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If one is smart fraud virtually can't happen with Bitcoin. Use escrows, use reputation systems, use common sense.
If fraud were such a big problem, there is no way a successful marketplace like Silk Road where no one knows each other's true identity or location could ever exist.
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Curious why is this thread still in the bitcoin discussion thread?
Shouldn't it be moved to the Marketplace? Or service discussion?
Because being able to buy 500k+ items with bitcoins is a very significant development for Bitcoin. |
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Fractional reserve banking. Fiat money. Central banking.
All key causes of the business cycle and its latest iteration. None result of "unregulated" markets, but rather of regulations designed to give banks special privilege.
Read about regulatory capture please...
Precisely. Unfortunately 21after2 is focusing on the symptoms instead of the actual problems hence his false diagnosis. |
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Like I mentioned in the part you cut off: if such a human could exist.
It's not the human it's such a system that inherently can't exist. |
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Bitcoin and unregulated financial markets just leads to massive scamming.
Unlike our heavily over-regulated fiat trash based financial markets. Oh wait, S&L crisis, dotcom bubble/crash, housing bubble/crash, bond bubble/crash. And Madoff, plus MF Global and LIBOR, etc. etc. etc. Can't you go be a blithering statist in some other thread?  Not really in anyone's defense here, but the housing bubble crash was caused due to a lack in regulation rather than over-regulation. A lot of people at a lot of banks and firms were doing things that should have never been allowed even if just viewed from a common sense perspective. Not that I'm a bank lover, but I wouldn't give (at least) the housing bubble to the over-regulation side. Not true at all. That bubble happened precisely because of regulation. Banks were practically forced to lower lending standards by Freddie and Fannie, not to mention the FED key interest rate affected mortgage rates to get artificially low enabling many to borrow who couldn't afford it. All Wall Street did was feed upon this circle and meet a demand that was created by the government and no one else. It's called moral hazard, look it up. |
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Bitcoin and unregulated financial markets just leads to massive scamming.
There is no such thing as an unregulated market. At the very least a market is always regulated by it's consumption and all a free market is is strictly just that, without any monopoly on violence meddling. |
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So I need to know how many customers would like to start accept Bitcoin before we just start offering this.
This is impossible to know and if you ask me not even the right question to ask. The last paragraph of this very important article sums it up really well: http://www.forbes.com/sites/jonmatonis/2012/11/16/whats-your-bitcoin-strategy-wordpress-now-accepts-bitcoin-across-the-planet/ Therefore: What is your Bitcoin strategy?Instead of worrying how many people might purchase your services with bitcoins, answer that question instead. I told you here what Bitcoin can do for you and more importantly your customers, now it's up to you to figure out how to capitalize on that. |
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Tell them that: Bitcoin is a first of it’s kind technology and is the only way one can: - instantly
- without having to pay enormous fees
- without having to worry about fraud or currency debasement
- without having to ask anyone for permission
- without being obligated to identify yourself
- transfer any amount of wealth to anyone, anywhere, anytime?
and that they'd be fools if they didn't care about a technology that allows people to do that. |
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Just to make sure I'm understanding this right... the firmware will be "locked", but updatable?
Chip is updatable, but once it is locked, firmware cannot be changed anymore. For security reasons chips will be locked before shipping and casings will be sealed with custom hologram. Casings are not designed to be openable (without heavy damage). All this is to prevent malicious modification of device during distribution from the manufacturer to the customer. But the source code is open source right? |
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piuk, do you think you could add a chart that plots what can be seen here?: http://statistics.ecdsa.org/There's no need for the animation, a static current chart would do. |
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.. deregulation ..
What deregulation?! As far as I can tell this market is very tightly regulated strictly through consumption i.e. it is a free market. |
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I think just patiently building up a stash of Bitcoins and precious metals is the only real answer.
It is. That and educating as many others to do the same as possible. |
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After the Republicans caved just now (1:30 pm EST 23rd January 2013) and voted to eliminate the debt limit, the speaker Boehner said, "This is the first step in an effort to bring real fiscal responsibility to Washington."
What a joke. Right, let's bring fiscal responsibility to Washington by allowing the Treasury to borrow ANY AMOUNT OF MONEY IT WANTS.
As soon as Obama signs this bill, the Treasury can borrow UNLIMITED amounts of money. 10 trillion, 20 trillion, 100 trillion. Any amount it wants.
Get ready folks, the dollar is about to turn into garbage.
And bitcoins? Hello and welcome to the new world and way of doing business instantly and without fees. Where your wealth and security does not depend on how much money central banks print.
Effectively there is no debt limit anyway since the ceiling is raised every time. So it has never been a limiting factor in spending. It's more like a debt target, where every time they reached it they set it higher and reached it again and then set it higher again and so on and so forth Such a fucking joke.  |
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you can delete any topics you create
Nope, only non OP posts. |
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What do you think?
People can put up their own sites to promote their own Bitcoin client. And no, of course he has no control over the blockchain. What I meant is, bitcoin is a technology (general) but also a particular implementation. Bitcoin.org is catering to the implementation. That in itself seems like a centralization of sorts. It may seem but it's not. |
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What do you think?
People can put up their own sites to promote their own Bitcoin client. And no, of course he has no control over the blockchain. |
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One thing I have felt odd about is requiring just a handful of bitcoin developers to "approve" push requests on Github itself kind of makes it centralized, at least for the current blockchain if you ask me.
As far as I understand it anyone can fork the code, change it, package it and freely distribute their version, no approval necessary by anyone. What does require approval is distribution through bitcoin.org. (someone please correct me if this isn't accurate) |
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Regarding A: So if Gavin did buy lots of coins and is currently a millionaire, he doesn't deserve a salary for all the work he's doing? And why should he divulge how many coins he has?
Regarding B: Everyone wants more money. I do, you do, Gavin does. There is nothing wrong with that. Gavin's work has been instrumental, and he deserves a salary after working pro-bono for years. Other devs do as well. All the more reason to support the Foundation.
Well now is bitcoin just money to him, I think he is in a weird position were, the amount of money for bitcoin protocol shouldn't matter at all. I think once your in a foundation, your working on open source software and you need a salary is going against what the protocol should be. There no reason he can't make money on the side like he did, but if your working on the bitcoin protocol you should be doing it for nothing, or everyone gets paid the same, none of this one person gets a salary. Also if your a millionaire your not going to take a salary. This is a revolution idea and being a driving force should be good enough for him. C) Gavin is a necessary part of the core Bitcoin development team, and doesn't want to work for free.
Then we all have failed, there shouldn't be one person that is "Necessary" to the development team, while Gavin has brought a lot to the table and helped moved us farther in the software, he should be expendable just like anyone else. This is kinda border line breaking a core value of a decentralized currency, if one person is "Necessary" to the development team. I really hope one day someone will build a full node to compete with bitcoin-qt but until then we are in this horrible postion according to software. I couldn't agree more with the above. If Gavin is indispensable to Bitcoin then that is highly concerning news to me. |
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