I think https://www.augmentorsgame.com/ are currently the best example of a game that took that concept and ran with it. I am curious on how game developers are planning to counter current transaction delays. Gamers wants instant transaction confirmations. < Are you going to use the Bitcoin Blockchain or counter party tokens? > How would the spoon from game A be beneficial, if game B implements that spoon in a different manner? Or would game A and game B, be from the same developers? < Let's use Blizzard as a example >  Augmentors in another of several games in addition to our D-PARC that put objects on the blockchain. The way we are dealing with transactions is that there are certain points in gameplay where transactions take place with the blockchain. When the game loads it reads the data it needs from the chain and writes to the chain at specific points in play. What the blockchain really opens up is ownership of game objects by putting them on the blockchain. Previously, when you spent 100s of hours and dollars on a game what you walked away with was the experience. With Smart Game Objects it opens up the ownership aspects of these objects to the players. Ok, does the ownership of the object, give you the right to trade and sell with that object, as you want? Will game developers acknowledge your right to the ownership of that object, if they have Copyright on the object? I see this as something similar as Object Linking and Embedding OLE in Microsoft technology, where you can copy & paste between applications, but with your technology it is compatible with different platforms. Right? |
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But 2.1 quadrillion only requires 41 bits of precision to represent (0x1E8F1C10800).
Are you sure about that? 21,000,000 * 100,000,000 = 2, 100, 000, 000, 000,000 0x1E8F1C10800 = 2, 100, 000, 000, 000You seem to be off by a factor of 1000. This means that the upper 23 bits must be zero, no?
If there ever were a situation where all the possible bitcoins were sent to a single output (that really is impossible, but lets use it for an upper bound), then the resulting value would be: 0x775f059e40090 This would require 51 bits, leaving an extra 9 bits that remain unused. How many of the 2, 100, 000, 000, 000,000 Satoshi is currently in circulation? Subtract 1 000 000+ from Satoshi's stash Subtract coins being send to Burn addresses Subtract Lost coins <amount unknown> Subtract Coin that are hoarded/Cold storage <not in circulation> Subtract the coins that are not mined yet. We should not be looking at the Total amount, but rather how many is in circulation. ^smile^ |
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So we all know BTC drops when people sell their coins... but the peaking is purely because of investments...
not completely correct. people are selling and buying at all times, even when price is rising and even when price is dropping. price goes down only because there are more sellers than buyers and in bitcoin it happens during corrections (small drops) and during panic sells due to FUD (big drops). The mall in S.Korea that started accepting BTC as of this month played a massive roll in BTC's growth. Obviously this is because BTC's awareness is growing! Surely there are ways to bring the awareness of cryto to the population. Are there any other 'blow ups' of crypto that you have heard of? Similar to the mall... What are you doing to spread the awareness?  one mall accepting bitcoin? it is not exactly "blow up" to get excited about. it is a small step though. Thank you for the correction However I have to disagree on the mall... it is the first mall in the world to accept BTC and it is the BIGGEST one in S. Korea... it gravitated a lot of attention and I think it's the reason btc shot to $11k I have to disagree with you on that. The biggest driving factor behind the spike in the price is the announcement that Bitcoin futures will be offered on the CME Group and also later on NASDAQ. This is where the real money is coming from, with positive sentiments coming from the institutional capital side. Japan previously opened up a merchant network of over 200 000 merchants that started accepting Bitcoin and we hardly saw any increase in the price, after that announcement. How many shops is there in that Mall? < not more than 200 000? > |
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One thing I have learned from the time I have been around this crazy technology is to expect the impossible. We have seen a price increase from $1000+ to close to $12 000 in a very short time. This year, we saw a increase of more than 800% in the price.
One thing is certain, the price will correct at some time. It might not be this month or even for the next year, but something will trigger a mini dump and depending on what that might be, will determine the size of the dump. ^hmmmmm^
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You have to look at the motives to figure out why these central Banks are doing this. One of the motives is control over all transactions being done. < they currently only have limited control over cash > If they run their own little private Blockchain, then this information can be data mined and monitored by them and also entities that are given access to monitor this. < The government & tax authorities will get access first >
Once they implement this and fiat cash is removed, you will have NO financial privacy anymore. ^grrrrrr^
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They could just search for the answers there's a lot of article that you can find about forks. If the answers don't help then tell them to go here in the forum and make a thread on the Beginners and Help section when you're not available to answer their questions. Imo understanding forks is not that hard because all of the answers can be easily found online.
Reliable information is not readily available and it takes even expert users a lot of time to sort through all the junk to get to the gems. If you were faced with this mountain of work to get answers, then you would think twice about investing in the future and that is the point I am trying to make here. ^grrrrrrr^ We should make this process as smooth as possible for Bitcoin to be an attractive option to invest in. |
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Bitcoin has recently been forked into coins like Bitcoin Cash and also Bitcoin Gold. This added a lot of complexity to a technology that are already been perceived as being too difficult to comprehend for the average Joe on the street.
I get a lot of friends who has bought Bitcoin before these forks, who approach me for help on splitting these coins. They are totally confused with this whole business.
Questions I get is as follows :
~ How do I split these coins?
~ Where do I sell these coins?
~ What exchange support these coins?
~ What wallet can be trusted?
~ How many coins do I own, if I used Coinbase/Xapo etc.
~ I stored my bitcoins on a hardware wallet, but my hardware wallet does not support these coins.
~ Will I lose my bitcoins, if I sweep these forked coins into one of these other wallets?
~ I thought Bitcoin had a limited supply, will these coins increase the coin cap and influence the value of my bitcoins?
~ When will <insert third party service> support these forked coins?
~ What happens if I send forked coins to the wrong wallet address? <Example BTC to Bitcoin Cash>
Fortunately I am available to help with many of these questions, but I feel sorry for the average Joe who invested in Bitcoin and has nobody to answer his/her questions.
Did we alienate the average Joe investor, by adding too much complexity with all of these forks?
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I think https://www.augmentorsgame.com/ are currently the best example of a game that took that concept and ran with it. I am curious on how game developers are planning to counter current transaction delays. Gamers wants instant transaction confirmations. < Are you going to use the Bitcoin Blockchain or counter party tokens? > How would the spoon from game A be beneficial, if game B implements that spoon in a different manner? Or would game A and game B, be from the same developers? < Let's use Blizzard as a example > |
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Bitcoin :
~ 24 hour availability of your funds. <No restriction on Banking Office hours or broken ATMs>
~ Bitcoin will not close their doors, when the governments tells them to. <Like what happened in Greece>
~ Nobody else has access to your wealth. <That is to say, if you have sole access to your private key>
~ Global transactions with Bitcoin is much easier and faster and cheaper.
~ Banks are profit driven. < Profit comes first, clients comes second > In Bitcoin, you are the Bank.
This is just some of the things I can think of now, there are a lot more. < No standing in queues being one of the best >
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Most power plants are throttling down on the generation of electricity, because people are using less electricity. The local rates might be too high and people would switch over to gas or solar. <getting off the grid> The Surplus energy is there for the taking, but there are less demand for it.
Why can that surplus energy not be used for Bitcoin mining? They can subsidize Bitcoin mining farms with cheap surplus electricity and fund more sustainable "Green" technologies with that income. <Doing away with Coal or Nuclear plants and creating solar farms and wind farms>
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It works like this. Most people will test their claims first with a small deposit on the first try and they will get those returns. This activates the greed in people and these sites knows this. The second deposit will be much bigger and this is where it become tricky to get your money back. If they have enough money <from other people they scammed>, they will even pay out the second deposit to bait you into depositing even more money. < On the 3rd or 4th deposit, you will start to experience problems to get your money out >
Some Ponzi schemes run for years, before they collapse. ^grrrrrr^
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Even if Bitcoin did not exist, governments still push for a cashless society. Governments hate cash, because it can be 100% anonymous. They want to control and monitor all financial transactions, so their goals are to remove cash and promote debit and credit card payments via Banks. <You know governments have full access to these financial institutions> Bitcoin or should I rather say Blockchain technologies are very appealing to them, if they can link everyone to their coins. This is why some Banks are working on private Blockchain technologies.  |
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When you read comments like this, just sit back and think about this. Where are their money invested and what would they promote. Bitcoin is taking away Billions of dollars that could have pumped their investments and this influence the price of their investments. They will trash talk everything that has the power to diminish the value of their current investments.
These guys are scared and they are losing money with every dollar invested into Bitcoin. The $11 000 Bitcoin price high must have shaken their arrogance and believe that they would always be on top. Make some space boys, Bitcoin is here to spoil your exclusive <invite only> party. ^smile^
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Do you really expect any other response from people who has 100% of their wealth invested in Fiat investments? If someone comes to you and you have 100% of your money invested in say Gold, would you promote something else that would hurt the value of your Gold investment? < remember, you want other people to invest in Gold, for the value of Gold to go up and for you to make more money >
They also have a strong history and vast knowledge on old traditional investments tools and Bitcoin is something new, so they will be apprehensive and protective of this new disruptive and highly volatile commodity. <because they have not experienced this before and commodities with such volatility is labelled as Ponzi schemes in their industry>
The biggest Plaque is the current financial instruments that are misused to enrich the 1% richest people in this world. They will fight to hang on to that power and knowledge.
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10 BTC is nearly $100 000 now, so if you take $300 now and you buy a old second hand computer and printer and use that to create your paper wallets, then it would not hurt your profits, when you cash out in the future. Buy the equipment, download the https://bitaddress.org/ script to a memory stick and transfer it to the second hand computer and then execute the script offline and generate the paper wallets. <print 500 or more paper wallets and then destroy the equipment> STAY OFFLINE Pick some of the paper wallets and divide the 10 BTC into 0.1 BTC chucks and send it to those paper wallets. Find a few good hiding places away from your home or work. <because he might search for them there> and hide it. Job Done. Ps. Leave some paper wallets laying around your house as honey traps <fund with your own money> to see if someone triggers the traps. <then you know someone is searching your house> ^smile^ |
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I can only speak for myself to make my point. I saw the Bitcoin price and Alt coin prices going up and I took some profits from the Alt coins to prepare for the next dip in the Bitcoin price. I know with every Bitcoin price spike, there will be a correction and a massive dip in the price. <so I wanted to be ready for that>
If other people have the same strategy, this simultaneous dip in prices would make a lot of sense. ^smile^
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People link Elon Musk with Bitcoin, because he co-founded the popular e-payment company Paypal. This was a centralized service and the total opposite of Bitcoin. Elon Musk is also a business man and profit driven, so I doubt that he would leave 1 000 000 bitcoins untouched, like Satoshi is doing now. <Yes, he might not need the money, but it would have funded a lot of his current projects>
I like the guy and love what he is doing, but I seriously doubt that he is Satoshi Nakamoto. ^smile^
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I am one of the people who are delighted when the price takes a dive. I see every dump as a opportunity to buy cheap coins and then to sell these coins for a profit, when the price goes up again. I bought after one of the biggest dumps and made my biggest profit from selling these coins. <Bought at $444 and sold some at $8780> Bitcoin Traders love Volatility  - Merchants hate it.  |
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Good luck getting 800%+ interest on your money and sending large amounts with WU at Bitcoin's miners fees. We will welcome you back when Bitcoin implemented the Lightning Network and you have to buy back in at $50 000/BTC
Bitcoin offers us so much more than simply being a commodity. A lot of people see the value of their wealth depreciate every day and they can do noting about that, until Bitcoin offered them a Safe heaven. <The nature of Fiat money>
Bye bye....
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Has anyone calculated how much money it would take to shift the Bitcoin price with 1% in any direction? <up or down>? Can one of the Bitcoin whales comment on that?
I know you have to do this on several exchanges to have a better affect, but I am just curious. We have seen some pretty huge spikes and dumps lately and I am just curious to know what kind of money are needed to manipulate the price.
Let's just have a friendly discussion without going into too much detail and reveal how easy or difficult this is and how much it will cost to do that. < $1000 spikes in the price in one day, must take a lot of money? >
There's is no mathematical formula that can give answer to this question, because it always depends on Bitcoin's market depth. If you are familiar with trading, you know that order book structure looks like slopes with "walls" - so this means that it might be easy to move the price by 1%, but moving it by 20% would require much more than just 20 times the amount of moving it by 1%. But it is also more complicated than that, because orders can be cancelled at any time or the new ones can be placed instantly, and it can make it harder or easier to manipulate the price. Price manipulators often employ additional tactics like spreading FUD, false rumors, using shills and so on. This makes sense, but there should be some "magic" some of money that would be needed to manipulate any commodity or market, depending on it's size. A few years ago {2014} a trader called BearWhale, sold 30,000 Bitcoin all at once at a price of $300 per coin (or $9 million in total) and this halted all progress. We had to break down that wall, to progress further. So there are some "magic" numbers to work with, if you plan to disrupt trade or to halt growth and to manipulate the Bitcoin price. ^smile^ https://news.bitcoin.com/bitcoin-whales-and-how-they-make-market-waves/ |
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