China has no recourse if the US were to decide to not pay it's debt. There is also nothing to stop the US from selectively paying it's debt-holders and only paying non-chinese debt-holders. The net amount that China is borrowing from the US is much less then the net amount that the US is borrowing. Once the US gets it's spending problem under control the fact that China owns a lot of US treasury bonds will mean nothing. the US will never get its spending problem undet control because that means not paying welfare and cutting state pension checks, both are political suicide. if the US defaults on its debt to china then china stops loaning new money. with 80 billion usd a month in trade defecit that means the US goes hungry. I think it would be possible for the US to generally reduce welfare to more manageable levels along with reforming entitlements to levels that are more in line with life expectancy levels gradually. I am sure that liberals will have a field day over this however it is something that needs to be done |
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Dooglus proven me wrong but he is probably the one and only exception.
It's starting to look that way. Maybe one day there will be another trustworthy crowd-funded casino owner, and I hope so. But it's not looking good so far. The incentive to run away with investor funds is just too great. I imagine that it takes a lot of time and effort to run a dice site and only taking 10%~ of the profits takes a long time for an honest person to ROI verses a dishonest person to run away with investor money |
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What kind of jobs will be available. I would like to possibly become involved in this industry, but don't know exactly what would be good to study to prepare for it (both in university and extra-curricular).
I really don't see the cryptocurrency job market ever getting very big, even if bitcoin or another crypto currency catches on and becomes a "mainstream" currency. Much of what happens with bitcoin is automated and does not require a lot of manpower and more manpower is likely not necessary for additional consumer/merchant adoption |
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I could be completely wrong but from observation, it seemed as though BTC/USD increased to $1,000 each last year because most of the speculators (particularly the newest speculators) hoped that people would develop more and greater services which would be centred around bitcoin. Which has happened but not quick enough then most had hoped and this is completely due to Government intervention, particularly China who is trying to eliminate it completely and the US Government would love to do the same thing but instead they will keep crippling the unregulated financial services offered in bitcoin. Now, I might be wrong but I believe that the fact that these asset exchanges and lack of banking services is a major contributor to why the price isn't higher than it is now. If everyone believed they could get huge returns quite easily using bitcoin then of course the price would be back to where it was beforehand. If people were so scared about the volatility then they would just hedge.
The increase in price last year was due to market manipulation by bots.  The bots were purchasing on behalf of speculators with a lot of money. It is not a conspiracy. Zoznoz is likely correct to say that speculators were trying to profit from quick and massive bitcoin adoption but the chinese government was able to stem this in their country. I would anticipate them easing off these bans/regulations over the long term as they become more of a free market economy |
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1) in NYC 5000 people out of 8.4 million pay 50% of all city taxes
2) in California 150,000 pay 50% of state taxes
3) in America the top 1% pay 40% of all federal taxes.
No other country rips off the rich like we do in America but ,sadly, the joke is on us because when you take incentive and capital from your most productive citizens and give to your least productive, ie., liberal bureaucrats and free loaders, everyone suffers in a poor economy whose heart has been cut out.
Dangerous times when people group together to demand more pay rather than work harder. Bitcoin is full of hustlers though. Love that shit! Have you considered the fact that if everyone followed your shitty logic slavery would still be legal? That is not actually true. When unions are formed the market is distorted as the price of labor is artificially increased, and the demand of labor is artificially decreased as people who do not want to join a union will not work for a union company that does not have right-to-work laws. If a company is not paying high enough wages then they will not be able to attract employees to work for them and would not be able to fill customer orders |
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Those just sound like PnD altcoins. Where would you keep your ear to the ground? Alternate crypto forums is full of emotional shills.
Both have very solid technology behind them and are innovative. They are pump and dump but then so is Bitcoin. Alternate crypto, and see if some idea is gaining traction then visit their own forums. Basically you want to be rich, but do not actually want any effort put into it. There is no innovative technology in any altcoin. They just copy bitcoin and make one or more minor changes and add nothing of value. The altcoin boom seems to be waning as alts in general are declining both in terms of bitcoin and in terms of fiat value. I would say that once the altcoin 'boom' dies down, there will be more room for bitcoin to be successful as people will be less distracted. |
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You got it the wrong way. China will keep producing for USA and continue feeding them as otherwise if it collapse then all the dollars they have is worthless. USA is in a solid position, they buy with dollars which they know the sellers will try and keep propping up. you assume China will continue throwing good money after bad forever. they are already working with the BRICS to get rid of the dollar http://www.standartnews.com/english/read/russia_and_china_team_up_to_destroy_the_petro_dollar-5652.htmlthe end game is near, once China refuses to accept dollars for products America goes hungry. China has trillions of dollars worth of both dollars and US government issued debt. If the dollar no longer is a reserve currency then they will end up loosing a lot of money. China has a vested interest in the dollar continuing to be successful Yes, they are the real losers in all these. Serves them right to have kept up saving up dollars by huge numbers. Now they have to keep on buying dollars to hold it up so that the existing ones they have are not useless. They have to continue to buy up US dollars because they continue to export goods to the United States, not because the dollar would other wise fall. When a country has a net trade surplus with a country it needs to buy an equivalent amount of the local currency, otherwise it will be a net seller of the currency |
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What's the network effect of USD? Think any crypto can overcome that?
The network effect of USD is shrinking and slowly being replaced by bilateral currency agreement with China RMB. Not at all. Tons of people outside of the US are using the USD as a store of value because its relatively stable compared to whatever their country has. Yes even China, Brazil. India Russia and South Africa. But what wil happen when suddenly all of them dump it? They probably will not dump the dollar anytime soon. The reason for this is because there is no viable alternative to the dollar, also many of these countries do not have a stable economy and would experience large swings in prices if they abandoned the dollar. GE coins are a perfectly viable alternative: the empire would merely need to swap-out those states' USD for GEC. I don't think that GE coins are a real altcoin. GE has no reason to make their own crypto currency as running one would cost them money when they can simply issue stock to use as currency See this.  Wow, I didn't think you were serious. I guess people are always coming up with ways to try to make a few bitcoin with a new altcoin (Why does no one believe the GE to be a real thing? [Haven't they heard of "grass-roots" politics‽  ]) It is a knock off of General Electric. People will assume that the company GE made the coin even though it was made by someone very different from GE. |
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I am sorry  I sold someone my Acidyo account a few weeks ago that had a loan to Josepht that was "made" via PM and not public. The loan was fake. I wanted the person buying Acidyo to pay me more money to pay the loan back. This is fucking not true. You can check all the transaction IDs that are in my scam accusation to Acidyo. You loan btc to someone through private message without any topic of the person asking for loan in the lending forum eh That's because the first loan he asked for was via the primedice chat. He paid it back, and asked later on for another loan. I thought I could trust him, so I gave him the loan without posting about it. Edit: plus the people on primedice vouced for him, which was another reason to trust him. You apparently were in the market to purchase accounts in the past. You also either purchased one or have one as you asked about a spot for a sr member in a signature campaign: Is there still place for a Sr account?
Are you wanting to use escrow? Shoot me a pm! ^^locked thread Is your senior account already enrolled in a signature program?
Is there still place for a Sr account?
^^he is not a senior member??? It seems very fishy to me. |
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Number of Post: 65
BTC address: 1GgrKcL6bnS9k2nQrq8dC6VQ5kbWkJkewV
Rank: Member
username: BTCmoons
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Forum Name: BTCmoons BTC addy: 1GgrKcL6bnS9k2nQrq8dC6VQ5kbWkJkewV Posts: 35 (this one included) Rank: JR member Thanks  Leaving campaign due to promotion. Thank you |
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I am here to tell you, robocoin is too expensive, too much verification
THIS They need the verification steps in order to comply with AML/KYC regulations. If the operator does not require these verifications then they will be shut down and face both financial and legal negative consequences. |
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the trick will be to implement a JS multi-sig wallet so that the site itself never handles users funds and escrow is done with the multi-sig by the users themselves, in fact the multi sig wallet generated and signed by the participants should be temporary wallets that will unlock and forward the funds directly to the merchants personal secure wallet solution of choice, after the required n of m signateurs fulfill the contract, implemented is a straightforward easy way for users. Multisig is not the panacea everybody is making it out to be. giving buyers the ability to only unlock funds once the product arrives + a merchant reputation system, would make P2P commerce online posible. maybe the site could be the part of every contract and act as aribtor in case of disputes, a fee would be charged when the the aribtor is required, thats where the site would make its money Multi Sig sounds promising we need to play with it and see what we can achieve. multi sig is essentially an escrow system that does not require intervention in the event the transaction goes smoothly. It is also very complicated (for most people) to use. Bitcoin need to become less complicated if people are going to use it. |
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ok there are lot of people here who argue that there is already a payment system like easypass and many others in various countries which give all these convenience and hence doing th same with bitcoin is not necessary..
but a fundamental realization is that how much easy pass and similar charge you for using those services? and compare it with the charges when the same is used of bitcoin?
without doubt they would fail and bitcoin based tech would win?
I believe that easy pass is actually free to use. I would argue that we may well see a similar version of easy pass but is prepaid with bitcoin rather then with your bank account/your credit card. |
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That's true, it happened before when the Cyprus banks did the dodgey - imagine the effects if a massive bank did that kind of thing.
People would be flocking over to btc.
K.
Yes, Some events like Cyprus need to happen to push up the price of bitcoin, which will lead ppl to realize the important role of bitcoin in the effort of preserving value. I would not be surprised if we see both an adoption surge and price surge the next time we see a major banking crisis. That (the banking meltdown) is what essentially "caused" bitcoin to come into existence in the first place. |
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In my eyes btc is worth more than 1000$ Im going to hodl for life. If you cant afford to hodl or need to sell btc to survive your in the wrong industry then crypto currency is not for you. Its like stock exchange Clearly , in the long term its way more valuable then $1,000 ;-) 5 ,10 years we are talking about $50,000 - $100,000 ea. coin. Well, I dont think bitcoin would rise to 50,000 or so.. Probably the maximum it could goes is 2,000 in five to ten years time. Well, that is my guess. According to Goldman Sachs bitcoin has the potential to reach a max of ~15k (IIRC). There is no reason why it would reach this case later rather then earlier (nor why it would reach this price earlier rather then later) |
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At least they've put some thought into this scam - the fake provable fairness is one step more evolved from using the current time (like luckybit did), the investment scam isn't immediately obvious, etc.
I think they saw how successful that DB was in getting people to quickly invest in their bankroll to crazy amounts. They appear to have invested a good amount of money into this scam, buying both the RandyFields account and the chalidore account in order to give credibility to the scam. I would guesstimate that they spent at least 3-4 BTC buying the two accounts plus some additional small amounts for hosing and the domain plus some additional amount for sock puppet accounts |
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I'll re-post this from July as my answer to OP:
...It should be somewhat clear that 99% of existing alts will lose 99% of their value over the next few years. Most alt "innovations" either aren't innovations (like tweaking blocktime or supply), don't work, don't scale, or don't matter. Furthermore, ninja-mining, pre-mining, ugly emission curves, 51%s, NaS attacks, etc, can all kill coins even if there *were* actual innovation. And further still, it's probably the case that if any meaningful, viable innovation ever gets done in the alt-space, bitcoin could eventually incorporate it, making the separate chain irrelevant.
You have to understand that bitcoin's innovation was 30yrs in the making. Solving distributed global consensus was a breakthrough in computer science. There has not been a single innovation in the alt space that even sorta compares to that. Not one. Which is why bitcoin is highly likely to remain dominant.
Furthermore, it's been well understood for the past 20-30yrs that if you could solve distributed global consensus, you could do digital cash, and it would be a big deal. It's just that no one had figured out how to solve double-spending (global consensus) prior to Satoshi. There is no similar known problem being attacked in the alt-space for which a solution would be a breakthrough of similar magnitude. So an alt would have to luckbox into some completely unforeseen yet incredible innovation.
So bitcoin likely remains the primary crypto-coin. That said, there *are* potential niches to be filled by alt-coins. The only one I can clearly identify is anonymity. It's clear that bitcoin does not offer meaningful anonymity unless the user is technically skilled enough and motivated enough to obfuscate their transaction chains sufficiently. Furthermore, bitcoin is becoming a global asset class, fit for corporate balance sheets and HNW portfolios. It's also obviously seeing high-profile merchant adoption, and tacit acceptance/approval by various governments and regulatory bodies. If bitcoin offered technically pure anonymity that required zero user effort, governments would probably be a lot more directly hostile towards it. Thus, it seems unlikely that the bitcoin community would embrace full-anon tech in bitcoin core; lest governments react harshly and reduce existing ecosystem investment value dramatically.
So that leaves the anonymity niche open to an alt. As I've previously noted, ever since Zerocoin was published, I thought that when it came out as a functional implementation, it'd be the first actually interesting alt-coin. Well, it looks like these CryptoNote coins have beaten it to the punch of functional anonymity. Which CN coin will win is a different matter. XMR seems out in front, but the waters are muddy still.
I don't see any other obvious niches for alts. Turing completeness is interesting in theory, but I wouldn't trust the security of such a chain for a quite a while, and much of the benefits may be possible in bitcoin anyway. Other than that.... ?
Now that's not to say you couldn't make a killing if you play the alt market perfectly, and jump from coin to coin as they fall in and out of favor. But good luck not losing your shirt.
tl;dr: Alts suck, with very few even theoretical exceptions.
I really can't think of any theoretical exceptions to altcoins being crap. Even zero coin (or other anon coins) does not offer anything that bitcoin cannot. It is very easy to use a mixer to hide the source of your bitcoin and to hide as to where your bitcoin goes when you spend it. I also cannot see a very large demand for anon from people that do not have the expertise to hide the source of their coins (someone demanding this would want to be sure it actually protects them, and would gain the expertise to check this if necessary, but once they gain this expertise they could just use bitcoin) |
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Bitcoin will be dethroned in near future....BTC obsolete, there are better projects based around blockchain technology...just needs time get more recognition.
False. New shitcoins offer nothing that bitcoin cannot offer and are much less secure. The network that "secures" the shitcoins are primarily secured by rented hashpower by the devs who can easily manipulate the blockchain |
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What they are doing different is the user experience. They are making it so using bitcoin is more user friendly and so you do not need to use complicated programs that has a complex GUI in order to spend and use your bitcoin |
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