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Author Topic: WSJ doesn't like Bitcoin  (Read 1239 times)
Hawker
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August 29, 2011, 12:10:05 PM
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http://online.wsj.com/video/bitcoin-to-burn-a-hole-in-your-pocket/1FADAD1B-15D6-4250-AD7B-E62556C5D1A3.html?mod=personal_fin_video_newsreel

They make some good points about Bitcoin "banks" disappearing with our money.  They like the concept but not the current state of the Bitcoin infrastructure.  If they are sincere, you should see demand for Bitcoin rocket when we get some decent institutions.

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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin-Qt, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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August 29, 2011, 12:17:14 PM
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http://online.wsj.com/video/bitcoin-to-burn-a-hole-in-your-pocket/1FADAD1B-15D6-4250-AD7B-E62556C5D1A3.html?mod=personal_fin_video_newsreel

They make some good points about Bitcoin "banks" disappearing with our money.  They like the concept but not the current state of the Bitcoin infrastructure.  If they are sincere, you should see demand for Bitcoin rocket when we get some decent institutions.
lol @Bitcoin Banks. Jesus Christ we really do need some PR people...

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August 29, 2011, 12:37:32 PM
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lol @Bitcoin Banks. Jesus Christ we really do need some PR people...

I think that calling MyBitcoin a bitcoin bank is the least of bitcoins image problems...

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Donate to the BitKitty Foundation instead! -> 1Fd4yLneGmxRHnPi6WCMC2hAMzaWvDePF9 <-
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August 29, 2011, 03:09:00 PM
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Jesus Christ we really do need some PR people...

You mean Bruce Wagner isn't doing it right???   Roll Eyes
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August 29, 2011, 05:21:22 PM
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http://online.wsj.com/video/bitcoin-to-burn-a-hole-in-your-pocket/1FADAD1B-15D6-4250-AD7B-E62556C5D1A3.html?mod=personal_fin_video_newsreel

They make some good points about Bitcoin "banks" disappearing with our money.  They like the concept but not the current state of the Bitcoin infrastructure.  If they are sincere, you should see demand for Bitcoin rocket when we get some decent institutions.
lol @Bitcoin Banks. Jesus Christ we really do need some PR people...

I love how they won't call us to discuss it...   Sad


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August 29, 2011, 05:37:29 PM
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I am not surprised so much software dev is done to centralize things in order to make a profit.
It seems only natural. I guess writing software to give away to websites that sell goods to make
them totally independent of centralized places just does not pay the bills. Even if you sold it..
it would eventually just get copied once people start looking at your source.. and clone it without
breaking the license. Because no one is going to stick a binary blob without source on their website
in my opinion.

I hope I made sense... basically a software package that accepts bitcoin payments, can immediately
sell them at an exchange if that is what the owner wants, can assist in doing refundsif needed, keep track
of everything combined with their software commerce package.. etc... And make it low cost enough
or free where anyone can use it.

Thus you cut out a lot of the middlemen except exchanges.. which the software package could just choose
among several and sell at the highest price..
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August 29, 2011, 05:39:58 PM
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I hope to see some day one and serious enterprise with Bitcoin.

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August 29, 2011, 06:57:40 PM
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I hope to see some day one and serious enterprise with Bitcoin.

There already is. Silk Road has over 30,000 members. If even 10% of those are active buyers, that's blowing every other bitcoin related venture out of the water right now.

Somehow everyone seems to forget bitcoin's most stunning success story.
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