Bitcoin is a decentralized digital currency. It does not rely on a central server to process transactions or store funds.
Why is bitcoin appealing?
Because it cut downs the middle-man. No banks, no fee (or very negligible ones). It is also unregulated, meaning that you can buy, sell and own bitcoins regardless of your age and country.
What can it do for me and teamliquid?
Bitcoin can be a wonderful tool for gaming communities like Teamliquid. It makes it easy to donate small amounts of money to anyone. Example would be donating to your favourite streamer, tipping someone for helping you out or organizing tournaments like sc2btc.
Where can I get bitcoins?
The fastest and cheapest way is localbitcoin. If you don't want to go that route you will have to register and deposit in a currency exchange, just like stocks.
When I look at the charts the prices seem so volatile, what gives?
Recent media coverage, euro prices, cyprus crisis, finances speculators etc.. have took the prices on a real rollercoaster. It is an highly volatile and risky market. However merchants can protect themselves using services like bitpay. Users can also protect themselves by trading their bitcoin for their favourite currency on exchanges.
Since it's all virtual it's susceptible to hacking and other type of attacks. It happened once in 2011 and could happens again. Countries can also vote new laws that would change the game. I invite you to read this : Concerns
List of bitcoin related website :
I would love to see teamliquid accept bitcoin donation and accept it as a payment method in it's store. I think it's perfect because of the international user base of all ages. You can see an example of the fees you save here.
This thread is mean to be a discussion for fellow enthusiast, newbie and skeptics. I welcome any questioning and criticisms