[QUOTE=Mr. Someguy;43908158]It never will be because there's a limited amount and once that gets mined up, there are no more. That means over time bitcoins are lost that can never be recovered, more are horded, many are inaccessible, in old accounts or even in the accounts of deceased persons. Eventually there will be a shortage, and it'll collapse and be replaced.[/QUOTE]
Yea, with the amount of problems with these monopoly exchanges, I don't think bitcoin has a chance to have a future. Maybe before lots of these "hacks" and crashes.
It's a future of runaway deflation and people won't want to use it for actual purchases.
[QUOTE=SPESSMEHREN;43904248]The operators are blaming a fundamental flaw in the Bitcoin protocol. If that turns out to be true (and, to some extent, even if it doesn't), trust in the integrity of the protocol will been destroyed. Professional investors will likely pull out, causing the price to tank. The only ones left will be armchair investors.
We are very likely to see the days of the sub-$100 Bitcoin return.[/QUOTE]
Spoken like someone who has no idea what they are talking about
The real reason this happened is because the owners of SR literally stole the money and are using transaction malleability as a scapegoat excuse. Their reasoning makes zero sense, because transaction malleability doesn't mean you can steal coins at all, it just means exchanges with poor wallet support can have someone withdraw coins from their personal account, do something to the transaction to make the exchange think funds were not withdrawn and then they try to withdraw again.
That's all it does. It doesn't actually steal coins from any individual and it only affects exchanges that aren't protected to check against someone trying to do this so they don't end up paying out the withdrawee twice. And surprise, as of today most of the exchanges have safeguards going in place to prevent someone from "faking a withdraw".
This affects normal wallets absolutely not at all.
[QUOTE=Mr. Someguy;43908158]It never will be because there's a limited amount and once that gets mined up, there are no more. That means over time bitcoins are lost that can never be recovered, more are horded, many are inaccessible, in old accounts or even in the accounts of deceased persons. Eventually there will be a shortage, and it'll collapse and be replaced.[/QUOTE]
Technically, there is no such thing as a bitcoin shortage because bitcoin is infinitely divisible, though.
Instead of BTC, you can use mBTC, µBTC, nBTC, and so on. Supply and demand adjusts.
(some litecoin derivatives like DOGE have been a bit more liberal in supplying coins though long-term)
godammit why do people have to make buying drugs online so hard
[editline]14th February 2014[/editline]
I only want to get crack delivered to my door, is that too much to ask?
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