Does Bitcoin have AIDS? | Bitcointalksearch.org

RitzBitzz

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Quote from: Beliathon on May 18, 2015, 09:52:24 PM

Quote from: smalltimer on January 08, 2015, 12:48:56 PM

could be true but that inflation of gold is way lower - low enough to not be felt. Bitcoin is a different story.

Both gold and Bitcoin are deflationary. Gold will become truly inflationary in the near future when we start mining it from space, though.

Same with basically every other resource.

flyingplows

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Quote from: smalltimer on January 08, 2015, 12:40:19 PM

High hash needs to be paid for.
Bitcoin has good hash but keeps going down because that hash needs to be paid.
When you buy gold you do not pay a constant tax to the miners after initial purchase.
Bitcoin is different. Here you pay after purchase a tax to miners of 10% of its value this year.

Can it be cured with speeding up blocktimes or does it need to fork to faster rewarddecrease?
Obviously satoshi was afraid of attackers. He did not think of a whole army of altcoins which could jump in and back it up.
He did not think of the possibility to share hash with other coins.
What sense does a mega-high hashrate make when it is this expensive and makes the coin useless to store value?
Are the fears which would make such high and expensive hashrate necessary still justified in 2015?

Here is my question:
Does Bitcoin have aids? Can it be cured? How?

It would be a tax if BTC would have become as the world most prominent currency, no new people would join Bitcoin and the only effect of mining would be redistribution of holdings in favour of miners if they did it for free. Now since they don't do it for free and BTC has still some steps left for replacing fiat and becoming the dominant currency and payment method in the word these assumptions are wrong and are not true. The only thing to worry about is that there is sufficient new people getting involved to absorb all new mined (not for free) Bitcoins being sold and that's ok. When there would be enough adoption, there will be no mining because of max BTC cap Wink

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Quote from: smalltimer on January 08, 2015, 12:40:19 PM

High hash needs to be paid for.
Bitcoin has good hash but keeps going down because that hash needs to be paid.
When you buy gold you do not pay a constant tax to the miners after initial purchase.
Bitcoin is different. Here you pay after purchase a tax to miners of 10% of its value this year.

Can it be cured with speeding up blocktimes or does it need to fork to faster rewarddecrease?
Obviously satoshi was afraid of attackers. He did not think of a whole army of altcoins which could jump in and back it up.
He did not think of the possibility to share hash with other coins.
What sense does a mega-high hashrate make when it is this expensive and makes the coin useless to store value?
Are the fears which would make such high and expensive hashrate necessary still justified in 2015?

Here is my question:
Does Bitcoin have aids? Can it be cured? How?

These questions need to be asked. You are asking the right questions. Unfortunately, bitcoin development vanished the same time Satoshi did.

Most likely the altcoins w/ Satoshi-like developers will lift the bitcoin community from its haze of stagnation.

Beliathon

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Quote from: smalltimer on January 08, 2015, 12:48:56 PM

could be true but that inflation of gold is way lower - low enough to not be felt. Bitcoin is a different story.

Both gold and Bitcoin are deflationary. Gold will become truly inflationary in the near future when we start mining it from space, though.

crazyearner

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For bitcoin to have aids mehh Its just in state of loom or frozen in loom from Fringe and has every virus going. For someone saying BTC vs ebola Well as some don't know Ebola was man made and U.S. Government patented the Ebola virus back in 2009

oh wait a min BTC was created in 2009 hmmm http://www.google.com/patents/US20120251502 Ebola government patent. Am sure with BTC being the cure it will fight its way back up BTC just has man flue on recovery from it

RitzBitzz

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Quote from: smalltimer on January 08, 2015, 03:08:15 PM

Quote from: jonald_fyookball on January 08, 2015, 02:59:06 PM

@smalltimer

you have points but you're not considering demand,
which is half the supply+demand equation... which
affects price now...

...and you're not considering the increasing transaction
volume which will decrease the fee size later.

cheers. Kiss

transaction volumes are too low - half of it is fake and me sending coins to exchanges and back or playing satoshi dice.

Demand is the problem: demand will not grow because it can't hold its value
that's the gist of my point actually

-> If it would hold value better and favour miners less the demand would be higher and the hash maybe a little lower, so the price would be rising (and ultimately with it the hash too)

Raw hash is expense and doesn't provide any value in itself. What provides value is a fine balance between investors and miners which bitcoin has been unable to strike.

Price will come down and hash too until an equilibrium between miners and investors is reached (supply/demand equilibrium). So the inflation it has now does not provide any additional security, it just makes sure the coin doesn't take off.

The theory of the inflation being necessary to secure the network is total bogus.
What secures the network is a sustainable high price and high demand whilest inflation should be minimal. After all you want to get money into the system not out of the system.

What do you mean by "fake" transactions how can a transaction be faked?

Pecunia non olet

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This thread is still relevant...

flyingplows

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Bitcoin is here to stay, if it will need some changes - they will be implemented. As of now everything is o.k. Wink

Sometimes things get tough but what can you expect here...

If there is an immminent serious threat that would kill btc I am completely sure btc would adapt, a solution would be found and we're good to go again. Tongue

In fact I even like it that there is no hurry to ''upgrade'' btc ;]
It is good as it is given the global circumstances...

Pecunia non olet

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Bitcoin gave me anal-herpes!

pereira4

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Quote from: ChuckBuck on February 04, 2015, 11:25:38 AM

Right now Bitcoin has bad case of the Measles:

Just need some ETF and Gemini to help heal it back to full strength...

These red spots are the red candles in the charts lol

ChuckBuck

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better everyday ♥

Right now Bitcoin has bad case of the Measles:

Just need some ETF and Gemini to help heal it back to full strength...

neurotypical

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Bitcoin only has a cough, when it recovers it will be like arnold in 1975, and you'll miss the boat if you dont own enough.

BillyBobZorton

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Quote from: cyberpinoy on January 13, 2015, 01:49:22 AM

Quote from: smalltimer on January 08, 2015, 12:40:19 PM

High hash needs to be paid for.
Bitcoin has good hash but keeps going down because that hash needs to be paid.
When you buy gold you do not pay a constant tax to the miners after initial purchase.
Bitcoin is different. Here you pay after purchase a tax to miners of 10% of its value this year.

Can it be cured with speeding up blocktimes or does it need to fork to faster rewarddecrease?
Obviously satoshi was afraid of attackers. He did not think of a whole army of altcoins which could jump in and back it up.
He did not think of the possibility to share hash with other coins.
What sense does a mega-high hashrate make when it is this expensive and makes the coin useless to store value?
Are the fears which would make such high and expensive hashrate necessary still justified in 2015?

Here is my question:
Does Bitcoin have aids? Can it be cured? How?

yes it can be cured when the developers get off their asses and do something productive for the demand rather than doing shit like this

This is like using the internet 1992. We need time and people will eventually adapt in 10 years. In fact we needed 10+ years for the internet to catch somewhat mainstream waters.

waaat?

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Champ92

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What a question

altcoin hitler

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it's obvious to me we should leave bitcoin behind.

Some alts without corrupt foundation, CIA-visiting devs and less inflation will be much more fun.

Who says Bitcoin hasn't failed lives in a phantasie-world. Bitcoin has failed. It should make way for innovation and other less volatile/inflationary coins.
With continuing to support 'Bitcoin' you harm all of cryptocurrency future.

Leave bitcoin to the china manipulators and the banks - it's not a currency for the little man.

homo homini lupus

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It had lepra and ebola before but with this fork-thing the aids is confirmed.

cyberpinoy

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Quote from: smalltimer on January 08, 2015, 12:40:19 PM

High hash needs to be paid for.
Bitcoin has good hash but keeps going down because that hash needs to be paid.
When you buy gold you do not pay a constant tax to the miners after initial purchase.
Bitcoin is different. Here you pay after purchase a tax to miners of 10% of its value this year.

Can it be cured with speeding up blocktimes or does it need to fork to faster rewarddecrease?
Obviously satoshi was afraid of attackers. He did not think of a whole army of altcoins which could jump in and back it up.
He did not think of the possibility to share hash with other coins.
What sense does a mega-high hashrate make when it is this expensive and makes the coin useless to store value?
Are the fears which would make such high and expensive hashrate necessary still justified in 2015?

Here is my question:
Does Bitcoin have aids? Can it be cured? How?

yes it can be cured when the developers get off their asses and do something productive for the demand rather than doing shit like this

crazy-pilot

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Quote from: smalltimer on January 08, 2015, 12:40:19 PM

High hash needs to be paid for.
Bitcoin has good hash but keeps going down because that hash needs to be paid.
When you buy gold you do not pay a constant tax to the miners after initial purchase.
Bitcoin is different. Here you pay after purchase a tax to miners of 10% of its value this year.

Can it be cured with speeding up blocktimes or does it need to fork to faster rewarddecrease?
Obviously satoshi was afraid of attackers. He did not think of a whole army of altcoins which could jump in and back it up.
He did not think of the possibility to share hash with other coins.
What sense does a mega-high hashrate make when it is this expensive and makes the coin useless to store value?
Are the fears which would make such high and expensive hashrate necessary still justified in 2015?

Here is my question:
Does Bitcoin have aids? Can it be cured? How?

Excuse me, but the relation between AIDS and Bitcoin is lost to me, I understand what your trying to say but this in a thread title plus your post does not make any sense to me.

panju1

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Quote from: smalltimer on January 12, 2015, 11:16:43 AM

thread for boycott:
https://bitcointalksearch.org/topic/campaign-to-boycott-bitcoin-921887

Until there are people who are ready to accept the fake bitcoins, it really doesn't make sense to have a fork.

Topic: Does Bitcoin have AIDS? (Read 5346 times)