Saw some RT news about bitcoins, googled a bit about it.

Is it really international digital currency for e-net?

Hell, I can’t believe current rate 1BTC=$97.46 !

At that rate how would it fit into current highstreet trading?

I might buy one as souvenir.

What you think?

It’s always going to stay marginal, useful for laundering if you’re a drug dealer though

interesting summation here

http://www.straightdope.com/columns/read/3120/is-bitcoin-the-future-of-money

looks like the price can fluctuate wildly within a short space of time. Assuming you can buy/sell these when you want as easily as anything else, looks like there could be a lot of (real) money to be made (or lost!) Or is the catch that actually swapping them for hard currency isn’t that easy?

Governments will get it shut down by fair means or foul.
Partly it undermines fiat currencies which underpin the current system, partly it’s great for organised crime.

A friend of mine who works in the City got chatting to a guy at Glastonbury this year who claimed to be one of the guys who’s a main mover in the UK (and was featured in the FT Weekend Magazine in June).

My mate said he didn’t understand the first thing about currencies – and came across as a just a young guy who thought he could get rich quick by hyping this thing up…

At least one of the guys in the FT article was an ex-nightclub promotor. Anyone else remember the heady days of 1999/2000 and all the hype around e-comm/internet stocks and what happened?

Currencies only work if enough people accept them as a form of exchange and they need a level of legitimacy for that…

I think it’s here to stay, but it looks like the days of “making” BTC is over, unless you already have one of these:

Here’s a relatively new article on it.

My concern has always been that somebody will figure out a flaw in the system and cause the value of existing coins to drop. I know there are safeguards against this built in, but still, no system is perfect.

Also the money exchanges have shown time and time again that they are complete amateurs when it comes to data security. For example, unencrypted backup files left publicly accessible, peoples online wallets completely emptied due to weak passwords on server admin accounts etc. MtGox was originally a trading site for computer game gold (‘Magic The Gathering Online Exchange’).

Hell, I can’t believe current rate 1BTC=$97.46 !

At that rate how would it fit into current highstreet trading?

Coins can be divided up into smaller chunks, or have i misunderstood what you’re asking.

FuzzyWuzzy – Member
It’s always going to stay marginal, useful for laundering if you’re a drug dealer though

POSTED 6 MONTHS AGO # REPORT-POST
It’s rubbish for month laundering.

I wouldn’t touch it with a bargepole. It’s a pyramid scheme by any other name.

It was the next new big thing last year but the press has started getting excited about it since someone allegedly lost there’s on a Hard Drive.