23 karma · joined May 1, 2012
Bcoin is nothing but a bunch of runaway tulip bulbs. Have fun if you want to buy on the way up and... sell in time, woe to you if don't.
For all the doubters here, notice the enormous number of comments generated already. Even though we are (rightly) scared about some of the aspects of glass and ubiquitous AR, we sure are collectively fascinated by the idea.
You know you're an engineer when: You'll assume a horse is spherical in order to make a math easier.
Funnier with horses. Horses are less spherical. They way they industrially force feed and force breed cows these days, spherical is actually not that ironic an approximation to make. More sad than funny.
The only unique theoretical option would be to hack a very highpowered antenna and transmitter to try and pick up blast out RFID-compatible signals to/from the very weak NFC radios of handsets from further away.
Another way of thinking about credit cards is a way that a large groups of customers are able to band together to collectively demand discounts, rewards and other valuable protections from merchants in exchange for their business.
The banks compete amongst themselves to win your business as a cardholder by trying to negotiate higher discounts from merchants. (the fees paid by merchants are called MDR or merchant discount rate).
One of the world's large credit card networks processes on the order half a trillion dollars in a typical 30 day period. So bitcoin has a way to go yet before it's volume is significant compared to other ubiquitous electronic payment methods.
Consider that they need to grow by a great many orders of magnitude to become globally economically significant, yet consider that the supply of bitcoins is relatively fixed.
How smoothly do you think that is going to work?
If you believe in the future bitcoins, you also have to believe that their value will have to eventually sky rocket by several orders of magnitude. If you believe this you should hoard every bitcoin.
So if you actually believe in bitcoins, why would you ever spend one?
If you don't believe in bitcoins, why would you ever accept one?
do you see the problem yet?