Bitcoins

by tsubasa

tsubasa
lewd
Music
Posts: 44
Threads: 1
Joined: Sep 2015
Reputation: 0
09-27-2015, 09:03 AM
#20146 (1)
I'd like to talk about Bitcoins. For those who don't know:


Quote:Bitcoin is an innovative payment network and a new kind of money. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network.


I've heard much about Bitcoins in the internet and even in some newspapers but as of today I have never really used it or took effort to get some Bitcoins to play around. In my opinion it's very time consuming to get into the topic (I'm not talking about mining ... just using them).

I'm currently trying to exchange a bit of real money to Bitcoins via Localbitcoins to pay my seedboxes and servers with. If the experiment goes well, I probably will continue using it. I'd like to be a bit less dependend on my prepaid credit card and paypal account (I feel being very monitored lately...) and I think Bitcoin could be the right thing here. So far I have no positive and no negative experience with it, but this will change soon™.

Have you ever done something with Bitcoins? What is your experience with it? Are you using Bitcoins regularly? Do you have some important tips for Bitcoin newbies?

PS: My first thread.... I'm quite excited! :3 English isn't my native language. Please forgive me casual errors.
Em.
Verified Shitlord
Music
Posts: 216
Threads: 3
Joined: Sep 2015
Reputation: 4
09-27-2015, 09:07 AM
#20148 (2)
It's good but inconvienient, I have some bitcoin on some account somewhere, forgot my details to login and shit. It won't skyrocket in price anytime soon though, until there's no left to mine at least, it's hopefully gonna be stable for a long while.
Sai
PaintTool SAI
Megane
Posts: 98
Threads: 6
Joined: Aug 2015
Reputation: 7
09-27-2015, 09:22 AM
#20149 (3)
I use Bitcoin for nearly everything that I buy online.
I have bought everything from hundreds of dollars worth of clothing to servers to even a can of pringles.
It has also been helpful for receiving payments for random online jobs, and vice versa.

I love Bitcoin. I use it whenever I can.
[+] 1 user loves Sai's post
Eight
Junior Member
Kohai
Posts: 29
Threads: 2
Joined: Sep 2015
Reputation: 0
09-27-2015, 09:51 AM
#20150 (4)
Too late for bitcoins unfortunately, wish I got into them when I first heard.
[+] 1 user loves Eight's post
BanterGod
Fucked in the ass or die trying
Kohai
Posts: 37
Threads: 2
Joined: Sep 2015
Reputation: 2
09-27-2015, 10:41 AM
#20156 (5)
(09-27-2015, 09:51 AM)Eight Wrote: Too late for bitcoins unfortunately, wish I got into them when I first heard.

Yep, can't think of the past now. I remember during the silk road crash it reached $33 per bitcoin. I was just there to watch since I couldn't purchase bitcoin in the country I was in at the time.
Lokorfi
Waifu
Posts: 2,666
Threads: 30
Joined: Feb 2015
Reputation: 32
09-27-2015, 09:28 PM
#20282 (6)
Had a friend whose IT Teacher used school computers to connect to some bitcoin mine server. Interesting choice of staff.

Melancholy
すけべ
Admin
Posts: 3,868
Threads: 213
Joined: Jul 2014
Reputation: 60
09-27-2015, 10:37 PM
#20309 (7)
I wish I'd invested in BTC earlier on. Now bitcoins are pretty hard to obtain without losing money in the process.

tsubasa
lewd
Music
Posts: 44
Threads: 1
Joined: Sep 2015
Reputation: 0
09-28-2015, 02:13 PM (This post was last modified: 09-28-2015, 02:14 PM by tsubasa.)
#20435 (8)
My first bitcoin trade is done. Payed two of my seedboxes with the "money". Kinda interesting. I think the fee and loss with bitcoin is actually smaller than the fee I would have if I pay the seedboxes via Paypal & prepaid credit card. I'm also able to get bitcoins within one day, which is kinda cool. For prepaid credit card, I usually have to wait about three business days for a transaction between my bank account and my card.

So far my experience is very positive. :)
tn5421
Sharing: For a better tomorrow
Torrents
Posts: 1,370
Threads: 36
Joined: May 2015
Reputation: 10
09-28-2015, 03:45 PM
#20477 (9)
I'm not a big fan, though of course that is mostly because I didn't get in early and get rich.

my sc2 replays&info | my osu stuff | my steam | my HB
Do you like to read or write fanfiction?  Then please check out my usergroup.
COUPLED WITH U
MAYBE WE COULD
WWWWWWWW
Posts: 463
Threads: 39
Joined: Jan 2015
Reputation: 8
09-28-2015, 05:16 PM
#20485 (10)
Bitcoin had its time, there's a bleak future for it. I forecast its growth to be nonexistent in the coming years unless something spectacular happens. Converted all my bitcoin at the right time, and never getting into it again

:broken_heart:
vrexaz
Junior Member
Kohai
Posts: 6
Threads: 0
Joined: Sep 2015
Reputation: 0
10-02-2015, 01:34 AM
#20942 (11)
I wish I would have got into bitcoin when I first heard of it, I could be rich today.

I've never got around using them really, I have a wallet but no bitcoin in it

The concept itself is great and nearly revolutionary yet I guess bitcoins prime time, the hype, is over.
In the end it will stay as a currency for tech savy people, libertarians, crypto anarchists etc.
If you think that the average person is interested in it or will own some one day you are horrible wrong.
Sai
PaintTool SAI
Megane
Posts: 98
Threads: 6
Joined: Aug 2015
Reputation: 7
10-02-2015, 08:06 AM
#20958 (12)
>>20309
> I wish I'd invested in BTC earlier on. Now bitcoins are pretty hard to obtain without
> losing money in the process.

The fees that come with buying BTC are ridiculous.
Though, I've never actually had to buy them with my real money. I just earned it from jobs that people hired me for.

>>20485
> Bitcoin had its time, there's a bleak future for it. I forecast its growth to be
> nonexistent in the coming years unless something spectacular happens. Converted
> all my bitcoin at the right time, and never getting into it again

I disagree. Bitcoin is still very much used in the 'underground' of the Internet. I believe that Bitcoin will continue to be used for as long as there is an 'underground' for shady activity,
[+] 1 user loves Sai's post
Melancholy
すけべ
Admin
Posts: 3,868
Threads: 213
Joined: Jul 2014
Reputation: 60
10-02-2015, 08:33 AM (This post was last modified: 10-02-2015, 08:34 AM by Melancholy.)
#20963 (13)
>>20958
I read a nice thread  on cryptoworld about how unstable BTC is.

It mainly pointed out how downloading the entire block chain is pretty shit, considering it's already like 20GB; the fact that the crypto behind it will eventually be easily bruteforced and that it wasn't made to be a lasting currency.

Yuu
ℳℴℯ❤ ( ´・‿-) ~ ♥
lainchan
Posts: 371
Threads: 8
Joined: Aug 2014
Reputation: 9
10-02-2015, 11:55 AM (This post was last modified: 10-02-2015, 11:58 AM by Yuu.)
#20973 (14)
>>20146 (OP)
Bitcoins are pretty great, I use them all the time. Mainly to pay for my domains and to accept donations. I can't say that bitcoins are anonymized by default, you need extra precatiouns for that. But it's great for privacy, I'd hate to give out my paypal to accept donations for my projects. It would make my real world identity exposed. But I keep most of my funds in euro or dollars. And convert when I need to make a payment, as you never know whether bitcoins rise or fall. It's a tricky currency.

>>20485
I concur, bitcoins and crypto currencies in general has been the main currency for drug trade, the illegal underground and darknet ever since the rise of Silkroad and the start of the darknet market era. It's continuesly used by both legitimate and illegimate users, but it's still being used. I don't see it's downfall within the nearest future. And even if it did, chances are cryptocurrencies in general will continue to rise and be used by various people. Bitcoins are very popular in strict regimes, such as China. Because it bring economic benefit and more freedom with a currency that is not controlled by a government. I even heard that countries with extreme economic inflation has been considering adapting cryptocurrencies as their main currency. If I remember it correctly, Zimbabwe is planning to introduce a new currency called Africacoins in cooperation with other countries. The new currency in nature is a cryptocurrency as a meassure against the high economic inflation.

I probably need to cite my sources, I will look this up later. But I highly doubt that bitcoins will die soon. Although USG can probably do high impact attacks on bitcoins if they sell everything they have on the same time. They captured a lot of assets when taking down silkroads and many other markets in various operations.

Edit: Disregard what I said, after looking that up. I can't find much info. But I don't believe bitcoin will die, agree with Sai c:

>>20963
Yeah it's very inefficient to download the whole blockchain, in my own personal experience it takes a lot of time. And everytime I launch the client I probably have to wait at least one hour to sync changes in the blockchain. But I'm pretty sure this only applies to the native bitcoin client. There's clients which use faster verification and only need to download small parts of the blockchain, which is very fast. I recommend electrum wallet.
[+] 1 user loves Yuu's post
tsubasa
lewd
Music
Posts: 44
Threads: 1
Joined: Sep 2015
Reputation: 0
10-03-2015, 04:17 AM
#21068 (15)
Thank you so much for all your replies! :3

>>20958
> >>20309
> > I wish I'd invested in BTC earlier on. Now bitcoins are pretty hard to obtain
> without
> > losing money in the process.
>
> The fees that come with buying BTC are ridiculous.

I'm not sure if I understand that correctly, probably due to my bad english skills. Are the fees in your experience small or huge?

In my experience so far and if I calculated that correctly, I actually save a tiny amount of money (0.2 usd per 40 usd seedbox) if I pay via bitcoin instead of paying via my paypal account where my prepaid cc is linked to. However that's only true if bitcoins don't loose value within the time I've exchanged my "real money" into it and if CHF and USD exchange rates are stable within that time.

So I can say, at least for me, that there is no real difference if I pay with bitcoin or paypal. I don't loose/win money and if I do, it's probably a very tiny amount I don't think I need to care about. If I start caring about that, I should probably try to save money on other things before that anyways.
Melancholy
すけべ
Admin
Posts: 3,868
Threads: 213
Joined: Jul 2014
Reputation: 60
10-03-2015, 04:23 AM
#21069 (16)
>>21068
It's that most people sell BTC at a higher value than what it is worth; so if you purchase from them, you end up losing money.

[+] 1 user loves Melancholy's post