Topic: What is the Future of Bitcoin ? - page 68. (Read 76899 times)
With credibility between users and sellers, Bitcoin may go to a new stage.
future of bitcoin is paying for everything with bitcoins, everyday grocery etc
I don't see many people paying with it through a drive through. 10 min wait could stall fast food lol
I wish people would stop bringing this up as if it's a problem. You don't have to wait ten minutes. Have you ever actually sent bitcoin?
Why do u think that u dont need to wait 10 min ? Unless u wait, there remains a chance of double spending ...is no it ?
Once a TX has been propagated throughout the network nodes will consider the inputs as spend and will reject any TXs that contain the same inputs even when the TX is 0/unconfirmed. The only way to double spend would be to include a block in the blockchain that spends at least one of the same inputs. With small purchases like fast food this would generally not be economical.
The future of BTC very much will depend on it's transparency and national/international regulations on tax and reporting of BTC. If regulative framework will remain at the present stage - many large businesses will be put off from accepting virtual currencies such as Bitcoins given the fringe nature of the industry and lack of transparency.
didnt seem to stop Dish or Expedia
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
The future of BTC very much will depend on it's transparency and national/international regulations on tax and reporting of BTC. If regulative framework will remain at the present stage - many large businesses will be put off from accepting virtual currencies such as Bitcoins given the fringe nature of the industry and lack of transparency.
didnt seem to stop Dish or Expedia
The future of BTC very much will depend on it's transparency and national/international regulations on tax and reporting of BTC. If regulative framework will remain at the present stage - many large businesses will be put off from accepting virtual currencies such as Bitcoins given the fringe nature of the industry and lack of transparency.
I believe it's future will be the same as every new innovative stuff or technology; actually we are living it's rising, in a few years we will live it's climax
and maybe in long-term it will dissappear and another innovative thing will replace it...
and maybe in long-term it will dissappear and another innovative thing will replace it...
future of bitcoin is paying for everything with bitcoins, everyday grocery etc
I don't see many people paying with it through a drive through. 10 min wait could stall fast food lol
I wish people would stop bringing this up as if it's a problem. You don't have to wait ten minutes. Have you ever actually sent bitcoin?
Why do u think that u dont need to wait 10 min ? Unless u wait, there remains a chance of double spending ...is no it ?
future of bitcoin is paying for everything with bitcoins, everyday grocery etc
I don't see many people paying with it through a drive through. 10 min wait could stall fast food lol
I wish people would stop bringing this up as if it's a problem. You don't have to wait ten minutes. Have you ever actually sent bitcoin?
future of bitcoin is paying for everything with bitcoins, everyday grocery etc
I don't see many people paying with it through a drive through. 10 min wait could stall fast food lol
Bitcoin was primarily devised to solve remittance problem, where 10 min is nothing. At the time of design, Satoshi probably did not think that Bitcoin may be used in fast food stall. But now as we are moving forward, we can solve this problem by incorporating side chains.
The biggest problem that I see with bitcoin is that by design, it is a deflationary currency.
That's not a problem with bitcoin. On the contrary, Bitcoin's deflationary design is the SOLUTION to the deadly problem of inflationary fiat scrip.Due to all of the above factors, I personally believe that bitcoin will inevitably completely implode if it doesn't fade into obscurity first.
Bitcoin is a lottery ticket for its holders. Lottery tickets never fade into obscurity. 
Also, you should use less emoticons when conversing with adults. Overusing emoticons makes you look stupid and insecure.
The biggest problem that I see with bitcoin is that by design, it is a deflationary currency.
That's not a problem with bitcoin. On the contrary, Bitcoin's deflationary design is the SOLUTION to the deadly problem of inflationary fiat scrip.Due to all of the above factors, I personally believe that bitcoin will inevitably completely implode if it doesn't fade into obscurity first.
Bitcoin is a lottery ticket for its holders. Lottery tickets never fade into obscurity. Also, you should use less emoticons when conversing with adults. Overusing emoticons makes you look stupid and insecure.
future of bitcoin is paying for everything with bitcoins, everyday grocery etc
I don't see many people paying with it through a drive through. 10 min wait could stall fast food lol
Due to all of the above factors, I personally believe that bitcoin will inevitably completely implode if it doesn't fade into obscurity first.
Bitcoin is a lottery ticket for its holders. Lottery tickets never fade into obscurity. It is changing the format over the time... Due to all of the above factors, I personally believe that bitcoin will inevitably completely implode if it doesn't fade into obscurity first.
Implode or Explode ? What do u mean ?
Now, even the Forbes predicts, Bitcoin value will explode...
http://www.forbes.com/sites/peterdiamandis/2014/06/23/my-insights-on-bitcoin-going-from-deceptive-to-disruptive/
Due to all of the above factors, I personally believe that bitcoin will inevitably completely implode if it doesn't fade into obscurity first.
legendary
Activity: 1302
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Core dev leaves me neg feedback #abuse #political
It is also interesting to note that a deflationary currency like this actually rewards early adopters (which is why bitcoins have been compared to Ponzi Schemes by numerous experts). Finally, the "mining" of bitcoins is remarkably inefficient in its use of energy and computational power when compared to other systems of creating currency.
all been discussed many times before.
early adopters are rewarded for risk taking and spearheading new technology.
proof of work may appear inefficient but is the only proven method
for distributed consensus.
It is also interesting to note that a deflationary currency like this actually rewards early adopters (which is why bitcoins have been compared to Ponzi Schemes by numerous experts). Finally, the "mining" of bitcoins is remarkably inefficient in its use of energy and computational power when compared to other systems of creating currency.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
we've never had a deflationary currency before (except during times of chaos) so you really don't know.
gold is a deflationary currency but doesn't work well for small payments because it's not easily divisible. this is the first time we've tried an asset based deflationary currency that's easily divisible.
gold is a deflationary currency but doesn't work well for small payments because it's not easily divisible. this is the first time we've tried an asset based deflationary currency that's easily divisible.
Theoretically at least, this could create enough deflation per year that basically nobody would ever want to actually spend a bitcoin, which would lead to a crash/total failure of the bitcoin economy.
Assuming demand for the currency trends upward long-term (and if it doesn't, it wouldn't really be a successful currency), the value of a single bitcoin will increase. Inflation is healthy and necessary for a currency because it encourages people to spend and/or invest their cash, as opposed to deflation which encourages people to hoarde, further deflating the currency (by decreasing supply).
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