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#4495715 - 08/22/17 11:20 PM Bitcoin?
buck91 Offline


Registered: 04/17/12
Posts: 2449
Loc: West Michigan
Is anybody using bitcoin on a regular basis? Does it really offer any (or enough) benefits for an average person to start utilizing it? Love the item of decentralized currency, though the digital aspect makes me a little nervous. That and true practical applications do seem limited (though increasing).
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#4495731 - 08/22/17 11:58 PM Re: Bitcoin? [Re: buck91]
Lucas92 Offline


Registered: 08/16/17
Posts: 11
Loc: Switzerland
Credit cards are about $100 per year where I live.
So I use a wirex credit card which is $12 per year.

I buy bitcoin, put it in the wirex wallet and then exchange the bitcoin for USD and then spend it with their cheap credit card.


Edited by Lucas92 (08/22/17 11:58 PM)

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#4496003 - 08/23/17 09:53 AM Re: Bitcoin? [Re: buck91]
SubLGT Offline


Registered: 01/31/06
Posts: 2646
Loc: Idaho
Bitcoin! The preferred currency of cyber criminals.

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#4496041 - 08/23/17 11:16 AM Re: Bitcoin? [Re: SubLGT]
FordBroncoVWJeta Offline


Registered: 04/16/16
Posts: 768
Loc: KS
Originally Posted By: SubLGT
Bitcoin! The preferred currency of cyber criminals.
Can't be a criminal if you can't track it.;-)
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#4496104 - 08/23/17 12:57 PM Re: Bitcoin? [Re: buck91]
Al Online   content


Registered: 06/08/02
Posts: 18039
Loc: Elizabethtown, Pa
My son bought several hundred $$ a number of years ago. Last time I talked to him it was north of $50K. I would take my money and run but its no big deal for him.
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#4496139 - 08/23/17 01:41 PM Re: Bitcoin? [Re: Al]
JeepWJ19 Offline


Registered: 09/09/15
Posts: 933
Loc: PENNSYLVANIA
Originally Posted By: Al
My son bought several hundred $$ a number of years ago. Last time I talked to him it was north of $50K. I would take my money and run but its no big deal for him.


He is smart. I dread not buying a lot when it was in it's infant stages.
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#4496151 - 08/23/17 01:58 PM Re: Bitcoin? [Re: SubLGT]
uc50ic4more Offline


Registered: 05/31/06
Posts: 3287
Loc: Windsor, Ontario, Canada
Originally Posted By: SubLGT
Bitcoin! The preferred currency of cyber criminals.


... And the internet and encryption the preferred technologies. So what?

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#4496272 - 08/23/17 05:01 PM Re: Bitcoin? [Re: buck91]
PandaBear Offline


Registered: 08/05/02
Posts: 14220
Loc: Silicon Valley
Bitcoin is mainly used for smuggling and money laundering at the moment. The biggest problem is there is no huge military power to defend it like USD does, so if it got taken away by force, hacked, and stolen, that's it, you lose it.

So far it is not debt based and therefore it cannot be QE like all other currency, and its only benefit over physical gold (not electronic or depository note based) is easy transportation. Physical gold still have law of physics as a protection against QE, to a certain extend.

I suspects that in the future blockchain would be used to replace physical money or slow multi day transaction, but our money would still be issued by nations and protected by military forces.
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#4496283 - 08/23/17 05:14 PM Re: Bitcoin? [Re: buck91]
ZeeOSix Offline


Registered: 07/22/10
Posts: 17778
Loc: PNW
Bitcoin ... good for paying ransomware guys. wink

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#4496645 - 08/24/17 05:58 AM Re: Bitcoin? [Re: Al]
LoneRanger Offline


Registered: 07/02/07
Posts: 4058
Loc: Midwest USA
Originally Posted By: Al
My son bought several hundred $$ a number of years ago. Last time I talked to him it was north of $50K. I would take my money and run but its no big deal for him.


That would be early 2013. January 2013 it was like $50/USD and by 1st week of November same yr it had peaked around $1200/USD if I remember right. It shot from low hundreds up through $1000 after China opened up to it and let their people invest in it. Again, if memory serves.
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