Not just for shady purposes.
Bitcoins are a decentralized internet commodity.
http://bitcoincharts.com/
http://en.wikipedia.org/wiki/Bitcoin
Printable View
Not just for shady purposes.
Bitcoins are a decentralized internet commodity.
http://bitcoincharts.com/
http://en.wikipedia.org/wiki/Bitcoin
Appears that most of the risk coming from BTC is in the exchange process from USD, etc into BTC. The culprit is mostly people buying using paypal or credit cards who then do a chargeback and the seller of the BTCs are out.
It is a tad bit like the Wild Wild West. I just saw someone sell a Bitcoin Bank recently out of US hands to a Canadian. Wow! Try selling a bank with USD, hell try starting a bank for that matter.
I don't trust the exchange mechanism.
transactions are public and you can follow them easily
the exchanges are run by companies and individuals.
there is also a forum where members are trading amongst themselves.
I wouldn't put my retirement in Bitcoins though.
bitcoins are fucking retarded and anyone who uses them is an idiot. I heard buttcoins are the new thing though:
http://buttcoin.org/
Bitcoins are blowing up ....
http://bitcoincharts.com/charts/mtgo...zm1g10zm2g25zv
heard this on the news the other day. there's a guy in alberta trying to sell his house via bitcoin....should be interesting.
http://www.forsalebyowner.ca/listing...pass-AB/124988
Well, the first time I heard about Bitcoins was from a 20 year old college slacker kid who was trying to show me how I could run a bot to turn multiple computers into 'Zombies' so that you could "solve the algorithm", according to him, and this would somehow generate one BitCoin every 24-36 hours or so.
Uh, yeah, seems like a super legit system....
Read the Economist article.Quote:
Originally Posted by Hott Butt Mud
I did.......Quote:
Originally Posted by neufox47
Not to mention that turning out a bitcoin currently valued at $90 every 30 hours yields an average income of $72 per day. Minimum wage seems a little low to be solving increasingly complex algorithmsQuote:
Originally Posted by Hott Butt Mud
The whole idea is doomed to failure. The near-anonymity of bitcoin transactions and possible chance to dodge taxes is way offset by the risk from hackers and ripoff artists out there. The opportunity for "forgery" is huge. Then theres the big swings in valuation because so little is in circulation -even after this latest runup the total supply is worth less than $1billion.
WOW!!! Up over $500 now! :eek:Quote:
Originally Posted by huckbucket
watch the world's currencies flow into BTC in realtime
= Doh!Quote:
Originally Posted by MiCol
One of the best, and legit arguments I've heard recently for bitcoin's is foreign currency remittances. Worldwide diaspora's are sending billions home to family and getting stung w' huge transaction costs. Bitcoin's let them do it for a fraction of the cost, especially on small sums. I won't cry a tear if Western Union gets rendered obsolete by bitcoin. I will however be pretty scared if governments can't operate because tax revenue dries up because bitcoin replaces gov't back currency!
2 currency changes are better than one? huh? it's goldbuggery without gold; same stupid peopleQuote:
Originally Posted by System_D
TSX-V junior "mining" exploration leisure company is setting up a bitcoin exchange, and paying their contractor for "exploration" "work" on their "project" with the bitcoins
beginning of the end.
I barely understand bitcoins and the other online currencies. Though I do "own" 1000 Ripples, I have no fucking clue what they are or what I should do with them. But hopefully they become valuable, and I can be rich, biatch!