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Bitcoins, Anyone Do It?


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#1 NUTNDUN OFFLINE  

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Posted February 11, 2014 - 09:01 PM

I don't recall how I got sidetracked onto the subject but curious to see if anyone else on here has any experience with the whole bitcoin thing?


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#2 boyscout862 ONLINE  

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Posted February 11, 2014 - 09:14 PM

What is it?



#3 larrybl ONLINE  

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Posted February 11, 2014 - 09:16 PM

As I understand it is the currency preferred by the black market and underground as it is virtually un traceable.


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#4 MH81 ONLINE  

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Posted February 11, 2014 - 09:24 PM

Never heard of it before. Interesting.

#5 superaben OFFLINE  

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Posted February 11, 2014 - 09:42 PM

Wow.  Didn't know there was such a thing.

 

Ben W.


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#6 larrybl ONLINE  

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Posted February 11, 2014 - 09:56 PM

The Web is deeper than you think.

http://articles.balt...nternet-privacy

 

"The events of the past week have drawn renewed attention to the underground of the Internet, where users hide their identities, bounce information around the world to obscure its origin, access hidden sites with extensions like ".onion" and spend digital currency known as Bitcoins."

 

Search for "Deep Web" if you dare.


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#7 toomanytoys84 ONLINE  

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Posted February 11, 2014 - 09:57 PM

I read about and im even more confused.........I am a miner?

#8 HowardsMF155 OFFLINE  

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Posted February 11, 2014 - 09:59 PM

I've heard a bit about it.  Somehow you make money by "solving" mathematical equations.  I was reading some news about how the "price" or "value" of the bitcoin was falling.  I kept thinking "this is another pet rock craze".


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#9 larrybl ONLINE  

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Posted February 11, 2014 - 10:05 PM

I have not gone past reading the articles about "silk roads" but apparently "bit coins" obtain their value from the items that they are used to purchase.

 

"To buy something from Silk Road, users needed a stash of Bitcoins. The data that makes up a Bitcoin is essentially the history of every transaction in which it has been used. The electronic currency, the FBI says, is useful for illegal transactions because — like cash — it is difficult to trace."

 

I guess it doesn't matter what is purchased :tapping_fingers:


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#10 oldedeeres OFFLINE  

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Posted February 11, 2014 - 11:27 PM

Too convoluted for me, I'll stick to GT.s and amass "post points",  lol. Hey, I just realised I passed 1000!


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#11 EricFromPa ONLINE  

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Posted February 12, 2014 - 01:38 AM

If your going to Farm Bitcoin you need a fairly high end PC.Alot of internet based businesses are starting to accept BitCoin as payment.Such as Tigerdirect.com

http://www.tigerdire.../?srkey=bitcoin

 

 

 


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#12 daytime dave OFFLINE  

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Posted February 12, 2014 - 01:57 AM

I saw it a while ago.  Cyber BS I thought.  Apparently, something from nothing.  I should have jumped in when I saw it.  Now, I think it's fading.


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#13 NUTNDUN OFFLINE  

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Posted February 12, 2014 - 05:44 AM

The whole bitcoin thing is an unknown for me. I have heard the name mentioned over the last couple of years. Primarily the mining thing. For some reason I did a search on it last night and happened to come across a site where it is more like a stock market for investing. Rather then mining for coins you can buy coins just like stock. I am far from even thinking about doing it especially seeing what they are trading for now at over $600 a coin. Here is one of the sites I seen that actually had credibility from the few things I read: https://www.bitstamp.net/


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#14 JDBrian OFFLINE  

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Posted February 12, 2014 - 06:05 AM

Speculation IMO. A few will make a lot of money and most will loose. Same old story.


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#15 TAHOE OFFLINE  

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Posted February 12, 2014 - 09:14 AM

Never heard of it.

If it's anti-government, conspiracy theory, hoarded by preppers or made by the aliens, my brother in law would know all about it. :loosing_it:


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