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Instead, let's be dumbfucks[0] and use Facebook to send money! [0]http://www.businessinsider.com/embarrassing-and-damaging-zuckerberg-ims-confirmed-by-zuckerbe

by grubles 12y ago

Instead, let's be dumbfucks[0] and use Facebook to send money! [0]http://www.businessinsider.com/embarrassing-and-damaging-zuckerberg-ims-confirmed-by-zuckerberg-the-new-yorker-2010-9 http://www.businessinsider.com/embarrassing-and-damaging-zuc...

ForHackernews 12y ago
It's not an either-or proposition here. But let's get real, bitcoin combines the ease-of-use of sendmail.cf with the stable value of the Russian ruble.
- grubles 12y ago
  So you think bitcoin is harder than: 1. Learning how to open a bank account (requires tons of personal information) 2. Learning how and why to use a debit/credit card (insecure) 3. Signing up for (requires e-mail) facebook and tying your credit card to it to send money ?
  - ForHackernews 12y ago
    The point is that 95% of adults have already done #1 and #2 and half of #3, and they have experience giving their credit card info to other websites. Maybe if you were starting tabula rasa with eleven year old children who'd never had a bank account or used a website before, maybe then bitcoin would be easier (provided they didn't get hacked and have their coins stolen[0]). [0] https://twitter.com/Coinapult/status/577892916309291008 https://twitter.com/Coinapult/status/577892916309291008
    - grubles 12y ago
      Incompetence is payment-system-agnostic: http://www.bloomberg.com/bw/articles/2014-03-13/target-missed-alarms-in-epic-hack-of-credit-card-data http://www.bloomberg.com/bw/articles/2014-03-13/target-misse...
      - ForHackernews 12y ago
        Liability isn't.
        grubles 12y ago
        Where is this magical land where a company can't be held liable for losses because they accept bitcoin?
  - pjc50 12y ago
    The hard part of bitcoin is keeping all the devices you use it on perfectly uncompromised and backed up.
    - grubles 12y ago
      The hard part about using a credit card is trusting the merchant to be perfectly secure.
      - vectorpush 12y ago
        The difference is that stolen bitcoin equates to a permanent loss of funds while a stolen credit card number equates to a customer service phone call.
        grubles 12y ago
        >13.1 million identity-theft cases were reported in 2013, resulting $18 billion in losses. from https://www.javelinstrategy.com/uploads/web_brochure/1405.R_2014IdentityFraudReportBrochure.pdf https://www.javelinstrategy.com/uploads/web_brochure/1405.R_...
        thedufer 12y ago
        Banks are the ones taking those losses, and it comes out of the CC fees paid by merchants. Yes, this probably results in price increases, which is like buying insurance - I will pay 2% more for pretty much every good I buy, and in return I will never be defrauded out of my entire life's savings at once. Seems like a good deal to me?
        grubles 12y ago
        You don't see the problem here do you? 13.1 million people were defrauded because they used a credit card. $18 Billion were lost as a result. Losses due to bitcoin are peanuts in comparison.

by grubles 12y ago

ForHackernews 12y ago

It's not an either-or proposition here. But let's get real, bitcoin combines the ease-of-use of sendmail.cf with the stable value of the Russian ruble.

grubles 12y ago
So you think bitcoin is harder than: 1. Learning how to open a bank account (requires tons of personal information) 2. Learning how and why to use a debit/credit card (insecure) 3. Signing up for (requires e-mail) facebook and tying your credit card to it to send money ?
- ForHackernews 12y ago
  The point is that 95% of adults have already done #1 and #2 and half of #3, and they have experience giving their credit card info to other websites. Maybe if you were starting tabula rasa with eleven year old children who'd never had a bank account or used a website before, maybe then bitcoin would be easier (provided they didn't get hacked and have their coins stolen[0]). [0] https://twitter.com/Coinapult/status/577892916309291008 https://twitter.com/Coinapult/status/577892916309291008
  - grubles 12y ago
    Incompetence is payment-system-agnostic: http://www.bloomberg.com/bw/articles/2014-03-13/target-missed-alarms-in-epic-hack-of-credit-card-data http://www.bloomberg.com/bw/articles/2014-03-13/target-misse...
    - ForHackernews 12y ago
      Liability isn't.
      - grubles 12y ago
        Where is this magical land where a company can't be held liable for losses because they accept bitcoin?
- pjc50 12y ago
  The hard part of bitcoin is keeping all the devices you use it on perfectly uncompromised and backed up.
  - grubles 12y ago
    The hard part about using a credit card is trusting the merchant to be perfectly secure.
    - vectorpush 12y ago
      The difference is that stolen bitcoin equates to a permanent loss of funds while a stolen credit card number equates to a customer service phone call.
      - grubles 12y ago
        >13.1 million identity-theft cases were reported in 2013, resulting $18 billion in losses. from https://www.javelinstrategy.com/uploads/web_brochure/1405.R_2014IdentityFraudReportBrochure.pdf https://www.javelinstrategy.com/uploads/web_brochure/1405.R_...
        thedufer 12y ago
        Banks are the ones taking those losses, and it comes out of the CC fees paid by merchants. Yes, this probably results in price increases, which is like buying insurance - I will pay 2% more for pretty much every good I buy, and in return I will never be defrauded out of my entire life's savings at once. Seems like a good deal to me?
        grubles 12y ago
        You don't see the problem here do you? 13.1 million people were defrauded because they used a credit card. $18 Billion were lost as a result. Losses due to bitcoin are peanuts in comparison.