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Note how ridiculous the counter arguments. I too have made this argument several times and I have gotten similar nonsense in response. I recall reading a stor

by 2367o1 14y ago

Note how ridiculous the counter arguments. I too have made this argument several times and I have gotten similar nonsense in response. I recall reading a story about some guy who was visited by police as they thought he was running an indoor pot growing operation, only to find after searching the premises that he was a bitcoin miner. It takes quite a power surge to draw that kind of attention from police. Bitcoin is geeky, and maybe it's idealistic in some good ways, but it's not "green" and it's not practical. What happens when there's a loss of electricity? Do we fallback to paper currency then?

sgornick 14y ago
Bitcoin payments for person-to-person can be done on mobile. Merchants can run their own point-of-sale or use a hosted solution (or, us a mobile / tablet, just like an individual). For merchants, just like if VISA/Mastercard/Debit card, etc., goes out due to power problems (and there there is no battery backup or local generation), a merchant can't accept payments until power is restored. As far as power outages for those mining -- there is no disturbance to Bitcoin even for lots of power distruptions. If the entire world goes dark, your inability to spend bitcoins will be the least of your problems.