Banks can work with bitcoin, but there is a risk they will be tempted to do fractional reserve. If they don't, then naturally custody fees would need to exist. Its probably not going to have much demand, but it might entice some people in Europe that were more skeptical before.

As i have said before, banks have the opportunity to be exchanges, they could even get into lending, but it would be highly unethical if they did following fractional reserve thinking, and it will surely lead to drama later (bubbles and crashes, bankruns, etc).

Since all bitcoins always have to be accounted for, they can't really pull this off as easily as they can with fiat. The blockchain can always tell you in what wallet a coin is, and unlike fiat they just can't make bitcoin out of thin air. With fiat they can work with a fraction, because you don't care what serial your banknotes have, and you don't follow the serials of the banknotes that you deposited.

It would be better if the law somehow blocked the banks from fractional reserve practices, which might be the reason some countries treat bitcoin as asset rather than "money". You are not supposed to have fractional reserve of your gold ingots, for example...

In the end the whole world needs to adopt Austrian school economics, there is simply no other way.

You seem to forget, that the other manufacturers made better products. That is not the case with altcoins. The demand for bitcoins has not diminished, which is why it has the price it has. It appears that, bitcoin is working as intended, and is undergoing the proof of time.

In a way, Bitcoin IS a work of art, a "Mona Lisa" as you say, while the others have only managed to make bad copies of it. There only 1 (true) Mona Lisa and there is only 1 Bitcoin. It even comes with its own certificate of authenticity...

What is the market price? Whatever the market dictates. It is my theory that as more time passes, fewer increments the price will have Zoom out please, and see for yourself. It will never go down, simply because its supply is limited, but it is getting less and less increments over time. The only reason it could go to 100k as you say, would be if the demand somehow skyrockets. Given the pass of time, i think this is less and less the case, most of those that wanted bitcoins have already obtained them, and they don't want to part with them unless absolutely necessary, as is the natural consequence of a deflationary coin.

Should the price deviate too much from its "natural place", it will correct sooner or later, quickly or slowly. There is no reason to worry or blame the market, even if you consider everybody else delusional. Fact is demand for bitcoin has also has its historical trend, reflected in the market price.

Ask yourself, why would people suddenly not want their bitcoins anymore? What could you possibly say or do that would change their minds, that has not already been tried during the last decade? Satoshi said it could fail miserably and be worthless as you claim, or that it would succeed. 10 years later, it has a price you may not agree with, but the world collective known as the market agrees upon.

Its basically you alone, vs the world.

Things get valued not by what it costs to produce them, but how useful are for you at any given moment. It is the same argument of the price of a cup of water in the desert or an ice cube in the Artic. The value of things as explained by the Austrian school of economy, is something you MUST study to understand the kind of economy Bitcoin is leading the world into.

You may live in a country where your perfect politicians never damage the currency by doing stupid things like printing to fit their ill conceived budgets, but those of us living under hyperinflation, find the likes of Bitcoin invaluable, even if we are destined to exchange it back every time we need to buy something. But at least its better than see your money lose value overnight. EVEN with bitcoin price fluctuations, it is keeping a huge lot of the value you invest in it, and sometimes it even INCREASES it...

In my country, a bitcoin is 250 MILLION, it was like 150 MILLION last week, that while its price in USD actually went down a bit. DO YOU get it? The people who find the coin useful are plenty enough to keep its price going up. There are some of us using it for real, literally eating because of it, even if the merchant selling the food has no idea because he got fiat money that was exchanged prior the transaction.

Hmm that would make him/her Schrödinger's cat.

We can then assume he/she exists in both states, and only if you manage to find him/her, you will then know which of the states is in...

See? It all relates to quantum superposition, proof that he/she was aware of quantum physics

But do note that as long as there is no observation, both states are true. Would you risk killing him/her?

So from now on we can confidently assume that Satoshi is in both states as long as he remains unobserved, which is why no one may ever find him/her ever again.

There, mystery solved. Move along, move along, nothing to see here...

Hong Kong does not have a central bank. Its currency is managed by 4 large private banks. Of course that has nothing to do with anything, Central Banks are needed for fractional reserve banking. Sometimes they are also put in charge of the national currency, but that is optional. Countries can use another country's coin, but they still need a bank for the other banks to mitigate bankruns.

Bitcoin is already on the path of becoming defacto world's currency, its one that can be accepted anywhere.

The economy can actually collapse world wide, if some event makes people withdraw their money simultaneously. Thanks to the legalized ponzi scheme known as fractional reserve banking, more than 90% of the money does not exist anywhere.

The world is too far from having a world government, but it DOES have a world bank... That can buffer the other central banks from bankruptcy, should a bankrun ever occurs in a whole country (ie. a War).

Bitcoin is deflationary, and this needs Austrian economics. Therefore, there is no need for central banks, as the Austrians don't want fractional reserve banking anymore. For this reason Bitcoin reigns over inflationary that lose their purchasing power over time like eth.

Controlled (centralized) "crypto" by government you can already see in my country, and apparently soon in China. It is as you say, one address per person, and the only wallet is their online wallet in their central server. This type of garbage crypto will not occur on a worldwide level, there won't be a world government issuing one, its not possible the governments won't ever agree on terms and some would object the thing entirely.

There may be some national "crypto" coins, maybe even a wide region € like crypto coin, but nothing more.

Well, this might be a surprise for you but, i don't think all the world commemorates thanksgiving, especially when its apparently related to some settlers being spared from starvation from the would be subjugated natives by said settlers later...

Oh, and turkeys, nobody ever thinks of the turkeys.

If you want to be thankful, be it every single day of your life. Don't wait for an excuse mostly exploited for commercial purposes. And you were saying what about Christmas? Did you forget black Friday / cyber Monday?

Nope, the whole world doesn't even know, its an USA only tradition. Enjoy it, but don't forget others on this planet are starving.

With the cold war scare, no internet? Everything analog? NO thanks.

As most others, yes 2009, and put my pc to mine and then invest into mining or just buy Bitcoin.

Of course, my country was the richest of the region in those years, now its the worst. I won't say it isn't tempting, and relive the 80ies the decade of the personal computer, but you could do that today much cheaper and easy. I even miss a subset of the fashion trend.

Well in that period you could buy Apple stock or whenever they went public (no idea) then sell it all in 2009/10 for Bitcoin.

I wonder what exactly makes you "sick" of the Millenium, you can for the most part choose the life you want. Don't want a smartphone bothering you at home? Turn it off (or don't buy it). Many of the current perks are optional.

Unless you are a smoker, but i'm not so i don't care they can't smoke in planes anymore

Or run Linux with Libreoffice. No keys, no activation, no malware, no scams. 100% legal.

Spend the money you would have wasted in licenses by getting better parts for your PC, never worry about unwanted updates or subscription expiration. Free and Open Source Software is reliable and the most used in the world. That Web page you are browsing?, is not running on a windows server, the vast majority run Linux or BSD, and for a good reason.

Did you know that you can install Linux and Libreoffice legally in as many PCs as you want, for any purposes you want, without spending any money if you want? Better yet, you can hand copies away so that others use them too. You don't have to worry about others not having Libreoffice, just give it to them.

Its about freedom.

I don't know if you have noticed, but there is an ad banner that shows sometimes after the first post in a page. Those are official, i think you should be contacting the forum administration for this. This question would be better done in the Meta area i think, not in offtopic.

I don't know the exact details, but I'm sure you can make a deal for it.

But if you just meant posting a message as an ad, i don't think so. Again ask in Meta for details.

You can offer your own services in the services area though.

I have a direct answer for your topic question, 1 word:

Don't.


Windows and Bitcoin? Well its sad that's how Satoshi did it back then, but that is begging for getting your coins stolen. That OS has the worst security. Rather than worrying about licenses or if it was legal or not to upgrade your windows 7 into 10 (it was legal but i don't think you can do that anymore), you should wipe the whole thing and install Linux.

It doesn't matter if you spend the 120 USD the Windows license cost (at least the cheap one, don't ask me about the other flavors), its still a garbage OS that should be avoided like the plague.

You should do yourself a favor, and avoid any "legality concerns" by switching to Linux completely, then you will never need to worry about product activation or subscriptions anymore.

As for "breaking Bitcoin", you can't, period. It would be too long and boring to explain you why, but the system was so well designed that its simply impossible to pull that out. The blockchain, the miners and nodes simply make it more expensive than any gain you would ever theoretically make (the 51% attack).

Why yes, you would only need to have a mining power 51% above current WORLD mining hashrate. I think its cheaper to just buy yourself a quantum computer and crack the infamous satoshi's coins, and that would give you less money than what you invested in the whole thing anyway.

You may complement all the ideas given here, by re-watching those anime WITHOUT subtitles. Don't think your previous experience is a complete waste, you don't know it, but you can already catch some words just because you watched a lot with subtitles. It is funny, but you will only find out when you find yourself suddenly in a place where everyone around you only talks the language.

From abroad it is much more difficult, since you can always fall back to your native language, or native language speakers. It is true that living, say 3 months, makes a huge difference. But only if you end yourself in a place with little of your own native language, which is hard.

The good news is, Japanese people don't really speak English, unlike in Korea or Europe where you have a much higher chance of finding someone that speaks it. In case you have a Japanese community where you live, you can also try going there and just listen. Try not to think of anything, just listen.

If you want an excuse, you can go for the Olympics, but since that is very foreigner focused I'm sure they'll have plenty of information and guides in English, which is not what you want. But it could be a start, i guess.

And if you are really into anime, visit Akihabara, the anime shops, etc.

Also be ready to learn their culture, this is not easy, let me tell you. It can be very frustrating at times...

I'm curious, why only now that there is a "truck" you are interested? None of the previous models work for you? Do you really need to be traveling long distances in a truck rather than a sedan?

By 2021 these cars will be even cheaper. You can already buy an used model S for almost the same price of a new model 3. There is also the other car manufacturers bringing their electric cars which will bring options and competition in the market.

Oh and someone actually modded a regular model S into a truck, it doesn't look like the cybertruck at all, its just a half model s with a flat back, and its actually working fine. Of course it doesn't fit 4 people but the usual 2, and i think its smaller and compact, which is very useful in certain places (probably not so much in America).

And at the same time several jobs stopped, simply because technology advances made them obsolete. For example automation, you could replace manual labor with robots, but someone has to program, maintain and repair such robots, which happen to work 24/h a day.

Of course, you need far less technicians and engineers that the previous manual labor, so all those people spread looking jobs elsewhere.

Consider this: cars are very soon going to drive by themselves. This is going to put and end to, say, truckers. Later the same will occur to planes, pilots won't be needed anymore, etc.

There is also remote monitoring and controlling, perhaps one person (operator?) will be needed to watch over a fleet of self driven ships, trucks, planes, whatever. And programmers for perfecting and improving their AI, and the IT people to enable everything.

Some think AI can learn to program by itself and the days of the programmer are numbered, this is also something worth considering. Perhaps good enough robots can do all the IT job later.


But now, well its a nice option, if it tedious at times.

That is not something to watch out, it is something to expect. No matter what happens, it won't be exactly twice the price in the long run, mining will be less and less profitable, until only those with free electricity (or willing to just lose) remain.

You can't have large mining operations from renewable energy, unless you build a large dam for yourself, therefore mining will shrink. The market self regulates this, in combination with Bitcoin's code that makes sure a new block is found every 10 minutes and the reward for this halves every 4 years. Simple, and effective.

And yes, as time passes the (ever reducing) reward will not justify any large investment, so stop surveying rivers and valleys to build dams, you are too late if you were to order construction by the time its finished you won't be able to ever recover.

Hmm, did you know that i actually posted a thread about it last year?

Here is how to produce the ₿ (Bitcoin) symbol in xorg (Linux/BSD/etc) by keypres


As i explained back then, anyone with a recent enough unicode font should have access to this symbol. I mentioned Google's Noto which happens to be in Android as well. If you don't have this font in your OS, install it, its free. Other unicode fonts (updated after v10) should have this symbol by now.

Apparently this exists not only in vision, but in hearing, smelling, touching etc. Some people (very few) might have some sort (but not necessarily all) extra sensory perception. Ie, some can see, some can hear, etc, spiritual manifestations (whatever you want to call them).

Unfortunately this requires you to believe in these people, because if you can't perceive it, obviously you don't have the "gift/curse".

Suppose this was in fact the truth, you in the other side of the fence, can always call them nuts or con artists, because you yourself can never perceive like they can.

If only there was some way to "measure", i think this is where all the paranormal science tries to achieve...

And "who you are gonna call?"

One thing is for sure, it will draw a lot of attention. Maybe that's the intent, you are not driving "just a truck", but "The Cybertruck"...

Technically, any electric cars would work fine in Mars as they are. But it might probably be too dangerous to drive an Earth Tesla vehicle on Mars, even with roads built. I imagine proper martian vehicles would be far more under-powered (or bigger), as everything there weights so much less... (62% less).

You would be surprised. I know someone that buys them simply because they are cheap enough that can be repaired or used for parts, if you sell them cheap enough (around $200) it is in fact the last chance to get rid of them...

As heaters you can always play with BraiinsOS and force them to different speeds, if they get too hot just slow them (UC/UV) down... And perhaps removing the middle board helps too.

You were mislead. The point of bOS is NOT overclocking, but actually UNDERclocking.

It is about achieving the best efficiency ratio, the maximum hash per watt you can achieve. Overclocking actually does the opposite (unless your electricity is free and unlimited), which in the end means you earn less money.

Worry about lowering those voltages and speeds, and keep the hash going. There is no automation, every single hashboard needs to be carefully tested and measured to find out where its best efficiency lies. Again the lowest watt per hash you can manage is different per BOARD.

And because there are no "automated safety features", you are better of NOT doing overclocking, anyway. You can easily burn your miners using wrong configuration settings. Do not follow those that tell you overclock is good, it isn't. Best efficiency always wins, and with S9s, that is almost always by underclocking.

You need to measure power consumption and test speeds/voltages by yourself, PER board. No hand holding, if you want to make proper use of bOS. It is not "install and forget" firmware, you have to earn your efficiency which in the end will make your miners more profitable and longer lasting.

Exactly. It is not even sure it will remain profitable to mine 10 more years, in my opinion it will not. Large mining operations will come to an end, those that remain will be those with free energy, or those few that don't care to spend more to mine.

While bitcoin price will keep climbing, this is not in sync with mining profitability. In fact you can see for yourself how mining gradually becomes less and less profitable, and with every halving this becomes more and more so.

The greener solution is, the market. Just wait it out, and you'll see for yourself. All those miners you see struggling to pay bills, they will all go. Only those that don't care about "the bill" will remain.

A little price fluctuation isn't a "crash", stop using that word every time you see the price go down a bit. Crash is not a word you use when you see today a price lower than yesterday, price is reserved for "steep double digit" loses, such as a 90% loss...

It is even more ridiculous that you use the word "major", implying there is also a "minor" crash.

https://en.wikipedia.org/wiki/Market_crash

TL;DR: crash != down.

Also bitcoin remains #1 in all situations, since most altcoins move with it, while the opposite is not true.