Bit Coins does anyone know about these things?

Discussion in 'Stock Market' started by Dan Stubbs, Sep 4, 2018.

  1. Dan Stubbs
    Offline

    Dan Stubbs FORGET ---- HELL Gold Supporting Member Supporting Member

    Joined:
    May 4, 2017
    Messages:
    5,670
    Thanks Received:
    810
    Trophy Points:
    275
    Location:
    Some where in the South.
    Ratings:
    +4,530
    Some guy has been calling about investing in the Bit Coin fiance and I really don't know crap about them. What are they used for./l
     
  2. andaronjim
    Offline

    andaronjim Gold Member

    Joined:
    May 6, 2015
    Messages:
    14,143
    Thanks Received:
    2,144
    Trophy Points:
    290
    Location:
    Floor E Da
    Ratings:
    +12,968
    They are crypto currency, backed by other currencies or products. So if you had 7 thingmagigs that could be worth 50 bitcoins, or $10,000. Instead of having to wait for the translation of money from 1 country to another, this is supposed to be a go between for faster service. My problem with crypto currency as has been shown, is hacking of said currency. Your thingamagig just lost some of its value...

    Bitcoin price plunges after cryptocurrency exchange is hacked
     
    • Thank You! Thank You! x 1
  3. Toddsterpatriot
    Offline

    Toddsterpatriot Diamond Member

    Joined:
    May 3, 2011
    Messages:
    45,090
    Thanks Received:
    5,711
    Trophy Points:
    1,830
    Location:
    Chicago
    Ratings:
    +23,743
    Bit coins.....think of a chain letter.....on a computer.
     
    • Agree Agree x 1
    • Funny and Agree!! Funny and Agree!! x 1
  4. hjmick
    Offline

    hjmick Gold Member

    Joined:
    Mar 28, 2007
    Messages:
    19,064
    Thanks Received:
    5,272
    Trophy Points:
    290
    Location:
    Charleston, SC
    Ratings:
    +10,316
    Don't.
     
    • Agree Agree x 2
  5. CrusaderFrank
    Online

    CrusaderFrank Diamond Member

    Joined:
    May 20, 2009
    Messages:
    100,515
    Thanks Received:
    18,442
    Trophy Points:
    2,220
    Location:
    NYC
    Ratings:
    +65,943
    Don't bother.

    Trade desk

    NVDIA

    Namaste Technologies
     
  6. Sunni Man
    Offline

    Sunni Man Diamond Member

    Joined:
    Aug 14, 2008
    Messages:
    49,331
    Thanks Received:
    7,638
    Trophy Points:
    1,860
    Location:
    Patriotic American Muslim
    Ratings:
    +31,331
    It's a scam based on nothing physical for suckers to invest into and lose their money. .... :cuckoo:
     
  7. MarathonMike
    Offline

    MarathonMike Platinum Member

    Joined:
    Dec 30, 2014
    Messages:
    10,693
    Thanks Received:
    3,305
    Trophy Points:
    390
    Location:
    The Southwestern Desert
    Ratings:
    +19,287
    The technology behind bitcoin called blockchain is going to be a game changer. The value of bitcoin is based on little more than hype. The early investors in bitcoin are multi millionaires, you won't be.
     
  8. Dont Taz Me Bro
    Offline

    Dont Taz Me Bro USMB Mod Staff Member Gold Supporting Member Supporting Member

    Joined:
    Nov 17, 2009
    Messages:
    42,364
    Thanks Received:
    9,368
    Trophy Points:
    2,070
    Location:
    Las Vegas, Nevada
    Ratings:
    +32,390
    I own some
     
    • Winner Winner x 1
  9. Treeshepherd
    Offline

    Treeshepherd Wood Member

    Joined:
    Oct 17, 2014
    Messages:
    13,840
    Thanks Received:
    2,890
    Trophy Points:
    290
    Location:
    Endor
    Ratings:
    +22,444
    Bitcoin is a digital currency which can be used anonymously, like cash. Think of how cash operates... The treasury is aware that a specific $100 bill is in circulation, assuming it hasn't been lost or destroyed. But nobody is sure whose wallet it's in at the moment.

    The block chain program keeps a ledger of all the Bitcoin in circulation. But nobody knows whose digital wallet the value is stored in.

    While new dollars are created thru banking and other shenanigans, new bitCoin is created according to a preset mathematical formula. It's governed by math, not policy-makers. No central bank required. That's especially appealing to people who live in countries with messed-up domestic currency.

    Bitcoin can be instantly verified, as opposed to money wired from a bank, or a check deposited into a bank account. Money can be moved around the world much faster via crypto.
     
  10. airplanemechanic
    Offline

    airplanemechanic Gold Member

    Joined:
    Nov 8, 2014
    Messages:
    5,598
    Thanks Received:
    1,028
    Trophy Points:
    290
    Ratings:
    +5,232
    Bitcoin has lost value recently.
     

Share This Page