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Well currently the banking system has to go through a expensive third party {Swift} to transfer money to another group of banks. The Blockchain can make this transfer easy and fast and also secure. The problem is, they do not want to use Bitcoin. They want to develop their own in-house system.
In the end, the consumer will see no benefit from this. All profits will go into the shareholders pockets.
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If you happy with the traditional banking system, you would be happy to use Circle, it’s as simple as that. They dance to the government’s tunes and adhere to all the KYC and AML regulations. If you want to pay some premium fee’s on top of normal Bitcoin use for some reason, feel free to use them. <Tax>
They are the vanilla Fiat banking system, with a Blockchain skirt.
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Can I make a suggestion for the funding? We had a project at my kid’s school, where they wanted to build a better boundary wall around the school. They got the parents involved and every household pitched in to fund a section of the wall. The school then attached a little name plate of the sponsor to the wall to give recognition to the people who funded the project.
You could do something similar, but only attach a website Url on the cube to redirect to a website with a list of the people who sponsored it.
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Do they still have control over those coins? Or was it handed back to you? The comments on some of those transactions is very funny, but it's going to get some people into trouble. I would shit myself, if I had to hand over my private keys to some government agency. I guess the best way to keep them save, is to not have them with you in your house. You could also hide it on some online sites, and disguise them within some encrypted documents.  |
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I started out using it as a currency when the price went above $500 and then it went down to $300 and I started to hodl. I tend to stop using it as a currency, when the price drop below the average level at what I bought it for.
In every sense of the word, I only use the profits between the buying and selling price, and never use more than the amount I put down to buy it. < Example – Buy $5000 worth / price increase and the profit is $500 / Spend the $500 worth, but keep the reserved amount of coins >
Do not spend any, when the selling price goes below the buying price.
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For many holding, it isn't a choice. Just not enough places to spend Bitcoins, yet. I can't wait to be able to spend them locally at more places.
It's a chicken and egg.
Why? Bitcoin rewards delayed gratification. The coffee you buy today might be worth a new TV in a year. Careful what you wish for. The $2 coffee you bought 3 weeks back, would still have cost you $2. The fact that the price of Bitcoin increased, does not change that you paid $2 for that cup of coffee. In fiat currencies, I could walk into a shop 10 years ago, with only $5 and I bought 3 x loafs of bread / 3 x bottles of Coke / 5 x bars of chocolate / 2 cartons of milk. Today you cannot do that, there is simply too many cameras everywhere. ^joke^ |
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So these people have no telephones to confirm these types of transactions? Everyone know email is the easiest platform to hack. How can they simply trust a email to transfer $2 000 0000 worth of Bitcoin? I hope a full investigation will be launched and some people will get fired for this.
Every time something like this happens, people lose faith in the technology. I will never trust a 3rd party to keep any large amount of my coins. A central organization have many weak links! and they become a easy target for hackers.
The fraudster got access to Krohn's email, allowing the fraudster to review Krohn's communications "to learn specific details about how Bitpay transacted business," according to the lawsuit. The fraudster then sent emails to Bitpay CEO Stephen Pair purporting to be from Krohn, asking Pair to transfer 1,000 bitcoins to a Bitpay customer's "wallet," which he did. So, exactly who should Stephen Pair, one of BitPay's co-founders doing grunt work on that day, fire for not doin' their job properly? Ok, Lets toss a coin... Stephen or his security team? If the insurance is not going to cover the damage, who will? His team or the customers? Someone will have to be held accountable for that. $2 000 000 does not fall out of thin air these days. They should have had better systems in place. Period! |
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I guess Gavin and Mike need to go back to their masters and beg for forgiveness for their failure with XT and come up with something the community wants. They will have a much bigger fan base, when they put something on the table with features serving the users interest.
The XT Shills needs to crawl back into the holes they came from and the divided Bitcoin community need to lick their wounds and hold hands and sing <Gumbaja> until we face the next civil war. ^hmf^
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At this moment many of the things Nick Szabo is saying, is the truth. Some people here would gladly dismiss him as being Satoshi, because it does not fit their agenda if he was Satoshi. It is true that we currently have a kind of Civil war going on. Gavin was the previous leader, and now he wants back in. Mike Hearn created the revolution to take over control from the Core guys and Gavin is supporting this.
Nick Szabo might not be Satoshi, but his views and the technology he created <Bit Gold> is the closest to what Satoshi had in mind, when he or they created Bitcoin.
We do not want another PayPal. Thanks.
The same argument can be used the other way round. Szabo is quoted Satoshi because he made his position clear and this position fits their view. Nobody here want a new paypal, then what? Well I guess we give the people a viable and working alternative to PayPal. Something not governed by a single person or a group, who will censor or ban users with lower fees and no charge backs. How does that sound? Let people decide who they want their Satoshi to be, if that gives them comfort. We do not need to steer them in a direction we want them to follow. ^hmmm^ |
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So these people have no telephones to confirm these types of transactions? Everyone know email is the easiest platform to hack. How can they simply trust a email to transfer $2 000 0000 worth of Bitcoin? I hope a full investigation will be launched and some people will get fired for this.
Every time something like this happens, people lose faith in the technology. I will never trust a 3rd party to keep any large amount of my coins. A central organization have many weak links! and they become a easy target for hackers.
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Anyone knows how to open a bank account? Well when you create a Bitcoin wallet on one of these online wallet providers, it's like registering on any other site. If you cannot do that, you should not be on the internet. I use online banking and Bitcoin is much easier than that for me.
To register for online banking, I first had to visit the bank and link all my accounts manually. They then have to authenticate you, so that you adhere to all of the KYC/AML rules and regulations.
The same principle apply when you register at Circle or Coindesk or BitPay or Blockchain.info etc. etc.
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At this moment many of the things Nick Szabo is saying, is the truth. Some people here would gladly dismiss him as being Satoshi, because it does not fit their agenda if he was Satoshi. It is true that we currently have a kind of Civil war going on. Gavin was the previous leader, and now he wants back in. Mike Hearn created the revolution to take over control from the Core guys and Gavin is supporting this.
Nick Szabo might not be Satoshi, but his views and the technology he created <Bit Gold> is the closest to what Satoshi had in mind, when he or they created Bitcoin.
We do not want another PayPal. Thanks.
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Well, during US raids on towns and cities they found pornographic books and magazines in some of the houses. < If this is only propaganda, I could not confirm > They do have internet access and what they do in the their country is there own business. The only problem I would have with this, is if they criticize other nations and then they do the same thing.  |
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Just as long as this is not another "Bitcoin Foundation" attempt where people create a leadership organization to profit from and pay CEO salaries to admin clerks. I wonder what the intention and goal will be for this Peer review?
Who will support and lead this initiative? MIT?
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Give us bigger blocks without the side shows and we will be happy. I voted for some kind of increase even though
no immediate panic is needed for now. The Core vs XT debate is over, everyone is in agreement that we need bigger block sizes no matter what will be implemented.
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Ok, I do not get it. Why would anyone want to willingly burn money? The estimation could be way off at the rate people are depositing coins to wrong addresses. They should create a website where people provide proof of coins that they "burned" by depositing it to the wrong address. I think the total amount of coins that are lost because of this would be huge. If you only take Satoshi's unused coins away, we will already be in the millions.
The thing is, proof will be difficult to verify and most people would be too ashamed to admit it, so those will be lost forever, without anyone knowing about it.
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I think he might be one of the founding father's of Bitcoin. Szabo has always been out of the limelight and people like Gavin stole the show. I respect his need for privacy, but we need people like him to come forward and speak out if things are done or planned that might damage the technology.
His contributions and his views on the matter are in my view the only one that counts for something. He has been there from the start.
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I want to say 2016 after the Halfing, because many of the miners with the expensive electricity, might not make enough profit to stay in the mining game. The thing is, there will always be some miners doing it for the pennies. As these guys leave, the difficulty will decrease and it will become more profitable to mine again, and some will come back. The whole protocol function like the flu virus. It adapts to the changes in the environment around it.
Some people might even do it, without any profit to sustain the network for their other businesses based on the Blockchain.
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The broad definition of a currency, means that Bitcoin should be adopted by a huge share of a population, either local or global and be recognized by a government. This is only partially true for Bitcoin as a currency. In time when the price are low, most people hoard the token and it takes on the characteristics of a investment vehicle.
It's the "Chameleon" of currencies.
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Most people think they are safe when they use Tor, but they do not know the two systems very well. No one knows who is hosting the exit nodes and the 20 000+ IP's being logged was news to me too. I have been suspecting that the Tor network must be a nice HoneyPot for these agencies. They do not have to listen to all the noise created on the internet. They only need to concentrate on the people using these services.  |
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