Quote from: e521 on December 13, 2013, 12:36:57 AM

Quote from: Anyone on December 13, 2013, 12:01:26 AM

[quote/]That's not entirely true, bitcoin the currency can be used side by side with FIAT for example to fight iper inflation.
At the moment is very difficult to buy cryptos and only a fool would spend mined coins seeing the long term trend.
And how would you deal with irreversibility with internet transactions?

Only a fool... so you dont agree that the use and circulation of Bitcoins has anything to do with its rise/fall in value? I know it does with paper moneys, why are Bitcoins different?

Irreversibility is simply a matter of regulation and choice. At some point, those seeking more secure comerce methods will develop methods to send and receive, and receipting systems, and identification systems (Coinbase already uses bank account connections, probably others do too) Those seeking less regulation "cash economy" would simply not use regulated systems. Why is that complex?

Yes I don't agree with the simple fact that BTC is not backed by anybody, it's a speculative "commodity".
And yes, it is complex as I need to trust an unknown 3rd party. It's not like using a Visa, Paypal or Mastercard
[/quote]

I dont know how to respond to the first part of your statement: Yes I don't agree with the simple fact that BTC is not backed by anybody, it's a speculative "commodity". since my statement was original post was that the concept of using it as a commodity is contrary to its purpose as a currency, but as for not being backed by anybody...in any logical trading sense, that's exactly WHY its nuts to use it as a commodity... (isnt it?)

As to your scond sentence...IF..or example..IF there was something like a Coinbase wallet, where I can connect my bank account and this same account can run my mastercard (debit) and if Coinbase had a 100 point verifications system and a separate (static) wallet (oh wait...do they already do it that way??? anyone wiser know?) ..anyway, if they verified my identity the way banks/visa/bankers/governments say so, you would still consider Mastercard/Visa to be safer on the internet? Or (shudder) PayPal?

*random rant (If your crawler scum are reading this PayPal I curse every cent you get from me, you thieving government puppets!) *end rant.

I agree we will always disagree Sir x

Anyone

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