At some point you could always change the client/protocol to allow 1 Satoshi to be broken up, e.g. into a trillion pieces. You could also use one or more altcoins to make change. |
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Having used the search facility a bit, all the discussion on lost coins seems to be focused on its only a bit, and it will make the rest more valuable so its not an issue. However, I think there is a problem with this thinking. http://mises.org/money.asp |
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I have two more purchases in transit; one has an ETA of Wednesday, 18:00 UTC, and the other of Thursday, 18:00 UTC. I'll try to keep progress posted here if anything changes.
Right now both of them are appearing in my transactions tab.
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Will it take Terracoin?
Yes it will take all non-scam alto. Domain and demo will be announced in next 12 hours on forum. Looking forward to welcoming you to the exchange scene and trying out your services.  |
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BTC-E is by far the largest Litecoin exchange.
But several vocal Litecoin groupies have decided to boycott BTC-E as a result of their hissy fit over their support for a second scrypt-based altcoin.
ASICs should recharge Litecoin's batteries once they drive difficulty out of sight for GPU miners.
I think what's needed is more uses for LTC. Using it as an cheap arbitrage pipeline between exchanges would increase its usefulness. Maybe the LTC community should lobby the other B xchanges to do that.. One could probably come out of BTC-E to ripple in LTC, xchange to BTC there, and arrive at another xchange in BTC.  But it would be more useful to leave one xchange in something other than B or fiat and arrive at another in something other than B or fiat, such as in LTC. A new exchange coming soon to offer new alternative to btc-e, Mtgox... More infos (the demo)coming in next days. If you can setup a LTC to XRP gateway you would kick btc-e ass. Noted anyway this exchange will be owned at end I think at 50% by communauty and a thread will be opened to get all idea from future users. Demo will be announced tomorrow Will it take Terracoin? |
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I found Arvicco's service to be very friendly and helpful, and it looks like he's now more than doubled the rate he is paying, so I encourage people to keep exchanging with him. It gets the ripples in the hands of somebody who will use them, and it gets you BTC.
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Hi, Bitinstant; are you still likely to be back up today? I was planning to use bitinstant for a Dwolla -> VouchX exchange soon; hopefully today.
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Maybe we should use vircurex as an exchange instead of btc-e? No NVC trading there. And I've generally been happy with the service. Had a couple of hiccups there (especially on a large transaction that took a few days to get fixed) but overall less drama there. They do have some iffy-coins still listed (FRC, IX, etc) but I just avoid those. Wish I could sell LTCs for USD directly instead of via BTC but no biggie.
And no... I'm not associated with them or a paid shill. Just a occasional user.
You can exchange LTC and USD on Vircurex. click on Settings, Layout, and then uncheck "Show only BTC rates," and save. LTC/USD exchange is here: https://vircurex.com/orders?alt=ltc&base=usd |
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You can use bitinstant to get dwolla into a couple of exchanges, and into VouchX, which you can get into a couple more.
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More or less, yeah.
I don't get into the nitty gritty with the mathematics, I simply explain what incentivizes miners, how miners secure the network, and how the network functions overall. I leave mining out completely unless people ask about it. I do mention about how cryptography is used to ensure private communication on the Internet, and how it is used here to pass transactions "like signing a check." |
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You can watch specific addresses, blocks, and transactions in the Bitcoin system by using websites like blockexplorer.com or blockchain.info
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Do the benefits that the Ripple system bring to participants outweigh the enrichment of the authors through the self-issuance of the entire block of in-system currency units? It doesn't bother me at all for people to be enriched. |
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Start the process now and get it over with. It took me over 2 weeks to get verified with mtgox and dwolla. Mtgox would have just taken a week, but i only sent a utility bill. The verification page says that's all you need, mentions nothing about ID, but they also require a photo ID. Then after 2 weeks when i tried to make a transfer from dwolla to mtgox, i found out dwolla needed an ID. But now I'm glad i went through the hassle and got it done. Ditto, more or less. Start the process now, and get it over with. |
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Your best bet might be to try http://bitcoin-otc.com/Bitinstant is supposed to be back up on Monday. You might also look into coinbase.com |
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Now that the Feb 28 deadline has passed, what's happening?
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Fifth.. call it something without the word coin in it.  This going to be the most difficult one, so many good names have been tried and taken: ecash, egold, bitgold, mintchip.... Latinum. A hundred years from now, I hope society transacts business in Bitcoin-pressed Latinum. |
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Time to move on to a next cryptocoin and LTC looks like a very good choice. Not really, since it changes a lot of the things that are good about BTC. For example, it makes it a lot harder to increase the hashing power of the network, reducing security. A better choice would be a coin that is closer to the excellent Bitcoin design, like Terracoin. As far as "moving on," I'm not reducing my Bitcoin holdings, but I'm definitely accumulating some additional *coin as well. |
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I'm also a little weary of the Ripple conversation. If they don't burn out soon maybe it can be a subboard off of alternative cryptocurrencies. I cashed out of Ripple as soon as I was into it, thanks to the generosity of a buyer here who gave me BTC for XRP. If that proves to be a mistake, that'll be okay. I liked the BTC; it was tasty. I still love Terracoin and hope there will be more TRC discussion soon to counterbalance some of the Ripple discussion. |
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@oleganza
When bitcoin opponents say that under-consumption or under-invesment is bad, the reasoning is usually the following :
Under-consumption
If I can sit on my bitcoins and get richer, then I will spend less, because every satoshi I spend tomorrow instead of today makes me richer. This is bad for the economy as a whole, because demand decreases, and this leads to the economy slowing down. The answer is that "demand" is not a single number in an economy. There is demand for horses, and demand for yachts, and demand for notebook paper, and demand for entertainment, and so on. And there is demand for money. And this scenario simply describes an increase in the demand for money. If they are arguing that the economy needs increased demand, this is increased demand. Two good books to give people, if they show any interest: http://mises.org/money.asphttp://www.mises.org/books/time.pdf |
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