Quote from: vsyc on May 13, 2017, 05:47:39 PM

Quote from: randomdude on May 12, 2017, 11:58:22 AM

Bitcoin* has a real potential to change the world. It came out of nowhere some years ago and said - look, people can now send monetary value to each other without trusting each other and without requiring a trusted third-party to settle their transactions. This is huge.

Are you dead serious here? Bitcoin came from nowhere? Nothing comes from nowhere, same you can state that iPhone came from nowhere, or internet came from nowhere, go educate your self in this matter.

No third party, so who makes sure that double spend does not appear? who can do 51% atacks? No third party, god damn, take any bank split it to three separate entities and the same "decentralisation".

No trusted third party. You don't need to trust the miners. You validate their proof of work mathematically.

Quote from: vsyc on May 13, 2017, 05:47:39 PM

Quote from: randomdude on May 12, 2017, 11:58:22 AM

Bitcoin delivers on this promise and slowly but surely democratizes our financial systems, making them both global and censorship-resistent. It takes the banks out of business because we now have the means to store our coins on our own private devices (laptops, mobile phones, etc) and transact with each other without a trusted intermediary.

Banks can act as investors to your so called democratic coin and pump & dump it as much as they want, so you can store it anywhere you want. Same with money, you can store the either in bank or under the pillow, does change that it all goes to central bank in regards of regulations.

They can act as investors but cannot act as regulators or policy makers. That's a significant improvement already.

Quote from: vsyc on May 13, 2017, 05:47:39 PM

It requires for open-source one smart exploit to hack in whatever way, Capische? You can call it transparency or whatever you like it, but I prefer private Git ripo dudes.

I prefer to have access to the code that's managing my money. Exploits happen less often when the code is public. Hint: Linux vs Windows.

Quote from: vsyc on May 13, 2017, 05:54:12 PM

After Gox, Bitcoin lost trust and price, this is the point, without regulation, you on your own and its about you to create demand and price and prove it worth it (has value), so again where is decentralisation and blah blah?

Don't assume that the regulatory forces are always benevolent. Every once in a while it so happens that their best (market) interests might just as well collide with your best interests (hint: the financial crisis in Greece).

Quote from: ThomasVeil on May 13, 2017, 01:55:55 PM

Their business model is selling marketing BS. First to banks "hey you can use fancy blockchain-tech"... which already doesn't make any sense. They just profit from the fact that banks don't know what crypto means.

Oh banks have big incentives to adopt blockchain ledgers: cut down the infrastructure costs by distributing their databases, replace human capital with smart contracts, and stay in the exact same business while posing as innovative and forward-thinking Cool

randomdude

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