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Old 01-09-2016, 10:00 AM
 
Location: Suburbia
8,826 posts, read 15,364,032 times
Reputation: 4533

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Quote:
Originally Posted by Carlingtonian View Post
Never understood the point of bitcoin unless you're up to something illegal. Even if you're buying something on eBay from someone overseas, they all take dollars or at least euros. I suspect bitcoin is the longest-running scam in history and will come topping down at some point.
I asked four coworkers if they had ever heard of Bitcoin before finding someone who had. Her reaction, before even telling me about it was, "It's a scam".

After hearing more about it (it became a happy hour topic) I'm still not sure I quite understand its purpose.
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Old 01-09-2016, 02:06 PM
 
103 posts, read 171,543 times
Reputation: 16
Quote:
Originally Posted by tgbwc View Post
I asked four coworkers if they had ever heard of Bitcoin before finding someone who had. Her reaction, before even telling me about it was, "It's a scam".

After hearing more about it (it became a happy hour topic) I'm still not sure I quite understand its purpose.
bitcoin is the future.

It is a way to go back to gold-standard without actually going back to gold-standard.
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Old 01-12-2016, 07:28 AM
 
Location: Cape Fear, North Carolina
192 posts, read 258,186 times
Reputation: 142
I thought Bitcoin is a digital currency. I guess not if they have ATMs now.

To me, it is a means of laundering money in an untraceable manner.
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Old 01-12-2016, 08:21 AM
 
103 posts, read 171,543 times
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Quote:
Originally Posted by Daedalus-NJ View Post
I thought Bitcoin is a digital currency. I guess not if they have ATMs now.

To me, it is a means of laundering money in an untraceable manner.
Every time there's a birth of a bitcoin, it is logged into US gov't database. They will trace that coin throughout the life of the coin. It is the ultimate form of anti-money laundering and better than current form of data mining by FinCEN.
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Old 01-13-2016, 05:55 AM
 
448 posts, read 746,243 times
Reputation: 258
The ATM is just an exchange where you exchange cash for bitcoin. The nice thing about bitcoin is that it is traceable. Cash is the real evil because it cannot be traced. The Banks or government don't even care unless a customer is doing 10,000 frequent deposits or withdrawals, then and only then does that represent a potential red flag.
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Old 01-13-2016, 09:56 AM
 
103 posts, read 171,543 times
Reputation: 16
Quote:
Originally Posted by midlifeman View Post
The ATM is just an exchange where you exchange cash for bitcoin. The nice thing about bitcoin is that it is traceable. Cash is the real evil because it cannot be traced. The Banks or government don't even care unless a customer is doing 10,000 frequent deposits or withdrawals, then and only then does that represent a potential red flag.
My guess is if international currencies peg to a digital currency, the asset prices will come falling down faster than anything.
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Old 03-01-2016, 07:21 PM
 
448 posts, read 746,243 times
Reputation: 258
Smile Two Way Bitcoin ATM spotted at National Harbor Sunoco

This machine enables you to Buy or Sell Bitcoin. It's Located inside the Gas station.

(111 N. Cove Terrace, National Harbor, MD 20745
Attached Thumbnails
Bitcoin machine in Arlington VA-bitcoin-logo.jpg  
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Old 05-16-2016, 08:14 AM
 
448 posts, read 746,243 times
Reputation: 258
Bitcoin Machine spotted in Woodbridge, Virginia!

https://www.google.com/maps/place/15...!4d-77.2903212

Last edited by midlifeman; 05-16-2016 at 08:45 AM..
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