Have been looking at Bitcoin for some time now, but this seems to indicate it is not as reliable as some had contended.
1 posted on
11/30/2013 12:05:32 PM PST by
Utilizer
To: Utilizer
I've tried to understand the concept. I just don't understand how money can be made just from running an algorithm. Intuitively, it seems that money can be made by selling or renting something, investing, or providing a service.
What do bitcoins come from that created value? There aren't even tulips at the end of the rainbow.
2 posted on
11/30/2013 12:11:28 PM PST by
grania
To: Utilizer
I still don’t get it. Like goggle, twitter and facebook, looks like nothing but vapor to me. And yet, some smart folks are making quite a bundle from them.
3 posted on
11/30/2013 12:12:04 PM PST by
rktman
(Under my plan(scheme), the price of EVERYTHING will necessarily skyrocket! Period.)
To: Utilizer
Bitcoin is not going to end well.
I wouldn't be the least bit surprised if it turns out organized crime is behind it somewhere.
In this case, "organized crime" can mean anything up to Hezbollah, the Russian Mafia, the Taliban, or the Iranian secret police.
I'd say North Korea, but I think they're too stupid to have gotten this far.
4 posted on
11/30/2013 12:12:18 PM PST by
Steely Tom
(If the Constitution can be a living document, I guess a corporation can be a person.)
To: Utilizer
It’s been reliable for me.
Bitcoin is great if you don’t want to be tracked.
10 posted on
11/30/2013 1:08:36 PM PST by
esoxmagnum
(Turtles don't win fights, they just turtle up. Victory belongs to the aggressor, not the turtle.)
To: Utilizer
this seems to indicate it is not as reliable as some had contendedThis has nothing to do with BitCoin's reliability as you call it. It's just some unscrupulous schmuck trying to make some by putting malware on someone else's computer.
14 posted on
11/30/2013 3:07:48 PM PST by
BfloGuy
(The final outcome of the credit expansion is general impoverishment. [Ludwig Von Mises])
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