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Ormorof

Ormorof

FH is my second home
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Scouse said:
It's nothing like that at all m8. It's just a replacement medium of exchange - instead of £ or $ it's bitcoin.

There are significant advantages to not having bank control of money and it cuts out all of the middlemen too - so no VISA charges etc etc. Instant movement of money, very cheaply, to anywhere in the world.

It's also significantly less dodgy than normal money - that $1bn worth of bitcoin the story was about - if that was in $ or £ and held in our banks we'd never have known what was happening with it. As it's held in bitcoin we know where it's gone from, where it's gone to and when - because we can look at the ledger.

The reason banks came out so strongly against it is that it makes them meaningless as a method of transfer - and this whole "it's dodgy" shite - it's because a lot of very rich, very dodgy people would have their financial transactions exposed for ALL to see.

If we have strong identification on currency conversion - (and banks have this already - it's called Know Your Customer) then criminals would literally have nowhere to hide and no way of disguising their payments. - criminals like rogue governments (the UK being prime amongst 'em), er, the royal family?

The point being we don't know - because we can't see what they're doing.


We absolutely will have e-money. That's nailed on. The only thing will be if central banks run the infrastructure themselves and not allow us to be part of the "distributed ledger". - and it's that "distributed ledger" which makes it powerful.

What'll happen is the central banks will run their own bitcoin, tell the public that the rest of the crypto currencies are dodgy and we'll all move onto the dodgy, secret, bank-owned bitcoins and the rich and criminals will stay hidden.

Because we're fucking mugs.
Click to expand...

If you consider the changes double book keeping introduced this is kinda next step

That said i think crypto currency is one of least interesting applications of Blockchain even if its the sexiest one (money wise)
 
Job

Job

The Carl Pilkington of Freddyshouse
Joined
Dec 22, 2003
Messages
21,652
Th
Scouse said:
It's nothing like that at all m8. It's just a replacement medium of exchange - instead of £ or $ it's bitcoin.

There are significant advantages to not having bank control of money and it cuts out all of the middlemen too - so no VISA charges etc etc. Instant movement of money, very cheaply, to anywhere in the world.

It's also significantly less dodgy than normal money - that $1bn worth of bitcoin the story was about - if that was in $ or £ and held in our banks we'd never have known what was happening with it. As it's held in bitcoin we know where it's gone from, where it's gone to and when - because we can look at the ledger.

The reason banks came out so strongly against it is that it makes them meaningless as a method of transfer - and this whole "it's dodgy" shite - it's because a lot of very rich, very dodgy people would have their financial transactions exposed for ALL to see.

If we have strong identification on currency conversion - (and banks have this already - it's called Know Your Customer) then criminals would literally have nowhere to hide and no way of disguising their payments. - criminals like rogue governments (the UK being prime amongst 'em), er, the royal family?

The point being we don't know - because we can't see what they're doing.


We absolutely will have e-money. That's nailed on. The only thing will be if central banks run the infrastructure themselves and not allow us to be part of the "distributed ledger". - and it's that "distributed ledger" which makes it powerful.

What'll happen is the central banks will run their own bitcoin, tell the public that the rest of the crypto currencies are dodgy and we'll all move onto the dodgy, secret, bank-owned bitcoins and the rich and criminals will stay hidden.

Because we're fucking mugs.
Click to expand...
There are two problems with blockchain, one being your own observation that the ore trusted the 'id' of an event the less likely you are to be believed when it turns to shit.
You can only expect it to be attacked in ways we have yet to even consider.
The second is something thats part of a new phenomenon, banks dissapearing from the high street, the extra level of trust that that level of exposure gave is diminishing and bitcoin has no one to go to,

My ledger says this but my account is empty
What would you do, go moan on bitcoin forums?
 
Ormorof

Ormorof

FH is my second home
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Anyhoo ran into just this problem with paypal, apparently i created an account back in ~2005 and as an early adopter i slapped 2 factor authentication for password recovery on so they need to call that number and confirm my identity... Its a landline number at an address i have not lived at for 15 years so now that account is locked forever :D
 
Scouse

Scouse

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As usual @Job, your lack of understanding means that your worries aren't valid. But it ain't worth discussing with you.
 
Hawkwind

Hawkwind

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Ormorof said:
Anyhoo ran into just this problem with paypal, apparently i created an account back in ~2005 and as an early adopter i slapped 2 factor authentication for password recovery on so they need to call that number and confirm my identity... Its a landline number at an address i have not lived at for 15 years so now that account is locked forever :D
Click to expand...
Had the same issue moving from Dubai to the UK. Had to close out the account and start a new one.
 
Lamp

Lamp

Gold Star Holder!!
Joined
Jan 16, 2005
Messages
23,286
Just spoke to my Dad
He came out with a random comment over the phone
He said if you were born a girl we'd have called you Veronica

:oops: o_O

I might change it to Veronica anyway now.
 
Moriath

Moriath

I am a FH squatter
Joined
Dec 23, 2003
Messages
16,209
Lamp said:
Just spoke to my Dad
He came out with a random comment over the phone
He said if you were born a girl we'd have called you Veronica

:oops: o_O

I might change it to Veronica anyway now.
Click to expand...
Apparently i was gonna be claire 😱
 
Scouse

Scouse

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Messages
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Moriath said:
www.bbc.co.uk

Scotland becomes first part of UK to ban smacking

Scotland is the 58th country to ban smacking in the home, giving children the same rights as adults.
www.bbc.co.uk www.bbc.co.uk

hmmm more ferral kids ? Or fewer?
Click to expand...
www.bbc.co.uk

Fresh call for smacking to be outlawed in the home

There are many better ways of teaching right from wrong, educational psychologists say.
www.bbc.co.uk www.bbc.co.uk

They argue that physical chastisement also leads to a lower quality of parent-child relationship, poorer mental health in childhood and adulthood, as well as higher levels of aggression in the child and more anti-social behaviour.
Click to expand...
 
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