Quote from: alyssa85 on May 28, 2013, 10:40:18 PM

Quote from: osoverflow on May 28, 2013, 10:32:55 PM

Quote from: alyssa85 on May 28, 2013, 10:14:42 PM

Quote from: Luckybit on May 28, 2013, 06:42:48 PM

Exactly. Tokens are like tickets. You want to get on the train or bus? You buy a token. You want to gamble? Buy some chips. It's not going to gain in value over the years and it's not designed for you to keep your money in it for long periods of time. It's not designed for you to actually spend it either, it's for a specific purpose within a narrow focus of a community.

Devcoin is like that. It only exists as a support structure for Bitcoin until Bitcoin has infrastructure to pay people in Bitcoins and then Devcoin is done. No one is going to choose to get paid in Devcoins over Bitcoins just because theres an octillion Devcoins. And the moment someone comes along and forks Devcoin and adds the ability for the tokens/coupons to expire is the moment Devcoin becomes second best. Nothing is wrong with infinite inflation if the inflation is nice and slow, and if there is an expiration date. Devcoins seem to have no expiration date and are generated so fast that I cannot see how it will work up against a fork which has expiration built in.

I disagree. Have just done another Devtome article on Bitcoins and the Big Mac Index:

http://www.devtome.com/doku.php?id=bitcoin_and_the_big_mac_index

As you can see Bitcoins are already becoming un-usable for transactions in some parts of the world (and that will soon be the case in the developed world too).

Some people laughed at the Winklevii for buying bitcoins and simply putting them in bank vaults - but perhaps they saw the nature of it more clearly - which is that it is a commodity not a currency. As soon as it becomes unviable for transactions, it ceases to be a currency, IMO.

Bitcoin should have a fee based on percent of the amount instead of fixed number of uBTC, who define how much fee is for a transaction? the nodes? the client?

It's the miners who demand the fee - and we're already seeing exorbitant fee demands based on the number of inputs. On reddit someone posted their problem of trying to send $10 and being charged a fee of $9 (because the transaction was made up of many inputs). We've also seen blocks mined with no tranactions included at all, just the 25BTC reward.

The greed of the miners will kill the project especially when combined with it's forced deflationary aspect. I think it will end up as just another asset and devcoin or another coin will be used for real commerce.

I found this link: http://bitcoinfees.com/

It explains who decide the fee. It seems that it is the client based on some formula.