Topic: Please stop turning into morons just because you see "Brock Pierce" somewhere - page 5. (Read 7893 times)

Honestly most people aren't that smart. They'll just think, "Oh look, now my cash can be digital like PayPal" and not even associate it with bitcoin.


That's the thing, they won't have to. If, as these guys are planning, their Realcoin gets picked up by banks, exchanging USD to/from Realcoin will be done right from your own bank account. Remember, if these guys get enough asset, audit, and bank backing for their coins, no one will have to bother actually redeeming Realcoins for USD. Banks, after getting some Realcoins from his company (or another bank) can just swap in an out of them for you, right within your own bank account, knowing that they can always redeem them back into real dollars if they ever need to.

And once people do the simple swap right from within their own private bank account, suddenly their fiat currency is unlinked from any specific bank, and can zip along the blockchain to be traded directly with other people for other things (unless the regulators get too pissy about not being able to monitor everything)


Brock is 100% behind bitcoin, which leads me to suspect that this is perhaps his attempt at making entry into bitcoin easier for the economy as a whole (which would be a bit difficult to shove through the tiny narrow centralized exchange "pipes" we have now). Also, remember how Doge used to be really hated by bitcoiners, until we realized that a lot of people who thought bitcoin was a joke ended up getting into Doge, thinking "at least it knows it's a joke," and then those people suddenly understood first-hand how cryptocurrencies worked, and "got" bitcoin?

For some reason everytime I see Brock's name I think of Phineaus Gage. I guess this forum just needs some drama sometimes, especially when news has been slow and people need something to talk about.

You're talking to much sense, his head will explode.

LOL peg an IOU to a fiat and called it backing eh?

Get the fck off already scammer.

The primary problem with RealCoin is that it will confuse the heck out of everyone who doesn't already understand decentralized currency fairly deeply. All the bitcoin-as-currency naysayers who've been yacking about "separate the currency from the network" will look to RealCoin as proof that it can be done. What they're obviously missing is that RealCoin, by having its value backed in series by centralized entities (RealCoin, and the Fed), is not decentralized and therefore offers none of the meaningful benefits of a decentralized currency. You, in fact, cannot separate the bitcoin currency from blockchain technology while retaining the purpose of a blockchain: decentralized global consensus.

But that's not how it'll be billed, or how people will see it. They'll think that they can get the benefits of "bitcoin", or crypto-currency more generally, by using this RealCoin thing; ie, transaction security, quick payments across borders, etc. Trouble is, we can do that stuff with PayPal, Square, Venmo, etc....and much more efficiently!

Blockchains are a real pain. We only use them because they solve distributed consensus and we don't have another good way to do that. If RealCoin is going to "back"/peg something with dollars, they don't need a blockchain, and they certainly shouldn't be calling what they're doing "decentralized" anything.

If this thing gains any traction, it'll trigger a very annoying confusing period for bitcoin/crypto. It doesn't solve anything... People will still have to buy RealCoins with dollars on some fiat-crypto exchange. They could just be buying bitcoin. It *adds* another complexity layer and confusion. That's all.


FWIW, the fact that Brock Pierce is behind this only matters given his role at the *BITCOIN* Foundation. Someone doing the RealCoin concept has been inevitable for a while; just wish it wasn't someone who's supposed to be focusing on promoting bitcoin, as both technology *and* currency.

Because it's my thread? There's the back button.

Why dont u just take a hike?

Seems like some dumb shit does't understand the definition or concept of "backing." Oh well. Guess I'll have to find some sage guru to ask questions of elsewhere.

Used to be a child actor for Disney movies. Played the young version of the coach in Mighty Ducks, among other movies. Mostly crappy ones. Disney, being Disney, paid him in residual profits, which, for Disney, is always $0. Then he worked with (or helped found?) a company that worked with game vitual currency in some fashion. I think they had people mine WoW gold or somesuch (I really need to read up on this). The company made them tons of money, they had some crazy parties in Cali, and some guy wo attended those parties later accused Brock's roommate, or landlord, or something, of sexual harassment. Then they tacked Brock to the suit as well. Eventually the whole thing was settled out of court without any convictions. Allegedly the same guy who accused them is going after some other wealthy actors now, with the same accusations, so there's counter-accusations that the accuser just just sues wealthy people for money or something. Since then Brock has been involved in practically everything related to Bitcoin, and has invested a whole ton of money into existing businesses and startups, apparently many of them privately (in secret). Now he has a ton of really really high level connections in businesses (and sometimes politics) all around the world, a ton of investment and interest in all things bitcoin, and a ton of money to make his life interesting. The main thing I remember hearing from Brock is that he likes chaos, and will even invest in things that are directly competing with his own businesses and ideas, even if it means he will lose money on them, just to see which idea/business will be better and win out. That and that he believes Bitcoin is his main priority and the best investment out there, supposedly not even allowing wealthy investors who want to invest in his own bitcoin businesses to invest until they buy bitcoin itself, telling them that they won't find anything better than just bitcoin, and that they better own and understand bitcoin before dropping money on any related businesses.

If you understand what fiat is, then you should know fiat cant back any shit... dumbfck.

why does anyone give a crap about them ?
what have they done ?

besides train/grow scammers till they were ready to outleash and scam.

He is a board director of the bitcoin foundation

http://en.wikipedia.org/wiki/Bitcoin_Foundation

serious question... who or what is Brock Pierce ?

Perhaps you can learn me what a fiat is? Or learn me something about how Realcoin doesn't have some features of bitcoin that I apparently talked about? Because I'm all dumb as fuck and don't understand these things.

Learn to fcking understand what fiat is first...

And if you really some altcoin can be fiat in digital form while retaining the features of bitcoin, you're dumber than i thought.

Since you're smart(ass), maybe you can explain to me what it is?

wow you're dumb as fuck if you think realcoin is just fiat in digital form.


For a "hero member", i dont see any other way but you're pumping for your gain.... aside from being a typical scammer...

Crosspost from Reddit, because holyshit guys! You've really been falling apart in the last few weeks! And why the fuck am I the only one to realize the following?



We need a decentralized exchange! First step? Get USD into a digital decentralized form!

Remember the years worth of calls for a decentralized exchange? This call-to-action was raised every time an exchange collapsed somewhere, whether due to bank closures, or owners disappearing with people's money. Many attempts were made at this, yet, so far, none are functional or useful. The main roadblock to a decentralized Bitcoin-to-Fiat exchange was that it required BOTH sides of the exchange to be decentralized, but while Bitcoin was easy, since it came both digital and decentralized already, Dollars proved way harder. The eventual conclusion was that, if we could decentralize fiat, we wouldn't need Bitcoin to begin with, and thus, after the last exasperated cries for such an exchange coming shortly after the MtGox crash, the project of "Decentralized Exchange" somewhat fell by the wayside, losing support and enthusiasm.

But, lo and behold, someone finally put in the massive amount of time and resources to make the fiat side of the equation digital and decentralized! Perhaps not as decentralized as Bitcoin, but it seems more than good enough for our needs! With this project we FINALLY have all the building blocks to finally have a real, decentralized bitcoin exchange. Rejoice, bitcoinland! Your savior is... what? Brock Pierce? That guy that everyone has rumors and preconceptions about, and immediately makes conclusions that anything he touches automatically turns to crap? Well... yes. And hopefully bitcoinland will realize the importance of this move before it goes too deep into deriding Realcoin as "a stupid idea because it's inferior to Bitcoin," or into Brock's personal allegedly sordid past...