That was kind of my whole point. Sure a bank could literally say that but they wouldn't because the whole FDIC system is there to prevent the need.
There hasn't really been a banking hack to that scale but I'll bet anything they have mitigation plans in place to make sure it does not affect that confidence I spoke of above.
If one of these exchanges tried to operate openly and got insurance (if they could) then people would be a lot more secure because the insurer would make damn sure they are doing things as close to perfect as possible.
"Jumping out of the frying pan and into the burner" adequately describes your position.
Currency is at its basis is valued in confidence. By that measure bitcoin not very competitive with almost any currency in the world.
My dollar means nothing to me because it can't be counterfeited and/or anonymously transmitted. It matters because when I head to the dealership to buy a car the value doesn't go down by 40% while I am finishing the paperwork, and also because when I go to the bank to withdraw it they *can't* say "sorry we got hacked, follow our twitter feed for updates".
Uhhh, no it's their broad statute that covers fraud:
"419. Any person who by any false pretence, and with intent to defraud, obtains from any other person anything capable of being stolen, or induces any other person to deliver to any person anything capable of being stolen, is guilty of a felony, and is liable to imprisonment for three years.
If the thing is of the value of one thousand naira or upwards, he is liable to imprisonment for seven years.
It is immaterial that the thing is obtained or its delivery is induced through the medium of a contract induced by the false pretence.
The offender cannot be arrested without warrant unless found committing the offence "
The parent to yours was spot on. The fraud associated with bitcoin et al; is no different than any other really. It's just the globalization of it and the semi-anonymity that makes it ripe for abuse. That's why the whole thing is so silly when people point out the lack or regulations and centralization as a benefit. It's the main neon sign drawback.
Police want to be able to (without warrant or cause) track you, record you, search you, go through your cell phone, and whatever else the fancy at the moment but once there is the slightest attempt at any monitoring or oversight of the police they go apeshit about their rights and their safety.
It's so backwards it's almost a parody of the intent of the constitution and government accountability.
You may be the stupidest registered user I have had to deal with.
Those headlights coming at you at 11PM might be a smoker, drunk person, or drug addict. Pick one.
Fight your tobacco cause you idiot, BTW a lot of really hardcore smokers are ex drug and alcohol users, tell those horrific people they should go back to alcohol and/or drugs because "ewww it stinks".
Alcohol? Great as long as you don't drive, don't urinate in public or start a drunken brawl. Drugs? Great as long as you don't end up sitting in the ER on public dollars, or don't go on a lunatic stabbing rampage. Smoke is probably the worst of the lot in terms of the number of people it affects. It smells foul (opinion) and it's bad for your health just being in the same room or general vicinity as someone who's doing it (fact).
Did you type that with a straight face? The sociological and economic impact from alcohol and drug abuse is so massive and ubiquitous it's pretty much impossible to be quantified.
What you are saying is: "I'm ok with these things when I remove the horrific aspects of them, but not with smoking."
There's like a million arrests per year for DUI (just the people who get caught), but let's focus on that terrible smoker doing things that you don't like.
That's a good question. I would think it wouldn't be a large percentage.
Sure like 50% of Americans have 401k's etc, but actual capital gains/losses? I would guess that number is pretty low and probably a large part of the development for the software since it can be so complex versus your straight 1040a/ez filer.
I highly doubt Breaking Bad would have been the show it was had any other network taken it. AMC floundered for years until they had the eyeballs enough to justify investment in a show.
Is exactly the type of "nickle and dime you to death" he is speaking of. You have to pay for baggage, seat choice, etc, etc. Just because there are worse things doesn't make spirit a good example. Their seats are abysmal and they are champions of the race to the bottom.
...work to prevent that nonsense. It's not a perfect system but the good thing is that there is a regulatory body that can fix the bad parts (if it wants to by choice or by will of the people).
With bitcoin it's "love it or leave it".
Sure you can say bitcoin is not the problem it's the businesses handling them but when the defacto standard is amass and implode it's a symptom of bitcoin because other currencies don't seem to have that issue.
That's like saying pink sheet/OTC stocks are preferable to NASDAQ listed because "no technology is perfect".
Bitcoin has a couple good features but the lack of regulation/oversight/accountability outweighs all of them. I'd rather use carrier pigeons to move cash.
Slashdot Mirror
Really, it's what happens when you politicize a topic. All of the facts fly out the window and it becomes special interest and ideology.
It's the epitome of Colbert's 'truthiness' about the way he feels in his gut about the facts.
You say that like it's a real thing with alcohol.
The reality is that the needle pretty much swings right or left.
"we are working as fast as we can to re-enable the 207 million phones disabled in last nights vicious attack on 'merica"
It's a good thing bitcoin will be there to show people what the stability of a crypto currency looks like:
http://bitcoincharts.com/chart... .
Yup no one there lost anything, but I guess when the "free market" bends you over it's ok because.....
That was kind of my whole point. Sure a bank could literally say that but they wouldn't because the whole FDIC system is there to prevent the need.
There hasn't really been a banking hack to that scale but I'll bet anything they have mitigation plans in place to make sure it does not affect that confidence I spoke of above.
If one of these exchanges tried to operate openly and got insurance (if they could) then people would be a lot more secure because the insurer would make damn sure they are doing things as close to perfect as possible.
"Jumping out of the frying pan and into the burner" adequately describes your position.
Currency is at its basis is valued in confidence. By that measure bitcoin not very competitive with almost any currency in the world.
My dollar means nothing to me because it can't be counterfeited and/or anonymously transmitted. It matters because when I head to the dealership to buy a car the value doesn't go down by 40% while I am finishing the paperwork, and also because when I go to the bank to withdraw it they *can't* say "sorry we got hacked, follow our twitter feed for updates".
Uhhh, no it's their broad statute that covers fraud:
"419. Any person who by any false pretence, and with intent to defraud, obtains from any other person anything capable of being stolen, or induces any other person to deliver to any person anything capable of being stolen, is guilty of a felony, and is liable to imprisonment for three years.
If the thing is of the value of one thousand naira or upwards, he is liable to imprisonment for seven years.
It is immaterial that the thing is obtained or its delivery is induced through the medium of a contract induced by the false pretence.
The offender cannot be arrested without warrant unless found committing the offence
"
The parent to yours was spot on. The fraud associated with bitcoin et al; is no different than any other really. It's just the globalization of it and the semi-anonymity that makes it ripe for abuse. That's why the whole thing is so silly when people point out the lack or regulations and centralization as a benefit. It's the main neon sign drawback.
Police want to be able to (without warrant or cause) track you, record you, search you, go through your cell phone, and whatever else the fancy at the moment but once there is the slightest attempt at any monitoring or oversight of the police they go apeshit about their rights and their safety.
It's so backwards it's almost a parody of the intent of the constitution and government accountability.
You may be the stupidest registered user I have had to deal with.
Those headlights coming at you at 11PM might be a smoker, drunk person, or drug addict. Pick one.
Fight your tobacco cause you idiot, BTW a lot of really hardcore smokers are ex drug and alcohol users, tell those horrific people they should go back to alcohol and/or drugs because "ewww it stinks".
And someone modded you up? WTF?
Alcohol? Great as long as you don't drive, don't urinate in public or start a drunken brawl.
Drugs? Great as long as you don't end up sitting in the ER on public dollars, or don't go on a lunatic stabbing rampage.
Smoke is probably the worst of the lot in terms of the number of people it affects. It smells foul (opinion) and it's bad for your health just being in the same room or general vicinity as someone who's doing it (fact).
Did you type that with a straight face? The sociological and economic impact from alcohol and drug abuse is so massive and ubiquitous it's pretty much impossible to be quantified.
What you are saying is: "I'm ok with these things when I remove the horrific aspects of them, but not with smoking."
There's like a million arrests per year for DUI (just the people who get caught), but let's focus on that terrible smoker doing things that you don't like.
Well there's an angle I haven't seen before. What is alcohol then, like polio?
Your thought process is scary at a minimum. It does give some insight into how horrible ideas take root once you demonize something/someone though.
Pay whoever runs the ads some money?
"And nobody found it problematic back then."
Umm yea, people did they just couldn't conceive of a better solution until wireless came around.
Wired phones weren't found problematic and now people scoff at the thought of using such barbaric technology.
I'm already using both of them for my Gamepad and soup warmer.
I was told bitcoin was perfect conceptually the only issue is with the businesses/exchanges/etc? What gives?
Then again this guy sounds like he knows what he's talking about, I'm all in!
Pretty much:
http://www.fool.com/retirement...
That's a good question. I would think it wouldn't be a large percentage.
Sure like 50% of Americans have 401k's etc, but actual capital gains/losses? I would guess that number is pretty low and probably a large part of the development for the software since it can be so complex versus your straight 1040a/ez filer.
...or if 40$ hurts that bad maybe reconsider your self employment and/or investments.
Well at least I can directly profit from my vote instead of giving it to an R or D to sell to the highest bidder.
Why would they do all that instead of just put access lists at the edges?
AMC.
I highly doubt Breaking Bad would have been the show it was had any other network taken it. AMC floundered for years until they had the eyeballs enough to justify investment in a show.
Is exactly the type of "nickle and dime you to death" he is speaking of. You have to pay for baggage, seat choice, etc, etc. Just because there are worse things doesn't make spirit a good example. Their seats are abysmal and they are champions of the race to the bottom.
...work to prevent that nonsense. It's not a perfect system but the good thing is that there is a regulatory body that can fix the bad parts (if it wants to by choice or by will of the people).
With bitcoin it's "love it or leave it".
Sure you can say bitcoin is not the problem it's the businesses handling them but when the defacto standard is amass and implode it's a symptom of bitcoin because other currencies don't seem to have that issue.
That's like saying pink sheet/OTC stocks are preferable to NASDAQ listed because "no technology is perfect".
Bitcoin has a couple good features but the lack of regulation/oversight/accountability outweighs all of them. I'd rather use carrier pigeons to move cash.