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Whether you save or invest depends on how much money coming in you have. Personally I like to save most of my money and invest a little in bitcoin. I think bitcoin could be a decent investment in the long run so I plan to hold for a couple of years at least but if bitcoin doesn't really go where I want it to or fails then I'll still have my savings.
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I've got about $700 that I want to use to buy Bitcoin and hold it for the long run. I am having a hard time choosing where I want to store this coin, encrypted desktop wallet, blockchain.info, blockchain.info paper wallet, TREZOR, or something else. If I go with a TREZOR then I'll only have around $600 to spend on buying coin. What do you guys think is my best option for storing 3 Bitcoins for the long run?
Blockchain is fine and great for day to day usage but I wouldn't recommend it for long-term storage. I also don't think you need to spend money on buying an expensive hardware wallet like trezor. I think the best solution would be a lite desktop client like electrum or multibit. Write the wallet seed down so you can restore you wallet if you lose it and make several back ups of your wallet.dat on cd-rs and USBs. You could also write the private keys down if you want. There, you're protected numerous times in case anything goes wrong. |
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Yeah right. Now tell me, who the hell in their right mind would want to donate money to the bitcoin foundation and what would they get in return? I really think they're going to need to look at alternative funding methods or just become a charity full of volunteers. I wont be sad to see the foundation dissolve or disappear any way so it can do what it likes in my opinion.
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Three big banks in three different continents (New York, London and Singapore) are actively exploring blockchain technology.
what say you?
Well if they were smart I should think they would at least be looking at it. Its a fantastic technology and I'm sure they're looking on how to capitalize on it. It's not just the banks that are exploring it either with corporations like IBM and a few others trying to adopt the blockchain technology or create their own. I think it will become quite influential over time. |
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Unless there is a real reason for usage it will be difficult to explain why to jump to it and use it. As payment instrument there is only possibility that Bitcoin will be accepted by merchands and shops worldwide. This will be very good reason for acceptance of people without focus on what technology is behind. How many people is using Credit cards and how many of them understand how it works?
I think there are plenty of real reasons to use it, though it's more of an underground niche of geeks and libertarians at the moment (and also capitalists looking to make a profit) though I think it will slowly break into the mainstream. I think people will flock to it when companies like Paypal and Visa etc ban its use on certain websites like file sharing sites and adult content (paypal wont work with most adult sites for instance). |
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Wow $1000 for staying at home? :O That's insane! Imagine that in my country, that actually is a part of the EU, you get about $500 in a normal, full time job.
In my first full time job, which was shitty by the way, I was getting $300 a month!
You can get more than that in some countries, especially if you have a few kids. I think the welfare system is a positive thing, but only if it's handled properly. They actually need to help you find or become fit for work not just pay people to sit at home all day. It's not a cushy life and will probably just depress you more but you can survive pretty well on it including a couple of luxuries but that's part of the problem. People get to comfy and dependent on it and why should they bother trying to find work when after taxes and other cuts they barely make much more than doing nothing so they do. |
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Damn, another 10 years before it happens? I'll be old by then  It doesn't seem to optimistic, though. Look at personal computer and internet expansion. 20 years maybe one out of 10 families had a computer at home and even less had access to the internet. Now it's hard to find somebody that doesn't, at least in developed countries. Soon the same will happen with electronic money. Maybe it won't be Bitcoin, but other electronic currency, but the money of the internet will prevail. I don't think the comparison with computers is valid. It's like back then saying computers will wipe out humanity within ten years. Maybe in the very distant future but not ten years. Bitcoin isn't going to wipe out cash within ten years though merchant adoption may be widespread by then. I thought these bro's where lowering their tone a bit, but I am clearly wrong here.
If they keep saying nonsense like this then I don't know how serious people will take them.
They should skip the bullshit and focus on their "Nasdaq" exchange. I always say : Action speaks louder than words.
They're just doing what all bagholders do - hype their holdings  . |
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Would be cool to see a google doodle but for some reason I can't see it happening or it's a long way off at least. Maybe if we keep sending requests to the email below that might spur them on a bit. Would be cool if google started accepting btc also and maybe it could coincide with that. I've did some looking around and it looks like one can suggest a doodle. This is also where the problem lies, Google receives too many suggestions so they respond only to a few certain individuals. The email that you should be looking at is: proposals@google.comSo we should suggest January 3rd, because of the genesis block. Who knows, with enough requests someone might get a response. Maybe if someone made a story about this on reddit, people could organize and send a lot of emails. |
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Interesting question and I think it all depends on your own individual mindset or opinion. The fact that you can buy things with it should indicate it's a success, but you can't buy everything or anything with it yet. I think people may see it as an uncertain currency until it levels out in value a bit but the prospect for profit due to the fluctuations is still attractive to speculators.
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Security is still the biggest stumbling to Bitcoin.
Agreed. If the hacks occur so often and on such massive scale (a la the BTC850,000 hack from Mt Gox), then BTC will never go mainstream. And unlike bank robberies, Bitcoin thieves are seldom caught. People need to stop trusting others with their coins and adopt better security. Most people never lose any coins and decentralized exchanges will put a stop to large thefts which is the way we need to go. |
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If the 1000 value was all down to the gox insider trading scam then it will likely be a very long time before bitcoin achieves this value again. I think it can easily happen but it will be down to merchant adoption and mainstream acceptance which will take a couple of years. I would rather see a slow but steady growth rather than a quick rally also which I think it will be.
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I would cry if my coins were stolen  . Never happened to me.
If someone scam you or stole bitcoins from your wallet, that can only be your own fault.
- Never hold big ammount of BTCBTCBTC in online wallet service, exchange, your cellphone etc.
- Stealing coins from offline computer or BIP encrypted, well hidden paper wallet is impossible mission
I guess ultimately it is down to the person to secure their coins and if they lose them to theft they failed to secure them adequately, though thieves are often very cunning and relentlessness in their pursuit to steal your coins so sometimes people can't be blamed exclusively for that. If someone breaks into your house is it your fault for not bricking up your windows and doors? |
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So I've recently gotten into BTCitcoins and was wondering how to get my feet wet in this wonderful cryptocurrency.
It seems like registering here would of been a good way to start. My series of questions include:- Are faucets worth using to start off?
Not really unless you like getting a few cents for a bit of work. Nice to get your first few coins but still not worth the effort. PrimeDice has a free faucet but you need to gamble it to be able to withdraw it but that takes up a lot of time but at least its fun in the process.[/list] |
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I refuse to spend any of my coins until they're at a decent price again. 500USD minimum. 30  its so big amount for me lost in trade ? how can Hmm... I had 30 shares of BTCT which I had bought for BTC1 each. When he decided to close down the trading site, he gave me a compensation of BTC0.015 per share. So I invested BTC30 and got BTC0.45 in return.  You lost 30btc? And what's BTCT? |
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Typically "people of color" refers to people with black skin, but why is this? Aren't brown, red and yellow colors too? Black is actually the absence of color, while white is the presence of all colors. If so, then the term "people of color" is really most accurately applicable to white people and/or pretty much everyone except for black people. Perhaps it's time we corrected this historical mistake and started calling black people 'non-colored' and everyone else 'colored'. This would actually be a terrible idea, since it would once again ostracize black people.
Anyway, I wasn't actually going anywhere with this. Just food for thought. Semantics. White people aren't white - they're more pink or peach. Black people aren't black - they're more shades of brown. I've never met any humans who were red or yellow either. |
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Over the last twelve months, I've heard numerous figures bill decentralized currency as one of the components that would form a better social environment on an international scale. Max Keiser in particular seems to be particularly supportive of the notion, yet never fully elaborates as to why cryptocurrencies such as Bitcoin would be favorable to the way things are now.
What I'm asking is, how would the use of decentralized currencies be preferable to the current system of banking? How would it's mass use make my life better than it is now? Why should we as a people throw our support behind this cause?
People like Max Keiser are proponents of bitcoin because the entire fiat and banking systems are corrupt and rotten to their core, and with bitcoin there are many ways this can help make the playing field a bit more fair. Just read up on some basic econmics and how the fiat money system works and you'll see why. |
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However, the main issue with Bitcoin still remains, ever after all these years : the concept is too technical for most people to comprehend properly, and that issue needs to be addressed sooner rather than later.
I don't think this is really true, though I can see how it may be off putting or daunting to new users. You can keep your money on your phone app and it's no different to using Paypal or online banking. |
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i would be happy if we see 300-400 mio funding again but who knows, maybe even some more  I think the figure will only rise this year too, but it is comforting to know that people with the big bucks can also see the potential we can. |
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No I haven't. I've been a persistent horder, but I might actually start spending the coins where I can just to promote the use of bitcoin, but then buy the coins back so I've not lost any.
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not a very accurate article. not worth the time.
Agreed. Plus, I'm not sure 2015 will be huge as that's what people said about this year, but give it a few years and I think we'll start to see a massive gain. Things like bitcoin are going to take time but people just need to relax and look forward to the future. |
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