Ninjastic
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Board Bitcoin Discussion
Re: WARNING! Bitcoin will soon block small transaction outputs
by
bitcoin_bob
on 06/05/2013, 00:40:37 UTC
Quote from: Vladimir on May 05, 2013, 07:16:13 PM
Quote from: mpfrank on May 05, 2013, 07:11:14 PM
Quote from: jdillon on May 05, 2013, 06:51:20 PM
Gavin Andresen has changed the Bitcoin code to block any output with a value of less than 54uBTC:
...

So, what happens when Bitcoin takes over the world economy, and 54 uBTC is worth a lot of money ($54 say)?  Then Bitcoin will only be usable for large-value transactions...  It will be more like the existing inter-bank wire-transfer system at that point...

Yes, the price on money transfers will be determined by free markets. It is not impossible that bitcoin will mostly be used for debt settlement and large transfers like real estate transactions and inter bank ops.


Well I'm auctioning off a house in Bitcoin at the moment because I agree wholeheartedly that this kind of transaction is what BTC is useful for. However, when I go to spend my BTC on goodies, I don't want to HAVE to buy another house with them Smiley