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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 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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