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Unread postPosted: August 21st, 2014, 10:25 am 
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Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.

https://bitcoin.org/en/

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Unread postPosted: August 21st, 2014, 11:57 am 
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it sure looks interesting... and may be a whole lot cheaper than using Western Union....

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Unread postPosted: August 21st, 2014, 9:32 pm 
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Looks Like it will be very possible in a lot of circumstances, Omid.. tho I think we will always have to have some form of cash money, not just virtual''''
' maybe in your lifetime, probably , NOT in mine'' :D

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Unread postPosted: August 22nd, 2014, 11:48 am 
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I am not sure the Bit Coin will take off as many would like it to. With so many hackers and cons out there, I don't think people will trust it either.

People don't trust banks much any more already, due to hidden fees and such.
They want something tangible that they can put their hands on. They already fear what they can't see and/or touch, due to the number of hacks and hackers in the past.

Many already don't trust the stock market or the banks at all for that matter, due to past experiences or trust issues due to insider trading and the like.

It's hard to see them having much trust in internet (imaginary) coin either considering the situations as they are, much less what they may be in the future for every time something is more secure, somebody else comes along a figures out a way of making it less secure.

Example:
Greenspan creates imaginary money (dividends) so people appear worth more money than they actually are. Lets them barrow against it. Then in a matter of time it inevitably collapses in on its self. All the while they (the FED) are printing more money as fast as they can, to try to cover up for it and all the excess expenditures they've created in the meantime that they can not account for. Most likely, same game, different name.

*
The crooked stock-market, goes array and people make a run on the crooked banks....then everybody gets hurt. How would the internet bit coins be void of those same mistakes and others or could they? It sounds to me like just another way to screw over the working class as usual.

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Unread postPosted: August 22nd, 2014, 2:06 pm 
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Hackers had not much success yet to hack into BitCoin protocol, All that they could do over the past few years has been hack 2-3 wallets, not the whole network.

For some reason I'm afraid on Banks and BitCoin the same:

Bank: My money in Bank could be blocked because of any kind of political reasons (e.g. a bank in Europa or US block because I'm Iranian, or a bank in Iran block it because I did something illegal) which cannot happen with BitCoin, you hold your own money, and you can send it freely from US to Iran without restriction and I can send back from Iran to every where and no politician can do anything about it.

BitCoin: I may lose my BitCoin money if a hacker gain access to my wallet or if I save my money in my computer I lose it if my computer crash. The risk is low if I save my money in an online wallet which use secure platform, the same way you trust PayPal to save your dollars.

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Unread postPosted: August 22nd, 2014, 3:19 pm 
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How well can a PayPal account be trusted from hackers and the like?
I have only used. @};-

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Unread postPosted: August 22nd, 2014, 3:51 pm 
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Lorelei wrote:
How well can a PayPal account be trusted from hackers and the like?

Exactly that's my point, I'm saying the risk is equal.
Take care what you are doing, you are safe, how many times have you heard the PayPal servers get hacked? The hacks only happen in user side if they don't take care what they are doing. The risk of BitCoin is the same too.

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Unread postPosted: August 22nd, 2014, 10:54 pm 


Bitcoin has been a round for some time now, I dabbled with it a while back and actually generated some of my own coin, 2 as I recall, took nearly 3 weeks mining but it worked and that was on a low powered laptop.

Do I trust it? No, is it real and can you buy things with it? Yes and yes.

Here is a very good example of how far bitcoin has come since it's inception in 2009. http://khon2.com/2014/05/20/man-buys-ka ... g-bitcoin/


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Unread postPosted: August 23rd, 2014, 10:23 pm 
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B-) it is a mirage for those that thirst .... ~o) no thanks....

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Unread postPosted: August 24th, 2014, 9:01 am 
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Maybe you are right Omid but I don't see myself using it. Maybe the next generation will have more faith in it.

If some recent predictions are correct and there is another bubble pop followed by a run on banks, the likes of which no man has ever seen before........... a countries monetary system, stocks, bonds, banks and cash money, ever does come to an abrupt halt/worthless, the only real, tangible thing they can put any trust in at all, is themselves and the barter/trade system.

If for some reason, power sources should go down, online money won't do people any good either, so I suggest people who are concerned with this should start getting used to the idea that it is quite possible that eventually, the barter/trade transaction system, will be the best or only alternative they have left.........for a time anyway.

It has never made any sense to me for so many people/countries to be so dependent on imaginary money, imaginary credit/dividends, or by printing more and more money they don't even have in the first place.

I don't think it is good to put all the eggs in the same basket.......(as they say) and even if our countries aren't able or willing to have a backup plan based on the barter/trade system then it is up to the individuals to do so even though it will be on a much smaller scale.......at first anyway.
@};-

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Unread postPosted: December 12th, 2016, 3:56 am 
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I think that there is nothing of the possible. But as long as I do not trust cryptocurrency.


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