Anyone else use/mine Bitcoin?

[terry78]

So was this thing just a fad?

 

[SerialPeacemake]

So was this thing just a fad?

Not quite.

The technology behind bitcoin(the blockchain if you may) it is very solid(it's quite ingenious ,even) and probably be a lot more useful than than bitcoin itself.Everybody from Microsoft to Nasdaq(which just added a bitcoin tracker) are looking to incorporate it for further development.This thing can become quite revolutionary indeed , quite a technology to watch for

As for the bitcoin support infrastructure : it is a lot stronger than last year with hundreds of millions worth of VC money poured in .With the recognition of bitcoin and coming regulation from the authorities and it is actually getting more secure and easier to get into.Conversely, bitcoin purists are quite ambivalent(some even hostile) to this development.

Just be very wary of anyone touting bitcoin as a great investment.It is extremely volatile and heavily manipulated.In fact everyone who invested in bitcoin and are holding on to it from last year lost money.

As for mining bitcoin itself? Don't even bother.It is impossible to make money with the current difficulty,unless you had free or very cheap electricity.

 

[spideyboy_1111]

I literally don't compute any of this...

 

[Mike_D202]

I literally don't compute any of this...

Me either. I still say this is a scam.

 

[KevanG]

I get the idea behind it but unless you have the time and money required to get setup for the long term then you shouldn't bother. Even if you do then there's a good chance you'll lose money if things keep going. For what was considered the 'ultimate' in currency, it's been fluctuating pretty weirdly for a while.

 

[terry78]

It's like they're trying to get all science-fictiony with it and start using "credits" and what not, but it didn't pan out.

 

[chaseter]

1 Bitcoin now worth $622. Some industry people predict it will be worth $2000 by the end of the year.

http://www.telegraph.co.uk/finance/...oin-price-to-hit-2000-by-end-of-the-year.html

Lol

Who was right? Me.

 

[Teelie]

Bitcoin is a good theoretical future but obviously the existing reality of it is not worth it.

 

[Mike_D202]

http://news.yahoo.com/failed-bitcoin-exchange-chief-karpeles-arrested-japan-071333424--finance.html