Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
BlindMayorBitcorn
on 15/02/2016, 23:34:47 UTC

If users are going to be put off by, say, 10-20 cents in fees, then perhaps they can buy plenty of lube and go get fucked by the banks and the paypals instead. Having 1-2-3 cents in fees and complaining that it's the end of the world if we go upwards and that it's crippling adoption, when RL banking payments are charging the hell out of us (and they are being used everyday by billions of people) and we get fucked by them constantly, is somewhat hypocritic.

Besides the main selling point of BTC shouldn't be an addiction to near-zero cost txs (which we know that is not sustainable in the long run), but rather its decentralized nature and its advantages over central banks (as a token/currency) and commercial banks in terms of controlling your money, paying without trusted 3rd parties which could withhold or confiscate your money, the non reversibility of (confirmed) txs etc etc.

It's not 20 cents in fees. It's $8 and it's being subsidized by you and me, the buyers of BTC.

And it's not decentralized with 75% of the mining in China.  We are operating under the required consent of The People's Democratic Republic of China.



The centralization of mining power doesn't ipso facto mean the centralization of Bitcoin, does it? Do you think it does?

Yes, because the Chinese government could nationalize the mines and then double spend. The Red Chinese government has a long and storied history of nationalizing industries when it suits their purpose.  

Don't you think pools would just point elsewhere?