Well, for one it's impossible to know (and the other one was I didn't care,
because of the amount). Intermediation is costly. The *whole* point of
Bitcoin is to get rid of intermediaries which make money off other people,
like banks, insurance companies, corrupted governments, and so on. Why
would I use bitcoin, if my risk is higher and can get ripped of by people
the same way if I use the old system? If I want to spend months to
investigate which exchange follows a half-decent conduct, or pay 5% fees
for local exchange I might as well use the world-wide banking
infrastructure.

Again, the idea that world should operate without any laws whatsoever, is
not very well informed at all, and misses the whole potential that is
Bitcoin. Even in the middle ages there was the magna charta, which had some
basic human rights in it, also relating to taxes. I'm just annoyed at the
level of understanding of many people involved reading the dev-list. This
belief that they were born in this world, and this is the way the world
always was and will be.




On Tue, Oct 29, 2013 at 1:05 PM, Juraj Bednar <juraj@???> wrote:

> Hi,
>
> > For example exchanges. I wouldn't use an exchange that does not follow
> > some basic principles. Bitfloor owes me 200$. I don't know what they
> > have done with that money of mine and how the government was involved,
> > but having money stolen is not something which I find valuable. Do I
> > want exchange to follow a 1000 page book of rules? No, but 5 good
> > rules certainly. Cold-storage for one. Network security. Etc. That
> > principle applies to every transaction. If I buy some goods I want to
> > receive them. If I pay for a service I want to have that delivered
> > with high quality on a timely basis. The current understanding of this
> > aspect of the network is underdeveloped, to put it mildly.
> >
> Why did you send your money to an exchange that did not follow rules you
> find important?
>
> Of course there are rules to follow, but the enforcer is the customer -
> they either get your business or not. You made a wrong business decision
> and you paid for it.
>
> I don't use online exchanges, because I don't trust them. If there's an
> exchange that convinces me that they are usable, secure and cheap enough
> for me, I will use them.
>
>
>
> Juraj.
>
>
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>