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The Everything Bitcoin Thread


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The concept is fascinating.

However, it threatens the established order to the point where I could see more countries following China's lead.

stupid question here...couldn't this actually be damaging to a country? I mean to the point of collapse?

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figured I'd get that response. I was hoping someone could tell me from experience. I see lots of sites, but how many are legit? Is that blockchain the way to go or are their better options? Does it matter? I'm totally clueless as to how this works.

Just do your research and stick with the well known sites so you don't get scammed. Use Blockchain for now until you get more comfortable with Bitcoin.

If you're going to mine for Bitcoins, just keep an eye on your electric bill. If you're going to use your own cash to buy and trade Bitcoins, then be careful. Buying and trading them on an online exchange takes big cajones of steel. You then have to look at the "risk vs. reward" aspect.

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Just do your research and stick with the well known sites so you don't get scammed. Use Blockchain for now until you get more comfortable with Bitcoin.

If you're going to mine for Bitcoins, just keep an eye on your electric bill. If you're going to use your own cash to buy and trade Bitcoins, then be careful. Buying and trading them on an online exchange takes big cajones of steel. You then have to look at the "risk vs. reward" aspect.

Thanks for the info. i've been reading up on it and a couple things definitely make me wonder. They say that anyone with the key to your wallet can spend your coins. Sure sounds like it's easily hackable. Sounds like theft could be an easy thing?

Also, they say there will never be more than 21 million coins, who says that and what to say they can't flood the market later to drop the price?

When I first heard of bitcoins I figured it was a huge scam, I still kinda figure it is. But, I'd I figure I'd like to know as much as i can about it. Hell, I'm bored, need something to take up my time all day, LOL!

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Ruh Roh! The Bitcoin market is having a little bit of a snafu. I may in the long run be proven right about Bitcoin biting the dust after all! I'm curious to see how this ends up playing out.

http://qz.com/165273...is-now-at-hand/

I was just reading that.

There is so much talk about other online currencies taking off. To me all this online talk about currencies is just a way to devalue the paper dollar. Not to mention it just seems to give the power from one group to another group. neither system seems to give the value to the user.

Am I missing something?

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I was just reading that.

There is so much talk about other online currencies taking off. To me all this online talk about currencies is just a way to devalue the paper dollar. Not to mention it just seems to give the power from one group to another group. neither system seems to give the value to the user.

Am I missing something?

Just think of online currency as one big experiment. Just like with any currency, if people lose trust in it then it becomes worthless. If people get spooked by what's going on right now with the mining pools then Bitcoin could go downhill fast.

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so it would seem mining for coins is now pretty much impossible and not profitable?

I tried it with easy miner and I must be doing something wrong. I would assume the graphics card would get louder like when i run some games.

even if there is no money in it, I'd at least like to know that I'm doing it properly and its working.

I see a lot of free bitcoin sites, I'm gonna assume they're scams? One allows you to do surveys to earn them. I wonder if it's similar to making money with Angus Reid or Web Perspectives?

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Overstock.Com, Zynga, and now...

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Kings to accept Bitcoin for tickets, merchandise

SACRAMENTO, Calif. — The Sacramento Kings are set to become the first major professional sports franchise to accept Bitcoin virtual currency for ticket and merchandise purchases.

The Kings announced Thursday that fans will be able to buy gear from the official team store and pay for tickets with the digital money beginning March 1. Purchases will be processed through BitPay, which accepts the digital dollars and pays the Kings in cash.

Bitcoin users buy digital money and load it onto a virtual wallet. Unlike government-issued money, the value of Bitcoin fluctuates rapidly. At one point Thursday, the value of one Bitcoin was worth nearly $850.

Kings owner Vivek Ranadive said the new payment method is part of his model for “NBA 3.0, which focuses on investments in technology, globalization and deep community partnerships.”

Edited by Grapefruits
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