Bitcoin isn’t currently practical for very small micropayments.
SATOSHI NAKAMOTO
SATOSHI NAKAMOTO
Satoshi Nakamoto on bitcoin
“Bitcoin isn’t currently practical for very small micropayments.”
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The Bitcoin network might actually reduce spam by diverting zombie farms to generating bitcoins instead.
Satoshi NakamotoSatoshi Nakamoto You could say coins are issued by the majority. They are issued in a limited, predetermined amount.
Satoshi NakamotoSatoshi Nakamoto The utility of the exchanges made possible by Bitcoin will far exceed the cost of electricity used. Therefore, not having Bitcoin would be the net waste.
Satoshi NakamotoSatoshi Nakamoto The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime.
Satoshi NakamotoSatoshi Nakamoto Lost coins only make everyone else’s coins worth slightly more. Think of it as a donation to everyone.
Satoshi NakamotoSatoshi Nakamoto The heat from your computer is not wasted if you need to heat your home.
Satoshi NakamotoSatoshi Nakamoto Subscription sites that need some extra proof-of-work for their free trial so it doesn’t cannibalize subscriptions could charge bitcoins for the trial.
Satoshi NakamotoSatoshi Nakamoto Bitcoins have no dividend or potential future dividend, therefore not like a stock. More like a collectible or commodity.
Satoshi NakamotoSatoshi Nakamoto Bitcoin generation should end up where it’s cheapest. Maybe that will be in cold climates where there’s electric heat, where it would be essentially free.
Satoshi NakamotoSatoshi Nakamoto For greater privacy, it’s best to use bitcoin addresses only once.
Satoshi NakamotoSatoshi Nakamoto Bitcoin would be convenient for people who don’t have a credit card or don’t want to use the cards they have.
Satoshi NakamotoSatoshi Nakamoto When someone tries to buy all the world’s supply of a scarce asset, the more they buy the higher the price goes.
Satoshi NakamotoSatoshi Nakamoto If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry.
Satoshi NakamotoSatoshi Nakamoto Imagine if gold turned to lead when stolen.
Satoshi NakamotoSatoshi Nakamoto When there are multiple double-spent versions of the same transaction, one and only one will become valid.
Satoshi NakamotoSatoshi Nakamoto Writing a description for this thing for general audiences is bloody hard. There’s nothing to relate it to.
Satoshi NakamotoSatoshi Nakamoto