Theoretically, an equilibrium will form.
When the amount of BTC goes down due to the lowering block rewards, miners that can no longer make a profit with the fees alone will shut off their ASICS, this lowers the diff, the lower diff will make it easyer for the leftover miners to solve a block... So the leftover miners will solve more blocks with the same hashrate and rake in more fees (so have a bigger income while their expenses stay the same)... In the end, the network's hashrate might lower a bit, but theoretically, that shouldn't be a problem.
Offcourse, how much miners will decide to turn off their equipment in the end will depend on how much fee/byte will be added on average, how big the blocks will be, and it will also depend on the bitcoin price...
I wonder if this theory can already be put to the test approaching the tenth year of the network. I have a feeling this equilibrium is already demonstrable - rising fees with rising price means the assumption of more profit but this is probably only catching up with extra cost to mine and spread among increasing hashrate, meaning more or less the same income as before. Anyone know research we can look at? |
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I sold all my 1337 at poswallet when they delisted... not that I wanted to dump them but it was too much trouble to manage yet another alt wallet. I'll probably regret it but then I have others to worry about.
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Depends a lot on how much time you have to trade or if you want to set long term sell/buy orders and keep discipline in letting the trades happen. If you want to stay online and watch every movement you must be prepared to take short term losses. Trading is easy, making profit is not!
Me? I just want to focus on simple earning.
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Bitcoin is having 8 decimal places and never was created the way that everybody can own a whole Bitcoin.
Even mBTC may be worth a shit ton of money in a few years.
How many people can afford to buy a 1kg bar of gold?? Think about that! That's why you can buy in ounces.
The same is going to happen with Bitcoin imo! So use the time you still have and buy as much BTC as you can without putting all your savings into it of course!!!!
If we use the gold analogy, then OP has a point about Bitcoin becoming out of reach for the common man. It used to be than even anyone could go and mine gold, now they are considered wealthy if they can afford an ounce of gold. Today, you can be considered wealthy if you can afford to buy 0.1 BTC. More common now is for people to afford silver... maybe LTC is the analogy for silver? Even the LTC icon is silver, compared to BTC's gold colour haha. |
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It really depends on who you ask although today, I'm sure 9 out of 10 people out there won't consider it so. Even among finance people, there is a huge disagreement about crypto in general in terms of it being "sound money". That's not a bad thing for a currency less than 10 years old:)
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Blockchain.info wallet implemented "priority" and "regular" fee. Last night I sent $200 worth with $8 fee and it got confirmed in 1.5 hrs.
Do you think it's fair with the transaction you did with them? $8 fee is a very big amount and 1.5 hours isn't that fast with that fee. I will guess that it is a priority fee, I've been using blockchain.info with their regular and recommended fee. I haven't tried to adjust the fees and there's no problem to me, it's not even getting delayed for so many hours just like others are complaining. I am pretty sure that it depends on how fast the person needs the money by because spending a more than a couple of dollars just so another person can get the money is not really a smart thing to do if the person can wait for it. I would spend less than a dollar for the transaction and the transaction would get confirmed within twenty four hours and I don’t have to worry on someone not receiving the money in time. To be honest, have to agree that 4% fee for that amount of money is very expensive for 1.5 hours! Western Union and Paypal get it there in a minute for almost the same fee, actually, less... I don't mind 24 hours or even 72 hours when I get payment. But it's too bad some sites have expiry on deposit time. |
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Here's a simple scenario: Small time street druglord wants to clear $1million weekly. Today, this is 350 BTC. Who at all, if possible, can facilitate exchanging that volume of Bitcoin into fiat without getting noticed?
Or should said druglord purchase mining rig to ensure all his staff and dealers get paid in Bitcoin?
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They wil grow even more! If everyone now thinks they will grow even more and invest in the Bitcoins, they will actually grow even more! So come join me!  Anyways, the best investment I ever made was getting +4900% at freebitco.in when I invested 1 satoshi and got 50 satoshi  That's not really an investment (well okay, you invested time but then you can invest 5 seconds at that site to earn 70 satoshi per click!) haha. My best investment currently is this forum. I made this account last year when a friend advised me to, but I didn't pay attention to him when he said to be active. So I "wasted" 3 months before finally making an effort to contribute by also commenting instead of just reading. Now, I can join campaigns and as I have to read and respond carefully, I also seem to learn a lot more about crypto:) |
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Anyway, what the OP said makes sense. Bitcoin is going to the wrong direction, yet they do nothing. What you feel when reading this page: https://bitcoin.org/en/innovation ? It feels like false advertising. Actually, many of the pages as bitcoin.org makes me feel a lot of things. Surprise, amusement, sadness. But also... https://bitcoin.org/en/you-need-to-know is quite important. For me, the bottom of that page is a "warning". Bitcoin is still experimental. By the way, it's unfair to say they are doing nothing. And unfair to say they are advertising. |
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Just one thing OP/admin. Be careful with copyright on images. I started playing at your site and noticed that my icon on user profile was using the picture of Fry from Futurama. My favourite show, but maybe be careful you don't get in trouble for something silly like that.
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The trollbox always bothered me, they should have just opened it on a separate page for people who wanted to chat. Hopefully now support will be faster since mods aren't wasting time on silly bans and reminders.
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Satoshi may not have dreamt of creating more elites out of nothing, but I am sure the genius could imagine that it would happen and no one could do much about it. Just like gold/dollar and other assets, before mainstream adoption, the elites already had most of the wealth and the rest of the world used 10% of the rest.
It will be the same for Bitcoin, unfortunately.
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Looks very promising, especially interested in how you will create useful aspects for this coin. A lot of alts claim to want that but we see so little if anything done in that direction. Heading over to "the garden" for that delicious airdrop!
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$100 billion market cap? I think you should open your eyes - currently the global market cap has surpassed the $200 billion already! It just shows how market caps are pure rubbish indicators. Seriously, look at these throwaway coins - MalCoin $36.7 billion market cap, and SolarCoin $29.8 billion market cap. At least Ethereum has some sort of a community behind it, capable developers, plus enough market movers. But the afore mentioned coins should be wiped out of existence immediately, that rubbish are they.
That's very harsh but I suppose it is not unfair. A lot of people are enjoying this ride on alts like those you mentioned and when it all falls apart people will be looking back to them and placing the blame there. It maybe is not helpful when you realise all those alts were mainly traded in BTC, helping pump it. |
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Its been a while since the Rain Storm feature is active . It really is awesome way to share tokens with active users  Sometimes I get more than 50k tokens just from Rain storm . Actually, I was in three days ago and was lucky enough to see the rain storm. If I remember correctly, it rained four or five times on the same user, something like 300k? So yes! Definitely still an active feature:) |
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Hi everyone!
I don't know if I did this right, but I used blockchain.info, and sent BTC to the escrow account. Also, whats the name of the slack team? I looked through previous posts and have not found it.
Thanks!
Well, it seems you did it right, but you didn't provide enough information to say whether you did it 100% correctly:) If you followed instructions, why not? Anyway, you can find the invite to Slack on this link: https://nvoinvite.herokuapp.com/ |
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LOL.
as long as there is the good old US dollar which is untraceable, anonymous, easy to obtain, use and spend literary anywhere in the world, why would anyone with malicious intents want to use bitcoin which is traceable, not anonymous, hard to obtain, use and spend?!
Exactly! ransom and oil for example are worth millions per transaction (daily oil output from ISIS is millions). Using Bitcoin, this means a few thousand coins moving around making it so easy to trace by any of us. There's no easier way to say "Hello look at me" |
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Actually, there are still some sites (not really wallets) that don't charge anything for withdrawal to your wallet. But I don't recommend using them to store big amounts of btc. They are mainly gambling sites so I shouldn't advertise but try a few and you will see most don't have fee, where I deposit and play for a while. In fact, I only dare withdraw when there is less than 80k tx in mempool... usually tx is not with a high fee and it takes about a day.
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It's easy to be the biggest exchanger and they won't mind 10 or 1000 BTC if the person has been verified according to their law and requirements. The limit is just from the government side, which banks won't take large transactions, right?
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Unfortunately it looks like the blockchain tech surge is finally reaching its peak. To be honest it was just empty speculation - you could have literally picked any coin in existence and held it for a couple weeks and you would have more than doubled your money. Even the most obscure shitcoins in existence have got pumped, all at the same times.
Christ, the Internet is weird.
Anyway, good luck OP. Don't get caught up with all the high gains - they can't last forever. And make sure that a lot of your profit is realised, in case something bad happens.
It's a risky game you're playing. Just make sure it's based on skill rather than luck.
1. I don't agree it has reached the peak. Yes, this was a peak but there will be others. 2. I agree this peak will mislead people to think trading is easy. All the coins (almost) went so high, even silly ones. So maybe in peaks, it is good to buy cheaper coins and sell and stop and wait for the next peak:) 3. Always keep profits, and expect to fail at some point:) |
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