I don't understand what Bitcoin is. Please try to describe what they are to me in the simplest terms possible. I'm afraid that I don't understand how computers work well enough to understand Bitcoin. If this is true, I want to figure out where I need to fill in my knowledge gaps.
I know that Bitcoin is a virtual currency, but what IS a bitcoin? What are the adjectives that describe this noun?
posted by josher71
on Dec 3, 2013 -
If you put a couple of hundred dollars into Bitcoins before they took off, you'd have made a pretty penny by now. Most of us didn't because, for one thing, most of us had never heard of virtual currencies before Bitcoin hit the big time. There must be similar cheap, long-shot speculations floating around now that hardly anyone's heard of. I realize no one on MeFi is going to be able to tell me what the next Bitcoin is going to be, but where might one go looking for it? What websites, blogs etc. should I be reading to have a better shot at being in early on the Next Big Thing?
posted by zeri
on Dec 1, 2013 -
Bitcoin's younger brother Litecoin has been on the rise lately, and I'd like to purchase a couple - not more than a few, I'd just like to try my hand at cryptocoin-trading.
Anyone here that has been through the process and can offer me a step-by-step way to trade? What are the most reputable exchanges? Is there an easy way of getting money onto one of these sites so that the coins can be purchased? Am I out of my gourd for considering purchasing even a small amount? I've had a look on reddit, but there is so much conflicting information that it can get a little overwhelming. [more inside]
posted by Kamelot123
on Dec 1, 2013 -
A reading group I'm in is interested in learning about alternative currencies. For example, a good overview of something like Bitcoin. Bonus points if it's coming from a Marxist or left political position.
posted by matkline
on Oct 18, 2013 -
I have access to a location that has free (to me) power where I could hook up a Bitcoin mining rig or two. Is this still worth doing, or has that ship sailed? [more inside]
posted by snuffleupagus
on Aug 26, 2013 -
I saw that Liberty Reserve was busted today (domain seized, CEOs arrested) for money laundering. I know the internet underworld uses LR, bitcoins and various other exchanges to pay for things.
How are they untraceable ? (or are they traceable ? Does that defeat the purpose ?) [more inside]
posted by k5.user
on May 28, 2013 -
Someone wants to give me Bitcoins. What's up with that these days? Should I accept these, and what can I do with them? [more inside]
posted by peep
on Dec 28, 2012 -