The Gold standard was eventually abandoned in 1971.
Deregulation and globalisation : 80s - 90s
Since, the banking system is baked by centralized-obese-governments which is the reason it exist.
So what 20-30 years ? Wow that's all human History !
>Lists of things having nothing to do with anarchy<->governed society debate. You realize we had governments and laws and consumer protection before 1971, right? How old r u? Money is power. A government have no power if you separate it from bank and the ability to print infinite money. A government is not necessarily a bad thing, it becomes a monster only if you give him power. No, money is money, power is power. But that's beside the point. The point is centralized governments, in one form or another, existed throughout human history. While Anarcho-capitalism remained a fiction. |
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The consumer won't even know they're using it. Gateways like Stripe, Apple Pay, Transferwise, Goldman Sachs, etc, etc will take care of that for them. The consumer will merely make payments like they always have - except at a fraction of the cost.
A fair point, but one that still relies on for-profit groups with self-serving interests. Sorry missed that you had replied. Yes it does rely. It has to rely for a time. There's no way the finance sector is going to dive head-first into the deep-end of fully p2p finance. There will be a transition period where centralised institutions act as gateways to the decentralised network. Those tech savvy enough will be the only niche complete p2pers. However, once the infrastructure becomes developed enough, we won't even need gateways. ...At that point, the for-profit gateways will politely step out of the way & utopia will ensue.  No, they will simply just not be used. Like any business that runs its course. Is that so hard to grasp? Why and how will this transition take place? Consumers have grown to trust these payment services, not Bitcoin. Yes. Again, that's why I said there will be a transition period for 15 years or so. Once more, is it really that hard to grasp? 1. Bitcoin comes along - offers borderless, frictionless, secure transactions at almost zero cost. Bitcoin's transaction costs, if Satoshi's statement that BTC price should tend toward BTC mining costs, is currently ~10% of Bitcoin's market cap. Imagine if 10% of the world's wealth was destroyed yearly on transaction costs  [snip]
QED
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Laws, regulations, and a mechanism to enforce both are "the fruits of civilized society." Voluntary free association creates civilization and all it's benefits [citation needed].
...FTFY *If you are suggesting some sort of free-form, ungoverned anarcho-capitalist society, there are no historical examples that survived for a meaningful length of time. Haha bulshit. Centralized-obese-governments are a very recent invention that is not gonna last. 99.99% of human History is without it. Yeah, if you start counting from the Big Bang. >>>/pol/ The Gold standard was eventually abandoned in 1971. Deregulation and globalisation : 80s - 90s Since, the banking system is baked by centralized-obese-governments which is the reason it exist. So what 20-30 years ? Wow that's all human History ! >Lists of things having nothing to do with anarchy<->governed society debate. You realize we had governments and laws and consumer protection before 1971, right? How old r u? |
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The consumer won't even know they're using it. Gateways like Stripe, Apple Pay, Transferwise, Goldman Sachs, etc, etc will take care of that for them. The consumer will merely make payments like they always have - except at a fraction of the cost.
A fair point, but one that still relies on for-profit groups with self-serving interests. Sorry missed that you had replied. Yes it does rely. It has to rely for a time. There's no way the finance sector is going to dive head-first into the deep-end of fully p2p finance. There will be a transition period where centralised institutions act as gateways to the decentralised network. Those tech savvy enough will be the only niche complete p2pers. However, once the infrastructure becomes developed enough, we won't even need gateways. ...At that point, the for-profit gateways will politely step out of the way & utopia will ensue. No, they will simply just not be used. Like any business that runs its course. Is that so hard to grasp? Why and how will this transition take place? Consumers have grown to trust these payment services, not Bitcoin. |
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The consumer won't even know they're using it. Gateways like Stripe, Apple Pay, Transferwise, Goldman Sachs, etc, etc will take care of that for them. The consumer will merely make payments like they always have - except at a fraction of the cost.
A fair point, but one that still relies on for-profit groups with self-serving interests. Sorry missed that you had replied. Yes it does rely. It has to rely for a time. There's no way the finance sector is going to dive head-first into the deep-end of fully p2p finance. There will be a transition period where centralised institutions act as gateways to the decentralised network. Those tech savvy enough will be the only niche complete p2pers. However, once the infrastructure becomes developed enough, we won't even need gateways. ...At that point, the for-profit gateways will politely step out of the way & utopia will ensue. |
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Laws, regulations, and a mechanism to enforce both are "the fruits of civilized society." Voluntary free association creates civilization and all it's benefits [citation needed].
...FTFY *If you are suggesting some sort of free-form, ungoverned anarcho-capitalist society, there are no historical examples that survived for a meaningful length of time. Haha bulshit. Centralized-obese-governments are a very recent invention that is not gonna last. 99.99% of human History is without it. Yeah, if you start counting from the Big Bang. >>>/pol/ |
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Laws, regulations, and a mechanism to enforce both are "the fruits of civilized society." Voluntary free association creates civilization and all it's benefits. Those benefits are so great that civilization can survive (for a short time) even under the predation of institutionalized violence. In the end, however, the parasite always grows until it destroys the host civilization. That's why.... I'm leavin'... On a blockchain, don't know if I'll be back again. Keep using the blockchain, earthling.  ~Your Beneficent Reptilian Overlords. |
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... The volume of transactions involving a disreputable seller is much smaller than the volume of transactions involving a disreputable buyer...
Because buyer protection laws. Take those away, and you'll get Bitcoin economy--choc full 0' scam. |
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Laws, regulations, and a mechanism to enforce both are "the fruits of civilized society." Voluntary free association creates civilization and all it's benefits [citation needed].
...FTFY *If you are suggesting some sort of free-form, ungoverned anarcho-capitalist society, there are no historical examples that survived for a meaningful length of time. |
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"Name and shame"? Why are so many Bitcoiners eager to throw away the fruits of civilized society and take us back to the dark ages? Very clever - you structured your post in a way that implies the people who want to out scammers to limit the damage they can do are "throwing away the fruits of civilized society" without actually lying. Not at all. Laws, regulations, and a mechanism to enforce both are "the fruits of civilized society." These do not take "naming and shaming" off the table, while significantly reducing scamming. And that's what I'm suggesting many Bitcoiners wish to throw away. @octaft: The mock-erudite, bombastic style is meant to provoke a response, but != trolling. |
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You don't get a refund because of your payment method - you get a refund because of consumer protection law.
Companies that think they can get away with not giving refunds because people have paid with bitcoin will find that what happened to Butterflylabs happens to them.
Consumer protection law is what matters here - not your payment method. Most times you want to get a refund/take something back you talk directly to the retailer and they refund you directly or give you store credit. You only go to the credit card that one time in a hundred when that doesn't work.
Simply not true, I lost money this week to a shitty merchant of a software license. I have no recourse. they have whois protection on their domain. I'm not gonna sue over $40. I did my research, domain was 18 months old, no scam reports. Welcome to bitcoin. It sucks for consumers so name and shame - and protect others from dealing with them in the future. "Name and shame"? Why are so many Bitcoiners eager to throw away the fruits of civilized society and take us back to the dark ages? |
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...
Will the Christmas season help bitcoin rise?
The price is driven by speculators trading BTC on exchanges, not by consumers using it to buy stuff. Christmas shouldn't make much of a difference. |
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Bitcoin Godzilla doesn't care.
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HONEY BADGER DIDN'T CARE
DO YOU? |
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The fucking volume on okcoin + huobi + btcchina ...
Who can someone sane believe it is not manipulated ?
How to stop this shit ?
Regulation, inferior earthling, regulation. ~Your Beneficent Reptilian Overlords. @Blue: May I suggest "glazed glare"? |
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Watup hoes? [Good morning Bitcoin enthusiasts and finance aficionados!]  |
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Ouch. Are you bulls at least learning something from all this?
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^No! Robert Paulson, why would you do that?  |
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...
I posted a link to a video that points out that maybe one should think twice before making such an accusation.
... So, tell me where I lose you: 1. You claim that I have accused someone in this thread of lunacy. 2. You suggest that I "should think twice before making such an accusation," 3. punctuating your point with a video link. 4. The people in the vid. are in no way analogous to the people in this thread, as you readily concede. 5. Begging the question: WTF is the point of the vid? |
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So let me get this right, you can more or less buy "pretend" bitcoins and short or long them, and they dont even need to exist?
If that is the case, then I am far from happy with this practice, for one, that is what Gox was doing, and second, this is nothing more than what banks are already doing.
Think about it... if you run an exchange then as long as your inflow ( deposit) + trading profits are greater than your outflow ( withdraws) then you can do the fuck you want with your db. Sorta like old bucket shops. B4 the evol regulators put them out of business. |
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