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authorMike Hearn <mike@plan99.net>2014-03-06 18:03:27 +0100
committerbitcoindev <bitcoindev@gnusha.org>2014-03-06 17:03:34 +0000
commitf5e99e98e82d1a00e5325bcc2e6c7bddc572ea95 (patch)
tree4a641ebb0865dad8a7de552b3047f8c2437e85af
parent31e3a288e690466442606a796320fc8c24874813 (diff)
downloadpi-bitcoindev-f5e99e98e82d1a00e5325bcc2e6c7bddc572ea95.tar.gz
pi-bitcoindev-f5e99e98e82d1a00e5325bcc2e6c7bddc572ea95.zip
Re: [Bitcoin-development] Instant / contactless payments
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+From: Mike Hearn <mike@plan99.net>
+To: Alex Kotenko <alexykot@gmail.com>
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+Cc: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>
+Subject: Re: [Bitcoin-development] Instant / contactless payments
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+--047d7bd6aea2b65b3404f3f31d7e
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+
+Thanks Alex!
+
+About the video - I'm curious how your device is better than just a regular
+tablet. Could you give us the elevator pitch? :)
+
+On Thu, Mar 6, 2014 at 3:39 PM, Alex Kotenko <alexykot@gmail.com> wrote:
+
+> I mean - if with Bitcoin v0.9 transaction fees will become really
+> floating, and it should eventually reach equilibrium that will reflect some
+> real world value. Probably a tiny value, but probably also rather stable
+> value. So confirmationless payment cap may be defined as
+> <current_average_transaction_fee>x10000.
+>
+
+I guess fees will wander up and down depending on system load rather than
+real world value - but maybe you're right. That said, all wallets sync
+exchange rates automatically already.
+
+In some Star Trek future, perhaps we would want Bitcoin to be independent
+of other value units. But I'm not convinced such a world will ever exist.
+Arguably, a stable currency would slowly become worth more over time in
+line with economic growth. But then for stable prices you would need
+something like a fake currency that was "backed by" (really: represented
+by) a basket of goods. Otherwise over time your rent would go up in real
+terms, for good real reason.
+
+--047d7bd6aea2b65b3404f3f31d7e
+Content-Type: text/html; charset=UTF-8
+Content-Transfer-Encoding: quoted-printable
+
+<div dir=3D"ltr">Thanks Alex!<div><br></div><div>About the video - I&#39;m =
+curious how your device is better than just a regular tablet. Could you giv=
+e us the elevator pitch? :)</div><div class=3D"gmail_extra"><br><div class=
+=3D"gmail_quote">
+On Thu, Mar 6, 2014 at 3:39 PM, Alex Kotenko <span dir=3D"ltr">&lt;<a href=
+=3D"mailto:alexykot@gmail.com" target=3D"_blank">alexykot@gmail.com</a>&gt;=
+</span> wrote:<br><blockquote class=3D"gmail_quote" style=3D"margin:0 0 0 .=
+8ex;border-left:1px #ccc solid;padding-left:1ex">
+<div dir=3D"ltr"><div style=3D"font-family:&#39;courier new&#39;,monospace;=
+color:rgb(0,51,0)">I mean - if with Bitcoin v0.9 transaction fees will beco=
+me really floating, and it should eventually reach equilibrium that will re=
+flect some real world value. Probably a tiny value, but probably=C2=A0also=
+=C2=A0rather stable value. So confirmationless payment cap may be defined a=
+s &lt;current_average_transaction_fee&gt;x10000.</div>
+</div></blockquote><div><br></div><div>I guess fees will wander up and down=
+ depending on system load rather than real world value - but maybe you&#39;=
+re right. That said, all wallets sync exchange rates automatically already.=
+</div>
+<div><br></div><div>In some Star Trek future, perhaps we would want Bitcoin=
+ to be independent of other value units. But I&#39;m not convinced such a w=
+orld will ever exist. Arguably, a stable currency would slowly become worth=
+ more over time in line with economic growth. But then for stable prices yo=
+u would need something like a fake currency that was &quot;backed by&quot; =
+(really: represented by) a basket of goods. Otherwise over time your rent w=
+ould go up in real terms, for good real reason.</div>
+</div></div></div>
+
+--047d7bd6aea2b65b3404f3f31d7e--
+
+