using bitcoins

I'll consider it when the grocery store and electric company and mortgage company and gas stations accept bitcoins. Til then, not at all interested.

Bitcoins are a bit of a risky business if you ask me. Yes, they are decentralized and that's cool and all, but bitcoins have no intrinsic value whatsoever, and because they can be "created" just by someone with a fast computer, it's a currency that isn't stable. I don't know the currency conversation, but hypothetically speaking, say 1BTC = $1. Well that's cool and all, but who would want to trade a physical dollar (though in a digital sense) for a 100% digital currency? And if they were, wouldn't it be smart to assume the conversation factor would be significantly lower (i.e. $0.50-$0.60 = 1BTC)?

Finally, in my honest opinion, the process of creating bitcoins should be fundamentally illegal. The reason it takes so long to "mine" one bitcoin is because you computer is creating rainbow tables (aka cryptographic hash functions). Now I'm no genius, and my terminology may be off, but if you understand what a rainbow table is, you'll quickly discover why I think the mining of bitcoins in solely for illegal use. Think about it, the guy who created bitcoin found a way to incentivize running astronomical amounts of computer data. Rainbow tables can be terabytes upon terabytes big, but if you've got millions of people decompiling the same thing, you've turned a process that would normall have taken millenniums to calculate into essentially a decade or less (hence the "cap" on the amount of bitcoins that can be created).

As one final point, look at all the illicit uses of bitcoins? They provide so much anonymity, why would you need to use it unless you were spending bitcoins on something you didn't want tracked? Again, you could agree cash is the same way, but it has a physical value (despite being a piece of paper). I've read reports of bitcoins being used primarily in Hacktivism, fraud and theft over deep web areas such as Silk Road... If your customer isn't comfortable sending a PayPal payment that has their name attached to it, then maybe they shouldn't be buying your product/ service after all.

Long story short, it's not worth it.

Do you think Bitcoin is used to calculate something illegal? The code is open for everyone to see and lots of very smart people have looked at the code, there are even a google guy who is making a java version of the code. So no, there are no hidden stuff in the code.



Bitcoin is a neutral, like any currency and Bitcoin or cryptocurrency concept is here to stay unless you have a time machine...

Bitcoin avoids middlemen (sometimes I suspect that those who spread FUD about Bitcoin work at a middlemen company or have other "personal" interests why they really don´t like Bitcoin, might not apply to you, but you would not tell us if it did.)

Money has been used to buy billions worth of drugs/guns. It has been produced out of air to finance wars and there are non democratic regimes producing money. Are you against that kind of money?

You can use Bitcoin to give to charity or whatever you do, its what you use if for that can be evil, its not the money. Most people don´t use their money for bad stuff.

In fact, its not Bitcoin that buys drugs, its the internet, the post office who delivers the drugs and the buyer and seller. Bitcoin is just a small part of it and drugs have been sold tons of before and is sold tons of today mostly with FIAT currency.

As for anonymity. Bitcoin is private and it does not spy on its users.
Your Credit Card Is Spying on You

Data Mining CEO Says He Pays For Burgers With Cash To Avoid Junk Food Purchases Being Tracked

Though they are also spying on your politicians, military leaders, journalists etc which gives those with access power to abuse the information since its collected and stored forever.

Bitcoins are still a little risky but that also means they still are cheap.
If the currency takes off it could become worth thousands of dollars like the facebook stocks.

Since its the worlds only currency protected from inflation triggered by quantitative easing, and the only currency that can gain in value over many years, it probably will take off, I mean who dont want to hold atleast something that can become worth thousands of dollars.

This is what wordpress wrote:

PayPal alone blocks access from over 60 countries, and many credit card companies have similar restrictions. Some are blocked for political reasons, some because of higher fraud rates, and some for other financial reasons. Whatever the reason, we don’t think an individual blogger from Haiti, Ethiopia, or Kenya should have diminished access to the blogosphere because of payment issues they can’t control. Our goal is to enable people, not block them.

Pay Another Way:*Bitcoin — Blog — WordPress.com

I think that Paypal will simply have to adopt Bitcoin or another cryptocurrency in the future.

It seems to me that bitcoin is, in effect, an online barter system. They are common on a local level, where you get paid in "tokens" rather than exchanging services directly on a one to one basis.

Sounds to me as if bitcoin is the cyber-equivalent. The coins have no intrinsic value unless/until they are exchanged for something.

The only thing I have ever read about a bitcoin is that they are used on the deep web. It sounds interesting, I'm going to read more about it.

BitCoin will definitely see it's day.

When paypal moves to that island by itself , i would expect fast growth of a competitor or competitors.