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To ask the question again - what stops defaults from happening in this wonderful world?
If the answer is "trust" them I'm out.
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Thanks. At least that one has a bit of information. Ignoring the erroneous first page, I have no idea what this has to do with Bitcoin. He wants to use call options priced in ETF shares as money? I have good news for him, he can use Ripple for that. I had the same thought. Only problem is ripple has a hard limit and doesnt have a mechanism to create new credits. Unless they update the code. |
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Wait for the blockchain to fork again.
Then there will be a crash.
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As is pretty obvious, I live in Toronto, Ontario. When I checked the weather this morning, it was -23c with a windchill of -35c.
I used to live in Toronto. Then I moved to Australia. 36c today  |
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We here have a very rare (for a random public individual) chance to front run the Street.
+1 Whatever you do realise this point. And then decide whether or not you want to sell your coins to these new, big, ugly sharks who are starting to circle. There's never been a better time to hodl in my opinion! I don't disagree but why would a whale telegraph their intentions. It doesn't make sense. Why encourage front running? |
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If it is elastic who decides to issue more?
The "borrower"? If so, what stops me from borrowing the moon?
No not the borrower the producer Presumably the producer is the creator of the micro currency? Ok what stops the producer from borrowing the moon and then defaulting / never producing? |
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If it is elastic who decides to issue more?
The "borrower"? If so, what stops me from borrowing the moon?
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Can you summarise? I am not very patient with long YouTube videos and gave up.
The only point I got was something about self issued debt. Not sure why anyone would agree to sell me a car on this basis.
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Awesome. Link of the day.
I hope there are more coins created than there are bad memes. All the alt coin exchanges can drown.
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Need to withdraw diminishes as the network expands; the IOU becomes a functional placeholder for the currency. Depending on the currency, withdrawal from the gateway could be rapid---and potentially instant if banks begin to act as gateway services.
No they don't. We have already determined that you won't get IOUs from anyone you do not extend a trust line to. Therefore the IOUs are not generally tradeable. If you guys don't understand the system then ... |
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If you are selling local bitcoins for profit and you facilitate money laundering then yes you could have a serious problem.
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The bitdollar.
(We need to plan ahead).
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I am a small 'l' liberal. That doesn't mean I am not concerned about 'bail in' and what happened in Cypress.
Don't confuse a desire to help out poor people even if it means higher taxes (I earn enough to make a contribution to others) with a tolerance for bad governance.
For me bitcoins are part of a diversified portfolio. I don't believe it will replace fiat but I have no intention of being caught out if it does (I have been wrong before).
More importantly, technology is politically agnostic. It may have come from the crypto anarchist movement but I think we all recognise that this is potentially bigger than what has traditionally been a very small subset of society. (I had never heard of crypto anarchy until I learn about Bitcoin).
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I've been waiting awhile for the Winkelvii to get to market.
Fortress' owner owns Bitcoins. He's just talking it up.
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I'm fond of saying that Ripple is like Bitcoin for people who don't want to topple the government. If I'm still using dollars and euros in 10 years, I'd prefer to do it in Ripple. The feds should feel free to guarantee my Citibank IOUs, as they already do.
IOUs have to be paid. I'd rather trade with what I have so I know exactly where I stand. A person/institution can do a lot of trading through Ripple with NO financial investment, just trust. I don't agree with this principle. I still believe that if a large financial institution defaults then a lot of ordinary users will have their balances raided, just like what's going on now with QE. Institutions fail, people pay. So how do you trade BTC for USD? When you trade it's a one off it's not a come back and take my money any time you like Mt Gox. |
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FIG is forming a Bitcoin MegaFund larger than SecondMarket
I'll believe it when I see it. |
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Why does Ripple force me to manually reduce my trust with Bitstamp to zero after a transaction. Why isn't this automatic?
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