Bitcoin itself can't be centralized, I agree. But the services on top of it very easily can. We can see it with the largest wallet providers growing even bigger. We can see it with mining becoming centralized. While the ledger will always remain decentralized, I can't help but see human nature wanting other things to centralize. And I wonder why that is...
this is true, and it is the reason for why we need a decentralized exchange(there were some attempts in the past but they didn't work well, because of escrow issues) too besides a decentralized market |
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a price of 1M per bitcoin could happen only if a very big number of the today world population suddently invests a portion of their saving into bitcoin, there is no other way to reach such amount If they didn't in 2008, why would they "realize" next time? The truth is probably that the current system isn't as "broken" as some here are led to think.
The system is MORE broken than people can realize. The thing is a crash is not seen instantly, it takes years to see the consequence. It's all a game of how long they can keep injecting money to make things seem OK, but it will not last forever. What if the system is not broken? I've heard those stories about the us and the $ collapse since the 90 and till now nothing.There are more chances half of this forum will be dead before it happens. well it is collapsing, but at slow rate, just take a look at some country situation, and mass poverty that raised in the last years, if it continues in this way, there will be no going back at some point it's like a cancer that kill you year by year, not immediately |
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i like too see more the full chart, there is something familiar   |
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I keep seeing trolls drag out the same dead argument, that the network and miners cannot support a price of $200 per coin, and once we bust that... It's game over.
Look at how stupid the person sounds who claims that the miners won't support prices of $10, $9, or $8. That's how stupid the same arguments will sound in a few years about $200, $150, etc.
As Mr Freeze above me said, it's the buyers who determine price, not the miners.
how, big farms can support single digit tells me? there is no way, they must shut down or reduce a large number of their power hashing, and at that point everyone will performs a 51%, the network will be too vulnerable and bitcoin will die Dude, what the fuck are you talking about? If everyone performs a 51% attack, IT'S NO LONGER A 51 % ATTACK! not in that sense come on.... but in the sense that everyone has the possibility to do it, and they are not all good people like "gigahas.io", that reached 43+ if i'm not mistaken what i mean is that with a lower price the hashrate will be lower too along with the diff, diff too low means that, even one random guy with 10 tera can perform a 51% |
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Bitcoin mining centralization has been a point of concern in the community for a while now. People are worried that the growing size of mining firms will continue until one of them attains 51% or more of the network’s hashing power. Although a firm holding the majority of the hashing power would not inherently compromise the network, it would certainly centralize the creation of bitcoin and the confirmation of transactions. Such centralization opens the door for a 51% attack, in which a nefarious actor initiates a double spend. This particular attack is highly feared in the Bitcoin community, because a successful double spend would ruin Bitcoin’s reputation for being a trustless monetary system.
http://insidebitcoins.com/news/the-economics-of-bitcoin-mining-centralization/31833I thought the chances of a 51% attack were highes last year when some mining company, I forget who, almost got to 50%. They said that they would not do anything to attack the blockchain though and since then the mining has become more evenly spread... If someone is willing to spend massive amounts to get a 51% hold of mining, then double spend, they will just destroy bitcoin and have wasted their money.. That could be possible if someone, like a government, wanted to destroy bitcoin, but as an a idea to make money, it's stupid. it was gigahash.io, and there were some double spending addresses as well, then they raised the fee to decrease the number of users however there is a difference between farm with big hash that come from their own miners and farms with big hash that come from multiple users, the latter are not centralized at all the first instead are the real problem, like those china farm... |
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They're two completely different assets in many ways. Has the Dollar replaced Gold as an investment? No! Many different forms of assets, money, investments, stocks, etc. exist at the same time, profit from one another, challenge one another, or just don't interfere with the other at all.
+1 Bitcoin won't replace dollar as it would require bitcoin not only to become accepted by all the countries that are now accepting dollar but also to surpass it, become more important to make people convert their whole USD holdings into BTC. I don't think we'll ever see it happen. there is only one way that bitcoin could replace it, if the dollar collapse one day, otherwise there is always the possibility that bitcoin is just accepted more without necessarily take out the dollar, like duo dollar/euro right now |
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that site is a scam, there was one alike called coin-doubler, and one before that called coinx2(which scammed me too, 1 btc...), i believe they are the same people
there is no easy way, unless you want to scam someone...
better to join signature campaign as they pay well right now, just rise ytour activity first
Those are indeed scams, but the site OP posted seems like its paying. As long as you aren't the last guy.. it may work. Maybe is more risky with bigger amounts, but what if you try with 0.1? If someone tries let us know, im not going to risk it personally. they pay always at the beginning, but then when they raise enough money or they see that the amount deposited become too big, and they can't pay anymore the last one, they will run away, guaranteed... |
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you can try to setup a mining pool for altcoin, if you have enough experience, and charge a 1% fee or 0.5 if 1 is too high, but i can not assure about a high profitability
another thing is... you can build a streamer, or for gaming purpose, there are many old game that need private server, you can charge something there too
Streamer? Like Twitch?? Gaming server? Possible, but question is, if it can pay for electricity and give a little tip to me. a server like that should consume at worst 50w per hour if the cpu isn't used max, not something to worry about you can also put it in renting, someone always need linux or even windows server to do their stuff i think it's better to drop the suggestion about dedicated gaming server, because you need a lot of bandwitch, not worth it i guess.. |
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Anytime is good for investing in Bitcoin, because more investment will mean more security for the bitcoin community. There will be more adoption and new users will be attracted to the market. So keep on investing...  Ummmmm, I gotta ask... How is investing in Bitcoin supporting the community or making it more secure or safe or whatever? I do get that mining or investing into companies (or core developers) building the backbone is good for Bitcoin, but simply buying BTC!? By buying BTC you drive the price up, which can never be bad within itself. That is if there is demand for it tho. Right now its a great time to buy, if you want to call yourself a pioneer in a couple of years. Well, but it isn't doing anything to the security or 'quality' of Bitcoin. It's purely affecting the market value of it as an asset. I know this is what most people want, anyways, but is really isn't doing anything else, actually... you makes it more strong, and actually a better price is helping the network security, because more farms can join, and the hash will be greater, thus much difficult to do a 51% attack, not to mention that it will restore the faith in the world population at least in part, and they will begin to invest again so no, the price does matter |
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I keep seeing trolls drag out the same dead argument, that the network and miners cannot support a price of $200 per coin, and once we bust that... It's game over.
Look at how stupid the person sounds who claims that the miners won't support prices of $10, $9, or $8. That's how stupid the same arguments will sound in a few years about $200, $150, etc.
As Mr Freeze above me said, it's the buyers who determine price, not the miners.
how, big farms can support single digit tells me? there is no way, they must shut down or reduce a large number of their power hashing, and at that point everyone will performs a 51%, the network will be too vulnerable and bitcoin will die |
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I'm far more surprised at what price there actually was support! I don't think there are many trendlines that predicted this kind of behaviour, which makes me think that this really may be a solid bottom of some sort.
Are these levels a really good time to buy? i would buy some and i would increase my buying the more we fall, we shouldn't fall too much in theory, we should floating around 150-200 in the worst case if another crash happen, but i'm confident that the previous crash(180) will not be surpassed Nice strategy. I guess averaging would make perfect sense if it doesn't fall by a lot. People call this strategy "a good strategy" but also "bag holding" and tell people they have gambling issues. If you actually invest in BTC in the longterm and only invest what you're willing to lose, this strategy does indeed make a lot of sense! this strategy is aiming at increase bitcoin price, but at one point you must dump some btc to gain your profit(but many actually dump everything they bought), you can call it semi-bagholding |
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apparently there is still no gpu mining for this? or it's only private? this coin is old enough there should be one already
cryptonight all over again i think, but with less profit
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only magi, but perhaps there is a gpu for it by now
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well the variation are like bitcoin in 2007 20$ in 2014 800$ and now its a stable 200$ 300$ might get a bit bigger next few years in the middle of years each like 350 450 or 500$ in my opinion but that over the years like 2 or 3 not 10 i can not predict 10 years and the bit coin will be more diff to mine yes
there was no bitcoin in 2007, it started in 2009, 6 years olds at best, in another 10 years the supply will halve 3 times counting the next years, if we take in consideration that around the first halving bitcoin doubled, a good estimate would be 2k usd as a stable value, with a peak of 10k, basically like the last previous pump but with one more zero |
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you can try to setup a mining pool for altcoin, if you have enough experience, and charge a 1% fee or 0.5 if 1 is too high, but i can not assure about a high profitability
another thing is... you can build a streamer, or for gaming purpose, there are many old game that need private server, you can charge something there too
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it should be safe, but fees are high in that exchange, better to take out the money from there and use another form of exchange, there are many with lower commissions
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I have thought about Localbitcoins, meeting with an actual person and getting the cash, but that is annoying as hell, I want to be able to withdraw money from an ATM instantly, without depending on some random person being available that may or not rob you.
I've thought about mixing, but I have no idea how that works and i have no idea if that even solves the problem.
You may use mixer, but that would actually bring in more trouble to you. Because the coins that comes out of mixer are mostly traced back to some notorious source. If you can find any mixer that gives out freshly mined coins, that is a deal for you. Once you get your coins, use www.localbitcoins.com or www.100bit.co.in for directly sell those coins. Do not need to meet anyone personally. Sell online. Just avoid to good to be true offers. That's all. It is super easy  The bank would know you received a transfer what is the biggest amount of BTC to sell before it becomes a problem and raises alarm for the bank? this still sucks compared to withdrawing cash from an ATM instantly. When you withdraw cash from ATM, your pic remains in CCTV. But, when your are selling directly to someone, bank does not get to know for what he is paying you. There is no way bank can co-relate the transaction with your bitcoin unless the person you are trading with is reporting himself, which is very unlikely. but they know that you've withdrawn from an atm, and they will ask you where that amount was used for, if it was a big amount, otherwise they usually don't bother with anything below 1k(this is different from country to country) |
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You can't close a P2P currency. It doesn't work that way, get a private list of peers or find a shady Bitcoin dealer.
Using Bitcoin is illegal in Russia now, if you were found using Bitcoin and anything related Bitcoin, they will put you in jail. lol. How about if I just have a 1 and not a 0 written on a piece of paper? Will "they" put me in jail? How about if I look at somebody and raise my eyebrows? Look around people. Jails are usually for the poor and not for the rich. Why do you think that is going to change? they said those crap things just to scare investors, no one has ever gone to jail because he was playing with bitcoin(without exchanging them for fiat) |
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mBtc is just 0.001 btc in short: Predefined Values of BTC: 1 Satoshi = 0.00000001 ฿ 10 Satoshi = 0.00000010 ฿ 100 Satoshi = 0.00000100 ฿ = 1 Bit / μBTC (you-bit)(microbitcoin) 1,000 Satoshi = 0.00001000 ฿ 10,000 Satoshi = 0.00010000 ฿ 100,000 Satoshi = 0.00100000 ฿ = 1 mBTC (em-bit)(millibitcoin)1,000,000 Satoshi = 0.01000000 ฿ = 1 cBTC (bitcent) 10,000,000 Satoshi = 0.10000000 ฿ 100,000,000 Satoshi = 1.00000000 ฿ You can check it here: http://www.btcsatoshi.com/Nobody said that you have to use mBTC or μBTC. In fact I don't like that, because I prefer stick to the original bitcoin with no prefix. Operation in mBTC or uBTC values is just confusing for me. also for very small amount below micro, it will be difficult to write it, actually there is no way, because the smallest number in bitcoin don't reach nano the best way for me is say 10k satoshi/bits, or 1k satoshi/bits, keep it simple i say... |
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