Quote:
Originally Posted by danielpbarron
Your cell phone app is also centralized. You are not really using bitcoin. You are assuming that your app is telling you the truth about the block chain. In order to take advantage of bitcoin's decentralized nature, you must maintain a full node.
And the fees. Bitcoin is not cheaper; it doesn't have lower fees. That is the wrong reason to promote it. The only reason bitcoin fees appear so low at the moment is because it is still relatively unused. Once the blocks start filling up, you will need to pay much larger fees in order to get your transactions confirmed.
You need to read the log, and stfu until you're done.
Try #bitcoin-otc. I wouldn't trust some random website that wants your bank info. |
Well that's what online wallets are, aren't they? Small virtual wallet which does not use the power of the block chain to make transactions, its just like a bank account or facebook account with a username and login. Certainly not a place to keep large amounts of bitcoin, just your day to day usage.
As for fees, i think it could be sustained at 5 cents a transaction. Still very cheap, much cheaper then banks. In fact you can choose how much you pay, and the less you pay the longer it will take. If your transfering small amounts don't pay a fee, just wait longer. If you want to transfer 10 million, which would cost 400k + with paypal - Put a fee of a dollar and it will go through really fast.
But hey its a new technology and its certainly possible it will fail. All im saying is it has MASSIVE potential, and if you really take a good look at it you might agree
Would be fantastic if adult adopted it widely, would be a big boom for bitcoin and crypto in general.