706000+ entries in 0.425s
mike_c: then respond
to
the comment
mike_c: fluffypony: leave it as is, and
tell
TaT
to comment on it if he doesn't like it
Apocalyptic: for me it's beyond doubt coinbase is scaming with
their high risk
tx bullshit
fluffypony: ok I'll leave it up and
then publish an updated one when I get a chance
Apocalyptic: fluffypony, don't pull it just because
TAT is being a coinbase shill
princessnell: ThickAsThieves no, of course not.
they are a profit seeking business.
ThickAsThieves: princessnell i dont
think "priming" people should be a concern of coinbase necessarily
mike_c: wha?? why would you pull an article
that is generating debate?
fluffypony: ThickAsThieves: I'm going
to pull
the article for
the moment, I'll revisit it when I have
time, but weekend is almost here
mike_c: and basically fully expect someday my balance on CB won't be
there.
mike_c: fluffypony: why?
that is exactly how i use it. i purchase, move coins
to storage, and use CB for random day-to-day purchase/bets.
fluffypony: I don't have a better one, but
that's not apt enough
princessnell: i
think shaming coinbase et al is appropriate. but i
think
this is a structural problem with demand.
fluffypony: mike_c: I can't agree with
that analogy
bounce: no cash in pocket means chip&pin which in
turn exposes
the entire checking account
mike_c: it's cash in your pocket vs. your bank account. cash in your pocket is a convience and subject
to mugging.
bounce: what, no "take
the world by storm"?
fluffypony: mike_c: well, isn't part of
the entire point of Bitcoin
that "he who holds
the keys holds
the coins"? in other words, users should be encouraged
to use Bitcoin in
that fashion, anything else (webwallets) deviates from
that core principle
ThickAsThieves: princessnell, but what's
the flipside? a common cure for stupid?
princessnell: yr absolutely right about
the cultural problems
that
the convenience creates
mike_c: "Since Coinbase has had
their merchant
tools rolled out since December 5th, 2012 it’s safe
to say
that
they’re not a new startup."
mike_c: yes, i
think i'm following, but who cares if a user <-> coinbase <-> coinbase merchant
transaction doesn't scream bitcoin?
ThickAsThieves: with
the convenience be speed, false sense of security, or ignorance as bliss
ThickAsThieves: yeah my point wa a customer can make as many sacrfices as
they like
to protect
their own convenieneces
fluffypony: mike_c: I'm speaking
to a specific point
ThickAsThieves raised
ThickAsThieves: maybe a better argument, would be how merchant use of bitcoin is
the problem
fluffypony: where it's all magical unicorns denominated in USD and money coming out
their bank account
fluffypony: but
they're aware of what's happening and where Bitcoin plays a role in
the payment process
ThickAsThieves: also, yknow your Coinbase
thinks America is Important section mostly serves as data showing how US is important
fluffypony: and have
the money sucked out
their bank account
fluffypony: a Coinbase user buys something on a site
that uses Bitpay
princessnell: would you expect
those most of
those users
to use Bitcoin in any other way?
fluffypony: ThickAsThieves: ok well let's contrast
the approaches
fluffypony: they're making
their users
treat Bitcoin payments like PayPal payments
fluffypony: ThickAsThieves: not in and of itself, no -
the problem is
that
they're building a userbase
that is intwined in
that ecosystem and will struggle
to manage
their own wallet
ThickAsThieves: yeah you dont
trade FX at
the airport moneychanger now do you?
mike_c: kinda like if you
treat bitbet as a last-second bitcoin faucet.
mike_c: coinbase is only a scam if you
treat it like a daytrading exchange.
ThickAsThieves: because
they form a bitcoin/fiat money-changing service
they are
the devil?
bounce: "complain
to
the ceo of bitcoin"
ThickAsThieves: "Purposely breaking
the Bitcoin model is not only irresponsible, but it gives us insight into what Coinbase is
trying
to achieve."
fluffypony: ThickAsThieves: k I'll adjust it
to preface it better
Apocalyptic: oh yeah
the ""high risk
transaction"
trick
ThickAsThieves: i'm not even sure
there are any real offenses of coinbase mentioned in your post
fluffypony: yes but
then I sound like a Bitpay shill :-P
fluffypony: I can preface it with
that if it'll help
mike_c: Apocalyptic: i was like an hour before
that in catching up. so close :)
fluffypony: ThickAsThieves:
the article was
triggered by a Bitpay vs. Coinbase discussion on
the AMC
thread
mike_c: 04:50:57 mircea_popescu:your blog got 0 comments
the past month. << just because your blog doesn't get comments doesn't mean it sucks.
BigBitz: like confirmed
to be have
taken place.
mike_c: well,
there was no immaculate conception. how do you mean?
BigBitz: did
the Berkshire bet "get made" ?
mike_c: it's no berkshire vs bitcoin, but
there are some basketball bets
totalling a few bitcoin going now. not
too shabby.
BigBitz: however, some refuse
to accecpt AMEX based on
their larger
tx fee.
BigBitz: Welcome
to VISA/AMEX :) ie; end user does not carry
th eburden of Merchant Services Charges
BigBitz: This,
too, is antithetical
to Bitcoin, but also flies in
the face of all logic. Why layer
the fees on
to ordinary users
that could be sending Bitcoin
to
their mom or
their sick cousin? Why not let
the merchants carry
the cost, since
they can write
the fees off as a cost-of-doing-business?
fluffypony: BigBitz: ah ok - I'll add
that in as a sidebar
BigBitz: btw
they do charge Merchants; if
they're volume is significant.
fluffypony: yeah some of
those reward systems can be gamed nicely if you're a big enough spender
bounce: kinda interesting.
though I probably wouldn't go
through
the
trouble even if I had access
to (or need for)
those
things
fluffypony: bounce: for sure, still nice
to get something instead of just getting fisted by
the bank :-P
BigBitz: I wouldn't be upset
to get a free pair.
bounce: you paid for
the kickbacks, sure enough
fluffypony: I don't
think I would've paid cash for
them
fluffypony: so I basically got
them for "free" with
the points
fluffypony: we get
these reward points from our bank for swiping and shit, and if you use a bunch of
the bank's products you get 40% off at certain stores when spending
the points
BigBitz: yeah
they are good -- just for
that kind of coin
they are expensive and not
THAT good.
fluffypony: and she's abused
them, yet
they're still going
fluffypony: bought a pair of buds for
the wife a few years ago
BigBitz: was
the Apple buy a cash buy?
BigBitz: They're good headphones, but, at
that price
they're not good...
BigBitz: their
target market for iPhone is
the beat wearing morons.
Apocalyptic: "Volume 24h: 95.130000 BTC" according
to poloniex, but hard
to say what
the real
thing is
fluffypony: Apocalyptic: I can give you a bit of info on
that