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My impression of the idea is that it is some sort of gimmick. Everyone is now trying to sell snake oil and are trying to make money from the blockchain craze. Would these blockchains even scale? I can see most or even all of these ideas get abandoned the minute they see the hurdles and limitations. Or maybe they already have seen them and are only starting the gimmick as a ponzi scheme like what most of the altcoins are doing.
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Jumping on the necro here, but what are the odd of mistakenly typing in a valid address? Is it a realistic possibility?
No it isn't. There's 1 chance in 4 billion to mistype a valid address. Plus, why are you manually typing addresses?  That would be an open possibility for people to lose a lot of Bitcoins. Also am I the only one who copy/pastes the address and then checks and verifies it per character by looking back and forth at the address copied from? Sometimes I inwardly cringe before clicking those send and confirm buttons. |
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But how will these "bans" really be effective? I could always use a VPN and Tails Linux to hide my transactions and dealings from the authorities. The only difficulty I could go thru is how to convert to fiat if I only decide to convert but it is not impossible. An underground market for Bitcoin to fiat conversion could take place in a big way.
It will be like dowloading movies and music thru torrents. It is "banned" but they have difficulty enforcing it.
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I will give you a couple of golden rules here and you should with them for the rest of your life.
1. 99% of Cloud mining websites are a scam , they don't even have an actual mining equipment even If they tell you otherwise.
2. Websites that promise to give you ROI (Return of investment) + profit back in x months are a scam as well. I mean they do start paying but they will end up taking all the funds of users. (Coince , HashOcean could both be an example for this).
Poloniex is probably your best choice right now , I would advice you to invest into ICN (ICONOMI Tokens and not iCoin) , the Token is not yet added to Poloniex as It was issued a few days ago but the price is low at the moment (you could buy it from Kracken) and sell it back once Poloniex or another major exchange adds it. Investing into Altcoins or ICO could be a great deal If you know what you are doing.
That is very bad advice. I did a little research on Iconomi and have seen that they are investing in a basket of different cryptocurrencies. Seeing how most of the altcoins are going down big right now, your advice should be to stay away from anything other than Bitcoin. |
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It looks scary. Please vote.
Why would it look scary? This is the time to hold and buckle your seatbelts because we are in for some volatility and a rocket ride up to what might be towards to $1000 again. I have to admit I closed my bids on $550 and had to buy more Bitcoins at a higher price when I saw how the price was behaving. |
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Thanks for this trivia and after reading this posts I am curious if its true an I ask Mr. Google. It turns October 31 is bitcins birthday and I may qoute below a post from foserfox. Today is Bitcoin’s Birthday. Satoshi Nakamoto released the Bitcoin Whitepaper eight years ago today, on October 31, 2008. At the time, many people who first read the paper became interested in the background technology, and several wanted to see it in a working state. It seems very few knew that was going to happen. Once Bitcoin launched in 2009, the biggest success story in digital money was launched. Satoshi launched Bitcoin as open source software so anyone could use it, fork it and update it. At first, the early adopters were mainly from the cryptography community like Hal Finney, the recipient of the very first bitcoin transaction. bitcoin market cap on Bitcoin's BirthdayNick Szabo and Wei Dai were also early adopters, with Szabo having developed “bit gold” prior to the Bitcoin whitepaper’s release. Wei Dai is the creator of b-money another precursor to Bitcoin. Bitcoin’s adoption was a steady progress as more people began to find out about it and experiment with everything from forking and making their own coins to mining technology. https://news.bitcoin.com/bitcoin-birthday-whitepaper/Happy Birthday Bitcoin! You changed many lives and gives opportunity to many people on this planet. Also do not forget Adam Back and the development of Hashcash which is where Bitcoin's proof of work derives from. For me proof of work is still the best method to achieve distributed consensus. |
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Good news but I do not think it is that huge in my opinion. It for sure is a really important one due to the fundamental nature that gives Bitcoin more infrastructure to get money in and out of the system. It will also help gain more adoption. I hope we see more brick and mortar terminals accept Bitcoin especially when the Lightning Network rolls out.
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If anyone offer you, So which thing you want choose like
1. BITCOINS
2. GOLD
3. DOLLAR (fiat currency)
If these things have same price than which thing you wanna choose? Actually I want to guess how many peoples like bitcoin.
Because if i have a offer than definitely i will choose Bitcoin, because i like bitcoin more than gold, and bitcoin's price is more strong than dollar.
What we are here for is the potential of Bitcoin, whether it be the future potential of the price or as the potential breakthrough and savior for our financial system, we are here for the same thing. To see where this tour de force will bring humanity. I could see a majority of the people outside the Bitcoin community choosing gold or fiat due to the fact that they do not understand the implications of Bitcoin and blockchain technology. |
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For the long term, mass adoption matter a lot. I have said this before in this thread without really taking into account the importance of a huge price increase. In Bitcoin's case it looks like that a huge price increase goes hand in hand with mass adoption. With the present price of Bitcoin, no one is really interested. But what if it reaches the dream price of moon $10,000 per coin?
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In fairness to the Bitcoin Foundation, maybe they have also done some good for the Bitcoin world. I am still new to this forum so I would like to know the good they have done for Bitcoin in terms of adoption. But the skeptic in me is thinking that the foundation might be used to leverage the acceptance of Bitcoin Unlimited. Can that be possible?
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10. Bitcoin as a store-of-value reemerges as a key theme
This will happen when people in the Bitcoin world realize that inflation of fiat currencies will happen sooner or later. In the back of people's minds Bitcoin has always been a store of value. Just look at how they treat it, they hardly spend anything using BTC and most of it goes to cold storage. |
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Bitcoin is something entirely new and there is no way to classify it for sure because the quick advancement in cryptocurrency technology has surpassed what the laws and regulations have available. It will be hard for the authorities on how to regulate it due to the peer to peer and its decantralized properties. They would have to shutdown the internet to stop cryptocurrencies.
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Today Price bounces by $20 overnight and today is first day of this week so i think we are heading towards $700 which may get touched by end of this week, what are your speculation.
How much you guys have right now and will you short some when it reach $700 again or not?
With your experience level in this forum, I would expect that a 3% daily movement in Bitcoin won't make you start a new thread. Why? simply because Bitcoin is a still very volatile asset and such movements are part of the game. No need to make big theories out of that. Why not? This new price trend upward is not just the normal volatility movements of Bitcoin. There is a new pump that is worthy to be talked about. One new theory that is coming out is that Iceland's Pirate Party might become the next to rule their government this coming Saturday. So there are talks that we might see Bitcoin becoming adopted as an actual national currency. |
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Before I sleep last night the price was just below 660, and now it is above 680. It even hit 690 at one point. It this a legit price increase or is it just a pump for the holiday? Why does bitcoin price seems to pump around this time of the year?
This current pump is clearly done by the Chinese because if you try to see the price difference a converted price of Bitcoin to USD at the Chinese exchanges would amount to $705 as of right now. The price of BTC in bitstamp.net is only at $685. That alone tells you that China is pumping money in the system. If this pump is "legit" or not the answer is only history will tell. If it stays above a certain price higher than now, then yes it is. If it drop below $600 after a few months then not it is not. For me it is a legit price surge because many people may have realized that Bitcoin is the gold standard of all cryptocurrencies. |
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Maybe it is also because the Bitcoin mining rewards are also cut in half every 4 years. We had one this year and the first one happened on 2012. Both halvings created more demand for BTC and the direct effect is an increase in the price. That is the practical explanation that is the most plausible for me.
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Firstly, I have to disclose that I am a Core supporter, and I like the direction they are going with SegWit and LN. That said, I still feel that the slow progress on these implementations and projects are playing into the hands of our competition.
We < Bitcoin > have had a head start over our competitors for a couple of years, because we were first. The gap between us and the competitors are declining with each day that these scaling solutions are not released. We have seen Ethereum and Hyperledger < Corda > gaining momentum faster than we are progressing with SegWit and LN.
Will this cautious approach cost us in the long term, when these other technologies catch up?
Yes, it is better for us to make sure that our multi Billion dollar technology are secure, but will that cause us to lose ground against our competition? All this fighting about Big and Small blocks are wasting valuable time. Let's just leave the developers to do, what they are paid to do, which is coding.
Give the PR work to other people and let's just get this done, so that we can stay ahead of the competitors. ^hmmmm^
What momentum are you talking about? Ethereum and Hyperledger are free to deploy their platforms in a real world scenario and could be considered as Bitcoin test nets but with better exposure since it is released for real. If you fear that Bitcoin's "competitors" are "catching up" then I suggest that we should learn and read more about Bitcoin. It is the gold standard of cryptocurrencies. Slow and secure development should be seen as a plus. You think Ethereum is a good plaform? I was going to invest in Ethereum Classic but after doing some research I changed my mind. |
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https://www.theguardian.com/technology/2016/oct/22/city-banks-plan-to-hoard-bitcoins-to-help-them-pay-cyber-ransomsSeveral of London’s largest banks are looking to stockpile bitcoins in order to pay off cyber criminals who threaten to bring down their critical IT systems.
The virtual currency, which is highly prized by criminal networks because it cannot be traced, is being acquired by blue chip companies in order to pay ransoms, according to a leading IT expert.
On Friday, hackers attacked the websites of a number of leading online companies including Twitter, Spotify and Reddit. They used a special code to harness the power of hundreds of thousands of internet-connected home devices, such as CCTV cameras and printers, to launch “distributed denial of service” (DDoS) attacks through a US company called Dyn, which provides directory services to online companies. DDoS attacks involve inundating computer servers with so much data traffic that they cannot cope.
There is no evidence that Dyn was the subject of extortion demands but it has become apparent that hackers have been using the code to threaten other businesses into paying them with bitcoins or risk becoming the target of similar attacks.
Dr Simon Moores, a former technology ambassador for the UK government and chair of the annual international e-Crime Congress, the global body that brings together IT professionals, said the scale and ferocity of the attacks meant some banks were coming round to the view that it was cheaper to pay off the criminals than risk an attack. I do not believe any of that press release. Banks are smart. They will not hoard something unless they see that it can generate some profit for themselves. Do you actually believe they are buying Bitcoins to pay off malware attacks? They are buying because it is on the way up and fiat currencies are starting to go down. The article mentioned that several London banks are doing the buying. Why? Because GBP is going down so they need BTC to hedge. |
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What are the chances of never increasing the block size beyond 1mb? Is it a case of when, not if? and is the when, more likely to be sooner rather than later?
Will we see a negotiations on increasing the 1mb size cap in order for segwit to see the light of day?
Segwit IS an increase of the blocksize cap, it increases to 4MB. Surely it means that Segwit will free the blocks enough that it would allow, in paper, 4mb worth of transactions? Please explain more if I got it wrong. Because if it really increases the blocks to 4mb each then that would also need a hard fork, right? Forgive me for the stupid question. My first impression of Segwit was that they would remove data from the blocks to fit in more transactions allowed in each block with no increase in the block size necessary. |
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Why are you talking about businesses when I'm talking about mining pools? Who's Roger Ver?
There must be some kind of misunderstanding. Why were you talking about mining pools? I was talking about venture capitalists not making back their investments in Bitcoin companies in the post of mine that you quoted. Are you serious about the 2nd question? You still haven't answered adequately. Why are you saying that any Bitcoin business, mining or not, is rushing to fork the blockchain, when none are? I think I got my wording wrong. What I meant to say is that they are supporting, not rushing, the hard fork for bigger blocks. From all the news that goes thru in this forum we know Roger Ver is one of Bitcoin Unlimited's biggest supporters, we also know Brian Armstrong supports bigger blocks and now it appears that Bitmain are also supporting Bitcoin Unlimited, if the rumors are true. Surely there are others among the "Bitcoin elite" who wants the hard fork to happen. If the nodes follow the whims of the the Bitcoin elite and does switch to Bitcoin Unlimited then that could be a sign that Bitcoin could be controlled by an oligarchy. |
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Why are you talking about businesses when I'm talking about mining pools? Who's Roger Ver?
There must be some kind of misunderstanding. Why were you talking about mining pools? I was talking about venture capitalists not making back their investments in Bitcoin companies in the post of mine that you quoted. Are you serious about the 2nd question? |
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