All things considered UK is actually not that bad in comparison with other nations. There is an NHS. Delays at the emergency rooms are shocking, but at least there is 'free' health care. Politicians are not untouchable, some do go to jail when they break the law. Alcohol consumption rules here are not as strict as say in the US. (Can drink from 16, can buy from 18) Most cops here don't carry guns. Most people are pretty honest here too  . Property ownership: you do actually get perpetual land ownership here with freehold properties, something that is not possible in places like China. I am not saying the government always follow its own laws... but it does it more often and more consistently than other countries. E.g. They are actually going to release convicted terrorists after they have served their prison sentences, whether they have changed their views or not. The UK values techies like myself, the wages aren't bad for writing software. Interbank transfers are free. The taxes are kind of heavy on the income side though ($%#!"&^? 40%!), I agree. It would have been better to have land value tax and less income tax IMO. Those who can afford to own a property are more able to pay than those who have only income. Oh and the 20% VAT should be scraped, so should CGT, calculating CGT gives everyone headache. LVT alone will probably be enough. |
|
|
|
|
This thread belongs to the alternative currencies section.
|
|
|
|
|
Forks of the block chain win by length. Bitcoin is democratic. By mining on top on a given fork, you are "voting" on the fork you agree with.
Usually there is only one block chain that everyone agrees to. Sometimes there are conflicts, e.g. if 2 miners in different parts of the world submitting a block at the same time.
From one end of the world, the block chain looks like:
Last block -> Miner A's block -> ?
From the other end of the world, the block chain looks like:
Last block -> Miner B's block -> ?
All over the world, miners will see these two blocks in different orders, and will decide to mine on top of one chain or the other depending on the order the blocks arrived at them.
Obviously Miner A will mine on Last block -> Miner A's block -> ? and Miner B will mine on Last block -> Miner B's block -> ?
Eventually one fork gets longer more quickly and wins, the other fork gets orphaned.
Sometimes you hear people mentioning 51% attacks. This is when a miner, say Miner A, has enough hashing power to ignore seeing
Last block -> Miner B's block -> ?
and produce
Last block -> Miner A's block -> Miner A's block -> ?
fast enough to WIN.
|
|
|
|
|
I noticed Metal Bondage and Chastity Babes started accepting bitcoin.
"Recurring with CoinBase", this is how they solve the recurring payment problem.
|
|
|
|
|
If you look at it from the optimization point of view, one should optimize the common case.
Even at today's value, most daily transactions will have a "0." or "0.0" in front of them.
Larger transactions are less frequent, and the senders and receivers can afford to and should spend time checking over all the digits of the amount.
Anything less than 0.0001 is currently inconsequential (e.g. bitpay price quotes always seem to round to 0.0001)
All these zeros incur cost, and it adds up over time.
Shaking the 0., 0.0 and 0.00 off daily item value transactions would allow most users to consider only the digits that matter in the amounts.
This is why re-denomination is important.
I think mBTC is perfect at this point, but it will very soon be too big again.
|
|
|
|
|
Continue working, for fun.
|
|
|
|
We had a similar conversation in a start-up a few years back. "What will you do with your shares when we go public?" We still haven't been bought or IPOed..... |
|
|
|
2014 BTC will reach 5 figures!
2014 BTC already reached 6 7 figures, silly. In 2014, BTC1 will reach 5 figures. |
|
|
|
|
It makes sense. 2014 could be honey badger time for bitcoin from authorities deciding how to regulate it.
On the other hand, there are new services and new businesses coming in 2014, so may be we should hold onto our hats just in case.
|
|
|
|
|
Nah... it is because 2014
Happy New Year !
|
|
|
|
I am also SPENDLING. When I spendl, I am keeping crypto within the crypto economy. An in exchanging it for an actual good or service, I am distributing the crypto more widely and into more hands. This further increases its value, as more people can then hodl and spendl. yay! But the key thing is that I immediately (or in advance) buy back at least as much crypto with fiat as I just spentl. So in effect, with my purchases I am converting nasty fiat into widely distributed crypto. yay again.
That's what I do. Merchants need to know I am buying from them in bitcoins. The net value effect is null, except for the marketing effect and the increase in bitcoin liquidity. By doing this all the time, we have made ourselves ready for the day when we are also paid in bitcoins, and then the circle would be complete. |
|
|
|
as we know, bitcoin is growing at the moment, albeit slowly.
but nothing lasts forever, so just like myspace and facebook, one day people will abandon bitcoin to go to another system e.g. fiat money.
what will you do then?
For there to be another big currency that people would jump to that currency would have to have the same capital level bitcoin does, currently no other crypto currency has 11 million coins in circulation.  Well, Feathercoin has 28 million, some stupid canine coin certainly has more than 11 million. |
|
|
|
|
I was going to say who wouldn't flatten their new machine the first thing it arrived, but I realise... most don't.
|
|
|
|
go to Litecoin  Yeahhhh!  |
|
|
|
It would be more probable to speculate that oil will drop to $10 a barrel next year. At least there is the potential new arctic oil incoming.
lol.... The cost of Arctic drilling is expected to be well over $100 a barrel. There you go, that's how probable it is. |
|
|
|
|
Show Posts
