epscylonb

and economists are always right?, how come so few saw the 2008 crash coming?

bitcoin is born out of a distrust with the current global economic status quo

not sure what your point is, my point is that in a bitcoin economy you would have choice

for a large purchase either the merchant or the customer may insist on an expensive escrow service that deals with disputes robustly

for small purchases this might not be so important

I saw a comment on HN recently asking why startups never challenge the VISA/MasterCard hegemony, with a response saying it is simply to expensive to enter the market with a low ROI

widespread bitcoin use would lower the barriers for this kind thing, unless you like monopolies and cartels, I can't see how anybody would argue this is a bad thing (regardless of whether you think bitcoin is good, will suceed, whaterver)

seems to work for paypal

in a large mainstream bitcoin economy there would be multiple escrow services, both the consumer and merchant can decide what services they will use

clearcoin has the option of donating the money to charity if there is a dispute, seems like an interesting innovation to me

A large scale bitcoin economy would not look too different to the average user than the current economy does.

An average joe would not run bitcoin themselves, they would use a bitcoin bank, check out mybitcoin for an early example of such a service.

wouldn't content producers rather use kickstarter?

needs more bitcoins

Invisible hand of the free market my friend.

If a bank lets a thief get away with an unencrypted harddrive full of bitcoins who is going to ever use them again?.

Bitcoin is a strange concept, I am not convinced it will take off but the potential is amazing.

i don't understand how you could decentralize DNS any further, somebody has to administer it

I do think this proposal could lead to dark net, where people have to remember ip addresses to get illegitimate content