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Message
re: Bitcoin Casinos Release 2012 Earnings
Posted on 1/22/13 at 4:45 pm to WikiTiger
Posted on 1/22/13 at 4:45 pm to WikiTiger
quote:
So, you don't even really need to trust the gambling sites that much except with what you are planning to gamble with that day.
Because gambling sites don't ever cheat, right?
The beauty-or pros-of Bitcoin are accompanied by spectacular risks-or cons-themselves. If you get your hard-drive fried and are in a foreign country where they drop the firewall, your precious bitcoins are not accessible and in the here and now that you'd be in at that moment, they're absolutely useless.
They can't be used in any real sense because they can't be controlled. They are the ultimate double-edged sword.
Their usefulness is derived from their uselessness, and that's what will keep them fenced in on the periphery for a long, long time to come.
1
Posted on 1/22/13 at 5:12 pm to GFunk
quote:
Because gambling sites don't ever cheat, right?
The beauty of bitcoin gambling sites is that depending on the game, they are provably fair, thanks to the blockchain.
quote:
If you get your hard-drive fried
There are many ways to protect yourself from this, such as: trusting a third party (like people trust banks now), backing up your private key(s), printing your private key(s), using seeded wallets, etc.
quote:
in a foreign country where they drop the firewall
yes, admittedly totalitarianism is a threat to bitcoin
quote:
They can't be used in any real sense
They are being used in a very real sense as I type this. And the economy continues to grow every month. I don't know why you'd make a statement like that.
quote:
Their usefulness is derived from their uselessness, and that's what will keep them fenced in on the periphery for a long, long time to come.
I strongly disagree with you.
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