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Message
re: Installed my first bitcoin miner...
Posted on 2/27/13 at 7:48 pm to WikiTiger
Posted on 2/27/13 at 7:48 pm to WikiTiger
quote:
Care to elaborate?
so i'm going to get a client on my computer and run a program to "mine" bitcoin, which i will eventually store over a certain period of time, whether solo or in a "mining group," and that this bitcoin, though backed by nothing but "supply and demand" will be worth actual money, sometimes ~30 dollars per coin.....
Why would i not pay money just for my item instead of "mining" for bitcoins or buying bitcoins....
makes no sense
2
Posted on 2/27/13 at 7:50 pm to HailToTheChiz
quote:
Why would i not pay money just for my item instead of "mining" for bitcoins or buying bitcoins....
Bc you can use bitcoins on bank holidays.... Duh
Posted on 2/27/13 at 7:56 pm to HailToTheChiz
quote:
Why would i not pay money just for my item instead of "mining" for bitcoins or buying bitcoins....
makes no sense
there are many reason for this, but they may actually be reasons for which you see no value. that's ok. anyway, among those reasons:
bitcoin can be seen as a hedge against inflation
bitcoins cannot be seized or have "accounts" frozen by governments or private parties
bitcoin transactions are extremely fast and cheap, and work at all hours of the day, including weekends and holidays
bitcoin transactions are secure and carry no chargeback risk
bitcoin is a "push" type of transaction and requires you provide no personal info, vs. credit cards which are "pull" and do require personal information
bitcoin can be used anonymously if you choose
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