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Author Topic: Oh, the growing pains of Bitcoin!  (Read 1370 times)
Phinnaeus Gage
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July 22, 2011, 05:29:35 PM
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Remember when (back in 2000) this happened?: "Last week, a system glitch caused sporadic site outages at PayPal over four days..." http://news.cnet.com/2100-1017-241034.html

Even PayPal had speed bumps, and they too were accused of fraudulent activity at the time. Now look at the behemoth with their transaction fee rates. Eleven years from now, I envision Bitcoin as a premier full service payment solutions provider, still without a ridiculous fee schedule.

Until then, we all need to continue to take time informing and engaging as many people as possible about Bitcoin.

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July 22, 2011, 05:38:30 PM
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Bitcoin will be Paypal's biggest speed bump.

One of Paypal's founders, Peter Thiel, is an outspoken libertarian and I have been impressed with many of his statements and commentary. Let's see how true to principle he is as Bitcoin starts competing in an open market with Paypal. When and if he makes a statement about Bitcoin, I expect it will be positive. If not, I will be seriously disappointed in him.
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July 22, 2011, 05:43:42 PM
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Bitcoin will be Paypal's biggest speed bump.

One of Paypal's founders, Peter Thiel, is an outspoken libertarian and I have been impressed with many of his statements and commentary. Let's see how true to principle he is as Bitcoin starts competing in an open market with Paypal. When and if he makes a statement about Bitcoin, I expect it will be positive. If not, I will be seriously disappointed in him.

"Peter Thiel, is an outspoken libertarian and I have been impressed with many of his statements and commentary."

Like this, of which I bookmarked a couple months back:

http://techcrunch.com/2011/04/10/peter-thiel-were-in-a-bubble-and-its-not-the-internet-its-higher-education/
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July 22, 2011, 05:48:41 PM
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Bitcoin will be Paypal's biggest speed bump.

One of Paypal's founders, Peter Thiel, is an outspoken libertarian and I have been impressed with many of his statements and commentary. Let's see how true to principle he is as Bitcoin starts competing in an open market with Paypal. When and if he makes a statement about Bitcoin, I expect it will be positive. If not, I will be seriously disappointed in him.

I think it's important to note that he sold PayPal and is no longer involved in the company's operations. If I were him, I would be kind of sad at what it has become. Someone really ought to tip him off about Bitcoin.

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July 22, 2011, 05:48:55 PM
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Bitcoin will be Paypal's biggest speed bump.

One of Paypal's founders, Peter Thiel, is an outspoken libertarian and I have been impressed with many of his statements and commentary. Let's see how true to principle he is as Bitcoin starts competing in an open market with Paypal. When and if he makes a statement about Bitcoin, I expect it will be positive. If not, I will be seriously disappointed in him.

Tip: Peter Thiel is a BIG donor to the Singularity Institute for Artificial Intelligence, a group which as of February started accepting bitcoins as donations.  Donation page.

Hm...
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July 22, 2011, 05:54:41 PM
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I suggested to a certain forum to use bitcoins to except donations.

A person replied with

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Lowes and the grocery store never heard of it, so No.

I've been spreading about Bitcoin around to my family and friends from the day I found about it. A few forums as well.

A few forums just come straight out and say hell no.
Phinnaeus Gage
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July 22, 2011, 06:04:06 PM
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Bitcoin will be Paypal's biggest speed bump.

One of Paypal's founders, Peter Thiel, is an outspoken libertarian and I have been impressed with many of his statements and commentary. Let's see how true to principle he is as Bitcoin starts competing in an open market with Paypal. When and if he makes a statement about Bitcoin, I expect it will be positive. If not, I will be seriously disappointed in him.

I think it's important to note that he sold PayPal and is no longer involved in the company's operations. If I were him, I would be kind of sad at what it has become. Someone really ought to tip him off about Bitcoin.

I'm pretty sure Peter Thiel is well informed about Bitcoin.
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July 22, 2011, 06:08:07 PM
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And locked the topic.  Their loss.
It's astounding to me that people don't at least give it a shot; worst case scenario, you change them into dollars.

I've tried donating Bitcoins to podcasts I like and been ignored.  I guess it sounds a little scammy, despite my emphasis that one could simply change it into dollars without investing.

EDIT: It's a pity Mr Thiel is probably contractually prevented from endorsing competitors.  I bet we could get him on our side otherwise.
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July 22, 2011, 06:09:15 PM
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I'm pretty sure Peter Thiel is well informed about Bitcoin.

How can you be pretty sure?

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evoorhees
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Democracy is the original 51% attack


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July 22, 2011, 06:12:09 PM
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I'm pretty sure Peter Thiel is well informed about Bitcoin.

How can you be pretty sure?

It's a reasonable assumption given that A) Thiel is an intelligent, tech-focused person and B) his entire business and fortune was built on the online currency industry. For him to have no knowledge of Bitcoin would be, if nothing else, unprofessional.
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July 22, 2011, 06:12:55 PM
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I'm pretty sure Peter Thiel is well informed about Bitcoin.

How can you be pretty sure?

It's a reasonable assumption given that A) Thiel is an intelligent, tech-focused person and B) his entire business and fortune was built on the online currency industry. For him to have no knowledge of Bitcoin would be, if nothing else, unprofessional.

You know what they say about making assumptions.... Cheesy

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No Maps for These Territories


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July 22, 2011, 06:13:52 PM
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I thought the same thing today, Bitcoin is exactly what Peter Thiel had wanted Paypal to become.

"In the late 1990s, the founding vision of PayPal centered on the creation of a new world currency, free from all government control and dilution — the end of monetary sovereignty, as it were."

( http://www.cato-unbound.org/2009/04/13/peter-thiel/the-education-of-a-libertarian/ )

Bitcoin Core developer [PGP] Warning: For most, coin loss is a larger risk than coin theft. A disk can die any time. Regularly back up your wallet through FileBackup Wallet to an external storage or the (encrypted!) cloud. Use a separate offline wallet for storing larger amounts.
evoorhees
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July 22, 2011, 06:31:43 PM
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I thought the same thing today, Bitcoin is exactly what Peter Thiel had wanted Paypal to become.

"In the late 1990s, the founding vision of PayPal centered on the creation of a new world currency, free from all government control and dilution — the end of monetary sovereignty, as it were."

( http://www.cato-unbound.org/2009/04/13/peter-thiel/the-education-of-a-libertarian/ )


Very good find. If I were Thiel, I'd start a venture-capital fund of ten or twenty million dollars to start buying and building Bitcoin assets. Fast. If Bitcoin needs a respected, high-profile public advocate, I can think of nobody better. Bitcoin will be Thiel's "John Galt" test...
Phinnaeus Gage
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Bitcoin: An Idea Worth Spending


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July 22, 2011, 06:36:38 PM
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I'm pretty sure Peter Thiel is well informed about Bitcoin.

How can you be pretty sure?

It's a reasonable assumption given that A) Thiel is an intelligent, tech-focused person and B) his entire business and fortune was built on the online currency industry. For him to have no knowledge of Bitcoin would be, if nothing else, unprofessional.

+1

An unreasonable assumption would be that he's never heard of Bitcoin, but if he did, he doesn't give a rat's ass about it.

Bitcoin: A New Horizon of Possibilities

Phinnaeus Gage
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Bitcoin: An Idea Worth Spending


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July 22, 2011, 06:40:38 PM
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I thought the same thing today, Bitcoin is exactly what Peter Thiel had wanted Paypal to become.

"In the late 1990s, the founding vision of PayPal centered on the creation of a new world currency, free from all government control and dilution — the end of monetary sovereignty, as it were."

( http://www.cato-unbound.org/2009/04/13/peter-thiel/the-education-of-a-libertarian/ )


Very good find. If I were Thiel, I'd start a venture-capital fund of ten or twenty million dollars to start buying and building Bitcoin assets. Fast. If Bitcoin needs a respected, high-profile public advocate, I can think of nobody better. Bitcoin will be Thiel's "John Galt" test...

Phinnaeus Gage: Who's John Galt?
evoorhees: Exactly!
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