Quote from: mpfrank on October 15, 2011, 08:22:42 PM

Quote from: phillipsjk on October 15, 2011, 05:42:45 AM

Quote from: mpfrank on October 14, 2011, 11:53:43 PM

(C) Each user of the reference client, which is copyrighted in every country, is required to first register their real-world identity with a central service, and sign a legally-binding contract promising that, in exchange for a perpetual license to use the reference client or any other software derived from the reference client, they will, in perpetuity, accept 1 BC2 from anyone in place of at least US$1 worth of any existing sovereign currency that is owed them (based on the exchange rates on the date that the BC2 block chain was started). International patents are also secured, to ensure that other clients following the protocol but not derived from the reference client and not subject to its licensing agreement cannot be distributed.
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Any thoughts?

Kill it with fire.

I returned a $200 printer, possibly a $400 dollar printer sold "at cost", because the box claimed that by using the printer I was subject to a patent license (which required using the print catridge exactly once, then mailing it back to Lexmark). I now avoid the store I bought the printer at becuase they are willing to sell products that impose unreasonable conditions on their customers.

Bitcoin is still experimental. If bitcoin really is good, a pyscological price barrier won't last long. If you think there is such a barrier and that bitcoins are undervalued, you should be buying them up cheap.

I'm saying the psychological barrier is currently preventing Bitcoin from growing as much as it otherwise would be able to. If we redefined the standard BTC unit to a smaller one, it might indeed help the situation. It's the same reason why companies do stock splits - because a stock priced at $200/share looks frighteningly "expensive" to the casual observer at first glance, regardless of whether it is actually overvalued in terms of fundamentals like market cap or earnings per share.

They do stock splits because stocks are not commonily divisible. You own 1 share or more or you don't own any. Not a problem with bitcoin. If the price get to high I can just say "I'll buy that there rolex for 100 milli-BTC".