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I know they are all the rage right now, but when Big Brother steps in the value is going to bottom out
Bitcoin Virtual Cash Gets Money-Laundering Rule - WSJ.com
US Begins Regulating BitCoin, Will Apply "Money Laundering" Rules To Virtual Transactions | Zero Hedge
whats the deal with coin mining, not sure what that is about.
i never understood this bitcoin and just dont want to get involved with it, usa just wants to regulated everything smh
regulations for your proctection IMO.
Well this is interesting I think this one excerpt from the first link explains how it applies to individuals and states the " rule " is for business and not individuals. It leads me to believe at this time that there should not be a big concern.
From 1st link above:
Creating clear-cut rules for virtual currencies is difficult. A FinCen official said that anti-money-laundering rules would apply depending on the "factors and circumstances" of each business. The rules don't apply to individuals who simply use virtual currencies to purchase real or virtual goods.
Very interesting Zab, nice to know you are up to date on pertinent news for the members!
I dont really understand the bit coin thing either., and havent seen it used to many places at all yet really online, in everyday life.
Wow, this is crazy train.Quote:
Originally Posted by Zab
Its like a new currency by which u can buy things, maybe in future they will be worth sth if the owner wont make them for himself in big amount
Sounds dangerous...if you have virtual money. Hackers are going to figure out how to get something for nothing....don't ever let your government go to virtual money...there should always be cold hard cash
I don't even quite get what it is..
backed by electricity instead of gold.... and yet it has increased in value from 0.22 cents to 80 dollars a unit in a little over 3 years... too fast too furious?
Have never messed with them at all. I have heard alot of people talk about them. Thanks for the info Zab.
No.1: The way its set up is similar to the human DNA chain. the bitcoin system uses whats called a block-chain.[there are so many'slots' it can take up to 3 days of super-computer hunting just to get one],hence the 'miners'. miners are paid 75 bitcoins,yea,75 lol just to locate a prospective client a longggg azz number to be used for his transactions.yesterday one bitcoin was $71.00. last time i used Mt.GOX they were 47.00.that was last year. hackers have got in the system,the last one netted the hackers only 12,000 bitcoins.but,those were not an individuals holdings.no one knows any one and its completely anonymous. you get this super long string of numbers and letters when you open an account,if you lose that number,your basically screwed.people that use it have that number copied and put in a safe place. the u.s. government naturally despises any one or any corporation that they cant control.but they might as well go piss in the wind. the last time i looked,there were over 20 million computers logged in to the super block.haha,let the gov. go screw with that. you can get in 'certain' plces on the web to get more detailed info on bitcoin. i have used it,with no problem,SO FAR lol. would i recommend it? not for the casual p-c user,and not for any amount more than 1 bicoin.you can buy them singly or a maximum of 50,000 per day.sshhtt, i dont know anyone gonna be buying 50k around here.at $71.00 apiece. if anyone just has to try it, i strongly recommend only purchasing 1.
what is this your talking about?
We want pokerstars back this is freagin ridiculous!
The fact that we wont see pokerstars agin for 5 to 7 years or ever makes me sick!
BitCoins can easly get hacked and safe of them is minimally
yea just another thing the usa wants to control
it is gold?
Good article here. Read if you want the facts instead of the hype
Yes, you should care about Bitcoin, and here’s why — Tech News and Analysis