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When the "other guy" is waiting for a $0.00004 gambling microtransaction that is going to result in them losing their money anyway, I don't see it as an issue.
If you don't think Bitcoin is worth dropping a couple cents to transfer your coins, you can always use paypal or other alternatives.
I really don't think there's any significant number of people who would be looking to transfer ~10 sats. That's not the problem here. The problem is people happily paying those couple of cents (default 0.0001 for <1kb) and still get their txs stuck. The major problem is people currently in control of BTC development see this as something desirable. To dumb it down, if you have 1 tx/sec capacity and a constant demand for 2 txs/sec, then there will be winners and losers, doesn't matter how much they're willing to pay. Sure, you can make yourself feel better thinking all the txs that didn't go through were spammers or micro-gamblers. I'd still call it a flawed, unreliable, unpredictable model. ...
The facts are that the Bitcoin fee could go up 10x and still be significantly cheaper, safer, faster, and better than any alternative out there.
Disagree on "cheaper, faster, safer" but let's skip this. 10x up in fees is fine? What about 20x, 50x or 100x? You gotta draw a line somewhere, so where is it? And how do you make sure fees stay on desirable level without some sort of central planning? You don't see Ruth's Chris Steak House trying to beat McDonald's pricing of the McRib...
No idea what RCSH is, but I'm pretty sure that if they had constantly more demand they could cater for, they would be looking to expand their facilities and add more tables in, rather than try to engage customers in a bidding war in order to get seated. ps. Ever wondered why restaurants (or other businesses) bother to accommodate more customers rather than crippling the capacity to only 1 table and simply charge more? |
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... In comparison to Bitcoin is what I meant. So there already are sites that accept ETH, but you can't use ETH nowhere in comparison to BTC? Yeah, let's pretend that makes sense. I cannot see why Alt coins discussions like ETH is tolerated on a Bitcoin forum under non-Alt coin sections any way. They stopped the XT discussions when it was labelled as a Alt coin and now we are
allowing ETH pumpers to hijack every other thread and ETH shills doing their thing all over the show. I also have some ETH but I am not going to force it down onto others in the hope that it might
become something and to the detriment of Bitcoin? How is this allowed on a Bitcoin forum?
Ask the guy who started the thread. For the record I am short Etherium today and have always been long BTC It's more about what's going on with bitcoin and less about some crappy alt. This. Biggest problem with Bitcoin atm is too many people take its leading position (first mover advantage) for granted. Stalling the growth and crippling its usage could backfire badly and suddenly. |
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is for miners and pool operators (not users) to adopt a different implementation of Bitcoin That little piece right there tells me all I need to know. So for just us "little old users" we don't matter? Seems you revealed your true intentions right there. Good luck supporting all those miners and Pool Operators without us non-important users funding the entire thing. Your whole argument is about Blocksteam being up to no good and manipulating the system, and here you are calling for a select subgroup to front-run everyone else to meet your own goals. Truthfully, I don't know which side to believe, but I think "as lowly a user" being thrown under the bus to advance your own agenda isn't going to help. How exactly do you matter as a user in this context? Users have a great power, but it's limited to whether or not continue to buy/use Bitcoin or move on to something else, so not really useful in this case. Or do you just need someone to pat you in the back and say "You're very important and your opinion matters" when it's not necessarily true. ...
Truthfully, I don't know which side to believe...
Don't believe anyone, do your own research and make your own opinion. |
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Altcoin discussion board in 3...2...1...
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@OP, stop whining and say hello to the free market. Seriously  like what is your problem with eth ? Where can I use my Ether? Oh right, nowhere. Here you go: https://giftoff.com/digital-currencies |
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Bank of England Is Preparing to Launch Its Own Bitcoin Version Called RSCoinhttp://news.softpedia.com/news/bank-of-england-is-preparing-to-launch-its-own-bitcoin-version-called-rscoin-501598.shtmlEngland's central bank has announced plans to launch its own Bitcoin-like cryptocurrency, which will be named RSCoin and will function on the same blockchain ledger technology that powers Bitcoin.
With more and more news articles about the financial sector and government institutions taking a close look at how blockchain tech could be used for various types of record keeping and data storage operations, it should not be a surprise that somebody has finally taken the first step.
The Bank of England has shown an interest, alongside other banks, in Bitcoin technology for quite some time now. While other banks decided to hire R3 to carry out research work regarding blockchain technology, the Bank of England thought it would be a better idea to ask local researchers from University College London.
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Bank of England looks into ‘centralised’ bitcoin alternative, RSCoinhttps://thestack.com/cloud/2016/03/10/bank-of-england-looks-into-centralised-bitcoin-alternative-rscoin/The Bank of England is working with researchers at University College London to design a Bitcoin clone of its own that can be centrally controlled.
A recent MIT Technology report claimed that the UK’s central bank had reached out to university researchers to help it create a cryptographically secure digital currency. The resulting system has now been revealed, and is named RSCoin.
The RSCoin system, developed by Sarah Meiklejohn and George Danezis, employs cryptography to obviate counterfeiting and tampering. Unlike other mechanisms, the digital ledger used by the new cryptocurrency is handled exclusively by a central body. The report explained that RSCoin will only be made accessible to central bank users in possession of a specific encryption key.
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A Bitcoin-Style Currency for Central Bankshttps://www.technologyreview.com/s/600980/a-bitcoin-style-currency-for-central-banks/The digital currency Bitcoin was designed to be independent of any government—a feature that also limits its mainstream appeal. Now researchers have invented a Bitcoin-like system that could make digital cash more practical by allowing a central bank such as the Federal Reserve to control it.
The system, RSCoin, was designed by researchers Sarah Meiklejohn and George Danezis at University College London, at the suggestion of the U.K.’s central bank, the Bank of England.
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The "$10,000" limit for Bitcoin transactions that doesn't exist for checks or bank wires still leaves Bitcoin an inferior option... and simply unavailable if you want to-- say-- purchase a 1KG gold bar.
http://www.jmbullion.com/faq/minimum-maximum-order-sizes/Says here that max BTC tx is $25,000 so 5 times higher than for cc and 2.5x higher than for paypal. Bank wire option has min tx of $2,500 (vs. $100 for BTC) so hardly superior. Looks like the ultimate winner is the paper cheques. But do people still use those? |
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You'll be paying via BitPay so you'll get order number + email receipt, similar to paypal, except you'll also have blockchain tx id as an extra proof.
I don't know how a blockchain tx id is proof of anything. A seller could just say it was not their address. How do you prove it was theirs? Anyone can create a bitcoin address, there is no requirement to show legal ID or anything else. Bitcoin has zero proof of actual underlying physical identify of the sender or the receiver of a bitcoin transaction. I could start a website selling gold myself. A buyer comes in, I create a new address and tell them to send their bitcoins. They send the bitcoins. I tell them I never received the bitcoins and it wasn't my address. Now, go to court to try and prove that the address way my address. You can't. You may have an email chain that says something. But I would have an email chain that had a different address in it, I'd just modify the email. How are you going to prove I received your bitcoins? As I said, it's an additional proof. You could take screenshot of BitPay screen with specific payment address (and order number) to which you sent bitcoins to etc. But yes, you can use pseudonymous nature of Bitcoin to scam people, it's a well known fact, but you could do the same with paypal/bank accounts registered under fake personal details not to mention cash transactions. I don't recall anyone ever claiming to get scammed by any of the major BTC payment processors. |
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Are they keeping the Bitcoins, or just exchanging them for fiat?
They use BitPay as payment processor so likely converting to USD instantly, although they could be keeping some % in BTC if they choose to. From their site, if paying with bitcoin:
All Bitcoin Orders Receive a 4% Discount Relative to Credit Card/PayPal Pricing
If paying with paper check:
All Paper Check Orders Receive a 4% Discount Relative to Credit Card/PayPal Pricing
If paying with bank wire:
All Bank Wire Orders Receive a 4% Discount Relative to Credit Card/PayPal Pricing
So, the "discount" is only a discount against credit card/paypal not against other methods of payment. I've never bought precious metals with anything but a bank wire. As a side note, bank wire is currently not available for them for some reason. I need legal confirmation that the money arrived. When using bitcoin, how do I prove the bitcoins were received by them? Unlike a bank wire, I'm not sure how well the court system would deal with hash addresses if there was any issue. And, as a final comment, I get bank wire transfers for free so I would pay zero to buy using a wire where I would pay a small transaction fee to use bitcoin. The cheapest methods to purchase are paper check (zero fee) and wire transfer (if you can get zero cost wire transfers).
Yes, as stated in OP you get 4% off compared to cc payments (and PayPal). That makes BTC payments the fastest (and cheapest for many) option. You'll be paying via BitPay so you'll get order number + email receipt, similar to paypal, except you'll also have blockchain tx id as an extra proof. |
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uki made a suggestion in the signature thread: Not sure, if this is the right place to post it. I was wondering, if I can ask for shifting the time of the tournament that we got the free entry ticket: Betcoin Daily Coin 1 BTC GTD.
As long as the tournament starts at 2am European time I can't use the ticket. Wouldn't it be a better idea to hold the tournament say 3-4 hours earlier, that way it would be evening in Europe, afternoon in US and morning in Asia, so that more people (myself included) can participate.
It's a +1 from me too. Moving it at least 2-3 hours earlier would work great for European players. Or maybe you could just change it for one week of the month etc |
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I don't see anything wrong with that. 28k transfers from left pocket to right pocket and back? Every 5 minutes?  Is this really bitcoin invented for? In a way, yes. You own it and can do whatever the f*ck you want with it, without having to explain yourself to any authority. |
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I'll just drop it here http://gavinandresen.ninja/satoshi-roundtable-thoughts...
“Everybody who support that, raise your hand” : a dozen or so people, most of whom were part of that Hong Kong meeting, raise their hands.
“Everybody who does not support that, raise your hand” : everybody else (forty? fifty people?) raises their hands.
... |
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Tx very much. So ill digg deeper:)
Apart from json file, you will also need a password that you set up upon registration. It will be useless without it. Hope you remember it. |
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