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As I said on various other posts, things like starbucks will accept 0 verifications. And if bigger shops work with BTc, either they wait a little, or have insurance that protects from double spending.
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I Can't quite find the source right now (a bit lazy), but there's an entire town in Chile that will only be workign with bitcoins as their currency. Lots of rich people bought a gigantic area and will work mainly with BTC as a form of payment. Read this on the news I believe a few weeks ago.
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BFL should start to be associated with the company VALVE. If anyone is familiar, there is a very well known term called "Valve time". When valve says "coming out in the next few weeks", it's not unknown to take over a year. Soon we'llb e working with BFL times  |
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I can make neither head nor tail of your "shorthand markup" column.
When at doubt, bet on TAIL. I believe that on certain coins, if you spin them on a table, there's up to an 80% chance of them landing tails, due to the fact that the head side is much heavier. So always bet on tails xD |
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Yes so easy that's why all the solutions exist in the Bitcoin ecosystem today, right? Please explain to me how your going to counter point #1, you in your boxers vs. Trillion dollar governments and world economies?
I can't even tell what point #1 _is_. Perhaps you might explain how the fact that 'big guys willing to use violence to stay in power' leads directly to 'bitcoin is doomed to fail'. The guy is pulling at strings. While this essay of his sure has an impressive word count, if he was to turn it into my literature class back in high school, he'd get a B- at best, for effort. |
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i am sure btc will evolve soon, and will be here even 100 yrs from now in some kind of shape
In some kind of shape, yes. But most likely it will be in the shape of another alt coin. But if it does survive and become THE cryto coin, and survives 100 years from now, only the most elite will own even 1 BTC by then. |
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I do think though that the price of the share could never go lower than when they come out. People will make a butt load of money on this ETF. Only bad thing could be a catosrophic event like loss of the entire internet, or a better alt coin taking over. But huge money to be made by investing.
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Actually I was wondering, what if some beneficiary of current system buys all BTC and destroys his hard drive? Wouldn't it mean that BTC is lost?
They can't currently do that as all the coins have never been made yet, but if someone theoretically did that then yes they would all be destroyed. Yes, but realise, the more coins he buys, the more they will cost. I dont think anyone would have enough money to buy them all. Every other coin would cost more and more. Maybe though, after long periods of buying/selling, he'd eventually get them all. But there would still remain 2-3 bitcoins out there. And those could always be segregated in many pieces. Their price would skyrocket. |
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I think that if the SEC were to approve it, bitcoin prices would more than double. Wow, how nice it would be to have insider information on when/if they will improve. One could make a killing on bitcoins in just a day.
Agreed. I think bitcoin won't actually enter a "mania" phase until we get a public ETF. Right now, it's just a lot for your average person to understand/figure out how to buy bitcoin. It seems easy to all of us, but when I talk about it with other people, they get a sneer and look at it like it's some sort of scammish fad... If investing in bitcoin is as easy as buying shares in Google or Apple, people are going to be all over it. I don't see why a bitcoin ETF couldn't grow as large as the gold ETF (GLD), which is currently worth $33 billion. That would triple the value of bitcoin... Only tripple? I think it would do more than that. I think also one of the main reasons that many people are not investing, is because ITS SO DAMN HARD to put money into bitcoins. Very hard to buy them. An ETF would make it a piece of cake to buy shares. |
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Perhaps you didn't see the hyperbole in my post: the point was to illustrate the worrying about something like this actually happening is stupid for anything but very high-value transactions. I think it's quite clear that the OP only sees what he wants to see. It's surprising HOW MANY people are like this though. But you just wait and see, people's eyes will eventually be opened. I'm still not sure if it will make it as a full blown currency, but as a store of value, I have great faith in BTC as a store of value. |
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I for one think it's an awesome idea. And Upal, since he made it up, should be the one who holds onto all donations, and be the one to give out the prize. He's trustworthy enough xD
In all seriousness, it is a fun idea though.
Oh ...thank u ....thank u  @Mods where is my Trust signal in the board ?  And YES ....I am gonna arrange all the donations with my BitCoins I own now. The current balance is = 100/infinity !!!  I wish Santa give me some bitcoin this X-mas I'm going to glue myself to these forum come christmas time, hoping some bitcoin milionaires open up christmas threads giving away some coins! |
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No need to nuke anyone. Just blow up some nukes in space, and have the beautiful EMP burn all technology alive. Then, we won't have to worry about any form of hacking for many years to come!
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Or you can give them actual paper bitcoin so they can buy whatever they want... That's why I'm doing (5 millibits to all my family and friends). It's really easy to send money to a paper wallet: https://blockchain.info/wallet/paper-tutorialThen, maybe they'll throw it in a drawer and it'll be worth a lot of money in 10 years! THIS is exactly what I'm doing for christmas. I'm sending 20 bucks worth of BTC to my friends. Who knows, 3 years from now, that could be worth 2,000 dollars. It's not impossible! |
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their motto should be:
"When you go with BFL, you'll see some Big Fucking Losses"
I had to LOL at this. Has there ever, historically, been a time where buying mining rigs is more profitable than just spending the same money on coins? I'm quite curious. |
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Man, all these domain names and the profits you can make. I don't personally believe they are worth THAT MUCH. But... when there are people willing to pay the price... well, then it's worth it i guess.
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I think that if the SEC were to approve it, bitcoin prices would more than double. Wow, how nice it would be to have insider information on when/if they will improve. One could make a killing on bitcoins in just a day.
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I am not quite sure, but I believe OP is one of the people that sold his BTC at 50, and has been fuming ever since. Bitcoin will not fail, just as rare (unique) items in video games don't fail. Look at runescape economy, partyhats (worthless, no intrinsic value) are over 1kUSD each. Why? Because they can't be produced.
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0 transactions will 100% be the future. A middle man company will come out with insurance against double spending, and that's about it. No real hard done. Plus, I doubt any significant % of the population will be double spending.
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I think taht uBTC is the only way to go. Get it over with. People are used to working with 2 decimal points. You'll never have to redenominate ever again. Don't know why it can't be implemented once and for all...
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I didn't quite understand the OP. Is he saying that the CIA were the inventors of the bitcoin? Well, even if this is the case, who cares right? I mean, it's not like they're "in control" of it. Only thing would be that they have 900 million of their own coins sitting around.
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