Hello, Does anyone have experience using the concept of coin coloring to distribute IPO's for a new corporation? Can anyone speak to the effectiveness of this concept, any pros and cons? Perhaps any technical challenges while attempting to utilize this method? On a tangent; does this coloring method make your bitcoins infinitely divisible? Thank you kindly in advance for any insight or input. Zerp (for reference sake, www.coinprism.org is one example of this service provider)
Despite banks using bitcoin as a unit of accounting, and prototypes like colored coins being successful, butters use children's videos to reassure themselves that an infinitely divisible coin can still be valuable and scarce.
If inflation and deflation are pointing to money supply, and bitcoin is infinitely divisible, doesn't that mean neither will happen?
What people are really talking/worried about are deflationary/inflationary forces right? ie. what happens to your purchasing power when either thing happens. so in the future i think it's feasible that when anything is sold, that price is uploaded in real time so people can immediately see how much is fair exchange value. so it wouldn't even matter if people hoarded their coins right? plz correct me if i'm compeltley off
"Bitcoins are infinitely divisible" - why does this make sense when compared against transaction fees?
I see arguments on here saying that even if BTC prices get too high, the denominations are infinitely divisible and thus are not a worry. Although that may be true in theory, as a practical matter I don't think that makes sense. Transaction fees are currently .0005btc, and @ $125USD that makes it equivalent to about 6 cents. At $1000, a .0005btc fee is about 50 cents. If the fee increased to .001btc like some people are advocating for, it gets raised to $1. At some point, the price may get so high that it will make little, everyday transactions unfeasible. The pack of gum at the grocery store, the candy bar from the vending machine, the Costco hot dog... at some point the transaction fees will be greater than the price of the item. This is important if, as some are advocating for, bitcoin is to take over as a new form of currency. A currency should be able to handle all of the little transactions on top of the big ones. So why does the "infinitely divisible" rationale make sense? I am admittedly a bitcoin noob, but Google didn't seem to turn up any results for my inquiry.
Bitcoin is antifragile, criticism should be welcome
I'm very disappointed when I start a thread that seems to question Bitcoin and I get downvoted (like this one: https://www.reddit.com/Bitcoin/comments/g90nlg/at_what_rate_can_mining_productivity_keep/ ). I'm a hodler, I think Bitcoin is the best kind of money that ever existed. It's just how money should be, its supply can't be manipulated by anyone, transactions can't be stopped by anyone, it's infinitely divisible, it's fungible, inflation is negligible. It's a fucking masterpiece. And it's antifragile. Every time a government meddles with its citizens with capital controls, every time a bank freezes your account or makes transactions expensive and slow, every time you lose 3% converting currencies, every time a central bank increases its money supply, every time a government bailouts some grasshopper by devaluing your hard-earned money, Bitcoin grows stronger. None of that unfair bullshit can happen in Bitcoin. So why when I make a legit question I'm just being downvoted? Is Bitcoin just a get rich quick scheme for you? Is this reddit just a place to post stupid memes and talk about today's price or a place to have actual discussions with others that care about Bitcoin long term?
ℳonero possesses every characteristic of Sound Money: durability, portability, divisibility, uniformity, limited supply, and acceptability.
There have been many forms of money in history, but some forms have worked better than others because they have characteristics that make them more useful. The characteristics of money are durability, portability, divisibility, uniformity, limited supply, and acceptability . Let's compare two examples of possible forms of money:
A cow. Cattle have been used as money at different points in history.
ℳonero equal to the value of one cow.
Let's run down our list of characteristics to see how they stack up.
Durability A cow is fairly durable, but a long trip to the market runs the risk of sickness or death for the cow and can severely reduce its value. Units of ℳonero cannot deteriorate or become broken in any way. It exists digitally within a decentralized peer-to-peer network which has no central point of failure.
Portability. While the cow is difficult to transport to the store, ℳonero can be easily be transferred wherever an internet connection is available.
Divisibility. A unit of ℳonero is practically infinitely divisible, up to 12 decimal places. A cow, on the other hand, is not very divisible.
Uniformity. Cows come in many sizes and shapes and each has a different value; cows are not a very uniform form of money. Because accounts and transactions are encrypted, every unit of ℳonero is essentially freshly minted currency and thus treated equally.
Limited supply. In order to maintain its value, money must have a limited supply. While the supply of cows is fairly limited, if they were used as money, you can bet ranchers would do their best to increase the supply of cows, which would decrease their value. The supply, and therefore the value, of ℳonero is established by code agreed upon by the network participants so that the amount of money created is known and controlled.
Acceptability. Even though cows have intrinsic value, some people may not accept cattle as money. In contrast, as ℳonero adoption grows, people will be more than willing to accept your ℳonero. ℳonero can also be exchanged on numerous currency exchanges for any major currency in the world.
Well, it seems "udderly" clear at this point that ℳonero is a much better form of money than cattle. Apply these same properties to other currencies like gold, USD, or Bitcoin and see how they stand up against ℳonero. Is gold portable? Is there a limited supply of US Dollars? Is every unit of bitcoin uniform? You will come to realize why ℳonero is perfectly sound money, the likes of which has never been seen before.  Functions of Money, The Federal Reserve Bank; The Economic Lowdon Podcast (2020)
Why libertarians should transact in cryptocurrency - DITCH THE FED DOLLAR!
Let's start with some of the more insidious controls the state has put on Americans. Specifically, KYC/AML, suspicious transactions reporting, income reporting, and investing. KYC/AML is prevented entirely when both parties, and all parties they transact with do their transactions in peer to peer transactions. People who deal with both dollars and cryptocurrencies are edge nodes in a crypto economy, and they are subject to kyc/aml. However people who deal purely in cryptocurrency are able to completely escape kyc/aml, because they never interact with an entity that has kyc/aml requirements. Suspicious activity reporting is when an american takes any action outside of the ordinary. Move 5,000 to buy a car? Suspicion activity report. Give your girlfriend 1,000 when she takes home a bimonthly paycheck of 1200? Suspicious activity report. The banks are bound by federal law to make these reports, and they go towards assisting the IRS. They also increase your chance of audit by the IRS. This reporting is insidious, because most Americans don't realize it, or even interact with it. It is data theft. Income reporting is also insidious. It is insidious, because if you don't tattle on your employee to the IRS about how much your employee made, you are legally liable. Transacting in cryptocurrency or shares instead of normal dollars makes this incredibly painful for an IRS agent to decipher, let alone understand. For example, let's say I were paid in dogecoin, and then I used my dogecoin to buy monero (which completely obscures even on chain analysis), and then I bought bitcoin and used that to buy groceries, the IRS agent investigating that string of transactions would be pulling blanks especially if I cashed out at a later date to dollars. This isn't intentional tax evasion here. It is simply the nature of cryptocurrencies to be resistant to analysis by the fed. The opportunity cost to audit people goes up by an order of magnitude when they are transacting in crypto. Investing is another part of where the federal government has impinged upon the rights of Americans. If you are not a qualified investor, brokers are FORBIDDEN to allow you to buy shares of startups that are not publicly listed. qualified investors (either independently wealthy, or making a large income) are allowed to buy shares of those startups. Startups are risky but extremely profitable investments. An investor can mitigate that risk by doing due diligence, but the average american wage slave is never given the opportunity to do so. Blockchain ICOs allowed people to get around this in 2017, and as a result many millionaires were made. The american government clamped down on this by suing people offering icos as unregistered securities, but a savvy investor can still get exposure to icos even to this day by rebuying the coins on secondary markets, or by lying about their country of origin. The second is unethical, but even with the first option, you have a good opportunity to 10x your money if you play your cards right and invest wisely. In addition to all of the above, there is DEFI. DEFI (short for decentralized finance) is a series of smart contracts and financial tools that are run on the blockchain only. They don't report to the government, they don't report to banks, and they don't keep records on your activity. In short, DEFI is the strongest tool in the libertarians financial toolset for deconstructing the government. Defi is mostly run on the ethereum blockchain (part of why ethereum is an insanely good crypto) DEFI Links: https://oasis.app/ https://uniswap.exchange/swap https://medium.com/kyberswap/getting-started-on-ethereum-with-kyberswap-60b3951bd74 Even if you an 80 year old who hates technology and cannot get a handle on defi (I admit it is complex and a hassle) simply buying bitcoin and holding it for your children is a very good way to withdraw your trust from the inflationary measures of the federal reserve. By buying bitcoin, you are anchoring your value to a cryptocurrency that will never have more than 21 million units, is infinitely divisible, and is so secure that the cia hasn't been able to reverse a single transaction, despite having attempted to do so for years. Bitcoin is the perfect medium for defunding the united states government. The same can be said for ethereum, but it has more complex economics involved. (both will perform well when we get inflation though) EDIT: By destroying the underlying structures of the Federal government's power, you degrade their power. Take away kyc/aml, suspicious activity reports, and income reporting, and their ability to fight their drug war, meddle with free trade, ban transactions, and censor transactions to foreign countries is curtailed.
How is bitcoin infinitely divisible? [duplicate] Ask Question Asked 6 years, 5 months ago. Active 6 years, 5 months ago. Viewed 14k times 5. 3. This question already has answers here: Why can we have small fractions of a Bitcoin? (2 answers) Closed 6 years ago. I I created Bitcoin to recover the link to age old tried and tested laws and rules. Bitcoin removes the ability to have an infinitely divisible and distributable digital system and returns it to a state of bailable property. That is, Bitcoin is the first digital asset that can be possessed. According to popular bitcoin commentator Andreas Antonopoulos, if all person-to-person cash transactions were to be replaced with bitcoin, then the value of a single Satoshi unit would be about one dollar each. If this were to happen, it is entirely possible that the bitcoin code could be modified to allow for even more divisibility. It isn’t infinitely divisible. One bitcoin = one hundred million satoshis. One hundred million is a finite number. It’s large but finite... these are just fractions of a whole bitcoin. It will always take 100,000,000 satoshis to have a bitcoin. The number 84,000,000 was originally selected because Bitcoin was limited to 21,000,000 and Litecoin was intended to be four times as fast as Bitcoin. However, like Bitcoin, Litecoin is also infinitely divisible. That means that it can theoretically be divided into as many smaller fractions as are necessary.
What is INFINITE DIVISIBILITY? What does INFINITE DIVISIBILITY mean? INFINITE DIVISIBILITY meaning
Bitcoin has virtually all the major features of physical gold, as "the measure of value" ... - Easy divisible - Verifiable - Easy to store ... Infinite Wisdom Recommended for you. 10:48. If there's ever a need, the level of division can be changed into 16 or more decimal places, meaning that Bitcoin offers an infinite degree of divisibility. Portability. Please note, each bitcoin is divisible, so the capped figure is not going to be a hindrance for growth purposes. This is something that has been thought of. Bitcoin Revolution Trustpilot: https ... Bitcoin’s mathematical design is open and transparent. Anyone in ... Skip navigation Sign in. Search. Loading... Close. This video is unavailable. Watch Queue Queue. Watch Queue Queue. With its infinite supply, it misses the key characteristics of sound money, scarcity and cost of production. Bitcoin has all the characteristics of sound money; however, in one key area, it far ...