Bitcoin
-
It's pointless now to do your own, unless you build a warehouse of bitcoin mining servers.
Otherwise, you will always spend more to mine them than you make from mining them.
The only realistic way to get them at this point is to either buy them with real money, or sell something for bitcoins.
I honestly do not see any point of Bitcoin unless you are interested in illegal goods or activities.
-
@tim_g - I partly disagree, It will get used for illegal transactions (just like cash does) but online transactions, like hosting, could be deemed a bit safer (like paypal) you will not have to disclose your bank cards, just your wallet address. I have noticed that many online stores are starting to accept Bitcoins.
-
Changing Bitcoin into US dollars is illegal?
-
@lakshmana said in Bitcoin:
Changing Bitcoin into US dollars is illegal?
It's perfectly legal. Bitcoins just tend to be used for illegal purposes. They are primarily for people hiding their identities.
-
Why the people hiding the identities for using Bitcoin?
-
@lakshmana said in Bitcoin:
Why the people hiding the identities for using Bitcoin?
Because of illegal activities.
-
Whether the Bitcoin value is higher than US Dollar?
-
@lakshmana said in Bitcoin:
Why the people hiding the identities for using Bitcoin?
The only reason this ransomware stuff is a conceivable idea is because of bitcoin. If everyone had to send money to someone's bank account, it wouldn't work out lol. Instead, the criminals can hide behind their bitcoin wallet a lot easier.
-
If new one is opening wallet legally how safe wallet will be?How can individuals trust in the wallet portal?
-
@lakshmana said in Bitcoin:
If new one is opening wallet legally how safe wallet will be?How can individuals trust in the wallet portal?
Each wallet has a universally unique ID. So a person can create a billion wallets, all with their own unique ID. But still controlled by a single person.
-
Investing money in Bitcoin is good for individuals or risk in life?
-
@lakshmana said in Bitcoin:
Investing money in Bitcoin is good for individuals or risk in life?
That's just a general Forex question. Two basic rules:
- ALL investing is a risk. It is the risk that makes profits possible.
- FOREX investing is fast risk.
-
@lakshmana said in Bitcoin:
If new one is opening wallet legally how safe wallet will be?How can individuals trust in the wallet portal?
Not very safe. Bitcoin has announced that wallets made around this time might just vanish without warning, all money being lost.
-
@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
If new one is opening wallet legally how safe wallet will be?How can individuals trust in the wallet portal?
Not very safe. Bitcoin has announced that wallets made around this time might just vanish without warning, all money being lost.
If the wallet is vanishing then money also vanishes Right?
-
@lakshmana said in Bitcoin:
Whether the Bitcoin value is higher than US Dollar?
There is a conversion rate like all currency
-
@lakshmana said in Bitcoin:
@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
If new one is opening wallet legally how safe wallet will be?How can individuals trust in the wallet portal?
Not very safe. Bitcoin has announced that wallets made around this time might just vanish without warning, all money being lost.
If the wallet is vanishing then money also vanishes Right?
Yes
-
@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
If new one is opening wallet legally how safe wallet will be?How can individuals trust in the wallet portal?
Not very safe. Bitcoin has announced that wallets made around this time might just vanish without warning, all money being lost.
If the wallet is vanishing then money also vanishes Right?
Yes
Unless you have a backup of the wallet, which you should be doing. (since it is an important item in ones life)
I remember a few years ago a bitcoin mining company lost their wallet with millions, and didn't have a backup. . . FOOLS!
-
@dustinb3403 said in Bitcoin:
@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
If new one is opening wallet legally how safe wallet will be?How can individuals trust in the wallet portal?
Not very safe. Bitcoin has announced that wallets made around this time might just vanish without warning, all money being lost.
If the wallet is vanishing then money also vanishes Right?
Yes
Unless you have a backup of the wallet, which you should be doing. (since it is an important item in ones life)
I remember a few years ago a bitcoin mining company lost their wallet with millions, and didn't have a backup. . . FOOLS!
That backup responsibility lies in individuals or in company who owns wallet?
-
@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
If new one is opening wallet legally how safe wallet will be?How can individuals trust in the wallet portal?
Not very safe. Bitcoin has announced that wallets made around this time might just vanish without warning, all money being lost.
If the wallet is vanishing then money also vanishes Right?
Yes
It's too risk with Money.
-
@lakshmana said in Bitcoin:
@dustinb3403 said in Bitcoin:
@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
If new one is opening wallet legally how safe wallet will be?How can individuals trust in the wallet portal?
Not very safe. Bitcoin has announced that wallets made around this time might just vanish without warning, all money being lost.
If the wallet is vanishing then money also vanishes Right?
Yes
Unless you have a backup of the wallet, which you should be doing. (since it is an important item in ones life)
I remember a few years ago a bitcoin mining company lost their wallet with millions, and didn't have a backup. . . FOOLS!
That backup responsibility lies in individuals or in company who owns wallet?
All wallets are controlled by an individual (unless there was some business mining organization)
