Bitcoins?

[IceWizard]

They do flucuate.... You never know which way, but like Grandote said... He invested xx dollars and they increased dramaticaly... So you never know... And seein how they are more or less "untraceable" it reallly adds to their value and they can be accessed and used no matter what country without the conversion process of different monies....

The pros actually make them very alluring to use....

Ice

[selfless-desires]

I wish it was more untraceable but it very much is. watch this https://youtube.com/watch?v=AypRF9q0llU lends to what I mean.

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You all make great points about them and I love them myself, likewise invested . I just don't like when they are claimed to be this wonder money they aren't.

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Also it depends how you use it. The fluctuations mainly apply for long term use not short term. If buying coin to quickly buy something with them, they typically retain the same value they were purchased for. In a longer term they fluctuate but there are many variables to this including miners, traders and much more.

[Grandote]

In a few years they may be worth thousands per coin. The chance of them going to zero is not worth worrying about though they do fluctuate. We are seeing massive devaluations in the spending power of money. If the euro goes down faster than the dollar we say the dollar went up but it didn't really. Our purchasing power is going down. They just devalued the yuan again, the ruble is almost worthless, and more of that is on the horizon. People are wising up that govt is printing and dumping currency to stay afloat. If not for oil dropping in price we would be faced with massive inflation. Its coming.

The govt can't print up bitcoins, they can't stop people from sending them or using them as they wish. If we reach a tipping point, bitcoin could shoot to the moon. Govt is starting "bail-ins" which means they rob money out of people's bank accounts. They already did it in parts of europe, they call it a haircut. They can't give your bitcoin wallet a haircut no matter how much they may want to. If 1 person in 100 bought 1 bitcoin each, the price would go to tens of thousands of dollars per coin. The sky is the limit.

[luvhandles]

Hi! I hope I'm allowed to ask or post about this, but I was hoping someone with more experienced would be able to answer a few questions I might have....
First off, what are the confirmations about? I think now I must be wrong but I thought that when it says 3 confirmations needed, that I have to make 3 transactions to the same account in order for it to be processed.
I have 1 outgoing transaction that has been pending for ages now. And I put 3 into my wallet which was successful, but says still pending.
I understand that reserved amount is the amount I'm trying to send out... but I dont understand confirmations or what it means. Could someone please explain to me?
Ty

I have never trusted the bit coin deal but never took the dive in buying them?

[MaltoseFalcon]

For those who are thinking about mining them, it is not a profitable venture unless you have free electricity. You will most likely never see a return on the cost of the mining hardware nor the electricity used in mining. The thing is, the difficulty is always increasing because there is so much mining going on. I read an article last night stating that most of the computational mining power was in the hands of something like 9 people. So unless you are one of them, the odds are very small that you will profit substantially from mining.

[JJ Abrams]

No clue why any source would ever turn down bit coins.
If I was to open up shop I would accept BTC exclusively.

[MaltoseFalcon]

No clue why any source would ever turn down bit coins.
If I was to open up shop I would accept BTC exclusively.

I think that is a wise plan, long-term.  I would probably do the same.  But I think a lot of vendors want something more liquid without the short-term volatility.

[JJ Abrams]

No clue why any source would ever turn down bit coins.
If I was to open up shop I would accept BTC exclusively.

I think that is a wise plan, long-term.  I would probably do the same.  But I think a lot of vendors want something more liquid without the short-term volatility.

I agree.. But there is no longevity in short term volatility.
Some of these third world vendors need to reassess their methods.
Same with a few domestic suppliers I can think of.

[BoomerB]

I had my first experience last week. 2 weeks i should say.
Cuz it takes 10 days from your liquid cash to become bitcrap. And in that ten days your stake devalued 5%. I put in 150 for a vendor who decided that was now too small to take in btc. So im stuck witg these things. Lucklily a rc vendor was doing a crazy discount for btc so i figured liquidate - i went in my wallet, click send, enter the provided vendor wallet. I forget if i had to do something beyond that

[Grandote]

Here is an inside tip. The bitcoin mining reward will be cut in half the middle of this year. That means less new coins coming on the market which means the price will shoot up. Buy now or hold what you have and watch your investment grow. And they are good for spending too if you don't have enough will power to save them. Lots of legit places take bitcoin now.