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Author Topic: [2014-10-06] Bill Gates: Bitcoin Is 'Better Than Currency'  (Read 5050 times)
Mitth (OP)
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October 07, 2014, 08:15:36 AM
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Bill Gates: Bitcoin Is 'Better Than Currency'

Quote: After long remaining mostly mum on Bitcoin, Microsoft’s legendary co-founder Bill Gates has spoken. At the Sibos 2014 financial-services industry conference in Boston, America's richest man just threw his weight behind the controversial cryptocash. ... “Bitcoin is better than currency in that you don’t have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient."

http://www.entrepreneur.com/article/238103

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Transactions must be included in a block to be properly completed. When you send a transaction, it is broadcast to miners. Miners can then optionally include it in their next blocks. Miners will be more inclined to include your transaction if it has a higher transaction fee.
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October 07, 2014, 10:43:52 AM
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I agree with Mr. Gates, and I think that the biggest advantage is that you can spend it anytime you wish and the person or company on the other end can get the money within about 10 minutes. Companies want to make money, so this is a way for them to get money quicker.


...loteo...
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October 07, 2014, 01:11:43 PM
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Nice to see Gates endorsing what is obvious to most of us here.

I just had an eye-opening reminder of the slow pace of change - I had to order equipment from a company a thousand miles away. We have been corresponding by email. I told them I could pay with Visa, M/C, PayPal, cheque, or BTC (hint, hint). They replied that they would only accept a certified cheque. Stone-age stuff, which entailed driving to a bank in the nearest town, (re)discovering that banks do not open until 10 a.m., taking money out of my account (no recourse) and soon I must entrust it to snail mail for a few days (what could go wrong?). If all goes well, the company will eventually get the piece of paper (certified cheque) in the mail and physically take it to their bank. Very quaint!

I will tweak their noses by emailing them a scanned image of the cheque before I mail it. Perhaps it will get them thinking that there might be a better way to do business.

It will take a while for the world to catch up to Gates, and it will take a while for Gates to catch up to bitcointalk posters on crypto issues.

Mediocre is the enemy of good. Good is the enemy of better. Today's problems are yesterday's solutions. Ain't it awful!          Wink
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