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Know one knows who / what Satoshi is. He could be a collective of people or an individual who is not even around anymore. He could be on these boards right now, simply under another name. I don't think were going to find the answer to this question for a very long time, if ever.
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Go buy a hotdog on the street shop and pay him with paypal
LOL, now yes i got your point. bt why do we still use cash for larger transactions? I personally don't know many people that use Cash for "large" purposes. Cash still has some advantages over BTC atm, for example it is much easier to transact in cash when you do not have access to an internet connection. |
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Set up a dollar cost averaging plan in regards to your purchases of BTC. You will feel much more comfortable spending BTC if you know you are going to be replenishing your reserves on a monthly or bi-weekly basis.
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This topic has been discussed a million times. Basically, the answer is that Bitcoin is cheaper and/or faster in some cases.
For example, if I want to buy gold online with a credit card or a wire transfer, it is fast but it is more expensive. If I buy with a check, it is cheap but it takes three weeks. If I buy with bitcoins, it is fast and cheap.
This is point many people forget. Bitcoin is the payment of choice for merchants who begin using it. |
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Transactions in legal tender do not necessarily require any internet connection. But unlike legal tender, Bitcoin is necessarily associated with the internet. So, even maximum possible transactions in the digital currency are bound to be less than legal tender, at least in foreseeable future. However, as a medium of exchange and fund transfer, Bitcoin enjoys some distinct advantages over fiat money. Here is an article on the future of bitcoin. Would like to have community feedback on it... Being able to easily transact without an internet connection is one of the advantages of cash over BTC at the moment, IMO. It is a huge advantage of BTC to be able to make large transaction with BTC without suitcases full of cash though... Agreed. |
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Governments can certainly hinder and slow its progress. But completely stop they cannot.
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Interesting to say the least.
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I don't see this happening anytime in the near future. The stock market is likely here to stay.
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Another explosion is on its way, when it is coming no one knows. We know that the adoption rate of bitcoin is growing and its value will fall in line with this.
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This is going to be interesting to see where Canada takes this law next. It's unfortunate that they are going this route.
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I believe most people would. Especially if the discount outweighed your belief of an immediate rise in BTC prices.
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"Shrink"? Good luck with that.
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Sorry, not sure I understand your statement / questions  |
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Likely those will have little effect and cost large sums of money. Word of mouth is the best form of advertising and is free. Spread the message and encourage business to adopt the use of bitcoin. Encourage them to hold some bitcoins, so that they just aren't immediately dumping it on the market for fiat.
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Thanks for sharing. I'm quite surprised they didn't attempt to dump them on the market to weaken confidence in the currency. Fortunately, it appears they are doing the right thing and attempting to get fair value for the taxpayers.
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Kind of an odd choice of words, but I believe he is referring to the block chain.
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It's very sad how so many are completely uninformed about Bitcoin. The mainstream media painted such an ugly picture of it for so long, and still they are not a fan of it. We just need to keep doing our part and explaining the huge benefits of it. Anyone who takes the time to learn about it, sees the huge potential.
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Bitcoin's and other altcoins limited supply is what stops them from becoming a true free currency for the people around the world. We are loosing the opportunity, in spite that the solution is very simple: One simply need to adjust how new coins are coming into being: block-reward = C * difficulty (meaning: money supply= hashing power) The constant C is halved every 1.5 years - because that means you will always have the same amount of new coins given the same amount of energy. (see Koomey's law) Even if the whole world started to use this coin, it would not give price explosions. Value would always be tied to energy in some more or less predictable way. Cruptocurrency technology has two core features; proof-of-work and money supply. Why have they not been connected? This mechanism connects them, and does not need any man-made ideas for the money supply. This reward mechanism is the natural one for crypto, and is the same as we live after every day: The more you work, the more money you get paid. This is not a new idea, and has been around for long time, in several posts, for example here: https://bitcointalk.org/index.php?topic=178140.0 and here https://bitcointalk.org/index.php?topic=64637.msg759250#msg759250The supply of bitcoin and altcoins is not an issue at all. They are incredibly divisible. Price is relative. |
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This answer has clearly been resolved. It had a huge effect and the ramifications of turning money into fiat is still being felt today. We will continue to feel the effects in the future. Fiat allows the government to create massive debt levels and sell the future of our children for immediate gratification. It is this unfettered power to create money that makes fiat so dangerous.
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Awesome, thanks for sharing.
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