The worst thing for me, is when banks flood you with more credit than you possibly can handle and when you get in trouble <card skimming or online fraud> they just wash their hands. They always find some reason to blame you. They also sell you insurance for these kinds of exploits and make some extra money out of you, by doing this. Bitcoin allow you to determine your own loss, if and when something like this might happen. The thief's and hackers do not have access to loads of credit that you cannot afford to pay back, only the coins you have in your wallet at that time. So you manage your losses, by using Bitcoin responsibly.  |
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Although I agree it's a great opportunity for bitcoin in these fields, the biggest argument against it is companies that need to prove the clients are 18+. Bitcoin's anonimity doesn't make that very easy.
It is not as if other payment methods are any easier to stop underage people from accessing these sites. The young people have been bypassing that for ages. Just look at the laws applicable to underage drinking. Do you think that is effective in any way? Stolen credit cards are being sold online for years now, and it is just increasing day-by-day. |
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Only problem with this is, we need to take in consideration that most countries see Bitcoin as a commodity, and it's even more interesting when you compare Bitcoin to the other commodities. It will also out perform things like gold and silver and platinum for that matter.
You need to look at it from all sides to get a better picture. ^LoL^
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Ok let's ask ourselves this question : Would you build your business on top of a technology controlled by external entities that are mostly unknown? The banks want something they can control and change, when they want to. They do not want to wait for a BIP to be proposed and then for some unknown entities to reach consensus and to decide if it is viable or not. How do you build a business around all those uncertainties? They would rather create their own <Private Blockchain> with developers they trust and then manipulate the protocol in the way they want it to work. We cannot ignore this, and the latest Core vs XT fights are not helping to bring them to the table. Our fighting and indecision are pushing companies toward <Private> alternatives and Alt coins. |
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I also bought some coins when the price was high. +/- $400 Since then the price averaged around $200 - $250. I then saw this trend and bought when the price dropped to $200 and sold when it reached $250 < My profit = $50 give or take a couple of fees > So my loss is now less and I can once again buy when the price goes to $200 again, and repeat the process until I have made up my losses on the first $400 purchase.
Or I can wait until it reach $400 or $500 or $800 for that matter, but I chose to reduce my loss and to increase my profit. You have this option, wait or re-invest and work away the loss until you return your investment or possibly double it.
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I think investigations are still ongoing and he isn't fully on jail now. Apparently he will be on jail for at least 7 years, which is nothing compared to what would he have gotten in US. He will leave in 7 years and by then the Bitcoins he has stored (which im sure he has undetected BTC stored somewhere) will be worth millions.
7 years is still better than nothing Im pretty sure 7 years is enough for the prisoners to bully the crap out of him  But i agree with you, he should stay there longer  7 years is just a petty punishment for someone who let $500m dollars be lost in the void. If he was jailed in the US, I doubt that he‘ll be free in 20 years. There is serious money involved here. That's why i said he said should stay longer Are there anything the bitcoin community could do to make him stay in jail longer ? Maybe make an online petition for him to stay longer in jail or something like that  Make a petition for him to be trialled in the US? Considering that most victims were there. But idk, Mt. Gox was Japan-based so he should chill there first and taste hell in US after 7 years. that would be great idea , but its impossible ,just heared from my friend that jail in japan not so scary Only if you are the one bending and touching your toes in the shower.  It is such a high profile case and we hear nothing from the press on that side. They are quick to jump on news, when the puppet masters wants them to discredit and shill Bitcoin. I guess it is old news for the so-called CEO of Bitcoin to be in jail. Let's make some phone calls or send some mail and see what pop out. |
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Most of the major players were invited and I wonder whether Bitcoin or the Blockchain will be the dominant discussion point on their agenda. Can someone translate the agenda points for us?
If they talk about the Blockchain, it might be good for China. The global scene are turning towards Blockchain based technology and if they follow that trend, it might be more positive.
China are currently heavily invested into Bitcoin mining, and it will be nice to know that they will be growing a industry around that. It's good for exports and create a lot of job opportunities.
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Why are people so obsessed about the user-friendliness of Bitcoin, when there are so many online wallets and payment processors out there to make it idiot proof? The most difficult decision they need to make, is to chose which of these services are the best and most secure option to take. How many people know how the TCP/IP protocol help the internet to function? BUT they still use the internet? Ask the normal user to give you his or her IP address or gateway or DNS and they will not know what you talking about, BUT they still use the internet. Use the applications and the services and forget about the internal protocols that enable it. |
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Let's be honest for a moment, and agree that first time users of Bitcoin will fall for this. They might have heard about Bitcoin and how much it is worth and just follow the instructions to see what happens. The sender of the email wants to get hold of the ownership of the created wallet. <Why>?
In most cases new users will have no BTC in that wallet, and if they find out after two days that there is no BTC coming their way, they will not bother to find out anything about Bitcoin.
More experienced users will never send them that information, so it will be a fruitless exercise. What do you think?
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If they create the digital version of their fiat currency, it will fail too. It will be built on the same principle of a failing system. The people will have no choice in the matter, because these countries will force them with laws to use their version.
Bitcoin will be banned, because it will be seen as the rival currency and it will be outlawed. Governments have the power to outlaw any fiat or digital equivalent, if they perceive it as a threat to their national currency.
This is why most countries want to ban Bitcoin use as a currency. They want to protect the currency they can control.
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In a way, you have to agree with him. The adoption is slower than it is supposed to be, because the entry into Bitcoin is too complex and technical. We need to remove the obstacles and the only way to do that, is to pay salaries of workers in Bitcoin.
They should not have to rely on exchanges and LB to get hold of Bitcoin, it should rather be the other way around. They should struggle to convert BTC into fiat.
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Their main goal seems to be, to create products geared to mainstream adoption. I am not sure if the first <Bitcoin computer> was so successful in doing that, but it's definitely a platform for developers to create tools and apps for the whole Bitcoin ecosystem. Let's hope the next product from them, will push Bitcoin adoption through the roof. |
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Well for one thing, it would help with the government transparency in the whole procurement system. There are way too much corruption in governments around the world. They should place all government tenders and transactions on the Blockchain, for everyone to audit and monitor. If someone acquired a tender, people who competed for that same tender, should validate that they were not the cheapest option and no money was paid for bribes. |
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If this was one of the people who bought Bitcoin when it was between $1 and $100, they would have posted the opposite of this. It's just bad timing and bad luck for most of the late adopters. Getting impatient will not grow your investment. I have shares performing worst than what you lost on your Bitcoin investment.
Put on your Big boy pants, and work on improving the whole Bitcoin community, but waiting for the price to increase will just frustrate you more.
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I do not know, if the budget concious person will want to commit to a long-term subscriptions for content over a pay-per-click micropayments option. You could chase a lot of people away from your service, if you encourage them to commit to a long-term subscription.
Some people only use some services once for a reason, and do not need a long-term commitment.
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Why not use a combination of methods to split up the risk and also the amount into smaller chunks? If you send to one person in China and do Localbitcoin with 20 people it would be more manageable than risking one amount in one transaction. The banks flag deposits above a certain threshold anyway, even if it is send in chunks over a long period. I hope this is a legal transaction, and not some tax avoidance thing or drug deal, because I do not want to be part of that.
What do you say? ^hmmm^
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Would you mind explaining the 2 of 2 party escrow, compared to the normal escrow agent option? The diagram is not very clear on that. I also like the fact that it's using the Tor network to add some privacy, but it will once again turn into a Silkroad scene. Please explain. ^clueless^ |
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What would be the goal behind this? Is this a white hat, just showing the possible exploits in the network or are there other motives behind this? In the end this will lead to more people not trusting the Bitcoin network and deciding to give up on the whole idea. Yes, Bitcoin was not brought down with this attack, but it is very disruptive. If the goal is to identify holes in the system, it should be submitted to the core developers and tested on the TestNet not on the live Blockchain.
It is not fun anymore and it disrupts business, if it delays transactions.
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Do we currently assume that most of the coins being mined are sold immediately to cover the cost to mine it? If that is true, and the hash rate stay at the same levels and the block reward is lower, more miners will have to sell to cover their cost.
So assuming the price of Bitcoin does not rise enough to cover the difference, more Bitcoins will have to be sold to cover the cost of mining. If we also assume, miners only sold a small percentage of their mined coins to cover their cost.
This will then in theory cancel the greater demand, because a larger percentage of the mined coins will have to be sold to cover the mining cost?
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