Anyone use BitCoin?

[admin]

I was thinking that Gigarank could also allow BitCoin as payment for our services.

Do anyone on theses forums have a BitCoin wallet that they use for payment / transfer for goods and service's?

What are your experience's in using BitCoin?

Sent via T1000 from Skynet.

 

[GigaGreg]

I have no experience but I know that bit coins are mad expensive in uk. And if you want to mine bit coin you need to have more than powerful pc.

 

[strokerace]

Bitcoin is a virtual currency.Its untraceable for the person using it to buy something. They say its worth more then gold. The price changes all the time. So, if you have lets say, 100 bitcoins today. Tomorrow it could be worth 101 or 99. Now, I won't say that the price ever goes down like that. But, you can make money off of it if you are careful and watch it. As for a payment method, a lot of places are now starting to accept it. For an example. Today, 1 bitcoin is worth $542.50 Canadian dollars.
Here is something that I found and it might be worth reading before you decide.
http://www.marketwatch.com/story/10-things-bitcoin-wont-tell-you-2014-07-25

 

[Yozora]

I've never used it, but I've heard it's been used in shady dealings online...Is it gaining popularity among web hosts?

 

[Genesis]

I have no experience myself, but was amused and curious when I passed a coffee shop in Vancouver, Canada two years ago and noticed that one could buy coffee there with bit coins. I should have gone in to check out how it works. Darn! :hitwall:

Wait a minute. Just found an article about it when I Googled it. That was about the time when I travelled to Vancouver. Gets even more interesting as they have an ATM for Bitcoins inside the Coffee Shop:
http://www.smh.com.au/it-pro/busine...tcoin-atm-opens-in-canada-20131030-hv28q.html

 

[admin]

I've opened a Bitcoin wallet, I have yet to deposit anything or use it yet. Not sure if I 100% trust Bitcoin yet.

An example, if you paid for a service via Bitcoin and they do not deliver on their promise how would you instigate a refund or chargeback? You can't..

 

[bcksys]

the price for bitcoins will go down each day it passes.
Cause peoples invents every day new machines to mine them faster and faster, lowering the value.

the more they mine, the more it becomes cheap.

 

[dmull]

The currency in BitCoin is so much higher than regular currency anywhere else.Something I can get for $5 US dollars will cost me 200 Bitcoin.

Mining BitCoin is not work the machine and energy cost. Actually, It cost more to mine as it uses more energy.

In my opinion, I feel BitCoin has not caught on for a reason. I have stayed away from this and always will.

 

[TheMisterExplorer]

I do have a small bitcoin miner but i don't use them because i don't have where to spend them.

 

[Barnum4000]

Bitcoins is great but it has quite a shady background because it is untraceable and often used to buy and sell drugs. I would also assume that not many people actually have or use bitcoins as a currency but I could be wrong.

 

[yuninho2005]

I've opened a Bitcoin wallet, I have yet to deposit anything or use it yet. Not sure if I 100% trust Bitcoin yet.

An example, if you paid for a service via Bitcoin and they do not deliver on their promise how would you instigate a refund or chargeback? You can't..

There are new technologies addressing that issue. There is something called ethereum. It is an evolution of the technology used for bit coin. I say is an evolution because you can there create what they call Smart Contracts. In a programming language you can define a contract where you pay for the product or service and if the provider do not make his part then automatically the Smart Contracts returns your money to your account. Maybe you can read more about that and so you can understand it better.

 

[AleksssBoss157]

From my oppinion bitcoin is the curency of the future because is very popular and it grows so quick.I have a wallet on blockchain for my main bitcoin address and a counterwallet address for my assets(other virtual currencies based on bitcoin).