What is bitcoin guys?

[Claraviolet]

I need some brief information about bitcoin.
It's a cryptocurency. Not real...but why is it so popular?
@Sindar I bet you can give me quality information sindar chan.
Other kids too...would you mind telling me what it is bitcoin and why is it so popular?

 

[Sindar]

Why would you think I know anything about this thing? =) I'm not an IT geek From what I heard in the news it is popular among drug dealers and other kinds of criminals who do their business online, cause there are less regulations with this type of pseudo money.

 

[MadaraUchiha]

Why would you think I know anything about this thing? =) I'm not an IT geek From what I heard in the news it is popular among drug dealers and other kinds of criminals who do their business online, cause there are less regulations with this type of pseudo money.

Well, that's great.........

 

[Claraviolet]

Why would you think I know anything about this thing? =) I'm not an IT geek From what I heard in the news it is popular among drug dealers and other kinds of criminals who do their business online, cause there are less regulations with this type of pseudo money.

What? O.O
Because, it's a form of crypto-currecny and in current latest trends, some malware is destroying some stuff related to bitcoin and my professor asked us, to give a seminar about latest trends (_ _)
I didn't know, it's used in that dark world
As you know pretty much everything, I asked for your help >.>

 

[Sindar]

Why would you think I know anything about this thing? =) I'm not an IT geek From what I heard in the news it is popular among drug dealers and other kinds of criminals who do their business online, cause there are less regulations with this type of pseudo money.

What? O.O
Because, it's a form of crypto-currecny and in current latest trends, some malware is destroying some stuff related to bitcoin and my professor asked us, to give a seminar about latest trends (_ _)
I didn't know, it's used in that dark world
As you know pretty much everything, I asked for your help >.>

I kinda wonder what else could this type of money be used for =) For legal transactions you can use your regular government-issued currency, it seems to work just fine.

 

[Star_Of_Hope]

I kinda wonder what else could this type of money be used for =) For legal transactions you can use your regular government-issued currency, it seems to work just fine.

I don't know much about IT stuff, but does this involve tax and other stuff like usual money?
Also, how do you earn this money, sindar?

 

[Jason]

I think bitcoins are like poker chips with which you can buy stuffs.. not sure though.

 

[Sindar]

I kinda wonder what else could this type of money be used for =) For legal transactions you can use your regular government-issued currency, it seems to work just fine.

I don't know much about IT stuff, but does this involve tax and other stuff like usual money?
Also, how do you earn this money, sindar?

 

[Shole]

It's probably popular because you can buy illegal things with it like drugs, weapons and even humans.
But also because it is not influenced by the global economy.

 

[Star_Of_Hope]

It is popular as far as I know and it is difficult to imagine only illegal transactions with that kind of popularity. Legalize it in the U.S. Then for now, it is still illegal? How can that be? I tried google but there is so much information and it is difficult to separate useful information from useless information

Anyway, thank you Sindar

It's probably popular because you can buy illegal things with it like drugs, weapons and even humans.
But also because it is not influenced by the global economy.

Buying humans? That's totally inhuman!
How come it is not influenced by global economy? Even stock market is influenced by global economy.

 

[Claraviolet]

I kinda wonder what else could this type of money be used for =) For legal transactions you can use your regular government-issued currency, it seems to work just fine.

So, how do we get this stuff?
Not by using real currency...right? hgod:

 

[Sindar]

I kinda wonder what else could this type of money be used for =) For legal transactions you can use your regular government-issued currency, it seems to work just fine.

So, how do we get this stuff?
Not by using real currency...right? hgod:

How else? It's a currency, so there is an exchange rate or something. It used to be very volatile too. Here is some info on that.

It is popular as far as I know and it is difficult to imagine only illegal transactions with that kind of popularity. Legalize it in the U.S. Then for now, it is still illegal? How can that be? I tried google but there is so much information and it is difficult to separate useful information from useless information

Anyway, thank you Sindar

Well they have to work out laws and regulation that will govern issue and use of this kind of money, that is what I meant =) Bitcoins are actually illegal here in Russia though. US and Europe seems to be much more open minded about it, but I doubt they will just let bitcoins be. I don't know too much about economy, but existence of such source of liquidity that isn't controlled by the government seems a bit out of picture.

 

[Claraviolet]

How else? It's a currency, so there is an exchange rate or something. It used to be very volatile too. Here is some info on that.

I am going crazy now :lost:
We spend the real currency to get some virtual currency....how pathetic is that?
I didn;t know this stuff....I am going to drop this stuff. I don't wanna give a seminar on some illegal stuff (_ _)
Now, this is the reason why I aked "you" to give me some information regarding bitcoins.
You are the walkining encyclopedia of our OPF, sindar

 

[Burnsy]

It's a new technology in it's infancy and while it won't replace regular money anytime soon, such technologies could evolve into something really cool and blockchain technology is here to stay whether crypto currencies become popular or not.

 

[Claraviolet]

It's a new technology in it's infancy and while it won't replace regular money anytime soon, such technologies could evolve into something really cool and blockchain technology is here to stay whether crypto currencies become popular or not.

I see.
Thank you for the information kiddo. That's pretty detailed

 

[Risk]

I think burnsey explained it pretty well but saying its used entirely for illegal activities is wrong, sure you can use it for that stuff but so can regular currency. Also like he said it is a very real currency there are even physical stores locations that accept bitcoin.

 

[Silver_Fox]

To be honest i don't trust this thing, i only trust gold and silver

 

[Blackangel]

i don't think i have noticed any store accepting it.
i will have to pay more attention to it.

 

[Risk]

i don't think i have noticed any store accepting it.
i will have to pay more attention to it.

Very uncommon but there are stores out there which do.

 

[Blackangel]

Very uncommon but there are stores out there which do.

i will look for them when i go out
i won't use them but i always thought bicoins can be mined and people can be very rich