Bitcoin
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@scottalanmiller said in Bitcoin:
I think that we need to step back. In the OP you were asking what Bitcoin was. Now you are acting like you might be interested in using it. But ask yourself... why?
I was interested to know more about it first.since I didn't used before in my day-to-day life.so now interested how to use?
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@lakshmana said in Bitcoin:
@scottalanmiller said in Bitcoin:
I think that we need to step back. In the OP you were asking what Bitcoin was. Now you are acting like you might be interested in using it. But ask yourself... why?
I was interested to know more about it first.since I didn't used before in my day-to-day life.so now interested how to use?
I would avoid it. The theory is great, I'm glad that people play with it and it's important to have decentralized currencies i the world - but unless your are a drug dealer, I see zero reason to be interested in actually using it.
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@lakshmana said in Bitcoin:
@scottalanmiller said in Bitcoin:
I think that we need to step back. In the OP you were asking what Bitcoin was. Now you are acting like you might be interested in using it. But ask yourself... why?
I was interested to know more about it first.since I didn't used before in my day-to-day life.so now interested how to use?
Bitcoin is a form of currency like anything else. To earn bitcoin you have to setup bitcoin miners, and have them work on the blockchain, if you're lucky you'll discover a new block.
The system would pay you bitcoins for discovering the block.
Alternatively you could join a bitcoin mining pool, and contribute to the processing power of the pool, and when the pool finds a new block, they pay you a portion of the award dependent on the amount of processing power you put towards it.
Just think of bitcoin or any cryptocurrency money. You have to work for it. Or you buy into it with with other currency.
The wallet management aspect is a completely separate issue to this.
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@dustinb3403 Yep. That's just my luck.
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@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
@scottalanmiller said in Bitcoin:
I think that we need to step back. In the OP you were asking what Bitcoin was. Now you are acting like you might be interested in using it. But ask yourself... why?
I was interested to know more about it first.since I didn't used before in my day-to-day life.so now interested how to use?
I would avoid it. The theory is great, I'm glad that people play with it and it's important to have decentralized currencies i the world - but unless your are a drug dealer, I see zero reason to be interested in actually using it.
Hey now, human traffickers use Bitcoin too...
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@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
@scottalanmiller said in Bitcoin:
I think that we need to step back. In the OP you were asking what Bitcoin was. Now you are acting like you might be interested in using it. But ask yourself... why?
I was interested to know more about it first.since I didn't used before in my day-to-day life.so now interested how to use?
I would avoid it. The theory is great, I'm glad that people play with it and it's important to have decentralized currencies i the world - but unless your are a drug dealer, I see zero reason to be interested in actually using it.
Hey now, human traffickers use Bitcoin too...
That's how @RojoLoco found his latest squeeze
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@restoronixsean The reason nothing ends up decentralized anymore, outside of investor interests, has a lot to do with the fact that it's just easier to control a closed ecosystem. Its harder to build compatible moving parts and keep them upgrade.
The biggest recent thing in memory would be Open Whisper Systems.
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@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
@scottalanmiller said in Bitcoin:
I think that we need to step back. In the OP you were asking what Bitcoin was. Now you are acting like you might be interested in using it. But ask yourself... why?
I was interested to know more about it first.since I didn't used before in my day-to-day life.so now interested how to use?
I would avoid it. The theory is great, I'm glad that people play with it and it's important to have decentralized currencies i the world - but unless your are a drug dealer, I see zero reason to be interested in actually using it.
Hey now, human traffickers use Bitcoin too...
Who are Human traffickers?
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@lakshmana said in Bitcoin:
@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
@scottalanmiller said in Bitcoin:
I think that we need to step back. In the OP you were asking what Bitcoin was. Now you are acting like you might be interested in using it. But ask yourself... why?
I was interested to know more about it first.since I didn't used before in my day-to-day life.so now interested how to use?
I would avoid it. The theory is great, I'm glad that people play with it and it's important to have decentralized currencies i the world - but unless your are a drug dealer, I see zero reason to be interested in actually using it.
Hey now, human traffickers use Bitcoin too...
Who are Human traffickers?
People who ship slaves.
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It seems that bitcoin needs to mature quite a bit before I would consider using it. Coins simply disappearing because of a glitch with no way to recover is insane.
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@wrx7m Coins disappearing may be a business behind it who knows ?
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It seems that bitcoin needs to mature quite a bit before I would consider using it. Coins simply disappearing because of a glitch with no way to recover is insane.
Not "exactly" a glitch. They've put out a warning that it was coming due to a planned change.
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@scottalanmiller - I see. However, that is still a deal-breaker for me.
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It seems that bitcoin needs to mature quite a bit before I would consider using it. Coins simply disappearing because of a glitch with no way to recover is insane.
If you have bitcoins and dont know about this chances are that you are safer than more advanced BTC users are. Your coins are probably already stored by a bank that is part of the NYA crowd.
Also, if you aren't moving or spending coins in the months to come there is no chance of replay/loss of your BTC. And if you are spending them there are just extra steps to ensure someone else doesn't screw you over.
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@scottalanmiller - I see. However, that is still a deal-breaker for me.
I agree, I'm not going to touch it.
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Just my two cents I thought about buying when it was at $0.10 and I didn't Then it hit $200 a coin. So I said "I'm not doing that again, so I put my money where my mouth is and bought when it was $250 a coin. I buy $10-15 a week, nothing more than I am ok with loosing. Right now it is at $2,500 a bitcoin. I have bought a few things, but for the most part it is just a play hobby. I currently own .400 of 1 bitcoin. I know it could all go up in flames, but a 10 fold investment isn't a bad side hobby to have. I suggest everyone who wants to learn about it, buy in, but never spend more money than you would be ok with loosing.
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Also every argument about how bitcoin is scary or used for illegal purposes also applies to paper cash, and I will bet most people who say it is just used for criminals also have a just in case $20 in their back pocket. For me it is nice having a little side money that can easily be used in an emergency in any country on the planet and not linked to any government or overseeing body and can not be taken from me.
