I guess this is a good thing if is protected by the bitcoin blockchain but it can be a bad thing if it is to be protected by a private blockchain.
All blockchains are private. And since this would be sensitive information, you would not want the data to be available to anyone. Besides, people should not use BTC's blockchain for things it wasn't designed for. There's been one guy who registered the birth of his kid on the blockchain, another one who used it for his marriage... Hey come on, this has to stop! If everyone starts using the blockchain to store his personal info, BTC is doomed. |
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There was a topic about this subject a year ago already. Makes me think my situation hasn't changed. If I die tomorrow, my BTC are lost forever. The only people I trust enough to share my wallet with are not computer-savvy and they told me several times I should stay out of BTC. So unless I meet some new people who I could trust and who are interested, nothing will change.
My BTC would just add to the ever growing sum of lost BTC.
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Incredible! There's people writing entire books on minor altcoins. I can't imagine there will be many people buying a single one. I wouldn't read them even if they were free to download. Perhaps the books were written by the same people who invented those altcoins, just as a promotion tool.
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I was watching a TED talk the other day that mentioned how Bitcoin or other cryptocurrencies could be used as a way to bring transparency to political campaigns, welfare, government/state expenses and other similar areas. We as tax payers will be able to know exactly how much money is allocated for each area and how it is used.
I was thinking also that this could also become the norm for donation centers, foundations and charities.
What do you guys think?
No. BTC would not change anything, and BTC would not give more information. Most citizens don't bother looking but most countries and big charities have all accounting books open to the general public. I think the most open is the UK. It launched the open government initiative a few years ago, and everyone can check what's going on. http://www.opengovernment.org.uk/https://data.gov.uk/It's very boring to look at, but it's all there if you're willing to take the time to search properly. |
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I feel concerned because I've been living in Koln. It's a beautiful city, and usually quiet. I was there 6 weeks last Spring, and everything was nice. On a Saturday night, I remember watching the police arresting some drivers because they had oversized wheels on their cars. Near the station, there were some left-wing anarchists drinking beer, begging and sleeping on the street, but there were not making any trouble.
I can't understand how things have changed so much in so little time.
From the German press I've read, there's no cover-up, only some politicians trying to minimize the facts.
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Hey, don't panic! This is just a proposal and the German government has much more important issues on its agenda right now. Besides, Germany is one country where cash still rules. You go to a supermarket, most people use cash, and that's the same if you buy an used car. If price is €10,000, the seller will expect the buyer to give him nothing else but banknotes.
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I guess he should have bought several washing machines instead of several guns. If each member of the family had had his own washer, nothing would have happened. This should be an easy way to reduce crime. Of course, everyone should also have his own detergent. There'll we more murders otherwise.
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This isn't a problem at all. BTC is just like everything else. Some people own 10 houses, but millions are homeless. Jay Leno owns more than 100 cars, while millions don't have any. This is the world we live in. BTC will change how we handle money, but it won't change the world.
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I don't see a problem with the 10 minutes delay. My email software checks for new mail every 10 minutes, and that's fine. I guess it isn't an issue with remittance either. The problem really is in the number of transactions.
There are over 100,000 transactions every day now, I wish, and I guess we all need BTC to be able to handle 100,000 transactions per hour.
200,000 averagebut lets say a person wants to do 1 remittance a week.. thats only 1.4million people doing it, to equate to 200,000 a day. so we do need to increase capacity to allow upto 192million people (the world remittance population) along with making it cheap to actually do remittance. so im kind of glad that right now its more expensive to remit from fiat-btc-fiat right now, because bitcoin blocks would bottleneck with huge amounts of people using it before its ready to cope with capacity, i would say that if bitcoin could scale to just 19mill users, then it would be a success, taking 10% of the remittance market, but that requires a 15mb block limit, so i dont expect that any time soon. but 15mb is more achievable eventually compared to 24mb (daily usage per day * 24 hours) to get similar tx but hourly instead of daily 19 millions users, that's nice but it's a bit far-fetched to talk about a goal in a market where BTC still hardly exists. I prefer to set an objective in terms of transactions per hour, or per day. We should focus on what needs to be done to allow the number of transactions to grow ten-fold. So that's 2 millions per day, or perhaps 100,000 transactions per hour. With the coffee issue set aside, so the 10 minutes delay isn't a problem. |
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Iceland might a smart choice. Just tell the people BTC isn't linked to any government, that should please many out there. Some lost a fortune after the 2008 crisis, their whole life savings which were in the bank just vanished, with the government the only one to blame. So don't think about lobbying the government, convince the people!
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So even with coffee out of the equation, the block size problem remains on the table.
So let's discuss the block size problem. Currently the Bitcoin network can only support around 7 TPS (transactions per second) but you need to realise for a start that it is not "actually 7 txs per second" as a new block only gets created on average every 10 minutes (so a merchant can't expect a payment confirmation in seconds). So no matter how much bigger you make the blocks you don't solve the 10 minutes problem (so the X txs per second are actually not *real* txs per second and never will be). The very design of Bitcoin stops it from being like VISA and this is the point that I have been trying to make. I don't see a problem with the 10 minutes delay. My email software checks for new mail every 10 minutes, and that's fine. I guess it isn't an issue with remittance either. The problem really is in the number of transactions. There are over 100,000 transactions every day now, I wish, and I guess we all need BTC to be able to handle 100,000 transactions per hour. |
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100 millions users?
How about reaching 10 millions users before?
The 10 millions wallets don't prove anything. I, for one, own 10 wallets, with accounts at 3 exchanges, and 3 wallets at blockchain.info. I've never seen anyone who only has one wallet.
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There's something I don't like. I'm surprised nobody noticed it already. On the front page of uphold.com, I read: "Your money. Secure in the cloud." I didn't know the cloud was secure. Is it really?
I like the fact that the website is in 8 languages, though.
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I don't expect much from new services. I'd rather see old, successful and established services, such as Fiverr, Upwork or Amazon, accepting BTC.
I like the idea of Openbazaar, though, and I may join it as a professional but it would take years before it will gain success.
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I don't have a smartphone, and the last time I drank coffee was the 9th December of 1973 (I hated it). So I'm all in favor of restricting BTC to serious payments like remittance, but that's a big market. Millions use remittance services every week, and as a very small business owner, I'm making at least one bank transfer each week. So even with coffee out of the equation, the block size problem remains on the table. You just need to look at the average number of transactions per day. How many are for coffee?
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I've lost some satoshis which I got from a faucet, on the very first days I discovered BTC, and when I was trying the different clients. I misunderstood how Armory was working, and those satoshis are lost forever. I'm much more cautious now, and I've never gambled.
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Frankly, I don't care at all if BTC is legal or not. Why should it matter? Drugs are illegal in most places, but that doesn't prevent millions from using them. Then, what's law? In some countries bigamy is forbidden, in some others it's legal. Just like sex with minors. Or income tax, which doesn't exist in some countries. People living in places where BTC is illegal always have the option of moving out if they fear being caught.
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Gift cards are a great idea.
One company I worked for a few years ago was giving gift cards to all employees and most liked it. Some even traded them. I remember they had a validity date, I think it was the calendar year.
The problem is that it would be a very risky move for a retailer. If he agrees to it when BTC is $400 and the customer wants to use it 6 months later with BTC at $1,000, the retailer won't be happy.
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I'd rather ask one question:
Will BTC grow in 2016?
If 2016 brings more BTC users and more BTC transactions, it will be a good year. That's all I want. Growth. Market will take care of the rest, with more stores and more opportunities to spend BTC all over the world.
User adoption is the most important for the bitcoin growth. More user, more use means higher value for bitcoin. yeah but the problem is the market. it doesnt matter if there are more users, if there is no market, there will be no growth. Exactly the market will play a key role in the year 2016, if people have money they would surely think to invest into bitcoins and if they don't they would surely avoid the option of investing into bitcoins, but yes if adoption is good then there are chances that bitcoin will grow or else it would surely fall down. More users will be enough to convince new investors and merchants. Look at electric cars or smart watches. There are more and more people owning one of those, and more and more companies are offering new services to please them. |
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