Co-founder of bitcoin.com Emil Oldenburg, is extremely skeptical of bitcoin’s future. He calls it the riskiest investment one can make at the moment and blames it on the market liquidity. He also has sold all his bitcoin and switched all of them to bitcoin cash. What do you think of this? Do you think this sort of news will drive people away from bitcoin and it will all fall off one day or he's just paranoid for no reason?
first of all you should know that bitcoin.com is the main advertiser of bitcoin cash. that should clarify whey he "said" he has done what you explained here. secondly, if you think bitcoin is risky then you should already know that altcoins, specially bitcoin cash are much riskier investments! and finally selling and diversifying is not a bad thing. bitcoin has risen a lot, it is only wise to sell something to get some profit out. even if you do don't believe all the bubble talk, there is always a tiny chance of a drop. that "tiny chance" is enough for you to re-think your strategies. and no it will not cause any panic or drive people away, almost everyone knows what they are up to and they are used to people saying weird shit about bitcoin all over the internet. ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif)
|
|
|
bitcoin is a peer to peer network. this network consists of different computers running an application we call a bitcoin node. when you send a transaction, you are sending it to a bitcoin node. these nodes receive transactions from others and put it in their memory, which we call memory pool or mempool for short. and then they rebroadcast it to others. and that way your transaction propagates throughout the network and usually in matter of seconds. now here is the thing. each node can decide to accept some transactions and reject some others. for example most nodes set a minimum fee (satoshi/byte) that they are going to reject. so if you send them a transaction that has a low fee they don't accept it. right now there are more than 170,000 transactions in the mempool. and the size is bigger than 280 MB. so obviously there are many nodes that reject a lot of low fee transactions. now when you use an SPV wallet like Electrum, you are not a node. you are instead connected to a random node (an Electrum specific node to be exact). and then you send and receive transactions from these nodes. the reason why your transaction disappeared is that the first time you were connected to a node that accepted your low fee transaction but the next time you ran Electrum, you connected to another node which probably had a higher limit for fee and did not have your transaction in its mempool, that is why when you connected to that node, it told you that you do not have that transaction you were looking for. that is the same with the block explorers. they also run a full node. some have different settings. for example blockcypher and blockcahin.info reject 0 fee transactions but blockexplorer and smartbit don't. so you see your transaction in one of them and you don't see it in others. - on BTC.com tracking the replaced tx i see a warning of "double spent" money... this is normal? It will somehow affect my future transactions?
the way RBF works is that you are practically making a new transaction and you are in fact double spending the same output. this is again because of different Node settings. some of them have implemented RBF so they understand it, and will Replace your transaction By the new one with higher Fee and discard the old one. but some other nodes have not implemented RBF so they only see 2 transactions, they reject the new one because it is a double spend and keep the original. the block explorers show them as double spend as a warning.
|
|
|
how did you create this "new My Bitcoin wallet" which you transferred your bitcoins to? and when did you do the transfer? blockchain.info is known to have bugs and their BCH wallet is new so there may be some issues. if you transferred your bitcoin after the fork then your BCH is still in your old keys and if you transferred it before, then BCH is in the new keys. as long as you have the keys you have both BCH and BTC. my guess is that when they imported your wallet into BCH wallet, they did it only for one wallet and not the other (the new My Bitcoin Wallet that you created). contact support and ask them for help but first check your BCH balance here: https://bitcoincash.blockexplorer.com/ to make sure you really have them.
|
|
|
you can use any Linux distribution that you like and then install any wallets on them that you like. for example you can go with the most popular distros such as Ubuntu, Mint, Fedora, Arch, Debian, openSUSE,... and then use popular wallets such as Bitcoin Core, Electrum (which Tails has), Bitaddress.org (the popular paper wallet tool),... as long as you know how to boot into each of them, you are fine. it doesn't matter what computer you are using and what its current OS is! Tails is a well known wallet
Tails is NOT a wallet. it is a Linux distribution with focus on privacy.
|
|
|
Ebay, amazon and other companies like them will never accept bitcoin. The main reason:
i wouldn't say never, and the reason you mentioned is not it. the only reason why they have not accepted bitcoin and probably won't for a long time is lack of interest. people are not so willing to spend their bitcoins because of the constant price rise everyone sees bitcoin as a pure investment these days. 1) There are a lot of scammers in the bitcoin sphere and we know that already.
there are scammers everywhere, saying there are a lot in bitcoin is not right. The issue is that is someone is scammed on eBay, for ex, Tony buys a laptop from George. George gets the $ on paypal immediately, but never ships the laptop.
..or he ships the laptop and Tony does a charge back and gets his money back too. and now George has to go beg to Paypal that he was scammed and be patient as Paypal ignores his ass for as long as they want. try searching how many people are being scammed with Paypal charge back every day. After a week or 2, Tony makes a report on ebay, which then takes the $ in George's paypal account to give back to Tony, while also suspending George's account. ~ I'm pretty sure sites as large as eBay and Amazon won't want to deal with the constant reports of "I didn't get this package and my bitcoins are stuck in escrow, can you help me?" etc etc that come with an escrow system, as well as the fear of getting hacked.
so you are saying these large businesses are OK with constant reports of Paypal charge back and scams but they are worried about reports about stuck bitcoin in escrow?!! that doesn't make any sense!
|
|
|
~to sweep the paper wallet (which was holding only a bitcoin(BTC)) with the Electron CASH (BCH) wallet. The Bitcoin (BTC) vanished.
are you sure your "bitcoin" has vanished? you are using a bitcoin address in a bitcoin cash wallet. that wallet (being Electron Cash) is obviously showing your Bitcoin Cash balance of the imported address which should be zero! check your address in a block explorer or import it in a bitcoin wallet (like Electrum) and see if the balance is still there or not.
|
|
|
The solution to this would be the lightning network which has been successfully implemented recently but then I don't know when would that be implemented in the whole network so that this scalability problem would then be solved.
Lightning Network on its own doesn't seem to be capable of solving much, we still need the on-chain scaling. and at this point that can be achieved by more people using SegWit transactions instead of legacy. but that also takes time and also it requires big services such as exchanges and web wallets to implement SegWit. then later on we will also need a block size increase such as the one SegWit2x was proposing.
|
|
|
you people keep calling bitcoin a bubble for years. even when price was so much lower than this which makes me laugh to think about it! and i bet half of those who call bitcoin a bubble and compare it with Tulips don't even know what they are comparing bitcoin to! and you know what, even a broken clock is going to tell the time correctly twice a day, so i am sure we are in for a lot of "i told you so" in the near future when eventually a bubble happens and then bursts!
|
|
|
by "demand" i mean "users keep asking them to add something". they have been badgering blockchain.info to credit their bitcoin cash for a long time now. the support is flooded with people asking them to give it to them, specially after it was pumped. but i don't see that many asking them, or flooding their support with requests to force them to add SegWit. that is what i meant by lack of demand.
|
|
|
Does stock trading work the same way as bitcoin trading?
yes and no. the basics are the same. you do some analysis and then buy low and sell high and pay fees and taxes and everything in between. but when talking about stocks, you are dealing with a company, you can research it much easier and because it has been years and years that many companies existed and their shares were traded, things are not that unpredictable. but bitcoin is new, and it is on the way to adoption. it is still pretty similar to a new company (imagine Apple in early years) that is going to the moon. but it is still more unpredictable because it is new.
|
|
|
based on your other post in your post history i am not sure if you are trying to send "from" electrum or from somewhere else "to" electrum and you have this issue here! please clarify that first.
and if it is "from" electrum, as in you have the private keys to the address containing the funds, then tell us what is your wallet type (Standard, Multi-sig, SegWit) and do you have multiple inputs that you are spending (did you receive multiple transactions in your address or is it just 1)?
|
|
|
if there is a bubble, then it will burst with or without an igniting factor.
and you are forgetting that bittrex is an altcoin exchange which has nothing to do with bitcoin price. they also lost a lot of their market share when they decided to start scamming people and block their funds. so many traders got out just because of this and others are staying away. an exchange scam needs to happen at once to cause any turbulence in the market not slowly and little by little scamming hundreds at a time.
also remember Cryptsy? they scammed and ran away and nothing happened to bitcoin.
|
|
|
If its at the current market rate, then whats the point of bitcoin if i am not profitting?
two things: 1. you are using a decentralized currency unless that means nothing to you, then why have you even bought bitcoin in first place? 2. imagine you bought $25 worth of bitcoin 1 months ago at $5000, that is 0.005 BTC and now you want to buy that shirt for $25. and with current price which is $19000 you have to pay ~0.001316 BTC (ignoring all the fees and assuming you can buy $25 worth of bitcoin!) do you see the profit or not?
|
|
|
Well, after fork people are selling new currency for bitcoins so yeah, price is going up due that ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) And also there is a chance that something useful would be created, some kind of bitcoin 2.0 when someone sells an altcoin and receives bitcoin in return, that has 0 effect on bitcoin price, specially in price going up!. if anything price may come down because people now have more bitcoin due to the altcoin airdrop which they may want to sell some part of it. also not a chance in hell a good thing be created like this! they are creating useless junk constantly. if anyone wants to make something good, they would never fork bitcoin with its huge blockchain! instead they would start from scratch.
|
|
|
it means the person who sent you bitcoin spent a transaction that was not yet confirmed. the previous transaction has to first confirm before your transaction can be confirmed. depending on how deep this goes, and also how much fee the other transaction (the parent) is paying, it can take a long or short time. all you can do is to wait. or try using a transaction accelerator like this one: https://pool.viabtc.com/tools/txaccelerator/
|
|
|
you shouldn't just take the lowest price. the $12k price was the bottom of the dip after the correction and some panic sell. the rise was basically started at $16,500 bottom. in that case this rise is a 15% rise which is not that huge when you look at it like that.
with that said, this is bitcoin, it has always risen like this. people FOMO buy a lot. and there are times when there is a surge of new investors.
|
|
|
are you seriously asking this question?
being a programmer is a job that you get paid to do! no matter what, as long as you do the job, you will get paid. so you have some sort of financial security as secure as the job you have and the skills you have. even if one job ceases to exist you can get another with your skills and resume.
investing in bitcoin and being a trader is a risky job. today you may make money, tomorrow you may lose. and the next day the exchange you were using to make that money can simply run away with all your funds and leave you homeless! coming back from that is not as easy as coming back from losing your job!
|
|
|
bubbles happen in any market. they don't have to be bad or good. and they don't have to be huge and then burst to annihilate everyone! they are a part and parcel of any market that people buy something and sell it later for profit. and bubbles in bitcoin are not a new thing. we had at least 5 major bubbles. and the funny thing is the 2013 one ($1200) was not even the biggest one considering the relative rise of previous bubbles.
with that said comparing bitcoin with things like tulips is just dumb. bitcoin being a decentralized cryptocurrency and a revolutionary technology which is changing the financial world and also it has a small and limited supply. and tulip being a useless junk which is neither a revolutionary tech like bitcoin nor with limited supply like bitcoin.
|
|
|
|