I've got a couple friends that have heard about Bitcoin and they're trying to talk me into going into "mining" with them. They're whole hog ready to do this, but they say the more people they can get together the more they can make. I understand that basic concept: a internet/cyber currency free of international borders; all though the legality and "value" of such a thing still a bit of a puzzle to me.
Far as I can tell, though you're suppose to pay for goods and services with the coins, most of the "Transactions" are in the form of trading coins and mining. So, I'm sorta of not seeing the real point? It sounds like free "money" but you really aren't able to do much with it but trade it around with out coin holders; If I'm grasping the current way things are right.
Any one on the board with experience with these things? Is it worth my time? Do you end up out of pocket in terms of real money to finance/support your coins? What is even the point to do this?