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bitcoinrevelacio
Well, might as well jump in. Nothing to loose anyway.
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I do not think it is wise to invest USD into BTC to make more USD. I think that people need to get into btc and use it as money. As time goes on and the user base grows I think it should be easier to be immersed in the economy. It will not stop the price from fluctuating, it will just make it less noticeable. You will still be able to tell if the price goes up and down over the years, but over the days it will probably not be noticed. The price of USD in terms of other currency constantly fluctuates, but it is not a concern for most people.
So, I don't think it needs to stabilize. We just need to be able to buy what we want with the btc we earn.
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In addition to the other comments you are less likely to notice changes in the value of currency if you are fully immersed in the economy. That is another problem with the bitcoin economy, it is hard to be fully immersed in the actual economy. The only way to solve that is as DeathAndTaxes said: More adoption, more services, and more merchants.
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We talked about it after the show, he didn't know the specifics.
Did he give any nonspecific information not mentioned in the show? |
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Funny, I was under the impression that I am 100% correct, oh well..
Well, I suppose you are practically correct, but I was just clarifying that they were not worthy because of trust issues. Not because they were slaves. No pensioner has lost his life savings yet but I think it would be incredibly tragic if it did happen, e.g. one of the old folks hears about this new wonderful technology and decides to try to use it, in the end loosing his private key and ultimately blaming the Bitcoin economy for losing all his savings, you can't really blame the pensioner so the only one to blame in this equation is the Bitcoin economy. Kinda similar to how a bulimic dies from dnp and her parents call on banning the substance altogether, because clearly you can't shift the blame on a young female suffering from a mental illness or teenagers jumping from bridges on shrooms or acid and then they criminalize a whole substance because of it. Okay, sorry for the confusion. I see what you are saying now. Unfortunately many events play out that way. Many people think they are perfect and so are the people they love. I suppose the only defense against that is properly educating people about bitcoins. P.S. the link should be Kinda similar to how a bulimic dies from dnp (you had an extra http:// and "") okay i hate to be that guy but they couldn't get the weapons from the US to go in and kill the people who were already there. they waited 40 years for the foreign aid to arrive, got tired of waiting, sharpened up some spears and as they say the rest is history
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The thought of a pensioner loosing his life savings after getting his account sabotaged gives me the cringes, also reminds me of how Moses has led the Jewish people in the desert for 40 years because he claimed God has wanted the generation of slaves to die off because they were not worthy of laying their eyes upon the land of Israel, kinda like the situation we're currently in, ironically.
Okay, I hate to be "that guy", but I have to correct your Bible history. <biblethumpingrant> God made them roam the desert for 40 years because they did not trust Him. Despite the fact God performed many miracles such as crossing the Red Sea and providing food. They were afraid to take the land because they did not believe they were capable. They didn't believe God would help them, so God said fine I won't, keep roaming the desert. It had nothing to do with them being slaves. </biblethumpingrant> Now to what you was actually talking about (on topic). Did I miss something about a pensioner loosing his life savings? I read the article, but I don't think that was in there. Would someone like to fill me in? |
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Does anybody really donate to any of the beggars on this forum (or anywhere for that matter)?
Unless there are people who are looking to give money to beggars, we do not need a separate board.
It seems more likely that someone would be looking to donate to a charity, so a separate board may be appropriate. However, my only fear is an increased portion of scams. Charities would need to be verified as trustworthy somehow.
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Technically, you don't have to include any transaction fees. However, it is a good practice and is default in most wallets. The fees will provide an incentive for the miners to keep working once the amount of btc they create lowers. Frankly, the fees are low enough that they shouldn't hurt any transactions that will make a difference in the bitcoin economy.
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Not exactly. What I had in mind was its value tied to gold for stability, not directly backed by it.
That could be achieved by controlling the supply instead of haphazard mining.
How do you tie the value of a cryptocurrency into the value of gold without directly backing it? Would you somehow have the current amount of known gold tied to the current amount of currency. or Would you somehow have the current price of gold tied to the current price of the currency. or Would the current price of gold change how much of the currency is mined.  Sorry, I am thinking out loud hoping I will hit upon what you are thinking. Honestly, I am slightly confused. |
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The system still isn't fully decentralized, though. If it was, there would need to be a sort of distributed peer tracker(akin to torrent DHT). Still, there's no true way to bootstrap without a seed node unless one were to try scanning the entire IPv4 internet for nodes.
Well if I am understanding this correctly you do not have to go through the nodes listed in the source code. You can easily specify a different node. This list of nodes however makes it easier for new users to get connected by having several connections ready to connect to. From what I understand it is still completely decentralized. You do not have to use bitcoin-qt. There are other wallets. Therefore, if you think bitcoin-qt is promoting a bad blockchain, then you use a different client. If you think a certain node is promoting a bad blockchain you can specify to connect to a different node. However, there is no reason to think that any of the nodes or bitcoin-qt are doing anything wrong so it is easier for simplicity. The moment someone discovers something is wrong, there will be a big outcry. Things will get fixed or worked around. I hope I got it right and it makes sense. Please, correct any mistakes. |
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Are you referring to a cryptocurrency backed by gold, or are you talking about exchanging cryptocurrency for gold. Check out this for a digital currency backed by gold. Having it backed by something means someone has to regulate it. Unless some genius can figure out how not to. I am not aware of how that would be possible. https://en.wikipedia.org/wiki/E-goldtl;dr it got shutdown For ways to buy gold. I have heard good and bad things about some, but a little research will turn up something. Do your research before sending bitcoins to anyone. Or did I miss the point? |
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To be able to transfer your bitcoins to another address, you will need your private key. You cannot do much of anything with a public key besides receive and view the amount of bitcoins you have (which is important, just not in this case). So unless you find your private key you cannot spend your bitcoins. So as far as I know, sorry.
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sure
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Since all transactions that occur must be in the blockchain, all blockexplorer has to do is to analyze the blockchain. Everybody who has a bitcoin wallet has access to the blockchain, blockexplorer just retrieves it and presents it in a readable way. So yes it should be accurate.
If I am wrong someone more knowledgeable will hopefully correct me, but I think I am right.
Edit: And yes it contains all transactions because the blockchain is a record of all transactions that take place with bitcoin.
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So, once a wallet connects to the nodes specified in the source code it receives a list of all other known nodes. Does the wallet save all of these addresses or does it just download them each time it connects? Downying seems to say that if all of the hardcoded nodes leave at once no one can connect? In other words the wallet does not save addresses. Is that accurate? |
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Hello all,
I have been watching and learning about bitcoin for a short while now. I think I understand the basics of bitcoin. However, I do not understand how my wallet (or anyone's for that matter) connects to the network. Is there a default list of connections that the wallet connects to? Or what is going on here?
For some reason this small part is really bugging me.
-bitcoinrevelacio
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