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Author Topic: Why people use Liberty Reserve and etc?  (Read 1667 times)
Andrew Vorobyov
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July 29, 2012, 08:20:09 PM
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Can somebody explain to me why people still use shady e-currencies when they can use Bitcoin?

For example, Liberty Reserve. What is so special about it? IMHO it is inferior to Bitcoin.

http://www.exchangezone.com - shit loads of money change hands there... Why?

How we can guide these people in the right direction?

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Coinbuck @ BTCLot
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July 29, 2012, 08:23:08 PM
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I think that people just got used to it. Also LR value isn't so volatile like bitcoin value.

Bitcoin is the future !
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July 30, 2012, 12:29:14 AM
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^This

People are stuck in the past! Its what they are used to. I mean, they probably see no reason to switch to BTC except the possibility of losing money. Most ppl accepting LR I've noticed are foreign. I've not met many foreigners(like asian sellers) that have even heard of bitcoin. Once they find something that works they see no reason to change until it no longer works.
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July 30, 2012, 02:32:34 AM
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The reason I use LR is because it's more commonly accepted than Bitcoins.

Frankie
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July 30, 2012, 02:44:34 AM
 #5

Can somebody explain to me why people still use shady e-currencies when they can use Bitcoin?

For example, Liberty Reserve. What is so special about it? IMHO it is inferior to Bitcoin.

http://www.exchangezone.com - shit loads of money change hands there... Why?

How we can guide these people in the right direction?

People use LR as a convenience cross-borders currency basically pegged to dollars. This basically makes sense to people without much modification in behavior or thinking.

Selling bitcoin requires selling a whole outlook.  They need to be convinced that the erratic floating valuation is good. That not being backed by any nation is good. This is not as easy a sell.

LR is a proxy for dollars cash. BTC is an alternative worldview.
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July 30, 2012, 12:51:42 PM
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Another big reason not already mentioned, there are quite a few debit card which can be funded with LR and allow cash withdraws at ATMs. I'm not aware of a ATM usable card program accepting BTC.

LR has been around since 2002. When BTC is a decade old, I'm sure it will be much more widespread than LR is now. Wink
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July 31, 2012, 07:48:35 PM
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Another big reason not already mentioned, there are quite a few debit card which can be funded with LR and allow cash withdraws at ATMs. I'm not aware of a ATM usable card program accepting BTC.

LR has been around since 2002. When BTC is a decade old, I'm sure it will be much more widespread than LR is now. Wink

a bitcoin debit card would be perfect for daily transactions if it could be somehow linked to ones "wallet" or even comtain a "mini wallet" stored on the card itself

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