

Bitcoin comes out swinging off the ropes - rjweapon
http://thedailyattack.com/2011/06/29/bitcoin-comes-out-swinging-off-the-ropes/

======
zacharypinter
Bitcoin definitely has problems it needs to solve. However, one of the coolest
things about Bitcoin is that there are so few hurdles in implementing
technical solutions to the problems it needs to solve.

Worried about buying something and getting scammed? Develop an escrow service
or a reputation system or some other interesting solution.

Worried about the security of your wallet file? Think about how distributed
file systems like Wuala work. What about making a system where you work with
your friends to have a distributed and encrypted backup of all of your
wallets? Tack on a mobile API and you can access it from your phone without
needing your own 24/7 server or a central authority.

Worried about price stability? Develop another escrow-like payment service
that gives a pay date range (say a week) and offers to refund the purchase or
increase the purchase amount (up to a certain point) if the value of bitcoin
changes too much during that time. Or, (more likely) think of a better
technical solution on top of bitcoin that allows for stable pricing even if
the value of bitcoin fluctuates.

Worried about government crackdowns and exchanging for dollars? Develop a
craigslist alternative where people can trade their physical goods for
bitcoins with other users nearby.

------
macavity23
This is great news. There was always going to be some kind of security
incident with people rushing to get their BTC-based sites up, and after the
hype bitcoin had generated it was inevitable there would be many who thought
that the bubble had now popped.

If BTC can now show it is still viable after its recent troubles, it comes out
looking much stronger because of them.

------
nextparadigms
I was actually surprised it stayed so steady after all the hacking/malware
headlines. It seems those types of headlines can't easily scare away Bitcoin
owners. They truly believe Bitcoin is here to stay, no matter what _temporary_
obstacles may appear.

------
mef
Nice to read an article with the fundamentals of Bitcoin correct in contrast
with the largely inaccurate stories from the past week framing the Mt Gox hack
as a Bitcoin failing.

