Quote from: xcooling on August 02, 2011, 09:39:49 PM

Difficulty increases ... Miners earn less btc and bitcoins take longer to generate.. less new btc on the market.

Market value continues to drop .. mining no longer becomes profitable.. less new btc on the marker

The amount generated by the network as a whole is the same. Whether or not the coins are brought to the market is dependent on the particular individual.

Quote from: xcooling on August 02, 2011, 09:39:49 PM

What we really need is a secure and easy payment service to rival paypal.

Average joe and jill need to be able to use bitcoins not just techies.

right now supply outweighs demand.

I cannot agree with this more. This is the most critical flaw in the Bitcoin design. It's aimed at techies and not Joe.

For example:
How can you convince any shop owner to begin accepting Bitcoin as a payment method? And then having to explain the entire system?