Bitcoin:A New Way To Pay

On 04/03/2013 at 06:38 PM by smartcelt

BitCoin is a decentralized digital currency. It was introduced by a developer named Satoshi Nakamoto back in 2009. With Bitcoin there is no central bank to deal with. It relies on an Internet-based peer-to-peer network. It is the most widely used alternative currency.

In March of 2013 it was reported that the monetary base of Bitcoin is valued at over 1 billion dollars[US]. In October of 2012 Bitcoin reached the mark of having over 1,000 merchants who accept it for payment. The US Treasury Department does not recognize Bitcoin as legal tender. It is considered to be "virtual currency",whatever the hell that means! This sort of stuff is cool in a way,but has me worried at the same time. I have real issues with paying for stuff online and having to give out my banking information to do so. Many others see Bitcoin as the solution to that problem. I like using redeemable cards for my gaming purchases. Most of the time that's easy to do and works very smoothly.

I just hope that they are secure in what they are doing. The event I always remember when I think about using my bank info online is the time PSN was hacked. It happened twice if you remember. Real people lost real money from their bank accounts in that disaster. If Bitcoin is a way around all that I'm all for it. Our monetary system is so screwed up maybe it's time someone started thinking outside of the box. Perhaps a new way is needed. Banks will fight it with every bit of strength they have in those money grubbing hands. A blow to the status quo is not real popular on Wall Street either. Remains to be seen if this becomes widely used in the US. But it is gaining ground internationally. Have any of you ever used Bitcoin? Do you trust it?

The other thing I wanted to talk about is the deal I found yesterday. I found Kingdom Hearts 2 for 15 bucks! In perfect condition,too. Had the manual and the disk was flawless. I can't believe I've never played this one. Had the first and really enjoyed it. Disney and Final Fantasy characters together? What's not to like about that? Plays like a dream...literally.

It just so happened they had the limited edition strategy guide for 10 bucks. It's the big one with the art book inside as well. Has these sheets of tiny little stickers with character faces on them. Still trying to figure out the deal with that! 25 bucks for the whole deal. Picked up a strategy guide for Dishonored for 5 bucks to make it an even 30. Good day of shopping!

What I'm listening to today..............

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GrayHaired

04/03/2013 at 07:04 PM

Kingdom Hearts: Im not an RPG fan but I remember Kay-B toys had it for sale and they had a soundtrack playing all the time while I was in the store...that was some really beautiful music. I love strategy guides...I try to collect them. Im buying MGS Revengence guide even if I dont buy the game.

smartcelt

04/03/2013 at 10:24 PM

I'm looking forward to the music. I've heard good things about it. I'm definitely getting that guide for Revengeance. It has some superb art inside.

Cary Woodham

04/03/2013 at 07:29 PM

I've never heard of Bitcoin but I like that little penguin.

04/03/2013 at 10:25 PM

He is a cute little fellow!

Chunopo

04/03/2013 at 07:34 PM

Bit coin seems like the 'numbers' you see on your ATM balance screen. Apparently I have a few thousand dollars in my bank but I'm not allowed to withdraw it all immediately, there was also a fiasco in England with pensions a few years ago, Gordon Brown raped the funds of thousands of people, people who thought they were going to get a nice figure sold short by up to £200,000 and no one was prosecuted! As far as I see it most money is virtual!

04/03/2013 at 10:29 PM

They do some pretty underhanded stuff in the UK government. I'll just bet that's where our politicians get some of their best ideas on how to screw us!

Super Step Contributing Writer

04/03/2013 at 08:18 PM

With Chunopo on this one, money online at all is more or less "virtual," as are most white collar crime laws. It really is disgusting.

How does one earn Bitcoins, anyway? I assume you have to purchase them with other, legally recognized tender? It's certainly an interesting concept, I think, and I'd love to have my transactions be simply peer-to-peer, though banks also serve the purpose of storing one's money, which I like having virtual access to, and if they become a mainstream currency, wouldn't Bitcoin essentially need to become a virtual bank, assuming that service would still be provided? I think I might want to look more into this.

I also played Kingdom Hearts, and loved it, and was so relieved it was an action RPG! Got up to the Tarzan level with a rental. Never played 2, I don't think, maybe I did, hmmm... either way, awesome deal!

Stones are hit and miss for me, but when they hit, they hit hard, and they've composed some of my all-time favorites. At first I wasn't digging the one you posted, but it grew on me as it went on.Wasn't aware they had a Live in Texas DVD. Found my Linkin Park one Spring cleaning.

LOVED the Rush! I really need to listen to them more, I especially liked the bass, and I don't always have the patience to listen to rock instrumentals all the way through, but I did for that one! Glad they finally got inducted into the Rock Hall of Fame!

04/03/2013 at 09:19 PM

I think you do use real cash to buy Bitcoins. It's pretty complex and hard for me to understand. Mainly because it's international and you have currency rates to consider. They talk about how Bitcoins are "created" and "minted" as if it were real money. Think I will stick to cash until I figure it out. I like the fact that so many worlds are in the Kingdom Hearts game. Should keep it interesting. I have seen The Rolling Stones live a couple of times. Once was at the LA Coliseum with Guns And Roses opening up. Eric Clapton showed up and did two songs with them. Unforgettable night. The Rush song I picked because it is my favorite instrumental they do. Never realized how important that one is to people til I saw that documentary they put out recently.

Coolsetzer

Staying far away from online currency. But anyway, I had a pretty good collection of strategy guides before my ex wife's cat pissed all over them. I saved what I could.

04/03/2013 at 10:36 PM

That same thing almost happened to me! Stupid cat we took in went into heat. Before we could get the cat into the vet to be spayed much spraying went on. Almost hit my strategy guides! I hate when cats do that crap. Might as well burn stuff,you will never get that stink out.

Serraxor

04/03/2013 at 10:40 PM

My ultimate Strategy guide pickup was the Prima Valkyrie Profile guide for a tenner. That thing is still mad expensive, from what I understand, though down from its peak of $100.

goaztecs

04/04/2013 at 11:54 AM

I've never tried Bitcoin, it always sounded fishy to me, but I do like the overall concept of it. If/when more stores start using it, it'll become more mainstream, but as of right now, I'd rather use giftcards online.

As for the guide, nice pickup. Sounds like a steal if everything that came with it is still in near perfect shape.

PixlBit