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News: Latest Bitcoin Core release: 27.0 [Torrent]
 
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141  Economy / Speculation / Re: Now That Bitcoin Is Under $1000 Again.. on: January 05, 2017, 02:56:18 PM
Probably last chance to buy under $1k
142  Local / 中文 (Chinese) / Re: 那么你们在哪里认为人民币会崩溃?政府会介入并停止崩溃吗? on: January 04, 2017, 08:41:52 PM
经济规律不是政府可以随意操控的,美国如此强大,也还是有过大萧条,30%人失业。

另外现在一线城市有多套房的人,我劝你们还是考虑开始卖吧,以前我都不劝人卖房,今年感觉确实要出大事了。你们丫也别太贪了,真以为北京上海一套破apartment值上千万了?

卖房拿到的人刀也赶紧至少一半换成美刀,就算没门路的找黑市换也换了,人刀应该是要出大事了。

政府一直都在采取措施控制着,政府没倒,人民币就不会倒,想太多...
143  Bitcoin / Bitcoin Discussion / It's about time to start rewarding full nodes on: December 22, 2016, 03:59:38 AM
Bitcoin currently only have around 5k full nodes, this is less than back in 2013, when we were hovering around 7k full nodes.

As the chain is getting huge, quickly. It's no longer trivial to host such big blockchain, the disk space and bandwidth expense is quite high.

We will need to start discuss rewards for hosting a full node that stores the full blockchain, they add a lot of value to Bitcoin and it's unfair that they have to do it for free.

144  Bitcoin / Bitcoin Discussion / Re: Notepad++ Accepts Bitcoin Donations; Message to Other Apps? on: November 04, 2016, 01:26:13 PM
ya this is old news, notepad++ been accepting Bitcoin for a long time, why did this become news now?
145  Bitcoin / Bitcoin Discussion / Re: Bitcoin IS basically DESTROYED on: August 05, 2016, 03:03:21 PM
Proof of Work is a joke. It will always end in disaster (centralization of mining power, mining cartel, waste of energy, collusion, ease of attack).

Just look at how easy it is to attack/destroy a PoW altcoin (pro tip: it's really easy).

Well guess what, Bitcoin IS the "altcoin" in the real world of mega-banks, it's really easy to destroy Bitcoin by buying out PoW miners and attack.

Only a proper implementation of Proof of Stake system can work for the long term and resist any attacks.

146  Bitcoin / Bitcoin Discussion / Re: Bitcoin is fundamentally broken and unviable in current form on: August 03, 2016, 06:19:30 PM
I do not wish to endorse Bitstamp but they recovered almost elegantly from their loss a while ago.

I really don't think finex will do something similar.

For Bitcoin as a whole this shit is really bad. It's not Bitcoin that's flawed in the end.

It's because Bitstamp had the sense of using cold storage, so only their hot wallet were compromised, and lost a tiny amount of funds, which they covered from their profits.

Bitfinex were legally prohibited from using cold storage by CTFC of US government, so they looked for answers and found BitGo, and thought it was as safe as cold storage, but turns out it's not.

Yes, I read that as well, thanks.
They probably should have implemented cold storage in Hong Kong where their legal entity is.

They have to follow US regulations since they wanted to offer USD deposit/withdrawals directly to US banks.
147  Bitcoin / Bitcoin Discussion / Re: [Bitfinex Hacked] So , learned the lesson ? on: August 03, 2016, 05:10:14 PM
In the future, refuse exchanges that doesn't PROVE it has 95%+ customer funds in cold storage.

Well that sure is going to be tricky. As a service provider, you'd have to prove that the keys to the funds are not stored on any online system, however you can't prove that something is not happening.

It's called 3rd party audit.
148  Economy / Web Wallets / Re: Using Copay as a BTC wallet. Good idea or not? on: August 03, 2016, 03:30:25 PM
If I were to find enough bandwidth use Bitcoin Core as a wallet, could that expose my wallet IP address to potential hackers scanning the nodelist for weaknesses? I'm wondering if that is less secure than other options for somebody running a regular home network, or is it something that generally isn't a problem.

Yes Bitcoin Core will actively broadcast your IP address to everyone in the world that is looking.

It's generally not a problem for a private home network, it's actually very difficult to hack such network. Websites get hacked because they actively offer open ports, databases and services, in order for customers to connect to them. Private home networks are actually much more secure.
149  Bitcoin / Bitcoin Discussion / Re: [Bitfinex Hacked] So , learned the lesson ? on: August 03, 2016, 03:26:50 PM
Can we stop with these "don't keep your coin at exchange" talks? without exchange traders, there would be no liquidity in Bitcoin. There's no way for traders to not keep coin at exchanges.

There are ways to secure an exchange, with cold storage, and so far 0 cold storage has been hacked, so it works. Bitfinex didn't use cold storage, and got hacked, end of story. In the future, refuse exchanges that doesn't PROVE it has 95%+ customer funds in cold storage.

Unless you're trader, there's no reason to keep your bitcoin at exchange, but many people don't care about it at all.
It might be rude, but this must be great lesson for those who still dare to keep their bitcoin at exchange.
150  Bitcoin / Bitcoin Discussion / Re: Bitcoin is fundamentally broken and unviable in current form on: August 03, 2016, 03:16:25 PM
I do not wish to endorse Bitstamp but they recovered almost elegantly from their loss a while ago.

I really don't think finex will do something similar.

For Bitcoin as a whole this shit is really bad. It's not Bitcoin that's flawed in the end.

It's because Bitstamp had the sense of using cold storage, so only their hot wallet were compromised, and lost a tiny amount of funds, which they covered from their profits.

Bitfinex were legally prohibited from using cold storage by CTFC of US government, so they looked for answers and found BitGo, and thought it was as safe as cold storage, but turns out it's not.
151  Bitcoin / Bitcoin Discussion / Re: [Bitfinex Hacked] So , learned the lesson ? on: August 03, 2016, 03:12:30 PM
Prior to the recent breach, Bitfinex was claiming that they were using secure cold storage and multisig.
They claimed that they had used cold storage? Source?

I've found that claim as well on their website, which can be viewed though Google Cache.
Source: https://webcache.googleusercontent.com/search?q=cache:UvrqjyGeBZYJ:https://www.bitfinex.com/posts/30

But I've also read a couple of articles that claim they were not using any cold storage.

They were legally prohibited from using cold storage by the CTFC of US government. That's why they went to the next best thing BitGo. Which turns out to be a disaster for them.
152  Bitcoin / Bitcoin Discussion / Re: Bitcoin is fundamentally broken and unviable in current form on: August 03, 2016, 05:50:27 AM

So along this theme of btc is broken will they pay back the 60 million in btc or will the exhchange go belly up?



It's just like a bank robbery, if the robber made off with more than the bank can cover, then yeah it will go bankrupt. Though in the US your deposits are insured by FDIC up to 250k. It's a good idea to now start using exchanges that insure their customer deposits, ie. coinbase
153  Bitcoin / Bitcoin Discussion / Re: Bitcoin is fundamentally broken and unviable in current form on: August 03, 2016, 05:48:49 AM
Bitcoin is broken because third parties continuously fail to secure their private keys and thus can't make good on their IOUs?

If you say so.
But I'm always curious the factor can make the third parties always fail to secure the private key?Whether is always there are a chance it's caused by hacked or other intentions from the intern factor.

It's almost always due to failure to secure the funds in a cold wallet. So far 0 properly secured cold wallet has been hacked (ie. coinbase/bitstamp).
154  Bitcoin / Bitcoin Discussion / Re: Bitcoin is fundamentally broken and unviable in current form on: August 03, 2016, 05:43:15 AM
Why would a company have $72,000,000 us dollars worth BTC not secure.

I'm sure they believed it was secure. That is the problem. Nobody knows how to ensure security. Pat answers like 'cold storage' or 'offline paper wallets' don't cut it. There needs to be some ironclad, ecosystem-wide protocol that all but ensure against wholesale theft like this.

There is, it's exactly called "cold storage"/"offline wallet", exchanges that religiously follow this practice are not hacked, ie. coinbase/bitstamp as they put 95%+ of their funds in cold storage. Bitfinex did not, they had 120k Bitcoin in bitgo, which is essentially a hot wallet.

155  Economy / Speculation / Re: Do you think that the current dump is going to destroy the image of bitcoin? on: August 03, 2016, 05:27:43 AM
Honestly, I always believe in the blockchain. But bitcoin as a whole already doesn't have any good reputation anyways. This will definitely destroy the price, but not the technology.

fwiw.....Bitcoin needs $500 MINIMUM in order for it being worthwhile for the miners to continue mining and maintaining the network.

Difficulty will follow price, not the other way around. There's absolutely no minimum on price. PoW is bullshit anyway, PoS is the future.
156  Bitcoin / Bitcoin Discussion / Re: Bitcoin is fundamentally broken and unviable in current form on: August 03, 2016, 05:18:28 AM
I only transfer to coin to an exchange to cash out.  Bitfinex supposedly had all the coins that were stolen in cold storage so explain that.

They weren't in cold storage, Bitfinex had 120k Bitcoin in essentially a hot wallet.
157  Bitcoin / Bitcoin Discussion / Re: actual number of people using Bitcoin? on: June 29, 2016, 02:39:11 PM
Is there a way to determine the number of people who are actually using Bitcoin till date? Who would have access to such information? Meaning a way to find out, how many new people have used Bitcoin in 2016 , so that we can say exponential growth is natural not artificially created by hoarders.
it possible to determine the number of people who using bitcoin, i think it is easy to determine on small scale, like number of bitcoiner on one country, as for me there are 159.804 members already registered on our local exchanger which is all of members need to provide their identity to open an account, it means there is no way to duplicate or something else, but this method only working on exchanger that need kyc for verification purpose
There are allot of bitcoin users the value cant be know the only thing you can know is how many coins there are in the world you know
I think there are more than 100 million bitcoin users but i cant knwo for sure offcourse.

100 million??? lol, there isn't even 10 million. I estimate there's at most 2 million people that actively uses Bitcoin tops.
158  Economy / Speculation / Re: Price predictions for after the halving on: June 26, 2016, 02:57:52 PM
Last halving had price go from $25 to $1250, so about 50x gain.

Now let's say price is $700 pre-halving, 50x gain is $35k. So potentially reaching a high point of $35k/Bitcoin within a year or so.



The higher the value the more fresh money you will need to achieve crazy runs like that.
I think with a 2x we could be more than happy.After the halving and with a delay of a few months we will see this growth going to happen I believe.

50x of a 10B market cap is only 500B, or roughly 0.2% of US federal debt. It's far from unreachable high territory. I would lower my expectations once we reach trillion territory.
159  Bitcoin / Bitcoin Discussion / Re: I am pretty confident we are the new wealthy elite, gentlemen. on: June 26, 2016, 04:01:04 AM
You're one of the ultra rare lucky ones. Talk to the thousands of people with money in Mt Gox, Bitinstant, ButterflyLabs, Gaw Miners, MyBitcoin, Pirates Ponzi, Bitcoinica, Bitscalper, Inputs.IO, Vicurex, Cryptorush, TradeHill, CryptoXChange, GBL, Just Dice, Bitcoin Rain, The Silk Road Seizure, Sheep Marketplace, BS&T, PicoStocks, Bitfloor, Basic Mining, Mintpal and many, many others.

Why is Just-Dice on that list of ponzis, scams, hacks, and thefts? Just-Dice took care of the over 60,000 BTC entrusted to it and returned it all when it shut down.

Ok, you found one that was corrected. The point remains that Bitcoin facilitates loss in a way that no other payment system does and has no insurance or fraud protection covering it. I was one of the lucky ones that made money when you could mine with a gpu at almost no cost other than electricity. From now on, people will need to put their own money in to it and they will only make money if they live long enough to see an enormous increase in the exchange rate. It's a gamble that may pay off but it's high risk.

There are many secure investments that pay 10-20% a year. If you start today with $10,000 and average 20% a year for 20 years, you'll have over $380,000. Add $2,000 a year to the pot, and you'll wind up with $756,751 after 20 years. Granted, 20% a year is not super easy to achieve. But even if you only make 10% a year, you're still going to become very wealthy over the long term. People are getting scammed or throwing their money at gambling bitcoins because the return isn't happening fast enough for them. They should simply try a stable long term investment.

What you said has nothing to do with Bitcoin. If you invest your USD cash with a shady startup, you have no way to get it back neither. It's naive people making bad investment decisions, has nothing to do with Bitcoin. Bitcoin behaves just like USD cash in terms you never get it back if you lose it. Any "guarantee" or "security" of USD comes from a 3rd party service (banks/insurance companies)
160  Economy / Speculation / Re: Price predictions for after the halving on: June 26, 2016, 03:56:51 AM
Last halving had price go from $25 to $1250, so about 50x gain.

Now let's say price is $700 pre-halving, 50x gain is $35k. So potentially reaching a high point of $35k/Bitcoin within a year or so.

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