RBS Banking problems...

[Tirapon]

http://www.bbc.co.uk/news/business-25193884

RBS customers say problems continuing after payment fault

Susan Allen from the RBS Group: "We are sincerely sorry for the inconvenience''

[murraypaul]

Bitcoin users not affected by security problems?
How many wallets and exchanges have been hacked, with users losing all their coins?

[Tirapon]

Bitcoin users not affected by RBS system failure.

Of course Bitcoin users are affected by wallet hacks/hacked exchanges. But these services are only a few years old and are constantly improving.

[niothor]

Bitcoin users not affected by RBS system failure.

Of course Bitcoin users are affected by wallet hacks/hacked exchanges. But these services are only a few years old and are constantly improving.

That constantly improving part.... there were more "hacks" in the last month than during the whole year put together.
Improving in what? scams , hack , runaways?

[Tirapon]

Bitcoin users not affected by RBS system failure.

Of course Bitcoin users are affected by wallet hacks/hacked exchanges. But these services are only a few years old and are constantly improving.

That constantly improving part.... there were more "hacks" in the last month than during the whole year put together.
Improving in what? scams , hack , runaways?

I have found that the services which I use are getting better, even in the short year or so that I have been involved. The increased number of hacks in the last month I would put down to the influx of new users (brought in by price increase) who don't know how to protect their coins, as well as the increased price creating greater incentive for hackers.

We are still in early development phase - be careful, learn how to safely store coins, don't keep large amounts on exchanges - basically all the usual advice which anyone will be given if they spend a couple of days reading on the forum.

I often hear people saying that Bitcoin is not suitable for mainstream adoption due to the amount of learning that new users must do in order to protect themselves. I completely agree: we are still not ready for mainstream adoption - people buying in now must take the time and trouble to take care of security for themselves. Those of us who do so stand to be greatly rewarded for taking a risk, and making a small amount of effort to learn about basic security.

For those who are unwilling/unable to do so, you will still be able to benefit from Bitcoin once the infrastructure is more or less complete - you will have access to a frictionless global transaction system, plus other innovations built on top of this technology. Unfortunately, by this stage, price will have climbed much higher so you will not benefit so much from price increase.

[niothor]

You know why I said "Hacks"
Those hacks are people running away with money.

Show that meme to a guy that had btc on inputs.io and let me know if he thinks it is funny.
3 hours downtime vs lots of savings gone forever.

[Carlton Banks]

I often hear people saying that Bitcoin is not suitable for mainstream adoption due to the amount of learning that new users must do in order to protect themselves.

Equally true for computing, and internet. And driving cars.

[Tirapon]

I often hear people saying that Bitcoin is not suitable for mainstream adoption due to the amount of learning that new users must do in order to protect themselves.

Equally true for computing, and internet. And driving cars.

Yes, this is true.

Basically the people who are willing to learn will be amongst the earliest adopters, and will be the ones who see the most appreciation in value of their coins from the time that they bought them. They will use their new found wealth to continue building the infrastructure and making it simpler and easier, to help increase adoption. The latecomers will still benefit from the system once it is built, but not so much from the value increase of their coins.

[Carlton Banks]

I often hear people saying that Bitcoin is not suitable for mainstream adoption due to the amount of learning that new users must do in order to protect themselves.

Equally true for computing, and internet. And driving cars.

Yes, this is true.

Basically the people who are willing to learn will be amongst the earliest adopters, and will be the ones who see the most appreciation in value of their coins from the time that they bought them. They will use their new found wealth to continue building the infrastructure and making it simpler and easier, to help increase adoption. The latecomers will still benefit from the system once it is built, but not so much from the value increase of their coins.

I expect that by the time the refuseniks are left with no choice (when <75% of people using fiat as money, it stops being looked at as money  ), manufacturers will have realised that the lack of inflating money supply will make everyone too thrifty. Expect that to correspond with an increase in the durability of goods for sale. So the late adopters will have a better long-term store of value, in both their money and the things they buy with it. They'll not object to that so much.

[nasamanBoy]

I think you are right with this last statement ....

[Carlton Banks]

I think 3D printing will be another driver of the same trend. Manufacturing facilities will have access to better fabrication technology than the average consumer 3D printers can give people for at least a few years, but they will still compete on price and durability with 3D printed products made at home.

It comes down to cost per time unit of use (or number of overall uses, depends on the circumstances). The $0.99 manufactured good maybe breaks after 720 days, and the 3D printed equivalent breaks after 360 days but only uses $0.30 of plastic. You'd go for the 3D printed version, on balance. In practice, more products will be more durable and cheaper per number or days of use.