Thanks for sharing your story. I remember first hearing about bitcoin in 2012 when I heard about the deep web. I didn't think much of it, except that it was just a digital currency. If only I had researched it, just like I do with everything else. But oh well, I am a holder  |
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Where/when will this commercial air?
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Except that achieving enough consensus to successfully hard fork bitcoin is effectively impossible. I mean seriously, they can't even agree on how to increase the TPS limit (increasing block size, etc.).
Bitcoin is now TBTI--Too Big To Innovate.
You don't need consensus. There would be a fork, and two version of Bitcoin would coexist: the old one, and the new one with ethereum's features. The difference with the actual ethereum is that everybody owning BTC would now be able to use the ethereum feature set. I'm very interested in the tech behind ethereum, but the ether currency has no future. |
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Yep, said it for months but got downvoted for it - Adoption without closing the loop brings massive downward pressure due to BTC>USD conversion by merchants.
Adoption, at first, drives down the price.
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For those concerned, bitcoin is already highly regulated. It is a self regulated protocol. I have said, if this becomes law I will push forth an agenda to open up an illegal bitcoin exchange out of retalliation in NY. Government is only panicing right now because it realizes that crypto technology is a threat to the existence and power of corrupt government. And so government is doing everything it can to suppress technology.
Solution: Do not comply.
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How many times do I have to say this everyone? It would only be yourself to be at blame for willing to comply with it. There is no way to enforce this unless you willingly comply. To comply or enforce is to be just as guilty as the one whom created that tyrannical law. For a law is no law if no one complies with it, or enforces it. The legal system no longer has legitimacy or credibility. And anyone whom thinks otherwise is a fool and blind to current state of the world and how it works.
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Thank God, that guy has no business being on camera. He sucks at articulating himself.
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The article implies that mining difficulty drives the price, but it's more complex than that. Due to the effects mentioned in the article, miners will join and leave based on profitability, therefore the hashrate will follow the price to some extent (or rather mining investment per unit mining return).
The difficulty drives the cost to mine a bitcoin, which drives the local-minimum price after a burst bubble. Price is driven by a mix of supply-and-demand, but also the price to mine a coin. When demand outstrips supply, price increases well beyond the cost to mine a bitcoin. However, when the market crashes after a bubble, it doesn't crash below the fundamental cost to mine a bitcoin - and if it does - not by much, and not for long. |
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The dollar has lost 97 percent of its value. The end stages of a paper currency always goes very rapidly. Although its been gradual for these hundred years there is going to be a day that I expect there could be a panic out of the dollar, then the Bitcoin issue is going to be a much bigger issue." - He called it the Bitcon issue..
The word "issue" has traditionally been used to mean "topic" and not "problem." The problem is related to fiat losing it's value because of bitcoin- he's historically and obviously bullish on alt-currencies, crypto or otherwise. |
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"Draper recently made beat 44 rival bidders ..."
Uh oh.
Yeah for real? 44 Bidders? So at least 44 large investors wanted those bitcoins? yeah some of those 44 were just putting in ridiculously low bids though on the off chance they could pick up some cheap coins. |
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Bitcoin would let venues go around ticketmaster and cut out a very expensive middleman in the ticket buying process.
I think that the venues actually make more money selling through ticketmaster, even though it costs their customers more. I recall reading about booking deals TM has with venues and labels, which work in everyone but the artist's and customer's favor. Of course, the only two people in the transaction that are there for anything other than profit are the watcher and the performer (most artists, imo).. Fucking capitalism. |
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Bitcoin would let venues go around ticketmaster and cut out a very expensive middleman in the ticket buying process.
They can already do this, by setting up their own ticket exchange and accepting paypal payments or just having a CC clearinghouse account. |
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The US dollar is also a digital currency, by the way.
Similarly I had an account in Euro a few months before they started issuing the physical money to the general public. Most currencies today are digital. |
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The US dollar is also a digital currency, by the way.
Actually in money supply terms M0 (the total of all physical USD coins and and bills in circulation) is only a fraction of the total money in existence. The Fed has stopped reporting on the M4 numbers so we don't actually know how many dollars there really are, but it is accurate to say that the vast majority of USD only exit as digitial information on some computer. |
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So celebrate this, what are we calling it? Victory? This 'victory' for bitcoin, but know that it is a victory that can, and will, bite some of you in the ass.
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While this is good for bitcoin it's mostly because Expedia knows that they will never have to give a refund to anyone paying with the coins. Ever.
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Expedia has also been known to lie to guests so they can lock in a reservation and get their commission. Don't believe me? Ask any hotel worker how they feel about Expedia or other 3rd party booking sites (many of which use Expedia as a back end). I recently had to turn a guest away because we have a 21+ policy and he had booked through Expedia and already paid. We were quite happy with our free revenue as he did not do what he was told (call Expedia and tell them we couldn't allow him to stay here). This was booked through a credit card so he had options to fight it. If he had paid through bitcoin, there is no way to challenge the transaction.
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Let's look into what this means for you, shall we?
You book a room through Expedia and you say you want a king room. So far so good? Well your reservation says you have a "standard room", that means you will NOT be getting the king room you requested. In fact you will probably end up in a wheelchair accessible room or, if the hotel has them, a smoking room. Yes hotels still have smoking rooms even in states with smoking bans. Source: Me.
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Great news! You can now use your bitcoins for hotel rooms. Bad news! It's through Expedia.
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