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2282
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Bitcoin / Bitcoin Discussion / Re: Could smartphones scan a QR code on a whole side of a bus?
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on: September 24, 2011, 02:42:45 AM
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i was just thinking about 'big' QR codes the other day and thinking that one day someone will do one big enough for astronauts to scan it.
or what if a landscape supplies company built a huge 'QR' garden that linked to their website and could be viewed by small planes and helicopters (and eventually people using google maps). might be a cool marketing ploy.
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2296
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Economy / Speculation / Re: Get ready for a sharp rise in Bitcoin use
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on: September 23, 2011, 01:13:26 PM
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I'm a Bitcoin fetishist, and even I wouldn't bother to use Bitcoin at a physical POS like this. What's the advantage over using a legacy currency? to cater to those customers who happen to only have btc on them, and no $ ...it could happen... maybe later. |
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2297
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Other / Beginners & Help / Re: Revolutionary new system for Bitcoin
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on: September 23, 2011, 01:10:02 PM
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Even as a controlled demonstration, it took about 1 minute to handle the payment. There is room for improvement me thinks.
yeah one area would be an automated link between the merchant's existing price system, so that they don't have to manually type all that info in just to create the bill. |
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2298
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Economy / Speculation / Re: Crash to $2 imminent. Willing to bet.
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on: September 23, 2011, 01:05:40 PM
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if your goal is simply a anonymous medium of exchange, the electricity cost of producing bitcoins would simply be a way of laundering money through the power company.
is that like, reverse laundering? i thought the point of laundering was to get money out of the black market, not into it. what you describe sounds like a way for the power company to launder dirty money. must be time for me to pull out the 'office space' dvd. |
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2299
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Economy / Speculation / Re: Get ready for a sharp rise in Bitcoin use
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on: September 23, 2011, 12:57:46 PM
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Purchasing a car or something for several thousand dollars might require them staying an extra 10 minutes to verify the transaction. This is a good point. The time taken to verify should depend on the value of the item. With an expensive car I would certainly wait the whole 6 confirmations if I were a merchant, but if someone ordered a pizza or wanted a haircut, I wouldn't require any confirmations. Tell me if I have the wrong end of the stick. From what I have read this is where the transaction fees will come into play, and it is what will keep people 'mining' after all the coins are gone? For a high value purchase such as a car, a very small % commission would translate to a reasonably large absolute commission (in terms of miner commissions) and so this should ensure the transaction is verified fairly quickly. If it doesn't work like that then it should! Viva la capitalism and all that. Those that can pay, get stuff (e.g. quicker transactions!) no, the transaction fee only has a slight correlation to the transaction amount. it has more to do with how many inputs a transaction has, and hence how big it is in terms of storage space. (eg. if you have one address with 1000 btc and you spend 1000 btc, then the tx fee should be low, but if you have 1000 addresses each with 1 btc, and you spend 1000 btc, then the tx fee would be much higher because it has to bundle a lot more data together for broadcast to the network) |
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