Quote from: samysamy1 on May 20, 2015, 01:22:55 PM

Quote from: kelsey on May 20, 2015, 11:27:09 AM

Quote from: punkrock on May 20, 2015, 11:23:42 AM

To make NEM successfull you need to answer the ultimate question. Why should anyone (private NOR commercial) use NEM instead of ~~Bitcoin~~ Fiat? If you can answer this, assure everyone about this an spread the word. That's the only way to make NEM successful and independent.

fixed it for you Wink

Don't think that's difficult to answer -> escaping oppression and theft by governments and bankers.

The problem is that the value of bitcoin is linked to USD. We need to seperate Fiat from Crypto first.

Yes. And sadly it's going to take something serious in the economy for people to realize crypto's potential.

On another subject (well, sort of.) I just read an interesting article. It certainly appeals to my standpoint but i've no idea of the legitimacy of it's claims/views. Considering the nature of the existing financial system (And how fractional reserve banking is corrupted to the core) I get the feeling much of whats spoken in this article is worth noting. (I'll qoute a few segments, then post the link)

Quote

Despite the severe blow by the Mt. Gox disaster, the adherents of Bitcoin are proud to claim that it has finally stabilized and spawned a new sense of legitimacy, with the prestigious New York Stock Exchange now introducing a Bitcoin pricing index. This index would work in much the same way as the LIBOR index, and would in effect serve as a measuring stick to determine global value. A golden day for the cryptocurrency, if you listened to the fans of Bitcoin.

This does not mean that Bitcoin will be used by the NYSE for trades, or that you can trade Bitcoin on the exchange, but that now there is a semi-official standard for other markets to be based off of. This comes on the heels of popular Bitcoin market Poloniexadding Margin Trading for the first time. Bitcoin has grown up, is the belief. But the reality is much, much darker for the Libertarians who love Bitcoin.

What this also means is that now Wall Street will be firmly in control of the exchange rates, and as history showed us with theLIBOR scandal, if the opportunity for exploitation exists, Wall Street will do it. Unlike LIBOR, where there are bank records and financial filings to verify against, Bitcoins own decentralized nature works against it. Unlike LIBOR, the manipulation of Bitcoin cannot be easily verified, and even if demonstrated, no penalties extracted. Also unlike LIBOR, which can only be indexed a few times per day due to the nature of the banks involved, Bitcoin manipulations can happen in milliseconds, controlled by complex trading programs without human interference. One moment is all it takes for someone to lose everything they have, and more, on the Bitcoin exchange.

....

There is an irony in a currency which was closely associated with Occupy Wall Street now being embraced by the very institutions it stood against. That the cryptocurrency markets did not respond with alarm is even more telling. The users of Bitcoin are about to be taken for a ride, and they are in effect handing over the car keys to do so.

So, it should be said that Bitcoin is indeed an ideal example of Libertarian ideas at work, because this is what happens every time. Pity they wont wake up and realize that the very core of their ideas will never work, because once they prove it works, the very nature of Libertarianism enables a minority to take over of the idea, and monopolize it, denying it to others. Then that monopoly will exploit and abuse those who use it.

Source:
http://kstreet607.com/2015/05/20/wall-street-preparing-to-steal-billions-from-gullible-libertarians/

As i've said many times before - i think bitcoin was a rebellion against the existing financial system with very good and valid reasons (It's introduction in 2008 is no mere coincidence). By not honoring that it's simply going to fall victim to the very same system it rose up against. Sometimes, not playing by the rules is a necessary and required thing. (A high risk with even higher rewards -- certainly was in Bitcoins case)

I think the "compliant" route is naive and will result in the downfall of any crypto that attempts to do it.