reddit now accepts Bitcoin

[muh_roads]

Wow...I'm shocked at the price for one bitcoin. I was thinking of getting into it last year, but the whole $30 to $5 thing scared me off. Of course, now that I'm getting into bitcoin, it'll drop back down the $5.

I'm getting into this one verrrryyy slowly. Spent the whole day trying to figure out how it works. A lot of the CPU lingo goes beyond my comprehension, but I get the basics now.

If it drops then you buy more. We already play this game with metals.

I'll definitely help out however I can if people are confused. Same with hazek. I want to see people have the chance to prosper and prosper well.

Bitcoin was started by nerds so the confusion is understandable. But this is really the only way I can think of how to start a new money completely controlled by the people and not by governments. Things are only going to keep getting better and easier to use from here.

If you're frustrated about missing the boat. Just imagine all the people who mined in the beginning and got a shit load because the difficulty was so low. People formatted their hard drives without caring about their bitcoins. Many are probably kicking themselves now because some could literally have had 5-6+ figures worth.

The only prerequisite I think people need is a basic understanding of the law of supply & demand. Luckily everyone here already knows this. Everything else is just a technical learning curve to get in. If you can use a computer you can learn to use bitcoins.

 

[hazek]

Spent the whole day trying to figure out how it works. A lot of the CPU lingo goes beyond my comprehension, but I get the basics now.

Please.. Share how you're view of Bitcoin has changed once it clicked for you just how, from a technological standpoint, it works. I bet it changed everything, from "This is a CIA psyops scam ponzi scheme!!11" to "What a brilliant piece of technology!".

 

[QuickZ06]

I still don't get the whole bit coin thing. Some aspects still confuse me. Wish I would have got in early like others have stated though.

 

[hazek]

I still don't get the whole bit coin thing. Some aspects still confuse me. Wish I would have got in early like others have stated though.

Perhaps reading this might help you: Wrapping your head around Bitcoin (a guide ~10min reading time)

Black & white link, if you prefer that.

 

[ronpaulfollower999]

Please.. Share how you're view of Bitcoin has changed once it clicked for you just how, from a technological standpoint, it works. I bet it changed everything, from "This is a CIA psyops scam ponzi scheme!!11" to "What a brilliant piece of technology!".

I started to understand how it worked. I think it's setting up to be the way most transactions on the Internet are done in the future.

 

[muh_roads]

I still don't get the whole bit coin thing. Some aspects still confuse me. Wish I would have got in early like others have stated though.

What are you confused about?

 

[muh_roads]

I started to understand how it worked. I think it's setting up to be the way most transactions on the Internet are done in the future.

Aside from the scarcity in supply, its biggest benefit is something most of us in the west have never had to worry about. Many people in more dictatorial countries than ours have to jump through tons of hoops to wire transfer out of their country. In many cases they can't wire outward at all. Businesses in China have this problem with sending money out. Bitcoin allows them to pay their vendors instantly to anywhere around the world and get around all the regulations. Vendors that work with these countries love Bitcoin.

As time rolls on, more and more people will keep getting involved. Making them more scarce. Causing the price to rise. It is a true free market in the real sense of the term. The price is based entirely on buy/sell orders with no phony manipulation. You can't fake out the system and double-spend a bitcoin.

Everything about this is quite awesome. Instead of waiting for governments to give us a gold standard which will never happen...we have a digital version right here and now.

If there is one thing I've learned from all of this...is that intrinsic value is overrated so long as no single entity is in control.