laSeek

3 ms·

1. 1.▲
   by laSeek 14y ago

   It's a little slippery IRL - blocks in bitcoin are mined and the mined blocks are representations of value - at least within the blockchain itself. You could argue that the blockchain itself does represent value. The value of the mined
2. 2.▲
   by laSeek 14y ago

   Privacy is privacy - you don't know how important it is until you don't have it. The main payment processors operate a mafia of sorts - it's a closed shop - tx fees are fixed and determined by them. One aspect of bitcoin is that is allows
3. 3.▲
   by laSeek 14y ago

   Bitcoin is slow - the accepted "confirmation" for a payment is 6 confirmations - best case (a tx just before a block is formed and it's included in the block) it'll take an hour. Worst case it's a couple of hours. If you're sane and keep b
4. 4.▲
   by laSeek 14y ago

   USD has been the currency of choice for decades for this.. What's the difference? Cash is anon as cryptocoins are.
5. 5.▲
   by laSeek 14y ago

   Mtgox wishes it was a bank :) They ask for the docco for AML (trading) requirements - so they're not shifting the 5M btc that they've processed to dodgy criminal types - like lawyers & politicos :)
6. 6.▲
   by laSeek 14y ago

   lol - take a moment to look at https://en.bitcoin.it/wiki/Trade - there's rather a substantial list. You know that Wordpress now accepts btc as payment for addons for their blog hosted service?