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    News Center - Thread: Bit coins

    1. #1
      DHoffmann's Avatar
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      Bit coins

      Who is pushing this?
      From what I know its dirty dirty money, created from the dark web for buying black market items and sex trade, child porn drugs and guns. Are people really serious about this??
      Getting closer and closer to a cashless society.

      Sent from my LGLS755 using Tapatalk

    2. #2
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      Anything that's mostly anonymous is going to be appealing to people involved in shady activities.

      Bitcoin is potentially also useful for international transactions in that it cuts out the middlemen who offer little value but still insist on taking a generous cut of every transaction. It's also appealing to people who don't trust governments to manage national currencies (and there are many reasons to distrust national governments).

      Whether bitcoin will prove to be a useful hedge against financial collapse remains to be seen as it has never really been tested. It's also something of a speculative product and, having risen from about $1,000 at the beginning of 2017 to nearly $20,000 later in the year it's easy to see why people want a piece of the action. What doesn't help is that some analysts believe it could hit $100,000 or higher while others say it will collapse to zero sooner or later. (Personally I think it's too speculative to put any meaningful cash into it, even if that does mean I miss out on further potential gains).

      I wouldn't say it's specifically dirty money pushing it, any more than I'd say dirty money pushes cash. It's just that people doing shady deals don't want to be traced and it's easier to transfer $1m worth of Bitcoin than it is to haul a stack of $100s around with you. As soon as the concept of "used, low denomination notes" comes into play then $1m in cash is the sort of thing it takes a suitcase to haul around, whereas $1m in Bitcoin could be sitting on a microSD card.
      "Do what thou will shall be the whole of the law" - Aleister Crowley

      "If you love me, obey my commandments" - Jesus Christ

      The Bible comes as a complete package. If we want to pluck verses out of context so make them mean what we want them to mean, if we want to ignore the passages that are inconvenient to our outlook, we should be intellectually honest enough to throw our Bibles in the trash and admit we are following Crowley and not Christ.

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    4. #3
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      I kept getting emails that I had to take my bitcoins. Never ordered any. Thought it was spam.

    5. #4
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      I don't have any bit coin investments and I don't see myself taking that chance any time soon either. If you like doing investments for entertainment and have money to lose then it's not a big deal. But how many of us have that luxury?
      "Christianity does not require more work but more trust." Pr. Jonathan Fisk
      "Bearing fruit does not make you a branch. A branch is a branch because it grows from the vine." Pr. Jonathan Fisk

    6. #5
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      Quote Originally Posted by Lämmchen View Post
      I don't have any bit coin investments and I don't see myself taking that chance any time soon either. If you like doing investments for entertainment and have money to lose then it's not a big deal. But how many of us have that luxury?
      So people invest in this? To dislodge from the government? I knew what it was a while back before all the craze but its all over the place, even here with tapatalk and on facebook

      Sent from my LGLS755 using Tapatalk

    7. #6
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      I must be living in a cave. I have no idea what your talking about.

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    9. #7
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      Quote Originally Posted by jsimms435 View Post
      I must be living in a cave. I have no idea what your talking about.
      People are buying super mario brothers coins to overthrow the banks and destroy the government

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    11. #8
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      Quote Originally Posted by DHoffmann View Post
      People are buying super mario brothers coins to overthrow the banks and destroy the government
      I'm betting that Trump beats them to it

    12. #9
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      Quote Originally Posted by jsimms435 View Post
      I'm betting that Trump beats them to it
      .

    13. #10
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      Quote Originally Posted by DHoffmann View Post
      So people invest in this? To dislodge from the government? I knew what it was a while back before all the craze but its all over the place, even here with tapatalk and on facebook

      Sent from my LGLS755 using Tapatalk
      As with many investments people invest for a variety of reasons. Some people are speculating, merely hoping the price continues to rise. Some people are seeking to hide their financial activity from government. I'm sure some people use bitcoin and other cryptocurrencies to simply ease cross-border transactions. Still others are using it for a variety of nefarious purposes.
      "Do what thou will shall be the whole of the law" - Aleister Crowley

      "If you love me, obey my commandments" - Jesus Christ

      The Bible comes as a complete package. If we want to pluck verses out of context so make them mean what we want them to mean, if we want to ignore the passages that are inconvenient to our outlook, we should be intellectually honest enough to throw our Bibles in the trash and admit we are following Crowley and not Christ.

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