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Topic: Re: Bye bye bitcoin (Split: Morality of Bitcoin vs. Fiat Discussion) - page 6. (Read 5277 times)

legendary
Activity: 1246
Merit: 1010
Why do a lot of people keep wanting bitcoin to work for buying small mundane things?  It's wealth storage, security, ease of transfer.  What about current monetary systems makes you want to use bitcoins for coffee.  You will never have your entire life in BTC.  That's silly.  There's investments, real estate ownership, heck even works of art so use bitcoin for what it's good at because it certainly isn't good at buying coffee since you can't trust 0-conf anyways.

We want to access any web page without ads by just pushing 1 satoshi or whatever at the page as part of the http get request.
legendary
Activity: 2324
Merit: 1125
When 20TB per day is needed it will probably be possible. Don't try to solve problems that haven't occurred yet. Just-in-time solutions are often best!
legendary
Activity: 896
Merit: 1006
First 100% Liquid Stablecoin Backed by Gold
Why do a lot of people keep wanting bitcoin to work for buying small mundane things?  It's wealth storage, security, ease of transfer.  What about current monetary systems makes you want to use bitcoins for coffee.  You will never have your entire life in BTC.  That's silly.  There's investments, real estate ownership, heck even works of art so use bitcoin for what it's good at because it certainly isn't good at buying coffee since you can't trust 0-conf anyways.
legendary
Activity: 1414
Merit: 1000
The current block chain is about 12.5GB and it zips down to 8.74GB (a 30% savings).

There are 7B people (1-5 transactions/day buying cigarettes, dinner .. ) ... 1 transaction is about 0.5 kB ...
= looks like when bitcoin will worth $200k/BTC then we will need 20 TB/day

yes I know :-) , we will have few layers on top of the bitcoin protocol and no one will have to archive 20 TB/DAY :-)
... but we do not have it today :-)
donator
Activity: 2772
Merit: 1019
The current block chain is about 12.5GB and it zips down to 8.74GB (a 30% savings).

There are 7B people (1-5 transactions/day buying cigarettes, dinner .. ) ... 1 transaction is about 0.5 kB ...
= looks like when bitcoin will worth $200k/BTC then we will need 20 TB/day

When/if that happens, 20TB will cost a few cents.

bits, not cents.
donator
Activity: 2772
Merit: 1019
My main issue with bitcoin is the immorality of it. Explained simply: When my government issues new money, those money are used to run schools, build roads, provide health care , etc. So fiat money has some moral basis. When you buy bitcoins, some people get rich from that, nothing else.

Those "money" are not issued. The value is stolen from everyone else.

You are assuming that the government actions are always good for the people. They are not, only for some.

Printing money is theft and therefore fiat money is inherently immoral.

EDIT: just noticed this has been answered about 20 times way better than I just did.
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