Mike Hearn [ARCHIVE] on Nostr: 📅 Original date posted:2014-03-06 📝 Original message:Thanks Alex! About the ...
📅 Original date posted:2014-03-06
📝 Original message:Thanks Alex!
About the video - I'm curious how your device is better than just a regular
tablet. Could you give us the elevator pitch? :)
On Thu, Mar 6, 2014 at 3:39 PM, Alex Kotenko <alexykot at gmail.com> wrote:
> I mean - if with Bitcoin v0.9 transaction fees will become really
> floating, and it should eventually reach equilibrium that will reflect some
> real world value. Probably a tiny value, but probably also rather stable
> value. So confirmationless payment cap may be defined as
> <current_average_transaction_fee>x10000.
>
I guess fees will wander up and down depending on system load rather than
real world value - but maybe you're right. That said, all wallets sync
exchange rates automatically already.
In some Star Trek future, perhaps we would want Bitcoin to be independent
of other value units. But I'm not convinced such a world will ever exist.
Arguably, a stable currency would slowly become worth more over time in
line with economic growth. But then for stable prices you would need
something like a fake currency that was "backed by" (really: represented
by) a basket of goods. Otherwise over time your rent would go up in real
terms, for good real reason.
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20140306/608da23e/attachment.html>;
📝 Original message:Thanks Alex!
About the video - I'm curious how your device is better than just a regular
tablet. Could you give us the elevator pitch? :)
On Thu, Mar 6, 2014 at 3:39 PM, Alex Kotenko <alexykot at gmail.com> wrote:
> I mean - if with Bitcoin v0.9 transaction fees will become really
> floating, and it should eventually reach equilibrium that will reflect some
> real world value. Probably a tiny value, but probably also rather stable
> value. So confirmationless payment cap may be defined as
> <current_average_transaction_fee>x10000.
>
I guess fees will wander up and down depending on system load rather than
real world value - but maybe you're right. That said, all wallets sync
exchange rates automatically already.
In some Star Trek future, perhaps we would want Bitcoin to be independent
of other value units. But I'm not convinced such a world will ever exist.
Arguably, a stable currency would slowly become worth more over time in
line with economic growth. But then for stable prices you would need
something like a fake currency that was "backed by" (really: represented
by) a basket of goods. Otherwise over time your rent would go up in real
terms, for good real reason.
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20140306/608da23e/attachment.html>;