I'm thoroughly confused by all this bitcoins stuff, so what is it they do, or it does? Seriously, I dont know. Guess my ignoarance is a result of being too busy with other things.
To forgive is to free a prisoner, and to discover that prisoner was you.
1. Not physical.........stored online or hard drive or something like that
2. Not backed by anything
3. Can be stolen by hackers
1) Yes, not physical...although you could print out your hash and keep it as a backup...
2) Not backed by anything except for peoples willingness to take it or buy it... which seems to be growing. (some legit and a lot speculating so buyer beware)
3) Can not be stolen by the guy who robs your house, or wallet or when your house burns down...
I may be wrong but I understood that the bitcoin could not be stolen because every bitcoin has a path that identifies who owned it (Anonymously mind you). That's how they know it's yours because you can identify where it is... Very odd, I did not and will not partake in it until 1) I fully understand it and 2) It is accepted everywhere a CC is accepted.
"1. Not physical.........stored online or hard drive or something like that
2. Not backed by anything
3. Can be stolen by hackers
1) Yes, not physical...although you could print out your hash and keep it as a backup...
2) Not backed by anything except for peoples willingness to take it or buy it... which seems to be growing. (some legit and a lot speculating so buyer beware)
3) Can not be stolen by the guy who robs your house, or wallet or when your house burns down... "
------------------------- umm, thanks for trying to explain it LOL. Just kidding. Doesn't sound like anything I'd be interested in but apparently there are those who are "getting" the idea of it all with the rise in market value. A good ol' SDB in a Banks vault that is fully backed in value is still good enough for me. Guess SDB's are now becoming the "old school" way of storing our metals.
To forgive is to free a prisoner, and to discover that prisoner was you.
drwstr123
Posts: 7,028 ✭✭✭✭✭
Comments
1. Not physical.........stored online or hard drive or something like that
2. Not backed by anything
3. Can be stolen by hackers
I still don't understand how people can put a value on it
Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
<< <i>Here is what I know:
1. Not physical.........stored online or hard drive or something like that
2. Not backed by anything
3. Can be stolen by hackers
I still don't understand how people can put a value on it >>
Sort of like the Federal Reserve's current policy!
1. Not physical.........stored online or hard drive or something like that
2. Not backed by anything
3. Can be stolen by hackers
1) Yes, not physical...although you could print out your hash and keep it as a backup...
2) Not backed by anything except for peoples willingness to take it or buy it... which seems to be growing. (some legit and a lot speculating so buyer beware)
3) Can not be stolen by the guy who robs your house, or wallet or when your house burns down...
In other words, I'm not touching it.
2. Not backed by anything
3. Can be stolen by hackers
1) Yes, not physical...although you could print out your hash and keep it as a backup...
2) Not backed by anything except for peoples willingness to take it or buy it... which seems to be growing. (some legit and a lot speculating so buyer beware)
3) Can not be stolen by the guy who robs your house, or wallet or when your house burns down... "
-------------------------
umm, thanks for trying to explain it LOL. Just kidding. Doesn't sound like anything I'd be interested in but apparently there are those who are "getting" the idea of it all with the rise in market value. A good ol' SDB in a Banks vault that is fully backed in value is still good enough for me. Guess SDB's are now becoming the "old school" way of storing our metals.
fair enough... I tried.
And SDB's are obviously not going anywhere... I myself have one stocked with metal of both varieties. Anyone who isn't diversified is a fool.