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Re:Bitcoin Bail-Ins and Yuan Bets by CydeWeys on Monday August 08, 2016 @01:17PM (#12249316)
It's really not though? All I have to do is two things spaced roughly an hour apart (from the comfort of my own home). Buying a money order or mailing a check are more involved.
Re:Bitcoin Bail-Ins and Yuan Bets by ubernostrum on Monday August 08, 2016 @03:45PM (#12250375)
I keep my money as cash, in a vault that I had to design and build from scratch in my own home. It's probably not secure against robbery, but it's how I have to store my money to avoid the fact that all the banks are being robbed blind all the time. When I do actually have to transfer money to someone, I go to a bank where I keep a zero-balance account, make a deposit and physically stay there until it clears. Then I initiate the transfer, and as soon as that clears I immediately withdraw any leftover funds from the account and go back home to put it in my vault.

If someone had seriously proposed this as a way they use traditional cash + banks, you'd be laughing at them.

Re:Bitcoin Bail-Ins and Yuan Bets by CydeWeys on Monday August 08, 2016 @10:52PM (#12252271)
The analogy fails because it's different in a substantial number of ways. That's the problem with arguments by analogy in general -- they're weak.

I'm not proposing an alternative to cash and banks here, I'm just pointing out that, if you have Bitcoin and want to sell it for fiat currency, using an exchange is definitely the easiest way to do so, and a best practice for doing so is to hold your cryptocurrencies yourself and only move them to the exchange when you're selling them, rather than holding them in the exchange.

Re:Bitcoin Bail-Ins and Yuan Bets by riboflava on Monday August 08, 2016 @04:23PM (#12250614)
Many laughable things become fine with technology. Look at various encryption or network protocols. If someone had seriously proposed to Caesar that to keep their messages truly safe they needed to work out the math of a one time pad for every communication (or maybe more practically by modern standards, AES), they'd be executed. Rather than dismiss things on analogy, look at things as they actually are. The total amount of friction for the bitcoin equivalent is very little which makes it not a problem at all.
Re:Bitcoin Bail-Ins and Yuan Bets by devishard on Monday August 08, 2016 @04:58PM (#12250832)
If I have to transfer my money into an exchange, wait for it to clear, and then immediately transfer it out into a wallet with a long random address with a random key that I then have to protect, that's not "very little friction" compared to traditional banking. There are many benefits to cryptocurrency, but ease of use is not one of them, and when you claim it is, you come across as out-of-touch with the average user.
Re:Bitcoin Bail-Ins and Yuan Bets by devishard on Monday August 08, 2016 @01:45PM (#12249531)
Look, I'm a big Bitcoin enthusiast, but Bitcoin isn't easier than traditional banking.

I sent ~8 checks at the beginning of the month without doing literally anything, because they were set up with automatic bill payment. When I get paid it goes directly into my account, again without me doing anything. Unless you're going to claim that Bitcoin is easier than literally not even thinking about getting paid or paying my bills, ease of use is not really a selling point for Bitcoin.

There are real reasons to use Bitcoin that aren't provided by traditional banking. We don't need to persuade people it's easier, especially since it's not easier.

Re:Bitcoin Bail-Ins and Yuan Bets by CydeWeys on Monday August 08, 2016 @10:54PM (#12252280)
I don't know who you think you're arguing against, but it isn't me. My point was that exchanges are useful for exchanging the cryptocurrencies that you already have for fiat currencies, and I presented a best practice that minimizes exposure to loss. That's all. I was pointing out that saying it's a pain in the ass is seriously overblown, because it's actually really simple, and a large number of common types of transactions that people never think about are actually more inconvenient.
Re:Bitcoin Bail-Ins and Yuan Bets by devishard on Monday August 08, 2016 @11:03PM (#12252312)
Okay, that wasn't at all clear from what you said, because you used a very bad example (sending checks--this is much easier than sending Bitcoin these days). But if your point is that Bitcoin isn't difficult in some general sense, sure.