My World..as I know it..seriously changed!

Canada
March 22, 2013 9:32am CST
Virtually changed! By "bit coins"! I virtually can NOT wrap my head around dealing in "bit coins"...a.k.a "cryto currency!" This virtual world we live in, has my poor brain over-taxed with using my imagination...NOW, my money will be virtual! I LIKE tangibles..something I can see, touch...jangle in my pocket! Today, it takes $73.00 Canadian dollars to buy ONE "bit coin," to be used in your virtual transactions. Spain, in reall financial difficulties are trading ALL of their Euro money for "bit coins!" Looks like the way of the future...and this old dog is having trouble with these new tricks! Your thoughts..please!
6 people like this
17 responses
@suni51 (1879)
22 Mar 13
Hi big sis- I think Bitcoin is going to be a very effective currency for people who want to buy, keep rules in mind to use foreign currency etc and restrictions which forbid one to use paper currency and not to talk about inflation in particular paces. although feel of real money is different but you have to go as per needs.
2 people like this
• Canada
22 Mar 13
As I said, above, my dear Little Bro, it is hard for me to imagine this world, without tangible currency, altho I know it has been evolving that way for a long time. But HOW, did I miss this one??? It's been around 4 years..gaining speed and ground with the Euro seemingly facing collapse...and countries opting out. I can't believe the changes, in my world...as I once knew it....need to have a glass of "feeling better" with you, so you can walk me thru these nuances. A bit scary!
@suni51 (1879)
22 Mar 13
I agree there is nothing like real money but I came to know about it while reading about private space programs, a couple of years back where they needed this currency to travel and arrangements. Although the article I read was different but just to give you an idea of that program, here is the link http://en.wikipedia.org/wiki/Space_tourism
1 person likes this
• Canada
22 Mar 13
Thanks for sharing the link...I can see that I have a lot of knowledge to gather, in a short period to time this weekend! And then there is replies, like "topffer's" directly below, that puts me back in quandry...as in her explanation, it becomes SO disposable..and insecure!
@much2say (36369)
• United States
23 Mar 13
Hi pergammano! Bit coins have only entered my vocabulary just now . . . ??? Identity theft comes to mind . . . can a vitual thief vitually run off with my vitual bit coins? Hopefully there is vitual security for this (though I don't know how trusting I am with this whole system - yet). Yah, I like tangibles too . . . it'd be no fun rolling around in vitual bit coins!!!
2 people like this
• Canada
24 Mar 13
Honestly, muchkin....I did not pull these virtual coins out of thin air! There is NO piggy=bank filled with "cryto currency" (shake it and hear nothing!) I don't know if this is the way of the future, and if so, it scares the living "bejezus" out of me. I learned OF IT...on the CBC News this morning, where they showed Spaniards lining up to exchange Euros for bit change...and they went one-step further, and showing a Large Ranch in Alberta, for sale for $403 thousand bit coins....DUH!!! I am totally unappraised, but some of the responders here, especially "topffer" has a GREAT handle on this "airy" money...seems to fit in the same category as selling an Igloo to move..Reefer truck or water transport! BIG HUGZ
@jenny1015 (13394)
• Philippines
23 Mar 13
There really is no stopping us from making things as small as possible for everybody's convenience. It might be a bit hard for all of us to adjust, but if this would be all that we are to expect in the future, then we just need to learn to live with it. Gone are the jingling and dangling of coins....
2 people like this
• Canada
23 Mar 13
I see your point, Jenny...but for some, it is hard, when they have lived all their lives (like me)with things that are tangible...like Money! Some of us are quite new to the virtual world...I am one, only being introduced to my first computer 6+ years ago...opening up a whole new world, to me! I think what keeps me grounded in this virtual world, is that I can still see my typing! There are many, in my community whom still do not have computers!
1 person likes this
• South Africa
23 Mar 13
This virtual world we live in is like that because everyone wants things faster and it also saves on trees and natural resources not to print big manuals out with video games anymore or to print that much actualy money. I mean even books are becoming virtual look at kindle. music became virtual long ago.
2 people like this
• Canada
23 Mar 13
From your response, I can see that you have a VERY GOOD grip on the virtual world, and find it easy to adapt! But for some-one like me, that has been around for a while...making my MONEY virtual is a little disturbing! I concur, ecologically speaking, virtual somewhat is more eco friendly (altho we tend to overlook the power sources needed for these and their contribution to pollution)....MONEY is pretty important to most folks (ranking up there almost with family and friends)...and it being virtual, is still hard to conceive! Have a great day..and thanks for your input!
1 person likes this
@AmbiePam (46445)
• United States
22 Mar 13
I think I'm dumber than I thought I was.
2 people like this
• Canada
23 Mar 13
Me, too, Ambie. Quite took me by surprise, yesterday morning..Financial news in the background/half listening. What caught my ear was them talking about a huge ranch in Alberta for sale in virtual money..Bitcoins! And then they went on to give a bit of a description in laymen's terms..and then showed the line-ups in Spain, to exchange their Euros! Even tho, I have wonderful explanations here...I am still struggling with the loss of the penny...LOL!
2 people like this
@p1kef1sh (45647)
22 Mar 13
I have never heard of Bit coins. Neither do I particularly see the point. Most transactions these days are in dollars pounds or euros. Why introduce something else?
2 people like this
• Canada
22 Mar 13
Well, p!ke, it's not new! Bobbing around cyber space since 2004, and whether we like it or not...it's here! A very good explanation is offered by "toppfer"...and the links provided are great! It looks like the Euro is losing ground, seriously! Didn't realize how much it is already "in our faces" until I saw Real Estate for Sale in "Bitcoins" here in Canada, this morning! Looks like we are going to have to "buckup" and get on board, whether we like it or not!
1 person likes this
@cynthiann (18630)
• Jamaica
22 Mar 13
What on earth is a bit coin? Help please? Is it a world currency or something? It now takes $99 J.A. dollars to buy one US dollar.
2 people like this
• Canada
22 Mar 13
A the "Bit Coin"...I truly had not heard "hide 'nor hair" of it, AT ALL, until I was listening in the background to a financial show (Canada's Budget came down yesterday) and there was a great deal of discussion about the global economy...! The, BIT COIN, apparently has been in existence since 2009, and gaining ground exponentially today..Spain trading all their Euro dollars for the Bit Coin/cryto currency...and from what I gleen, it will be global, and the way of the world! Owlwings, as usual, provides some excellent links above!
1 person likes this
@Ghajini (776)
• Philippines
22 Mar 13
This is interesting since just earlier today, I read a few stuffs regarding bit coins. It's really an interesting concept, well I read that you could mine bit coins using the processing power of your computer's cpu and preferably gpu. While other people would just buy bitcoins probably an attempt to secure their money. I really want to learn more about it but I think I am not yet ready adapt it.
2 people like this
• Canada
22 Mar 13
Felt like a "virtual" slap upside the head to me this morning...A WAKE UP CALL. Where the heck have I been (an Ostrich I guess)! I think YOU and I, and the rest of the world will NEED to learn in a hurry, this form of currency..but my mind is tumultous, right now with security..and just thinking about adapting to untangibles! Have to learn to be a real "space cadet!"
1 person likes this
@topffer (31199)
• France
22 Mar 13
When I visited accidentally a dark side of the web, I noticed that all thieves were using bitcoins. The interest of a bitcoin is that it is not a money controlled by any state, and it is completely anonymous. But the security that some people are thinking to have with this money is a complete illusion : all bitcoins transactions are using a TCP connection to port 8333. This port has generally no other use, so if a state would like to eradicate bitcoins, it would be enough to block this TCP port to make your bitcoin money worth nothing in a second. Virtual things will never replace real ones.
1 person likes this
• Canada
22 Mar 13
Dang, topffer...you have just landed a blow, that has knocked me off my computer stool again! What is going on here? Whom is in control of this "invisible exchange"....and why are the Spaniards flocking to exchange their Euro's for "cryto currence?" I am awash in questions! Your response tells me that you are VERY, VERY computer knowledgeable...whilst I am still in the neophyte state, and this scares me!
1 person likes this
@topffer (31199)
• France
22 Mar 13
They are afraid of a major Euro crisis in Spain, because of the economic situation of their country. But you cannot change easily your currency for another one, and nobody can say what currency to buy today. Bitcoin is controlled by... a mathematical algorithm, and the number of new bitcoins will increase slowly -- divided by 2 every 4 years -- until 2033 where 21 million bitcoins would have been "virtually produced" by a few servers connected together ; the new bitcoins are distributed between "bitcoin miners", people using the resources of their computers to extract this new "gold". So the bitcoin is a strong currency with no inflation possible, and, in theory, the best placement that you can do to avoid inflation and economical crisis. A bitcoin was worth 4,20 Euros on March 21st 2011, and was worth 50,78 Euros on March 21st 2013 : Spanish are not the only people to buy bitcoins actually.
1 person likes this
• Canada
22 Mar 13
WOW! A great tutorial...now I just have to absorb it all, and rationalize it! I wasn't, by any means implying the Spanish are the only one's buying bitcoins or exchanging for Euros...but the New showed them in line, for however they make the physical exchange! It's a lot to digest for a non-financial wizard, like me!
2 people like this
@allknowing (56843)
• India
23 Mar 13
After spending time reading through what the wise guys have said what I have understood is that you could transact with your normal currency and those that receive your currency may perhaps convert it to bitcoins. No one is bound by this virtual currency. Your money could go to a fund that is not circulated in the usual way as it is not included in the real currency. In other words could there be an element of converting white into black? Just a thought!
1 person likes this
@allknowing (56843)
• India
23 Mar 13
You can buy bitcoins here: http://btctrading.wordpress.com/how-to-invest-in-bitcoin/
1 person likes this
• Canada
23 Mar 13
I value your input, highly...much more than you realize! Later in the day, I got to thinking...maybe old expressions are a sign of things to come.... ~~~~A penny for your thoughts....hmmm..the penny is now distinct in Canada! ~~~~Adding "your two bits worth" to a conversation...a sign of things to come! I can make my money disappear, already, too easily...I like to keep it tangible, so I can count it, and still find it hard to believe I can pull it out of thin air! Also, I am just amazed that it has been in existence long enough, that people are trading in it...and this is the very first that I have heard of it! I really didn't think I took an Ostrich approach to life!
@allknowing (56843)
• India
23 Mar 13
You introduced me to this perga and you led me to further excavate the bits. It is not that complicated after all? Those expressions, perga are truly amazing!! If one reads the bible which I don't we will find many more such predictions.
1 person likes this
@MsTickle (25006)
• Australia
26 Mar 13
You lost me with the first two sentences. Think I'll just hide away Down Under this rock here...safe and sound in the real world. (Did I just make an oxymoron?)
1 person likes this
• Canada
27 Mar 13
As much as you may think, that I had one or two extra "tinnies" or "tubies" (is that expression still used there?)....I did NOT have an extra cup of feeling better, before I made that post! Caution; don't bury your head too far, in that beautiful Aussie sand, apparently "virtual" money is here, and it will be part of your future, if you use the internet.....and for this old dog, this is scary new tricks. There is even Real Estate for sale here in Canada...listed in "bit coins" which is part of the "cryto currency!" A way of the future, dear friend, and I guess I had better "buck up" and appraise myself...or I will be left in the virtual dirt!
2 people like this
@MsTickle (25006)
• Australia
27 Mar 13
I thought about it after I responded and it came to me that for some, this would be an obvious step forward but how silly. It's right up there with daylight saving. If it ain't broke, I say, don't fix it. The last thing we need is a new currency.
@MsTickle (25006)
• Australia
27 Mar 13
Just to add dearheart, most of my money has just been numbers in cyber space for years. I never would see my wages, just numbers in my online bank account. Shopping? Paid for with a plastic card. I have small amounts of cash around from time to time but not much. I don't think we will ever live in a cashless society. For a start, the US won't budge...they still use Imperial measures, refusing to go metric!
• China
25 Mar 13
Sorry! I can't make head nor tail of what you have talked about.Fortunately so far I haven't got into any other sites except mylot.I am alway on the ball on internet.
1 person likes this
• Canada
25 Mar 13
It's great that you are on the ball "cyberally"..but this one snuck past most of us! It is in fact, virtual money, being used/exchanged on the internet. Really, it has no relationship to myLot, but may in the future! The links provided by Owlwings, in response #1, and by topffer will help you to understand, as this type of cryto currency may be the way of the future!
• China
6 Apr 13
I don't know what the virtual money is like up to date.However I am not interested in it now .Thank you for telling me so much!
1 person likes this
@celticeagle (114519)
• Boise, Idaho
23 Mar 13
"Bit coins"? I certainly hope this isn't the way of the future. Sounds weird to me. The U.S. used to have a 20 dollar gold piece. Maybe that is sort of what they(whoever that is) is doing.
• Canada
24 Mar 13
Morning celticeagle...I got a feeling that this is going to be the way of the future! Possibly not this virtual currency...but something fashioned in this manner! The CBC News show that I was watching/listening to, showed it being exchanged for in Spain...and also REal Estate here in Canada for sale in bit coins! Many of the users here, seem appraised of what it is...Owl and topffer seem to understand...Oh Boy, the future is looming to fast, for me!
2 people like this
@celticeagle (114519)
• Boise, Idaho
25 Mar 13
Evening pergammano- I wouldn't put this past the people in the know. Virtual currency. Sounds about right. Guess I had better find out more about it. Sounds about right for Owl to know. A real book of knowledge.
1 person likes this
@kalav56 (11503)
• India
22 Mar 13
I feel so dense reading your topic.How can money be virtual? Anyhow, do not have much to contribute; just dropped in to say hullo and participate dear friend!
1 person likes this
• Canada
22 Mar 13
Knocked me OFF my computer stool..this A.M!! And to think it has been around, since 2009... I thank you, for dropping in...and adding your "two bits" worth...NOW that expression will hold true! Looks like it's the way of the future...kalav!
1 person likes this
@allknowing (56843)
• India
23 Mar 13
Atleast kala's is '2 bits' worth but mine will be 'satoshi' worth as I am denser! which as per owlwings is only one millionth of a 'bitcoin'!!!
1 person likes this
@ANTIQUELADY (36491)
• United States
24 Mar 13
I don't know one form thing about this. I just wanted to say hello, wish u a good weekend & tell u i'm sending u love & hugs.
1 person likes this
• Canada
24 Mar 13
Good morning, dearheart! Didn't know, or even hear about this 'til the news this morning! Where have I been????? My head and hands in the garden TOO much. Seems it is a form of exchange, with no legal status....but I still am having trouble understanding....as I said, old dogs and new tricks! LUV & HUGZ!
@GardenGerty (92484)
• Marion, Kansas
23 Mar 13
This is the first I have heard of it. I am not in touch with the world much lately.I would have serious problems with that as well. Now this has me wondering if you are going to have to have this currency for everything? It does not sound like it is promising for various economies at all.
1 person likes this
• Canada
23 Mar 13
Well, GG, I am baffled..really baffled, even with the great answers from the people in the KNOW here! ANd I had NOT heard of it, it's existence, 'til listening to a Financial Show, here on CBC (yesterday, A.M.). Scared the "virtual" daylights out of me....as those in Spain were willing to exchange their Euros for this "cryto currency" as they refer to it to! I am a bit wiser, with the great explanations here...but you know the old saying; " a little bit of knowledge....."! Have a great one!
1 person likes this
@AkoPinay (10962)
• Philippines
25 Aug
If you bough Bitcoin in 2013 you are rich by now n