LOL but no.
Fractional reserve, money creation, credits etc. are actually needed to move forward. You could argue that there is no need to move forward THAT much - and it may be true, but in capitalism/ democracy there is no one to control that.
I actually read a discussion stating that if bitcoin gets more popular they may appear bitcoins banks operating with fractional reserve etc (there is another question who would accept that "money").
Of course everything should be used in moderation.
PS In 1930 gold was pretty popular...
fractional reserve isn't inherently bad, as long as every one can do it, not just the state. |
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The next google, or google itself will have to be search chain native to allow all sorts querys.
If google doesn't, it will be overtaken.
information will all be in, around and about block chains particularly high value information.
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there is a good chance an alt will replace BTC.
Personally I think PPC,DOGE,LTC, XRP, EMUNIE, NEM and maybe NXT and XPM
are all long term hodl material.
PeerCoin in particular has had no competion in the backbone store of value arena from any alt.....it really stands out.
Download the peercoin blockchain you will see what I mean....really quick.
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The sum of all bitcoin would reach 21 Trillion USD
Google 21 Trillion, that's about how much USD is supposedly hidden away for tax evasion.
I know isnt this great......we are in the process of vacuuming up all this wealth, as they are forced into BTC as we devalue their FIAT holdings or other assets Can you imagine what going to go to happen to some of the laggards to btc, they will be used to be wealthy |
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My routine has been pretty simple. 30$ Of btc per week on coinbase where I am also storing it. How safe am I? What else do I need to do protect my btc. I know I'm not getting a massive amount, but ya never know.
spread the risk. Local wallets, maybe some on an online wallet, but they can both be hacked. If you don't install any programs except BTC on a clean install you should be ok on local computer, and run an older OS, open source eg ubuntu. online wallets can always substitue your send to address, ala strong coin...be careful |
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Take the opportunity in you favorite financial institution, ask them if you can buy bitcoin there.
see the bank staff go scurrying....they know "buying" something means they will get money = good....they want to know what is it you are wanting to buy for the lovely fiat money that they want from you.
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being wealth and having good investments is main stream, to be wealth you don't have to b mainstream with BTC, just hit the right market, eg backbone currency.....
retail/mainstream is worth peanuts
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1 BTC = $1,000,000 means 100 satoshi = $1.00. All Bitcoin submultiples could be finally put to use.
that would be quite cool, easy to work with, makes you wonder is satoshi didn't pick it for this reason.....! |
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What were they thinking? These people have a reputation, no one is going to take them for real making these claims. What's going to happen when nothing happens? https://www.youtube.com/watch?v=w3X03KyUYuohttps://www.youtube.com/watch?v=Pz_j2su9Ehchttps://www.youtube.com/watch?v=vdPWnYnpEOwThink about it. The marketcap for BTC to reach 1mm/BTC would mean massive mainstream adoption. Also, it would mean tons of random NEETs that happen to store a couple BTC suddendly join the 1% clique. And, let's say hypothetically that 1 BTC reaches these ridiculous prices. What will be the purchasing power of 1 BTC? Wouldn't basically mean that the USD dollar devalued itself 1mmth times? Even if it went to 1mm/BTC, so what? you could only buy a cheese burge with it. I just find the whole thing ridiculous. I hope im wrong and we all become rich, but the story about holding 1 BTC and waiting to be a millonaire sounds so ridiculous to me. And they could play the "the end of the world is near" card, and keep people waiting forever. the big money is not in retail "massive adoption" its in backbone, store of value, asset class. so no, It would not require massive adoption remember the biggest listed companies are a drop in the bucket vs the money out there eg apple/exxon whatever is 1/20 th of the largest private company, and that's the one we know of. |
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anti BTC = Banker/Regulator/Govt 'But they [US] wont let it happen" BTC'r ' answer The USD has gone down near 1 million times since against btc in the last 5 years, what are 'they' going to do when the USD goes down another million in the next 5 years....and again after that.....' [i know this is unlikely in the next 5 years to do another million, but it puts on the table even if wrong, by a few orders of magnitue, 'they' are still powerless] |
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I Love BTC, but any honest look has to reveal that the transactions take WAY to long.
Did Satoshi ever comment on why he used ~10 minutes per block and/or did he consider a much lower number?
If he did, I haven't seen it before.
Edit:
<off topic>
Almost everything related to BTC transaction times, but discuss it if you wish.
</off topic>
<On Topic>
I wanted to learn what Satoshi said about it, and someone did answer, thanks
Also interested in more related Satosho quotes if you have any.
you must have read this by now....or was your account hacked its to do with latency , and speed of transmission across globe. |
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khan academy has a pretty good bitcoin presentation
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Did you really expect it to rise forever? At 10k per BTC you would already have exceeded the protocol limitations with the 1MB block size. Transactional demand would need to be immense to support a market cap of 210 billion USD. It's amazing what people are expecting out of something that is still in beta. Also alternative blockchain's would take more and more market share away from bitcoin, we've seen this occur with every price spike. Spring 2013 brought upon litecoin, October-December brought upon a horde of altcoins. Bitcoin has already had close to 10% of its market cap drained via altcoins. This is about $60 on current prices. Bitcoin's price is overvalued based on cost per transaction when counting miner subsidies. https://blockchain.info/charts/cost-per-transactionThis is way too high $40 + Miner's will consistently feed bitcoin's to the market from these obscene profits. The system is paying $40 per transaction at the moment to miner's and for what exactly? Demand as gauged via daily transactions has not grown as fast. We will probably continue trending down ever so slowly.. the blockchain data is way out not based on asics, and given the transaction rate, how will it exxceed protocol imitations, its not even going close |
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There is no time for two growth spurts within the next 9 months. Therefore, it will only get one shot at $10,000 this year.
I place my hopes in your hodling.
why not it had two growth spurts in 2013 |
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So, I'm kinda new to BitCoin so forgive me if I'm missing something  I've been reading the Forums & Wiki, and managed to get myself a nice TrueCrypt setup working on my Mac (app & data in the Crypt, with a shell script to launch it all). However, I thought I could get away with a tiny little volume, but it seems I'm wrong. the BlockChain is BIG. What's a good size for a Container volume? And will these BlockChains just continue to grow indefinitely as Coins flow around the network? look at electrum aslo HD space grows faster than btc chain. read the white paper and they mythical merkle tree |
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I think there is going to be some serious resistance when we finally hit the 1k mark again. I think there are a lot of people holding out and waiting for it to hit 1k so that they can sell at a profit, or break even if they bought near the height of the market. Psychologically $1,000 seems much higher than a price in the $900s even though it isn't much of a difference...
I would agree with you, expect everyone thought the same thing in November. There were some people that sold after we reached the first ATH at $266, then some people sold all of their coins when the price doubled the ATH at $500. Then it reached over $1000. There might be some selling at $1000 but don't underestimate people ability to panic buy!  $266 seemed so high at the time...such a bargain now....remember all the bagholders a 250+, there were threads how does it feel to buy at $250x? |
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Putin is in a fight for his ego. His propaganda reveals his self-image. To maintain his identity, he must not back down, must out-game all opponents, and make continual gains. This is perfectly aligned with his domestic political requirements. Expanding empire is good for the oligarchs he represents and manages, and good for his popular support. His most obvious weakness: Dependence on internal backers, whose interests may change skew to his own. We have a mafioso in power in Russia. He's more like Don Corleone than Hitler, but there are similarities to both.
Russian invasion of Ukraine at SOME level will not be tolerated by NATO. He has seized Abkhazia and South Ossetia. He has seized Transdneistra. He has seized Crimea. If he seizes Ukraine it seems clear he will seize the Baltic States. Hell, why not Finland? Why not assimilate Kazakhstan, Uzbekistan, Kyrgyzstan? We've been down this road before. Poland in WW2 had its borders guaranteed by UK. Ukraine today had its borders guaranteed by US UK and RU. If Russia stays in Ukraine, Ukraine will re-arm nuclear. NATO does not want that, at least not unless Ukraine is both stable and part of NATO. Putin would rather invade Ukraine entire than invade part and face a nuclear Ukraine in 2 years time.
To say there is nothing the west can do about it seems very questionable to me. Putin can be removed. Economic measures can be taken which would beggar Russia, causing him to be deposed. Military action can be taken to strengthen Ukraine. Political action can be taken, to incorporate Ukraine into NATO, or offer that as a chip to bargain against Crimea. In a political game, ground truth is critical. Putin is motivated to grab as much as he can before coming to the bargaining table. If he does that badly, there will be copious blood. The west has strong incentives to stop him before he gains more power, more momentum, and more bargaining chips. In fact, given his history, it seems clear to me at least that he must be punished. Some chips must be removed from his kitty, or he will just do it again on another front.
Where are you from and what sort of geopolitical disneyland are you living in? The US lead West, have been baiting China and Russia for years and will continue to do so. Lately they have been pushing things a little too far and Putin isn't standing for it. All these recent squabbles in Russia's backyard involve muscling in on markets and gaining a strategic foothold right on Russia's doorstep. Can you see why Putin or any other Russian leader (who hasn't sold out to the West) might have a problem with a great big belt of NATO missile bases going up right along their borders? NATO cannot afford to engage Russia in a out and out military conflict. Russia needs to be brought to heel or at least pushed into a strategic and economic stalemate position. The ultimate end goal is to be in a position to crush China, who will grow to be the US's number 1 competitor for world resources and power. A strong Russia stands in the way of a WW3 scenario. For this reason, the Russian bear needs to be driven into it's cage, and held there. oh and btw, just sit back and watch how Russia annex the Crimea and NATO does fuck all except blow their trumpet and wag their fingers. If the west pushes for sanctions against Russia, then Russia can also badly hurt the West, especially so the EU, and the EU won't like the US pushing for sanctions that will indirectly damage them. The US have pushed the boat out too far on this one, and will have to take a slap in the face with humility, as Russia does whatever it wants. This make no geo political sense. Russia and China are far from friends, it would be much better to be friendly with Russia to have China contained. Inmho, there is enough intercine issues in russia, china and likely US to keep them all looking over their shoulders. |
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- Governments are writing legislation about and holding publicized meetings about Bitcoin. Bitcoin is already starting to collide with and meet resistence from the establishment.
- If you go into a room at least a few people know about bitcoin.
- There are several news articles every day about bitcoin.
- My Facebook friends are now into Bitcoin.
- Bitcoin is often on the front page of Yahoo Business/Finance and other news pages, and often on NPR.
- Bitcoin exchanges are getting ready to launch in wall street.
- Tens/Hundred of thousands of businesses have already adopted Bitcoin, including major mainstream online retailers.
The "early" phase is over. This might not be the "final" phase but I don't think it's the early phase because there is such a large awareness and adoption already.
The reason the market cap is so small is because people have CHOSEN not to use it. We are not even guaranteed that bitcoin is "the future of money" so your logic of the relation of bitcoin's market cap to angry birds and to some potential market cap of quadrillions of dollars is based on a false premise. Maybe the realistic future of bitcoin is only to reach the market cap of Google or Facebook, in which case we've already realized 1/50 - 1/20 of it. Or maybe the fair market cap of Bitcoin is the market cap of Western Union, which it's already at.
awareness != adoption also do you see legislators getting themselves in a bundle over angry birds. Nope. BTC tech, can actually take away a massive amount of state power, and the fact they have make announcements on it says everything. I mean all of the large govt financials had to take drastic action to stop the bitcoin blackhole from sucking every last bit of value from the RMB. Alot of people have hears about BTC now sure, vaugley....but very very few own it. Even fewer are not Hodling. You are seeing the smallest tip of ice berg right now and the modern state is the titanic. |
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how does the ID give away actually work can you explain this???
I just dont see how it is feasable
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see that list of dev's
and the quality of the dev...= near bitcoins biggest asset.....
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