Quote from: rpietila on May 22, 2014, 05:26:32 PM

Quote from: wachtwoord on May 22, 2014, 05:17:27 PM

Quote from: rpietila on May 22, 2014, 04:44:40 PM

Quote from: BTCtrader71 on May 22, 2014, 04:28:53 PM

Quote from: wachtwoord on May 22, 2014, 04:14:06 PM

Quote from: rpietila on May 22, 2014, 04:09:04 PM

Quote from: pinksheep on May 22, 2014, 03:45:17 PM

Forgive my ignorance, but what is a supernode?

In this context it means a person with personal crypto holdings valued at least BTC100, plus other qualifications.

Wasn't it BTC1000 before? BTC100 is only $52k of buying power atm.

Pretty soon it will only take BTC1. There goes the neighborhood .... Grin

The first class would be BTC1000 or more currently. The guys who don't need to care about anything else

Here the context was about participating the conference. And I would say it is a +EV experience for a 100 coin holder because he gets to know the advance info on what happens when his stash is worth a million. Attending costs about BTC2 for a European (incl all) so it is reasonable for somebody with BTC100 but not for one with BTC10.

2 on 100 is 2%. That's a lot. Maybe it's different because I'm from the time of paying $1 for a stock purchase instead of the few percent a lot of people seemed to accept from their brokers in the eighties.

Even at BTC1000 I would consider BTC2 a serious expense (0.2%)

As you know by reading my thread in ToF, I advocate that people deep in bitcoins spend a percent of their holdings annually for keeping up with what happens in Bitcoin, projects, donations, etc. In the 1000% per year appreciation framework, I am anyway proposing a 30% divestment per year (10% at each doubling). Giving 5% back to the community is in the limits of possibility, right? Often picking a good meetup is really enlarging.

Then there is the other side: if you don't follow what's happening, even the loss of your bitcoins is a possibility. I know many people who lost a lot in Mt.Gox case where 7% of all bitcoins were stolen. Investing 5% is also reasonable in this context, if it enables you to be on the better side of the 7%. (I lost there also, but less than 7% of my holdings, so I was lucky - or prepared).

The main thing of course is that I'd like to have you there cause I think you are one of the most valued contributors here!

Yes I know what you're advocating. The goal of my question was mostly to give you the opportunity to explain yourself here as well and to answer the question more directly.

On the other hand the compliment wasn't lost on me, thank you

(although my "contributions" have mostly been limited to my participation in discussions). I still believe many many others to be far better candidates than me (people actually creating things such as yourself for instance).

Oh, and at times I can be a frugal bastard Wink