5 ms·

If Bitcoin is ever going to get used by the masses, it needs to be easier to secure your coins. My dad can barely check his email without clicking on an obviou

If Bitcoin is ever going to get used by the masses, it needs to be easier to secure your coins. My dad can barely check his email without clicking on an obvious phishing scam. I can't imagine him with a Bitcoin wallet..

tdkl 11y ago
Or the masses need to take a step forward and educate themselves. Financial education is already as poor as it gets and managing money should be learned in school instead of memorising useless data.
- msh 11y ago
  they dont stand a chance, read this: http://jessysaurusrex.com/2015/11/18/security-for-everyone-apple-store-edition/ http://jessysaurusrex.com/2015/11/18/security-for-everyone-a...
  - tdkl 11y ago
    > Where would someone who had never before been exposed to an App Store ever learn about how any of those things work? Well sure, but we could say this about anyone for every topic there is in this wonderful crazy thing called life. The only difference is between those who had interest to learn and those who find 1001 excuses why he didn't. The easiest thing in the world is to give up.
aianus 11y ago
Most people will just use Bitcoin-enabled (and probably dollar-denominated) bank accounts with limits on daily withdrawals, same way they use bank accounts and debit cards instead of stuffing $40,000 in bills in their mattress. Fraud and theft will happen but I don't see why it would be much more of an issue than it is in the current system of debit cards and cash.
- repomies691 11y ago
  I guess it is up to if the customer wants the dollar-denomination. I wouldn't want that, I would rather keep my cash tied to btc. If the customer doesn't want to tie his wealth to btc, why would he/she want to use bitcoin at all? The only reason I can think about is remittance, and there the benefit is cost-saving.
  - aianus 11y ago
    > why would he/she want to use bitcoin at all Remittances, discounts from merchants who pass on the savings vs. processing credit cards, transactions which are considered too risky for current payment methods (ie. buying a MacBook online with your US credit card and having it shipped to your cousin in Romania), buying things online anonymously (porn, VPNs, sex toys), internet gambling (which is legal in most places outside the USA), etc.
- sanswork 11y ago
  Because unlike debit cards a bank can't reverse a Bitcoin theft and would be on the hook for the losses or would pass them to the customer at which point they're back to square one.
  - herbst 11y ago
    Banks also pass the costs for all the credit card frauds to customers. Where is the difference?
    - sanswork 11y ago
      No they pass it to the merchants not the end users by reversing the transactions. With Bitcoin they can't do that so they either hold the risk themselves or they offload it to the end users and that's not going to float with end users.
      - herbst 11y ago
        What? So when i am a merchant and someone frauds me it is my problem? Even thought the fraud was only possible because their system is shit? Thats exactly why i would use Bitcoin over all as merchant, like more and more do already.
herbst 11y ago
The masses can use third parties to watch over their coins. Just like they do now as well.
- sanswork 11y ago
  The history of letting others look after your coins is full of a lot of people without coins anymore.
  - herbst 11y ago
    Same is valid for banks. Still people use it.

tdkl 11y ago

Or the masses need to take a step forward and educate themselves. Financial education is already as poor as it gets and managing money should be learned in school instead of memorising useless data.

msh 11y ago
they dont stand a chance, read this: http://jessysaurusrex.com/2015/11/18/security-for-everyone-apple-store-edition/ http://jessysaurusrex.com/2015/11/18/security-for-everyone-a...
- tdkl 11y ago
  > Where would someone who had never before been exposed to an App Store ever learn about how any of those things work? Well sure, but we could say this about anyone for every topic there is in this wonderful crazy thing called life. The only difference is between those who had interest to learn and those who find 1001 excuses why he didn't. The easiest thing in the world is to give up.

aianus 11y ago

Most people will just use Bitcoin-enabled (and probably dollar-denominated) bank accounts with limits on daily withdrawals, same way they use bank accounts and debit cards instead of stuffing $40,000 in bills in their mattress. Fraud and theft will happen but I don't see why it would be much more of an issue than it is in the current system of debit cards and cash.

repomies691 11y ago
I guess it is up to if the customer wants the dollar-denomination. I wouldn't want that, I would rather keep my cash tied to btc. If the customer doesn't want to tie his wealth to btc, why would he/she want to use bitcoin at all? The only reason I can think about is remittance, and there the benefit is cost-saving.
- aianus 11y ago
  > why would he/she want to use bitcoin at all Remittances, discounts from merchants who pass on the savings vs. processing credit cards, transactions which are considered too risky for current payment methods (ie. buying a MacBook online with your US credit card and having it shipped to your cousin in Romania), buying things online anonymously (porn, VPNs, sex toys), internet gambling (which is legal in most places outside the USA), etc.
sanswork 11y ago
Because unlike debit cards a bank can't reverse a Bitcoin theft and would be on the hook for the losses or would pass them to the customer at which point they're back to square one.
- herbst 11y ago
  Banks also pass the costs for all the credit card frauds to customers. Where is the difference?
  - sanswork 11y ago
    No they pass it to the merchants not the end users by reversing the transactions. With Bitcoin they can't do that so they either hold the risk themselves or they offload it to the end users and that's not going to float with end users.
    - herbst 11y ago
      What? So when i am a merchant and someone frauds me it is my problem? Even thought the fraud was only possible because their system is shit? Thats exactly why i would use Bitcoin over all as merchant, like more and more do already.

herbst 11y ago

The masses can use third parties to watch over their coins. Just like they do now as well.

sanswork 11y ago
The history of letting others look after your coins is full of a lot of people without coins anymore.
- herbst 11y ago
  Same is valid for banks. Still people use it.