Bitcoin

[webenda]

I am going to spend my (imaginary) bitcoin for a Hershey bar ($1.59) at Walmart. I wonder how they are going to make change?

Guessing "they" might pay you back with imaginary change.

Unsatisfactory, I was trying to launder my bitcoin.

Of course, that is the only way it could work, with a few exceptions.
They sell bitcoins on eBay in return for money kept in PayPal computer accounts. You can transfer your PlayPal money to a bank computer (There is a $0.25 fee to withdraw money from a PayPal account.) You can then go to a bank and exchange computer money for paper money.

Or, if you are a seller and accept bitcoins into your PayPal account, you can then use the process above to acquire money that you can hold in your hand from a real bank [I think. ]

[E7]

Of course, that is the only way it could work, with a few exceptions.
They sell bitcoins on eBay in return for money kept in PayPal computer accounts. You can transfer your PlayPal money to a bank computer (There is a $0.25 fee to withdraw money from a PayPal account.) You can then go to a bank and exchange computer money for paper money.

Or, if you are a seller and accept bitcoins into your PayPal account, you can then use the process above to acquire money that you can hold in your hand from a real bank [I think. ]

I stopped selling on Ebay when they required a Paypal account or that you accepted payment by Credit Card. I do still buy, and use Paypal for purchases.

If I go back to selling on the Bay, I will open a separate bank account for receiving payments. Big IF, that!

[robert.]

You can and people do buy/sell bitcoin on ebay. Bitcoin can not be used for payment on ebay.

[Rufus T. Firefly]

If I go back to selling on the Bay, I will open a separate bank account for receiving payments. Big IF, that!

For a very long time I had my eBay and Paypal accounts linked to a credit card issued from a bank that I had closed all my accounts with - it took the bank about 6 years to figure out that I had that credit card with zero fees.

[robert.]

I don't have a credit card linked to pay pal. I can't withdraw any funds from pay pal.They don't even have my social security number. Every time i mention this i knock on wood. One day they'll change it. I tried to link a 10% donation to Alex's lemonade. eBay pay pal would not let me. you need to have a credit card linked to pay pal to donate. Pay pal wont take 10% off the top and give it out. It has to come from your credit card. Sooner or later they'll catch me.

[webenda]

You can and people do buy/sell bitcoin on ebay. Bitcoin can not be used for payment on ebay.

True, but there are ways around the "cannot" to use bitcoin for payment on eBay. EBay and PayPal have confirmed their plans to allow merchants to accept bitcoin payments through third-party processor Braintree. In September last year, PayPal already announced it would accept Bitcoin via integration with Braintree, but now it's official. Apr 16, 2015

PayPal and Coinbase Strike New Bitcoin Payout Agreement. Jun 26, 2016

On the list of 100+ companies that accept bitcoin is "PayPal / Ebay - Credit card / payment processor." December 11, 2015

This is going to be interesting when the BitCoin bubble bursts.

[E7]

A blurb from Wikipedia regarding the presumed inventor: "The public bitcoin transaction log shows that Nakamoto's known addresses contain roughly one million bitcoin. As of 28 November 2017, this is worth over $10,000,000,000."

[MurphOnMillerAve]

....This is going to be interesting when the BitCoin bubble bursts.

However, if the Bitcoin owners don't let the talker's talkin' talk them out of anything, then who will be the last-one-standing with his pockets full?
This is sooooooooooooo interesting. You guys sure know a whole lot of information, and each posting has been most edifying. I am trying to pull it all together into a cohesive perspective that I can explain to others, when asked.
Grateful for all the input, to date,
Murph (still trying to learn stuff)

[Rufus T. Firefly]

...................who will be the last-one-standing with his pockets full?

He'll be the guy with nothing at all to his name. If he has them all, then no one else wants them. If no one else wants them, then their value is zero.

[webenda]

...................who will be the last-one-standing with his pockets full?

He'll be the guy with nothing at all to his name. If he has them all, then no one else wants them. If no one else wants them, then their value is zero.

The app. has 21 million BitCoins in it. If Nakamoto has 1 million, that is only 4.761904761904762%

BitCoin opened today at 11839 USD and is 11745 USD as I post this. One million BitCoins value at the moment is 11,745,000,000 USD. If I had that many I would have been cautiously* selling them every day.

*Cautious so as not to depress the market.

Nakamoto disappeared from the scene years ago, back when the digital currency was still in its infancy, and his or her (or their) identity has never been ascertained. Theories abound, from the relatively credible (Nick Szabo, a veteran developer in the digital currency space) to the totally outlandish (Dorian Satoshi Nakamoto, a Japanese-American collector of model trains). But consensus about Satoshi's true identity has never been reached, and there's no indication Satishi will ever come forward to solve the mystery.
--Business Insider, Jun. 14, 2016, 8:12 AM
http://www.businessinsider.com/satoshi- ... ice-2016-6

[MurphOnMillerAve]

... But consensus about Satoshi's true identity has never been reached, and there's no indication Satishi will ever come forward to solve the mystery.[/i]
--Business Insider, Jun. 14, 2016, 8:12 AM
http://www.businessinsider.com/satoshi- ... ice-2016-6

I should imagine that identity will, indeed, never be revealed because if it turned out to be a sickly, dizzy nutcase-looking weakling, for example, and that appearance turned investors off, it might explode the whole shebang.

Appearance matters.
As does attitude:
Attitude may be a small thing, but it can make a big difference. ( close to a quote from Winston Churchill.)

[Rufus T. Firefly]

... But consensus about Satoshi's true identity has never been reached, and there's no indication Satishi will ever come forward to solve the mystery.[/i]
--Business Insider, Jun. 14, 2016, 8:12 AM
http://www.businessinsider.com/satoshi- ... ice-2016-6

I should imagine that identity will, indeed, never be revealed because if it turned out to be a sickly, dizzy nutcase-looking weakling, for example, and that appearance turned investors off, it might explode the whole shebang.

Some pimply-faced 45 year old living in his mother's basement...........

[Tom Dempsey]

I had inlaws in the Midwest who were absolutely convinced that that Bernie Madoff fellow would make them millions. A Ponzi scheme is just that, the big one's just take longer to fall further.

[E7]

I had inlaws in the Midwest who were absolutely convinced that that Bernie Madoff fellow would make them millions. A Ponzi scheme is just that, the big one's just take longer to fall further.

Bernie Made Off with all my $$$$$$. Whats in a name?

It's always been my contention that if these investment gurus were worth a sh*t they would be out there making money with their OWN investments, not advising John Q. Public.....of course they don't risk losing any of THEIR money by doing that!

[Rufus T. Firefly]

It's always been my contention that if these investment gurus were worth a sh*t they would be out there making money with their OWN investments, not advising John Q. Public.....

Some are, some are.....you just have to do your own research and find the right guys,