Bitcoins

[Deleted User]

BoracicLint wrote: »

JP Morgan is trying to compete with Bitcoin, applying for a patent for a 'digital wallet' and instant, anonymous payment transfer service

They've had that patent since the 90s and the connection between it and cryptocurrency is non-existant, it's more PayPal than Bitcoin, it's a non story: http://www.businessinsider.com/debunking-jp-morgan-bitcoin-2013-12

JohnRo

citricsquid wrote: »

They've had that patent since the 90s and the connection between it and cryptocurrency is non-existant, it's more PayPal than Bitcoin, it's a non story: http://www.businessinsider.com/debunking-jp-morgan-bitcoin-2013-12

I agree the patent that has caused the story is ambiguous but for me it is more a statement of intent. Let's face it, bitcoin and the nature of the network that secures it, threatens to destabilise the centralised corruption and manipulation that keeps the likes of JPM and Goldman in the manner to which they've become very comfortably accustomed.

BoracicLint

Jegersmart wrote: »

I don't think ANY financial institution has "credibility" to offer this type of "currency" - mainly because JPM and almost every other large institution are committing fraud and other illegal activities (including tax evasion ofc) on an ongoing basis. I do keep cash in a bank purely because I have to, I certainly would not trust JPM or any organisation like them with this type of scheme.

I don't see it as a "disadvantage" to be associated with a currency that the media is propagandising with connections to criminality. After all, my normal fiat currency is by far the most used in money laundering, tax evasion and all forms of crime generally.

I think the problem is that most people do not know or do not care to know how corrupt the current institutions, how they operate and how much they cost us as a society (and taxpayers!).

DYOR ofc.

J

We all know how corrupt financial institutions are, what I mean by 'credibility' is the strength and the power that they have, not to mention the politicians in their pockets, along with the media to drive popularity and encourage wider adoption.

The media has done a good job so far of promoting the 'Bitcoin=bad' message

lvader

What makes you think bitcoin changes any of that? As soon as the bitcoin market is worth manipulating they will, they may already be doing it!

mmedia

Can someone tell me the idiots guide to buying some bitcoins?

I have read through quite a few pages here and i am normally quite tech savvy, but this is driving me crazy :rotfl:

csm888

mmedia wrote: »

Can someone tell me the idiots guide to buying some bitcoins?
I have read through quite a few pages here and i am normally quite tech savvy, but this is driving me crazy :rotfl:

Small scale try (<£500)
https://bittylicious.com

Larger buys use
https://www.bitstamp.net

For both you will need to register and verify your account (this means send them a scan of passport/utility bill)

mmedia

csm888 wrote: »

For both you will need to register and verify your account (this means send them a scan of passport/utility bill)

Ok thanks, it has to be a scan? No photos? I don't have access to a scanner here.

[Deleted User]

mmedia wrote: »

Ok thanks, it has to be a scan? No photos? I don't have access to a scanner here.

Photos are fine as long as they are in high definition and every part of the document is clearly visible (as they would be in a scan). I've used photographs (taken with an iPhone) for multiple exchanges (incl. Bitstamp) and had no problems.

sabretoothtigger

try localbitcoins. You can just meet up with someone in person or do it online personally via escrow

mmedia

Guys, what are your thoughts on Worldcoin?