Quote from: HoodRich on June 30, 2014, 01:24:55 PM

Quote from: cryptodevil on June 30, 2014, 01:19:36 PM

Quote from: battbot on June 30, 2014, 01:11:51 PM

This is part of the reason I don't understand quite understand the hype around veribit. People are saying it makes things so much easier, but does it really?

If you don't understand why VeriBit is adding extraordinary value to this coin then that might explain why Cinni is going nowhere. People value convenience. It is an extremely drawn-out and pain-in-ass process to have to transfer coins from your wallet, to an exchange, get a price you want at the time you need it to get BTC and then send those BTC somewhere else.

Instead, you get to keep your BTC in VRC, earning interest while they sleep and, on the occasion you might want to make a small BTC purchase, you can do it in a couple of clicks with no faffing about.

Yes, I know, larger transactions would be better served doing it yourself on an exchange, but people don't spend money in large transactions all the time, they tend to do so in the way that most people spend money, in lots of little transactions, the kind that are perfect for VeriBit.

The wilful nature of the "I don't get why VeriShit is so great!" is starting to wear thin. It is perfectly clear why it is extremely useful a function to have and it is one that is no more centralised than having to send your coins to an Exchange. We all know what can happen to exchanges, so the less money held there, the better.

It like someone walking into Subway saying "Why is Subway so Great? I can make my own sandwich" Grin

... or Starbucks or McDonalds...

Do you grow your own corn and wheat too and make your own cereal, chips, butter, etc...? or do you go to the grocery store?

Do tell... Grin

These are not analogous at all.