Bitcoin

rottie 11

Duno where to post this so il chance it here. What's the story with bitcoin? I downloaded the app but I didn't even have to make an account ??

I need to buy something online and that's the only payment option , is it safe and how do I use it ?

refusetolose

http://lmgtfy.com/?q=how+to+use+bitcoin

biko

https://www.youtube.com/watch?v=s4g1XFU8Gto

bogmanfan

rottie 11 wrote: »

I need to buy something online and that's the only payment option , is it safe and how do I use it ?

Well your name is now on some kind of list!

tomwaterford

bogmanfan wrote: »

Well your name is now on some kind of list!

Santa's???

Kat1170

tomwaterford wrote: »

Santa's???

You wish, Satan's :cool::cool:

scamalert

Totally worth it

alb

rottie 11 wrote: »

Duno where to post this so il chance it here. What's the story with bitcoin? I downloaded the app but I didn't even have to make an account ??

Bitcoin is not an app, or a company. It's a new protocol layer on the internet, like http or email, except it's for value transfer not data communication. It's an open system making it permissionless meaning you can install a wallet app and receive bitcoin without registering an account anywhere.

rottie 11 wrote: »

I need to buy something online and that's the only payment option , is it safe and how do I use it ?

You can obtain bitcoin the same way you obtain other currencies, either sell goods or services for it or buy it with euros at a currency exchange - localbitcoins.com or circle.com are good options for buying it.

As for the safety, if you choose to use a wallet on your PC or phone it's more like cash or gold than a digital bank account - you are solely responsible for it, if your wallet gets hacked you're out of luck the same as if you drop cash on the street.

If you keep your bitcoins in an online wallet like circle.com or blockchain.info, use 2 factor auth so that your password and a code from your phone is needed and you'll probably be grand.

kneemos

So.Drug dealers and currency traders.
Should catch on.

B.A._Baracus

I've been somewhat following BitCoin for a couple of years now. Read into how to datamine them, etc, but never was arsed to do so.
But doesn't it sound a bit stange that some random anonymous Japanese person came up with it?

That "this person" chose not to come forward and say 'hey, i created bitcoin!' doesn't raise alarm bells? That knowing how BitCoin has become so successful no one has come forward?

It makes you think.

hatrickpatrick

rottie 11 wrote: »

Duno where to post this so il chance it here. What's the story with bitcoin? I downloaded the app but I didn't even have to make an account ??

I need to buy something online and that's the only payment option , is it safe and how do I use it ?

Of course you don't need an account. Do you need an account to have money in your pocket?

Sounds like you really don't understand how bitcoin works, I'm not even going to attempt to type up a decent explanation here whilst drunk at 5:30AM, but do some Googling and some quick reading. You'll soon get the hang of it.

Also I really wouldn't advise downloading and running the full Bitcoin app - this will download the entire history of all Bitcoin transactions ever made, which surely must be into the tens of gigabytes by now. Sign up for a virtual wallet at an online bitcoin exchange instead.

gctest50

hatrickpatrick wrote: »

...... surely must be into the tens of gigabytes by now........

50gigs soon

https://blockchain.info/charts/blocks-size

VinLieger

If the only payment option is bitcoin im really interested to know what your buying

matchthis

VinLieger wrote: »

If the only payment option is bitcoin im really interested to know what your buying

Some people just feel embarrassed to buy jonnies in a shop. At least he's bein safe! Go on rottie get some tottie

Calibos

VinLieger wrote: »

If the only payment option is bitcoin im really interested to know what your buying

Prescription only generics from India I'd wager

alb

B.A._Baracus wrote: »

I've been somewhat following BitCoin for a couple of years now. Read into how to datamine them, etc, but never was arsed to do so.
But doesn't it sound a bit stange that some random anonymous Japanese person came up with it?

That "this person" chose not to come forward and say 'hey, i created bitcoin!' doesn't raise alarm bells? That knowing how BitCoin has become so successful no one has come forward?

It makes you think.

Firstly, he almost certainly wasn't Japanese, Satoshi Nakamoto is a pseudonym.

It wasn't really randomly invented either. The Cypherpunk manifesto going back to 1993 mentions crypto currency;

We the Cypherpunks are dedicated to building anonymous systems. We are defending our privacy with cryptography, with anonymous mail forwarding systems, with digital signatures, and with electronic money.

There were many attempts before Bitcoin by some people that are known, and Bitcoin was built by combining parts of some of them.

The choice to remain anonymous was a really good one in my opinion. It stops him being branded a financial terrorist by authorities and being pestered by the media. I think it also helps contribute to the fact that Bitcoin is an idea and an invention not something owned or controlled by one person.

Having said that I'd love to know who it is

bnt

alb wrote: »

The choice to remain anonymous was a really good one in my opinion. It stops him being branded a financial terrorist by authorities and being pestered by the media. I think it also helps contribute to the fact that Bitcoin is an idea and an invention not something owned or controlled by one person.

Having said that I'd love to know who it is

Well, that anonymity may just have ended. Australian police have raided a Sydney home, and there's strong evidence that the owner, Dr. Craig Wright, is the co-creator of Bitcoin, along with an American programmer who died in 2013. The BBC report links to articles in Wired and Gizmodo that have a lot more detail.

alb

It seems Dr. Wright has been editing his blog and other historic things to appear as though he was Satoshi, but people are finding a lot of holes in the theory of the Wired article. I haven't looked into it much personally, but the kind of background this guy has (or at least claims he has) is the type of background you'd expect Satoshi to have.

As an aside, funny that the Aussie police coincidentally raided his home today but say it was about "unrelated matters".

1shot16

Bitcoins can be accepted in a couple of shops around the world but i dont see how using bitcoins over cash would be more useful.Unless your buying stuff off the dark web.

MadsL

I still find it incredibly weird that there is a Bitcoin machine (atm) in a small Barber supply and barber shop local to me (Albuquerque, NM). No idea why.

alb

MadsL wrote: »

I still find it incredibly weird that there is a Bitcoin machine (atm) in a small Barber supply and barber shop local to me (Albuquerque, NM). No idea why.

Bitcoin ATM in an obscure place is usually because the owner, or a someone they know, is an enthusiast and/or a libertarian and wants to support the project for personal reasons.

scamalert

Dont know any reason why anyone would think btc are to exist.

As many times said it was great idea when they started and price to mine them was sort of no brainer since anyone could participate.but that was major flaw when they picked up in price-thus people buying expensive gear just to solve math equations to profit more from them,and difficulty increasing to levels that only major miners that can pay almost nothing for electricity to still profit.

Then we are at a point where no single person can mine them except few major or stupid pools dedicating whole equipment to participate in scheme that creates virtually nothing-since btc alone dont hold value,it cant even be compared to currency.

As the way it set up,dont know how stupid it has to be to imagine people using them in future where one would need to calculate 0.000000000123 to pay for something,then theres risks of it being online and stored on servers exchanges ,which given some trouble can vanish into thin air,not to mention set up of anonymity which is total joke-one would have more protection and some peace of mind using pre paid cc then trying to set up btc valet and purchase some-still would go trough banks to do it.

since real money work by someone doing something that works out into service/business thus in that it generates economical growth.

where btc is made out of nothing it doesnt generate any value-monopoly money at best and this circle where x person is willing to accept it at x price,but given that chain is anonymous and there are still majority who hold substantial amounts for it to live someone who has some btc they have to convince other person to buy it/accept it for agreed price.

Then add insane fluctuations where it moves in percentages 10-100% in matter of days and im out :cool:

at least paper cash can be exchanged in any country and you wont loose half its value to some stupid event online,and $ is still $ in Africa,and you dont need 30-40mins to make transaction.

Only way btc is still alive is because markets such as agora or SR see it safest means to do business,take that out of account and you'd have circle of people not knowing wtf to do with it.

zulutango

Myself and friends are using btc quite a lot lately. We always are owing each other cash for some reason or other. Nowadays instead of repaying cash, we repay each other in btc.