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  #1  
Old September 6th, 2013, 12:14 PM
Mrs Bhandaari Mrs Bhandaari is offline
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Question Is bitcoin the future of money?

Please dont ask me to explain what are bitcoins.I am typing from my mobile.Use google.
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  #2  
Old September 6th, 2013, 12:37 PM
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Re: Is bitcoin the future of money?

Quote:
Originally Posted by Mrs Bhandaari View Post
Please dont ask me to explain what are bitcoins.I am typing from my mobile.Use google.
Which one? It seems you use multiple mobile
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Old September 6th, 2013, 12:47 PM
Mrs Bhandaari Mrs Bhandaari is offline
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Re: Is bitcoin the future of money?

Whichever is charged I use that one....yep I have a bunch of them...btw we are talking about bitcoin and not my mobile or my panty...we have 2 different threads for them respectvely...
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  #4  
Old September 9th, 2013, 02:24 PM
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Re: Is bitcoin the future of money?

Bitcoin is definitely a viable alternative to a global currency.
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  #5  
Old September 9th, 2013, 02:32 PM
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Re: Is bitcoin the future of money?

What is Bitcoin ?

Answer would be appreciated by the search engine result visitors
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  #6  
Old September 9th, 2013, 02:39 PM
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Re: Is bitcoin the future of money?

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Originally Posted by swami View Post
What is Bitcoin ?

Answer would be appreciated by the search engine result visitors
Try this link. Bitcoin
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  #7  
Old October 18th, 2013, 07:00 AM
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Quote:
Originally Posted by Mrs Bhandaari View Post
Please dont ask me to explain what are bitcoins.I am typing from my mobile.Use google.
Chines renmibi is gonna be next world curuncy. if world economy total collaspe than Gold will be new curuncy.
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  #8  
Old October 18th, 2013, 07:06 AM
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Re: Is bitcoin the future of money?

Now this Chinese Renminbi is new to me
I thought the Chinese currency was yuan
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Originally Posted by punjabi lion View Post
Chines renmibi is gonna be next world curuncy. if world economy total collaspe than Gold will be new curuncy.
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  #9  
Old October 18th, 2013, 07:11 AM
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Quote:
Originally Posted by swami View Post
Now this Chinese Renminbi is new to me
I thought the Chinese currency was yuan
sir Renminbi and yuan both name correct. they say Renminbi in China and other nations says Yuan.
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  #10  
Old November 8th, 2013, 12:44 AM
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Re: Is bitcoin the future of money?

Bitcoin's appeal lies in being anonymous, untraceable, and unregulated. These attributes give the virtual currency appeal to a broad spectrum of speculators and investors, entrepreneurs, and the criminal underworld — including drug traffickers, terrorists, and anyone wanting to circumvent currency or tax regulations. So, It is not future of the money.

Last edited by Imran520; November 8th, 2013 at 09:40 PM.
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  #11  
Old December 23rd, 2013, 06:42 PM
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Re: Is bitcoin the future of money?

Quote:
Originally Posted by Imran520 View Post
Bitcoin's appeal lies in being anonymous, untraceable, and unregulated. These attributes give the virtual currency appeal to a broad spectrum of speculators and investors, entrepreneurs, and the criminal underworld — including drug traffickers, terrorists, and anyone wanting to circumvent currency or tax regulations. So, It is not future of the money.
Actually, Bitcoin is not as anonymous as you think it is. In fact, it's not anonymous at all, in the sense that everyone know exactly how many bitcoins are in every single bitcoin wallet. Now if someone can figure out the exact time and amount of a transaction, you'd be easily able to figure out who owns which wallet. As of now, it'll be very difficult to do, but given a number of years, it would be very possible to trace wallets back to individuals.
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  #12  
Old December 23rd, 2013, 06:43 PM
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Re: Is bitcoin the future of money?

Oh, and to answer the original question: it is way too volatile at the moment for anything serious to happen with bitcoin. Perhaps when it's more normalized in a few years (or more), then we can start talking. :P
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Old December 25th, 2013, 05:17 AM
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Re: Is bitcoin the future of money?

Quote:
Originally Posted by iamsweet View Post
Oh, and to answer the original question: it is way too volatile at the moment for anything serious to happen with bitcoin. Perhaps when it's more normalized in a few years (or more), then we can start talking. :P
Bitcoins not considered safe by RBI.

Quote:
RBI cautions virtual currency users about potential risks
ENS Economic Bureau Posted online: Wed Dec 25 2013, 01:45 hrs
Mumbai : The Reserve Bank of India (RBI) on Monday warned users, holders and traders of virtual currencies, including bitcoins, of financial, operational, legal, customer protection and security related risks.
The RBI said virtual currencies as a medium for payments were not authorised by any central bank or monetary authority.

The central bank said it was keeping watch at the developments relating to certain electronic records claimed to be decentralised digital currency such as bitcoins, litecoins, bbqcoins, dogecoins and their usage or trading in the country.

Bitcoins are digital or virtual currency that uses peer-to-peer technology to facilitate instant payments. Bitcoin is an alternative currency, which uses cryptography for security, making it difficult to counterfeit. Bitcoin issuance and transactions are carried out collectively by the network, with no central authority.

“As such, there is no established framework for recourse to customer problems/disputes/chargeback, etc,” the RBI cautioned.

The total number of bitcoins that will be issued is capped at 21 million to ensure they are not devalued by limitless supply. Currently, it is estimated that there are 12 million bitcoins in circulation.

RBI said there were several media reports of the usage of virtual currencies, including bitcoins, for illicit and illegal activities under several jurisdictions.

Bitcoins came under scrutiny as they were used extensively on Silkroad, an online black market for illegal drugs. Silkroad was shut down by the FBI in October and the agency seized $28.5 million worth of bitcoins.

“The absence of information of counterparties in such peer-to-peer anonymous/ pseudonymous systems could subject the users to unintentional breaches of anti-money laundering and combating the financing of terrorism,” the RBI statement added.
http://www.indianexpress.com/news/rb...risks/1211431/
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  #14  
Old December 30th, 2013, 11:04 AM
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Re: Is bitcoin the future of money?

It will never be.. too many risks and also government control will be at stake.

It will at best be like the IOU's given by various baniyaas in india with their rubber stamp on a piece of paper if a person declines to accept the official change these days (which happen to be assorted candys.. cadbury eclairs instead of 1 rupee, a packet of saunf or ilaichi for half a rupee, or 2 laungs i.e cloves for smaller amounts.. perk biscuit for 5 rs... 10 rs is the minimum you can get most of the days.

In veggi shops a handful of green chilli or coriender leaves are used as loose change.

I have a box full of assorted chocolates stored.. bit coins will eventually become butt coins..
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Old December 30th, 2013, 10:25 PM
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Re: Is bitcoin the future of money?

There was a similar online currency called E-Gold, which was quite popular a few years back. It fluctuated many a times daily, depending on the change in rates of gold in international market.

The site was finally nailed down by US interference, as it had become scamers hub, who would hack PP and MB accounts of people and get it exchanged in E-Gold (whose transactions, unlike Paypal are irreversible). Expect a smiler end to Bitcoin in the near future ....
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