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re: BitCoins - Who here has used them or has stock?
Posted on 11/28/12 at 3:11 pm to stout
Posted on 11/28/12 at 3:11 pm to stout
Alright I kinda understand how it works. My mind is blown by it though. So many questionsssss..... Like once all 20 mil are discovered, then what? And who decides the exchange rate for real money, when they are just fake coins some guy made up?
1
Posted on 11/28/12 at 3:16 pm to Sir Saint
quote:
Like once all 20 mil are discovered, then what?
No one knows and it will be another 15 years or something like that before they are mined.
quote:
And who decides the exchange rate for real money, when they are just fake coins some guy made up?
The market does just like anything else. Supply and demand.
It's all interesting stuff and some people think Bitcoins or one of the alternatives it has birthed/will birth could one day be strong enough to take down world markets and governments since no one person or interest group regulates them like real currency.
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