Nice forum. I am actually looking for some help understanding BitCoins. If anyone has any advice or suggested reading for a novice such as myself it would be greatly appreciated! Where do you buy them? Where do you keep them? How much is a BitCoin worth? Are they safe to buy/use? I would love to have a better understanding of the whole BitCoin scene so I can share my new found understanding with my friends Edited, considered spam. I get asked questions about BitCoins all the time and have to tell them I don't understand how they work enough to answer. Help? Thanks in advance!
I don't care for the idea myself, virtual "money" is not secure and I don't care who says it is, numbers on a computer screen is nothing but that.....
In a way, we already have a system of virtual money. I get my paycheck direct deposited. I use my debit card for many transactions. I pay most of my bills via electronic banking. When traveling, I use my CC for most of my expenses and I pay it via electronic banking. I also receive my reimbursement via direct deposit.
Yes but all of that is different. I can see and then withdraw the money from that direct deposited paycheck and I can hold that credit card and that money is backed by the bank which in turn, is backed by the government. Bitcoin is not backed by any government or country and is "digital money". And unlike that credit card or money you withdraw from your bank account, you cannot use it everywhere, only where Bitcoins are accepted.... which is not many places.
I agree with you Charlie. I know enough about Bitcoin to be dangerous, as the saying goes. I follow it, but stay away from it. Too much risk.
