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Ireland should we embrasse Bitcoin !

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Comments

  • #2
    darkpagandeath
    Closed Accounts Posts: 24,465 ✭✭✭✭darkpagandeath


    Sure why not, We already allow MN companies Avoid tax.


  • #3
    alb
    Registered Users Posts: 1,259 ✭✭✭alb


    handlemaster wrote: »
    http://www.independent.ie/business/technology/news/uk-aims-to-cash-in-as-a-world-bitcoin-capital-31080539.html


    Should Ireland steal a march on the rest of Europe and encourage companies like Bitcoin to have exchanges in Ireland

    Bitcoin is not a company, it's a protocol - an invention.


  • #4
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭handlemaster


    Crooked Jack wrote: »
    Oh, I'm really sorry to make the first reply about "embrasse" but here we are


    I was waiting for that :)


  • #5
    Dep!
    Banned (with Prison Access) Posts: 259 ✭✭Dep!


    I'd embrasse a spellchecker before embrassing a made up currency that could go bang any day without warning.


  • #6
    Mint Aero
    Closed Accounts Posts: 3,570 ✭✭✭Mint Aero


    Wow is it 2013 again? :rolleyes:


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  • #7
    alb
    Registered Users Posts: 1,259 ✭✭✭alb


    Dep! wrote: »
    Im embrasse a spellchecker before embrassing a made up currency that could go bang any day without warning.

    Lets leave the Ukrainian Hryvnia out of this.


  • #8
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭handlemaster


    Dep! wrote: »
    Im embrasse a spellchecker before embrassing a made up currency that could go bang any day without warning.


    :)


  • #9
    kneemos
    Registered Users Posts: 20,407 ✭✭✭✭kneemos


    We should embrasse litres of beer . What's up with that?


  • #10
    alb
    Registered Users Posts: 1,259 ✭✭✭alb


    On a serious note it would be an interesting idea, buy up some reserves on the quiet, then open the gates to the Bitcoin industry, try to become the silicon valley of Bitcoin companies, there's already a couple in Ireland anyway, and the recent regulation for digital currencies from the New York financial regulator was a bit more restrictive than many would like. It's a new industry looking for a home, what would Ireland have to lose by trying to capture it?

    EDIT: Isle of Man already trying it http://uk.businessinsider.com/the-isle-of-mans-plan-become-bitcoin-fintech-paradise-2015-3?r=US


  • #11
    diomed
    Closed Accounts Posts: 4,744 ✭✭✭diomed


    This is "Jack and the Beanstalk" but with computers?


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  • #12
    strobe
    Closed Accounts Posts: 7,872 ✭✭✭strobe


    Dep! wrote: »
    I'd embrasse a spellchecker before embrassing a made up currency that could go bang any day without warning.

    All other currencies of course having the double whammy of not being made up, and not being at risk of going bang any day without warning?
    All those not made up currencies that are impervious to collapse. Like the flangdoodle, and the skipablopo?


  • #13
    porsche959
    Closed Accounts Posts: 2,499 ✭✭✭porsche959


    Bitcoin is quite capable of embarassing itself. Doesn't need our help.

    http://www.theguardian.com/technology/2015/mar/18/bitcoin-deep-web-evolution-exit-scam-12-million-dollars


  • #14
    alb
    Registered Users Posts: 1,259 ✭✭✭alb


    porsche959 wrote: »
    Bitcoin is quite capable of embarassing itself. Doesn't need our help.

    http://www.theguardian.com/technology/2015/mar/18/bitcoin-deep-web-evolution-exit-scam-12-million-dollars

    People gave their bitcoins to an anonymous illegal drug market acting as an escrow. The anonymous illegal drug market stole them.

    If you gave your euros to a junkie on O'Connell street who said he'd be right back with your product, but did a legger would you say it embarrassed the euro?

    The lesson here is don't give your money to anonymous strangers, if you don't want to risk losing it.


  • #15
    TheLastMohican
    Registered Users Posts: 1,837 ✭✭✭TheLastMohican


    How To Embarrass A Bitcoin?


  • #16
    weldoninhio
    Closed Accounts Posts: 14,311 ✭✭✭✭weldoninhio


    An unregulated financial system. What could go wrong??


  • #17
    Buona Fortuna
    Closed Accounts Posts: 3,507 ✭✭✭Buona Fortuna


    Dep! wrote: »
    I'd embrasse a spellchecker before embrassing a made up currency that could go bang any day without warning.

    Yeah we want some of that action. If it all goes base over apex we can get the Troica (grand bunch o'lads) back in,


  • #18
    alb
    Registered Users Posts: 1,259 ✭✭✭alb


    weldoninhio wrote: »
    An unregulated financial system. What could go wrong??

    What are you afraid of?


  • #19
    JG009
    Registered Users Posts: 2,482 ✭✭✭JG009


    weldoninhio wrote: »
    An unregulated financial system. What could go wrong??

    It is regulated in the sense that it is finite. There is no govt that cant print more when they feel llike it. There will only ever be 21 million. Its next to impossible for govts to tax or seize ( if stored and encrypted properly). It is anonymous, to a certain point anyway. In a nutshell its the first worldwide currency of the people without government regulation.

    What could go wrong? People have a means of exchange without the need for government currencies? Power is being taken away from the federal reserve? Oh no!


  • #20
    Spunge
    Registered Users Posts: 2,779 ✭✭✭Spunge


    alb wrote: »
    People gave their bitcoins to an anonymous illegal drug market acting as an escrow. The anonymous illegal drug market stole them.

    If you gave your euros to a junkie on O'Connell street who said he'd be right back with your product, but did a legger would you say it embarrassed the euro?

    The lesson here is don't give your money to anonymous strangers, if you don't want to risk losing it.

    It was basically the same as ebay (with lots of feedback and reviews), only if you left your funds on the site itself were you at any real risk of loss from the site being gone.


  • #21
    darkpagandeath
    Closed Accounts Posts: 24,465 ✭✭✭✭darkpagandeath


    weldoninhio wrote: »
    An unregulated financial system. What could go wrong??

    Ha, The highly regulated Fiat currency system works a treat does it not ..... :pac::pac::pac:


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  • #22
    alb
    Registered Users Posts: 1,259 ✭✭✭alb


    Spunge wrote: »
    It was basically the same as ebay (with lots of feedback and reviews), only if you left your funds on the site itself were you at any real risk of loss from the site being gone.

    Except ebay is a non-anonymous company which means there are consequences for them if they just decide to steal all the escrowed funds, which acts as an incentive for them not to do that.

    If you want to buy from a market place where you can trust neither the seller nor the market middleman itself you need a trustless escrow. The funny thing is that since bitcoin is programmable money they technically could have made transactions that can by held in escrow by the market but *only* be either paid to the seller or refunded to the client, with no possibility of the market keeping the money.

    I've never used any darknet markets but I would guess that one using trustless escrow is inevitable as soon as customers understand the need for it and demand it. It may need to get a bit more user-friendly to implement too.


  • #23
    kowloon
    Registered Users Posts: 13,264 ✭✭✭✭kowloon


    Stocking up on tulip bulbs myself.


  • #24
    johnny osbourne
    Closed Accounts Posts: 4,017 ✭✭✭johnny osbourne


    i have a cool million dollars of bitcoins, will swap for a good van


  • #25
    alb
    Registered Users Posts: 1,259 ✭✭✭alb


    kowloon wrote: »
    Stocking up on tulip bulbs myself.

    ding ding ding, winner of first 'tulip' comment goes to kowloon. But don't give up, 'ponzi' and 'scam' and 'mtgox' are still up for grabs.


  • #26
    Desolation Of Smug
    Closed Accounts Posts: 760 ✭✭✭Desolation Of Smug


    Eircom shares are where it's at. Or rental houses. Bitcoin is too risky.


  • #27
    kowloon
    Registered Users Posts: 13,264 ✭✭✭✭kowloon


    alb wrote: »
    ding ding ding, winner of first 'tulip' comment goes to kowloon. But don't give up, 'ponzi' and 'scam' and 'mtgox' are still up for grabs.

    Did I hit a nerve?


  • #28
    Permabear
    Closed Accounts Posts: 39,022 ✭✭✭✭Permabear


    This post has been deleted.


  • #29
    alb
    Registered Users Posts: 1,259 ✭✭✭alb


    kowloon wrote: »
    Did I hit a nerve?

    yeah you got me. Tulips. There's no comeback to that.


  • #30
    alb
    Registered Users Posts: 1,259 ✭✭✭alb


    Permabear wrote: »
    This post had been deleted.

    Not in much of a visible way at least. There's almost no bricks and mortar merchants accepting it here. I used to be hopeful about this aspect, but I no longer am, Bitcoin will have to grow first in the places it provides the most benefit, and that won't be the high-street in Ireland.


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  • #31
    kowloon
    Registered Users Posts: 13,264 ✭✭✭✭kowloon


    alb wrote: »
    yeah you got me. Tulips. There's no comeback to that.

    You seem pretty angry considering how innocuous my post was. No need to be so pissy.


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