So I've got like $5000 saved up so should I put i all into bitcoin
It would be unwise to put all your eggs in one basket. Yeah but they're already in one basket (in the dollar basket) This is a frequently overlooked point. A related fantasy is that no profit is real until you convert it to dollars. |
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When bitcoin was very rarely used the main thing to do was talk about it and this is the only good place so a very high % of users had accounts here. When bitcoin is very widely used (imagine whole world) a very very small % will have accounts here. We are closer to the beginning still, but moving away.
I think the point about older users becoming more comfortable and putting more value in makes sense too. Like someone who was just mining a little sees it in Forbes and decides to up the stakes a bit.
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Yeah, could make the payments total within like .2% of the right amount.
I assume users are likely to get other peoples dirty coins. It's still useful, but it isn't as good as clean coins. It would be cool if the payments came from a mining pool or something like that. It would add the problem of what to do with the dirty coins you get in though.
You currently make sure not to give people their own coins back, right?
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ok does someone have # of coins in existence by day?
I'm sure it's around here somewhere, but you can use 7200/day as a really good longterm aprox. |
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So I've got like $5000 saved up so should I put i all into bitcoin
Gotta decide for yourself. But make sure you understand as much as possible and are comfortable or you are going to screw yourself by panicking on any downswing. No need to do it all at once either. |
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Wow dude.
If I where you. I'd sell 1000 BTC every month for that current prize and fuck my day job. I'd happily pay taxes on that and life my life for the next 31 years in peace and riches..
I'd just set up some company that makes 7k profit a month, pay taxes and be left with 3.5k every darn month. Easiest job ever. And who knows, by the time your 31 years older those last 1000 BTC's are worth 10000$ each.
Say worth of BTC doubles every year. 7, 14, 21, ... 7.5 billion a coin. Meh. That won't happen :') But still :p
This sounds terrible. I would pay whatever was required to have all my needs met for bitcoin directly. I bet it would be easy and hardly cost extra in about 3 months. To never touch another dollar would be sweet. |
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Cumulative software downloads?
Do we have unique hits to bitcoin.org?
I also think it needs to be divided by coins in existence to give a clear idea. It won't be a slight effect.
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If that can be done then you should show us how. It's like saying "Hey, all that work you're doing to make medicine should make food at the same time". Yes, that would be great. Please tell us how to do it.
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It is nice that there are enough bitcoin users for them to notice. Hopefully it will make them less likely to block it.
Who's working on Dwolla2Coin.com and Coin2Dwolla.com?
You mean mtgox? Obviously MtGox is good. But there are people who don't want to see bids and asks and all that. They will pay a few % to see a rate and click one button. |
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Wow, what great answers...
Okay, so the downloading all the blocks thing that happens when i first install the client, that currently has all the transactions. When i say ALL i mean lets say that last year 50 BTC block was cracked and moved into circulation when the miner tipped it out to say 100 diff people. THose people went ahead and spent it in different places etc...this block now 1 year old could have thousands upon thousands of transactions now for the WHOLE history of movements between all addresses.
Obviously all we need to KNOW are just who the CURRENT legitimate owners of that original 50 BTC block, but even that may be some day thousands of entries long as the BTC subdivides into ever smaller units.
Is this basically it or am i still not getting it...
I think you've got it. |
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Lemme take a whack at this again:
Each block represents 50BTC right? Okay, but the ownership record of that BTC gets longer and longer as it and pieces of it are traded around. How is that not a recipe for eventual destruction...it makes no sense to me. some one help.
Yes, it gets longer over time, it will be handled. There is math stuff that can reduce it to what is needed to process tx. If you are not a miner you can run a simpler version (which doesn't exist yet) that lets you safely watch for new tx without having all the old ones. If you are just a really casual user you don't need anything, you can just use an online wallet. There is even a web wallet in development that won't know your keys. |
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Every transaction that is needed will be maintained by anyone who needs that info (miners mainly). It will scale fine and there is info about this all over. Check the wiki, scalability.
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Has/can this be done?
Yes, the test net is one example. |
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Yes, the problem is that double spends will be trivial on your chain. The most used chain will always be the most attractive for 2 reasons. Extra double spend protection and wider use. So everyone joins the strongest, making it stronger still.
There is no reason not to use regular bitcoin for your coop. It will be easier for people to pay you since they have bitcoins, not Aleqibitcoin. And easier for you to use since merchants take bitcoin, not Aleqibitcoin.
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Hello all,
First let me tell you all that i love the bitcoin concept. I wont detail the reasons as others have already did this numerous times, however i have a little concern.
How is the transaction chain gonna scale if at times the whole earth use it ?
It would becomes really hard to have and store the chain, and as well, could become hard to "keep up" for the network if transactions are created faster than it happens. I know, seems hard, however i work in finance and see daily algorithm doing like 1 million orders daily, making huge logs and huge database of which only a fraction of information is finally kept.
What are the technical solution that can be implemented to counter this eventual problem ?
Short story: Not everyone will keep the whole thing. Some will keep none, some headers only. |
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Do you really think that all those first time posters prising you will fool us here?
It's only two noobs and it's not like the site is crap that no one would make an account here to praise. |
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Also, if Bernake keeps printing dollars until we we all suffocate are the police going to come help you?
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If your [insert anything here] are stolen, why should the police help you?
Seriously have the police been helping you a lot? |
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It is nice that there are enough bitcoin users for them to notice. Hopefully it will make them less likely to block it.
Who's working on Dwolla2Coin.com and Coin2Dwolla.com?
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The pins look very nice, perfect size too imo.
Unfortunately, the envelope was damaged in transit and 3 of the 4 pins were lost. Divergenta has offered to send replacements. A+ in my book!
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