Anyone using bitcoin?

[thechamp]

Payments can be a pain in the ass sometimes and fees too. How many are familiar with bitcoin? Have you ever used it?

 

[sullerson]

I use coinbase for my online wallet. Very easy to setup and use. The only pain is the wait for funds to clear before your coins can be ready to send.

 

[-SD-]

I use coinbase for my online wallet. Very easy to setup and use. The only pain is the wait for funds to clear before your coins can be ready to send.

how long is the wait

 

[Gio25]

The only bad thing is if your online wallet gets hacked and a theft happens, the bank or service you are using isn't obligated to replace your funds

 

[SteveSwat]

I don't use it but I know bitcoin crashed at one point in its earlier stages taking millions along with it...someone got rich...uninsured by the fdic so that's the catch22 about the government not being in control of it.

The cool thing is that it can be used in the black market to buy just about anything with no traceability.

If I did use it in only keep disposable money in it...kinda like my gear stash lol.

 

[sullerson]

The wait is usually 72 hours. If you have a credit card as a source, you can get $200 right away.

They have offline wallets, so less chance of getting hacked. I only keep money in there when I'm ready to make a purchase. I'm not investing in Bitcoin, so I won't keep anything in either wallet except a few bucks.

 

[pharmacist1]

I am accepting Bitcoin as payment. Depending on the order of course. The worse part is converting the bitcoins into cash.

 

[jackmeoff]

I wish all sources used it


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[gomad75]

Bitcoin seems like a great option for UGL stuff. It would be cool to see it gain some popularity in regards to what we do.

 

[-SD-]

Needs more convenience on some areas but its probably the future if the US goobermint can manage to keep its paws off it.

 

[MassTurk]

It eliminates the fund collectors for the source. I don't know why they have not all ventures in to it yet. The ones excepting Bitcoin and know how to wash their coins before transferring them are the ones getting more business from the tech savvy users. It saves a lot of human error that causes labs to get busted. I like it I hope more sources get up to speed with times

 

[JackSteel]

I don't trust I won't get hacked and stolen. There's no way to do anything about it if it does. Seems convenient but dangerous.


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[-SD-]

It eliminates the fund collectors for the source. I don't know why they have not all ventures in to it yet. The ones excepting Bitcoin and know how to wash their coins before transferring them are the ones getting more business from the tech savvy users. It saves a lot of human error that causes labs to get busted. I like it I hope more sources get up to speed with times

why the need to wash anything? isnt that the entire purpose of bitcoin? the anonymity?

 

[-SD-]

Im no expert on bitcoin just started looking into it

 

[sullerson]

Without washing, your coins can be traced back to you via their hash I believe. Once tumbled, they have a new hash and not tied to you or your wallet. Some of the inner workings are a real pain to understand.

 

[MassTurk]

^^^^ this is why you wash your coins if you are a source