Bitcoin?

It's more than 700 dollars today, it was 400 dollars last week. And it was under 200 dollars two months away. Is it going mainstream? What is going to happen? Will crash intervene? Anyone on Sharenator owns any bitcoins ?

mt gox seven hundred dollars

acwgqmh - bitcoin?

  • Darius
  • November 18, 2013, 6:34 pm
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  • 2

    Bitcoin is kind of simple. This is cryptography currency, which means when you have some money, you have the crypto codes linking to that money. There are miners, which get paid for creating this p2p network, what they do actually they confirm, crypt and spread with others that someone made the transaction.

    Bitcoin itself doesn't have the value. There are limited amount of bitcoins out there (there are 11 million of bitcoins at this moment, and another 10 million will be paid to miners in another 10-15 years). So if people buy them, keep them, and there isn't enough for eveyone, price increases. Just like gold, if we would have unlimited supply of it, price would drop.

    We all use one thing, which is in unlimited supply and doesn't have actual real value, like bitcoin. It's american dollar. The only one difference is that there will be only 21 million of bitcoins in this lifetime, and american dollar will be printed again and again.

    • Darius
    • November 19, 2013, 4:19 am
    Bitcoin Just Passed Western Union in Transaction Volume


    And last day bitcoin reached 900 dollars, and crashed back under 700 dollars.
    - Darius November 19, 2013, 6:12 am
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  • 1

    I found out about this late and I'm still trying to catch up on all the bitcoin knowledge.

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  • 1

    I don't really understand it, nor do I know anyone who uses it. I am merely an engineer, I don't understand this computer mumbo jumbo! Somebody teach me something!

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  • 1

    i'm confused, never heard about it until this thread..what is it?

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  • 1

    Then it got to 900 then plumtted a couple hundred bucks stay away from these things

    Reply
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