Here's Warren Buffet demonstrating once again why he has to be ignored when it comes to anything that has to do with technology: http://www.youtube.com/watch?v=nrSB1sLgWLEWould you trust your grandpa in how to operate your computer? Same shit. |
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Bitcoin already hit $1k. Many people cashed out. My sympathy is with those who bought at $1k while listening to the frequent posts on this forum that were promising $10k or more by the end of 2014. Heck, there were numerous posts asking when we'll see a million dollars per bitcoin, with the only question being whether it'll be 2020 or much sooner.
Yeah I remember rpietila predicting 1 million before 2020 or something along the lines lol. In any case, if the guys that bought at 1K were to hold for the next 5 years, they would end up winning, but I doubt they'll have the nerve to do so. |
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The irony on all of this is that all money is debt if you think about it, so it basically means if all debt were to be paid, there would be no money available.. kinda of a mindfuck. Currency nowadays is just a mere money token, or coupon. Real money is gold and silver, and Bitcoin is the new real money. If the debt stops growing, the world's monetary fiat ponzi implodes.
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I guess it is more beneficial in the long run to be a bitcoin millionaire than a fiat trillionaire  Bill Gates wealth did not grow that fast over the recent years right? He still has a long way to go.. Well that depends if bitcoin will end up where it belongs, or it's going to be beaten off by banks and givernment. In the case no#1 it would trully be better off with 1 million bitcoin rather than with fiat, since fiat can be(is) printed 24/7 and will continue to inflate, where in bitcoin's case it will always be under 21 million. And if Bill is to invest into bitcoin, he could easily outnumber Satoshi in count of coins. cheers I don't think Bill will invest in Bitcoin, or at least publicly. Im convinced he owns some, not a serious stack (by his standards), but im sure he owns quite a bit compared to all of us. Hell Microsoft accepts Bitcoin, and he has talked positively about it, so im sure he got some. But making it public? Not sure if it would benefit him. Bitcoin has some anarcho-capitalist like features that he doesn't enjoy. |
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Well we are 5 days later and there is no sign of $220, surprising that you and your alts are wrong again as usual. If we dip down in the next month don't forget to come back and get excited.
If we never go below that again and it takes 1 year, he'll come back 1 year later only to tell us "see, I was right". Thats how people like this act like. Best you can do is ignore them and follow other reasonable posters, including those that say it might got to below 220. |
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Anyway OP, if you're still interested in mining with your computer then you could try mining altcoins and converting these to bitcoins using an altcoin exchange like Cryptsy. There are many altcoins out there which can still be mined using CPUs or GPUs. The only ones which have ASICs built for them are SHA-256 based coins like Bitcoin and Peercoin, and scrypt-based coins like Litecoin and Dogecoin.
Agree. In most country, the electricity cost will never make you profit mining Bitcoin. However, mining altcoin might give you a little profit. Well, most altcoin difficulty is lower compared to Bitcoin. Also, instead of mining by yourself, joining a pool might speed it up. If you intend to mine Altcoin and join a pool.. Choose a pool which will automatically mine profitable altcoin and exchange it into Bitcoin for you. It's not because of electricity costs that mining Bitcoin using general purpose hardware is a bad idea. It's because of ASICs. A single ASIC is equivalent to an entire warehouse full of computers. If a coin has ASICs developed for it, then these ASICs are competing with your single computer for the same block reward and because of this, your single computer always inevitably loses. Even tiny SHA-256 coins like Betacoin and Terracoin can't really be mined using CPUs or GPUs anymore in any reasonable sense because the existence of a single ASIC mining on the network is enough to outclass hundreds of CPU and GPU miners. But the electricity cost is always a main factor no matter what. You may have in your power a ton of hashing power, but maybe you live in California or something where rates are sky high, and you never find a return of investment because the cost of electricity is always higher than what you get. But this is not a problem since there are always people that will benefit elsewhere. |
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popcorn
Is there some convinient web page for monitoring attack and state of network, except blockchain.info? is another one that is pretty good. My full node seems to have about 6 blocks worth of transactions in the memory pool as of right now. Should be interesting. My transaction has been waiting for confirmations for approximately 3 hours now. I wish I had seen the warning on this test. And I wish these kinds of experiments were being carried out on testnet. Sheesh, it's not that fun when you're the one who got disrupted by the experimentation. Well look at the bright side. Now the "do not raise the blocksize limit above 1mb" crowd will learn the hard way. People don't want to solve problems until those problems are felt by themselves. |
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If the block reward is maintained at 1 Satoshi after 2140, the value of BTC will not drop. These extra Bitcoin (0.0005256 bitcoin) shall only be enough to account for the lost coin every year.
Why? And why would the price drop anyway? I believe that the reward from the transaction fees will be more than enough. No new Bitcoins needed. The price of a BTC in 2140 will be in the billions, of course the small % one will get from running a node will be enough. Mining and then procesing transactions will always be a profitable business for someone out there. |
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Los Angeles police shoot unarmed man in head – and then handcuff him
It happens everywhere in the world, however in U.S it is bit extreme, even I heard that, U.S Police will not even tolerate plastic guns to be raised on them for play or whatever, there are numerous live captured videos in youtube which shows real cowardly things by few officers. While seeing those live clips, one can ascertain that they have some stress in their life and they take out those stress by doing such cowardly acts. Everywhere in the world? where the hell do you live? in my country I cant remember a single case of a guy getting shoot by the police in the head, let alone being handcuff after that just in case he returns back to life the walking dead style. What the fuck man. |
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Hi, what files do I need to copy if I want to backup the blockchain and my wallet to copy paste into another computer so I don't need to download the whole thing? do I just copy the entire Armory folder in %appdata% just to be safe? thats what I do with Core.
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$560,000 bitcoin with a 3600 daily mining reward means that the bitcoin mining industry alone would be a $735,840,000,000 per year industry. In 2007, the annual worldwide gold production was 2500 tonnes (80 million ounces) worth $54,000,000,000 at $675 per ounce. ( http://www.gold-eagle.com/article/tiny-size-gold-market) So bitcoin's mining industry, after 6 years of existence, would be worth over 13x (735,840,000,000 / 54,000,000,000 = 13.63) the WORLDWIDE gold mining industry. Over 13x. Think about all the mining companies in Alaska, Russia, China, etc. All worth 13x less than the BITCOIN mining industry. That's the kind of crack that we're smoking here. You don't seem to understand the difference between a temporary bubble induced price and a sustainable long term price. It is perfectly possible for the exchange price to rise far higher than the mining costs or drop far lower than existing mining costs. You also seem to be under the delusion that the block reward will be 3600 coins forever when in fact it is falling exponentially. Less crack, more reading old chap. 2. Yes, a temporary spike can go high, but $560,000 is simply too much ground to cover. The bubble would become very fragile by the time it got to the $XX,XXX level and pop long before $560,000. Dozens of people would be becoming paper billionaires and some of them would be smart enough to hit the sell button. not that i agree to this thread, but last year we had 3200 €/bitcoin for like 8 hours on a euro exchange with volume when price was 2xx $ everywhere else. alot of weird things happen in the bitcoin universe! Was that the BTC-E incident? how many transactions actually happened for that price? I doubt it was more than a small spike, or a lot of people bought for 3k+? My btc-e alltime graph wouldn't load for some reason so i cant check it. |
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yes, this is why I stick myself to non-inflation currency called bitcoin.) I hope that others will also realize, how those central banks, manipulating with exchanges and endless inflations harming them..
Non-inflation currency bitcoin? Thee are new coins minted every 5 minutes, and this will go on for another 100 years. Right now bitcoin is a quite high inflation currency, in a couple of years it will become a lower inflation currency, but still not a non-inflation currency. Bitcoin as a non-inflation currency now would be a nightmare. The Tx fees wouldn't be worth mining for, I think I could 51% it with a GPU! So you are basically saying that if you would be still alive in 2140, you could be able to perform a 51% attack because by then Bitcoin will no longer be inflationary? If that's the case, then my friend I you haven't understood anything and should study how Bitcoin works again. |
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the price of the bitcoin now is $ 244 i think still stable on that rate for this month,if going up maybe on rate $244 till $ 250, so hard for bitcoin going up or down with fast right now
Last few days bitcoin isn't stable, the price goes up and down, maybe in the beginning of the next month maybe will increase a bit. If you have been here for long enough, you wouldn't say that 20-30 dollars up or down aren't stable. If you get depression over those bounces, then this is not for you. Strong men survive a loss of 80% and hold through it to meet its long term goal vision, if your mentality can't cope with that you'll get burned. |
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Greece is has been for long a long time now too far over indebted to scammer lenders that demand that THEY run the county. This is the total theme of the troika. Takeover by financial and economic means. Asphyxiation by debt upon debt. They should default on the debt as soon as possible, start printing Drachmas, and being creating jobs and rebuilding its economy, and say goodbye to their bureaucrat bosses.
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If you're looking to just make some quick profit, I would invest in very new altcoins (through mining, preferably) and HODL until they rise. You can make easy profit if you have a good eye on finding coins that will grow quickly.
Yes thats true new altcoin is a great way to earn some profit but it is really hard to do nowadays because you need some time to monitor the movement of its coin, with some slight miss you may have chance to get low profit or may be didnt have chance to get the profit. Need great experience to make sure you will get profit from altcoin Betting that a new altcoin will have a good pump after being dumped by the obligatory initial dump of miners as soon as a coin gets listed in an exchange = total lottery. Sure, you can try to guess what is or isn't worth it looking at the features of the coin, but at the end of the day it all comes down to what the whales are feeling like pumping. Yes I know that is good things to do, but it is not easy to pick or are you saying to get more than one random altcoins then try to hope that my picks will be pump? Is that so? Actually it depends on whales, how can we predict which altcoin will they pump? If we can try to guess it I think its ok to get altcoin if not better not try to or later will lost all of your bitcoin It's literally impossible to know what will get pumped by whales. Usually coins that survive a long time after a pump and have been stable at a low price for months, and those coins having a special feature, can get pumped: Litecoin, Vericoin, Maid, Monero... The "no name" coins are a big gamble because they can get delisted and you end up with nothing. |
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+1 for OP. Bitcoin is going mainstream and i'm gonna enjoy this ride will full glory. Missed the Facebook ore Google train? Well, Bitcoin got much more power than those 2 combined, let's sink that in... If not, ppl are trying to achiev the wrong road.  Most will sell along the way because seeing a lot of zeroes in your bank account feels good, therefore the ones that hold thought all the good times and storms will end up even more wealthy, to the point we don't really need to sell all of it just like no one that has a clue on having a solid portoflio would sell all of their gold if it went to 2K+ |
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No matter how many advice someone already rich gives you, they'll never admit the fact that the most important thing you need to become rich is indeed a lucky strike. You can study an asset and plan an investment for as long as you want, but when it's all set and done you better be lucky. |
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@generalisethis - you asked why TPTB are not fighting bitcoin tooth and nail?
...
I will argue that bitcoin, while it may be suited as a reserve currency, will
do nothing to halt the advance of a kakistocracy. Bitcoin has many similarities to
gold and to other precious metals. These have all failed in the past, for the
reasons given above. The blockchain is the new technology, can we use it to
our advantage?
Since my first post on bitcointalk.org, I have argued for a better cryptocurrency.
This is my constant position, and like you, I am interested in self preservation.
Bitcoin may be the best lifeboat available, but is it good enough?
They are not fighting it because it (and arguably Monero too) are not anonymous. Thus all the incriminating evidence is being piled on to the block chain which they can use to expropriate you in the future. No it isn't good enough, but if you read my posts over the past 2 weeks ( start with this one and read backwards in the thread), you will know roughly what I am working on that is good enough. Thats why I said we can't make Bitcoin mainstream until anonymity features are implemented. Imagine a world with a public ledger where there is nowhere to have any privacy. Right now I wouldn't say Monero isn't anonymous.. i think it's the most anonymous way we have now to do transactions online, but Monero is a small niche, to access it you need Bitcoin first, which defeats the point, so we need to work on Bitcoin's anonymity to not have to depend on some alt. gmaxwell knows this is a serious issue and that's why he's pushing into that direction. The methods we have now to achieve some sort of privacy with bitcoin are pretty archaic (generating addresses each time, coin mixing... that's not proper anonimity). |
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Their absence has been discussed around here a few weeks ago. As far as I could gather there is a mix of lack of interest and short funding for the project... which probably led to a lack of motivation. They'll probably be back soon anyways, or someone will take it from where they left  I don't understand why there would be a lack of interest. If Bitcoin needs something before hitting mainstream is privacy. If people took privacy more serious when they were designing the TCP/IP protocols we wouldn't be in the NSA type mess we are at today and all those big problems could have been avoided. We need more than pseudoanonimity before Bitcoin makes it beyond the geek/VC money circles. |
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Clear your history first then do a full computer virus scan with a good anti virus software. Go to bitaddress.org - Create your paper wallet offline, disconnect from the internet when you create the randomness & generate the wallet. Print the wallet on a dumb printer that doesn't have any access to the internet. I have a youtube video that can run you through it step by step if you want (you don't have to BIP38 encrypt the wallet if you're sure you can keep the paper waller safe & away from anybody). Link - http://youtu.be/872eSnlKUegThis is still not safe. The best way is to do this but do it under a Live OS ideally Linux based, so you are sure that the OS you are doing your wallet creation under has near 0% possibilities of being compromise. |
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