Things are not going well in the crypto money world and prices are constantly falling. investors' capital has decreased but it is not right to sell bad debts. it will surely rise.
If people don't look at the price that much then the price of Bitcoins and the other coins will have a high value. Well it can't be that much of a shock to you or anyone else that people use Bitcoin primarily as a speculation vehicle to try and "get rich quick". With the way the markets move, people always get greedy and try to "manipulate the markets" as much as they can... or atleast attempt too. People like the idea of gambling on cryptocurrencies without even attempting to understand the underlying tech that makes them have value in the first place... |
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Right, although the "someone" who has unfettered access to a computer with Intel ME is Intel themselves (and anyone else holding the code signing key for executing code on the ME processor). I think exploits were discovered last year where an attacker circumvented the use of the Intel code signing key, but I forget the specifics.
You see we can agree on somethings but few MS developers have woken up to the fact that Microsoft is locking them out from the OS all over the place let alone are spying on every byte of data they can see. Who would ever had thought that you would be getting a merit from me and take it from me, I don't get many to give away but I am stuck with MS because it's all I know. I suspect Goolge on Android devices is nearly as bad, they both have a bad track record, both work for the CIA/NSA Just take an old laptop, load your favorite wallet and coins, then break or disable the wireless networking. Then break or disable the wired networking. Although hardware wallets may have some issues, those issues are nothing compared to the problems of binding a machine to the greater world, uploading data and reporting in fashions the user is not privy to, and requiring downloading of supposed "updates" that are not comprehensible. Yeah, but you don't want just any old laptop to do that on. Like if you were to get one of your old laptops from 10 years ago that you were downloading a whole bunch of sketchy stuff on through limewire, I wouldn't think to recommend using something like that. The most secure way is to buy a cheap laptop that has no wireless or bluetooth capabilities, and then load trusted/gpg verified files on the computer through booting it on a live-USB. |
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These kind of hardware wallets will grow stronger with time.
A indestructible and safe wallet is a very hard thing to accomplish.
Right, and honestly I like that these hardware wallets are being heavily scrutinized, broken down, rebuilt, and broken down again while Bitcoin and other cryptocurrencies are still relatively early in the game and not that many people are actively using cryptos. Having the simplicity and "security" of hardware wallets are crucial for mainstream adoption. |
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There used to be old times when things were too old and we didn't knew anything.
Take a typewriter, then came PC, then Laptop for more convenience and then we are seeing high quality mobiles and tablets overtaking them.
As with each new era, there came a new technology to replace old one with its upgrade.
Will there be any more advanced technology than blockchain that could replace it and be more precise than this?
I know that blockchain is something we can call as perfect ATM, but is there anything that could still beat this technology and overtake this?
There are already blockchain options. Iota doesn't use blockchain technology. It uses directed acyclic graphs (dag), which is quite different. Not a replacement, as Android is not a replacement for windows. Everything will change and it is constant. People will always change and that's what makes more businesses to acquire something that most people would like to. Android is just an upgrade version for Java phone and since Microsoft is too famous, Apple company did something to create their own and it suit the taste of most people in the world. That's how people change by following the trend since it is on the trend, they tend to buy it in order to follow the trend. I know someday someone will be going to create an alternative of blockchain or another type of blockchain. I wonder what this would even look like or what issues it would solve? I mean the whole purpose of the blockchain how it is is to have a way to share a distributed ledger in a peer-to-peer manner without the need for trusted third parties... do you think that these "alternatives" to the blockchain will still be in the spirit of avoiding centralized 3rd parties in distributed communications? If so it needs to be a time stamped based server... It's interesting that I can't even fathom what that might look like without something like a blockchain, PoW-like system... but then again, we couldn't even fathom blockchain now in the early 2000's. |
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At one time, our money was backed by the tangible value of gold or other precious metals, legal tender for anything of equal value.That is not the case any longer. The value of a dollar bill these days is what the government says it is. This arbitrary value is dependent on the whim of the government. And the government can print money like a copy machine run amok. There are no limits to how much money can be put into circulation. That is because this money isn’t backed by any real value
And even having inflationary national currencies, even having the central banks printing money with not much background, we still "need" a crash now and then to equalize the markets. And this is the system that is considered good, working and established, while they call crypto a scam and a bubble. Yep, the world is upside down.... Exactly... I'm so tired of being told by friends and family members saying that cryptocurrencies are obviously some sort of scam and will eventually be "hacked" or something else stupid like that when not understanding the fundamental properities of Bitcoin or "blockchain" in general. Yet, they are so quick to defend the system that we are currently using when not even knowing why or better yet how the federal reserve works the way it does, because no one really does... I mean, it's literally like 10-12 old white people in suits single handedly controlling the nations money supply... what could go wrong? |
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Very interesting article and by the sounds of things we may be heading for
some trouble id the US keeps the printing presses moving.
I dont know enough of economics but these recent 'trade war' rumours
could have an effect on the world economy.
What will be the result of over printing the $ and a trade war be?
Hyperinflation, you'd get a venezualian situation or post WW1 Germany. Its food stamps and no jobs when that happens. But in context of Bitcoin, will likely do very fucking well. I understand about the result of hyperinflation with the overprinting of money, but how would a trade war spur hyperinflation too? Is it because of the fact that you have more goods staying in the nation and not enough goods being sold on top of the over printing of money? Is there something else that I'm not really thinking of here? |
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There are still some interesting things to learn from there tho. They claim that "this time would be different" (as opposed to previous iterations of Communism) because of the technological progress. They also claim it's not Communism. Anyway, my point is, it is true that in 100 to 1000 years, most jobs will already be automated, so 99% of people will simply not be necessary. How does capitalism deal with it? I can only see 2 outcomes:
1) Capitalism overlords kill us all, and they control the machines
2) We rebel against Capitalism overlords and get some sort of minimum guaranteed income to cover basic needs
I don't see any other resolution.
Yeah, that's what they were saying 100 years ago also, robots will take all out jobs and yet here we are... They can claim whatever they want as long as they preach that everyone will be equal, there will be no need for armies or police, there will be no crime because the individual will be happy, you can put lipstick on a pig but....you know. One more thing.
Why do you use the words "we" (especially since we're talking 100, 1000 years in the future) and you decide we have to fight the "overlords". Who are those "overlords". And why trying to fight against them rather that trying to become one?  Capitalism existed under different forms throughout our entire human history. A lot have tried to put labels, definitions, to create the impression it's something new a menace to the human individual, socialist have tried to hide the facts that it existed well beyond the 18th century. And it will still exist, and the "overlords" will not kill us! Ah, well this is the definition of the American dream right? If you were to work hard, you can pull your self up by the bootstraps and become very wealthy and reap what you sew, right? It is very clear that the middle income wage gap is increasing quickly and you can't pretend that it is not significantly more difficult to "make it" if you don't have the benefits of being born into a family that has already "made it". Plus, why should we be still using the same economical system as what our forefathers were using 100, 200+ years ago? Money is a good way to persuade people to give you goods or provide you service without going through the hassles of trading goats and chicken feed. With technology how it is and the fact that we will probably be end up being replaceable in *almost* every job by robots, why do we need to persuade anyone to do anything any more? Humans are becoming obsolete in the job market. |
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Resource based economy with profit removed from the equation.
I'd like to see this happen. Anyone know of anything in the works that might make this possible?
Checkout Jacques fresco work on the Venus Project. This man was a true visionary. He was way way ahead of his time. And with all the fraud and bs that comes with money soon this will be the answer. I hate that bitcoin was pegged to usd well before it was ready. It’s basically ruined the concept altogether. Now I sit back and watch the shit show. Great to see more coming to the conclusion I had. Money is no fucking good for humans well being Anyone else here want to learn something. I mean truly learn something. Read Jacques book the best that money can’t buy! This will open your eyes Big time! I think what your saying that money isn't good for human beings in definitely true now and days. Like what was talked about in zeitgeist and especially in the last one (I think it was called "Zeitgeist: Adendum"?) they were talking about humans now and days being able to use the technology we have now to live and live well without ruining the planet. ... Well before we had the technology, I think that using a currency system was a good way to persuade humans to develop a society that we know today. The opportunity to switch from a "resource based economy" from a "currency based economy" is coming up or already here... but it will be tricky |
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You just answered it yourself, no technology will be relevant forever. There's always a room for improvement and innovation from Blockchain Technology, blockchain itself are still new and just gained traction from mainstream corporation. I doubt we've discovered the best use case from Blockchain itself. Blockchain will stay for a long time before we can think of something else  I think probably the more realistic thing to "replace" the blockchain will just be an improvement in the blockchain format... sort of figuring out a way to provide a more secure/quick version of the time stamped PoW based ledger system. There are already a ton of ways the blockchain has been changed already, but there have been pros and cons to each way you change it... if you change how the blockchain works all together, maybe in a differently layered format, then that will replace the "chain" aspect of it. Sure technology always becomes obsolete, but usually it works on improving the older tech to become better. |
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It's interesting how quickly history disappears in cryptocurrency land See, this was actually tried on a significant scale back in the old days. A popular margin trading site - Bitcoinica - was hacked, and as a result, MtGOX (the #1 exchange at the time) instituted a policy that they wouldn't accept deposits of the "tainted" coins stolen by the hacker - and would put a temporary AML freeze on any account that tried - under the theory that such a person might have been responsible (or know who's responsible) for the hack. Example of a thread about this. People quickly realized, within a few weeks, that this was not a tenable way forward, b/c overwhelmingly the people affected by the policy were randos who had nothing to do with the hack - they'd just been paid coins that, at some point in the past, had been spent by the hacker. When the founder of Bitcoinica asked MtGOX to stop this policy, they did, and since then nobody has seriously tried it again. Perfect example of how that practice of exchanges having to play the "regulators" as well as providing a service is not really feasible. If exchanges didn't have the ability to be able to check the "taint" on the coins then it wouldn't really matter. It's still a good thing to have KYC in terms of knowing who is buying and selling coins for tax purposes, but being able to track coins from 5 wallets ago or so that came from a criminals wallet is bad for the global (crypto) economy and end up hurting people who are not doing anything wrong at all. |
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There are a lot of stories of stolen bitcoins from hacked websites or fooled people.
I was wondering, since all transactions are in blockchain, is it technically possible to make blacklist of wallets where stolen funds where transferred (by claims of victims) to track transfers of those funds and report when the owner can be identified (for example when some goods where bought and delivery address is known)?
Or perhaps just block those blacklisted wallets and don't support them on the network (bitcoin) level?
It is possible to follow the coins, but it is impossible to know if/when the owner has changed. You cannot know if a transfer is from one owners address to another address of his, or if the new address belongs to a new owner. Even proving that the coins belonged to you could sometimes be difficult On the other hand. Now all? exchanges require identification for buying or selling large amounts of bitcoins. If the thief sells the stolen coins through an exchange then he can be identified.Blacklisting coins from the blockchain is impossible. Who could do that? Bitcoin is a decentralized system after all... I feel like this will become the eventual downfall of "open ledger" and non opaque blockchains like Bitcoin and the other countless clones of it. Major exchange sites will begin to realize just how much liability this puts on them because they absolutely 100% have to report the criminals and have to keep track of these "tainted" coins, and if not then it will look bad on them and will be penalized in some sort of way. If you have coins that successfully hides all of this meta info from the coins they are exchanging for customers, then that will therefore reduce that liability and also makes exchanges more willing to accept these type of coins. ... At least that's how I see it eventually playing out unless there is some weird law that passes where exchanges are forced to only accept open ledger coins. |
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It seems that the big whales are spending their last BTC reserves with the hope some FUD/news will help them to lower the price before the next bull rally. They are biting their nails nervously in the fear someone else will overtake them at the start of the race. At the same time the bulls are patiently waiting and probing with some bull traps whether the bear reserves are drained. If there is no bad news (China, Korea, etc.) in the coming days, I expect a strong bull run to 12K in 2-3 weeks. If we break that resistance, the next is 15K. The last, and the toughest is 17K, but it seems too far to think about it now Yeah, but like... what would make you think that something like that would ever become true with a global economy that has started to turn more bearish? With the trade war going on and with Trump seemingly loving the idea of another chance to hang his dick out at world leaders, we are going to be looking at a period of around 3-5 months of people gripping their dollars a lot more firmly... You think in a period of major recession, people will want to risk 2 months of future rent and bills on some risky investment they probably have no idea about but heard can get you a lot of money? |
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Ummm... I'm pretty confident that I made the right amount of posts at the time of my original post to the end of the week. I had exactly 30 posts from my application to the end of the week. Please explain to me why you counted 28 for my post count and didn't pay me for the week.
Hmm, interesting. Yesterday I could have sworn I saw 28, however I now see the 30. I'll send the payment then, sorry for the wait....  Oh no worries! Was just confusing on my end, thanks for the quick reply |
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Ummm... I'm pretty confident that I made the right amount of posts at the time of my original post to the end of the week. I had exactly 30 posts from my application to the end of the week. Please explain to me why you counted 28 for my post count and didn't pay me for the week.
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Some of us missed out, made mistakes, sold too early, etc. Is there support for a new, upper-middle class?-Image- I'm glad you're rich and elite. and I'm glad that like you, too, began to engage in bitcoin
You were definitely one of the earlier contributors to this thread, but I suppose that it is understandable how any of us, at any time, can be tricked out of our coins. Reminds me of the tweet from the guy who raked in 5x returns and sold his 1700 BTC at $.30 and regretting that he had not held until $8 (twitter status, liinked below). https://twitter.com/GregSchoen/status/70261648811761665There are some folks who are going to sell too much, too soon, no matter what because their conviction is not strong enough. I personally suggest that if anyone sells any of their bitcoins, then either replace those coins right away if selling on the way down, or only sell incrementally if selling on the way up... such as selling only small portions at a time (less than 50% and perhaps having a rule to never sell any more than 10% at any given time and only after a certain decent amount of price appreciation, such as 100% price appreciation). Surely, there is going to be personal variation and maybe even nervousness that causes the selling of too many coins, but we should not want to gamble on the downside with our bitcoins, to lose faith in bitcoin or to get tricked out of our bitcoin holdings (whether we are being greedy to cash in our profits or scared about losing paper profits)... so in this regard, over investing or leveraging can be a problem, too. Does anyone know who, or what pseudoname the person who got famous for buying a pizza for 10,000 BTC? I wonder if that is gut wrenching for him looking back on that and wondering "what if" all the time? I would love to look back at any threads based around that moment in Internet history. Of course hind sight is always going to be 20/20 and you can't allow yourself to beat yourself up all the time about it, but I never had to go through things like that or the one instance you described. Below is laszlo's pizza thread, and I thought I had seen something else by him on lightning. It may have been on reddit since it appears that the most recent forum posts of his are from early 2014. https://bitcointalk.org/index.php?topic=137.msg1141#msg1141Wow, nice find in a relatively quick amount of time... pretty cool to be able to read through all of that and snicker to yourself while being 8 years in the future. Still, my heart goes out for that guy. I really hope people like him don't do anything drastic or become too depressed over something like that. |
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Don't just ask someone, you need to see it for yourself if Ethereum really worth your money or not. Every one here have our different opinions about Ethereum specially at this time that all coins are in the down trend.
Exactly. People tend to forget that they themselves need to find the utility in the "coins" they are buying in the first place... Oh you don't build dApps and/or you don't plan on using them? Then I would probably suggest you shouldn't be investing in something like Ethereum because if you can't find utility, then who else will and do you personally know anyone like that? If not it's probably not a good idea to invest because there will (likely) be no interest in it from regular people (probably)... all speculation. Speculate accordingly and expect to more than likely lose money because cryptos are risky. |
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Considering how useful blockchain is, there is no doubt lot of opportunity will open. if you explore all kind of business relating on how to earn bitcoin you'll see it interesting and convenient. There is no diploma or degree requirement. What you need is time, internet, effort and experience.
With this, all kind of people are welcome to enter its industry. This is very much profitable. You can even do this in part time.
I agree that Bitcoin reduces unemployment rate. Bitcoin really helps a lot for those who don't have job. As long as they are properly educated about it there's no problem with that. As long as an individual is willing and persevere to achieve their goals in life. It's an opportunity to those who wants to help themselves get a job. I really don't see where you guys are coming from... If Bitcoin "reduces unemployment", it only does so for a very few people, and actually I'm very hesitant even giving you guys that in the first place. To be "employed" you have to be hired in the first place. So tell me exactly who is being hired by dealing with Bitcoin? Maybe coders in very niche circumstances where they get paid to code something for Bitcoin or something of the sort... but not unemployment on any national level. |
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I don't understand why you hold that many cryptos in the first place. Surely you don't really truly believe in all of those projects, do you? I say you should hone it down to at least 2-3 coins that you actually see utility in... and not in a "pie in the sky" type of way. What do you yourself personally find useful and ask your self why... If you can't answer those questions, you shouldn't be investing anything.
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There's always misleading news articles that are being posted that touch on these types of subjects that aren't always necessarily true. Do you care to link the article you got your information from?
However, to answer your question in a theoretical since, sure it could help the price of Bitcoin because you could treat that as an "exchange", I guess, to get non technical people who are wall street types to "buy" Bitcoin without having to learn how to create a wallet and do it securely.
But still... very minimal to say the least, especially as of right now.
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Some of us missed out, made mistakes, sold too early, etc. Is there support for a new, upper-middle class?-Image- I'm glad you're rich and elite. and I'm glad that like you, too, began to engage in bitcoin
You were definitely one of the earlier contributors to this thread, but I suppose that it is understandable how any of us, at any time, can be tricked out of our coins. Reminds me of the tweet from the guy who raked in 5x returns and sold his 1700 BTC at $.30 and regretting that he had not held until $8 (twitter status, liinked below). https://twitter.com/GregSchoen/status/70261648811761665There are some folks who are going to sell too much, too soon, no matter what because their conviction is not strong enough. I personally suggest that if anyone sells any of their bitcoins, then either replace those coins right away if selling on the way down, or only sell incrementally if selling on the way up... such as selling only small portions at a time (less than 50% and perhaps having a rule to never sell any more than 10% at any given time and only after a certain decent amount of price appreciation, such as 100% price appreciation). Surely, there is going to be personal variation and maybe even nervousness that causes the selling of too many coins, but we should not want to gamble on the downside with our bitcoins, to lose faith in bitcoin or to get tricked out of our bitcoin holdings (whether we are being greedy to cash in our profits or scared about losing paper profits)... so in this regard, over investing or leveraging can be a problem, too. Does anyone know who, or what pseudoname the person who got famous for buying a pizza for 10,000 BTC? I wonder if that is gut wrenching for him looking back on that and wondering "what if" all the time? I would love to look back at any threads based around that moment in Internet history. Of course hind sight is always going to be 20/20 and you can't allow yourself to beat yourself up all the time about it, but I never had to go through things like that or the one instance you described. |
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