Bitcoin Available at 10,000 Indomaret Stores in Indonesia • Hacker News Board

Re: Bitcoin Available at 10,000 Indomaret Stores in Indonesia

#21

Post by JoshTriplett » Wed, Sep 03, 2014, 5:57 PM UTC

tlo wrote: post #20

JoshTriplett wrote: post #18

Earlier quoted context omitted.

> Bitcoin wallets are far easier to create than bank accounts. What's the recommended wallet software to use these days that doesn't need tens of gigabytes of blockchain storage? All of the non-full-blockchain clients seem shady to varying degrees.

I like Electrum: https://electrum.org/ From the site: "Instant on: Your client does not download the blockchain. It uses a network of specialized servers that index the blockchain"

SPV doesn't seem like the right approach. I'd like to see full blockchain hash verification, just not starting from the very beginning of the chain. Why not download the hash of a more recent block and verify the chain starting from there, periodically throwing away old blocks in favor of a single hash?

Re: Bitcoin Available at 10,000 Indomaret Stores in Indonesia

#22

Post by Andrew_Quentin » Wed, Sep 03, 2014, 6:20 PM UTC

jarek wrote: post #19

markburns wrote: post #15

Earlier quoted context omitted.

That sounds like a fair question but could equally be disingenuous. Is the rate of lack of use of bank accounts ever likely to be public knowledge? There's zero incentive on the banks' side to publicise that kind of information. If it's not publicly available then your question sounds quite loaded.

> Is the rate of lack of use of bank accounts ever likely to be public knowledge? There's zero incentive on the banks' side to publicise that kind of information. Public authorities can estimate this (FDIC in the U.S. has done so) and general trends should be evident (if half of previously unbanked Indians get bank accounts we won't need banks to tell us). But fair - just the rate of Bitcoin wallet creation then? May…

Bitcoin wallet creation went from 1 million to 5 million since last year and it keeps increasing.

Re: Bitcoin Available at 10,000 Indomaret Stores in Indonesia

#23

Post by jarek » Wed, Sep 03, 2014, 7:02 PM UTC

Andrew_Quentin wrote: post #22

jarek wrote: post #19

Earlier quoted context omitted.

> Is the rate of lack of use of bank accounts ever likely to be public knowledge? There's zero incentive on the banks' side to publicise that kind of information. Public authorities can estimate this (FDIC in the U.S. has done so) and general trends should be evident (if half of previously unbanked Indians get bank accounts we won't need banks to tell us). But fair - just the rate of Bitcoin wallet creation then? May…

Bitcoin wallet creation went from 1 million to 5 million since last year and it keeps increasing.

Thanks! For comparison, Indonesia's population has grown by around 2-3 million people per year over the last two decades; India's by around 17 million people per year; and the world's rate as a whole is about 70 million per year.

Re: Bitcoin Available at 10,000 Indomaret Stores in Indonesia

#24

Post by Andrew_Quentin » Thu, Sep 04, 2014, 9:04 PM UTC

jarek wrote: post #23

Andrew_Quentin wrote: post #22

Earlier quoted context omitted.

Bitcoin wallet creation went from 1 million to 5 million since last year and it keeps increasing.

Thanks! For comparison, Indonesia's population has grown by around 2-3 million people per year over the last two decades; India's by around 17 million people per year; and the world's rate as a whole is about 70 million per year.

Those are absolute numbers. From 1 million to 5 million is a 500% increase. I doubt any nation has seen anywhere close to a 500% increase in their population numbers.