ippy 66 Posted June 1, 2013 Share Posted June 1, 2013 Got yourself a bitcoin wallet yet? Maybe youve even bought some? I have to say, it looks pretty outrageous stuff and seems like a huge pyramid... try not to be the last dude holding the bag of shit. But honestly, the media are getting hyped trying to explain it, its got an underground black market economy keeping demand for them chugging along, and mainstream legitimate businesses are starting to adopt them. If this is the pyramid, every instinct suggests that theres a lot of people still to come in on it. It had a decent devaluation the start and end of April, and has been stable since then. Ebay are even considering bringing it in. Looks kinda fun to play with to be honest. Link to post Share on other sites
Chriselle 158 Posted June 1, 2013 Share Posted June 1, 2013 Here.... I'll read that for a third time to try to figure out what da hell you're talkin bout. Edit... Nope still no clue. Link to post Share on other sites
pie-eater 207 Posted June 1, 2013 Share Posted June 1, 2013 I always prefer notes to coins. Even whole coins, not just bits of them! Link to post Share on other sites
ippy 66 Posted June 1, 2013 Author Share Posted June 1, 2013 I admit ive only just started trying to figure it out... but theres this slightly cheeky currency out there in the interwebs called bitcoins. When they first started they were worth almost nothing. There are now around 10.5 million or so of the things in circulation (with a hard limit of 21 million in 2040) and users buy them off each other. This creates your classic boom bust economy with lots of spikes and crashes. Theres no regulation protecting against devaluation like say, the bank of england ready to buy up the coins and keep it solvent, so if theres a sell off, its a free for all. Likewise if theres an increase in demand, it skyrockets. Its like economics from a simpler world. Theyre currently worth around US$125 per coin and after a few drops last month they seemed to have reached a stable spot at the moment. A few things to note: its got a strong demand in the nefarious black market on the internet. This helps stabilise at least a bottom for demand; its received a great deal of support from COUNTRIES where their own hard currency is unstable; more companies are taking it seriously and considering offering payment models to use bitcoins; its anonymous and simple (though like bittorrent kinda hard to get your head around when you first start researching it); and finally, its only getting more and more exposure. The way i figure, its unstable, its a bit of a pyramid scheme. But so long as theres room for growth, then you aint at the bottom of the pyramid. It seems theres some real scope for making some quite ridiculous money out there on it. Just thought id bring you up to date on the goings on. That being said, one of my mates did say "more and more idiots are getting excited about this without understanding any of it". Though truth be told theres the rub. Link to post Share on other sites
Chriselle 158 Posted June 1, 2013 Share Posted June 1, 2013 Ah...I see. I'll have to look into further. But, like stocks, by the time you hear about it the big money has already been made. Link to post Share on other sites
@tokyo 14 Posted June 2, 2013 Share Posted June 2, 2013 Can I buy beer with them? Link to post Share on other sites
ippy 66 Posted June 2, 2013 Author Share Posted June 2, 2013 you sure can. Youll just have to download Tor. Link to post Share on other sites
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