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BitCoins. What's your opinion?

Discussion in 'The Attic' started by Adversary, May 27, 2011.

    May 27, 2011
  1. Adversary

    Adversary Dormant account webby

    Occupation:
    IT
    Location:
    Brisbane
    Herro friends,

    So I'm not too sure about how many of you know about the bitcoin uprising, it's new to me too. Basically it's a totally new form of virtual currency. It's gaining huge support and momentum at the momentum. I won't go into too much detail about it, but you could ask google if you are curious, slash go to You must register/login in order to see the link.

    It's currently being trialed as a form of payment in one poker room. I think it's cool how you get instant payouts after each hand.

    But I digress... Obviously this could be potentially devastating to certain economies all around the world as people are free to trade these bitcoins for real world goods and services and can transfer completely under the radar, free of tax and seizure. What I wanna know is, do you support the use of BitCoins and why/why not?

    Personally, I am sitting on the fence for the time being, but I am very curious to hear what you, my little friends, have to say! :thumbsup:
     
  2. May 31, 2011
  3. P.V.

    P.V. Senior Member webmeister

    Occupation:
    Make money!
    Location:
    Turn around...
    Funny you should mention bitcoin cause i was researching them tonight. I heard of this startup some time ago and was astonished by its current virtual trading rate of 8.+ USD.

    I guess you'd call it a created internet commodity of some sort that has purchase value and of course can be sold. ( The rate fluctuates like stock.)

    I think it could be a viable option for a casino that wants to operate inside the US.. Players can purchase coins and send to the accepting casino via web wallets, or bitcoin software. Casinos can pay what's owed to Players etc.. Peer to peer and totally anonymous from what I can see.

    Interesting how they use miners too.

    The anonymous payment from Players will cause confusing issues on a casinos behalf, wouldn't know whom the payment is coming from. If any jump on board I think I can solve the confusion with ease through my SSL doc. share web site if any are interested. Bitcoin is totally anonymous.

    Another issue I thought of, would a gaming site want to accept bitcoin's since the price fluctuates but it appears they can somehow apply an auto-sale to avoid a drop in value. Then again if they want to gamble with their money the price could grow by retaining the bitcoins, same applies to Players.

    I won't comment on the legalities, not sure but it appears that since it's not real money, credit or debit cards are not being used along with no banking systems then it's virtual coins.

    Kind of looks like it could be the adult version of an online Chucky Cheese for gaming sites willing to jump onboard! I'd give it a try with the right operator. :)
     
    Last edited: May 31, 2011

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