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+--- Thread: Bitcoin (/showthread.php?tid=4655)
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Bitcoin - MaryN - 27 March 2013
All the Eurozone problems are making me nervous. Can anyone out there explain (in monosyllables please) what Bitcoin is, and what its advantages are? Is it a viable replacement for currency?
RE: Bitcoin - Millwall_Dave - 27 March 2013
(27 March 2013, 19:03)MaryN Wrote: All the Eurozone problems are making me nervous. Can anyone out there explain (in monosyllables please) what Bitcoin is, and what its advantages are? Is it a viable replacement for currency?
have a look on wikipedia seems like a virtual currency
RE: Bitcoin - Tartar Horde - 27 March 2013
The only currency that has ever been real is Gold and Silver, you only own what you can hold, which is why I believe the world will fall back to these two metals as a source of tangible wealth.
RE: Bitcoin - Straight Shooter - 27 March 2013
Check out max kieser on youtube bitcoin i would link it mary if i was a wizzo ....which i am not
RE: Bitcoin - Highlander - 27 March 2013
there you go SS
http://www.youtube.com/watch?v=WAjL_X_ZesE
RE: Bitcoin - MaryN - 27 March 2013
Thanks, Guys. I shall watch the video.
RE: Bitcoin - Highlander - 27 March 2013
(27 March 2013, 21:03)MaryN Wrote: Thanks, Guys. I shall watch the video.
It might be this one that SS meant,... there are a few
http://www.youtube.com/watch?v=pOrmsymuBG4
RE: Bitcoin - BeardyMan - 28 March 2013
Virtual currency. Now available to trade on the open market. Used on The Silk Road to buy drugs anonymously.
RE: Bitcoin - Tibbs735 - 28 March 2013
Bitcoin is a digital currency that is transferred person to person. Each coin is actually a unique code that can be broken down into pieces, but not copied. Bitcoins are created by "miners," or people with seriously beefy computer set ups that generate the unique bits of code. There's a limited number of combinations, so eventually there will be none left to mine, so no inflation.
Most people get them by selling amazon gift vouchers for bitcoins on trading forums. They are sent to your virtual wallet. You can then use them in online shopping, and the attraction is that it's really fast and no banks are involved.
The nature of bitcoins combined with things like TOR anonymous browsing mean that some people buy and sell illegal stuff (as BeardyMan mentioned) on hidden websites. Payment it done via bitcoins, and it's essentially Amazon but with drugs, fake ID's, or even guns on other sites like the Armoury.
RE: Bitcoin - Metroyeti - 28 March 2013
Online coin? Dont trust it then again I think they should get ridof paper money