breakingcontact
TGT Addict
http://austinist.com/2014/01/30/theres_a_gun_store_in_austin_that_a.php
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I still don't understand the whole bitcoin thing. It makes zero sense to me.
I still don't understand the whole bitcoin thing. It makes zero sense to me.
Except it exists purely on the internet and is traded like a commodity. Value can change, buy low, sell high, but then again, so is real currency. Least that is my minimal understanding.
It's a decentralized transaction register. What don't you get?
It's money. Simple as it gets and every bit as real as Dollars, Pesos or Euros.
Except it exists purely on the internet and is traded like a commodity. Value can change, buy low, sell high, but then again, so is real currency. Least that is my minimal understanding.
If it's simply money, why is it a big deal that a Austin Gun Store is now going to accept it?
Right, and the majority of US dollars don't actually exist outside computers. If any of them exist outside the Federal Reserve's ledgers, that is.
All three rounds of "Quantitative Easing" didn't result in more printed money, they were purely digital.
Because it's a new currency, and it's the only (or biggest) one I know of that wasn't created by a government. Sometimes its noteworthy when an alternative currency is accepted by retailers because it's a sign that country's currency is getting weak.
I was going for something I didn't convey well in my reply. LOL. Point was that it's not simply money like any other currency but rather what you explained very well, alternative currency. So how long do you think it will be before it is accepted at say Walmart? Also, someone mentioned buy low and sell high. Can you also buy and then loss money if the market or whatever drives the value goes down?