Bitcoins?

Whats everyone think of the bitcoin thing? is it a chinese plot to take over world currency? is it just some fraud thing to get people to give their money away? is it legit?

Ive lost my faith in cash, credit, stamps, coins- what if i started saying that petrified dog turds were worth $4.75 each would ppl start buying them all up if i sold em for $4.50?

who actually runs the bitcoin thing anyway?
and what does it have to do with the "deep web" is that all a hoax?

 

It's legit, but of course some sellers will scam you, that's what feedback is for. For the sake of the forum I don't want to say anymore. A little research will show you what to do.

 

This is nails-on-chalkboard its like i ask the one unaskable question, everyone going on on about lizard conspiracies and niburu and 9-11 and fake moon landing bla bla bla and i drop the "B word" and nobody has anything to say. I smell a cover up, and not the government kind! go ahead moderators close my thread i know when I'm being lied to and deceived! I've been around this campfire long enough, and earn my tie dye stripes- consider my screen name the jig is up kids i struck the nerve now

what's the score here

take off your mask lets see who you really are

 

there up to 20.33 each today.
wish i bought some back when they were 5.00$ each.

 

I know RIDICULOUS man! What is up with that?

 

$26.50 now, it just keeps climbing.

 

yep... 27.14 i seen. crazy i bought 4 when they were 22 each. hell got an extra 15 bucks.

 

Bitcoin will, by it's nature, climb in value.

ESPECIALLY against currencies that are designed to drop in value.

It's legit, and nobody runs it, that's not how it works. There is, however, a bitcoin project or whatever. They have a website explaining what you're asking.

 

almost to 30.00$ u.s. a bitcoin
anyone here use them?

i bought 4.5 for 100$ a while back, and still have 2 of em.
there prob. gonna crash again soon.

 

I have a feeling that you are just a little bit paranoid.

 

You are utterly stupid.

I hope they do. I've been meaning to invest in a few for a while now. Seems easier, and more long-term stable but short-term potentially profitable, than trying to play national currencies.

....if they start to crash, somebody who follows this stuff let me know? I wanna buy at the very bottom.

 

i watch them, couple times a day at least. yeah i,m waiting for em to crash.
i have 2 of em i paid 22.50 for, when they start to drop, i,ll use em. then wait..
for em to hit bottom and buy a shitton of em, i,ll let ya know here when they start to drop.

 

Even if bitcoins get to $50 or $100 who's gonna buy them from you? It's more of a niche market to me.

and OP Rule# about deep web: We don't talk about deep web.

 

It looks like extremely risky business, but it sure is possibile to get rich quickly.

 

.....random-ass paypal businesses that deal in bitcoins.

As to risk, unless the entire thing just crashed and vanished, you couldn't perminantly lose the money.

It's possible that an alternative currency of the same nature could hurt it. But I don't really think it's going to happen. Bitcoins have a small hold, but a reasonable hold. And now even big business is looking into them, to escape gambling laws... But the worst that can happen is they DON'T get better, I think.

Everything booms and busts. Don't spend any money you can't afford to lose, and don't sell at a loss, weather that shit, because in the long run we know bitcoins will almost certainly do okay, at least for a reasonable amount of time.

 

I don't think anybody should look at bitcoins as an investment, an alternative currency, Yes. The Bitcoin Exchange recently became recognized as an official "bank", and now has the same rights and privileges as services like Pay Pal. So I guess they are going to be around for a while.

 

The whole point is that they're a currency....

And that it's better for a currency to be independant of a fed.

Nobody can turn on the bitcoin printing press, that's not how it works. I'm not saying that a government shouldn't run a currency, but I'm saying that large modern governments have, to date, done consistently awful jobs.

So why isn't it a currency? Because the government didn't make it?

 

Actually anybody can make bitcoins, it's called Bitcoin Mining. It takes a lot CPU or GPU power so a lot people join Clusters and combine cpu power to generate bitcoins. However it takes a lot CPU cycles to generate a few bitcoins.

And I agree they are a currency and I do see there value going up especially since there a "fixed" limit on how many bitcoins can be created.

 

Anybody can create them, but it's not free.

If the government starts an expensive war, the fed lends money that, prior to that loan, did not exist, to other banks, and charges interest to boot, and blah blah blah.... but nobody can do that with bitcoins, because nobody has that authority, to say "we don't have it, but that's okay, because we own the system".

As you said, it takes a lot of computing, it takes human time to set things up, it takes physical investment in your computer, etc. How many are being made would affect the market, but in the long run it should stay stable.

Now maybe at some point there will be huge farms dedicated to "mining" them, but they won't crash overnight, and it would be silly for those farms to crash the market, because it wouldn't make them any money. At this point, we're nowhere near a situation where that makes financial sense to do. Because bitcoins can be used in tiny fractions, there's no need of anybody to do that, either, even if they start casinos or other businesses that use bitcoins to dodge regulations.

And the fact that they have a "bank" is probably recognized mostly to prevent their use in money laundering or gambling, anyways.

*edit* it WOULD be possible for a pissed government to crash the market..... but they couldn't do it for ever, and then it would stabilize, and the low price would give a lot of people a jumping-in opportunity. In the long run, it would do nothing, because the total number of possible bitcoins could not change. I, for one, would love that. I would buy a fuckton of ten cent bitcoins and hoard them

 

It is too late to mine now. Most coins have already been dug up.


What I think is shitty, is that the creator and his friends dug the most coins for themselves on the beggining and they are basicly millionaires right now.