Bitcoin is really complex to explain and I think not one person can know which is the best way. The most all of us can do however is try each our own methods and see what sticks, eventually one or two ways of explaining it will win out. Is one of those ways how Trace explains Bitcoin? I don't think so but that's ok because it's part of the process of figuring it out.

For example I really really like his explanation on tangibility.

Well technically he isn't wrong, because they did assassinate a 16 year old without trial and they are going to be flying drones above the States so it's definitely in the realm of possible, even if the odds are still very low.

Excellent write up Mike. It's awesome to have a firm understanding of where Bitcoin as a payment system is compared to the rest of the competition, thanks!

Make no mistake - all this shit that happened is a direct consequence of the state. This is painfully obvious as soon as you agree that we don't and never can have a free market as long as there is a state. Why? Because anonymity and responsibility don't mix.

The state is the reason why so many must hide their identity, since if they want to preserve their safety, well being and wealth, this is the only way to avoid a giant mafia of thugs hurting and robbing them simply for providing a voluntary service to their customers. Were this not the case, non violent ostracization would be made possible as punishment for those service providers that violate their promises and eventually the bad apples would get weeded out. And there are many bad apples.

But being a service provider willing to defraud is not why fraud happens, largely it's still a cost benefit analysis. When your legitimate business doesn't earn you enough to live comfortably but defrauding your clientele would while not really having any negative repercussions for you, there's rarely anyone who possess enough integrity to resist such a temptation. The only thing that customers have here is the hope that the merchant isn't willing to kill his golden goose. And because there are infinite amount of reasons why someone could find it more profitable to kill the golden goose now and run with their customer's money that hope simply is not enough.

You need to know who you are dealing with, it's as simple as that. You need to know their name, their body, their home, if possible their record, their friends, what ever you can in order to significantly increase the cost of defrauding you. I think it's the only way to effectively apply regulations by customers i.e. the only way a free market can possibly function. And until there's a state for most that simply isn't an option and so I do not believe we will be able to solve this, not unless we can figure out a way to create unique IDs and still hide our identity from the government.

Actually on second thought maybe it isn't so bad that we get reminded like this whenever one of our addresses is publicly tied to us that anyone can clearly see this. Could you give an explanation how far your labeling goes, does it follow coins or is it just for original addresses tied to a label?

piuk I really appreciate your service but what I just saw really ins't cool. I realize anyone who knows how to use google can find the same info, but I still don't see a reason why you need to display it automatically:

https://blockchain.info/address/1H4sGgNSRvRuiUsbucsQBNFWhZcLnL2KW1

At least give us an option to disable this in account settings or something.

Depends on whether or not there's something there besides dirt that we could use and we can't find cheaper anywhere else.

What "sides" do you speak of? There are no sides. There are just facts and assumptions.

What you describe again does not prove anything beyond a reasonable doubt.

I don't see how this remove fungibility.. All anyone can ever do when searching the blockchain and following a certain amount of bitcoins is guess whether or not they remained in the same hands or not. I can't see how you can possibly prove beyond a shadow of a doubt that I own an address that I never publicly proclaimed I do.

Couldn't they achieve the same thing with a simple donation address. More over why bother? All you can by analyzing the blockchain is circumstantial evidence. As soon as there are a few transactions between the perpetrator and the current owner you can't possibly know if he is the perpetrator or not. You may assume so but you can't prove it.

If you do this through some intermediary and attach a finished product to a certain amount donated, I think you'll get a lot of funding!

google Zimbabwe dollar, Yougoslavian dinar, Argentinian peso, and so and so forth.

Yeah welcome from me too and just a quick question that I just thought of thinking about all this fantastic news lately of many businesses signing up with bitpay, Jeff, have you given any thought yet to managing your own Bitcoin wallet? I'm asking because, although I think what bitpay does it terrific, eventually I'd hope to see companies hold onto some of the bitcoins they get instead of instantly converting them. Any thoughts on this?

You don't need to have a website behind Tor in order to use Tor to access it and protect yourself as far as I understand it..

I believe I must have the freedom to spend my money any way I choose and that no one can have the ability to either freeze or seize it.

I believe I must have the freedom to retain uninterupted complete control over my money.

I believe I must be able to receive money without paying any fees to middlemen.

I believe once I receive my money there must not exist even a chance of fraud through a chargeback.

I believe no one can have the ability to create more money for themselves out of thin air while the rest of us have to work for it or exchange something valuable for it.

I believe in this day and age of virtually gratis & instant global communications there is no reason why I couldn't be able to send some money to anyone, anywhere, anytime in a matter of seconds and without having to pay enormous fees.

I think the equivalent expression in English would be to catch a bug, I think: "I caught the Formula-1 bug and I now want to see Vettel win."

Tell your friend that if wordpress thought it was worth their time maybe he should too.

I don't know if your list is a good idea. You giving your own opinion without any guarantees might mislead some people into trusting the individuals on your list causing them serious losses as it happened with Patrick Harnett. I think if you will vouch for others you should so so by offering an insurance. A simple list of who you think is trustworthy is at best worthless.