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BITCOIN- Future Gaming Currency?

What is a Bitcoin and what does it have to with the gaming industry? Well it appears Bitcoin is making it's way into a variety of gaming venues to include game purchases, in game purchases, and gaming components. Will Bitcoin become a mainstream currency in the gaming industry by 2015?

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fendernow1684d ago (Edited 1684d ago )

First up, Bitcoin is crashing. It went from the mid 900s now to mid 500s in just days.

http://bitcoinwisdom.com/ma...

The Bitcoin currency is a scam started by a so called 'anonymous asian' guy that hopes to continue to reap the new suckers in with his ponzi scheme. While I am not the biggest fan of our current monetary system, this Bitcoin is a total joke in comparison.

What is it backed by? Hope? Digits? LOL.

Second of all, the major currencies around the world won't put up with this hoaxter currency. YOu think the elite banksters are going to allow this competing currency to go on. Countries around the world are saying bye-bye to this.

Not only that, but you have to stomach ups and downs of this stupid currency.

360ICE1684d ago (Edited 1684d ago )

It's actually backed by computer power, as the "printing" or mining is tied to the solving of algorithms. Bitcoin went down when the silk road market was closed, but has except for that gone predominantly way up. As you say, it's extremely volatile, seeing how it's kind of a fad at the time being, so it's not a great place to put your money as of yet.

It's not necessarily a great place to put your money, but it's not really a Ponzi-scheme either.

In regards to the article, I think they could have explored the subject better.

adorie1684d ago

Bit Coin usually drops when ever some type of establishment, usually major, reject or ban the currency(lookin at joo China). I've seen it bounce back, and that's when someone new announces they will accept bitcoins, such as Zynga or maybe how about Microsoft's subtle nod to the virtual currency? By adding a btc conversion tool to Bing.

Testfire1684d ago

BC is too volatile to ever be a widely used currency. Vendors need stability in a currency, not fluctuations of hundreds of dollars.
It's not a ponzi scheme but BC can be manipulated by a big investor. The only way to make BC a legitimate currency is to regulate it, which defeats the purpose of it.
It's one of those things we all wish we could have gotten in on at the beginning, but right now it's to risky.

Jdoki1684d ago (Edited 1684d ago )

Whilst I don't agree with all aspects of Bitcoin, the vitriol in your comments did amuse me.

I think you may want to do a little more research before claiming it's a Ponzi scheme fronted by an 'anonymous asian'; or that that the currency is crashing. There have been some massive fluctuations, true, but stability is going to take a long time.

I'm sure the people who lost their homes in the aftermath of the 2008 banking crisis are also wondering what traditional currency is backed by! Hope? Digits? Lets not forget that entire countries went bankrupt and we are all still feeling the fallout of what happens when you trust people with traditional currencies. - In other words the house of cards that makes up the bank bone of our existing currencies and financial systems is no more stable than that of Bitcoin.

I agree that Governments (not currencies or banksters - whatever they are) will likely make it hard for Bitcoin to establish itself. But that will be done through squeezing it using existing and new banking legislation - and they will have to go after the exchanges, not the currency itself - and that will very hard and probably require a lot of the merchants who accept Bitcoins to play along.

Tiqila1684d ago

backed by hope! lol! backed by people, you should read something about it first or if you dont like reading, watch a video tutorial.

Bitcoin is a scam? how's that? you are not forced to buy them and you dont loose your money when you sell them right. Its much like trading with stocks.

WeedyOne1684d ago

Many large online retailers already accept bitcoins. Examples being tiger direct, overstock.com. Newegg is also considering them.

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