Simple A or B choice

[rtdrury]

Simple choice of no hassle versus total hassle:

If Bitcoin is non-profit, fees are near-to-zero, speculation is banned, then it becomes a highly valuable tool for the people. A very simple concept, a very simple tool, stable/predictable, zero-risk, like many other tools you depend on and take for granted in everyday life (e.g. a soup bowl, a soup spoon)

But when you allow unfettered freedom to impose fees, and turn the exchange into a speculation casino royale, then all of a sudden the value as a tool to simplify your life is dealt the death blow.  Then the regulators step in. Then you don't know who is your friend or enemy.  No way to trust anybody so you trust nobody.  Then the vultures start picking at you.  Etc, etc, ad nauseam.

So, create a truly non-profit exchange and require trust among participants, i.e. I declare that I will use the exchange only for legit business, and my privilege to use it depends on my trustworthiness.  This is the only approach that works, ending the debate forever.  It's YOUR choice.

[jonald_fyookball]

You can't stop speculation and it's an anti freedom idea.  Volatility is a natural part of any financial instrument.

[jc01480]

Just what I needed.  Someone else telling me what to do.   

[Bit_Happy]

You can't stop speculation and it's an anti freedom idea.  Volatility is a natural part of any financial instrument.

Also without "volatility" and speculators one or two pizzas would still cost 10,000 BTC.
Let freedom rule...

[twiifm]

If you want people to use it as a currency then it should be spent not hoarded

[franky1]

you cant stop speculation, but the bitcoin devs need to cut out the transaction fee. as this does not get to miners pockets. only mining pools. along with mining pools taking a 1% cut out of miners reward, and along with pool owners keeping the merge mined coins they do secretly.

so who is benefiting from transaction fee's... only pool owners.
so are transaction fee's needed... no 25BTC is more then enough to share, and if the sell price of their share is low, they should hoard to cause a positive value for money price change for bitcoin, instead of dumping.

so is the transaction fee needed for consumers no.
by stopping mining pool owners getting picky over transactions and simply allowing all transaction in.. trust me they can all fit in the 1mb limit per 10 minutes. then bitcoin will be more useful for microtransactions. and bitcoin will gain more usefullness, and value.

remember transaction fee's are only there because mining pools want them there. if mining pools just accepted all transactions and done the proper work they are suppose to be doing to get rewarded with 25BTC. then that is what i call doing their job properly.

but right now. a century before rewards disapear, mining pools should not be asking for a subsidy, just to do one task. making transaction blocks. they should not 'go on strike' by deliberately ignoring transactions.

rant over

[fusecavator]

you cant stop speculation, but the bitcoin devs need to cut out the transaction fee. as this does not get to miners pockets. only mining pools. along with mining pools taking a 1% cut out of miners.

so who is benefiting from transaction fee's... only pool owners.
so are transaction fee's needed... no 25BTC is more then enough to share, and if the sell price of their share is low, they should hoard to cause a positive value for money price change for bitcoin, instead of dumping.

so is the transaction fee needed for consumers no.
by stopping mining pool owners getting picky over transactions and simply allowing all transaction in.. trust me they can all fit in the 1mb limit per 10 minutes. then bitcoin will be more useful for microtransactions. and bitcoin will gain more usefullness, and value.

remember transaction fee's are only there because mining pools want them there. if mining pools just accepted all transactions and done the proper work they are suppose to be doing to get rewarded with 25BTC. then that is what i call doing their job properly.

but right now. a century before rewards disapear, mining pools should not be asking for a subsidy, just to do one task. making transaction blocks. they should not 'go on strike' by deliberately ignoring transactions.

rant over

Transaction fees are necessary for spam control. Without them it would be easy for attackers to bloat the blockchain sending tons of transactions to themselves, and transactions from normal users would have trouble going through, as the limit per block could be fully used up every time, and there would be no way of prioritizing transactions over the spam ones.

[amspir]

Simple choice of no hassle versus total hassle:

If Bitcoin is non-profit, fees are near-to-zero, speculation is banned, then it becomes a highly valuable tool for the people. A very simple concept, a very simple tool, stable/predictable, zero-risk, like many other tools you depend on and take for granted in everyday life (e.g. a soup bowl, a soup spoon)

But when you allow unfettered freedom to impose fees, and turn the exchange into a speculation casino royale, then all of a sudden the value as a tool to simplify your life is dealt the death blow.  Then the regulators step in. Then you don't know who is your friend or enemy.  No way to trust anybody so you trust nobody.  Then the vultures start picking at you.  Etc, etc, ad nauseam.

So, create a truly non-profit exchange and require trust among participants, i.e. I declare that I will use the exchange only for legit business, and my privilege to use it depends on my trustworthiness.  This is the only approach that works, ending the debate forever.  It's YOUR choice.

I'm a bit confused, are you saying total regulation to prevent some regulation?

[Alonzo Ewing]

Speculation is essential to Bitcoin's success.  Without speculation, only a few nerds would be trading it back and forth; it's value would be about $.005/BTC.

Simple choice of no hassle versus total hassle:

If Bitcoin is non-profit, fees are near-to-zero, speculation is banned, then it becomes a highly valuable tool for the people. A very simple concept, a very simple tool, stable/predictable, zero-risk, like many other tools you depend on and take for granted in everyday life (e.g. a soup bowl, a soup spoon)

But when you allow unfettered freedom to impose fees, and turn the exchange into a speculation casino royale, then all of a sudden the value as a tool to simplify your life is dealt the death blow.  Then the regulators step in. Then you don't know who is your friend or enemy.  No way to trust anybody so you trust nobody.  Then the vultures start picking at you.  Etc, etc, ad nauseam.

So, create a truly non-profit exchange and require trust among participants, i.e. I declare that I will use the exchange only for legit business, and my privilege to use it depends on my trustworthiness.  This is the only approach that works, ending the debate forever.  It's YOUR choice.