Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 22781. (Read 26714057 times)

So you are saying you cannot imagine a world where some choose to use a third party, if that is their choice, and some choose not to, and instead choose to disintermediate?

The point is you now have the choice.

I have not bought a CD, or used blockbuster, or bought a DVD for nearly half a decade, I still can choose to do so, but now I download or stream all of my content. However if I wanted to I could pop down to the shop and pick it up and buy cash, or order online and get a hardcopy sent in the post and pay by credit card or by Bitcoin , but I choose not to, I choose to interact with the web (with the risks associated) and download or stream or p2p,  but the point is I have the choice. Whereas I remember very clearly getting all new release films from blockbuster or going to the cinema, because well I had no choice.

The advent of digital downloads and streaming and p2p, did disintermediate to a certain extent the businesses that used to be the largest providers of DVD/CD rentals, sales etc.

It provides the choice.

Plenty of people I know still buy DVDs and CD's and plenty of people p2p or stream, and industry is playing catchup all of the time with this.

Point is people have the choice, to use technology that disintermediates the middleman.

Also, solutions to problems are being found all the time, Bitcoin security being a problem that is getting a lot of focus, I expect to see better solutions relatively soon. Things change.

(ps "Middle men" is quite a good film anyone seen it?? it is actually quite relevant now that I think of it  i.e internet, payments, evolving tech, and dodgy dodgy fuckers ... but now years later turned into a "grown up" fully fledged global industry, which still has some dodgy fuckers no doubt)

finex now providing details on used and unused swaps:

https://twitter.com/flibbr/status/570656785377443841

what a surprise, >99% of all active swaps are already used in margin positions.

You have to trust in third parties with fiat both at the consumer protection level and at the base monetary inflation levels.

I guess you didn't read well RE: Bitcoin.... comprehension isn't your strong suit?






Multisig, open source, software means you don't have to trust third parties for consumer protection and have a choice of  arbiters to dispute for vastly less cost than we currently spend on consumer protection.... AND you have a money that is not fundamentally controlled by a centralized third party. Inflation is known and perfectly predictable, and security is tighter than a drum.

Edit: Nice thing about bitcoin is that it offers merchant protection that the legacy systems just can't seem to provide. What is wrong with your google?

My bad  See, Havelock, Bitcoin's premiere securities exchange, did a runner.
My attention was on on reassuring his victims that everything will work out for the best Because Bitcoin!^TM

Looks like we are going at the very core issue of the whole bitcoin phenomenon.

First satoshi creates a technology that is supposed to avoid "trusted third parties" because apparently they are a problem.
Then we discover that trusted third parties are actually important and not a problem.
So we introduce trust in something that was supposed to avoid it?

Why not used centralised finance that works better in the first place I wonder (that sure can welcome some improvements for example with distributed ledger protocols)?

Basically we just discovered that the original satoshi endeavour of making money 100% decentralised and trust-less was kinda... bullshit because trust in necessary.

Hopefully your correct.

Im hoping for another small drop so I can pickup some more, but at the same time i'm slightly short in futures atm, but I have a very tight stoploss incase something goes against me.

Can you imagine a world, with improved Bitcoin security ,where some are , if they choose, able and willing to secure their own coins and devices, and then there are others, some individuals that use companies, third parties, and some companies are insured, so as to comply with standards that enable them to interact with the conventional financial system, in a way that satisfies peoples needs and the regulations that exist?

I can.

Ha ha ha, you looney.. you do realise you are mixing two different people right? ^^

Get some sleep, take your meds, put on your glasses, engage your brain, take a bath, if you have access to one.

You really are filthy, bitcoiner.

Calm down, cultist. You are a little nervous.

I read this thing and I see "trusted third party". I thought bitcoin was supposed to avoid those evil ugly "trusted third parties" satoshi was talking about in his paper and that this was the whole narrative for bitcoin paranoid libertarians.

Now you are saying that trust is necessary?

Your neighbor, who is now your friend, got her card stolen [presumably after the thieves have seen her type in the pin]?  Sounds legit.  
You sure your friend is your friend, and not just another Bitcoin scammer?

Another tick in the positive column.  
 
‘Out-dated’ Wall Street technology gets a bitcoin-inspired fuel-injection

http://www.bizjournals.com/newyork/news/2015/02/25/out-dated-wall-street-technology-gets-a-bitcoin.html

OMG! It's irreversible like the cash you pay in a brick and mortar! There is NO WAY consumer protection could exist with bitcoin.  

Oh wait!

http://finance.yahoo.com/news/mainstream-consumer-protection-meets-bitcoin-100900458.html


Are you even aware of what day of the week it is?

No wonder you are a wanderer  

Coin
Explanation

Bitcoin is the next internet, says bank of england
http://www.telegraph.co.uk/finance/currency/11434904/Bitcoin-revolution-could-be-the-next-internet-says-Bank-of-England.html

Not to be outdone, venture beat reports that it will be bigger than the internet
http://venturebeat.com/2015/02/16/heres-why-bitcoin-will-be-bigger-than-the-internet/

But seriously, we now have two major governmental bodies discussiing the positive potential of cryptocurrency. In addition, it sure feels like popular media has been very bitcoin bullish. Good for bitcoin. Good for price*.


*full disclosure, I am long. Fooled you?

^Wut

I have a friend here in the UK, that used a ATM machine that had a card reader inserted into it (and lost money) she was not covered either.

Ah cool thanks for your analysis.

(This forum has become much better with Lambchop and NHJT ignored).

I know what you meant.

I disagree with the "can probably only be what circle and coinbase are offering"

Hence my post...

I do believe that insurance companies will continue to develop and interact with the ever evolving digital payments space, why would they not? insurance companies are having to constantly adapt. Also maybe they will not cover you if your computer gets hacked, maybe they will eventually, as it is going to become more of a problem in the future, but they almost certainly will provide insurance for accounts held with reputable companies with adequate infrastructure and security that has met their underwriting needs, and protect consumers funds.

I do not pretend to have a crystal ball.

However I do believe that things change, and can change quickly (including the fate of BTC) and the world is going to change immensely in the next 25 years, without a doubt.  Bitcoin may be part of that, and it may not.
Insurance companies will be a part of that, and will adapt to whatever technology throws them (at a service level that we are used to by insurance companies, i.e it works, but they always have the house advantage)

Insurance companies are currently preparing to provide cover to services that do not even exist in the mainstream just yet, or are in the process of being rolled out, apart from anything else, they need to stay relevant, in the light of incoming developments in technology. While insuring various upcoming technologies will earn insurance companies lots of money, some will take profits away from them (driverless cars) so it pays them to adapt and provide their services to the market as it adapts.

Insuring Bitcoin will be no different.


 

Just pointing out that what Coinbase and Circle are currently claiming to have as "insurance" is pointless (and kind of a lie), considering bitcoin and its frictionless nature as money (perfect for scammers/hackers/thieves). Not the same as a bank account.

Depends. Sideways (on falling volume, even) could either lead to a sudden break of resistance like in May, or of support, like in November.





Your guess is as good as mine, although I'm slightly leaning towards upwards, because of the sheer size of the January capitulation.