Bitcoins bitcoins bitcoins!

B00Mer

B00Mer

Keep Calm and Carry On
Sep 6, 2008
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Rent Free in Your Head
www.getafteritmedia.com
Bitcoins bitcoins bitcoins!

If you don't know what Bitcoin is or are not aware of the craze that's currently going on, watch this

short introductory video

In short, Bitcoin is the world's first completely digital, unbacked, and decentralized currency that actually has a chance of catching on a global scale. Bitcoin is essentially a currency that was made up out of thin air that a large group of people decided to adopt and has since become a craze among investors.

Bitcoins have long been nothing more than a irrelevant tech toy among nerds that no one really cared about until recently. While no one really knows why bitcoin decided the explode, one of the popular theroies is that people in general are losing more and more trust in government controlled currencies and thus resulting to alternatives, bitcoin has literally exploded in value. Going from trading as low as $1, bitcoin's valuation shot up like a rocket trading at $200 USD at Mt. Gox, and is now trading at about $100 USD.

Obviously Bitcoin's biggest hurdle to overcome is adoption. At this moment Bitcoin is still a niche currency, but things are rapidly changing. Major businesses, major investors, and even countries are starting to catch on to the trend.

All of this prompts interesting discussion and I primarily have the following questions in mind:

- Do you think Bitcoin is here to stay or just a fad?
- Can a completely decentralized currency actually work or is such a concept insane?
- As the world gets more and more in debt and the printing press becomes a tempting option, do you forsee major world currencies facing serious problems, or is the bitcoin craze being fueled by a bunch of whacked-out conspiracy theorists?

I, for one, am excited to see what happens next.



 
Blackleaf

Blackleaf

Hall of Fame Member
Oct 9, 2004
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It's probably just a passing fad that has never had any chance of working.....a bit like the euro.
 
T

tay

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May 20, 2012
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Homeless, Unemployed, and Surviving on Bitcoins


Jesse Angle is homeless, living on the streets of Pensacola, Florida. Sometimes he spends the night at a local church. Other nights, he sleeps behind a building in the heart of the city, underneath a carport that protects him from the rain.

Each morning, he wakes up, grabs some food, and makes his way to Martin Luther King Plaza, a downtown park built where the trolley tracks used to run. He likes this park because his friends hang out there too, and it’s a good place to pick up some spending money. But he doesn’t panhandle. He uses the internet.

The park offers free wireless access, and with his laptop, Angle watches YouTube videos in exchange for bitcoins, the world’s most popular digital currency.

Angle learned about bitcoin through Sean’s Outpost, a Pensacola charity that has raised about $32,000 through a program that solicits donations in bitcoins rather than American dollars. So far, it has received donations from 25 different countries, and this has bought almost 16,000 meals for Pensacola homeless.

“Bitcoin beats the **** out of regular money,” says Jason King, the founder of Sean’s Outpost. “We’ve resonated so well with people because it’s direct action. There’s no chaff between donation and helping people.” That could change, as regulators in the U.S. put the clamps on the use of bitcoin.


more

http://www.wired.com/wiredenterprise/2013/09/bitcoin-homeless/
 
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