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My "Plan B" is to continue to hold on to it. If it drops too low, I definitely won't even consider selling at a loss. If it point to possible bitcoin infrastructure suffering massive total breakdown, no way I will further buy into it. Seriously I doubt if that is ever Plan B. That is why I never put all my money into something which I can't afford to lose. I rather go with the "lower risk and lower gain" approach.
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Browsing through the "about us" page seems convincing enough with the profile of the ceo and that's the first thing i would look for to check reputation. Anyway, just like any other online wallet and exchangers, think they are okay. But they should have wrote what other security features put in place like cold wallets, multisigs and such
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Theoretically they can but by doing it, they will also hurt their own economy. If they are going to shut down oil export, what are they going to do with all the oil that they have? The revenue from the sale of oil is used to import other stuff
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Good news everyone, the campaign will continue next month (payout around the 1st of February!).
For the next month, payments will be sent directly to your BIT-X.com account deposit address (I will still escrow funds, while accounts are credited by BIT-X). Please sign up for an account there, there should be no issues this time.
I will now send a message to all previous participants who may now reenrol. You will have to reenrol to be counted.
The google doc will be updated with reenrolled/new participants.
Previous participant here would like to enroll for another month. Here's my btc address at Bit -X Address: 3BfHwGzhXZViwqCML6HoZ4bTv7xVzaYruu |
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Hmmm...interesting. you do have a good point there. The most damaging effect these altcoin has done towards bitcoin is the reputation. When people start to link altcoin to crypto and naturally when you mention crypto people will indirectly link that back to bitcoin. It's cynical no matter how small or how minor it is.
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If I will lose anyway by playing safe, why should I play safe?
That's true, I think headline inflation is massaged, and it's truly more like 5% PA, leading to losing nearly half the value of your money in 10 years, meanwhile you can get a maximum of about 2% interest in "high yield" savings accounts. I am pretty sure both of your numbers are overstated. Inflation over the past year has been roughly 1.7% and interest rates on savings accounts tend to max out well under 1% (probably closer to .5%). The return on things like bonds and stocks however are vastly exceeding inflation so if you invest your money in these kinds of investments (as you should if you have a long term timeframe) you will overall gain money after inflation Yes and no. But over the years ive noticed purchasing power with the fiat that i own getting weaker. You can say average inflation is 2% but if i measure using basic necessities like for example eggs which cost probably like 15 cents a year ago and is now 20 cents, that doesn't actually reflect annual inflation of 2% |
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I hope it doesn't happen because if it does whatever bitcoin amount which I'm holding right now will not be able to compensate. Everyone seems to believe that when there's economic downturn bitcoin price will move in the opposite direction. However the perception does not seem apply to everyone. bitcoin has not reach that status considered a safe haven to maintain as store of value. Only among the circle of bitcoin holders. That is for now, but maybe will change in the future.
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If you are into risk taking, trading bitcoin against other altcoins can be profitable. Depends on how much you decide to put in and which active pair to trade the return can be quite good. However be forewarned that there's risk involved and it should be much safer to trade in established coins like doge, ripple but avoid all the newly startup coins.
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Get a bitcoin related domain name and use it on free web hosting like blogger. Write on anything related to bitcoin and earn back from advertising. You can only buy when there are discount coupon codes.
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Nice list. How about founders of top crypto exchangers like cryptsy, bittrex or even people from localbitcoin. That would be cool.
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So close but yet so far. I adjusted my buy order yesterday but didn't go through. surprisingly price is still very well supported at the 300 level.
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the short reply would be .... Never...
they will just keep on printing money and Gov bonds, which will only increase such dept.
You know that the debt is denominated in the very same USD that's being printed, right? yes i do, and your point being...? The point being that if I owe you USD, and I print USD, I can ask the guy running my printing presses to print up whatever it is I owe you & give it to you. Debt paid, easy peasy  Debt paid but it will have dire consequences. What if bitcoin is a long term secret plan from the us government to destroy the debt? bitcoin gets mass adoption first then usd goes freefall, bye bye debt
No because it's open source, it has no backdoors, so why would the control maniacs give up the power above the currency? It makes no sense. Plus, the media propaganda always speaks badly about the Bitcoin, if it were a government false flag, then it would be cheered by wallstreeters and media propagandists. He is arguing that if the government had created bitcoin, they did so to cause the value of the dollar to fall so the government can repay their debt with money that is worth much less. I agree that this logic does not make sense because the government would give up control of their monetary policy and it would be difficulty to prevent bank runs in times of economic crisis. It would be better for the government to have a strong Dollar while creating a lot of it. Governments tend to want to have a weaker currency (to a point) because having a weak currency means that their country's economy has advantages over their trading partner's economies which results in higher domestic economic growth which results in higher tax revenue for the country, which results in a more of an ability to repay their national debt You are right that right now governments in the West are looking to have a weak currency but I don't think it has the advantages they say it has. Having a weak currency has its advantages especially for countries which are net exporters. Sometimes currencies exchange rate are manipulated in situations where they expect to have trade surplus for that month. |
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Very informative. First thing that caught my attention is this. More than half of the bitcoins in circulation have not been used in transactions the past three months and about a third have not been used in the past year. These overall statistics constitute an estimate of the proportion of bitcoins in circulation which are held for “investment” purposes.
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Our three letter friends have put pressure on the foundation to introduce another buggy Bitcoin Core, I am willing to bet that within a couple of months catastrophic bugs will be found once again (whoops).
So far so good for me. I see some positive changes in there and that is why did not hesitate to try it out even though it is a release candidate. |
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Great! While he highlighted the weaknesses of bitcoin but in the end overall he gave a positive outlook on the future of bitcoin.
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POS=no production cost=no value
If I can produce a coin without any cost, why should I pay any thing valuable to exchange it??? I will just go ahead to mine it
Fiat money can have value without production cost, because there is a law to force its circulation, and the cost to make that law can be a war, which costs millions of times more energy than POW mining
Pos concept still needs electricity to keep the computer on for a certain time period before the reward comes. There are certain systems that dictates at least minimum 2 hours so there is still some cost of production attached to here |
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A step forward on the transaction fee. At least now with higher fee paid for the transaction this will be put on higher priority for confirmation.
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Market is pretty slow. Just hoping that when the holiday season is over, there will be continued buying from traders. For now, I'm adjusting my buy order from 250 to 280. Overall still remain cautious so my bet is pretty small right now. Hoping for the best  |
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Come on try not to paint such negative outlook for the coin. I wouldn't compare it to a scam run by a bot. I mean anything can still happen. Try to look at the positive side. Microsoft for a starter. Next waiting for paypal integration. Hopefully another big giant corporation or retailer announcing bitcoin acceptance. And on the price, I see a strong support at certain level, so nothing to worry about.
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