Seems we need a Bitcoin thread to discuss about due the growing popularity of this virtual money.
Forex-TSD is studying the idea of take Bitcoins as payment method and having our thread to discuss about pros and cons sounds as good approach.
You will find more information on the official Bitcoin page Bitcoin
As any other currency on Forex market bitcoins fluctuates against other currencies. The most know exchange is https://mtgox.com/
And there are charts and real time values at http://bitcoincharts.com/markets/
Some brokers started to take Bitcoins as payment method.
So. This is Forex talks too-.
I found about about the bitcoin too just today from a post on FF about a new broker that lets you deposit with this, bitforex or something.
Just downloaded their client/wallet or p2p software and its running, they state that it takes a whole day to synchronize the client with the p2p servers. I have it running, it's now about over 6 hours and it's still synchronizing lol
Will let you guys know how this works when I have my account with them.
Over here in India ex-changers are charging about 250 INR per bit coin, that would mean the value of 1 bitcoin is about $5 more or less in value, just to give you the idea of how much they are worth.
For the hardcore users of bitcoin
Here you can follow the development of a mining hardware with a capacity of 60 GH/s :
Thanks for the link. What about to start our mining community?
Do you think as I think the main problem still is the easy access to the bitcoin exchange ???
Because funding does not relies on most known payment gateways several people find hard to access the market if does not takes PayPal or Credit Cards.
From the practical side looks great to avoid charge backs and swindlers. There are several payment processors you can use to fund your account but not widely known.
Youn can trade bitcoins by opening account. And to fund the account you can use:
E-Currencies supported by the AurumXchange
Bitcoin - For everyone.
Dwolla - Only for US citizens who have a verified account with us.
LibertyReserve - Through AurumXchange and Bitinstant only
OKPAY - For everyone has an OKPay account.
Japanese Domestic Transfer - For Japanese residents who have a verified account with us.
Technocash - Only for Australian residents who have a verified account.
Full official list is here: https://support.mtgox.com/entries/20490576-Withdrawals-and-Deposits
PayPal, Visa, Mastercard, etc are the daily shit you have to eat because no substitutes or real alternatives. Pushing the Government's regulations they managed to get the a monopoly within online transactions. But can ask to anyone just to confirm everybody hates PayPal, especially the merchants.
To universalize the market access and making it easy to everybody it's key for clean prices.
Thanks for the link mate.
Myths are falling?
Limited supply means fair deflated prices.
Better than gold trade in a decade?
It seems it is not a good time for that
Bitcoin fell 50% in just couple of hours
Interesting and here is why,
Bitcoin Suffers A Correction Amid Apparent DDOS Attacks On Some Exchanges | TechCrunch
Quite interesting. I'm just thinking why hackers do not attack any other market ? cbot or nyse are thousand times bigger
But beyond any conspiracy theory and as fanatic of raw economics, the concept of bitcoin is fascinating.
All currencies produces inflation because prices adjustments, offer and excessive demand and bla bla bla.
Inflation is one more product of the financial system. We can could have a free inflation world right now but Banks will stop to make money from thin air.
Or it is a war for the virtual money market already going on : Introducing Ripple, a Bitcoin Copycat - Businessweek
Competition causes reactions like that, and it is good. It was a bubble anyway