365 karma · joined June 9, 2011
My Bitrated profile: https://www.bitrated.com/simondlr/
Miners will still choose whether to include them or not (being a good citizen and adding a tx fee is still recommended), but now other nodes will relay them so they can find their way to a miner. Other Bitcoin developers can correct me if I'm wrong.
Jack-of-all-trades. Studied computer science, business finance, marketing, systems science, organisation theory and socio-informatics.
Created http://tweekly.fm, http://twimemachine.com (for sale), and http://min.io (back-end developer). Personal site: http://simondlr.com
Currently #funemployed, reading, making music, and building a prototype for a Bitcoin micropayment channel powered service that enables autonomy of programs. Massive fan of Bitcoin contracts. So excited to see what they are going to allow in the next 1-5 years.
Looking at opportunities to continue doing this, or working on anything Bitcoin.
It's not that farfetched to imagine a future where plenty of programmers sit 'jacked' in, into an Oculus Rift to code.
That's how I feel about Bitcoin. Circulation might not be a lot, and signs probably show that is not a lot, but it is disruptive. You also have to consider that perceived value is always reckoned into the 'actual' price. It depends on what market theories you ascribe to, but it is generally accepted that current prices reflect the market's capability to guess (and judge) futuer value. So, perceived value is often difficult to 'divorce' from the actual value, especially in the case with something like Bitcoin, where it is seen as both an asset and currency.
Another thing is the continuing trend of providing off-chain transactions (through companies such as Coinbase en Inputs.io).
Even with liquidity being lower you can see them being rather close on the different exchanges.
Started studying a Bachelor of Commerce in Computer Science (lots of maths, financial stats, etc). Then I switched to a Bachelor of Commerce in Socio-Informatics and Marketing (less technical programming, more applied work). However, socio-informatics is actually an Arts degree (it includes courses such as management theory and systems design).
So during my time at university I did science (maths, computer science, stats, programming), finance/business (accounting, financial planning, marketing, entrepreneurship) and arts (philosophy of systems, sensemaking, organization theory).
Loved it!
I then write that down as 'done' lists. Or basically, a 'what I did today' list, even if it is small stuff. You end up feeling more productive, because you often don't realise what you actually DID do in a day.
I'm just wondering in terms of psychology, what impact it has to write in ever decreasing denominations? Pricing something as 0.000232 BTC is much more difficult to read and understand. So, if there are more coins in circulation, this would hopefully not happen until much later. It will inevitable happen (if it is also a success). But just for adoption and ease of use in the short and medium term it will be easier to read.
A lot of the stuff I built in my spare time as I was learning to code failed. Afterwards I questioned why and took that knowledge with me. Probably not as much as working with real business problems, but it is not for nought.
All these make it seem like a better alternative for micro-transactions in the end.