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A comment on Billionaire Mike Novogratz says 10% of his money is in Bitcoin and Ether. Parent comment

Re:Billionaire Mike Novogratz says 10% of his money is in Bi... by azag0 on Friday April 21, 2017 @09:55AM (#14165618)
It saddens me that bitcoin's path towards a common payment network is so slow. I've always liked the technology (or the core ideas behind it), but its adoption is hindered by popular and factual association with illegal activities, and by the recent stagnation regarding scaling.
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Re:Billionaire Mike Novogratz says 10% of his money is in Bi... by maxerickson on Friday April 21, 2017 @09:58AM (#14165659)
Plus it is hard to use and distributed network trust isn't particularly advantageous compared to a legal system.
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Re:Billionaire Mike Novogratz says 10% of his money is in Bi... by aminorex on Friday April 21, 2017 @12:29PM (#14167014)
Use of the legal system is restricted to corporations and HNW individuals (who typically have multiple corporations, so....)
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Re:Billionaire Mike Novogratz says 10% of his money is in Bi... by maxerickson on Friday April 21, 2017 @12:38PM (#14167094)
No, most banks will reverse illegitimate transactions for run of the mill customers.
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Re:Billionaire Mike Novogratz says 10% of his money is in Bi... by aminorex on Friday April 21, 2017 @08:13PM (#14170421)
I see, so the banks are the new judiciary?
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Re:Billionaire Mike Novogratz says 10% of his money is in Bi... by maxerickson on Friday April 21, 2017 @11:12PM (#14170937)
No, they are required by laws to do certain things and courts only have to come into it when they don't do them.

I didn't say "go to court", I said "a legal system".

Users of bitcoin can also use the legal system to do things. But then you are messing with bitcoin for what reason?

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Re:Billionaire Mike Novogratz says 10% of his money is in Bi... by aminorex on Saturday April 22, 2017 @02:03AM (#14171291)
Because I want my grandchildren to be free humans, to live out their lives in productive, peaceful harmony (and yours). Debt-based currency and monitored, controlled transaction systems are fundamentally incompatible with this goal.
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Re:Billionaire Mike Novogratz says 10% of his money is in Bi... by maxerickson on Saturday April 22, 2017 @02:04PM (#14173755)
It'd be interesting to construct a model of bitcoin as debt, the debt being the future energy costs needed to run the network (which is necessary for bitcoin to have any value today).
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