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(CNBC)   Pennsylvania Subway shop begins accepting bitcoins for payment. Apparently, you give them virtual cash, they give you a virtual sandwich   (cnbc.com) divider line 18
    More: Strange, virtual currency, digital currency, illegal narcotics  
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492 clicks; posted to Business » on 20 Nov 2013 at 9:50 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



18 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest
 
2013-11-20 10:49:25 AM  
How are you supposed to get a $5 footlong with bitcoins?

No, seriously. One bitcoin is upwards of $500. Are they accepting them in exchange for gift cards? Or are they walking out like this?
cdn.uproxx.com
 
2013-11-20 10:53:17 AM  
I suspect Stubway is a front for drug-laundering operation. I have never been in one that had more than 2 or 3 people in them.

Also, even the crappiest deli is still going to serve fresher and better meats and veggies than Stubway.

Heck, even in semi-rural Virginia here, there are 2 Stubways within a half-mile of each other. Meanwhile, right down the street is a deli run by Mennonites that offers fresh meat, homemade bread and fresh veggies on a bigger, tastier sandwich for less than Stubway's $5 11.75-inch long!

Get out of your "comfort zone" folks!
 
2013-11-20 10:54:06 AM  
** The Mennonite deli is far from crappy!
 
2013-11-20 11:13:34 AM  
Fist sign of dementia with my mom was she wanted to eat at Subway.
Sad.
 
2013-11-20 11:41:50 AM  
Headline for next week: Pennsylvania Subway shop owners arrested for CP/ Bitcoin Laundering.
 
2013-11-20 11:49:08 AM  

paswa17: How are you supposed to get a $5 footlong with bitcoins?

No, seriously. One bitcoin is upwards of $500. Are they accepting them in exchange for gift cards? Or are they walking out like this?
[cdn.uproxx.com image 500x375]


One bitcoin is not the atomic unit of transactions anymore than one dollar is. In fact, you can go far, far more granular with bitcoins than the 1/100th we allow with dollars.
 
2013-11-20 12:10:09 PM  
They price is really deceptive. It's apparently based on Magic:The Gathering trading card exchange and they are supposedly unable to process btc=USD transactions right now. Well, they can but you can only take out so much at one time and that may take up to  72 weeks. That's right, you would make landfall on Mars before you could actually convert your butts to something useful.

Plus, and this is pretty important, the BTC economy is extraordinarily shallow. I was watching the Magic:The Gathering chart and small sell-offs would plummet the price by as much as $20-$30.

The trick for businesses is this: will your suppliers or employees take BTC?  Because right now converting into useful cash is basically impossible. Outside of Craig's List or meeting some neckbeard in a parking lot.
 
2013-11-20 12:37:52 PM  

trotsky: Outside of Craig's List or meeting some neckbeard in a parking lot.


There is one ATM in a Vancouver, BC coffee shop which will dispense cash for Bitcoins.
 
2013-11-20 01:13:12 PM  
Must be a real cockpunch when, a week later, that sandwich cost you $40 in unrealized gains.
 
2013-11-20 01:47:27 PM  

tricycleracer: Must be a real cockpunch when, a week later, that sandwich cost you $40 in unrealized gains.


That's not as bad as the $6 million pizza.
 
2013-11-20 02:17:50 PM  
Ha ha... It's funny cuz their sandwiches suck!
 
2013-11-20 02:18:55 PM  
We have this sandwich shop here in Gainesville called Hogan's. For the same price as a Subway sandwich, you get 3 times the sub. If these guys can make great sandwiches for those prices, Subway must be making a real killing on theirs.
 
2013-11-20 02:30:15 PM  

Ivo Shandor: tricycleracer: Must be a real cockpunch when, a week later, that sandwich cost you $40 in unrealized gains.

That's not as bad as the $6 million pizza.


I wish I had thought of that...

http://ounce.me/

Yeah, on the MTGOX exchange, BTC hit $900USD. That was the evening BTC got some legitimacy from the congressional hearings.

Cryptocurrency is here to stay, folks.

I wish I had a little more patience back in 2008 when I looked into bitcoin the first time, I'd have mined a hundred thousand of them, traded in when it hit $200 and retired.
 
2013-11-20 03:23:10 PM  

Ivo Shandor: tricycleracer: Must be a real cockpunch when, a week later, that sandwich cost you $40 in unrealized gains.

That's not as bad as the $6 million pizza.


Gee, seems like spending Bitcoins is a bad idea as they seem destined to increase in value.

I better hoard them, thereby increasing their scarcity and applying more pressure to their current deflationary cycle.

It's not like a currency that no one wants to spend is a bad instrument for economic growth.

There's no way this could end badly for me.
 
2013-11-20 03:26:02 PM  

trotsky: They price is really deceptive. It's apparently based on Magic:The Gathering trading card exchange and they are supposedly unable to process btc=USD transactions right now. Well, they can but you can only take out so much at one time and that may take up to  72 weeks. That's right, you would make landfall on Mars before you could actually convert your butts to something useful.

Plus, and this is pretty important, the BTC economy is extraordinarily shallow. I was watching the Magic:The Gathering chart and small sell-offs would plummet the price by as much as $20-$30.

The trick for businesses is this: will your suppliers or employees take BTC?  Because right now converting into useful cash is basically impossible. Outside of Craig's List or meeting some neckbeard in a parking lot.


I do bank transfers just fine at my exchange, CampBX. $2 fee and the cash is in the bank in 2 days. If you have a smartphone, apps like Gyft are useful for buying digital gift cards that can be used immediately.
 
2013-11-20 05:45:07 PM  
Ahh yes, we're one step closer to basing our entire economy on Monopoly money.
 
2013-11-20 07:14:34 PM  

LesserEvil: Ivo Shandor: tricycleracer: Must be a real cockpunch when, a week later, that sandwich cost you $40 in unrealized gains.

That's not as bad as the $6 million pizza.

I wish I had thought of that...

http://ounce.me/

Yeah, on the MTGOX exchange, BTC hit $900USD. That was the evening BTC got some legitimacy from the congressional hearings.

Cryptocurrency is here to stay, folks.

I wish I had a little more patience back in 2008 when I looked into bitcoin the first time, I'd have mined a hundred thousand of them, traded in when it hit $200 and retired.


You'd still have had to keep them saw until that point (good luck) and then actually sell them to realize the money.

One of the things I try to explain to people is the fact that just because I technically have $60,000 in comics (not really, but it's a good analogy for bitcoin) doesn't mean they're worth that. They're worth what I can trade them for in reality. Trying to dump any items, en masse, will cause an abrupt drop in price. See also: commodities.

We now return to your normally ignorant fark comments.
 
2013-11-20 10:22:47 PM  
You want salt pepper oil?
You want salt pepper oil?


Take it easy there Captain Hazelwood.
 
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