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201  Bitcoin / Bitcoin Discussion / Re: Bitcoin has no competition on: September 13, 2016, 06:43:17 PM
BTC has competition but it seem that it isn't good enough at the moment and BTC will remain the leader for a pretty long time as it seems.
BTC volume is much higher than the other currencies.

The "volume" a coin gets doesn't concur that it is automatically better by any means necessary for whatever function that the coin should be doing.  You could have an "out house" in the back yard, and instead of being being built with lumber it is made out of solid gold, or you could have a normal toilet that flushes and connects to a sewage line... which is better? Well the out house is probably more expensive and people really like gold, sooo....

Weird analogies aside, I think you can still see where I'm getting at though.  There are definitely other coins out there that are improving on Bitcoins current flaws like block sizes, fungibility, other properties on a blockchain, etc. For the development on Bitcoin to remain stagnant just because it is the most valued currently doesn't mean that is a good thing.  

Side chains could work, but still...I mean I totally understand that 99.9% of all altcoins created are basically pre hyped pump and dump coins, but there are still some out there that are perfectly legitimate and are trying to create something unique for the sake of a need for it. Sitting back and saying, "Ah, yeah well... We could easily just put that on a side chain" and not actually do it or don't feel the urge too isn't doing any body any good.
202  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: September 13, 2016, 06:23:59 PM
I am thinking a Trump presidency could crash USD.  Either way, the next administration is going to go full-on fiscal stimulus, and USD is near its peak.  I like market-making in XMR because it is back and forth between BTC and XMR.  Another appealling trading venue is the Gold/Silver pair.  There is no taxable event until/unless you take out some USD, and you are always in PMs, worst case.  But for the moment, USD is where it is at.  As long as oil is crashing, PMs are going to have a huge drag.  I like shorting all the things right now (except XMR).  Also GBPJPY is a good bet.  I nibble whenever it dips under 130.



So are you pretty much saying take out a portion of your whole entire crypto portfolio and put it into PM's?  I think this is a pretty smart thing to do, but I would still ride out the rest of this year and hold XMR.  You're right though, if this were to happen it would be smart to keep it in either crypto or PM's to avoid dealing with Uncle Sam... But honestly though, I really don't think Trump will win; there seems to be an unavoidable manipulation in the election this year.  Who knows though, just the change from a somewhat like-able guy as president to either an old/ill witch or a short-fused oompa loompa will cause chaos in the markets regardless... remember, a lot of countries still don't like doing "business" with a woman anyways.

Back on point though, love reading your insights when I come check this speculation thread from time to time.  I still feel that if it does end up dipping to 160 again and possibly below it while remaining to have a strong support at 150 or 155 for the next couple weeks will be extremely bullish and will cause some people to start trusting the XMR market again... not to mention, DNM users will start to see that this isn't some elaborate "pump and dump" scheme.
203  Other / Beginners & Help / Re: Future of CryptoCurrency on: September 13, 2016, 01:56:40 AM
Hello members,

Would appreciate if someone could explain, why different type of coins will not manage good price such as bitcoin in future if someone start investing in it or how does it work. In future if governments start implementin their own fed coins, how will that influence bitcoin, lowing its value or ?

Thank your for your time and replies members.  Wink

As far as i can see, cryptocurrency has a bright future indeed. In case governments try to implement them in their financial system, wouldnt they try to manipulate them by controlling and tracking? I read some article that governments are considering making their own fed cryptocurrency, how will that influence bitcoin and others? Just a thought, doing research, im new to cryptocurrency.

Thank your for your time and replies members.  Wink

Amazing system.

So, the thing with cryptocurrencies is that it relies on a trustless, decentralized economy.  With bitcoin, or any other true, PoW (proof of work), decentralized currency, you need people to run nodes and mine the coin.  This is the only way you can secure the coins transactions, because if someone wanted to "hack" a transaction or do something malicious on the network, then that person would need to be very motivated to do so as well as have some serious computing power behind them.
Side note: this is why PoS (proof of stake) coins will never be as secure as PoW coins.

The feds might try to attempt to create their own currency; but let's imagine the fed decides it doesn't like how the Internet is bringing political activists together and they want to create their own "nationalized" Internet.  Well it wouldn't really work, because the Internet is everlasting and global.  If one country shuts down Internet access to the nation and essentially creates a nationalized Intranet to track citizens activities, that would have devastating consequences on the nation alone, but will have not that big of an impact on the rest of the world's Internet because that's just one country down and everyone else can still easily communicate with each other.

The "cat is out of the bag" with cryptocurrencies.  You could argue, however, that Bitcoin is already still easily as traceable since it has a very transparent blockchain system, but that's for another debate.  However, Bitcoin is a revolutionary concept of a payment system without trusting a third party... and that, in itself, is a very good thing.  There are more altcoins out there doing work on improving certain problems Bitcoin currently faces (block size, anonymity, etc. etc.), but as it stands, the Bitcoin network is just too powerful even as it stands today for the Fed to "replicate" and force people to use.  Hell, they are still sitting pretty with the whole fiat system that it would be pretty stupid for them to put it on a blockchain for everyone to be able to track and follow..
204  Bitcoin / Bitcoin Discussion / Re: Food industry and cryptocurrency on: September 12, 2016, 07:20:27 PM
I really don't see how this is a topic even worthy of a real discussion.  If you want people to mine the coins with electricity, do you need to pay the electricity company "electricity coins"? What about raw materials, such as lumber, to build your barns? "Lumber coins"? No... It just doesn't work.  Money is supposed to be a bartering tool for all forms of good and services, and isn't supposed to be used as coupons or tokens for something you're buying directly (i.e. bringing tickets to a teller you earned by playing arcade games to buy a stuffed bear, etc.)

I mean look at how food stamp debit cards work... you don't see those things being more valuable than money, do you? If some poor person got a food stamp card (which can be used to buy something nutritious at the grocery store), but decided that they wanted cash in exchange for their food stamps in order to buy drugs, then you will see someone buy it off them for way under the price of the card.
205  Economy / Economics / Re: Bitcoin or gold? on: September 12, 2016, 02:43:34 AM
Bitcoins is not so trusted and timetested as gold, i am gonna choose gold from this both, but bitcoins is also good, it's just my own opinion. Bitcoins is just new for me.
for some people who do not dare to take risks then bitcoin not the right choice.
you need a bit of courage to get more money. investing in gold would only provide security.
While you will not get a big profit if you invest in gold.
security have nothing to do with gold even with gold people will easily seeing you as wealthy person rather than bitcoin when you can hide your bitcoin
and also gold will give you quite big profit if you're investing for long term and there's only low chance to be losing since the price always rising up
yes that is a fact i am also in favour of bitcoin, i will always like to buy bitcoin instead of gold because there is a big fluctuation in the price of bitcoin as compare to gold. therefore there are always a big chance of making money if the price of bitcoin increase to much.

Honestly, if you are in it for the potential for increase in price with the ability to buy a lot; I would suggest you to buy silver. 

Silver has been at stupid low prices for a bit, and it's a nice hedge on the dollar as well, being a precious metal and all. It's probably your best bet to get the best of both worlds if you want something that's really stable and will secure your wealth in a valuable asset and something that has a lot of potential to increase in price; Just my opinion though.
206  Alternate cryptocurrencies / Altcoin Discussion / Re: Honestly, which is better? Monero or Dash? on: September 02, 2016, 11:52:44 AM
Ring signatures are better than master nodes. It is better to look under the hood and try to understand how it works. I am not a technical person but a quick google search and 2 to 3 hours of reading all the articles and comments from each side it would be easy to see which is better. The answer is right there in front of you. I also did not know that research and implementations of ring signatures started on 2001. It was wise for the Monero development team to use it in their cryptocoin to find answers in unanswered questions since 2001.

How I personally view it, is that buying Dash is sort of like buying a timeshare for some condo some where.  It is viewed as an "investment" that you might only use a couple of times, and whenever you are done buying whatever you need with Dash (I guess a soda?) then you sell your masternode/timeshare to the next person who is hoping the same thing happens.

Now I know you could argue that every crypto is the same way (buying and hoping to sell at higher prices), but it's the distinction of owning a "masternode" that controls inputs and outputs is what really turns me off from the whole Dash thing. Having one node that is better than the other one is just really... sleazy? (for lack of a better word)
207  Bitcoin / Bitcoin Discussion / Re: Danger when buying/selling BTC in person on: September 02, 2016, 11:42:44 AM
I mean, if you are going through a site like LocalBitcoins, then you don't really have to do actual IRL P2P transactions.  If you wanted to buy that much Bitcoins, you would probably have to make multiple cash deposit transactions to avoid KYC stuff/suspicion of weird activity going on; plus you would have the benefit of having the proof of the transactions actually taking place by taking pictures of the receipt and sending them to the vendors to prove you have made the purchase... Just going up to someone with that much cash in hand is a really sketchy situation.
208  Bitcoin / Bitcoin Discussion / Re: Who are the richest Bitcoin users and how much do they own? on: August 31, 2016, 11:50:24 PM
It's none of our business.

It should be that way, tbh, but the problem is is that people can easily copy and paste the public address to see how much that address has.  That's a real problem in, for instance, Satoshi's case (if that person is still alive) because he has made his address public and people can see his coins there and if he moves them at all.  So, unless Satoshi just all the sudden wanted to create a mass panic in the bitcoin market place; it's safe to say that the total remaining Bitcoins in circulation are 20 mill instead of 21.

Having a protocol in place where there is no ability for people to see how much you have in your wallet or trace where one person sends to another person is a pretty important thing for personal security of your own wealth.
209  Alternate cryptocurrencies / Altcoin Discussion / Re: THE RISE AND RISE OF MONERO on: August 30, 2016, 01:42:34 AM
Ain't this just a pump still just like how any coins can do? The graph on bittrex seem to have come down now. I does seem like users are already dumping it. Dark market don't matter to you if you are not in the shady business so this coin must really be for them only.  

bitcoin was around $100 when its primary use was in Silkroad

Bitcoin went from $1 to $31 in the first few months of Silkroad.
Feb2011.

Then it fell to $2 so...

Honestly at this point, it really kind of depends if you truly believe in Monero... because I mean as of right now, it's around the $8-9 range.  I wouldn't dare to play with putting a large portion of money in if you were planning on day trading, because whales are in abundance in this market now.  Price swings in either direction will make you emotional (either exuberant or pissed) and you will get out real quick if you are thinking in those terms.  It's either going to go one way or another, it will be platinum to Bitcoins Gold or it will be a bust. Just remember to invest with what you can afford to lose, and if it were me, I would just keep it in cold storage for 3-5 years and see what happens then.

210  Economy / Speculation / Re: Warning on: August 30, 2016, 01:28:47 AM
Lately and always. I agree when you say that "FUD" should at least be based on something. However it's up to people who "invest" to be able to read through the information and sort it out.

Absolutely.

Obviously, there are going to be people who get into the crypto world who act irresponsibly and go along with the crowd who posts FUD and a whole bunch of nonsense; but should that be on the shoulders of people who post that stuff here? Absolutely not, or it shouldn't be.

People who are starting to come here that brings some "real money" to the table, are probably not these type of investors I described above... they are probably going to do their research and plan accordingly.
211  Economy / Services / Re: ★ Coinroll ★ Signature Campaign ★ on: August 30, 2016, 01:24:26 AM
The payment date is Sunday or Monday ? beacuse we received our payments already in Sundays the previous weeks.

We already discussed this, just look at the previous post!
Post number #527 (https://bitcointalk.org/index.php?topic=1491815.msg15941083#msg15941083)

Answer in post that you quote means that withdrawal should be done in sunday morning, but in forum time we have already monday morning. So it is not clear and for sure not correct.

In short: "payments are in weekends"  - if you want to be sure to get your payment every week - make withdrawal in friday and wait till monday. If everything will be ok, payment will be on time.  Grin Till now for me work perfectly!

Well just to give you some peace of mind, I requested mine before friday to not worry about it on the weekend and I didn't receive my payment for the weekend.  Honestly, I'm not really worried at all; these guys are pretty good at remaining true to their word about everything so far and are very honest with what is going on.

The payments will probably come sometime next weekend though, if I were to speculate.
212  Alternate cryptocurrencies / Altcoin Discussion / Re: Is Facebook About to Get ‘Myspaced’ by Next-Gen Social Media? on: August 27, 2016, 10:22:03 PM
Idk, people sort of like the simpleness of Facebook and have no care in the world if it violates some of their privacy on the internet.

I really don't know if steem will really work that great either becuase 1) There aren't very many people who are really "up for" dealing with cryptocurrencies at this time; and 2) There have been other social networks that pay based on posts/views/likes that kind of failed even though you have a very small amount of people who do use it, but get paid very little over time (example tsu.co)

Simpleness and ease of use by tech n00bs were also the big selling points of AOL in its day.

Good point, but I'm still confused about what you were trying to say above.  YouTube "Red" now does this, but it's not necessarily taking off by any means (at least I don't think?). There are tons of other social media sites (reddit, tumblr, pinterest, twitter, etc. etc.), are you saying that you think some time in the future there will be people who would rather run software for their social media needs rather than quickly just connecting to the internet? 

edit: referring to this

Quote
My take is that Facebook will suffer the same fate as AOL This will not be from another proprietary social networking provider, or from a crypto currency specific network such a Steem. It will be from an open protocol that will allow users to choose their own social networking provider and software much as is the case today with email, web browsing, SMS etc. Such questions as payment for content by whom and to whom, and with what form of money will be addressed by the individual providers, their contributors, and their viewers much as is the case for example with web hosting today.

They will use a protocol rather than a proprietary service, much as is the case with email today. Some will connect to a provider such as is the case with many email services today, others will run their own social media client, while other will also run their own social media server. Using Gmail is technically no different form using Facebook. The critical difference is that the person on the other end does not have to use the same provider, or even use a provider at all.

Social media today is where email was for the most part in the 1980s and early 1990's. One can only communicate within a proprietary walled garden with others who were in the same walled garden. 

Email circa 1990
AOL members can send email to AOL members
Prodigy members can only send email to Prodigy members
CompuServe members can only send email to CompuServe members
...

Email circa 2016
Person A can send an email using their own server running Trisquel GNU/Linux (100% Free Software and totally open hardware) to person B using a Microsoft Windows RT tablet and Microsoft Live email. (The most extreme case proprietary software and locked down hardware). Persons A and B likely have extremely different points of view on privacy and freedom for example; however they can still communicate by email.

Social Media circa 2016
One can reply to a Reddit post only on Reddit
One can reply to a Bitcointalk post only on Bitcointalk
One can reply to a Facebook post only on Facebook
...

Edit: Breaking down the walled gardens and forcing competitors to cooperate with each other through an open protocol will drive down both costs to the user and profits to the former walled garden providers. Costs in social media are largely paid for via privacy and profits in social media are in many cases generated by spying and surveillance.

Right... hmm, that's an interesting way to put that.

I like the idea of having social media being mingled in with one another, but it's just kind of hard to see social media being that way since different platforms are so different in general.  Take twitter and reddit, twitter is composed of a bunch of posts with 160 or so characters max and reddit you can post as long as you like with a voting system... I really can't see how you could merge those two things together like that, but hopefully something of the sort would come out.

I like your ideas, it's just that generally (and it's a sad fact) people don't care if their privacy is being violated.  I know a lot people who keep saying: "If I don't have anything to hide, what should I worry about?"

... I mean that's like if you came home to your house to find someone snooping in your mailbox and looking in your windows, are you saying that you wouldn't be angry or somewhat defensive of your belongings/home? I don't really understand people sometimes, just don't.
213  Alternate cryptocurrencies / Altcoin Discussion / Re: Decentralization is a dream on: August 27, 2016, 02:08:38 PM

Not larger, better. There are ways to create a PoS cryptocurrency with fair interest and supply, which can match (for example) to mined bitcoins per year. 

Maybe when you own some and just hold it, but how will people get that supply if they don't purchase some? That's pretty scammy (ponzi'ish) to me I would say... and yet at the same time, not even remotely close security wise compared to a PoW algorithm. It sounds good to you on paper when you worry about collecting interest like a bank, but the whole point of cryptocurrencies is to get away from a "banking" like system and to create a decentralized currency that (theoretically) anyone can get by running nodes and mining, while also making it secure and decentralized.

Now in my mind, ASIC resistance is the way to go... but could be wrong.
214  Alternate cryptocurrencies / Altcoin Discussion / Re: Can coins like Monero challenge Bitcoin? on: August 27, 2016, 02:01:41 PM
I can see something happening where XMR will be in the running to replace bitcoin. The people in the cryptosphere have always been looking for a new coin they can support. Why? Because for some people bitcoin is trying to be what it should not be. It is trying to be in the mainstream and in the process it has been corrupted by the people who want to take it there. Do you think those people really care about bitcoin? Do you think the Winklevoss twins are in it because they want to change the world and disrupt banks? No they are there for the money.

 

Maybe so with the Winklevoss twins, but there are some people who are kind of in it for both of those reasons... think about it, they wouldn't have been one of the first adopters of Bitcoin if they didn't have some fundamental belief in what Bitcoin can do.

Example A) Look at someone like Roger Ver, he is a rich guy, yeah I get that; but he is going around to all sorts of places spreading the word of crypto currencies and, to me atleast, seems to be genuinely in it for the currency itself and thinks that it will change the world. 

The first people to have found out about Bitcoin and invested in it all had the same sort of ideological beliefs... now those beliefs are starting to get a little hazy and less defined.
215  Alternate cryptocurrencies / Altcoin Discussion / Re: Can coins like Monero challenge Bitcoin? on: August 27, 2016, 01:56:54 PM
There is quite a bit of marketing effort which has gone into Monero.
But right now, it seems to be far away from challenging bitcoin/

Marketing effort? I mean maybe people who are just invested in it and want to get the word out, but make no mistake in thinking that the devs are doing this marketing effort... actually they recommend you not investing in it.

This is a new frontier in the world of cryptocurrencies and Monero is on that front end... so invest accordingly to how you want to hedge your funds
216  Alternate cryptocurrencies / Altcoin Discussion / Re: Decentralization is a dream on: August 27, 2016, 01:15:40 PM

Why do you think that PoS is a scam? I believe that in some time a better way of distribution would be found. I'd like to compare it with bank interest (when you deposit some money).

And why you disagree? I have been told that banks are sometimes using a 50-year old code. If Bitcoin (for example) becomes a larger threat to the banks (or whatever), they will just enforce laws and create their own.  With that said, I'm not sure if its good cryptocurrencies to have a better adoption, because it could be the beginning of their end (as we know it). Don't get me wrong, I'm just trying to be realistic here.

PoS would create a "larger distribution of coins"? Not in the slightest.  First of all, cryptographically it is just unsecure to not have a PoW algorithm.  Someone would have to be insanely determined and have a ton of computing power on his side if that person wanted to do something malicious.

And secondly it wouldn't creat a larger distribution of coins over time.  People would just keep it in their wallets and not use the currency at all and just let it grow over time.  That's not how a currency should work, at least in my mind it shouldn't.
217  Alternate cryptocurrencies / Altcoin Discussion / Re: Is Facebook About to Get ‘Myspaced’ by Next-Gen Social Media? on: August 26, 2016, 08:44:18 PM
Idk, people sort of like the simpleness of Facebook and have no care in the world if it violates some of their privacy on the internet.

I really don't know if steem will really work that great either becuase 1) There aren't very many people who are really "up for" dealing with cryptocurrencies at this time; and 2) There have been other social networks that pay based on posts/views/likes that kind of failed even though you have a very small amount of people who do use it, but get paid very little over time (example tsu.co)

Simpleness and ease of use by tech n00bs were also the big selling points of AOL in its day.

Good point, but I'm still confused about what you were trying to say above.  YouTube "Red" now does this, but it's not necessarily taking off by any means (at least I don't think?). There are tons of other social media sites (reddit, tumblr, pinterest, twitter, etc. etc.), are you saying that you think some time in the future there will be people who would rather run software for their social media needs rather than quickly just connecting to the internet?  

edit: referring to this

Quote
My take is that Facebook will suffer the same fate as AOL This will not be from another proprietary social networking provider, or from a crypto currency specific network such a Steem. It will be from an open protocol that will allow users to choose their own social networking provider and software much as is the case today with email, web browsing, SMS etc. Such questions as payment for content by whom and to whom, and with what form of money will be addressed by the individual providers, their contributors, and their viewers much as is the case for example with web hosting today.
218  Alternate cryptocurrencies / Altcoin Discussion / Re: Is Facebook About to Get ‘Myspaced’ by Next-Gen Social Media? on: August 26, 2016, 08:28:16 PM
Idk, people sort of like the simpleness of Facebook and have no care in the world if it violates some of their privacy on the internet.

I really don't know if steem will really work that great either becuase 1) There aren't very many people who are really "up for" dealing with cryptocurrencies at this time; and 2) There have been other social networks that pay based on posts/views/likes that kind of failed even though you have a very small amount of people who do use it, but get paid very little over time (example tsu.co)
219  Alternate cryptocurrencies / Altcoin Discussion / Re: Decentralisation is a dream on: August 26, 2016, 08:20:29 PM
I am not an expert at mining or technical side of coin development. So Is this even possible to create a coin which will be Mining Pool resistant?
I guess anti ASIC coins can be created. But how exactly can we create anti mining pool coin? Maybe something like this exists already?

Decred is mining pool resistant, PoS stakers can vote agaist PoW miners

PoS is a scam in every single possible way.  I mean, I hardly agree with every single thing that OP was saying, but you do have to judge the crypto by it's usage and development... not just some hyped up white paper that uses a lot of buzz words to catch your attention, you need to dive a little bit deeper than the buzz words.

I do think some form of ASIC resistance is a good thing.  Centralization of miners would be a lot tougher, but all in all, if you want to use some form of crypto currency that uses a blockchain, then you will always have pools.  Unless you could some how force people to mine only on their daemon and prevent people to connect to other peoples nodes, then maybe... but that comes with a lot more cons thans pros in my mind.
220  Economy / Service Discussion / Re: Thoughts on signature campaigns - helping or hurting? on: August 25, 2016, 09:43:16 PM
Well, considering that you could argue that it drives useless conversations to be happening that has very repetitive idea floating around on a single thread over and over; you could also argue that it is the responsibility of the signature campaign to make sure stuff like that doesn't happen.  Sig campaigns (and I really can't blame them) go through and just see if it is X amount of length without reading into what that person is saying and in what context.  I feel that if every campaign was doing that, then what you see on the forums honestly would be so bad.
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