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[–]yeahnoduh 18 ポイント19 ポイント  (35子コメント)

I'm really surprised he left BitPay to fill a small, probably-not-long-term position at reddit. I can only assume there's more to his position than developing "reddit's digital asset" and bringing a little more bitcoin-friendly functionality to the site though, or else that position sounds like it has a pretty short shelf life.

[–]ryancarnated 66 ポイント67 ポイント  (34子コメント)

It's definitely long-term. Bitcoin technology will ultimately become integral to reddit. We've had some internal brainstorming about ways we could integrate - the possibilities are enormous.

Our focus right now is on the digital asset. Announcements forthcoming.

[–]contentBat -2 ポイント-1 ポイント  (33子コメント)

Bitcoin technology will ultimately become integral to reddit.

This is going to end in tears.

The word bitcoin is synonymous with drugs, CP and other shady dealings.

It's unregulated which means numerous people have been getting their money stolen/ripped off and no means to get it back. Some of the shenanigans is unreal that if I said a bank or the same thing happened with real currency people wouldn't believe you.

It's also unstable. The Russian rouble is more stable as a currency.

Even Mozilla dropped Bitcoin as they found it was dramatically impacting their donations.

https://fundraising.mozilla.org/bitcoin-donations-to-mozilla-17-days-in/

[–]JoffreyDiesS04E02 4 ポイント5 ポイント  (2子コメント)

The word bitcoin is synonymous with drugs, CP and other shady dealings.

Pretty sure the almighty dollar pioneered these things long before bitcoin was a twinkle in Satoshi's eye.

[–]contentBat 0 ポイント1 ポイント  (1子コメント)

Not sure about pioneered, but Silkroad/Bitcoin was hailed as the safest way to buy illegal goods and services without fear of being stolen/killed.

[–]smartfbrankings 1 ポイント2 ポイント  (0子コメント)

How evil of Bitcoin to dramatically reduce violence in a peaceful activity between consenting adults.

[–]ryancarnated 1 ポイント2 ポイント  (28子コメント)

The media has unfortunately painted an inaccurate picture of bitcoin for many people. reddit can help to change that.

Also, it is inaccurate that Mozilla stopped accepting bitcoin donations. They just dropped the link from the main page: https://sendto.mozilla.org/page/content/give-bitcoin

[–]contentBat -4 ポイント-3 ポイント  (27子コメント)

The media has unfortunately painted an inaccurate picture of bitcoin

I'm not talking about the media. You only have to watch /r/Bitcoin for a while to see loads of people getting scammed/stolen from.

http://www.reddit.com/r/Bitcoin/comments/2nkias/this_is_a_list_of_rbitcoin_users_who_had_their/

That's just last month. This month was the source code snafu.

http://www.reddit.com/r/Bitcoin/comments/2onl1y/at_least_hundreds_of_coins_were_stolen_from/

Or Moolah running off with $1.5M worth of bitcoins owned by others?

Or MtGox who were artificially pumping and dumping, then walked off with around $400M of people's money?

Or flexcoin who shut down in March after $600,000 theft?

They are just the big thefts. There are numerous little ones.

It's also known for being great for blackmail as it can be cleaned and transferred without being easily tracked. For example.

http://www.reddit.com/r/Bitcoin/comments/27p93v/uk_thames_valley_police_warn_of_bitcoin_blackmail/

http://www.coindesk.com/cryptolocker-malware-demands-bitcoin-ransom/

There are also the shadier parts of reddit where you get posts like people threatening to kill others for stealing coins (and posting rewards in BTC).

http://www.np.reddit.com/r/SilkRoad/comments/2njv6d/wanted_sunwu_for_stealing_200_btc/cmebaoz

That's going to go down well with the media.

[–]danielpbarron 1 ポイント2 ポイント  (1子コメント)

What should that tell you? That X thing is bad because people in Y group get ripped off? Shouldn't it tell you that maybe it's just users in Y group that get ripped off. Try looking in group Z. Users of #bitcoin-assets have a much lower rate of stupid; check it out sometime.

[–]contentBat -2 ポイント-1 ポイント  (0子コメント)

check it out sometime.

You should check out why we have so many regulations when it comes to money. Bitcoin helps you learn why one mistake at a time.

[–]Tipper_More 0 ポイント1 ポイント  (0子コメント)

He is referring to "Bitcoin technology" which could also be referred to as "Blockchain technology." This is not the same as Bitcoin. The technology behind Bitcoin is much more than it's application as a virtual currency. Blockchain technology has the potential to completly revolutionize and decentralize the exchange of information and property.

[–]ObiWontchaBlowMe 1 ポイント2 ポイント  (5子コメント)

Moral of the story: Be in control of your private keys. Don't keep your bitcoins on the exchanges. Encrypt them with strong passwords.

[–]contentBat -3 ポイント-2 ポイント  (3子コメント)

There have also been off exchange scams where people have had money stolen.

[–]stunspot 0 ポイント1 ポイント  (1子コメント)

Yeah! Stick with dollars. You can't lose THOSE in a scam!

[–]contentBat -2 ポイント-1 ポイント  (0子コメント)

You can't lose THOSE in a scam!

Of course you can. Just not as easily as Bitcoin.

[–]ObiWontchaBlowMe 0 ポイント1 ポイント  (0子コメント)

Shit, you're right. Everything about bitcoin, from buying to using to selling, is a complete scam. Dollars are immune to scams, what was I thinking?

I'm going to cash out all my bitcoin today and get real money. I need to cash it out anyway so I can collect my inheritance money from my distant Nigerian Prince uncle. He's got crazy high fees he has to pay to get everything set up so I've been helping him with that. Just a few thousand more dollars until I'm a multimillionaire!

[–]fluffyponyza 0 ポイント1 ポイント  (17子コメント)

Obviously this is a Bitcoin specific problem. Thankfully most of the world uses fiat currency, where none of this stuff happens.

How scams and shakedowns brought Ukraine to its knees

Vice President of the European Investment Bank is at Heart of Probe Into Biggest Public Money Scam in Spain's History

India Savings Deposit Scam Collapse Leaves Thousands Penniless

etc. etc.

[–]contentBat -3 ポイント-2 ポイント  (16子コメント)

Oh there are scams worldwide. You will even find people in the US being jailed for creating known scams with bitcoin.

Case in point:

http://www.smh.com.au/digital-life/digital-life-news/us-scrutiny-of-bitcoin-intensifies-as-man-arrested-over-ponzi-scheme-20141107-11idn8.html

However, the problem lies in that bitcoin is totally unregulated. So there is no protection for your money.

For example, if a bank needs to change their internal infrastructure to fix an issue, my money in that bank is still safe (and insured).

A few months back an exchange took everyones money who didn't verify their account by a deadline. Free money for them.

http://www.forexnews.com/blog/2014/10/17/bitcoin-exchange-bitstamp-confiscate-unverified-accounts/

There was absolutely nothing anyone could do about it.

[–]fluffyponyza 3 ポイント4 ポイント  (4子コメント)

You're totally right - the lack of regulation is a terrible thing, Bitcoin should be regulated like all currencies are. Thank goodness that with a regulated currency there's no risk of your money deposited at a bank just being taken. Thanks goodness for that!

Bank of Cyprus depositors lose 47.5% of savings

For the first time in Ireland deposit holders will lose their money.

Think Your Money is Safe in an Insured Bank Account? Think Again.

[–]contentBat -3 ポイント-2 ポイント  (3子コメント)

The first link people with over €100K savings lost 47.5% on the difference. This is called insurance. At the moment bitcoin exchanges offer $10 refund or $100 if in the UK (or they can just walk off with your money).

The second link says the same thing. That people with 100K or less are guaranteed to get their money back.

Your third link, I don't know where you dragged that up from, but your first two links seem to contradict it.

[–]fluffyponyza 1 ポイント2 ポイント  (2子コメント)

Clearly you're either too pig-headed or ignorant to understand my point.

Bitcoin is imperfect. It has many failings. A lack of regulation has massive drawbacks.

Regulated currency is imperfect. Regulation has many failings. The fact that you have to trust oft-corrupt institutions has massive drawbacks.

Nobody here (except the libertards) believe that Bitcoin is some sort of mystical and perfect unicorn. But, at the very least, they acknowledge that Bitcoin has fantastic purpose and effectiveness in the fields of online payment (no chance of credit card style fraud, no need to trust an intermediary to guarantee the settlement) and cross-border remittance (virtually instant and incredibly cheap transactions, settlement from a local trader or exchange means no need for forex hedges). You'd do well to spend some time revisiting your extremist and unhinged viewpoint.

Ignoring the march of technology because it can be abused is like refusing to use a mobile phone because terrorists use them to set off bombs.

[–]slyf 0 ポイント1 ポイント  (6子コメント)

However, the problem lies in that bitcoin is totally unregulated. So there is no protection for your money.

Cash is also unregulated in terms of not having protections from theft or refunds, Bitcoin is digital cash, not a bank. If you want, you are free to transfer your bitcoins into someone elses regulated insured balance just like a bank would with cash.

If your problem is with the regulation of exchanges, things are in the works to create regulated exchanges and not a problem with Bitcoin itself.

[–]contentBat -1 ポイント0 ポイント  (5子コメント)

Cash is also unregulated in terms of not having protections from theft or refunds,

Actually it does depending on how you use it. I can purchase a product for cash and if I am not happy about it I can get a refund in cash.

Bitcoin touts no chargebacks as a positive.

[–]slyf 0 ポイント1 ポイント  (4子コメント)

I can purchase a product for cash and if I am not happy about it I can get a refund in cash.

You can still do that with bitcoin, cash has no chargebacks either...unless you rip it out of their hands.

[–]Facebossy 0 ポイント1 ポイント  (3子コメント)

Coinbase bitcoin accounts are insured.

[–]contentBat -2 ポイント-1 ポイント  (2子コメント)

Coinbase bitcoin accounts are insured.

Although Coinbase is probably one of the few that has their act together, I recommend you read up on what they actually have insured. It's not the same as banks insurance.

[–]Facebossy 0 ポイント1 ポイント  (1子コメント)

Let's see how well the FDIC covers loses during a full fledge collapse.