Got any bitcoins yet?

[Moon]

I'm surprised this topic hasn't come up yet on IIS, considering it's in the news lately (http://www.theage.com.au/money/investing/is-online-currency-a-safe-investment-20130408-2hfmn.html).
Has anyone got any? Interested to know what you all think of the concept.

James

[Shano592]

Have a look here ... that thread has been going now for 2 years.

http://forums.whirlpool.net.au/forum-replies.cfm?t=1663664

[Phil Hart]

This book is a good few years old, but if you're interested in the problems with our existing currency systems, then it is well worth a read:

http://www.lietaer.com/writings/books/the-future-of-money/

I think BitCoin is a fascinating concept that I will be watching closely. The speculative and rapidly changing value at the moment is a bit of a problem. I'd like to see a more equitable currency where somehow every individual is allocated the same starting amount. The speculative nature and growth at the moment doesn't make for a very equitable system or a fairer world.. but I still couldn't resist buying a couple myself.

Phil

[Phil Hart]

And the other problem is so many new crypto-currencies being created.. where does it stop?

[TrevorW]

A news story on TV last night didn't catch all about someone being defrauded by a Bitcom start up

[Moon]

60 pages of comments too; I suppose it's a different demographic to IIS.

[multiweb]

The problem for it to work as a currency is that there was a limited initial amount of bitcoins generated. Lately people saw it as an investment not as a currency and held on to it. So who will accept bitcoins payments in the future knowing that in a couple of months it could be worth only half of what it's rated at now. It's way too volatile to be reliable. It was a great concept originaly but what happened with speculation now killed it as an effective currency IMHO.

[Moon]

There are also some good Bernard Lietaer lectures published on youtube for the lazy :-)