Maybe this will happen when other countries do the same. Other payment methods will be applied such as credit card, ATM, debit card and pay by phone. The telephone payment method is being used by phone manufacturers such as Samsung, Apple, etc. It is a new form, fast and anti-theft. We can also apply payment by scanning the QR code via the phone. And in almost a few years, we really do not need cash because we have digital money
We will always need cash. Please remember folks that atms and electronic payments methods are only ubiquitous features of first and second world economies. There is not connectivity in all of the third world; hell thtere isnt even electricity, fuck connectivity. it will take many more decades and muuch more globalization to get to the point where we would consider atm access a "feature" of third world life. Running water isnt even a "feature", as well as dependable access to food and health care. Since fiat has been working just swell up to this point, I dont really see a clear incentive for government adoption. How do you print more bitcoin when you need to swell your currency supply? And how do you stop money from leaving your borders and enriching a rival State? You can't. You can find SMS recieving cheap nokia phones all over the third world. With satellites, such as the one that Blockstream launched, you already have connectivity to the blockchain. This is still very early in the game, but you can already tell the fact that steps in this direction are already being taken. In the future, you will be able to both receive and send with the satellite. Eventually transactions in North Korea will be happening too, with people smuggling phones and gear across the border in an underground fashion. It is a matter of time everyone on earth is connected to the bitcoin blockchain and no government will be able to stop it. |
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Bitcoin is like a dot on the banking system, just imagine the money circulating in the conventional banking system. If they see a threat, they will kill bitcoin anyways.
Who will? How? I have seen posts like this since 2010 and have yet to see an answer. Bitcoin is still not big enough for them to throw a full blown attack on bitcoin, including a ban on both exchanges and possession. I think this could damage the price a lot. Ultimately I don't think bitcoin will kill banks, because let's admit it, most people don't like self responsibility and like to outsource the task of keeping your money safe to others. So I see bitcoin banks being an offer for the bitcoin peasants. Smart people will keep holding their own private keys. |
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You could call "gold" natural money already. As far as I know, gold is part of nature. Gold nuggets pop under the wet dirt in certain places, it is definitely part of the cycle of life in a way.
The big problem with anything natural is the fact that it becomes cumbersome to store, divide and transport. You will never be able to outcompete bitcoin with something that is not digital, which is why im sure we are not going to see anything like that being a threat model for bitcoin.
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That already exists. A will is most often in a sealed envelope, and you just need to add to it the keys to your wallet. Lawyers have been handling those kinds of things for decades.
But this is a different space. Do lawyer even know how to deal with bitcoin private keys? how do you know you can trust them? Has this ever been done before? I would need to see how this actually went down in a real case, I just can't trust people including lawyers. |
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There's absolutely no such need for a service for such a simple problem. How can you trust a centralized entity to give your Bitcoins to your family upon death, when you can't trust your family with your wallet?
It's completely useless, just ensure that they have access to your private keys.
This. Im not sure if I will have kids yet so that's not a problem so far. As far as my family goes, I think it's all our case the fact that none of our family members has any idea of what bitcoin is, let alone how in hell enter your password in your bitcoin core node and take control of the keys (and most importantly, kept them safe). Telling someone else to do it for you is a recipe for getting your BTC stolen from your family. Honestly, I don't even want to think about it. Im still young and I hope I can retire with my BTC, im not thinking about inheritance but how to make more BTC. |
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Hello and welcome  Hard fork and segwit2x is something very complex to understand if you are new, simply take it as something like newer android version. Just like you can't use the apps made for old android versions in the new ones similarly after the hard fork the old rules won't be acceptable by the new ones. Its primarily to make transactions faster. Segwit is something that is primarily meant for increasing the transaction speeds, blockchains accepts 1 Mb right now and now it will accept 2 Mb, and other optimizations will be made so that the efficiency can be increased and speed too. Wrong. Segwit2x is an attack on bitcoin by corporations. You are also not mentioning how the developer(s) from segwit2x are aligned up with corporate-USG interests. You are also not mentioning increasing block size makes running nodes a harder task and you are also not mentioning not running full node makes you a second class citizen in bitcoin. A must read for newbies: https://keepingstock.net/the-corporate-takeover-attempt-of-bitcoin-eb87c18fad60https://medium.com/@WhalePanda/segwit2x-the-broken-agreement-e9035a453c05Support segwit2x at your own peril. |
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Willy Woo, a highly regarded Bitcoin and cryptocurrency researcher, utilizing Google Trends as one of the main indicators of Bitcoin user growth recently revealed that the number of Bitcoin users approximately doubles every 12 months. Woo noted in his report that 26 years from now, if the user base of Bitcoin continues to grow at this pace, nearly everyone in the world will use Bitcoin. User Base: Major Factor For Long-Term Price Surge of Bitcoin
The Bitcoin price is a practical indicator of Bitcoin’s real-world value, relative to other assets and currencies. While many factors affect the Bitcoin price in varying periods, user base, developer activity, and global adoption have been the three key factors behind the long-term increase in the price of Bitcoin for the past eight years.
"What we have here is a steady exponential growth baseline with periodic peaks. These peaks are are inline with price bubbles where more users start checking the price of their precious coins. Taking readings from the baseline results in an order of magnitude growth every 3.375 years. Or expressed in terms of time to double the user base it’s approximately 12 months."
In the long run, if the adoption rate of Bitcoin in major regions such as the US, Japan and South Korea can be sustained, the market cap of Bitcoin would likely surpass that of JPMorgan, the largest retail bank in the world valued at $350 billion, and achieve the trillion dollar mark. https://www.cryptocoinsnews.com/woos-law-bitcoin-users-double-every-12-months-major-factor-for-long-term-price-surge/http://woobull.com/woos-law-of-bitcoin-user-growth-bitcoins-adoption-curve/The question is, what happens once we reach 2018 and that ascending triangle top is reached? will we see a mega pump of several thousand dollars? If bitcoin has to become what satoshi predicted, it would need to keep increasing at an exponential rate. We have reputed analyists like Trace Mayers predicting $27,000 in 4 months, as a non-aggressive prediction:  Im very excited for the next 4 months myself. This is a key moment in history of bitcoin. The segwit2x is a big challenge, but im confident we are going to end up stronger and we will see a massive bull rally of exponential growth as predicted there. Look at 2x futures and you will see how we are going to smash the forkers:  |
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I dont know, and bitcoin can not do it because wealth has already been distributed, only because bitcoin exists doesnt mean that it can make rich everybody, or that a lot of people can be wealth after it pumps to $100k.
And this has already been asked so many times, i am starting to get tired of those kind of threads that are only for spamming purposes.
But no, nobody knows what is going to happen, just try to predict it, it is impossible.
This is indeed a senseless topic but if you do try to understand on what hes saying about on the equal distribution then it is not really possible and can be solved by bitcoin alone because thinking off that all local fiat supply isnt still diverted to bitcoin itself which means this thing is impossible and also think off that even on bitcoin holding there would be no equality for sure since we cant really avoid that there are really greedy people will surely keep and accumulate much bitcoin as they can. It's not really senseless. Wealth distribution, maybe is not the right term, he should have said wealth re-distribution. In this sense, it is perfectly possible that bitcoin delivers the biggest re-allocation of capital ever seen in the history of mankind. Never before people were able to store money out of the reach of any government at a borderless, global level. Every time I fathom this fact I realize how insanely undervalued bitcoin is, and how 3 figures per BTC are a given in the next decade. The ones not holding any BTC are the ones gambling at this point. |
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Spreadsheet Link
PLEASE NOTE:
For week 3 and 4, we will be having a double round, since I will be away on Tuesday and Friday of the next week. This means you will have to do at least 60 posts for the 2 weeks and you will be receiving twice your payment. Sorry for the inconvenience. Feel free to send me pms, since I will still have my mobile.
Week 2 will remain the same though, no worries about that.
Given the fact that I just joined and week 3 is almost over, I don't see myself making 60 posts by october 25th... the ones that joined very recently, can we still get paid if we make 30+ by week4? Do the posts that we make from now to 18th october (end of week 3) count for week4? |
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What makes dotcom and altcoins different is that altcoins and ico's are direct derivatives of Bitcoin, and they are mostly traded against it or Ethereum. This means that if they are in a bubble and this bubble will burst, people will just sell them for BTC and ETH without any direct influence on Bitcoin's price. Bitcoin is still volatile and can be sensible to some events, so it might dip for a short term, but there's no fundamental reason why failure of altcoins would damage Bitcoin in long term. Now, about the roots of dotcom and altcoins. Dotcom bursted because the technology wasn't there yet, so most dotcom companies were not able to deliver their promises - and this can easily repeat with altcoins, since the blockchain technology is also very young still and might not be ready to implement visions of developers. The other problem is scams - many projects are simply luring investors and not doing any development. Both of these factors combined with overoptimistic investors can cause a bubble, so it's quite likely that altcoins and ICO's will burst. Maybe some coordinated crackdown from regulators would be the trigger for it. But Bitcoin will survive because it has delivered all its promises from the start, so when you are investing in Bitcoin you are getting exactly what you've paid for and not some promise of a future value - this is one of the main difference between Bitcoin and most altcoins.
I fully agree. Whatever happened to the many altcoins already in the market will not affect Bitcoin in general. The success or failures of any altcoin won't have any direct bearing on the value of Bitcoin. Now, if all altcoins would suffer some form of a bubble and the market for them will die due to many reasons, there is no reason why Bitcoin can be part of that as each coin is independent of each other. It like saying that whatever happens to the many imitation goods around will not have any negative effect on the original brand and would in fact be a positive one since there can be more market share for the original ones. The same thing with Bitcoin though am not saying that altcoins are actually fake as many of them certainly have their own intrinsic value. We live in an open marketplace and what is happening right now is giving all the coins the opportunity to show what they can do and then we let the market decide. Whoever claims there isn't a bubble with all the dumb ICOs and shitcoins is simply lying to you or trying to sell you their own shitcoin. You just have to go around all these conventions and ask around, they just sound likes sales pitch for scams. Now if once this bursts (which may take a long time, which means there is still time to get rich by alt speculation) will have a negative or positive impact on BTC is yet to be seen. I think it will make BTC correct for a while if there are tons of billions lost in altcoins, but it will quickly go to BTC which will make BTC stronger since all that dumb money will finally be sitting on BTC. |
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Welfare just isn't what it used to be, amirite?
The bot told you what you were going to get and still you expected more?
...
Im complaining because I expected more, I can complain if I want. It was disappointment to link 5 figures worth of BTC and get like 20 bucks. You can complain if you want, but Michail1 is right: the bot told you exactly how much to expect, so your expectations were incorrect. At what are will one get gbyte now for X amount of gbyte hold?
Sorry I didn't quite get that because i heard that that was the goal now, to incentivize holders
Yes, as in Byteball holders, versus Bitcoin holders. And the first goal is to incentivize merchants, not holders. well, at least I got 20 bucks, but the ones that did not dump [...]
So that's the idea right, claim free money, instadump it and whine when the golden goose turns the tap? and got into the early rounds are going to be making a ton of money every month with the increased rates I predict.
So what the hell are you complaining about anyway? You are wrong in everything sorry. The insane reduction in coins issued coupled with the increase of % current holders get is going to make things worse. You can't stop people from freely dumping their coins if they want. Im ok with early movers getting the best rewards but getting 50 bucks off 20 BTC linked doesn't add up, devs should re-adjust what they are doing and reconsider how they are dealing with the airdrop, but after so many changes in the airdrop it will become a joke. This is why I like bitcoin over byteball when it comes to issuing the coins. Thanks to PoW the process is automated and decentralized and we don't need to trust some guy to properly issue the coins and (hopefully) not run away with them. |
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This is one of the most glorious days for bitcoin ever. Seeing it go from below $3000 to above $4000 (now almost $4100!!) it's a beautiful thing. China and JP Morgan are so impotent right now. They can no longer cause FUD on the markets because their word is now irrelevant to investors. As we see, the damage has been done, only way from now on is up.
The people stuck with short positions that were expecting lower prices must be filling bankruptcy right now.
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Running bitcoin core, requires: - Downloading over 120 Gb of data
- Verifying every transaction ever made
- Waiting for a very long time (for it to finish)
Correct and it will always remains this way because it must by design. Use SPV if you want a thin client. Yeah but isn't prune mode better than SPV? Trusting a small part of the blockchain (like said, let's say 10GB for convenience's sake because 10GB is not much these days, and it's a lot of data already for an attacker that wanted to modify the blockchain, it's simply impossible to go 10GB back in time) is better than trusting someone's server by a long shot. The main problem is... the initial sync, for some reason, requires the entire blockchain. For some reason, you can't just download the last 10GB and keep it at 10GB and discard the rest, you are forced to get the entire thing. That is why I said, the holy grail for nodes to be everywhere is to solve this. |
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Lol why you think to buy at highs?
You can wait and buy at bottoms. 3000 is not bottom. wait until it hits 2000
Oh man, I remember you, you are still here FUDding? that's impressive, kind of like kwukduck and proudhun becoming Legendary FUDders. Im sorry dude but $2800 was the bottom, no more sub $3000 BTC ever again. Time to pick up cheap coins before we get back to a new ATH, and once we reach a new ATH after a government bans BTC, we will prove we can cuck governments and banksters beyond any doubts, we are going parabolic and it hasn't even begun yet. Adjust your chart to log and you'll see we are just getting started. |
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I asked for this a while ago, but unfortunately it seems it is not possible to use pruned mode before you download the entire blockchain once. The holy grail would be to be able to run prune mode and only download a reasonable amount of the blockchain like 10GB (because who the hell is going to have the resources to go back in time 10GB of transactions) then you could be able to use Bitcoin Core pruned in 10 GB and without downloading the entire thing but this seems just not possible, im not a coding wizard so I don't know the details but that is what I've heard. Maybe some genius some day manages to give us a prune mode without downloading the entire blockchain once and we can have a legit Bitcoin Core light but I doubt it.
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I owe about $50K on my mortgage. Should I throw 15BTC at it and be done, or keep paying the minimum and HODL the coin as an investment? 15BTC is <20% of my holdings that I purchased at $250/coin back in 2015, by the way. Thanks in advance!
Don't make the mistake of selling BTC, specially at such a low entry point. At $250/coin you can take a lot of punishment and still be safe in the profit zone so you shouldn't panic sell. Forget about this money and look 5 years from now, then forget 5 more years and then you will be retiring. Wageslaving sucks but you owe that money, keep paying it with your wage, if you dump your BTC then you will not have the realistic hope of getting rich in the next decade. You got to have some investments in your portfolio for the long term. |
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It's actually good news when exchanges get legitimated with regulations and licenses. I don't know why so much people hate on this. If you are going to have people buying BTC using the legacy system, at least let's make it the right way so the owners of the exchanges can't scam people trying to buy BTC. I think the next step is for China to do the same, and China will be back once again with regulated exchanges and the price will pump to $5000, but if they don't ,we don really need them, we can pump to $5000+ without chinese exchanges taking part. |
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JP Morgan, the global banking giant, has bought 19,102 bitcoin shares in the Swedish Nasdaq traded bitcoin ETN, translating to around 95 bitcoins, worth some half a million dollars.
They also sold around 9,000 shares, translating to some 40 bitcoins, seemingly keeping the rest, at least for now, according to data provided by the ETN.
 http://www.trustnodes.com/2017/09/16/jp-morgan-buys-bitcoin-price-rises-20How funny is that? The CEO of JP Morgan goes on an interview and says Bitcoin is a fraud and everyone trading Bitcoin on JP Morgan is an idiot and will be fired. Price crashes and hours later the buy a lot of BTC. Looks like panic sellers got played out by the whales again. |
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https://www.youtube.com/watch?v=Uerbns8I2GoIt's good to see the news being brought up by someone that is actually in china, bypassing the great firewall with VPN of course. It looks like China government entered in panic mode about Bitcoin, they saw it's power, got scared so they try to stop it. They want to create their own crypto, which could possibly be Bitcoin Cash for all we know, since Bitcoin Cash is a scam controlled by chinese gov-sponsored miners and vendors. Oh and the price is going back up. This shows bull pressure is as strong as ever without China. Wow..What happened to china government!! What kind of coins they will make i don't think if Bitcoin cash. China government is really playing with this currency. And i also see the price slowly up now looks stable. This guy points at a Bitcoin Cash-China connection in terms of the price, because there was a suspicious green candle when the dump happened. Also there's speculation happening about how NEO could go up since they want to turn it into the Chinese Ethereum. Whatever the outcome with these coins are.. what's clear is, China doesn't want the hands of westerns on their crypto. They want the biggest whales to be Chinese, and they want to be able to influence on the development, so they want Chinese developers too, or at least funded by Chinese money... what we are seeing is clear, a battle for the control of crypto. The good news is, Bitcoin cannot be controlled, it will remain the global decentralized original blockchain. |
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