Bit Coins

[mikey4444]

I am not sure exactly what bit coins are ?

This current world-wide software fraud has raised about £23,000 in bit coins. But if this is only virtual money, how is converted into real money ?

[-Talbot-]

https://cex.io/

[woofgang]

well that’s where to buy and sell them but what ARE they?

[Mamyalynne]

I have no idea either.

https://en.wikipedia.org/wiki/Bitcoin

[baza]

Do we have a computer person who can explain in simple terms what they are.

[ToraToraTora]

it's isn't, "real" money isn't even real anymore!

[Captain2]

I have heard of them (someone used to post about them on here) but don't really know what they 'do'
Wish I'd bought a couple of dollars worth when they came out though

http://www.coindesk.com/price/

[Flonska]

This link might also provide some information:-

http://www.investopedia.com/terms/b/bitcoin.asp

[fiction-factory]

My understanding of bitcoins is very limited but I think part of the answer to your question, mikey, is that (see Wikipedia article) some merchants such as Paypal, Expedia and Microsoft do accept them

[mikey4444]

For this fraud to be successful, these bit coins will need to be converted into real money at some time.

[ToraToraTora]

thing is mikey they are a changeable currency, they'll have no problem.

[sunny-dave]

This might be the point at which real governments who have been inconvenience by this hack (which, like all others, is only profitable because of these artificial cryptocurrencies) gather their collective nerve and declare bitcoins and their nefarious siblings to be 'non-negotiable' for real money.

The whole vile, crime facilitating, farrago could be stopped if the collective will exists.