the message board for Dubai English speaking community
Bora Bora wrote:That was enough for me not to bother opening the link.
You don't provide the username and password. You just log in to your google account and google has an api to let other services identify you through your google account when you are logged in. So you don't have to make another account with other services. This is a very nice feature, I am thinking of adding it to DF in the future so that people that have facebook and google accounts can post straight away on DF.Flying Dutchman wrote:log with your google account (having to give username and password)
Sometime in 1995 the Internet opened for business and grew to about 8% of all consumer spending, estimated to be worth $279 billion by 2015 in the US alone.
The credit card became the default method of payment for this massive market, not because it was the best option, but the only option. For the last 15 years, if you wanted to buy something online, you eiher used credit cards, or you didn’t buy.
In their effort to stamp out card fraud (between 10-15% of all transactions) payment processors get consumers to give up their name, card number, security code, address, expiry date, and date of birth to every site they buy from (is it any wonder there is so much fraud) Their latest innovation is to require users to enter this information two or more times. Worse than useless, it’s actively harmful, costing users time, risking identity and losing money.
What about merchants? They pay for fraud twice over when it happens, losing both goods and payment after the card company does a chargeback. Considerable expense and time is needed to open a merchant account, when finally done processing fees that range from 3 to over 30%, depending on the goods bought and a minimum fee for each transaction. These added costs are all passed on to the consumer with higher prices. Regardless of what is advertised, no one actually has free fraud protection on their credit card. In fact, a hidden percentage of every single transaction that the merchant must include in the final price directly pays for that service.
The solution to all this...
The only thing that may seem "unfair" in the bitcoin system is that earlier adopters can earn much more than those who are late. But the same can be said about any new business affair. Those that started mining gold early got rich , but this doesn't make gold less preciousAmbassador wrote:I think it is a mispelled term should be 'BitCON' as it sounds like a Con to me!
"Bitcoin is not run by people with hot sexual appetites for hotel maids. It is not run by corporations. It is not governed by people with budgets to meet. It is governed by a mathematical formula," one trader and Bitcoin enthusiast told Reuters over a pint of Guinness in London's financial district.
He also likes that there is an absolute limit of 21 million Bitcoins built into the system.
"If you try to print more than 21 million Bitcoins, you will be rejected by cold, loveless computers whirring away in nerds' garages. It is a better form of money than we have right now, or than anyone has designed so far."
The trader, who was not willing to be named, said he spent four hours a day on Bitcoin, describing it as his second job. He estimated 90 percent of traders have bought it, most "looking for a quick 2,000 percent".
Workers at Morgan Stanley and Goldman Sachs in London and New York have been visiting online Bitcoin exchanges as often as 30 times a day, according to documents seen by Reuters. Neither bank wanted to comment.
Bitcoin’s value does not exist merely because “people believe in it” like with fiat currencies. Rather, it’s value derives from its usefulness. Bitcoins are valuable because their properties make them effective in the transfer, protection, and storage of value in an age increasingly digitized.
Monies are valuable because governments force them upon you (fiat USD and EUR, etc) or because they’re useful (gold and bitcoin). Bitcoin is by far the most exciting (and important) technology since the internet.
Which financial experts? Source please.FlyingDutchman wrote:Andyba, what is your respons towards financial experts who say Bitcoin is a pyramid scheme?