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Thread: Bitcoins

  1. #31
    2011 Pick 'Em Champion johnnylightnin has a reputation beyond reputejohnnylightnin has a reputation beyond reputejohnnylightnin has a reputation beyond reputejohnnylightnin has a reputation beyond reputejohnnylightnin has a reputation beyond reputejohnnylightnin has a reputation beyond reputejohnnylightnin has a reputation beyond reputejohnnylightnin has a reputation beyond reputejohnnylightnin has a reputation beyond reputejohnnylightnin has a reputation beyond reputejohnnylightnin has a reputation beyond repute johnnylightnin's Avatar
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    Re: Bitcoins

    I don't have experience as it is still unproven and given to wild volatility.

    This site is pretty thorough...depending on how deep you wanna go. https://bitcoin.org/en/getting-started

  2. #32
    Champ ChipDog has a reputation beyond reputeChipDog has a reputation beyond reputeChipDog has a reputation beyond reputeChipDog has a reputation beyond reputeChipDog has a reputation beyond reputeChipDog has a reputation beyond reputeChipDog has a reputation beyond reputeChipDog has a reputation beyond reputeChipDog has a reputation beyond reputeChipDog has a reputation beyond reputeChipDog has a reputation beyond repute ChipDog's Avatar
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    Re: Bitcoins

    Quote Originally Posted by johnnylightnin View Post
    I don't have experience as it is still unproven and given to wild volatility.

    This site is pretty thorough...depending on how deep you wanna go. https://bitcoin.org/en/getting-started
    That was very informative. I believe im going to wait until someone I know gets into it

  3. #33
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    Re: Bitcoins

    Quote Originally Posted by ChipDog View Post
    That was very informative. I believe im going to wait until someone I know gets into it
    There are some interesting documentaries on it, one is "Banking on Bitcoin" which I know Netflix carries. I don't know a lot about it but find it quite interesting, originally the great thing about it was it was not government regulated, but the bad thing about it was that it was not government regulated. Bitcoin apparently played a key role in making the silk highway and/or the dark internet going. The Bitcoin was untraceable from what I understand, it was driving the feds nuts and it became quite valuable at one time.

    I believe the idea was for the bitcoin to be a finite amount of Bitcoin, similar to the gold standard, and to be more or less self regulated and again, untraceable.

    I know the fed finally forced itself upon the industry and created some standards and regulations that seem to have stopped it's rapid growth or least put a damper on it. The Bitcoin or basically digital currency is an interesting concept until the government gets involved with it and there are other crypto-currencies out there at least four more that I know of.

    Crypto-currencies look like a high risk-high return industry, When bitcoin started a BC was worth $.0005 i believe and in about seven years went to a value of about $2,800.00 so a $1000 investment 6-7 years ago would have been good.

    Research it, it is an interesting story but it is way, way, way, above my head, there were some pretty incredible minds involved in this. I don't think crypto-currency is going away.

    (the reason I have commented on this is that I have not lost interest in this and so wish I had pulled the trigger years ago when I had the chance, would have only cost me a few hundred bucks at the time)

  4. #34
    Champ faninmonroe has a reputation beyond reputefaninmonroe has a reputation beyond reputefaninmonroe has a reputation beyond reputefaninmonroe has a reputation beyond reputefaninmonroe has a reputation beyond reputefaninmonroe has a reputation beyond reputefaninmonroe has a reputation beyond reputefaninmonroe has a reputation beyond reputefaninmonroe has a reputation beyond reputefaninmonroe has a reputation beyond reputefaninmonroe has a reputation beyond repute faninmonroe's Avatar
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    Re: Bitcoins

    I just tried to set up my "purse" an set up with an "exchange". Fraud alerts jumped up everywhere and had to shut down my credit card........I'll stick to cash for now.

  5. #35
    Champ ChipDog has a reputation beyond reputeChipDog has a reputation beyond reputeChipDog has a reputation beyond reputeChipDog has a reputation beyond reputeChipDog has a reputation beyond reputeChipDog has a reputation beyond reputeChipDog has a reputation beyond reputeChipDog has a reputation beyond reputeChipDog has a reputation beyond reputeChipDog has a reputation beyond reputeChipDog has a reputation beyond repute ChipDog's Avatar
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    Re: Bitcoins

    It seems to me that the best way to get started is to find someone I know (or am familiar with) who is already established and who has made successful transactions, and have them assist in setting up the "wallet" and then pay them for some bitcoin(s) to get started.

  6. #36
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    Re: Bitcoins

    Quote Originally Posted by faninmonroe View Post
    I just tried to set up my "purse" an set up with an "exchange". Fraud alerts jumped up everywhere and had to shut down my credit card........I'll stick to cash for now.
    I'm with you. Cash will work during both power outages, as well as grid down situations. Being in a situation where I have no way to access my money is my biggest fear about Bitcoin.

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