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It's funny, I remembered that exchange pretty much the opposite way - if you'd listened to those internet experts, you'd have been dead sure that a system that'

by t_mann 3y ago

It's funny, I remembered that exchange pretty much the opposite way - if you'd listened to those internet experts, you'd have been dead sure that a system that's been running for one and a half decades without major hiccups wouldn't work, a product that now has global brand recognition would never see adoption,... There are legitimate reasons to not like the product, eg how it facilitates cyber crime, power consumption, but that's not the focus of the discussion. And it's not like the judgements were all technically sound and they just underestimated the marketing appeal. They ramble on about how the bad guys have more compute power than the good guys, which is more of a distraction than a useful contribution.

mvdtnz 3y ago
[flagged]
- ChainOfFools 3y ago
  It works as long as it remains difficult and, more importantly, taboo to point to any particular person or cartel who's pushing for the constant change in the narrative of what "works" means. That's the real beauty of bitcoin: exploiting the early-ish internet's cultural norm of placing respect for individual privacy and anonymity above all else, in order to defer responsibility for any controversy its core backers want to shirk to an anonymous, impersonal, but somehow always correct "protocol."
- nazka 3y ago
  People downvoting anybody against it without giving any proper answer… I agree with everything you said. Even the security it promotes is false advertising. Yes maybe Bitcoin ~itself~ is secured but the rest is not. It has to live on server, network, software, etc… and those are not 100% secured. Look at the money stolen. There has been more money lost through hacks and wallet stolen than any traditional bank… Security on transaction also is a joke. I have never heard a CEO being so concerned by fraud and Visa and others that they need so much Bitcoin… Unless they do very shady businesses. Tomorrow I do a startup it will use Visa etc and I will sleep just fine. If you run the number with fraud costs etc also included for Bitcoin and traditional ways, from micropayments to $100B money transfer. The traditional is way cheaper and sometimes actually more secured overall. And I can go on and on… It’s just greed.

by t_mann 3y ago

mvdtnz 3y ago

[flagged]

ChainOfFools 3y ago
It works as long as it remains difficult and, more importantly, taboo to point to any particular person or cartel who's pushing for the constant change in the narrative of what "works" means. That's the real beauty of bitcoin: exploiting the early-ish internet's cultural norm of placing respect for individual privacy and anonymity above all else, in order to defer responsibility for any controversy its core backers want to shirk to an anonymous, impersonal, but somehow always correct "protocol."
nazka 3y ago
People downvoting anybody against it without giving any proper answer… I agree with everything you said. Even the security it promotes is false advertising. Yes maybe Bitcoin ~itself~ is secured but the rest is not. It has to live on server, network, software, etc… and those are not 100% secured. Look at the money stolen. There has been more money lost through hacks and wallet stolen than any traditional bank… Security on transaction also is a joke. I have never heard a CEO being so concerned by fraud and Visa and others that they need so much Bitcoin… Unless they do very shady businesses. Tomorrow I do a startup it will use Visa etc and I will sleep just fine. If you run the number with fraud costs etc also included for Bitcoin and traditional ways, from micropayments to $100B money transfer. The traditional is way cheaper and sometimes actually more secured overall. And I can go on and on… It’s just greed.