It will be from better code/implementation, eg like a truecrypt that rus better and a block chain that only needs to be so big, ie once money has past through a wallet no record needs be kept that is was there, beyond say 10 steps or n steps that keep in line with processing power to prevent hacking

Miners do  deserve to be paid, but I should also be able to be a miner...eg the advantage to buying a big rig would max out more like with being able to run crysis at highest resolution type of program. the stability will be when you have the largest number of users givng up pc cycles....this will always out do specialized rigs here and there that can be shut down

nah look at the log graph its on the line it make overshoot a bit, but its on trend

Perhaps you could make a sticky for this topic if it comes up a lot and there is a flaw in the reasoning

its not much help to the community [growth] to say "Good God, another one".

I am more than happy to be proven wrong

Theory of conservation of bitcoins, pump up to go.


Suppose that say 1 bitcoin can goes through 1000 transfers, at 0.001 per transfer the whole value of that coin will be taken by the miner/processor.

The only way for the bitcoin to be returned to circulation is if something of value can be offered to the miner/processor, eg a service, goods or cash. This will be the same for any crypto operation, though some like litecoin may be easier to process. Thus more value by goods/services or "cash" must be pumped into bitcoin if it is to continue back into circulation.

Thus bitcoin can only work if more an more value is put in.


Observation 2

a failing of bit coin/and perhaps other crypto coins may be if the processing cannot be done by the average computer, then it leads to a natural centralization of those who invest in/afford or have access to by stint of luck/happenstance + skill (eg asic miner just had some contacts with manufacture).

TL;DR the blockchain and payment processing must be able to be processed by the average or very slightly above average computer, in this scheme centralization would be avoided, and the most actors would/could engage an the largest P2P would emerge, further the most people would be puling out the same value of a bit coin to themselves so no skewing of that value to any person, so it equals out.

This is where a fork will occur and be successful for larger uptake, when I can really run my own bank from my own laptop, and meet the cost of doing the transaction for same cost of the webrowser eg the power an flat connection fee to internet.

why should I be charged any more for just sending a protocol?

I think that China is looking for a quiet way to unwind its USD position and undermine the US/USD$. Bitcoin serves a mechanism to do this, I think that even if the US tried to make bitcoin illegal you would see alot of miners pop up operating from or behalf of the Chinese govt. I mean they now have the Fabrication power for asic miners. The Bit coin market would have to grow to about 1T to make it useful on that scale but if I was CNY govt I would have a couple bitcoin miner/transactions farms ready to go.

I have noticed that blockchain.wallet

does not seem to charge transaction fees? or is it they just round of the decimal places two two significant numbers

and
elctrum
multibit do charge fees

how about bitcoin

is there anywhere that you can put an option to vary the fees for the electrum,multibit and bit coin?

when I go to the blockchain info wallet, home

I see the down load/email/google drive/drop dox

but when I press download it just pops up a screen that has a string of numbers
and only save as html or cut and paste

Not a wallet.aes.json

do I have to remname the cut and pase file into a wallet.aes.json???


it certainly does not look like a wallet.dat file

can I upload the wallet.aes.json to multibit and other clients
if yes what pass words do I need??
or keys


I see the import/export link

I click on that

but nowhere does it let me export my wallet

what would i need

to do this


eg export what from blockchain wallet

also

do I need to get a new backup after every transaction?

Ok so mutli bit them just looks at the last bit of the blockchain??

I have read a lot on the block chain length problem

it seems to me that even the best solution only halves the block chain sizes eg, merkel/orphan etc.

thus it would seem to me that the exponential growth would destroy block the distributed nature of BC an leave it vulnerable to take down by GOVT's hitting about 10 main providers

the moores law is not keeping up with exponential growth and anyway software never increases in speed that fast

even then no one is actually implementing any of this merkel/orphan....thye just talk about it and the blockchain get bigger faster every day

it seems if any serious uptake is going to happen there has to be a fundamental shift....

I would have throught that would be that only a rolling solution with say 4 blocks back (or enough to reach some validation level) would be needed, that the mac total size of the block chain would consist of all the [21M BTC/the number of smallest division] x history 4 blocks back and x other data needed = max ever

sort of like how time machine works, it only saves the changes....

I don't care that x paid y 3 years ago, only that this was validated by at least 6 miners 4 times over....

this rolling solution seems to be the only way out

because not only this but the network bandwidth of billions of transactions that always have to sent by millions of users  out every time is going to be the ultimate ddos attack by te users on the system they want.....see banks dont keep this data, and visa does not either they just work that it was all valid and then send the money/credit of to the next person...the end.



I hope I am really wrong....please someone help me

So if if blockchain.info was shut down could I get access to my BT in thier wallet

Also would this stuff my usage of multibit as I understand it it relies on Blockchain.info

what steps should I take to ensure I can access my blockchain wallet even if blockchain is gone