Re: My Bitcoin Friends
« Reply #15 on: January 04, 2018, 09:23:53 PM »
but if u cant spend it why would you want it :/
read teh comments they seem to know more.
Interesting stuff there. The transaction speed thing is a real issue I wasn't aware of. I assume the speed bottleneck is correlated to the actual encryption methods. Is a 'faster' CC a less secure CC? Does CC verification slow down the as a function of the amount of a given CC that has been mined?
It can be useful to think of cryptogrophy like calculating prime numbers. The first few you can do in your head ... 2,3,5,7,11,13... the first 1000 can be calculated in seconds by brute force, but once you have found the first 19K the 20th 1000 primes take a LOT longer to find: The time required plots a J-curve.
I don't really know anything about CC algorythms, I'm just making assumptions based on general math/computing knowledge, but I would assume that as bitcoin has been around the longest there would be more of it in existance than any other CC. How much of a factor this is in transaction times and how much is intrinsic to the algorythms IDK either. A certian amount of it will be related to existing infastructure, but that can always be upgraded.
Hmm... interesting brain food for for nerds
But the real thing here they saved until last --> Amazon creating it's own currency. This is a HUGE concept.
past that point anything that can't actually be exchanged for something real (not just other cryptocurrancy) will become instantly worthless.
Were Amazon to do this they would own the bat AND the ball, so therefore the game. This would certianly raise a few eyebrows amoungst the powers-that-be. I doubt they would be game to be so bold just yet, first they would want to further solidify their central place as a purveyor of the tangible, and allow other CC's to stablize as genuine forms of currency, before draining their value into 'ZonCoin'.
Another thought is that as the owners of the actual value of their own currency (the equivalent of the gold in the vault) it would not necessarily have to be self-supporting, i.e. it needn't necessarily be a true cryptocurrency at all, just a ledger. This would have been unthinkable 20 years ago, but now that the collective consiousness has been acclimatized to the notion of 'coins' they play with on their phones, the fact that it isn't a real CC would probably be lost as so much more nerd-babble.
but ya aint gotta be rich to be rich u know...we can all have our own limo easy.
- my limo is a Toyota