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I'm sorry for everyone who lost their funds in BitFinex. You do not deserve this and the owners of the exchange must be investigated. I have a gut feeling this is another inside job. This could Gox happening again.
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this is the best time to buy bitcoin right now, if you are looking for profit. although it is better that you wait a while for the bottom and buy then, but anything around this level is a good profit.
No it is not. We do not yet know where the bottom is. What if BTC will fall further? This is a very dangerous time to buy. It is much safer to observe and then patiently wait for a good time to buy. |
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for about a month the price of bitcoin was stable and everyone was very happy with that and people started to believe for putting all of their money in bitcoin, and it was considered that it will be the next global currency, but now a bigger dump has started, and I think that dump is dangerous for the better future of bitcoin and its continuous happening will deny bitcoin from it success.
The dump is ok there is nothing wrong with it. That comes in the territory if you are actively trading. The reason of the dump is bad. Another exchange hacked and the coins are dumped. There are other stories that BitFinex was insolvent in the first place and the "hack" is just for show so that they could get out of a bad situation. Whatever the reason is BTC will be in the spotlight again with the media giving it a bad reputation again. |
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Is this true? " Another obvious reason they've been insolvent for a long time is, a guy I know from one of the trading channels I'm in (Expanse dev - not franko, the other one) tried to make a 100 BTC withdrawal from Finex like five days ago and what happened? Finex canceled his withdrawal, gave him some bogus excuse, put his account on hold, and refused to let him take funds out." An exchange has no right to hold a person's BTC if he wants to withdraw it. I am wondering what the excuse BitFinex gave is? |
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Long term bullish picture looks good. Need wait until december. I like these arcs so far. However need some more downside...  This is nice if it will happen as plotted in that chart. But usually that is not the case. We often see that the unexpected happens that's a lot of traders lose money in trading and investing. If the hack did not happen how would you plot the chart and would have foresaw the massive drop happening? I believe the answer will be a "no". Staying below $600 until the end of the year is a possibility here. I wonder how that will look like in the chart. |
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It really depends on what you want to happen and what your strategy is. The ones who sold are probably either miners of big mining farms or traders selling for a profit. This means that a buyers market is coming for bitcoin because the price will be at bargain levels. Keep observing the price movement and try to see where it will be stable after the fall. Like I was saying before this will stay at under $600 for a while. Maybe even until the end of the year.
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I was thinking that every bitcoiner wants a world without fiat, only bitcoins. Ok, if there was no fiat whatsoever, then where do you think will bitcoin base its value? Will it be in gold? But how much?
How do we determine the real value measure of bitcoin in an economy that has been very dependent on fiat?
If every bitcoiner wants a world without fiat then no sense to have it an exchange value to other money system. Just use the usual bitcoin transactions where value is 1:1. That is where my question lies. If the value is 1:1 then how much will I pay in bitcoins for example a desktop computer? Also how much bitcons will the merchant accept as payment? If I pay 1 BTC, will the merchant accept it? How will we know if we use 1:1 as basis? |
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I use it mostly as an investment. But I would not mind buying some stuff for bitcoin if I see it online.  |
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You just need a regular desktop with the fastest CPU you can afford, water cooled and overclocked. Make sure the mobo supports OC and everything else can be stock. And of course use the miner in my sig. Thanks for the assistance. What I am planning to test mining on is https://z.cash/Right now I think it can be mined only be CPU. They have a testnet and I would like to play around with mining there. Do you think it will switch to GPU mining later once a mainnet is already set up? I have noticed that most of the POW coins started with CPU mining then GPU mining later started. I have also read that the zcash developers want it only to be mined by CPU only. Is that possible? Do the coins mined on the testnet have any value? Like can they be traded for real coins after launch? I do not think so. But I want to gain experience in mining and I want to start with zcash because I think it will be the next big thing in crypto. If that will not happen then I am glad to support a project that I believe in after bitcoin. As for the botnets, he means hackers that control large amounts of hacked computers can then use those computers to mine the coin. Since hackers don't pay electric they can mine for free since they stole access to the computers. usually coins that can be mined easily with cpu make it hard for people to mine profitably with their own computers since they are competing against botnets with free electric. The 8gb ram would make it harder for botnets, users of zombie pcs that have been hacked are much more likely to notice there is something wrong with their computer. GPU mining usually eventually becomes available for all algorithms even coins designed to be CPU only. some algos like those on minergate for Monero the GPU doesn't have a real big advantage over the CPU in terms of efficiency, watts/hash. So this makes it more of a level playing field and the coin can be mined by both GPU and CPU. So it's possible that even when someone makes software to mine zcash on a GPU that it will won't kill CPU mining, they'll both coexist. minergate is pretty good, especially if you're new to mining. joblo's miner cpu-mineropt is also great it can mine a ton of different coins. I'd be willing to bet both minergate and cpu-mineropt both have zcash after it's launched.  As for hardware get a regular desktop motherboard and the most expensive CPU you can afford. When picking out a motherboard I'd look for one with extra PCIe slots so if GPU mining becomes available and you want to add graphics cards you have extra slots to add more. If you really are investing in a mining computer just for mining this motherboard is one most people use because it can hold up to 6 GPU http://www.newegg.com/Product/Product.aspx?Item=N82E16813157528A great site to pick out parts making sure they are compatible https://pcpartpicker.com/Thank you very much for all the information. It is truly appreciated. I will research more on zcash algo and I will ask further questions if there some. |
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I was looking at https://blockchain.info/address/1Fd8RuZqJNG4v56rPD1v6rgYptwnHeJRWs Stefan Molyneux's bitcoin adress : Total Received 652.94530317 BTC Final Balance 521.24590891 BTC He accumulated quite a lot of bitcoins through donations, it will eventually buy a lot in a few years and it is incredible. Do you have other stories of people accumulating large amount of bitcoins without investing any fiat ? How did he accumulate all that bitcoins thru donations? What kind of service is he running. It has to be something very useful. No can just beg online and be given that much bitcoins. |
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I've heard people mentioning that Ethereum won't be profitable for much longer. If so, what would the next likely altcoin to mine be? Also, what would be the best rig for a beginner miner be, in regards to an asic vs gpu setup?
I think zcash will be the next big POW altcoin. It is developed by a good team behind it. I also have been looking for more information in crypto mining and it would be nice to be pointed in the right direction. Profitability is not my goal for now but I would like to gain experience in mining. |
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If a coin is mined via CPU only what set up will you recommend? Please give me all the details, specs, name of brand and also the price. Thank you very much.
No CPU can make a profit. Botnets will take it over. Such an amateur mistake to launch a "CPU only" coin. But I have read that the zcash team will require 8GB of RAM to to prevent botnets from taking over. I have no experience in mining so I do not know what the effect of more RAM is in mining. Can you care to explain this more? |
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i had about $200 worth of bitcoin.
How can i earn more with that amount?
should I trading? or make an investment?
and please give me some trusted site to investing my wealth.
**i dont want to give a loan, or else.**
if you had some advice, feel free to tell me.
really apreciate it.
thank you.
For only $200 it is better to keep it. Find a job that will make you earn fiat and buy bitcoins with it. Also I advice that if you want to buy bitcoins with your fiat savings always wait for a better price for bitcoins. Like right now it is going down. Wait for the bottom and then buy. |
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I was thinking that every bitcoiner wants a world without fiat, only bitcoins. Ok, if there was no fiat whatsoever, then where do you think will bitcoin base its value? Will it be in gold? But how much?
How do we determine the real value measure of bitcoin in an economy that has been very dependent on fiat?
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Based on the market price trend graph, bitcoin has shown signs of price decrease, as of the moment an alarming decrease has occurred and for two days already it slowly showing the falling movement.
Is this the sign that bitcoin will unfortunately going to continue to go down. This seems a bad news but we hope that it will go back.
Will it go up or fall down more.
It will go down more below $600. But do not see this as bad. It is actually good because more and more buyers will become interested again. Right now this is a seller's market. The price is high and there are not enough buyers or demand to bring bitcoin further up. |
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We have never seen any panic dumps that have resulted in the obliteration of bitcoin. I don't think it will be the end of the world. It is actually good for bitcoin to go sun $600 and stay there for a while. It needs to be accumulated by the ones who are not willing to buy at +$650.
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Just as I kept on saying. BTC will go down below $600 and it will stay there for a while. No one is willing to buy it at high prices so it needs to go down and be accumulated for a while. If you are a buyer then this will be good news for you.
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I can't find anywhere on that forum any GPU miner. The launch is in 1 month, wonder if one will exist.
This coin will be BIG!
This is what I think also. It will be big that's why I am making research on what hardware is good for mining it. Right now it is on testnet. As I understand it is mined by CPU only. So I need help on what hardware to use. |
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So what percentage of your total monetary and financial investments are in Bitcoin?
What do you think is a smart balance to have?
I do not know exactly how much I have in bitcoins compared to everything I have. I can say that I have been saving 15% of my salary every month in bitcoins instead of saving it in a bank account. I have been doing this for 6 months now. |
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Everyone was expecting a very high price increase during the block halving period. But nothing happened, the price left hanging at the same price range. What happened, are you expectin that it will maybe rise soon?
Now that it is 2 weeks after the halving we can see that it has no effect anymore. Rewards for miners are cut in half but the price remains the same. No one is speculating anymore that it will go higher and more and more people are waiting for it to go down and are placing their buy orders at lower prices. Bitcoin will go below $600 slowly and will stay there until the end of this year. So it is good to wait and buy more at lower prices. |
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