Topic: Bitcoin Project will be making a major announcement in September - page 14. (Read 53390 times)

Ok, I take it back. Your the closest. Nuff said, Im gonna get shot for saying this much.

While I remain forever hopeful, I'm not counting on any national acceptance any time soon. The banks just won't let it happen. If Iceland were to unveil some kind of "roadmap" that involves Bitcoin, perhaps as a trial first, then as a second official currency, or perhaps they were to declare a safe-haven for bitcoin rights, the response could range anywhere from suicide bombings to submarines drilling nukes into the bedrock to blast the island out of the water...

Just look at what's going on around the world today. Remember when that guy, what's his name, Julian Assange was considered a hero all over the world for embarrassing the US gov't with Cablegate and whatnot? They got angry and even arrested some kid for doing the leaks, but Assange was basically untouchable. But then he announced some upcoming leaks regarding a "prominent US bank", and BAM! Rape allegations, "code red" alerts, Interpol investigations, international arrest warrants, the UK threatening to invade Ecuadorian soil... I guess that'll teach people to wear condoms!... And that was just ONE guy running a <$1million activist organisation, threatening just the ONE bank.

Ofc not. They need to print their own monies to buy back bonds. Cannot print bitcoins, so its not for them.

That would be a game changer, and BTC rate would skyrocket 10-100 times in matter of a week.
But nothing like this is going to happen.

My guess is simply that Greece will now be adopting BTC as their sole currency... a long shot perhaps... but one i'd like to see

One of the things I half expect to see is countries, businesses, games and many others issuing their own blockchains as a method of keeping internal accounts while making use of the system but if they don't link directly to bitcoin as a central currency it could all get very messy with alt chains printing money as it suits them and exchange rates up in the air. Hopefully Canada will consider that with their own digital currency and not stay stuck in the rut of the current fiat system.

My guess is simply that Greece will now be adopting BTC as their sole currency... a long shot perhaps... but one i'd like to see

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One under-appreciated aspect about alt-chains is that they can always to used to show skeptics (who were probably indoctrinated with ideas that a flexible money supply is essential, even though they usually can't explain why) that under a Bitcoin system, the money supply limits can be overridden if there's ever a real need for it. One common objection that I hear is that Bitcoin will have trouble scaling. As soon as millions of people try to pile onto the system, "there won't be enough coins to go round", or the network will overload or something else will break.

But let's think about it for a minute: if there's ever a massive burst of interest in Bitcoin (that might theoretically break something), some of that interest inevitably gets diverted into forks, clones, and new currencies! That's where the new money comes from. Sure, purists might argue that it wrecks the idea of hard, sound money, but that is wrong. New adopters knowingly buy-in to the new currencies, and no-one is forced to exchange their superior Bitcoins for those other, lesser currencies if they don't want to. Furthermore, this currency "eco-system" enables something that the Fractional Reserve system fails to do when it should, which is to reduce the money supply in a timely manner in response to real economic pressures. For example, if there's a contraction or loss of confidence, floating exchange rates will dynamically shrink the amount of money in the system. No intervention required!

Given that the exchange rate is free-floating (as it should be), changing the block reward from halving every 210,000 blocks to a constant 50 would probably not cause much difference at all.

But the speculation is moot... nobody's changing that part of bitcoin.

Easy there. If the block reward stayed at 50 forever, Bitcoin would still be the hardest money in existence and the inflation rate would approach 0 over time.

Easy there. If the block reward stayed at 50 forever, Bitcoin would still be the hardest money in existence and the inflation rate would approach 0 over time.

If you want inflationnary monopoly money, take a look at euros or dollars they might interest you.

I hope the block reward will keep the same, so that BTC will provide continuous incentive for new adopters, and reduce the deflation nature in BTC economy

The continuously reducing supply in protocol make it a perfect place for speculation, and the wild price swing will discourage business users