battani

6 ms·

1.
by battani 12y ago
> Your credit card is where your wealth is stored. Your credit card is just a means of payment (a key). Your wealth is stored at your bank. All these merchants may have your bank keys, but they can't use it to charge you illegally b
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by battani 12y ago
Facepalm. I can pick 20 small cap stocks that have outperformed the dollar over the past year. That only makes them a good savings vehicle in hindsight. Confusing short-term speculation with sustainable added value here.
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by battani 12y ago
> So chargebacks due to fraud simply wouldn't be there. That is far from the only reason there is credit card fraud. Actually most credit card fraud is linked to identity fraud (a hacker stealing someone's financial credentials
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by battani 12y ago
1. Check out Stellar and Ripple who solve this better than BTC. 2. Is a volatile virtual currency powered by market speculation the best alternative for inflation-ridden currencies? I facepalm every time I hear this argument. 3. and 4. Agre
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by battani 12y ago
Large retailers like Amazon don't save on their margins if they start accepting BTC because 1) BTC won't be used by any significant number of their users 2) they already get special discounts for CC processing from companies like
6.
by battani 12y ago
This is something they unfortunately do not address, but it's the biggest problem with such systems and a major part of the reason Ripple hasn't caught on.
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by battani 12y ago
If your money transfer model includes gateways, then trust is involved. You have to trust the gateways (local banks or exchanges) to make the conversion. The gateways on each end would also want to take a fee. Add to that the (MASSIVE) co
8.
by battani 12y ago
> Well Dell wants to promote the currency Dell wants to promote Dell. And the Alienware promotion? Alienware is used primarily for video gaming. There's quite an overlap between the demographics that play video games and own bitcoin
9.
ISIS: Bitcoin Can Fund Terrorist Movements Worldwide(coindesk.com)
1 points by battani 12y ago|0 comments
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by battani 12y ago
What will the government do with Bitcoin the day a report comes out that American citizens have been killed in a terrorist operation financed by bitcoin?
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by battani 12y ago
If you want freedom, learn how to algorithmically trade Forex. Edit: Downvote? I'm serious about this. Trading is the only activity I know that gives you 1) income 2) no boss to report to 3) no employees to take care of 4) location fre
12.
by battani 12y ago
There are many more recent articles on the same topic — internet technology may have changed a lot, but consumer behavior hasn't. Consumers still want simple and predictable pricing. When's the last time you paid at a paywall? I
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by battani 12y ago
Yes I agree that bitcoin could be useful to the unbanked or in high inflation countries. I don't have enough knowledge of those markets to elaborate. I was answering the author who was advocating bitcoin's ease of use as compared
14.
by battani 12y ago
I guess your argument is then about security. Your funds are as secure as whoever is holding them, whether it be in bitcoin or regular fiat through CC. If you place your bitcoin on Coinbase, Bitpay, an exchange, or even on your own local wa
15.
by battani 12y ago
True. But a lot of merchants are moving away from this model anyway because it turns out consumers hate micropayments online. http://www.openp2p.com/pub/a/p2p/2000/12/19/micropayments.ht... Man
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by battani 12y ago
Yeah I mean those are some problems but they're 1) not huge and 2) I don't think creating and adopting a volatile virtual currency is necessarily the best solution to those problems. "I don't need to memorize an arbitrar
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by battani 12y ago
"Second, because convert-transmit-unconvert still bypasses many of the painful aspects of other money transfer mechanisms." Using a credit card online or 1-click checkout isn't painful. "Both buyer and seller only intera
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by battani 12y ago
This does not qualify as a bullish catalyst.
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by battani 12y ago
What kinds of use cases can you think of for microtransactions? There's a reason entire industries are moving toward the pay-by-the-month/year model instead of pay per use (Spotify, SaaS, online edition of newspapers, etc.). >
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by battani 12y ago
The are operating as "custodians of customers' digital currency assets" (their words). That means they are a bitcoin/fiat bank. Commercial banks make money on 1) currency conversion and 2) loans. Circle could offer these
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by battani 12y ago
If someone steals your bank account number and charges you, you call your bank to reverse the transaction and block any future transactions from the thief :) did that yesterday, works like a charm.
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by battani 12y ago
Jan Koum, founder of WhatsApp, was born in a tiny village in Ukraine, grew up without a father, worked as a cleaner in a grocery, and was almost homeless. Today he is worth $6.3 billion. You'll find a way if it's important enough
23.
by battani 12y ago
Good tutorial and good service. Interested in seeing Part 2: Manage Addresses/Keys
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by battani 12y ago
They still have to keep at least the amount the richest user owns online in case that user decides to withdraw all their coins.
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by battani 12y ago
> No matter how secure you think you are, someone can likely get into your server Well if that happens you're in deep shit in any case whether you use this service or not...
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by battani 12y ago
https://blockchain.info/charts/n-transactions We see a decrease since December and otherwise flatlining. And this includes the trading volume that happens on the exchanges which has increased.
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by battani 12y ago
The difference being that most of these students will receive the free bitcoin and hold, hoping they appreciate in value, instead of transacting and contributing to the network effect.
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by battani 12y ago
Where did you get that figure? I'm curious because I've used APIs such as Blockchain and Coinbase and minimum fee is 0.0005BTC, which is about 25c.
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by battani 12y ago
> Online sales are another use case. It's far easier to verify buyer information and funds. You also save the 10%+ in fees that you would pay using a service like ebay. Do you mean using the blockchain as an escrow service? True, bu
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by battani 12y ago
The document makes valid points, but fails to emphasize the biggest risk to bitcoin: lack of consumer adoption. It's not about merchant adoption. It's not like consumers are just dying to find a way to spend their bitcoin. They ob

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