4 ms·

Giving the winnings in a cryptocurrency would both preserve anonymity (pseudonymity?) and permit audit of the winnings.

jsymolon 9y ago
Given all the issues in regards to exchanges i.e. fraud, theft and relative difficulty in getting out, I wouldn't trust cryptocurrency at all.
- pmarreck 9y ago
  What you don't realize are that your arguments here are actually anti-noncryptocurrency. Transactions done only in the cryptocurrency have no such disadvantages, at all. Those are all issues with conversion to and from fiat, and thus arguments against fiat. At some point, maybe not with Bitcoin, maybe not with Ether, but at some point, there will be a tipping point. Probably with the next country whose fiat fails (venezuela?)
  - jsymolon 9y ago
    Not sure what to say to that other than the Kool-aid must be good. Here's the thing, i want to be able to pay bills and be relatively insured against losing to a con man. Currency must be boring, reliable, trustworthy. Examples of the Wiemar Republic Mark, Zimbabwe Dollar and other examples of hyper-inflation are reasons why it must be consistent. Not 10,000 one day and 8,000 the next. That's gambling. Right now CC is a non-starter as i can't get my daily needs met using it. It's a pyramid scheme full of shysters and people trying to get rich quick. How do you vet that an exchange won't pull something ? I want a boring finances. Yes there are issues with fiat but i can go, put a dollar in, come back and still have a dollar. Not 0 and some excuse "hacked!". https://www.scambitcoin.com/blacklist/ https://www.scambitcoin.com/blacklist/
kbutler 9y ago
And suddenly the principals of the lottery company start spending huge amounts of cash...
- pmarreck 9y ago
  Which would also be visible on the blockchain. Depending on the cryptocurrency. Not too hard to sign an address to prove it's yours.
  - kbutler 9y ago
    If you can identify the recipient, then it doesn't provide privacy. If you can't identify the recipient, it is open to fraud by the principals.

Given all the issues in regards to exchanges i.e. fraud, theft and relative difficulty in getting out, I wouldn't trust cryptocurrency at all.

pmarreck 9y ago
What you don't realize are that your arguments here are actually anti-noncryptocurrency. Transactions done only in the cryptocurrency have no such disadvantages, at all. Those are all issues with conversion to and from fiat, and thus arguments against fiat. At some point, maybe not with Bitcoin, maybe not with Ether, but at some point, there will be a tipping point. Probably with the next country whose fiat fails (venezuela?)
- jsymolon 9y ago
  Not sure what to say to that other than the Kool-aid must be good. Here's the thing, i want to be able to pay bills and be relatively insured against losing to a con man. Currency must be boring, reliable, trustworthy. Examples of the Wiemar Republic Mark, Zimbabwe Dollar and other examples of hyper-inflation are reasons why it must be consistent. Not 10,000 one day and 8,000 the next. That's gambling. Right now CC is a non-starter as i can't get my daily needs met using it. It's a pyramid scheme full of shysters and people trying to get rich quick. How do you vet that an exchange won't pull something ? I want a boring finances. Yes there are issues with fiat but i can go, put a dollar in, come back and still have a dollar. Not 0 and some excuse "hacked!". https://www.scambitcoin.com/blacklist/ https://www.scambitcoin.com/blacklist/

kbutler 9y ago

And suddenly the principals of the lottery company start spending huge amounts of cash...

pmarreck 9y ago
Which would also be visible on the blockchain. Depending on the cryptocurrency. Not too hard to sign an address to prove it's yours.
- kbutler 9y ago
  If you can identify the recipient, then it doesn't provide privacy. If you can't identify the recipient, it is open to fraud by the principals.