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I have a bitcoin debit card. It works just fine thanks. I can spend it anywhere that accepts a card.

by Frogolocalypse 9y ago

tdurden 9y ago
You are spending fiat though with that debit card, like every debit card. Transactions are off-chain.
- Frogolocalypse 9y ago
  That makes absolutely no difference whatsoever. By your logic, people using coinbase to hold their coins aren't holding bitcoin. It is exactly the same. Bitcoin from my wallet is being spent. It is increasing in value while i don't spend it, because it is in bitcoin. It is no different than an American using their cc in europe.
  - tdurden 9y ago
    > By your logic, people using coinbase to hold their coins aren't holding bitcoin Exactly, they aren't. Coinbase owns the private keys, thus the bitcoin.
    - Frogolocalypse 9y ago
      I completely agree. That why the money on my bitcoin debit card is only a fraction of the total amount of bitcoin I own, and I put money on the card when I want to. Because I understand the risk of putting bitcoin on an exchange, and am prepared to accept that risk for that amount, for the convenience of being able to spend my bitcoin whenever I choose.
      - CryptoPunk 9y ago
        What you're promoting is a totally centralized cryptocurrency vision for the vast majority of the world, where the very rich and large institutions alone get to use their private keys with any frequency. It utterly contradicts the title of Bitcoin's white paper: Bitcoin: A Peer-to-Peer Electronic Cash System
        Frogolocalypse 9y ago
        Nodes are peers. If you don't own one, especially if you can't run one, and you don't use it to secure your transactions on the blockchain, you aren't one. You skipped right over the peer part, even though the word is used twice, and started talking about the cash part.
        CryptoPunk 9y ago
        If you don't control your own private keys, you don't have any control of your own money. Satoshi certainly did not think using light clients while controlling one's own private keys contradicted the principle of "peer-to-peer electronic cash". No matter how you try to spin it, you can't make a future where the vast majority can't control their own private keys sound consistent with Satoshi's vision, or rewrite the public statements Satoshi made about how Bitcoin should scale.
        Frogolocalypse 9y ago
        You need to learn how bitcoin works and what a node does.

I have a bitcoin debit card. It works just fine thanks. I can spend it anywhere that accepts a card.

tdurden 9y ago

You are spending fiat though with that debit card, like every debit card. Transactions are off-chain.

Frogolocalypse 9y ago
That makes absolutely no difference whatsoever. By your logic, people using coinbase to hold their coins aren't holding bitcoin. It is exactly the same. Bitcoin from my wallet is being spent. It is increasing in value while i don't spend it, because it is in bitcoin. It is no different than an American using their cc in europe.
- tdurden 9y ago
  > By your logic, people using coinbase to hold their coins aren't holding bitcoin Exactly, they aren't. Coinbase owns the private keys, thus the bitcoin.
  - Frogolocalypse 9y ago
    I completely agree. That why the money on my bitcoin debit card is only a fraction of the total amount of bitcoin I own, and I put money on the card when I want to. Because I understand the risk of putting bitcoin on an exchange, and am prepared to accept that risk for that amount, for the convenience of being able to spend my bitcoin whenever I choose.
    - CryptoPunk 9y ago
      What you're promoting is a totally centralized cryptocurrency vision for the vast majority of the world, where the very rich and large institutions alone get to use their private keys with any frequency. It utterly contradicts the title of Bitcoin's white paper: Bitcoin: A Peer-to-Peer Electronic Cash System
      - Frogolocalypse 9y ago
        Nodes are peers. If you don't own one, especially if you can't run one, and you don't use it to secure your transactions on the blockchain, you aren't one. You skipped right over the peer part, even though the word is used twice, and started talking about the cash part.
        CryptoPunk 9y ago
        If you don't control your own private keys, you don't have any control of your own money. Satoshi certainly did not think using light clients while controlling one's own private keys contradicted the principle of "peer-to-peer electronic cash". No matter how you try to spin it, you can't make a future where the vast majority can't control their own private keys sound consistent with Satoshi's vision, or rewrite the public statements Satoshi made about how Bitcoin should scale.
        Frogolocalypse 9y ago
        You need to learn how bitcoin works and what a node does.