We don't need mass adoption.

We only need attractive people who are cool to support bitcoin.

That would make crypto trendy and change the image most have that its for nerds and amish communities.

 

This seems to suggest increasing block size won't do much to speed up unconfirmed transactions or reduce fees.

Is there a reason to increase block size if many 1MB blocks are only 10%, 25% or 75% full?

I have seen people using accelerators to help their unconfirmed transactions get through.

This seems like it could be a better option than segwit or lightning network.

What do people think about this?

 

I think Putin could be a good President with good economic policies.

The main threats to russia's economy may be.

1) Economic sanctions imposed on russia by the UN/EU.
2) Banking cartels hate russia as its the only major power they do not control or have influence in.

If it wasn't for those two things, russia could be prosperous right now.

Printing currency by itself isn't a negative.

What is bad is printing currency to overcompensate for inefficiencies in state budgetary management.

Elon Musk and Space X accomplished far more than NASA despite having a budget a fraction of the size.

This is partly due to Space X having incentives to spend capital efficiently while state organizations like NASA have zero incentive to do so.

Excess currency printing is a mere symptom of socialist organizations like NASA failing to utilize revenue efficiently or effectively.

I like accelerators more than segwit, lightning network or any of the other proposed fixes for unconfirmed transactions.

Some wire transfers charge $50 or more in fees.

Those who claim 50 cent in bitcoin transactions is a "major problem", don't appear to have used wire transfers much.

What could help put history into context is metrics to determine how efficient or wasteful state run programs are.

There's no doubt a gold standard once existed and the wealthy once paid 6% income taxes in the united states while everyone else paid 1%.

If it is true that we need governments to have police, roads and infrastructure.

Can we determine if deficit is mainly caused by printing money or a result of inefficient & wasteful spending by a state.

Currency production vs currency consumption.

I'm not certain if mass adoption would be good for btc.

Crypto will probably never be a preferred method of making loans.

From a legal standpoint its difficult to prove a loan occurred with only public and private key records on crypto transactions, this complicates the loan process.

Crypto will also never likely replace paper money.

Price stability and value consistently increasing over time could be the key points that will determine how successful btc is in the long run.

Holding btc in a roth LLC sounds like a good idea.

My main concern would be roth IRA's being taxed in the future as the deficit grows.

If I remember right, taxes and fines on 401k's have been steadily rising.

It could be safe to assume IRA's will be next on the tax hike list.

In the united states, there is something called a "telecommunications tax" which in theory, is spent towards maintaining and upgrading internet infrastructure.

Past politicians have likely spent telecom taxes on wars, submarine aircraft carriers or something other than its intended purpose.

Perhaps Donald Trump can get things back on track & have those taxes spent on upgrading & maintaining american internet.

Which in turn, could put pressure on foreign countries to follow suit and do the same.

Eventually everything could be fiber and FIOS.

At the moment asian countries have the best average internet speeds but maybe there's no reason the rest of the world won't catch up to them?

Which could in turn make bitcoin operations more manageable and viable?

I wonder sometimes if Moore's Law dictates transistors, network bandwidth and file space storage could grow at a faster rate than the blockchain.

If not maybe we'll have people in the future calling for optimization or compression of the blockchain similar to how people are calling for different block sizes now.

Hardware upgrades over time could solve some of these concerns.

Looks like btc is being DDOS'ed with $0.05 and $0.01 transactions.

Maybe someone's trying to lower the price so they can buy cheaper btc before the ETF announcement on the 11th.

Interesting idea.

I think it might work if bitcoins were sold at a 1:1 ratio (or at a discount) with some effort made to educate people on what btc & crypto is.

But if someone tried to sell btc with a price markup, say 1 btc @ 120% of cost.

I don't know if that would work.

Also there is a chance stall sellers could be raided by police and have their btc/money confiscated.

Lewis Mumford makes good points about economic totalitarianism.

Peasants who lived during the dark ages having 189 holidays/days off per year is a point historians and experts too often omit in comparing the past to the present.

Whenever Krugman comments on bitcoin, he always thinks hard and chooses his words very carefully.

Much more carefully than normal. I think its clear bitcoin vexes Krugman more than any other topic he is asked to comment on.

If currencies and economies could be designed to be self regulating, that could eliminate a need for economists.

In bitcoin being a self regulating currency, Krugman could be looking at a future where his job as an economist has been replaced by a bitcoin miner that regulates crypto currency in a more unbiased and objective fashion than Krugman or another economist with conflicting self interests could.

I'm sure that must be distressing to some degree.

It is probably easier to find casino software built for fiat.

Then modify to use btc or altcoins.

That is likely the most cost effective method with the best features as modifying casino software to use btc instead of fiat is near to being a trivial change.

Some african communities use cell phones to pay their bills and buy things in markets.

Its part of an experiment revolving around cashless society.

The electronic foundation they built to implement cashless transactions could work well for bitcoin too.

I wouldn't be surprised if many in those communities switched to btc.

 

It depends on dash buying/selling/trading volume.

If in the past 24 hours people bought a total of $5,000 in dash coin.

Then someone sells $100,000 in dash.

The disproportionate market quantity of sellers in contrast to buyers would push the price down.

When there are many more sellers than buyers it can also cause panic and a lemming effect.

Its not necessarily sinister or a conspiracy, maybe fundamental supply & demand.

When something is in low demand to where everyone is selling & no one is buying, its normal to expect a price decrease.

What happens to your 6,081 contracts if the bitcoin ETF gets a green light on march 11th & the price of bitcoin shoots up to $1500?

 

If you were pushing the price down, the best time to do it could be after march 11th.

Also remember if you push the price down, you're reducing the faith and confidence people have in the long term viability of btc and crypto.

Which means the price won't shoot back up again, like many expect when they try to "dead cat bounce" the price upwards after a sharp decline.

Snapchat stock opened at $17.

Its at $27 now.

I think most of its investment is coming from media groups looking to centralize and consolidate.

If not for that, I doubt snapchat's stock would be worth anything.