Comments
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RCThe trust in the central ledger is too great. I think Bitcoin and other crypto-currencies are too vulnerable to hacking. Therefore no mass adoption IMHO.
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DSIf Bitcoin is transparent, it is possible that governments might embrace it. They can see where the Bitcoins came from and who received them. Further, Bitcoin users will know that their transactions are transparent. They will have to use other methods to cheat.
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RBThe question about what happens to Bitcoin or Ripple when it begins to infringe upon the power of Governments was really not answered. That is why I still think crypto-currencies remain a huge gamble
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JRIf you need a third-party to certify things -- such as the backing of the bitcoin by gold -- then how is this a trustless system? I think the explanation in laymen terms needs to be revisited.
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JRWhen it is said that everyone agrees to the legitimacy of transactions on a blockchain what does this mean? If Joe sells Bob his car using bitcoins, how can everyone agree that its legit?
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DFIf the banks are getting on board to ride the Ripple forget about honesty and integrity. In the type of world being talked about here we won't need money, everything will be free.
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KCBitcoin is fascinating. I don't quite understand it, yet, but am getting there. I would like to see many more interviews on the subject, especially ones that are more primer oriented.
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ROCrytocurrencies should be designed with the assumption that governments are not going to be honest or fair. Otherwise, these currencies would be destined to fail, while gold and silver will survive.
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spWow. First time I have been blown away by a Bitcoin piece. Thanks
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CCMy question is perhaps "bit" more germane. If owning a printing press grants you power why would allow a challenger to your power?
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JABiggest obstacle is that it is technology based and most people with assets and money are older and don't trust technology because they don't have an intuitive understanding of it.
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JAProfound. I will have to checkout this Ripple, and his book on Bitcoin. It seems like a good idea to get to know these things because moving money quickly outside the system might be a priority soon