Someone out there is trying to use the ''Chinese Will Ban Bitcoin" scare tactic again. Why not ban it already and let Bitcoin move on from it. If those rumors are true, which they are not, then it could also be seen as a positive for Bitcoin for various reasons. China will slowly lose or diminish their influence over Bitcoin and will give room for other players to get in the exchange trading and mining game. Another reason is this should be seen as another test for the resilience of Bitcoin and a chance to give the finger to the man.
Shutting out more than a billion people won't be good for Bitcoin. We could plunge to scary levels, which would result in other people losing faith in Bitcoin as well. A billion people? So you think a billion Chinese people are using Bitcoin regularly in their lives now, and that shutting them out will result to dire consequences to the Bitcoin economy? I am sorry sir but most of the Chinese who are into Bitcoin are speculators. It will be surely bad if those thousands of Chinese speculators will be shut out but it will not make Bitcoin "die". Far from it sir. |
|
|
|
however hyperledgers blockchain is using sha, but the lock is more so POA (proof of authority) where each hash is signed by a keypair.rather than POW.
so no, no random people will be mining it. but the banking cartell will be signing hashes to secure the chain. and distributing it on many systems internally as a way to offset tampering by their own employees by having it in separate locations instead of one single copy.
so yes its not going to be as strong as bitcoin. but then it will only be used on a closed system on hardware designed to only be run by those with authority.
Wouldnt it be more efficient and cheaper for those banks to use SQL or an Oracle database instead of riding the blockchain craze? Because it really feels like they are just trying to get in the trend of the times without really understanding what the whole point of Bitcoin really is, which is where they derived the blockchain from. Because for me a blockchain is the Bitcoin blockchain and if they cannot create it in the same manner then it might not even be a "blockchain" but a database with blocks that is "linked up together in a chain". banks version will not be as strong as bitcoin, but instead of a single SQL database, by having duplicate 'databases' that can corroborate each other by simple showing each other a hash value of any piece of data. they know that none of their own staff have tweaked the data without the bank authorized permission. savings can be made by sacking internal auditors and HR investigators, internal affairs officers, etc, etc. which saves them millions of dollars a year. i agree the banks wont be using all 10 of bitcoins security features but.. by having lets say 94,000 bank branches in america alone. banks distribution within its closed network can actually be more distributed just in america more so then bitcoins ~5000 nodes. so although they know its a closed network that is not going to have the POW difficulty of bitcoin, knowing each bank branch employee cannot maliciously create themselves a billions dollars to a secret account and then resign to the Bahamas. is a good thing to them. so its swings and round abouts.. less secure than bitcoin but more secure than their old SQL system. last thing to note. even bitcoin stores the data in a database. (using LevelDB) its more about how the database is secured and how it avoids corruption that mattersYes exactly. But what we all love about Bitcoin is it is designed to be trustless. We all know that all the transactions that transpired and happened in the network is nothing but the truth. In Hyperledger, do the banks need to trust each other with their data? Will it not be possible for some corrupt banks to collude together to manipulate the ledger to their advantage and interests? How will they prevent this? |
|
|
|
...
In my opinion insiders and whales would milk the market with as much fiat as they can without causing any panic. So it was probably caused by panicky traders, or even by trading bots that got their stops hit on the way down falling one by one like dominoes.
What do you guys think caused it?
We have the same theory. I also think that the sell down of Bitcoin was really accidentally caused by trading bots' stop losses being hit and activated causing another sell down and another cycle to continue like, to use your term, "falling dominoes".
Edit: Here's another point: 1) Caused by panicky traders = The trend continues. 2) Caused by whales and insiders = The end of the current trend, or possibly just the first wave.
Here is the funny thing. The people who released the rumor knew really that the trading bots stop losses will be hit and it will cause a sell down going below $700. |
|
|
|
Bitcoin Unlimited will join the altcoin cementery soon along with Bitcoin XT and Bitcoin Classic. By next year we should have segwit activated already.
In the moment of truth people know it's stupid to gamble with developers, and the Core devs are the most solid devs.
OMG what a Kool-Aid drinker. SegWit and LN is not Bitcoin. It is CoreAltCoin. ...and it is stupid. Fucking stupid. Core/Blockstream is the biggest scam in Bitcoin. They are trying to take over. That is not a problem because you can always fork it away from the core developers. I understand your argument and your concern but there is no need for name calling and condescending comments. If you do not agree with the cre developers and the direction they are taking then just campaign for the fork in a respectful manner. That is why Roger Ver is still highly respected because he has the right attitude. |
|
|
|
|
Someone out there is trying to use the ''Chinese Will Ban Bitcoin" scare tactic again. Why not ban it already and let Bitcoin move on from it. If those rumors are true, which they are not, then it could also be seen as a positive for Bitcoin for various reasons. China will slowly lose or diminish their influence over Bitcoin and will give room for other players to get in the exchange trading and mining game. Another reason is this should be seen as another test for the resilience of Bitcoin and a chance to give the finger to the man.
|
|
|
|
Who sells their coins as a reaction to baseless rumours any way, that's what I want to know.
This is my theory. The news has supposedly caused a minor sell down but due to that sell down trading bots' stop losses were hit on the way down causing the price to go down further and then causing more trading bots' stop losses getting hit and it moves the price down again causing another cycle. Look how fast it recovered after that and Bitcoin is now at or above $700 again. |
|
|
|
...
however hyperledgers blockchain is using sha, but the lock is more so POA (proof of authority) where each hash is signed by a keypair.rather than POW.
so no, no random people will be mining it. but the banking cartell will be signing hashes to secure the chain. and distributing it on many systems internally as a way to offset tampering by their own employees by having it in separate locations instead of one single copy.
so yes its not going to be as strong as bitcoin. but then it will only be used on a closed system on hardware designed to only be run by those with authority.
...
Wouldnt it be more efficient and cheaper for those banks to use SQL or an Oracle database instead of riding the blockchain craze? Because it really feels like they are just trying to get in the trend of the times without really understanding what the whole point of Bitcoin really is, which is where they derived the blockchain from. Because for me a blockchain is the Bitcoin blockchain and if they cannot create it in the same manner then it might not even be a "blockchain" but a database with blocks that is "linked up together in a chain". |
|
|
|
At present, I am doing a research on the most profitable trading method and I am wondering: Is it better to do btc/fiat trading or btc/altcoin trading?
Which method yields the highest profit?
It really depends how well you know those markets. Sometimes a person who is good at trading BTC/Fiat will lose money trading altcoins because they are simply a different market. If you want to know which is better, I would say all of them are good only if you know how and also have experience in trading them. |
|
|
|
|
The campaign that pays the highest is the best. Right now Betcoin.ag, Fortune Jack and Bisler are the highest paying ones. But you have to be knowledgeable in gambling to join because they require a campaigner to post in the gambling section since they are an online casino or sportsbetting site.
I wish I could join them but my experience in gambling is very limited and I do not really gamble much.
|
|
|
|
|
If you are a trader then letting people make speculation threads should be encouraged. It will show you what the current mood of the market is more or less. Before the sell down it was crossing the border to mania with some people starting to predict another all time how with predictions that reach $3000. For the very long term it might be possible, but in reality with the current state of the Bitcoin economy a real, non-speculative price of $3000 is not possible right now. Reaching that price in 2017 will surely be another bubble waiting to pop.
|
|
|
|
What is the minimum amount to start as a trader?
You have it in reverse. What you should be asking yourself is "What is the maximum amount to start that I am willing to lose in trading?" With that question in mind, once you lose all your starting amount you should quit trading for good and never look back. It is clear that by asking that question that you are still a newbie in trading. Trading is almost like gambling because you are never too sure if the decisions that you made will be profitable. A good example is the recent sell down in BTC. That might have caused some panic to inexperienced traders making them sell at a loss. |
|
|
|
In a competitive market you have to be innovative and have some brains to do a sustainable business,the Chinese did not put anyone out of business instead they went out of business because of lack of innovation,nobody stopped anyone in the process and so no one is to be blamed here Chines put everyone out of business. No more manufacturing in any country. Chines are too good. Sam Cole is sleeping in the streets and losing weight fast because he lost everything due to Chines. Why is it the fault of the Chinese? In the U.S. it is hard to start a manufacturing company because of the red tape, high taxes and the never ending fees. In short the U.S. government is making it hard for companies to manufacture products in the their own country. I read an article about Apple where Steve Jobs mentioned he preferred to set up factories in the U.S. but the government is creating an environment that discourages this. Because Chinese kills every industry that they are going to see as long as that is going to be helpful and profitable to them. But we can't blame those Chinese as they are one of the countries who have a very cheap manufacturing and manpower fees. So most of the companies are getting their manpower and products to China and because of that environmental issues in the US that will literally kill the industry, but it is better to take care of the environment for real. And your point is? Only because the Chinese happen to be willing to manufacture and work for lower fees, costs and wages does not mean it is their fault. It is the reality of the situation. The US was ahead over everyone else in manufacturing decades ago, it their own fault why they are lagging behind China now due to the reasons I posted above and those are not the only reasons. |
|
|
|
I tend to laugh at these comments. It is like everyone is branding Bitcoin as the answer to all our financial and political woes. It is a step forward but it is far from being the ultimate solution that would straighten up the world into a Utopia. We are now sounding like those stoners who keep saying that "Hemp will save the world" like it was that simple.
Bitcoin alone can't save anyone, but with bitcoin we might influence current rotten economic & banking system based on endless debt spiral and effectively making us slaves in a process. Do you think it is pure coincide that Bitcoin is banned in Bolivia and Ecuador? South American countries are known for their financial instability - authorities fear bitcoin will take power from their hands. I accept the fact that Bitcoin is a breakthrough and has widened the meaning of how define "money" as Money. Let us just leave it at that first and be here for what it is, a break through and our tour de force and leave politics, the cult like behavior and the utopian fantasies out of it. Things will evolve and come naturally and I am confident Bitcoin will indeed change the world for better or worse. |
|
|
|
I was thinking here how they can introduce fiat currency in blockchain, if one day someone can do that will be great however I doubt it will happen.
Blockchain is a baby, hope this technology can grow strong.
look into hyperledger.. and yes blockstream programmed it and banks own it. including chinese banks Is Hyperledger really a "blockchain"? Does it use proof of work? Will anyone be able to mine the blocks in the Hyperledger network? Sometimes I see that many up and coming start ups and the formed R3 banking consortium claim that they will be using a "blockchain" but all we see is a glorified database that uses blocks and tied them up together in a chain and then called it a "blockchain". They want to take out the most important piece of the puzzle that makes a "blockchain" a Blockchain which is proof of work. |
|
|
|
Bitcoin will soon crush the 778 peak from june 16, then after that sky will be the limit and we will head towards the new all time high. Shorts will burn hoping for a big crash that will not happen. If you are hoping to test 500-600 again you are wrong, time to get in on the winning boat.
Just the fact that ZCash was trading for such high amounts tells you how high Bitcoin will go (and for actual reasons, not some insane pump).
We are going $3,000 on this baby when crush the last ATH.
As the predictions get more and more into the manic stages that is where we should start to question ourselves if we are in another bubble or if this current price trend is caused by speculative buying. I would love Bitcoin to reach $3000 but is that really possible right now with the current economic state of Bitcoin without it being a speculative bubble? |
|
|
|
its a leadup to being added to the hyperledger later.
afterall R3 is merging its concept with the hyperledger, and so will sbi
There were rumors floating around that R3 seems to have some problems. Some banks trying to patent certain parts of the technology and I think some financial issues as well. I haven't any newslink available right now, but in the last Bitcoin News Show this topic had been discussed as well. Let them form and join blockchain consortiums as much as they want I say.If something productive can be realized is still questionable imo. They have been patenting some parts of the technology because these banks do not trust each other. This consortium and the hyperledger strategy will crash hard and fail unless they learn to level with each other and learn to work together for the common good. Patenting is very counterproductive for what they are trying to achieve. If they truly distrust each other, then why not use Bitcoin instead? Also according to some, the Linux Foundation is a trashcan. It is where you put your dead projects. |
|
|
|
Personally I'm pretty happy with the softfork instead of a hard fork. it's backwards-compatible and everyone can upgrade whenever they wish.
Let's hope 95% of the blocks will be mined by segwit-supporting pools and we'll see segwit in action!
I am with you but for a whole different reason. A hard fork should be considered only as a last resort. Let's get SegWit up and running already and then get the Lightning Network. There is more potential for exploration of ideas in the route of LN than forking to bigger blocks. The use case of LN as a bridge to other blockchains is what gets me excited. Plus zcash anonymity could be implemented in LN right? |
|
|
|
|
As my Bitcoins get larger and larger in value the more I want more control on them. Why would I trust all my Bitcoin savings on a 3rd party service which the usual goal is to gain some relevance? For an investment of a couple hundred of $ all my Bitcoins are all safe in a hardware wallet that I hold and control.
|
|
|
|
localbitcoins weekly volume 280 btc? either the population has suddenly reduced to a few thousand or this bullshit.
i'm getting tired of these dumb articles trying to find epicness where there is none to be found.
and if you did have bitcoin why would you sell it for bolivars? you'd need a truck to pick up the cash.
Everything fine until I read "wallet hacks"... Actually bitcoin in Latin America have a lot of potential because of the corrupt/bad governments... A good chance to be free. I tend to laugh at these comments. It is like everyone is branding Bitcoin as the answer to all our financial and political woes. It is a step forward but it is far from being the ultimate solution that would straighten up the world into a Utopia. We are now sounding like those stoners who keep saying that "Hemp will save the world" like it was that simple. |
|
|
|
In a competitive market you have to be innovative and have some brains to do a sustainable business,the Chinese did not put anyone out of business instead they went out of business because of lack of innovation,nobody stopped anyone in the process and so no one is to be blamed here Chines put everyone out of business. No more manufacturing in any country. Chines are too good. Sam Cole is sleeping in the streets and losing weight fast because he lost everything due to Chines. Why is it the fault of the Chinese? In the U.S. it is hard to start a manufacturing company because of the red tape, high taxes and the never ending fees. In short the U.S. government is making it hard for companies to manufacture products in the their own country. I read an article about Apple where Steve Jobs mentioned he preferred to set up factories in the U.S. but the government is creating an environment that discourages this. |
|
|
|
|
Show Posts
