Posting in this topic because its hilarious. Usually I save the drama for my babys momma, but I just cant resist. (Not like I care if Theymos cashed out every bitcoin for himself but anyways...)
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The next halving is in four years from now (approximately). There is no telling what will happen with Bitcoin in the next four years. Maybe its a safe investment and you will double your money, or maybe some other coin will take over and Bitcoin will be dead. If anyone can predict what will happen in the next four years, please let me know so I can make some money with good investments!
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What is the point in underclocking a miner? Obviously I can see why someone would overclock a device to push it to the max, but what benefit do you get by slowing it down? Is it just to reduce the amount of power you are drawing/ heat generated to hopefully increase the lifespan of a device? Or are there other benefits?
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Bitcoin market is only consolidating - as trading experts predicted, hence temporary price reduction - and people already panic and expect price crash to $250? Have some faith here.
I personally don't think the price will crash, but every day there are new threads of doom and gloom with people saying 'the sky is falling' because the price dropped $5 or $10. It seems like most people go into panic mode unless the price is continually climbing. I'm just waiting for some big website or service to announce they now take payment in Bitcoin. Then we should see some increase in price.
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I really do hope for the price to increase to $1000. I think this would be a good sign for Bitcoin and other coins, as well. If Bitcoin crashes and drops back to $250 or something like some people say, I'm not sure if other coins would go up, or drop as well...
Now is the first time we've had any other coins actually worth more than a few dollars. Monero, Etherium and some others are very interesting since they are actually worth a little bit of money now.
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Yeah I would love some more details on this one. It's not un-common for the police to lie in court if they needed to search a residence/ car but couldn't get the proper warrant. (I'm assuming something like that happened here)
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How many new coins made it through their first year?
The altcoin market is funny, and I have no idea how anyone can trade these coins. If you look at exchanges, they de-list ten or twenty coins a couple times a month. 99% of coins are some pump and dump scheme. Its actually amazing when any coin actually gains traction IMO.
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Its really smart to see Coinbase register domains like co-inbase.com Tons of people get scammed by a simple typo, visiting a phishing site cloned to look like the real site. This is a smart business strategy that any big website should be doing. Very easy to protect their customers for a few dollars a month by registering the domain and re-directing to the main website when someone makes a typo.
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Yes the key is to separate your WANTS from your NEEDS. Of course there are many things you may see and think "oh I really want that" but if you want to save, wait a day or two, and decide if you really NEED to buy it. You will realize most of the time that you can do without it. You will be on your way to saving in no time. Then you can build your wealth and buy the things that really matter. I wish I knew this when I was younger, instead of wasting money on things I didn't need.
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I don't spend them, but sometimes I get a good tip for some sports event and do some betting. Sometimes it doesn't work out and I lose the bitcoin, so thats kind of like spending them, I guess.
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I think that if a bank etc were to buy Bitcoins on a large scale, it would be for some nefarious purpose. If someone spent enough money to purchase coins and took them off the market, they could manipulate the price of Bitcoin very easily. Just remember that to a large bank, a Billion dollars really isn't that much. If they felt threatened, they could definitely cause some real issues for any of the crypto currencies.
I would be interested to hear what people would think if suddenly 75% of Bitcoins were bought up and never seen again. Would the remaining 25% go up in price? Would there be enough coins to sustain the market?
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Losing five or ten dollars is not a huge deal. I know all investors want the price to keep going up, but maybe the days of getting rich off bitcoin are over. All we can hope for is a stable price and maybe a steady, modest increase.
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Bitcoin is an alternative to fiat currencies. Banks are only interested in fiat at this point in time. It would be interesting to see a bank start accepting cryptocurrencies, but its not going to happen any time soon, because Bitcoin is a competitor, and they are not going to promote a competitor.
Maybe we will eventually see some local credit union start accepting Bitcoin or some other coin. But I don't think that will happen for a while.
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Etherium and Monero are starting to be accepted at some sites, and look like they might have a future.could Investing in them could possibly yield a profit. I've seen Lisk mentioned some but I'm not sure of anyone that is accepting it as payment.
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You really think it will drop as low as $250?
What about other coins? Will Etherium or Monero or some of these other coins gain traction? Is the price of some other coin going to go up/ down? Or will only Bitcoin be affected?
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A small (few percent) in either way or the other is normal for any currency. So unless you have a huge investment in Bitcoin and are looking to do trading, a small change will not affect you much. A steady price is good for long term investing.
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I think mining either would be good, becasue both have the opportunity to increase in value still.
I feel like Monero has the possibility of becoming the next major coin. Some of the darknet sites are beginning to accept payment in Monero, and this will lead to new customers and (hopefully) wider adoption as a whole. Imagine if you put $100 in Monero, and year or two later, Monero was worth the same as BTC. You would have over $5000 for your modest investment.
I still think Eth has a good possibility for profit, but Monero has a bigger potential if it hits because of the lower current coin value.
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Yeah I feel like unless you have connections to some of the already established big name Chinese mining companies, you could make more money in other areas with 2 million. Buying a large amount of Bitcoin and operating a casino type site is a good idea, just be prepared to pay a ton to have your code reviewed and make sure its secure. You don't want to lose your coins because of some vulnerability like one of the exchanges supposedly did. I would also invest a bit in some alt-coins like Etherium and Monero. If one of those coins takes off, you could stand to make a ton of money.
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It is believed that when the SegWit is released to the main chain, the bitcoin price will at least double.
Any sources for this? I've been doing a little bit of research, and segwit is definitely interesting. But why would it cause the price to jump so much? Would throughput increase that much where it would reduce confirmation time? What are the estimated times like? (I'm guessing that people assume quicker confirmation means more stores etc would take Bitcoin and the price would jump up.)
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Bitcoins are like bank transfers, but there is no way to reverse a transaction. Once they are sent to an address, whoever controls that account has the money. It is up to you to verify that you are sending to the correct address, and to make sure no one gets access to your account.
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