121–130 of 140 posts
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People can write bad checks or create fake money orders too. It holds as much value as the faith the recipient puts into it.
Which is why many places don't accept checks. In other words they don't consider it a valid currency.
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If you are looking for the truth, it's really not hard. Go to Youtube, search about the street reviews in Syria made by BBC, see how Syrian people expressed themself to rest of the world.
Just because some Syrians express a view on does not make it the view held unanimously by all Syrians, and thus 'the truth'. Different folk will be benefiting and supporting the existing regime while others will be protesting it, look at the States, or any nation and how easy it is to find differing viewpoints on almost anything. I don't know what the truth about the situation in syria is, nor do i think i ever fully…
The power vacuum it leaves behind will be much worse for Syria than the regime. And that's not even counting the damage that all the external forces will be doing.
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Just because some Syrians express a view on does not make it the view held unanimously by all Syrians, and thus 'the truth'. Different folk will be benefiting and supporting the existing regime while others will be protesting it, look at the States, or any nation and how easy it is to find differing viewpoints on almost anything. I don't know what the truth about the situation in syria is, nor do i think i ever fully…
FWIW, everyone knows that the Syrian government is an evil beast. However, Asaad and his father have mercilessly controlled the religious factions, holding together an otherwise fractured society, and made it possible for minorities to survive. The power vacuum it leaves behind will be much worse for Syria than the regime. And that's not even counting the damage that all the external forces will be doing.
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And this is what bitcoiners and similar don't understand. It's not like your internet connection will remain happy and stable while the rest of the world goes to hell around us. Telecomms will be a first-class target, and most systems have some pretty central points of failure that would make juicy (and easy) targets. In such a situation, if you've chosen to use an electronic cryptocurrency dependent on things like r…
What would you suggest people put their money in then? Gold? Guns? The problems you describe are problems for just about every currency right now. How much of your money do you have in cash, and how much is in the bank? Do you think you will still be able to use the bank in a situation like the one you describe?
How about: potable water, non-perishable food, gasoline, batteries, tools (including weapons), and other commodities that will be scarce and have intrinsic value during a crisis?
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Just because some Syrians express a view on does not make it the view held unanimously by all Syrians, and thus 'the truth'. Different folk will be benefiting and supporting the existing regime while others will be protesting it, look at the States, or any nation and how easy it is to find differing viewpoints on almost anything. I don't know what the truth about the situation in syria is, nor do i think i ever fully…
FWIW, everyone knows that the Syrian government is an evil beast. However, Asaad and his father have mercilessly controlled the religious factions, holding together an otherwise fractured society, and made it possible for minorities to survive. The power vacuum it leaves behind will be much worse for Syria than the regime. And that's not even counting the damage that all the external forces will be doing.
Please take a look at how Egypt is now. The new government all you internet activists supported is now willing to destroy the pyramids because "there is only one god" according to their crazy fucking mind.
FSA is even, and much more worse. You'll see what the evil beast once they get the chance.
Even now, there are disgusting videos of them forcing christians to be muslim. All their motivation is jihad. That people don't believe in democracy. They are actually the evil beasts.
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Which is why many places don't accept checks. In other words they don't consider it a valid currency.
Many people still receive their pay in the form of a paper check. I personally pay my rent with a paper check, or at least have my bank send one out. Debit cards are certainly more popular and less risky than your personal check though.
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Many people still receive their pay in the form of a paper check. I personally pay my rent with a paper check, or at least have my bank send one out. Debit cards are certainly more popular and less risky than your personal check though.
Generally your employer isn't going anywhere, and if a paycheck bounces, you will see them the next day and raise the issue (also, they are legally bound to make good on that debt). I wouldn't take a one-time contract job and expect to get paid by check after handing over the work, any more than I would accept a check from a Craigslist user in exchange for an item (unless the check was allowed to clear prior to my si…
Additionally there could be satellite hotspots that could act as exchanges when landline or wireless networks are down. Bitcoin is probably not perfect, but could be useful for money transfer even in areas where the net isn't robust.
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"if you've chosen to use an electronic cryptocurrency dependent on things like robust network and electrical infrastructure to function as your primary value store, you're going to have a bad time." Apparently you are unaware of the tools to build offline transactions. Or of the ability to store bitcoins in your head (brain wallet). Want to send bitcoins to someone without Internet? Just communicate to him/her the br…
I'm going to go with, no. Having easily stockpiled and manipulated hard currency (fiat or no) makes waaay more sense to me than some combination of words or what have you in my brain wallet. I don't think there's been any real demonstration of the use of bitcoins for non-connected transactions--theory does not a practical application make. Better off trading bottle caps or ring tabs.
A TX record is signed, which proves that only I wrote it. It does not immediately have to become part of the "consensus ledger" i.e. blockchain. All I have to do is not spend the same money twice, and I can keep local records. Once the net comes back up, everyone can enter in their TX records manually and let the network figure out the rest. Any attempts to spend the same money twice would be prevented unless you somehow managed to spend from the same wallet in both fractions of the bitcoin network, which seems like it would be hard to pull off.
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Yes there are people building real world offline transactions. See the whole API: https://en.bitcoin.it/wiki/Raw_Transactions Typically they use this API for offline cold storage wallets.
Any offline transaction which is spec'ed with JSON-RPC doesn't pass my apocalypse test. I'm sorry dude, but if the bombs are flying and buildings burning, just admit it: Bitcoin is not a suitable currency.
Your best bet then is probably gold.
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How secure is this stuff?
It is very secure as long as those ~30 characters are chosen randomly. Also you need to learn about http://brainwallet.org/ to store bitcoins in your head by merely memorizing a human-friendly passphrase!