Bitcoin becomes "bank"

[ZenOps]

http://www.bbc.co.uk/news/technology-20641465

"Bitcoin-Central got the go-ahead thanks to a deal with French financial firms Aqoba and Credit Mutuel.

The exchange is one of many that swaps bitcoins, computer generated cash, for real world currencies."

I should have left a couple computers on generating money at the start. They are now worth about $13 for each bitcoin.

[sputnik]

Anyone want to start a Beyond Bitcoin mining pool?

[Type_S1]

I fail at google today and am lazy...

But what the hell are bitcoins, how do you get them and what is mining? haha

[jacky4566]

Your title is misleading, the bank is accepting bitcoins. Bitcoins are a non-central currency you can move anywhere and spend anywhere without fees or other bank crap.

You can get bitcoins at brokers like VirtexCAD https://www.cavirtex.com/home

And you can get new bitcoins by mining them. Effectively you are verifying transactions for security and are rewarded with new coins. the rate of generation is set so inflations cannot occur.

PM if your interested.

[effingidiot]

Originally posted by Type_S1
I fail at google today and am lazy...

But what the hell are bitcoins, how do you get them and what is mining? haha

You may use bitcoins to buy drugs, weapons with filed off serial numbers as well as pay for hitman services on silkroad and other stores on tor network. Duh

[ZenOps]

I take it to mean that two french banks now accept them as "normal" currencies. If you converted to Euros, you can then change to whatever you want.

It pretty much means bitcoins are money now.

[jacky4566]

They have been money for a while. Here is a list of all the markets.

BTW VirtexCAD is the biggest Canadian one.
http://bitcoincharts.com/markets/

And a small list of places that accept them: (including wordpress, the biggest name so far)
https://www.spendbitcoins.com/places/

But yes you can also buy illegal things on Silkroad @ TOR

[BigMass]

Bitcoin reminds me of Esperanto. A bunch of nerds coming up with shit nobody is going to end up using. More of a curiosity. BTW, Bitcoins aren’t money, they’re a currency.

[JDMsomething]

Originally posted by BigMass
Bitcoin reminds me of Esperanto. A bunch of nerds coming up with shit nobody is going to end up using. More of a curiosity. BTW, Bitcoins aren�t money, they�re a currency.

So is every other countries paper currency in circulation....whats the difference? One is digital, another is useless paper?

[BigMass]

Originally posted by JDMsomething


So is every other countries paper currency in circulation....whats the difference? One is digital, another is useless paper?

There is no difference. That’s the problem. It’s like people trying to convince others how great Esperanto is. We already have it, it’s called the English language. Most people in non-english speaking countries learn English because it has become the international language most commonly used. They don’t learn Esperanto because nobody uses it. Just like bitcoins. It will never take off because we already have currency and credit cards etc. It’s just not needed by the majority of people that have no use for some anonymous currency system used to solicit illegal online transactions. A currency is only as useful as the number of people willing to accept it. If what you want is money that is a store of value buy gold and silver. Plus the people pushing Bitcons is almost like a cult. Freaks me out

[Mibz]

Originally posted by BigMass
It’s just not needed by the majority of people that have no use for some anonymous currency system used to solicit illegal online transactions. A currency is only as useful as the number of people willing to accept it. If what you want is money that is a store of value buy gold and silver. Plus the people pushing Bitcons is almost like a cult. Freaks me out

This completely sums it up, haha.

Need to buy drugs or children online? Use BTC.
Don't pay your own power bill and too lazy to get a job? Mine BTC.
Like BTC? MAKE SURE EVERYBODY KNOWS HOW AMAZING IT IS AND HOW YOU'RE EMPTYING YOUR BANK ACCOUNT AND PUTTING IT IN BTC BECAUSE IT'S FLAWLESS.

[4DoorGTZ]

Been mining BTC for a year now and have been cashing out in to Precious metals along the way.... lots of ways for you to loose your wallet balance, lots of ways for your wallet balance to devalue itself with nothing you can do.

So Everytime I've got enough i purchase a 10oz silver bar for BTC, have both an online source and a local seller. Local seller has been flaky lately so I've been paying more online but am still constantly cashing out. I wont be sad if they get abolished/outlawed/devalued but i'll cry a bit if they go to new highs ($31+)

[Modelexis]

I bought some coins when it was just starting to grow, didn't do it as an investment or to store wealth or to buy drugs, it was just to take a gamble and see what comes of them.
It's more interesting to follow the progress of Bitcoin when you have a small stake in the game. I hope it succeeds but no one really knows what will happen.

Bitcoins are anarchy and so naturally I am intrigued.