Bitcoin Forum
April 24, 2014, 11:01:02 AM *
News: Due to the OpenSSL heartbleed bug, changing your forum password is recommended.
 
   Home   Help Search Donate Login Register  
Pages: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 [19] 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
  Print  
Author Topic: Bitcoin-Central, first exchange licensed to operate with a bank. This is HUGE  (Read 117567 times)
Ignore@YourPeril
Full Member
***
Offline Offline

Activity: 151


View Profile

Ignore
December 10, 2012, 09:07:41 PM
 #361

  Do you think your grandmother is likely to install the blockchain, pick out a 12 digit passphrase, keep routine offline backups, ensure the system is free from malware, etc?

Here is my suggestion for distributed bitcoin banking for granny: https://bitcointalk.org/index.php?topic=99921.msg1384968#msg1384968 msg 57. Here I expand on it, with beautiful pics of banknotes to go: https://bitcointalk.org/index.php?topic=92969.600
    mBitCASINOWIN BITCOINS IN OUR
24/7 LIVE DEALER CASINO

Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1398337262
Hero Member
*
Offline Offline

Posts: 1398337262

View Profile Personal Message (Offline)

Ignore
1398337262
Reply with quote  #2

1398337262
Report to moderator
1398337262
Hero Member
*
Offline Offline

Posts: 1398337262

View Profile Personal Message (Offline)

Ignore
1398337262
Reply with quote  #2

1398337262
Report to moderator
1398337262
Hero Member
*
Offline Offline

Posts: 1398337262

View Profile Personal Message (Offline)

Ignore
1398337262
Reply with quote  #2

1398337262
Report to moderator
1398337262
Hero Member
*
Offline Offline

Posts: 1398337262

View Profile Personal Message (Offline)

Ignore
1398337262
Reply with quote  #2

1398337262
Report to moderator
davout
Staff
Hero Member
*****
Offline Offline

Activity: 1148


1davout


View Profile WWW

Ignore
December 10, 2012, 09:22:20 PM
 #362

Crina Belododia's answer to that post is AMAZING. WOW!
No, her points are retarded.

She (He?) is completely off the bat when speaking about regulating Bitcoin, no one ever said anything about regulating Bitcoin. I'll go in a little more depth later about our interactions with regulatory bodies, but basically we neither asked permission, nor sought regulation for Bitcoin.

Fiat is regulated : fact.
Bitcoin is not : fact.

Bitcoin exchanges are by definition an interface between these worlds, so I fail to see how it comes as a big surprise to anyone that in order to be sustainable in this business an exchange has to be licensed for the fiat-handling part.

A gummy bears/EUR exchange would probably have had the exact same problems, but probably less stupid fanatics and fanboys running around screaming and calling us heretics to The Cause™.

MPOE-PR
Hero Member
*****
Offline Offline

Activity: 756



View Profile

Ignore
December 10, 2012, 09:23:11 PM
 #363

The funny part of course is that this exact debate was being discussed on Trilema two months ago.

Bitcoin is about freedom and freedom means freedom of choice.  If Bitcoin became very popular (say PayPal sized in volume) most users would WANT to put their money in a "bank".  They don't want the responsibility that comes with the freedom Bitcoin offers.  Sure Bitcoin gives you the freedom to bypass the banks but it also gives you the "freedom" to lose your entire life savings as easily as you lost those vacation photos from last year.

A much too easily and frequently overlooked point. Bitcoin will never kill banks, it will just transform them into "Bitcoin Wallet Security Providers", much like cars haven't destroyed chariot riding, they've just transformed it into "hansome cab rides".

My Credentials  | THE BTC Stock Exchange | I have my very own anthology! | Use bitcointa.lk, it's like this one but better.
thoughtfan
Sr. Member
****
Offline Offline

Activity: 476

thoughtfanwritesstuff.wordpress.com


View Profile WWW

Ignore
December 10, 2012, 09:23:53 PM
 #364

Crina Belododia's answer to that post is AMAZING. WOW!

Damned,  she makes some good points indeed.

« Asking for the State to bless Bitcoin businesses in an attempt to induce its birth is not the way to grow adoption. Anyone who is impatient for it to grow needs to be learn patience and write more software, not run to the State to cripple the baby before it is born ».

I'm confused now.  You guys might actually be right.
What amused me about that particular comment response, and I think it at least suggests why so many an-caps are getting so het up about all this is I think many of them think they are living in an Ayn Rand novel.  They forget for real people making real decisions in the real world a decision to involve an organisiation that is subject to governmental regulation does not suddenly turn them into a sleazy Rand character who will invariably turn into a monster.  As original as she was, and I do have a lot of respect for what she brought to the table, fortunately real people and the real world, are more complex, more creative, more beautiful and much less cynical than Rand's imagination.  And despite the haughty moral certainty with which Crina Belododia's lengthy response was written a friend should tap him/her on the shoulder and remind them they're not actually John Galt!


If you have a machine on 24/7 why not have a full Bitcoin client running on it to support the network?
thoughtfan
Sr. Member
****
Offline Offline

Activity: 476

thoughtfanwritesstuff.wordpress.com


View Profile WWW

Ignore
December 10, 2012, 09:40:03 PM
 #365


...no one (at least at Paymium) ever said anything about regulating Bitcoin. I'll go in a little more depth later about our interactions with regulatory bodies, but basically we neither asked permission, nor sought regulation for Bitcoin.
I wouldn't pay too much attention to this if I were you.  Thinking about what I just posted about some of the an-caps living in an Ayn Rand novel it really explains something I've been puzzling about.  Crina Belododia is not the first to make accusations based on ridiculous assumptions regarding the motives and long-term plans of you, Bitpay and others.  In their simplistic world-view if you have made a decision with which they can see a parallel with one of Ayn Rand's characters, you are that character in their eyes and so they believe their conclusions as to how you will behave in future, stifling all competition, getting into bed with regulators to buy you favours at everybody else's expense etc. are actually justified.

The irony is that many think this way of seeing the world and of judging people is actually objective!!

The knee-jerk reaction that Bitcoin-Central, by involving a partner that is subject to regulation is necessarily commiting some kind of philosophical bad; then jumping through mental hoops to find a way of rationalising the conclusion they'd already come to - including totally unfounded accusations - is not what I'd call being objective.

If you have a machine on 24/7 why not have a full Bitcoin client running on it to support the network?
Serith
Sr. Member
****
Offline Offline

Activity: 269


View Profile

Ignore
December 10, 2012, 09:40:57 PM
 #366

We've written a blog piece on this fascinating and controversial subject of bankhood...

This is generally a response to the controversy around Paymium's announcement, and more specifically Matonis' Forbes piece yesterday.

http://blog.bitinstant.com/blog/2012/12/10/the-controversy-of-bankhood.html

Integration and easy to use is what people want from Bitcoin and this what makes it easier to become mainstream, and certainly this is where it's all going. But it also demotivates people from creating and using tools to circumvent current laws and the whole system becomes dependent on current regulations. Your blog past has valid arguments and as usual the truth is somewhere in between those two view points, but don't pretend like you know exactly what is the correct thing here in a long term.
Lethn
Hero Member
*****
Online Online

Activity: 546



View Profile WWW

Ignore
December 10, 2012, 09:54:25 PM
 #367

Do you understand how bitcoin works? Bitcoin is already in a bank, and you owe the private key to your funds. That's it. Your bitcoins are secured in the blockchain.

If you want someone to keep a record of your private password will it make it more secure?
Maybe not everyone wants to be their own bank...

Pussy

www.frontierspace.net - Manga           www.silverboarjewellery.com - Jewellery
davout
Staff
Hero Member
*****
Offline Offline

Activity: 1148


1davout


View Profile WWW

Ignore
December 10, 2012, 10:02:05 PM
 #368

Pussy
No thank you, I had my share for today.

marcus_of_augustus
Hero Member
*****
Offline Offline

Activity: 1134



View Profile

Ignore
December 10, 2012, 10:20:04 PM
 #369


So TCP/IP needed to get approval from the "regulators" before it was widely adopted?

Then the bitcoin protocol may not be all it is cracked up to be .... if  Erik Vorhees is correct that bitcoin needs the crutch of state approval in order to get widely adopted, then I would say it is deficient as a technology and not fit for purpose .... bring on bitcoin2.0. (Holy Trinity should be nimble for the crypto-currency 2G will be life threatening for them.)


Monetary Freedom - a basic human right
"Disarming money as a tool for tyranny."
"Disintermediating the State."
grondilu
Hero Member
*****
Offline Offline

Activity: 1134


View Profile

Ignore
December 10, 2012, 10:26:26 PM
 #370


So TCP/IP needed to get approval from the "regulators" before it was widely adopted?

Then the bitcoin protocol may not be all it is cracked up to be .... if  Erik Vorhees is correct that bitcoin needs the crutch of state approval in order to get widely adopted, then I would say it is deficient as a technology and not fit for purpose .... bring on bitcoin2.0. (Holy Trinity should be nimble for the crypto-currency 2G will be life threatening for them.)

It's not about bitcoin being regulated, it's about bitcoin exchanges.
davout
Staff
Hero Member
*****
Offline Offline

Activity: 1148


1davout


View Profile WWW

Ignore
December 10, 2012, 10:27:28 PM
 #371


So TCP/IP needed to get approval from the "regulators" before it was widely adopted?

Then the bitcoin protocol may not be all it is cracked up to be .... if  Erik Vorhees is correct that bitcoin needs the crutch of state approval in order to get widely adopted, then I would say it is deficient as a technology and not fit for purpose .... bring on bitcoin2.0. (Holy Trinity should be nimble for the crypto-currency 2G will be life threatening for them.)
Oh god, please stop with this regulating Bitcoin nonsense.

marcus_of_augustus
Hero Member
*****
Offline Offline

Activity: 1134



View Profile

Ignore
December 10, 2012, 10:52:55 PM
 #372


So TCP/IP needed to get approval from the "regulators" before it was widely adopted?

Then the bitcoin protocol may not be all it is cracked up to be .... if  Erik Vorhees is correct that bitcoin needs the crutch of state approval in order to get widely adopted, then I would say it is deficient as a technology and not fit for purpose .... bring on bitcoin2.0. (Holy Trinity should be nimble for the crypto-currency 2G will be life threatening for them.)
Oh god, please stop with this regulating Bitcoin nonsense.

Yes, indeed we should just stop with this nonsense of getting the bitcoin technology regulated ....

Monetary Freedom - a basic human right
"Disarming money as a tool for tyranny."
"Disintermediating the State."
SgtSpike
Hero Member
*****
Offline Offline

Activity: 1106


Firstbits: 18tkn


View Profile WWW

Ignore
December 10, 2012, 10:53:16 PM
 #373


So TCP/IP needed to get approval from the "regulators" before it was widely adopted?

Then the bitcoin protocol may not be all it is cracked up to be .... if  Erik Vorhees is correct that bitcoin needs the crutch of state approval in order to get widely adopted, then I would say it is deficient as a technology and not fit for purpose .... bring on bitcoin2.0. (Holy Trinity should be nimble for the crypto-currency 2G will be life threatening for them.)
Oh god, please stop with this regulating Bitcoin nonsense.

Yes, indeed we should just stop with this nonsense of getting the bitcoin technology regulated ....
No one here is asking for that.

molecular
Donator
Hero Member
*
Offline Offline

Activity: 1190



View Profile

Ignore
December 10, 2012, 10:53:39 PM
 #374

Congrats!

But before I verify my account, I would like to know: what is an assymmetric cypher?

The documents you are submitting are used only to verify your account. Once your account is verified your documents are archived after being properly encrypted using an assymmetric cipher

If this means you're going to brand my ID on a cows ass I'm all for it!

zebedee
Donator
Sr. Member
*
Offline Offline

Activity: 430



View Profile

Ignore
December 10, 2012, 10:55:39 PM
 #375

Quote
We honestly didn't think there would be this kind of massive interest from Americans and other nationalities all around the world. We honestly didn't think there would be this kind of massive interest from Americans and other nationalities all around the world.

Welcome to the new age of fiscal facism ... US citizens will flock to anything that is somehow outside their fiscal prison of a banking system where you don't have to submit to the psychological equivalent of a full cavity search just to manage and transact with your own money.

You come across as being a little naive to the true nature of the battle going on out there ... good luck.
+1
davout
Staff
Hero Member
*****
Offline Offline

Activity: 1148


1davout


View Profile WWW

Ignore
December 10, 2012, 11:28:42 PM
 #376

Congrats!

But before I verify my account, I would like to know: what is an assymmetric cypher?

The documents you are submitting are used only to verify your account. Once your account is verified your documents are archived after being properly encrypted using an assymmetric cipher

If this means you're going to brand my ID on a cows ass I'm all for it!

:3

Liquid
Hero Member
*****
Offline Offline

Activity: 588


Bitcoin - The Future Is Now


View Profile

Ignore
December 10, 2012, 11:40:17 PM
 #377

posted on my forum

http://www.maxishine.com.au/forums/viewtopic.php?f=38&t=29676

also it was on Legit Reviews

http://www.legitreviews.com/news/14665/

Lifetime Member of the Bitcoin Foundation | Member of the Bitcoin Association of Australia  | Member of the Litecoin Association
Founder of Litecoin Australia
Founder of Digital Bitcoin
MPOE-PR
Hero Member
*****
Offline Offline

Activity: 756



View Profile

Ignore
December 10, 2012, 11:42:19 PM
 #378

Quote
We honestly didn't think there would be this kind of massive interest from Americans and other nationalities all around the world. We honestly didn't think there would be this kind of massive interest from Americans and other nationalities all around the world.

Welcome to the new age of fiscal facism ... US citizens will flock to anything that is somehow outside their fiscal prison of a banking system where you don't have to submit to the psychological equivalent of a full cavity search just to manage and transact with your own money.

You come across as being a little naive to the true nature of the battle going on out there ... good luck.
+1

Why do you think eurodollars even exist? (For the past 50 or so years).

My Credentials  | THE BTC Stock Exchange | I have my very own anthology! | Use bitcointa.lk, it's like this one but better.
marcus_of_augustus
Hero Member
*****
Offline Offline

Activity: 1134



View Profile

Ignore
December 10, 2012, 11:55:48 PM
 #379


So TCP/IP needed to get approval from the "regulators" before it was widely adopted?

Then the bitcoin protocol may not be all it is cracked up to be .... if  Erik Vorhees is correct that bitcoin needs the crutch of state approval in order to get widely adopted, then I would say it is deficient as a technology and not fit for purpose .... bring on bitcoin2.0. (Holy Trinity should be nimble for the crypto-currency 2G will be life threatening for them.)
Oh god, please stop with this regulating Bitcoin nonsense.

Yes, indeed we should just stop with this nonsense of getting the bitcoin technology regulated ....
No one here is asking for that.

Maybe not overtly or knowingly, but they are undoubtedly paving the way for it.

Monetary Freedom - a basic human right
"Disarming money as a tool for tyranny."
"Disintermediating the State."
davout
Staff
Hero Member
*****
Offline Offline

Activity: 1148


1davout


View Profile WWW

Ignore
December 10, 2012, 11:58:36 PM
 #380

No one here is asking for that.

Maybe not overtly or knowingly, but they are undoubtedly paving the way for it.
Just as much as Satoshi paved the way for Bitcoin regulation by inventing Bitcoin.

Pages: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 [19] 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!