Post
Topic
Board Development & Technical Discussion
Re: New transaction malleability attack wave? Another stresstest?
by
coins101
on 05/10/2015, 20:44:32 UTC
...
OK. So my reason is to protect your life savings from this ponzi scheme called bitcoin Smiley
.....

You are confusing the price volatility of bitcoin with the utility of being able to transact internationally without the pain of banks or middle men.

For example: one of the problems to be figured out is how to get money across borders so that poor people can get the money they need without having to spend the whole day travelling from a poor village with no infrastructure or services to a town where they wait in line to get some money.

$100 goes to $85 after WU and middlemen have taken their cut at the sending end; goes to $75 after the person at the other end has traveled to pick-up their money and made the conversions. When you are poor, that loss of nearly $30 is a lot of money.

Stress testing of any kind is good. Problems will eventually find a solution where there is a need.

Analogy - why do people ask singers for their political views, like having a good voice somehow makes you a political genius?  Same goes for technical capability and economic / price speculation.