So, it seems that my concerns about Bitcoin (and other eCurrencies) may have been well founded.
Posted by Robbie53024 10 years, 2 months ago to Economics
All you naysayers who said that Bitcoin, and other eCurrencies, are safe might want to get some Tabasco for the crow you're about to eat.
At the risk of oversimplifying, an analogy that I like to use illustrating the recent issues goes something like this ... you put some money in "Harry's Bank". It is not FDIC insured and you don't know Harry very well. One day Harry comes to you and says, "I left the vault open and someone came in and took all the funds, in cash." Cash spends like cash, anonymously - so you are hosed.
I personally find bitcoin fasinating. The original paper is pretty short and quite readable with only a few references to statistics and cryptography.
https://bitcoin.org/bitcoin.pdf
an industry is not defined by a bad business.
does Christianity have to be on every post?!
I would prefer nay saying right now so I can buy in cheaper. geez. not well done of you
If you didn't mean what I asked, then say so. Given the recent posts, that's the way that I take it.
you have been thin skinned and no fun. can we get back to stuff we can agree on for the most part. we have the world to win, after all
I agree that we have more in common that should be rallied to fight against the common collectivist enemy, so why choose inflammatory language?
I have no problem debating Objectivism vs. theism from an intellectual perspective. When you stoop to laying human failure at my feet merely because I happen to be of the same faith as those who had the moral failure, I am going to react very strongly. That is not thin skinned, that is a rational response to an unfair attack.
do you get some of us are a little road weary here and say enough-lets get back to where we can agree? We've gone months without this sort of division. why now?
I have no bone to pick with you. I think that LS has been intentionally provocative and antagonistic as of late, and you seem to want to protect her instead of looking at those posts objectively. Hell, I have no problem with her, if she would only accept that her view of the world isn't absolute and the only thing acceptable on this board.
I try to respect the opinions of others (and granted, may not always succeed) and only ask that others try to do the same. If some want to partake in debate on certain issues, great. But don't grouse about those having such debate just because you don't want to participate. That is rude, and the way that the communication was made was obnoxious as well.
Generally, I think that you have been an honest and reasoned debater on the issues. Not all on this site can have the same said of them. I try not to carry over the issues from one poster to another, except when that poster comes to the aid/support of the other.
LS has been pushed recently- on the post last week, in particular her children were called into question. She has been been burning bright ever since. As I've said-we have gone months in here with no discord. There is much to align. push people and they will fight back. That is my personal take on the dynamics of the last two weeks here. I know. I follow alot of the posts in here. Look, ultimately, gulchers can't worry that on an Ayn Rand site they will offend those who do not appreciate Objectivism. hello! up is down. the admins are subtly weighing in. trust me-this is the kindler, gentler Objectivist site-go hang out on one of the others and report back. did you flag me? I was kinda looking forward to that. sizzle. stamp!
I was not speaking up for anyone. You specified r, in a reply to my post, so, duh, I assumed that you were responding to me.
Discord, should not be viewed as something to be avoided - it presents opportunities to sharpen ones argument. Better to do so here in the midst of mostly like minded people, because we all will surely need to do so against those who have radically different perspectives.
Yes, we have much to align with. Easier to do when treated with respect instead of condescension.
http://www.reuters.com/article/2014/02/2...
I'm not sure that eCurrency is ever going to be feasible. I just don't see a way to make it secure enough. Heck, even hard currency is susceptible to counterfeiting, and that takes some hardware to affect. Anybody with a computer and some programming knowledge (granted, you need a pretty good understanding of encryption and programming) can attack the veracity of the currency.
Of course that is FDIC insured ... and maybe that is all this comes down to - not really a technology issue but an insurance issue.
If my bank was broken into and my funds were stolen, so long as I have documentation, I am covered. Not so with Bitcoin. How do you prove your ownership?
1. go onto an exchange and buy/sell them.
2. you can exchange them directly with a person. for instance, using your laptop or smart phone. There are websites that discuss and advertise and connect people to locally trade
3. there are a bunch of options on local. you an trade for currency, other stuff, or have it transferred into your bank account.
You can't prevent or stop all theft. Let's wait and see how Bitcoin deals with it.