WoW that is huge )

I really don't understand what they are trying to say with this Visualization. What the hell the physical volume of the value of the dept in 100 dollar bills means . I really don't get it.
A better visualization in my opinion would be in weighted pennyes converted to elephants or even better ants , and then stacked and the volume of the stacked ants would be the most insightful visualization ever.

Could you please elaborate? I really don't understand how come the dollar value is the reason there is a 21 million bitcoin limit.

I don't believe this .

Therefore the title should be : Economy not keeping up.

We're not producing enough products/services In BTC land. EXPORT

 It ain't wrong to take your life. It's actually better that being taken by others. You are responsible of other's feeling that is why you have to prepare them. I think of suicide a lot lately , most of the time when the effects of drugs are wearing off, but the most horrific times are when waking up after a heavy drinking night, completely unaware of what happened the past night, I keep seeing myself jumping of my balcony , cutting myself , sometimes devil faces hallucinations  (even if i'm atheist) , But then i think why would i do that , why would i end my life , why would i shut down my brain , why would i stop talking to my friends , why would i stop having fun , and simply shut down myself. I don't believe in afterlife or shit like this so this won't make it easier it would just stop , everything . Even if I would of been worthless , after this i would of became even more so. I would be food for the worms.

So bro your entire life , every happening , every color , every conversation , every substance you had contact with in you life "programed" your brain and your genes in a way that is UNIQUE to you, don't destroy it , use them , and pass them on. Take your friends and talk your problems with them ,( if you think that your problems aren't to be talked with them then they aren't real friends ) and resolve them using your uniqueness.

Don't go to shrinks unless you want to get drugged , otherwise they will sound like imbeciles , they use drugs to "soften" your brain and make it more receptive to their "advice" . This might help but in the long run it might makes things worse because at some point you have to quit both the meds and the nice shrink stories and talking . You've done the best thing so far you acknowledged that you might have a problem , now you can resolve it and you are the only one who actually can.

SO . It ain't wrong but it's a waste . Is waste wrong? No but still  WASTE.

Gold has value because we have faith it has. That's it . Not because of it's uses.

How about a BTC pawn shop. You could establish one with partners all over the world . Partners could get a nice piece of the commission to verify and store the property and the central pawner would supply the BTC. You would only need to trust/verify the partners and not every customer.

Non limited Bitcoin 

Sure you can. How do people asses Labor, how do people asses Drugs , How do people asses ideas? You can asses them in whatever currency you want BTC , USD , Both, and to whatever value you want. The exchange value only matters if you need/want too exchange the BTC for USD or USD for BTC. It represents one simple thing : What value of USD/PLN/EUR someone was willing to give away for one BTC and vice-versa .

If you need USD for resources you can always speculate and asses the BTC at higher values and ask less BTC for a certain product/service , or more , depends on how you asses them.  And then all that matters is how the customers will asses your product. If your assessment and your customer's assessment are close then the customer will buy.


But right now the BTC economy is quite small and it is mostly based on the exchange value because most of the BTC economy is composed of mostly traders which buy with dollars and add a small commission and then convert that value to BTC . If there were more producers and service providers assessing their products in BTC then the economy will move from one based on the exchange value (couplet to other currency) to one based on the assessment of BTC/PRODUCT and BTC/SERVICE.

That is an advantage over gold. Not being able to turn it in something useful makes it closer to a currency , because currency is meant to be traded for something useful. Gold is great to store value , so will be bitcoin. Gold started being used in industry just recently and still ain't heavily used so it represents just a small percentage of the price . Gold's "advantage" is that is physical , and quite hard to destroy . Bitcoin is just a digital form of gold.

That was exactly what i asked

So the question is :

If the current Ask price is 14.000 and the highest Bid price is 13.900 and a lower bit of 12.000 and someone is willing to sell at 12.000 , so he places a selling order at 12.000 . How will this exchange work. Will the highest bidder get what he bided for , or will the bidder with 12.000 ? If the one with 13.900 wins then what happens with the rest, does it go to the seller ?

Speculation makes the price now. And market manipulation by the largest currency holders (dollars or bitcoins) On the midterm both want BTC to rise . But for now the USD holders would like to get the best chance of making a profit so they would like to buy the BTC at the lowest possible price. Bitcoin holders would like to go higher. But then there are a lot of miners who need too pay for electricity and need to sell a part of they're mined BTC and this keeps the BTC kinda stable now. If there will be more speculators coming in with dollars then we will se a rise if not then maybe we will see a kinda stable market with a slight depreciation trend  like we saw in the weeks after the Hack.

Also keep in mind that there are quite a few that can make big profits right now and even go lower with the price if they believe their profit now is enough because they bought low .

1000 invested around 1 of June would get you around 500 if you sell now . This might be enough for some for others not. But those that sell allow the price to goo on a downward trend.

All this means shit because i don't know how many dollars or bitcoins are entering the exchanges . The ones that know this two parameters would have far better chances of guessing the future value.

No it can't.

There is no one thing that can solve all social/political issues.

It bothers me that people support anti drugs laws . You are free to not consume why does it need to be a law. If you believe a substance is doing you bad don't use it. Terrorism is just as war. You work in a country that might go to war some day . You are paying for those bullets , guns , tanks , secret agents . So you ain't different then those that support bin Laden. both bin Laden and the state funded armies kill .

I'm more bothered that bitcoin might support secret agents and "preventive attacks" or "democratisations" than terrorism.

Isn't this child prostitution? http://www.youtube.com/watch?v=oh9XgGGh4L4

The only problem i have is : Who is the one with the idea is it the child or some mother fucker ? Is the child pushed or forced in to doing something? Then anyway we have a problem be it porn or singing or just sitting. The problem ain't child porn or porn in general the problem is that many are forced to do it. This also applies to adults not just children. And that is where we have to work and not on stopping porn.

Oh and I don't care what the church heard from GOD what's "God" or "Bad"

Huge. I can only think of a huge rush to produce more electricity cheaper . What would be the power consumption if all cars would be changed with electric cars? We have the technology to produce enough  power. The problem is that there ain't much incentive to produce much more power right now because it can't be stored. What will be the technology in 20 years ? 20 years is a really long period at today's pace i can only think it will accelerate.

So basically you are saying that something that is engineered to gain value would help those people that are spending all their income on every day living? If you have none it won't bring you more. You need some that you are able to save to gain something from it's gain in value. Bitcoin like currencies have the advantage of not being centralised and so you don't have to convince a bank to lend you some money you can find a person that mined some and maybe start something profitable . If the currency looses value over time then that person might be even happier to spend the money on a business then stick to them. Once you create a product or a service you are in control over how much you ask for it. Now if we combine this with all the open source thinking that is happening all over the place we would have a really low point for entering in many businesses .

Weal if you barter you don't need currency . If you are willing to accept tomatoes for clothes then go ahead i would love to see you manage them. 

Barter would bring you loses and headaches that is all. Or you will accept to barter only for certain things ? Please explain how would a clothing manufacturer barter , so he will accept basically whatever you can throw at them and then they would try too sell those funny things to someone who wants them until they get what they need to produce the clothes or they would ask only for cloth slightly more then what was used to produce the previous clothes? Are you serious ?  This is exactly why  currency was invented so that everyone could accept it and not have to manage all those different things people consider of value , and that is also why currency shouldn't be a medium to store wealth because it's only purpose its to be given away for things you need.


So to make it clear. Bitcoin is a revolution and it should remain just as it is . A deflationary currency . It should behave just like gold because it is gold , digital gold. Gold was valuable because it is a material that ain't degrading so it can be stored. it didn't have any practical use until modern times when we started to use it in tech . But now i'm hoping for that successor of bitcoin that will free the world of organisations like states and banks etc. at least on the level of money.

and this ain't happening with Bitcoin?

Bitcoin changed the printing process of currency and that is great but by being limited it is GOLD. Some early adopters (we that are already in the system) will have large amounts and will be able to dictate the price others won't have at all. Now if a new currency i don't talk about Bitcoin but another one which would have an incentive for investing/spending for example inflation or taxation of wealth built in then i would adopt that currency . Bitcoin from what i understand has a constant monetary mass growth that is great until we reach the 21 mil limit then what will be the incentive to spend bitcoins other than changing in state accepted currency? If the hole purpose of bitcoin is a intermediary currency to facilitate transactions from one state backed currency to another or speculation than great it wont matter how valuable it will be. But i don't want an intermediary currency or digital gold i want global money printed by people and not by governments or banks or churches or other power pillar , that will facilitate trade and progress and not wealth.

Currency can't solve all the problems and it needs to be mixed with other measures but we are talking about currency here.

Great but dollars aren't printed by the people. Bitcoins are . My only problem with Bitcoin is that they are limited to 21 mil . Other then that Bitcoins are a revolution in money , fast and almost anonymous  transactions over the hole world with really small fees isn't possible with dollars or any other currency . So bitcoins are better than USD . To me bitcoin is too similar to gold witch I can't understand why it was valuable in the first place apart from it's property of being easy to store because it didn't degrade but bitcoin has some advantages over gold , easy divisible , everyone can mine it for now , will be harder in the future but still possible , easy transferable , maybe others.


Now i would like a currency that looses some value over time to make wealth holders spend it on things that get profit and not sit on them. I Think currency shouldn't be a wealth storing medium.