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Old 03-10-2014, 01:15 PM   #1
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Bitcoin

Has anyone had any dealings? Successful?

Can someone please explain to me how it works?

specifically as it relates to mining, where the does the mathematical problems come from? who or what generates them and why does solving them = a value. is there a finite amount of coins waiting to be mined?

how are coins divided into smaller parts?

I have read several 100 pages and i still don't understand.
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Old 03-10-2014, 10:15 PM   #2
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No Idea but, I believe the CEO an American woman about 30 was found dead maybe suicide a couple of days ago in Singapore
details: American Bitcoin exchange CEO found dead in her Singapore home after suspected suicide at age 28 | Mail Online
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Old 03-11-2014, 06:48 AM   #3
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Bit coins are currency that is not under the control of the central banks.

It is therefore being ruled a commodity by the various countrys (Japan first) so it can be TAXED as the value varies.

Always nice when a country can enforce a fiction with Force and Fraud.
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Old 03-11-2014, 06:59 AM   #4
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I think the CEO was from an exchange not from bitcoin itself. The exchange is kinda kinda like a bank...i think.

Governments will always try a way to tax stuff, anything they can really. Somewhat, in this case. How do they know has the coins in their wallet?

I wish i were smarter!
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Old 03-11-2014, 08:58 AM   #5
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How do they know has the coins in their wallet?

Buy or sell online and the records are FOREVER.

Person to person like with Guns, Gold or real silver coins is difficult .
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Old 03-11-2014, 09:01 AM   #6
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Do they take tax payments in bitcoins or yen?
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Old 03-11-2014, 09:46 AM   #7
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No Idea but, I believe the CEO an American woman about 30 was found dead maybe suicide a couple of days ago in Singapore
details: American Bitcoin exchange CEO found dead in her Singapore home after suspected suicide at age 28 | Mail Online
Thanks for the News

It's a dangerous game, since virtually all the users have something to hide; therefore Bitcoin and not real money.
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Old 03-11-2014, 01:53 PM   #8
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Thanks for the News

It's a dangerous game, since virtually all the users have something to hide; therefore Bitcoin and not real money.
And since no one will even admit to founding it. And with Silk Road dead people looking for more ways to commit illegal acts.

Reality. There are plenty of legitimate currencies. Any reason to create some new pseudo-currency has to be looked at with skepticism.

Japanese makes the third bit coin exchange to declare bankruptcy. Many experts say it's nothing but a Ponzi scheme.

Meanwhile the Bitcoin Foundation is announcing the hiring of more lobbyists, there is a bitcoin love song out and bitcoin ATM's are supposedly on the way.

So who knows what will happen. Look at Paypal and people doubted it working and some others who tried similar failed.
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