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Why? So they could reduce their transaction costs and time.
Banking transactions take roughly (ping time) + (time to update a database) = less than a second. When I buy shit with a CC, it takes me anywhere from 3 to 20 seconds before I leave the checkout. Bitcoin? The cost of a fiat transaction is a few pennies. Bitcoin? Currently $373 * 25BTC / 2.7tps * (600sec per block) = ~$5.75 + tx fee, per fucking transaction. You don't pay it because it's currently subsidized by Bitcoin base money inflation, i.e. printing 25 bitcoins out of thin air every 10 minutes. So now you know. I cashed a cheque last week. It took over 3 business days to clear. ORLY? I tried to cash out some BTC from Cryptsy. Guess how long that's taking? No, the point you tried to argue is that banking is almost instantaneous. I refute that. That said I can see from your curt replies that you enjoy muddying the water. No. I said banking transactions are almost instantaneous. In some cases, like with your 20th-century anachronism, the paper check, banks *choose* not to credit your account for security reasons. My bank, for instance, clears the business checks I deposit instantly (not really sure tho, haven't been living hand-to-mouth lately, perhaps because have been out of BTC for >2 years. Feelsgoodman.gif). |
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Negative interest rates for all of you greedy people trying to make a savings!
Is this not just the case with any business that has a monoply on things?
Could argue google and apple do not follow this but they either buy a idea or kill the idea mostly before it can grow.
So expecting a bank to do anything but screw us would be like dancing on a busy highway and not expecting to be hit by a car.
Google car would dodge maybe,might go see what the stats say on that.
Ever wonder why children on My Little Pony forums manage to form coherent sentences, and even spell and punctuate those correctly? And why here, on bitcointalk, that sort of thing hardly ever happens? Yeah, me neither. Nope, I don't frequent MLP forums. >not My Little Pony >MLP  |
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Why? So they could reduce their transaction costs and time.
Banking transactions take roughly (ping time) + (time to update a database) = less than a second. When I buy shit with a CC, it takes me anywhere from 3 to 20 seconds before I leave the checkout. Bitcoin? The cost of a fiat transaction is a few pennies. Bitcoin? Currently $373 * 25BTC / 2.7tps * (600sec per block) = ~$5.75 + tx fee, per fucking transaction. You don't pay it because it's currently subsidized by Bitcoin base money inflation, i.e. printing 25 bitcoins out of thin air every 10 minutes. So now you know. I cashed a cheque last week. It took over 3 business days to clear. ORLY? I tried to cash out some BTC from Cryptsy. Guess how long that's taking? |
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Will follow you down this rabbit hole even though I did not make the comparison. If banks push negative interest rates,which 9 countries so far have gone down the route and others are adding options into the rates,then potentially bitcoin would rally.
Only one country is implementing negative interest rates, "Japan’s new negative interest rate, minus 0.1 percent, will take effect on Feb. 16. It will be assessed only on balances that commercial banks deposit at the central bank in excess of regulatory minimums."TL;DR: POINT ONE PERCENT. NOT ON YOUR CHECKING ACCOUNT. You could make a profit either way by speculating against my theory or following it. The pattern you are using would not come into play,as people would either ignore bitcoin all together or run to it. In a situation like this I do not see it going up and down in a state of mass confusion.
People would be pulling out of the banks and hitting the mattress or they would be looking for alternatives.
People with money don't keep it in banks. They *invest it*, aka "put it to work for them." Think of your bank as your hot wallet -- bill-paying, walkin' 'round money, ATM access for folding money -- to tip/buy drugs with. When shit gets hairy, rich people don't pull money out of banks & stick it in the first ponzi du jour because "ZOMG, .1% per annum!!!1!" No. They'd rather drink from the dick of a goat. Now you know. |
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Bitcoin: bleeding since 2015(TM)
What a awful year... and seems to go worse
yea I really would like to know how how the the regular investor who bought before Christmas at the high right before the first big drop and see the value go for almost 2 months constantly now. Looking not so pretty anymore.. mhh Meh. Bitcoiners will be just fine. We're smarter than people. |
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Negative interest rates for all of you greedy people trying to make a savings!
What's the interest rate you get on your bitcoin deposits? Context. If you had a point to follow this,then by all means let me know. My bank doesn't charge me negative interest rates, actually pays me interest, I get *paid* (via discounts) for using my CC, which, in turn, lends me money, for free, for a month. Bitcoin? Negative interest rates are being set up around the world or being added as a fail safe if the markets go haywire. More countries are moving towards this or at least adding it to the writing. So in context of banking,this is what I am referring to and not making a comparison to bitcoin. Bitcoin not having a negative interest is just another bonus down the road. If you are Canadian they just passed the negative interest rate as potential feature if the markets dictate it is needed. Forget which country just went into negative interest rates to potentially spur the ecomomy from saving and spending more to push the economy forward. Most likely come to me after posting and believe it was Japan,but could be wrong. Please understand that your understanding of economics is actually *worse* than your grammar. When 1BTC was worth $430 a month ago and is now worth $373, saying that Bitcoin has no negative interest rate is meaningless. Again you have gone off on a tangent to make a point. Negative interest rates are coming in the banking world. So if you talk about bitcoin you would also relate it to the future as well. Therefore you can not compare the two in the manner you are presenting. Besides it was not the point of my post. Look, first stop getting your news from stormfront.org zerohedge, bitcointalk & the like. The only bank to adopt negative interest rate, AFAIK, is BoJ (minus 0.1 percent, lol), and this doesn't mean that non-business accounts will be affected. But even if banks do adopt negative interest rates, why would I want to keep my money in BTC, which gets debased faster, and might not even be here a year from now? You know what else doesn't have negative interest rates? BTCeanie BTCabies. |
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Negative interest rates for all of you greedy people trying to make a savings!
What's the interest rate you get on your bitcoin deposits? Context. If you had a point to follow this,then by all means let me know. My bank doesn't charge me negative interest rates, actually pays me interest, I get *paid* (via discounts) for using my CC, which, in turn, lends me money, for free, for a month. Bitcoin? Negative interest rates are being set up around the world or being added as a fail safe if the markets go haywire. More countries are moving towards this or at least adding it to the writing. So in context of banking,this is what I am referring to and not making a comparison to bitcoin. Bitcoin not having a negative interest is just another bonus down the road. If you are Canadian they just passed the negative interest rate as potential feature if the markets dictate it is needed. Forget which country just went into negative interest rates to potentially spur the ecomomy from saving and spending more to push the economy forward. Most likely come to me after posting and believe it was Japan,but could be wrong. Your understanding of economics is actually *worse* than your grammar. When 1BTC was worth $430 a month ago and is now worth $373, saying that Bitcoin has no negative interest rate is meaningless. |
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Negative interest rates for all of you greedy people trying to make a savings!
What's the interest rate you get on your bitcoin deposits? Context. If you had a point to follow this,then by all means let me know. My bank doesn't charge me negative interest rates, actually pays me interest, I get *paid* (via discounts) for using my CC, which, in turn, lends me money, for free, for a month. Bitcoin? Re. "bronies": *bronnies Not singling you out, you really blend on bitcointalk. |
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Negative interest rates for all of you greedy people trying to make a savings!
Is this not just the case with any business that has a monoply on things?
Could argue google and apple do not follow this but they either buy a idea or kill the idea mostly before it can grow.
So expecting a bank to do anything but screw us would be like dancing on a busy highway and not expecting to be hit by a car.
Google car would dodge maybe,might go see what the stats say on that.
Ever wonder why children on My Little Pony forums manage to form coherent sentences, and even spell and punctuate those correctly? And why here, on bitcointalk, that sort of thing hardly ever happens? Yeah, me neither. |
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Why? So they could reduce their transaction costs and time.
Banking transactions take roughly (ping time) + (time to update a database) = less than a second. When I buy shit with a CC, it takes me anywhere from 3 to 20 seconds before I leave the checkout. Bitcoin? The cost of a fiat transaction is a few pennies. Bitcoin? Currently $373 * 25BTC / 2.7tps * (600sec per block) = ~$5.75 + tx fee, per fucking transaction. You don't pay it because it's currently subsidized by Bitcoin base money inflation, i.e. printing 25 bitcoins out of thin air every 10 minutes. So now you know. |
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ATM (almost) everyone on that list in addition to the remaining industry.
I couldn't resist. (let me get down on your level) |
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Yeah I agree with you , bitcoin is best financial for criminal activity.  If you know in deep web many criminal activity using bitcoin like kill someone , sell weapon and drugs.  Which isn't very smart, IMO. If they know how to get around tor and know how to manipulate their IP address so it would be impossible for anyone to track their location, that's one thing... but if they buy bitcoins using exchanges such as bitstamp, or worse, something like coinbase; then they could be potentially screwed because of the fact that your purchase can potentially be traced back to your bank account, and therefore your identity. That's why we have mixers, dice sites, altcoin exchanges, and local bitcoin -- for the criminal in teh know  Forest friends! Bambi lost his bitcoins in the blockchain public ledger, and also his Dad. Can you help? Spot the woodland critter who don't belong!  jk, Bitcoin's a honeypot. |
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What happened to all the so called technological wizards who work in the banking industry? The financial sector often boasts that it only employs the best of the best, so that said, why didn't one person within that sector design, develop and conceive an electronic cash or distributed ledger system? What have all these technological wizards been doing within the banking industry all these years?
An equally probing question would be "why haven't they created a currency based on BTCeanie BTCabies?" The answer would not be much different: "Because that would be stupid. "Distributed ledger" is used in banking. It's called a frickin' DATABASE. But you probably mean "satoshi's blockchain, a TRUSTLESS distributed ledger, secured by POW, i.e. turning electricity into heat." If that's what you mean, banks don't use it because it is one of the most inefficient databases there is." If you have any other questions, please do not hesitate to ask. |
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Worse still 25% of the initial network is 100% of the other forked network!
100% of small blockers! This is patently unfair, the 100% not being allowed to* carry on mining small blocks.
(*by not being allowed to, I mean "being allowed to but it's just not fair")
Depending on the time that the fork would occur (between difficulty adjustments) you could say that they aren't allowed to. The chain becomes rendered useless for a longer time because of the other majority. It is clear that we can't get everyone on board on a single proposal (and thus 100% consensus is impossible), but nobody sane would recommend a split. Essentially the people behind the fork do not care much about the whole industry and especially not about the users, they just want to take over.
I.e. "not rational actors pursuing enlightened self-interest, the possibility of which Bitcoin failed to take into account." |
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Right in a way, I always think CreditCards is the most dangerous online payment method, You actually leave all the balance in every site you fill the details in. BTC needs some care just from you on your computer security etc...
Dangerous to who? Certainly not to you, because *chargeback*. With Bitcoin? Fat-finger an extra digit? Send to the wrong address? Get hacked? Ur monyz b gone  |
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OP you have asked a very difficult question here. The best course of action is no longer questioning the community in general but rather asking specific and reputable members in particular. You might ask yourself why this is. Essentially you will get (you already have) shills posting for their own respective sides. 'shills' as in people who don't make technical arguments but rather make baseless accusations and whatnot. Currently there are two major options: 1. Bitcoin Core 2. Bitcoin Classic (the fork)
There are two proposals for the short term on increasing the transaction capacity: 1. Core - Segwit 2. Classic - 2 MB blocks. Now both proposals have some negatives to them (we could discuss this, but you could look up some other threads), but 2 MB blocks have no benefits aside from the increased transaction capacity, the very issue it proposes to solve. Segwit on the other hand fixes other important things such as transaction malleability, but does it in a way Rube Goldberg would have been proud of, and it's not ready yet.
The main problem here isn't the proposal but it is the fork itself. A successful hard fork needs to have a lot of consensus, though it's best to leave the term consensus undefined, because, according to wikip,
"The level of agreement necessary to finalize a decision is known as a decision rule.[3][7] Possible decision rules for consensus vary within the following range:
Unanimous agreement
Unanimous consent (See agreement vs consent below)
Unanimous agreement minus one vote or two votes
Unanimous consent minus one vote or two votes
Super majority thresholds (90%, 80%, 75%, two-thirds, and 60% are common).
Simple majority
Executive committee decides
Person-in-charge decides"
This is written in a fairy objective way and contains no bias. Anything that was written should be correct. +1 +1, with a few corrections. |
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Meanwhile, back at the ranch...  Can't you provide anything useful? Almost every decent coin is down by a similar amount. So what is your point?
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You mean like... The fiat crypto implosion has started.  |
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^^  Thanks for making Mr. Godwin cry  |
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Meanwhile, back at the ranch... |
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