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The goal is to have Bitcoin and crypto as a currency, where everybody has access to, easily cheaply transfer and transact,... etc.
The current situation and problems in my opinion:
1- it is still require users or adopters to be above average in IT, know what a qr code is, private and public address, the 12 word Fraser for a wallet... etc. This will be sorted out as time passes, but developers should try make things easier and simpler.
2- transaction cost, sending a crypto from someone to another, it is relatively high, so not still convenient to buy a bottle of water or a pizza and it costs the same amount to pay the seller. This simply means the buyer would pay double the price. So, still not convenient as a currency compared to FIAT.
I wonder if this can be sorted out as follows:
All wallets should have a feature like “Ok, this public address is sending to this public address 0.05 USD, let me send with it a private key for this transaction for this amount in particular. Sending through whatever communication, Bluetooth, WiFi, nfc, Sms, whatever. No need for blockchain and mining fees.
Maybe (and here I expect some miners to try to shoot me), maybe we can use wallets already running on thousands of individual mobile phones to do the job of verification. Everybody in the individual users wins. Almost instant, no transaction cost, so it will be convenient to buy a bottle of water with bitcoins.
The receivers wallet may take the senders public address and check it on the blockchain, if it really exists, if it really has the amount transferred. If true, it makes one entry with one single confirmation.
3- till now, Bitcoins and other cryptos appears to me not as currency but as a bullion of gold, a bullion of silver, a bullion of platinum, an ingot of aluminium. It costs money to buy and keep, and it costs money to spend.
4- There should be a way that different blockchains and crypto can “talk” together seamlessly, as in point 2 above, someone having bitcoin in his wallet should be able to send to the receiver directly another crypto, no need for any of them to convert from one crypto to the other. Direct wallet to wallet.
Transfer costs should be minimised to be almost zero, transaction speed should be instant. These two are considered a must to have crypto as currency, not as a bullion.
Hopefully I did not offend anybody, especially miners. Miners should think, what profit would be if the world is actually transacting in crypto.
I know many will see the above as nonsense, a few might see an idea, some might agree some might not.
But constructive discussion will always give the fruits.
1 - I agree, I think it will happen. It's inevitable that users must learn new concepts and terminology regardless. 2 - There are higher layer scaling methods which I believe will enable micropayments (currently best contenter is "Lightning Network"), will make bitcoin and other crypto fast & cheap, more importantly opens the gates for the "data economy" (access to live streaming data from sensors, video, server output data, A.I. output w/o AML and charge either by the second or by the byte). 3 - true and i think this is because of the volatility, uncertain future and cost for transactions, all of which will get solved 4 - YES, there are the beginnings of "atomic swaps" and not to mention this same mechanism can be utilized by various coins' lightning-like network, there can be a network system which enables what you describe, extremely cheap, fast, not only transactions but coin-coin trades, there are a number of examples done right over twitter as of recent between bitcoin, litecoin, decred, and some other coins. From my (not thorough) knowledge of secondary payment networks like Lightning Network, I'm confident that scaling is solvable. However something I'm more worried about is fungibility and unless bitcoin is easily fungible I don't think it will have the success many of us would like. Crypto w/o fungibility is way worse that fiat. |
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sweet, I can submit new cards! Been waiting on rare pepe's to allow more submissions but I guess I can submit rare pepe's here too? images/animated gifs 400x560 portrait right? Is there a fee for subsmission?
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Is this worth 0.100 bitcoin? How could I know before buying it?
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waiting for a dip is dangerous, the value of bitcoin has explosive potential, we are still before any major ETF is released, the price will never recover from the next few bubbles. buy now what you can afford (and accordingly to your understanding of bitcoin, dont take my word on it!)
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I'm on reddit a lot. /r/bitcoin is less community driven and censored to all hell, while the bickering on /r/btc is headache-inducing. So I've humbly created the correctly spelled /r/bitconi subreddit aimed at being like something in-between: unbiased. Honestly I'm unsure the direction it will take but I'm open for ideas and by being the first to join you can have the most interactive role! THE BTC GIVEAWAY: I will give 5000 bits to 8 random first posters to the subreddit as kick-starting fuel for the subreddit. There will not be any giveaways afterwords, this is just a starting thing! Do NOT post your address on the subreddit, I will contact you if your selected! I will provide proof of the selection being random if I can. Giveaway will be 1 week from this post. (That is, 8 randomly selected posters from now and 1 week from now). https://www.reddit.com/r/bitconi/I'm confused on this post. Based on what i understand i think its a subreddit for bitcoin aight? Some discussion will be discussed there? and Also the giveaways is it for the first 8 posters? or it will be picked through random.org and if the participants are less than 8? how does this work? all participants will get the giveaways or reschedule the deadline for the giveaway? Yes! and bitcoin-somewhat related, I'm thinking to not be too strict about that. Yes, the idea is that it is entirely discussion, although I'm open to changing that (allowing link-posts). Basically, when the week is up, I'll go through everyone who has posted/commented and pick 8 at random, give them 5000 bits each. Now how exactly I do that idk, random.org seems good, ill try to figure out a way that proves its random, or not, but it will be random. I think overall I'm trying to re-create the interactivty of /r/btc but without the overly biased hatred towards core, while carry the calmer nature of /r/bitcoin. I'm going to make the subreddit visually appealing, kind of like a bitconi lounge. Anyways just ongoing ideas, you can influence it just as much as me, what would you want to see there? |
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I'm on reddit a lot. /r/bitcoin is less community driven and censored to all hell, while the bickering on /r/btc is headache-inducing. So I've humbly created the correctly spelled /r/bitconi subreddit aimed at being like something in-between: unbiased. Honestly I'm unsure the direction it will take but I'm open for ideas and by being the first to join you can have the most interactive role! THE BTC GIVEAWAY: I will give 5000 bits to 8 random first posters to the subreddit as kick-starting fuel for the subreddit. There will not be any giveaways afterwords, this is just a starting thing! Do NOT post your address on the subreddit, I will contact you if your selected! I will provide proof of the selection being random if I can. Giveaway will be 1 week from this post. (That is, 8 randomly selected posters from now and 1 week from now). https://www.reddit.com/r/bitconi/ |
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A ban on Bitcoin is difficult to enforce
Bitcoin has no centre to attack. There is no single organisation or person that controls Bitcoin and transactions don't go through a central clearing house there is really no way a regulator can stop people from downloading Bitcoin wallets and sending each other bitcoins. If there we to block all the websites that people can download Bitcoin wallets from, new ones will come up and some people will compile their own wallets from source code - Bitcoin is like Bittorrent is that respect. If they shut down the internet, people will send each other Bitcoin via SMS and if they shut down the electricity supply, people will use solar and battery-powered solutions.
But of course it's also likely that a ban on Bitcoin in a country can have a negative effect on adoption in that country.
Technically, sure, banning bitcoin would't have much of an affect, as it would basically be just them saying "your not allowed to". But at that point bitcoin users would become "black market" participants, and there could be a penalty if caught using owning/transacting coins. Yes that would involve open privacy violation but I wouldn't put that past them one bit, I can see bitcoin being the thing to push them past those limits. Most people avoid the black market, too much risk. |
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Governments fear Bitcoin since they may loose their revenue which they get from taxes.Bitcoin transactions are untraceable.Moreover, banks may force governments to ban Bitcoins as they also loose their income which they get through transactions.I dont think it would create a huge impact on Bitcoin.The world itself is moving towards digitalization.Rather, governments can regulate Bitcoin by certain laws instead of banning it.
sorry hate to be a nazi but bitcoin transactions are very traceable, hopefully in the near future we'll have fungibility though |
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I see some scrypt litecoin miners for sale and I'm wondering if you can switch them to mine any other scrypt-based altcoin also?
Thanks.
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Okay so, bitcoin is outright banned in some countries, so the banning of bitcoin is already a reality. The major government including Russia, China, and the USA (just to name a few) could also ban bitcoin and cryptocoins in general. My questions to you guys are: What do you think will happen to bitcoin? If any, what is your plan of action and what would you like to see from the community in terms of continuation and development? Bitcoin probably will never die but the banning of bitcoin could change the whole dynamics (let alone a temporary major price dip).
I'll give my thoughts first. I think bitcoin will grow and develop into what we want it to be regardless of the legal status. Fundamentally what bitcoin represents is anti-authoritarian and governments banning of it should not much of an impact fundamentally. Sure the price will suffer for at least a while although still climb "to the moon" probably, but as far as technical development and social spreading goes, I think that will continue. Unfortunately that could mean that it operates in the black market only for a while which would slow things down but I do think that would be a temporary affect. I am curious though if the governments could have a strong enough desire to destroy bitcoin or prevent it from growing past a certain point, that they could actually do that. So I wonder what you guys' thoughts are.
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You would probably need a license for it . One thing that I have extensively read from fellow traders in the US, is that its hard to sell bitcoins without the license.I also don't expect you would get a serious and completely accurate reply on btctalk, so would suggest asking a lawyer rregarding this.
Right, do you have any idea where I could find lawyers knowledgable on bitcoin laws? |
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I'm wondering if I can open up a local shop and sell bitcoins for cash without paperwork or signing anything. Sure a bitcoin ATM can fulfill that role but as a shop I could do other things such as sell bitcoin merch etc, offer information on bitcoin and cryptos etc, but primarily I'm wondering if I can sell bitcoin for cash without hassling customers with paperwork. I suppose the laws would be the same for an ATM machine? which I haven't heard to be of a legal problem. I'd be considering doing this in Texas, USA, by the way. Any references or shared knowledge would be great, and I'm less interested in speculation. Thanks!
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I think you misunderstood my question. I know you can't modify exiting blockchains, I'm just talking about 'template code" for a cryptocoin. I'm not trying to fabricate my own ledger or make a copy of transactional history from other coin, really just template code for a new coin. I'm leaning on just writing it from scratch but I thought if there was a go-to reference code for such things (probably bitcoin but maybe others are simpler) I could use that.
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I would like to write my own cryptocoin, but instead of attempting to write it totally from scratch (should I?) I was thinking it might be easier to modify a pre-existing blockchain. If so, which is the simplest or perhaps the easiest to digest, and modify into a custom coin? Thanks.
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Immutability in a blockchain is there if the majority allows it. The majority voted for the hard fork to undo the catastrophe that the DAO became. Since the majority voted, ETH is the updated Ethereum chain. ETC is more of an eth-altcoin. Immutability was never broken because it was majority decision.
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I would like to develop my own cryptocoin on its own blockchain and I was wondering if there is a base template software or even just some developer tools to help. I don't have a problem building it from scratch but that would take significantly longer compared to using a pre-made template or even some software suite I'm not aware of, any suggestions? I know how to create custom tokens and contracts on top of ethereum for example but im interested in developing my own blockchain. Even a guide to do it from scratch would be useful. Thanks!
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Its fully anonymous in a decentralised way, integrated on protocol level and is optional.
It uses a thoroughly improved and adjusted CoinJoin to accomplish that.
Well that is quite impressive. Is there any other method of doing anonymous transactions currently? (Whether its a service on top of bitcoin or another cryptocoin which implements an anonymous feature) Also, why is it a seperate action in the protocol and not a standard (all transactions anonymous). |
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Anonymous transactions on a blockchain are a big deal and has been subject of research in the last few years, now DASH claims that its built-in mixing ability (darksend) is anonymous, I'm wondering how anonymous is it, say compared to a coin mixing service, which from my research is not actually that anonymous. Thanks for any info.
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Who are these idiots calling ethereum a scam lol
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Thanks for all the advice! I'm going to go through the links and see what I can add. The company is very technical since someone asked, and I know more than surface info on bitcoin, but not an expert any any particular aspect.
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