Just cought the following tweet: rampietti @TheRealPlato Hi, can you contact me at alessandro.rampietti@aljazeera.net please. trying to do a story on Bitcoin for al jazeera english. Could someone contact the man? |
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Well isn't there a way to change this and be more micro-transactions oriented? Shouldn't we strive for a higher convenience?
I'll give you an example:
If I'm walking down a street and see a street musician and I like the music I'm far more likely to reach into my pocket and throw him a quarter or something then I am if I have to go 2 streets out of my way to find an ATM, then find someone to trade me some change and then find the musicians agent who is another 3 streets out of my way and collects his tips.
I understand the reason why those fees are there, but isn't there a way to change this system so that all I have to do is c/p someones address and throw them a quarter without paying more then a cent or two?
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yeah but still, how much do you think that I will make with using that in a pool though? atm im at 64.5 Mhash/s
0.13 BTC/24h is what the calculator on deebit.net says |
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I have the 3.21-beta client, is there a newer version I should be using? EDIT: Well guess not because I just redownloaded and reinstalled the official newest version from www.bitcoin.org and when I try to send 0.03 I get a popup saying "This transaction is over the size limit. You can still send it for a fee of 0.01, which goes to the nodes that process your transaction and helps to support the network. Do you want to pay the fee?" where it gives me a yes or no option and if I click no, it cancels the transaction. |
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It's just too big. I have only 2.5 BTC in my possession and I read this article that I liked so I wanted to donate a small ammount of 0.03BTC which is around 25 cents USD and now because there's this stupid 0.01 mandatory fee I'm just not going to donate anything.
Freaking fix this.
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Maybe he just moved them to a more secure wallet..
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Consider a scenario where someone from not even a year ago took on a BTC loan to buy a new computer valued at $800 USD. Each bitcoin was about 0.4 cents each then, so they would need to borrow 200000 BTC. At a conservative 2% interest rate to offset risk, that's 204000 BTC.
Fast-forward to today and the loan is due. Each BTC is ~$8.50 right now, so the borrower needs to get $1,734,000 of value in order to pay for an $800 computer from last year.
Do you think someone who didn't even have $800 of purchasing power a year ago would have $1.7 million now? So wait, the only two options with lending are you either pay back or you don't borrow? Have you heard of defaulting yet? |
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So how can a family pay for medical care in an emergency? If they borrow the money you can see how even an interest free loan is worse than a 5% mortgage with their income decreasing at a regular pace if they wouldn't normally get a 5% wage increase in an inflation economy.
How would you react if your employer where negotiating the percentage of your annual pay cut? Don't worry you can still buy more loaves of bread just not as many as if you had that great wage you had 5 years ago.
You are asking the wrong question. You should be asking why I should risk lending money to you if I can save at no risk instead. And if you can't answer that question, there are others out there who will and will get the loan instead of you. |
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Maybe people won't need to take as many loans when savings actually mean something. Maybe people won't buy houses that they can't use or afford. Maybe they will buy more efficient vehicles instead of having 3 brand new SUVs in every garage. Maybe the farmer will be able to afford seeds from his profits that he saved from last year. Maybe the economy won't work the same way when the money is real and credit isn't easy. Maybe goods and services will cost much less. Maybe people will learn to save when their savings might go up in value on its own. Maybe we won't have to pay as much in taxes to bail out banks and corporations that are too big to fail. Maybe people will learn fiscal responsibility. Maybe we wont see as many malinvestments. Maybe people will loan at zero interest just to improve their community. Maybe they will loan at zero interest and get a share of the project. Maybe people will have to convince lenders that their idea is worth more than the next guys idea and we will have fewer high quality projects instead of more low quality projects. Maybe you can create a block chain with properties you like and let it compete with the current block chain?
I think this post deserves a standing ovation!!  |
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As for the DDoSing I'm split.
I already made a post about the danger of some pool getting too big and getting potentially dangerous so I like the fact that that's getting stopped. But as someone who believes in property rights and nonaggression principle I cannot condone using force to achieve it.
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This way no evil person will know you're there and the variance is much lower.
Seriously? Evil vs good? You're really going to spin this? Cut the bullshit please. |
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Actually it's just a way to default on their debt. That's all it really is and they have to do it because they want to keep the appearance of paying off their debt.
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Hmmm usually your jokes are funnier.
Btw I suggest a moderator moves this into off topic, ty.
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To try and maintain the appearance of at least some credibility.
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LOL Hahahahaha  Awesome speculation, Horkabork, you speculative speculator you! |
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Quick kiba, you know what to do!
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LOOOL In the currency wars, the nerds are winning. The value of a Bitcoin — a digital currency trading over peer-to-peer networks — has rocketed more than nine-fold in two months to $8.74. The preordained supply and decentralization of Bitcoins have intrigued geeks and paranoid inflationistas alike. But this abstract gold may not survive what looks like a bubble... By Robert Cyran The author is a Reuters Breakingviews columnist. The opinions expressed are his own. Read more at: http://blogs.reuters.com/columns/2011/05/27/virtual-bitcoins-are-appealing-but-probably-doomed/ |
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What if someone bought up all the US Dollars?
What if someone bought up all the 6990s?
What if someone bought up all the air?
And what if someone bought all the inches!?! OR what if someone bought up all the what if questions?  |
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2. Bitcoin fractional reserve lending
obviously FR banking risks a run on the bank, but conservative banking practices and a high reserve ratio with full disclosure should minimize the risk.
I would quit using Bitcoin the second that or some form of monetary inflation is implemented. |
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Cool, I might take up on that offer.
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