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801  Bitcoin / Bitcoin Discussion / Re: Who might realistically pose a threat to bitcoin? on: June 30, 2012, 10:14:28 PM
Bitcoin is not a threat to Banks, Banks are a threat to themselves.
If you think about it, what is a bank? Its a glorified spread sheet.
There is no proof of work behind digital money. The balance of your bank account is just a field in a database. That's it. There is no magic.

Any threat that is perceived by bitcoin simply comes from the lack of complexity by those "offended" by it.

The entire global banking system is based on 1960's technology, sure its been upgraded since, but they are just upgrading the same basic framework. No fundamental changes have been made.

Banks are too attached to their mainframe and their existing business, as well being too slow to react to anything.

If the CEO know what's good for his business, he would create a skunkwork division and plans to sell off everybody else to all the other banks once the skunkwork division is profitable.
802  Bitcoin / Bitcoin Discussion / Re: Who might realistically pose a threat to bitcoin? on: June 30, 2012, 10:03:06 PM
the most likely scenario is that companies like Apple and facebook come up with a centralized virtual currency, that to the uninformed public, offers 99% of the advantages of bitcoin.  


Companies like Apple and facebook wants to make lot of money, not create an ecosystem. As long as they're fixated on making their own walled garden with high fees, we have an advantage.

If we accumulate a coalition of companies into a Bitcoin army, then even apple and google can't stop us. Moreso, if any of the biggest tech company decides to join the army.

We need to become so attractive, that they rather join us than fight us.
803  Bitcoin / Press / Re: 2012-06-29 Wall Street Journal - Coinbase Wants to Be the PayPal of Internet on: June 29, 2012, 09:04:51 PM
Where the wallstreet journal article?
804  Bitcoin / Press / Re: 2012-06-29 news.ycombinator.com - Coinbase seeks to bring Bitcoin to the masses on: June 29, 2012, 09:04:04 PM
It's a startup currency that acquires startups!
805  Bitcoin / Bitcoin Discussion / Re: PorcFest 2012 -- Biggest Bitcoin event ever on: June 29, 2012, 08:08:22 PM
Isn't curious that a community form around promoting some kind of money, which by then should be booooooooooooring no brainer? It's like forming a community around promoting a kind of concrete.
806  Bitcoin / Bitcoin Discussion / Re: [ANN] Finally, Bitcoin withdrawals to PayPal from BitInstant! on: June 29, 2012, 03:38:37 PM
Service works, without a hitch.
807  Bitcoin / Bitcoin Discussion / Re: PorcFest 2012 -- Biggest Bitcoin event ever on: June 29, 2012, 03:37:00 PM
Burning Man is very different from Porcfest in those two ways.

Probably a bad idea to setup an exchange at Burning Man due to possible bad publicity. It's lot easier to set it up at various physical libertarian gathering.

808  Bitcoin / Bitcoin Discussion / Re: PorcFest 2012 -- Biggest Bitcoin event ever on: June 29, 2012, 03:15:28 PM
You buy into all that government fear mongering? Global warming fear mongering for the left, terrorism fear mongering for the right. Government growth for all!

I sense a DERAILMENT!
809  Bitcoin / Bitcoin Discussion / Re: How has Bitcoin changed your life? on: June 29, 2012, 12:29:26 PM
Not much yet, other than being a really interesting facet of my life.
810  Bitcoin / Bitcoin Discussion / Re: Our Bitcoin Report from PorcFest 2012 on: June 28, 2012, 03:13:41 AM
It sold bitcoin: cascasciousimus (horrible name, btw) coins. I believe Roger refilled it at least 3 times.

My bad. Probably I misremember.
811  Bitcoin / Bitcoin Discussion / Re: Our Bitcoin Report from PorcFest 2012 on: June 28, 2012, 02:46:41 AM
You left out the vending machine. Cheesy

Vending machine kinda sucks. It should able to accept bitcoin from a phone or something.
812  Bitcoin / Press / Re: 2012-06-27 newscientist.com - Freicoin: Occupy's online currency for the 99 per on: June 28, 2012, 02:46:03 AM
Did this guy talks to only yes-men when he started his project?
813  Bitcoin / Bitcoin Discussion / Re: PorcFest 2012 -- Biggest Bitcoin event ever on: June 27, 2012, 02:04:54 PM
Stop discussing Satan!  Angry

Let discuss bitcoin! Like, why didn't the bitinstant guy record a session? Next time, record some video!
814  Bitcoin / Bitcoin Discussion / Re: [WSJ] BitPay Shatters Record for Bitcoin Payment Processing on: June 27, 2012, 06:05:07 AM
bit-pay have over 600 merchants using it! That's what I am more interested in, not a company selling mining tools.
815  Bitcoin / Bitcoin Discussion / Re: How did you first hear about Bitcoin? on: June 26, 2012, 10:55:56 PM
Some dude refer me to the site on some forum about open source gaming. I dismiss it as an agorist currency that can't possibly work.

That was after the first slashdot coverage. Then I eventually become convinced that it was useful. I was there before the bitcoin price reach 1 dollars.  Grin
816  Bitcoin / Bitcoin Discussion / Re: [ANN] Finally, Bitcoin withdrawals to PayPal from BitInstant! on: June 26, 2012, 10:42:18 PM
Thanks. I don't understand withdrawal process for international transfer and I am afraid. I am still afraid of paypal but thanks for letting me risk my money.
817  Bitcoin / Bitcoin Discussion / Re: PorcFest 2012 -- Biggest Bitcoin event ever on: June 26, 2012, 05:07:39 AM
Pleassssssssssssssssssssssssssssssssssssssss discus bitcoin?  Undecided
818  Bitcoin / Bitcoin Discussion / Re: PorcFest 2012 -- Biggest Bitcoin event ever on: June 25, 2012, 09:35:31 AM
Given that Bitcoin transactions take a few hours how does someone pay for something like an ice cream that requires the payment up front before the goods are handed over?

Presumably, they accept at 0-confirmation.
819  Bitcoin / Bitcoin Discussion / Re: PorcFest 2012 -- Biggest Bitcoin event ever on: June 25, 2012, 12:09:14 AM
How they accept bitcoin? Through a smartphone app?
820  Bitcoin / Bitcoin Discussion / Re: Barnes & Noble accepts Bitcoin Magazine on: June 23, 2012, 03:26:44 AM
So I talked to the manager at my local B&N store. He said that they don't care what magazines they carry (and indeed don't make those decisions either), because they lose money on every magazine. He said he wished the whole magazine section was just books.

Make sense, as I never actually see anybody buy a magazine.
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