BitCoin
- Thread starter CherBear
- Start date
Darky
NAXJA Forum User
- Location
- 29 Palms, CA
I'm lazy, I highly recommend you explain it to me. 
I'm lazy, I highly recommend you explain it to me.
Sourced from Wikipedia.
Bitcoin is a digital currency created in 2009 by Satoshi Nakamoto. It is also the name of the open source software designed in order to use this currency.
Bitcoin is one of the first implementations of a concept called crypto-currency, which was first described in 1998 by Wei Dai on the cypherpunks mailing list. Building upon the notion that money is any object, or any sort of record, accepted as payment for goods and services and repayment of debts in a given country or socio-economic context, Bitcoin is designed around the idea of using cryptography to control the creation and transfer of money, rather than relying on central authorities.
If any of you have invested in Gold or Silver, this may interest you.
Darky
NAXJA Forum User
- Location
- 29 Palms, CA
I'm an idiot, I highly recommend you dumb it down some.
Or really, is this something that has gotten any traction? If it is what it sounds like (digital money that would be linked to you with no physical manifestation, it could be a very scary/exciting thing for those of us who believe the Bible...
I'm an idiot, I highly recommend you dumb it down some.
Or really, is this something that has gotten any traction? If it is what it sounds like (digital money that would be linked to you with no physical manifestation, it could be a very scary/exciting thing for those of us who believe the Bible...
Roughly 2 million USD worth has been traded over the past 30 days. So it is not huge, but it is gaining users all the time.
How is bitcoin like any fiat currency?
It is not pegged to any real world item. ie gold, silver.
It can be traded against other currencies.
How is bitcoin different than other currencies?
It is only a digital entity, you cannot hold a bitcoin in your hand.
It is completely decentralized. No one person or group has the power to control it or create more.
A set amount of bitcoins exist.
Unfortunately not widely accepted (yet)
Does not inflate (it does, but for this purpose it does not)
It is used all over the world.
It (can be) completely anonymous.
My question for you is how do you feel this is related to the bible?
Darky
NAXJA Forum User
- Location
- 29 Palms, CA
If it were to get picked up or noticed by a governmental entity, it could be easily used to bring about the mark. You will have to have the mark in order to buy or sell anything and if the currency is fully digital, that would make it a lot easier to implement. Tie a small RFID or whatever to it, scan that to buy. If currency is physical, people can choose to accept it from people who haven't taken the mark. If it's digital, there is no possibility for people to circumvent the system.
