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originally posted by: lightedhype
originally posted by: paytaplay
I dont care who owns bitcoin or runs it , it looks crazy and sounds crazy, but my brother sent me .10 a long time ago and i just sent it to a gambling site and had me a good run. Bitcoin is stupid , will go away, but it sure was fun
Well that was pretty dumb. You couldve done research and invested when he sent it, youd be a millionaire by now if we are talking years. But hey - all for fun. Those btc gambling sites are a fun way to lose money.
originally posted by: AugustusMasonicus
Is their a Bank of Bitcoin where a prospective homeowner can go in and take out a collateralized home mortgage? No? Let me know when you can do that and then we can have a conversation about how you really didn't replace anything.
originally posted by: Slickinfinity I will probably be able to just buy a house very soon because of crypocurrency and its more fair decentralized economy.
originally posted by: LightSpeedDriver
"In other news tonight....
Governments worldwide have banned all crypto-currencies effective immediately due to their destabilisng effects on economies and the increased criminality that has lately been sweeping nations citing national security concerns. All crypto-exchanges have now been declared illegal and it remains to be seen if regular citizens will see a single penny of their digital assets....
Next up, Tom with the weather..."
originally posted by: Slickinfinity
You can use one of the emerging smart contract platforms to sell a title deed or have an escrow agreement so I'm assuming its not far off.
If you buy something online with bitcoin you are considerably less secure in most cases than using a conventional payment method. If you use a bank, credit card or even PayPal you are protected by a host of legal protections and industry standards. Using bitcoin you have virtually no comeback against the seller at all.
The number of companies accepting bitcoin is limited and the majority those that do will want to transfer it over to their local currency. For the majority of transactions you are unlikely then to get a better price paying bitcoin ( or similar).
Fees are paid on pretty much every bitcoin transaction, the vast majority of my transactions through my bank are completely free. ( This of course does depend on your countries banking system).
The idea that bitcoin or any crypto currency is a challenge to national governments is just fantasy. While governments have the ability to tax in the currency of their choosing there is no need for them to acknowledge cryptos at all other than as a speculative asset to be taxed.
originally posted by: JinMI
What does exist is 'smart contracts.'
originally posted by: JinMI
I personally don't think any crypto yet has the capability to knock out debt/interest systems. Nor do I see a better option other than paid in full options. Best I could offer is, we'll see.