What exactly is Bitcoin?

Discussion in 'Cryptocurrency, Finance, & Gambling Discussion' started by shade082, Mar 23, 2015.

What exactly is Bitcoin?
  1. Unread #1 - Mar 23, 2015 at 5:26 PM
  2. shade082
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    What exactly is Bitcoin?

    Anyone mind answering my question? I think it some sort of currency that really isn't currency but it is..? How was it made into a currency?
     
  3. Unread #2 - Mar 23, 2015 at 5:33 PM
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    What exactly is Bitcoin?

    http://www.sythe.org/cryptocurrency-discussion/1665753-what-crypto-currency.html

    http://www.sythe.org/digital-currency-non-game-sales/1141212-bitcoin-why-you-should-accept.html

    Most currency we use on a daily basis is paper money. It can be printed endlessly, and has no "rare" value. Bitcoin is useful as a currency because there is a limit on the amount that can be mined, similar to the way that real life rare resources work (such as gold, silver, platinum etc). In addition to its rarity, Bitcoin is not controlled by any one person or government.
     
  5. Unread #3 - Mar 23, 2015 at 6:14 PM
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    What exactly is Bitcoin?

    Ah, Thanks man. I mean seems way too complicated for me still.
     
  7. Unread #4 - Apr 1, 2015 at 11:30 PM
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    What exactly is Bitcoin?

    You can also use online wallets, and it's wise to use a mixing service when depositing your BTC into other wallets if you wish to improve you're anonymity or at least the source of where the BTC came from.
    However i'm pretty sure it could still be traced through the Blockchain but would just take a fair bit of time to find all the wallets your BTC bounced through.
     
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