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Does anyone here use Bitcoins?
tomos:
You're optimistic there Torah. A bit simplistic too: that an economy based on Bitcoin would be better is very debatable.
As Bitcoins continue to be mined they begin to create more value since more people begin to own them.
--- End quote ---
again seems very simplistic to me: the real value is fluctuating independent of the mining. Add to that -- mining costs more than Bitcoin is currently worth IIUC (or has that changed again?)
Shades:
Bitcoin's main issue (in my point of view) is that transactions can take place immediately or take way too long, depending on your willingness to pay for the privilege to be put first on the queue of transactions. That is not only flawed for the person who wants to pay for goods/services, the person or company at the receiving end of the transaction cannot be sure when the transaction takes place and how much the value amount of the received bitcoin is at that moment.
Trading one miserable way of doing financial transactions for another....yay!
The concept of crypto currency is a good one, Bitcoin's implementation isn't.
Renegade:
You're optimistic there Torah. A bit simplistic too: that an economy based on Bitcoin would be better is very debatable.
-tomos (October 01, 2018, 06:25 AM)
--- End quote ---
It would objectively be better.
Fiat allows governments to debase their currencies. This is flat out theft from people. It steals purchasing power from them through inflation. It's criminal and they should be thrown in prison for it.
There is no such debasement with Bitcoin. That's objectively better.
Bitcoin's main issue (in my point of view) is that transactions can take place immediately or take way too long, depending on your willingness to pay for the privilege to be put first on the queue of transactions. That is not only flawed for the person who wants to pay for goods/services, the person or company at the receiving end of the transaction cannot be sure when the transaction takes place and how much the value amount of the received bitcoin is at that moment.
Trading one miserable way of doing financial transactions for another....yay!
The concept of crypto currency is a good one, Bitcoin's implementation isn't.
-Shades (October 01, 2018, 08:52 AM)
--- End quote ---
The Lightning Network solves those problems. Resolution is instantaneous and near free.
Arizona Hot:
Does anyone here use Bitcoins?
Bitcoin Cash clash is costing billions with no end in sight
Arizona Hot:
Does anyone here use Bitcoins?
A faster, more efficient cryptocurrency
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