# Bitcoin in the north
**URL:** https://forum.hackingthemainframe.com/t/bitcoin-in-the-north/17863
**Category:** General Chat
**Created:** [October 19, 2017, 8:23pm UTC](https://forum.hackingthemainframe.com/t/bitcoin-in-the-north/17863 "2017-10-19T20:23:05Z")
**Posts on this page:** 20
**Page:** 1
### Author:  [@BitcoinGuru](https://forum.hackingthemainframe.com/u/BitcoinGuru)
#### Post date: [October 19, 2017, 8:23pm UTC](https://forum.hackingthemainframe.com/t/bitcoin-in-the-north/17863/1 "2017-10-19T20:23:05Z")
Anyone looking to purchase bitcoin or other alt coins in the north we will be installing a bitcoin atm at Cowpuccino’s in Prince Rupert. If you are interested and are in the surrounding areas we will be able to help. Message me anytime.
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### Author:  [@MiG](https://forum.hackingthemainframe.com/u/MiG)
#### Post date: [October 19, 2017, 8:23pm UTC](https://forum.hackingthemainframe.com/t/bitcoin-in-the-north/17863/2 "2017-10-19T20:23:46Z")
Will it work in the other direction? ie: can we take Canadian dollars out from bitcoin?
Will it require ID and stuff like that?
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### Author:  [@TheD](https://forum.hackingthemainframe.com/u/TheD)
#### Post date: [October 19, 2017, 8:27pm UTC](https://forum.hackingthemainframe.com/t/bitcoin-in-the-north/17863/3 "2017-10-19T20:27:06Z")
Lol Bitcoin will be more useless than the toilet paper one wipes there ass with if computer networks ever went down .
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### Author:  [@BitcoinGuru](https://forum.hackingthemainframe.com/u/BitcoinGuru)
#### Post date: [October 19, 2017, 8:39pm UTC](https://forum.hackingthemainframe.com/t/bitcoin-in-the-north/17863/4 "2017-10-19T20:39:59Z")
How is this any different from our current banking system? Bitcoin and blockchain technology is the future. Even the banks use blockchain now.
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### Author:  [@BitcoinGuru](https://forum.hackingthemainframe.com/u/BitcoinGuru)
#### Post date: [October 19, 2017, 8:42pm UTC](https://forum.hackingthemainframe.com/t/bitcoin-in-the-north/17863/5 "2017-10-19T20:42:57Z")
We are working on a 2 way feature right now but will not have it set up initially. ID will only be required on credit card purchases which will also come at a later date. We also have a fingerprint scanner so you can set up an account for easy access later.
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### Author:  [@TheD](https://forum.hackingthemainframe.com/u/TheD)
#### Post date: [October 20, 2017, 7:47pm UTC](https://forum.hackingthemainframe.com/t/bitcoin-in-the-north/17863/6 "2017-10-20T19:47:21Z")
> **[U.S. government sues over alleged bitcoin Ponzi scheme](http://money.cnn.com/2017/09/21/investing/bitcoin-ponzi-scheme/index.html)**
>
> It's the first time the U.S. Commodity Futures Trading Commission has sued over fraud involving bitcoin.
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### Author:  [@BitcoinGuru](https://forum.hackingthemainframe.com/u/BitcoinGuru)
#### Post date: [October 20, 2017, 8:25pm UTC](https://forum.hackingthemainframe.com/t/bitcoin-in-the-north/17863/7 "2017-10-20T20:25:54Z")
What does this have to do with anything? Are you going to post an article about the millions of pyramids and ponzis started with cash because it is no different. There is a misconception about bitcoin because in the past a small group of people have used it for illicit activities. I would forget bitcoin all together and think of it only as the US dollar to the cryptocurrency market. The real thing to research is blockchain. [https://m.youtube.com/watch?v=YIVAluSL9SU](https://m.youtube.com/watch?v=YIVAluSL9SU) I think if you look at the right information your mind will be opened to the possibilities.
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### Author:  [@MiG](https://forum.hackingthemainframe.com/u/MiG)
#### Post date: [October 20, 2017, 8:49pm UTC](https://forum.hackingthemainframe.com/t/bitcoin-in-the-north/17863/8 "2017-10-20T20:49:06Z")
I heard something about someone having bitcoin stolen so I’m never going to trust bitcoin.
I heard something about someone having cash stolen so I’m never going to trust cash.
I heard something about someone having their credit card stolen so I’m never going to trust credit cards.
I heard the original Ponzi scheme was done with postage stamps so I’m never going to trust postage stamps.
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### Author:  [@TheD](https://forum.hackingthemainframe.com/u/TheD)
#### Post date: [October 20, 2017, 8:53pm UTC](https://forum.hackingthemainframe.com/t/bitcoin-in-the-north/17863/9 "2017-10-20T20:53:31Z")
What is bit coin backed against ?
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### Author:  [@MiG](https://forum.hackingthemainframe.com/u/MiG)
#### Post date: [October 20, 2017, 9:05pm UTC](https://forum.hackingthemainframe.com/t/bitcoin-in-the-north/17863/10 "2017-10-20T21:05:26Z")
> [@TheD](#):
>
> What is bit coin backed against
Canadian Tire money.
What is that $20 picture of the queen backed against? What does that even mean?
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### Author:  [@BitcoinGuru](https://forum.hackingthemainframe.com/u/BitcoinGuru)
#### Post date: [October 20, 2017, 9:57pm UTC](https://forum.hackingthemainframe.com/t/bitcoin-in-the-north/17863/11 "2017-10-20T21:57:31Z")
Its backed against something called proof of work. It currently costs over $1000 usd to create 1 bitcoin. I wonder how much it costs to print a $100 bill? If you want to talk about ponzi schemes the central banks have been running one since the the civil war , it’s called paper money.
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### Author:  [@Jabber63](https://forum.hackingthemainframe.com/u/Jabber63)
#### Post date: [October 21, 2017, 4:05am UTC](https://forum.hackingthemainframe.com/t/bitcoin-in-the-north/17863/12 "2017-10-21T04:05:12Z")
all money issued by governments are backed by their governments, who backs Bitcoin? Bitcoin is like owning a stock but without any asset, business or government to back it up, it is buyer or user beware
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### Author:  [@BitcoinGuru](https://forum.hackingthemainframe.com/u/BitcoinGuru)
#### Post date: [October 21, 2017, 4:46am UTC](https://forum.hackingthemainframe.com/t/bitcoin-in-the-north/17863/13 "2017-10-21T04:46:26Z")
It is all based on intrinsic value just like 95% of the stock market. Just because a government or bank is backing doesn’t mean it’s a good thing. Governments hyper inflate and devalue currency all the time. With bitcoin no central figure is in control so there is no way of this happening hence the steady growth.
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### Author:  [@BitcoinGuru](https://forum.hackingthemainframe.com/u/BitcoinGuru)
#### Post date: [October 21, 2017, 4:47am UTC](https://forum.hackingthemainframe.com/t/bitcoin-in-the-north/17863/14 "2017-10-21T04:47:05Z")
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### Author:  [@MiG](https://forum.hackingthemainframe.com/u/MiG)
#### Post date: [October 22, 2017, 3:39pm UTC](https://forum.hackingthemainframe.com/t/bitcoin-in-the-north/17863/15 "2017-10-22T15:39:15Z")
> [@Jabber63](#):
>
> all money issued by governments are backed by their governments
Is that why my dollar is worth 30% less than it was 5 years ago?
Money is worth what someone will give you for it. That applies for bitcoin and Canadian dollars too.
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### Author:  [@hitest](https://forum.hackingthemainframe.com/u/hitest)
#### Post date: [October 22, 2017, 5:30pm UTC](https://forum.hackingthemainframe.com/t/bitcoin-in-the-north/17863/16 "2017-10-22T17:30:27Z")
> [@MiG](#):
>
> Money is worth what someone will give you for it. That applies for bitcoin and Canadian dollars too.
True. I don’t know a lot about digital currencies like bitcoin. I’m too conservative to invest in bitcoin, but, I do find this topic intriguing.
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### Author:  [@theonlyjon](https://forum.hackingthemainframe.com/u/theonlyjon)
#### Post date: [November 23, 2017, 2:46pm UTC](https://forum.hackingthemainframe.com/t/bitcoin-in-the-north/17863/17 "2017-11-23T14:46:41Z")
> [@BitcoinGuru](#):
>
> king to purchase bitcoin or other alt coins in the north we will be installing a bitcoin atm at Cowpuccino’s in Prince Rupert. If you are interested and are in the surrounding areas we will be able to help. Message me anytime.
Machine is set up now. Works great! I bought $100 Canadain of Litecoin today 🙂
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### Author:  [@MiG](https://forum.hackingthemainframe.com/u/MiG)
#### Post date: [November 23, 2017, 3:08pm UTC](https://forum.hackingthemainframe.com/t/bitcoin-in-the-north/17863/18 "2017-11-23T15:08:08Z")
Any photos? 🙂
Next time I’m in Rupert, I’ll have to check it out.
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### Author:  [@herbie\_popnecker](https://forum.hackingthemainframe.com/u/herbie_popnecker)
#### Post date: [November 25, 2017, 4:03am UTC](https://forum.hackingthemainframe.com/t/bitcoin-in-the-north/17863/19 "2017-11-25T04:03:54Z")
Northern B.C. gets its first bitcoin ATM as the value of cryptocurrency surges
> **[Northern B.C. gets its first bitcoin ATM as the value of cryptocurrency surges](http://www.cbc.ca/news/canada/british-columbia/northern-b-c-gets-its-first-bitcoin-atm-as-the-value-of-cryptocurrency-surges-1.4418371?cmp=rss)**
>
> The first bitcoin ATM north of Pemberton, B.C., has been installed in Prince Rupert as the value of the digital currency reaches record highs.
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### Author:  [@herbie\_popnecker](https://forum.hackingthemainframe.com/u/herbie_popnecker)
#### Post date: [November 26, 2017, 8:12pm UTC](https://forum.hackingthemainframe.com/t/bitcoin-in-the-north/17863/21 "2017-11-26T20:12:51Z")
Tiny End-of-the-road Village In Constant Rain Adopts Bitcoin in Attempt to Embrace Part of Real World
–Pot
(lacking even a Timmies)
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