Bitcoins: Discuss
 

Does anyone use these? I've sort of heard about them the past few years, but they really seem to be front and center and more internet sites I buy stuff from take them as a form of payment now. I know one place that "housed" them went under, but interesting concept.

Attempting to bypass the international banking cartels with an electronic currency that has invisible, make-believe value doesn't seem awfully prudent on the outset.

But that's just me. You can certainly tell that the bank-funded media outlets certainly got the meme as you will not see a news anchor anywhere, whether it be broadcast or cable, report a Bitcoin story without a smirk and a snide comment at the end of it.

Bitcoin exchange CEO found dead:

>>>Autumn Radtke, the American CEO of First Meta, an exchange for virtual currencies such as Bitcoin, was found dead in her Singapore home last week, speculation immediately turned toward suicide.<<<


http://nypost.com/2014/03/06/friends...eo-found-dead/

What could possibly go wrong with a "currency" backed by nothing and is "mined" by computer algorithms made up by some shadowy figure in Japan?

I choose funding Nigerian Royals needing to pay the taxes on their million dollar inheritances.

Mail from Nigeria must be slow but any day now the checks will start rolling in. ;)

i don't use them and have no intentions of doing so.

it looks like a commodity, not a currency.

how do you feel about gold, aluminum, or lithium?

the history of private currencies isn't pretty. i'm not optimistic.

but i told a friend that the ipad looked like a giant iphone and i couldn't imagine any large number of people wanting that so consider the source.

Bitcoin Founder denies "it's him" after being outed by Newsweek investigation:

http://www.foxnews.com/tech/2014/03/...ehind-bitcoin/

His initial statements quoted in the article sure made it sound like it was him.

i thought karaoke was a stupid fad, and would never last. :o

you were right. karaoke remains the pet rock that didn't know it's time had passed.

it was no lord kelvin "heavier than air flying machines are impossible". you can still hold your head high. you will never have to awkwardly warble your posts here in the same manner i use my ipad to post this.

nonetheless, i remain confident that when steve starts his subscription model, i won't be paying in bitcoins. i'll use good old fashioned gold nuggets.

Like any other fiat currency, everything is fine until you have it when it devalues. If you have it and then exchange it for goods of real value, and then the bitcoin thing goes belly up - you're not hurt. The guy who didn't spend it yet is.

Here's the thing: counterfeiting is illegal for good reason - the money supply would increase and devalue the other "true" currency whether dollars, euros, etc. Since Bitcoin depends on an "unbreakable" cryptography (where have you heard that before?), once someone breaks it and figures out how to make bitcoin data packets that did not previously exist, it's the same as counterfeiting and the bitcoins will plummet in value.

IRS to treat Bitcoins as property, not currency.