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Any mention of Bitcoin at ZH helps. The comments show that the ZH public is very well aware of the concept. Any movement towards liberty is a good movement, they regularly state.
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Actually, I think we should not draw a line that relates to 'visibility' over a graph that relates to 'price'. The described cycle has more to do with development and spreading of new technology than the price of controlling a single Bitcoin in the blockchain.
Bitcoin still has some years to go through before getting mainstream.
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Have you given it some thought yourself?
If all things remain equal, halving the production of BTC against the same demand would necessarily lead to higher prices. Under that assumption, that would be my prediction.
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For people seriously interested in this subject, Steve Keen has done a lot of work on dynamic nonlinear economics. Steve Keen is an embarrassment. He is a joke. He wants the government to give a debt jubilee to deadbeats in debt. While you can disagree with his proposed solutions for the debt-crisis, that does not take away his awesome work in explaining the current system of 'lending before reserves' and similar topics. I can be thousands of persons, combined in one single physical body. Let's approach Keen's work the same way - on its merits. |
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I once read a book that looked at geological aspects of the world compared to the most prosperous economies. In essence, a central theme of the book is that, for instance, Europa has the advantage of lots of rain and benign winters, and therefore had an advantage over rougher area's in the world. I really recommend it if you want food for thought on this topic. The Wealth and Poverty of Nations: Why Some Are So Rich and Some So Poor |
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B2 looks the best (simple and also very well recognizable as small icon).
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You need central bank intervention to maintain stable prices.
It is probably what the ECB meant, but that is not how it works in real life. The proper sentence would read: "The last thing you need in order to maintain stable prices is central bank intervention." Hello 'loose monetary policy' bubbles  |
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Ze lepelen gewoon kort de inhoud van het ECB stuk op. Daar zit m.i. geen negatieve ondertoon in.
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That's why it's possible that people actually think we might be telling them lies: our facts are complicated. And, well, to be honest: "It's very very very astronomically unlikely that someone accidentally finds the same key" is a shitty fact to tell someone in a conversation [..]
Actually, somebody on this board explained it as a chance that is even billions less than that (i) you life for 80 years, (ii) from the moment of your birth, lightning strikes your head 200 billion times per second (iii) for the rest of your entire life. He got the numbers behind it and it makes completely clear how small that chance is. I cannot find that thread just now |
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In my experience, there is a growing Android user base that would fit the 'Apple' category just nicely. Being: it should work and be a little fancy. Not users that would want to run Windows XP on their phone with Bochs or Ubuntu in dual boot So regardless of the user-flavor, Bitcoin software should move towards usability and a good interface. From that perspective, the windows Bitcoin client is gruesome with long loading times, the blockchain seems not update-able unless you have 3 weeks to incremental update when a mere 100 days behind, and your HDD seems to die in the process (at least, it sounds as if it is dying). What a difference with the simple BitcoinSpinner app for Android. Simple, fast and more or less 'instant payment' (if payment is made, the system announces a payment coming in). That's the way an average user would want to work with Bitcoin (and so do I). Of course, the main difference from the official client is that the Android app relies (as I understand) on a server to get blockchain information. Nevertheless, mobile appz are showing the way forward. *Instant payment (most payments will probably not be tampered with) *Virtually no fees *Nobody can stop you Add the properties very interesting for the second/third world *No bank account needed *Again, virtually no fees And for the people that frown upon fiat and central control *Limited supply/store of value/no fraud *Free from interference by government/monopoly Depending on the user's interest in technique and society, you would have to focus on these aspects of Bitcoin. |
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Frankly, I await Giga-networking and superfast SSD's before thinking about Bitcoin taking off. Just started an official client that needed catchin' up (like 100 days). Result: PC freezed and HDD is fighting for its life. No ordinary user would ever touch Bitcoin this way and I cannot recommend it to my mom  Ultimately, I think the Bitcoin will require more time before taking off. |
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Fuck the retard masses, they can get with the program or starve.
Dog eat dog world. |
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So where was the part already about Bitcoins reaching $1,000 a piece? |
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It would be helpful if you would share your own thoughs on this topic. Of course, a lot has already been covered by Ray Kurtzweil in his well known book: The Singularity is Near (2005). I liked the book very much, but the collection of his single articles from round about 2003 is better. In essence, I am very interested to see whether any of Ray's thoughts come into existence. However, I get the feeling that it is more a wish to have a 'Jetsons' world within 30 years than that it is based on reality. Yes, computers and software will greatly improve in speed and power. Yes, so many things have accelerated over time. But we need to take one vital element into account: human nature. And we humans do not take change very easy. Secondly, nature can be delicate and brisk. I would consider us extremely lucky to reach singularity before we unleash something that will wreak nature's wrath   |
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A more direct approach would be to envisage that one party issuing USD as 'debt' has a big claim on the asset side of the balance sheet, while the holders of USD have a big liability on the liabilities side of the balance sheet (but spread out over millions of balance sheets).
BTC is no one's debt.
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Now think about it this way. You live in a small town that uses bitcoin after the 21M cap has been reached. The town's population is growing, but chasing the same 21M bitcoins. Now the $100 in your savings account is worth $105. You no longer invest in the risky bank because you don't need to fight inflation. The only people investing in the bank expect a decent return on top of inflation. Now it is more difficult to purchase a new car, house, or start a new business. This causes the amount of debt per person plummet. People are no longer working to pay off their mortgages or car payments. Salesman, bankers, & corrupt government officials aren't making a killing while the rest of us suffer.
A sligtly different approach: Now think about it this way. You live in a small town that uses bitcoin after the 21M cap has been reached. The town's population is growing, but chasing the same 21M bitcoins. Now the $100 in your savings account is worth $105, as is the $100 held by any other town man. You and other town people will only invest in the risky bank insofar the investments are sound and have a reasonable perspective on a decent profit (e.g., that there will be demand for it). Now it is less difficult to purchase a new car or house due to lower prices, but lending money (e.g., to start a new business) will be more difficult (higher interest rate). This causes the amount of debt per person plummet. People are no longer working to pay off their mortgages or car payments and are no longer bitten due to stealth theft by inflation. The benefits of increases in productivity and inventions are spread out over the entire community because of increased purchasing power of everyone's bitcoins. |
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Total money supply (including credit) stands at around 60-70 trillion USD. Given that most money exists only as electric digits nowadays with around 3% left as cash (coins and bank notes), that would render an amount of 1.8 trillion in cash.
And yes, Bitcoin can reach 1 billioin USD, depending on a whole lot of things (not in the least: human nature).
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I am happy to make a Dutch translation for the app. Where can I get the relevant source material for translation?
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Bitcoin got a lot of meaningful press in October. That also serves to sharpen the mind on Bitcoin's future potential as debt free "money". If you are in a hurry, I suggest you turn your attention to penny stocks.
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