well this thread is sorta getting embarrassing for OP.

The real answer is not to just invest in BTC, but have some LTC, Peercoin, NXT, even Doge etc etc.

If BTC does fail LTC or others will take its place and not make the same mistakes.

They print a Y infront of the serial number of Greek Euros and X-in front of the serial number for german Euro's.

This is by design of the central bank.

http://www.telegraph.co.uk/finance/personalfinance/11691232/I-am-going-on-holiday-to-Greece-should-I-avoid-Greek-euros.html

I am not 'creating panic' just stating it as it is, and making a personal comment after that.

this is why perhaps POS/Peercoin may have an advantage.

Running a node costs less, so it could become much more distributed.

Eg as raspberry pi.

2000$ in peercoin guarantees hardware costs in about 2 years.

there is no such guarantee with asics infact quite the opposite.

I never realised until today, that the printed Euro was not fungible, eg the first letter of a Euro at least show which country it is for. This means Greece Euro can be devalued in a day to worthlessness.

It seems the Euro was set up to fail or at least with easily implemented mechanisms to carve out remember quickly.

I would be getting my "money" out of EURO or at least Greek Euros ASAP.

NO

you would just fork bit coin and the 42 million inflated bit coin would just become worthless as they would be uncertain that it would not happen again

the original chain would continue with all its value. That's part of bitcoins tech/design.

Sure you can fork, but you get to live with your fork, and still live on the original.

The whole essence of BTC is not the number of coins but that your overall share cannot be diluted.

This sort of article is FUD about how to try and stop the inevitable rise and rise of BTC. What they dont understand it that a BTC in divisible to 10^8 and essentially limitless. So there is no need to try and make more.

There is no bitcoin executive anyway.

I'm a little surprised at Micro Guy for frameing it this way, as he would clearly understand the implications of such a fork being it would just make a chain with no value, while 21M carries on. Micro Guy has been very solid and a tireless worker for GLD (Gold coin)

this is actually a very good point....the halving allow less dump from miners.....a balance has to be I suppose that the cost to secure the blochain has to be high enought o make it hard to be arbitrarily taken over. So even though that fugure may seem high whats the value proposition. Eg cash handleing and banking costs per day for the proportion of displaced business.

my back of post card calcs say there about 1 million bank branches in the world....and they probally cost 1 mill each per year to run. so $38 perday per bank branch is not so much.

If I am out by and order of magnitude then $380 bucks per day seems ok as well per bank branch.

Do i think btc can take a good percentage of bank and related costs for money handling probably.

of course this is where POS comes in and high value backbone, so peercoin may be the answer here, where mining = 0$ or near that.

here a few things to consider why BTC tech has value
Quantitative Easing:
No Capital controls
Jurisdictional arbitrage
Individual sovereign wealth

also the byszantine generals problem that BTC sovles (to a large extent) is paradigm shifting.

the wealth is backed quite a bit just by that.

Fiat and everything else before it a order of magnitude or more removed from the implications and operation of BTC tech.

It just so hard for many people to grapple with the concept of the blockchain and actual decentralization....it like trying to explain the internet to the last generation or 2 x 10.

I am of the view we are in hyperinflation in most countries including western countries, it just that we have been pacified so much and mechanisms of pacification are so much more pervasive that we have not seen the same same social dislocation.

I posit that

[1] Jobs are defunct for meaning full income anymore as they
[a] do not keep up with cost of living by a long shot
[b.] insecure

[2] We are "free" and thus it out fault for makeing wrong life choices, is the line tha's fed out and accepted

[3] Money (Fiat) has become a mechanism of strip mining wealth from productive work. Eg the banks print and give to their friends, who then enter the market to take away goods, property, services and political representation, health care, etc etc.  The crumbs left over let you just be oil for the machine of keeping this all rigged together.

The way this has crept in particularly in the social discourse and the splitting, fracturing of social groups, means we bascially don't know who is been taken away nor why, for "crime", "financial ruin". Even if we did care, we are so busy trying to just stay afloat, we just don't have the time. It doesn't matter where most of us are, we have to get the next "qualification", education cert, experience or lead, etc etc. We have piecemeal/fragmented view of events and people, which makes it very hard to ascertain or ascribe cause, meaning, truth or discourse.   

What money is itslef is the problem. By and large people just dont understand what a Fiat/FRB/Bassel Accord, and the implications and while it can be good to bring capital and labour together, it no longer working that way. Money has be come a magnification tool to increase persons share of the entire pool causing stultification of new business, competition, entrepreneurs, the political discourse.

People just quote its X billion so its important issue.

One trite tactic I sometimes use, is to suggest that if money is important just print more.

I am trying to get at that value is now basically divorced from Fiat.

In this is one of the drivers to spur on Crypto's as its hard to inflate them and hand out to rent seekers, and friends.

BTC will go to 10K in time and 100K after that.....5~7 years inmho.

I just wonder how all the Bitcoin is Dead [again] people will feel?

I mean they are legion and committed to print everywhere....Imagine to not only have written that but to know you could have bought in back at 100,200,1000 etc.


[I'm not sure why we are having the current pump, and I am def not saying this is the trend that may or may not take us to make 1K the new $100 etc]

how close is this project to

http://www.blockstream.com/blog/

uh no you couldn't....even if you took bitcoin down there a thousand more crypto's ready to go that will not be subject to that problem.

The crytpo model is out, it can't be turned off and is hydra.

Bitcoin tech makes banks function at least %50 irrelevant.

my $200 robot vaccum cleaner has left me un employed from a lot of vacuuming....however it does require some maintenance/care, and cannot pick somethings up as well as the push upright dyson. However it can cover alot more area than I can as it does all the edges and does not get bored.

This tech will improve.

I enjoy to vaccum and dig in the yard, build stuff though...sometimes.....so maybe it will become like running is now, a recreational fitness thing

When a robot can do dishwashing and hanging up the clothes.....

 

Good points.  I suspect that much like the tax relocation of Business to favorable jurisdiction will occur, much like the apple ireland holand thing.

Some countries will most likely always have favorable laws to attract capital, and the companies will set up effective vehicles to transfer funds this way.

A competitive advantage will occur in those companies allowing them to offer better goods and services at a cheaper price thus the consumer will bring pressure to bare to retain those goods and services.

BTC allows this to happen on an unprecedented scale.

However this set up is more suited to PeerCoin for large amount transfers and lesser transactions.

I see countries and large money markets as well and companies using BTC/PPC tech to make trustless verifiable transfer of capital (ie market signals) and accrue massive gains as the parasitical but needful in the old system effect of Backs and States to back them being the ledger keeper.

In some ways much like holding all the gold in one location and swapping the labels on the bars to keep records, except we know how that worked out when you actually wanted the gold back.

BTC can perform both functions a large pool of swappable signal that you can verifiable prove and do not have to relinquish to participate in the potential for the swap. Eg merely holding and BTC makes you part of the game.

wow that's awesome news for bitcoin.....hard to think of a better accolade.

bitcoin is just about the hardest thing to turn of / stop almost ever

you end up with coins on both chain essentially so not a big issue inmho

thin chain is what peercoin does.

I don't see much issue here

Satoshi released with 33MB, he said it could be increased later, and Gav seems on the ball.

HD space is still going down in cost.

graft, cunning and dishonesty brings rewards these days. Hard work brings student debt and job insecurity at best.

If you work hard an well in  your job, your boss is likely to fire you anyway as you are likely a threat.

If you go self employed and don't cut corners in business you get priced out and shoddy jobs are done, passed off as good work.

The luminaries do what? Google = advertiser/info collector on you, yeah that really helps. Facebook = talk crap 80% of the time and advertiser. Microsoft, pump out bad OS year in year out. Actual real OS / software thats free = Linux and its retail market share is small.