Bitcoin is based on the simple laws of supply and demand. If there are more people willing to buy the price goes up. If there are more people willing to sell the price goes down. The price goes up and down to reach an equilibrium with the supply and demand. This is no different than a stock.

If you are really trying to ask if bitcoin is a Ponzi scheme and that the people who invest in the end lose, well no. Bitcoin has value and isn't based on more people joining. There is trade between bitcoin and actual world goods. It is also the only currency that has a fixed supply.

You don't need to worry about double spending. If you make a transaction using bitcoin there isn't anyway to cancel the request. Once it is made it is made. The only way to stop a transaction by double spending is if the transaction isn't confirmed. In the real world people wait until transactions are confirmed in order for it to mean anything.

I'm excited. Bitcoin is growing! There is no better time to earn/buy bitcoin than right now. (Well, of course buying in the past would be better, but we can't change that). Right now bitcoin is growing and as its market cap increases more and more big players are getting into the game. 

As others above me have said. Yes, it is a possible security breach.

No point in uninstalling now. If the damage was to be done, it has already been done. Just don't make any large transactions on any other big accounts. Also, don't put personal information on your computer. To be safe, I'd move your bitcoins to another address with the private key securely kept not on your computer. Make sure you send it to an address that hasn't used its private key before.

I've never used BTC as a digital currency in any form. I've only bought some in the hopes that some day I will. It is amazing how much Bitcoin's price has increased over time. The fact that it is going up so high may make people weary of spending it. When something raises in value over time, people start developing a hoard mentality. When it starts to level out I expect more people to be active with spending and receiving bitcoin.

None of the forks are that impressive imo. The only one that really matters is BTC. This is the only one that is actually used in the world. The rest of them are pump and dumps. Get rid of your BCH. With BTG, maybe wait for a bit. I hope it pumps so I can dump it. I missed dumping it at the beginning when it was at $400ish. Arghhh!

The blockchain splices into two. All the bitcoin that you have is safe. You receive an equal proportion of the forked coins as the bitcoin that you hold. For example, if you hold 2.5 bitcoins you will receive 2.5 of the forked coin. You must be careful though. Sometimes the newer coin may not be as stable and could end up sending your bitcoin for some technical reason. If you choose to move your coins, move your bitcoin first out of the wallet before you move the forked coins.

Long term effects of a bitcoin fork could be good or bad. Nobody knows. Often times it is just a pump and dump. However, one day it could be the beginning of a new bitcoin. Only time will tell.

Amazing journey. I got in at $2,200 before the hardfork for bitcoin cash. I had known about bitcoin in previous years, but dismissed it as a Ponzi. However, its use will increase over the years. I hope we all benefit greatly from the bitcoin price in the future. If only I had got in at $600. Argghhh. Oh well. I'm still up a lot. Lol.

Overall these forks seem like a way for people to pump and dump some coins. I can't really complain though considering how much I've made off of Bitcoin Cash.  That was pretty much money just handed to me.

Bitcoin forks on a fundamental level are a good thing, because they challenge bitcoin to improve it. Also, bitcoin is more open source that way which is cool. Seems like it is just being used to pump and dump though so pragmatically, not so much.

Number 1 is correct. If you've noticed the price of cryptos, generally when BTC is up the other alts are up as well. Every now and then they are different, but usually they go with each other. I believe this is due to the fact that people that get into altcoins probably own bitcoin as well. The more people that get into bitcoin the more likely they are to get into alts and vise versa.

It is possible that very far down the road people could see the value in bitcoin and all the other cryptos could collapse. For sure, some cryptos will collapse, but there may be some that hang along with Bitcoin.

Number 1 makes sense in the short term. Number 1 or 2 could be possible in the long run.

So I try to withdraw from Betcoin Poker so I can get bitcoingold. I'm plotting this like 3 days in advance. I actually should have done it sooner, but I was pretty busy. So I put in the field my total balance of BTC0.109. Unfortunately, they put the measurement for withdraws in miliBTC instead of bitcoin. So it turns out I only withdrew BTC0.00010969, so in other words pretty much nothing. Meanwhile I'm unaware and waiting for this withdraw to go through. 12 hours later I check and see this error after studying the address on blockchain.info. So then I correct my mistake and make another withdraw for the correct amount, but of wait. Fuck me. I put in 1JsQg6EAueiMdz43zmrwKLNHHLe87Ghv9a instead of 1JsQg6EAueiMdz43zmrwKLNHHLe87GhV9a. I am unaware of this mistake. I'm waiting for my withdraw ticket to proceed. Many hours later I see the cancel request button is gone so I'm thinking "yeah it is going to go through". To my horror I see tonight that it still hasn't gone through. Turns out I may have missed my opportunity to gather some Bitcoin gold. Seeing that its value is pretty much garbage, it doesn't bother me too much now. But at the start of typing this, I was fuming.

Overall it isn't Betcoin's fault that I screwed up so many times, but it just was so frustrating.

I am kind of mad that I missed the opportunity to dump my bitcoin gold. Hopefully there will be a next time.

paper wallet > hardware wallet > exchange

Paper wallets can not be hacked since they aren't stored on a computer. This is the best option, especially if you aren't a technology wizard like a lot of people on here are. Paper wallets always get the coins from a hardfork too. Just make sure to keep them in a safe or another safe place.

Wait, whoa whoa whoa. If I move my BTC I'm fine right? If I understand this correctly it goes:

If I move my BTC I could lose BTG, but my BTC is safe.

If I move my BTG I could lose BTC, but my BTG is safe.


This would mean it is most important not to touch BTG correct?

I like keeping BTC. Probably will be best to sell BTG though once the fork happens or at least wait for it to get pumped and then ditch it. I'd hold onto a very tiny amount just in case. With your BTG money you can just get more BTC.

So there is a lot of hype on the BTG fork. The number 1 quality that I hear is that it allows GPU mining. Basically anyone at their computer can mine BTG. How is this done? I would like to mine BTG, but there is nothing that I have found on the internet that can help me.

16 text messages came to my phone with verification numbers. They were only delayed. Phew, I can finally go to bed. I was worried Coinbase was going to give me the run around before the fork(s).

Look at that BCH graph!!! So much better than anything we've ever seen!  



 

It always is odd to me the number of newbie posters that come out of nowhere to support BCH. It is as if they got an account just simply to support it.

So I'm trying to send coins from my Coinbase account to another one. The transaction fee is $0.06. I get a SMS verification to my phone. After double checking everything I enter the correct information in and then Coinbase brings up an error message saying you don't have enough funds. I exit and reenter everything the same. Suddenly it says the transaction fee is $1.99. WTF Coinbase. I'm thinking, okay whatever and hit the send button. This time it doesn't send me a verification code to my phone. I hit the little button that says resend verification code. Nothing. I try a couple more times and nothing.

WTF coinbase?!

We have a long way to go before the Bitcoin world gets its shit figured out. I don't understand why this simple task is an issue. I want to go to bed, but ughh. I also want to get this done.

Anyone else having issues?

I keep hearing this claim: BCH is Satoshi's true vision.

Why do people say this? I thought Bitcoin was Satoshi's vision and creation. Why do all these people pop up and say such great things about BCH? Can anyone who knows a lot about crypto give me some reasons why BCH is better than BTC. I mean, if it was so great, wouldn't it be growing right now?

It may actually be a great stepping stone to get more people to trust Bitcoin. The Bitcoin community needs to work with government in order for it to work. If the governments don't like Bitcoin then consider it obsolete. Governments are mighty and powerful we are mere people.