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Can someone explain to this eldergay how Bitcoin works?

I understand that it’s digital currency. To use it, do you sign up with a service and then put money into an account?

I’m not planning on using it, I just don’t want to look like a dummy when other people talk about it.

by Anonymousreply 5October 22, 2021 4:29 PM

Go to YouTube and search for "how bitcoin works".

by Anonymousreply 1October 22, 2021 4:18 PM

It's a scam. That's all you need to know. Stay away from it. As soon as the U.S. decides to regulate it, the bottom will fall out from underneath.

by Anonymousreply 2October 22, 2021 4:19 PM

It's totally a scam, a pyramid scheme of sorts. Stay away. Stay far away.

by Anonymousreply 3October 22, 2021 4:20 PM

It's a fast changing stock, old man OP. You buy it, keep it securely, then sell it to collect the money. Just like owning a stock. The difference is a stock has more structured ownership, so you have to keep it very securely. Also, you can mine for bitcoin with enough computer power. Can't do that with stock

by Anonymousreply 4October 22, 2021 4:22 PM

Bitcoin is used by lots of crooks. they will demand ransom in bitcoin and in the past, lots of people who bought bitcoin got hacked and ended up with nothing.

by Anonymousreply 5October 22, 2021 4:29 PM
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