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The idea for tokens is to be used in the platform. In Ethereum, ETH is used to pay for fees when you send ETH or an ERC20 token. Its the same with other dapps built inside Ethereum. Some of them require you to use the token to use the dapp. Without the token the dapp will not work.
If you see a dapp that has no use for their token except as a form of stake to buy and sell in the exchanges then this is a pure ponzi. With dapps that require the token for the dapp to work, at least the people behind it are creating a use case for their tokens.
In conclusion owning a token with a use case in a dapp is also like owning a part of the dapp.
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Lower fees = more happy users = more adoption = higher price = more reward for miners.
(12.5BTC+0.5BTC) * $5000 >> (12.5BTC+3BTC) * 1000
I don't understand why the miners are ignoring this very important thing. If the fee is low, then for a short while their revenues may decline by 4% or 5%. But in the long term, it will increase manifold due to the large spike in users. I dont think a spike in users will happen just because the fees are low. No one is really using BTC to buy items online. They have their credit cards and Paypal for that. The only attraction most users have for BTC is to hold them as an investment to get rich. actually what i meant was the opposite. low fees may not lead to "spike in users" but high fees and all the issues associated with it can prevent the "spike in users". in other words if bitcoin works smoothly like it has been for years, the adoption will continue to grow and the speed of it will increase. but if fees continue to be high and all the delays and stuff like that continue happening then the adoption will also be prevented. luckily the spam attacks and with it the high fees never last long so the effects have not been severe so far. Thats because it will never last long. Spamming will cost the attacker a lot of money. If he wants to continue doing it for years then he will inevitably realize that it was better for him to save all those BTC he wasted in the first place. |
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Honestly just go for the paper wallet. I own a Trezor and I still havent used it. I have an ordinary USB that I have encrypted and it contains all the wallet files and the private keys for my cold storage needs.
Backing up your private keys and storing them well is all you really need. I dont see the value of buying more than $100 for a hardware wallet.
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Like some of the advice given here Im with the invest straight into BTC camp. There were a lot of people who didnt do it because they were thinking that BTC's price was too high. But if they did it for $1000 starting on January of 2016, their investment would be about $10,000 by now. In 5 years it could grow 5 times more.
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Well at least I won't be asked to spend ~$7 in fees for a $20 transaction again. Lower fees = more happy users = more adoption = higher price = more reward for miners.
(12.5BTC+0.5BTC) * $5000 >> (12.5BTC+3BTC) * 1000
I don't understand why the miners are ignoring this very important thing. If the fee is low, then for a short while their revenues may decline by 4% or 5%. But in the long term, it will increase manifold due to the large spike in users. I dont think a spike in users will happen just because the fees are low. No one is really using BTC to buy items online. They have their credit cards and Paypal for that. The only attraction most users have for BTC is to hold them as an investment to get rich. Isn't the unbanked and those without Paypal and CC supposedly the primary users of BTCBTCBTC. Seems times have changed. What do you mean? The unbanked people from a third world country? They do not need a bank or cryptocurrencies. What they need is food, shelter, clothing and a helping hand in how to get their life in order. They are barely surviving and they dont have the time to think about cryptocurrencies. |
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Lower fees = more happy users = more adoption = higher price = more reward for miners.
(12.5BTC+0.5BTC) * $5000 >> (12.5BTC+3BTC) * 1000
I don't understand why the miners are ignoring this very important thing. If the fee is low, then for a short while their revenues may decline by 4% or 5%. But in the long term, it will increase manifold due to the large spike in users. I dont think a spike in users will happen just because the fees are low. No one is really using BTC to buy items online. They have their credit cards and Paypal for that. The only attraction most users have for BTC is to hold them as an investment to get rich. |
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Is there a one account per person policy in Bittrex? My friend has an old basic account that he has been using since 2015 and has not encountered any problems with the exchange.
I also noticed the only accounts that are disabled are the new accounts. Any idea why?
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Is Coinbase hiding something and that its really running a fractional reserve now? Its supposed to be one of the most professional services out there in Bitcoin. What happened to them? This is from Peter Todd on Twitter. https://twitter.com/petertoddbtc/status/891662660454010881
The "congestion" explanation doesn't make any sense.
I'd recommend the precaution of taking you BTC out, as they may be covering up a hack.
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Sfatva, if you are a freelancer then its as easy as setting up a wallet and giving your would be employer your BTC address where he can send payment.
Set up a wallet. Go to electrum.org and download the software for your OS and install. Be sure to save your seed in a safe place. If that gets stolen, then someone could gain entry to your wallet and get your private keys.
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Was the Burst network itself DDOSed or was it just the website and the web wallet?
I also want to know how far in development is Proof of Capacity in concern with security and its efficiency? And are there more developments coming? Ty.
The network was SPAM attacked: it was flooded with transactions that caused stable nodes to run out of memory and drop, causing the chain to fork. As well, a number of pools/forums were DDOSd. All is well now though (1 chain, forums and pools online). That sounds really bad for project that aims to be used as a currency. What did the developers do fix the fork? Did they roll back the blockchain to kill the fork? Will the same spam attack work and fork Burst again? Whenever a fork(s) occurs, the smaller fork gets dropped when they converge again. This happens automatically, with no dev input needed. I'm pretty sure this is how most chains work. In Ethereum, those blocks are called uncles I believe... Yes, a new version was pumped out to fix the vulnerability. Release notes aren't detailed, but it improves the unconfirmed tx queue such that full nodes (or even regular clients) won't be shut down if the network gets stressed. https://github.com/burst-team/burstcoin/releasesThank you for the informative reply. Are you a developer or a contributor in Burst? I noticed you have the Burst icon on. Anyway another thing I want to know is Proof of Capacity's development still progressing? I think its the feature that will give Burst more value than the others. |
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There are some people out there who are doing a smear campaign against BTC and to misinform the masses. Maybe they want BTC to crash or maybe they view it as a threat to their interests.
Too bad for them, its going to $100,000/BTC or bust.
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The "Demonitization" attempt to flush out undeclared wealth, has failed according to this article : http://www.bbc.com/news/world-asia-india-41100610The subsequent result of this was actually catastrophic for India's economy. A lot of people lost their jobs and the real estate sector look some huge knocks. In a proper regulated "Bitcoin" environment, people will find it difficult to hide their wealth. Yes, it is a problem in the unregulated environment, but it will be easier to monitor it within a regulated environment. ~~ What would your solution be, if you were confronted with this problem? ~~ Can Bitcoin regulation help to solve this problem? ~~ Should Bitcoin support governments in monitoring wealth and honesty in tax reporting? ~~ What will happen if Bitcoin is used to circumvent measures to hide wealth? ~~ Will full transparency destroy financial transparency? Share your thoughts on this matter please. I am curious to see how honest Bitcoin users can be with their views on this. Ok, but what would happen if the people who want to hide their wealth start using the anonymous cryptocurrencies like XMR, ZEC and DASH? Maybe its time to accept that this is a whole new world out there with full of disruption. |
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hello,
thanks to everyone for the answers.
as you can understand I've not so much experience at coding and security... but I have the capital to invest.
I'm looking for coders, penetration tester, designers, etc...
the second question I would like to do about building the exchange:
better and safe rely on freelancers or put togheter a team?
the reason for this question is only from organizational view!
Even if you have the capital and all the funding, the real question is do you have the experience in managing a start up exchange? Do you really know what you are doing? As I have suggested before, its better to get the experience by working in an exchange and them going out on your own. |
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Was the Burst network itself DDOSed or was it just the website and the web wallet?
I also want to know how far in development is Proof of Capacity in concern with security and its efficiency? And are there more developments coming? Ty.
The network was SPAM attacked: it was flooded with transactions that caused stable nodes to run out of memory and drop, causing the chain to fork. As well, a number of pools/forums were DDOSd. All is well now though (1 chain, forums and pools online). That sounds really bad for project that aims to be used as a currency. What did the developers do fix the fork? Did they roll back the blockchain to kill the fork? Will the same spam attack work and fork Burst again? |
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Hi Cryptogladys, the fact that you are here in a BTC forum looking for open source code for an exchange means that you have no experience in coding or starting a tech start up. Am I correct?
If I am, then it would be better to start a simpler BTC business. First, gain some experience in managing coders, securing a site and most importantly raising money from investors.
Another way to gain experience in running an exchange is to work for one.
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Was the Burst network itself DDOSed or was it just the website and the web wallet?
I also want to know how far in development is Proof of Capacity in concern with security and its efficiency? And are there more developments coming? Ty.
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Im in the same boat as you. I too hate the idea of a regulatory body overseeing everything and putting their noses where it shouldnt be. But with all the scammers having a good time taking every gullible person's money, some regulation is ok as long as it doesnt stop innovation.
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I don't know much about how BTC or ETH works, but why all cryptocurrencies takes so long to confirm a transaction. I think even 30s is too long, why cant it be instant like PayPal?
Propagation of your transaction is almost instant but proving that your transaction took place and its confirmation will take more time. But once your transaction is confirmed, you are assured that its valid and it cant be changed or erased from the blockchain. In Paypal your account can be locked and your transactions can be changed using fiat. But its just really numbers in a screen, with BTC every transaction is made using the actual currency and it cant be changed and censored. The time taken to make a transaction happen in BTC is worth the wait. |
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