4 ms·

>- P2P money/value transfer, no banks, no intermediary => delivered; Except I need an exhange to get the coins and turn the coins into usable currency >nobody

>- P2P money/value transfer, no banks, no intermediary => delivered; Except I need an exhange to get the coins and turn the coins into usable currency >nobody owns Bitcoin network => delivered; Meh, the biggest investors are still in control in practice. >- no government with no amount of regulation can stop a transaction from happening => delivered; Yet they can claim taxes on transactions, seize funds, stop you from exhanging the funds into usable currency. But yeah they can't stop the transaction itself, which is also true of cash, except cash isn't also completely traceable. >- everybody can take a part in Bitcoin network, you don't need anyone permission to join (ie. oppressive government) => delivered; Last time I bought some bitcoin I had to scan my passport just to buy it on an exchange.

sgjohnson 4y ago
> Last time I bought some bitcoin I had to scan my passport just to buy it on an exchange. There are plenty of exchanges that don't care one bit about KYC. Of course, you get a significantly shittier exchange rate and sometimes waiting times of up to 90 days before you can do anything with your coins.
- Teandw 4y ago
  That means dealing with exchanges that are likely involved in illegal activities so a kind of mute point.
  - sgjohnson 4y ago
    The only illegal activity they engage in is not giving a damn about KYC or AML laws. Which is fine by me.
    - Teandw 4y ago
      What a weird response.
  - joncrocks 4y ago
    Moot point. https://www.merriam-webster.com/words-at-play/moot-or-mute https://www.merriam-webster.com/words-at-play/moot-or-mute
    - Teandw 4y ago
      I'll continue to use mute point.
      - pwinnski 4y ago
        "I will continue to openly demonstrate my willful ignorance" doesn't support your position well, and doesn't seem in line with the general tone of HackerNews, IMO.
  - prvit 4y ago
- mtlmtlmtlmtl 4y ago
  So, in real life, you need a passport. Or all these other advantages are moot.
mirzap 4y ago
> Except I need an exhange to get the coins and turn the coins into usable currency I bought my phone with bitcoin, graphic card, many house hold items with bitcoin (no conversion). But I do understand your point. Thing is, bitcoin is still in very early stage. > Meh, the biggest investors are still in control in practice. that's false. tell me how big investors can stop or take my bitcoin? > Yet they can claim taxes on transactions, seize funds, stop you from exhanging the funds into usable currency. But yeah they can't stop the transaction itself, which is also true of cash, except trash isn't also completely traceable. that's totally fine and by design. nothing wrong with paying taxes. They can confiscate, but they can not target you and confiscate because you belong to some group, deplatform you. That's the point. > Last time I bought some bitcoin I had to scan my passport just to buy it on an exchange. you have 1000s ATMs around the world, you can exchange without any ID. I've sold and bought p2p many times as well. This will improve with wider adoption.
littlecranky67 4y ago
> Except I need an exhange to get the coins and turn the coins into usable currency Not any more than you need a bank to convert your left-over € from your Europe holiday into US$. You wouldn't need a bank, you could try to look for another person who is about to leave for Europe to trade, just as you can try to look for a person that is willing to trade your BitCoin against whatever else you desire or another crypto (say on localbitcoins.com). Yes, there are marketplaces that bring these traders together, just as there are institutions that specialize in those exchange in larger amounts (for a fee). You also wouldn't need to exchange your gold into US$ with a bank, but some offer this as a service and its easier to find a buyer yourself.

sgjohnson 4y ago

> Last time I bought some bitcoin I had to scan my passport just to buy it on an exchange. There are plenty of exchanges that don't care one bit about KYC. Of course, you get a significantly shittier exchange rate and sometimes waiting times of up to 90 days before you can do anything with your coins.

Teandw 4y ago
That means dealing with exchanges that are likely involved in illegal activities so a kind of mute point.
- sgjohnson 4y ago
  The only illegal activity they engage in is not giving a damn about KYC or AML laws. Which is fine by me.
  - Teandw 4y ago
    What a weird response.
- joncrocks 4y ago
  Moot point. https://www.merriam-webster.com/words-at-play/moot-or-mute https://www.merriam-webster.com/words-at-play/moot-or-mute
  - Teandw 4y ago
    I'll continue to use mute point.
    - pwinnski 4y ago
      "I will continue to openly demonstrate my willful ignorance" doesn't support your position well, and doesn't seem in line with the general tone of HackerNews, IMO.
- prvit 4y ago
mtlmtlmtlmtl 4y ago
So, in real life, you need a passport. Or all these other advantages are moot.

mirzap 4y ago

> Except I need an exhange to get the coins and turn the coins into usable currency I bought my phone with bitcoin, graphic card, many house hold items with bitcoin (no conversion). But I do understand your point. Thing is, bitcoin is still in very early stage. > Meh, the biggest investors are still in control in practice. that's false. tell me how big investors can stop or take my bitcoin? > Yet they can claim taxes on transactions, seize funds, stop you from exhanging the funds into usable currency. But yeah they can't stop the transaction itself, which is also true of cash, except trash isn't also completely traceable. that's totally fine and by design. nothing wrong with paying taxes. They can confiscate, but they can not target you and confiscate because you belong to some group, deplatform you. That's the point. > Last time I bought some bitcoin I had to scan my passport just to buy it on an exchange. you have 1000s ATMs around the world, you can exchange without any ID. I've sold and bought p2p many times as well. This will improve with wider adoption.

littlecranky67 4y ago

> Except I need an exhange to get the coins and turn the coins into usable currency Not any more than you need a bank to convert your left-over € from your Europe holiday into US$. You wouldn't need a bank, you could try to look for another person who is about to leave for Europe to trade, just as you can try to look for a person that is willing to trade your BitCoin against whatever else you desire or another crypto (say on localbitcoins.com). Yes, there are marketplaces that bring these traders together, just as there are institutions that specialize in those exchange in larger amounts (for a fee). You also wouldn't need to exchange your gold into US$ with a bank, but some offer this as a service and its easier to find a buyer yourself.