It seems that bank accounts are public: https://blockexplorer.com/address/1MTbKpYWnzqmsLvCjdTtwrvuX8... Why is this?
All account numbers and amounts are public but there's no name attached to them and you can have as many accounts as you please.
I Spent A Coin (And I Liked It) — How I Bought Lunch in Manhattan with Bitcoins
11–20 of 139 posts
Re: I Spent A Coin (And I Liked It) — How I Bought Lunch in Manhattan with Bitcoins
#12There's a lot to like about BitCoin. They "just" need to solve the following: 1. Technical issues (make it more secure) 2. Economic issues (deflation) 3. "Competitor" issues (governments, banks, the powerful status quo)
I'm curious. Where exactly do you see a security flaw in Bitcoin? Exchanges run by former magic the gathering admins don't count. What flaw is there is there in the security of the currency, I'm curious.
Re: I Spent A Coin (And I Liked It) — How I Bought Lunch in Manhattan with Bitcoins
#13Excellent article. My favorite quote:
> Apart from whether there is a central bank somewhere to bid against George Soros, doesn’t the difference between a real currency and an imaginary currency lie in some sense in the composure with which a customer can ask if the currency is accepted here and in the composure with which a merchant can say yes?
Every currency is valuable only because other people consider it to have value.
Re: I Spent A Coin (And I Liked It) — How I Bought Lunch in Manhattan with Bitcoins
#14There's a lot to like about BitCoin. They "just" need to solve the following: 1. Technical issues (make it more secure) 2. Economic issues (deflation) 3. "Competitor" issues (governments, banks, the powerful status quo)
... Which will lead to 4. Trust. People can only agree to use a currency if they trust it.
I think the lack of physical tokens for Bitcoin (or any cryptocurrency) will likely be the main hurdle for public acceptance. It'll probably take another generation or two for people to get used to the idea of not having a physical representation for currency.
Re: I Spent A Coin (And I Liked It) — How I Bought Lunch in Manhattan with Bitcoins
#15So I get that Bitcoin by design keeps a global public record of every transaction. Does that have to be the HN front page?
Re: I Spent A Coin (And I Liked It) — How I Bought Lunch in Manhattan with Bitcoins
#16There's a lot to like about BitCoin. They "just" need to solve the following: 1. Technical issues (make it more secure) 2. Economic issues (deflation) 3. "Competitor" issues (governments, banks, the powerful status quo)
I'm curious. Where exactly do you see a security flaw in Bitcoin? Exchanges run by former magic the gathering admins don't count. What flaw is there is there in the security of the currency, I'm curious.
[deleted]
Re: I Spent A Coin (And I Liked It) — How I Bought Lunch in Manhattan with Bitcoins
#17There's a lot to like about BitCoin. They "just" need to solve the following: 1. Technical issues (make it more secure) 2. Economic issues (deflation) 3. "Competitor" issues (governments, banks, the powerful status quo)
I'm curious. Where exactly do you see a security flaw in Bitcoin? Exchanges run by former magic the gathering admins don't count. What flaw is there is there in the security of the currency, I'm curious.
http://nerdr.com/shutting-down-bitcoin-really-taking-down-th...
I'll add that the crypto will one day be broken (even brute force will eventually work once CPU/GPU have progressed far enough). And when it is, there is no reason you couldn't just sit back cracking those wallets in secret before funneling the coins your way. A significant weakness of the anonymity of the network means no one really "owns" a wallet in the traditional sense. They are essentially communal.
Re: I Spent A Coin (And I Liked It) — How I Bought Lunch in Manhattan with Bitcoins
#18If bitcoin was a currency the meal would have been denominated in bitcoins not dollars. Bitcoin is an asset like gold or a stock certificate, not a currency.
Re: I Spent A Coin (And I Liked It) — How I Bought Lunch in Manhattan with Bitcoins
#19If bitcoin was a currency the meal would have been denominated in bitcoins not dollars. Bitcoin is an asset like gold or a stock certificate, not a currency.
No, only because Bitcoin isn't stable enough right now to know what the price should've been in BTC.
Re: I Spent A Coin (And I Liked It) — How I Bought Lunch in Manhattan with Bitcoins
#20If bitcoin was a currency the meal would have been denominated in bitcoins not dollars. Bitcoin is an asset like gold or a stock certificate, not a currency.
No, only because Bitcoin isn't stable enough right now to know what the price should've been in BTC.
You mean yes, not no. It's precisely because bitcoins are not stable that bitcoins are not a currency.