Anyone ever used Bitcoins?

**PistolPete33** · 10-25-2013, 07:16 PM

They are saying this program will revolutionize eCommerce so I thought I would give it a try. So far not having a good experience. It took 3 days to get my bank account verified and then bought some coins and it's going to take a week to process. So, basically it will be 10 days before I can even use the service. Not sure how this will revolutionize eCommerce? So far not impressed in the least!!!!

**Fcastle357** · 10-25-2013, 07:32 PM

Was looking into it myself but to afraid to take the plunge. I'm assuming you did this to buy gear.

**songdog** · 10-25-2013, 07:54 PM

Wat is it?

**Fcastle357** · 10-25-2013, 07:55 PM

Originally Posted by songdog

Wat is it?

It's a type of Internet currency.

**PistolPete33** · 10-25-2013, 07:57 PM

Originally Posted by Fcastle357

It's a type of Internet currency.

Exactly. It's a service similar to Paypal but you can do international and domestic transaction. The Coins that you buy will go up and down in value based on what the market is doing. I'm just not crazy about waiting another week to have access to my coins. I think it is only the first go around that it works this way and I think after your first purchase you can buy instant coins.

**austinite** · 10-25-2013, 10:04 PM

Yup. Made some profits without even realizing too.

**Hustlenfitness** · 10-29-2013, 12:08 PM

Silkroad is a huge user of bitcoins untraceable money it is real there is 10 milion in circualtion

**austinite** · 10-29-2013, 12:10 PM

Originally Posted by Hustlenfitness

Silkroad is a huge user of bitcoins untraceable money it is real there is 10 milion in circualtion

Ever check the news?

**Rwy** · 10-29-2013, 02:25 PM

I would be careful. Its super volatile.

There was a story about a guy that bought 5000 four years ago and its worth 700k now. Look it up I think it was on yahoo today

**Brett N** · 10-29-2013, 05:31 PM

Bitcoin is a real pain in the ass. I guess all their verification is necessary because of fraud but Paypal and Bill Me Later aren't near as difficult. Also, if you think Bitcoin makes you anonymous, you are sadly mistaken. Unless, ypou used someone else's ID and address for verification.

**PistolPete33** · 11-01-2013, 05:54 AM

Bitcoin was a total pain in the ass and my funds were finally available yesterday afternoon after over a week of it being processed. What a joke.... I ended up paying for my recent order with a different payment option because I didn't want to wait any longer. That said, I ended up buying $483 worth of Bitcoins and because the currency changes I actually just cashed it out at $589. Not too shabby. I made $100 basically just tying my money up for a week. I may keep an eye on the currency and if it goes low I may simply buy some more.

**DanB** · 11-03-2013, 02:44 PM

Originally Posted by austinite

Yup. Made some profits without even realizing too.

This

I made substantial profit this year, nothing legal or illegal has a margin even remotely similar, I remember when they were 40cent per Bitcoin, I got me some at start of year at 2euro-ish each, they went as high as 200euro each a couple months ago