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+--- Thread: btc as mean of pay do you use it ? (/showthread.php?tid=3163)
RE: btc as mean of pay do you use it ? - cmdline - 03-22-2017
medium is correct word,since wouldnt go as far as calling it currency given that by definition currency is smth that you earn invest,create growth and jobs,now we could argue it creates jobs etc but not in direct market,while im ok with that but due to lack of such features many seem it just as a tool in underground world,or get quick rich opportunity.
RE: btc as mean of pay do you use it ? - IceWizard - 03-22-2017
Chinese ... I saw a documentary on Fuse I think it was, but they highlighted this "company" that had a building with like 6 or 7 floors... All of them were HUGE comps working 24/7 on mining btc ... Then they said the company had 5 other buildings just like that one doing the same thing ... They had crews that all they did was to keep those machines operating at full capacity!
Must be some big money in it at that rate ...
Ice
RE: btc as mean of pay do you use it ? - Dentscllyfe - 03-22-2017
(03-21-2017, 09:09 AM)cmdline Wrote: hope this is right place to ask,but for years was against btc,not sure is it because basically string of code that reaps in value,or that it seems totally complicated.
Anyway recently decided to buy some btc,and was amazed how quick i managed to do it,literally 10 minutes from setting up to buying small amount as test.
personally think will use it eventually as means of pay since it bypasses so many nuisances and time waste.
Anwyay id imagine someone would of had simillar posts in the past but just curious if many here would use it,or what the opinion.
It took me forever to figure out the whole process of how btc works! Once I got the hang of it tho it became my preferred method of payment! I hate having to use mg or wu, and never like giving cc or debit info. I like how discreet it is and as long as you have a blockchain you don't ever have to use your actual btc wallet, and it stays protected. Ive seen it as the only option to pay at some places so always like to have some on hand. The fluctuation is awesome when you buy low and see your btc worth more!!, but it also goes both ways. Ive always like dappling in the stock market so its kind of fun for me as well as a payment option for things. Only problem is how unpredictable it can be at times. Hope all is well!
RE: btc as mean of pay do you use it ? - cmdline - 03-23-2017
like ICEWIZARD mention theres short documentary on vice youtbe channel about whole mining,once they setup asics-special solving cpus,its barely 1 person operation to replace broken ones,quite amazing setups thou worth a watch anyone interested in technology.behind it.
RE: btc as mean of pay do you use it ? - nickolyko - 03-24-2017
BTC is the future for all us here guys , and I have to say I don't like it and I have a lot of time to use it. But it is untraceable, and nobody can ask you those annoying MG or WU questions or even follow your transactions. That is especially true when we buy our magazines from IOPs or mail ventors. It is more safe and anonymous and one can exploit its lowest value to buy and wait until he sells Btc on high price . Of course you have to follow all this and spend time. And u must become proficient on safety issues when you use Btc . There are scammers and you can lost your Btc if someone can gain access to the delicate phase when you disengage them . BTc wallet is dangerous if you don't pay attention to security .You should be wary of any service designed to store your money online. It was not uncommon to lost your BTc. Exchanges and online wallets suffered from security breaches in the past. This is especially true for those in the dark net. Wallet should be encrypted and the best practice is to use a cold storage .It is an offline wallet. And it has a password you must never forget otherwise say good buy to your money forever. Make regular backups to your wallet. And much more . But if you want to stay anonymous it is the road you must take to get there .
RE: btc as mean of pay do you use it ? - Denman66 - 03-25-2017
Nickolyko and Dentscllife - do you also use a tumbler to clean btc before using it? I'm no btc expert but it's my understanding this would provide true anonymity (such as the blockchain mentioned).
Maybe this is a conversation best left to pm... but it does seem that btc is the new online cc.
Anyone remember Egold? It also fluctuated, according to the price of gold. At one time that was the preferred payment of many vendors and online services of all kinds. In the end it was shut down by multiple govs working together. I guess no one was collecting any sales tax with an online currency...
RE: btc as mean of pay do you use it ? - cmdline - 03-25-2017
well crypto of some sort is future,atm btc is having issues with forking miners vs developers situation on where to take btc future,its quite complicated since results could be that btc network could split,meaning two different currencies being used.its more complicated then that,but guess for regular use if one buys and uses it to transact as possible its not much difference,but in general theres obstacles atm in development about what future btc will take in coming years.
RE: btc as mean of pay do you use it ? - Ladybug - 03-25-2017
Oh, my gosh, my first knowledge of this was a few years back. I looked into it but it was so complicated, it didn't take long to put it aside. Can someone point me in the right direction on how to use it and in essence get educated on it. Different opinions on here from easy once you get the hang of it to too complicated and/or risky. Some saying this is the way of the future also makes me interested because I am afraid of the crackdowns ahead.
Than ks for your comments
RE: btc as mean of pay do you use it ? - Denman66 - 03-25-2017
Really the easiest place to learn about btc is YouTube. There are tons of videos on everything from start to finish.
RE: btc as mean of pay do you use it ? - cmdline - 03-25-2017
first you need wallet :https://bitcoin.org/en/choose-your-wallet
once you pick one follow instructions and once registered print out all passwords and pass pharases,since open source wallets dont hold btc on your computer but rather on the main network blockchain.
next you need place to buy them,usually exchanges are safest bet but will need to provide verification id etc,but possible to buy from other people on btc forums but need to be aware of scams swhere you pay cash or any other means and person dont send u anything.
smth like :https://www.kraken.com/ is good place to buy some.
Now you wouldnt be buying whole coin since the cost is close to a grand and flucuates daily,thus people buy usually whatever amount they need in usd.
once you got wallet setup and go buying coins you provide your wallets address which looks smth like this : 1FKKsqAQbz6kB4idaMxKyGR2q6cdXecoiD once thats done you wait for transaction to complete and exchange to send you btc which is usually 0.051234 if say your buying 50$ worth
once you have that in your wallet and see it confirmed then you need someones address like above once they provide that you send agreed amount which is usually in numbers like i provided 0.5232423 and also include fee.Fee is a bit tricky but mostly ranges between 2-4$ for under 100$ transactions,it basically determines how fast youll receive or someone else will the transaction.
at first might feel frustrating since you can use and generate multiple receiving addresses for privacy but they all link to your wallet.
i could go on for pages but thats as basic as i could get it,and if trying first time read up on wallets and exchanges wich are most popular and trusted,and when buying first time buy like 10$ worth before going bigger amounts to figure how it works and to use addresses correctly.rest is youtube and internet forums on btc but best to keep it simple at first and dont indulge into whole blockchain discussions.Since currently btc is a bit unstable due to possible fork which is another topic that could lead to 100 pages.hope its any help since first time ive looked into it seemed like total puzzle,but once actually created wallet and got btc took me less then hour to get the basics in place.