Bitcoins or the first decentralized digital currency? anyone is using it?
Hey
I just tumbled on this guardian article about
Hacktivists in the frontline battle for the internet
http://www.guardian.co.uk/technology...attle-internet
Inside I learn about a new wierd currency
http://www.weusecoins.com/
http://bitcoin.org/
Does anyone know if it is worth using it? It is open-source peer-to-peer software. You can mine bitcoins on your computer!??!?
78 pages long:
http://www.ronpaulforums.com/showthr...coin-obsession
Happy reading.
I compiled a "brief" history of events since October 2008 that are defining the global currency war and the role that gold is playing:
Tin Foil Hats, Economic Reality and the Total Perspective Vortex
Also, have you contacted your Congressional Rep and asked them co-sponsor Ron Paul's HR 1098: Free Competition in Currencies Act?
My unsolicited 2 cents worth, for those who don't want to wade through the longer thread:
I think bitcoins are an interesting possibility as an alternate currency, but at present there is one critical flaw. At present, to use bitcoins one must jump through a lot of hoops and/or be very tech savvy. If bitcoins are ever going to be accepted by a wider market, someone needs to work up a very simple user interface that lets non tech users (such as myself, for instance) use bitcoins simply and easily.
I'm not a big fan of PayPal, but I'll have to admit that it IS an easy system to use. Just plug in your name and bank account, add a credit card, and you're off and running. Using bitcoin is more complicated, and I think that's going to be a critical hurdle to mass acceptance.
There are many such methods already. You can for instance go to https://blockchain.info/wallet/ get yourself a wallet account for free and all you need to do next is go to https://www.bitinstant.com/ and use the "Cash Bank Deposit" to "Bitcoin to email", go to the bank, wire the money, receive the mail and add your Bitcoins to your wallet. This whole process should take you max 10min if you live near a bank.
Presto, you now own bitcoins.
Last edited by hazek; 04-20-2012 at 08:24 AM.
My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right, tend to be unwilling or unable to accept blame )
i'm shocked.... read some of the 70ish page thread.
that exchanges are indeed the weakest links.
more reason for Pirate Political parties to win more clout and visibility as described in the Guardian article linked above.
Originally Posted by hazek
Hazek, since you're a bitcoin user I'm going to rely on you for an expert answer on a couple of questions:
1) I've heard that online "wallets" aren't as secure as using an encrypted wallet on your own machine. How reliable have you found sites like BlockChain and FlexCoin to be? I ask because I have set up an online account/wallet at FlexCoin. I tried at BlockChain but something went wrong (my fault, but I'm still not sure what happened) and no account was formed. I've heard about problems with some people using online wallets/banks and losing their bitcoins.
2.) Do you know if there are any banks other than BOA that accept cash deposit for BitCoin exchange? Because I don't live anywhere near a Bank of America. I'm pretty much restricted to doing this online.
Well even if I was an expert please do not rely solely on my answers, but check and recheck with other people to make sure I gave you accurate info.
Depends how the online wallet is coded. If it's coded so that only you with your password can possibly have access to the private keys then it's secure as long as you protect your password. I believe that is the case with most never online wallets (blockchain, easywallet, instawallet, ect. ) but I'm not sure about Flexcoin.
I think this depends on which exchange you're trying to deposit your money with but I do not believe any are limited to just one bank. I good page for reference what methods are available where is this page: https://en.bitcoin.it/wiki/Buying_bitcoins
My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right, tend to be unwilling or unable to accept blame )
Hazek, + Rep and thanks for the info! And yeah, I always double and triple check things before I act, but I appreciate your honesty and the disclaimer.
Most of all, I appreciate any and all information, and the info you provided helps, it really does.
For all you bitcoin pros out there, here's my problem:
As a non-tech newbie at this, the frustrating choke point for bitcoin (for me) is the actual process of doing anything. I already understand the theory behind the idea. I understand what an alternate currency is. I understand the advantages of an alternate currency that is relatively anonymous. What I've had a hard time finding is a simple, step-by-step, 1-2-3 "user manual" for the process.
What is most aggravating of all is clicking on a link that says, "Find out how to use Bitcoins!" and get an "answer" that goes something like: "Bitcoins are a decentralized currency! Just create a bitWallet, deposit some money, and start using bitcoins right away!"
Well, duh. But HOW??
To me, that's like someone who knows absolutely nothing about cars being told, "just get in and drive! It's easy!" It might help to explain about the key, the ignition, the steering wheel, the accelerator and brake, the engine, the need for gas and oil, and so on....
If there is anyone out there who is extremely tech savvy, knows the bitcoin process well, and can still write in simple and understandable terms, I would urge you to write a Bitcoin User Manual, something along the lines of "Bitcoins for Idiots." If bitcoin supporters really want to bring this into the mainstream, that's what it's going to take.
Just message me - I'll provide all the "dumb questions." Really I will!
A real problem with bitcoins is that the whole system depends upon a free and functioning internet.
I compiled a "brief" history of events since October 2008 that are defining the global currency war and the role that gold is playing:
Tin Foil Hats, Economic Reality and the Total Perspective Vortex
Also, have you contacted your Congressional Rep and asked them co-sponsor Ron Paul's HR 1098: Free Competition in Currencies Act?
LOL! I hate to break it to you, friend, but in today's world that applies to every form of currency except hard cash. And even cash is restricted at ATMs and other chokepoints when the internet goes down. Credit cards, e-check, debit and all the rest are also dependent on a free and functioning internet.
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