msin
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Activity: 1470
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May 10, 2016, 04:39:46 PM |
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This is the biggest lie of all cryptocoins - that these coins are more convenient for spending than fiat money. It works only if you buy illegal (drugs) or barely legal (webcam girl show) stuff. All the other things are better to purchase with VISA or Paypal, because they protect customers. In Bitcoin et al. it's merchants who are protected. The case is different if customer = machine, because they can't buy stuff with "paper" money.
I agree, the other issue is that people love to say bitcoin is much cheaper than paypal etc due to lower fees during transmission but the they forget to factor in the buy/sell spread. On localbitcoin for example it is around 7% The only reason people feel secure in BTC is the ease of exit to Fiat, not the ability to spend it anywhere, which people really don't do. Consumers drive markets, which is why OB will fail, it caters to the seller as a better way to make money (no fees) but offers no advantage to the buyer. BTC as it is will not succeed as a currency beyond dark markets, but may succeed as a store of value. Iota is targeting an entirely different market and not pretending to be money. People will look back on POW in years from now as a very antiquated, wasteful and centralized protocol. BTC is being run by a handful of people, both from core development and mining. |
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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canth
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Activity: 1442
Merit: 1001
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May 10, 2016, 07:42:14 PM |
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This is the biggest lie of all cryptocoins - that these coins are more convenient for spending than fiat money. It works only if you buy illegal (drugs) or barely legal (webcam girl show) stuff. All the other things are better to purchase with VISA or Paypal, because they protect customers. In Bitcoin et al. it's merchants who are protected. The case is different if customer = machine, because they can't buy stuff with "paper" money.
I agree, the other issue is that people love to say bitcoin is much cheaper than paypal etc due to lower fees during transmission but the they forget to factor in the buy/sell spread. On localbitcoin for example it is around 7% The only reason people feel secure in BTC is the ease of exit to Fiat, not the ability to spend it anywhere, which people really don't do. Consumers drive markets, which is why OB will fail, it caters to the seller as a better way to make money (no fees) but offers no advantage to the buyer. BTC as it is will not succeed as a currency beyond dark markets, but may succeed as a store of value. Iota is targeting an entirely different market and not pretending to be money. People will look back on POW in years from now as a very antiquated, wasteful and centralized protocol. BTC is being run by a handful of people, both from core development and mining. What about buying things that eBay prohibits? I'm sure that their investors aren't thrilled with the idea of a marketplace for drugs, weapons, credit cards, WoW accounts, nazi paraphernalia, etc but this might be the best reason for OB to exist. |
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iotatoken (OP)
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May 10, 2016, 07:53:51 PM |
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This is the biggest lie of all cryptocoins - that these coins are more convenient for spending than fiat money. It works only if you buy illegal (drugs) or barely legal (webcam girl show) stuff. All the other things are better to purchase with VISA or Paypal, because they protect customers. In Bitcoin et al. it's merchants who are protected. The case is different if customer = machine, because they can't buy stuff with "paper" money.
I agree, the other issue is that people love to say bitcoin is much cheaper than paypal etc due to lower fees during transmission but the they forget to factor in the buy/sell spread. On localbitcoin for example it is around 7% The only reason people feel secure in BTC is the ease of exit to Fiat, not the ability to spend it anywhere, which people really don't do. Consumers drive markets, which is why OB will fail, it caters to the seller as a better way to make money (no fees) but offers no advantage to the buyer. BTC as it is will not succeed as a currency beyond dark markets, but may succeed as a store of value. Iota is targeting an entirely different market and not pretending to be money. People will look back on POW in years from now as a very antiquated, wasteful and centralized protocol. BTC is being run by a handful of people, both from core development and mining. What about buying things that eBay prohibits? I'm sure that their investors aren't thrilled with the idea of a marketplace for drugs, weapons, credit cards, WoW accounts, nazi paraphernalia, etc but this might be the best reason for OB to exist. That's the thing though, if you remove hardcore anarchist/libertarians who hold their fundamentalist ideology of not being associated with 'the system' above profit, and who hold this ideology so darely they are willing to bankrupt ( they don't really exist in any significant way ) from the equation, then you only got the 'darkmarket' left. Which is undeniably a big self-sustaining and genuine economy by any metric. However, you would not want to use Bitcoin in this market, you'd instead wait for something like Zerocash that use Zero Knowledge Proofs and ensure your anonymity and security. In IOTA the machine-2-machine economy of machines being both the consumer and prosumer of technological resources is what will drive the economy. On top of this you also of course got the other use-cases that are enabled by the world's first scalable distributed ledger with no fees. |
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msin
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Activity: 1470
Merit: 1004
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May 12, 2016, 05:36:15 PM |
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On top of this you also of course got the other use-cases that are enabled by the world's first scalable distributed ledger with no fees.
Glad you mentioned this, as it's becoming an issue with Bitcoin and has huge potential implications on the future of decentralized information access. Iota has many possibilities beyond M2M! |
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msin
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Activity: 1470
Merit: 1004
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May 12, 2016, 05:40:18 PM |
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What about buying things that eBay prohibits? I'm sure that their investors aren't thrilled with the idea of a marketplace for drugs, weapons, credit cards, WoW accounts, nazi paraphernalia, etc but this might be the best reason for OB to exist.
Dark markets exist for that. The issue is the governments have figured out they can't stop Dark Markets, so instead they are going after Tor and users of Tor, lumping them all in as criminals. So the only solution will be a completely anonymous protocol like Iotatoken said, Zerocash. |
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BlackWidow
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May 14, 2016, 02:58:20 AM |
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Can Iota add a layer or plug in to have the zerocash effect? understand "layer" and PLug in" is just the general terms I know to say Im sure they are not the right words but hope you get the idea
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yassin54
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Activity: 1540
Merit: 1000
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May 16, 2016, 02:16:15 PM |
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kahir
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Activity: 1050
Merit: 1000
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May 16, 2016, 11:39:07 PM |
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is there an estimate date to be able to trade iota on exchanges
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yassin54
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Activity: 1540
Merit: 1000
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May 17, 2016, 09:27:46 AM |
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yassin54
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Activity: 1540
Merit: 1000
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May 18, 2016, 01:06:29 PM |
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yassin54
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Activity: 1540
Merit: 1000
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May 19, 2016, 10:17:06 AM |
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bitwhizz
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Activity: 910
Merit: 1000
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May 19, 2016, 12:15:42 PM |
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Is Iota GUI release yet?
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yassin54
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Activity: 1540
Merit: 1000
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May 19, 2016, 04:52:55 PM |
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Is Iota GUI release yet?
I am happy with this GUI   |
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WarrEagle
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May 20, 2016, 04:07:10 PM |
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Is Iota GUI release yet?
I am happy with this GUI That's horrible, it looks like a spreadsheet from 1992 |
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rlh
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May 20, 2016, 04:08:24 PM |
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Is Iota GUI release yet?
I am happy with this GUI That's horrible, it looks like a spreadsheet from 1992 You are mistaken, this is the Berkshire Hathaway theme. Couldn't be more appropriate for a financial application. |
A Personal Quote on BTT from 2011:
"I'd be willing to make a moderate "investment" if the value of the BTC went below $2.00. Otherwise I'll just have to live with my 5 BTC and be happy. :/" ...sigh. If only I knew.
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iotatoken (OP)
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May 20, 2016, 04:17:55 PM |
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Is Iota GUI release yet?
I am happy with this GUI That's horrible, it looks like a spreadsheet from 1992 It's a UI, not a GUI, but sufficient to do the testing. |
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yassin54
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Activity: 1540
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May 20, 2016, 07:14:31 PM |
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Is Iota GUI release yet?
I am happy with this GUI That's horrible, it looks like a spreadsheet from 1992 It's a UI, not a GUI, but sufficient to do the testing. I'm joking, but it is very nice for test as david says!!   |
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yassin54
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May 23, 2016, 05:11:03 PM |
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yassin54
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May 25, 2016, 09:30:44 PM |
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yassin54
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Activity: 1540
Merit: 1000
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May 28, 2016, 11:14:16 AM |
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