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Ending Bitcoin Support

stripe.com

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Re: Ending Bitcoin Support

#631

Post by ceejayoz »

Jommi wrote: post #611
ceejayoz wrote: post #559

Earlier quoted context omitted.

You probably should've checked https://www.google.fi/search?q=bitcoin+destroyed+my+business before posting that, considering there's twice as many results as the other two combined. Not to mention things like entire exchanges evaporating...

Not a single link on the first page relates to actual business getting destroyed. Also, amount of google searches does not mean much. You should know better.

> Not a single link on the first page relates to actual business getting destroyed.

I see one about Purse.io, but OK.

> Also, amount of google searches does not mean much.

Then what are your Google search links intended to convey? That people occasionally have issues with PayPal/Amazon and blame them for the loss of their business? Sure, there'll always be some of those - and some will be failed businesses looking for someone else to blame. I'm sure there are some legit issues to find in those searches, but it's pretty easy to find stories like Mt. Gox to demonstrate that both sets of platforms have their issues.

Re: Ending Bitcoin Support

#632

Post by nogbit »

csomar wrote: post #488
koheripbal wrote: post #49

Earlier quoted context omitted.

I honestly don't know what use-case remains for Bitcoin. If you have large value transactions you'd probably choose something with privacy like Monero, and if you want something cheap and fast, maybe Bitcoin Cash. In both use-cases, you have a few competing alternatives. In no circumstance is Bitcoin preferable to one of the mature alternatives. ...and if no one is using it as a transaction medium, then acting as a s…

The reason is that life is not really that simple. People pick people/assets/things based on reputation and popularity and not technical or practical merit. Gold is used as a store of value despite the fact that it is 1. volatile 2. hard to store 3. hard to buy/sell and 4. hard to transport.

Wrong, its not that volitile, its very easy to store, and its very easy to buy the physical coin...local or online and the paper version via some fund of some sort. Also easy to store for average Joe as he isn't buying kilos and instead is buying ounces.

Re: Ending Bitcoin Support

#633

Post by root_axis »

Jommi wrote: post #614
root_axis wrote: post #590

Earlier quoted context omitted.

It matters because one is a physical object with static properties and the other is a digital abstraction with characteristics that can change arbitrarily based on network consensus. One is fundamentally a thing that can be looked at and held , the other isn't even a thing you can know you have without consulting a quorum of nodes about the status of the ledger (for all you know, you don't actually own any tokens bec…

But what does that matter in a world where people spend numbers on a bank account, never questioning if the money is actually there or not? I fear you are putting too much emphasis on physical things, as if the quality of being "able to be touched" somehow matters in the modern world.

And? So what? A bank account is nothing like gold either so that statement is totally meaningless in the context of this thread.

Re: Ending Bitcoin Support

#634

Post by gthtjtkt »

lawn wrote: post #407
gthtjtkt wrote: post #335

This is the main reason Litecoin exists. Strange that they decided not to use it...

Litecoin failed to gain the network effect which is so crucial for a currency. It never had a roadmap other than copying what Bitcoin did. It's not even a cheap coin to use compared to the alternatives. There's no reason to use Litecoin over Bitcoin Cash, Ethereum or Monero at this point.

Litecoin volume has regularly been $1 billion+ per day during the past several months, and Ethereum has been suffering from the same issues as Bitcoin. LTC's median transaction fee is literally pennies, you don't think that's cheap?

The fact that you think ETH is more suitable for use as a currency only shows how little you know about crypto. ETH isn't even meant to be a currency.

Re: Ending Bitcoin Support

#635

Post by blueprint »

sincerely wrote: post #185
blueprint wrote: post #135

Earlier quoted context omitted.

That's why I said "wait". Do you know how long it's been in testing? Do you know how close it is to readiness?

Lightning has been close to readiness for what seems like an eternity. It's an exciting prospect to be sure (centralization worries aside) but I think it's important to keep our expectations reasonable. The long term future of cryptos is harmed by baseless hype.

https://twitter.com/lightning/status/955920356052631552

I'll just keep sending these for you

Re: Ending Bitcoin Support

#637

Post by JohnTHaller »

solean wrote: post #389
JohnTHaller wrote: post #118

Earlier quoted context omitted.

Bitcoin transactions take hours to confirm now, making Bitcoin useless as a transactional medium. When people are paying 25%, 50%, and more to send Bitcoin of typical levels of purchase, it's time to get out. Stripe is honestly a bit late in dropping Bitcoin for transactions.

I sent ~$5k in btc last night for a $3 fee and it confirmed in around 30 minutes..

Then you got very lucky: https://blockchain.info/charts/avg-confirmation-time

Re: Ending Bitcoin Support

#638

Post by SubiculumCode »

VarFarYonder wrote: post #617
SubiculumCode wrote: post #560

Earlier quoted context omitted.

Hardly anyone uses gold as a storage of value.

> Hardly anyone uses gold as a storage of value https://en.wikipedia.org/wiki/Gold_reserve#Officially_report...

I meant individuals rarely keep gold as a store of value.

Re: Ending Bitcoin Support

#639

Post by vkou »

nol13 wrote: post #576
vkou wrote: post #525

Earlier quoted context omitted.

They can't see how much I paid for a car when I paid with a cheque either. This is not a problem that I, or 99% of human beings have. Again - what is the darknet supposed to protect me from?

Mainly referring to the credit card companies that will sell your data.

1. You don't buy a car on a credit card. Dealerships won't even accept cards. Private individuals won't, either.

2. Your counterparty (the dealership) will sell your data, regardless of whether you pay with cheque, cash, bitcoin, gold coins, or lost pirate treasure.

Re: Ending Bitcoin Support

#640

Post by deevolution »

jjeaff wrote: post #510
deevolution wrote: post #490

Earlier quoted context omitted.

Id like to also add that there are an order of magnitude more transaction options provided by cryptocurrencies than there are for fiat payment systems. Id bet money that, collectively, the cryptocurrency ecosystem is able to process more transactions per second than all of the leading fiat processors combined.

Probably, but only because crypto doesn't scan for fraud and abuse among other things. Monero is happy to let someone completely empty your life savings. Cc processors on the other hand are on the hook for fraud, so they are checking every transaction to make sure it doesn't match certain hueristics that could indicate theft or fraud.

I'm optimistic crypocurrencies (not all, but some) will achieve global adoption as a payment option. I think its possible to build a cryptocurrency that could emulate the fraud / refund detection features of cc processors. If there isn't one out there, I'm sure it will exist in the future. I certainly don't see monero being used in my local bodega or as a mainstream currency because thats not really what monero is trying to achieve.
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