It's an unregulated currency that is also being used by the underground economy. This includes participants in the drug and other illegal trades around the world. That's not to say that it won't gain relative acceptance and expanded use, but it will be a while if and when it becomes mainstream, IMHO.
What are hobbyists and ladies alike opinions on the Bitcoin system? I've started to dabble and I am fascinated by it as I find out more...
http://www.zdnet.com/the-worlds-first-bitcoin-escort-agency-7000021209/
There's even a website called boobs for bitcoin!
Tell me your thoughts!
xo, Chanelle
http://www.businessinsider.com/220-million-sheep-marketplace-bitcoin-theft-chase-2013-12
http://www.wired.com/2014/08/isp-bitcoin-theft/
https://news.vice.com/article/over-100k-in-bitcoin-was-stolen-in-a-ridiculously-low-tech-heist
More like BUTTcoin.
Don't confuse these scam companies with Bitcoin. It's like saying stay away from the US dollar because it is used for buying and selling drugs, weapons, contraband, ransoms, etc, lol.
There are a lot of scam companies out there that like to dealing in bitcoin because it is almost impossible for the government to take back from scammers and it is easy to hide. That is the case of the first article. You can set up your own wallet, privately on your own computer or use blockchain.info, which is the most reputable online wallet.
The second article refers to a shady online drug dealing site. If you don't think drug dealers might possibly steal your money, well then, maybe you are too naive for bitcoin and dollars, lol.
The last one refers to hackers taking control of bitcoin mining pools. As an end-user of bitcoin you don't have to worry about that. It only affects the generators of bitcoin and does not make it any less secure.
Bitcoin, as a protocol is perfectly secure. It's biggest advantages are also what make it attractive to criminals and the black market, and, to be honest, under-the-radar services like escorting too. It is very useful when used legitimately too.
It's an unregulated currency that is also being used by the underground economy. This includes participants in the drug and other illegal trades around the world. That's not to say that it won't gain relative acceptance and expanded use, but it will be a while if and when it becomes mainstream, IMHO.
I've been involved with Bitcoin for a couple of years now.
I think that backpage already lets you purchase ads with Bitcoin!
The biggest advantage with Bitcoin is that it is almost completely anonymous.
If you use tor or some other anonymizing proxy to access backpage and run your bitcoins through a tumbler, it is pretty much impossible for anyone other than the CIA to guess your identity.
If if you don't use tor or a tumblr it's pretty much impossible to track the coins back to you.
The advantage for accepting bitcoins in person is there is no cash to worry about being stolen or confiscated. And there is no risk you will receive counterfeit money.
Use a reputable online wallet like blockchain.info (they have an android and iPhone app so you can send and receive using your phone) and get started...
Thanks goseph - my opinions exactly ; - ). I am all in favor of P2P technology these days. xoxo