BitCoin is good but it is not totally anonymous.
How can you say that? Maybe the best factor for me about BTC is the concept of anonymity. I got interested in it because of that. Why can you say that btc is not at all anonymous? Bitcoins are not anonymous unless you take a lot of precautions. Everybody can see every transactions that was ever made on the blockchain, so if any transaction you ever made is linked to you(e.g. because an exchange or an online merchant has your data) other transactions in this chain can be linked to you. |
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I like the idea of someone just messing around with all the trade bots.
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I think that miners will eventually be supported by TX fees, but right now our TX fee structure is probably wrong for it.
TX fees are what we pay the miners to maintain security on the chain. They do this mainly by making a major investment in hashing power. When Bitcoin got started the resources required to do mining were mainly bandwidth and storage space for the blockchain, because CPU power was assumed to be widely if unevenly distributed. Accordingly the tx fees were set according to the amount of bandwidth and storage space a tx required -- that is, the transaction size in bits, because the cost of mining was assumed at the time to be proportional to bandwidth and storage required.
But ASICs changed the world. The bandwidth and storage space required to do mining is now essentially irrelevant as regards the expense of mining. People with the bandwidth and storage can't mine effectively in competition with ASIC farms. The major expense of mining is now dedicated hashing hardware, not bandwidth or storage. If we want to charge what a transaction costs the network to secure, TX size is no longer an accurate measure of anything.
Ultimately, what secures the blockchain now is sheer dedicated hashing hardware. The question is how much of it we want to buy -- indeed, how much we will economically cause to be manufactured -- in order to secure the chain.
I think that we need security proportional to the value of the transactions secured. Therefore if we're going to charge tx fees for security, we need tx fees proportional to the amount of bitcoin sent. The charge for tx size in bits (bandwidth and storage) should be high enough to keep "dust" out of the chain, but if we want security proportional to the amount secured, the main source of tx fees should probably be charged for the tx size measured in bitcoins, not in bits.
What I am always wondering, when I read about what the transaction fees should be: Are you guys proposing a standard fee, that is mandatory? |
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I am a firm believer that bitcoin is facing three challenges. 1. blockchain bloat, 2. low transaction rate per second, and 3. a mining system growing into something it wasn't ever designed to be.
The OP has brought up a serious question. Blowing him off doesn't fix the problem. I would love to see Bitcoin succeed and would really like to see a definitive road map here of how bloat is going to be solved.
What I have read so far in responses is that
A) it is no big deal because as the blockchain grows, so will computers ability to handle it
B) there is a way to trim it but it hasn't been implemented
I don't know enough on the technical side to know if either of these are true, but I know they can't both be true.
One answer says there is no problem, the other says there is a problem but that the problem is not that big of a deal.
If the "A" scenerio is true, what happens if computers don't grow with the ability, what if the growth of Bitcoin explodes next year, what is plan B then?
If the "B" scenerio is true, why hasn't it been implemented yet, or at least some kind of alpha is in the works that can be built upon? It has been many years.
You got it wrong. There is a problem, but it is not a real problem(since computer power is far ahead), yet. So, plenty of time to fix it and they(Gavin) are currently working on it. Like I stated before, there is not even a forecast, when it will become a real problem, which just proofs we have plenty of time. |
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There are a lot of people, especially IT people, who try to make BTC sites, but in fact BTC users market do not demand that or BTC users market is not enough large for so many projects. Why they are wasting their time, what you guys think ?
Why do people do anything that costs time and could fail? Sorry, but that is a stupid question. |
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Offtopic: As a merchant, can I be listed on Bspend? Ontopic: I bought a few things with BTC, like a t-shirt and a few physical bitcoins (eg. silverwallet). Just send them a mail. I am pretty sure, they are happy to add new merchants.
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lol the currency gets its value lol from the protocol and the network lol. Bitcoin is the most lol sophisticated, decentralized, secure payments lol network the world has ever lol seen. lol. The base unit in which lol transactions happen over that lol network must worth something lol right? lol? lol.  Its value from "the protocol" ooooh ok.. Real Money gets it value from- Secured tradeBitcoin is Sophisticated and also a fad. This is what it is.... one virtual BTC will be trade for $391.58 dollars If the $391.58 isn't secured to you why give it a dollar value next to it. Why don't just give the BTC for free like it started to be. THe only reason you are so delusional is because it has a trading value..... PONZI. Now try with LMAO! ANd still Laughing OUT LOUD! Every investment is a ponzi, if the definition of ponzi is, that the early adopters benefits the most from it. If you buy stocks and the stocks increase in value, than the ones who bought early benefits the most. But that is just half of the truth, since buying stocks mean, that the company gets money it can use to invest. If a miner sells it's BTC it means he can use the money to pay his electrical bills and buy new hardware for future. Sure, there are also people who just cash out, but that is nothing special in economy. There are also people who buy stocks low and sell them high and don't really care about the company involved. That's just some basic stuff you learn in every economy class at University(like I did) Furthermore, mining btc to convert to fiat and pay your bills(or cash out) is just the first step in Bitcoin and we are over that, since a lot of merchants already accept Bitcoin as a currency. Sure, a lot of them just convert them into fiat instantly, but not all of them. Some keep at least a fraction of it in Bitcoin and even pay their employees with Bitcoin. This will also increase over time. I think, you problem with bitcoin is, that it's utility has to develop over time and wasn't just there, when it was invented. But again, that is nothing uncommon. Just look at how the internet was used 20 years ago and how it is used now. Btw. I am from an Euro-country and the utility of the euro also grew over time, when more and more countries would accept it(I am making holidays in spain in december and I don't have to exchange fiat for that). There are some similarities to BTC. |
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Wikipedia is not a credible source as anyone can make an edit to a wikipedia entry.
You are wrong. It's moderator by other users and you can't post anything you wish. You must provide references that will be checked by others. I like Wikipedia, but it is not really a reliable source. You can just take any crap news site or blog as a reference. A lot of people just write something themself and than put it on wikipedia, with them self as a reference |
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Fatty has a point. For now it is just a academical problem without even a forecast, when it will become a real problem.
Doesn't seem like it will become a real problem next year and they are already working on a solution.
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I think you didnt read my last few lines...LOl..I think I am educated enough to understand this agreement between major companies who has
hooked the poor again into believing and investing into something that will never benefit but drain their hard earned "real money"
Sorry, but you obviously understand nothing. You should read more before posting such nonsense. Bitcoin is no company. It's a protocol, a software, and a currency. ya.ya.yo! not nonsense...I think you are delusional. keep dreaming. If you own any BTC you need real money to give its value..No one will accept your btc if they are not backed up by a true value. Trade among your selves and see how it will benefit your wallets. YOu are certainly delusionalif you go to Europe or Asia nobody will accept you USD. So, USD is also not real money? |
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Have you guys ever looked in how much the transaction fees is in relation to the block reward? e.g. https://blockchain.info/block-index/464811Transaction Fees 0.03933258 BTC
...
Block Reward 25 BTC I don't think transaction fees are really a concern of miners, since the block reward is just much higher, than that and will be for a long time |
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considering most bank transfers cost roughly €0.09, $0.05
Seriously? In my country most bank transfers don't cost anything. So, I stick with that also in Bitcoin. Miners get block reward, so I don't see why they should get transaction fees. |
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OP just seems like another one of this people who wants to get rich quick.
If you want Bitcoin to succeed the exchange price is not important. The important thing is, that people can use bitcoins and get used to using it.
Success is about gaining acceptance.
Vendors will keep more and more of the bitcoins they earn eventually .
And don't worry, the exchange price will follow eventually.
But that is a slow process.
If you want to get rich quick, you can try daytrading, but that is a big risk and I personally wouldn't recommend it.
Not sure what the "get rich quick " plan. If you see it please let me know. I don't day trade, suck at it. Did you read the article? what it is talking about is essentially economic terraforming. This is a long painstaking process frought with risks, obstructed by ignorance and loaded with clogs and blockages. Essentially it is economic terraforming, the exact opposite of a "get rick quick" anything. Nothing quick about it. Not sure where my riches come into play either. lol Only got a few coins left, maybe not even two. I spend alot of time educating merchants and folks. Just gave away some btc to break dancers and a poet and spent time telling them about Bitcoin. Please feel free to donate to me so I can get rich quick. 19t6Y7DXyh3jseYt3CtrWGXH3sEmrDhR7W Every lil bit helps lol. We all need to work together to close the circle on the street, where it counts. I honestly apologize. I obviously judged to early. But looking at your profile: you are pretty new here and you have some strange url in your signature, I thought it was some get-free-bitcoins-referal-link(I don't click on every url I see), combined with your implicit statement that (short time) Bitcoin Price matters set up the "oh, damn, another newbie"-alarm. |
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I don't think, Satoshi will cash out for 3 reasons:
1. Satoshi must have had a good education and a lot of time to invent Bitcoin. So, I think, he is already in a good financial state. I just see him as a person, who is happy with what he already has.
2. Cashing out, could really harm Bitcoins. I don't think a person who but that much effort into a project(might even be his life work) would risk that. I think, if he wanted to use his knowledge to get a lot of money, he would have found an easier way.
3. There were already good points in history to cash out, he could already have made some millions if he wanted to
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OP just seems like another one of this people who wants to get rich quick.
If you want Bitcoin to succeed the exchange price is not important. The important thing is, that people can use bitcoins and get used to using it.
Success is about gaining acceptance.
Vendors will keep more and more of the bitcoins they earn eventually .
And don't worry, the exchange price will follow eventually.
But that is a slow process.
If you want to get rich quick, you can try daytrading, but that is a big risk and I personally wouldn't recommend it.
OP is at least pushing bitcoin to the masses. Eventually won't happen by doing nothing. Introducing bitcoin to new merchants through videos is IMHO brilliant. First they convert their bitcoins to fiat, but while they learn more and more about bitcoin, will begin to understand it and try it out themselves. Slow process indeed, but some of people in crypto space are taking actions. As I see OP has bitcoin payment processor and foursquare style map means easybitz is here for a long term Did OP make that video? I thought he just found it on YT. But sure, if he did, kudos to him |
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Hi there guys  How much it took you to get to this rank , Year & half or something ? its random I know between x & x activity  Legendary: Activity: the Legendary membergroup has no universal activity requirement.
You are guaranteed to become Legendary somewhere between 775 and 1030 activity,
but the exact point in this range at which you become Legendary is random per user.
Gets 5 gold coins under his name of which the last is half dark blue.
The activity number is determined in this way:
time = number of two-week periods in which you've posted since your registration
activity = min(time * 14, posts)
Activity is updated every hour. So, that makes (at least) about 2 years and 2 months |
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I am still wondering about the fees involved: Here they say, it is 3% for foreign currency, but what does that even mean, since USD is also a foreing currency, when you have bitcoin in your wallet? I thought they are just taking the BTC-price of the currency and take a 1 % fee, like stated here: http://help.xapo.com/94070-does-xapo-charge-a-fee-to-make-a-depositor does the 1% just apply when you buy Bitcoin, not when they convert bitcoin for you so you can pay with fiat? |
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What do you need a debit card for?
Just install a bitcoin client and go to an exchange to buy some bitcoins.
As long as you don't need bitcoin instantly, I wouldn't use anything else than an exchange to buy bitcoins(mostly takes about 2 days to get your bitcoin).
I need it for payments in all eshops which dont accept bitcoin. Eshop accept just regular credit/debit card. oh, ok, sorry, I got this wrong. So, you load a debit card with bitcoins and when you pay with it, a third party converts that into USD? I still don't get the advantage of that system. Wouldn't the third party still take their cut? Why not just load a debit card with USD? Hope this explains..the cost advantage is when u use it abroad..and/or in non US$ countries https://bitcointalk.org/index.php?topic=736643.msg8554196#msg8554196vs https://bitcointalk.org/index.php?topic=775185.msg8743918#msg8743918Thanks. Are you involved with Vapo? I was asking about, if you can really save money by using Bitcoins when you are in another country, some time ago in a new thread, but didn't really get an answer. Do you maybe know, of some real case studies? The theory always sound nice, but I would be more interested about experiences people really made. (I am also from an EUR-country so maybe something that involves EUR. ) |
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why he disappear ? is he dead ? i don't find any reason that's why he disappear...if he comes future he will be ask to proof himself it would be awesome if he back to this forum with a topic like "time is over for hiding".
As far as I got the story, Satoshi is just not that of a people person(might even have some mental illness like many geniuses), so he couldn't handle too much publicity. When he saw, that he wasn't needed anymore, it was time for him to complete step down, I wouldn't even say, he terminated the entity Satoshi completely. I doubt, that he will ever come back. |
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What do you need a debit card for?
Just install a bitcoin client and go to an exchange to buy some bitcoins.
As long as you don't need bitcoin instantly, I wouldn't use anything else than an exchange to buy bitcoins(mostly takes about 2 days to get your bitcoin).
I need it for payments in all eshops which dont accept bitcoin. Eshop accept just regular credit/debit card. oh, ok, sorry, I got this wrong. So, you load a debit card with bitcoins and when you pay with it, a third party converts that into USD? I still don't get the advantage of that system. Wouldn't the third party still take their cut? Why not just load a debit card with USD? |
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