i'm going to lock this poll by tomorrow and put up a new one given Gavin's "announcement" so get your voting in now.
How about all of the above, stop wasting gavin's precious time, and do it sooner to give ppl some confidence that micropayments will be economically viable so we can get on with building stuff on the blockchain. Stuff that actually delves into areas where fiat cannot go rather then merely providing small benefits to those who have already set up wallets and little to no benefit to those who must do the whole education thing and then the time inefficient fiat btc xfer btc fiat circus.
If Bitcoin's precious blockchain has no greater destiny than to be used for an eternal record of inconsequential "micropayments" the project has no future.
Stop trying to enable the fluffy VC daydream of 'enabling tipping economies' and worry about macropayments.
This is revolution against the BIS, etc. and a chance to evolve past gold as humanity's default store of value, not a call to replace Reddit gold/Dogecoin/TipBot.
The places "where fiat cannot go" that matter are brain/paper/hardware wallets, multi-sig, and realtime auditing, not giving some Redditard 0.000000001 BTC for confirming your bias with a snarky comment.
Too bad we have to wait an entire year to watch Mircea shit all over GavinCoin. It's worse than waiting for the next season of Walking Dead!
Agreed.
Bitcoin is much better suited to the store of value function.
Why do you think Goldman Sachs et all are trying to pigeon-hole bitcoin as merely a "payments network"?
*also, increasing block size does nothing to address the "instant payment" problem.
The only thing Bitcoin needs to retain the SOV function is that it maintains its fixed supply. No one is talking about changing that. What you're forgetting is that thousands of years ago gold coins were in fact used on a daily basis to buy loaves of bread. Increasing usage in day to day TX's would maximize its utility as money and drive it's value much higher. The increase TX volume is clearly necessary to feed miners over the long run via fees. Bitcoins usage needs to be driven to the far ends of the earth into the hands of a many people as possible to guarantee is safety.
Exactly. I don't care about changetip. I care about buying cell phone minutes, buying wifi access, per-play songs now that grooveshark RIP, email spam deterrence, cloud VM services, and other things. And other compelling use cases like remittance. For every person who uses that Bitcoin 2 way ATM in the Philippines (
http://www.reddit.com/r/Bitcoin/comments/34t7pw/in_the_middle_of_a_busy_makati_city_street_in_the/), there is probably another person who accepts BTC from a friend simply because the ATM exists.
Yes Bitcoin is probably not the final solution to micropayments. BUT micropayments will drive adoption. And as Cypherdoc suggested above, the position we want to be in to reinforce SOV is one where Bitcoin has enabled a micropayment ecosystem which due to Bitcoin's incredible popularity has to move to an alt-coin or sidechain. The position we don't want to be in is where Bitcoin limps along as an investment-mostly commodity but always in the back of investors minds is the thought that if just 3 companies shut down (for example, 2 exchanges and a payment processor), the ability to get out of the investment could drop dramatically and persist for a long period of time (forever).
SOV has the biggest immediate impact on price, but # users, # merchants, and # transactions is a measure of the "intrinsic value" which is what is backing SOV. That's why we are seeing the latter rise but price stay steady.
