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Simple e mail sending
Google search
youtube stream
Facebook
WhatsApp postings
Skype / voip
Java
Ubuntu
....
All that is fee-free (in principal) and so a big success .
So Bitcoin trx, the major use case, needs to be free (") as well or Bitcoin is not successfull.
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Case is clear
You buy a bunch of btc on an exchange but are not able to transfer to some safe wallet because of the 1MB limit and full blocks, despite you payed some 'reasonable' fee.
In the meantime the exchange gets goxed and it's gone.
So who is really responsible for that case and might get sued?
Sure you can start argue you know this new limitation and risk beforehand, but huuuu....
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I d do so if I work for such a service provider like WU , paypal or even settlement services, FX traders ... any others?
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Big banks (an other big corps like GE, car industry) might use the ETH project just for sake of getting a cheap live proof if smart contracts (on PoS) might work or not. How other they could gather any proper information on if this might work at all? So they just 'fuel' this a bit for a given time and some limited money in the open source world, also find some little nice pseudo use cases like slockit, identity, ?.. And later, they will just fork / copy the code for some closed intra company use. This stuff here again proofs, the big ones will not go on public ledgers in near time: http://www.coindesk.com/imagining-the-role-of-blockchain-in-financial-services/So is the initial public ICO just a faik and now we see some big coprs pumping for a time, because initially this was planned top down? Big live experiment? |
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In order to better secure a big chunks of BTC, I'd say it should be a good idea to check your own wealth by running
1. your own node, with some software on top that very regular checks if your stake is still yours (big business like exchanges are hopefully doing that, correct?). Costs of that is minimal.
2. ... ? I can only think of running a big mining pool (5-10% of hashpool might be ok) is the most secure way of keeping things yours, but that is most expensive Option, but could also pay back, if you can get cheap Power!
Is there sth. else one could do?
I was just thinking about getting around the decentralisation issue by bringing in 'big' players and really with point 2. AND big money the system gets safer and shared better (than just right now, where about 60% of mining power is concentrated).
If just 10-20 big players (home offices, Magnetes, ...) would do so - each separately- BTC would do really well.
Anyone can calculate what minimum cash (buy Miners) would be needed for ensuring all that?
Next, who might be those big ones?
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If I understand it right, new Casper design is based on betting and unlucky miners might end up in loosing money, not earning as usually expected. So without a proper risk management your wealth (coins) is really exposed?
And if so, who really wants to do that?
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Just wondering about that (maybe this was already discussed than pls ignore):
Would it be possible and make sense to correlate the recommended hashrate to the actual transaction count in the que, so that it will enable to create blocks faster in times of high volume and makes it impossible to mine empty blocks?
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Just some potential show-stoppers here:
Too less known & distributed yet
Too techy
Market risks - high volatility
Operational risks - safe ?
Legal risks
Too less pressure (FIAT, Paypal,... still fine) / no business case
Setup costs
Do not know payments are not revertible / would save a lot of hunting costs
KYC...
Some other ideas and / or contra arguments?
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FIAT is designed to lose value by time and end up in massive inflation, so it's fragile and WILL disapear by Black Swan.
Bitcoin looks like the very opposite to me and must hype. (Anti - Black Swan )
N Taleb says you only need to invest less than 10% into the Anti-Fragile and start the waiting game at the very bar bell...
Anybody agree ? Did I get sth. wrong? When comes the Swan ?
I'd just to think of all BTC price predictions made in FIAT, so BTC = 1000000 USD is very real with that. (In Zimbabwe Dollar we reached by far)
-> This is no invstement advice! Any yes - I've skin in the game. - Thanks Nassim!
-> I like also his comments about the Doers vs. Talkers....
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According to what one of the goals of bitcoin should be - decentralize also the wealth, do you think that's happening?
Maybe based on breaking some threashold by price, marked cap or account number ?
I'd do that :-)
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