I'm just trying to understand the mentality.
Because the price could just as easily drop to $1 again also. Because people need fiat currency to buy something. I personally have no intentions to sell under $18, but people always have reasons to sell. Everytime you buy a bitcoin someone had to sell it. The price could not drop to $1 since so many people are actively interested in Bitcoin, unless there is a fundamental problem with it. |
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I'm just trying to understand the mentality.
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Take Bitcoin's code and create an open source currency without a limit. See if it catches on.
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I'll prophesize here: In the future, most people will not use wallets on their computers (due to security risks).
Most bitcoins will thus be stored at bitcoin banks, and a purchase at a burger king will be between bank and burger king. Trust will be immediate and you'll get your burger right away.
Thankfully, people won't HAVE to use banks if they don't want to, and the banks can't peddle fiat BS.
But then the bank will want a cut and we are back where we started. It won't be a 3% cut like credit card companies charge. |
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I'll prophesize here: In the future, most people will not use wallets on their computers (due to security risks).
Most bitcoins will thus be stored at bitcoin banks, and a purchase at a burger king will be between bank and burger king. Trust will be immediate and you'll get your burger right away.
Thankfully, people won't HAVE to use banks if they don't want to, and the banks can't peddle fiat BS.
I think people might use wallets on their computers, but not for day to day activities. It is like keeping your money in a safe. Nobody controls it except you, and nobody can take it from you. |
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Do money transfers between banks work instantaneously as well? Funny how the dollar works...
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Wrap your head with material to make a Faraday Cage... it will protect you from anything bad. Tin foil is a good material for this.
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When people are talking about "a small amount like for a hamburger" they usually are proposing that the merchant look at all relayed transactions -- they should see the burger purchase, and if a bit of time goes by and they don't see any other purchases from the same address, a double-spend would be harder.
So when you say, the merchant "looks at all relayed...", do you mean, a software application does all this automatically for the vendor and comes back with an "It looks good" message? And then when you say, "a bit of time goes by...", do you mean, less than 5 seconds? The point I'm getting at here, in a nutshell, is, can we reliably process transactions less than, say $50, in 5 seconds or less, or not? Customers could create an account with an online site and deposit a few of their Bitcoins into this site. The customer could then use their credentials at this site, possibly using a smartphone, to purchase a burger. The burger restaurant trusts the site when it says the payment is coming, and surely enough the site wires BTC to the burger restaurant (at this point the customer is already eating). The site then credits the cost to the account of the customer. |
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Surprise surprise, a two year old open source project is not ready for mainstream. News at 11. Where was Linux in 1993? Except this isn't some project regarding a video player or mp3 encoder. This is a project surrounding software that people are investing lots of money into. You can't sell Bitcoins as the next best thing, and at the same time hide behind a this-is-open-source-it-what-do-you-expect when its convenient. Come on. The key word is "next". Bitcoin isn't even version 1 yet, which is analogous to Linux in 1993. |
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Namecoin prices have been increasing this past week... they were at 0.025 BTC and are now 0.035 BTC. Keep in mind that their peak was at 0.14 BTC.
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There's pretty much no infrastructure right now, using it is extremely difficult, and it seems like trends are flatlining right now
Excited about the new exchange opening Tuesday but another exchange is not the problem
If there were more infrastructure, the price of Bitcoins would be higher. |
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I was so hoping they messed up and gave me 1k BTC.
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They wait for the last sec.. sorry I mean 20 minutes PAST the deadline to post that?!
GOXING is a art. |
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By the way - she won't actually give you 5 BTC. She won't give you anything.
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What is postponed? I think you meant GOXED.
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Maybe they just forgot to turn off the redirct to the forum post, and are scratching their heads about why no one is logging in.  Maybe they are all checking from inside their local network, and aren't trying remotely. |
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GOXED AGAIN?!?! for real?
this forum really needs an "ignore this member forever" button Then stop responding to me. Why did you single me out in this thread? |
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GOXED AGAIN?!?! for real?
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5 minutes to Gox. Hold your seats tight!
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