It doesn't matter where your online casino is based, it matters where it does business.
Anyone that does business in the US needs to comply with US law, and the same is true for any other country.
It does matter where it is based as countries do have laws as well. Yes, the US is the biggest concern once you're legally set up in a country and operational. But that's after. |
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Everyone on here is such a perma-bull it's almost hard to read all the comments. It seems everything is good all the time!  I think the price is coming down and it won't require 20 Million dollar sells for it to happen. Buying pressure is running out which is no surprise and selling pressure will increase with merchant adoption because they don't actually want to hold Bitcoins. Bitcoin will someday be worth a price of what it is today and much more but at the moment people have driven its value way beyond what it should be at this point in time. That will correct. It could be that we are about to enter another long downtrend. Sentiment has really turned around(outside of this subforu anyway  ) and it's much worse now I think. And you might be right about the buying power running out. |
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Well everyone has known that Mt.Gox was incompetent since early 2011.
I'm mostly waiting for some specific answers on what happened. Because at this point it looks incredibly shady.
Yes, but most people are not aware Mt gox also steal from customer beside being incompetent. That is very true. People did trust Mt.Gox. |
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Bitcoin is more likely to succeed if it's possible that it may fail. If it was clear that there were no risks, then earlier adopters would be less inclined to diversify their wealth by divesting. If these people didn't divest (sell), then coins wouldn't diffuse as quickly into a wide and efficient wealth distribution. I don't know how old Peter Todd is, but his linked-in profile states the he received his bachelor's degree in 2011. So I assume he is in his twenties and that five figures 1 was enough that he felt he should diversify (perhaps to sleep more soundly at night). So, once again, it seems like bitcoin is evolving as it should. 1I'm assuming he means CAD and not BTC. I'm not sure I understand your point about wealth disfusing. The market price reflects the perceived risk. The amount of coins is irrelevant really since bitcoin is divisible down to the ten millionth. Maybe I'm not understanding you here. |
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Are you selling goods or is it a gambling site or something?
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Mario Kart? Does that count or does it have to be online?
Diablo maybe?
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I'm pretty sure that the bitcoin dev team(and almost certainly the mining community) are extremely resistant to change and might just be straight up inflexible. I can't imagine a situation where the current bitcoin devs would push forward with any major protocol change. And I think it makes it reasonably likely that an altcoin with totally new technology will eventually surpas bitcoin. (note: I own no altcoins)
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The Personal MBA by Josh Kaufman is good if you want a good overview of modern business thought.
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If you buy Cex.io shares on a big dip and then sell them on a big up shot, could you make money that way? It seems like it's just another way to gamble with your btc, no?
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This is a very interesting idea and I've often thought about applying the open source concept to business, and how that would work out.
One issue might be limiting the growth of the business by paying out too much of the profit early on. How do investors decide to take out their profits or invest in growth? If even a small percentage completely take out their profits it can really hinder the growth of the company I think.
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We should be worried even when some pool has 20% of the total hash rate, they can get lucky several blocks in a row and do a double spend. 51% just means they will be lucky much more often and can perform double spend with better probability.
So yes, we should be worried about centralized mining, and we are since 2009, hence p2pool exists, but miners are greedy and selfish, unfortunately that's human nature.
However, even 90% of the hashrate still requires malicious intent of the pool owners to perform double spends, and they will be obviously visible too, causing panic and destroying any value of that doubly-spent coins. There is very little practical sense in such an action, similar to some nuclear state blowing up all their nukes on their own territory - just because they can does not mean they would.
Still waiting for an official statement from cex, meanwhile I hope miners with a brain will switch to p2pool. And if you would want to protect your coins - sell cex contracts you have *now*, nobody but cex ever made any money on them anyway; and go buy a 1TH hasher pointed at p2pool. The power is in our hands.
You're right. People should be concerned about any centralisation at all in mining. 20% 30% whatever. Look at how far it's gone. It's not decentralized any longer. |
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Ghashio has little incentive to bring down bitcoin as that is their business. Still all miners on ghash.io should switch.
Yet they continue to allow people to sign up for their pool and offer no disincentives like raising their fees. How is it possible that they are only seeing short term profit over long term gains? What is wrong with them? |
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As their hashrate stays around 51%, some people are selling for fiat as a hedge. But I believe some may choose to buy other cryptos, also as a hedge,
so if it gets worse we may see BTC / USD down while other cryptos could go up (at least compared with BTC).
If the downtrend continues, then even if GHash won't exploit their 51% (or higher), they would have proved it's possible to manipulate the price down.
+1 I believe PoS coins will profit the most from this. I've found in my experience that a vast amount of bitcoiners are completely against the idea of new cryptocurrency technology. I think a lot of the people buying altcoins are already in to altcoins. The amount of new altcoin tech hate you seen on places like reddit is astonishing. |
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I think when there is a 20% price reduction over a 0.22% increase in supply, it is a good time to buy. Simple math. Think about it.
Lol i think about it but i don t see the relation between the two number. They are independant. 0.22% of bitcoins were out of circulation and now those bitcoins may soon be in circulation thus the total supply of bitcoins in circulation will increase by 0.22%. |
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I'm not sure how these replies relate to the theft of shares from the link I posted. How does Ghash have anything to do with it (other than me throwing my speculative question related to their involvement)?
The 51% thing is a big deal but I wanted to talk about the fact that there seems to be a critical flaw with the way mining pools currently work that people can exploit(not >50% attacks, read my original link). The 200-300 BTC that the pool lost is a lot. What really makes me worry is that people can do it on p2pool and no one can stop them as far as I can tell. And we want people using p2pool but no one is going to want to if it's being exploited.
This is not a sensible attack on p2pool, the only way to do it would be to withhold a p2pool share that would currently solve a block, the withholding party would NOT get the block reward, but neither would the pool, on p2pool it would essentially just be throwing away the block solution and no one would benefit... That is no different than any other pool. The point of the attack is to pay a little to hurt the pool more. If an attacker makes up 10% of the pool they can take a 10% reduction in mining income to make the pool look horrible (consistent 10% or worse "bad luck"). This would drive miners into "luckier" pools and possibly kill the pool off completely. So rhetorical question, who directly benefits if a smaller pool (to include p2pool) is wiped out? At least with Ghash they can't really gain much any longer from people moving to their pool at this point since they've already breached 50%. I mean they could, but at this point I have to assume they're not stupid enough to continue pushing their numbers in to the 50s. At least publicly. Perhaps they did this before and it has paid off for them in the form of more people going to their pool. And now we're seeing these record numbers partially as a result of this attack? Maybe it worked too well? |
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What do NXT people think about NEM?
What are the advantages that NXT has over NEM?
If you were to advise someone like myself who is interested but doesn't own any alts, what would you recommend?
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Do some non-European nations Name the nation here. I can get information for any country, as I have premium access to various demographic journals and archives. Actually I am working in the demography sector for the last 8 years.  ----------------------------------------------------------------------------------------------------------------------- Demography for Singapore (2013): Total population: 5,312,400 (Singapore Citizens - 3,285,100; Singapore Permanent Residents - 533,100 & Foreigners - 1,494,200) Total number of Births: 39,720 (-6.9%). 62.7% of the births are to ethnic Chinese, 13.8% to ethnic Malays, 11.0% to Indians, and 12.5% to others. Total number of Deaths: 18,938 (+2.5%) Natural population growth: 20,782 (24,182 in 2012). Total Fertility Rate: 1.19 child per woman (1.29 in 2012) Ethnic Composition (no change from 2012): Chinese: 74.2%, Malays: 13.3%, Indians: 9.2%, Others: 3.3%. I think the 12.5% of births coming from others while other's only make up 3.3% of the total population is interesting. If I were to guess I'd say Sri Lankans might make up a good part of those numbers. edit: also making these individual posts is fine in my opinion because it makes it easier to quote the stats so we know exactly what we're discussing. |
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Anybody here still playing FlyForFun?
I remember there was a guy who's dad went bankrupt and lost his computer store because he kept buying in game currency in that game. Something about spending it on some girl or something. I think I might have read it on Something Awful, but I'm not sure. Oh that sucks, never though people would spend so much money into games.. Well, changing from my local currency to USD, I already spent 94USD in Elsword. The game has a system much like TF2: you can get for free containers(in Elsword, Ice Sculptures; in TF2, crates) and the item to open it is a thing that costs a bit more than 1 buck to open.(in Elsword, Ice Burner aka IB; in TF2, Keys) The idea behind this is a gamble system to get nice and unique visuals with a very rare drop chance. From those 94$, all the 35$ I spent yesterday I will dump everything on IBs. But Elsword keeps putting more and more things into the game, its impossible to not dump more money in it to not get behind. Just to keep things up, at least 30USD must be spent, because there are some itens that can't be traded, neither can be get for free. One of these is the expansion of your skills shortcut, or the so called B-Bar. You go from 4 skills to 8 skills, what in a hack'n slash game like this is a must have. I think the guy from the FlyForFun game spent around $20,000 USD or something. I think spending money on games is alright in moderation. But some people go too far. Also if you're already rich it doesn't really matter. But this guy ruined his business for nothing. |
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there are a lot of opinions on what actualy happened to mt.gox, i believe none of them.
imho , mt.gox ceo 100% was greedy enough to play/trade with clients money, swinging the market like a whale, it isnt as crazy as it sounds if take a moment to think about it.
but in the end it was their incompotence that got them, and im surprised i was lucky enough not to have money there in the time of the fall, coz i usualy allways get burned, last time it was liberty reserve, those of us who are longer here know what im talking about...
cheers
It won't surprise me if this is true. Certainly won't be the 1st broker to use customer's money to gamble. This would make sense. In fact, anything makes sense except the "we were robbed" story. I simply don't believe that they didn't have the keys in cold storage. I think that the management was simply incompetent. They had zero internal controls. Well everyone has known that Mt.Gox was incompetent since early 2011. I'm mostly waiting for some specific answers on what happened. Because at this point it looks incredibly shady. |
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