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In 20 years kids will grow up with Bitcoin as the absolute normal thing and there will be nothing to explain, they will simply get it naturally, just like you dont have to explain them how to use the internet, they will just use it.
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This. The more money we extract from the evil fiat system the better. It only strengthens Bitcoin. It raises its marketcap, everything about ti is positive. There will always be other people that can afford or it just dont care about holding to spend some of it. |
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I just tried putting -reindex in my Bitcoin shortcut, has been going for a while, it's about 1/2 now. Im just wondering if I can quit and go to sleep and continue tomorrow starting where I left it at, or will the process begin again from scratch? cause i want to go sleep and the computer noise annoys me.
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I think with even Greece making a silent exit we probably will test the $250 waters eventuially before a rally to stable figures over 300 :O
Imagine what will happen if the eurozone crumbles. Right now Germany, France and Italy are trying to keep the ship afloat, England is starting to show the middle finger and the rest is just watching the chaos unfold. It can't go on forever. I don't think we'll see any crumbling anytime soon, you'll see how the news stop talking about Greece for a while and we'll (by we I mean the average clueless joes) forget about Greece and what happened, just like "we" forgot about what happened with Ebola (notice how it was all over the place and not Ebola "doesnt exist anymore". They'll use this sort of tactic, and once shit hits the fan for real it will catch everyone by surprise and the smart ones holding BTC will visit a place called moon. |
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Is there any accumulated collected wisdom on an ideal block (reward) schedule for a cryptocurrency? Or does anyone know about theoretical research on the question?
I'd assume reward schedules could/should be different based on if the asset is is designed to be a primarily commodity vs. if it is designed to be a currency ( I am speaking in the abstract since in practice they are often designed to be both).
Any thoughts?
I don't think there isn't anything ideal about any of this, it's just what's "good enough". Right now we don't really know what's good enough, thats why we have ongoing endless debates such as the blocksize one. I guess we'll find out as time goes on. Im just hoping devs get their stuff together and act accordingly. But at the end of the day it should be the users and miners that decide what they want by running nodes. |
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And you haven't taken into consideration the hidden fees. What I hate about banks is that they will hide behind their Terms and Conditions and I bet most individuals, an average daily user like myself didn't even notice that the fees existed. And you haven't consider the fact that there are millions of users using their services each day and the small amount will really pile up.
If it was a small amount, I wouldn't be complaining, but on a transaction of 100 euro, 32 euro's fee's, what the fuck!? Mafia..... It's ridiculous and a scam. It's clear now that the banksters have been charging over exaggerated fees with the excuse of "running a bank is expensive, we need to charge customers to keep things working". Well, guess what, now we have BTC, no more excuses left for them. It's game over. If only it was that simple, but the reality is that much of our infrastructure isn't build for bitcoin/blockchain YET!! What infrastructure? The infrastructure is already built (the internet). All we need is keep improving the software, making it more accessible, and make it spread around the world. If anything, the infrastructure is simply nodes. |
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It means exactly that. To confirm a movement in your wallet you'll need 2 or more signatures, which can be divided by several private keys.
As far as I know, the best way to go is still good ol paper addresses. Print 3 addresses, all containing both private key and public key, put those in 3 different places where no one would search, or give them to people you really trust (if you can trust anyone that much) then when you need to make a transaction you'll need all of 3 to make a move, plus ideally a password that only you know.
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Ebay is going to come around on this in the future. if bitcoin gets bigger and be used vastly they are going to be left behind if they continue this path.
on the other hand if some projects like open bazzar becomes successful they will lose their share of the market which is not good for them.
Open bazaar needs to offer clear, objective incentives to use it instead of ebay and most importantly, those incentives NEED to be understandable by the average joe. The average joe doesn't understand anything about decentralization and I dont think they care, but if they can save a lot on fees etc, the will go there. |
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One of the biggest contributing factors to debt in the world, is the fact that we have literally lost touch with our money. The wide acceptance of payment methods where you do not physically trade with something you touch, for example Credit cards, debit cards and electronic money, could make it easier to spend money. In South Africa, a company is testing this theory with a reality series, where the contestants are given their monthly salary in coins. The idea behind this is to see what impact this has on the spending habits of these people, when they pay for everything in physical coins. Source : www.onerandfamily.co.zaQuestion 1 : If Bitcoin or Crypto currencies replace fiat, would you spend more or less? Question 2 : Do you think physical contact with your money, makes you spend less? Question 3 : Would we have less debt, if we paid for everything in fiat? Yes we can, it's the future. Using physical coins is something of the past. The problem is if the electronic system that replaces physical coins are legit or not, and Bitcoin is the most legit thing ever, so im not afraid to let go past practices such as physical trading. |
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btcjam! wanna talk about a grade a bonehead thing to get into
Based on people's attitudes on this forum, I'm surprised that this hasn't come up more. I put .2 BTC in the Jam to test the waters. May just have been chum for scammers, maybe not. Time will tell. If you invest in a A+ rated person or company wanting a loan, and they don't pay you back.. how can you lose your money? to be A+ rated they gave all of their credentials and can't hide away.. so how can you lose money when lending for A+ rated persons or companies? |
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I think we will see decentralisation happen in many aspects of life.
Once the general public get used to safely storing and using their own personal private keys, all sorts of things become possible.
Rapid direct democracy is one of them.
Decentralization will take over the world and most of it will run under the blockchain because it will be the most secure way to do so. Decentralized voting through the internet is inevitable. Soon we'll be voting through the internet with perfectly automated and counting system of votes. |
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The ones selling now will cry later. Same old history as always. The people that is already invested in btc is the 1% of future millionaires through crypto. We are lightyears ahead of the pack.
this assuming that everything goes well, right now our way looks bright but you never now what will happen, many assets have started with great promise and opportunity to grow but then they faded away like tears in the rain Bitcoin is not an asset, Bitcoin is a protocol and it will still be valuable no matter what, and it will turn on OK and will scale up globally, just like TCP/IP scaled globally when all the haters said it was never designed to be used all over the world. |
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Then that makes sense for an exchange to hold and have continuous micro transactions funneling through this address. Thanks for this observation. Now some people can sleep soundly tonight  Not really.. Why would an exchange funnel micro transactions to their cold storage? Their hot wallet would make more sense, but that would definitely not contain this amount of coins.. None of the theories here make sense to me except the spam test one. Who would test a ton of times with a small transaction before sending a big one? just one small test is enough if you are paranoid about your transaction not going through or something. |
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https://bitcointa.lk/It's like this forum, but with way less traffic. Other than that, I don't know any other forum. I don't think there will be any other bitcoin forum with more traffic and better posters than you can find here.
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lending your BTC to gaming sites you are at risk of losing your entire capital. also for the returns you are at the mercy of the site operator.
BTCJAM allows you to lend to many different borrowers under conditions and rates that you set. So you avoid putting all your eggs in one basket. You may lose a bit of capital on a bad deal, but you can minimize risks by lending small amounts across many lenders, and do your due diligence.
The downside of BTCJAM is that it just seems like a lot of work.
Honestly BTCJAM is not ideal, but there is nothing better just yet. I think there is a huge biz opportunity to fill this market gap to provide reasonable returns on BTC investments (while protecting capital).
I would love to use my BTC to give loans, but whats the point when the guy getting a loan can default and nothing will happen to him? People will keep getting loans and defaulting and disappearing, now thats how you double your stack. |
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There are so many opinions on people saying, someone is wealthy or rich. http://dictionary.reference.com/browse/richor http://www.nytimes.com/2014/06/17/upshot/definition-of-rich-changes-with-income.html?_r=0Many people consider being rich, as the positive balance in their bank account or the house bond that are paid off. In many instances, people regard a high income above a certain income bracket, as the indicator of wealth. I know for a fact, most of those people with the high income, has just as much debt, or even more than the people earning less than them. Do we consider someone being Bitcoin wealthy, when he reach a certain bitcoin count? Say 1000 coins? Do we know how much other debt these people have, or if they own any other assets? In your opinion, when do you consider someone as being wealthy or Rich? People judge other based on the car they drive or the house they live in, but most of these are backed by huge debt. If you subtract the debt owned by these people, compared to the assets they own, they are acctually poor. Let's not judge people, based on the size of their Bitcoin balance. Someone with 1000 coins is considered wealthy, specially if those coins are hold through time, but chances are, most people will sell all of their Bitcoins before 1 Bitcoin reaches a ridiculous amount, by then, people holding only 1 Bitcoin will be wealthy through natural wealth distribution over time + increased demand. |
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There has been hundreds of obituaries written for bitcoin over the years yet what we see is increasing adoption and investments in it
It fluctuates in media attention and price but overall its on the rise
Same cannot be said for altcoins, majority of which are get-rich-quick schemes
I wonder how many entries bitcoinobituaries.com will have in 10 years. The owner will probably need to hire a bigger host to fit the huge list that would constitute 10 more years or morons claiming bitcoin is dead. Fun to witness. |
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One of the main reasons it's basically impossible to exactly know the % of the supply that's lost forever is the fact that you can't know if an address that hasn't got activity for a long time means the owner lost the password, or the owner is simply holding those coins and working with other addresses for transactions.
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looking very suspecious i think not the biggest wallet but something looks fishy as all of the received transactions are of 0.00001 when 0.0001 is the transaction fee who will send 0.00001 ? i am not an expert but how come all of the received payments are of same value and never ever even 0.01 BTC was used from this wallet Maybe those are dust transactions from a spam test? That or BurrtW's theory of a testing before sending a big ass transaction. |
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