Bitcoin. Virtual currency that can be converted into real money.

[Lugnut]

Did I get your attention with the 'real dough' part?
Bitcoin is a P2P program that basically is a virtual currency.
https://en.bitcoin.it/wiki/Main_Page

Bitcoin is a digital currency created in 2009 by Satoshi Nakamoto. It is also the name of the open source software designed in order to use this currency.

Bitcoin is one of the first implementations of a concept called cryptocurrency, which was first described in 1998 by Wei Dai on the cypherpunks mailing list. Building upon the notion that money is any object, or any sort of record, accepted as payment for goods and services and repayment of debts in a given country or socio-economic context, Bitcoin is designed around the idea of using cryptography to control the creation and transfer of money, rather than relying on central authorities.

There are services to turn the Bitcoins into real money, either by wire, mail, PayPal
Take your pick.

FAQ

Q. What is Bitcoin?

A. Bitcoin is a peer-to-peer currency. Peer-to-peer means that no central authority issues new money or tracks transactions. These tasks are managed collectively by the network.

Q. How does Bitcoin work?

A. Bitcoin utilises public-key cryptography. A coin contains the owner's public key. When a coin is transferred from user A to user B, A adds B’s public key to the coin, and the coin is signed using A's private key. B now owns the coin and can transfer it further. A is prevented from transferring the already spent coin to other users because a public list of all previous transactions is collectively maintained by the network. Before each transaction the coin’s validity will be checked.

No, this is not illegal.

Go on, go!

[Ad Bot]

[Lugnut]

Bump

[Jorici]

Let's give a suspicious site promising to give us money our credit card!








How do you know it's legitimacy?

[Blastdown]

I've seen someone use this before, I had no idea what it was for though.
Seems fishy.

[Kobewarrior]

I don't really trust this crap.

[Lugnut]

It does seem fishy.
The p2p part is so all the people with the client can authenticate transactions.

And Jorici, you trust it like you would any other website.
There are businesses dealing completely in bitcoins.

What the hell don't you trust?
The real money portion?

[Kobewarrior]

What the hell don't you trust?
The real money portion?

When you see sites that require you to put in credit card or whatever to get "free money" by doing so, you get the suspicious feeling.

[Lugnut]

You guys don't understand.


You don't need your credit card to use bitcoins.
That's solely if you want to make them into real cash.

[BobSevenSevens]

I'm DL'ing all the blocks for it now.

[Coolio]

Okay, so say I transfered the currency to Paypal. Could I buy Blockland with it?

[otto-san]

Okay, so say I transfered the currency to Paypal. Could I buy Blockland with it?

Probably, if this is real.

[Jorici]

You guys don't understand.


You don't need your credit card to use bitcoins.
That's solely if you want to make them into real cash.

Yes but you do for the initial transaction of buying it.

[Coolio]

Probably, if this is real.

k

[Lugnut]

Even if you don't trust the trade aspect, there are small companies that deak inhese things.


You could buy socks with them.
You could buy lattes with them.

Yes but you do for the initial transaction of buying it.

Okay, okay. STOP.
this thing is completely free, what the hell are you going on about?

[BobSevenSevens]

Yes but you do for the initial transaction of buying it.

You don't have to buy bitcoins. There are websites that give them to you for playing a game or something like that. Look at the bitcoin wiki.