I'm wondering about the inflation. If the demand can keep up with the growing supply. At a rate of 7200 BTC per day, in one year that will be 2,628,000.
That rate is going to drop in half sometime next year.
What will happen to the poor chump in the future, oh let's say 2056, when e decides he want's to open a bitcoin account? Will that poor chump have to download all the blocks since the beginning of bitcoin existence?
Yes, but internet speeds will be much faster and there are optimizations that can be implemented that will make the block download faster. For example, the Android Wallet downloads the blockchain pretty fast.
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BoardBeginners & Help
Re: Bitcoin Monday is approaching:
by
Dratt
on 09/09/2011, 00:10:12 UTC
More spam. Ew.
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Topic
BoardBeginners & Help
Re: So who's buying bargain Bitcoins this morning?
by
Dratt
on 07/09/2011, 04:23:30 UTC
Buy moar bitcoins.
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BoardBeginners & Help
Re: bitcoins. waste of money?
by
Dratt
on 07/09/2011, 04:15:02 UTC
Do you have an Android phone? The Bitcoin Wallet is a great demo of how you can send money back and forth using Bitcoins.