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Author Topic: Bitcoin Money  (Read 3883 times)

Aussie Mike

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Bitcoin Money
« on: March 06, 2014, 04:16:45 AM »

From my understanding, bitcoin has a lot of opposition from the traditionals but there is also a lot of support for it because people are looking for cheaper and easier alternatives so could bounce like a superball.

The major challenge is whether bitcoin can become stable and trustworthy.  Personally, I have never taken the risk with it and probably never will. I hear there are ATM's which solely deal with bitcoin.

Bitcoin is open to corruption and speculation so the officials will try to shut it down.  If however, the governments and banking systems can control it and receive their cuts, it could become a stable currency and benchmark for other currencies. (Hypothetically speaking).   After all, we do need a global dollar which is independent to all currencies.

Imagine a global dollar that is always worth $1 and all other currencies are valued against it.

Some background reading
Financial Review - What the hell is Bitcoin
Bitcoin.org - How it works
Wired.com - The promise of Bitcoin
Fast Company - Concerns about Bitcoin

« Last Edit: March 06, 2014, 04:32:13 AM by Aussie Mike »
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Aussie Mike

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Bitcoin Money
« Reply #1 on: April 16, 2014, 05:53:24 AM »

Here a news item for Bitcoin progress
Bitcoin goes retail with Westfield ATM
In spite of the value loss from $1100 to $400 and the tightening of regulations of cryptocurrency, Australians can buy and sell Bitcoin from their Bitcoin Wallets via ATM.
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Anhuiflowers

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Re: Bitcoin Money
« Reply #2 on: May 13, 2014, 06:43:44 AM »

In the end is the perfect way to launder money. No government oversight, can be moved at any time and no tax authority can check. Good for criminals mainly...
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MeiYouPengYou

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Re: Bitcoin Money
« Reply #3 on: May 26, 2014, 04:54:44 PM »

Is it polite to put BitCoin in a hongbao?
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