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The producer asked if he could use some of my footage of operating a bitcoin ATM a few months back. I donated them the footage for free.
I hope the production is good and I can't wait to watch it!
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Bitcoin being used as a national currency would be a very interesting experiment. I think it would be interesting to see how it would affect everyday life living in a nation that exclusively uses Bitcoin. In my opinion, it would be useful and very cool if it were possible to go to an everyday grocery store and pay for your groceries with Bitcoin, instead of cash.
The people who are in oppose of bitcoins would surely die without food if this is the situation in the coming years where you can buy your stuff by paying bitcoins. And if it becomes mandatory even they have to buy anything using bitcoins.Even if they don't like it. No they won't lol. When a country in EU had it's own currency and changed to €, people just came into their banks and exchanges and changed their currency for €, everything that wasn't changed for a new currency was worth nothing. The same thing can be done with BTC. A hybrid of bitcoin and cash is still the ideal. |
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Absolutely no way something like that would work with Bitcoin in it's current form. Can you imagine a whole economy trying to adjust to Bitcoin's whims every few minutes? Plus interfacing with the rest of the world would be near impossible, like trying to force an HDMI connector into an AV socket  Why do you think this? Can you please explain it to me, why won't it work good? I can't really see any problem if I don't mind about banks that can't control it.. 2. Satoshi owns more than 1,000,000 BTC, can you imagine what would happen if he decided to dump? You assume Satoshi owns 1 million btc, which is hard to believe. He wasn't the only miner back then. It was insanely easy to get a ton of coins mined in a very short time. The value back then was barely worth mentioning; $1 would buy you over 1000 bitcoins. Living with the fear of seeing these potentially "lost" coins being dumped at once is not the way to go. Less than 100 people owns most of the bitcoins. The bitcoins in circulation is just scraps. Sathoshi is not the only one to hold way to many btc to make btc trustworthy as a real currency. This is bitcoin's biggest flaw overall. It is for this reason why it could not be adopted as a national currency. It is not equal. This is incredibly ridiculous. Since when fiats are equal?  Wealth distribution in dollar alone is insanely unequal, but guess what, it's a scam, and BTC isn't, because BTC has a fixed supply, and people that bought early on took a huge risk by buying something worthless, so they deserve the wealth, unlike the masters of the dollar that keep printing fake money out of thin air. Currencies will never be equal unless you want communism, and with BTC we get a fair system. Unequal distribution isn't unfair in BTC. Yes I agree that the distribution of dollars is unequal. I think there is a pyramid with bitcoin from hoarded coins when it was created. I would purport that a for a crypto currency to be implemented as a domestic currency it would need to replace the inequality of both the dollar and bitcoin. |
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Absolutely no way something like that would work with Bitcoin in it's current form. Can you imagine a whole economy trying to adjust to Bitcoin's whims every few minutes? Plus interfacing with the rest of the world would be near impossible, like trying to force an HDMI connector into an AV socket Why do you think this? Can you please explain it to me, why won't it work good? I can't really see any problem if I don't mind about banks that can't control it.. 2. Satoshi owns more than 1,000,000 BTC, can you imagine what would happen if he decided to dump? You assume Satoshi owns 1 million btc, which is hard to believe. He wasn't the only miner back then. It was insanely easy to get a ton of coins mined in a very short time. The value back then was barely worth mentioning; $1 would buy you over 1000 bitcoins. Living with the fear of seeing these potentially "lost" coins being dumped at once is not the way to go. Less than 100 people owns most of the bitcoins. The bitcoins in circulation is just scraps. Sathoshi is not the only one to hold way to many btc to make btc trustworthy as a real currency. This is bitcoin's biggest flaw overall. It is for this reason why it could not be adopted as a national currency. It is not equal. |
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This is very interesting and would really help save costs to both parties involved in the transfer of domains. Running ethereum could also work.
I'm going to ICANN 54 in Dublin if anyone from the bitcoin community is going let me know. It might be worth putting together a group of brilliant minds and bring forward proposals there.
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I dont really understand this to be honest. Will decentralized p2p exchanges like this allow for tons of transactions per second like it happens in centralized exchanges like the usual Poloniex, Cryptsy ones etc? because we need tons of transactions to do day trading if you are into that.
Otherwise exchanges like this will only be useful for the occasional buy of BTC, just like LocalBitcoins.
Some people use platforms like localbitcoins.com a lot though and their substantial amount of trading is on that because P2P trading can still be digital and fast. So the demand for a decentralised marketplace is there. I do agree that for large trades online then major exchanges are more appealing but P2P trading is still popular. |
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This can work but bitcoin is too volatile.
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The State of Bitcoin Q2 revealed that merchant adoption has been slow this year. Perhaps a reason for this is the ambiguity over the regulation of btc payments. I think with more time the market will be trialed and tested and more business will eventually begin to feel comfortable accepting the currency in their business.
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Dear Bitcoin users, I am conducting a survey as part of my thesis at the Humboldt University of Berlin and I need your thoughts and opinions regarding anonymity in Bitcoin. Completing the questionnaire will take about 10 minutes of your time. If you are interested in the results of the survey, please state your email-address on the last page. Of course your email-address will only be used to inform you about the research findings. All data will be treated as highly confidential and anonymously stored. http://www.unipark.de/uc/BITCOIN/66b7/ I would be glad about your participation! Ulrike Sander Done. Good luck with your research. |
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When you consider that the likes of BitPesa charge up to 7% you realise the existing means for trading in bitcoin is insufficient at replacing Western Union (which has about 15% fees). An exchange needs to be halved again to around 3.5% maximum for it to claim to be cheaper than Western Union and banks.
So bitcoin has the potential to replace Western Union, there must be cheaper and easier ways for people to access and use bitcoin in certain regions including Africa.
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The potential for bitcoin is certainly worth more than what price is represented on the charts. Bitcoin allows for person to person banking which is huge for countries where the central banks have failed.
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Hey bomberb,
There is another master of science in digitial currency in the university of Nicosia in Cyprus. Also checkout MIT, Harvard and UCL as they all have some modules in bitcoin but no courses.
As for work, I would look into the application of blockchain technology to help broaden your job hunt. Here you'll find a whole range of tech companies and banks that are using this technology and you could perhaps get a job there. The colleges I mention would be helpful for you seeking these jobs.
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Adoption for bitcoin and other crypto currencies is only inevitable and it is coming within a few years.
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For a crypto currency to work as a national currency, there would have to be a weak power held by the central bank. Otherwise regulations will not make it permissible to carry the convenience of a crypto currency.
Secondly bitcoin is too volatile to become adopted as a primary currency by a nation. Perhaps a dual-currency but even then it would have to be hedged to prevent volatility.
Greece would have made for an interesting experiment had it exited from the euro.
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