Miners will still be able to turn a profit from transaction fees.
Yep. If you want to understand the idea, then the white paper is a good place to start and end. You can find it linked in my sig where it says "the gospel according to Satoshi". |
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What do we hope to determine by asking each other about something we don't know?
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I am not a specialist of such kind of this things to be able to judge is can be true or not...
We are, and this is BS. 1. The parameters of the currency could be changed. (with the consensus permission of bitcoin users. Power to the people bro!)2. There could be an attack on the network. (How? People often say this, but I have NEVER seen a plausible method.)3. Transaction volume moves off the Bitcoin blockchain into side chains or permissioned chains. (If a user cares to use sidechains then they are free to, but not required)4. The system does not successfully transition from being subsidized by the block reward to being paid for by transaction fees. (huh? two halvings and so far so good!)5. The Chinese firewall or another Internet issue causes the global Bitcoin network to be split for a few days. (What, split in half? Nonsense. Of course a global nuclear exchange and accompanying EMP could knock out the internet and BTC. You would have much bigger problems than BTC if that happened. )6. The lack of a central authority prevents the protocol from progressing. (And prevents anyone from owning the system. This is bitcoins greatest strength and the basis for all the growth we have seen. Unless you prefer benie babies?)7. A competing protocol could overtake it. (True and possible. If a better system comes along then perhaps it will become more popular. Great!)8. World events prompt a crackdown. (A world crackdown? Please.  )9. Government regulations in one part of the world put the whole network at risk. (The risk would be for those who live under THAT government, not the network. The network requires only two users and I'm one. Can I get a second? )10. People get burned by it as an investment. (True and possible. Why? Because bitcoin was never intended as an investment and any investment entails risk. People get burned to the ground every day on Wall St.) |
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Fees can be a little confusing. The concept is that a miner can accept any fee they want or no fee. This tends to set the fee for any transaction to the lowest level that is supported by the mining network. If a miner demands too much then he might not find a lot of transactions to include in a block. If he charges too little then he might not be profitable.
So it becomes a contest that tends to make winners of the mines who accept a low but profitable fee.
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Like others already mentioned there are a few ways to exchange btc for paypal.
There may be a btc <-> pp exchange in near future due to news of pp recruiting xapo ceo
I really hope so. Right now it is possible to exchange BTC for PP, but it is a poor choice. The profound risk of charge-backs and the lack of legal recourse through PayPal make it a scammers paradise. If PayPal allowed the option of keeping a balance in a wallet and facilitated transactions they could become the largest exchange site on Earth, IMO. I assume Wences Casares understands all this and that is why he has been asked to join the board. Let's have his back by telling PayPal that they are on the right track! |
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Write PayPal and tell them you will use their service when it includes bitcoin. They are thinking about it now, but if we all wrote today this could be done by autumn 2016.
what would happen about chargeback? how they will handle them? That is their problem lol. But I bet they are discussing your question is meetings. Perhaps they will act as an escrow for transactions? |
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Write PayPal and tell them you will use their service when it includes bitcoin. They are thinking about it now, but if we all wrote today this could be done by autumn 2016.
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Oh I love the Onion!  |
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Scale also matters. If you wanted thousands of dollars worth of BTC then I would want to hold your car title. Tens of thousands might require the deed to your house. If it were $10, then a netflix account might do. And for what it's worth there aren't enough alt-coins in the world to get me to part with a BTC.
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I do make an exception for a ponzi that calls itself a ponzi. For a ponzi to be a scam the operator must be deceptive about the source of the payouts. If they are upfront about the fact that payouts are paid from the income of new accounts as they join, then there is nothing really hidden and one could consider it a kind of game or gamble.
"Send me 0.01 BTC , I may return double or nothing. And if I return nothing, you can't give me a negative feedback because I declared you may not get the doubled amount" , don't find any trouble with that logic /sarcasm lol yeah, it may not be a good idea but look at the link below for something called "open-ponzi". They are not guaranteeing anything and are clear that you get paid as more people join. Assuming the numbers are real they are quite transparent and I would not call it a scam. https://open-ponzi.com/ |
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Haha. That's a file saved locally on your computer - we can't access it. Upload it to imgur or another picture host and then link that here. You just need to put a copy of that file on your windows desktop and the link should work fine.  |
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Perhaps this will help? If you are in the U.S. you may be aware of the recent changes in investing laws. Now you CAN invest directly into a business as a normal person (non-accredited investor). Below is a list of portals that let you find out who wants money and for what. I did not see a bitcoin specific option, however you can ask a potential lending target if they would consider it. http://crowdedmarket.com/platform-reviews/list-of-investment-crowdfunding-platforms/ |
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I do make an exception for a ponzi that calls itself a ponzi. For a ponzi to be a scam the operator must be deceptive about the source of the payouts. If they are upfront about the fact that payouts are paid from the income of new accounts as they join, then there is nothing really hidden and one could consider it a kind of game or gamble. However most of these are scams and try calling players "investors". That's like investing in blackjack . Or the operator may say he can double your money based on his special algorithm or other such nonsense. |
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SPOILER ALERT:
There isn't a person on Earth who knows what will happen to the price. I read a lot of "It will go to... But it will not drop below...".
My question is "Based on what?". Math demands numbers and not someones feeling or sense of things. That may have some value in determining the most general and immediate direction of price, but that is about it.
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1. backup wallet.dat to USB memory just in case.
Quoted for emphasis! Make a copy, put it on a USB stick (or other media). Put that screenshot with it for safe keeping. Now you have your private keys and your seed (password). No matter how badly you may botch things on your computer you will be fine if you have these. However if you loose either of these, you are hopelessly screwed. |
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Bitcoin is still decentralized. Unfortunately, as mining is becoming increasingly dominated by large mining corporations the blockchain is being privatized and bitcoin is becoming centralized
That trend could continue and further consolidation could happen. But those entities are just being rewarded for their effort and capitol investment. This has always been part of the bitcoin system. It is not meant to reward people equally for participation, it rewards based on your work. Even the biggest mines have no more ability than you. They may be mining large numbers of coins. But consider their huge investment in hardware, electricity, taxes, employees, warehouse rent, etc. |
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With the US Powerball jackpot now at $700 million, I'm curious about a scenario where a single winner dumps the entire lump sum into the BTC exchange and locks it up for years.
What would the effect on the market be immediately after and for the next few years? What would happen to the market in the future if they decide to cash out as the richest person who ever lived?
$700 million is nothing if you are trying to buy ALL the coins. I would immediately offer my coins for no less than $100 million each. That is the self regulation of a true free market. The more anyone wants coins the higher the price. In the end the buyer can give me the $100mil. each or I can just sit back and benefit from his effort to raise the price. |
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