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Bitcoin? #4495715
08/22/17 10:20 PM
08/22/17 10:20 PM
Joined: Apr 2012
Posts: 2,697
West Michigan
buck91 Offline OP
buck91  Offline OP
Joined: Apr 2012
Posts: 2,697
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).


2011 F150 4x4 5.0L
1996 Mustang GT 5spd/ragtop
Re: Bitcoin? [Re: buck91] #4495731
08/22/17 10:58 PM
08/22/17 10:58 PM
Joined: Aug 2017
Posts: 11
Switzerland
Lucas92 Offline
Lucas92  Offline
Joined: Aug 2017
Posts: 11
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.

Last edited by Lucas92; 08/22/17 10:58 PM.
Re: Bitcoin? [Re: buck91] #4496003
08/23/17 08:53 AM
08/23/17 08:53 AM
Joined: Jan 2006
Posts: 2,690
Idaho
SubLGT Offline
SubLGT  Offline
Joined: Jan 2006
Posts: 2,690
Idaho
Bitcoin! The preferred currency of cyber criminals.

Re: Bitcoin? [Re: SubLGT] #4496041
08/23/17 10:16 AM
08/23/17 10:16 AM
Joined: Apr 2016
Posts: 965
KS
FordBroncoVWJeta Offline
FordBroncoVWJeta  Offline
Joined: Apr 2016
Posts: 965
KS
Originally Posted By: SubLGT
Bitcoin! The preferred currency of cyber criminals.
Can't be a criminal if you can't track it.;-)


2017 Volkswagen Jetta 1.4T - 2015 Honda CRV 2.4 - 2012 Volkswagen Jetta 2.0 - 2001 Pontiac Sunfire 2.2
Re: Bitcoin? [Re: buck91] #4496104
08/23/17 11:57 AM
08/23/17 11:57 AM
Joined: Jun 2002
Posts: 18,283
Elizabethtown, Pa
Al Offline
Al  Offline
Joined: Jun 2002
Posts: 18,283
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.


Re: Bitcoin? [Re: Al] #4496139
08/23/17 12:41 PM
08/23/17 12:41 PM
Joined: Sep 2015
Posts: 994
PENNSYLVANIA
JeepWJ19 Offline
JeepWJ19  Offline
Joined: Sep 2015
Posts: 994
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.


2002 Jeep WJ 4.0 | Mobil 1 HM 5w30 |
TG8A | 2.5" lift | 148k miles

Software Engineer :]
Re: Bitcoin? [Re: SubLGT] #4496151
08/23/17 12:58 PM
08/23/17 12:58 PM
Joined: May 2006
Posts: 3,346
Windsor, Ontario, Canada
uc50ic4more Offline
uc50ic4more  Offline
Joined: May 2006
Posts: 3,346
Windsor, Ontario, Canada
Originally Posted By: SubLGT
Bitcoin! The preferred currency of cyber criminals.


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

Re: Bitcoin? [Re: buck91] #4496272
08/23/17 04:01 PM
08/23/17 04:01 PM
Joined: Aug 2002
Posts: 14,560
Silicon Valley
PandaBear Offline
PandaBear  Offline
Joined: Aug 2002
Posts: 14,560
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.


"You keep asking questions PandaBear and you'll end up a vegetarian like my wife" - Camu Mahubah
Re: Bitcoin? [Re: buck91] #4496283
08/23/17 04:14 PM
08/23/17 04:14 PM
Joined: Jul 2010
Posts: 19,263
PNW
ZeeOSix Offline
ZeeOSix  Offline
Joined: Jul 2010
Posts: 19,263
PNW
Bitcoin ... good for paying ransomware guys. wink

Re: Bitcoin? [Re: Al] #4496645
08/24/17 04:58 AM
08/24/17 04:58 AM
Joined: Jul 2007
Posts: 4,336
Midwest USA
LoneRanger Online content
LoneRanger  Online Content
Joined: Jul 2007
Posts: 4,336
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.



'09 Subaru Forester ...................(QS HM 5W30)
'16 Moto Guzzi Stelvio 1200 .....(ENI i-Ride PG 10W60)

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