Bitcoin ?

[dyresand]

I started a thread like this a while back asking about the same topic and I'm still not much clearer about it.

I mean some of it is straight forward but I still don't get the bitcoin mining process, what value is the mining providing in order to gain bitcoin?

Bitcoin mining is like digital record keeping and that's as simplified as i can get really.

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The concept of cryptocurrency is great and I support it but personally I'm gonna wait for things to stabilize a bit

Yea and that is the rub considering hacking worldwide. While physical paper and coin are tracked by banks, they have far more stability. And you have paperwork and bank insurance too. While online technology has helped, just like your physical house, you cant live in a virtual house. At some point representation still gets physical.

I don't trust it, seems like virtual gambling, and from what I see from Wall Street outside this idea, right now, I think it is playing with fire.

Unlike with the dollar or coins bitcoins as well as any cryptocurrency, in general, it cannot be counterfeited. I mean looking at bitcoins current value... at 10k+
I'm really shaky on whether or not it will stay stable at this point due to its rapid growth.