Wiki money. Democratic money. The People’s money.  I like the "Internet ’s currency" best. It’s not just another Flooz, Beenz or e-gold, but THE Internet’s currency because it is universal. |
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Transaction fees will slowly replace the block reward.
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There is no way to fix it. That is the normal progression of a niche forum going mainstream. That's the way of the Internet. The average poster's contributions trend toward the Internet's greater average, which is terrible. I've seen it happen on a number of forums that I've participated in.
Which is a good sign. |
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No.
Only the payer needs internet connection for transmitting the transaction to the network.
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Well which is it? In developed countries, most people have used the internet, and most people have used email, but Bittorrent is a niche. A huge niche, for sure, but most people haven't used Bittorrent.
My point was that it could be marketed as a universal standard. Bitcoin can become the Internet’s standard currency just as Email is a standard for communication via the Internet. Bitcoin will be like Bittorrent at best. I would still count that as hugely successful. At worst, Bitcoin will be like Esperanto: useful to its adherents, but not taking the world by storm.
I disagree. Bitcoin could be much bigger than that. Just imagine if it was widely used as a currency over the Internet … It’s a long way there, but I believe many people would feel good boycotting PayPal and supporting a truly free currency. Many already do. |
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I fully agree with Gavin. Most people are not anarchists.
It’s way too valuable to remain in the claws of a tiny, extremist community (no offense, guys).
Bitcoin is just like the Internet, like Email, like Bittorrent. Bitcoin = People.
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Bitcoins will only increase in value, making people not spend them, decreasing demand and value for them. Increase in value = decrease in value = ultimate deflationary spiral Keynesian logic.  |
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If it controls 55% of the hashing power that means no one else can control greater than 45%. I’ve read this three times now and can’t believe you are serious.  |
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OCN crowd is difficult to argue with. Use visual aids. Pictures of some insane watercooled rig with words 'I do not use large pools' would do wonders.
 We shouldn’t attract such idiots in the first place. They don’t even care about Bitcoin. |
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If any sort of takeover happens, I can garuantee you Bitcoins will be almost worthless faster than you could react and will have a very hard time ever recovering.
People will never value a currency that can be taken down this easily. No value, no currency.
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GLBSE is a good idea, I’d probably buy shares.
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The idea Tycho would do something with his 'powers' as soon as his pool reaches 50% is just simply stupid.
Currently (in the current market) the guy makes 1000 - 1300$ PER DAY , that is 30k to 39k PER MONTH. In untaxed money even.
He would be stupid to do anything to destabilize the bitcoin market.
So what? There are lots of entities that would like to endanger Bitcoin and they would certainly bribe/infiltrate with money that would let your figures look like peanuts. But yeah, let’s just wait until this happens and trust in Bitcoin vanishes in an instant. As long as you can get USD for your Bitcoins everything’s fine. |
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I conclude that most of the miners are short-sighted people directly selling their Bitcoins for Dollars. They mine on deepbit because it’s too much of a hassle to switch or they don’t really know that a single entity (or even a few entities) in control of >50% of the network’s hashrate are dangerous, and even then, as long as they can convert their BTC into USD today, they won’t care.
If Bitcoin fails, the grashoppers just move on. Nice!
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You people flock to bitcoin supposedly to reclaim public, distributed control over a currency, and then you just give away the power to the first pool operator who asks for it.
What a joke.
The fact that people are actually arguing here that "deepbit would never do such a thing" is unbelievable. Is he Jesus now? Is he your new guru? I thought the entire point of bitcoin was that no one would be the guru, no one would have control.
And then you have the incredibly naive and ignorant argument that if someone abused the network people would "rally" to save it. What fantasy world is this? That's not what would happen. People would abandon the currency because they don't want to sink more money into a flawed concept and flawed community.
I wish I could object. Thank you for putting this in clear terms. |
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It makes me sad that people actually believe this stuff. Fiat money is a scam, a voluntary currency without rulers on top of it certainly not. But I guess Gold is a scam too … and Google IPO … |
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you can always buy some 2nd life dollars with a credit card then convert it to BTC, probably the quickest/easiest way right now albeit a bit odd.
Where can you buy bitcoins with L$? |
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Just go out on the street and ask a random person why he didn't invest in Bitcoins a year ago.
Because he either didn’t know or understand it. |
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