A lot and usefull information you letting me know about all prediction and period in just one single post,well the concept of bitcoin distribution its amazing,and at the moment all people know thats there is a limit till 2140 but the question is what will happen in 2041 as the mine will be over,miners wont turn off,otherwise the security of bitcoin would be lost.
Miners will continue mining, because in theory the transactions will increase and then the miners fees will be more than the block rewards. Miners will then compete for the bigger miners fees and not really for the block rewards. You will also find that big businesses will rely on the Bitcoin network and will build infrastructure to support mining to keep their other businesses going. This is still a theory and that's why we still call it an experiment. ^smile^ |
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I dont see why this should be blocked anymore than ASICs were. If it works then eventually everyone will use this process and "standard" ASICs would be obsolete. Just like FPGAs, GPUs and CPUs.
I think the problem is more with the patent. It would effectively create a monopoly on money, if only one company can dominate the manufacturing and supply, because they are protected by the patent. A global patent would stop other competitors from entering the mining scene. It's supposed to be a free market. ^hmmm^ |
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Using your real name will be stupid, because any average hacker will be able to link your real name with other services and they will also be able to dox you. If you used any pets names or surnames or something personal as a password, it will also be easier to figure out what your passwords are.
I never use personal information for any service, because it increase your risk profile.
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There are some brilliant videos on Youtube explaining this, if you just search for the Math behind Bitcoin. In one video they compared private keys to the sand on earth and said, if you took all the sand on all the planets in our galaxy, then you will still not cover all the combinations that could be created with Bitcoins algorithm.
I think it is a bit extreme, but it gives you an idea what the probability will be for this to happen.
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I would go for something that would represent both the internet side of things and also what it is used for. A name like iMoney < Internet Money > or even Dcash < Digital Cash > The coin in the name Bitcoin is confusing, and people associate it with fiat coins and think it has to be physical coins.
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Post what comes to your mind.
Absolutely not. Read the whole thread from top to bottom to see what other people have posted and then respond to the thread. We have too many people on here, that repeat what several other people before them have posted and it adds no value at all. Do proper research on the topic and stay with the subject matter and main idea with the thread. You cannot simply jump in and add rubbish to the thread, because that is non-constructive. If you can post source information, for the things you are saying, please add them. We have too many people, who simply copy and paste other people's posts and then just make minor changes to make it look like they created it on their own. Constructive posting is hard work, when done right. |
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Believe it or not, I lost the most on a well known faucet site, with a gambling option built in. I experimented the previous day on the site to see if they built in any martingale counters, and I picked up that they did not. I pushed it a little that day, just to see how far I can go and I ended up with 0.4 BTC profit.
The next day, I decided to go back and push my luck again... knowing that they did not have martingale counters, because I tested it the previous day. I think they picked up on that and when I got to 0.3 BTC it cleared my account with a martingale counter.
I deserved what happened to me, because I wanted to exploit a loophole within their system and I failed. I went back again and gambled the last 0.1 BTC just to double check, and it happened again. So I did not lose anything, but it was still the biggest bet I have made in one go on a site. ^smile^
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it's weird that such a large bank advices people to sell everything. i don't mind it because people will look for different things to invest in. bitcoin is the perfect option. if these investors do invest their money into bitcoin, then prepare for a new ath.
This time around the spike should be in the $2000+ region right? If a lot of scared people invest in bitcoins if there is really a big stocks crash it should reach these prices without breaking a sweat. i don't know how high the new ath will be, but imagine what a few extra billions of fiat comming into bitcoin can do with the price. I doubt that they will run to Bitcoin as a safe heaven? Bitcoin has been too volatile in the past and the complexity of the technology and it's bad reputation will turn people to old commodities like gold and silver. I agree, if some of them turn to Bitcoin, then we will be looking at a much stronger price. People are getting used to warnings and they seldom react to it, which makes the impact so much more intense when it happens. |
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If I had invested my savings in Bitcoin would it be more likely to be broke?  Keeping in bitcoin your savings have quite some advantages, like if you are married, in a divorce case your wife gets pretty much nothing, which is different if you keep in USD. Don't tell her about your bitcoin wallets  lol. Now on a serious reply , in long term many people and me too think that bitcoin price will rise in future so it would not be more likely to be broke, it would be more likely to have a bit more money in the worst case or be rich in the best case. If your wife gets a clever attorney, you will be f#$%ed. You have to declare all your income and expenses and if they pick up that you had bitcoins stored somewhere and you did not declare it at the time, then they will force you to sell them, depending on your marital contract and also charge you interest on the money she should have received. That is how it works within my country. Do not lie to the court, you will be slapped with criminal charges on top of that interest. On topic : Never invest more than what you can afford to lose. Bitcoin is seen as a high risk investment. |
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The news that Craig Steven claimed to be Satoshi Nakamoto made it onto the whole bitcoin community. However there is no huge impact on the Bitcoin price. However, in my opinion, what Craig is doing is not influencing the price of bitcoin, rather he is trying to sabotage the bitcoin developers and the whole community. His claim is backed by the maybe confused Gavin Andresen. And every bitcoin developers think that he is a liability to the team and even had his access revoked. I'm not saying that Gavin Andresen is right but slowly but quite obvious someone is trying to tear down the whole Bitcoin community.
This is my speculation but the government is slowly making a problem in the community until one point they are replaced by the government. The pseudonymous bitcoin maybe will not be so secure once it is controlled by bitcoin and maybe even we are not in control of our bitcoin like fiat money.
Looking back, the Mt. Gox problem is also worth to be wary about. The exchange company once marks the highest price in history of bitcoin was hacked. I mean if someone hack a exchange company there will sure be panic and price will decline sharply, even if someone want to sell it they need time to sell it and it disrupts the balance of bitcoin price. Why do hackers do that? Or there is another agenda is going on behind it?
If we see the graph of the price we will notice that there is a steady increase in price when the China opens for bitcoin and EU declares no VAT on bitcoin trades.
This is just my own personal opinion you can condemn me if I am wrong. Please be polite however, and try not to use vulgar words.
The hackers will exploit weaknesses in centralized services and they are driven for the monetary reward. The exchanges are the best target for these people, because large quantities of coins are stored on this systems. Until today, no hacker has hacked Bitcoin by encrypting the private key, and I doubt if it will ever be done, so they shift their attention to the things that can be hacked. < Exchanges > Disclaimer : Some hackers < White Hats > will not exploit the vulnerabilities for monetary reward. < Stealing coins > |
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I'm not sure that Russia should' be on this list.
Recently, there was some news that Russia will ban Bitcoin.
I also heard somewhere similar news about Venezuela.
Zimbabwe is not democracy but dictatorship.
I don't understand on the basis of which criteria is made this list?
I'm sure that a few countries shouldn't be there.
Why not ? The news was about Russian Government banning conversion of bitcoin-fiat which is a good thing I suppose.You can read the article here http://www.coindesk.com/russian-minister-confirms-plans-to-ban-bitcoin-to-fiat-conversions/Venezuela on the other had has dire situations ,their government sees bitcoins as a currency for cyber criminals.Who said Zimbabwe is dictatorship ?  They have a nice list of Parliament members and the city councils.The above list is accurate however the missed out other Asian countries where rapid grown is seen compared to the one's in the list. You can have a Parliament and city council and still have a dictatorship ole friend. If the president makes all the decisions and he force his will onto these people, you will have a fake democracy and a dictator as a president. I would add South Africa to this list, because they have been growing faster in Bitcoin than any of these developing countries. Venezuela should be on top of that list. |
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We have a nice thread that proposes AnonyMint's view that Bitcoin('s decentralization) IS in fact destroyed at the very moment, by Chinese mining operations.
I say the opposite: Chinese mining operations live off Bitcoin, which is an American invention. Bitcoin is alive and kicking as can be; network is doing amazingly well.
The Chinese is no threat to Bitcoin, even though the mining is centralized in one geographical location. If they go down for some reason, Bitcoin will still operate on the remaining hash power and more people from other countries will take their place. They cannot misuse their power, because it will hurt their pockets too. As for Satoshi being an American, I'd say " nope" The only people who believe that, might be the Americans. He is most probably from the UK. ^smile^ |
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What I'd do if I were in your shoes is I'd create several wallets to put about 20 BTC in each account. Then, I'd create an account in a local exchange site with the least minimal fee and convert about 10 BTC to fiat, at a time. It's not the fastest way I could think but security of transfer and conversion is my priority here.
At what dollar value, does the banks flag fiat transactions like this for AML requirements? $10 000 or less? Not that I am saying that I would want to avoid auditing, but I do not want to go through all of that, every time I get a deposit from a bank from an exchange. I would rather buy property, when the price is high and then keep that as an investment. ^smile^ |
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I like it when people think outside of the box and come up with something with a little twist on the original. I think this will grow in something bigger, if you could increase the rewards a little and also increase the referral percentage. Bigger faucets gives out as much as 50% referral bonus to grow membership aggressively.
Good luck with your project. ^smile^
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A while ago, when credit card companies and PayPal stopped people from doing business on http://www.backpage.com/there were a huge recruitment drive going on to shift these people over to Bitcoin. So now you see more and more of the Adult services there linked to Bitcoin. If we want them to continue accepting Bitcoin, we must use their services and pay with Bitcoin. ^smile^ A innocent message without a happy ending, is still lots of fun. |
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Hey let's apply the saying "Those who forget the past, are doomed to repeat the same mistakes" The whole anonymous coin and wallet idea was cool at the time, but full anonymity will never succeed as a mainstream coin. The governments and the powers behind them will never allow it.
Bitcoin is being tolerated because it's pseudo anonymous and basically the same as cash. What happened with Amir Taaki and Cody Wilson? You seldom hear anything about them these days. Did I miss something?
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I like to diversify and do not concentrate only on Bitcoin. I bought some other promising pump n dump coins like ETH and also some government coins like Ripple and for the anonymous pump n dumpers, some Dash. I still have some LiteCoin and DodgeCoin.
If I see a upward trend in BTC or any other coin, I would just shift things around a bit to adapt to the changes and to cash in on the profits. Most of these coins end up as fiat or BTC in any way.
If I can double my coin count every year, I would be more than happy, but that would be unrealistic. I think a 30% increase per year, would be a lot more conservative.
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Didn't know until now that USB sticks could become useless altogether after years on inactivity. Is this also applicable to the sticks which are produced in the last few years? I have yet to back up my wallet in any USBs so this is a great piece of advice that I just came across with, for future reference.
Magnetism wear off after a while and the media it is stored on also deteriorate after a few years. If you plug it in and leave it for a while, the magnetism will increase and it will last longer. Just use a offline computer when you doing this, or your data stored on the device could become infected or even collected by a hacker. In any way, this is how it was explained to me. I hope the guy was not pulling this out of his ass. ^smile^ |
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Is Chinese so technology advanced now? I don't even have a proper device to view it.
Please recommend a VR device to view this video.
Made in China is okay, as long as it is not that pricey.
This mostly shows the poor conditions in what people there work, seeking only profits from mining at all costs. Its so dirty and built as an abandoned warehouse, dont see what tech advancement you see there. btw made in china mostly means garbage, 99% of the time. As far as VR devices go, you dont need one to take advantage of VR videos, just use your mouse to look around all the angles, as you would on google street view. I agree they are still in sweat shop condition. I want to lean how to play with VR footage, I feel I am falling behind, I don't know how to view this video, let alone how to generate on of such cool videos. You do not need any special devices to look at the video in 360, just go to it on you phone or your computer and watch it. On the computer, you navigate with your mouse, but it's best viewed on your phone, because you can keep your phone stationary and move around as if you are walking and turning around. G8 technology! I guess it's remote, because it is close to the power source. |
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In fact I don't know why most central banks are still ignoring bitcoin, but are often recommending people to stay away from it. Perhaps government is not believing in the sustainability of altcoins in the long run.
They want to protect their own local fiat currencies and they have to stop things like capital flight. The governments doing this, is mostly corrupt and they have hidden agendas. The more honest governments < There are not a lot of them > says they want to protect the consumers against a possible threat, but that is also just a story. The central banks are puppets for politicians to protect the interest of rich individuals and investors. If these people do not want Bitcoin to succeed they will use the governments to stop it. |
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