Quote from: Beliathon on May 23, 2014, 08:38:58 PM

Quote from: jcoin200 on May 20, 2014, 07:59:42 PM

When explaining bitcoins advantages over cash to someone else, there are a few things that come to mind:

1. They cannot be counterfeited
2. Can be sent anywhere in the world with no (or very very low) fees
3. Mining fees dont go to big banks
4. Low transaction fees, coinbase estimated bitcoin could reduce payment processing fees worldwide from $500 billion to $50 billion, so 1/10th of current level

Yeah.

In the near future, cryptocurrency will make theft impossible and irrelevant. The blockchain will also become a tool that assists humanity's transition from capitalism to post-capitalism, though I'm not sure precisely how.

For me that second point is the holy grail of this direction in technology. It's survival. It's ascension out of the hell of our contemporary neo-feudal existence.

The dark ages of illiteracy and superstition ended a long time ago. But the far longer dark age of deception, exploitation, and self-destruction is only now just beginning to end. Thank fuck for the internet.

Can you please explain how Bitcoin makes theft impossible when there are multiple companies being charged right NOW with theft of Bitcoins? Trendon Shavers. BFL. Mt. Gox. And there's more.

If anything, theft is *easier* with Bitcoin because there's no trace of who stole it (and they can mix coins to keep them hidden).