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Does it have a future and will Proof of Capacity become one of the greener ways to mine cryptocurrencies?
Im buying lots of Burstcoins now at this price range because I think its very undervalued and that it has a lot more to offer for the advancement of mining cryptocurrencies.
How long would Burst take to reach a 100 million $ valuation in coinmarketcap.com?
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Bitmain should stop taking orders. They might be in the same situation with mining hardware manufacturers in the past, taking every order but with no hardware available for delivery.
In BTC mining, any delay is money lost especially because of the linear rise in difficulty.
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Delayed payouts is the first sign that a cloudmining site is having financial troubles. Beware of the second sign, and thats customer support starts ignoring your concerns and questions about nonpayment of your mining contracts. Then the final sign, they will email their users that offer buying back those contracts at lower prices than the users bought them for.
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Jaime Dimon said that anyone who trades anything related to BTC and other cryptocurrencies will get fired immediately. Try tweeting him that url and put him on the spot. Lets see if he really fires them.
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Decentralized mixing sounds really good but its too good to be true. If you want to make anonymous and decentralized transcations, there are better options in the market like XMR, Zcash and Dash.
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Can we get an update? What is actually going on? We need to hear from you OP! We need to stop the bleeding!
You should check their official Twitter account. They tweeted that they will be stopping all trading by the end of this month upon studying the latest statement from the PBOC. That was yesterday. If BTCC changes their announcement again then this smells like market manipulation. |
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Why not? Burst is an open source project, and Bram Cohen is an open source developer who wants to disrupt the established order. He is doing it with Bittorrent right now.
Im sure a peer review of the code from him will be apprecitated by the Burst community and the developers.
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I don't know why people got panic so easily. People are currently dumping massive coins in the market because of China's action to regulate Bitcoin. What do you think people should do instead of dumping their coins just like that in the market that lead to damage the value of bitcoin?
Its an overreaction from the market which is very normal in times of unpredictability. Some say its manipulation. Dont some of you find it funny that the Chinese media is releasing small and unreliable news instead of an official statement from the PBOC? BTCC is also doing it. |
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Two books for consideration:  The book on the left is about how to screw over just about everyone on your way to wealth. The book on the right is Adam Smith's great treatise on wealth itself. Apropos "Bitcoin is a Fraud", I have highlighted the relevant chapter of the right hand book, "Of the Origin and Use of Money".  I just now re-read these all-important 9 pages and made the following notes and personal observations: - Every woman/man must live by exchanging the surplus of her/his own labor.
- Some of the commodities exchanged throughout history include livestock, salt, shells, fish, tobacco, sugar, & precious metals (gold, silver, copper, iron, etc).
- In any quantity, use of precious metals became cumbersome as metals need to be accurately weighed and assayed for valuation.
- Coined money was introduced to compensate for the preceding challenges.
- Person to person exchange preferences gravitated from other store-of-value commodities (e.g. livestock) to precious metals; people naturally preferred carrying coins in their pockets instead of salt, fish, etc.
- Smith defines two types of value of a particular commodity, "value-in-use" & "value-in-exchange". The former describes the general utility/usefulness of that commodity, whereas the latter describes power of purchasing which ownership of that commodity affords.
I quote Smith's conclusion (pp 31-32) word-for-word here: The things which have the greatest value in use have frequently little or no value in exchange; and on the contrary, those which have the greatest value-in-exhange, frequently have little or no value-in-use. Nothing is more useful than water: but it will purchase scarce anything; scarce anything can be had in exchange for it. A diamond on the contrary has scare any value in use; but a very great quantity of other goods may frequently be had in exchange for it.
Details: | Left Hand Book: | Right Hand Book: | | Title: | W.S.O.B.S.A.N.G.F.L.I.A.S.B. | The Wealth of Nations | | Author: | Fin. Mgmt. Assoc. Phoenix | Adam Smith | | Forward by: | | Robert Reich | | ISBN: | 0-930566-01-7 | 0-679-78336-9 | | Written: | 1976(?) | 1723-1790 | | Still In Print: | Thankfully, no | Thankfully, yes |
 We can probably all agree that anyone who publicly threatens his employees with termination is an SOB. I encourage all whom are interested in cryptocurrencies to read "Of the Origin and Use of Money" and draw your own conclusions. Jamie Dimon just makes himself look stupid... He compared Bitcoin to TulipMania. Only a few problems with that.... TulipMania last over a period of only 6 months, bitcoin is apporaching what, 9 or 10 years now? Mania of almost a decade of delusions? I don't think so. Next issue, Tulips can be grown by anyone and were grown by a bunch of people. It was easy to get into the game and make tulips. You cannot just get into bitcoin mining and make new bitcoins beyond what the difficulty adjustment lets happen. In all reality, we know on average how many BTC will be made per day, per mont, per year, and so on. It is public, planting Tulpis and doing all that isn't publically accesible knowldge. Then, the obvious part, Tulips are flowers that don't really have any value beyond someone saying they do. They don't do anything. Bitcoin is a distributed network that is secure and public for all to see, specifically made for use as a currency Peer to Peer. Tulips aren't. Tomorrow some idiots could make a new currency where they plant some other flower and call it a currency and speculate onit. Doesn't mean it is worth anything unless people say it is. Bitcoin has intrinsic value, of being anonymous(if you take care to be), being public, being secure(SHA256), and having a huge mining operation continually maintaining updates and security. Tulips have none of these qualities. Jamie Dimon is a complete idiot when speaking about Bitcoin. This is just a person talking without pausing to think about what he has to say. Its like he blurted out the first thing that came out of his mind. First of all BTC is not comparable to Tulip bulbs. BTC is trying to be the future of finance or at least be a huge part of it. The Tulip Mania was a pump and dump. Second, BTC is a very good medium for payments. Tulip bulbs are not. Im sure there many other arguments out there on why Mr. JP Morgan boy is wrong. |
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Ramkoi, please provide screenshots and other proof of your accusation. But even then, it would be very easy for you to send your BTC to another wallet and accuse anyone to have stolen your coins. Maybe you really lost most of your money in trading?  |
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$3000 is too low. If it reaches that price in a short time frame, the momentum would be too great and it may take BTC below it. The dump is really not that strong and the traders know for a fact that BTC's bullishness isnt over yet. This is a mere correction to maybe $3500 at most.
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Is Burst still bursting with optimism or has the bubble already burst?  I bought some near the peak prices and I thought it would make the fast climb going to BTC.00001 for an easy 2.5x return. Now I am in the red. Would you buy more if you were in my place or should I leave it and be patient? I think .00001 is still a little lofty for the short term. However, the updates and plans coming out of the new core team are definitely big positives and pushing things in the right direction. Total supply 2.2B coins and we're at 1.8B now, so mining rewards are becoming less and less. New developments and roadmap are what are going to drive things for Burst. A few months ago, things were pretty bleak on all fronts (not even counting the spam attack), but I think things are definitely turning up now. For me, I'm a miner and a timid buyer under 250 sats and aggressive buyer under 200. As a Proof of Capacity miner whats your opinion an Burst's mining algorithm? Is it a viable form of Proof of Work to be a serious competitor to BTC? I also heard about Bittorrent creator Bram Cohen will start developing his own altcoin using a mining algorithm called Proof of time and space. Theres not much to read about it right now but its also going to use hard drives for mining. Maybe the Burst developers should reach out to him. |
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Cartaxi participants must at least make 60 posts per week or is a 60 per week max?
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I'm having a hell of a problem with exchanges. Which are the best ones to use?
I have used kraken in the past but their site is slow and unreliable, it doesn't have that many altcoins available, they frequently get overloaded and disable vital features, and wire out fees are very high. All in all it's a pretty sucky experience...
Ideally I want to have a company rather than individual account.
Some exchanges like bitfinex look nice but they have ridiculously long waiting periods and absurd documentary requirements. Some of them are just unreasonable busy work bullshit to produce (for a small single owner company) and others are things I'm not even sure I can get.
What are the best most hassle free exchanges with good support?
I guess I need one that does fiat and another one that does just crypto to crypto wouldn't hurt.
I'm sure this has been covered before, but then again the landscape is constantly changing and previously trusted names like kraken seem to be not reliable. In the last 1-2 months I've experienced tons of 502 errors, tons of "that service isn't available right now", and that kind of stuff.
Thanks.
The best exchanges to use are the exchanges that dont run away and steal your money. Kraken is still one of the best and safest exchanges out there. I would always sacrifice usability for security. But if you want a safe exchange with a simple trading UI, I would always recommend Bittrex as my number 1. |
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Isnt the Bitcoin Foundation the perfect association for the kind of thing mrjuice is trying to say? It was formed to support education, adoption and community enrichment and growth.
If theres an organization that should reply against the stupid statements made by stupid bankers it should the the BF.
A good reply to them would be, whos the fraud and who was bailed out by the government? Bitcoin or the banks?
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Is Burst still bursting with optimism or has the bubble already burst? I bought some near the peak prices and I thought it would make the fast climb going to BTC.00001 for an easy 2.5x return. Now I am in the red. Would you buy more if you were in my place or should I leave it and be patient? |
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I'm glad to see Footballcoin adding new leagues. This will certainly elevate the game's status against other football manager games. I was also reading the Russian thread today and I noticed this response by the developers: " Hello. Thank you for your interest. It's not our decision not to have coins listed in Bittrex, they decided not to list any coins that work for counterparty. That's why we create our own Blockchain. It is being tested right now. Once this is done, you will see it on Bittrex and other exchange services." So if this response is accurate it sounds like the developers have an intention to try to be listed on Bittrex and other notable exchanges. I hope this happens while the market is still looking good. Does anyone know why Bittrex doesnt list Counterparty issued coins and tokens? Thats a little unfair isnt it? IF theres one conspiracy theory there, I would say Bittex has invested heavily in Ethereum and is now trying to corner the whole market to use and trade only ERC20 tokens to make the price of ETH increase further. |
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In a long term basis,it's good for bitcoin progress.Its because bitcoin has already suffered a lot due to price manipulation by chinese bitcoiners and dominance of bitcoin miners.We could not forget the hurdles created by chinese mining pools and miners in activating segwit.Earlier,bitcoin market was mostly dependent on china for every thing.This move by china could hurt bitcoin price temporarily,but in the long run,it would help mining pools spread in all parts of the world and by this way,the dragon era would finally come to an end soon.
Do you think its only the Chinese who try to manipulate BTC's price? That would be naive of anyone if they think thats true. Market manipulation happens everywhere and can be done by the select players from different counties. By taking China out of BTC trading, it would make it a lot easier to manipulate by the players left because of the reduced liquidity and volume. |
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There not too much difference in commission/fees between different altcoin exchanges. For trading volume, Bittrex is now leading. They are now 2 times the trading volume of the former leader, Poloniex. It must be caused by all the withdrawal problems Poloniex users have been experiencing.
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The ideal scenario is a world where we deal with bitcoins directly between people and not converting to fiat at all. This is not currently a good option, because not all countries and merchants within countries accepts Bitcoin as a currency. We currently move between Fiat and Bitcoin, because we need more merchant adoption.  But how can we have merchant adoption if the people themselves dont want to spend their BTC because it an investment to them like gold, not money or a currency. If you go to a merchant who accepts BTC and cash, which one would you use? Of course cash because who cares about it. While BTC could go to $100,000 in a few years. |
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