Thanking Banking

[Bitcoinpro]

There's only so long things like these can last before people have enough, bitcoin is just a solution to a corrupt system.

yes of course we all say thankyou though it could become retrospectively irrelevant either reactively forthwith or proactively past tense

You talk a lot of nonesense.

don't try and pretend you didn't understand what i said

[Bitcoinpro]

yes of course we all say thankyou though it could become retrospectively irrelevant either reactively forthwith or proactively past tense

Bitcoin won't eliminate banks or regular currencies. Even if it ultimately should do so, expecting that outcome here and now seems to be rather delusional, I'd say. We can be optimistic, but should remain at least somewhat realistic when it comes to the expectations we have for bitcoin!

and my post history reflects exactly wat you said, is that why you quoted me ?

[Beliathon]

Atheism would be the wrong analogy, perhaps the birth of the enlightenment period would be more fitting. And of course, the enlightenment was a result of the excesses of religion, the subordination and repression of the masses. It produced an eventual positive effect on society, profoundly changing the power structures in society.

Ahh yes, I stand corrected. The Renaissance would be the result.

I think we are witnessing something similar now with the birth of the internet triggering a "Neo-Renaissance", the dawn of the information age. Bitcoin is part of that.

[annoyingorange]

Dualism. When one side gains too much power, the other side fights back.

[ipnone5only]

I said about a year ago that they had better let up on their gold suppression or watch bitcoin gain traction.

Well, guess what, assholes, here we are, and bitcoin is gaining traction.

And you'll find that bitcoin is all kinds of worse than gold ever was, easy to hide, easy to transport, easy to assay, hard to regulate, global in nature.

[CokeCoin]

Invention is often born of necessity.

The current system is an unsustainable scam that is 300 years running. This system has absolutely failed everyone in every way except those controlling it.

We needed something to replace this heap of fail. Bitcoin (blockchains) are it.

[GTA]

And you'll find that bitcoin is all kinds of worse than gold ever was, easy to hide, easy to transport, easy to assay, hard to regulate, global in nature.

What you'll actually find is that it's a law enforcement officer's dream. On a small level: yes, it requires no centralized point, and that's great if you want to transport value stores without regulation. The problem is that centralization is required for general purpose use. As soon as you have that, you have KYC laws coming into effect (check out the proposed BTC regulation in NY State from earlier this week). KYC laws + public ledger = much much much better than gold for LEOs (edit: or cash, frankly).

[GTA]

And you'll find that bitcoin is all kinds of worse than gold ever was, easy to hide, easy to transport, easy to assay, hard to regulate, global in nature.

There could potentially be some great things about bitcoin, but anonymity and the death of centralized banking is certainly not one of them. There is exactly a zero percent chance that will happen.

[EnterReturn]

KYC laws + public ledger = much much much better than gold for LEOs (edit: or cash, frankly).

Have you been paying attention to Dark Wallet, CoinJoin, various things like DarkCoin or even just the ability to trade BTC -> LTC -> BTC and vanish on the Blockchain?

Bitcoin might not be perfect, but it's more than enough to enable the step after very very easily.

[Summer,69]

The problem is that centralization is required for general purpose use.

Nope, centralization is only required for integrating into the legacy financial system, which is only a temporary measure. What were you referring to specifically, as necessary centralization?

[GTA]

KYC laws + public ledger = much much much better than gold for LEOs (edit: or cash, frankly).

Have you been paying attention to Dark Wallet, CoinJoin, various things like DarkCoin or even just the ability to trade BTC -> LTC -> BTC and vanish on the Blockchain?

Bitcoin might not be perfect, but it's more than enough to enable the step after very very easily.

Yes, but I think it's extremely unlikely that a) it will still be very easy when bitcoin has reached any level of significant traction, and b) even if it remains easy, most people will not do this which will give the authorities, among many other people, a fairly easy to follow trail. Doesn't mean it's impossible to commit crimes, but it makes it far shittier to just be a regular person.

[GTA]

The problem is that centralization is required for general purpose use.

Nope, centralization is only required for integrating into the legacy financial system, which is only a temporary measure. What were you referring to specifically, as necessary centralization?

Mostly that no one wants to manage a wallet themselves, which will have the wallet providers functioning as banks. Tons of other services that will spring up around bitcoin will also provide centralization. It's just like the internet: sure it's "decentralized" but there are still a few key backbones and a few key regulating powers on it.

[2good2betrue]

Dear Gov,
If you could just shut down the Internet so we can build strong mesh networks, that would be great.

[gonnafly]

Why does everyone say, that low regulation is bad for the rich people and institutions? If you hold a lot of bitcoin you can communicate with your rich friends and influence the market etc. etc.? In germany most rich people are for less regulation (FDP/CDU), the normal/poor people want more regulation, taxes etc and vote for SPD. Isn't that the same?

[ljudotina]

Well of course that rich ppl doesnt want regulations, as regulations, regullary take their wealth away from them. Regulations and high taxes doesnt have to be bad things. Look at most Nordic countries. They have crazy taxes, but wealth if spread around the country, so everyone is able to live good if they work. Manager get's hes share of a pie, plummer gets it's share of a pie etc. Regulations, if done correctly are not bad thing for themselves. Problem is when regulations are made so they protect rich ppl at cost of poor ppl (which is most common way they are done).

[12inchdick]

What you'll actually find is that it's a law enforcement officer's dream. On a small level: yes, it requires no centralized point, and that's great if you want to transport value stores without regulation. The problem is that centralization is required for general purpose use. As soon as you have that, you have KYC laws coming into effect (check out the proposed BTC regulation in NY State from earlier this week). KYC laws + public ledger = much much much better than gold for LEOs (edit: or cash, frankly).

Well hopefully one of the alts can work out the anonymity thing eventually because bitcoin certainly isn't enough.