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Hmmm.. as far as I understand it, and I might be wrong, fee has never been a requirement in bitcoin, but a necessity in order to get your transaction included in due time. It’s a necessary evil, if you ask me. Of course once the block reward stops it is the only reason miners have for mining.
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Yes this is happening all around the world. Don’t you think it will take time? It is not that easy thing that a new correct just come up and being used all around the world within 10 years. It will definitely happen but it will take a long time. Electronica, restaurants and garment malls are accepting it in different areas. But when it will be covered all over the world, it takes time.
I think it’s never going to happen, with the way the technology is right now, bitcoin or any coin. Waiting for a block to be mined, to get your transaction confirmed…. fully unsuitable for retail and no competition – at all - for the ease and speed of credit card or cash. We need entirely different thinking if we want crypto currency to even get in the ring with credit card or cash, not to talk about going a few rounds. |
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That`s the idea. My friend lived in Sweden for a while and told me that story. Even today when you are paying with cash in Sweden they look at you strangely, like who,what,why is this man not using a card, where did he get the cash... The reason as they say is to exterminate grey economy and work on black market. Route of money flow must be known.
It will needed more time for other countries to implement same project but eventually it will be our reality.
It’s exactly how it is. While maybe not looking weird at you for using cash, it is becoming increase un-normal not to use credit card or Mobil pay. In fact you can hear the “suuuk” down the line, when some old lady picks out her cash to pay for her stuff, cause it just so slow. |
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What's the idea behind free tx accelerators?
Free TX accerelator was made to include a TX with an appropriate fee (not a low fee) manually to the next block of the X mining pool in order to give people the priority they need instead of spammers in the bitcoin network. These tx accerelator just needs a human verification (e.g. captcha). There is also ViaBTC - a mining provider - who is handing out free accerelation when they buy its cloud mining hashpower. Nice explanation. Thx. I was wondering about the very same question. Does it mean that the low fee transaction sort of leeches it self on another transaction with a higher fee? |
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Just remember not to use the function “empty wallet”. It will cost you a fortune. Instead empty your wallet (send to another wallet) smaller amounts at a time, and if you have time enough, push the fee way down. They will confirm in the end.
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I think thats a bit too early, there are still lots of countries who doesn't have internet connection, most of the third world countries are having a hard time connecting to their internet, because their connections are just too slow and unstable. Now I think in the 1st world countries, this idea may apply, but not to the whole world yet, the time will come, but I think its a bit too early by 2023.
I don’t 2023 is too early, one or another country has to begin. The society in the Nordic is already (and has been for 10 years) spiral in that direction. And just to be clear, the article is not talking about bitcoin (or any altcoin) but about a cash-less society of credit cards, wireless credit cards and Mobil pay. |
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Sweden is going to set the trend of the virtual money and this will be awesome and other countries will also adopt it if there is benefit in digital system in my thinking bitcoin system will be implemented soon because people wants to get rid of cash and they want a unique currency accepted all over the world, this will be revolutionary thing and will change the economic condition of countries also.
Bitcoins (or any altcoin) is not going to replace cash, because they are completely unsuited for it. You need instant transaction / confirmation and zero or close to zero fee. You can’t wait for a block to be mined before your transaction goes though!, even if it only takes a minute. New coins that want to take on cash needs a whole other ballgame of thinking. Block chain technology is completely unsuited to rival cash in transactions speed and ease. You already got a well working digital delivering system for cash, its called credit card or Mobil pay. That is what the article is talking about. What the article is talking about is already happening and has been for the last 10 years is all Nordic countries. Cash (as paper) will be gone by 95% within 10 years in all those countries for sure. Personally I have not used a cash coin in any transaction for 6 month, have not used a bill for 2 month in any transaction. Credit card, wireless credit card and Mobil pay is everywhere in these countries, and I do mean everywhere. It is nearly impossible to find a place where you cannot pay with one or more of these options. Scary as it might seem, at least in Denmark, ATM’s are rapid disappearing from the streets, they are not needed anymore. 8 out of 10 banks do not take cash anymore, nor can you get cash from banks. |
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I just cannot believe some people are so ignorance about this topic, global warming is the most obvious name scientists can give to the phenomenon, climate will change if temperature change, in Vietnam it's so obvious to see the effect of this phenomenon, the climate is not the same as it was in 10 years ago, and it's getting more and more extreme, think about it as a machine, if it's getting hot, all the parts are affected.
Believe it! What I can’t believe is looking out once windows and seen and feeling it’s hot, one automatically conclude global warming is going on and humans are the course! Hmmm… flashback to the Spanish inquisition comes to mind. Are climate changes real? Yes (have always been, will always be), is global warming going on? Probably, are humans the main factor? Maybe... The Little ice age, the Medieval warm period, and the Roman climatic optimum, none of them came from increase in CO2 levels, so why did they suddenly go on (and disappear)? |
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Yes it is. We can feel it everyday. The weather these days is too different from what we had before. The temperature is too hot. There are lots of natural disasters almost everyday in every corners of the world. These are the proof that global warming is real.
Still waiting for those palm trees to grow on the beach. Looking out my window, I see neither global nor warming. It is just cold and rainy 24/7/365. Ahhhh I got no natural disasters either… feel so left out  |
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Moles Accept Bitcoin near you ?
What moles do you mean? Is this the animal one that digs up land? Anyone understands what this mole he's talking about? Ahhh don't be like that, you know very well what he is talking about. Not all here has English as mother tongue, including me. Funny tho  |
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This isn't clear yet. It's possible (even likely) that the final Bitcoin Gold code will include replay protection. If so, it won't be unsafe for exchanges to add the coin. Having said that, it's only a week away from the fork and we still haven't seen the code. That's a bad sign, given that there should be ample time for auditing/testing, especially in an open source environment.
I think that we are all probably blowing this out of proportion and that this launch will be a big flop. I suspect that the hype surrounding this "hard fork" may have been to cast doubt on the Segwit2x fork next month.
That might indeed be so. I like the hype, people blowing off altcoins to get btc. Good for those that does the opposite, collect altcoins, and don’t really care about btc gold – like me Hope the altcoins goes up again tho |
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ya. you see many storm coming usa this years. more will come next years if we dont do anything
Storms (i.e Typhoons and Hurricanes) are unrelated to global warming in my opinion. They are part of the natural process and they will occur even if there is no global warming. If you are talking about floods and droughts, then it is understandable. But the studies and researches have not found any link between the hurricanes and global warming. Fully agree. It should be further noted that climate change also is a natural process that occurs every now and then. Here under both cooling and warming – with or without human participation. |
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Well the article is not fiction and the year sounds about right. The Nordic countries has been fast and continuously in adopting non-cash payments methods. I live in Denmark, and I don’t really use cash anymore, for anything. I can go month without using, or even seeing paper. In fact getting rite of large amount of cash is becoming increasing hard. Bank simply does not take it anymore. I use credit card, wireless credit cards and mobilpay. It is available anywhere, nationwide. We have a “Denmark credit card”, called DANKORT. It was introduced in 1983. It has been fee-less for nearly all its life. About 10-12 years ago they tried to introduce fee on every transaction (the card has more than a billion a year), which resulted in a nationwide outcry. Transactions count fell 25% within days. The card is so integrated in Danish society that the cash supply was simply not there anymore to cope with the sudden change in payment method. The user revolted against the fee, retail complained loss of business and not enough cash and the government revokes the fee after only 6 days. The banks and retail split the bill instead. Knowing them well enough, the probably just pass it on to the user in another less in-the-face way.  |
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MultibitHD still works, but it is not getting updated anymore. I would not recommend still using it though. I still have a MultibitHD wallet with a few sat in it.
Switch to electrum, it’s easy and you got more control vs. MultibitHD.
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Many people tells BTG will become another failure. What is the base in this? Can this be true?
BCC or Bitcoin Cash never becomes a failure for me, because there a lot of Bitcoin users who likes and trust it. About Bitcoin Gold (BTG), lets just observe what will happen to it. If there are bitcoin users who used this, then I think this will never be a failure. I'm with you on that one. I will observe, cause i don't know were to stand. I am just going about like normal, trading a little coin here and there. Good coin (what i think is good) can be had for a nice price these days. So that i one good think in this |
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This is a future I dream of, a world where bitcoins can be spent almost everywhere and we don't need to convert to fiat any longer. That's really a dream land for me. I guess it won't happen yet in the near future, or maybe it would just be a dream. I do believe the conventional money will be replaced, though I am not sure if bitcoin will be its replacement.
Sadly it is not going to be btc. If btc (or any coin) should dethrone cash/credit card, they need instant transaction / confirmation and zero fee, or at least so low a fee that you can buy a gum in a store, and not get killed by fee. 95% of all coins have no chance in that way. In fact the whole block chain technology is flawed for use with minor daily usage. And while we are at it, all the focus on anonymity and security, f… that! Those that want to be anonymous and secure is going to find a way to do that, they are doing it right now, all the rest does not give a shit! Credit cards, half the planet use credit card. All it takes is a photo of front and back with your smartphone in 8 sec and you can shop on the internet. Still you gladly hand the waiter your card at the restaurant or let the wife/husband/grown kid/ whatever burrow your card, - with code – because it’s just a “special fast” situation. You are your own security blacksmith; no amount of system is going to compensate for stupidity, and we do it, all the time, everyone. How hard is it to put a tiny little sticker over your security code on your credit card? Right there you have just increased your security by a factor 10! And why is credit cards used by half the planet…… drum role……. fee! Or rather, the lack of it. Sure some cards have fee, while other don’t. But I can still buy a coke and not be killed by fees. |
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Transaction fees are a feature, not a bug. They are there for a reason, not just a necessity we could go around. They are there to stop the transaction spam, if there were no fees in the first place, Bitcoin would be an easy target for the DoS attack that could be stopped. Bitcoin would be dead in seconds. Don't fix what ain't broken, my friend.
True, but fee is also what prevents btc from become a payment option in a small shop. If you can’t pay 500 sat for gum, without paying an additional 5000 sat for fee, it’s never going to work. As I understand it fee is not really a requirement in btc, but a necessary evil in order to get your transaction included (timely). Of course once the block reward stops, it’s the only incentive for miners to keep producing blocks, which carries your transaction. Ironically this is what prevents btc from replacing other payments methods in minor daily usage. |
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så kom der igen en masse dejlige nye løg til samlingen og det er en af de eneste coins der ikke lider af det altcoin slagteri der er igang pga endnu en btc fork.
Yepper, der kom lige nogle nye løg på panden. Så er der biksemand igen Slagteriet skal nok gå over, de kommer op af igen mange af dem. Køb ETH og DO nu  |
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I don't think he is hiding, he is dead. My take is that he, satoshi, was the late Hal Finney. At least Hal Finney knew more then he was willing to share. Why not tell? well sometimes you just move on, get other intreast and he did not want to deal with all the media fuzz.
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Very interesting thread.
Fee is the very reason BTC can never become a daily usage coin. It is impossible to go in a buy a soda in a small shop, because you can simply not pay for it. You have to buy 50 sodas each time, just to be able to pay. Which of course begs the question, why is fee needed in the first place? To pay the nodes one will answer. Which again leads to, is btc (or any altcoin) then truly decentralized, if it is the 1000 some nodes that runs the show anyway.
Why can’t the 100 million users not run the chain without nodes? File sharing seems to work without fee, many credit card run without fee, bank transactions can run without fee, why can’t BTC?
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