The Bitcoin decimal issue

[Ichthyo]

Thats true.
A new payment system needs to create an incentive for using it, because the network-effect of the existing payment systems works against adapting a new one. In this sense, the act of hoarding bitcoins to profit from the rate gains helps to bridge the time until there is more utility for bitcoins as a payment medium.

But it might be a problem that the bitcoin rates may continue to rise even at a point, where Bitcoin doesn't need such a supporting mechanism anymore, since it has already wider adoption. Now you might argue that such continuously rising rates simply reduce the usability of Bitcoin, and thus help to limit the demand and moderate the price rise. This is certainly true, but in practice, this process can be expected to be rough, not smooth, and will create a lot of adaptation issues, for which we (Bitcoin users community) don't have a working solution to deploy.

But I think, these are technicalities, not a fundamental issue.

[wingding]

But I think, these are technicalities, not a fundamental issue.

It is fundamental -not technicalities. Read my op. And try to get it this time.

This is certainly true, but in practice, this process can be expected to be rough, not smooth, and will create a lot of adaptation issues, for which we (Bitcoin users community) don't have a working solution to deploy.

So "you" (Bitcoin user's community) don't have a solution? Really? What if "we" have? - but don't want to deploy it, because that would turn bitcoin into a currency instead of a commodity, and vaporize our get-rich-scheeme.

[btcusr]

There once was a man called Nakamoto. He printed a million coins. He was later joined by a few other guys who together printed yet a few million coins. Thereafter many people joined, but printing then became very difficult. Actually the printing press will slow down to zero. However, those guys who printed the first coins are willing to sell their coins to rest of the world. And if those other people of the world only can grab a fraction of a coin, don't worry - it can be divided by 10e8. Economy!

Even if satoshi and co. had millions of coins in the beginning it is worthless.

Then it was like, 1 million BTC = 100 - 200 pizzas.

Its not worth complaining. You'll learn to accept the fact, or you don't.

[Ichthyo]

It is fundamental -not technicalities. Read my op.

Hi wingdong, can you please say explicitly what you mean, instead of sending codes and allusions around?

Your op doesn't contain much substance, but shows a lot of misconceptions.
We have discussed this in breadth, and you received a full K.O and weren't able to answer anymore.
So we're done with your OP.


Up to now you haven't provided any meaningful statements, only confused and contradictory stuff.

But now you get your second chance:


you state, "it is fundamental"

OK now say why...

you state "there is an issue"

OK now describe it...

[Ichthyo]

There once was a man called Nakamoto. He printed a million coins. He was later joined by a few other guys who together printed yet a few million coins. Thereafter many people joined, but printing then became very difficult. Actually the printing press will slow down to zero. However, those guys who printed the first coins are willing to sell their coins to rest of the world. And if those other people of the world only can grab a fraction of a coin, don't worry - it can be divided by 10e8. Economy!

everyone please note: dont't fall for that bait.

This piece of text looks as if it implies a meaning.
When you have a more closer look, any tangible statement has been carefully omitted.
It's an invitation to the reader to interpolate a tendency, and as such it is insideous

[sidhujag]

There once was a man called Nakamoto. He printed a million coins. He was later joined by a few other guys who together printed yet a few million coins. Thereafter many people joined, but printing then became very difficult. Actually the printing press will slow down to zero. However, those guys who printed the first coins are willing to sell their coins to rest of the world. And if those other people of the world only can grab a fraction of a coin, don't worry - it can be divided by 10e8. Economy!

everyone please note: dont't fall for that bait.

This piece of text looks as if it implies a meaning.
When you have a more closer look, any tangible statement has been carefully omitted.
It's an invitation to the reader to interpolate a tendency, and as such it is insideous

You should take a hint, he doesn't want to be specific probably because of the way you attack others trying to show yourself as better than others. You're just like everyone else here and always will be, we won't know the truth until it is applied and we learn the outcome. The market is too complicated even for the smartest person to wrap every variable around in their head. Give it up kid, move on.

[Ichthyo]

he doesn't want to be specific probably because

There is no point in guessing about his motives, until OP actually presents something tangible.

And just for the record: the storrytellers and FUD spreaders where first in this funny thread.

[Ichthyo]

so the conclusion is:

There is no "Bitcoin decimal issue", since the storytellers weren't willing (or able) to point out any issue in a coherent fashion

[thermos]

But I think, these are technicalities, not a fundamental issue.

It is fundamental -not technicalities. Read my op. And try to get it this time.

This is certainly true, but in practice, this process can be expected to be rough, not smooth, and will create a lot of adaptation issues, for which we (Bitcoin users community) don't have a working solution to deploy.

So "you" (Bitcoin user's community) don't have a solution? Really? What if "we" have? - but don't want to deploy it, because that would turn bitcoin into a currency instead of a commodity, and vaporize our get-rich-scheeme.

yeah boy this is how it goes gown in the real world i say pull certs and flush out the bad actors give bitcoin back to the user base, what i find amazing is for bitcoin being an open sourced project that censorship is over the top in this neck of the woods NYC;)


http://www.youtube.com/watch?v=_tlhvFusnPI