Bitcoin users?

[Pieces_of_History 0]

This has been advertised recently quite often on RT (Russia Today) and seems to be a new way of doing business online using digital cash? Has anybody used it? What do you think of it?

http://www.bitcoin.org/

[declanwmagee 122]

I have read about it, I think it's a fantasic concept, quite democratising, but haven't tried it.

Why don't you be the first and let us know?

[1949threepence 3,366]

On the face of it, a fantastic concept. Indeed, anything that will go some way towards breaking the power of the current banking system, is to be strongly applauded. Global banking has become way too powerful and arrogant in recent decades.

I can see this idea catching on in the years to come, but I'd like to actually see it in action and in a more generally recognised way, before I tried it myself.

[SionGilbey 1]

A global, decentralised currency?

[AJWcoins 1]

Great idea who's gonna give it a go?

[Peckris 579]

A global, decentralised currency?

Isn't that (theoretically) what PayPal is?

[declanwmagee 122]

A global, decentralised currency?

Isn't that (theoretically) what PayPal is?

Nooo...

PayPal's just another bank, 'cept it's owned by eBay. Which is ultimately owned by the banks via venture capital I expect.

[argentumandcoins 70]

Once you get your head around the fact that money doesn't really exist anywhere you begin to wonder why we don't go back to the barter system (I'm sure that the Treasury is probably considering it).

[declanwmagee 122]

I fixed someone's computer for a pouch of baccy the other day. Got to start small if you want to change the world. The trouble with bitcoin, and the like, is it still totally relies on the Matrix to keep it going. Far better to get on with your neighbours, help 'em out when you can, and soon enough they'll help you in a way you'd never have thought of.

No coins required, not even pretend ones, and if your neighbours are within walking distance, no reliance on machinery, power or fuel either. A neighbour of ours, big posh house and 40 acres with it, has had to cut her water off while I try and find a mains leak under her peonys (!), and my goodness, that brings home how reliant they've become on being spoon fed by the system.

Now they have to:

burn wood for heat (like us!)

bring water in in containers (like us!)

piss in the bushes (like us!)

It'd be hilarious if they hadn't gone on holiday and left us looking after the place, so now we're rambling about in this mansion, living exactly as we normally live in our little bus.

[Peckris 579]

A global, decentralised currency?

Isn't that (theoretically) what PayPal is?

Nooo...

PayPal's just another bank, 'cept it's owned by eBay. Which is ultimately owned by the banks via venture capital I expect.

Not "just another bank". There's no other bank I can use to pay for stuff online by merely logging in, and not having to provide a card number.

[Pieces_of_History 0]

Well that got you guys talking, at least! I'm not buying at the moment, because, I haven't got any dough! Arghh.. hate that, that's why I'm trying to sell some coins off. I Also wanna go get some PGMs...

Will probably purchase a few bitcoins in the near future, hopefully they will sink in value first too

[Pieces_of_History 0]

For price trending, there is a neat chart here: https://mtgox.com/

[Cerbera100 0]

A global, decentralised currency?

Isn't that (theoretically) what PayPal is?

Nah... thats just a third way that eBay can rape you for any scrap of profit you might be looking to make!

[Peter 615]

For price trending, there is a neat chart here: https://mtgox.com/

Looks like bitcoin is a gonner....if someone who has been following this can summarise past the hacking bit and explain what these boys are getting so worked up about

[Peckris 579]

A global, decentralised currency?

Isn't that (theoretically) what PayPal is?

Nah... thats just a third way that eBay can rape you for any scrap of profit you might be looking to make!

I promise you - having PayPal has allowed me to buy lots of stuff online, not to mention make payments to private individuals, without involving eBay in any way shape or form. It is mega convenient, and afaik has not involved any charges whatever.

[declanwmagee 122]

I promise you - having PayPal has allowed me to buy lots of stuff online, not to mention make payments to private individuals, without involving eBay in any way shape or form. It is mega convenient, and afaik has not involved any charges whatever.

Me too Peck. I've even bought smuggled tobacco with it

I did talk quite seriously with our local petrol station about taking it, and got very close to a deal, but they didn't quite have the nerve.

As far as I can tell, all you need for a PayPal account is:

A bank account

A credit/debit card

A post code

A landline number

Oh.

That's

Declan: 4

the Matrix: 0

then!

[Nick 325]

A global, decentralised currency?

Isn't that (theoretically) what PayPal is?

Nah... thats just a third way that eBay can rape you for any scrap of profit you might be looking to make!

I promise you - having PayPal has allowed me to buy lots of stuff online, not to mention make payments to private individuals, without involving eBay in any way shape or form. It is mega convenient, and afaik has not involved any charges whatever.

PayPal is mighty convenient and a great idea to boot, but it isn't free. For non-eBay transactions it is funded in the same way as credit cards, by a percentage surcharge on the vendor - which I'm sure ends up in the price we all pay for the goods.

[Cerbera100 0]

A global, decentralised currency?

Isn't that (theoretically) what PayPal is?

Nah... thats just a third way that eBay can rape you for any scrap of profit you might be looking to make!

I promise you - having PayPal has allowed me to buy lots of stuff online, not to mention make payments to private individuals, without involving eBay in any way shape or form. It is mega convenient, and afaik has not involved any charges whatever.

Apologies - unfortunately, I tend to be a net vendor with Paypal, so get stung on listing fees (not too bad unless you want a reserve!), final value fee (going through the roof!) and then nearly 5% on paypal!

I'll admit that it is massively convenient, but do believe that with fees approaching 20% for the vendor more sellers will become rather more hesitant about using!

[davidrj 194]

I'll admit that it is massively convenient, but do believe that with fees approaching 20% for the vendor more sellers will become rather more hesitant about using!

As someone who buys but has never sold on Ebay, I think PayPal is brilliant. I have messed about with finding Euros & dollars to send by post to overseas vendors, but life's too short - all my searches now specify paypal only

David