Draithljep

http://www.reddit.com/user/Draithljep

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Draithljep28 karma

The Joe Rogan Experience is an excellent podcast, here are links to the episodes featuring /u/andreasma:

Draithljep15 karma

Mandatory IAMA question: Would you rather fight a horse-sized duck, or 100 duck-sized horses?

Really though, I just wanted to thank you for opening this rabbit-hole for me with this video, you have changed my life.

Draithljep4 karma

In this case, the DMCA--a statute passed by Congress--says that the Library of Congress and Copyright Office have to make rules every three years.

Presumably this 'triennial rulemaking' would not be deemed nessesary once enough of the big players have had their victories in this space.

Draithljep4 karma

You are a little confused about the transaction process here I think. The card terminals contact the server of the issuer, say Visa, and recieve a reply to the effect that the transaction is valid. This process takes a few seconds at most usualy and it will be declined if balance is not available or card is cancelled etc. In the same way, a bitcoin transaction propagates around the network to the nodes nearby and they ensure it's validity in just a few seconds.

Visa transactions can be reversed for quite some time, paypal too, and that period is akin to the time before the bitcoin transaction is placed into a block (1 confirmation), so in a few blocks (say 30-60 mins) you can be sure that the transaction is now irreversible in the same way as your 3-6 month old CC or Paypal transaction.

TLDR; both systems take the same time to confirm that a transaction is valid, but the possibility of charge back is much much quicker with bitcoin.

Draithljep3 karma

I don't know what to say, I've used bitcoin in person in store a dozen times and the merchant has always received the transaction within seconds, except in one case; I was in Singapore on holiday, and my local pay-as-you-go sim had no more money on it, ergo, my transaction wasn't sent from my phone until I was able to connect to their wifi which required me asking for the password etc.

It's a shame you are getting downvoted, sorry.