Many people use bitcoin as a currency but there are also as a means of sending money because it is cheap cost
In this case you usually use bitcoin for what?
You will not use the word "cheap" and "Bitcoin" together in a sentence lately. Bitcoin is anything but "cheap" with the state of the Mempool at the moment. We have miners who care less about the network and more about their own pockets and people funding massive spam attacks to fill the Mempool with worthless transactions. Bitcoin is "cheap" when you transfer huge amounts of money, but not cheap for micro transactions. ^sad^ |
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Before the WanaCry malware attack, we were well under way to reach $2000 or more, but this attack stalled that progress. As soon as people realize that Bitcoin is not the threat, they will start buying again. I think a lot of them might have thought that Bitcoin user were targeted and they are waiting for the worst to blow over.
The FUD that were spread in the media, might have clouded their decision making regarding Bitcoin investments. ^hmmm^
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no one get paid yet thats mean its scam  It is 7 days since this thread has been posted by a Newbie on this site and nobody has been paid. Still people participate in this, thinking that they will get paid. Some people do not even follow the requirements as requested in the OP's post and hope they will get paid. ^wow^ Doing any task where Link shorteners are involved are risky on it's own, so I do not know why people are doing this.  |
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I did some maths... and if the number is really fair, the average roll will give 2-3 cents... (If you would roll 100,000 times, it would probably be 2-3 cents average). How is this profitable for you? 2 cents would mean you have to get $20 per thousand visits to have enough money to pay your users... But how does that work? Really... I'm curious... Is it simply because most users lose it all in the Multiply BTC or is it some dark secret you don't want us to know?
The site generates income from several different sources < income from gambling / mining / advertisements > and all of these are used to fund the different payouts. The few Satoshi's being paid to people are but a mere drop in the ocean of the total profits that are generated from the site. < As you said, most people use their Free roll to fund their gambling & lottery ticket expenses > There is nothing sinister in this model, they are just magicians to shift money from the different income streams to fund their expenses. < There is most definitely a science behind running a successful faucet > The Lottery is the only aspect of this site, that might be a bit dodgy. < this cannot be proven > |
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Well, there are options on the table like SegWit < temporary relief > and then Lightning Network < permanent solution > that has to be accepted by the people that are running the Bitcoin software. < Full nodes > Fortunately for us, Satoshi has built in a CONSENSUS system that prevents "bad" people from implementing "bad" code without the consensus from the Bitcoin community and this is currently in process. < They need to decide what solution are the best and signal for the change to be implemented >
To complicate things, Bitcoin Unlimited has also added their suggestion to solve the problem and people now have more options to chose from. ^grrrrrr^ Too many options complicates decision making and slows down the process, and this is possibly a strategy to cripple Bitcoin or to slow it down. < just my own opinion >
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so blocks aren't full? this is temporary? high fees and slow confirmations will go away in a few days?
I'm so sure.
no, i am not saying that. blocks are full, this is not temporary, fees are rising at an alarming rate, confirmations take too long if you are a newcomer and don't know what's what. there is a lot of adoption and it means a lot more transactions are being made but none of that means there isn't also any spam attack. you can't possibly say we suddenly got a massive adoption of users "spending their bitcoin" leading to 200,000 transactions in the mempool and then it plateaued. ok, cool. But the thing is, a lot of people say "oh its just spam" as if that was the primary or sole cause of the capacity exhaustion. Eliminate all spam attacks and the problem with full blocks would have been a non-issue. We are not blind, and we acknowledge that full blocks would most definitely become a bigger problem if no scaling is done, but BTC Core is not sitting back and allowing this to happen. < they actually proposed a solution that has to follow the consensus process to be activated > The BU guys ignore this and say BTC Core developers are holding out on purpose to pave the way for the LN. This is flawed, because SegWit already adress some of the scaling issues with bigger Block sizes. ^hmmmmm^ |
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Just because you have a smart reply to over priced transaction fee's by attacking other systems doesn't trump the fact a problem is occurring.
I didn't mention other systems. Bitcoin is an international wire payment clearing system, and there is no problem whatsoever if you don't try to pretend it's something else and use it for a task for which it's entirely unsuitable. Bitcoin is not, nor was it ever designed to be, suitable for microtransactions.I disagree. Go read this again --> https://bitcoin.org/bitcoin.pdf < Bitcoin: A Peer-to-Peer Electronic Cash System > ~ A purely peer-to-peer version of electronic cash would allow online payments .............. ~ What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party. Yes, this can be used as a alternative to other international wire payment clearing systems, but cash is used by merchants and customers and this is also mentioned in the White paper. ^smile^ |
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We will not see any improvement until these mining giants has made up their mind. They are enjoying these high fees, because they are making a ton of extra money from this current stalemate situation. The developers are following the consensus rules, so we cannot blame them.
Will Bitcoin Die? Most definitely not, but some people might move over to some GovCoins like ETH and Ripple and that is what some people wanted from the start.
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Hopefully before July 1st, we would be seeing some decisions about the SegWit - BU clash. The way the system works right now is kinda absurd, knowing that the number of unconfirmed transactions RIGHT NOW is 78000+ and growing. By then, how could the network possibly handle a volume of probably million transactions every day? It's kinda sadenning that every time something good happens in adoption, a far greater problem is present in the protocol itself.
I dont think we matter. So theres nothing we can say that will change things. You can sell all your BTC and it wont matter because most of us dont run nodes, dont mine and dont develop code improvements for the protocol. We are here holding BTC and hoping to make a lot of money out of it. This is the way Bitcoin was designed, there will always be some people doing the mining and some people running full nodes and then normal users that use Bitcoin. Satoshi even predicted mining farms and centralization, when only data centers and big mining giants will be making the calls in the future. < The secret to the success, is not having 1 single entity doing all the mining, but a bunch of different pools doing this > You can still mine in a mining pool and you can still run a node if you can afford it. ^smile^ If one government dumps a lot of money into Bitcoin mining, most of these smaller giants will be destroyed, but they are buying weapons of mass destruction for trillions of dollars. ^Woop^ |
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I tried to generate paper wallet from https://www.bitaddress.org. I am wondering how to spend the BTC once they are on a paper wallet and how to see the balance of the wallet. furthermore, it generated several encrypted private keys. does it means, it generated several wallets For normal endusers, a wallet is basically a piece of software that manages your private keys, and sums up the unspent outputs that can be spent by the addresses generated by the private keys it manages. That's all there is to it. bitaddress.org generates a private key (preferably encrypts it), calculates the public key using this private key and hashes this one to generate the address. All of this can be done 100% offline. The network doesn't need to know any of this. You can generate transactions whose outputs can be spent by the address on your paper wallet just like that, the network doesn't need any prior knowledge of your address, nor your public key, nor your private key in order to do this. Once the address on your paper wallet has unspent outputs in the UTXO set, you can decrypt the private key on your paper wallet ,and import it into (for example) electrum. Electrum will calculate the addresses, and scan the UTXO to see if there are outputs that can be spent by the address it generated based on the private key. Since you imported the private key into electrum, electrum can now use these unspent outputs to generate and sign new transactions (altough it's recommanded to use electrum's "sweep"-functionality instead...). When you sweep a paper wallet, exactly the same happens: electrum fetches (and possibly decrypts) the private key, calculates the corresponding addres, scans the UTXO to find outputs, then derives a new address from your existing wallet and generates a transaction to use all unspent outputs that belong to your paper wallet as an input and uses the address it got from electrum as an output. IF you are uncertain about what happens, i'd recommand you to generate a testnet paper wallet first: https://www.bitaddress.org/?testnet=trueyou can fund this testnet paper wallet by using testnet faucets: https://www.google.com/search?q=bitcoin+testnet+faucet&oq=bitcoin+testnet+faucetThen you can use a testnet wallet to sweep the testnet paper wallet: https://en.bitcoin.it/wiki/Testnet#Wallets (i'd probably recommand the testnet android wallet, or to install bitcoin core and start it with the -testnet argument) You know this is a nightmare scenario for most non-technical people out there. There must be a idiot proof method to create secure paper wallets < online or offline > and then a way to sweep them into online wallets. We are dealing with people who do not even understand what Bitcoin is and do not care how it works. People will never adopt a new technology, if it is way too technical for them to understand how to store bitcoins securely and how to sweep those coins to be able to use it. |
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But think what will happen if that payment channel is between you and a "payment provider"... and that provider is being utilised by your local cafe, your local convenience store, the book shop down the street, a fast food chain that you frequently visit etc etc...
Yeah...just think... Your payment provider will sell the details of every last purchase you have made to your insurance company, so they can adjust your rates based upon your unhealthy lifestyle. Just like Facebook. I can't wait. It suddenly allows you to be able to make multiple "micro" transactions without the overhead of full "on chain" transactions... you don't need to stand in the store for 4 days while you wait for your transaction to confirm due to there being 150,000 unconfirmed transactions... and you don't have to pay $5 in transaction fees to purchase your $3.50 coffee with all your faucet dusT.
IOW, the same way bitcoin used to work, and would continue to work, we're it not for this stupid, centrally-planned production quota. Again...i can't wait!!!!!11!!!!1!1!1!!! How will they gather this information, if you are running this node? You provide your own payment channel without having to store or share information with anybody? The way I understand this, anyone can host a node, not just specific companies or certain individuals. We are totally open to the same thing, if miners are owned and run by huge corporate entities and/or financial institutions. Who says these mining farms are not funded by the Chinese government for instance? ^hmmmmm^ |
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I would suggest that you stop posting on forums, while you are using drugs. It shows ^smile^
Bitcoin is built on the concept that Fiat institutions and governments should not influence it's value. The open market will determine it's value. < We have seen what happened when they are in control -- Bank crisis and massive bailouts > Bitcoin is modeled after gold, not Fiat currencies. < The developers had nothing to do with that, it was in the original white paper and the protocol developed by Satoshi >
1 Satoshi is still very affordable ^smile^
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You are hoping that people will be honest in their response and that kind of thinking is flawed. People know forums and other surveys are hackable and people with the wrong ideas might hack into these methods of gathering information and then pick targets to hack based on the amounts they have divulged there.
Do you go around and spread information on how much gold and silver you have or how much money you have in the bank on public forums? Why do it with Bitcoin information?
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No, Satoshi thought about increasing the block size few months after end of 2010, but now Core devs and Bitfury are blocking this.
Agreed, but he also made provision for people to use consensus to decide if they want to try other things that might work better. We still have the choice to decide if we want these changes or not. The Core Devs are suggesting another alternative and we need to consider it and then decide if we want that or not. You can also say the BU team is blocking the increase in block sizes, even though that is their main goal for their suggestion, because they are going head2head with what the BTC Core people are suggesting and in doing so, they are slowing what should have been happening naturally as suggested by Satoshi. < scaling on the fly > |
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Bitcoin gives you no more anonymity than cash gives you. So if you use cash, you would be more anonymous than when you would be using Bitcoin. The pseudo-anonymity is necessary to protect your financial privacy and unfortunately some people take advantage of that to commit crimes.
Question : Are you going to shut down the internet, because people use that to spread Randsomware OR that it is being used by criminals? < Unfortunately you have to take the good with the bad in these situations >
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People pay taxes to create and maintain infrastructure like roads and sewerage systems and electricity networks. Now you want people to pay more tax for "virtual" services? In my country rich people are taxed the most and middle class people are basically milked to pay for the poor.
How will your tax structure work? < Rich & Middle class & Poor people paying the same taxes? >
Governments use the tax system to manage poverty and to channel money from middle class and rich people to assist in rendering services to poor people. How will you handle this?
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Cool Konzept! I like such Games  Hope i can see your projekt in life! Some questions: 1) Do you need another programmer to help in dev? 2) What programm language/platform you use for the game? 3) How much investments you need? And will be there Cryptocurrency as in-game money? Good luck with your Game!I am using Unity for game development. Yes any developer with previous experience with unity is welcome. About investments as I said more investment we get there would be greater depth to gameplay and graphics. Yes cryptocurrency would be used as ingame currency. I would like to see investments schemes where people can buy hero's at discounted prices before the game is released. You create "Never to be repeated" in-game Hero's with special abilities that would only be sold to people in the investment phase. This kind of crowd funding will lock people in, before the game has even been released and they would receive some virtual asset for their investment. < something you created for the launch > It also helps to built the anticipation from the people who bought in early. ^smile^ |
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My concern is not the bad publicity, but more the magnet affect it creates to pull in more criminals towards Bitcoin. Every person who gets away with this, signals that Bitcoin is ideal for such kinds of criminal behavior and then we get a situation where more "bad" people starts to use this technology and it starts to snow ball into a much bigger problem.
We need to assist governments and law enforcement agencies to catch these bad actors, because we have the knowledge and the experience to do that. ^grrrrrrr^
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We’re really sad to see all these unfounded accusations. Simply, due to our size and volume (BitCasino paid out over 3000 withdrawals for a combined total over 1000 BTC just last week) we see many fraudsters trying to abuse and take advantage of our near instant payout policy. Our goal is to be extremely fast and fair with everything we do to give our players, the best experience possible, however we do not tolerate fraud or public forum outcries for nefarious purposes. If you have a legitimate issue our support and security teams will solve it diligently and fairly, it’s as simple as that. We strive for innovation in the bitcoin gambling world, being the first bitcoin operator to bring such providers like Net Ent, Evolution and Asia Gaming live dealer to the bitcoin gambling world. We are very excited to soon launch the player ‘Terms and Conditions’ in a smart contract form which will certainly be a first in the fiat and bitcoin gaming industry as well as having all raffles and lotteries to utilize blockchain technologies and provably fair for even more transparency. Our game portfolio currently consists of 1200+ games from 16 accredited and certified major providers, which are thoroughly tested, licensed and regulated by multiple countries’ gambling commissions. Needless to say, we have no way to affect or control the different games’ outcomes by any means, just like fiat operators can not affect the game outcome on sites like 888 or Bet365. Whilst millions of game rounds get played every day, occasionally, there are interrupted game rounds and technical errors, which unfortunately happen. Our 24/7 live support (together with game provider’s tech support) resolve these as fast as possible. In line with our transparency improvements, we are soon introducing sections on our site where you can review math and probability statistics such as RTP, game volatility and hit frequencies. Regarding fraud and in line with our no tolerance policy, our security department has been very focused on eradicating Double Spending fraud and multi-accounting Bonus Abuse. Unfortunately when caught, these fraudsters then post here on the forums with the hidden agenda to claim funds back while cultivating public support without exposing their fraudulent activities. We very rarely share such case evidence publicly nor discuss our fraud detection techniques used for obvious reasons. Our security gurus, in their spare time, fight cybercrime on military grade level and are well-versed in the application of darknet resources, blockchain analysis, IP masking and document forgery. Digital Identity Theft and/or forgery is a serious criminal offence in most countries around the world, and regardless of pseudo-anonymity of bitcoin payments, we will not stand for it and will report it to the relevant authorities if needed. If a player attracts the suspicion of our security team, there will be a valid reason for a security review and our primary goal is to resolve it with the player in private quickly and fairly. Whether the accusation is true or not, we recommend you just be honest and transparent with us and we will be the same with you. Cheers, BitCasino.ioPS. game-protect we would be very happy to have a skype call with you to run through all the issues you have with us and answer all your questions. Further we hope then, that would open the door for a transparent mediation process, should any bitcasino players come to you with legitimate issues. I play here all the time, has alwasy been quick with deposits and withdrawls. Also friendly staff and support. Be careful or the bitdice shill will come here and try to trash your reputation that you're just a shill for them. I doubt that Joel_Jantsen idiot has ever played at bitcasino but hes paid by bitdice to come into other casino threads and claim they are frauds so that people will click his link. For that reason I will never play at BitDice and encourage anyone else not to as long as this monkey is running loose on the forums with their signature. Notice the only people trashing this casino are complete idiots. Just look through the last few pages, its not hard to see how retarded people are.. Agree with you I play here all the time as well. Payouts are almost instant and live support is good. Glad to see I am not the only person here picking up on that kind of thing going on here. The Bitcoin gambling scene are still in the wild west stages, because most of these smaller operations are not regulated and they think they can do what they want, because nobody is watching them. The thing is, most of these other smaller operations are worst than the regulated casinos, but you seldom hear anything about it, because their user base is so small and their threads are not frequently visited. ^hmmmmm^ |
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