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Steve
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September 06, 2012, 02:38:50 AM |
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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Daily Anarchist
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September 06, 2012, 03:01:30 AM |
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It's a legitimate question. Square has attracted over $200 million dollars in venture capital in the two years since it was launched and is now being used at Starbucks. Dwolla has also attracted major investors and become a viable alternative to PayPal.
There are payment systems coming out right and left which are getting serious development funding and merchant adoption, yet there's really no serious money being directed towards solving the issues which create barriers to Bitcoin's acceptance as an alternative, mainstream payment method. People are expected to put time and effort into solving those issues out of idealism, which puts Bitcoin behind the other technologies which are targeting similar markets.
Bitcoin is not "user-friendly" for conventional business at the moment and it's not going to enjoy wide-spread adoption while it's cumbersome to acquire, to store, to spend or to exchange. It's not going to become user-friendly any time soon unless people are paid to develop solutions.
The reason Bitcoin is the future isn't because of its efficiency. Things like square are mere bandaids for a dying system. The reason Bitcoin will trump everything else is because it is a sound currency, unlike all things fiat. |
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paulie_w (OP)
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September 06, 2012, 03:24:52 AM |
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It's a legitimate question. Square has attracted over $200 million dollars in venture capital in the two years since it was launched and is now being used at Starbucks. Dwolla has also attracted major investors and become a viable alternative to PayPal.
There are payment systems coming out right and left which are getting serious development funding and merchant adoption, yet there's really no serious money being directed towards solving the issues which create barriers to Bitcoin's acceptance as an alternative, mainstream payment method. People are expected to put time and effort into solving those issues out of idealism, which puts Bitcoin behind the other technologies which are targeting similar markets.
Bitcoin is not "user-friendly" for conventional business at the moment and it's not going to enjoy wide-spread adoption while it's cumbersome to acquire, to store, to spend or to exchange. It's not going to become user-friendly any time soon unless people are paid to develop solutions.
The reason Bitcoin is the future isn't because of its efficiency. Things like square are mere bandaids for a dying system. The reason Bitcoin will trump everything else is because it is a sound currency, unlike all things fiat. that has nothing to do with what he's talking about. |
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Daily Anarchist
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September 06, 2012, 03:30:22 AM |
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It's a legitimate question. Square has attracted over $200 million dollars in venture capital in the two years since it was launched and is now being used at Starbucks. Dwolla has also attracted major investors and become a viable alternative to PayPal.
There are payment systems coming out right and left which are getting serious development funding and merchant adoption, yet there's really no serious money being directed towards solving the issues which create barriers to Bitcoin's acceptance as an alternative, mainstream payment method. People are expected to put time and effort into solving those issues out of idealism, which puts Bitcoin behind the other technologies which are targeting similar markets.
Bitcoin is not "user-friendly" for conventional business at the moment and it's not going to enjoy wide-spread adoption while it's cumbersome to acquire, to store, to spend or to exchange. It's not going to become user-friendly any time soon unless people are paid to develop solutions.
The reason Bitcoin is the future isn't because of its efficiency. Things like square are mere bandaids for a dying system. The reason Bitcoin will trump everything else is because it is a sound currency, unlike all things fiat. that has nothing to do with what he's talking about. The point I clearly didn't make is that it's no surprise that Starbucks accepts things like Square because those are just improved technologies propping up the status quo. Bitcoin is helping to build an entirely new economic model from the ground up. |
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repentance
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September 06, 2012, 03:47:33 AM |
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The point I clearly didn't make is that it's no surprise that Starbucks accepts things like Square because those are just improved technologies propping up the status quo.
Bitcoin is helping to build an entirely new economic model from the ground up.
Square plans to disrupt the retail payments market. Merchant acceptance is what will bring users onboard. There's no expensive infrastructue so merchants can adopt it with little risk. It's becoming a common strategy. Bitcoin will only ever be a niche currency until it's user-friendly - no matter how sound it is. It could be being used as a leap frog technology in developing nations right now if it wasn't so cumbersome. More user-friendly systems requiring only a smartphone already exist - Bitcoin needs to lift its game if it wants to compete in the payments market and not just be a speculative commodity until something shinier comes along. |
All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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finkleshnorts
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September 06, 2012, 04:03:29 AM |
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Well folks, that is how you spin a quote out of context. |
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Yankee (BitInstant)
Legendary
 Offline
Activity: 1078
Merit: 1000
Charlie 'Van Bitcoin' Shrem
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September 06, 2012, 04:06:00 AM |
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That said... stay tuned, and I'll say more when I can.
oh my god we just figured out the announcement!
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Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer. More about me: http://CharlieShrem.com |
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finkleshnorts
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September 06, 2012, 04:08:59 AM |
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That said... stay tuned, and I'll say more when I can.
oh my god we just figured out the announcement!
A government is funding bitcoin development! ITS CANADA!!!! |
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Yankee (BitInstant)
Legendary
Offline
Activity: 1078
Merit: 1000
Charlie 'Van Bitcoin' Shrem
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September 06, 2012, 04:09:51 AM |
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That said... stay tuned, and I'll say more when I can.
oh my god we just figured out the announcement!
A government is funding bitcoin development! ITS CANADA!!!! lol you guessed it...Somalia decided to fund Bitcoin  |
Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer. More about me: http://CharlieShrem.com |
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finkleshnorts
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September 06, 2012, 04:11:29 AM |
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Haha who's the big backer? Some crazy old people organization? A politcal party? A rebellious business (virgin or ryanair?)?
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Bitcoin Oz
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September 06, 2012, 04:12:40 AM |
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That said... stay tuned, and I'll say more when I can.
oh my god we just figured out the announcement!
A government is funding bitcoin development! ITS CANADA!!!! The US has a secret government run by the CIA  Plus they have a venture capital firm for it. |
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paulie_w (OP)
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September 06, 2012, 04:33:03 AM |
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I've said that I think the download-and-install-software-on-your-PC is a mostly-dead way of using software, and that the vast majority of people using Bitcoin in a year or three will be using it via a web application or on their smart phone. That's half of the reason why I don't think improving the UI is a high priority right now (the other half is because I think solving wallet security and backup issues is critical).
people have been saying that for years and years already. i hope it isn't true. |
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The_Duke
Sr. Member
Offline
Activity: 252
Merit: 250
Lead Core BitKitty Developer
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September 06, 2012, 06:28:22 AM |
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Haha who's the big backer? Some crazy old people organization? A politcal party? A rebellious business (virgin or ryanair?)?
Somalia = Pirate(s). Guess it all makes sense now. |
NOT a member of the so called ''Bitcoin Foundation''. Choose Independence!
Donate to the BitKitty Foundation instead! -> 1Fd4yLneGmxRHnPi6WCMC2hAMzaWvDePF9 <-
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repentance
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September 06, 2012, 06:44:11 AM |
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I've said that I think the download-and-install-software-on-your-PC is a mostly-dead way of using software, and that the vast majority of people using Bitcoin in a year or three will be using it via a web application or on their smart phone. That's half of the reason why I don't think improving the UI is a high priority right now (the other half is because I think solving wallet security and backup issues is critical).
people have been saying that for years and years already. i hope it isn't true. I think Gavin's essentially right about the future of software but has over-estimated the time-frame. People want the same kind if usability on their smartphones and tablets that they have on their laptops and PCs but they want it now, not in 2 or 3 years. People don't their computing to be tied down by location any more than they want their telephony to require physical proximity. There may be congestion issues with mobile computing at the moment, but people are still abandoning fixed internet connections in favour of mobile broadband and phone and tablet computing in droves. All many people need to make the switch total is some killer apps, and that will happen sooner rather than later. |
All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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Fluttershy
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September 06, 2012, 07:05:00 AM |
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Bitcoin is a labor of love, they do it because they want to take power away from the big banks and big government.
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HorseRider
Donator
Legendary
Offline
Activity: 1120
Merit: 1001
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September 06, 2012, 08:03:15 AM |
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I think the best way to pay the developers is to invest some time and money to make sure that anyone who has contributed will be remembered. The psychological incentive is more meaningful than money.
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16SvwJtQET7mkHZFFbJpgPaDA1Pxtmbm5P
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HostFat
Staff
Legendary
Offline
Activity: 4214
Merit: 1203
I support freedom of choice
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September 06, 2012, 08:09:37 AM |
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I think the best way to pay the developers is to invest some time and money to make sure that anyone who has contributed will be remembered. The psychological incentive is more meaningful than money.
* |
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interlagos
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September 06, 2012, 09:57:14 AM |
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That said... stay tuned, and I'll say more when I can.
oh my god we just figured out the announcement!
A government is funding bitcoin development! ITS CANADA!!!! The US has a secret government run by the CIA Plus they have a venture capital firm for it. Now that they've acquired a good portion of Bitcoin economy (Pirate was a CIA agent) they can announce support for it => profit!  |
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Dice
Member
Offline
Activity: 69
Merit: 10
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September 06, 2012, 11:59:30 AM |
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What would be cool is if mining pool's gives the option to miners to donate some funds to a shared developers bitcoin wallet.
Then at the end of each release, the funds inside that address will be automatically divided equally based on criteria possibly such as:
1) the number of commits
2) number of lines written
3) Im not sure if its possible to gauge the severity or importance of a fix.
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paulie_w (OP)
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September 06, 2012, 12:48:19 PM |
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What would be cool is if mining pool's gives the option to miners to donate some funds to a shared developers bitcoin wallet.
Then at the end of each release, the funds inside that address will be automatically divided equally based on criteria possibly such as:
1) the number of commits
2) number of lines written
3) Im not sure if its possible to gauge the severity or importance of a fix.
those qualifiers are not good signs of quality or useful code. but what about the idea of bounties for features? actually i'm not a huge fan of that either, at least not by itself. i really think we should let the devs figure out how they want to break up the money. we just need to give it to them. |
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