Bit Coins does anyone know about these things?

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

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

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    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
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    andaronjim Gold Member

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    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
     
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  3. Toddsterpatriot
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    Toddsterpatriot Diamond Member

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    Bit coins.....think of a chain letter.....on a computer.
     
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  4. hjmick
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    hjmick Gold Member

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    Don't.
     
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  5. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Don't bother.

    Trade desk

    NVDIA

    Namaste Technologies
     
  6. Sunni Man
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    Sunni Man Diamond Member

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    It's a scam based on nothing physical for suckers to invest into and lose their money. .... :cuckoo:
     
  7. MarathonMike
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    MarathonMike Platinum Member

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

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    I own some
     
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  9. Treeshepherd
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    Treeshepherd Wood Member

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    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
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    airplanemechanic Gold Member

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    Bitcoin has lost value recently.
     

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