Any BitCoin users?

[cmitch]

Bit coin is a virtual currency that made it's debut in 06 or 07 and has swelled to a currency worth of 750 million U.S. dollars. Not huge, in comparison, but gaining in popularity. Persons who 'invested' in bit coin have seen about a 40% return. It's hyped because of the Cyprus currency break down and the fact it isn't tied to any particular government, so, according to the article I read about it, Bit coin isn't subject to the volatilities of the currency market, which is why I would be scared of it. My biggest question: What or Who stands behind it if something goes sour? Now, it would be great if a large investment firm bought gold and then sold bit coin and it was backed up by the gold.

[markem]

BitCoin is a logical derivation from digital cash, original concept by David Chaum. The principle feature is that it cannot be traced (not actually mathematically proven yet for bitcoin, I don't think). As far as a currency goes, it seems to be gaining momentum. The main problem that I haven't seen adequately address is how to get your money back out. If you buy a product with them, that is one way to get money back. Of course, if you get a refund, it will be in bitcoins as well.

I think that all the little extra bitcoins that one has in their account will rapidly become like the foreign currency brought back from vacation. Put on a shelf and quickly forgotten.

It is quite likely to catch on in Euro countries except probably Great Britain and maybe Germany since if you buy at the right time, you can avoid certain currency fluxuations as long as you are flexible on the spending side.

If you can buy just enough to make the purchase and no more, then it is probably worth the effort. Dunno right now on the best ways to go about buying the bitcoins.