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we can think about a easy way bitcoin may grow, by starting from a value of $10 and adds a zero for each additional halving
$1000 by 2017 is an okish price, if remain stable, for 2020 i'm expecting $10k, with the above rule
another rule i like to determien if the current price will be stable is to see if it was reached at least two time with a strong pump and dump, and $1000 was already reached
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Hello, everyone!
The difficulty of BTC is increasing aggressively. The mining profit is getting less and less. I believe it's far from logic that miners are going to pay more electricity than what they earn! I wonder how long SHA256 could be profitable? What do you think about the future of SHA256?
The price of btc will eventually increase to compensate, that's the beauty of Satoshi's vision. it always had (so far). that said, network only cares about price/expense as a whole, not in any individual case. Obviously, for POW, those with lower electricity cost will be more profitable. actually it's the diff that compensate with the price increase, in fact with the recent increase the diff is catching up quickly, but still i see plenty of margin for profit there are time where the diff increase regardless of the price, i guess it's because of competition, mienrs still coins between themselves |
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At a $250 price point the only mining you could try to have is GPU altcoin mining on nicehash and have it payout Bitcoin. Going to be difficult to get a rig built at that price though.
with an amount so low it's impossible to build a gpu rig, you can't even afford the components part with $250 let alone the gpu itself the onyl way for the OP is to go with second hand cheap antminer s5 or s7 and have a very low electricity, maybe below 5 cent |
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there are like there are when you hold gold for a long term, i see no difference here, usually those company don't hold anything they just dump to the ground every bitcoin penny they receive from their customers
also this apply to everything, to banks, stocks and every other categories, everything has risky not only because it's volatile...
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I know it is wrong.
It is theft. So there must be something wrong with you, your morals, your conscience and your thought processes if you are even thinking about it. Let me put it this way: I know this guy that has over 1,000 BTC. I am pretty sure I can take them from him however I might have to torture and kill him to get him to give me the BTC but I am pretty sure I can dispose of the body in such a way as to not get caught. Pretty sure. Is it worth it? the funny thing is, when the government do the same to you, i'm talking about your case Burst, it's not considered theft(or you were in agreement with their decision? i doubt it was morally correct anyway) but when you do it to other people it's considered a crime this whole system is fucked up really |
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Cyborgs are definitely more far-fetched and hard to construct than androids or A.I. Androids with unhindered A.I. able to act at will is actually terrifying. The problem is not with humans losing their humanity to technology slowly by replacing different parts of the body with artificial ones, but with machines having their own mind and perceiving the human race as inferior to them.
Just watch Westworld, it's another brilliant HBO production and touches on this topic of building artificial intelligence and the issues arising from it.
satoshi could be very well not a human android or cyborg but just a bot like the one that has won at GO made with deeplearning algorithm but again to make oen of those bot you still need an human behind it, this mean that someone has all the idea and just put it in to the bot |
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They hate (or dislike) it because they don't have control.
They can't ban it, and they know it. Because they aware of that, they are going to live with it, but don't know exactly how to deal with it.
They have laws about taxing/money laundring/etc. but it's very difficult for them to control it as they want it.
What do you mean they 'can't ban it'? All any government needs to do, is to make it illegal for any of it's citizens to transact in Bitcoin, and prohibit their financial system from servicing organisations who are involved in the exchange of Bitcoin to fiat currency. Sure, as with illegal drugs, the population will still be able to get access to Bitcoin should they really want it, but why would they want it if they are living in an economy in which Bitcoin was total taboo? "Governments" isn't equal to a single entity hopefulyl, therefore what a government decide against bitcoin is irrelevant, it will only get banned there, this is why you can't do shit to bitcoin, unless all the government agree to ban bitcoin and somethign is telling me that this will not happen ever, also notice how there are many illegal things in this world yet they are still "used", this enforce the fact that bitcoin is untouchable, in my case i would still use it if it was banned everywhere.... |
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I think the SEC will reject the ETF, Bitcoin is still not mature/liquid enough.
It will be reviewed later this ore next year...but it will get approved at some point.
well you need exposure to have more liquid and be more mature, etf is the best compromise for this now, by approving it it will benefit to bitcoin the reason must be jurisdictional and not related to bitcoin growth Can we expect a horrible dump & price fall if the ETF gets rejected? I fear that is going to happen.
i don't think so, price reached this tage two times, it will be harder for any dump to make it again $700, because more people bought again at these level |
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Some of my thought for 2017:
1. For everyone staying that bitcoin can't compete with traditional payment processors - with proper fee there is no delay on payment.
So unless bitcoin will always be mined with speed 10 minutes per block money transfers won't be any faster. Deal with it.
2. Bitcoin was designed to be safe haven and asset/currency, it will free us from next economic crisis.
It has its own micro world, the worse fiat is doing, the better BTC will be. We will see that in the future.
3. Yuan has lost about 14% against dollar in last 4 years. Do you think where Chinese citizens scared by further devaluation will flock? Bitcoin is the cure.
the problem is that proper fee are already very high yesterday to send 0.05, which is 50 euro, i was forced to send together 100k satoshi which is 1 euro, 2% fee is already approaching paypal this is not the average but it will be there soon, obviously i didn't pay so much but 2/3 and still get the confirmation fast enough, i think on the majority of transaction you can't be lucky and pay even half of the recommended |
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this whole claiming himself to be satoshi is just to ride the wave to be notorious and get rich, i guess if he was really satoshi he would not need to go out and claim that he is satoshi
real satoshi would not reveal his identity he is rich already he don't need exposure
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it depend on what you mean with volatility, a 10%(arbitrary just to give an idea) or less volatitlity will always be there even with great adoption and big value
and volatility isn't something you can control it will fix itself slowly the more people will buy bitcoin, as long as you have always the same whale playing with the market this is not possible
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i still need to use both because something like foods can not be bought with bitcoin and you need a bank account for that, hopefully i have no fee with my bank
i don't cry about unconfirmed transaction, but unless you are a miners you can't support anything, running a node will not add to the vote for activating segwit or any hardfork
We need to be more stubborn and hate banks, paypal, credit cards with all our soul. I never use them. I personally buy almost everything with bitcoin and if there's any reason to pay in cash then i find people locally who can exchange. how can you buy foods with bitcoin? in many place it's not ccepted, if at least some supermarket consider it we may get something but as today i never heard of any supermarket accepting bitcoin |
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I made one (ccminer based). See the boat thread. not released? meanwhile amd have already one, another unfair distribution... I released the amd sgminer many months ago, it works for nvidia as well. Then Wolf0 released a faster version, but for amd only. yeah but i guess cpu suage is at 100% as always with opencl it doesn't start with suprnova pool...the sgminer is not working for me Hi Amph, which Cpu do u have? crappy one g1840 just because you need it for the rig and your rig works fine with this CPU and 6 Gpus? yeah that's not the problem for sure, everyone use the g1840 I never use cheap CPU..never. My miners are either Xeon Hexa Core or i7 Quad. My next baby will be Kaby-Lake and Skylake-EP :-D X299 FTW. Rephrase what I always noticed and see in this forum: Who buys cheap buys twice! Or cry because weak cpu is not capable of running the miner. Pfff tired of this. on a large scale wasting money on expensive cpu is not recommended, but if you run 1 two rig i guess it's ok |
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I made one (ccminer based). See the boat thread. not released? meanwhile amd have already one, another unfair distribution... I released the amd sgminer many months ago, it works for nvidia as well. Then Wolf0 released a faster version, but for amd only. yeah but i guess cpu suage is at 100% as always with opencl it doesn't start with suprnova pool...the sgminer is not working for me Hi Amph, which Cpu do u have? crappy one g1840 just because you need it for the rig and your rig works fine with this CPU and 6 Gpus? yeah that's not the problem for sure, everyone use the g1840 |
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What was the biggest 10x+ "alt pumps" so far? ethereum? it went 80 times or 8 thousand percent higher than initial price. I think that game credits is a record holder with 10 000x price increase or one freakin milion percent  from only 2 satoshi to 20k. pascal went crazy high this time, it went from 1k initially and then to 30 and then again to 100k, maybe not x10 in one sit but it definitely wnet more than 10x in the end, fro what i gathered at least once per year there is a huge altcoin pump, among the new that are launched, and another possible huge pump on one old coin |
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the funny thing is that without this new it would not be probably increase to $1500, i mean the hype of this new is what will make bitcoin increase to that level not the news itself
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Fee war. So meaning we could possibly reach a 25 usd dollar in fees per transaction?
Theres a guy here who kept hyping LTC and that it will activate segwit and that everyone will start using the altcoin. I did my research and found that segwit activation in LTC is under 3%. Thats worse than BTC. I dont think the LTC cares about segwit.
LTC already has 4X the Onchain Transactions Capacity of BTC without segwit, LTC does not need it. BTC would have to upgrade to a 4 megabyte BlockSize to just Match LTC current Capacity.  only because of faster confirmations(2.5 minutes), not because they forked to 4mb or whatever, and we know that faster confirmation lead to orphan litecoin is still plagued by it, unless they recently introduced soemthign like subchain... |
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segwit does not solve intentional spam, malicious users just wont use p2wpkh keys
segwit does not solve intentional quadratics, malicious users just wont use p2wpkh keys
LN does not solve intentional spam, malicious users just wont use LN hops or hubs.
the only way i can see that will sort out the fee war and the intentional real spam, without much drastic action is to introduce a new "priority formulae" that actually does a proper job of sorting out the spammers from the normal users
how can you identify who is a spammer and who is not, a spammers can also be someone that send normal transaction from time to time, to deceive his action and plus spam the network also at this point the network is simply overloaded with non-spam transaction, it's not even about spammer for now, i means TX are not in queue because there are spammers... |
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What happened after the 21 million coins are mined?Nothing. Life will go on and so will Bitcoin. If (bitcoin) become a universal currency, so the richest guy is the one that hold most coins?Exactly like in the fiat world, the richest hold the most paper bills. How much will it be if 21 million coins are to split for the 7 billion people on earth? Each person will hold 0,003 BTC Is fiats equivalent of paper? No, there's much more fiat in circulation than the paper notes representing it.
Can the elderly use them? Yes, as long as they know how to use a credit/debit card.
What if another algorithm replace bitcoin in the future? It can happen, but Bitcoin can be upgraded as time passes, so there shouldn't be a need for total replacement. Is the holder vulnerable to hacking? No, if he's careful. The most vulnerable are exchanges not your personal wallets. Remember that banks, ATMs and your mobile phone are also vulnerable to hacking. Do we need general acceptance if I want to use bitcoin?No, you can start using Bitcoin right now. There's a large list of online stores and companies that accept Bitcoin. Why can’t we just use fiat if just for payment?You can use whatever you like. Can we guarantee the storage of value via bitcoin?Nobody can guarantee that anything, used as money storage, will retain its value. Gold, diamonds, real estate and stocks can also lose value. It seems that the person who wrote the third question, bought Bitcoin at $3000+  Looks like the recent traffic jam spice up the transaction fee collected by Miners. point 1 miners will mine for fee which will be way higher and need to be readjusted and i hope the block limit is solved by that time otherwise you have a big problem point 2 and 3 doesn't make sense because if the first is true the other will be false, you can't have 0.003 btc per people and someone still holding 10k coins the point about switching to another algorithm is not that easy, miners will need to buy their huge farm again(this require years to setup...), because you know asic can't mine eanything else, which expose the network to an attack--->not feasible |
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That said, the include fee-rate is 'Fee / KB 0.00362056 BTC' which translates to ~362 satoshis/byte. This is ~3 factors higher than the recommended fee-rate. Fun fact: With Segwit, such a transaction would require a smaller fee rate than the equivalent transaction creating 187 outputs.
fun fact segwit is not active fun fact segwit if activated will only offers the discount if the funds were actually using a p2wpkh addresses... fun fact not everyone will use them not to mention that segwit only scale to 2mb, you will only fill double of the current amount of transaction, in 1-3 years this "2mb" block will be full again, if not already, because none is telling us that more TX will not come in play if there was a 2MB block right now it can be that many people already are deliberately not spending their BTC because they don't want to pay crazy fee... and at that point you can't activate segwit again, and i doubt LN will be a thing because it sidesteps from what bitcoin is |
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