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SilasBarta comments on General Bitcoin discussion thread (June 2011) - Less Wrong Discussion

4 Post author: SilasBarta 10 June 2011 11:21PM

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Comment author: SilasBarta 13 June 2011 03:07:54AM *  0 points [-]

Fair enough. The promoters of Bitcoin should not tout the "free transactions!" since this will only apply for the next twenty years or so and transactions thereafter will impose a fee orders of magnitude lower than most services if you want them confirmed quicker.

Comment author: jhuffman 06 January 2012 09:57:32PM 0 points [-]

I do not think the transactions are free even now, it is just that they are spread out across the entire money supply rather than charged only to the participants in the transaction. The cost of the block are the 50 coins added to the money supply, which slightly decreases the value of every other coin.

Comment author: SilasBarta 07 January 2012 12:06:17AM 0 points [-]

In most contexts, that would be close enough to count as "free transactions".