Bitcoin

[mahesh2k 0]

I dont know if there is any thread for this already. So i decided to post this. I have found this concept on another forum and wanted to see if anyone knew anything about it. I found that this is open source virtual currency which can be generated using your computer IDLE power or by trading with others. I have seen few services accesing bitcoins lately. The current rate for the bitcoins is somewhere 15-20 USD. This looks like a good money but it is hard to earn bitcoins as the distribution by the system is limited. Also there is no central control and no chance of money laundering. This way i think there is not much of benefit from this virtual currency. But there are some games and sites already accepting the service for bitcoin. Some sites pay using bitcoins. Some sites also allow purchase via bitcoins. Some sites offer amazon, newegg and similar other shopping site coupons and cards using bitcoins. You can think of plenty of other options for using bitcoins. Unfortunately the paid visa cards are limited and only 25$ ones are always in stock. Maybe due to legal reasons higher priced cards are not listed. So that means bitcoin is likely to have some control over the currency soon. Some points i do like about bitcoin are that in countries where paypal is not accepted. Bitcoin is solving some payment related issues in such countries. Some people even managed to purchase things from us or uk based shops using bitcoins. so overall it is not much of bad thing. But looking at it's impact on the government and the trading. It might affect the business and the things around us for sure. There is question about bitcoin servers already and soon it may get hit from government but so far there is no such action. I don't think this will have any issues at all. So what is your opinion on bitcoins ? do you think they are worth to use as long as the issue of virtual currency is hot ? or should government start policing on the web for such currencies ?

[mahesh2k 0]

Bitcoin has few exchangers which allows you to exchange bitcoins in exchange of real money via paypal, visa or debit card. You can find them in official bitcoin wiki page here. There are some vendors who offer hosting, amazon gift cards and some other online service for the bitcoins. You can get plenty of services in exchange of bicoins. Alternatively you can also buy bitcoin miner script which helps you get more bitcoins per day. There are some scripts which also lets you get bitcoins from your investment in games, forum participation and then there are some other ways to earn bitcoin. Once you found more ways to earn bitcoins it becomes easy for you to trade them for real world money or visa cards or gift cards. I have seen that most of the bitcoin vendors are quick at delivery. So you can always get it instantly for any exchange you want from these traders.
Personally i have found some of the exchangers for hosting and freelancing much better. I mean if you want to get help or need some service for your bitcoins then definitely go checkout the page in bitcoin wiki trade. This page has information of almost every possible online service which you can exchange. There are some offline service suppliers as well. For example, pizza delivery or some offline clothes or similar shop. I mean you can get almost anything that you want using bitcoins. You just need to get enough bitcoins for the stuff that you need for yourself. Paypal is pretty much getting useless here is asia so it could solve some of the issues of online currency here in asia. So for sure i'm going to give it shot if i get bitcoins source on regular period.