Have a question about bitcoin:

[allegorical oracle]

While reading a news story a few minutes ago, a pop-up on my screen showed this:

$96,866.83
24H change • as of 12/10/2024, 04:52 PM
‎-39.04 (‎-0.04%)

That was followed by the per-share of some other stocks. So bitcoin is selling for $96,866.83 per share? WHO except the most wealthy can buy shares?? How can that ever work for the average person?

[live love laugh]

1. Partial shares can be purchased

[Silent Type]

5. Think you are right. Buy 10 cents worth and hope it turns into a million bucks. The best I can understand, bit coin

is just a hedge against destruction of society so the rich can trade among themselves. I need to study on it, I guess.

[live love laugh]

9. Lots of books on it. Crypto has some advantages but

the underlying “value” is not clear.

While bitcoin has risen from $60k to 100k in the last five years but it’s probably never going to rise like it did initially from pennies literally to $30k +.

If somebody bought just $1 of BC when it first came out they would be multimillionaires or even billionaires.

[allegorical oracle]

10. So presume the new fortune is electronically deposited in my checking account? Only

asking questions about this because TSF is talking about insinuating BC into our economy. And it seems scary.

[live love laugh]

12. The storage is a problem. I don't think it can be deposited into traditional bank accounts.

Only if it’s converted to dollars can it be deposited. In its original form it is stored in digital wallets which can be “lost” or stolen. I read some who own bitcoin fortunes spend time hiding their wallets in mountains and remote areas.

The use of it in government is scary. It’s just not ready for prime time yet.

[allegorical oracle]

13. How do you store an invisible fortune in an invisible wallet anywhere? Too Zen.

[Voltaire2]

2. It isn't a 'share' it is a 'coin', a virtual coin.

and you can buy and sell fractions of coins.

[Blues Heron]

3. You don't have to buy a whole one

[allegorical oracle]

4. Oooh. Thanks for that education. So I would get an electronic certificate saying that I own,

say, 50/96,833ths of bitcoin?

[NewHendoLib]

6. I've tried to figure it out many times

I've got an Ivy League science PhD

It looks like all verbal gobbledegook to me

I won't dabble with that which I don't understand.

Like an earlier post today said - it's like the Tulip fad. This too shall (hopefully) pass

[Lovie777]

7. We into a liquor store today....

They have a bitcoin machine.

[allegorical oracle]

8. Think I'd have to have a few slugs on the spot to buy into this gambit. Have a "thing"

about liking to hold what I buy in my hands.

[hunter]

11. If anyone offered to pay me in bitcoin I'd tell them to go to hell.

I've heard it's a serious currency there.

[mackdaddy]

14. Missed it by that much.

Back in 2011 I was listening to some internet radio shows and they were talking about Bitcoin. I had a small online business and thought it would be interesting to also take bitcoin as a payment method.

I was going to buy about $400 dollars worth but it turned out to be complicated as you had to sign up for a 'wallet' account overseas. Also the bitcoin went from 2 to 4 dollars and seems shady.

If I had actually bought and hung onto that $400 worth it would now be 'valued' at about 20million dollars. Oh well.

[Disaffected]

15. Out of curiosity, I travelled to bitcoin.com

and signed up. Tried to make a small purchase ($20 US worth was the smallest purchase the app would allow i.e. a v small fraction of one Bitcoin) but I backed out when they asked for my debit card # (no way I was providing that - I thought you could pay & receive funds via PayPal but maybe not).).

[Blue_Roses]

16. We need someone here

on DU that knows bitcoin to start a bitcoin 101 class for those of us who are interested in trying to understand it. It would have to be someone who is patient.