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Author Topic: Price of bitcoin in 5 years? plus explanation not a gambling thread.  (Read 4014 times)
ElectricMucus
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November 03, 2013, 10:07:22 AM
 #41

What you are saying the problem will not arise because of altruism (which is running a node without a financial incentive)
People running a node because they provide some sort of service and do not mine might want to sell their transaction data.

No, I'm not suggesting that altruism will prevent this from becoming a problem.

Mining and altruism are not the only two reasons to run a full node.

In fact, I would suggest that neither of them are the main reason for someone wanting to run a full node.

Missed the third reason?

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
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zebedee
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November 03, 2013, 11:41:56 AM
 #42

Everyone realizes it will have to be raised at some point. It is essential to keep it low as long as possible only raising it multiple times as it is absolutely necessary.

Er, why?  You do realize that, because 1MB is way too big to be a practical constraint at the moment, that it might as well not exist.  And yet, we've all been getting along just fine without a central diktat as to what we should be doing?

It's amazing how, when left to their own devices, people just figure things out and get on with it, like adults.
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November 03, 2013, 03:13:41 PM
 #43

If the value of bitcoin is the same in 5 years that it is now, it will likely have out-performed all fiat currencies.  If it is the same in 20 years, it almost certainly will have done so.  That alone makes it a bargain at today's prices.

How rational is the exuberance?

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November 03, 2013, 04:55:06 PM
 #44

If the value of bitcoin is the same in 5 years that it is now, it will likely have out-performed all fiat currencies.  If it is the same in 20 years, it almost certainly will have done so.  That alone makes it a bargain at today's prices.

How rational is the exuberance?

“The market can stay irrational longer than you can stay solvent.” - John Maynard Keynes



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