BitCoins

[Horn]

I definitely am considering this as a possible avenue for a second business that deals with virtual currency.

Get yourself a press & sell pieces of 8 (Ag) for bit coins.

I'm into it!

[Shami-Amourae]

Watch this, starting at 7:20. Max Keiser posted this on his website.
http://www.youtube.com/watch?v=TwNfBgwbqng&t=7m20s

[SLV^GLD]

I was all about bitcoin until I realized the complexity of creation was some where around 5 years for 1 coin. I could convert FRN to bitcoins but I'll stick to Ag and Au instead. For those who got in early and could create bitcoins from processor cycles good on them!

[solid]

I think this could be a great idea, in theory...but me personally, I want no part of it. I really don't trust technology to do what's right, it's too easy to get corrupted. I'm sure a lot of that is just my lack of tech understanding, but too many times something just stops working and becomes useless, whether computer, cell phone, anything tech tends to go *poof* and just be gone.

Who's to say a virus won't come along and corrupt the whole system? Or an EMP whipes it all out?

Paper FRNS burn, tech crap can become worthless in an instant, gold and silver are honest and have been around for thousand's of years. I'll stick to the simple honest strength of the old ways here.

[SLV^GLD]

Why would you pay someone to convert what you already have into something that very few merchants are willing to accept or even know exists?

Easy answer.
I like coffee. Good, organic coffee runs about ~$16 FRN for a pound of roasted beans. If I can convert $16 FRN into a single bitcoin and then wait X amount of time for said bitcoin to reach the purchasing power of 2 lbs of organic roasted beans I have effectively doubled the purchasing power by converting the FRNs.

The coffee can be had for bitcoins. The bitcoins, by their very nature, will increase in purchasing power. What is the FRN doing in terms of purchasing power over time?

Now, as i stated earlier, I see more value in converting FRNs to Ag and Au than I do bitcoins but the concept is still quite valid as far as purchasing power over relatively short periods of time are concerned. Ag and Au just have a much wider market in terms of being acccepted or liquidated for purchases.

[SLV^GLD]

Who's to say a virus won't come along and corrupt the whole system?

A virus would be, for all practical intents and purposes, impossible to construct that could corrupt a distributed mathematical hash. You are correct to distrust that which you do not understand but you make it apparent that you very much do not understand the underlying technology.

[Horn]

Paper FRNS burn, tech crap can become worthless in an instant, gold and silver are honest and have been around for thousand's of years. I'll stick to the simple honest strength of the old ways here.

The tallystick had a built in security feature that Gold & Silver lack.

[Shami-Amourae]

Hopefully it'll turn into the new rage...

Do I win the Internet now?

[madfranks]

Do I win the Internet now?

Yep, you win. This thread will forever be a reminder to those here who had a chance to get in to BTC early and make a fortune but never did.

[TroyOz]

Do I win the Internet now?

Yep, you win. Have you held and added over the years?