No. Catastrophic issues. The blockchain cannot scale to such a degree overnight. People (especially older folks) are not educated about Bitcoin and have no idea how to use it. That would cause MASSIVE confusion.
Additionally, there are enough Bitcoins, but not enough subdigits. The satoshi would be of incredibly high value, so we'd need digits below that. Fortunately those are easy to add, but we don't have them.
Bitcoin might be used by every country at some point in the far future. At that point it will be ready as well.
Good to see people whose minds are not clouded by the euphoria that seems to be going around. I agree with the above, and I would also point out that when people start using things like Bitpay, the merchant does NOT receive bitcoin. They receive fiat. Correct me if I am wrong on that. And ultimately bitcoin gets dumped on the market, so this has a hammering effect on the price. Also correct me if I'm wrong there. There are definitely issues that need to be addressed before btc becomes a global currency, which I have serious doubts about anyway. Try to not use too much logic and reason on this forum. It scares the cheerleaders and they'll attack. You're correct with one exception. BitPay has said in the past that they exchange their redeemed btc "off book" so they don't disturb the price. That's just another factor that keeps me from believing the current "market price". As long as huge btc buys and sells are happening "off book" there will never be a known true market price. |
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even if segwit was the most amazing scaling solution in the world, it wont help litecoin that much right now since litecoin barely has any merchants. it was just a p&d.
I think Litecoiners themselves would be the first to admit they won't have a capacity problem for a very long time, if ever. It would shine a light on them and attract more quality developers though. It would do more than that. All of the various side chain devs could look to litecoin instead of bitcoin. Litecoin could pass over bitcoin in short order if that happened. How would you like LN to go with litecoin instead? Dude you are worse than iamnotback at least have the balls and say it straight to our faces that you've bought a few bags full of LTC and now wishing for price to go up?  LTC only worth $5 tops and currently has been pumped by the likes of you. Why not visit yobit just for once and take your pick from the list of never ending crapcoins and throw SW at it to see it might get $4000 per coin Sorry to disappoint you sweet tits but I don't need to buy anything. I started mining ltc at almost the very first block. Yep, even after is wasn't worth it to mine btc with gpus anymore me and my buddy Reaper tore Litecoin the fuck up with 32 HD 5970s. ROFL I sold a shitload of them into btc above $30 per but I may still have a few laying around somewhere. LOL |
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even if segwit was the most amazing scaling solution in the world, it wont help litecoin that much right now since litecoin barely has any merchants. it was just a p&d.
I think Litecoiners themselves would be the first to admit they won't have a capacity problem for a very long time, if ever. It would shine a light on them and attract more quality developers though. It would do more than that. All of the various side chain devs could look to litecoin instead of bitcoin. Litecoin could pass over bitcoin in short order if that happened. How would you like LN to go with litecoin instead? |
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Well Meni, maybe this is karma in action. Bitcoin core devs and bitcoin hardcore supporters laughed as LukeJr turned his pool toward an altcoin without his miners permission and destroyed it. That hardly seems like a very Christian or a coexist thing to do. Turnabout is fair play, right?
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what if someday when bitcoin has become the main payment instruments in the world. and how when the Internet network paralyzed. it means that we all can not perform various financial transactions? , is there any solution ?
Use cash. I guess maybe cash would be dead earlier than the internet.  I'm not positive about it but I think cash slightly predates the internet.  |
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It is illegal here in the US to deface, destroy and alter money
Also, i think the concept of fiat being an IOU is way above your head So you can't explain how the concept of fiat is related to an IOU But somehow I'm not surprised. People which can't explain some concept in simple terms typically just don't understand it themselves, as simple as that. Regarding the US dollar specifically, it may be illegal to destroy, deface, and alter it as well as counterfeit it or whatever, but there is no Federal law that would demand any private business to accept dollars as a means of payment or even trade with you. In fact, any such business can just choose not to give a damn fuck about you. As I told you, go and read what the US Treasury department says on this issue. If you come to disagree, you may want to post a link to such a law We love you, Murrica! Don't waste your time responding to her. That's the only response she ever gives. "i think the concept of FILL IN BLANK being FILL IN BLANK is way above your head" Go look at her post history to find out. I'm calling "it" her because that's a stupid bitch trick. |
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Give a counting thanks for a post would be also great.
I don't understand why it will be bad for this forum if you can vote up threads or single posts.
If there is an option to disable it - i see no problem about this.
What if signature campaign operators made it a condition that their "employees" only upvote people with their signature. There would never be a thread with anything valuable at the top. |
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Not going to lie, it annoys me when I see multiple news articles about huge organisations thinking about using blockchain tech.
Why is bitcoin not mentioned in the same story very much?
I've been saying for years that the best of Bitcoin will be co-opted by big business/government and Bitcoin will be the forgotten founder of all the new technology that's being used around the world. Do you remember the Xerox Alto? It was the first computer to use the desktop metaphor and mouse-driven graphical user interface. Have you ever heard of Microsoft Windows? They stole the ideas of every great GUI designer from the Apple Lisa to Geoworks Ensemble and they won the game. Bitcoin will end up the same and just a sidebar to all of the big business money pouring into "blockchain technology". |
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Vitalik Buterin is going to be so fucking rich. I remember him talking, on this forum, about making a Proof Of Stake system that had a better scripting language than Bitcoin. As I remember it, he was arguing with a couple of devs over bitcoins weak scripting so he was going to make his own. Maybe it was The Bitcoin Foundation forums where I read that thread? A friend with a membership to TBF used to let me cruse the forum over there if I agreed to not post. That's probably where I saw it. Anyway, Ethereum is going to make him richer than anyone involved in Bitcoin. Good for him, it couldn't happen to a nicer guy. Bitcoin won't benefit from this at all though.
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It could simply be the Hong Kong Triads want a larger share of the money Bitfinex is holding. Organized crime in Hong Kong has members at every level of business and government. I wouldn't do business with anyone headquartered in Hong Kong if Jesus told me I'd go to hell if I didn't.
I especially wouldn't do business with any company that starts up in Hong Kong knowing their business is skirting the edges of the law like Bitcoin exchanges routinely do. That's an eventual recipe for theft. You may as well just use your money to start a campfire.
Also, they claim all the people from the hack were paid back but how do we know that's true? Where is it recorded? Is the data reliable?
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So i was skeptical back in 2013 when btc made their initial splash into the mainstream radar.
You mean you heard about it in 2013. Bitcoins initial big splash happened years before that when two articles, one in Galker and one in slashdot, let everyone know they could buy drugs at Silk Road anonymously online with Bitcoin.
I recently became interested in cryptocurrencies because i was finally able to wrap my head the ideas behind blockchain and now firmly believe it is the future.
I went out and bought some BTC, ETH and LTC
Why? Out of all the investments you could have made you chose crypto? Was it fast bucks, drug money or ideology?
Obviously Japan recognizing BtC as a form of currency is huge but i am wondering which of these cryptocurrencies will be around in 10-20 years time.
Does it matter? You'll most likely have three kids, a mortgage and a wife spending all your cash as fast as she can by then. Worry about today, that's more than most people can handle.
Most holders of these cryptos are in it for purely speculative reasons and in turn, creating large bubbles.
All "holders" are speculating but day traders/forex traders are creating the bubbles.
The only way thes bubbles will resolve is from 3 things that need to happen:
Wrong, these cryptos are playing in the world economy. It's almost infinitely complex. There are a mountain of reasons why bubbles happen. Here's one you might not know about: an exchange operator called Mark Karpeles used two trading bots and created a bubble because he was covering up his incompetence.
-wider usage . Btc needs to be able to be used to be able to purchase anything that traditional fiat is able to. This is obviously a no brainer. Btc needs to be spread out in the hands of more people
Would help but can't guarantee no bubble.
- price needs to stabilize - the fluctuation in price is insane and needs to stabilize, in order for this to happen btc needs further distribution. Hoarders (chinese farmers and early miners) are a negative, see below.
Bubbles are created by traders. I already covered that. Without trading watch cryptos shrink to nothing in short order.
- fiat currency needs to disappear- this is obviously a radical thought but fiat cannot be an option. The reason is, guys like the mysterious satoshi nakamoto, chinese btc farmers, the vinklevoss twins etc or anyone holding a significant amount of btc can literally tank the btc ecosystem by trading out a large sum of btc to lets say us dollars.
Not in your lifetime.
This would create a huge price instability, loss of public trust and then we circle back to square one.
Just wanted to share my thoughts.
I am in as a skeptical long term buyer but did want to address some possible pitfalls to btc
The items you mention aren't a downside or a pitfall. They are a normal aspect of commodity trading. Gold has been traded since forever and still has massive swings in price when trading is heavy. I don't mean this as a jab against you but If you're skeptical and unsure of your decision try something more stable and safe. Try a long term investment like government bonds. If you like the ideology behind Bitcoin stay and don't spend more money than you can afford to lose.
Not sure what you are gettin at, 2013 is when a great majority of people heard about bitcoin. Im not an idiot and understand it was around since 2009 but BTC did not enter the popular conversation till mainstream outlets wrote into it Also, i dont think you understand the fundamental concept of what a bubble is. Lots of speculation and not being used. Bitcoin and most other cryptos falls under this right now The great majority of people still don't know what Bitcoin is. Sure they may have heard about it but they don't know what it is. It really became something useful and exploded in use when the Slashdot and Galker articles were released. Silk Road put Bitcoin on the map. You didn't read everything I wrote. Bitcoin acts as both a currency and a commodity at the same time. You only like the currency part of that equation. Bubbles are normal for commodities and they mean Bitcoin is being used. To say bitcoins are being used for speculation and bitcoins are not being used in the same sentence is an oxymoron. Sorry for the late reply. Busy with work etc to call bitcoin a commodity. I get it, maybe you heard someone say it was a commodity but BTC is not a commodity and i dont think you understand what a commodity is Yes, I'm completely clueless. Definition of commodity
plural commodities
1
: an economic good: such as
a : a product of agriculture or mining agricultural commodities like grain and corn
b : an article of commerce especially when delivered for shipment reported the damaged commodities to officials
c : a mass-produced unspecialized product, commodity chemicals, commodity memory chips
2
a : something useful or valued that valuable commodity, patience; also : thing, entity
b : convenience, advantage
… the many commodities incidental to the life of a public office … — Charles Lamb
3
obsolete : quantity, lot
4
: a good or service whose wide availability typically leads to smaller profit margins and diminishes the importance of factors (as brand name) other than price
5
: one that is subject to ready exchange or exploitation within a market
… stars as individuals and as commodities of the film industry. — Film Quarterly Source: https://www.merriam-webster.com/dictionary/commodityCommodities Speculators
The second type of commodities trader is the speculator. These are traders who trade in the commodities markets for the sole purpose of profiting from the volatile price movements. Theses traders never intend to make or take delivery of the actual commodity when the futures contract expires. Many of the futures markets are very liquid and have a high degree of daily range and volatility, making them very tempting markets for intraday traders. Many of the index futures are used by brokerages and portfolio managers to offset risk. Also, since commodities do not typically trade in tandem with equity and bond markets, some commodities can also be used effectively to diversify an investment portfolio.
Source: http://www.investopedia.com/terms/c/commodity.aspCommodities trade on an exchange whereas foreign exchanges are over-the-counter and traded through brokers or in the interbank market. By trading on an exchange, commodities have daily range limits. When these limits are exceeded, the markets are said to be limit up or limit down, and no trades can be placed. If you are a commodity trader on the wrong side of one of these limit moves, you basically are watching your account dissipate in front of you without the ability to act.
Compromise: A trader looking for a compromise could trade commodity-based currencies. These currencies include the Australian dollar, the Canadian dollar, and the New Zealand dollar. Historically, the Australian dollar has a positive correlation (though the strength of the correlation varies over time) to the price of Spot Gold.
The dairy reliant New Zealand economy has a similar positive correlation with whole milk powder prices. Lastly, the Canadian dollar has a positive correlation with the price of crude oil. Therefore, with the strong trends in oil in 2014 through 2016, the Canadian dollar has similarly seen strong moves.
Another subset of the foreign exchange market is that of emerging market currencies. Emerging market currencies also reflect commodity growth and tend to have an inverse correlation with the US dollar. Commodity currencies also pay higher rollover then developed market currencies. Source: https://www.thebalance.com/forex-trading |
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The question needs to be clarified before it can be answered. By mainstream currency, do you mean fiat currency? If you do here's the reason it can't happen: Fiat currency is established as money by government regulation or law. The term derives from the Latin fiat ("let it become", "it will become") used in the sense of an order or decree. Government fiat is minted and controlled solely by the issuing government. By mainstream currency, do you mean a regularly used means of exchange used by the masses? If you do then it depends on government regulations and acceptance. Japan for example is becoming more open to Bitcoin than any other country. The U.S. treats Bitcoin more like a commodity and has stiff laws against making a competing currency. In the U.S. a man named Bernard von NotHaus was found guilty of counterfeiting charges for minting and distributing a form of private money called the Liberty Dollar. There are ways around that problem even in the U.S., during the Great Depression, local governments, businesses and individuals issued currency, known as scrip, to keep commerce flowing when bank closings led to a cash shortage. Scrip is legal but, by law, may not resemble federal bills or be promoted as legal tender of the United States. That's kind of where Bitcoin is now but people have always been hesitant to accept scrip as they would government fiat. It will take some time for wider acceptance to happen because trust must be established first. You're right, Bitcoin could serve all the functions of money you outline. It could be a medium of exchange, a unit of account, and a store of value. Widespread use as those functions depends on governments regulation of Bitcoin (or lack of), the individuals willingness to accept scrip instead of their local fiat, and bitcoins continued evolution. Right now, today, Bitcoin isn't ready for the job. |
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As you can see the topics here and the comments from the participants are in high quality and are very mature with intention to help,
why ?
because everyone want to join signature campaigns and get Bitcoins from big companies and from refferals.
everyone want to build there reputation here to make deals on the marketplace.
What i think on it ?
I think that it's amazing. it's common to see low level topics and posts in other forums. but here people have interst to help - and it's money.
here people learn to be more helpful and give good answer to people's questions.
the point is that bitcointalk gives value whatever the reason it might be. it does the work.
id like to see more sites that give value like it.
Other forums are worse than this one and have lower quality posts? Where do you normally hang out, 4chan? |
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Good grief, is there a button or something that lets you ignore everyone on the forum so you can only see your own posts?
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Hum, deja vu or should it be deja Gox.
Lol Yes it's happen again. If a company doesn't give a good impact for others and just cause the noise, it should be shut down to keep positive influence. Bitcoiners are doomed to repeat the same mistakes over and over. |
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Hum, deja vu or should it be deja Gox.
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its about prunned/no witness(Stripped) nodes are more then likely to kill off more than half the network
how about you stop preaching the blockstream half baked features, take off the blockstream defender cap and wear the critical thinking logical cap about whats best for the bitcoin network
here is your own self debunking the myth that dynamics and big blockers will kill half the network
So says franky1 McShillinsteen Dude, you got to be the #1 anti-core/ anti-blockstream shill on this site. Your shill-tastic posts always make me LOL I wonder how much shills get paid? Meh, it doesn't matter I guess. The whole core/classic/BU/blockstream subject bores me so much I wouldn't be able to make any money anyway. |
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That is too funny. I appreciate your hard work. MtGox is totes fine. ROFL |
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The great majority of people still don't know what Bitcoin is. Sure they may have heard about it but they don't know what it is. It really became something useful and exploded in use when the Slashdot and Galker articles were released. Silk Road put Bitcoin on the map.
You didn't read everything I wrote. Bitcoin acts as both a currency and a commodity at the same time. You only like the currency part of that equation. Bubbles are normal for commodities and they mean Bitcoin is being used. To say bitcoins are being used for speculation and bitcoins are not being used in the same sentence is an oxymoron.
According to the noobs, and to the majority of people. I will be happy if young people will share the cost of the beers after a Saturday night by just sending some BTC (OK, some satoshi) to each other via their web wallet on their smartphone, and they won't care about the technical background or about the future of BTC. If the form of the small payments could be a BTC wallet (and parallel a kind of commodity, to save value), it would mean that our work has been done well. That day is coming. Just be patient. Bitcoin is very young for payment networks. Today it's enough that it performs as a trading commodity and an occasional currency. Eventually it will be a currency that is also traded like every other currency in the world is now. |
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