I'd sell it now. In the long run people will be saying "Taylor who?"
You have a point, but I think it's worth keeping in pride of place in a glass cabinet for a few years yet.
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 20971. (Read 26610002 times)
August 21, 2015, 07:33:35 AM
I'd sell it now. In the long run people will be saying "Taylor who?"
You have a point, but I think it's worth keeping in pride of place in a glass cabinet for a few years yet.
August 21, 2015, 07:31:01 AM
I'd sell it now. In the long run people will be saying "Taylor who?"
You have a point, but I think it's worth keeping in pride of place in a glass cabinet for a few years yet.
August 21, 2015, 07:30:33 AM
You cannot use something as a store of value if it is not in fact valuable. If you could I would use my poo as a store of value and be a rich man.
How good is Bitcoin at conducting electricity? Or is it great for making pipes?
August 21, 2015, 07:27:31 AM
You cannot use something as a store of value if it is not in fact valuable. If you could I would use my poo as a store of value and be a rich man.
If you could purchase a certified heap of Taylor Swift's dung along with a video of her producing it I think you'd probably do rather well in the long run.
August 21, 2015, 07:18:03 AM
where are the finex walls?
They got eaten. Completely.
I cant go on vacation, go mess!
August 21, 2015, 07:13:51 AM
You cannot use something as a store of value if it is not in fact valuable. If you could I would use my poo as a store of value and be a rich man.
If you could purchase a certified heap of Taylor Swift's dung along with a video of her producing it I think you'd probably do rather well in the long run.
August 21, 2015, 07:13:16 AM
where are the finex walls?
They got eaten. Completely.
August 21, 2015, 07:10:06 AM
Copper is a better conductor than gold, and it's lighter. Gold doesn't corrode. So only if you're concerned about corrosion, you'd go for gold. In all other cases, you go for copper. Hence, you'd expect gold to be cheaper than copper if both are equally abundant and gold isn't used as store of value.
I've been told by a metallurgist that for wire gold plated copper is best, but for things like pipes where you care about corrosion gold rules. Now compare the weight of the average pipe to the average wire and tell me again why gold should be cheaper.You cannot use something as a store of value if it is not in fact valuable. If you could I would use my poo as a store of value and be a rich man.
August 21, 2015, 07:06:52 AM
where are the finex walls?
August 21, 2015, 07:03:21 AM
This makes everything clear.
"Permanently keeping the 1MB (anti-spam) restriction is a great idea ..."
https://bitcointalksearch.org/topic/permanently-keeping-the-1mb-anti-spam-restriction-is-a-great-idea-946236
"Permanently keeping the 1MB (anti-spam) restriction is a great idea ..."
https://bitcointalksearch.org/topic/permanently-keeping-the-1mb-anti-spam-restriction-is-a-great-idea-946236
this is excellent.
What many don't seem to grok is that the BIP process effectively guarantees the 1 MB hard limit because any small group of core devs or even a single coder gets basically veto power over any improvements he doesn't like as much as his own. Stalemate. It's like the council of Captains in Pirates of the Caribbean voting for themselves as Pirate King. Then Jack Hearn Sparrow plays kingmaker by voting for Elizabeth Gavin Swan. Or vice versa. This metaphor is getting convoluted.
BitcoinXT is the best tool we have to break the gridlock. Even if it never comes close to achieving supermajority, if it lights a fire under the core dev's collective ass to come up with a viable alternative that scales, then that would be even better.
A bitcoin that is no longer directly accessible to the end user is no longer Bitcoin. Something else will replace it. Network effects didn't save Myspace.
Scale or die.
August 21, 2015, 07:02:29 AM
August 21, 2015, 06:41:32 AM
Gold is a store of wealth because it's a metal with very useful properties. If it were cheap everything made out of copper would be made out of gold instead, but there isn't enough gold to do all that, so it can never be cheap.
Copper is a better conductor than gold, and it's lighter. Gold doesn't corrode. So only if you're concerned about corrosion, you'd go for gold. In all other cases, you go for copper. Hence, you'd expect gold to be cheaper than copper if both are equally abundant and gold isn't used as store of value.
August 21, 2015, 06:02:39 AM
August 21, 2015, 05:59:13 AM
AlexGR is correct that bitcoin cannot scale to cover the entire global population, but it can scale much bigger than it is now, and if it does not, some other coin will.
Where's the upvote button?
August 21, 2015, 05:54:38 AM
I'm just pointing out that even with not so many transactions, you don't simply "die" - and evidence of that is the marketcap and mobility of gold, because bitcoin is not simply a payment system, but also a store-of-wealth system.
Gold is a store of wealth because it's a metal with very useful properties. If it were cheap everything made out of copper would be made out of gold instead, but there isn't enough gold to do all that, so it can never be cheap.Bitcoin is only a store of wealth as long as it's the coin everyone uses. Intrinsically it's no better than the hundreds of other coins out there. If you cap it, it will no longer be the coin everyone uses, because caps by their very nature exclude people. So its value will fall, and whatever altcoin people start using instead will become the new dominant coin.
AlexGR is correct that bitcoin cannot scale to cover the entire global population, but it can scale much bigger than it is now, and if it does not, some other coin will.
August 21, 2015, 05:36:38 AM
This Gavin guy is worse for Btc than a 51% attack....
August 21, 2015, 05:16:00 AM
This makes everything clear.
"Permanently keeping the 1MB (anti-spam) restriction is a great idea ..."
https://bitcointalksearch.org/topic/permanently-keeping-the-1mb-anti-spam-restriction-is-a-great-idea-946236
"Permanently keeping the 1MB (anti-spam) restriction is a great idea ..."
https://bitcointalksearch.org/topic/permanently-keeping-the-1mb-anti-spam-restriction-is-a-great-idea-946236
August 21, 2015, 05:13:09 AM
@rebuilder - a little bit off-topic. but anyways: we are slaves only to our own thinking. and this is the reason we want to put bitcoin/blockchain into existing concepts.
if bitcoin/blockchain catches on, it will turn the world upside down.
one implication might be, that we don't know how rich (billionaires = not even possible in bitcoin
and poor will be defined. money (also) was/is used for status porposes for quite a long time. imo "having time" will be the new 'rich'.
despite the meta-philosophical aspects. your question is really interesting and should be investigated
if bitcoin/blockchain catches on, it will turn the world upside down.
one implication might be, that we don't know how rich (billionaires = not even possible in bitcoin
and poor will be defined. money (also) was/is used for status porposes for quite a long time. imo "having time" will be the new 'rich'.Quote
I wonder, how does 10% costs over market cap compare to the banking industry?
despite the meta-philosophical aspects. your question is really interesting and should be investigated
August 21, 2015, 05:02:31 AM
August 21, 2015, 04:50:58 AM
Satoshi's vision originally was that eventually block subsidies and fees would likely not cover the costs of mining, but that institutions with an interest in keeping the network secure would spend funds to secure it. Even so, 10% of market cap yearly seems like an unreasonable cost. The end user must pay that in the end.
if bitcoin becomes the new reference standard (in 20 years+) there will be enough incentive to secure the network even if return is negative.
That still means resources expended. Someone must pay for it, and I doubt it's going to be an altruistic cabal of billionaire philantrophists redistributing their wealth by subsidizing blockchain security just for the hell of it.
I wonder, how does 10% costs over market cap compare to the banking industry?
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