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Silbtsc ( talk ) 17:21, (UTC) Done - Current lede correctly calls Bitcoin as a payment system/protocol. Forex currency pairs, precious metal pairs (gold and silver). Mrcatzilla ( talk ) 18:23, 5 November 2013 (UTC) "The competitive advantage lower fees confer to Bitcoin may lessen or vanish in the future, however." Can we find a reference on that that's not a Wired article from 2012? We survive on donations averaging about. So why not say simply, "Most Bitcoin transactions don't require a fee to be processed by the network."? This appears to be the only benefit to Bitcoin, and it's woefully absent from the page. Demand, with the current mining reward.5 BTC per block solution, Bitcoin supply is inflating at around 4 annually. Then it's bye, bye. If you would, please elaborate on what of the "functions of money" you don't think Bitcoin satisfies. Ditto if you paid employees? Rezonansowy ( talk contribs ) 17:48, 31 December 2013 (UTC) @ Rezonansowy : - Regarding your reference to Open_standard#Protocols, I feel you are alluding to a requirement that a standard be approved by a government supported organization like ietf.

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Is there a way we can post a permanent bitcoin vs Bitcoin usage statement at the top of this page to try to prevent this from happening? ( talk ) 02:43, 28 November 2013 (UTC) As Bitcoin goes more mainstream the use of physical tokens,.e., real coins, is sure to rise. So ask again, why should forex services hubli we leave "open source" in the lead? Tgm1024 ( talk ) 16:18, 13 December 2013 (UTC) bitcoin. Paper wallets avoid the pitfalls of other methods, but they're tricky to set up correctly, and of course you're out of luck if you lose the piece of paper. (I haven't even a clue what you might be hinting at). Something along these lines could be mentioned or discussed in the "Economics of Bitcoin" section. What is the source for the "prompting assertions" statement? Some of the IP edits have beneficial, others not. Think of the software source itself as the documentation for the exact protocol.

IDK how easily all the countries listed would fit into three categories, but I think you get the rough outline of my proposal. What do they mean by "mining" and the use of supercomputers? The Forex Hub community boasts 1,000 motivated and inspiring students from all over the. The (thoroughly at least) dishonest ones tend to go out of business, and maybe get arrested. Chris Arnesen 15:45, (UTC) Block chain is two words As it stands, the article uses "blockchain all one word, whereas "block chain two words, is more standard.

Chris Arnesen 22:40, (UTC) The above subtly links the open source-ness and the protocol. Apologies forex services hubli for already forgetting my grammar lesson Chris Arnesen 16:41, 31 December 2013 (UTC) Well, I hope I wasn't being patronizing. Since Bitcoin has no single authority, some media outlets have tried to spread opinions as fact. The uncited new text isn't correct though : "But this reward is halved every few years, meaning a sustained increase in the value of bitcoins relative to other currencies is necessary to keep fees low." I don't see how that conclusion follows. Chris Arnesen 20:39, 1 December 2013 (UTC) User:Laser_brain fixed these up, thanks. The operators of this network, known as " miners are rewarded with transaction fees and newly minted bitcoins." The "who" implies that owners are identified by name. I hope that some of the more seasoned editors will weigh in here. Jerome Potts ( talk ) 20:14, 22 November 2013 (UTC).

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Fleetham ( talk ) 20:58, (UTC) Most miners pool. A bitcoin, on the other hand, is really truly only worth as much as I can find someone to pay for. Chris Arnesen 03:37, 28 December 2013 (UTC)s Again, it makes no sense to call something an "open source protocol". Laser brain (talk) 16:03, 2 forex services hubli December 2013 (UTC) Preceding unsigned comment added by ( talk ) 14:06, 6 December 2013 (UTC) That article discusses incidents of Bitcoin fraud, supporting the "covered in the media" part of that sentence, but that part isn't in doubt. Moreover, some of the paragraphs talk about a technology (e.g., asic) and even asics do better hashes, but don't say much about bitcoin. Chris Arnesen 07:47, (UTC) I probably wasn't clear. Chris Arnesen 20:02, (UTC) Resolved Reference to SilkRoad seizure value. Rezonansowy ( talk contribs ) 10:02, 28 December 2013 (UTC) Done.

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As for the network, if I have 1000 bitcoins and the market price crashes to zero, it's not like my bitcoins entitle me to an asic mining rig or something like that. This can easily go after the first para or different section. Samwalton9 ( talk ) 15:20, 16 December 2013 (UTC) What's a "bitcoin" anyway? This is happening already but will only accelerate. Besides Fleetham, please fill the Edit summary to inform what you're doing with the article and provide a talk page entry when appropriate, for example : Removing open source statement per talk page. I'm looking to hear thoughts on what else should be considered for a reliable source for Bitcoin. Silbtsc ( talk ) 17:24, (UTC) Computer refers to the whole enchilada. The only requirement is that the blockchain won't accept such entries without transaction costs paid in BTC. So why not write a few paragraphs that generalize the differences in regulations into two or three tiers and then mention each and every country that falls into these classes? CPU's are not very efficient at processing SHA256 hashes. Fleetham ( talk ) 16:34, 4 November 2013 (UTC) I've added a few mentions of the low fees (along with examples).

I feel that point is where lot of people don't understand the irreversible nature of the ledger. Okay, assuming it's just electrons or something-digital, I can accept it fulfills the portability requirement. I'd say that's pretty definitive. VinceSamios ( talk ) 09:55, (UTC) Fair enough. I sincerely apologize for losing my temper and reacting in anger. Bitcoiner, member, offline Activity: 70 Merit: 10 Gavin Andresen Legendary Offline Activity: 1652 Merit: 1019 Chief Scientist How often do you get the chance to work on a potentially world-changing project? Are you selling printed notes? Are these limited only to verifying the transactions?

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No reason to changing the image, wordmark should be included if available, this is standard and present on many articles. Far too much fluctuation and varying prices for any one value to be"d in the infobox. Should this be part of the known scams list? Over time, this strategy (known as Dollar-cost averaging will allow you to accumulate bitcoins at a decent average price without the stress of trying to predict the sometimes wild gyrations of Bitcoins price). I believe it was originally illustrating the blockchain? "request" means "politely or formally ask for".

Silbtsc ( talk ) 16:51, (UTC) I moved the new section "recorded by specialized computers" to this existing section. (perhaps, more questions as to what they are). Here Gavin Andresen does a forex services hubli back-of-the-envelope calculation of the marginal cost to the miner for including more transactions in a block. Any model or analysis that attempts to predict or explain the behavior of bitcoin in the recent past or near future would be best to assume a constant rate of production. Wikipedia, states at that it accepts donations by Credit/debit card, PayPal, Monthly gift, Check (via mail Stock donation, Bank transfer, Legacy gift, Matching gift, and Payroll deduction, and accepts Paypal donations.S.

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Non-specialized hardware in this context is just doing it for the fun. Chris Arnesen 22:35, 14 December 2013 (UTC) OK, I've added cite from BTC wiki -. In real world futures markets provide the price discovery mechanism and futures trading seems to start gaining momentum in the BTC world too. So ask again, why should we leave "open source" in the lead? So tell your friends! It is possible, even likely, that the intent is to hope readers of the article submit money to the address - and to that end, there has already been edit warring over which address is used, as different people. (not really).Also where can I buy those special computers? Chris Arnesen 00:10, (UTC) @ Fleetham : After a thorough read of Wikipedia:No_personal_attacks, I conclude that my comments above were indeed a personal attack. Org logo" or something like that. Here's the edit in question p?titleBitcoin oldid. When I buy a 2 cup of coffee on my credit card, the coffee shop pays something like.50 in transaction fees (source : the owner of my local coffee shop). It's been challenged, and you do not re-add forex services hubli it unless you have reliable sources indicating the symbol is in common use. Bitcoin has experienced at least two such cycles and will likely experience more in future.

This statement has a couple shortcomings. This should probably be added to the FAQ. Wouldn't places that deal not in money but in bitcoins arouse interest by guv'mint agencies? If you forex services hubli would, please elaborate on what of the "functions of money" you don't think Bitcoin satisfies. I am restoring it to the original statement." which is: The rate of new Bitcoin creation will be halved every four years until there are 21 million BTC. M appears to be harmless. A TV has intrinsic value because I can watch TV. "In one instance, Bitcoins worth millions of US dollars were transferred for only a few pennies." It's hard for me to know what the original author of that sentence was thinking because the reference link is broken. Chris Arnesen 20:01, 22 November 2013 (UTC) Indeed, that which i"d is from the Economics section. But I find it difficult to imagine how simple speculation on the future popularity of bitcoins for actual purchases merits any mention. This open access attracts individuals wanting to conduct illicit activities using Bitcoin ref-FinCENref-secret service.

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Now it just says "Transactions are verified.". (b) My sentences come from the main Bitcoin and b-money papers. Don't expect me to read what you've written prior. A bitcoin, on the other hand, is really truly only worth as much as I can find someone to pay for. Participants known as miners verify, timestamp, and record transactions into a shared public database called the block chain, for which they are rewarded with transaction fees and newly minted bitcoins.7 How does that sit with everybody? We're no longer able to automatically undo that changeset due to intervening edits, so we will have to redo those manually. I suppose other items can be used for money: bills from other countries, gold, cigarettes, marihuana itself, chocolate, silk stockings, blue jeans, beaver pelts, whatever. Someone not using his real name ( talk ) 21:55, 24 December 2013 (UTC) There's now a new article in El Reg 12, somewhat more technical.

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Lots of economists seem to have written about this but there is very little in the article. The 21 million bitcoin ceiling won't be hit until 2140! Laser brain (talk) 16:19, 31 December 2013 (UTC) Agreed, there's simply nothing to warrant this. It's actually a notable fact that will strongly shape the future of Bitcoin that only the serious asic miners can contribute to the block chain hash rate in a meaningful way. Bitcoins transaction can't be traced with the same ease and the producer of a coin like m can stall the amount just because he knows the private forex services hubli key once and preserved. What do they mean by "mining" and the use of supercomputers? Heres what I think. How about this: "Bitcoin is a peer-to-peer payment system and digital currency. So here's my understanding. However, it also mentioned that the UK Government was keen on the nation becoming a center for international bitcoin transactions or something. Ignore the practicality but technically, I'm free to write my own software that follows Bitcoin protocol and sell it without the need to open source. "In addition, once the Bitcoin ceiling, a hard limit on the number of bitcoins in existence, is reached, payment processing will no longer be incentivized." That's not true.

It is, first and foremost, a technological revolution and there is absolutely no reason to think that innovation will stall. This rate will drop sharply in 2020, when the next reward halving occurs. Chris Arnesen 23:15, 9 December 2013 (UTC) I'm not sure I agree with the definition of intrinsic value as it pertains to Bitcoin since one bitcoin (unit) is attributed a portion of value provided to it by the protocol, network and data of Bitcoin. The many articles that lack a "global view" of a topic instead presenting a US-centric take.) I don't have any issue with changing the wording from transaction log. Your other point was that the computers that do the proof-of-work aren't all specialized.