Bitcoin

[shootnstarz]

Anybody heard of this? Apparently it is virtual money, with no issuing bank or government. From what I understand there are 20 million "shares", never will there be any more. The value started out around $2 a share but now is over $25. I'm not sure I understand all I know about it but will continue to research it.

Here's some info, I'll read through it when I have time: http://bitcoin.org/en/

Rick

 

[aknavy]

It is virtual, it's created by calculating a very complicated mathematical hash that takes a long time to create, so there is a limited supply. There will be a limited amount created in the future, but due to the length of time to "mine" them it won't be much. I've researched it a little, but am hesitant due to the fact that it relies on the internet. In a total economic collapse, I don't think the internet will be all that available, so I'd rather have something tangible. Right now gold and silver are good, but as we've seen lately guns and ammo are good too....and without them, you won't be able to keep anything else of value. If I didn't think there was a possibility of total economic collapse I'd be in on it, but for now I'll stay with tangible assets.