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Basing my income on a virtual system that has once already been hacked is not sounding good.
Bitcoin is over 4.5 years old and never been hacked. If you understood Bitcoin you would easily see this is not possible. Every bitcoin user has the ledger. So millions of people have the same ledger and they all match, cant hack that! plus its open source code and a fully transparent system.
+ the currency fluctuates. So i might play and win 3 bit coins today that are worth $150 each, and decide to convert them tomorrow and they might be worth $120 each.
I don’t think that BitCoin has been hacked … but I don’t think that BitCoin is anonymous either.
IP addresses of transactions are all fully recorded, and I believe that American authorities have a full record of all BitCoin transactions and can relatively easily translate IP address to street addresses and names.
IF BitCoin continues be promoted as a way to circumvent laws for things like buying drugs and avoiding UIGEA then the US will eventually come down hard on BitCoin and all the illegal transactions.
Q. Is BitCoin a viable electronic currency?
A. Yes but only if it steps away from illegal activities as it’s main transaction source.@Lenny 254094 wrote:
+ the currency fluctuates. So i might play and win 3 bit coins today that are worth $150 each, and decide to convert them tomorrow and they might be worth $120 each.
yes Bitcoin for the moment, because its new, fluctuates but it keeps going up if you wait. It will reach $100K+ in 10-15 years (per Bitcoin)
@TheGooner 254095 wrote:
I don’t think that BitCoin has been hacked … but I don’t think that BitCoin is anonymous either.
IP addresses of transactions are all fully recorded, and I believe that American authorities have a full record of all BitCoin transactions and can relatively easily translate IP address to street addresses and names.
IF BitCoin continues be promoted as a way to circumvent laws for things like buying drugs and avoiding UIGEA then the US will eventually come down hard on BitCoin and all the illegal transactions.
Q. Is BitCoin a viable electronic currency?
A. Yes but only if it steps away from illegal activities as it’s main transaction source.FACT : only 3-4% of all Bitcoin transactions were done on silkroad.
FACT : 100s of billions of $USD is being used for illegal stuff like, drugs, guns, slaves, money laundering, terrorist financing EVERY DAY!
FACT: if you use the TOR network, and never use the same Bitcoin address twice you cant be tracked.
You maybe right about tracking – but that assumes a level of expertise that most users do not have.
If BitCOin is only useful for obscurity then it will never become a mainstream product.@TheGooner 254106 wrote:
You maybe right about tracking – but that assumes a level of expertise that most users do not have.
If BitCOin is only useful for obscurity then it will never become a mainstream product.Ya but right now its mostly done with credit cards. The NSA knows your every move if they so desire. So how is this any better???
People will be tracked with Bitcoin (if they use it the newbie way) until technologies(software) comes out to make it easy AND 0 private .
So seeing that Bitcoin at its worst is the same as the system in place now regarding traking, lets drop the tracking thing and talk about more important stuff like in 10-15 years Bitcoin will be worth $50-100K+ each. Do the math.
@TheGooner 254106 wrote:
You maybe right about tracking – but that assumes a level of expertise that most users do not have.
If BitCOin is only useful for obscurity then it will never become a mainstream product.People are pumping millions of USD in startups weekly, you actually believe Bitcoin wont be more user friendly in the future?
