Quote:
Originally Posted by Hehe
The thing here is fundamental flaws in Btc nature. We can argue all we want, but the fact is, the only way to securely use Btc is in p2p setting as you suggest. Which in term implies that it can never become a mainstream instrument as the idea of money was a tool to facilitate trades. If the only way to spend this "money" is that the other party must be willing to accept it, (as it is dangerous to trust an exchange with it), this money isn't exactly useful. With cash, I can always bring it to a bank to deposit it. I know they will happily take it and I don't have to worry of this bank disappears overnight.
I make my opinion based on facts about Btc. It is a great idea. But it would take a perfect world for it to function properly. Otherwise, these features (notably the fact of being unregulated and untraceable) become fundamental flaws.
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Yes,
this is much better
Bank nearly goes bankrupt, is deemed "too big to fail" Government bails them out with £46 billion from the taxpayer who has no choice in the matter. Bank then loses that £46 BILLION. Of course this doesn't include the £576 million that was set aside for executive bonuses.. they still got those of course.
When something bad happens at an poorly run exchange, people stay the hell away and find someone else to deal with. When this happens with a bank, regulations kick in and take people from the money for the bank to lose all over again.
And let's not even get started with how fucked wall street is.
I understand that change is a scary thing. However the paradigm needs to shift, IMO.