

Why Cryptographic Currencies Matter - csomar
http://omarabid.com/why-cryptographic-currencies-matter/

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atmosx
irb says 1652 words for saying nothing. I'm not a hater or anything just let
me run you through some awesome quotes:

 _Now here is the point that matters: Whatever is your ethnicity, race,
religion, nationality, credit score, job, or social status; you are free to
use, hold and transact with Bitcoins._

And which currency or asset does require nationality or color
certifications??? Seriously, is this an argument?!

 _Today, a huge number of people face restrictions when opening a bank
account. Some people are restricted access to foreign currency and can’t make
international transactions. Some people may not be able to start a business
because they can’t have a bank account for silly reasons related to their
background or looks._

And these people are now saved by bitcoin????? Are we talking about drug, army
or other illegal transactions or are we talking about _regular people_?
Because, when you have problems with a bank it usually boils down to _you_ NOT
having MONEY!!! And if you don't have MONEY I don't see how bitcoin is going
to save you.

 _It’s interesting that there is a huge highlight these days on Privacy; and
yet there is no mention of economical freedom._

There's a clear misunderstanding of bitcoin, currencies, the economy the world
and the universe as a whole...

~~~
csomar
_And which currency or asset does require nationality or color
certifications??? Seriously, is this an argument?!_

Many countries have currency restrictions. While you can hold foreign currency
in paper format, you can't do most of the transactions as you'll need a bank
account or a middle men (like Western Union).

Discrimination is also prevalent in banking. Just because you didn't have
issues, it doesn't mean discrimination doesn't exist.

 _And these people are now saved by bitcoin?????_

Bitcoin is too early, small and volatile to be usable today at a large scale.
But that's not the point.

 _Are we talking about drug, army or other illegal transactions or are we
talking about regular people? Because, when you have problems with a bank it
usually boils down to you NOT having MONEY!!! And if you don 't have MONEY I
don't see how bitcoin is going to save you._

That's like saying if you've got nothing to hide, you've got nothing to fear.

~~~
atmosx
Firstly sorry if my comment was harsh, I get you're the author. I didn't meant
any disrespect.

 _Many countries have currency restrictions. While you can hold foreign
currency in paper format, you can 't do most of the transactions as you'll
need a bank account or a middle men (like Western Union)._

How are you planning on buying bitcoins since no one, as far as I know, is
going to pay you in BTC. You still need a middleman to get access to that
currency and the most secure way is via exchangers that are accessible via
bank-accounts (coinbase, mtgox, e-btc, etc.)

 _Discrimination is also prevalent in banking. Just because you didn 't have
issues, it doesn't mean discrimination doesn't exist._

Sure it exists, between poor and rich. There was always in mankind history
this strong discrimination. But I don't see any specific examples of other
kind of discrimination here, I can't come up with any and you're not helping
me either. In which cases, you have the money/assets, but you can't buy
USD/EUR/Gold/Bitcoins???

 _[..] That 's like saying if you've got nothing to hide, you've got nothing
to fear._

If you have money to hide, I'm pretty much sure that the people you are going
to turn in order to hide them are bankers. So if you HAVE the money, finding
privacy is not _that_ hard, there are many WS giants[1] involved in money
laundering for ages. Only the IRS does not know about it.

[1] [http://www.reuters.com/article/2013/09/19/us-jpmorgan-
whale-...](http://www.reuters.com/article/2013/09/19/us-jpmorgan-whale-
idUSBRE98I0JL20130919)

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Gonzih
>Whatever is your ethnicity, race, religion, nationality, credit score, job,
or social status; you are free to use, hold and transact with Bitcoins.

And you are free to be traced through the system. I bet that there is a way
already to trace persons behind transactions. All exchange markets can be
forced to give information. All information inside system is open.

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interstateone
I feel like this article could have been expanded on some more, as I'm not
entirely convinced.

Isn't there currently an inherent bias in bitcoin towards affluent, tech-savvy
users? Has the author tried to purchase bitcoins recently? Unless you find
someone that will trade for cash, or happen to have some sort of ATM that will
trade you and will accept the background check that it will probably perform,
you will likely need some sort of bank account or previous approval from some
sort of authority to purchase bitcoins.

That's been my experience thus far, but I'd be curious to hear of examples
that make it easier for users who don't necessarily meet some of the usual
requirements.

