Quote from: jgarzik on December 03, 2010, 06:35:10 PM

Quote from: tyler on December 03, 2010, 04:04:29 PM

Quote from: Cryptoman on December 03, 2010, 03:59:21 PM

What about Pecunix? The transaction fees don't seem to be that bad.

pecunix is cool, but its a pain in the ass to setup an account and use it

I think the exact opposite -- creating a Pecunix account is free, and all it requires is filling out several HTML form fields. Couldn't be easier.

Using the "Payment PIK" is slightly more annoying, but not much so.

Pecunix is the best digital currency system. Sidd has always supported PGP and the slightly annoying "PIK" validation system is immune to keylogger trojans. Full automation is possible and the staff are ever vigilant for new scams.

Even if Bitcoin goes where we want it to, Pecunix will always be a better store of wealth. We need different kinds of money for different reasons.

You can't directly compare Liberty Reserve with Paxum. LR is a digital currency and Paxum is a payment processor.

Paxum is a vector for the currency called USD - a national fiat.

Liberty Reserve is a privately issued currency, and although it is 'value pegged' to the USD, it is not USD.

The legal implication is important to our purpose. I like to explain it this way;

You cannot deposit a LR$ to your bank account and you cannot deposit a USD$ to your Liberty Reserve account.

When we trade using fiat money, we are contracting with the issuing state. I would rather contract with my friends in Costa Rica than with the evil empire in Washington. This tacit agreement has been a weak point in online payment system and the only ones who can survive are the bitches like Paypal who suck the USD (Uncle Sam Dick).

Dirty corrupt systems attract dirty corrupt (mis)users. You really can't compare LR to USD without understanding this important distinction.

And then there is Pecunix which is golden!