Quote from: bitcoinwatchdog on May 24, 2013, 05:58:28 PM

I believe a trust system for BitCoin is an excellent idea. It's always important that a trustworthy individual or company is running the system though, I am correct?

A lot of the trust about BitCoin services seems to come from this forum. It seems that this forum is THE trust factor.

I kinda had an Idea I was bouncing around about this, and was even considering opening up a money exchange here in the states where people could open a "Checking account" which could actually buy and sell bitcoin transactions as well as USD and provide a low cost reliable way to exchange into and out of bitcoin.

This is the biggest problem I see with the currency - If you wanna be apart of the game these days, you have to have been a miner from the good ole days, spend several thousand to buy some equipment that is already being outdated, or go to shady dealer sites located outside of the states... like BTC-E - give them your money, and hope... keyword "hope" they will honor the transaction and exchange it for BTC. (Already lost $200 to these guys, but that's another story) and then its a pain to exchange out unless you use a costly bank wire to withdraw funds or a two stage service like dwolla to get the money out.

I know bitcoin is trying to stay completely decentralized but like it or not, until we can get people to widely adopt the currency, we are going to have to tether to the various currencies out there in order to gain the trust of the less technically inclined.

Would love to begin a discussion about this... Any thoughts?