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Thread: Bitcoin BTC Talk and Discussion
03-16-2012, 09:25 AM #1
Bitcoin BTC Talk and Discussion
03-16-2012, 09:55 AM #2
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.
03-17-2012, 03:27 PM #3tinkerer
- Join Date
- Mar 2010
I don't trust the exchange mechanism.
03-18-2012, 12:11 AM #4
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.
03-18-2012, 02:43 AM #5
bitcoins are fucking retarded and anyone who uses them is an idiot. I heard buttcoins are the new thing though:
Last edited by jamal; 03-18-2012 at 02:59 AM.
03-28-2013, 06:29 PM #6
03-28-2013, 07:35 PM #7
03-28-2013, 07:43 PM #8
heard this on the news the other day. there's a guy in alberta trying to sell his house via bitcoin....should be interesting.
03-28-2013, 08:38 PM #9
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....
03-28-2013, 10:17 PM #10
03-28-2013, 10:25 PM #11
03-28-2013, 11:13 PM #12
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.Check Out Ullr's Mobile Avalanche Safety Tools for iOS and Android