Big Misconception of Bitcoin's Transaction Irreversibility. Bill Gates read this - page 2.

redsn0w

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#Free market

Quote from: bitllionaire on February 12, 2015, 03:50:32 PM

I think that it can't exist a irreversibility in payments method without the control of a centralized institution

I think bitcoin is the best type of payment "irreversible" (-avoid the double spend). However the video is very very good, has someone tweet this video to Bill Gates's twitter account ?

bitllionaire

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I think that it can't exist a irreversibility in payments method without the control of a centralized institution

colinistheman

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Quote from: oblivi on February 12, 2015, 02:54:15 PM

Billgates has a twitter account, we should tweet this to him.
But what about the other 2 critiques?

I don't have a twitter account (amazing, I know), but perhaps someone can tweet it to him for me.

I'm sure there is a perfect video for Bill Gate's other 2 critiques, but I don't have them off-hand.

Handling this one point is a big step forward though.

medUSA

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--Signature Designs-- http://bit.ly/1Pjbx77

The process Andreas proposed is an elegant solution to irreversibility when two parties engage in a trade. I believe this isn't the main problem of irreversibility. Irreversibility is most problematic when coins are hacked or stolen.

oblivi

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Billgates has a twitter account, we should tweet this to him.
But what about the other 2 critiques?

colinistheman

hero member

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One of Bill Gates' and others' mistaken ideas about bitcoin is in regards to transaction irreversibility.

The following video is THE best video response I've ever heard to the tiresome complaint that bitcoin transaction irreversibility is a problem. Andreas debunks this claim in a few minutes with finesse.

Bill Gates needs to watch this clip so he gets we're dealing with a flexible *protocol* which is programmable and can offer reversals if needed.

https://www.youtube.com/watch?v=XsW_bsFAWgw#t=245

This is why Bitcoin is more powerful than anything that has been seen before.

How do we get him to watch it? If he understands it, his decisions and influence can be monumental.

Topic: Big Misconception of Bitcoin's Transaction Irreversibility. Bill Gates read this - page 2. (Read 1433 times)