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10901  Economy / Speculation / Re: How many bitcoins do I need to retire in 20 years? on: February 11, 2016, 10:35:18 PM
If bitcoin is around in 20 years then yea I agree.   With that fixed limit and a world growing population you have most of the maths to answer the OP question, 300 btc wont be needed.  Just lasting 20 years proves the concept of BTC has worked well not a failure and so its very much implied the price will be greatly enhanced by a wider spectrum of demand.   I believe over 10k per coin unless it existed purely as an experiment or token currency only somehow (and who with much effort would really bother that long consistently) then Im thinking way higher like 100k per coin, so 10 or 20 coins is fine.

 If it exists 2036, its risen alot no argument in my book as it'll have to fight off considerable competetion from all sorts of technology both legitimate and obviously hack attacks and such like :p  Even its own makers may turn the tables on it sell out and try to beat it, all sorts occurs in time. Time tested as they say
10902  Other / Off-topic / Re: Why would customers use Bitcoins? on: February 11, 2016, 10:26:14 PM
I came to figure out, why would a consumer/customer use Bitcoins?
You have to pay the 3 cent fee, while you dont have to pay anything when paying with a credit card.

So what is really a benefit for using Bitcoins, customer wise?

This is a myth, credit cards are really not cheap.  Ask any shop owner, the fees to him can be anything upto 5% of his sale.  You might say, well screw him as its not costing me; but where does the retailer get that money to pay credit card companies.   Its you who gets charged either directly, honestly or in charges to the retailer who then will bump up the price to cover the cost.

Same deal goes for sales taxes, same for any tax on a company and the president is about to introduce another tax on gas.  The argument is again I wont charge people who pay petrol, I'll charge the oil company.   The tax will be passed onto the buyers which is anyone who uses petrol, no doubt about it.  

Bitcoin is super cheap compared to any normal money exchange especially anything across borders using foreign exchange routes normally
10903  Economy / Exchanges / Re: how does LocalBitcoins.com work? on: February 11, 2016, 06:33:39 PM
Ive used that site before, its well established.  The site handles the escrow afaik and both of you must confirm you are happy for money sent to proceed.   Not been there for a while but it seems to be a system that works well off reputation of sellers.  Start with small amounts so you can learn first hand and dont break the rules given by the site for your own safety
10904  Economy / Speculation / Re: That is it. Bitcoin is totally unpredictable. This market is fake. on: February 09, 2016, 05:13:19 AM
Everyday nearly 2 million BTC is traded on Huobi which equals to 740 million dollars with current BTC price.

740 million dollars. On a single exchange. In a single day. I don't know how can you guys who say it's not fake can explain this but it doesn't look real at all to me.

Well size aint everything.  Throwing virtual figures around the confines of an exchange computer like a squash court is not the best demo.    Maybe if you want to compare it to flash trading computers done on NYSE it might make sense, they own each Company stock maybe $100,000 or more for less then half a second, then they sell it.  Then they buy it again 1000th of a cent cheaper, then sell it again.    Does this convince me of that companies strength that day, no doesnt really mean anything except noise
10905  Economy / Economics / Re: Will You buy a pizza at 10,000 sat? on: February 09, 2016, 05:09:21 AM
This would be a pizza for dolls, about the size of a pinhead :p   You could have more then five if such a micro transaction were possible Cheesy
10906  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] BlackCoin (BLK/BC) | PoS | No premine | No IPO on: February 09, 2016, 05:03:17 AM
It would be difficult to do in a safe way as your private key is needed to mine a block. The simplest way to increase regularity is to… buy more BLK. Wink
Mine hasnt staked for weeks but its a really iffy wifi connection thanks to big old house walls.   Does it matter much if it reconnects a few times a day, not sure if connectivity or bandwidth would effect it

That node stuff should go in code tags (or any big quote tbh) btw, less spammy

Code:
addnode=51.174.4.48
addnode=58.96.109.62
addnode=65.128.89.198
addnode=67.159.44.16
addnode=68.109.141.22
addnode=70.173.209.163
addnode=71.193.197.252
addnode=71.231.212.28
addnode=72.235.129.99
addnode=72.51.206.122
addnode=73.201.180.47
addnode=73.240.78.63
addnode=73.76.100.141
addnode=75.25.49.32
addnode=76.167.253.74
addnode=76.85.157.237
addnode=78.193.40.205
addnode=78.50.28.65
addnode=82.69.45.247
addnode=83.11.70.145
addnode=83.151.14.32
addnode=83.20.235.177
addnode=83.218.221.166
addnode=84.245.31.174
addnode=85.25.202.57
addnode=85.25.217.233
addnode=86.170.133.74
addnode=87.106.215.215
addnode=87.145.67.40
addnode=87.79.93.124
addnode=88.114.98.106
addnode=89.163.246.146
addnode=89.164.106.39
addnode=91.121.120.218
addnode=92.228.121.210
addnode=92.247.168.86
addnode=93.159.113.254
addnode=93.208.212.137
addnode=93.79.187.183
addnode=93.84.194.32
addnode=94.193.85.108
addnode=94.254.57.158
addnode=95.84.198.196
addnode=95.90.248.40
addnode=99.122.4.110
addnode=99.184.252.232
addnode=99.239.178.205
addnode=107.6.4.145
addnode=109.146.218.209
addnode=109.182.144.114
addnode=115.230.125.106
addnode=121.199.75.170
addnode=124.148.165.165
10907  Economy / Services / Re: ❃❃ ▶▷ BETCOIN.ag ◁◀ ❃❃#Signature Campaign-High Pay, Monthly Bonus, Special Award on: February 03, 2016, 02:37:29 PM
I would like to join Your Signature Campaign - Stage 4,

waiting from last month, this month i think you will add me.


I would also like to join stage 4, Im not sure if I'm to reapply or not but just in case yes please
10908  Economy / Economics / Re: Economic Devastation on: February 01, 2016, 07:43:39 PM
By observing we alter the results.  Thing is the FED thinks it can manipulate the economy successfully and so change natural events but I believe they are ultimately merely going to observe a return to the mean despite their best efforts.      I think we follow highly predictable patterns even after all our changes through the years we remain basically the same in human activity though it might be as complex as a fractal the economy does still follow the same principals laid down hundreds of years ago which wasnt our invention really just conclusions on the natural flow of business etc.
Apologies if I misunderstood the point and I understand humans can defy gravity but they dont stop it being a consistent force and I think economies follow similar practise
10909  Economy / Exchanges / Re: BTER.com hacked| 7170 BTC stolen | DON'T KEEP YOUR MONEY ON AN EXCHANGE | on: February 01, 2016, 04:27:19 PM
Now also cryptsy was hacked , what the hell !!!!
We have no way to go I start from CryptoRush then Pmtocoins then Mintpal and Bter now Cryptsy all are hacked and gone we cannot do any thing just give them money

Yea unfortunately the whole concept of centralised storage is flawed.    It keeps falling over for that reason, I mean its partly down to the people running it not expecting to fail with extreme safe guards required but also the users should know the site is a target for hackers like a virtual fort knox.  Except the real fort knox is set in an army base

Quote
I hope Blocks and Chains Decentralized Exchange gets to launch soon so exchange hacks would become a thing of the yesterday.

yep
10910  Economy / Service Discussion / Re: selling game accounts for BTC ? on: February 01, 2016, 04:22:06 PM
In any case it would rely on trust for the deal or escrow.   Ive tried to sell steam accounts here with 10 games but not much interest, nothing high value just games Ive completed basically.

If people mention what they want I can at least check if I have it spare.  I imagine others are out there similarly
10911  Economy / Exchanges / Re: FREE Virtual Bitcoin Card From E-Coin on: February 01, 2016, 04:11:28 PM
So anyone regularly used this card, want to tell me how useful it is.   Im interested in the fees and usability of it all, mostly at the moment I use bitcoin to buy computer parts as those stores are most friendly to the idea but this card allows use anywhere or just ATM ?
10912  Economy / Service Announcements / Re: Cryptostocks - BTC,DVC,LTC denominated Stock Exchange/Crowdfunding Platform on: February 01, 2016, 04:03:05 PM
I dont suppose anyone could ask they change this requirement
>> BTC: Minimum withdrawal is 0.02

I should be glad I havent much to lose, but overall I havent much ! to begin with :0

Its ok, most of the money was tied in the main stock crytpsy so its not much of dilemena at present just an unfortunate loss Sad   I did sell some ages ago to cover this scenario so I hope did everyone else
10913  Economy / Scam Accusations / Re: CRYPTSY stopping withdraw locking accounts without notifying users! Class Action on: February 01, 2016, 03:27:49 PM
The Chinese are a nation that extract the vital organs of their political prisoners when conducting an execution, they waste nothing when extracting value from their population.  Its not a country I would choose to flee to with any amount of wealth hoping for security especially as a foreigner, all it takes is some allegations and a show trial and the above fantasy conversation could become disturbingly more real then the joke its supposed to be

http://www.dailymail.co.uk/news/article-3030037/Livers-kidneys-corneas-removed-11-000-live-political-prisoners-WITHOUT-anaesthetic-year-China-claims-documentary.html
10914  Economy / Economics / Re: Bitcoin or gold? on: February 01, 2016, 03:10:35 PM
Well you follow Ron Swanson's example: hoard as much gold as you can, bury it at an undisclosed location, and then move in the woods and live off the land in a cabin.

Most people cant cook wild herbs or grow them for that matter, cant hunt well, dont know how to preserve food so it wont spoil.  Dont have carpentry skills, gold gives zero help with any of those things.  Plain steel or iron or a bit of flint even would rate as more valuable.    

What we can say is gold is extremely useful as an exchangeable reliable non degradable store of value.  Ron Swanson is awesome and skilled but he has no use for gold stuck out in the woods, as he is a libertarian I think he'd acknowledge value is determined from production mainly.   In the modern world we trade everything across the world so we have become alien to the source of the products we use everyday, we have no choice now and the woods or hoarding wealth would cause the nation to starve.    
One of the mistakes in the 1930's was to close off or reduce drastically international trade so its kind of a real problem even past hypothetical gold hoarding.   (lost trade causes costs to be raised for both the seller and buyer of those goods I think)

Same applies to bitcoin, actually the people who do nothing with it and take no part in bitcoin trading or exchanging are not helping building value at all.  If all people did this, the value would be zero whereas if all people do a useful or unique production and sale in bitcoin the value can be considerable.  The only time hoarders are useful is when they spend or when they earn the original gold or bitcoin, if they earn and produce everyday then I wont argue because that is useful but if stuck in the woods its not helping anyone else so Ron Swanson hopefully wouldnt do this :p

tl;dr Swanson is a trader not a hoarder (from my brief viewing of his tv series)

10915  Economy / Speculation / Re: How many bitcoins do I need to retire in 20 years? on: January 31, 2016, 07:58:15 AM
So if the bitcoin price becomes $200,000 in 20 years, 20 bitcoin will make our retire life very happy.

Theres a super important point people keep on missing.  Everything you buy in 20 years will also cost more, dont measure your world in dollars which is basically political currency based around Washington.  Its unlikely the world will be determining prices in the same way then, the big upheavel with oil regimes recently being one example.  They'll issue a ton more dollars to pay the governments bills which means everyone will have 200,000 of them in 20 years without much effort
10916  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] BlackCoin (BLK/BC) | PoS | No premine | No IPO on: January 31, 2016, 07:36:04 AM
Going low but looking at the chart I see its risen alot recently and is just retracting some of that gain.   It does depend on what time period you consider most relevant.    If the chart is right then most of the volume was on the rise which is very bullish for the future.   But I dont know the market overall just going on wisdom showing bittrex.   The biggest rises are probably related to dollar, yen and rates altering like Japan just did but thats just my take, Japan is related to China money flows a fair bit afaik
10917  Economy / Exchanges / Re: Is the Cryptsy 1000 BTC bounty legit? on: January 31, 2016, 07:25:40 AM
Its legitimate in that it would be extremely hard to be in a position where you could claim it.   Problem is you will get zero for your work if you only do 90% of the work, without recovery of the coins then there is nothing to pay you.   Its not just this case, its often how rewards go but maybe someone knows how to easily get it back but its unlikely and yea just for publicity I guess though I'd offer the same if I were in the same position
10918  Economy / Economics / Re: Bitcoin or gold? on: January 31, 2016, 07:18:48 AM

People with IQs under 100 (roughly half the population) can deal more easily with gold than with Bitcoin.

Gold and Bitcoin have different attributes.  They play in somewhat different spaces.  Their "price vectors" go in different directions. 

Own both!
I dont really side with elitism and if bitcoin is at all with that line of thinking I dont believe it will propogate like it has to and so will fail.   Bitcoin has to be idiot proof easy to use by anyone any place really, gold should have no advantages on this aspect and if anything be more liable to loss from its innate physical risk
10919  Economy / Economics / Re: Bitcoin or Gold? What would you pick? on: January 31, 2016, 07:13:22 AM
You arent supposed to make money from gold but you can certainly save money which if you already have a job that should be your aim to some extent.  Investment means risk and the whole point of saving really is to minimise and accumulate your hard work into reliable wealth for your old age.   This forum is probably age biased towards the younger more risky venture outlook type people but at some point in your life your outlook will swing to security and usable (liquid) wealth which is gold, not earning but securing your previous good work.    

That aspect to the monetary world is invaluable, its power to decide the world is immense because there is so much money running scared from any risk and will run a mile from things like bitcoin at least at the present time.   The FED and others will try to argue saving is destructive and contary to healthy economy, this really is such an extreme view and now its common.  Japan recently switched to negative rates, we in the 1st world economy are down the rabbit hole
10920  Economy / Economics / Re: Bitcoin or Gold? What would you pick? on: January 30, 2016, 05:31:20 AM
^^ The point there is people dont believe gold is freely exchangeable.  Of course it is but only really in quantity.  A bank trading bar is like a kilo and a heck of a lot of money.   The money we are talking about as the common people right here on this forum are really thinking wow a few hundred is alot of money to me right now and I want a good trade price and low fees.  Bitcoin can do that because 300 hundred is still alot in bitcoin terms but in gold its the bare minimum not to get laughed out the jewelers pretty much.  If you go to a pawn shop and for smaller amounts then that, they will basically politely rip you off with fees and/or a bad trading price for the spot fix on gold, bitcoin is small more competitive and more applicable to the small dealers we all are here.
  Apologies to Mr Big the millionaire playboy who randomly reads this thread but somehow gold is more suited to him and most of us here will likely complain about gold and its difficulties.  Iam pro gold generally but not in a persons pocket, generally government or some reliable authority should make it divisible and transportable by proxy such as the perfectly working system prior to 1913 Fed day 1
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