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Community (Misc.) => General => Debates/Serious Discussions => Topic started by: Thunderbird on April 14, 2013, 07:01:08 PM

Title: Bitcoins
Post by: Thunderbird on April 14, 2013, 07:01:08 PM
What do you think about the new virtual currency Bitcoin?

I think it has some great potential, but also some disadvantages (like being lost/stolen easier than normal currency).

(Also a free µBitcoin for the first person who is able to receive it :D )
Title: Re: Bitcoins
Post by: Just Lance on April 14, 2013, 07:38:07 PM
To be frank I don't really get it.
Title: Re: Bitcoins
Post by: Thunderbird on April 14, 2013, 07:56:32 PM
Okey, the thing with bitcoins is that once you have the setup done and got some, it's really fast to use them.
Months-later-Edit: Actually the thing is more that it's a mix of a deflationary currency (supply capped at 21 Mio Bitcoins ever) and a payment system

Also you can use your adresses anonymously or not, just how you need it.
E.g. this is my bitcoin adress: (edit: example outdated)
But I could also make a new one for every deal.
Also due to low transaction fees it's a very good way to handle buying stuff on the internet in other countries / to send it to someone in another country.

The fee is btw used to maintain the system, maybe you have heard of "Bitcoin Mining".
Maybe you have also heard that you can create your own money with this, this isn't true anymore as usual computers aren't effecient enough to produce money.
Title: Re: Bitcoins
Post by: Unimaginative Username on April 15, 2013, 03:45:21 AM
I heard that the exchange rates for Bitcoins took a hit recently. I think it was to do with some hacking issues that everyone seems to have had problems with lately.
Title: Re: Bitcoins
Post by: Thunderbird on April 15, 2013, 08:23:10 AM
There were some websites hacked that store the money online for you, so it's not the bitcoin system itself that got hacked.
Prices for Bitcoints dropped a lot, but they are still high (~85€/BTC atm). Also prices are changing rapidly from day to day.

I wish I had invested some when I first heard of Bitcoin, I would have made a lot of money.
I'm doing now, but only a small amount (money I can afford to lose and more for fun though).
Title: Re: Bitcoins
Post by: Judedeath on April 16, 2013, 01:25:23 AM
Wait, Bitcoins are still around?

Do people still not use them because they're stupid?
Title: Re: Bitcoins
Post by: Unimaginative Username on April 16, 2013, 04:56:22 AM
Do people still not use them because they're stupid?

Maybe both.
Title: Re: Bitcoins
Post by: Merlandese on April 30, 2013, 02:27:25 PM
My electronic funds are already taking up the majority of my faith. Not sure I'd find it necessary to use another fictional currency.
Title: Re: Bitcoins
Post by: Sizzle on November 11, 2013, 12:39:07 PM
Wait, Bitcoins are still around?

Do people still not use them because they're stupid?

Not to necropost a dead thread but Bitcoins were mainly used in darknet/deepnet to purchase illegal goods over Tor.
Title: Re: Bitcoins
Post by: Thunderbird on November 11, 2013, 02:58:32 PM
Not to necropost a dead thread but Bitcoins were mainly used in darknet/deepnet to purchase illegal goods over Tor.

I have to disagree, when the most used black market place Silkroad was shut down by the FBI, it didn't do that much.
Also I have ordered a pizza using Bitcoins today ^^
Title: Re: Bitcoins
Post by: Unimaginative Username on November 11, 2013, 06:10:42 PM
This is an interesting piece about Bitcoin: http://pandodaily.com/2013/11/08/the-case-for-bitcoin-at-340-is-not-that-crazy-after-all/ (http://pandodaily.com/2013/11/08/the-case-for-bitcoin-at-340-is-not-that-crazy-after-all/)


And last I checked the Silk Road is back up again :P
Title: Re: Bitcoins
Post by: Thunderbird on November 12, 2013, 08:25:51 AM
Here is a youtube video that might be interesting, it's a bit long though:
Why Bitcoin May Be More Disruptive than the Internet (http://www.youtube.com/watch?v=JJljgM6TSu8#)

And last I checked the Silk Road is back up again :P

It's not the same one, more like a successor.
Title: Re: Bitcoins
Post by: Sizzle on November 12, 2013, 03:55:12 PM
And last I checked the Silk Road is back up again :P
It's not the same one, more like a successor.


Or a honeypot  ;)
Title: Re: Bitcoins
Post by: Thunderbird on November 13, 2013, 05:19:31 AM
And last I checked the Silk Road is back up again :P
It's not the same one, more like a successor.


Or a honeypot  ;)

Yes, quite possible. I don't use it, so I don't really care ^^