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My problem with bitcoin, and why it will never replace physical currency

The current bitcoin price bubble has got a lot of people looking for a quick buck interested in BTC. Bitcoin has it's niche for sure, and I honestly see it as illegal transactions, like silkroad and money laundering.
Instability I see as a huge problem for btc. We are in the middle of a giant bubble right now. This is great for speculators....and no one else. If bitcoin varies so much in price day to day it discourages people from actually using bitcoin as a currency. Why would I spend a coin today if the price of a coin will go up tomorrow? Why would I accept a coin as payment if the price of a coin will go down tomorrow? Sure fiat currencies change in value, but no where near as much as btc.
Secondly, btc is incredibly insecure in my opinion. Recently strongcoin was infiltrated, and god knows how many bitcoins were stolen. The people who lost their coins will never see those coins back, all transactions are final. If your local bank was robbed, at least your deposit is secured by the FDIC. If there is ever a dispute between a buyer and a seller, the buyer is essentially powerless. If you buy something from a store with cash, you can return it. If you buy something online with a credit card, you can file a dispute with the card company or the company itself. You do not have that power with bitcoin. Regulation is not a four letter word as many on here would have you believe.
Please don't downvote simply because you disagree. I would love to be convinced otherwise!
submitted by jonscotch to Bitcoin [link] [comments]

Using Bitcoin safely: reddit can we have please an offline bitcoin swissknife to safely treat offline transactions?

tl;dr: I'm thinking something like offline transaction html file from strongcoin but enriched with support useful features from other sites.
It is safe to keep our values in paper or brain addresses (or wallet as you like) and the money you would keep in your pocket on an online wallet like srongcoin or blockchain.info or coinbase, etc. The problem is that if you begin to spend your bitcoins, sooner or later you will need to make a transaction from the paper wallet (or from the brain wallet) to your online wallet to refill it for the everyday expences.
I would like this procedure to be the most straightforward and safe possible.
  1. you need to collect your source paper address transactions in blockexplorer.com: http://blockexplorer.com/q/mytransactions/1YourSourceAddress into a safe usb key
  2. you need to have a pc with a safe offline linux distribution with a clean copy of https://www.strongcoin.com/downloads/offlineTransaction.zip and use it with the transactions taken from the usb keys (a live distro with a persisten partition could be good)
  3. you need to feed the same html offline transaction file with the secret key that you could just:
  4. write down with a virtual keyboard
  5. take from a qr code from your paper wallet with your pc webcam (blokchain.info has this program)
  6. or obtain from your brain putting your passphrase into an apposite field (bitaddress.org and brainwallet.org works perfectly).
  7. copy the transaction into the usb key
  8. copy the transaction in the page: http://blockchain.info/pushtx
This is a procedure that is a little safer but not simple. I would be a little simpler if the offline transaction html file could be enriched with a brainwallet function, a virtual keyboard function and a qr code reader function. Is there anybody interested? Am I thinkinig it wrongly? I'm not a javascript programmer. Could anyone assemble all the function in a handy offline html file?
submitted by gabridome to Bitcoin [link] [comments]

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