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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!
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.
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.
I just read this morning that one of the Bitcoin sites got hacked and the price had dropped. I personally would not use it.
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.
I don’t understand the desire to use it.
What prevents any “wealth” accumulated in it from suddenly disappearing?
Here’s a Bitcoin primer I put together.
http://www.futurnamics.com/bitcoin3.php
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).
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?
I wouldn’t ‘invest’ in bit coin. It’s value and use is not in stability, but anonymity.
My 30 year old son told me about Bitcoin 2 years ago. He has “mined” a small amount. Enjoys watching it grow !
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.
That looks very helpful - will read... Thanks.
Looks like Mr Madoff has a new hobby.
Is it worth mining these if I have a few extra computers laying about?
I stopped my digital evolution at texting. I do not tweet nor bitcoin nor anything that came after texting.
Thanks!
Fascinating!
i’ll stick with money credit card, and checks!
I have no use for being anonymous in my transactions!
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