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Any Bitcoin or Cyrptocurrency enthusiasts?
 

Just curious I think the technology is amazing. Hard to say what will happen with fintech.

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

I would love to get into it but no time or resources :(

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

Yea it is intense I just bought my first couple bitcoins. I was unsure about it about 4 months ago even though I had supported the idea of it. My Capstone project for my MBA was on fintech (financial technology) lots of it was based around Bitcoin and Crypto Currencies. I am pretty convinced on the technology who will be the winner and loser is another thing.

Looking into even taking out small positions in Cyrptos like Dogecoin and Litecoin.

I will say Bitcoin and Altcoins are definitely not for the faint of heart. It is still early days and there is much volatility.

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

You bought first couple of bitcoins?

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

any good articles or website suggestions volgetron so I can get a better grasp of how all this works?

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

i love it, just hate the volatility. it's a huge gamble and only for those who have money they are willing to lose, either by the price of coins falling into hell or just waking up one day to find all of your coins have been stolen.

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

stolen? What do you mean exactly.

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

If I understand it correctly, you put bitcoin into a "wallet" thats encrypted and I guess theres possibilities it can be hacked.


I'd love to get into bitcoin but I just can't grasp it.

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

A few years ago, someone sent me a message on eBay asking if I would take Bitcoin for an item that I had listed. Nobody had ever asked me that before. The item had been listed for months and wasn't selling. It was only $50. So, I got his email and we made the deal. I had always been interested in Bitcoin, but had never come across a reason for using it. I think I got 10 or 11 Bitcoins for the item.

When I took them, I felt stupid because I had my Bitcoin wallet on my PC and thought I would lose them if my hard drive ever crashed. But it wasn't a big deal to me, because we were talking about $50.

A year and a half later, the price of Bitcoins went through the roof! I sold them for $185 each and used the money (after Mt. Gox fees) to have a landscaper come out and create the garden I have always wanted but never wanted to pay for.

I have not done anything with Bitcoins since, because of the volatility, but I do accept them when selling eBay accounts. I would definitely convert them into real dollars as quickly as possible, because the price could very quickly go either way and I - despite my one GOOD experience - am usually on the LOSING end of speculative investments.

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

Bitcoin is great for sellers in my opinion as it reminds me of Liberty Reserve in terms of not having to worry about charge backs etc (hopefully doesn't go down like LR though) but I agree with Jeff I convert it instantly, not interested in speculating fluctuations with my sales atleast

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

can we safely transfer paypal funds to bitcoin?

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

I don't think they can shut it down. Liberty Reserve was centralized and they were not licensed the way they should have been. But Bitcoin is spread out worldwide with the "blockchain".

So, the government could probably declare Bitcoin ILLEGAL if they wanted to, but I don't see how they could stop it.

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

unless you store physically/locally, bitcoin exchanges continue to suffer from intrusion. And not just for pennies, but for 5, 6, 7 figures worth. is it going to happen to you? i don't know. it's just too much risk for me personally right now on top of how volatile the prices already are.

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

In the United States highly unlikely. They US Marshall service already auctioned off some of the Bitcoin seized from the Silk Road shutdown. Which by defacto says that it is legal to own. If anything there could be more regulation.

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

I would say this is probably the best video I have seen with regards to explaining how Bitcoin works.

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

I've received bitcoin for a lower price and sold it for 3x the original receiving price....Not bad.

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

I traded them for a bit a couple of years, was loads of arbitrage chances before everyone was so hot on it. I think its a joke personally as a alternative form of currency, as soon as it gets popular in a country a government can just ban it like they did in China.
People moan about banks with insider trading etc but crypto currency is much easier for people to manipulate

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

1 Bitcoin equals
277.59 US Dollar

The fluctuation is huge when you look at 2014 until now.

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

China hasn't banned Bitcoin they have however banned Financial institutions from being involved in Bitcoin. Some of largest Bitcoin mines are in China.

Personally without wide adoption anything is susceptible to huge volatility. I do think the Block-Chain technology is changing the future of finance. Fintech is about the hottest thing on earth with regards to VC funding. Especially in the UK London and Isle of man are huge on it.

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

Just saw this an thought i had to post.

i'd hate to toot my own horn but i'd consider myself an "expert" in this field lol . I dont mine bitcoin but instead altcoins such as litecoin and ethereum eventually upon its release

To answer a previous post yes you can convert funds from Paypal into bitcoin without involving a bank.

Why would you want to do this?

its untraceable if utilized with stealth and all the perks that come with that i wont mention.

the process is simple:

EBay => Paypal => sll (virtual currency) => bitcoin

With the current instability of the world economy in general (mainly due to fiat money and the sub prime loan epidemic) im an advocate of putting y
our money in something physical that has intrinsic value aka Gold, which you can purchase with bitcoin via a site called bitgold.com.

EBay => Paypal => sll (virtual currency) => bitcoin => Bitgold (gold) [now your moneys safe]

Just a heads up for when the us economy crashes and the usd is worthless and thus u americans adopt the amero and link it to the euro. (spelling world apocalypse)

Finally why dont people accept paypal as a payment for bitcoin?

The reason most bitcoin sellers dont like to sell coins via paypal is because a seller can simply do a chargeback and claim they didn't receive anything.

Is Bitcoin stable?

short answer is No, but its the most stable its ever been holding steady at around 1BTC per $250 / £180.

Why?

Because more and more major ecommerce sites and vendors are adopting it example microsoft and Newegg.

Should you mine it?

no....... unless you have a couple hundred thousand to spend on equipment. The time has gone for mining bitcoin but the next big thing is right around the corner. ETHEREUM!!! (new altcoin yet to be released) <<<<< research

Feel free to ignore this but i felt like posting

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

Bitcoin is certianly useful and seems to be accepted by more and more private users and companies by the day! Here is the Bitcoin wallet that I use...its completely free and instant!

https://blockchain.info/wallet

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

I love the volatility!