https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Fri, 08 May 2026 04:40:14 +0000 https://boards.hellobee.com/topic/does-anyone-really-understand-bitcoins#post-1448857 Tue, 25 Feb 2014 14:57:17 +0000 pui 1448857@https://boards.hellobee.com/ <p>I know what they are. We're not invested in any though. </p> https://boards.hellobee.com/topic/does-anyone-really-understand-bitcoins#post-1448853 Tue, 25 Feb 2014 14:55:35 +0000 LBee 1448853@https://boards.hellobee.com/ <p>@MamaMoose: walled you! probably more information than you want. </p> https://boards.hellobee.com/topic/does-anyone-really-understand-bitcoins#post-1448381 Tue, 25 Feb 2014 12:54:42 +0000 mrsjyw 1448381@https://boards.hellobee.com/ <p>...FIL is obsessed. I don't get it. </p> https://boards.hellobee.com/topic/does-anyone-really-understand-bitcoins#post-1448367 Tue, 25 Feb 2014 12:51:29 +0000 pregnantbee 1448367@https://boards.hellobee.com/ <p>My husband is mining them....but I still don't truly understand them. </p> https://boards.hellobee.com/topic/does-anyone-really-understand-bitcoins#post-1448329 Tue, 25 Feb 2014 12:42:10 +0000 artsyfartsy 1448329@https://boards.hellobee.com/ <p>No not at all! </p> https://boards.hellobee.com/topic/does-anyone-really-understand-bitcoins#post-1448279 Tue, 25 Feb 2014 12:33:55 +0000 sarac 1448279@https://boards.hellobee.com/ <p>Investing directly in bitcoins would be a terrible idea, seeing as how volatile they are. If anything, invest in a computer to mine them yourself. My husband mines dogecoins, which are similar, because it doesn't cost anything so why not.</p> <p>There are actually a few places in town here to physically spend bitcoins, which is kind of fun. But an overall terrible investment. </p> https://boards.hellobee.com/topic/does-anyone-really-understand-bitcoins#post-1447861 Tue, 25 Feb 2014 10:15:09 +0000 MamaMoose 1447861@https://boards.hellobee.com/ <p>@BakerBee: I'd love it! I'm a financial advisor and I haven't been asked about it yet but I want to get a deeper understanding in case I do! </p> https://boards.hellobee.com/topic/does-anyone-really-understand-bitcoins#post-1447806 Tue, 25 Feb 2014 09:58:09 +0000 ShootingStar 1447806@https://boards.hellobee.com/ <p>I understand that bitcoins are a type of virtual currency. But the concept of virtual currency and how it's feasible in the long run or why people would use it is just beyond me. </p> https://boards.hellobee.com/topic/does-anyone-really-understand-bitcoins#post-1447786 Tue, 25 Feb 2014 09:51:44 +0000 Mae 1447786@https://boards.hellobee.com/ <p>lol my husband does. He is always trying to explain and I am always trying to explain to him that 1) I don't get it and 2) I don't need to. </p> https://boards.hellobee.com/topic/does-anyone-really-understand-bitcoins#post-1447783 Tue, 25 Feb 2014 09:50:51 +0000 LBee 1447783@https://boards.hellobee.com/ <p>If you are interested, I can wall you a a one-page whitepaper I typed up for a client, @MamaMoose. I'm a financial planner, so I get asked about everything under the sun finance-wise. </p> https://boards.hellobee.com/topic/does-anyone-really-understand-bitcoins#post-1447780 Tue, 25 Feb 2014 09:49:12 +0000 loveisstrange 1447780@https://boards.hellobee.com/ <p>@MamaMoose: The "mining" of bitcoins is value in exchange for the computing/energy it takes to create them, I believe. The monetary value comes from merchants agreeing to accept them as currency and it's speculated on much like a "real" currency. When it went up in value so much, that was due to speculation. </p> <p>At least, I think that's sort of the idea behind it. lol. I could be wrong. </p> https://boards.hellobee.com/topic/does-anyone-really-understand-bitcoins#post-1447766 Tue, 25 Feb 2014 09:46:13 +0000 MamaMoose 1447766@https://boards.hellobee.com/ <p>@thismustbetheplace: Tell your hubs that holding off may have been the right decision after all: <a href="http://www.marketwatch.com/story/mt-gox-bitcoin-site-disappears-2014-02-25" rel="nofollow">http://www.marketwatch.com/story/mt-gox-bitcoin-site-disappears-2014-02-25</a> </p> https://boards.hellobee.com/topic/does-anyone-really-understand-bitcoins#post-1447719 Tue, 25 Feb 2014 09:36:54 +0000 thismustbetheplace 1447719@https://boards.hellobee.com/ <p>@loveisstrange: I'm glad I refreshed this page before submitting my silly over-complicated explanation. That summary is perfect and much easier to understand!! </p> <p>DH is very interested in the idea of bitcoins, he checks the rates many times a day and understands it much better than I do. We haven't invested in any but when the rate went up to over 1000 we were kicking ourselves for not jumping in sooner. It's still so volitile though it makes me nervous to invest in something so... theoretical/not-tangible. Especially when we are scraping by as it is. Maybe someday! </p> https://boards.hellobee.com/topic/does-anyone-really-understand-bitcoins#post-1447697 Tue, 25 Feb 2014 09:29:41 +0000 MamaMoose 1447697@https://boards.hellobee.com/ <p>@loveisstrange: I read that article actually. I'm just confused by the idea that they are "created" by solving problems. It seems like they can be exchanged for actual currency, so the fact that they can be created by anything other than a mint is weird. Plus, with no FDIC insurance I would never want to "invest" in bitcoins. There's a big story this morning about a bitcoin website that just suddenly disappeared overnight so everyone lost their bitcoins. </p> https://boards.hellobee.com/topic/does-anyone-really-understand-bitcoins#post-1447669 Tue, 25 Feb 2014 09:20:35 +0000 loveisstrange 1447669@https://boards.hellobee.com/ <p>Here's a pretty good explanation</p> <p><a href="http://money.cnn.com/infographic/technology/what-is-bitcoin/" rel="nofollow">http://money.cnn.com/infographic/technology/what-is-bitcoin/</a></p> <p>It's not super complex, to be honest. I think a lot of people are just now becoming familiar with it, though. It's been the common currency on the "dark web" for a few years now due to it's anonymous and secure format. </p> https://boards.hellobee.com/topic/does-anyone-really-understand-bitcoins#post-1447645 Tue, 25 Feb 2014 09:09:48 +0000 MamaMoose 1447645@https://boards.hellobee.com/ <p>Please enlighten me! I'm looking at you @MrBee: </p>