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Let's imagine the Greece situation and if they would have bitcoin as nation currency, may the banks bankrupt ?
It would certainly mitigate the risk and loss of people's assets which would be spread across two platforms (euro and bitcoin in this case; or Hong Kong dollars and bitcoin like in a previous example). |
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Looking forward to seeing what it has to offer but I will stick to trial and tested bitcoin for the time being!
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Thankfully there are many more options other than the USA to do trade.
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Crypto currency for a domestic government, I dont see really how it can work, All coins must be paired with other coins and when you do this, it will not be domestic totally.
It can go outside of a border, like normal fiat, but the aim is to have merchant adoption and consumer adoption within the jurisdiction. |
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It's education mainly in my opinion. If you were to take a school and teach all the students there how to use bitcoin then I'm sure in 5 years time that will become the most developed bitcoin space and adoption would be through the roof!
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What effect will this have on the market, do people think? Will the auction oversell bitcoin like with gox auction?
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Ebay is going to come around on this in the future. if bitcoin gets bigger and be used vastly they are going to be left behind if they continue this path.
on the other hand if some projects like open bazzar becomes successful they will lose their share of the market which is not good for them.
Open bazaar needs to offer clear, objective incentives to use it instead of ebay and most importantly, those incentives NEED to be understandable by the average joe. The average joe doesn't understand anything about decentralization and I dont think they care, but if they can save a lot on fees etc, the will go there. Interesting story on linked in today about eBay's reputation system: https://www.linkedin.com/pulse/ebays-reputation-system-hidden-gem-hunter-walk?trk=hp-feed-article-title-hpmI agree that the rating system is a big reason why people feel so comfortable buying from other individuals. It keeps sellers honest and encourages them to resolve issues quickly. Seems like from what I see on sites like cryptothrift it as soon as a bad rating comes in, the user just makes a new username and there is no way to tell what their account did. There is a kind of lack of accountability with that setup, as opposed to eBay's which seems to work well. Correct but why couldn't Open Bazaar implement this? |
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Bitcoin's killer application is to give a chance to the people of under developed countries to the ban services. What am I talking about?
Well there is more than 3 and a half billion people who don't have a bank account in the world and who don't live anywhere close to the bank. With a simple and cheap phone, with the Bitcoin miracles can be done.
I mean look at Mpesa in Kenya and the success of it. Bitcoin can be next Mpesa, just hundred times bigger!
Yes, as long as the central bank don't get their hands on m-money in Kenya. |
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Why would the cryptocurrency have to be mined?
By mining a crypto-currency you're making the network more secure and resistant to attacks. A crypto would need to be mined in order to mint new coins, otherwise I think there wouldn't exist any (my opinion). what about pure pos? Could POS be more secure than POW? I don't know because I'm still studying it but if it is then it would be ideal. I was thinking of a hydrid crypto (with POW and POS combined)  I agree that a hybrid might be preferred. |
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There are many potential uses for decentralisation. There are also many opportunities with hybrid systems too though and centralisation for certain things.
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interesting...amazed this coin doesn't get more volume....when will Bitshares 2.0 drop?
Also, you might want to take a look at CannabisCoin. Yeah been pushing it... I like what they're trying to achieve. But they need a better team behind it though. There's lots of potential in the crypto + Cannabis industry combination. It's likely that both (industries) will be booming in the future. What does it have that bitcoin doesn't? What would make it an attractive investment? |
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The only reason I don't use 100% e-money is because not all merchants will accept it (yep, even for traditional forms of payment like visa - when you think of certain bars, small shops, etc.)
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Let eBay forbid Bitcoin.
OpenBazar will make eBay history.
i'm only hoping that open bazar don't turn in silk road 2.0 or 3.0, they still didn't answered how they will deal with people that will trade illegal stuff at worst we have still the possibility of amazon accepting bitcoin, which i find better than ebay, bitcoin need only one big merchants, then it's done Personally I prefer saving 20% off Amazon products at Purse.io due to Amazon NOT accepting bitcoin. :-) but can you take advantage of the last sale of amazon for their prime celebration day, with purse.io? if yes then maybe you have a good point there, otherwise, you know... still i doubt 20% is on everything, but maybe i'm wrong, i didn't try purse.io is an alternative to purse. |
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I really like this topic so I searched about it a little and I found pretty interesting article about the bitcoin ATMs. Apparently Bitcoin ATMs are not sparse as I thought in Europe. Data from CoinDesk’s bitcoin ATM map include a total of 64 bitcoin ATMs distributed across 20 countries. The UK and Netherlands are home to more than 30% of Europe's bitcoin ATMs with 10 machines in each country. When adjusting for each country's population, the UK ranks only eleventh most popular in Europe for the digital currency machines. Other countries with multiple bitcoin ATMs that missed the top five include the Czech Republic, ranked sixth with six ATMs; Switzerland, ranked seventh with three ATMs; and Italy, ranked 14th with four ATMs. http://www.coindesk.com/5-popular-european-countries-bitcoin/My experience with ATMs in London is that they all suck except for the one in cex. So some of those 30% might have been taken away or not running since. Although I have heard the Netherlands are good so they would probably stock most out of any European country. |
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Why would the cryptocurrency have to be mined?
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Once your account reaches a certain level of activity, Coinbase ask you a number of questions as to how you are funding your account to buy btc and what they are for. So this makes them compliant with AML.
Coinbase is unlikely to be shut down. It is refusing to do business with people in certain states because they are afraid of breaking their local regulations. It's extremely paranoid about who it does business with and people have had their accounts closed for buying from Coinbase and then selling on Local Bitcoins. It probably reports anything and everything just to comply with regulations. Yeah I agree, Coinbase are overly cautious with their compliance of regulations. |
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Bitcoin as a technology and currency is fine (other than volatility for the latter). Any problems I've ever had were relate to the trading of this technology/currency which is a human problem more than anything.
I like the bitcoin itself as a currency and their applied technology. It has it's ups and downs, its pros and cons but it is still good. Yeah I think as a technology it works great. I suppose you can't forget that bitcoin is like a pyramid scheme when you consider that the person who created it hoards so many coins. It's not developed to promote equality as in that sense the whole principle is violated. I think if a better crypto comes along in the future it will be built by the community and open source from the beginning without the whole secrecy of bitcoin's conception. That's how I sometimes feel about bitcoin anyway, it is still hoarded by the hands of a few similar to fiat. |
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