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re: 40% of Bitcoin Exchanges Fail; only 30% of those refund your Bitcoins...
Posted on 4/29/13 at 4:43 pm to WikiTiger
Posted on 4/29/13 at 4:43 pm to WikiTiger
quote:Absolutely not. However, the insurmountable obstacle I see is dispute resolution. There will always be disputes, and without an enforcement mechanism with widespread acceptance disputes can not be resolved in manners that will be satisfactory to potential users. That will always be the stumbling block for any decentralized currency.
If that happened, do you think that the idea of a decentralized digital currency will die with it?
1
Posted on 4/29/13 at 4:50 pm to Poodlebrain
quote:
However, the insurmountable obstacle I see is dispute resolution. There will always be disputes, and without an enforcement mechanism with widespread acceptance disputes can not be resolved in manners that will be satisfactory to potential users.
I'm not sure why courts wouldn't enforce a contract denominated in bitcoins. Unless the contract itself is illegal (which is really bitcoin's primary use rigtht now).
But assuming wiki hates courts as much as he hates all other sorts of governmental entities, I assume the answer is something like "well if you break contracts it will become known and in the future people won't contract with you." That or kneecapping.
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