Bitcoin hit $700.00 and no one understands it and how to use it. You can buy

it,then what are you going to do with it. You have to get past our banking

system and the fed.

 

Let us know when you withdraw that $700 in cash.

 

@ 12 , If Brownout comes to town ,I will buy him dinner with bitcoin....if that don't work

we will use his company credit card as a write off. You know Brownout is close to Fort,

Lauderdale and I have connections near you.

 

Bitcoin is just another form of barter, only digital style. There are places you can use it if you really want to.

 

Yep. Places that most likely inflate the price quite a bit because they are not getting "real" money.

It's always been a major problem with barter token currencies.

 

Just exactly how-in-blazes would that work...? who holds the " bank " ?

 

has not received a lot of places to purchase items,
but I was just thinking, is it safe for bitcoin exchange to real money?
and send to paypal or Skrill?

 

Personally I wouldn't. If you have to ask the question it is likely not a good idea.

 

I exchanged a couple of mails with Maxpower today and incidentally he asked me to mount a post on his behalf on his thread. He has forgotten his credentials and was viewing it as a guest.

Bitcoins are based on cryptography where there can only by 8 billion bitcoins EVER! Back 5 years ago you mined bitcoins with your pc when it wasn't running, then they evolved into making computers with 4-5 GPU's using those as the processors. People then formed mining groups where they could all work together as bit coins started to run out. Currently 50% have been mined. Now to be profitable you need a special machine running on ASIC's specifically designed for bitmining and they are $$$$$. Now heres how they work. Bitcoins are mined and then you sell them on an exchange which is a live supply and demand based market. in 2008 a BC was $1, by 2013 they hit $100, then $200, now its just flown out of control. The reason they are in so demand is they are untracable from tranaction to transaction. I could sell you a nuke and you pay me in BC's and I can get my money from an exchage in a day and its totally untracable or trackable.(This will change, the gov is trying to hack BC as we speak) Its main advantage is its anonimity. It was really worthless to anyone not dealing major drugs or other contraband on darksites as they are called(a darksite is a website not accessable thru your browser, you need a special anon. proxy to even see these sites and there are tons offering every type of contraband that exists from fully auto military AK's, to heroine. Well even with their illicit use BC's still aren't worth very much cause the demand is not there. Thats where the winklevoss twins and their cohorts come in. They've dumped 100's of millions buying up BC's which drove the price steadily from single digits to triple digits. Now that the Winkies are on board with an auto buy order, many other people with money have seen this as a good investment even though it has no real backing. Its in a bubble now topping at $900 a couple days back but even the speculators are saying thats just insane and the bubbles gonna burst. They just wonder when it does burst if all these speculators dump their BC's they could drop from $900 to $9 in one day. It works great and is what it is, but it will be hacked eventually and everyone thats caught with BC's and not cash could just be out all their money. The idea is cryptography is finite and you can't print more and will be far more secure then any other gauging device or backing. But the big worry is one massive bubble could crash it all. Its also spun off many other "coins" like it. Like Peercoin, Litecoin, etc... Really right now the only people who need it are people who need to transfer illegal money. Thats what I know about BC's right now. Many people are getting stinking rich in days, others will loose everything they have. But the saddest part is if we were involved in this in the beginning, we'd all be millionaires cause we could of made embedded miners like their just doing now 5 years ago."

Ta Da!!!"

 

Give Max a shout out from Loosewire ,we like to have our loyal to he end members.

Give him our best for Thankgiving ,be thankful for what we have.