Bitcoin has a lot of potential. Why aren't you using it?

[hazek]

Is making purchases using bitcoin cheaper than making a purchase with a credit card?

It is for many many items out of the more than 500.000 items you can buy from here: www.bitcoinstore.com (takes exclusively bitcoins)

I ordered something from them and got it as advertised, was beyond easy and simple to buy and cheaper than what I'd pay locally with fiat.

[mczerone]

Sounds interesting. What backs a bitcoin? If nothing then how is it different than fiat? How are more produced?

Nothing "backs" bitcoin except for it's usefulness in making instantaneous, free-of-charge, and potentially anonymous internet transactions.

It is different than a fiat currency because no central agency is mandating it - that's what "fiat" means.

There are a specific number that are possible to be "mined" (discovered by brute-force cryptographic searching) - but that number doesn't matter because it is a digital currency that is infinitely divisible. You can pay someone 0.000000001 bitcoin for a product if they become scarce enough relative to the goods that are being purchased.

[mczerone]

I tried.. I failed at setting up a wallet then trying to put something in it. Instructions at the time suggested I *go to* some financial institution to make a deposit to my bitcoin wallet. First.. I live 9 miles from the nearest traffic light - 15 to my credit union (one way) and whomever's site I was on was suggesting either wachovia or bank of America *gag* - which I don't even think exist in our little town.. Anyway
first.. having something on my computer exclusively is a little scary - things break.. I don't back up often enough.. basically - shit happens.
The other thing that just stopped me in my tracks is that I was using the Tor browser and the thing kept timing out on me.. refresh/relog repeat.. I finally tossed in the towel.. oh.. and not taking a paypal account for payment defeats any ease of use for me.
The need to actually go somewhere (which for sure will be recorded) and do an in person transaction was the breaking point for me.

From what I've heard, you can use Moneygram to purchase through a few vendors, and you don't have to provide ID with the name you put on the card - it's just used to verify the transaction.

And even if "they" record you buying bitcoins, you can transfer them to a second encrypted wallet and the bitcoins are no longer traceable to you.

[Steve-in-NY]

Does the bitcoin cost of an item fluctuate with the value of the currency? In other words, is the cost updated in real time like you would see on a precious metals website?

Yes.

[Steve-in-NY]

Is making purchases using bitcoin cheaper than making a purchase with a credit card? The credit card is certainly easier and accepted at more places. Perhaps an example of a transaction including the costs involved? What sorts of things can you buy with them? Are they priced in dollars first and then converted to bitcoin prices by the seller or is there a different bitcoin price? Thanks.

Usually bitcoin to dollar exchange thing. ... and its cheaper than using a credit card because there are no fees involved whatsoever.
A far as what can you buy? A LOT (see: https://en.bitcoin.it/wiki/Trade) but its not so much WHAT as much as FROM WHO right now as many places dont accept it, but it is gaining traction... in fact I believe I recall hearing about someone working on a bitcoin ATM recently...

[KCIndy]

From what I've heard, you can use Moneygram to purchase through a few vendors, and you don't have to provide ID with the name you put on the card - it's just used to verify the transaction.

And even if "they" record you buying bitcoins, you can transfer them to a second encrypted wallet and the bitcoins are no longer traceable to you.

The MoneyGram location I went to demanded ID, but maybe I just looked shifty to them!

But you're right, after you get them in a wallet online, you can always do a transfer or two and I would assume that would mask any trail, at least to a certain degree. Of course, the big question is this: If the Feds start documenting who is buying bitcoins at these walk-in locations, does that put the bitcoin purchaser on a "watch" list of some sort?

[ItsTime]

Armchair cryptographer analysis?

Whenever I hear statements like this, I think of all the things unqualified people make comments on. Like the average pro-war yokel supporting Fox News.

Yup. Never happened before. http://www.nbcnews.com/technology/te...heisted-122726

Hear about the $500,000 heist of online currency this month? Not only was the digital dough stolen, the theft was followed by a major hack at an exchange website that led to a precipitous drop in the currency's actual value.

[Nic]

It's not relevant for my lifestyle at the moment. When I can pay for my gas or go to the grocery store and pay in bit coin, then I'll look into it. Until then, I'll continue to invest in tangible assets.

[presence]

I need some new shocks for my truck... can I get them with bitcoins?

[oyarde]

I need some new shocks for my truck... can I get them with bitcoins?

I may be able to help , tell me what you need I can get you a quote. less shipping. I accept silver , or FRN's .