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People here have claimed that Bitcoin is in fact controlled and ruled by China, as mining is centralized by Chinese mining institutions.
Do you think that China is controlling/ruling bitcoin yes or no?
It is not possible to know exactly. But we know that China is a serious influence on bitcoin prices. A large majority of miners operate in China. China does not directly control bitcoin. But I think they control the bitcoin indirectly. to me i think they where influencing bitcoin in future, but now as soon as the users of bitcoin are increasing so their influence on bitcoin is also decreasing so we can say that they are not now influencing the price of bitcoin any more. As in other investment instruments, bitcoin is also valued according to people's wishes. News in China is still affecting bitcoin. But the actual control is in the hands of the whales. When whales want, they can raise and lower the price. |
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The year 2017 started nicely for the bitcoin. But ETF and hardfork news negatively affected the price of bitcoin. In this process, many people who are excited and made a sale are lose money.
Now the price is starting to rise again. If there is no setback, the price may be $ 2,000 at the end of the year.
Oh yeah I totally agree with you this year 2017 I think is the history of bitcoin because of the price . I think also the bitcoin price is increase around $2000 but its $1500 its enough for me because $2000 is hard to reach because in $1500 investor for sure will sell their bitcoin . But no one knows what will happen in the price of bitcoin but I hope the price become stable and continously increasing so the bitcoin world become great and happy . Yes, $ 2000 is a little high target. In the worst case, we can see for sure $ 1500. But the projects related to bitcoin started to grow. There is an increase in venture projects especially made with blockchain. This could lead to a bitcoin reaching $ 2000. |
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What if somebody will make a huge dump and sell it all the way to earn some profits because of this rally in bitcoin,and someone sees it and do that same thing. Is there any effect on bitcoin when someone to this,?
Bitcoin needs to be calm when trading. We have to be very careful especially in dump and pump situations. You do not have to worry if the price of bitcoin drops. Anyway the price will rise again. But it may not rise again when altcoins fall in price. Many people are losing money in altcoins. yes that is the nature of bitcoin that it s price increase and decrease from time to time. i am hopeful that in future we will never see any downfall in the rice of bitcoin . As with all investment instruments, bitcoin is also an investment with risks. Remember that the bitcoin is still an experimental application. There are billions of people who do not hear bitcoin. Of course, when compared to altcoins, bitcoin is a much stronger investment instrument. |
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What if somebody will make a huge dump and sell it all the way to earn some profits because of this rally in bitcoin,and someone sees it and do that same thing. Is there any effect on bitcoin when someone to this,?
Bitcoin needs to be calm when trading. We have to be very careful especially in dump and pump situations. You do not have to worry if the price of bitcoin drops. Anyway the price will rise again. But it may not rise again when altcoins fall in price. Many people are losing money in altcoins. |
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The year 2017 started nicely for the bitcoin. But ETF and hardfork news negatively affected the price of bitcoin. In this process, many people who are excited and made a sale are lose money.
Now the price is starting to rise again. If there is no setback, the price may be $ 2,000 at the end of the year.
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People here have claimed that Bitcoin is in fact controlled and ruled by China, as mining is centralized by Chinese mining institutions.
Do you think that China is controlling/ruling bitcoin yes or no?
It is not possible to know exactly. But we know that China is a serious influence on bitcoin prices. A large majority of miners operate in China. China does not directly control bitcoin. But I think they control the bitcoin indirectly. |
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Hi friends,
As far as I know, bitcoin payments take a little time to approve. Will these approval times make it difficult to use bitcoin in our daily lives?
For example, I would get a coffee from Starbucks. Do I have to wait for approval to pay for what I have done for hours?
Bitcoin may not make sense for short purchases. But I think it would be more suitable for long term shopping. For example, we can make payments for a product that we receive as installment with bitcoin. In fact, we can use bitcoin in the payment of products like coffee. When we enter an appropriate fee value, our transactions are confirmed within 10 minutes. |
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Bitcoin is still a new technology. It is counted at the beginning of the road according to other investment vehicles.
We can think of it like the first years of the gold mine. Bitcoin is the gold mine of the age we are in.
I believe that it will gain much more value in the future. Yes, bitcoin is a good investment tool.
I think long term thinking will be helpful when investing in bitcoin.
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We are now experiencing the efficient, fast and amazing convergence of technologies which one way or the other greatly contributing to the rise of the cryptocurrencies and making Bitcoin as the King of the Hill so far.
Looking into the future...what do you think will be the scenario involving Bitcoin twenty years from now? Will Bitcoin be worth more than a million or will it ceased to exist? Or will a new crytocurrency replace the supremacy of Bitcoin...?
It's hard to comment on the future. It's a bit difficult to make estimates, especially for technology-related issues. Because there's always something new going on. We are consuming technological innovations very quickly. But in my opinion, bitcoin will start to be used more. At the same time bitconin will increase in value. |
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As far as I understand, we have to wait 10 minutes. In other words, a minimum of 10 minutes is required to confirm the operation.
Even if we enter the transaction fee too high, it will be confirmed at the earliest 10 minutes.
Then it makes more sense to enter the average values for the fee value.
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No. Today bitcoin can not handle 7 tx per second (in average). The information in wiki is outdated. Can this value be increased when the bitcoin system is used more intensively in the future? Is such a change needed? If there is such a requirement, can the protocol be improved? Yes, it can be increased. Larger blocks, SegWit, lightning are methods of doing so. There are lots of options. Needed? That is a question you'd get many different answers to, depending on who you ask. Transactions in the Bitcoin system are confirmed for a minimum of 10 minutes. So the transactions like visa does not have to be confirmed immediately. Could such a change have not been made due to these features? |
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When I look at the online screens on the trade sites, I see that a lot of transactions are made in succession.
It takes a bit of time to confirm the transfer process with Bitcoin. Even if an appropriate fee value is entered, you may have to wait.
How do you transfer bitcoin so fast among people in these sites?
you deposit your bitcoin, altcoin, fiat on these sites and they give your "account" some credit which is just numbers and you exchange this credit with other accounts on that site (exchange service). and that is why it is fast and that is why centralized exchanges are popular despite being so bad. I've traded on a few of the exchanges and it's quite fast but, you're right, the exchange is judge, jury and executioner as far as the trades go. It's worked well for me so far but lots of people have lost money leaving it on exchanges. I've just been lucky. Especially there are too many people in the altcoin trade site losing money. I lost money at the polo yesterday evening. It was a very solid pump for XRP. I bought XRP thinking that the price would rise. I've lost half the money I'm currently depositing. Due to connection errors in Polo, many people lost BTC due to XRP. |
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There's no actual transfer of bitcoin. The site holds it all in one wallet, and just uses a database to track individuals' account balances.
That is correct. The only actual bitcoin "transactions" that happen at exchanges is the deposit and withdrawal of bitcoins from the exchanges. Everything else is just an accounting entry. Yeah. I tested it myself. I sent some btc to Polo. The quantity at the bitcoin address given to me did not change at all when I made several transactions on the site. All transactions take place through their own databases. And your balance information on the site is being updated. If you want to withdraw money, you transfer the account you specify. I understand that they do not keep btc on the site. They keep it as a cold storage. Then they pay collectively for withdrawal requests. |
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No. Today bitcoin can not handle 7 tx per second (in average). The information in wiki is outdated. Can this value be increased when the bitcoin system is used more intensively in the future? Is such a change needed? If there is such a requirement, can the protocol be improved? |
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Gambling sites give a bitcoin address for every user. Users send btc to these addresses. They can play afterwards.
How do they ensure the security of these servers? The script they wrote could be safe. But a person working in the hosting company can change these bitcoin addresses. Users who are members of the site will send btc to the hosting employee's address.
What kind of security measures are they taking for this?
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Sites such as https://bitcoinfees.21.co/ calculate the average fee value required for approval of transactions. The higher the Fee value, the sooner we are approved. Does this have a certain limit? If the value of the Fee is too high, is it possible to be approved in less than 10 minutes? |
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Your Username: Deep BTC
Position to Apply: Member
Your Current Post Count: 60
Your BTC Address: 1L7hEVxWFt48BEQUc56RLRThfcZBd39giV
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Hi,
User: Deep BTC
Postion to Apply: Member
Posts Start: 61
Address: 19Ykq5kk6hGLw3p71XSB48qADDf3Drfwm9
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There are two important parameters for me. The first is "Provably Fair". The second is "Instant Withdrawal"
The gambling sites with these two features are good for me.
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I like gambling games that are often played by more than one person.
Bingo, for example. There is more competition and excitement in these games.
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