From mboxrd@z Thu Jan 1 00:00:00 1970 Received: from sog-mx-3.v43.ch3.sourceforge.com ([172.29.43.193] helo=mx.sourceforge.net) by sfs-ml-4.v29.ch3.sourceforge.com with esmtp (Exim 4.76) (envelope-from ) id 1WLbhm-0006TT-Bm for bitcoin-development@lists.sourceforge.net; Thu, 06 Mar 2014 17:03:34 +0000 Received-SPF: pass (sog-mx-3.v43.ch3.sourceforge.com: domain of gmail.com designates 209.85.128.180 as permitted sender) client-ip=209.85.128.180; envelope-from=mh.in.england@gmail.com; helo=mail-ve0-f180.google.com; Received: from mail-ve0-f180.google.com ([209.85.128.180]) by sog-mx-3.v43.ch3.sourceforge.com with esmtps (TLSv1:RC4-SHA:128) (Exim 4.76) id 1WLbhl-0004UT-F5 for bitcoin-development@lists.sourceforge.net; Thu, 06 Mar 2014 17:03:34 +0000 Received: by mail-ve0-f180.google.com with SMTP id jz11so2868177veb.39 for ; Thu, 06 Mar 2014 09:03:28 -0800 (PST) MIME-Version: 1.0 X-Received: by 10.58.201.5 with SMTP id jw5mr6032267vec.6.1394125407933; Thu, 06 Mar 2014 09:03:27 -0800 (PST) Sender: mh.in.england@gmail.com Received: by 10.52.24.38 with HTTP; Thu, 6 Mar 2014 09:03:27 -0800 (PST) In-Reply-To: References: Date: Thu, 6 Mar 2014 18:03:27 +0100 X-Google-Sender-Auth: wKQ6aIxNUPoMrrN_Lo7PH9fChd0 Message-ID: From: Mike Hearn To: Alex Kotenko Content-Type: multipart/alternative; boundary=047d7bd6aea2b65b3404f3f31d7e X-Spam-Score: -0.5 (/) X-Spam-Report: Spam Filtering performed by mx.sourceforge.net. See http://spamassassin.org/tag/ for more details. -1.5 SPF_CHECK_PASS SPF reports sender host as permitted sender for sender-domain 0.0 FREEMAIL_FROM Sender email is commonly abused enduser mail provider (mh.in.england[at]gmail.com) -0.0 SPF_PASS SPF: sender matches SPF record 1.0 HTML_MESSAGE BODY: HTML included in message 0.1 DKIM_SIGNED Message has a DKIM or DK signature, not necessarily valid -0.1 DKIM_VALID Message has at least one valid DKIM or DK signature X-Headers-End: 1WLbhl-0004UT-F5 Cc: Bitcoin Dev Subject: Re: [Bitcoin-development] Instant / contactless payments X-BeenThere: bitcoin-development@lists.sourceforge.net X-Mailman-Version: 2.1.9 Precedence: list List-Id: List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Thu, 06 Mar 2014 17:03:34 -0000 --047d7bd6aea2b65b3404f3f31d7e Content-Type: text/plain; charset=UTF-8 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 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 > 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
Thanks Alex!

About the video - I'm = curious how your device is better than just a regular tablet. Could you giv= e 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 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 <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 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 "backed by" = (really: represented by) a basket of goods. Otherwise over time your rent w= ould go up in real terms, for good real reason.
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