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The idea of the bitcoin bank may not be very appealing for most people here because most people here are not idiots that don't know how to deal and hold their own bitcoin, but outside of internet forums most people are clueless and they will like the idea of other third party managing their money and not having to stress about losing your private keys because you forget the password or something like that, so yes i think there is still a strong niche for that bankster idea on bitcoin.
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No matte how many paper wallets you make, you can never trust 100% that you will keep physical stuff safe. Sometimes it's better to have digital copies too. Encrypty bitcoin core wallet.dat into a rar or 7z file, a password strong enough that you can remember, and upload it on several places. Nobody will ever care about a random compressed file and you will have that file backed up in several different places just in case your house gets hit by a tsunami or something.
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I have gotten used to speaking in terms of satoshis for small transactions and in BTC with using a couple of 0's and commas in order to address the bigger value transactions... I don't need more than that. All those other miliBTC or whatever only confuse me..
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Yeah, I remember reading about that article about some guy that already did the first payment with his hand or something like that, throught a chip that read a QR code or something. The thing is, it's pretty stupid thing to do in my book. In the future once bitcoin is 1 mansion per coin, you are asking for some robber to your hand and use it to go shopping..
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The people with real addictive personality disorder can never get out of gambling by themselves, they would need professional help and maybe even medication to change the chemicals in their brains that make them act like that and compulsively gamble to no end. The people that dont have that strong of an addiction just need to get their shit together and simply do it, it can be done.
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I want to bet on the fight happening. Is anyone doing a bet for bitcoin on this? i cant find anything yet.
Im sure that the bet will happen in 2017.
"Will the fight of Mayweather vs McGregor happen in 2017"? then it's a smart contract that runs the entire 2017 and ends when the fight happens. If it happens then the ones that bet "yes" get the money. I think it's a good bet.
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I think it will be the same as it happened with the internet. They bypassed the cable infrastructures and it mostly runs through wifi signals. Similarly, africans will most definitely bypass the banking infrastructure and jump directly into bitcoin.
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Bitcoin is very popular because of its speculative nature, so i dont think it would be as popular, it would lose its appeal because to be stable it would mean that its just a coin with no scarcity, with inflationary rate of release. Bitocin is like gold, that makes it attractive. Nobody cares about something that cannot make you rich in the long term.
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The only thing that could stop bitcoin from world invasion 100 years from now is that some other mind blowing technology is invented that deprecates bitcoin, but i just don't see it happening. Bitcoin is something that only happens every 100's of years, it could take more than a century for a protocol that makes bitcoin absolutely deprecated at every level. All the alternatives will most likely need to do some sort of compromise, if they want to be faster, they will be less secure and so on.
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You could argue that the logical thing to do is to peg the product price to the price in fiat (in a fiat like the US or EUR that are pretty much the same over time) but then, what is your end game if you want to replace fiat with bitcoin? because if you want to replace fiat with bitcoin, you couldn't do this.
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Blockchain without bitcoin was always a hype, and will only remain a hype, the only exciting stuff being developed is happening in the bitcoin ecosystem, outside of the bitcoin blockchain, you can find exciting sidechain projects, and maybe some altcoins, but no one that isnt a total idiot would get excited about the so called amazing advancements of the banking industry via blockchain technology.
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There is a lot of people taht got kicked out of the game last time because they didn't buy back in, now it will be the same, people will sell at around 1k, thinking we will crash hard, but we will only backtrace a bit, and they will not buy back on time so they will be left with no bitcoins while holders are going to see 3k+ next year.
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If we are going to replace fiat with bitcoin, then we need a way to scale bitcoin into trillion, and the only way we can do this is by Lightning network, so get your ass to work and tell everyone you know to start activating segwit by downloading bitcoin core 0.13.1 and running it all day.
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I run bitcoin unlimited with port 8333 open
I am eager to move to bigger blocks ASAP
Lite clients are Convenient but you can't beat
Running a full node for ultimate security and
Protecting the integrity and decentralisation of
The worldwide bitcoin network
Bitcoin Unlimited is a failure. Bitcoin Core 0.13.1 + segwit + lightning network is the only way out. When will you understand this fact? You can do anything you want, but know that you are wasting your time. BU doesn't work, it's in fact a mess, no one with real invested money in Bitcoin should be gambling it with BU. |
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There are new videos of Floyd Mayweather talking shit about McGregor!! https://www.youtube.com/watch?v=wCNWwMbkZug"Im gonna slap him when I see him" https://www.youtube.com/watch?v=aRld0MlQWDQAnd here he is hanging out with Nate Diaz and says he will put finnishing moves on him!! This is huge!! The fight will happen for sure now. Way too much hype, Mayweather is indeed doing all of this for a reason. I want to bet right now for a yes because now im sure the fight will happen. |
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Okay so let me get this right. What you are saying is, we should go against the opinion of experts such as Andreas Antonopoulos, which tell us how stupid it is to raise the blocksize before activating segwit, and instead listen to your opinion, or Roger Ver's opinion, because you somehow know better? Is this a fucking joke?
Nobody with a brain and invested money in Bitcoin is going to value some no nobodies opinion above Andreas and Core dev's. Get real.
AA could be talking what he is told to, we don't know. Lmao this is the ultimate reasoning that /r/btc nutjobs can reach. And then when they claim blockstream and segwit is a "bankster trojan horse" then that's perfectly fine to say and it's not conspiracy theory nonsense. Always the same fucking bullshit. When /r/btc says something like that it's legitimate and not a conspiracy. Get real, the fact people that know better than you all agree on segwit needing to be activated before a blocksize increase doesn't mean that they are all together against you and are all bought by "the banks". In fact, if someone is working for banks, then that's Roger Ver and the rest of people wanting to raise the block size to make the network less decentralized by making running nodes way difficult for common people, and by not activating segwit which would give us endless possibilities to make bitcoin more anonymous. But you keep thinking you are a smartass and AA and the rest are all compromised by the banks lmao. |
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I've never understood why people, especially people here who gamble and trade a lot and generally waste a lot of money, don't just buy 0.5 BTC today and hold it for perpetuity. If it goes th rough the roof, you're set. If nothing happens, well, at least you have 0.5 BTC give or take. There's such limited risk...
Mostly because there's no guarantee that the price of bitcoin will really increase really high. As we can see right now, it really does increase but it's quite slow. Trading and all the other risky things let you earn more bitcoins. There are things that you can do to make your bitcoin grow, why would you limit yourself to holding bitcoins? 0.5 BTC wouldn't make that much profit even if the price of bitcoins gets doubled after a year of waiting. If you have been trading all those time, then you would have multiplied those coins already. To be honest, holding bitcoins and waiting for the price to increase is nothing but wishful thinking to me. Don't be lazy, get up, and exert effort to make your bitcoin grow. holding bitcoin is a good idea no doubt about this ,and specially in present time when there is a remarkable increase in the price of bitcoin, hope that very soon we are going to see the price trading above 1000 USD. Let's wish for that in the near future. But only holding bitcoin is not good also. We must let it to circulate in the market to keep the bitcoin alive. If we just store it and big amounts of it, bitcoin will slowly die. Yes we are holding our bitcoin for the future but only few amounts of it will do. But if we are only small time holders then let's just hold it. Let the whales drive the price up. I totally agree, the currency should circulate. But each of us wants to grow its assets. And many bought Bitcoin and just keep them to do so. When is the right time, each of us will spend your Bitcoins. It should be up to the owners of the money if the currency flows or not. That is whats so good about bitcoin compared to fiat. Fiat system benefits from constant flux of cash, thats why capitalism builds absolute shit products with programmed obsolence, because for the system to survive, they need to keep people buying shit constantly, so they make things break quick. With bitcoin, you dont need this, bitcoin system can survive no matter what people do with their bitcoins. |
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To the contrary, cashless society will make bitcoin go 100,000+ per coin overnight. As soon as they get rid of cash, people will go to bitcoin because it will be the perfect way to keep financial privacy as the physical cash is removed.
You might ask "but how people is going to buy bitcoins withnout no cash?" well its easy. People will work for bitcoin, and pay with bitcoin, just like they do with cash now.
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What do you suggest that we can do about it? It's not bitcoin's protocol fault that the chinese are lucky enough to be in a position where they get tons of cheap ass electricity. So unless you manipulate the protocol and intervene, it is what it is and we can do nothing about it, unless of course you want to start applying interventionist politics and start regulating the marketcap like I said before.
Nothing to do with their cheap electricity. The issue isn't so much the electricity, or the effective monopoly they have over there with the mining equipment, or the laggy GFC.. its the utter dishonesty displayed by the majority of the players over there. Mining each others headers (Antpool, F2pool, BW, BTCC, VIABTC all do it), submitting empty blocks, block withholding (particularly antpool), scavenging to include only the tx's with the best fees. It's actually embarrassing for most, but they don't care, its a living for them.
They don't play by the rules, its dishonest and to be blunt, cheap. I don't see how it's unrelated to electricity. At the end of the day it all comes down to electricity. Sure some of the miners have shitty practices, like those dumb idiots blocking segwit and mining empty blocks and shit, they are pieces of shit, it all comes down to electricity when you are trying to explain the chinese monopoly. They get cheap electricity = its more profitable to have farms there.. |
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If you asked this question a week ago, I would answer that Bitcoin transactions are very fast, usually 2-3 hours.
But, last week I tried to send bigger amount of BTC and was stuck for more than 24 hours.
I was in hurry to send this funds a.s.a.p and this situation made me very nervous.
So, it seems that bTC transactions can be both slow and fast, depend of each transaction, amount, transaction fee, miners, period of year etc.
Did you try to send them with the core wallet? The core wallet always gives me a fast transaction using the recommended fee. I think there is a problem a lot of times with the recommended fee by certain wallets. If you use the core wallet you dont have problems but of course most average joes dont run nodes. |
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