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Bitcoin

Discussion in 'Skills, Business and Finance' started by BurtMeister3000, Sep 27, 2016.

  1. BurtMeister3000

    BurtMeister3000 Staff Member

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    Came across this video and wondered how many of you know about this type of currency. Is it good or bad or are their any vulnerabilities associated with using it?

     
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  2. MrSpock

    MrSpock Active Member

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    Heard of it.

    Bitcoins are often blamed for money laundry and online piracy as it can be hard to track sometimes.

    In my opinion, it is more like drugs, the more governments demonize it, the bigger a nightmare it will become for them. Best way is to endorse it, to be able to track it properly it needs to be in the open.
     
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  3. BurtMeister3000

    BurtMeister3000 Staff Member

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    I quite like the idea of it not being in control of the big banks.
     
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  4. MrSpock

    MrSpock Active Member

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    Same here. I think there could be a trade of in some way. Probably if bitcoins are more used, the chances for governments to flag them and their users would be much lower.
    But then again, as pointed out in your Assassination thread, they won't allow anything to mess with the current financial system.
     
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  5. BurtMeister3000

    BurtMeister3000 Staff Member

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    The only trouble is if its in cyber space and no one person has it who do you assassinate?
     
  6. MrSpock

    MrSpock Active Member

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    They can always go after influential people/movements that promote it.
     
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  7. Master-gauge

    Master-gauge Well-Known Member

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    I would just like to know how easy it is to turn into physical cold hard cash?? :rolleyes:
     
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  8. MrSpock

    MrSpock Active Member

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    I would say pretty easy. You don't need any paperwork, nor even a bank account. Being a purely electronic currency, it is quite versatile.

    Check out LocalBitcoins.com: Fastest and easiest way to buy and sell bitcoins for more information.
     
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  9. BurtMeister3000

    BurtMeister3000 Staff Member

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    This guy talks about how it works. It sounds complicated but you apparently can earn money from mining bitcoin. However it with better technology coming out it sounds like you earn less. Anyway, here is the vid...It sounds very complicated.......

     
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  10. MrSpock

    MrSpock Active Member

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