Good question right there.

I have a bank account. And whenever I log into my account I am not in charge of anything anymore. The bank asks me all sort of questions. Like do You want a loan? Maybe you should consider our brand new car insurance? No?! Ok, in that case don't forget to read and agree to our new terms. We changed them third time this year. Don't worry it is perfectly legal and normal. Just accept and welcome to your bank account! And by the way. Our consultant will contact you later in case you changed your mind.
This is a bit exaggerated on purpose, but in principle this how it works. I have money and I have to deal with these sort of things?! Really?!

As you mentioned using Bitcoin can be cumbersome for less technically proficient people. But once you taste the freedom it gives you, You will find banking disgusting, intrusive and silly.

There is more to it. Like protection from inflation. Or like I believe that the technology will unlock new wonders -- the Lightning Network will allow to stream money in real time so you could be getting your salary every second, bit by bit and instantly use what got accumulated without waiting for payday.

So yeah, I want to see world changed by it with time. Just like Linus Torvalds' invention changed computing for the better!

Does that answered your question? I hope so :)

No, it's a thread where people who don't understand how it works build strawmen and attack them. If you actually wanted to know how digital currencies and cryptocurrency works, you'd want to look at stuff like European Central Bank analyses or, if that's too much heavy reading for you, some recent news stories that come with citations.

I read the first few post and it is silly to say the least. I urge you to spend some time on your own research and investigate further. The technology is amazing and it won't hurt you to acquire some knowledge about it. So you will be able to make your own decision instead of repeating others'.

I am not asking anybody to invest or anything like that. In fact back in the 90' I urged my friend to check this new technology called internet. I lend him my modem and I was so sure that he will be very glad I helped him. What could go wrong?!
After a month he (and I) was in trouble because he got a huge bill to pay (for newbies: internet back then was billed for the amount of time spent online). So the bottom line here is that it was difficult to connect to internet back then and he was not prepared and there were consequences.

If you find the Bitcoin difficult to grasp just don't touch it yet. But be aware that it is a huge thing.

To answer SarahAustin post, you clearly have the least amount of knowledge in here. And you clearly know less than John Snow which is nothing.

Cheers :)

White Papers

For anyone who doesn't know what it is but curious enough to find out.

Because bitcoins work like cash, the other party fully gets what you pay. There's no intermediate company, which you have to use for the transfer, which adds their fees on top of every bill you pay.

Thats every currency thats not linked to a actual valuable. Only difference with BC is that its not controlled by a government. Highly volatile but incredible interesting to watch.

582 pages? I assume you meant "skimming through"? ;P

There are all kinds of things wrong with this whole paragraph.

Sorry to hear that. I am doing my best to write readable English :)
But still long way to go.

Hunch isn't notoriously pedantic, so I suspect he's referring to your logic. Your English, for what it's worth, is really quite good and easy to understand.

You start with an implicit truth that isn't well demonstrated (a priori, or begging the question, I'm not really sure) - that ransomware attackers are clever. You then say that using BitCoins is good for clever people because using BitCoins is good for the ransomware folks - that's where your first assertion causes trouble. It's also informally poor to assume that most people should want to do something that criminals do, since generally most people probably want to not be criminals [citation admittedly needed]. You then slide along to "if it's good for them, why not be good for me?" which, since you started with a logically unsound premise, isn't really convincing.

You just could have made a better argument in favor of using BitCoins, that's all.

deuteros, you are going about this all wrong.

The advantages of bitcoins that I'm aware of are these:
1) Decentralized. How you take advantage of this I suppose might require some knowledge.
2) Almost-instant transfers. You can add a transfaction fee (very small, like 0.1%) and it's prioritized in the mining network.
3) Tradeable. This also requires knowledge and even effort and time, not really the point for the general public.

The main down side right now is that too few services out there are accepting bitcoin as a payment method, but it seems to slowly increase as time goes by.

Essentially, if your every day payment transfers are quick enough with low enough transactions it's not really useful at the moment.

I know PT Barnum never actually said it, but it's the truth anyway:

A Sucker Is Born Every Minute.


No way will GOG touch bitcoin;bitcoin's rep as being mainly used for criminal activities...(and those activites go way beyond buying drugs) will keep them from using it.

Grrrgh, It's hurting me even more! Do I have it all wrong?! Can't believe this opinion.

I was trying to counter nightcraw1ler.488's argument that since ransomware hackers demand Bitcoin it must be illegal.

I dismissed his logic saying that criminals even more often use dollars than Bitcoin and that doesn't make dollars illegal.
The part where I wrote about cleverness of these hackers was just an addition to that. I still support what I've said because those hackers don't use let's say Linden Dollars and since they are technologically proficient to carry these ransomware attacks they must be somewhat right on choosing best technology.

But let's forget this spaghetti of mine and put it down differently.

By any means I didn't say that Bitcoin is useful because hackers use it.
Quite opposite - Bitcoin is useful so hackers decided to use it (rather than something else).

More importantly I started this thread to see if there is support for Bitcoin payments. Some people came by and tried to bash the idea with some FUD they had heard here or there so I decided to be kind to them and faithful to Bitcoin community and enlighten these people a tiny bit. Hopefully they will find my service useful in their lives :)

The three reasons you provided I find them to be all fair.
I can add things like portable, provably scarce, transparent, borderless, permissionless, programmable and sound.
Quite a lot to digest for gamers in here, so yeah let's stick with the basics :)

Bingo. Though you stated it both more "academically" and more charitably than I would have.
"Smart = good; criminal is smart; therefore, smart criminal is good" is both logically and ethically...problematic.

But, yeah, him English real good. =)

I did my research. It's a reverse funnel. Turn it upside-down. You'll see.

The people who developed this and their circle of friends got the lions share, there's a hilarious amount of loss that occurs if a server is raided, is shut down, or is otherwise taken offline, if your wallet vanishes, your two bits vanish with it, and the entire currency is based on wasted electricity and mathematical hashes; power which could better be suited towards protein folding or discovering a way to make better solar arrays, and somehow this magic snake currency is deflationary based on the limited nature, even though a quantum computer could break the currency in half, even though that'd be a complete WOMBAT like bitcoin itself is.

No, not all wrong, going about it the wrong way. :p


Yes, but that's geeky stuff that most people either assume is supposed to "just work" or can't really use it without an actual interest so I didn't really include them.

The technology behind the block chain, the public ledger that makes all bitcoins visible, is ground breaking. It's a pity most people (including institutions of all levels) are too conservative but if it works it will happen eventually, hopefully.