Now accepting Bitcoin payments

Reply #48

Gleno — Sat, 31 May 2014 12:35:45 GMT

5/31/14 8:35 A.M.

Thanks Todd for the BitStamp info.

Reply #47

Todd — Sat, 31 May 2014 11:10:08 GMT

There are various exchanges setup that determine price based on market demand. For example, BitStamp. Incidentally, the price shot up to $620 per Bitcoin within the past day.

Reply #46

Gleno — Sat, 31 May 2014 10:35:54 GMT

Did not know we could buy Bitcoins in smaller increments.

So folks in other parts of the world buy them using their native currencies and we pay in dollars.

Being a Digital currency, it is easier to calculate and fluctuate its value by the Bitcoin Exchange Operators.

Does Bitcoin use Fourex to calculate the different values of currencies to their medium of exchange????

This is going to be a long learning curve ...

Thanks MR.N for this lesson, it was very informative.

Reply #45

psykomo — Fri, 30 May 2014 21:00:06 GMT

Like D CHANGED ###############

U^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^WORKED ^^^^^^^^^^^^UR ASSET-OFF

Reply #44

Todd — Fri, 30 May 2014 16:08:53 GMT

It's an exciting time for Bitcoin. I really hope it continues to grow in popularity, because it is a wonderful idea that makes it easy to spend money either in person or over the Internet, and cuts out banks and other financial institutions just like paying someone in cash. The only thing holding it back are governments that want to CONTROL the money supply and their citizens. Bitcoin represents freedom and privacy.

Reply #43

Igamble — Fri, 30 May 2014 16:02:14 GMT

Thanks ! amazing that bitcoin is worth more then others right now...i know i missed the boat when one ounce of gold was 150bucks,i should invest in bitcoin asap.Yes a fedcoin is a dollar,i am mostly thinking of the gold looking 1dollar coin they issue since that is an actual coin..

Reply #42

Todd — Fri, 30 May 2014 15:46:27 GMT

The 2 most popular are Bitcoin and Litecoin. Think of them like Gold and Silver. There are dozens of others, with varying amounts of popularity and potential for any kind of success. Bitcoin is the most successful, and the one with the most potential for future success.

I'm not sure what Fedcoins are, but I assume you mean dollars . The current value of one Bitcoin is around $567. The value fluctuates, but it has been above $500 for months, and as high as $1,200 per Bitcoin last year. You can... [ More ]

Reply #41

Igamble — Fri, 30 May 2014 05:58:59 GMT

Thank you for info Chief !i checked out that site and seems that are more cryptocurrencies coming into the market..is very intersitng what exactly determines their price ! i see that site sells one bitcoin for 568 fedcoins if i remembr corectly..it used to b that you can also buy small increments of bitcoin too ..definetly soemthingto reseach when i am not decrypting the lotto games ...

Reply #40

Todd — Thu, 29 May 2014 17:47:42 GMT

An industry update for people wanting to learn more about Bitcoin and its impact. Here's the latest huge company to officially accept Bitcoin for payment:

Dish Network to Accept Bitcoin Payments for Pay-TV Service

Reply #39

JoshUK — Thu, 22 May 2014 07:39:22 GMT

Ah Todd, fellow Bitcoiner!

I've been interested in Bitcoin for a while, glad to see LotteryPost now accepting it!

I see you're using BitPay (they recently raised 30M in investments) so exciting times ahead

Reply #38

Artist77 — Wed, 21 May 2014 22:20:25 GMT

lol

Reply #37

rdgrnr — Tue, 20 May 2014 01:34:06 GMT

I always thought bitcoins were quarters.

When I was a kid my old man used to throw me a quarter and say: Here's two bits, go get me a pack o' Herbert Tareyton's.

Reply #36

Artist77 — Mon, 19 May 2014 22:57:57 GMT

Thanks. Wish I could add Ms. to my artist name though so people don't assume I am a guy.

A lot of people were onto her cut and pastes before me.

Reply #35

Drenick1 — Mon, 19 May 2014 16:55:59 GMT

Lol! no kidding. Perhaps you should change your name to Detective77 .

Reply #34

Artist77 — Sat, 17 May 2014 13:13:16 GMT

Thanks Gleno , no worries. I only wanted to clarify that she was simply doing a word for word cut and paste over and over from other sites versus others who appear to have an understanding of the issue, like Todd. I am all for idea exchange but there was no original content in what she was presenting and it did not stem from any first hand general knowledge. I think red flags occur with some of us when we see this all the time in multiple areas of knowledge. Why mislead anyone and fail to at lea... [ More ]

Reply #33

Gleno — Sat, 17 May 2014 12:34:05 GMT

Thanks Mypie for the reading source. Looks like a must read.

Reply #32

Gleno — Sat, 17 May 2014 12:31:13 GMT

Thanks Todd , Artist77, and Marilyn for the reading sources. It's good to cite our reference sources and believe Marilyn was providing an explanation to us folks out of the know on things Bitcoin . Thought we are writing or publishing facts for general knowledge and exchange of ideas. Would not be so hard in the criticism department.

Reply #31

Artist77 — Sat, 17 May 2014 11:13:25 GMT

Even her apparent questions and analysis are lifted word for word from elsewhere. This is from investopedia.com.

Reply #30

Artist77 — Sat, 17 May 2014 10:59:58 GMT

Now this is how to cite properly to other sources

Reply #29

Artist77 — Sat, 17 May 2014 10:58:46 GMT

I think 99.9% of the LP members know my plagiarism comments were referring to Marilyn only. It seems to be her thing to try to show her alleged sophistication. She does it so often and to such a high degree, I wanted to point this out.

Reply #28

duckman — Sat, 17 May 2014 04:28:20 GMT

Bitcoin is not without its risks and scandals. I've been following the Mt. Gox Bitcoin scam/scandal/hack/etc and this illustrates one problem for Bitcoin.

From the wiki:

Mt. Gox was a Bitcoin exchange based in Tokyo, Japan. It was launched in July 2010, and by 2013 was handling 70% of all Bitcoin transactions. In February 2014, the Mt. Gox company suspended trading, closed its website and exchange service, and filed for a form of bankruptcy protection from creditors called minji sais... [ More ]

Reply #27

Marilyn222 — Sat, 17 May 2014 03:24:04 GMT

Understandable. Satoshi Nakamoto is the founder of Bitcoin it was indtroduced in Jan. 3, 2009.

Reply #26

mypiemaster — Sat, 17 May 2014 02:52:08 GMT

Plagiarism is highly frowned upon. Always give credit where credit is due. When will the Chief Bottle Washer start carrying {materials}books about all these CRYPTOCURRENCIES, or does he already?

BORROW THIS ONE FOR FREE AT A*****.COM. It is very good for beginners.

Reply #25

Artist77 — Fri, 16 May 2014 23:40:34 GMT

Yes and this is a direct word for word quote from youtube and various other sites. Always more proper to give attribution or use quotation marks when you cut and paste blocks of text over and over and over (multiple ones in this thread).

Reply #24

Marilyn222 — Fri, 16 May 2014 22:44:28 GMT

Unless handled properly, otherwise.

Reply #23

Marilyn222 — Fri, 16 May 2014 22:37:37 GMT

My point is that...Bitcoin is the future currency.

Reply #22

Marilyn222 — Fri, 16 May 2014 22:35:09 GMT

True...and they cannot wash monies with it too since it is electronic.

Reply #21

Todd — Fri, 16 May 2014 22:33:27 GMT

Right. With Bitcoin counterfeit is not an issue. It's much easier to counterfeit a $100 bill. Nobody has figured out how to counterfeit a Bitcoin.

Reply #20

Marilyn222 — Fri, 16 May 2014 22:32:53 GMT

Reply #19

Marilyn222 — Fri, 16 May 2014 22:30:55 GMT

I'm talking about counterfeit. Although you can only spend it just once.

Reply #18

Todd — Fri, 16 May 2014 22:25:57 GMT

No, this is not an issue with modern crypto currencies like Bitcoin. You cannot spend amounts more than once and you cannot send the same Bitcoin to multiple people.

Reply #17

Marilyn222 — Fri, 16 May 2014 22:22:30 GMT

The mechanics behind digital currency appear complicated, but the major problem facing it is easy to understand. What would keep you from using it more than once? Assuming your digital currency was placed in your digital wallet, why couldn't you send it out to multiple people at the same time? With traditional currency there is a physical exchange, and unless you have exceptional resources that allow you to counterfeit, you can only use it once until you earn it back.

Reply #16

Gleno — Fri, 16 May 2014 22:18:34 GMT

Bitcoins are out of my league but it's great to read the news. If Todd accepts them for payment then He is obviously more in the Know, than most.

Yes, the Media has strange way of keeping financial news muzzled away from us less sophisticated folks. Just wondering what site really provides good financial info and news, and know that it does not come cheap.

Are The Financial Times Newspapers a reliable source of info for jackpot winners or is it focused for the super rich and business magna... [ More ]

Reply #15

Marilyn222 — Fri, 16 May 2014 22:12:08 GMT

There are different Bitcoins depositories in the world.

Reply #14

Marilyn222 — Fri, 16 May 2014 22:09:55 GMT

Public key encryption combines a public key and a private key. While the public key is available to anyone, the matching private key is stored securely in the digital wallet and is generally password-protected. Each Bitcoin transaction is signed by the private key of the initiating user, providing mathematical proof that it has indeed originated from the owner of the address, and preventing the transaction from being altered once it has been issued. Since the key pair is mathematically related,

Reply #13

Todd — Fri, 16 May 2014 22:04:46 GMT

There is nothing called bitcoin stock . One buys Bitcoins, not stock. The guy purchased $27 worth of Bitcoins, and it was later worth $800,000.

He didn't forget his password. He forgot that he had bought the Bitcoins a few years earlier, and when he remembered and checked it was worth a lot more.

Here's the story: http://www.theguardian.com/technology/2013/oct/29/bitcoin-forgotten-currency-norway-oslo-home

Reply #12

LottoBoner — Fri, 16 May 2014 21:44:29 GMT

Do you mean he bought $27 worth of bitcoin stock and made $800,000?

To be honest once I forget my password, I never figure it out.

Unless I wrote it down somewhere.

Reply #11

Marilyn222 — Fri, 16 May 2014 21:35:04 GMT

The value of Bitcoins were initially highly volatile during the first few years of it s inception, however during the last 6 months the currency has stabilized and has been steadily increasing in value on a daily basis.

Reply #10

Drenick1 — Fri, 16 May 2014 12:31:43 GMT

He was from Norway and cash out something like 20% to purchase a high end apartment in a very nice part of town.

Reply #9

Todd — Fri, 16 May 2014 12:08:22 GMT

That's a true story. He actually bought an apartment building.

Reply #8

rdgrnr — Fri, 16 May 2014 03:26:59 GMT

Cool.

Reply #7

mikeintexas — Fri, 16 May 2014 02:20:18 GMT

And I read a while back that Germany has officially recognized it as a financial instrument .

Hail to competing currencies , for sure! A statement I'd expect from a fellow fan of the good doctor.

Reply #6

JonnyBgood07 — Fri, 16 May 2014 01:58:09 GMT

I'm glad you said that because I was in awe when I saw Overstock have it as in option....hail to competing currencies

Reply #5

mikeintexas — Fri, 16 May 2014 01:51:44 GMT

I remember reading a story from last yr. about a guy in Norway or Finland who had bought the equiv. of $27 worth of Bitcoins back in 2009, forgot about them and then couldn't remember his password. He finally figured it out and was astounded to find that his investment was worth over $800,000 now. He's buying a home with it.

Reply #4

onlymoney — Thu, 15 May 2014 21:38:14 GMT

I doesn't have any bitcoins, just curious.

Reply #3

Todd — Thu, 15 May 2014 21:10:33 GMT

If you think so, feel free to spend your worthless bitcoins here.

I would not trust a single thing said about Bitcoins in the mainstream news media. They are truly clueless.

Reply #2

onlymoney — Thu, 15 May 2014 19:57:03 GMT

I thought I recently heard on the news that bitcoins were deemed worthless. I heard it on a radio news break about two or three weeks ago. Unless of course they made a comeback.

Reply #1

dallascowboyfan — Wed, 14 May 2014 01:49:06 GMT

Thanks Todd..

Now accepting Bitcoin payments

Todd — Tue, 13 May 2014 19:21:08 GMT

As of today, Lottery Post accepts Bitcoin payments for membership upgrades and renewals.

Like PayPal payments, using Bitcoin will instantly credit the upgrade or renewal to your account at Lottery Post.

Bitcoin is a relatively new form of electronic payment that is completely anonymous and secure, and avoids the use of banks or credit cards. Some of the more tech-savvy members of Lottery Post will probably know what it is, but people who aren't sure about it can watch the video below for a... [ More ]