Well you can forget fast food because of the transaction time with Bitcoin and who could afford
to tip the waiter after being mugged by BTC miners for $30 per transaction.
if the road is broken then no point buying a car.
I want to be the optimist. Yes, the experiment might fail now, but it will get international attention. <Good or Bad> When the Lightning Network is fully adopted, we will have near instant transactions and it will be virtually free. <No 3rd party needed> Bitcoin with Lightning Network, will knock their socks off. I think a lot restaurants and fast food places will accept Bitcoin, after the Lightning Network is launched. KFC will be seen as a Early adopter of the technology, by the time when the rest catch up to them. ^smile^ |
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This is how many succesful people build their CV. Everyone can see that Blockchain technologies are a thing for the future and more and more people are asking for developers with Blockchain experience. <Lately a lot of ICO's too>
I would like to see a Alt coin, where miners compete to offer the lowest fee for their customers. The guy with the lowest fee, gets to mine the Block. <If he adheres to the minimum hashing requirements to mine that Block or Blocks>
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What did that bitcoins cost him at the time? Did he buy back the bitcoins or did he just piss away those coins? Let's say I have a entertainment budget monthly of $5000 and I use that to buy drinks at a local bar, but I convert it to Bitcoin. <because the bar accept Bitcoin> The $5000 would have been spend, no matter what. <I could have spend it in Fiat currency> Lazlo should have bought those pizzas with his "entertainment" budget and then bought back those bitcoins, but he was proving a point. <This gave him notoriety in the Bitcoin community and international recognition> You cannot take money to your grave, but your Legacy will stand. ^smile^ |
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So far, China is banning cryptocurrency mining because of environmental issues.
What a bunch of crap! China could care less about the environment than most countries in the world. Their over fishing practices, globally are destroying fish population and many plant and animal species are pushed to extinction, because of illegal smuggling of endangered species to meet their special culinary and medicinal demands. <Most of these has no scientific proof and are based on cultural beliefs> https://www.livescience.com/27862-china-environmental-problems.htmlI have to add that most mining are done with environment friendly resources, like Hydro power, which is a plus point for them. ^smile^ |
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It looks like Coinbase is one of the main reasons why Bitcoin <Legacy> is struggling at the moment. If Coinbase add support for SegWit and they stop spamming the network with unnecessary traffic, most problems will be resolved.
Coinbase is deliberately supporting Bitcoin Cash over SegWit <By implementing it before SegWit> and they are not batching tx's, but rather allowing people to send individual tx's, causing unnecesary congestion on the MemPool. ^grrrrrrr^
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I expected a game, where I control an on-screen character and engages in close combat with an opponent, which can be either an AI or controlled by another player, but I was very disappointed. There are no fun or eye candy, to make this a good experience.
I would rather play Slot machines with some fun animation for a better experience.
When you see the word, "Battle", you expect a lot more from the game. I was hoping for something like the Battle Ship game, that were doing the rounds a while ago.
Sorry to be a downer, but sometimes it is more than gambling and all about the fun factor. Some people gamble for the fun and entertainment and not just for the money. ^smile^
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Interesting. If you post correctly, it will take you just over 2 years to level up to Legendary. When I started out a few years ago, I just posted frequently, because I liked the forum and before I knew it, I reached Legendary. The secret to the success for this, is not to post on the forum to rank up. Come in daily and look for something that interest you and then just chat about it or ask questions to gain more knowledge.
Time goes by very quickly and before you know it, you will be a Legendary member of this forum. ^smile^
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Someone created a digital payment network <software> that release a specific amount of tokens <bitcoins> that are mined by people with specialized hardware. These tokens are sold on a open market and used as a store of value or a currency. The value of this token is determined by supply & demand.
The distribution of these tokens are stored on a decentralized database, called the Blockchain. <This database keep track of the ownership of these tokens> You claim ownership with your Private key. ^smile^
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What makes this even stranger is that the Ethereum price is climbing, even though several bugs has been reported in the code. The Ethereum network has several technical problems, like the "gas oracle" fee problem and also Blockchain syncing issues, but the price is still climbing.
There are even problems with the Casper test network, where nodes cannot connect to the Blockchain. <Future scaling problems>
So why are we seeing the Bitcoin price declining and the bugcoin, Ethereum climbing? Someone is definitely manipulating the markets at the moment. If these bugs were found in Bitcoin, the price would have crashed. ^hmmmmm^
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Is this not risky for people who wants to stay anonymous with Crypto currency investments? Is this data stored securely or logged in any way? In the wrong hands, this information is a Gold mine to find targets to hack, because you linked the investor to their specific wallets and you know which ones are the fat Whales. ^hmmmm^
Great Bot, but this might be risky if the data is intercepted.
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Typical high-end computer graphics card will give you a hashrate of a few hundreds of MH/s. Let's say 500 MH/s (that may even be optimistic if you are using a laptop graphics card with no specific optimization or tweaking). According to a online mining calculator this gives you a whooping 0.00000629 BTC per day. <back in 2014> Which means it would take about 435 years to mine a single bitcoin. And that computation is not even worth anything because it assumes that the difficulty will remain constant, which it won't. *Quoted from someone else's calculations back in 2014, but still applicable today. ^smile^ Source : https://www.quora.com/How-much-CPU-time-is-needed-to-mine-1-bitcoinhttps://en.bitcoin.it/wiki/Non-specialized_hardware_comparison |
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... And that's why Bcash will probably fail: when the block subsidy drops to zero, so will mining outpute, because fee income won't replace subsidy income.
IŽd speculate that it will fail much earlier. Their blocks are still literally empty most of the time and if the prominent backers of Bitcoin Cash will someday switch their support to a different project (remember, some of them were also involved in earlier ventures like Bitcoin Unlimited and so on), the project will fade away or become one of these "ghost blockchains". I agree on the general importance of a competitive fee market in order to incentivize miners to secure the network when the block reward becomes negligible. The BCash guys are literally hanging on with their finger tips. They know the Lightning Network and SegWit will eventually render BCash obsolete, but they are using this temporary advantage in their favour, to push BCash adoption and to attack Bitcoin's current scaling problems. BCash will soon join Bitcoin Unlimited in being a failed attempt to take Bitcoin down. This was a stronger attempt, but Bitcoin is known for coming back in the last rounds. ^smile^ Cheap micro payments with Bitcoin <Lightning Network> has been done on the Main Net, but it is still early days for this technology. |
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We have not seen bad news lately, but most Crypto currencies are losing value. We have to ask ourselves, why that might be?
The theory is that Wall Street traders are using Institutional Capital <other people's money> to create a favourable environment for them to buy bitcoins for themselves.
The South Korean clamp down is just FUD that are being used as an excuse to dump some coins. <not their own> There is no threat, because the South Korean government is just tightening regulations to protect their consumers from unregulated exchanges.
We know Wall Street traders are getting large Bonuses in January and some of them might invest some of that money into Bitcoin for themselves. Why would they not manipulate small markets like Bitcoin <with other people's money> to buy cheaper bitcoins for themselves? <Dumping coins to push down the price and then buy cheap coins for themselves and then buying coins again with other people's money, driving the price up again and then selling their coins at a large profit?>
What do you think?
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It has been a wild ride so far, with all the drama. I have not seen as much drama, since the TV Series, Dallas in the 70's. < I am giving my age away here > ^smile^
The Plot is basically the same. One family {Bitcoin community}, broken into groups and siblings fighting for dominance. These people are using dirty tactics to gain the upper hand. Bitcoin <BTC> is alleged to have used censorship and the other group <BCash> used people with money <Roger Ver> to misrepresent and shill for BCash.
It has been a joy, watching this Soap Opera for the last 9 years!
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We have gone through the exact thing with China a while ago. The Chinese government even closed down the unregulated exchanges, until they adhered to the Chinese regulations and most people were running around, saying that Bitcoin was banned in China.
These governments have a obligation towards their consumers to protect them from fraudulent exchanges and financial institutions, so they will implement strict regulations to protect their economy and also their citizens. <Well, that is their excuse, not saying that this is the real reason>
As soon as people realize what this is, FUD will decrease and this will go back to normal. ^smile^
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I think the current drop in the price is due to market manipulation. We know some huge institutional capital have been flowing into Bitcoin lately <other people's money> and some of these Wall Street traders are getting bonuses now. Would it not make sense to manipulate the market, to drive down the price, before you buy some bitcoins of your own and then re-introduce <other people's money> to drive the price up and then sell at a much higher profit.  It is the only thing that are making sense now, because we are not seeing any bad news and the price is still going down. |
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I think our main goal should be to get SegWit fully implemented, early in 2018 and to make sure that the path is smooth for the implementation of the Lightning Network, when it is 100% tested and secure. The scaling of Bitcoin must be our main concern now, because this is driving adoption away from Bitcoin to the competitor coins.
Many first time users are turning their back on Bitcoin, because they had a bad first experience with scaling problems and high fees. ^grrrrrrr^
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I do not consider something gambling, if you can manage the risk. Let's say you invested $1000 into Bitcoin a year ago and you sold it when the price was high and you made a $250 profit and then you took the profits and banked it. Then you bought some bitcoin for $1000 again, when the price dipped and you sold it again for a $250 profit.
In this way, you manage the risk and reduce your potential losses and increase your chances to make a profit or to get a return on your investment.
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Jamie Dimon did not make a 360 for no reason. I think his daughter <Bitcoin owner & supporter> and some of his employees might have influenced his decision. In the US, Bitcoin is defined as a commodity and Bitcoin has been the best performing commodity for the last two years. If you ignore that, then you should not be in his position in the financial world.
Yes, he will support Blockchain technologies, because they <the Banks> can exploit it for more profits, by building their own private Blockchains. ^grrrrrrr^
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