4 ms·

Supporters of Bitcoin really are their own worst enemy. You only have to look at the comments to see why most normal people aren't going to touch it with a for

Supporters of Bitcoin really are their own worst enemy. You only have to look at the comments to see why most normal people aren't going to touch it with a forty foot pole.

habitue 14y ago
Examples? Your comment is basically content free here.
- taligent 14y ago
  Let's start with the most popular: "Bitcoin is to the USD (and all fiat) what Kryptonite is to Superman." People don't want a massive upheaval of the status quo. They don't want an anarchist, anything goes, regulation free environment. They want government involved in ensuring a level playing field.
  - codexon 14y ago
    If you ignore the anarcho-capitalism fanatics, you can see bitcoin has its uses. It is great for international trade without having to use Paypal. And there are no chargebacks. The big problem with Bitcoin is that it is really slow to verify a transaction so it is not going to replace current solutions in the next decade. But it definitely has a niche. However the price of bitcoins barely risen by $1 so I doubt Iranians have bought more than $10,000 worth of bitcoins.
    - politician 14y ago
      "really slow to verify a transaction" 10 minutes to get into the block chain + 50 minutes (5 additional rounds) to shift the probabilities of a fraudulent transaction (e.g. double-spending) down near 0. This may or may not be too slow depending on the transaction.
      - xyproto 14y ago
        Not too slow for must purchases over the internet, one would think.
        codexon 14y ago
        When you can buy something instantly with paypal on a competitor's site, it is too slow.
        politician 14y ago
        On the other had, for something like automatic subscription renewals it's fine.
  - 1010011010 14y ago
    "They want government involved in ensuring a level playing field." Is that what governments do? I couldn't tell.
  - Tichy 14y ago
    Do people still trust their governments? Because I sure as hell don't - and I live in Germany, probably one of the more democratic countries out there.
  - bcoates 14y ago
    But what people want for the world rarely affects how they behave, and in economic matters behavior is everything.

Supporters of Bitcoin really are their own worst enemy. You only have to look at the comments to see why most normal people aren't going to touch it with a forty foot pole.

habitue 14y ago

Examples? Your comment is basically content free here.

taligent 14y ago
Let's start with the most popular: "Bitcoin is to the USD (and all fiat) what Kryptonite is to Superman." People don't want a massive upheaval of the status quo. They don't want an anarchist, anything goes, regulation free environment. They want government involved in ensuring a level playing field.
- codexon 14y ago
  If you ignore the anarcho-capitalism fanatics, you can see bitcoin has its uses. It is great for international trade without having to use Paypal. And there are no chargebacks. The big problem with Bitcoin is that it is really slow to verify a transaction so it is not going to replace current solutions in the next decade. But it definitely has a niche. However the price of bitcoins barely risen by $1 so I doubt Iranians have bought more than $10,000 worth of bitcoins.
  - politician 14y ago
    "really slow to verify a transaction" 10 minutes to get into the block chain + 50 minutes (5 additional rounds) to shift the probabilities of a fraudulent transaction (e.g. double-spending) down near 0. This may or may not be too slow depending on the transaction.
    - xyproto 14y ago
      Not too slow for must purchases over the internet, one would think.
      - codexon 14y ago
        When you can buy something instantly with paypal on a competitor's site, it is too slow.
        politician 14y ago
        On the other had, for something like automatic subscription renewals it's fine.
- 1010011010 14y ago
  "They want government involved in ensuring a level playing field." Is that what governments do? I couldn't tell.
- Tichy 14y ago
  Do people still trust their governments? Because I sure as hell don't - and I live in Germany, probably one of the more democratic countries out there.
- bcoates 14y ago
  But what people want for the world rarely affects how they behave, and in economic matters behavior is everything.