a new online currency called "bitcoin"?
By kingparker
@kingparker (9673)
United States
April 1, 2013 9:20pm CST
Hey everyone, did you ever heard about this new currency specifically for online use, I guess for online shopping and other purpose. It is a digital money, and as long as people permit it, and recognize it, it should be widely use later on, it is called "bitcoin", and now, it was just words without reality yet. So, what do you think of it? Is it our currency for instance, U.S. dollar wasn't popular anymore, or people just lost faith in all of our currency with the recognition of the government? Check this out on bitcoin.org.
2 people like this
7 responses
@varier (5685)
• Indonesia
20 Apr 13
The concept of bitcoin itself is interesting. This digital currency is not managed by any central authority, that's why it's interesting for me.
But honestly I don't intend to use this digital currency much, especially because the Bitcoin's value is really volatile, it has relatively inflexible supply, and also minimal use in trade. There isn't many online stores which accept bitcoin. 
1 person likes this
@Zer0Stats (1147)
• India
2 Apr 13
I think it is an interesting concept and is usable across the globe.
@lovetoknow (47)
• India
14 Nov 13
Yes, I know about bitcoins and i am mining it from early 2010. Spent a lot of bitcoins on online games and gambling lol but back at that time I didn't knew that one day 1 bitcoin will be equal to $450 !!!
@foxontherails (236)
• Japan
27 Apr 13
Well, congrats. Now you know.
Bitcoin doesn't have a central authority, you know - the minting goes on through a decentralized network that uses puzzles, which computers have to solve to make bitcoins.
@invisibledeath (65)
• Lithuania
13 Apr 13
I've heard of it. It's used rather frequently actually. There was a huge price increase couple of days ago. It standed at 1 bitcoin = 140$ or something like that. Though price dropped now. There's just a few sites that accept bitcoin as currency though. But if anything, it's quite unstable currency. Also, you can mine the currency, but it takes a lot of GPU and CPU power. I haven't tried doing it, since I heard that it's not worth doing it anymore. Bitcoin isn't the only cryptocurrency. There are couple of new ones being created.
1 person likes this
@hestylim (1210)
• Indonesia
2 Apr 13
I think it might be like Linden dollar on Second life.. Maybe it is used to generalized internet currency for online work or something..
