Is there difference between Bitcoin and liberty reserve?

[mastica]

Liberty reserve were used in the general into the hyip, that were the main customers from those processor, all knowed that liberty reserve were used to scam purposes, atleas thos is the image i do remember from it. Bitcoin has just one thing similiar thats the low fees transactions, and some people does use it for scam purposes, but at century XXI its hard to believe theres till people blind that invest into hyip, and in the general end loosing their bitcoins to the scammers.

[LeGaulois]

What is the difference between Bitcoin and Liberty reserve? Hope Bitcoin will not end up like Liberty reserve?

liberty reserve is not mine able where as bitcoin is mine able, Liberty Reserve is not accepted by stores by selling their good but where as bitcoin is accepted.

Yeah ? Liberty reserve has been shut down since multiple years now. So sure it is not accepted by stores

[LeGaulois]

Bitcoin is not controlled by one or few people but for a large number of people and miners (but not fully)
And LR was controlled by someone else which when he "disappear" the whole community and users were "scammed"

People can't say they have been "scammed" Nobody scammed, the FBI took control of the site. They can only blame themselves for not using a reliable payment processor system

[~Bitcoin~]

What is the difference between Bitcoin and Liberty reserve? Hope Bitcoin will not end up like Liberty reserve?

Bitcoin - Decentralized, it will have records/ledger distributed all over the world with different individuals so whatever bitcoin an address hold will remain same for many years till real owner of that address transfer it out from it.

Liberty reserve - Centralized payment processor so all account and user details are stored in one database or datacentre which can go down or taken down by government/FBI/Cybercrime within few minute, and same happened to LR before which made many people to loss billions of their hard earned cash.

Bitcoin will not end up like liberty reserve or it can't be taken down by government just like they have taken down LR.

[SONG GEET]

I'm surprised Liberty Reserve isn't forgotten, yet. But I guess it's worth remembering as a wrong way to do things. One single guy got arrested and the whole thing just collapsed.

And i think same will happen to perfectmoney which is working exactly like liberty reserve used to. However after the introduction of bitcoin as payment system with lower fee on sending/receiving money there is no need for this types of centralized payment processors with low fee. All of this processors are vulnerable towards governmental shutdown because they can shut it down/stop with just one off switch.