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Bitcoin e-Currency

Discussion in 'Payment Processing' started by wissam, Jul 20, 2013.

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Do you know about bitcoin?

  1. YUS!!

    16 vote(s)
    94.1%
  2. Nope :(

    1 vote(s)
    5.9%
  1. #1
    I think bitcoin is great and a fast payment method, and I seen many big websites like namecheap started to accept bitcoins, but bitcoins got really high in price, right now at this moment 1btc = around $92
    So I really don't know if it's reliable yet and for sure it's still not so pupolar as I can see, so I am starting this topic hopefully to get something useful out of it.

    Quoted from Bitcoin.org
    SEMrush

    So tell me what do you think, and did you use bitcoin before, what is you experience and the risks.
     
    Last edited: Jul 20, 2013
    wissam, Jul 20, 2013 IP
    SEMrush
  2. zephyrwriting

    zephyrwriting Active Member

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    #2
    I've thought about buying into the whole bitcoin thing at numerous stages - but it always seemed too unstable. It's really like forex, just the massive fluctuations allow for huge profits (or losses!).

    Bear in mind that right now 1 bitcoin is about $92 but sometime around April this year 1 bitcoin was $250+! Shortly after it reached that peak it crashed all the way down to about $30ish, and its pretty much still recovering.

    Make no mistake this is only one example of the fluctuations that take place with bitcoins. From what I've seen there've been numerous 'crashes' both small and large.

    Hope this help,

    -Vish.
     
    zephyrwriting, Jul 20, 2013 IP
    wissam likes this.
  3. wissam

    wissam Well-Known Member

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    #3

    I see, in other words if I sell some service for 100btc which is $920 and keep that money as bitcoin, in 2 months my money could become $300 if bitcoin drop, that's not really a stable currency XD yeah indeed your post was useful +
     
    wissam, Jul 20, 2013 IP
  4. Matthew H

    Matthew H Member

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    #4
    BitCoin really is not stable and I wouldn't recommend it as an investment. That being said, there are companies out there who are specialists in BitCoin trading and they're making thousands of dollars per day. The price is changing all of the time. At the end of March, BitCoins were peaking at about $260 if I remember correctly. One month ago the average BTC price was about $105. Now they're $92. So that's not a large crash, but it's a crash nevertheless.

    I had a personal online friend who took a huge risk when BTC were at $30, and he bought $1500 worth (50BTCs). He waited a little too long and sold them at the end of April for $190. Still a 600% profit, but not as big as he could have had.
     
    Matthew H, Jul 21, 2013 IP
  5. Brandon Sheley

    Brandon Sheley Illustrious Member

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    #5
    Bitcoins and altcoins are here to stay, there are more and more merchants everyday that accept Bitcoins. There are Bitcoin mining stocks you can buy into and mining machine companies that you can make a good deal of money in if you watch what you're doing. Here is a popular one https://btct.co
     
    Brandon Sheley, Jul 23, 2013 IP
  6. ArticleForce

    ArticleForce Active Member

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    #6
    A more viable business would be starting a Bitcoin-based startup. As of late, they've been increasing in popularity and a lot of investors are funding them. Regarding Bitcoin itself; I'm not sure if it's actually sustainable - it does have its up and down moments. Truthfully, I think it's just like any 'bubble' waiting to burst.
     
    ArticleForce, Jul 23, 2013 IP
  7. adenquiry

    adenquiry Member

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    #7
    BTC and other cryptocurrencies are an innovative concept. However, the main issue is that their value is not stable. This is what makes their use very speculative.
     
    adenquiry, Jul 23, 2013 IP
  8. YesThatsMe

    YesThatsMe Member

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    #8
    The big fluctuations is attracting those who love to gamble. I gave up on bitcoins and sold all my coins. The fluctuation is the biggest problem of bitcoin and also the bad usability. Right now it is simply nothing for the mass but rather something for geeks like we are. But try to tell your mom about bitcoin... do you really think she would understand all this? This is one of the main problems of bitcoin.
     
    YesThatsMe, Jul 30, 2013 IP
  9. ahmedjadoon

    ahmedjadoon Active Member

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    #9
    Bitcoin is no doubt best e-currency as no one owns it, its decentralized.This way it can't be shut down.Also currently its price is $100 and stable at it.
     
    ahmedjadoon, Jul 30, 2013 IP
  10. YesThatsMe

    YesThatsMe Member

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    #10
    Sorry but my paper currency did not have such up and downs in a time frame of two years. How can you call bitcoin stable just because the price is at round about 90$ since a few weeks?
     
    YesThatsMe, Jul 31, 2013 IP
  11. MadMantis

    MadMantis Member

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    #11
    I have 14 BTC funds and I wanna sell them for payza or neteller. But I can't find a good exchanger. Any suggestions? Or anyone here needs BTC?
     
    MadMantis, Jul 31, 2013 IP
  12. ahmedjadoon

    ahmedjadoon Active Member

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    #12
    See this website bitmit.com you can buy a lot of stuff there even neteller for your bitcoins.Its like Amazon.com of Bitcoin.
    Thanks
     
    ahmedjadoon, Jul 31, 2013 IP
  13. MadMantis

    MadMantis Member

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    #13
    Is it trusted? and have you used it before?
     
    MadMantis, Jul 31, 2013 IP
  14. SliceOfLife

    SliceOfLife Well-Known Member

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    #14
    I've used BTC few times; lastly at NameCheap for purchasing a domain. Personally won't see much of a benefit to that, but a stable (lol, yes I know; stable and Bitcoin in the same sentence...) ecurrency would be nice to have.
     
    SliceOfLife, Jul 31, 2013 IP
  15. karthimx

    karthimx Prominent Member

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    #15
    It was going up and down before 2 months and then it stabilize to $90 now.
     
    karthimx, Aug 1, 2013 IP
  16. MadMantis

    MadMantis Member

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    #16
    Actually it is over $100 now
     
    MadMantis, Aug 1, 2013 IP
  17. karthimx

    karthimx Prominent Member

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    #17
    No its 95 in BTC-E
     
    karthimx, Aug 1, 2013 IP
  18. ahmedjadoon

    ahmedjadoon Active Member

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    #18
    The Last Price of Bitcoin in USD is $106.15006
    Please check using authentic sources.It was $110 yesterday.
     
    ahmedjadoon, Aug 2, 2013 IP
  19. MadMantis

    MadMantis Member

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    #19
    Current Rate

    http://coinmill.com/BTC_USD.html#BTC=1

    1 BTC = 103.85 USD
     
    MadMantis, Aug 2, 2013 IP
  20. karthimx

    karthimx Prominent Member

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    #20
    yes changing exchange rate but it was around $240 before 2 months.
     
    karthimx, Aug 2, 2013 IP