-snip-
I'm just going to touch on the points I bolded if you have no issues with that. I don't believe that Bitcoin in its current state is anything close to predictable or stable when it comes to measuring up as a currency, but it is definitely secure when it comes to international trade. I don't know if it is really able to be anything close to a global reserve currency yet, however in the future it might be something to take note on. It would be interesting to see the $30T evaporate from economic activity due to Bitcoin becoming the most prominent medium, however. I think that you bring up an interesting point about alts but you do miss the point that even though they are more centralized, they do pose an interesting medium (especially Ethereum) for performing different business-related transactions. They're not something to scoff at but they're not irrelevant either. They are more tantalizing to investors, but that can mean a lot. I'm curious as to how you think alts are "centralized" by default? Especially compared to Bitcoin, where miners have obviously become more centralized than ever. We are currently seeing miners right now have a war of blocksize ideology as I type. I do agree though that alts do bring more to the table and allows people more freedom to try stuff theirselves, rather than just wait for the all might bitcoin core team to fork or do something that helps fix any problem whatsoever. |
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And because it's stable and predictable, it acts as an *international settlement system*,
Bitcoin is neither stable, nor predictable, if it's less volatile than altcoins, it doesn't mean that it's price isn't the problem for people who want to use it as a currency. Of course Bitcoin is very likely to grow in long term, but short term value is very important for a currency, you don't want to receive something that is likely to lose 5-10% of its value at any moment.
But the transaction fees are killing me!
- Many cryptocurrency users recognize the financial and human costs of ledger transparency and mutability in the existing financial system, but didn't realize that the cost of immutability in a cryptocurrency could be the same or higher. Consider that correspondent banking is complex and costly, but those costs are absorbed by everyone who participates in the financial system (mostly taxpayers). At the moment Bitcoin users subsidize the current financial system through their taxes while also incurring the costs of their Bitcoin transactions, so the pain is naturally doubled. Users in different countries will also experience different transaction cost pain points, and some people will leave in search of something else to buy their coffee with. Sorry, there's no such thing as a free lunch, and billionaires that have been paying thousands to keep their transactions private in the existing banking system have no problem outbidding you on your next transfer, and in fact will likely have more trust in Bitcoin as the cost of using it increases. User behavior will update accordingly, and people will really "become their own bank".
Immutability is worth the price only when you really need it, otherwise you are just burning your money (and a lot of money) when you "buy your coffee" with Bitcoin. Right now transaction fees are so high that Bitcoin can't be considered a currency, but instead it should be called an asset, "digital gold", "immutable storage of value", etc. Totally agree, but you are forgetting one more really really important thing that Bitcoin lacks to make it a true currency; and that is the mere fact that peoples addresses can be targeted and Bitcoins can be "tainted". This will always make it extremely tough to prevent exchanges to censor one person's Bitcoin over another person's Bitcoin, and a true currency doesn't do that. I know there are things such as mixers and the ability to use multiple addresses, but all in all it doesn't matter. If you give me your bank deposit number and I have the ability to see where, when, and to whom you've sent money too; you wouldn't be too happy with that "private store of wealth". |
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So I usually made my bets for golf tournaments on directbet before they stopped. Is there any gambling websites like directbet left, in terms of gambling on golf tournaments?
I saw on nitrogensports.eu that they have bets available but it's per group, not for the whole tournament...
i think nitrogensports.eu is a good site and there is many gamblers that place their bets to that site. personally, i don't place a bets for golf tournaments because i don't know nothing about golf and if i push myself to place a bets, i don't what will happen and maybe i only getting loss. i think its very interesting if we place a bets for the sports that we are familiar and we have some knowledge with that sports so our chance to win is big and wide open. i think there are any other betting site like nitrogensports.eu but unfortunately, i don't know what it is. Yeah I agree, there are plenty of sports books that offer all and every sport there is. They even create WWE match ups and odds, which is stupid by the way since they are all rigged. Back to gold though, I think there are sports books that offer this, try out the big names like 5dimes, williamhill, bet365, etc. Usually those big names also accept bitcoins nowadays. Yeah, I ended up figuring out how to put a bet in to bet on someone for the entire tournament (you get way better odds that way)... but yeah, it just sucks that you can't bet on live tournaments though, like on directbet. Ehh, oh well... still all in good fun.  |
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IMO, the best practice during times like these is patience. If you already have a hefty amount of money in Bitcoin, then ride out the storm and see where the price levels out. I would wait until the market decides on a price without insane fluctuation and stays that way for at least a week.
When the markets are going crazy like it has been, that leaves people vulnerable to getting into emotional trading... which is really dangerous, and will probably end up with you making a decision you regret latter on.
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So I usually made my bets for golf tournaments on directbet before they stopped. Is there any gambling websites like directbet left, in terms of gambling on golf tournaments?
I saw on nitrogensports.eu that they have bets available but it's per group, not for the whole tournament...
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it's not necessary and crime has and will be funded with every currency in the world, USD and EUR aren't exceptions and the anonymity of BTC is a myth since everything is in the blockchain and public, unlike Bank transactions that are more anonymous (since only a judge order can give you access to these).
That is one of the important features why Terrorists and other illegal groups use BTC and some other crypto currencies to their advantage and hide their transactions from the legal authorities. I have heard some of the black money holders in my country use BTC to hide their money.Well that honestly isn't very smart. If they post their wallet address in order to receive donations, or if it gets known to authorities in your country in some kind of way, then they literally can see how much Bitcoin that wallet has. Plus authorities will also be able to view where those Bitcoins came from and where they will go to from that wallet and so on through blockchain analysis. |
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Hey, just curious... I saw that Jeremycoin got payment on June 10th and I have had my payment request submitted on June 9th. Does anyone know of any other payments that might have got stuck in the process as well?
If so, it's not a huge deal... just wanted to get some clarification as to if it was a problem with some accounts on here overall or if it was just my profile.
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for a better security? Hah, you wish.
Depends what altcoin you're talking about. This is about altcoins becoming bigger, and when some of them basically copy Bitcoin's security systems anyway, they can be pretty secure. No. Stop posting bullshit for signature money. You can use the same algorithm as Bitcoin, but you would not have the same security. No altcoin even comes close to the security of Bitcoin. for a more peer reviewed and bug free code? absolutely not!
Obviously Bitcoin is the most "matured" cryptocurrency so to speak - but this doesn't mean the code has to be bad. The code will get better as more ex-Bitcoin users start to get involved (which they already are). Bullshit again. The users have zero relevance to the quality of the code. Bitcoin is not just automatically great all the time.
Actually it is. Stop promoting the scam coins because you are greedy. Dude, you are literally promoting a scam coin in your signature... And to address your overall point of your (and most of everyone's) argument, is that yes Bitcoin has more security in terms of just brute hash power... but there are other cryptographic algorithms out there that have the capability of becoming more secure based on it's code alone. I will give Bitcoin the benefit of doubt to have the overall best security due to how difficult each block is getting and overall hash power; but I can see a future where Bitcoin's code will eventually be outdated. Example A: Cryptonote Example B: Zk-Snarks I'm not promoting any coin that uses those algorithms, but I just find them fascinating and am always willing to use better code for secure store of wealth. ... And I really don't think Bitcoin Core will feel the same way because they seem to be always scared of a fork. |
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My 884 bitcoins are in limbo and I'm scared
You effing idiot. What are you doing putting so much BTC into a wallet you don't have full control over. Well he could of just mined ETH for the last 1.5 year to that address and just sold for BTC. That doesn't matter... As long as he continued mining Eth to a poloniex wallet, having 884 BTC accumulate on poloniex without taking some out is the stupidest thing I've read in a while... for multiple reasons: 1) He doesn't have control of the keys: All you have is a password protected "account" there and are at the will of poloniex. 2) Even with going through all of the verification processes on poloniex, the max you are able to withdraw per day is $10K in Bitcoin... Obviously you can see where the problems come into play when you have ~900 tokens that represent $2.5K+ per token. Without verifications, it's $2K per day which is even more problematic 3) It's stupid to keep that much wealth in one wallet regardless... multiple cold wallets, hot wallets, etc. should be considered. And for god sakes, no web wallets. |
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Curious... If ledger were to be able to get working code for xmr ready to go and be Ring CT compatible, will it be compatible with Trezor? Or will it be closed sourced so only Ledger will technically be the only ones who will profit for a while. I think I remember reading something were Trezor was potentially going to add xmr for their "trezor 2.0", and wouldn't be compatible with the first edition... or am I just making this up in my head completely? lol. |
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no id will be your stumbling block, even localbitcoins wants it most of them time.
take a look at bitsquare.io. that's p2p and decentralised. i don't know if there are premiums on there.
forget cards for whatever you're planning.
I've done quite a few btc->fiat transactions on there and I can tell you that the system bitsquare has is legit. The only "premiums" that come from using that exchange platform is from other peers setting it that high. What drives down the costs are purely from competition and how badly you want to sell/buy. I've also done a few transactions on localbitcoins as well, and the same goes for ID's... it's basically the person selling the bitcoins gets to decide how much info he wants from you to determine if you are trust worthy to sell too, as well as other things to consider, like taking pictures of receipts if you are depositing cash with a cash deposit to their bank account, etc. Edit: what's great about bitsquare, is that there really isn't a need to talk to the other person at all really... so the ability for a seller to require an ID to trade is non existent. |
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Blockstream/Core propagandists will tell you that he purposefully pushed Satoshi out by going to the CIA for nefarious reasons.
But honestly that really doesn't make any sense to me. It seems as if Satoshi went to great lengths to protect his anonymity, so for one, I really don't understand why Satoshi got spooked just by someone else going and talking to the CIA. And what would Gavin have to gain from all of that? It's not like he got paid or gained a whole lot more "power" than he already had. The thing about open sourced projects is that it's open for anyone to contribute... so Gavin cooperating with the CIA for "nefarious" reasons doesn't make much sense. |
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Yes soon bitcoin will join forex as bitcoin demand increases as well as transaction even lots of people using bitcoin for there foreign visits . Big forex ventures willl include bitcoin in their exchange not only bitcoin some of the altcoins like ether, ltc and dash will be includ d
I don`t want altcoins to accepted by the forex platforms.All the altcoins are unstable and vulnerable to attacks and price manipulation. Bitcoin is the only cryptocurrency that deserves the right to be included in investment portfolios and forex markets. Dude, this argument was literally tied against Bitcoin this whole entire time of Bitcoin's existence... It is very clear that global markets are becoming a real thing, and with that, global currencies will need to be a real thing as well. Arguing that Bitcoin is the only cryptocurrency that "deserves" to be traded in forex markets is naive. I agree that 99% of altcoins on the market are scams... but there are a few out there that are making real progress in improving cryptocurrencies and improving the experience for cryptocurrency users. Want fast payments? Litecoin. Want to run a decentralized application? Ethereum. Want private/fungible payments? Monero. These improvements are as good for Bitcoin than the other altcoins itself... Bitcoin is literally what all other altcoins are "backed" off of, it is the crypto gold. So what is good for altcoins, the projects that are making actual improvements in the cryptosphere, is also good for Bitcoin indirectly. |
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Given the memory requirements otherwise, you will need LMDB first, before you can support 32bit clients.
Honestly this. Even in terms of making aeon usable for people with "normal" computers, AKA 64 bit clients, it's still pretty difficult to run the daemon for it. I feel 8 GB's of RAM is pretty average of regular computers, and since aeon is basically all stored on RAM, it's tough... Hopefully LMDB is easy to port over to aeon since Monero has already done so. |
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The thing that is really hilarious to me in this thread is the blatant disregard that Ethereum is not supposed to be used as a straight up currency like Bitcoin is supposed to be used for.
Yes I understand that it has monetary value attached to the token, but it isn't supposed to be used as a digital cash. It's an app token, so to say that it will overtake Bitcoin as the "main chain" is kind of ridiculous to me. Eth is their own entity.
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Hi I am new to bitcoin and just done my first $1k transfer and was wondering if anybody had better knowledge regarding legal concerns around bitcoin transfer.
I know that when wire transferring money over $10k to an international bank account, my bank automatically reports it to authority. I was wondering if the bitcoin exchange does the same and or if there is any limit in the transfer amount + any tax or legal issues I should be aware of. I am planning on transferring money back and forth internationally to a different account under a different name.
Thanks in advance.
Yes, you have to pay taxes because it's an income(the profit you make by trading). The financial licensed exchangers will report you for sure if someone asks and you have the obligation to declare all your incomes to your tax authority. Don't say"nobody will notice" because it's not like that. That's available for almost all the countries. More than that, your bank may freeze and then close your account if you using it for Bitcoin trading. There so many cases. You can read about them on this forum. So, be careful what bank you are using. Not saying this to persuade you (or whoever is reading this) to avoid paying taxes or anything like that; but it is possible to trade P2P, rather than with a centralized exchange. I've done a couple of trades on bitsquare.io which is a platform that allows people to trade with each other in a trustless manner which arbitrators there are the escrowing service. Not to mention you can use other means such as localbitcoins.com. ... with that being said, it's not like you are prevented from cashing out to your normal bank because your bank will see you got paid by exchanging Bitcoin; rather it just looks like one of your buddies is paying you directly for something and depositing money to your checking account. |
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wall st whales don't become whales by financing mindless pumps that enrich the people already in it.
Exactly. This run up has been has been fueled by stupid money. It's pretty obvious to tell when FOMO has kicked into full effect and this is one of those times... Hell, Bitcoin might go back up to 2700 for all we know; but it's funded by people who don't know what they are getting themselves into. Whales on wall street absolutely know what they are doing and can read markets... they know when to buy the dip... this is primarily the reason why they are whales in the first place. It's going to be a very rocky and crazy ride for at least 6 more months. Whether we go up or down is still up for speculation, but I wouldn't be day trading on Bitcoin though since it is pretty certain there will be some violent volatile movements in the market with so much stupid money in play. |
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The main reason I believe something like this is probable is primarily because of the fact that Bitcoin isn't fungible by design... if you have a currency where you can effectively be able to look at a wallet and see 1)how much you have, and 2) where it came from; you are just opening up a bunch of possibilities for regulation... especially if you buy your coins from a super centralized exchange (i.e. coinbase).
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Is this potentially the reason behind the flash crash that we experienced earlier today? It might have been a correction but by the sounds of it this might have been something that triggered the entire event.
It's not surprising if they had been experiencing record volume because the value was poised to be up +$100 from the start of the day, and the bull market isn't slowing down, so there might have been a lot of people seeking to get into the market sooner rather than later so that they don't miss out on the happenings.
There had to be a correction at some point in time. The only particular thing that makes me think that this "flash crash" happened was just primarily due to the nature of FOMO. When people are acting irrationally with their money, as well as suggesting that everyone you know such as your coworkers, mom, grandma and the dog to get their money into Bitcoin; you start seeing irrational things happen. Even the slightest bit of hiccup in just the rate of increase alone can spook people and get them to start selling and selling EVERYTHING very quickly. It's a very slippery slope when you start dealing with this kind of volume of cash flow into Bitcoin... it becomes a sort of inorganic growth. |
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I'm confused, I was wanting to place a bet on the Kentucky derby and figured there would be something available... I'm not able to see anything? Or maybe the event is under a different name?
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