BITCOINs
 

Hi,

Is anyone else following this? Its fascinating and after 2 months of research I am convinced its here to stay. Couple of interesting recent online articles to help explain to those who would like the whole BTC thing explained......


BBC Article
http://www.bbc.co.uk/news/business-25809011

Russian Article
This is interesting especially in light of the responses from readers of the article:
http://rt.com/usa/chase-ceo-bitcoin-...-downfall-100/

Australian Article
http://www.theage.com.au/business/di...124-31dt3.html

Yahoo Finance Article
http://finance.yahoo.com/blogs/talki...141729681.html

Any traders on the site using or accepting BTC?

Can't help thinking it's the digital age answer to pyramid selling but there is no tangible asset to exchange other than the perceived value of the 'currency' itself. Therefore nothing on which to base a value judgement.

No, I'm not following this Bitcoin saga!

There's another internet currency called 'Ripples' thats making a splash (no pun intended!) in the World Community Grid that I'm a member of.

Found this which seems to list all Cryptos but not Ripple

http://www.cryptocoincharts.info/v2/coins/info

Will be reading the following to understand Ripple's difference

https://ripple.com


http://en.wikipedia.org/wiki/Ripple_...editworthiness
http://letstalkbitcoin.com/the-rippl.../#.UuKX7tJFDMw

All makes for interesting times.
At least they cant falsely create additional units of currency in times of financial crisis, ie "Quantitative Easing" in order to keep the Wall Street Parties and Bonuses continuing at the expense of taxpayers through their Govts bailing out the merchant banks.

These new currencies are now gaining value in that they are being accepted as means of payments by both large and small retailers. Like Gold you cant create more than what exists, instead of printing cash on the basis of pretending there is more Gold there to the valve of new printed cash!

feel sorry for the poor bloke that threw his hard drive away with million on....

http://www.bbc.co.uk/news/uk-wales-s...wales-25134289

My dad has 2 Bitcoins, I pointed out he was wasting my inheritance and if he continued I would get him sectioned.

No different to the £ GBP and many other currencies then. The £ hasn't been based on gold standard for getting on for a century.

Or this guy :duh:

http://www.forbes.com/sites/ericmack...million-today/

Its his 2 BTCs he'll leave you to buy another 75 or ZT if your current one ever becomes uneconomic to repair !!!😂

Aren't national currencies backed up with things like "promise to pay the bearer" and government bonds like Gilts etc? Whereas bits are not?