Official saddo financial thread

[walrus]

Had a lot of fraud coming through with Bitcoin recently at work.

What is it. Bad transition or hacking @Alpha

Not sure maybe Bitcoin hacked, lots of credit card fraud appearing as Bitcoin.

Oh must be stolen credit numbers used to Bitcoin. These big retailers get hacked for millions of customers. They got Home Depot and I'm sure many others. I think that may be more blamed on the credit card hacking. The block chain, which is the software running Bitcoin is, at this point unhackable but I read quantum computing may be able to do it so it's probably a matter of time. Bitcoins weakness is the wallets used to hold them but they are not on blockchain

[Mark TKO]

Just read last few posts in this thread - I have no idea what BitCoin is....

[walrus]

https://www.google.com/amp/s/www.coi...-year-old/amp/

@Mark TKO above you will find a simplified explanation. It's a decentralized currency traded betwixt people with no central bank backing it. I'm surprised so many have not heard of it. When it started it was literally a fraction of a penny. Five dollars invested seven years ago would be worth over a million today. That's no bullshit. Currently this shit is blowing away the returns on the best stocks, mind you I've seen it go from 7,000 to 5,000 three weeks ago and today it's 9,777. Please note I'm not telling anyone or even suggesting you put money in it. I'm just saying look at it, the whole concept of currency with no central bank is an amazing thing. This has been more of a young persons thing. One theory is if the next generation does manage to bring Bitcoin into a widely excepted currency on coin could be worth 190,000. Others say it's a Ponzi scheme and will be worth nothing.

I personally don't know. The Bitcoin pros say it isn't a fiat currency but it is not backed by gold. From what I can tell the real value of Bitcoin is the confidence of people who buy it which to me is fiat. The block chain running Bitcoin is intense. Government and financial institution are adopting it as we speak IBM is one of the top business's in blockchain

[Master]

Just read last few posts in this thread - I have no idea what BitCoin is....

Fake currency that got very popular and worth a lot which is now used by the criminal fraternity to launder their ill gotten gains.

[walrus]

https://www.quora.com/In-laymans-ter...ain-Technology

Please excuse masters stupidity and beanz anti Mexican views. Above is an article on blockchain. Although master is one of the biggest idiots on here what he said does have some truth. Bitcoin was and is used on the dark web to buy narcotics and can be used to launder money. But master, the Chicago mecantile will be trading Bitcoin futures starting December. The government is collecting taxes on Bitcoin profits. People are accepting Bitcoin selling real estate, you can see this thing grow @Master