Casexx i should add I'm not trying to be a big promoter of BTC and for sure am not trying to convince anyone to buy any. I am only stating why I think it has a viable chance of becoming a trusted and medium of exchange.

As a contraarian I find the concept very interesting.

Yes sir understood

Someone just hacked 35 million of that invisible money that could be the panic?

Could a country not "shut it down" the same way they shut down child pornography? By sentencing anyone found to be trading in bitcoin to lengthy prison sentences?

Yes but what good is it if you can’t spend it on anything ???

My 30$ i stuck in bit coin for the (This word is unacceptable on Trapperman) of it has been a roller coaster i couldn't imagine having 100s of thousands in it. I've been up to 50$ now down to 18$

Am I missing something? People who own bitcoin today can't cash it in for cash money?

Yes you can. I could cash mine in right now (even the shares/ones I bought for $47,000) and still be ahead of the game.

We have ATM's around here that are rated for BitCoin. You can put your money into the machine and get yourself a Bitcoin, or partial Bitcoin. It goes into what's called a digital wallet.

Jbyrd, either refuses to see, or has reading comprehension problems, but there are companies that will take Bitcoin for purchases. There are even countries that have made it legal for all purchases.

Microsoft, Paypal, Overstock, Wholefoods, Starbucks, Home Depot, are some of the bigger companies that allow you to use it for purchases.

Basically it's like Apple pay and other digital wallets. They just incorporated BTC into the system to be able to use it for purchases.

Companies that take it are playing a very dangerous game with it. Say you use it to buy a drill.
You walk in buy a $200 drill. They take out the appropriate amount of BTC out of your wallet for the purchase. The next day BTC drops 20%. They have just lost money on that sale. On the other hand. You purchase that same $200 drill and tomorrow BTC goes up 20% they've made more money off that purchase. I'm sure they have safe guards in place so that it instantly turns that BTC into the cash the instant of the purchase. But I can't/won't say for sure because I never looked into using it.

I guess I should clarify also. I didn't drop $45,000 on a BTC. I bought a partial one. I can't remember the actual amount I put into that partial one, but it was less than $200. I'd have to go add the numbers up, but I think I have a total of 8.0005965 BTC. Or some odd number like that.

I also don't sit there and watch the market everyday. You do that and you'll drive yourself crazy. My cousin is one of those people that watches the market constantly. He smokes like a train and sits there and moans about it. His phone is constantly going off with alerts on things he owns. To him a 1% daily loss on a $500 stock is the end of the world. I didn't even know what BTC was at until this thread, because I hadn't looked at it since before Christmas.

Angela, even something so vile as you mentioned can be had if a pervert is willing to look for and take the risk to procure.




Who says you won't be able to spend it as you put it. A better term would be trade it for other goods with willing participants, there is a massive underground economy that thrives in every country everyday. If the masses lose enough faith in the debt backed currency they are using they will find a way to use it illegal or not.

Personally I have no plans to sell mine, I don't expect the America dollar to survive the largesse by the people it serves. I will keep it until it is a universal means of exchange. If that means I lose it all if it fails so be it. That will mean my mainstream investments are healthy a life still goes on.

They didn't hack the block chain.

I don't get it either. It's like monopoly money to me. You can't take a bitcoin to the convenience store and by a pack of smokes. It's like investing in unicorn poop.
However I don't play the stock market and am very limited in my knowledge of it other than it's buying and selling shares in a company. Obviously there are people willing to invest in this selling of thin air so I guess there is ways to make tangible money from it.

So talk me through this, Bitcoin is very valuable, but the value that we gauge it with is in U.S. dollars, which are going to be worthless?????

Oh I see elk You set up an account (buy Bitcoin) then you spend it like a debit card .Just using your Apple Pay analogy But instead of put and take what you add or withdraw you have to look every minute to check your balance. Then you either must go to a country that accepts it for payment OR just buy coffee , health food or 2+4 here in the US
Yea makes perfectly good sense !!

Ok 49er I think you are on to something!!!
You yourself just said what will shut it down
“Massive underground economy “ GUB ment don’t like that They want their part

Jbyrd, I think what you're not getting is that most people, at least most "common" people are buying/selling it like stocks. To most the losses out weight the gains when you figure in the computers and the amount of energy it takes to mine it.

But yes it can be used just like Apple pay, or a debit card. I am not. I could sell what I have right now on a trading site, and make a ton of money. But I'm just playing the game for now. If it goes to a number I have already picked out I'll sell and still come out ahead. Much like I do with all of the stocks I own.

Will I lose money on it?? Who's to say?? I could miss a really drastic fall and lose. But that is the nature of the game. My only real regret with it is that I didn't hear about it when it was in it's infancy.

I currently am mining etherium and etherium classic with a little raven coin thrown in the mix.Its expensive to start up a mining rig which basically is made from a computer motherboard and video cards.The cost of new and used video cards is outrageous right now and a mining rig generates a lot of heat ,so much in fact I haven’t had to run my heater yet this winter and actually saved a couple bucks a month from using my heat pump.I currently have 3 mining rigs with 17 video cards running which produces about .25 etherium and 1 etc a month.I started in May last year and invested 5300.00 in all the equipment.I recouped that money Dec 30.My next endever will be helium mining you’ll need to google that lol.Its easy to sell the coins but there are fees to do so I sell it off at 1000.00 increments and cost between 4-6 dollars depending on network fees.

No idea what a block chain is I’m guessing that might be the reason for the panic with the lack of understanding the ins and outs of it for many people.

You can’t take a stock certificate to a store and buy a pack of smokes either lol but the stock certificate is still worth real fiat.My last purchase of a computer power supply and cables was with etherium.

That’s why I never leave my coins on an exchange,when I transfer to an exchange it’s sold the minute it hits the exchange and the cash is transferred to my checking account.Hackers hack exchanges they can’t get to your wallet.