I wonder how much misery irreversibility causes versus reversibility. It probably balances out quite nicely.
Reversibility naturally requires a third party so that being the case I'd be out.
Yes, in a decentralized system reversible is not at all possible. The reversible features still can be associated with bitcoin by having escrow functionality with a trusted mediators. Reversibility and decentralization are two different extremes. Liberty reserve had irreversible features still centralized system. |
|
|
|
yes I have seen these sites by google them. Some sites support Indian operators for top up. That's the good news. Actually I was planning to start a mobile top up site for indian mobile operators. That would be more attractive more bitcoin users, as well as it may start attracting many people towards bitcoin. |
|
|
|
if mining were possible on my own and also profitable, I would most probably start mining. but unfortunately it is not. because not only I have to invest a lot of my money into buying equipment that I can mine with, but also there is the issue of Electricity and worse than that is the place the equipment requires and the sound it is going to make.
which will make it not a home friendly activity for me!
I also had planned for bitcoin mining. But buying bitcoin mining equipment from India would be very big deal. I read I may need to pay import charges for the parcel I receive from abroad. All the above electricity problem also here. So, instead of buying a mining equipment I would better buy bitcoin for safer future. |
|
|
|
I'm not ready to believe this. But at the same time I have to believe. I tried some 1000 address from random pages but ended up unsuccessful. My attempt was to find even a zero balance used address may had unclaimed Clamcoins. But, Most of the address, 99.9% address were unused. |
|
|
|
LOL...just tell us it's "magic internet money".
And the #5 comment ;-)
Oh, yes. In India, when offline shopping is possible with bitcoin, then women will rush into bitcoin world. Or, we need to promote gold ornaments for bitcoin. Then also, we can see a peak of bitcoin in India. In common, when everything available for bitcoin, people will start using bitcoin for sure... |
|
|
|
Bitcoin can be complicated years ago, with only Bitcoin-qt (now known as Bitcoin Core) available as wallet. Now, with the rise of SPV clients, synchronization is done in a matter of minutes. The only few things to know about Bitcoin is confirmations, transaction ID and address. The buying process can be complicated if you are trading in an exchange as there are several barriers of verification to go through. For ATMs, only a driver license is needed.
Yes. Till ATM reaches every where, people find some complicated process to buy or sell their bitcoins. I also found too hard to go with bitcoin-qt in my initial days. But that problem is quickly resolved when i chose to go with light weight wallets. Everything in this world has come difficulties. To reach our target, we need to bear those. |
|
|
|
|
Negative interest rates are very good symptoms for bitcoin growth. People will not save their money in bank deposits and in saving accounts. Instead they will look for alternate investment opportunities like gold, blond or obviously bitcoin. Bitcoin may attract many investors because of higher returns.
|
|
|
|
India is really catching up well. I started India's first bitcoin exchange and I have co founded Zebpay where Indian's can buy,sell bitcoins, buy vouchers of Amazon, Flipkart, buy air time wit bitcoin.
We have seen a huge new user adoption into bitcoin. We have over 15k registered customers and most of them are from India.
But if we talk about spending bitcoin online, we are still about 2-3 years behind.
Overall its promising.
Thanks and Regards
Bitcoin is much needed for India kind of country. For example, Indian users can not hold money in paypal and can not spend it's balance. Multilevel of taxation. Tax for bank interest. So, Indian online users have more future along with bitcoins. Do not know, RBI may bring bitLicence kind of new rules too. |
|
|
|
|
Purpose of bitcoin is financial freedom. No more huge transaction fees. No more freezing account funds. No more to trust third parties who come and go with our money. But currently bitcoin used to hold our savings as an investment. So, now a days purpose of bitcoin is to get a big fortune.
|
|
|
|
Both the subject of the OP and any allegation that an alt coin could save Greece are far, far away from reality. The subject in the article was relevant for a short period of time, but with the backlash it received I think that it's be easy to say it was denounced pretty quickly. Staying in the euro with a parallel currency could on it's own have Greece kicked out of the euro. And please don't speak of altcoins as they can save a nation. This brings delusion to another level.
There is no meaning to have their own bitcoin-like money. They already have as their fiat. Only difference not electronically movable. So, electronic money, easy transmittable only would not a solve economic crisis. Same as Gold, why some country not yet declare their own metal like lead or copper for storage of investment or at least silver. |
|
|
|
So the point of reward halving (among other things) was to attract users to this then entirely new technology. I take it, and it might have served well to this end, but I'm still suspicious that nowadays it wouldn't make more harm than good...
It is in fact a large topic about reward halving, I guess Satoshi must have put lots of consideration in this area There are basically 3 types of money supply scheme: 1. exponentially increasing (fiat money) 2. linearly increasing (Dogecoin) 3. limited (Bitcoin) In fact, 2 and 3 are almost the same from macro economy point of view: After some decades, the increase in total money supply in 2 will become so insignificant percentage wise, that it is almost like fixed (If the money supply increases 0.1% per year, then its impact on inflation is almost the same as limited total money supply) So for the sake of simplicity, Satoshi went for model 3, which could give a very clear signal of limited total money supply Then he had to decide how those limited coins will enter circulation over time There are basically 3 types of distribution model: 1. distribute using a progressively increasing schedule 2. distribute equal amount of coins each year for xxx years until reach the limit 3. distribute using a progressively decreasing schedule It is clear he didn't want to use model 1 or 2: If bitcoin indeed take off and gained mainstream popularity, then large banks with lots of resource will easily control majority of the coins at later stage. Those who are interested in the idea must be able to control a large part of the bitcoin when it is still in its infancy So a progressively decreasing schedule was selected. Then how fast and how often the block reward will drop will be decided. It must consider the speed the information is spreading on internet, give early pioneers enough time to react, but it should also leave enough incentive for late adopters to continue strengthen the network until the fee income replace the block reward If the reward drops too fast, it will reduce the late adopters' incentive thus might fail to attract enough support before it reach mainstream. If the reward drops too slow, it will be close to model 2 thus give large institutions enough time to control majority of the bitcoins. 4 years period is already a long time for any IT related projets, so let half of the coins distributed during 4 years sounds like a decent pace Why 50% drop every 4 years instead of 16% every year? I have not figured out a good reason, maybe to make the mining anticipation simple and relatively stable during a 4 years time. Could also be a strong anticipation of price rally every 4 years, thus everyone is at least hold their coins for 4 years, encouraging long term saving Very much useful information. Thank you. I was able to understand why bitcoin has capped supply. But for long time I do not understand why halving is scheduled for 4 years. Might be as you stated, at leats for 4 years people will hold it to gain some profit. Really Stsoahi, the master mind. He must be a technical Guru as well as Financial expert. Must deserve a Noble prize. |
|
|
|
|
The huge volume is the power of dogecoin for getting us the stable price. Unlike bitcoin or litecoin, dogecoin doing differently with huge volume and uncapped nature. So, we can expect something different from dogecoin. But I need to agree that dogecoin is not making any sparkle news now a days.
|
|
|
|
|
I run my bitcoin bank in my computer. The basic objective of satoshi is to provide banking facility to everyone with zero trust. It means anybody can run their own banking system. Our wallet is very much equivalent to a bank. So, I'm not thinking of a traditional style of banking for bitcoin.
|
|
|
|
Currently i am afraid to use these debit cards because the prices are going over my head and they also charge money for atm withdrawl too. I am happy to wait for some more time to see lowered prices and then will apply for one.
Same here. I wanted to give it a try. Just because of higher fees I decided not to go for Xapo debit card right away. But surely I will give it a try when bitcoin prices to sky scrappers. I feel using bitcoin for daily needs very much needed. So, using bitcoin in the mode of debit cards would be very useful. |
|
|
|
|
The future of bitcoin :
1. One satoshi might be more than $1
2. Your salary will be paid in Bitcoin
3. Your everyday needs do not require any fiat only bitcoin is enough to buy them.
4. If you prefer you can pay tax. Only optional tax for salaried. Business needs to pay tax.
5. All countries thinking to adopt a single fiat as country specific is no more meaningless as bitcoin doing cross border.
These are our future just because of bitcoin.....
|
|
|
|
Hey all. Recent developments around the block size debate have sparked alot of discussion about several topics. I've seen many people arguing that BIP100 gives too much power to the miners. I'm not trying to provoke feelings one way or another, I'm just looking to see if people are willing to put their trust on miners about such decisions.
Cant really trust miners, there a lot of promises that they have given but in so many reasons I wont be able to trust those miners, I'm sure they are just doing their thing but cant trust my coins to somebody else. There is no pint in trusting miners. Bitcoin network itself decides and chooses the best miner for the block reward. Some cloud mining services was run as a ponzi scheme. But miners are just part of the bitcoin system. In a decentralized environment, we do not need to reply or trust anybody. |
|
|
|
Jeez louise, just click the button to stay with bitcoin. Is that so hard?
Yes it's hard. I just do not like that option. In my opinion everybody looking for bitcoin and traders buy or sell bitcoins for USD or vice versa. So, asking for converting it's so hard from a bitcoin start up. Circle now seems like a not a bitcoin service. They need to support bitcoin community at least by showing some love towards bitcoin. |
|
|
|
Once I recommended bitcoin to one of my friends
But he did not show any interesting in crypro currencys at all
This had happened to me also. But, we need to follow them by asking them to search in google for bitcoins. I just showed my friends the predictions of bitcoin prices in reddit posts. When they see, bitcoin may hit 1M per coin like that, my friends changed their view on bitcoin. 2 of my friends already bought some bitcoins. We need to spread word on bitcoin for our growth. |
|
|
|
For the first time, when I look at the offers on LocalBitcoins.com, there are a half-dozen currencies ahead of the US dollar, offering a higher price for Bitcoin than US dollar users.
Euros, South African Rands, New Zealand Dollars, Hong Kong Dollars, Polish Zloty, Malaysian Ringgits.
It is no longer just the US, EU or even China driving adoption. There is a market for Bitcoins in major countries all over the world.
It is possible for it to become the next global currency, as much as heard that it is becoming known with other countries out there and at the same time used. as much theres someone use it and as much as government will not ban it and if they can not totally support it, just give bitcoin a chance to prove that it can help the economy of their country. There is no problem even if some countries do not like the growth of bitcoin or the raise of bitcoin. It will not definitely affect the bitcoin's growth as a global currency. When, there is a real potential thing happens, it will reach it's own target just because of it's own deserved potential heights. So, bitcoin to be global currency is imminent. |
|
|
|
|
Show Posts
