Already a thread: https://bitcointalk.org/index.php?topic=343021.0Why are people so eager to donate their bitcoins to wikipedia? I'm sure they'll take them at some point in the future, but then people will probably ask why they're not accepting Litecoins or bbqcoins or whatever. |
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The problem Bitcoin is facing right now is that too many people have the opposite mindset of the OP - they treat it as an investment rather than a currency in its own right. For BTC to flourish, everyone needs to go out and spend it!
If I were an early investor with a lot of BTC to spare, I'd be ordering 0.002 BTC pizzas all day every day!
What if 0.002 BTC will buy you ten pizzas a day in a few years' time? Or instead of wasting money getting fat on pizzas save it or invest it in something else? I haven't spent any of my BTC yet and it's flourished nicely. What's great about any investment or currency is people can do what they want with it; buy, trade, sell, save, gamble etc. |
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I can see that you can now use Bitcoins to pay for various things, including food, property and even a ride on a Virgin Galactic spaceship, but why would I want to actually spend coins when the value has increased by 30,000% over the last 2 years? Perhaps I don't yet fully understand all the benefits, but holding on to coins (or working to increase the amount you own) seems far more sensible at the moment.
As with any currency or commodity, people are free to buy, sell, trade or save. Yeah, it's wise to hang on to them for a bit, but at some point you're going to need to cash out. |
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I think the name is one of the reasons people don't take us seriously. When I tell them about it, they're like hmm "funny name"... Surely there must be better alternatives.
Yeah I totally agree. It's a great name for the technology itself. But for the currency, the actual units you transfer from one another, it's misleading, it's arbitrary at 100million "satoshis", and yeah, it sounds silly. Personally I'd love to see it be called something people already know. Like credits from every sci-fi movie ever. It would make it much easier to explain to new people. I dunno, just 'credits' would probably seem confusing ("Hey, have you heard of Credits?"). I suppose Cryptocredit or Bitcredit would work, but pretty much every other cryptocurrency has a 'coin' suffix so it seems to be working ok so far. Everyone will be spending $atoshi's eventually so don't worry.
Probably this. |
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It`s better that BBQ Coin at least.
This. I think Bitcoin is a great name and don't see any problem with it. What do you suggest it be called? |
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Thanks for this site. I couldn't tell you how often I check it daily. Nice to have all the cryptos in one place and ranked.
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bitcoin are so much expensive now , and litecoin are so much cheaper people start accepting them as well
And this will have a knock on-effect. Once BTC price gets ridiculous - maybe it already has - people will just invest in the next biggest currency; Litecoin. Then when Litecoins get too pricey; on to the next and so on. Nope, by your logic, smarter would be start with new and still worthless alternative coin. Litecoin is already too much expensive + useless I think it would be wise to invest a little in some of the other up-and-coming cryptos. And Litecoin's aren't really expensive, nor are they useless. Like any currency or commodity they're only worth what people are willing to pay. They're currently hovering under the $10 mark, and anyone who invested a little in these a few months ago has made a tidy profit. Same thing will probably happen with others cryptos in the next few months. Who knows? It's exciting to see how the markets play out for cryptos. |
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Not quite the moon. Virgin Galactic are only sub-orbital flights. It'll be interesting to see how cheaper the flights become in the near future. I'd love to go to space and especially if paid with Bitcoins, but I wouldn't pay anything near $200,000 for 5 minutes of weightlessness. |
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Unless no one spends their coins, in which case in a year or two your BTC will be worth 0
Thats right. Those who has a lot of btc should put some of them into the market we need to build, even if it doesn't pay off right away Nope. If people buy up all the shares of a company or all the gold or whatever, it doesn't make them worthless; it makes them rarer and therefore worth more. Bitcoin, like anything, only gets its value from what people are prepared to pay for it. And people are still buying and selling Bitcoin. Sure, there's more and more hoarders everyday, but Bitcoins are constantly coming into circulation via mining and those miners need to eat and pay their electric bills. Scarcity only pushes the value of something up and there will always be people who decide to capitalise on this and sell their coins. BTC is a currency after all, you are free to buy, sell, trade or save. Completely up to you. |
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Fuck all yet. I'm taking the gamble and waiting to see what my BTC will get me in the near future.
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You want to take his advice as gospel? Why not invest in both Bitcoin and/or some of the other competing cryptos?
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It wouldn't surprise me if they used multiple alias's to first make him want/need these hits, then approach him as another user and offer to "take out" this person, that probably never existed. All in an effort to make sure he is locked up for life when they do catch him.
Isn't this kinda what they did? |
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I'm sure a fingerprint scanner would be pretty safe to stop somebody booting up your laptop, but couldn't somebody just take the harddrive out and then put it in a external caddy and then have access to your wallet?
I'd just go with storing it on a usb or paper wallet.
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Somone has to spend btc, otherwise how can the economy progress?
People clearly are spending it. Just some people are choosing to hold onto it and save it as an investment, just like cash or shares or any other investment. |
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Bitcoin was not premined. There were just not many people involved in the early mining that first year, so Satoshi's computer mined many due to a low degree of competition. It's also evident that the minimum difficulty level was a great deal higher than what his own machine could do, since it took a while for the block interval to stablize at anything near 10 minutes. In the beginning, blocks were hours apart. That might be what you are mistaking as periods of stopped mining. There were no periods of halted mining that I know of, although there was a bug that permitted a DDOS attack against the network that had to be fixed around 2010, and that DDOS delayed some blocks. More recently, there was a bug that could have forced a blockchain split; and there might have been a halt in mining over that, I'm not sure.
So in other words basically a premine, just ohh sorray nobody was around to mine so I mined the most coins. Release an ALT coin mine it for a year, and then make it publicly know, ohhh so sorry guys you weren't around to mine cause you didn't know about it. Somebodies gotta start mining. It's only fair game that the early adopters then reap the rewards. They're pioneers. |
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There's nothing wrong with spending Bitcoins. Completely up to that individual. I've personally chosen to save my BTC and don't care to risk spending £7 worth of Bitcoin in Subway when a few months later I'll've probably ended up essentially paying £50 or whatever for a sandwich. Maybe if you're already made money from investing early you can spend your Bitcoins on a Subway and feel like you're eating for free, but I'd rather wait and see what I can buy with that £7 worth of BTC in the near future.
People can believe in something without wanting to invest all their money in it; a good idea is to invest what you can afford to lose. BTC is also a hell of a lot higher in price than it was a few months ago so the risk of return is even higher.
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Hasn't failed me yet. I bought into bitcoin to use it as a currency, but before I got the chance to spend it it quickly doubled in worth. Now it's worth seven times as much and climbing. I would’ve been pretty annoyed now had I spent it all. When/if the currency seems to stabilise at a point in the future, then I'll probably spend it, but for now I think I'll save it as an Investment and see what highs or lows bitcoin can ride. Plenty of people are still buying and selling with it at the moment, but personally I think it'd be unwise to spend it now, but people can do what they want with it; money doesn't have to be spent as soon as you get it. I'm excited to see what happens.
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Jesus. It continually blows my mind how people can be so smart and yet so fucking stupid. |
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Where can I go to track IFC value? I bought a fair amount of it on the cheap and want to be able to track its value.
http://coinmarketcap.com/Thanks I appreciate it  I am an Infinitecoin multi-millionaire LOL. Seriously, I bought something like 13 million of 'em for peanut dust. If they even go up to 5 cents apiece in value, I'll have a nice little nest egg. (keeps fingers crossed) I'm sure you'll be waiting for infinity for them to become worth that, but who knows. Hope it pays off for you. |
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I'd love one of these. What's the cheapest/easiest way for me to get one in the UK via paypal?
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