Popistic,

I welcome your reply, yes, I am old.

I just shared what I see and what I understand.

I will highly appreciate you guide me and let me know more about crypto..
It would be very useful to me if you comment on every point I mentioned and clarify more to me.

I am not by any means against crypto or bitcoin, on the contrary I fully support the idea. I personally have a wallet already with some coins in it.

By the way, cause I am a bit old, so I don’t know what “fastardian” mean..

Hope to hear from you.

Thanks

But as a believer in freedom, the basics of crypto does not go with how exchanges work. It is centralised, profit oriented, they control your money.

I am ok with wallets.

Maybe, it is time for the bitcoin community to create their own exchange based on the principles of freedom and principles of bitcoin.

Any ideas or comments?

Thanks bitcub, I was just feeling lost with all this talk and bla bla about Segwit, Segwit2x, blocksize, off blockchain... etc...

I have a feeling (bad though) the discussions in the community has some roots to purely personal interest.
Not just discussion to improve an open source project an free currency.

I may be wrong or missing something, that’s why I made my thread https://bitcointalk.org/index.php?topic=2234959.msg22531790#msg22531790 hoping crypto will get better.

Thanks lucifochrome,

First of all I have to be clear and honest. I am not the most experienced person in the world, not the most knowledgable. I just know the ABCs.

Answering your post:
1- As long as cryptos and wallets, and blockchain are open source, not even all the governments of the world can stop it.
2- the fluctuation at this stage is so natural because it is too early, still very few adopters. Maybe if you try find some historic data about Bitcoin price volatility, you will find the volatility at previous years were much higher and that volatility is being less as time passes. This is mainly because - as we all know the theoretical ABCs of the so called perfect competition and market equilibrium, it assumes there are a lot of buyers, a lot of sellers, each controlling a very negligible amount of demand and supply so that he can’t dictate a price. Comparing this to a monopolist, he can “dictate” the price.
So, as more and more buyers and sellers come in, the power of everyone to dictate the price gets reduced, so volatility is reduced.
3- the panic sell, or the hurd crazily buying, this is normal to human nature. It happens in the stock markets. Warren buffet made his fortune understanding this fact.
4-  Currently I see crypto has just started to be a fact of life. It really exists as an asset, there is a “market”, there is value and price. It is now like hotmail at the beginning of the internet, not everybody had an account, an email was not at that time a document that proves anything as compared to signed paper sealed received and kept in a safe place in a file. Later it became a proof, contracts can be done by emails.
Crypto is still the hotmail of mid 90s.

Unfortunately it is still like a bullion or an ingot, not as a currency 100%.

It is just a matter of time, still there are some aspects that should be addressed as I mentioned in my previous post.

The goal is to have Bitcoin and crypto as a currency, where everybody has access to, easily cheaply transfer and transact,... etc.

The current situation and problems in my opinion:
1- it is still require users or adopters to be above average in IT, know what a qr code is, private and public address, the 12 word Fraser for a wallet... etc. This will be sorted out as time passes, but developers should try make things easier and simpler.
2- transaction cost, sending a crypto from someone to another, it is relatively high, so not still convenient to buy a bottle of water or a pizza and it costs the same amount to pay the seller. This simply means the buyer would pay double the price. So, still not convenient as a currency compared to FIAT.

I wonder if this can be sorted out as follows:
All wallets should have a feature like “Ok, this public address is sending to this public address 0.05 USD, let me send with it a private key for this transaction for this amount in particular. Sending through whatever communication, Bluetooth, WiFi, nfc, Sms, whatever. No need for blockchain and mining fees.

Maybe (and here I expect some miners to try to shoot me), maybe we can use wallets already running on thousands of individual mobile phones to do the job of verification. Everybody in the individual users wins. Almost instant, no transaction cost, so it will be convenient to buy a bottle of water with bitcoins.

The receivers wallet may take the senders public address and check it on the blockchain, if it really exists, if it really has the amount transferred. If true, it makes one entry with one single confirmation.

3- till now, Bitcoins and other cryptos appears to me not as currency but as a bullion of gold, a bullion of silver, a bullion of platinum, an ingot of aluminium. It costs money to buy and keep, and it costs money to spend.

4- There should be a way that different blockchains and crypto can “talk” together seamlessly, as in point 2 above, someone having bitcoin in his wallet should be able to send to the receiver directly another crypto, no need for any of them to convert from one crypto to the other. Direct wallet to wallet.

Transfer costs should be minimised to be almost zero, transaction speed should be instant. These two are considered a must to have crypto as currency, not as a bullion.

Hopefully I did not offend anybody, especially miners. Miners should think, what profit would be if the world is actually transacting in crypto.

I know many will see the above as nonsense, a few might see an idea, some might agree some might not.

But constructive discussion will always give the fruits.

Hi,

I just have a feeling that I should contribute to the development of Bitcoins and crypto in general because though I am still new (5-6 weeks old) to crypto, but I tried to understand as much as possible.

Before giving my contribution, allow me to give you a brief about myself to be sure you understand what I am talking about.

- I am a bit old, 56 y/o
- I am an Economist, I pretend I understand economics relatively well.
- I have worked some time into programming, software, ... so I have a litttle knowledge in this field. I used and “lived with” Linux and open source since 2000. So I know a little about open source and p2p... etc.
- I have lived in different countries all over the world, not just visited.
- In my career I have dealt closely with lots of people of different categories, poor farmers, rich farmers, businessmen, startups, small, giants, winners, losers, bankers, investors, governmental, drivers, blue collars, white collars,... yo name it.
Edit: (this added after my first reply)
- I have been in the stock market since 2003, and I survived 2008 and after, I even bought a lot during 2009.

So, as a believer in “free” cryptos in general, I feel obliged to contribute my thoughts, opinions, hopefully useful suggestions, to the community.

I know what I will contribute, might be welcome by some, not welcome by some, but this is the nature of such open project(s).

Next post will start my first contributions.
I hope we can discuss, agree, disagree, suggest, ask, answer... hopefully we all benefit.

I am a bit new to cryptos, almost 5 weeks old!

My question is:

There is an upcoming fork in November 2017, I understand not all wallets planning to support it or yet undecided. My wallets are Jaxx and Bread having a few Satoshi in each.

Would I still be receiving my share of the forked currency if Jaxx didn’t support the new fork?
Will I still receive it if I sent my BTC from a wallet that does not support to a wallet that support the fork AFTER the fork happens?

How can I be sure I will collect my share of the forked currency.

Your advice highly appreciated.

Thanks a lot for helping me understand more.

Thanks for the warm welcome

I am completely new and not that techie, so will appreciate your guidance.

In November, which coin wil split or fork, is it bitcoin, or Bitcoin Cash?
Will it be another SegWit, or an increase in the block size?

There will be a new currency I understand. It wil be like the previous split and holders of bitcoin BTC wil receive an equal amount of the new currency? Or the holders of Bitcoin Cash will receive the new currency?

Sorry if I am asking “silly” questions, I am just a few days old with crypto.

Watching all this mess in China and closing Chinese exchanges by end of September, and knowing that a huge percentage of all mining power is in China, some questions need answers, facts and figures to be able to figure out what will happen.
. What normally miners do with their mined bitcoins? They used to pay salaries in CNY, electricity... etc. How would the carry on after 30 September.
. Do they have accounts in foreign exchanges to sell their bitcoins?
. If not, how would they keep running their business?
. If they stopped mining, what would this mean to bitcoin? Would the remaining miners be enough to keep the transactions going?
. With this decline, won't the miners be selling more bitcoins to cover their costs?

Having answers and FACTS about the above would help us understand more and figure out what might happen.

Awaiting your contributions.

I hope to receive an answer.
So, I do the transfer through mobile app or web while I am at home, then I mark paid.
Still, the money will take a few days to reach the seller. He only releases the bitcoins after he actually sees the money in his account after a few days, after the transaction window expires. Is this possible?

Sorry, but still hope someone can answer my question:
"So I assume I can make the swift transfer through internet banking (browser or app on mobile) even during weekend and I mark it paid regardless of when the bank would actually do the swift."

Honestly, I have already posted there, but it is not a "real" forum... it is a trading place more than a forum, and people asking about very specific issues, I prefer here.
Plus I hope you will accept me as a new friend and member for further discussion.

This forum looks much more interesting for me.

Thanks, this really clarify the issue.

 You know some banks would do it manually or only during working days or hours, some may require to call me to validate the transaction.

So I assume I can make the swift transfer through internet banking (browser or app on mobile) even during weekend and I mark it paid regardless of when the bank would actually do the swift.

Thanks
The reason I am asking about localbitcoins is it is more convenient for me. All exchanges require registration, ID validation.. a lot of hassles...

Hi,
I am new to this forum and to cryptocurrencies, just registered the a few days ago.

My question is:
If I trade on localbitcoins through international SWIFT, which takes time, might require going to the bank, how can the trade be finalised if I start the trade before or during a holiday, how can the buyer press the I have paid button, or the release coins button? The window normally lasts for 90 minutes only, not for several days.

So, how to do the trade?

Any help or guidance will be highly appreciated.

Thanks