Photo: bitcointalk.com
To be honest, we’ve never heard of Bitcoins before. Supposedly, it’s a decentralized digital money that has been in use ever since 2009. There are about 11 million of them in circulation, and it’s even got its own symbol “?” or BTC.
If you spend all your time on the internet and want to see an end to centralized governments fall, Bitcoins sound like a good idea. But if you’ve ever traded currencies, the fact that this is unregulated makes it sound like a Ponzi scheme or something, which is not to say there aren’t people who would place their faith in this currency.
Somebody recently used this 21st century Monopoly money to buy a car, a very nice car in fact. This 2007 Porsche Cayman S with only 8,000 miles on the clock has been traded by a family from Texas for 300 Bitcoins. Supposedly, that’s $39,000 if you cash them in at the current BTC/USD exchange rate, but the buyer actually bough his a long time ago at a much lower price.
“If this isn't proof that Bitcoin is a legitimate currency, then I don't know what is. The buyer purchased his initial Bitcoin investment at around $4 a piece so they got an amazing deal,” said the seller in a post on Bitcointalk.com.
That makes this a $1,200 Porsche. Sounds fishier than credit default swaps!
Story via Carscoop
Somebody recently used this 21st century Monopoly money to buy a car, a very nice car in fact. This 2007 Porsche Cayman S with only 8,000 miles on the clock has been traded by a family from Texas for 300 Bitcoins. Supposedly, that’s $39,000 if you cash them in at the current BTC/USD exchange rate, but the buyer actually bough his a long time ago at a much lower price.
“If this isn't proof that Bitcoin is a legitimate currency, then I don't know what is. The buyer purchased his initial Bitcoin investment at around $4 a piece so they got an amazing deal,” said the seller in a post on Bitcointalk.com.
That makes this a $1,200 Porsche. Sounds fishier than credit default swaps!
Story via Carscoop
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