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6-8 Weeks Until Bitcoin Debit/Credit Card, says BitInstant

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Re: 6-8 Weeks Until Bitcoin Debit/Credit Card, says BitInstant

#3

Post by enmaku »

paulhauggis wrote: post #2

It's interesting how Bitcoin is now becoming exactly what Bitcoin was always against: a centralized bank. A bad and unreliable one at that. It kind of shows you the evolution of our banking systems and why we need one.

Even if I concede the point that Bitcoin is becoming a centralized bank - which I don't - how exactly is it "bad and unreliable"? At least this bank is run algorithmically by the crowd/cloud and can't rape pillage or otherwise screw you out of your money on the whim of a handful of rich white men... Perhaps I'm showing my politics too clearly here, but I do honestly believe that math is a better tool for deciding what happens to my money than the board of directors at Goldman-Sachs.

Re: 6-8 Weeks Until Bitcoin Debit/Credit Card, says BitInstant

#4

Post by drivebyacct2 »

paulhauggis wrote: post #2

It's interesting how Bitcoin is now becoming exactly what Bitcoin was always against: a centralized bank. A bad and unreliable one at that. It kind of shows you the evolution of our banking systems and why we need one.

What?

How can a currency become a bank? You have a very strange definition of the word bank. I don't even know what you're trying to say.

Downvoting, really? That's like me saying "USD is becoming a bank! And that's awful!".

Re: 6-8 Weeks Until Bitcoin Debit/Credit Card, says BitInstant

#5

Post by pkulak »

paulhauggis wrote: post #2

It's interesting how Bitcoin is now becoming exactly what Bitcoin was always against: a centralized bank. A bad and unreliable one at that. It kind of shows you the evolution of our banking systems and why we need one.

Kind of how Gmail has turned email into a centralized communications system? The existence of a bank based on Bitcoin doesn't remove your ability to store your wallet on a flash drive any more than Gmail removes your ability to run your own mail server.

Re: 6-8 Weeks Until Bitcoin Debit/Credit Card, says BitInstant

#6

Post by discountgenius »

paulhauggis wrote: post #2

It's interesting how Bitcoin is now becoming exactly what Bitcoin was always against: a centralized bank. A bad and unreliable one at that. It kind of shows you the evolution of our banking systems and why we need one.

The limitations in the usability of Bitcoin are slowly being shored up by third-party opportunists. Just because Bitcoin is starting to be able to be used the way people use banks does not mean it is becoming a bank.

Re: 6-8 Weeks Until Bitcoin Debit/Credit Card, says BitInstant

#7

Post by ekianjo »

paulhauggis wrote: post #2

It's interesting how Bitcoin is now becoming exactly what Bitcoin was always against: a centralized bank. A bad and unreliable one at that. It kind of shows you the evolution of our banking systems and why we need one.

Unreliable ? Where?

Re: 6-8 Weeks Until Bitcoin Debit/Credit Card, says BitInstant

#9

Post by enmaku »

rheide wrote: post #8

This seems like an excellent opportunity for authorities to physically track people who use their bitcoins for illegal purposes.

Only if they're stupid enough to fund cards tied to their real identities with coins from a shady past. Bitcoin is as anonymous as you make it, put in the effort and you'll be ok - don't put in the effort and expect sirens.
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