11–17 of 17 posts
How many millions around the world are lost in the form of dropped pennies no one will ever bother to pick up? Is cash eating itself?
Do you think that's a fair comment on the article?
.0004 BTC is 50 cents. So this is one reason why, but still it's comparable to bank fees to get one of these useless coins every now and again.
On a related note, I wonder how much value is orphaned due to lost keys. If people forget their passwords, they can forget their keys/passphrases. Myself, I just had a hard drive failure. Of course, I have backups, but how many non tech savvy people are diligent about backups? Considering the total amount of bitcoins is limited by design, this will eventually be a problem. I really dont think bitcoin is a viable curr…
Wish I had kept the details, but it's nearing a decade ago, and that harddrive is long gone, unfortunately.
How many millions around the world are lost in the form of dropped pennies no one will ever bother to pick up? Is cash eating itself?
Do you think that's a fair comment on the article?
On the other hand, If a crashed hard-drive contains some money, maybe at some point could be economically feasible to try to recover and copy it in a laboratory?.
On a related note, I wonder how much value is orphaned due to lost keys. If people forget their passwords, they can forget their keys/passphrases. Myself, I just had a hard drive failure. Of course, I have backups, but how many non tech savvy people are diligent about backups? Considering the total amount of bitcoins is limited by design, this will eventually be a problem. I really dont think bitcoin is a viable curr…
I agree though that Bitcoin is not a viable mainstream currency.
On a related note, I wonder how much value is orphaned due to lost keys. If people forget their passwords, they can forget their keys/passphrases. Myself, I just had a hard drive failure. Of course, I have backups, but how many non tech savvy people are diligent about backups? Considering the total amount of bitcoins is limited by design, this will eventually be a problem. I really dont think bitcoin is a viable curr…
Bitcoin is not a replacement for paper money, but for digital money. Only in developed countries, digital money is in mainstream use. Outside, the majority of people are "unbanked".
The problem with digital dollars is that government and banks can create them out of the fricking blue. They effectively do that -- all the time actually -- while in the process debasing and devaluing the dollars that you are holding.
I got many of my bitcoins a few years ago at $250/btc. Now they are almost $1500/btc. I think that bitcoin is a very viable digital currency. Seriously, I am not willing to exchange them for liberally-printed digital dollars.
On a related note, I wonder how much value is orphaned due to lost keys. If people forget their passwords, they can forget their keys/passphrases. Myself, I just had a hard drive failure. Of course, I have backups, but how many non tech savvy people are diligent about backups? Considering the total amount of bitcoins is limited by design, this will eventually be a problem. I really dont think bitcoin is a viable curr…
I had about 100 bitcoins mined in the extreme early days and weeks, but I wasn't really a believer and just did it to see what it was about, and never thought it would be worth money per se. Wish I had kept the details, but it's nearing a decade ago, and that harddrive is long gone, unfortunately.
Earlier quoted context omitted.
Do you think that's a fair comment on the article?
Hang around in a place like r/bitcoin, and you'll find that criticism is often met with redirection toward fiat rather than having a legitimate discussion about how to address shortcomings.