I personally think if Iran made Iran Coin or something like that it would gain a lot of support from all their friends and sympathisers. Bitcoin needs al ittle bit of regulation so it doesn't go completely haywire until,a a total transition is made from fiat into a digital currency System. Both Govts, and lay people need time to adjust and proper infrastructure put in place for the free world wide use of BTC.
Irans friends and sympathizers? Who? Hezbollah? I think they're the only ones. Probably North Korea also. I don't think that North Korea cares very much about Iran. I do think it will be interesting to see how the situation in Iraq will play out. It should be noted that Iran helped Iraq (and the US) by sending fighters into Iraq to fight off the militia that is trying to overtake the Iraq government. The only real issue that the US has with Iran is it's nuclear weapons program. If we can get past our differences about the nuclear program by Iran helping out in Iraq then Iran could potentially become a very useful ally to the US. This is speculation, but if it were to happen it could potentially provide some stability to the middle east. If it does not happen then eventually another war will break out in the area between the US and Iran. Hope there won't be any war, Iraq vs US was bad enough. This is why a Iran/US partnership would be such a good thing. IMO it would be a long shot at best. |
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If a TX is not confirmed by the network after 24 hours the nodes will "forget" the TX and the BTC will remain in the address that you tried to send it from.
That's not entirely true. I've had unconfirmed transactions (specifically, those sent without fee), that have been unconfirmed for 2-3 days, but eventually were confirmed. So I'm not sure what the hard-and-fast rules are here. This may have been an exception to the rule. My understanding of the Bitcoin protocol is that nodes should delete unconfirmed TX after 24 hours. I looked on google to double check and couldn't find anything concrete. One thing you could do to take care of this issue would be to send a TX that uses at least one of the same inputs as the unconfirmed TX with a bigger fee and this should be confirmed by the network. |
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I cannot believe how many posts on here some how mentions girls using bitcoin to buy cloths.
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He (or they) is definitely still around. I'm sure they are closely following the evolution and adaption of their creation, and likely still contributing ideas/suggestions/solutions to bitcoin, in one way or another.
The open source nature of Bitcoin would make this very well possible. |
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Just means that the propaganda media has done it's job making BTC look like some evil online drug money. It's an uphill battle to legitimize it, but in time we'll win. I did find the part about religious people wanting to ban transactions with it interesting. Brainwashed people tend to believe anything shoved down their throats  This is not so much propaganda as a lot of bitcoin activity does have to do with nefarious activity. What needs to happen is more business start to accept bitcoin to associate bitcoin with legitimate commerce. More propagandas are coming with the beginning of Bitpay sponsoring St. Petersburg Bowl, which is first campaign through TV. More people will be aware with the new technology existence of BTC and dig more infomations about it then find what BTC really is. More companies bring convenient service related BTC to the people, such as Bitpay. More merchants will accept BTC payment, such as overstock, Expedia, DISH network. This is less propaganda and more advertising. You are however correct to say that companies like bitpay will over time cause bitcoin to become more respected |
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For those who think the terrorist would easily obtain private keys by use of force, realize this..for a bank to store its major fund in cryptocurrency would have ensured no one in the bank, not even the manager has any access to private keys or it could be stored in multi signature wallets where another party from europe or elsewhere also have to agree in order to open the wallet.
What if the terrorist hostage the bank employers or any western foreigners and wants the bitcoin keys or else they kill 1 every hour. When physical harm is threatened it is generally understood that the demands would be met. Assets can be replaced/traced but lives cannot be replaced. |
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Microtransactions would be a better solution then trying to store music in the blockchain. Having that much data in the blockchain would be extremely expensive to store and have a TX confirmed.
Buying a single song with a credit card for $0.99 would likely cost the merchant close to $0.30 as most credit card processors charge $0.27 plus 3%, the same transaction on the blockchain would cost close to $.06 if anything at all.
that is way lot cheaper It is a lot cheaper and the result will be that artists will get to keep substantially more of their revenue, it would be like them getting a 30% raise. |
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Market psychology will value the coins at the price that the auction goes for. Once such a large amount of BTC is bought at just over market. Who would sell their BTC for less?
There is no real reason for any bidder to bid BTC above the market value of bitcoin. There are simply not enough bidders/potential buyers to cause a need to bid above the market price. One look at the list of bidders, and you know they want the coins... are they going to place a bid 5% under market? 10%? and risk not getting them? Or bid 1$ over market and ensure they get them. They try to buy that amount on the exchanges and it'll move the market. plus they won't get the free advertising.. being interviewed as the winner of the coins, and publishing the market price. There is no guarantee that they would win the auction at any price. The sad fact is that the additional supply being brought into the market will likely not be able to be absorbed by a normal amount of demand. Most investors in bitcoin do not need to attract attention |
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I think a good few of us can prove you can get into BTC early and still not be a $millionaire. Hell, I bought BTC on a $5,400 limit credit card when it was still ~$2.40. Still have that card maxed out from that, too. Blech. Shouldn't you have 2000 Btc Some people think "hoarding" is a problem in the bitcoin economy. In reality, because of the easiness of spending or giving bitcoin, for a lot of people (myself included) it's actually very hard to hold, there's always the temptation of "doing something" with the coins. The issue with hoarding bitcoin is that it is generally believed that the price of bitcoin will rise in the future. As a result people have no incentive to spend their bitcoin until absolutely necessary. |
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I would love to be able to spend my bitcoins on facebook ads. Promotion is always needed for growth of my business.
The potential for bitcoin is not spending ad dollars in bitcoin to facebook but rather allowing users of facebook to give money to their friends (maybe for paying them back for dinner or a short term loan between friends) |
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Most exchanges will only send funds to a bank account that is titled in the same name as the account holder.
Bank accounts at exchanges are held in the name of the exchange.
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Opening a new business is more or less compete with the current one.
Competition drives down profit. So be careful who you go after.
I don't understand your point. I don't want to open a business, I am talking about a way to make a create a business whose financial existence would exist on the bitcoin network. (Votes, Shares, and profit alike) Do you mean that such system would create high business creation, and drive competition up, so would crush profit to the current one ? This seems more like feature than a bug for me. It is impossible to do due diligence with this kind of company. One part of corporate america is that people are held responsible when mistakes are made. Is management is anonymous then it will be impossible to see that people are held accountable. |
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I'm not sure if market cap is the only relevant factor for price stability. I think equally or even more important is the main use of bitcoin.
I'd argue that the more bitcoin is used for transactions the less volatile it will be. If bitcoin is primarily seen as a commodity it will have higher volatility than if it's primarily used as a transactional currency. With market capitalization in the trillions and primarily commodity properties it will have gold-like volatility which is still substantial but would not impede usability either.
This is 100% correct. It is not so much market cap that affects stability but total transaction volume, both measured by goods/services to bitcoin and by exchange volume. |
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A robot bartender will cost lot more than a human one. Makes no economic sense
It depends. Robots you pay for once. Humans you pay for continuously. Once you buy the robot then it doesn't get tired, it doesn't ask for a salary or sleep. If you use a robot for one year it will likely be more expensive then one years salary for a bartender. You will still need to pay for things like repairs and electricity for the robot. If you are paying the bartender only $2.13 per hour then these expenses would potentially exceed what you would pay the bartender. A robot will also not be able to effectively upsell and encourage additional sales the same ways that a human can. |
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You can never really "beat" inflation without taking on some level of risk.
You can match inflation plus earn a (very) little bit of return with Treasury Inflation Protection Securities. You would be taxed on the inflation portion of the gains every year if you do not hold them in a tax advantaged account.
If you can handle a little bit more risk then you can invest in a diversified portfolio of stocks, bonds, cash and alternate investments.
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There's no apparent need in cutting the portfolio. It will decrease naturally as bonds mature.
If there's a need in soaking up the excessive liquidity they have a range of other instruments, namely repos and manipulating rates on excess reserves.
The fed would need to reinvest the proceeds of matured bonds into new bonds or else liquidity would dry up. When US treasury bonds mature the treasury must issue more bonds to repay the bonds that are maturing. If the Fed does not buy some of those bonds then the effect would be the same as if it had sold the bonds in the open market. Are you saying that 80% of the Treasury bonds sold by the U.S. are bought by the Fed, and if the Fed doesn't buy them, nobody else will? That can't be true!  If the fed don't buy the bond, the interest rate will most likely go up the roof as no rational bank or institution will lend the government at near 0% rate. Nope. The interest rates will likely adjust, but not up the roof (what is considered the roof btw? ). Interest rates would adjust upwards as if the fed was in fact selling the bods that are maturing That's not certain. I remember the time QE2 ended... The yields tumbled despite being expected to rise. Yields tumbled because it was expected that QE3 would be announced in the near future. |
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I don't know about the other exchanges, but monthly revenue for BTC-E is somewhere in the range of BTC2,000. That means around $1.2 million per month and $15 million per year. Don't know the net income.
That is huge profit for an exchange. No wonder no major exchange want to offer equity. Right now I don't think that will be a good idea. 99% of the world population don't know about Bitcoin. The exchange rate and adoption will increase logarithmically in the coming few years. Once that happens, they can list the exchanges in NASDAQ or some other stock market. It does not matter if a currency is listed on a stockmarket. Once citizens of emerging markets start to use bitcoin then it can reach it's potential. |
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Is it going to affect btc-e if Russia ban it? Nope. But first of all, let me assure you that Russia is not going to ban Bitcoin. There are a lot of small Bitcoin-based businesses operating from Russia, and none of them are facing any harassment from the authorities. Now back to BTC-E. The owners (Alexei and Alexander) are Russian citizens, but the company was based in Kiev until 2013. They shifted the HQ to Bulgaria last year. So in short, BTC-E won't be affected by the happenings in Russia.  BTC-e operates with a high enough of anonymity so that even if russia were to ban bitcoin that it would not be affected. The Russian economy has already had enough hits against it so that Russia would be stupid to try to ban bitcoin |
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Market psychology will value the coins at the price that the auction goes for. Once such a large amount of BTC is bought at just over market. Who would sell their BTC for less?
There is no real reason for any bidder to bid BTC above the market value of bitcoin. There are simply not enough bidders/potential buyers to cause a need to bid above the market price. |
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Yes all of your wallets are stored as separate files.
Anytime you reset the blockchain with one wallet on multibit only that wallet will have the blockchain be reset.
Anytime a TX is sent/received only that specific wallet will be affected.
Anytime you change your password it will only apply to that specific wallet.
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