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Any FReepers use Bitcoin?

Posted on 04/04/2013 8:41:34 AM PDT by djf

Bitcoin is a type of "virtual currency" developed by an Opensource organization.

Using them requires downloading some software and synchronizing the databases, a very lengthy process, taking perhaps a day or more.

AFAIK from what I read, when Bitcoin was started, the "value" of a bitcoin was about 5 cents.

Current quotes for the value of a bitcoin come in at around $135 USD.

So I am intensely curious to know if any FReepers have ever successfully acquired a wallet, synchronized their DB's, and started acquiring/earning/spending bitcoins!


TOPICS: Business/Economy; Computers/Internet
KEYWORDS: bitcoin; bitcoins; currency; digitalcurrency
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1 posted on 04/04/2013 8:41:34 AM PDT by djf
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To: djf

I think you may have missed the boat. People are talking about this all over the place. I would be very, very careful “investing in BC.” When the rush to the door starts, it’s going to be fast and ugly.


2 posted on 04/04/2013 8:45:10 AM PDT by Vermont Lt (Does anybody really know what time it is? Does anybody really care?)
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To: djf

The big-government/big-corporate criminal complex will never allow bitcoin to endanger their monopoly on fungible exchange of value, if they have to kill everybody involved in order to do it.


3 posted on 04/04/2013 8:45:43 AM PDT by E. Pluribus Unum ("Somebody has to be courageous enough to stand up to the bullies." --Dr. Ben Carson)
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To: djf

I just read this morning that one of the Bitcoin sites got hacked and the price had dropped. I personally would not use it.


4 posted on 04/04/2013 8:46:30 AM PDT by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: djf

I don’t think any FReepers are going to talk about whether they do or do not use bitcoin on a public forum.

No one should assume their real identity can’t be discovered. Here, or anywhere.

Remember: what you put on the internet is there forever... and search engines are going to get better and better.


5 posted on 04/04/2013 8:46:33 AM PDT by Steely Tom (If the Constitution can be a living document, I guess a corporation can be a person.)
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To: djf

I don’t understand the desire to use it.

What prevents any “wealth” accumulated in it from suddenly disappearing?


6 posted on 04/04/2013 8:50:10 AM PDT by thackney (life is fragile, handle with prayer)
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To: djf

Here’s a Bitcoin primer I put together.
http://www.futurnamics.com/bitcoin3.php


7 posted on 04/04/2013 8:53:31 AM PDT by DaxtonBrown (http://www.futurnamics.com/reid.php)
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To: Steely Tom; djf

Don’t know why you should be afraid to say you use bitcoin. It’s not illegal. I have completed transactions with bitcoins, but havent used it in a year or more. don’t even know where my wallet is stored any longer (empty).


8 posted on 04/04/2013 8:53:44 AM PDT by HenryArmitage (it was not meant that we should voyage far.)
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To: Steely Tom

I think once a bitcoin wallet is created, it is not in any particular fashion associated with a particular IP address or username.

So people can talk about it without divulging anything.

I’m just wondering what the whole concept is about.
Do bitcoins in some way represent a piece of the pie of the value of E-commerce on the Internet? Is it just a matter of trust?


9 posted on 04/04/2013 8:54:38 AM PDT by djf (I don't want to be safe. I want to be FREE!)
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10 posted on 04/04/2013 8:56:03 AM PDT by deoetdoctrinae (The Old White Flag Republicans can go straight to He// and take their pal Obama with them!)
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To: thackney

I wouldn’t ‘invest’ in bit coin. It’s value and use is not in stability, but anonymity.


11 posted on 04/04/2013 8:59:57 AM PDT by HenryArmitage (it was not meant that we should voyage far.)
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To: djf

My 30 year old son told me about Bitcoin 2 years ago. He has “mined” a small amount. Enjoys watching it grow !


12 posted on 04/04/2013 9:01:56 AM PDT by pioneerstakethearrows
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To: djf

http://www.goldmoney.com/podcast/jon-matonis-on-bitcoin-and-crypto-currencies.html?gmrefcode=maxkeiser

Could be the safest of all currencies, very secure - uses same security as top military communications. Math computer expert explained to me.

Should be a part of every investors portfolio, IMHO.


13 posted on 04/04/2013 9:03:13 AM PDT by Arlis (.)
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To: DaxtonBrown

That looks very helpful - will read... Thanks.


14 posted on 04/04/2013 9:04:54 AM PDT by bigbob
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To: djf

Looks like Mr Madoff has a new hobby.


15 posted on 04/04/2013 9:06:32 AM PDT by Vaduz
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To: djf

Is it worth mining these if I have a few extra computers laying about?


16 posted on 04/04/2013 9:06:50 AM PDT by GraceG
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To: djf

I stopped my digital evolution at texting. I do not tweet nor bitcoin nor anything that came after texting.


17 posted on 04/04/2013 9:09:58 AM PDT by Zuben Elgenubi
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To: DaxtonBrown

Thanks!

Fascinating!


18 posted on 04/04/2013 9:12:31 AM PDT by djf (I don't want to be safe. I want to be FREE!)
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To: djf

http://falkvinge.net/2013/04/03/why-bitcoin-is-poised-to-change-society-much-more-than-the-internet-did/


19 posted on 04/04/2013 9:25:07 AM PDT by Arlis (.)
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To: djf
Sounds pretty stupid!

i’ll stick with money credit card, and checks!

I have no use for being anonymous in my transactions!

20 posted on 04/04/2013 9:31:41 AM PDT by dalereed
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