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Comment Re: This stuff makes me feel old (Score 1) 296

I'm sure I can find you more than 7 millipeople that will say otherwise. Or you can look at the paper that I linked, which outright says as much in the abstract and then does in fact go on to design a system for making payments but not one for being a general currency.

Yes, you should generally be converting to or from Bitcoin into your local currency (although the actual conversion might be handled for you by someone else, depending on how you're doing things). It's useful for making payments to people -- I'm fairly sure that was more or less the first thing I said in this discussion.

Comment Re:Nope (Score 1) 114

Do you have an example where they censored something? Normally any censoring in CR's streams is because they're showing the same footage that airs on Japanese broadcast TV, and the censoring is done in Japan for those -- with the uncensored version being considered a BD perk. It's a bit of a stretch to blame CR for that.

The closest example I can think of was that one episode of Girls und Panzer, but even then the scene in question was cut out by the Japanese publisher (and it was, as you mention, for music copyright reasons rather than censorship per se).

Comment Re:How can a currency be an investment"? (Score 1) 104

Cool cryptography stuff is cool, but it only protects the coins, not their value. And who knows where that's going to go; if China and the US made it illegal or impractical to run a Bitcoin exchange then that would remove a lot of the speculation that's currently pushing Bitcoin's price up.

I don't really have any idea how good gold is for storing money either, it's just that the AC clearly thought it was a good idea so I figured I'd run with it. You're free to bet on whatever you think will work out well. I'm just tired of seeing people claim that Bitcoin is a failure due to not being good at doing something that it wasn't designed to do.

Comment Re: This stuff makes me feel old (Score 1) 296

Or you can read Nakamoto's paper which says things like "What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party." -- and which then goes on to describe a system which solves that problem.

Comment Re: This stuff makes me feel old (Score 1) 296

I think possibly you're the one that needs to think about what I said, particularly the bit where I pointed out that Bitcoin isn't for storing money but rather for moving it around. It's not meant to function as a currency, it's meant to function as a replacement to services like Paypal.

You're right that Bitcoin makes a bad currency, but that's largely because it's not meant to be a currency in the first place.

Comment Re: This stuff makes me feel old (Score 1) 296

You're right, high volatility isn't good for payments either, but there's a huge difference in the risk to a company that's actively trading (who only need stability on a timescale of days) vs somebody trying to store bitcoin for multiple years.

In practice fees for payments over Bitcoin are currently a few percent, which is comparable to the fees for non-Bitcoin payment methods and suggests that the risk is manageable at the moment.

Comment Re:You are doing it wrong (Score 1) 296

Depends on what you're doing. Buying a coffee on your morning commute... yeah. Buying something online that'll get delivered from China? It's no problem for that.

At least complaints about the confirmation speed are relevant complaints, unlike most of what I see on Slashdot...

Comment Re: This stuff makes me feel old (Score 1) 296

Yeah: you're trying to use Bitcoin to store value. Bitcoin is for moving your savings around, not for storing them. You don't keep 20 BTC in your wallet, you keep $20k in it and then use the Bitcoin network to move $1k per payment. It makes no odds whether that's 1 BTC or 2 BTC at the time of payment.

Comment Re: This stuff makes me feel old (Score 1) 296

It'll be $1000 worth of Bitcoin.

What does it matter if that's 1 BTC or 1.5 BTC? It's still $1000 of BTC. Bitcoin is for making payments, not for storing money or fixing your prices against (you want a currency for those, not a payment network).

Comment Re:You are doing it wrong (Score 1) 296

It's a payment network. It wasn't designed as a replacement to the dollar but rather as a replacement to Paypal. As such it shouldn't be too surprising that it doesn't make a good currency; it's just not designed for that.

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