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1481  Bitcoin / Bitcoin Discussion / Re: how can you be sure that exchange platform is trustable? on: December 12, 2017, 05:14:34 PM
isnt it risky to remit so many funds to a company (for example coinbase or etoro etc)
which you have never seen? or does not even have a telephone number/registration number etc?

how can you be sure that this exchange website is trustable or not

what if they say we refunded your funds, but in fact they did not?

what are the criterias we shall consider?

thank you!

I picked Coinbase which are happy to take your money without much trouble on buying after charging you 3.99% and I clicked a link from Google that offered me
$10 worth of free BTC if i spent over $100 after signing up but i did not get these free coins and Coinbase does not answer emails.

Gets much worse because i should have some bit-gold since i purchased the coins before the fork and they won't give me access to them by putting them in my
account and I suspect they are printing there own BTC because when i checked using the public BTC address that they gave me I was surprised to find no transactions
on the account in the official block-chain.

I did a test using Coinbase to sell coins and get some money back into my bank account and you have to set up a SEPA transaction and send them a euro
before they can send money back to the bank account used to buy the coins in the first place and then when they send the money via SEPA to your bank it
needs converting to euro's and then your bank has to covert them back again and this all costs money.

In short you need to sell $120 of BTC to get just $90 back into the bank so I am far from impressed with the service and they have not even given
me a public address to use on my ETH account so I suspect they printed these themselves and they hold fakes on the internal database that credit
on-line accounts.
1482  Other / Off-topic / Re: Is bitcoin dangerous ? on: December 12, 2017, 01:58:43 PM
Bitcoin is not dangerous. I think it needs a bit of time for governments. Perhaps in the near future, most countries will accept bitcoin payment. Bitcoin can improve the efficiency of payment, it is not inflationary, it is lower than the banking industry.

I see lots of inflation and the amount of tokens doubles each time a new fork is created and correct me if i am wrong but Coinbase
creates BTC out of thin air held on account because I cannot see mine in the public block-chain and then we have the new futures market
and derivatives and it is just this sort of activity that has been used to manipulate the price of gold/silver down.

Would be nice for me to get access to these Bit-Gold coins that i think i own because I owned BTC prior to fork but i have a feeling that I can
kiss them good bye myself.
1483  Bitcoin / Bitcoin Discussion / My Coinbase BTC is not in the block-chain and I have no ETH address on: December 12, 2017, 01:41:47 PM
After buying BTC from Coinbase they put the coins in a on-line account and gave me a public address so I understood that the
coins that they hold for me were in the public block-chain but when i checked the balance of the account using an on-line API
I discovered that the account had no transactions against it.

When taking some profit out of BTC using Coinbase the transaction completes in seconds so surly they are not waiting for the next block to be written to the block-chain

Later I also purchased ETH using Coinbase and was expecting them to give me a public ETH address that could be used to receive money from but they never did.

How would I know if they are printing these bitcoins themselves that are held in my account and would this not lead to a situation where we have a lot more
coins flying around than we think we have which is just what happened to gold/silver and resulted in market fixing.

1484  Economy / Speculation / Re: Price forecast of BTC in coming days on: December 12, 2017, 01:04:12 PM
The BTC has increased from $ 10,000 to $ 17,000 in a week, and people say that the bubble is about to break, I thought too. And it went down $ 13000 in 2 days, and again $ 17500 in 20 hours. and now it's moving around around $ 16000. What are your predictions? Up or down. And give the reason for that prediction. Thank you.


Late on the 8th Dec 2017 the price for BTC reached an height of $19,340 which is way up on your $17,000 and I witnessed this with my own eyes
and yet all the major charts seems to have doctored the peek down to high 17k range

What concerns me is inflation in the system because i found out that the public address given to my by Coinbase does not have any transactions against it
in the BTC block-chain so this could well result in Coinbase creating it own internal representation of BTC and putting them in to my on-line account so these fake
coins will result in inflation because the system will have a lot more than the current 16m coins flying around if this carries on.

I sent coin base an email about this but don't think they will reply and they also store ETH for me and never did give me a public address for the account
so maybe someone else here can set the record straight for me.
1485  Bitcoin / Bitcoin Discussion / Re: Was bitcoin created by artificial intelligence? on: December 12, 2017, 12:50:46 PM
The last couple of days I have been reading a lot of articles that describe the possibility that Bitcoin was created by AI. First I thought this idea was kinda silly, but the more I read about it, the more plausible it sounds. If this is true, we should dare ask the question why an AI would create Bitcoin.
This video describes that very possibility and elaborates on the motivation of that AI

https://www.youtube.com/watch?v=gK2jkkB2yyc

You ask a good question and they have this AI machine that looks like a woman and took question from reporters
and 'it' said that she wanted to have a family and that man would be doomed if they did not work with AI

See https://www.youtube.com/watch?v=E8Ox6H64yu8

Well soon AI will invent its own computer programming language that we humans won't understand and this new code
will needed to be deployed to distributed servers across the world so that once the AI is running then nothing can stop it
and what better way to do this than exploit all the spare capacity offered by alt-coin servers   

Soon mankind will be knocked off from being at the top of the food chain and know it or not but we are helping this to happen.
1486  Bitcoin / Development & Technical Discussion / Re: Private key to public key equation on: December 12, 2017, 12:31:19 PM
Thanks for your reply. Appreciated. However, it does seem like the tool is doing all the work for me. I'm trying to learn how the calculation works myself.
I did understand that you need to multiple the decimal representation of my private key with base point G, however, I did not understand how the multiplication actually works.

I did try to simply convert the private key (0x18E14A7B6A307F426A94F8114701E7C8E774E7F9A47E2C2035DB29A206321725 -> 11253563012059685825953619222107823549092147699031672238385790369351542642469) and multiply it by base point Gx (55066263022277343669578718895168534326250603453777594175500187360389116729240) which gives us BD4FD5FB7A2267DCBAFA00828EF916804FE307BE10C66D70DF06E7504A7252B5ACA70B176876047 473923124DD35521DC45FF99FDC337551BCE746CC7AA10F8 (which is not the public key).

Like you, I like doing things myself and tend to work in C# on windows machines using Visual Studio and my options are to use NBitcoin from Github which is a mega large
project and build a wrapper around it or cheat and use BTC HTTP API's when really i want to use Net.Sockets and post my own bytedata off over TCP but it seems like talking to
nodes directly has been implemented in such a way that makes this far too complicated even to someone like me that before now has written a bit-torrent client from scratch.

Maybe we should team up if using the same tools
1487  Bitcoin / Development & Technical Discussion / Re: Transaction Cost Problem on: December 12, 2017, 12:07:52 PM
Hey,
what is the current status regarding the transaction cost problem?
Is the team working on a solution?


Yes this is a major problem on BTC and has put me off using the coins when the cost can be over $20 per transaction and at the start of the year the cost was
something like $0.00001 and the miners should take profit by mining new coins and competing to add new blocks the the block-chain.

Unlike 99% of people I am not a big fan of the block chain because it's too slow and complicated to stop double spending when you have to process and check
history on all the inputs to a transaction in a database that is already 200gb in size and have all the energy and GPU power being wasted as machine compete
with each other to find out who is fastest at counting grains of sand to win a prize for the miners.

Cost something like 120KWH of electric just to confirm a single transaction so yes the block chain solves one problem and made ten more as I see it
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