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Bitcointalk is the first and most important crypto content site where I spend some time every day. It has become a habit for me and I can't imagine a day without it
I don't like to collect information on Bitcoin and other cryptocurrencies on social media so they are definetely not my favourites. I also check the price of Bitcoin every day, multiple times over the day but for that I usualy just open my Mycelium wallet.
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Earlier it was said here that there are some efforts to increase the anonimity of Bitcoin. But I'm not sure it's possible.
At the begininig we had bigger anonimity and that didn't last. With high pressure for regulation I don't think that turning back at the starting point is actually possible. And wouldn't be very good for reputation of Bitcoin either.
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Those who are overly cautious need to have the crypto they spend for goods and services in a coin like monero then and just keep their investments in Bitcoin. Bitcoin is not a privacy based coin and trying to force it relies upon a lot of trust which goes against the system.
Not necessarily. There are proposals to increase the anonymity of bitcoin. While coinjoin is fine, there are better solutions available, such as payjoin. And how could anonimity of Bitcoin really be increased? At the begininig we had bigger anonimity and that didn't last. With high pressure for regulation I don't think that turning back at the starting point is actually possible. And wouldn't be very good for reputation of Bitcoin either. If you follow where the outputs are being spent, and if the hackers aren't smart enough about how they sell or spend the bitcoins, or if too many of Chipmixers' users spend the mixed coins through services with KYC (or by buying physical products or services in their name), then eventually it might be possible to state with increasing likelihood which outputs are clean and which have a higher probability of being dirty.
Not really. By combining 2 'dirty' and 'clean' outputs, creating 4 new outputs, it is not possible to call any one of them 'clean' or 'dirty' anymore. The whole concept of 'dirty' coins simply does not work. Coins do not exist. Only UTXO do. And UTXOs are being 'destroyed' in each transaction. |
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With new exchanges we should always be very careful. They have no reputation and it's hard to check the quality of service. Unfortunately many see exchanges as a excellent source of profit and for that reason some of exchanges are funded only to get money out of users on illegal way.
Try to get as much information as you can and do the due dilligence. If you decide to trade start with small amount to test it and try as much features as you can to see how it's working and how is the customer support.
Nevertheless, my recommendation would be to use trusted and reliable exchange with good reviews.
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We don't have Bitcoin banks that would provide crypto loans and other services but there are some platforms that provide Bitcoin loans. Even here on forum you can get them.
But Bitcoin loans could be very risky becase of volatility so if you don't have some income source in Bitcoin at the end you might find yourself in situation that you need to return much more than you have borrowed. Of course the amount in Bitcoin will be the same but if you have to spend fiat to return Bitcoin loan that is bad.
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I think that process of blockchain integration into government system has already started. Not in a large scale and not in all countries of course, only the progressive ones, but still. Blockchain has a lot of opportunities and benefits and even governments would like to have advantage of that. At least in Europe where governments usualy have different view on new technologies
But acceptance and integration of blockchain doesn't mean the acceptance and integration of cryptocurrencies at the same time and that needs to be clear.
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Many people don't want anyone to know how or way they do their business with cryptocurrencies. That is why they need anonimity. And I agree that is good to have possibility not to reveal identity unles you want to.
Still anonimity could be misused and some people hide their bad intentions and illegal activities and that is the reason why anonimity should be kept under certain control.
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To my opinion KYC is good in.its essence and it could benefit the users in sense of preventing fraudulent and illegal activities. Still KYC data could be easily misused so you should be very careful who you give your sensitive personal data.
Many are against KYC thinking this is against the nature of cryptocurrencies and that ruins your privacy and anonimity but we have to be aware that we have to sacrify something for our own good and protection.
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Well, it seems that Wirex is having problems again. I deposited some Bitcoins to my account, transaction is fuly confirmed hours ago but funds are not showing at my wallet.
I'm using Wirex more than a year and only recently I started to have some issues with their services so this is kind of surprise for me.
Does anyone has similar experiences and how did support solve this? I sent a ticket, hope they will answer soon.
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Loan Amount: 0.85 btc
Reason for Loan: personal
Amount to be repaid: 0.1 btc
Repayment Date: two months from today
Type of Collateral: none
Bitcoin address: 1Fh4NiuLKUuzafG6BTKddYi6F3ckt2Ustg
-----BEGIN BITCOIN SIGNED MESSAGE-----
I'm bitbunnny, today is 5th August and I request 0.085 btc loan from Zazarb with two months repayment period, total amount 0.1 btc
-----BEGIN BITCOIN SIGNATURE-----
Version: Bitcoin-qt (1.0)
Address: 1Fh4NiuLKUuzafG6BTKddYi6F3ckt2Ustg
HxB7k0NEBg90xClISnAt3473nq05qxITs+McxhJI5OXGGQUXGq6O4yBpVFqeycqfo2LCDJk+HVT5iKbC5x+P2J4=
-----END BITCOIN SIGNATURE-----
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I've heard about some IT companies in UK thar were paying salaries in Bitcoin. But that was only exception and the salary was only partly paid in Bitcoin.
I don't know if there is a way to negotiate with your empoyer about paying salary in Bitcoin because that might be very complicated and risky for him because of financial and tax regulation.
Personaly I think that is very risky to get paid in Bitcoin because of volatility so I wouldn't choose that option.
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Indeed, many people confuse the upcoming news of libra.
They believe that it will be an arrival of Bitcoin. Still the price of Bitcoin is on positive trends and I think it will stay on that levels at least until the end of the year.
Not the arrival of Bitcoin but they think that Libra will affect Bitcoin and crypto currencies positively, but to be honest, it won't. I don't see any connection between Libra and bitcoin. All I know is that bitcoin now is making a movement that excites a lot of people. Maybe the new ATH this month will be set in place and it is now starting. I also think that Libra will not affect Bitcoin in positive way. In fact it will not affect it in.any way. Libra is totaly different concept compared to Bitcoin and it's not competition to it. I think Libra will attract quite different type of users than those who use Bitcoin. So these two coins are not connected and I don't think they will be in the future. |
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Now that you have a basic understanding of a double spend, you should consider the consequences of such an attack. Let's say you successfully execute a double spend, it would quickly get noticed and people will hear about this. The direct result of that would be that massive amounts of people will start dumping their coins, because the whole concept of "security" would be destroyed. The demand for coins will dissapear and there will be a over supply of coins on exchanges .....the next thing you know, the price will go down to almost $0. So the attacker will never be able to do this again and the remaining coins they have will be worthless. Never kill the Cow for it's meat, because you will lose the daily milk.  Well, I don't think that he would actually succeed to make it in practice, I don't believe double spend is actually possible. And even if he did, that wouldn't have such deep impact like you describe, loss of confidence, price drop and everything. This is a little bit exaggerated. |
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In a way it's easier now for Bitcoin users and in a way it's harder.
It's easier because Bitcoin is now lot more popular and accepted than 5 or 6 years ago, there are lot more available informations, different tools, a lot of exchanges and everything. But before it was easier because there were not so much scams and frauds, not so much fake news about Bitcoin, transaction were almost anonimous.
Anyway, I wouldn't like to be a beginner now.
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Don't forget that with investing in Bitcoin you always take certain risk that you need to be prepared on and you can't fully predict how the price will behave.
It's the good thing that price is rising now but after it went down under 10000$-recently many expected it would fall further and nade totaly different strategy. Be always prepared on possible surprise.
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If you don't want to use a secured exchanges I'll recommend Binance becuase it doesn't need KYC. KYC exchanges are better to use because they know who you are and where are you from. Most of KYC required exchanges are more secured than those exchanges that is free to withdraw without any verification. KYC has an advantage to no KYC exchanges because in KYC you can withdraw bigger amounts than the no KYC required exchanges.
Binance isn't requesting KYC but how does protect its users, how does guarantee the security and legitimacy of their business? Some users are only worried about their personal data but don't have the broader picture and forget that if they don't provide the necessary KYC details they are not protected. Personaly I wouldn't use exchange that avoids legal and regulatory obligations. |
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I'm always very pleased to read such news about accepting Bitcoin. It's not very common for health related services to accept Bitcoin so that's why the news is even better. Still, this is just a tiny drop in the sea, Bitcoin is still more accepted on an individual than mass level. And the sad thing is that we are not doing enough to change that.
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It's good to see that Bitcoin price has crossed 10000$ boundary again but on thr other side it's nothing to be extraordinary happy about. That happened many tines recently but still Bitcoin didn't succeed to keep that track and continue with growth, corrections happend quite often.
We'll see how the situation will develope this time but I don't expect to see some significant price changes in the upcoming period.
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It's true, currently the price is above 10000$ but that doesn't mean it's going to stay there.
Lot of people expected to see huge price rise during this summer but that didn't happen. Also, I don't expect to see some strong growth, it's more likely that price is going to fluctuate between 9000$ and 11000$ for a while.
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It seems that it's very hard for Bitcoin to fight against bad reputation that was its burden from the very begininig. No matter all the progress that was made many people still think that Bitcoin is currency for criminals and scamers, for money laundering and other criminal activities. But they forget that fiat currencies are also used for all that but no one isn't calling them criminal tools. Everything that could be misused, people will misuse it, including cryptocurrencies.
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