Bitcoin endgame

Do you think there will ever be a version where we can really say bitcoin consensus rules are set in stone forever.

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The price of a bitcoin today is pretty clearly the result of speculative bubble investment, but that it sustains a price at all is a revelation.

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There will probably be altcoins which are mixed with fiat currencies.The existence of fluid inter-currency exchange with no requirement for trusting a 3rd party helps facilitate competition between different systems.In a future article, I will propose a combination of cryptocurrency and fiat currency which allows the central bank to generate more money, but restricts its ability to do so.

New altcoins will rise and they will prove popular with those that prefer their attributes.People will choose which currency to hold based on predictions of whether the value will rise or fall compared to other currencies.The Bitcoin vs. bank-permissioned blockchain battle may be won by both combatants.I think that successor will also itself be supplanted, and that this might continue for some time.Once we have a world of competing DigiCs, and free and unblockable flow of value between them through automated exchange, the competition will heat up.It has no pretensions of being a world currency like bitcoin.

With nothing backing a bitcoin (or most other DigiCs,) it is only the faith of the public that they are valuable which supports the value.Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money.It could be done in the public ledgers (blockchains) of the DigiCs themselves.

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If the holders were to start selling (or moving to altcoin) the value could drop precipitously it seems.Here is an outline of the steps to an exchange transaction with no 3rd party involvement.

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Common misperception Submitted by Peter (not verified) on Fri, 2014-03-21 13:50.

However, all printing does devalue the other currency, as it would increase in value with deflation if nothing is printing and the demand is growing.In my opinion, states will try to adapt to the new standard, which will lead to a greater exploitation of virtual currencies potential.A coordinated censorship attack is being waged against the entire independent media by Google, YouTube and Facebook.Little do they know they are going to lose nearly everything when the.What I am trying to say that when new coins are mined, the value of those coins is paid to the miner, and in a stable currency that miner would be able to use the currency immediately without depressing it, so the price of the coins mined is the cost to the system.At this point all this can be confirmed by anybody from the blockchains.Cryptocurrencies with no owner are inherently conservative and resist change — indeed that conservatism is a feature.

Belgian central-bank head Jan Smets told Bloomberg Television.Bitcoin will not change these because to change them it would not be Bitcoin.Someone has already mentioned Canadian MintChip - this is clearly a way how government can react to twist the former idea.

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Kin and the mainstream adoption of cryptocurrencies. The adoption endgame for Bitcoin and other digital currencies is mainstream adoption as transactional currency.Miners do makework computation to demonstrate that a majority of the mining computing power agrees which transactions should be recorded in the public ledger.So for those reasons I think its better to separate scarcity race.

There may be altcoins with features that nobody has yet dreamed of.In the far future, miners will only receive these transaction fees — and the fees will probably rise.Bitcoin is an open-source peer-to-peer digital currency project.Allowed HTML tags: Web page addresses and e-mail addresses turn into links automatically.The Endgame is a Go book (book about the game Go) by Tomoko Ogawa and James Davies, published by Kiseido. We accept credit card, PayPal, bitcoin.The two leading contenders vying for the cryptocurrency crown both have serious backing, but the technology is still developing and the endgame is still a ways away.It also means that for merchants, accepting one major DigiC is the same as accepting all the others than can be easily converted it.With consensus the two chains an even be merged back together.Ver has outlined this endgame scenario on the same portal that he established years ago as a.

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But some of the competitive differences are matters of philosophy, not simple features.I believe it is possible that this movement could happen quickly, and that momentum for it could grow, and suddenly there could be a rush of movement over a very short amount of time.

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Market Cap Submitted by TeringNering (not verified) on Sat, 2014-03-22 16:20.

Bitcoin is a decentralized system where if a big change were achievable.Jim Rickards exclusive interview on CNBC sets the record clear on the North Korean endgame and what it means.

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However, people who want speed can get it either with higher transaction fees, or the use of trusted parties who can make smaller transactions instantaneous if desired, for a small fee.I will advance that every currency has a cost which affects its value.Any hoarding of bitcoins on deflationary expectations is ridiculously long-term.

Or rather, divided by the number of circulating coins, as uncirculating coins are not providing that value as a medium of exchange, they are providing a value as a store of value.It is expected that demand for bitcoins will increase, and the predictable and capped supply makes that deflationary. (It is also argued that the expectation of deflation promotes holding, which in a feedback loop, increases deflation.).



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