Money Transfers (Xoom, Azimo) To Require A Cuil

[ben]

This is really a silly argument.

The problem with dogmatic positions is that a certain buzzword can get people going without any thought as to context and the situation.

Nobody is discussing whether Bitcoin is a good investment vehicle/long term store of value. (You can tell that the argument is silly when the question is whether Bitcoin - or anything in the world - 'works', without a clear use case). The question in the context of this thread, is whether it's a good (where 'good' is defined relative to other possible avenues) way to get money into this blessed country.

In that context, the usual arguments about Bitcoin's 'validity' are completely beside the point. Let's assume that Bitcoin is indeed a fraud that will at some point blow up. If I'm buying and selling this fraud from/to people who believe in this fraud, and my money gets here intact, who cares? The only practical issue is whether this presumed Bitcoin implosion will take place exactly during this transaction - a risk which can be rationally evaluated without dogmatic positions on whether Bitcoin is the work of the messiah or the anti-crist.

 

[scotttswan]

Exactly, you never know when it will blow up, but it has in the past and will almost certainly will in the future.

 

[ben]

Exactly, you never know when it will blow up, but it has in the past and will almost certainly will in the future.

Even so, a reasonable person may well conclude that the likelihood of this happening in the next 15 minutes is low enough to take the risk for a transfer of, say, 800 dollars.

 

[scotttswan]

Even so, a reasonable person may well conclude that the likelihood of this happening in the next 15 minutes is low enough to take the risk for a transfer of, say, 800 dollars.

why take the risk? There's another 50,000 seized drug coins being auction. Those sold would easily crash the market in minutes.