Bitcoin

[teresa3200]

I keep hearing about Bitcoin but it doesn't make much sense to me. Does anyone own bitcoin? If so can you explain how you make money with it?

[vickysue]

Your asking the wrong person here, I too keep hearing about it. I guess if I google it , it will tell me  a lot about it. But I am almost afraid to get into it. I feel  like it could be a big Ponzi scheme. And would hate too lose a bunch of money  with it.

[countrygirl12]

I keep hearing about Bitcoin but it doesn't make much sense to me. Does anyone own bitcoin? If so can you explain how you make money with it?

From what I understand it is worthless.  It is just pretend money online.  It doesn't make sense to me either.

[mapiklfish]

I don't understand it either but people are making good money with it and it's becoming more mainstream.  Subway takes bitcoin and other retailers do, also.  Might be worth looking into.

[monnee]

I think it's an online $$$$$$ plan just like paypall.

[rghvac69]

I don't understand bitcoin at all. 

[teresa3200]

I think I'll buy a small amount and see what happens. I just don't want to waste too much if it doesn't work out.

[camellia0]

I don't know much about this, but it's a risk, just like any stock. There was a kid in my college class who said he invested $100 into this and made $400! Sounds good, but as I said there is a risk.

[oldbuddy]

The first factor to pay attention to is how many online sites make fees every time you want to transfer or convert Bitcoin to another account. I have settled in on CoinBase to act as a bank account and do my trading on GDAX which is linked to it. I have another website that pays in BitCoin for doing surveys, so it's only a game for me, but I have made a few hundred dollars playing it.

[Tresbn00]

It used to be a secretive way to buy and sell items that were of a questionable background-generally illicit. For example, some use it to fund offshore, online gambling which is illegal in the United States. The thought was that being decentralized allowed for anonymity but many people lost sight of the notion that eventually the money had to come back into the banking system because not everything can be purchased with bitcoin. Decentralized by not having a tangible standard giving it value like United States Dollars being backed by Gold. The value of bitcoin comes from demand and supply. The higher the demand, the lower the supply equates to the higher the value. Newer versions of bitcoin, such as monero, are proving to be more reliable if you are looking to remain anonymous with your transactions. Some people purchase bitcoin due to a lack of trust in governments and prefer to purchase things with out constant scrutiny.

[sdenimandlace1]

I need to read more about it. I have friends that a re using it and are inpressed with it.

[hawkeye3210]

Decentralized by not having a tangible standard giving it value like United States Dollars being backed by Gold. The value of bitcoin comes from demand and supply.

The US dollar is a floating currency as well. The gold standard ended in 1971.

[beatsdrop]

I wish I could, tbh.

[heidi0902]

It's a currency and is traded as such (like a forex not a stock). You can trade in the actual currency or in a company that deals in the currency (which would be on the stock market).

[Segun15]

I really don't understand bitcoins and i won't make an investment into something i really don't know anything about