We will have to see about the "arbitrary". If if want to convert 1Mio$ to BTC send it over and my friend on the other side wants to convert it back to $, what would happen to the Market? That's an implementation detail, not a limitation in the Bitcoin protocol. But in any case the implementation is catching up to the capabilities of the technology every day. |
|
|
|
It is different this time! Yes and no. The ability to transfer arbitrary amounts of currency to anyone on the planet quickly and without prior restraint is a new capability humans have never experienced before. There is a large pent up demand for this capability. Of course the same rules of supply and demand apply to Bitcoin as much as they apply to anything else. |
|
|
|
However someone would have a legit argument if they wanted the cost and complexity of a court case. I agree that it's a logically valid conclusion and I'm not optimistic about logical validity being very reliable when it comes to the US court system. Perhaps I'm overly cynical, but I expect a smart hostile regulator would levy a fine of $1 less than the cost of winning that case. |
|
|
|
I think the actual creation occurred in 2009 when the Bitcoin Protocol was launched. I would argue that the protocol "creates" the coins, and USA based miners are just claiming them. It's a point that a hostile regulator or judge would not likely accept. |
|
|
|
This is a very important point. Banning SD in general makes no sense whatsoever, but figuring out a mechanism to stop the 1 satoshi dust spam, is definitely needed.
1 satoshi won't be dust forever. |
|
|
|
I think this is finally the last push before we see a strong reversal and, probably, head into the teens and maybe even single digits again. In the past as the price has gone up the total on order bid volume has increased, but this time it looks like money from bid orders was used to buy. That suggest to me that the behind the scenes buyers are out, and now people who have put lower bids up are buying, thinking it will go higher. Now's the time for the bears to attack. I think the crash is going to be massive.
Rally on boys! We have the go signal ! I repeat, we have the go ! Sooner or later that's not going to work any more. |
|
|
|
If you say so. Sounds like you are more concerned about it being useful for institutional investors than for the common citizen. Great, wall street is less uncertain about Bitcoin now, but I need a license to sell a friend a few coins. The usefulness is overwhelming me!
The sliver lining is that if Bitcoin is useful for the institutional investors the price would need to be such that, if you own some now, you'll be able to relocate to a more bitcoin-friendly country in the future. |
|
|
|
Seriously? Where did you read that I said that savings must be devalued? Here:
Why should money that doesn't circulate and isn't used for anything at all (investments, development, etc) gain value simply by not being used?
The only way to prevent savings from gaining value is to dilute, i.e. devalue, them with new currency units. This is the problem with these forums, too many zealots with their fixed ideas. Oh, so we're name-calling now? I can play that game too. The problem with online liars is they act all surprised that people fail to forget what they said a few posts before. |
|
|
|
Unfortunately - while idealistic, that's not realistic. It's going to simply be a matter of age.
Someone just going into the workforce will be making a fraction of what their parents made when they were young. Money will not move and production will cease resulting in bankruptcies and unemployment.
And, constantly decreasing salaries and prices would also be a logistical nightmare.
You're right - savings must constantly be devalued because central planners always know best how individuals should balance immediate vs deferred consumption. I recommend you never buy any bitcoins. |
|
|
|
Why should money that doesn't circulate and isn't used for anything at all (investments, development, etc) gain value simply by not being used?
Please explain this. The way I see it is that it simply promotes laziness and is detrimental to any future growth In order to accumulate savings, a person must consume less than he produces. The increase in future purchasing power is the reward for loaning his productivity into the economy, allowing other people to consume his surplus production in his place because they could generate further productivity with it. That's the exact opposite of encouraging laziness. Hard work and deferred gratification are what is rewarded. |
|
|
|
|
I don't see how Ripple adds any value to Bitcoin at all, unless certain people are successful at blocking progress with regards to scalability. I do see how Ripple can make it easier to transfer national currencies.
|
|
|
|
Is the bitcoin community radical enough to cut the US gov out? Like, if, says, the gov attempts to forbid bitcoin, or create unreasonable restrictions?
I expect the restrictions will have the same effect the laws in Argentina have on the unofficial exchange rate. |
|
|
|
An optimistic view of things. Perhaps, once the financial industry learns that Bitcoin has no printing-press, no fiat safety net, they'll be more prudent with their client investments. But personally, I feel like it'll be hard for financial professionals who have used fiat all their lives to really adjust to that mindset, and until they do, they'll be just as reckless as always.
I suppose we'll just have to see. Just remember to never let anyone else hold on to your bitcoins for you and you'll be come out of it better off than those clients. |
|
|
|
|
Each video is better than the last.
|
|
|
|
We would like to. ACH is so reversible that it's understandable why no one in Bitcoin wants to use it.
I believe Coinbase offers it successfully. The only problem is they can only do pulls, not pushes (I think it would require additional licensing in order to accept push deposits). The day that I can have my paychecks directly deposited in to a trading account is the day that I will close my bank account. Literally the only reason I have one now is to accept my paychecks and hold on to them until the Coinbase pull comes through. It would be great to skip the middleman. |
|
|
|
Then I saw the amount of people downloading the Bitcoin client on Sourceforge. It's too soon to say the two are related, especially since an important upgrade was just announced today after a well-publicized issue with the old version. |
|
|
|
I would say a pile of gold coins is pretty safe as well. It's not possible to memorize a pile of gold coins. |
|
|
|
|
Show Posts
