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Well if a company wants to give a large sum of money to an open source project for a feature, say a hundred dollars, or a thousand then it is the same. Electron

Well if a company wants to give a large sum of money to an open source project for a feature, say a hundred dollars, or a thousand then it is the same. Electronic cash, i.e. bitcoin work better than the traditional ways of payment when there is a necessity for crowdfunding a little bit of money less than a penny, a 1/10 of a penny or 1/100, or 1/1000, from thousands of users. The reason bitcoin works better in that case, is because bitcoin is absolutely automated while in traditional payment systems a human is required to oversee the payments in case there is a fraud somewhere. That means a human is required to be paid, and humans are expensive to employ. That increases the cost of every transaction, as well as increases the minimal amount of the transferable value.

sova 6y ago
>That increases the cost of every transaction, as well as increases the minimal amount of the transferable value. You seem to be blissfully unaware of transaction fees in bitcoinland
- phoinix 6y ago
  The electronic money that are known now as bitcoin, took a different turn from the white paper of Satoshi. That's why i said the electronic cash Bitcoin, not the currency Bitcoin. Some people wanted to take that electronic cash idea, and turn it into currency. That's a bad idea.
  - sova 6y ago
    So... you're talking about something that doesn't exist
    - phoinix 6y ago
      Well when bitcoin first started, i didn't have any transaction fees. Afterwards the protocol changed, forks did happen, and confusion ensued. However some programs start to emerge, about incentivizing social media users to post good content[1]. And of course open source developers should be incentivized by their users to fix the bugs, implement popular features that theirs users want etc. So some things start to happen, well mainstream adoption is a little bit far, but it will happen eventually. https://cointelegraph.com/news/social-media-platforms-for-crypto-enthusiasts-talk-and-earn-bitcoin https://cointelegraph.com/news/social-media-platforms-for-cr...
      - sova 6y ago
        The most promising project on that list is no longer available: https://honest.cash/ https://honest.cash/
35fbe7d3d5b9 6y ago
"I have a hammer, who needs something nailed?"

sova 6y ago

>That increases the cost of every transaction, as well as increases the minimal amount of the transferable value. You seem to be blissfully unaware of transaction fees in bitcoinland

phoinix 6y ago
The electronic money that are known now as bitcoin, took a different turn from the white paper of Satoshi. That's why i said the electronic cash Bitcoin, not the currency Bitcoin. Some people wanted to take that electronic cash idea, and turn it into currency. That's a bad idea.
- sova 6y ago
  So... you're talking about something that doesn't exist
  - phoinix 6y ago
    Well when bitcoin first started, i didn't have any transaction fees. Afterwards the protocol changed, forks did happen, and confusion ensued. However some programs start to emerge, about incentivizing social media users to post good content[1]. And of course open source developers should be incentivized by their users to fix the bugs, implement popular features that theirs users want etc. So some things start to happen, well mainstream adoption is a little bit far, but it will happen eventually. https://cointelegraph.com/news/social-media-platforms-for-crypto-enthusiasts-talk-and-earn-bitcoin https://cointelegraph.com/news/social-media-platforms-for-cr...
    - sova 6y ago
      The most promising project on that list is no longer available: https://honest.cash/ https://honest.cash/

35fbe7d3d5b9 6y ago

"I have a hammer, who needs something nailed?"