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If Crypto Currency isn't Government Money, What Kind is it?
LoP Guest
lop guest
User ID: 1337
01-04-2018 08:25 AM

 



Post: #16
RE: If Crypto Currency isn't Government Money, What Kind is it?
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Archangel  Wrote: (01-04-2018 08:22 AM)
Do people take their 'dollars' and buy Crypto Currencies like Bitcoin?

How does one obtain these things?

Yessir it works on an exchange just like the regular market. I would recommend coinbase if you are interested in getting started.. one of the more reputable exchanges
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LoP Guest
lop guest
User ID: 1337
01-04-2018 08:25 AM

 



Post: #17
RE: If Crypto Currency isn't Government Money, What Kind is it?
As always .. do your own research. Coinbase is located in the US.. which is why they are so popular
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LoP Guest
lop guest
User ID: 1337
01-04-2018 08:26 AM

 



Post: #18
RE: If Crypto Currency isn't Government Money, What Kind is it?
And for heavens sake don't buy until the coming crash.. it's only inevitable. I wish i bought eth when it dropped to 150.00!
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Archangel
Michael
User ID: 1337
01-04-2018 08:30 AM

Posts: 4,079



Post: #19
RE: If Crypto Currency isn't Government Money, What Kind is it?
LoP Guest  Wrote: (01-04-2018 08:25 AM)
Archangel  Wrote: (01-04-2018 08:22 AM)
Do people take their 'dollars' and buy Crypto Currencies like Bitcoin?

How does one obtain these things?

Yessir it works on an exchange just like the regular market. I would recommend coinbase if you are interested in getting started.. one of the more reputable exchanges

So then after 'buying' a bit coin, does one take possession of the coin?

I'm trying to wrap my mind around this. Thanks for telling me about it.
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LoP Guest
lop guest
User ID: 1337
01-04-2018 08:31 AM

 



Post: #20
RE: If Crypto Currency isn't Government Money, What Kind is it?
LoP Guest  Wrote: (01-04-2018 08:23 AM)
LoP Guest  Wrote: (01-04-2018 08:19 AM)
There aren't any coins you idiot!

Proves how much you DON'T know.

BitCoin is a term, NOT an actual coin..

I thought they had actually made some bitcoin coins.

https://c1.staticflickr.com/3/2852/33329...6b83_b.jpg





My limited understanding is, yes some coins were made initially, but later the idea was dropped. 
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LoP Guest
lop guest
User ID: 1337
01-04-2018 08:32 AM

 



Post: #21
RE: If Crypto Currency isn't Government Money, What Kind is it?
It's like Monopoly money except it costs the electrical usage of thousands of homes to generate a Monopoly penny ... or something like that. Some wild crazy amount of power per Crypto-Penny.
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LoP Guest
lop guest
User ID: 1337
01-04-2018 08:35 AM

 



Post: #22
RE: If Crypto Currency isn't Government Money, What Kind is it?
Seems to me for a few people to make a lot of money, a lot of people must lose their investment. Where else will the money come from?
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LoP Guest
lop guest
User ID: 1337
01-04-2018 08:36 AM

 



Post: #23
RE: If Crypto Currency isn't Government Money, What Kind is it?
User I.D. 1337, how many of you are there?

You do realize that simply changing your screen name does not change your I.D.??
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Archangel
Michael
User ID: 1337
01-04-2018 08:37 AM

Posts: 4,079



Post: #24
RE: If Crypto Currency isn't Government Money, What Kind is it?
If someone buys one, who does the money go to?
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Archangel
Michael
User ID: 1337
01-04-2018 08:37 AM

Posts: 4,079



Post: #25
RE: If Crypto Currency isn't Government Money, What Kind is it?
We're all that user number, for at least the time being, in this changeover....
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LoP Guest
lop guest
User ID: 1337
01-04-2018 08:41 AM

 



Post: #26
RE: If Crypto Currency isn't Government Money, What Kind is it?
LoP Guest  Wrote: (01-04-2018 08:36 AM)
User I.D. 1337, how many of you are there?

You do realize that simply changing your screen name does not change your I.D.??

LOL and YOUR ID is??? ; )
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LoP Guest
lop guest
User ID: 1337
01-04-2018 08:48 AM

 



Post: #27
RE: If Crypto Currency isn't Government Money, What Kind is it?
Archangel  Wrote: (01-04-2018 08:30 AM)
LoP Guest  Wrote: (01-04-2018 08:25 AM)
Yessir it works on an exchange just like the regular market. I would recommend coinbase if you are interested in getting started.. one of the more reputable exchanges

So then after 'buying' a bit coin, does one take possession of the coin?

I'm trying to wrap my mind around this. Thanks for telling me about it.

technically you do as the key that enables the coins to be spent is created on your computer at the time of purchase. however, like a password this can be stolen by hackers so like anything online it can be stolen. it's a technology that's still in it's infancy which is part of the excitement people are feeling. as investing goes it is not as secure as something like buying a stock in which case there are more regulations in place to prevent theft such as limits. im still learning too, but as investing goes the general rule is to spread your investments out over several assets

hope this helps:
https://en.bitcoin.it/wiki/Private_key
https://en.bitcoin.it/wiki/Proof_of_Ownership
https://bitzuma.com/posts/six-things-bit...vate-keys/
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LoP Guest
lop guest
User ID: 1337
01-04-2018 08:48 AM

 



Post: #28
RE: If Crypto Currency isn't Government Money, What Kind is it?
LoP Guest  Wrote: (01-04-2018 08:41 AM)
LoP Guest  Wrote: (01-04-2018 08:36 AM)
User I.D. 1337, how many of you are there?

You do realize that simply changing your screen name does not change your I.D.??

LOL and YOUR ID is??? ; )





WTH?

Must be something up with the changeover..
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LoP Guest
lop guest
User ID: 1337
01-04-2018 08:52 AM

 



Post: #29
RE: If Crypto Currency isn't Government Money, What Kind is it?
Archangel  Wrote: (01-04-2018 08:37 AM)
If someone buys one, who does the money go to?

to the seller, just like a regular stock or commodity
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LoP Guest
lop guest
User ID: 1337
01-04-2018 08:52 AM

 



Post: #30
RE: If Crypto Currency isn't Government Money, What Kind is it?
LoP Guest  Wrote: (01-04-2018 08:48 AM)
LoP Guest  Wrote: (01-04-2018 08:41 AM)
LOL and YOUR ID is??? ; )

WTH?

Must be something up with the changeover..

D is working on it. Not to worry. It'll be okay as he's fixed this particular ID# glitch before in 2017 so hopefully it will be easier for him a second time.
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