Say hello to the bitcoin

Bitcoin Link

This is pretty amazing that this is on front page news Just thought I would post it here to get your thoughts....this is the first place I thought of

Crazy times...who needs real cash these days

reply to post by Detrucci
Well actually it is my understanding that in order to obtain the digital bitcoins you must exchange actual pre-existing money for them, and with the way the bitcoins value keeps fluctuating up and down I'm not convinced bitcoin is a wise investment- especially since most governments will do whatever they can to de-value any competitive monetary system.

reply to post by littled16


Any day you will see an ad for an army of hackers to take down the bitcoin sites. I think of bitcoin the same way I thought of beanie babies...they are a great money maker if you got in early, but, I believe it will crash soon enough. I hope I'm wrong for the sake of some people on here.

Originally posted by superman2012
reply to post by littled16

 

Any day you will see an ad for an army of hackers to take down the bitcoin sites. I think of bitcoin the same way I thought of beanie babies...they are a great money maker if you got in early, but, I believe it will crash soon enough. I hope I'm wrong for the sake of some people on here.

Already done. There is an entire industry, underground or otherwise, surrounding the bitcoin. The entire Dark Web operates on it.

reply to post by CIAGypsy


lol That should give it some legitimacy!

Originally posted by superman2012
reply to post by CIAGypsy

 

lol That should give it some legitimacy!

Don't even get me started....

reply to post by Detrucci


The big issue with digital currency is that its not physically real and is just numbers printed on digital paper. When considering a persons years of toil to save money for a better life and retirement the number on the computer screen is not just a number it represents to them years of work.

What person who has through honest mechanism of work and investment accumulated wealth would feel confident in cash being replaced completely with virtually currency. What guarantees do they have their life saving wont be robbed by some nefarious hacking scheme.

The use of physical money being the cash commodity provides the average person with a greater sense of security, isolated from potential radical monetary polices which we see for example in Greece, giving every ones bank accounts a haircut. If people knowing hair cut is coming they can withdraw their money as cash. Physical money provides a tangible safety net in times of economic crisis, and also against hacking as if an investor has lack of confidence their electronic money is secure they can withdraw it as cash.

Aaaaannd cue the people who don't have a clue to bag crypto currency.



Sadly it's about that time for it again. Ahh well. Suffice to say it is not something that's going away and in fact is becoming more and more accepted online, you can obtain crypto currency by 'working' for it, or paying for it.

I have upgraded my pc partially with bitcoin. Yay, and I didn't even need to go to the darkweb, shock horror dismay at the jokes missed out on.. oh dear.

Oh and lets all go hold the gold we know is real that maintains the dollar value. Wait.. there is gold, right?

www.blacklistednews.com...



here's another view on this bitcoin thingy.

i don't care about bitcoin because as another poster wrote, it's just numbers on a screen.

reply to post by winofiend


I upgraded my pc by taking in cans and bottles to be recycled, what's your point?

Originally posted by littled16
reply to post by Detrucci

 

Well actually it is my understanding that in order to obtain the digital bitcoins you must exchange actual pre-existing money for them, and with the way the bitcoins value keeps fluctuating up and down I'm not convinced bitcoin is a wise investment- especially since most governments will do whatever they can to de-value any competitive monetary system.

It is not competition. In theory you can use bitcoins, but 90% are in the game to turn bitcoins into more Euros.

Originally posted by littled16
reply to post by Detrucci

 

Well actually it is my understanding that in order to obtain the digital bitcoins you must exchange actual pre-existing money for them, and with the way the bitcoins value keeps fluctuating up and down I'm not convinced bitcoin is a wise investment- especially since most governments will do whatever they can to de-value any competitive monetary system.

If bit coins were a genuine investment, vendors would not be selling them. Eventually when it crashes they are hoping you, not them are left holding valueless binary code. Anyone really think that if its just going to keep on rising that people would be selling them at all? Like gold at some point it will be over speculated and the price will fall and a lot of people will get cut short. bit coin has less (ie none) intrinsic value than fiat. That said it does have uses if you want an untraceable medium of exchange but not as a long term investment. That's not to say that people will not make real cash of its exchange, just don't be the last one holding the buck.

More like, good bye!

It's had a decent run, but it's time for a better cryptocurrency to take hold.

Bitcoin has already had a bad wrap, and our understanding of it's vulnerabilities has increased over the years.

Better to bring all these understandings into a more viable alternative.

Whoever figures out which next CC will be hot, is going to bank as did the early BC investors.

reply to post by AthlonSavage


I completely agree with you.In Canada you don't even need a pin code for your bank cards anymore...its touch and go

And this is why we can't have nice things!


Honestly if you take the physical form of currency away you have taken away the motivation to keep things honest.
When you remove instant and direct validation of currency via a physical form you have opened it's theft to everyone whom may have a connection. Instead of just the people who live under your roof or near your wallet.

This is why I don't believe in credit, and look it's one of the biggest scams around, credit is half the reason everyone is in debt, it's worse than the overdraft checking fee, it's credit, come get into debt before you even get the money in your hands! And pay more than you originally would of paid. Worst idea and concept ever, but you better believe it's being worked and built upon, since to people with skills and power can just hit erase if they score becomes too bad.

It's only a matter of time before someone big makes a move and trys to sway based on all this crap.

This world is obviously chosen it's future, a future of a 1,000 years of hell. Digital oppression.