Can you survive on bit coin for 24 hours?

That wasn't the intention I was trying to address the old age question that comes up "how do we make the black community better"
This is part of the solution to me. Did you even listen to the audio? Bet you didn't. Your b.s. is showing because if this were about women empowerment and seeing women more women have greater financial stability you wouldn't hear a peep so stop trying twist this into something it's not. And I love how you conveniently overlooked my invitation to ALL long standing members (including you) for a conversation on the topic

 

I remember a story of a Brit guy who had a lot of money on Bitcoin and lost it all when he disposed his computer whose hard drive had the password. The Winkavoss Twins sold theirs so they can go on a space travel tour. Bitcoin goes up and down and the ones who got it early are rich but,the tax man would get them if they cash them.

 

There is no doubt a lot of people with boatloads of cash are into that currencey like gangsters,terrorists,and other dodgy folk. Sure it can be useful forking over $300+ for one Bitcoin. But,if you want to take that risk hope you guys make it big.

 

Ok so I wanted to address your questions by asking a few questions.
What is the internet backed by? Any particular country? Or is it a collective understanding ans desire to want to share information.
That's what digital currency is. A collective agreement to define value on our terms without the influence of a centralized entity that can and most likely will manipulate the market for its own ends at the expense of the vast majority.
Interest rates fluctuate with traditional fiat money, we've seen this for the last few years to the point where your money loses value by sitting in the bank mostly due to the fact that it can be printed and is only backed by debt. The great thing about digital currency like bitcoin is you can't just create more at will there's a fixed number helping to maintain value.
You said it would be difficult to gain wide acceptance right?
Well if you told someone twenty years ago that letters would no longer be a major form of communication or that music would be mainly electronic and there would be no more cds it would be completely unfathomable. The idea that most people would prefer digital messages and music opposed to tangible things would make no sense yet here we are. I see this being just as disruptive if not more so than the internet.

 

Thanks Tam I appreciate it
Keep this in mind in the early stages of most things it seems like a pain in the ass until it isn't. For example there was a long period of time where a car was much more of hassle than a horse because roads weren't paved and fuel wasn't easily accessible but look how much the car has impacted our lives the same can be said about the internet or even the invention of the phone. It's something to keep in mind and I really want you guys to be conscious of this.

 

Here is an article from Forbes that lists the risks of Bitcoin:

http://www.forbes.com/sites/timothylee/2013/04/03/four-reason-you-shouldnt-buy-bitcoins/

Here's another, #10-12 show the risks:

http://www.washingtonpost.com/blogs...ou-were-too-embarrassed-to-ask-about-bitcoin/

TDK, I'm not trying to cramp your style, but you're pushing this type of currency right now and I wanted to at least get out another POV on the topic.

 

I truly understand and appreciate the scrutiny as well as the reluctance. And contrary to what other posters might think I am not on here trying to solicit any accounts from you guys for three main reasons:
1. I honestly don't need it. My accounts are usually with VCs and companies looking to diversify in something they see garnering long term value. Right now its a speculation market when it comes to coins like Bitcoin and Litecoin and I in order for the average person to get a good ROI they would have to invest more than they are willing to reasonably lose. I have no interest in trying to make a buck off the desperate, I would have taken my series 7 and done that on Wall St. if that were my goal.

2. I have absolutely no interest in the majority of the people on here knowing my personal information and if I were trying to "sell" anything that would have to happen.

Book the articles you posted are legitimate concerns but greatly outdated and written by people who know very little about cryptos in general because most of those concerns can be alleviated with a quick google search.
A lot of the questions come down to how do we use it? Why should we use it? How do we keep it safe?
I know that most of the articles were about bitcoin and not the umbrella term digital/crypto currency which I know can be a little confusing but a boiled down reason for using comes down to better control and freedom over your assets. Not to mention transparency which isn't something we get with our current system. It's important to remember that bitcoin is not suppose to be a replacement for actual fiat money its another option to be used digitally.
.... I see as I'm writing this that I might be in danger of losing you in a bunch of jargon. If any of you are interested please email me at the address I provided because I think I can convey better answers with me speaking to you. Anyone who is a wwbm member is welcome to talk about this with me, I don't care about race or gender, I don't even care if you hate me I mean absolutely anyone.

I also want to point out I am doing this for free because I truly believe in the promise of digital currency and would like to see more of you get involved. Its not purely an investment vehicle its also an education on value and what money really is.