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Bad Uncle
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February 07, 2015, 10:55:30 AM
 #21
Quote from: oblivi on February 06, 2015, 02:43:35 AM
Decentralization still doesn't solve the problem of not knowing whom you are dealing with. In fact, nothing can as far as I know.

Could you not make that argue about most markets? I think some sort of escrow or trusted third party will be used but they'll likely have a feedback system similar to ebay or the one here. Unfortunately there's always going to be weak links when you need to exchange something and trust someone but there are ways around it. It's just about finding the best solution.
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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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udecker
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February 10, 2015, 02:11:31 AM
 #22
Quote from: mortified on February 06, 2015, 05:57:22 AM
instruments like Tether will be a panacea and a Pandora's Box. A bank run in this case would not be cashing out for fiat, but abandoning fiat for Bitcoin.

This is our expectation as well.

Quote from: mortified on February 06, 2015, 05:57:22 AM
Tether is a transitional instrument for people with motion sickness.

I’m going to quote you on that. :-)

Craig
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