Anyone buying bitcoins?
 

As compelling as it is, I decided to stay away. Some believe it's the standard bankless, nationless future of currency, while others call it tulip trading in realtime. I don't think anyone really knows, but it is creeping towards the mainstream.

I've heard a lot about it lately, its main strength is its anonymity in transfer. Right now its gotten ridiculously inflated though, I have to imagine it'll crash soon.

Thousands of people and businesses are signing on every day. Are they all idiots or do they know something? If someone wanted to pay you in bitcoins to buy your MB would you accept?

Well, depends on their intent and purpose. Bitcoins are great if you need to do shady or international business and don't want to worry about wire transfers and all that. I would not accept only bitcoins for my MB, if they were generous, I'd take it as partial payment just for the heck of it and see where it goes.

It's not legal tender though, how is the .gov gonna tax you? ;)

I choose to only accept Green Mountain Hours as payment ;)

Think Globally, Spend Locally

So if you get paid your salary in bitcoins, then no income tax? If I were the Fed I would be shutting them down right now, but maybe they are powerless to do so.

I mine and sell them.... :)

It's compelling to have like a 75% drop in value over 2-3 days? Sign me up!! It'll be fun, one day you'll be able to buy a mercedes, the next a snickers bar :)

Way over My Head. Can bitcoins be counterfited? Can bitcoins be robbed from you.

What happens if there is no internet?

Buy low.....

Sell lower? I'm just joking, but the mtGox hack a while back took the price down to what? .01

I can't see how this is going to be any good with such volatility. How is a business going to sell anything in exchange for bitcoins if it's worth $100 on day and $50 the next? I think it would be fun to put some play money in. It probably has some more wild swings in the future.


@Diesel911. I doubt they can be counterfeited. Can they be stolen? Yes. MtGox the exchange/bank where most are traded was hacked 2 years ago. 500,000 bitcoins were reported stolen. That was around 1/13th of all bitcoins available. At that time they were worth around $17, can you imagine if that happened now or even a few days ago when they were worth $50 and $250 respectively?

It would appear that bitcoins are still around.

https://nypost.com/2017/12/04/winklevoss-twins-become-worlds-first-bitcoin-billionaires/
I think this may have been discussed but it is still a very strange concept to me. I remember reading a scif-fi book once that brought up a very interesting concept. Money itself has no inherent value. The one dollar bill in our wallets only has value for goods or services because we all agree it has value. That goes the same for pretty much anything I guess.

The discussion here is some what reflective of this. Most does a bitcoin have value? Seems that someone(s) think it does. I'm not familiar with it so I don't know what it's worth. What's it's value based on? Why does it fluctuate so much. I would think one of the requirements of a currency is some sort of stability, at least with in some sort of range. The other strange thing is that you can get bitcoins by mining them with a computer.

I have no idea how you earn them or how you spend them. The only thing I can relate them to is the barter system.

Or electricity.

I did buy NVDA at $90/share a while back. They make the puters that mine the coins.