Personally I say yes as our society becomes increasingly dependent upon technology, digital currency will become a more popular means of paying for different things and it is more effective and instant. I haven't used much physical money in the past 8 years and I rarely had any problems with that. What do you guys think?  for modern societies, this has pretty much been the case for some time now. credit and debit transactions are technically digital currency transactions, as there is a big difference between an ACH USD and and fiat dollar. we wont ever go completely cashless, as digital = electricity, and we shouldnt restrict ourselves to this one eventuality, in case something happens. but as far as the majority of transactions, ask any grocery store, gas station, bank. plastic is king, |
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From a "lets make the world a better place perspective" should we support only bitcoin right now or altcoins also?
Who is 'we'? If you want to miss out on opportunities that currently undervalued alt coins present, sure, don't buy them, buy them later when they are more expensive  That doesn't say all alt coins are ok to buy. Do your own research and due diligence. To clarify, we is basically everyone in the crypto community currently. I have alts yes but that is for selfish gain, im talking about whats best for the world politically.... some have said they prefer everyone focus on BTC right now - Im not sure & need convincing of this argument. Politically, we should be trying to foster corporate adoption of blockchain technology. bitcoin is a payment system at this point; although we could layer like omni, it would be inefficient, given the processing back bone of BTC (all that power!). Alts shine for this, instead of being an all purpose thing like bitcoin, the blockchains address specific needs, taking traffic off of other blockchains so that the whole sphere can operate at its best. bitcoin itself should not be the agenda to push. its whats underneath the hood. |
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Does it make any sense to buy Bitcoin now? Isn't the price too high?[...]
Probably people thought same thing when price was about 50$ Will it ever offer 30 000% returns?
Hard to know, and probably hard to achieve, but I think about 3000% return is still real to do (ofc not surely) people also thought the same when the price was 1k. that went badly for lot of people, at the wrong time. there is a lot of risk in buying in at this price. speculate, if you know how to day trade, but buying now for the long term hold might not be the safest thing you could do right now. understand that there are people that purchased in 2017 alone, that will be willing to liquidate at this level of profit. also consider there is a officially traded futures market now, and that there is an active, easy way to make bets against the success of bitcoin. the entire real estate industry was felled in this manner (US). |
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The journey of bitcoin from 2009 to 2017 is very interesting. Although the stories of individuals(investors) are very interesting and motivational that how they initiated and what problems they faced at earlier stages.
In 2017 the number of businesses accepting bitcoin continues to increase. Where you see the bitcoin in 2018?
I see adoption increasing, both on a corporate and consumer level. but I dont see the price continuing to uptrend like this. I will admit, I missed the mark on the crash price (we are well beyond 10k, LOL). but we jut cant seeing upside without any major correction like this. with that being said, the alt markets seem to be adjusting to this new price level, which is a sign the price might persist at this level; that a new floor may have been established. I dont think this is the case, but empirically it has shown to be  |
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The only thing I know about Bitcoin is that it is a virtual 'money' but what are the other use of it? What are your advantages for having a bitcoin?  There are many advantages that we can get from having bitcoin. First we can make oney out ouf bitcoining. Just using you gadgets like cellphones or laptops or PCs, we can now earn money. Another is that we can pay bills or we can make transactions easier because of bitcoin. Especially for those who do not want to go on a traffic jam just to pay their bills. It really is very helpful and convenient in many ways we can even start business if we have enough savings from doing bitcoin. Yes, bitcoining really is helpful for it produces virtual money that we can also earn. Finding how to use bitcoin is quite easy and convenient because we use gadgets which are necessary nowadays and are easy to find. Bitcoining is really easy to use in transactions because we only need internet, if someone doesn't want to waste money in travelling just to pay bills, they could rather use bitcoin. Someone who is unemployed can start a business through bitcoining. ... in a shit economy. unless you are starting a picking up rocks off the ground business, most startups require capital, even if you are just cutting grass. unemployed means broke or running to broke. not the best time to start a business, IMO. everyone doesnt have a cellphone, or access to the internet. the advantages that are typically enumerated for bitcoin break down immediately for those that dont have access to 3rd through 1st world amenities.. and the amenities like this are fickle things that arent really required for survival. you dont need internet to survive, nor a cellphone. but you need these things to bitcoin, at the most basic level. |
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This is the opposite of good to me. The United States gov is interested in value, period. Notice they arent keeping the bitcoin as a speculative hold, they are liquidating it. Just like they would any other seized asset. I have huge issues with the way that the US takes property from suspected criminals, so I can see the potential for abuse here (lets go after someone we normally would not prosecute, because they are bitcoin rich). This also should correlate with increased scrutiny from the IRS (as apparently they are paying attention). Not mad at this, but have seen the dangers of taking a bitcoin salary in a serious downturn. You need to be able to trade in order to do this, so the average Joe will lose value, and we all have bills to pay. |
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I haven't sent btc in a while. Back when i sent btc, fees were less than 50 cents. Maybe 3 dollars? I went and tried to send less than 30 dollars of btc... fees show up as 12 dollars on electrum and thats with the lowest possible fee where i make it send within 25 blocks. Now if you want to send under 1 dollar, it cost 12 dollars. When is this issue getting fixed? Who in their right mind would send btc for small amounts when even the fee is that much? Its like paying 12 dollars for something you want to buy that is 1 dollar?
Welcome back to the economy, and observe the foolishness we have been up to in your absence LOL This is purely the result of the price. We have managed to run this thing up to the moon, but on a crap rocketship. The price at this level, according to Satoshi, should indicate that the protocol has scaled accordingly, and adoption along with it. This is a result of speculation, not adoption. So, programmatically we have not truly fixed the fee situation (the congestion situation ) And the confirmation times suck now too Think of BTC as a utility token. Fees are based off of price, and price set by demand. Demand should derive from the actually usefulness of the coin in this case; what has changed so much about BTC recently, usefulness wise, to justify this price? |
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Hello guys, what is your theory regarding Bitcoin Futures. Some say Bitcoin will dip, some say will double. What say you? What's your theory? bitcoin will double in price and demand many will trust in bitcoin and others will stop say it’s buuble. my theory high price and high fee Im opposite going to say it will dip because the futures contracts show bearish sentiment I think and I think the market will react to that in the way they want. I also think quickly thereafter we will rebound and make ATH for bitcoin but that will happen in January imo not late December. Some of the same here. Thinking the futures market, which will attract a more mature/accredited investor, will driving the price to its conclusion. when we get there, that same market is going to turn tres bearish in sentiment, and tamp the price back down so all the bank guys that ignored us the first time, can now buy coins under what they know is "less than peak". Either we are going to get a 20k BTC Xmas gift, or we will have a 'happy new year', so to speak. but q2-q4 2018 isnt going to be rosy like this, I feel. Major retraction after we actually visiting this price range, and stay there. And God help us if they dont pass that tax reform. Corporate America's brain will explode, and much chaos will ensue in all markets, globally. |
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I think we are still far from bitcoin being a fever. Although more and more people are finding out about bitcoin and crypto in general, when you look at all the people around the world, people who know about bitcoin is a fraction of a fraction. So we have some way to go yet.
Yeah, even thought we have gotten much higher profile in the media, does not mean that adoption has paced at the same rate. its something trending in the news, because the price is pretty remarkable at this time, and it makes a good talking point. and consider, despite the fact that more people obviously know about bitcoin now, its still pretty hard to buy bitcoins. Most people in the United States dont have a stock portfolio, and while it is slightly harder to purchase a stock than btc, EVERYONE knows what a stock is. Awareness does not equal adoption always. |
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Gold in general is no better. The value of gold is nothing more than a result of a global consensus - at the moment everyone agrees to consider gold a measure of value, simply because this measure is in some form or another necessary. If we assume a utopian situation, that tomorrow everyone agrees that gold is not such a measure, then it will be good only for the production of quality wires and trinkets.
The btc is gaining momentum for exactly the same reason - the global consensus towards the btc is constantly being strengthened. In this case, unlike gold, the cue-ball is not only a measure of value, but also a settlement system, and gold is not a competitor for this parameter.
i feel your rhetoric, but consider how we have reached both of these price consensuses. bitcoin price is the fodder of so much soeculation, and none of us can disagree that this much price advancement in such a short time carries a high risk of pain for participants. but the price of gold? a consensus yes, like all markets, but the price of gold is based in its utility. you can sell gold as a product, not just a speculative asset, because you can actually use the chemical properties of gold, for various ends. so the price actually derives off of the average consumer price of products containing gold. basically, it has a known markup. bitcoin. not so useful if you are buying something on the internet. |
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Is it legal to gamble with Bitcoin in the US? Oklahoma? Asking for a friend..... lol
if you are of the age of majority, able to gamble, and have reported the bitcoin and intend to report your winnings, you should be fine. be sure to save records of your transactions within the casino, they usually have a csv you can export if you need to be able to provide a record. this is general for United States citizens; Im not quite sure of the specific laws that govern Oklahoma concerning gambling. alot of it has to do with the casino you used is licensed. if they are unregulated, that comes back on you a bit, but mostly reflects poorly on them. so use a decent casino, not a fly by night, that asks you for identity documentation (if they are legit, they pretty much have to conduct proper aml/kyc if they serve US citizens) some clarification, did some additional research: To be more specific, if the state or region you live in prohibits online gambling, it will not matter which form of payment is being used. Gambling is (technically speaking) not illegal on the federal level by any means. However, several US states have made gambling illegal, regardless of whether it occurs in a physical location or on the internet. The method of payment used to fund ones gambling activities, however, is a different matter entirely. |
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As quite a few of you gamble in cryptos casinos from countries where gambling is forbidden, I was wondering if you use TOR to hide your identity. Or if you use it as well, even if you don’t gamble, to avoid your movements being traced when operating with btc and other cryptocurrencies.
its not really worth the risk and hassle (using tor). to be honest, it is clear that regulators are not yet cracking down on bitcoin gambling, they could shut the site down overnight and seize the funds, the rest is just sorting through who is who (there is the blockchain, a public ledger, and the better of the casinos do basic kyc to cover their asses). so the best thing you can do at the moment is simply enjoy it while you can. this is clearly illegal, yet there has been no official guidance yet. thrive in the void. but i think it is unwise to leave winnings on a gambling platform while you are using them,due to my above argument. you never know when the situation will change, and the ease of moving btc off platform will make you feel like an idiot if you fail to do so. much like an exchange, dont leave funds on a hosted wallet. be careful. |
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Like every other investment such as real estate, stocks and other forms of investment we know that you can invest in that kind of things and then you get something like say a Certificate or a Binding Document as a proof that you are part of that investment, now that of bitcoin all you have is just your address, your password, key and seeds as proof of the ownership of the wallet. BTCSo now if one is considering buying bitcoins and saving for his/her children in the future is there any way to do that with bitcoins apart from having to write down your details somewhere. I'm asking because with that kind of stuff if no one knows your seeds or password no one can get the coins.  because kids are kids, you may want to do this with a hardware wallet. the updates will ensure that the kids will be able to spends the coins at some distant point in the future, even if there is a major change in the protocol (for example, the way public addresses are formatted). this wont be quite so easy to lose or destroy as a paper wallet as well, and wont be subject to breach simply if someone finds it (the damnable paper wallet). most paper wallets have this terrible flaw; the private and public keys are clearly labeled and visible once you obtain the document. the best paper wallets have your information on them, but in way that only you understand. if its too clear and someone finds the paper key, then you just gave away the keys to your kingdom in a very clear and concise format  |
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Hi all,
Ive been investing small amounts in Bitcoin and ethereum for a year or so now but i wanted to ask what is the best or easiest way for a newbie to buy the currency now. I have a coinbase account so im able to purchase quickly if need be but so many buy sites make it very difficult for newbies to make such purchases in quick time. What is there out there thats on board and safe for anyone wanting to join the market quickly and start investing in such currencies?
Kind Regards
Griff
responding to you on Dec 9, 2017, the best answer is DONT! Look at how much the price has advanced in so little time. caveat emptor bu for when things simmer down, and to answer your question in good faith, it depends on where you live. Assuming you live in the States, Coinbase is your best option hands down from a risk standpoint. They are insured, are practically in the bed with banks so account integration is smooth, and they are fast as the average stock trading platform (3-5 business days, and the gold standard of business transactions). Kraken is pretty decent as well, with a lot of the above advantages, but a less user friendly interface. followed by localbitcoins. easy to use, but very easy to get scammed if you dont know what to look for Basically, look for a major lic. exchange. upon failing that, localbitcoins or bust. everything after that is dodgy. |
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I know we are still at a start of cryptocurrencies, but bitcoin is growing with lightning speed right now and some banks already see it as a potential threat.
There has been a lot of accusations form banks, that bitcoin is perfect for money laundering and is used for supporting crime.
I think they can do a lot of harm to bitcoin market and they will eventually start with harsh campaign against it.
Do you think it will happen and when?
where have you been man? most days, at this price level, banks from various locales have been raging a very public war with bitcoin, calling us a ponzi scheme or a fraud. banks are the ones lobbying for regulation by the way; there is a reason it took this long for all of this noise about the current price to come to a head (to be honest, the price is the cause of this, but chicken egg) . banks have been shutting down trader accounts for the last 2 or 3 years. if they dont like bitcoin, you are at the mercy of the bank; most of us sign away the right to argue our point when we put our name on that bank account form. and in the case of ppl being charged as unlic. money remitters. who do you think is reporting these guys to the authorities, for them to investigate? |
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Since the total number of bitcoin is fixed, so the value of bitcoin will keep grow, and it's price will keep grow also. So will there a price cap for bitcoin?
theoretically yes, in a perfect market. this is far from that. simply observe; by your rubric there should be no major regressions. what happened after gox, and what happened after the China rumors? obviously there is a cap, but i will say it is impossible to determine at this point. an aside, we need to make mining more efficient. of course there is a price cap, but to be honest no one has a decent valuation method for it, cuz the overwhelming majority of folks would also be hard pressed to price a bitcoin period. much less a maximum valuation. there is no basis essentially, and those that have attempted to base btc in a fiat value all agree that it is much lower than the current price level so, impossible question, but for a practical answer, when people get tired of the fees, and old heads feel its time to take profit, well, that will be the price cap. |
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say someone was to buy 30 bitcoins .. what is the best and least expensive way to go about this using the gemini exchange? would a regular limit order be ideal?
im not too educated about how the different ways to buy work and would like to learn more.
if the current price is showing $15,500 and you edit the buying price to $15,200, will the order eventually go through or most likely not? and if yes, approximately how long would it take?
basically, what is the best option for buying under market value in the least amount of time, if any?
PS.. edited this without the caps lock for those that it bothered. any help would be appreciated.
no fucks given abotu the caps lock, I dont know why folks trip out about that so hard. more concerned about the crappy english thats impossble to follow at times anywho, you want to look for a verified exchange account, or an otc trading account. the are advantage to both. for the otc account, you will get a daily adjusted rate, rather than be subjected to the spot rate (which is too variable for large purchases like this). this adjusted rate will reflect the average rate for the day up to that point, and will be a better value. if you get an exchange account, you will have the piece of mind that you can sue someone if you dont get your coins this is always a great relief to me, usually the ability to sue means that folks are much more likely to act right (liability sucks!)  you will have to verify out of your ass, however, to move this much money, and your bank is going to make you disclose this, when to transfer this much money be truthful, it is a crime to lie on this form in most locales. |
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I'm not clear on this one point. If somebody got a hold of my private key and moved funds from an address that I claimed on the ledger, is that against the law? At what point could that be considered a crime? For example, if they hacked into my machine and stolen the private key; if they sniped the pk while snooping on a public access connection; brute forced the pk into existence; or just plane snapped a shot of my qr code over my shoulder....ect In which of those examples could I pursue prosecution for the theft of my coin?
oh hell to the yes. hacking, or the contemporary meaning of it, is not taking anything more so than accessing something without your permission. for the edification of the community, please see here: Criminal offenses under the Act[edit]
(a) Whoever—
(1) having knowingly accessed a computer without authorization or exceeding authorized access, and by means of such conduct having obtained information that has been determined by the United States Government pursuant to an Executive order or statute to require protection against unauthorized disclosure for reasons of national defense or foreign relations, or any restricted data, as defined in paragraph y. of section 11 of the Atomic Energy Act of 1954, with reason to believe that such information so obtained could be used to the injury of the United States, or to the advantage of any foreign nation willfully communicates, delivers, transmits, or causes to be communicated, delivered, or transmitted, or attempts to communicate, deliver, transmit or cause to be communicated, delivered, or transmitted the same to any person not entitled to receive it, or willfully retains the same and fails to deliver it to the officer or employee of the United States entitled to receive it;
(2) intentionally accesses a computer without authorization or exceeds authorized access, and thereby obtains—
(A) information contained in a financial record of a financial institution, or of a card issuer as defined in section 1602 (n) [1] of title 15, or contained in a file of a consumer reporting agency on a consumer, as such terms are defined in the Fair Credit Reporting Act (15 U.S.C. 1681 et seq.);
(B) information from any department or agency of the United States; or
(C) information from any protected computer; Now mind you, this is in the States. but the breach itself is the crime here, the criminality is only enhanced if they steal something, or use the information in a malicious way (blackmail for example). and if they use fraud to access the wallet, beyond the technical expertise/ tools that are required to breach a system, then that is a unique crime as well. |
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Unless you're all BTC you need a bank account. Although they're semi autonomous their banking is linked to the UK and no bank there yet wants to play. You can have the friendliest environment ever but without banking it's pretty pointless. Amen. You can accept btc all you want here in the States, but dont think about doing it as a money service. Essentially, banks want us to be subject to the same regulation they are , because it is a cost of business, and unfair if only a part of the industry are subject to it. with that being said, banks have had a hell of a head start. but, without a bank you a pretty much relegated to using a payment portal as a merchant, which will most likely convert you btc into fiat which goes into your biz bank account. not exactly accepting btc in my book, more like using the sale of a product to facilitate the conversion of btc into fiat. |
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