Not sure if it will happen in our lifetime, but eventually the world will be something straight out of a Mad Max movie. Owning some land and some gold (not being 100% invested in fiat currency) is probably one of the smartest things a person can do. Guns and gold are probably the safest investment in all honesty.
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I would be VERY surprised if Bitcoin was still in use in 2035. There will be cryptocurrencies, but I feel like by then we will be on the second or third generation of coins. It would be great if BTC was still around, but you would probably need some kind of fork to keep up with newer technologies to still be in use in another twenty years.
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Thanks for posting this article lethos3. RingCT is really interesting. Privacy is obviously one of the main attraction points with Monero. this will I'm not sure if increase the userbase/ price of the coin, but it probably can't hurt.
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I do have to admit that its pretty impressive that they are able to stand up to a DDOS attack by adjusting mining settings. I'm not super informed on the technical aspects on Ethereum. I might have to do a little bit of reading, seems pretty interesting.
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Its definitely interesting that Litecoin is getting more mention, getting more support by wallets and possibly a Trezor hardware wallet, but I'm not 100% convinced that the price is going back up. (Yet) I will buy a couple coins and pray for a miracle, though.
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More wallets supporting a coin is obviously a good thing, but are more companies taking Litecoin as a payment method?
Mining and trading a coin is fine, but increasing user base and the amount of services that accept a coin is the only way to increase its price and keep it growing.
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Yeah Monero definitely has some really interesting things going on in terms of privacy. Its no surprise that some of the darknet markets have started accepting it for payment. I bought a bit of Monero and I really hope that it becomes more widely adopted.
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RingCT means that amounts of each transaction are also hidden? Doing a search now but some of these papers discussing cryptography are way over my head.
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I would definitely not stop there, use custom OS's for it and you will definitely save yourself a headaches. I suggest Minera for these.
Looking at the Minera webpage right now. (I've heard of it before but never used) Very cool that they have a Raspberry PI image. Would be very interested to see how running the image compares in performance to running it on top of a already installed Linux OS. Second time today I'm looking at things that have to do with Raspberry Pi. Maybe its time to finally buy one...
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Definitely a cool project. While you can't really get a lot of value mining Bitcoin on a CPU, you could use it for some other things like a controller you could remote into and manage your hardware miners. Or, as mentioned, running some kind of node server with very little space/ power consumption. Very cool to see projects involving Raspberry Pi! I need to think of something I can build so I have an excuse to finally buy one!
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The price drop to 0.015 is a little scary, but, to be honest, I think its actually a good time to buy. That price seems way under-valued. People looking to make a quick buck are going to sell. Hopefully things stabilize over the next few days.
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I see the price of ETH going up, and people buying it, but what are they actually doing with it? Are there any sites/ services that actually accept payment in ETH? I haven't seen anyone take payment except for Bitcoin and some Monero.
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Yeah I'm trying to figure out what to invest in for when the economy eventually collapses. Probably guns and ammo would be the best. And some precious metals for trading since eventually fiat currency will be worthless.
It may not happen in our lives, but there is definitely some Mad Max times coming in the future. I feel bad for our children and grandchildren. We are probably living in the last of the "good times".
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Personally, I think that the price of Bitcoin is stable enough that I would have no issue accepting payment in BTC. If I had any kind of online business I would definitely accept Bitcoin. If accepting payment in Bitcoins can increase your customer base by even a few people, its definitely worth it IMO.
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Aren't there already sites that accept bitcoin for camshows? I'm pretty sure I've seen some advertised on this site.
Whether you agree with it or not, people are paying money for sex. Bitcoin needs more users, and this type of service would increase userbase.
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I have a lot of fun earning bitcoin. Participating in discussions and earning a little bit from signature campaign, gambling and trading, I don't earn a lot but its definitely a fun hobby. Maybe one day I'll invest in a coin before it hits big and make a lot of money.
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Yes unfortunately Paypal is very strict and in certain situations will freeze an account to "protect the customer". It can be inconvenient but its better than having your money or identity stolen. Dealing with big companies can be a pain because you are basically at their mercy if you want to use their service. But they provide a service with such universal access you may not have a choice, unfortunately. You probably can't beat them so you might not have a choice but to join them.
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Thanks for your answers. I know the general principles of overclocking/ underclocking computer hardware, I just wasn't sure if there was some added benefit for bitcoin mining.
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I'm actually impressed they managed to stay open. I predicted they would be dead in a month. Apparently their plan of issuing credits to cover their losses until they could make it back was a stroke of genius. (Along with their ability to borrow some money or whatever other method they used to stay afloat.)
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I don't believe btw that interest rates have a big influence on the bitcoin price btw.
What do you think are the biggest influences? Is it all just supply/ demand? Are whales influencing the price to make themselves some quick profit? Always interested to hear peoples thoughts on what actually influences price and where they think the price is going.
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