(01/01/2014 06:30 PM)Syfe Wrote:  Also theres tend to get jailtime if caught mining the stuff. Its fools gold basically

Not really.
Bitcoin just has a negative context in governments' eyes because
A. It's untraceable, and completely anonymous
B. People tend to use it for illegal things because of this

You can't get arrested just for having bitcoins, or for mining them

(01/01/2014 02:32 PM)eKusoshisut0 Wrote:  

(01/01/2014 08:33 AM)weterr123 Wrote:  What is this fake bit money stuff? Someone clue me up, in layman's terms lol

I hue'd

Isn't there a risk involved in using Bitcoins?

some users have their Bitcoins magically disappear

(01/01/2014 09:50 PM)FonFon Wrote:  Isn't there a risk involved in using Bitcoins?

some users have their Bitcoins magically disappear

Bitcoins are a one way irreversible transaction. This can be a strength and a weakness. They don't just disappear. Record of every Bitcoin associated with every address is kept (much like a public record)  in the blockchain which all computers currently hashing actively build. Coins cannot dissappear,  there will always be a record of where they came from and where they went