BITCOIN Digital Currency Boom - Are You Using It?

kind2creatures

...elusive dreamer
Joined
Apr 5, 2009
Location
USA
The Bitcoin is a fairly new digital currency that is being used in America, China, India, Australia, UK, and other countries. It makes transactions with other countries easier, regardless of differences in currencies. This system also eliminates delays, holds, extra charges, etc. usually found when using credit cards, paypal, etc. Another plus is that there's no sticky fingers, or noses of the government being poked in for control and profits. http://www.latimes.com/business/la-fi-bitcoin-boom-20131209,0,4687478.story#axzz2n5wbrJ5G
 

saved1986

In seaerch of spicy food
Joined
Aug 8, 2009
I do not trust bitcoins, too volatile.
 

harrisgreg

New member
Joined
Sep 8, 2014
Location
UK
Bitcoin just ended-up being an investment vehicle for speculators.

I think something will come along in terms of an independent online currency, but Bitcoin at this point just isn't trusted.
 

Ajax

Member
Joined
Oct 25, 2012
Location
Chicago Area
I'm skipping Bitcoin and sticking with Paypal. At least with Paypal, when you deposit 50 bucks, it remains at 50 bucks no matter what the markets do.
 

DavyKOTWF

New member
Joined
Dec 14, 2017
Location
Kentucky
Bitcoin hit a high of about $19,600 a week ago. Last few days, crashed down to $11,500 and change; that was down just over 35% in two days. Back up today at $15,500.
It's a balloon in search of a pin, IMHO.
Con artists use it too, so caveat emptor. A year ago, I bought for the first time about $175 worth of Bitcoin, in order to order some special, tea from S.A. for my health. I sent off $170 to these guys and never heard from them again. 11 months later, I remembered I had $5 left so checked on it and found it was worth $27. So I cashed it in after a 15% transaction fee.
 

jfh

perpetual student
Joined
Dec 3, 2007
Location
Texas, USA
IMHO, bitcoin or other cryptocurrency is just gambling. It is like any other commodity. It's price is only determined by public interest. I guess that is true or physical commodities too. But in this case, there is absolutely nothing backing it other than interest. I don't know if it will catch on. So it is going to be very volatile for quite a while. I don't trust it as a long term currency. Hackers will find a way to spoil it. Technology can fail too.
 

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