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1741  Other / Beginners & Help / Re: Newbee: Is bitcoin a real currency on: September 14, 2020, 06:48:29 PM
Indeed, bitcoin is a currency that can all be exchanged.

What?  Huh


So the traditional definition of a currency states that it requires an issuer but this is due to the fact that when that definition was made something like a decentralized currency did not exist.

I believe the definition must change to recognize centralized and decentralized means of exchange.

1742  Bitcoin / Bitcoin Discussion / Re: 3 Ways to Hack Bitcoin on: September 14, 2020, 05:59:27 PM
According to your title and post, only point number 3 that can be called as a way to hack bitcoin.
Because, the first 2 points only can be happen if there’s mistakes on the user side. Not directly to the system or network.

No it is not!

It was explained a few times in this thread what a 51% attack is. This is not "hacking" it's rather exploiting a feature of Bitcoin.

This attack is possible only in theory because in reality you'd need to invest a lot of money before you'd be able to even attempt this and as time goes by it's going to be more and more money. At this point you'd need to rent out a whole nuclear power plant to have enough power to try it. 51% attack is a scary bedtime story for new investors.
1743  Economy / Gambling discussion / Re: Police Raids and kids involving spider betting. on: September 13, 2020, 11:18:36 PM
Such spider fights have been around for a long time and in the area where I live are used as children's toys like big black ants fighting in small boxes that children play with.
and it happened in the interior and for their entertainment without betting, and the match did not come to an end just by retreating or dodging when losing and it was all just for their entertainment.

The spiders are just too small creatures and i do not understand how they make them fight. I don't find anything entertaining in this fight either.
Don't they have something better to do than watch the spiders fight and bet on them  Huh

Spiders are territorial they have their own web and if they feel another spider around they feel like he came there to steal the prey. They fight by hitting the oponent with their legs and biting.

I also don't find it entertaining. You are putting a living creature to death for your entertainment. It's like looking at pigs or chickens being slaughtered.

I know it's a part of life but I wouldn't want my kids to play like that. I'd rather allow them to gamble with cards, even wrestle each other.
1744  Bitcoin / Press / Re: [2020-06-04] Bloomberg: “Bitcoin Toward $20,000 in 2020" on: September 13, 2020, 09:05:21 PM
Now it's September (almost towards the end of September) and I don't see how from $ 10,000 it will jump to $ 20,000, I get angry with these price prediction guys

Maybe in the same way that it went from 3000 in September 2017 to 19000 in December?  Grin

Usually people assume that if something happened once it can happen again and I don't blame them for it. 20 thousand is a really modest prediction especially when you compare it to what McAfee used to say Wink
1745  Economy / Economics / Re: Can legalisation of Cannabis help US economy? on: September 13, 2020, 08:54:28 PM
I don't think it will solve the problem but it can help.

Legalization means less dirty product on the street, people not getting arrested for possession which means less time spent on chasing and processing them by the police. The police would be able to focus on real crimes instead of chasing kids.

I also don't think that alcohol is less addictive or unhealthy than weed. If alcohol is legal why not weed?
1746  Bitcoin / Bitcoin Discussion / Re: Bitcoin’s Energy Consumption Grows, Now Comparable to Czech Republic on: September 13, 2020, 08:06:38 PM
Not only that, but they also found that bitcoin mining is acting as a "buyer of last resort". Essentially, when renewable projects are producing too much electricity that they cannot sell, bitcoin mining is being set up in those areas to buy and use this excess electricity, which would otherwise be simply wasted.

Not only renewable but most electric energy sources produce more than is used and cannot store it. This surplus can be used by Bitcoin miners without any environmental impact.

Some people even go as far as using old power plants for Bitcoin mining. Places that otherwise would have been shut down and abandoned.
https://cointelegraph.com/news/russian-businessman-buys-power-stations-for-crypto-mining

1747  Other / Beginners & Help / Re: Cloud Mining Offering And How To Identify Scam[HELP] on: September 13, 2020, 07:47:07 PM
I've Checked the site and there are a lot of misleading details

We appreciate the work but you're wasting your time.

Cloud mining is a scam and all threads like that should end with this conclusion. If people were simply writing it as responses people who check out the thread would get a plain and simple message.

Their very claim of 5% a day is enough for me. Cheesy
1748  Bitcoin / Bitcoin Discussion / Re: Is bitcoin difficult to understand on: September 13, 2020, 07:30:57 PM
You only need very basic understanding of Bitcoin to use it. You don't have to spend hours learning just watch a few youtube videos, read a wallet tutorial.

To understand the basics you maybe need to spend 30 min. How much time is needed to get to know everything a user should know? 2 days? 5 days?

You spend more time learning to drive a car why would Bitcoin be difficult all of a sudden?
1749  Alternate cryptocurrencies / Altcoin Discussion / Re: What's your take on refunding 800 BNB that are effectively burned? on: September 13, 2020, 07:13:05 PM
Then it will set a precedence, not just for Binance for any other burn token algorithm. And it will shows how powerful Binance and CZ. Don't forget about this one as well, Binance Considered Pushing for Bitcoin ‘Rollback’ Following $40 Million Hack. If he did do a rollback back then, it will be a wrong move for him. I sympathize with him, offering to help the guy, but the repercussions is big. If he wanted to show good will, give back $20k to the guy, that's it, instead of removing 800 BNB, that's just my opinion.

It sure would be a better choice to pay him back with his own money but I guess he didn't want to take responsibility for the situation. He chose to make the system responsible and show himself as the generous boss. This is all well calculated. Next time this happens people won't ask him for money directly like they would if he paid that guy. 

These are the things I am getting at. Those who are "okay" with CZ burning BNBs less the 800 that are supposed to gone permanently are underestimating the future impact of such action.

We are very critical when it comes to coins or tokens supply, from circulating to locked or to team holdings, but we're just fine if developers and owners can easily play with it?

Those who invest in BNB should know that it's a centralized token. You know what you're getting yourself into and that the coin will depend on future actions of CZ and Binance.

If Binance gets into the same trouble as Bithumb you'll be able to buy a bottle of vodka to drown your sorrows in with your whole BNB investment.
1750  Economy / Gambling discussion / Re: fortunejack withdarwal delay on: September 13, 2020, 06:41:47 PM
I think that while small withdrawals are automatic with big ones like 1 BTC a manual confirmation is needed.

You made the withdrawal right before the weekend so just wait until Monday and if nothing happens open a ticket or write an email to support.

Don't forget to tell us what happened. People often write threads to complain but forget about them when the problem gets fixed.
1751  Bitcoin / Bitcoin Discussion / Re: Spamming 547 satoshis. But why? on: September 13, 2020, 06:32:05 PM
Today BSV troll deletes all posts in his thread and writes a message to Theymos for help in Meta and someone spams bitcoin clockchain promoting BSV.

What a coincidence, wouldn't you say?

I wonder what Craig and his team are up to now  Roll Eyes
1752  Economy / Trading Discussion / Re: Is Buy and Hold Really the Best Strategy in Crypto? on: September 13, 2020, 06:12:06 PM
There are different groups of people here and each will paint you a different image.

Successful traders will tell you that they did all of it because of their skill and if you think holding is better than trading you're just bad at trading. Tone Vays likes to say similar things.
Unsuccessful traders will tell you trading sucks and you cannot predict moves well enough to come on top. Market is manipulated so you can win or lose even if you are great at TA.
Successful holders will tell you to hold because they made so much money holding that trading is unnecessary risk.

It's your choice what you decide to do.
1753  Alternate cryptocurrencies / Altcoin Discussion / Re: What's your take on refunding 800 BNB that are effectively burned? on: September 12, 2020, 09:59:22 PM
It's a good idea by CZ, I think they should reimburse the guy who lost his coins.

If the coins got burned he will not affect the ecosystem in any way by getting them back and it's going to be a great opportunity to show good will.
1754  Alternate cryptocurrencies / Altcoin Discussion / Re: Who has the eye that looks into the future? on: September 12, 2020, 09:50:23 PM
If we lived in a naturally evolving economy it would take over but we don't.

Governments will not give up their right to make money out of thin air so fast. It's possible that some small and bankrupt countries like Venezuela will undergo such changes but most countries will not. They will choose crypto -based electronic fiat money similar to stablecoins but completely centralized.
1755  Alternate cryptocurrencies / Altcoin Discussion / Re: Is it getting late to buy crypto again? on: September 12, 2020, 09:45:15 PM
I wouldn't be so sure about it climbing back up. It will all depend on the stock market. If it crashes we will have another selloff on Bitcoin and altcoins.

People who said that every moment is the right moment are both right and wrong. It may be the right moment in your heart but financially buying at 20 thousand dollars was not the right moment and so was buying this year at 12 thousand.
1756  Economy / Gambling discussion / Re: Be careful when you play games with your coins! on: September 12, 2020, 08:59:42 PM
OP is giving us a basic advice that is being given on this forum every month.

There are even threads started by people who won big and then lost it all because they kept playing.

Math tells you that if you hit a big win you have to stop playing. It also tells you that if you lose all you had on your account depositing another batch to win back will not increase your chances. People often forget about it and the business thrives Wink
1757  Economy / Gambling discussion / Re: Crypto gambling sites should be careful of bringing eSports in on: September 12, 2020, 08:48:50 PM
This is the wrong logic (i mean OP). All these good intentions on the one hand are fair and on the other they call for what? To KYC/AML, to canceled transactions, total control and other delights of the fiat world. I believe that teenagers are a zone of responsibility for parents and not for those who develop games or cryptocurrency.

OP seems to think that mostly young people play games so young people will also bet on them, but young doesn't mean underaged.

Most of us knew how to play card games when we were young and we played but how many of us played for money? Not many because we had very little money when we were kids and games were meant to be fun.

If a 12 year old plays playing CS hears about esports betting he won't start to gamble all of a sudden. If he had money he could gamble buying keys and trading skins.
1758  Economy / Speculation / Re: What affects the price of bitcoin and other cryptocurrencies on: September 12, 2020, 08:41:20 PM
Im pretty sure at this point it is only whales.

So in other words you think that economic situation, shutdown caused by the pandemic, the stock market crash, bitcoin bans in certain countries, exchange hacks, halvings, all that is irrelevant. All that matters is when a whale will decide to make a move. Grin
1759  Economy / Speculation / Re: If market crashes, BTC will crash twice as hard. on: September 11, 2020, 11:12:48 PM
BTC falls because the stock market can be stopped. Every time there's a crash that exceeds certain number like 5% a day they shut down the exchange and not allow any more selling.

I don't think that if stocks crash again Bitcoin will followas deep down as it did in March but a stock market crash that takes Bitcoin down to 8000 is possible, even likely. If it happens it will be this Autumn. All we can do is watch it enfold.
1760  Bitcoin / Bitcoin Discussion / Re: SEC offered a 625K bounty for a tool to track LN and Monero on: September 11, 2020, 11:00:16 PM
At some point all existing coins will become traceable but there will be new untraceable coins to fill the gap.

If you went back a few decades to the security people had on their computers in the 90s you'd be able to break it in minutes.

I remember when people thought protecting your computer with bios and windows passwords was good Wink

Many sites had bugs where you could see the password in the code if someone forgot to log out. Technology evolves so fast.

The SEC will spend a year getting it ready and another year making their people learn how to trace transactions. By that time there will be a new new privacy coins.
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