jebblue wrote:
If it were true, the DOJ would have got on PayPal by now. Bitcoin is a different story, it's a pyramid scheme that is housed in foreign countries.
What Paypal does is almost entirely legal under their terms and conditions. That doesn't make them a trustworthy company to do any kind of business with.
BitCoin is peer2peer and full data is distributed to every single node, it's 'housed' everywhere. You could call it a pyramid scheme, but then you could call gold, land, US dollars, shares, shiny pebbles, and every other limited resource pyramid schemes too.
If some kind of cheap or free near-instant payment system gets rid of parasitic middle men like western union and paypal that has to be a good thing.