Has anyone heard of these bitcoins? What do you think the impact of a currency such as this will have on global currency and the forex market? Should we all be worried that we are headed to a one world currency?
It’s a good idea, but I cant see it happening. Banks heavily depend on exchange rates as one of their major sources of income via trading, borrowing and buying of currencies. Perhaps a internet only method of exchange…and lets face it, do you really see all countries agreeing on a single centralised currency lol
I’ve heard of this before and tried looking into it but didnt really like it too much
I hope we dont get a global currency we’d all be out of a job/hobby lol
No. I don’t see all the countries actually agreeing on anything! Money, politics, religion, etc. So very good point. I just thought I would share this idea and see what the community thought of it.
They can’t even get less than half of the EU countries to agree on the Greek fun and games! Always a sure bet, when you get a group of male testosterone filled people in a single room that an agreement will not be met.
If there ever some day would be a world currency, it wouldn’t be Bitcoins.
Problem one is, the real banks aren’t involved.
Problem two is, anything digital based, can be digitally stolen, or replicated.
Here’s a really interesting writeup on the history of Bitcoins that I read a while back. It really exposes the weaknesses of trying to digitize a currency.
How do I short this thing???
Edit: How does one exchange these things to CAD, USD, CHF, EUR, GBP for example…? Is there a transaction fee?
I’ve never heard of it before, that’s sounds interesting
There a few sites that trade bitcoins for real money and visa-versa. The largest and generally most respected is mtgox.com
Ruh-roh… the bitcoin evangelical horde will be descending on us soon. Thou shalt not mock the twin pillars of bitcoin or Ron Paul without incurring their wrath.
So I can actually short this thing?
I much prefer transfering cash through paypal. The only beneifit of bitcoins is that it provides annonymous transactions
Sounds like your talking from experience ForexNewbie1, the requirement for anonymous transactions can only mean one thing. It’s ok, we wont tell your partner about your secret.
Can’t short what’s not really there.
Can’t buy it for that matter either.
Imagine shorting this thing to non-existence.
Hmmmm… very curious. Wish I had bought a couple hundred bitcoins last year when this post was written.
I think goverments will try to fight it badly!
In the world, a modern digital financial system is lacking. Wires fail 4% of the time and it can cost $40 to send $40. Often, banks have to wait days for international transfers.
The success of Bitcoin and related technologies bodes well for the future.
It is definitely an exciting time for financial technology and I expect some more innovations as we go along in the future.
Euhm, this can apply to paypall to. And how do you cash-out bitcoin? Nah, not my kinda thing. especially with all those dodgy broker companies and exchanges. It is not even hip anymore.
Sure bitcoin is one of the important currency trading platform were you can sell/buy bitcoin in online. And bitcoin is going to became most popular coin in future.