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Except, you're not getting around the problem here either - I need to find a real money payment system that the bitcoin exchange and I both trust and and the me

Except, you're not getting around the problem here either - I need to find a real money payment system that the bitcoin exchange and I both trust and and the merchant needs to find a real money payment system that they and their bitcoin exchange both trust. You're doubling the problem no matter how you look at it, because the problem of you sending money to the bitcoin exchange is the exact same problem as you sending money to the merchant.

alextingle 13y ago
But I can have an ongoing relationship with a single bitcoin exchange that I trust, rather than N merchants - any of whom might be dodgy.
- candybar 13y ago
  Except that's exactly the problem that existing payment systems solve that bitcoin fails to solve. What problem do you see bitcoin solving as far as payment system goes for people who are not using bitcoin otherwise? People can buy from untrustworthy merchants quite easily right now. And bitcoin costs more - you pay the bitcoin exchange and the payment system and your merchant pays the bitcoin exchange and his payment system.
yummyfajitas 13y ago
You're doubling the problem no matter how you look at it, because the problem of you sending money to the bitcoin exchange is the exact same problem as you sending money to the merchant. No, because we've introduced loose coupling. I need to figure out how to turn USD into BTC. My wordpress guy needs to figure out how to turn BTC into UAH. Either of us can swap out our solution and the other doesn't care. Suppose we used Paypal instead. If Paypal decides they hate Ukraine, we can't transact anymore. Similarly, if you build your company's internal architecture using JSON over HTTP with a common json schema, you have doubled the problem. The Scala side needs to turn java data structures into JSON, and the Python side needs to turn them into python objects. Doesn't mean it's a bad way to go.
- candybar 13y ago
  No, you haven't introduced anything, because sending money to a bitcoin exchange is exactly as hard as sending money to a merchant. I already conceded the global bridge argument, but that's just a legal loophole. Authorities can easily legally treat depositing money into a bitcoin exchange as sending money abroad and make it just as hard.
  - yummyfajitas 13y ago
    If armed men want to stop you from using bitcoin, they can. On the other hand, if Paypal doesn't do business in Cambodia, I can still hire a web designer there.

alextingle 13y ago

But I can have an ongoing relationship with a single bitcoin exchange that I trust, rather than N merchants - any of whom might be dodgy.

candybar 13y ago
Except that's exactly the problem that existing payment systems solve that bitcoin fails to solve. What problem do you see bitcoin solving as far as payment system goes for people who are not using bitcoin otherwise? People can buy from untrustworthy merchants quite easily right now. And bitcoin costs more - you pay the bitcoin exchange and the payment system and your merchant pays the bitcoin exchange and his payment system.

yummyfajitas 13y ago

You're doubling the problem no matter how you look at it, because the problem of you sending money to the bitcoin exchange is the exact same problem as you sending money to the merchant. No, because we've introduced loose coupling. I need to figure out how to turn USD into BTC. My wordpress guy needs to figure out how to turn BTC into UAH. Either of us can swap out our solution and the other doesn't care. Suppose we used Paypal instead. If Paypal decides they hate Ukraine, we can't transact anymore. Similarly, if you build your company's internal architecture using JSON over HTTP with a common json schema, you have doubled the problem. The Scala side needs to turn java data structures into JSON, and the Python side needs to turn them into python objects. Doesn't mean it's a bad way to go.

candybar 13y ago
No, you haven't introduced anything, because sending money to a bitcoin exchange is exactly as hard as sending money to a merchant. I already conceded the global bridge argument, but that's just a legal loophole. Authorities can easily legally treat depositing money into a bitcoin exchange as sending money abroad and make it just as hard.
- yummyfajitas 13y ago
  If armed men want to stop you from using bitcoin, they can. On the other hand, if Paypal doesn't do business in Cambodia, I can still hire a web designer there.