its only a matter of time before coins will have to be sold in fractions as well because buying
a whole coin when the price reaches $10,000 will be too expenisve for the average user
Why would you HAVE to buy a whole BTC? That isn't a limit or restriction. You can always buy a $1 worth of bitcoin for a $1, even when BTC reaches $100,000,000.00 per BTC, that would be 0.00000001 BTC. (I believe I did that math right... $1.00/USD * 0.00000001BTC/USD = $100,000,000.00/BTC) By that time, a dollar will only be worth a penny, and the "Dollar Menu" at McDonalds will be the "Hundred-Dollar Menu". That, or the "0.00000100BTC Menu"... If you want to feel more rich, you buy LTC or one of the hundred other alt-coins instead. That, or keep using FIAT. But 1 BTC will fit in your pocket easier. maybe not "have" to buy in fractions but i think if the price ever goes up to $10k -100k per coin then the average user wiill not be buying full btcs due to the price a mbits system would be more appealing for new adopters too than a tiny fraction of a whole coin imo its just psychological  |
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it needs to change to mbits of something smaller because its a bit of a mess
and new users will struggle to equate value of a payment like 0.0035 to buy a coffee that costs $2.50 in fiat
What fraction of an ounce of gold does the coffee cost? Bitcoin isn't really for day to day transactions. It's a store of value and hopefully a means of global trade. Using mBTC and uBTC with off chain transactions might allow consumer use and even micro payments but those aren't where the really big valuations will come from. i think btc has the flexibility to be used for big and small payments ,unlike a gold bar btc is easily divisible , as soon as more merchants start accepting it scanning a qr code from your mobile wallet to pay 0.0035125BTC will be as simple as using regular cash to buy a coffee of course its a great store of value as well and "be your own bank" is cool but i like paying for things in btc whenever i get the chance to spend some ,more spending and less hoarding will help distribute the btc network more widely too so its a win /win situation as soon as more merchants get on board ,hopefully someone massive like amazon etc |
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Spending any non-trivial amount of money on any altcoin except Litecoin is absolutely certifiably insane.
agreed ! far too many idiot coins out there now |
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it needs to change to mbits of something smaller because its a bit of a mess
and new users will struggle to equate value of a payment like 0.0035 to buy a coffee that costs $2.50 in fiat
a whole bitcoin will soon be out of reach for many people and the decimal point placement
is a bit tricky if we dont start using mbits or ubits etc
The problem of decimals is fixed pretty well via punctuation that for some reason isn't standard (IE: 0.013,275,0 BTC is easier to make sense of than 0.0132750 BTC at a glance). On the other hand, I feel that we should switch to mBTC simply because many people don't initially understand the concept of divisibility. While it can be argued any new user should understand how the currency works, nobody in the general public really gives that much of a hoot and you know it  a $5 sandwich costs 0.00703125 BTC at current gox rates (not including the tx fee ) its going to get worse as coins get more valuable and we have to go further back past the decimal point to pay for small items its only a matter of time before coins will have to be sold in fractions as well because buying a whole coin when the price reaches $10,000 will be too expenisve for the average user |
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google "Capital control in china "
they dont want to give away control of the economy by having alternative options
like btc for people to buy /sell /move /store their wealth/ avoid taxes or anything else
that they dont have full control over
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it needs to change to mbits of something smaller because its a bit of a mess
and new users will struggle to equate value of a payment like 0.0035 to buy a coffee that costs $2.50 in fiat
a whole bitcoin will soon be out of reach for many people and the decimal point placement
is a bit tricky if we dont start using mbits or ubits etc
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They're such a nefarious bunch of thugs that they will mount a 51% attack and corner the market on bitcoins in no time. We'd better hope and pray that they never catch on to us.
how exactly would they get the computational power to 51% attack bitcoin ? the chances of north korea overpowering the worldwide btc network would be somewhere between slim and none imo |
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Chaang Noi (Goat) today people are not realizing what they can buy with bitcoins but tomorrow when they would realize then it will cost them a lot to exchange highly valuable bitcoins for their local currencies. I wish I might have realized the future of bitcoins few years back and today I might have also brought the Lamborghini
correct average people have no idea yet how much possibilities the bitcoin network has in store stefan molyneux is one of the people who "gets it" new users would do well to watch some of his youtube videos,he is one of few who truely understands btc and its potential : http://www.youtube.com/watch?v=Cs6F91dFYCs |
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if your in a hurry to make a transaction download multibit and use that
it downloaded for me in a few seconds
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"Warning: Displayed transactions may not be correct! You may need to upgrade, or other nodes may need to upgrade"
Im stuck 2 weeks behind and the blocks aren't updating. I have 8 active connections but nothing happens. I refuse to delete the blockchain and download the entire thnig again (it took me 2 days and this was 2 months ago). I also refuse to use anything that isnt the original client for safety purposes.
What can I do?
downliad the torrent bootstrap its way faster ,it will max out your connection speed for most of the blockchain and you should have it in 3 hours on fast broadband |
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i would ask them to fill in their btc address or the say last 10 digits of it when they are signing up for your service a btc address or even a partial one is not invading their privacy or putting them at any risk thats a simple solution to know who paid and who didnt pay when the payments arrive at your wallet |
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the current blockchain is nearly 20GB
it takes ages to get it all because the cpu checks the blocks so
its not just the same as downloading 20gb of movies from a fast
server or torrent
i have 20MB/sec dedicated line and it still takes me 1-2 days to get it
and as someone already mentioned ,the closer you get to 100% the longer
the blocks take
i use multibit for my transactions and its lightening fast but i think the original
client wallet might be safer ?
anyways ,i think its good if everyone who can does keep a copy of the full blockchain
to help keep the network secure and provide another node but for beginners making
transactions multibit is fine imo
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The whole blockchain is now very long... it will require little bit more computational resources than just 51%. Who knows... every now and then new supercomputers are being created with massive computational power. Will create interesting scenarios in the future.  but the current network is only being strengthed ,not weakened as btc becomes more famous its already bigger than anything anyone could attack it with and its growing with every new bitcoiner who joins and gpus and asics are sold out everywhere nobody is going to invent a supercomputer anytime soon that can outperform the btc network |
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i hate paypal with a vengance ,ive had my money held hostage and had to go through hours of phone calls and eventually i called my bank and credit card who were only too happy to reverse the charges and give back the money paypal stole and they said they would block paypal from my accounts I was happy with that solution and me and paypal will not be friends again unless i have to deal with some merchant who only accepts paypal but first i will ask him if equivalent amount in btc would be ok  |
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Are there not too many alt currencies out there already?
There are some really good ones!
Look in to them before releasing another one!
but they are all being heavily mined by the community if he makes his own coin he gets a headstart on the mining lol |
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paypal is just awful, they were always investigating my purchase even though I never did anything shady, just normal purchases. It got so bad I finally closed my paypal account and now they won't even allow me to use their processing service with the card that I used to have on my account. What I mean is if someone is using paypal to process credit cards on their website for example, it won't work for me with my credit card. Paypal sees that it is my card and won't allow me to use it.
cut it in half and ask the bank for a new one ,it will be free and will have a new number never used before |
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why would u do that  so he can be an "early adopter "  Is that what they call pre-miners these days? if you want to get in early thesedays youve got to make your own coin lol the mining has gotten to competitive for him |
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why would u do that so he can be an "early adopter " |
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