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Ok. I made 15 records to my KGB notebook. See you soon gentlemen.
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Everybody lies here
Fck, not me, I swear  |
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И вот те на - деньги с КИПРа начали эвакуировать через BITCOINs.
Товарисч, забыл опохмелиться сегодня? |
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When will you start selling all your bitcoins, assholes? I want to buy some more at below $30  |
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Yeah, I also sold all bitcoins today (all 1318) and set buy order at $27. See you soon, suckers |
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Suppose, you have equipment to produce ASICs. Why would you want to sell those ASICs to anybody instead of mining bitcoins and other coins yourself? Is mining such an unprofitable thing?
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I hate my life.
Be the man. Enjoy1  |
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I have not checked out Freicoin, I heard something bad like its either premined/dead/51%'ed/scam or something of that sort but probably worth a look considering all the BS flying around on these forums.
No, they are not premined or dead (they are younger then ppcoin by few months), and they are definitely not scam. They are trying to address some economic and social aspects of cryptocurrency, and they are definitely not morons. |
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Does anyone anywhere track the growth of retail establishments, whether on-line or brick and mortar, accepting Bitcoins? I would assume that the longevity of Bitcoin would depend on it's eventual fulfillment as a utility to make common, everyday purchases.
I agree with your assumption, and I doubt that rise in bitcoin value matches the increase in goods and services which you can buy for btc. A lot of people are buying bitcoins now just to sell them for fiat in the future. And they will begin to sell soon, because there is nothing else to do with them. And this is when bitcoin value will fall back to adequate level. |
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I'll admit I don't know enough technical details to really comment on how 'future-proof' PPCoin is, but my point was that it was an actual alternative that provided enough differences in ideology and code to serve as a real Plan B if the whole Bitcoin experiment met a critical flaw.
Did you check freicoin? They also seem to try addressing same problems which you mention here, but different way. So, it is also not just a clone of bitcoin. |
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We all agree to a set of rules basically. These rules are enforced by the software we use. If we try to change our software to use different rules then everyone else on the network would ignore our changes and thus we'd not be part of the bitcoin network anymore but rather our little worthless fork. The rule in question here is that the reward for creating a block is halved every 210,000 blocks found. Unless something is changed (and we all agree on it) then eventually the reward will go down to 0 (since bitwise shifts are used to do the halving). I put this blurb together to illustrate it for myself http://nandbit.com/bitcoin/rewardAfter the block reward goes to 0 (~120+ years from now) then people will still need to mine in order for transactions to be processed. The only gain from doing so will be the transaction fees people pay when they send bitcoins. Miners could simply choose not to include transactions with too low of fee if needed in order to justify mining at that point. Thanks for explanation! |
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If you do not like 0.1 BTC call it 100 mBTC then, or if you really want to feel rich call it 100,000 uBTC!
Why such a half measures? Call it 10M satoshis! Feel like a millionaire!  |
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Yes, they do not want to risk their ass. They better just cancel the bargain. So many people want bitcoins this days that it is a pain in the ass to get them for fiat. Try something else. May be work for bitcoins?
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You observations are very good. But they don't tell anything about hoarding rate. All this would happen if number of bitcoin users increase, or number of hoarders increase. To hoard a bitcoin you need to make a number of transactions. A miner should sell it because he needs to pay off his loan for mining hardware as soon as possible. He needs to transfer his bitcoins to exchange, then a buyer needs to transfer them to his wallet. And those who care about safety and anonymity would pass their btc several times to different wallets. From your plots, you do not know, what exactly happened with those bitcoins: where they spent for goods, or did they make their tricky way to offline saving wallets. The use of bitcoins as currency definitely increases, you hear it on the news lately, but I strongly suspect that hoarding increases at much higher rate. I do not have any strong arguments for or against this assumption though, except conversations with friends who buy bitcoins and ASICs just to hoard. |
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Yes...I'm sure all the bitcoin retailers are just loathing the dramatic increase in the price of the bitcoins that they are receiving
Although a rapidly rising commodity brings smiles to all faces who are holding it, it also discourages people holding it for exchanging it for goods, services, and indeed Fiat currency. Now, this is when things are on the way up. On the way down, the volatility will destroy people using Bitcoin for real world economic transactions. Either way, the volatility cannibalises that which underpins the basis of the whole 'value' of Bitcoins. Seems like there are a lot of smug types around here who think the whole Bitcoin universe's behaviour is running in accordance with their own personal simple world paradigm of how things should work. My word of warning to such people is that they should perhaps consider the possibility that perhaps they are not as smart as they think, and that perhaps they have merely got lucky, inadvertently hitching a ride on a dragons tail wings. True, that dragon may soar and spiral ever higher into the heavens, taking everyone with it along for the ride. But when that dragon dives, it will nose down right into the flames below, revealing to everyone, their false illusions regarding what is driving Bitcoins. Do people forget what happens when market value far exceeds the underlying assets supporting it? Housing crash 2008 anyone? One thing that I could safely bet my own house on, would be that the market value of Bitcoins, is exceeding the underlying economy which supports it, by an order of several magnitude at the moment. For anyone to 'invest' in Bitcoin now for purposes of speculation, they would be doing so on the premises of 'greater fool theory' (a bigger fool than themselves will come along and pay even more than they did at some point in the future). As for the posts I have seen where people are discussing putting their pension funds into Bitcoin...OYF!  +1 |
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Re: price swings and how they affect merchants - there's a menu cost. You need to change your price as BTC moves around since your inputs are likely denominated in your local currency, but your output is priced in BTC.
Keep your menu price in local currency, use a local currency quote at time of checkout. It's not rocket science. fixed |
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I'm holding until there is stability or I can afford to buy that private island in the tropics.
How would you convince aborigines chief to give you that island? You show him your paper wallet instead of glass jewelry?? |
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