Think I might give in over the next few days and buy a few coins.
Good luck 8)
Wish I had the ability to mine them
Think I might give in over the next few days and buy a few coins.
there can never be any real value.
Even the outlets that accept them are scammy.
If something is backed by nothing, then they can not have any real value, so they will always go pop.
Just another internet scam in disguise.
What is to stop someone offering a bitcoin escrow.... surely this means you can get money in and out without many problems?
So in affect, a currency on top of a currency... surely that can't be banned.
Do you mean a site that essentially holds your bitcoins for you?
Very interesting article about a major flaw inherent in the way Bitcoins work...
http://www.newstatesman.com/economics/2013/04/bitcoin-hyperdeflation
Read the article. First part is a very sound argument. If value of your bitcoin is going up by 10% a week you are really not going to spend it are you? And if folks stop spending them, then crash is simply a matter of counting the days.
That's fair enough. Bit about criminality is usual propaganda. The press shouldn't even use the word criminality anymore. Was looking at the list of major banks under investigation and it covered just about every major household name. Funnily enough this is promoted by the press as failures in regulation not outright criminality. The totally of fines so far accrued must top 10billion dollars and there's still major investigations underway.
But point that's missed is the first embodiment of an idea usually fails.
It's the second and third and 4th embodiment that truly matter.
As we speak no doubt folks are working on an alternative to bitcoin without these inherent flaws. The idea itself is in principle sound.
Nope, it wouldn't need to get involved in anything to do with any bit coins. How it would work would be....
Person A agrees to sell something (could be unicorns for all anyone cares) to person B. Person B gives the money to the escrow type company.
Excrow type company tells person A that person b has paid and to hand over the unicorns to person B.
Person B then tells the escrow company that he has his unicorns and to release the money to person A.
----
I don't see how something like that couldn't work due to legal reasons. It's a legal way of getting cash out of the network. The Escrow company never touches any coins or unicorns or whatever the product is.
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