Please Help Me Understand BitCoins
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Thread: Please Help Me Understand BitCoins

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  1. #1

    Dec 2015
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    All Types Of Treasure Hunting

    Question Please Help Me Understand BitCoins

    Nice forum. I am actually looking for some help understanding BitCoins.

    If anyone has any advice or suggested reading for a novice such as myself it would be greatly appreciated! Where do you buy them? Where do you keep them? How much is a BitCoin worth? Are they safe to buy/use? I would love to have a better understanding of the whole BitCoin scene so I can share my new found understanding with my friends at nodepositforum.com. I get asked questions about BitCoins all the time and have to tell them I don't understand how they work enough to answer. Help?

    Thanks in advance!
    Rebel - KGC likes this.

  2. #2
    gb
    Aug 2014
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    I can Google that for you ...

    https://bitcoin.org/en/how-it-works
    https://bitcoin.org/bitcoin.pdf

    ... but I still don't understand.
    Rebel - KGC likes this.
    www.johnwinter.net
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  3. #3
    us
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    I read somewhere, maybe it was a YouTube, but someone made them on a 3D printer. I'll have to look in my history to see if I can find it again.
    Chop wood..Carry water

  4. #4

    Dec 2012
    MXT-PRO Sandshark
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    save yourself time, toss your money down the toilet

    bitcoins are not real
    Iím the only one of me, baby thatís the fun of me.. / brendon urie

    DONíT TRUST WHITEY / Navin Johnson


    EVERYTHINGS GONNA BE ALRIGHT, EVERYTHINGS GONNA BE OK.
    ITS GONNA BE A GOOD GOOD LIFE, THATíS WHAT MY THERAPISTS SAY. / Bebe rexha


    IF YOUíRE LOST AND ALONE, OR YOUíRE SINKING LIKE A STONE, CARRY ON / Fun

    AND IN THE END THE LOVE YOU TAKE IS EQUAL TO THE LOVE YOU MAKE. - Paul mccartney

  5. #5
    us
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    Quote Originally Posted by jeff-gordon View Post
    save yourself time, toss your money down the toilet

    bitcoins are not real
    That's not true ... don't toss your money down the toilet! Send it to me --- uh, you can trust me. (just kidding, about sending the money.)

    Bitcoins. The preferred currency of extortionists everywhere simply because it is untraceable.

    Usually, it starts with a call from "Harry" with Microsloth who is worried because, "your computer is sending out viruses"!
    "When under trial, let no one say: 'I am being tried by God.' For with evil things God cannot be tried, nor does he himself try anyone. . . . Do not be misled, my beloved brothers. Every good gift and every perfect present is from above, coming down from the Father of the celestial lights, who does not vary or change like the shifting shadows." --- James 1:13, 16, 17

    A few of my favorite pix: https://www.500px.com/ccjr221

  6. #6
    us
    Fortune Favors the BOLD, while Karma Favors the Wise!

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    Jeff-Gordon,

    They are very real, and can be used as legal tender at many places all over the world. The idea behind Bitcoin is phenomenal. No more crap currency tied to wishes not gold. The problem with Bitcoin is that it challenges the Dollar, Euro, and every other currency in the world. The US Government were the likely culprits behind most of the Bitcoin thefts. A perfect example is when Uncle Sam took down Silk Road Market (Dark Web). One of the Secret Service Agents involved stole eight hundred and twenty thousand dollars in Bitcoin:

    SECRET SERVICE BITCOIN THEFT

    Here is a list of just some of the businesses that accept Bitcoin:

    BITCOIN BUSINESSES

    Enjoy - Mike
    "You wouldn't like me when I'm mad, because I back up my rage with hard facts and logic!" - The Credible Hulk

    ............... ALWAYS REMEMBER: When you make a typo, the errorists win...................Aloha Snackbar!

  7. #7

    Dec 2012
    MXT-PRO Sandshark
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    well it's my old man opinion so it's worth what you paid for it.

    ooops there goes a unicorn!
    Chadeaux likes this.
    Iím the only one of me, baby thatís the fun of me.. / brendon urie

    DONíT TRUST WHITEY / Navin Johnson


    EVERYTHINGS GONNA BE ALRIGHT, EVERYTHINGS GONNA BE OK.
    ITS GONNA BE A GOOD GOOD LIFE, THATíS WHAT MY THERAPISTS SAY. / Bebe rexha


    IF YOUíRE LOST AND ALONE, OR YOUíRE SINKING LIKE A STONE, CARRY ON / Fun

    AND IN THE END THE LOVE YOU TAKE IS EQUAL TO THE LOVE YOU MAKE. - Paul mccartney

  8. #8
    us
    Aug 2012
    New Mexico USA
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    Quote Originally Posted by jeff-gordon View Post
    save yourself time, toss your money down the toilet

    bitcoins are not real
    They are as real as our paper money. The same thing is backing Bitcoins is the same thing backing our dollar and that's faith.

    It's like most things, they are worth what someone will pay and someone else will value. Right now Bitcoins have recognized something that most people don't. That's that money is not really worth anything except what it can do. So their creators created a currency that people saw had an advantage over nationalized money.

    Could Bitcoins fail? Sure, just as any money can. When we had the gold standard it was easier to put a value on a dollar. Today, not so much as it's floated on the world market like a commodity. Pork bellies if you will.

    Today economies are Faith based. As long as someone believes, the money has value.
    Today Bitcoins are the best thing going to buy stuff you never could easily before. A great way to launder money. No paper trail if you buy and trade right. Buy illegal drugs, sure like the Silk Road.

    The world economies are nothing but a deck of cards. It's Las Vegas on steroids and the wild West together. We pretend to value a piece of paper even though what we really value is what that paper can do. Same with Bitcoins.

    And no I have never bought them or plan to. I just see the nitch they created.

    Are Bitcoins a hyped market? By a hyped market an example might be 1960's Detroit muscle or Barbie dolls. The Detroit muscle cars, as anyone that knows that was there, were Detroit junk that had a 90 day warranty and rusted to pieces in few years. Barbie doll were made by the millions and were never rare. The value of these things are what I call a hyped market generated by telling people what they should value and placing ridiculous prices on them.
    Do Bitcoins fall into this? I don't know. I do see them outlasting their critics so far.

    If there were just ONE global currency, how would you value it? I would be like having just one stock to buy.
    Chop wood..Carry water

  9. #9

    Dec 2012
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    well, as Mark Twain said " tell it to the marines, they might buy it"
    Iím the only one of me, baby thatís the fun of me.. / brendon urie

    DONíT TRUST WHITEY / Navin Johnson


    EVERYTHINGS GONNA BE ALRIGHT, EVERYTHINGS GONNA BE OK.
    ITS GONNA BE A GOOD GOOD LIFE, THATíS WHAT MY THERAPISTS SAY. / Bebe rexha


    IF YOUíRE LOST AND ALONE, OR YOUíRE SINKING LIKE A STONE, CARRY ON / Fun

    AND IN THE END THE LOVE YOU TAKE IS EQUAL TO THE LOVE YOU MAKE. - Paul mccartney

  10. #10
    us
    Aug 2012
    New Mexico USA
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    Quote Originally Posted by jeff-gordon View Post
    well, as Mark Twain said " tell it to the marines, they might buy it"
    Peace to you also. I was just examining why and what we value as currency. The Chinese tribute..."May your life be interesting". Well I believe ours has been.
    I know today I can use Bitcoins as an exchange for most of whatever I value. Before Dollars and Bitcoins there were sea shells, it could be pebbles, it still represents a barter. Before what we agreed on what money was, there was barter. Much more convenient than carting a goat around.

    The only difference between Bitcoins and all the other currencies is they have no Nationality and no alliance. When dealing with sea shells it was the same unless your tribe had no interest in sea shells.
    Really, of all people Americans should be the most comfortable with Bitcoins as they seem to represent the attitude of "I'll do it myself"! I believe it's possible a new currency has been invented and it's based on the same thing all the rest are....Faith.
    Before asking yourself what's wrong with them... ask how can they benefit me. The answer might be why they might succeed as a currency.

    It's all just faith...Peace
    Chop wood..Carry water

  11. #11

    Dec 2012
    MXT-PRO Sandshark
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    alert me when you can get coffee at mcdonald's with a bitcoin
    Iím the only one of me, baby thatís the fun of me.. / brendon urie

    DONíT TRUST WHITEY / Navin Johnson


    EVERYTHINGS GONNA BE ALRIGHT, EVERYTHINGS GONNA BE OK.
    ITS GONNA BE A GOOD GOOD LIFE, THATíS WHAT MY THERAPISTS SAY. / Bebe rexha


    IF YOUíRE LOST AND ALONE, OR YOUíRE SINKING LIKE A STONE, CARRY ON / Fun

    AND IN THE END THE LOVE YOU TAKE IS EQUAL TO THE LOVE YOU MAKE. - Paul mccartney

  12. #12
    us
    Aug 2012
    New Mexico USA
    My Head
    2,294
    1790 times
    Quote Originally Posted by jeff-gordon View Post
    alert me when you can get coffee at mcdonald's with a bitcoin

    seriously, that's what Bitcoins are about. They are an alternate currency w/o borders. Think of the problem of needing to deal with nationalities floating their money to try to gain an advantage over other countries.
    Sure it will always be like that. My sea shells are more rare than your pebbles. But now it's just paper and the "promise" that it will be valued. Bit Coins, no difference.
    The fact, as I see it, is we have been duped into thinking our money has value when it's like the Kings new clothes. The King is naked and the only thing holding the World's economies together is FAITH. There is nothing of value supporting their money except the idea that the country will retain it's value and that we all keep playing the game.

    How do we value a country's ability to pay it's debts, keep it's promises. The USA is seen as an honest country to park foreign money even though interest rates are obnoxious. Safe haven especially for those in other governments where some people have future interests.
    Many countries look for a bail out when they over estimate their world value. Very low. Will Bit Coins become a viable trade option? Probably when we can no longer trust many Governments. And ya, I'll buy the coffee.
    Governments come and go. The only thing a Roman coin will get you is to some collector. No coffee.
    Interesting times.

    I've watched Blade Runner a few times' It's when governments are no longer viable and the corporates assume control. Not really hard to imagine. It seems to me they already control our( strike that) their government.

    But I can understand wanting to hold on to what we find as comforting ie: our economy. Problem it's all so fragile. Faith based.
    Last edited by hvacker; Dec 21, 2015 at 10:32 PM.
    Chop wood..Carry water

  13. #13
    us
    Nov 2008
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    Quote Originally Posted by jeff-gordon View Post
    alert me when you can get coffee at mcdonald's with a bitcoin
    Ronald McDonald House Charities accept bitcoin for donations through a partnership with Bitpay. There are many indications that point to bitcoin being accepted by McDonald’s in the very near future

 

 

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