11–20 of 44 posts
Earlier quoted context omitted.
coinbase.com. Link your bank account and then you can buy them with a single click. Same way you get money onto paypal.
Given the appalling lack of basic security across many of the Bitcoin services there is no way on earth I would be trusting them with bank account details.
My main problem with bitcoin is that there's no way to buy them. I've tried using Dwolla and Bitinstant and other methods and so far have failed after jumping through all kinds of hoops including entering bank info and uploading pictures of IDs and utility bills to shady websites. And everyone wants their 4% transaction fees, so if you want to buy this $20k car you'll be paying hundreds of dollars in fees. I don't un…
The new economy is not supposed to form around purchases as expensive as cars. It is still optimised for micro-transactions where that 4% fee isn't a significant cost.
The popular gambling site satoshidice is responsible for the rapidly increasing size of the blockchain, now around 3GB.
Bitcoin has two main utilities, firstly it is very hard to prevent a bitcoin transaction from taking place, it can potentially be tracked after the fact if you aren't careful though.
Secondly the fixed limit means that it should become a safe store of value, assuming that bitcoin is successful in the longterm.
Bitcoin isn't really designed to scale up to VISA levels of transaction processing, instead it is more suited to be used as a clearing house, to track deposits and withdrawals.
Perhaps the most eyebrow-raising offer comes from Wikispeed, makers of a custom, modular car that claims to be able to drive 100 miles on a single gallon of gasoline. On Bitcoin Friday only, customers who purchase a Wikispeed SGT01 with Bitcoins can get 20 per cent off the list price, a $5,000 discount. As the November 9 sale got underway, your Reg reporter checked in with Holmquist to see how it was going. "It's goi…
My main problem with bitcoin is that there's no way to buy them. I've tried using Dwolla and Bitinstant and other methods and so far have failed after jumping through all kinds of hoops including entering bank info and uploading pictures of IDs and utility bills to shady websites. And everyone wants their 4% transaction fees, so if you want to buy this $20k car you'll be paying hundreds of dollars in fees. I don't un…
Earlier quoted context omitted.
coinbase.com. Link your bank account and then you can buy them with a single click. Same way you get money onto paypal.
Given the appalling lack of basic security across many of the Bitcoin services there is no way on earth I would be trusting them with bank account details.
If you wanted to be really paranoid, you could set up a checking account just for stuff like bitcoin, and only load small amount of money into it right before making purchases.
If the people behind this effort really want to get the BTC economy rolling, they need to figure out some way for more people to _earn_ their way into it. If you have a hoard of BTC, now is a good time to figure out a project that you want to crowdsource; if you wait too long BTC will be worth nothing, because everyone will be saving theirs for later...
Why is there a "donate" paypal button on a car maker's website?
Earlier quoted context omitted.
Given the appalling lack of basic security across many of the Bitcoin services there is no way on earth I would be trusting them with bank account details.
The only banking details it needs are you routing and account number. Granted, you shouldn't give those out to just anyone, but it's the same info you give out every time you write a check. If you wanted to be really paranoid, you could set up a checking account just for stuff like bitcoin, and only load small amount of money into it right before making purchases.
But those are all anyone needs in order to withdraw the entire contents of your account, and they're being stored on someone's presumably-poorly-secured server. At least with paper checks they're, well, paper and are likely physically given to the bank for processing.
If you wanted to be really paranoid, you could set up a checking account just for stuff like bitcoin, and only load small amount of money into it right before making purchases.
My credit card account comes with an online service to generate one-time-use card numbers, for buying things from companies you don't exactly trust. So this suggestion is perhaps not so overly paranoid.
Perhaps the most eyebrow-raising offer comes from Wikispeed, makers of a custom, modular car that claims to be able to drive 100 miles on a single gallon of gasoline. On Bitcoin Friday only, customers who purchase a Wikispeed SGT01 with Bitcoins can get 20 per cent off the list price, a $5,000 discount. As the November 9 sale got underway, your Reg reporter checked in with Holmquist to see how it was going. "It's goi…