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I guess I'm lost. Why would you want governments to support Bitcoin? I thought Bitcoin was the big anti-government anti-fiat rockstar that was going to help libertarians take over the world. What changed? Did I miss a meeting?
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This forum is so entertaining.
Roger Ver - Bitcoin Jesus Angel Investor -> Roger Ver - hated dumbass
Gavin Andresen - Lead Dev Super Special Bitcoin Foundation Paid Coder God -> Gavin Andresen - hated dumbass
Mike Hearn - Google Engineer to Bitcoinj's Dev Daddy and Bitcoin Super Core Coder -> Mike Hearn - hated dumbass
Charlie Shrem - Bitcoin Entrepreneur and Super Promoter -> Charlie Shrem - Inmate
James McCarthy - GLBSE Operator, first international trip using only Bitcoin, forum moderator -> James McCarthy -> Illegal Exchange Operator, Thief, hated dumbass
Erik Voorhees - Super Bitcoin Promoter, Super Dice Blockchain Spammer, IPO God, BirdFeeder and Exchange Operator -> Illegal IPO Operator, Scammer, Thief
Peter Vessenes - Bitcoin Foundation Savior, Entrepreneur, MtGox Savior -> Peter Vessenes - Scammer, Thief, Liar, hated dumbass
Mark (MagicalTux) Karpeles - Main Exchange Operator, Revered Bitcoin God, Founding member of The Bitcoin Foundation -> Mark (MyButtholeHurts) Karpeles - Largest Thief in Bithistory, Scammer, Inmate, despised dumbass
And On and on and on and on and on
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People here have claimed that Bitcoin is in fact controlled and ruled by China, as mining is centralized by Chinese mining institutions.
Do you think that China is controlling/ruling bitcoin yes or no?
Long long ago,when china had huge mining farms and people didnt know much about bitcoin, chinese were easily able to manipulate bitcoin market by dumping their bitcoins.But not now as more people all over the world have realized bitcoin's true potential and due to PBOC regulations,the chinese were now unable to create fake buy and sell orders and they even could not withdraw their bitcoins from exchanges.Dragon era is not alive now. to me i think still china has the huge mining forms and more investors than any other country but still i will like to say that they are not controlling bitcoin. as bitcoin is present in all over the world and the users of bitcoin are increasing from time to time therefore it is now becoming more difficult to manipulate the price of bitcoin or to control bitcoin at all. Really? Mark Karpeles proved that one guy and two bots can manipulate and control the worldwide Bitcoin exchange rate. Isn't it curious that currently Coincheck in Japan (last known home of Mark Karpeles) has double the volume of the next two largest exchanges. Isn't it funny that Coincheck became the largest exchange in the world right about the time Karpeles was released from prison. Wonder if he started giving pointers to the Yakuza (Japanese mafia) in prison to keep the number of ass rapes down to a minimum and they helped him restart the old business with stolen bitcoins. LOL |
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JayJuanGay  Bitcoinz - Bitcoinz - Gggooooo Bitcoinz yea Bitcoinz
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Due to the nature of bitcoin it's kind of impossible to know how many people use it.
It does not really matter how many bitcoin users there are in the world, I think that due to the fact that bitcoin supply is limited all we need to know is how much bitcoin there is left to mine. At this point there are over 16+ million bitcoins circulating in the internet and the supply is limited to 21 million for 100 years and we already got more than half of it in less than 10 years, so imagine the more users who will come in how thing will change. The number of bitcoin users is always insignificant, what really matters is how many bitcoins you hold. Go for it right away ! You read the "mined to date" number of bitcoins without subtracting the non circulating bitcoins from that total. You do realize that Satoshi has over a million btc that never moved even once? Now you're at 15 million. Take the MtGox loss and the known burned coins and you're at 14 million. Take all the large long term investors that are holding coins out of circulation and it's at 13 million. I read a well written article that calculated the true number of bitcoins in circulation at between 11.2 and 12.5 million. It's very possible for all of the bitcoins to be mined into existence and only have half of the designed 21 million in the end. |
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It is nice to see these old thread and see what people thought back in the day, for me it is difficult to imagine a time where bitcoin was only worth 10 dollars but I know that is true, also it is incredible how right the OP was about prices I hope he still holds his bitcoins and keeps getting richer thanks to it.
Give it time. It will be worth $10 again. LOL! I guess it would not be possible again, we will not see another big downfall because bitcoin has matured through time and more and more people are accustom with bitcoin which is hard to imagine the opposite result of success. I agree that we will not be able to see that big dump on the price because bitcoin is getting more even stronger now and the price is always going up and that is the sign that bitcoin is now unstoppable and it can't be that easy for bitcoin to be dump because it needs a lot of money and bitcoins to do that and no one will ever do that because everyone always want profit. Never assume anything. I thought it couldn't happen too when the bubble popped all the way down to $2. I'm hoping all of the big block-small block bullshit causes a massive crash and we can buy back in cheap and do it all over again. It would also be nice if it was discovered that a couple of the Chinese exchanges were faking the price like MtGox was so we can do it all over again. If the price pushes too high only the dumbest traders will stay with Bitcoin. Remember, if you invest $100,000 in Bitcoin and the price is $10 it only needs to rise to $20 to double your money to $200,000. If you invest $100,000 in Bitcoin and the price is $5000 it needs to go to $10,000 to double your money to $200,000. If you were an investor, which playing field would you rather buy in on? |
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No, there would not be enough subunits of bitcoin even after all of them have been mined. Many bitcoins have been burned forever but if all of them still existed at the time they were all mined there would only be 2.1 quadrillion. The M-1, M-2 and M-3 tradable assets (down to the smallest subunit, the penny) for the U. S. alone is greater than 2.1 quadrillion. The world derivatives market alone is believed to be worth roughly $1.2 quadrillion (that's 120 quadrillion pennies). Add every nation in the world together down to the smallest subunit of those currencies and you'd need 50 crypto currencies like bitcoin to make it work.
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It is nice to see these old thread and see what people thought back in the day, for me it is difficult to imagine a time where bitcoin was only worth 10 dollars but I know that is true, also it is incredible how right the OP was about prices I hope he still holds his bitcoins and keeps getting richer thanks to it.
Give it time. It will be worth $10 again. |
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Meh, they don't need to have proof of anything to give negative trust. I have done nothing to anyone, never traded, never sold anything, never been involved in any trading thread, so no proof can be found but I got a negative trust. It's proof that the system is meaningless. It can be gamed in both directions. I don't trust the positive reviews either.
Feedbacks you received ? Does that reflect on your normal trust? I don't think so and it will not until the one's from untrusted feedback gets into DT2 or higher or you receive someone from who is already in DT2 or higher. However you can still PM them about to reconsider their feedback. Because I don't trade here, I don't care enough to PM anyone. I don't really care if I have negative or positive feedback. Stephen Gornick and I had a lengthy debate about five years ago on the use of escrow and trust networks to solve the basic issue of bitcoins biggest flaw, the lack of charge back ability. PayPal is huge and trusted by consumers because they are protected. Bitcoin has absolutely no ability to make customers feel safe while making a purchase and trust networks simply don't work to fill the void. It will be almost impossible for bitcoin to overcome that flaw without the help of a centralized third party solution. |
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Meh, they don't need to have proof of anything to give negative trust. I have done nothing to anyone, never traded, never sold anything, never been involved in any trading thread, so no proof can be found but I got a negative trust. It's proof that the system is meaningless. It can be gamed in both directions. I don't trust the positive reviews either.
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In my opinion, the the most accurate (almost) number that we can get is from exchange that asks for ID and probably ATMs (whether the ones that require phone verification or ID).
Blockchain.info claim that they have 10 million users but that's far from being accurate since bots should be taken from consideration, people who lost their wallets and made other accounts etc...
We know there are currently 12.5 million bitcoins. We know that there are dozens of whales like the winkledouches, Roger Ver, Loaded, and so on that own 100,000 or more bitcoins. We know Chinese investors are buying and hording btc. Based on all the user data you can get on this forum about lost btc and scammed btc I would reduce the total number of btc in circulation to under 7-8 million. Divide the supposed 10 million users by the number of coin left means the remaining people can only have $900 in btc at once. That means no major spending, no paying of major bills, each person couldn't even afford a small bag of marijuana. Combine that knowledge with the known daily transaction data of 350k and you realize there are far fewer people using btc than you think. If you consider "users" to mean people actively buying and spending btc like people spend fiat then it's very likely the number of users worldwide is below 500k. |
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Note that Satoshi only mentioned "nodes", not miners!
Satoshi did not make the distinction. His vision was that all full nodes are miners. Ordinary users will be SPV clients. Right, in Satoshi's day, the client software was the node, sent and received coins, and mined for blocks using a CPU. |
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Yeah, 70,000 garbage, no-fee transactions by tumblers and gambling sites.
The tumblers can go to hell. Bitcoin is not supposed to be Mastercard. It is a settlement system for people transferring significant amounts of money, not jokers buying sandwiches and playing nickel slots.
You might want to read Satoshi's Whitepaper again. Start with the title: "Bitcoin: A Peer-to-Peer Electronic Cash System". Premined and hardforking altcoins are rising, because Bitcoin is being limited by "the ones in power". "The ones in power" Think about that statement for a moment. If there can be anyone or any small group in "power" Bitcoin is a failed experiment and no better than any centrally controlled fiat, Visa, or bank account. In fact, it's much worse. Fiat, Visa, and bank accounts actually work pretty well. |
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Yes, I'm especially pleased that India is driving the bitcoin market.  Can I haz some bitcoinz |
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The Russians never stop scamming
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Is it the beginning of the end?
Will Roger Vers' FUD cause a price drop?
Will Dash and the other alt-coins absorb the incoming fiat currency and cause the downfall of our beloved Bitcoin?
Find out on the next episode! Same Bat-time, same Bat-channel!
 These "blame game" soap opera threads are such utter bullshit. |
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"Legally" he's allowed to use it?
Yes. He owns the patent in China. Deloitte legal case involving a Chinese patent: Clients in Japan have informed me that machine translations of their national patent applications have been filed in China on the day of the Japanese publication. Any general assessment of the validity of national Chinese patent filings are pretty much meaningless. Chinese patents are not worth the paper they're printed on. This is Bitcoin partner. Youse gonna havta do better than dat.  |
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Price bouncey time
 Dunt - dada - da - tada - tada - let's dump this
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There is proof that He is still using AsicBoost. Jihan Wu, in my and many others' opinions, is a dirt ball.
Legally, he is allowed to use AsicBoost. Why do you feel he is a dirt ball? "Legally" he's allowed to use it? ROTFL Yes, according to the Bitcoin accords signed in Marseille and ratified in Geneva he can use it. LOL There's no rules for Bitcoin. It's every douche for himself, slickest scammer wins. |
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They want to use Bitcoin to stop illicit money from flowing out of Russia? Isn't that like using a strainer to hold flour? LOL  |
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