With that formula Bitcoin should be a useful currency in about 5000 years.
A currency with a slow gradual rise is not useful? What is your definition of a useful currency? A currency that is useful to me is where people near me accept it for goods and services. And a linear formula would prevent this? No. Your linear formula would prevent it if it were actually the case. Imagine if cell phone production rate had stymied to your rate of production. We would still require a car to move them around and global society would not have facebook in their pocket. If bitcoin does not show growth as a store of value, nobody will value it to store their value. |
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With that formula Bitcoin should be a useful currency in about 5000 years.
A currency with a slow gradual rise is not useful? What is your definition of a useful currency? A currency that is useful to me is where people near me accept it for goods and services. |
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Because Bitcoin is dying, people are throwing more money into mining. according to KNC, the mining cost of bitcoin is significantly below $400, i think it's around $170 per coin and they are trying hard to mine more and dump more KNC 3T miner at 1710 Watts: $5995 (of cause the cost of manufacture is under $3000) mine 1 bitcoin: 3.412 week, Power Cost: $98 let's say you mine 50 bitcoins and stop mining, cost per coin: $158I'm surprised a high capacity fab isn't manufacturing better ASICs yet. |
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Because Bitcoin is dying, people are throwing more money into mining. Huh  i kept rereading this but it still makes no sense. Sarcasm? It would be sarcasm if it wasn't true. Logic has nothing to do with it. |
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Because Bitcoin is dying, people are throwing more money into mining. |
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With that formula Bitcoin should be a useful currency in about 5000 years.
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Not necessarily bad...just a misconception that fools will not believe into...research is key.
Yeah.. But bad publicity or not, its still publicity. Still a + for bitcoin. I would disagree with your mindset. If something is being used for illicit purposes then it will not only cause people to want to disassociate with it, but it will also attract regulatory attention. I would not however say that asking for a randsome in bitcoin to be negative for bitcoin. I would say the reason they are asking for this is to avoid direct contact with law enforcement when they go to collect the randsom (instead of having to physically pick up cash). They need to trace the source of these threats and take them seriously. It doesn't matter if they are asking for money or a prisoner release, you cannot negotiate with terrorists. |
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Mt Gox built all those mining rigs and drove up the hashrate. That's my theory.  |
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More bad rep for bitcoin again these is definitely going to strike somewhere in the charts.  Sure, since they know that governments will be forced to buy bitcoins, it will drive up the price. So more people will get in on it and drive the price higher, right? Or maybe it's all just nonsense that nobody takes seriously and has no effect on the charts. |
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The ratio of bulls is still much higher. They're just quiet now because the price is dropping and many of them made retarded predictions that are turning out to be way off.
It's funny you should put it like that. Yes, our predictions were quite literally retarded, ie, "slowed or delayed". Bitcoin is still going to the moon, it's just taking longer than we first thought. I got to hand it to you, your comeback was as sly as a fox. Nicely played  It's simple physics.  |
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Will there only ever be 21 million checks?
Will there be only one cryptocoin? Will there ever be only one internet? Yes there is more than one cryptocoin. I started one today with the exact same code as bitcoin but with one difference, it's called bitcoin2. It has a network difficulty of 1 and is completely useless. OK, let's put it another way: why are you certain that Litecoin will die, and Bitcoin will not? Or Dogecoin, or any other cryptocoin, existing or to be created? Or, said another way: why is Litecoin unsuitable for e-payments, concretely? Do altcoins need to die? Maybe they will find their niche. Maybe Bitcoin will become so big it becomes politically charged and an altcoin becomes it's rival? |
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 One Million Bitcoins muhuhuhaha! |
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Yeah, I heard some dollar terrorists are quite nasty too. Damn those currency terrorists!
Someone should write a series of novels about that. Maybe call the secret agent 008 or something like that. Mike Meyers can play him. |
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Will there only ever be 21 million checks?
Will there be only one cryptocoin? Will there ever be only one internet? This is really an interesting question. What is stopping the creation of Internet 2, Internet 3, and so on? And yes, this question is really answering to the previous question, similar to the other thread on "Answering the question with another question". Actually Bitpay may be creating Internet 2.0 |
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Will feel great when investment bankers start pumping.
unless banker think like warren buffet and regard ripple as a blank cheque. (u dont pump on blank cheque right ?) First, I admit to understanding very little of what you said. Second, why not? Buffett: “It’s a mirage basically, it’s a method of transmitting money, it’s a very effective way of transmitting money and you can do it anonymously and all that… a check is a way of transmitting money, too. Are checks worth a whole lot of money?” The more I hear Buffett talk about Bitcoin the more certain I am that Bitcoin will succeed. What happens when rich people start to actually understand Bitcoin, it obviously hasn't happened yet.... holy shit OTOH he is probably buy bitcoins on the down low, like he did with IBM stock. |
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EDIT: This should have been posted in the gold collapsing thread...
you mean the "sidechain" thread OMG, we're not going to start side chaining threads now? My head will explode. |
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Coming soon "AltCoin Terrorists make Nucular Threat." |
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Will there only ever be 21 million checks?
Will there be only one cryptocoin? Will there ever be only one internet? |
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When is the next round of US Marshal's office bitcoin dumping?
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