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Thread: Understanding Bitcoins

  1. #1
    Junior Member
    Join Date
    Jul 2014
    Posts
    10

    Understanding Bitcoins

    Hey guys, I'm trying to get my head round these bitcoins. Does anyone have a good understanding of them so they can explain it to a complete idiot (me).

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  3. #2
    In very basic terms, it's a bit like having electronic cash.

    The main attraction of them so far is that, like cash, you can remain anonymous when you spend them, which means you can make an online transaction without leaving the same sort of trail that you would with a credit/debit card, paypal, etc. This makes them popular in the murkier side of the internet. Silk Road was the most publicised site if you want to read about it.

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