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re: And So It Begins: Bitcoins seized by DEA
Posted on 6/24/13 at 8:50 pm to Vols&Shaft83
Posted on 6/24/13 at 8:50 pm to Vols&Shaft83
I'll just jump in to say that taking Wiki at his word he never claimed (or intended to claim) that bitcoin had the virtue of anonymity, that leaves a very major question.
What's the appeal? It can be transferred electronically to any point on the globe just like the dollar, it can be tracked just like the dollar and it obviously isn't safe from any governmental interference just like the dollar. Plus, not everywhere accepts it as a form of payment, which is very markedly unlike the dollar.
I can certainly see the prospective appeal of a bitcoin future in a world without borders sort of way but nobody has really laid out a practical framework how we get to there from here, beyond a nebulous confidence that "eventually bitcoin or somebody else will figure it out".
What's the appeal? It can be transferred electronically to any point on the globe just like the dollar, it can be tracked just like the dollar and it obviously isn't safe from any governmental interference just like the dollar. Plus, not everywhere accepts it as a form of payment, which is very markedly unlike the dollar.
I can certainly see the prospective appeal of a bitcoin future in a world without borders sort of way but nobody has really laid out a practical framework how we get to there from here, beyond a nebulous confidence that "eventually bitcoin or somebody else will figure it out".
This post was edited on 6/24/13 at 8:53 pm
1
Posted on 6/24/13 at 9:29 pm to Walking the Earth
quote:
What's the appeal?
There are many things that appeal to people about bitcoin.
quote:
It can be transferred electronically to any point on the globe just like the dollar
Sure, but unlike the dollar, that transaction can be person-to-person without relying on a third party, it can be done at any hour of the day, on any day of the year, and the transaction is instant (unless you insist on waiting for confirmations, which take about 10 minutes each - so, for a 6 confirmation transaction, you would wait an hour. But this is not necessary. It's the choice of the receiver.)
quote:
it can be tracked just like the dollar
Not quite. Please see my post above.
quote:
it obviously isn't safe from any governmental interference just like the dollar
What do you mean by that? I think I disagree.
quote:
Plus, not everywhere accepts it as a form of payment
This is true.
quote:
I can certainly see the prospective appeal of a bitcoin future in a world
If you truly could see that, then you wouldn't be asking the questions you did above.
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