Really nice, I was looking for the original infamous 10000 pizza transaction. It turns it was 2 pizzas, so 5000 BTC for 1 pizza, not that bad of a deal  I would add to the list the best satoshi quotes. A lot of people come to this forum to learn about satoshi and are curious to see what he was like when he posted. A "Satoshi" section with the best threads and posts by him would be good imo. |
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So let's say you are a noob, trying out Bitcoin for the first time ever. You have some dollars in Bitcoin and you want to send some to your friend to test it out. You see the "fee thing" and see how it gives you the possibility to put a 0 on it. He may thing "cool, this is optional it seems, it seems it will work if I put a 0 on it anyway just slower". But then it turns out the confirmation is stuck...
What happens to the guy's money? Is it stuck.. for how long? Can a transaction be unconfirmed for life? what then? scary.
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I have always used core and I noticed that the fee adjusts automatically given x parameters so it guarantees your transaction doesn't get stuck. But I didn't knew that core was the only one that did this... I think this is essential. Why aren't all of the rest of the wallets doing this? We need automatic fee everywhere.
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A "bank" for Bitcoin already exists, it is called Xapo. They will store your Bitcoin for you in secret underground vaults. It seems pretty legit if you ask me. But im a purist, so I think Bitcoin's major points is it allows you to being your own bank, so I would rather trust myself and store them myself, than trust a third party.
It's definitely better than current banks tho.
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This section from the film "Zeitgeist: Addendum" was pretty good: https://www.youtube.com/watch?v=t5ayg3hbhoMIt was one of the first films I saw where I learned the scam of fiat money. Im not sure about the solution these guys propose (resource based economy) but it's definitely worth watching. Nonetheless, Bitcoin is an objective upgrade compared to what we haven ow. |
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Gold is just all network effect, other than that it's an useless piece of mineral. Sure it can be used here and there but that's all. Meanwhile Bitcoin outdoes every other form of money we've ever seen:  It's all a matter of fighting the network effect in favor of Bitcoin. Bitcoin already won every other battle, it just lacks the popularity and acceptance |
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Because society is like human, very adaptive, central banks print more and more money to stimulate, but have less and less effect since everyone has already adopted to it and need more and more to stimulate. Once central banks stopped printing, the whole thing will immediately fall back to even worse level than before
Someone had a forecast of bond bubble, e.g. bond are valued much more than they should worth and will be sold off. But since central bank can always print new money to buy the old bond, the bond price will not crash as long as fiat money's value don't crash
A total crisis will arrive when the confidence of fiat money collapsed, then bond will also crash hard together with fiat money, means hyperinflation. But so far there is no sign of confidence loss of fiat money, only those a few on the top start to question the fiat money system, its a long way until majority of people understand the fiat money scam, and by that time its value will already be close to zero
Indeed, its just like exposing human tissue to a certain chemical compound, the receptors become adapted and that's why you stop having any effect and you need more and more dose. Practical case: bodybuilding. At some point you stop growing and you need to take a vacation from steroids. Similarly, fiat economy is benefiting less and less from QE's. In fact they need to print more money than last time each time to get any results. |
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For how long it can keep going in a state of a comma is indeed the real question to determine how many years away are we from a big structural crash that makes stuff collapse. I think they will be able to keep doing the QE scam for a couple of years before we see Fox news report on how the supposed recovery of the economy is a pretend game.
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Whichever governments want to extract the greatest percent of GDP growth (collect the most tax dollars) for their country from this new technological revolution will be the first ones who give regulatory clarification and those with the least legal regulations will get an additional GDP boost.
Just like how the countries that industrialized first had a GDP growth advantage over those who industrialized last. The early adopters get the most benefit. Just as the early bitcoin adopters did better than the rest of us late to the party Rip Van Winkles, the early Countries who adopt crypto will get much more benefit than those who are late to the party.
The early bird gets the worm, and it looks like China is hungry. The sun rises in the east after all it seems.
They will first need to find a way to enforce the taxes.. It will be very difficult in the early days to keep track of bitcoin and wether taxes are being paid. I don't see the early countries benefitting more in this way. It will probably be those sitting on the sidelines, first creating a method to extract taxes, that will profit. I still fail to see how you "regulate Bitcoin" so to speak. How in hell will you keep track of all of it? And i don't see how it would be less difficult after the early days. The more people using it, the more of a nightmare it will be, but the main thing is anonymity being increased overtime as the software gets better. |
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If the time comes that certain coins are considered permanently clean and others permanently dirty in a future regulated world system,
the community as a whole should purposefully contaminate all clean coins found on the blockchain.
And what incentive does anyone have in doing that? Should we use the Bitcoin Honor System(TM) and hope people are willing to devalue their clean money? I have a better idea. Fungibility. I see a pattern happening here: 1. Issues raised with Bitcoin's fungibility get brought to light 2. Supporters of bitcoin's "fungibility" propose solution X 3. Those who want to see reality for what it is go on to debunk solution X given it is a patch to the system and not an actualy addition to bitcoin's protocol which attempts to fix bitcoin's fungibility issues in a ROUND-ABOUT-WAY. 4. repeat step 2 for solution X+1 until X+n is reached 5. agree to disagree There are so many supposed solutions to fixing bitcoin's fungibility problem but they don't hit the issue head on. It is always some sort of of chain (outside of bitocin protocol) PATCH which does not fix anything deterministically 100%. Fungibility isint a problem in the first place. Its not because a dead man said it need to be fungible than the principle still hold true. I very much doubt he could foresee hundreds of years in the future that money would become digital and ethereal. Now we're in the era of Security. How it isn't a problem? Of course it is. If someone gives you a payment to an address of yours, and someone finds out that's your address and the Bitcoins you recieved happen to be traceable black to criminal money, let's see if you still think fungibility is a problem. |
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Core is still the best software for me. I like it because it's simple and im so paranoid about my Bitcoins that I only trust the Bitcoin Core wallet. I don't see a better way to store Bitcoins to be honest. You can just compress the wallet with SHA256 (which rar and 7z have) and put it anywhere.
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It will take one decade (or maybe less) until we see the average joes out here doing payments regularly on Bticoin. They need to see benefits for them to drop Paypal or whatever they are using, otherwise they will continue using whatever it's out there already.
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Yes, doable with Hero easily, but IMO Hero is still very lowly paid. Considering the amount of time it takes to reach Hero which is almost 2 years of being an active member, the rate should be way higher than it is now. A lot of campaigns pay the same for Sr than they do for Hero.
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It can be true but it can be also fake because they need to make profit.
We know that china has the largest bitcoin mining farms and maybe all wanted to trade at the same time.
They need to pump the price to make good profit so who knows what is happening there.
Well this should be fairly easy to see. I think that exchanges have certain recognizable patterns or used to. Maybe they have improved it but last time I checked they had addresses that repeated, so it would be a matter of making a sum of all the inputs. Anyway if it's real it's a shitton of money, it's a bit hard to believe that 1 million BTC got moved in a day, but maybe whales are starting to take positions for the next rally. |
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Simply put there's not enough users out there to make a business profitable going in 100% Bitcoin only, but make no mistake, whoever pulls it off, and does it correctly and manages to establish themselves as leaders in a niche and only using Bitocoin, will be considered pioneers in a couple of years, so there's a risk-reward to be made there.
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Im pretty sure that if the means of production of the modern society that will come in the next century or so, are private, it will mean the end of anything that isn't super rich and super poor. If machines are creating a surplus of stuff and it doesn't get properly distributed by making the means production a common good, we are fucked. It's as simple as that. There's no way around this. It will literally be like the Elysium movie.
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This is my first post. Please do respect
My post intention is to help readers to save their money.
Some of the employee are not saving their money. They spend it on things that they dont need. For example gadgets,buying a concert ticket, accesories, etc.Buying things that not they need is also like a wasting money. Because this thing give a happiness not a good life. Saving money is just like securing your future because your savings can help you in emergencies. These are the way to save money .
If you are empolyee. You must save atleast 20% of your salary. The 20% of your salary divides into two .
The 1st way : cash reserves- medical insurance, retirement, life insurance and if you not have salary yet. And emergency. But dont spend all of you 10% in this emergency. You must know if the injury is serious o not before you spend the 10%.
The cash reserves must equal of your 6 months salary this will help you and ensure you becauas of you loss your job you have extra money .
The 2nd way : investment, business- you can invest in some company so that you have a extra income. And you can also built a small business that will always have an income like apartment.
Example. My wage is $ 7.5 per hour and i work for 8 hours and i work for 20 days. So thar my salary is $1,160 . The 20% of $1,160 is $232 .
So that my cash reserves is $ 116 i can spend this money in emergencies and medical insurance.
If my 6 month salary is $6,960 i can stop my saving money in cash reserves.
Thank you .
One of the many ways to save money is to never purchase expensive items on impulse. It is takes a strong willpower to do this, but this is essential if you really want to save money. until you can use the old stuffs don't buy a new one, because its only another expenses unless your stuff has many issue this can help while you are saving. I know a lot of people that can't stop constantly updating their phones. The new iPhone just came out and they would go from 6 to 6s. They don't even wait for a whole number update. How ridiculous is that I mean what the fuck, even if you are rich, I still see it as stupid, let alone if you aren't. Im still using my old Galaxy 3 and don't plan on changing it any time soon. |
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I've heard some people talking about this. Apparently the next big update (0.12) will enable pruning of the blockchain, which means you will be able to run a node that only takes about 1GB to download and to keep locally. My questions are, if this is safe to do or you are in some way compromising your security. I guess the network also loses security if you use the pruned blockchain and not the full one.
I would like to get this properly explained .
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They sound like a great team as compared to Mark Zuckerberg's. Unfortunately and as always, network effect is a massive player and it might play a role way too big to make people move from Facebook to Tsu. Facebook is just a household name. Sure, even titans can fall like MySpace, but for now, I think Facebook will remain the #1 social media site.
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I don't get this. How did they achieve this? Is this official support of PayPal to bitcoin, or is it done through some 3rd party method? Why isn't PayPal accepting Bitcoin directly already? I want to be able to buy anything on ebay with Bitcoin, im tired of the PayPal bullshit. |
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