Topic: Today, the Austrian National Bank held a lecture on Bitcoin - well.. (Read 2650 times)

This is incorrect. Australia should change its name.

We need even simpler walltes. We need even safer exchanges. We need much more people who actually USE Bitcoin and not only buy and hold it. And we need to face the volatility issue which is in my opinion the biggest problem of Bitcoin (something that may stabilize in the future when Bitcoin gets a bigger and bigger userbase).


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I think also that we need simpler and faster wallets.

as newbie i was starting to sync my wallet with network, for 3 times it just break up the process,,, after 4. time i succed after one week to sync the wallet.

as i do not transfer bitcoins every day,,, it also take long until it syncy 2 or 3 weeks network transitions....

i have dsl with 16.000kb/s internet at home....so transfering big data is not a problem....

Just a bunch of people so far behind the eight ball they would be better of playing snooker

Not everyone understand how bitcoin works , government also, well everything have It's time, when it'll come everyone will learn It.

In German (Austrian's language) it is called "Österreich" ... which starts with a letter english speaking people cannot even pronounce correctly. Therefore, it's very unique and only a matter of translation.

Piggy backing on the awareness raising potential of an entire continent is a unique feat already.
The other way round is not as productive though. When I was in China and giving a presentation about Austria, the organizers exhibited the grand flag of Australia to kick it off. Much lol.


Sometimes, one should focus on the good things to go forward. Thx for taking notice!

I think the Austrians should start by changing their country's name to something more unique. I read it like Australian National Bank.

Now if someone were to spread really positive news the price of Bitcoin would reach insane highs. Only because the average joe listens to media, not reason.

Unfortunately, they didn't even talk about future regulatory things. Also, I think all in all there were more sceptic people then optimistic. However, one thing I especially noticed was this guy from the Austrian Federal Economic Chamber who was really Pro-Bitcoin and tried to debunk myths from more sceptical people. But this does not speak for the whole Austrian Federal Economic Chamber.

True that, class division is a vicious circle. Elitists, even or especially if they are benevolent try to protect the sheep and in effect curb innovation. One only has to look at regulatory induced entry barriers of entry in capital markets.

Thx a lot for your account on the meeting and sharing!

I wonder what the stance towards future regulatory measures was. If there was any (FMA guys). Did you get any feel for that? Also, who was more on the positive side, meaning able to see possibilities instead of drowning everything with precaution and pessimism? I'm especially wondering about private banks, if they'd participated. Any highlights much welcome.
(will listen to your recs in addition).

The problem is bigger than Bitcoin. The Average Joe is ignorant, and dumb. Quite a big portion of our population have become sheep.

On your view - yes. But I think the average joe that just heard about Bitcoin in the media has a negative feeling when he hears the word Bitcoin, especially because of the MtGox incident and the very negative media coverage on this topic.

That's a problem of the people. MTGox has zero impact on my view of Bitcoin.

MTGox incident has brought many points to Anti-Bitcoin Community.I think now it needs a lot of time to change people opinion to positive after that incident.

Here is a proof link http://www.oenb.at/Termine/Terminarchiv/2014/Geld-ohne-Banken-Der-Fall-Bitcoin.html

One way to explain that clearly is something like this:
The network and code that BTC uses is extremely secure;
The thefts/hacks/scandals have been at the "human level" not Bitcoin itself.

Just like before GUI existed, or before companies like Apple that made computers user-friendly, Bitcoin now is like the first few years of personal computing where everything was run in command line. You NEEDED to be technically savvy to use computers, but today even grandmas and toddlers can use a computer, but in a form today that is unrecognizable from when they first came out. It will happen to Bitoin as well, given time. The problem is, we can't force people to understand how bitcoin works if they just don't get it. Majority of normal everyday people don't even know how to setup the internet, let alone understanding how a peer-to-peer trustless encryption-based system which can and does have value to be used as money, works. And sometimes, people don't need to know all the underlying technical mumbo-jumbo how a thing works, they just need to be taught how to use it.

You know, from my personal experience, the more enthusiastic I am when talking about Bitcoin, explaining why it so revolutionary and all that, the more people are skeptical of Bitcoin, or maybe just of me. I think we shouldn't be too concerned with getting people on board but instead keep pushing the agenda of Bitcoin in our own capacity, those who can do the infrastructure, build it, those who can provide services or goods for bitcoins, do it. We need to cater to Bitcoiners first, then, the masses will slowly follow.  

I use electrum and it seems pretty simple to me.  But maybe even simpler is possible. Could be a fun project.

bitcoins killer app regarding volatility and usability would be if you could use them as collateral to lend something into existence. the incentive for non-hoarding would be given by merchants who would offer a discount due to missing or almost missing transaction costs.

daniel larimer is trying this with his bitshares - it would be MUCH easier with bitcoins