Long term problems with Fiat? It will be valued 0.0001 BTC 
USD dont care it will be traded 10.000 USD / BTC, there is much more USD available and even more every day for this inflationary currency. So not poblem at all
Topic: Long Term Problems with Cryptocurrency (Read 1719 times)
USD dont care it will be traded 10.000 USD / BTC, there is much more USD available and even more every day for this inflationary currency. So not poblem at all
Long term problems with Fiat? It will be valued 0.0001 BTC
USD dont care it will be traded 10.000 USD / BTC, there is much more USD available and even more every day for this inflationary currency. So not poblem at all
Long term problems with Fiat? It will be valued 0.0001 BTC
omg .. getting eaten is natural. extinction is natural (happend 2 times - without any humans)
back to topic please, we may open another co2 related topic.
oh wait - how funny would be an co2 coin? or a climate coin. Let's reduce heating costs worldwide by inventing a clc (climatecoin) with extreme high difficulty! That would save sooo much energy which is wasted by heating in colder countries.
Actually I already do use my GFX Card as a small heater (while mining LTC), because it is winter and temps drop actually down to 18°C and we have no heaters here (we are subtropical climate). So I am actually saving the environment.
back to topic please, we may open another co2 related topic.
oh wait - how funny would be an co2 coin? or a climate coin. Let's reduce heating costs worldwide by inventing a clc (climatecoin) with extreme high difficulty! That would save sooo much energy which is wasted by heating in colder countries.
Actually I already do use my GFX Card as a small heater (while mining LTC), because it is winter and temps drop actually down to 18°C and we have no heaters here (we are subtropical climate). So I am actually saving the environment.
PS: Please no Co2 discussion - it is lame, it is wrong. and .. it's just wrong. too much BS about that climate topic. Climate is in steady change. That's natural. Looking at earth history this planet was not able to host live most of its time.
Your right, we are getting there slowly (planet not able to host live)
And yes it is natural because we are part of nature
About the PPC - proof of stake concept is not secure as much as proof of work. So Bitcoin does not have any issues, in fact given huge hash rate it is only really secure coin
Wrong.POW is not as secure as POS is. Any coin which implemented POS is more secure than Bitcoin is.
About the PPC - proof of stake concept is not secure as much as proof of work. So Bitcoin does not have any issues, in fact given huge hash rate it is only really secure coin
The PPC approach (as far as I understood it) is pretty cool because it is designed, so that every attack will be unreliable in concerns of cost. So this is the best security you can get. Making the win unreliable.
PS: Another on "360 from this IP i forget everything you typed" bullshit .. let's head for an IP rotator .. unbelievable .. what is this? stone age?
PS: Please no Co2 discussion - it is lame, it is wrong. and .. it's just wrong. too much BS about that climate topic. Climate is in steady change. That's natural. Looking at earth history this planet was not able to host live most of its time.
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In general, inventors cannot think of all the future cases, I believe. I don't think, that the inventor of the motor-engine ever thought of CO2 emissions and such things ppl care about today (climate change is nature by the way) :-) whatever
This is going to blow your brain!...
CO2 is the air you breathe out after you extract Oxygen from it.
Plants take in CO2 to grow and give out Oxygen. (The carbon cycle!)
Excess CO2 causes taller trees and animals, like they had in the times of Dinosaurs!
but wait there is more...
The enviro-mentalists forced us to put catalytic converters onto our cars
made from a metal more expensive than gold (platinum) to turn nasty Carbon Monoxide into safe Carbon Dioxide!
To top it off the sea has been rising since the last ice age, long before man got industrialized
England used to be connected to France and stone age people lived on the bit in between where now there is sea!
I think this is the real reason behind it... If you tax CO2, you've got a breathing tax!
About the PPC - proof of stake concept is not secure as much as proof of work. So Bitcoin does not have any issues, in fact given huge hash rate it is only really secure coin
A problem which can be easily solved. Why do you even point out such a thing?
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Then, by your logic, you need choose new alternative coin
My logic is undeniable.
A Peer-2-Peer network is an exponential function http://youtu.be/9SOSfRNCQZQ?t=5m6s
it would create more traffic than the internet could handle if everyone used Bitcoin-Qt to maintain their own wallet.
When you use a 3rd party wallet that is (Server-Client) centralization and you are back to trusting a bank not to steal from you.
don't you think he planned it this way?
In general, inventors cannot think of all the future cases, I believe. I don't think, that the inventor of the motor-engine ever thought of CO2 emissions and such things ppl care about today (climate change is nature by the way) :-) whatever
It's not that I do not like BitCoin, I like it, and it is a great idea! I just try to think about what will happen in the future. I actually do prefer litecoin currently (and mine them) and also have an eye on PPC very much, because it seems to be a good way to conquer many problems BTC has shown. But who knows. History tells us, it is not the best product who wins but the most marketed one. Saying this I hope for the most practical crypto.
Would love if there were more discussions about which crypto prefer but in concerns of usability - not profit :-)
I may put some older PC back in service to mine some PPC .. because I got a store my power is fully tax deductable, so this is less of a matter for me
PS: Mentioning google .. it is quite possible that the big players like google or microsoft overtalking a majority of computing power (they already have) - this is more a concern of profit and reliability. Another reason to go for PPC, which trys to conquer that.
Yes we will be buying goods and services in Satoshis (The Bitcoin Inventors Name) The guy was a frikin genius, don't you think he planned it this way?
Bitcoin will become more centralized by this time because the blockchain will require Google Super computers to store all the transactions.
If this bothers you use and promote Litecoin which is more focused on keeping the network and coin production in the hands of the people.
Bitcoin will become more centralized by this time because the blockchain will require Google Super computers to store all the transactions.
If this bothers you use and promote Litecoin which is more focused on keeping the network and coin production in the hands of the people.
LOL, if your alternative coin becomes ever used widely for buying product and services, your alternative coin will become more centralized by this time because the blockchain will require Google Super computers to store all the transactions.
Then, by your logic, you need choose new alternative coin
Yes we will be buying goods and services in Satoshis (The Bitcoin Inventors Name) The guy was a frikin genius, don't you think he planned it this way?
Bitcoin will become more centralized by this time because the blockchain will require Google Super computers to store all the transactions.
If this bothers you use and promote Litecoin which is more focused on keeping the network and coin production in the hands of the people.
Bitcoin will become more centralized by this time because the blockchain will require Google Super computers to store all the transactions.
If this bothers you use and promote Litecoin which is more focused on keeping the network and coin production in the hands of the people.
One issue I would like to flag up is that surely when mining becomes so expensive and most miners quit, it will take a very long time to confirm transactions surely?
no, because the difficulty goes down .. but when I understand the crypto-concept the difficulty is baken into the block chain (logically) .. not sure if I am right with this. Also there will be a transact fee later which should drive enough asics to keep running. Even when that means only big farms will survive.
I may had an overdrive with the lire/$ example, but it should show the paint. Nethertheless, with introducing mBTC etc that should be no Problem. Raising Population VS Fixed Amount of coins anyone?
If you look on current ongoings with the cryptos, the value mostly comes from trading and such things. Which is nice and works like any asset works so far but in the end is inpractical for the consumer. So after the big wave of mining, trading and speculatting is over, someone has to ask if BTC will be a practical currency.
At the moment, there is no stable value, so the currency per se is fully unusable for mainstream commerce. I wonder when we will see Cryptos stabilize. Opinions?
Example: Samsung invents a new TV. They invest "money" into development, production and such things which is say
True - same counts for fiat currency, but there is some range which is quite usual, even when there is the risk of a economy crash (which is defined as uncommon or slow enough to react)
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* Ever Growing Block Chain (online wallets may be the solution to different other problems as well)
You don't need an online wallet to solve that. Use multibit for exampleQuote
There was 8 digits behind comma, didn't it? So we end up with 0.00000001 being one $ct - that would be ridicolous. Maybe we would not use bitcoins, but use Satoshi instead as Currency - which would be more natural.
The bitcoin-qt client already have the option to show you milliBTC instead of BTC, problem solved. Quote
Anyone can remember Italian Lire .. 20$USD = 1.000.000 Lire? (something like that)
1 dollar was like 2000 Lire 
* Coin Value. Example Bitcoin, currently 300§ per coin. Thinking it to the end, because of the limited amount of bitcoins available, 1 bitcoin will be A LOT of money. What will happen to microtransactions? 0.0000001 BTC for a bubble gum? There was 8 digits behind comma, didn't it? So we end up with 0.00000001 being one $ct - that would be ridicolous. Maybe we would not use bitcoins, but use Satoshi instead as Currency - which would be more natural.
That's a none issue, as the price increases, instead of Bitcoins all prices will be displayed as mBTC, or millibits. Then if one assumes that Bitcoin quite literally took over the world as some global currency, then 1 cent = 1 satoshi and equivalent of $1 would be a uBTC or microbit.
It's not like all prices would be shown as decimal points of full BTC. In fact they might even give the new divisions brand new names to replace millibit and microbit.
Hmm
Your concerns are legit, but they have been raised several times already, and there are a lot of solutions or explanations for them. So you shouldn't worry .
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One issue I would like to flag up is that surely when mining becomes so expensive and most miners quit, it will take a very long time to confirm transactions surely?
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