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2561  Economy / Speculation / Re: Fear and greed indicator on: February 12, 2018, 04:35:03 PM

Out of their 7 indicators, you could only apply 3 to Bitcoin, maybe 5 if you wanted to do it for entire Cryptocurrency market, and the data would be less reliable than the data for stocks. So probably no point in strictly applying the same indicators.

I would love to see something like that for BTC/cryptos, CoinDesk had similar tool for measuring market sentiment index (positive/negative) but it's retired now and I don't know whether it was any good and how exactly was that measured.

And I have my doubts on usefulness of the CNN's tool. Current score is slightly lower than that of 2008 crash and I don't think things are as bad (sentiment is as low) as back then.
2562  Bitcoin / Legal / Re: UK banks ban crypto purchases on credit cards on: February 12, 2018, 03:36:34 PM
If a customer of Lloyds Banking Group also registered a Debit card under the same account, then I guess theres no problem at all. Lloyds actually doing something good to benefit investors from making poor investment decisions and risking more than the amount that they can risk losing.
...

They try to spin it this way, but how does this make any sense when they have no problem with you spending your entire limit on booze/hoes/gambling, but want to "protect" you in case of BTC price drop.
The purpose of credit cards is to provide you with a quick (instantly approved) loan option. The limit they set for you should be based on your income and credit score and should be low enough to make it possible for you to pay off your debt even if you splash it all out by impulse buying. So there shouldn't be a need for a 'nanny' approach.
The other thing is, before the credit crunch, UK banks were giving away credit cards like candy, with limits often exceeding customers' abilities.
2563  Bitcoin / Bitcoin Discussion / Re: UK Banking Group Barclays Confirms Crypto Purchase with Credit Cards on: February 12, 2018, 02:46:32 PM
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All that being said, buying cryptos with credit card is pretty stupid idea, unless you know you won't have any trouble in paying that off.
Also not every purchase with debit-card, automatically means debt right? One can have his own funds there and than its just ordinary payment.
But in general I do agree, not the best idea.  

You meant "credit card"? In general terms, using credit card = debt, but yes, you could make overpayment or transfer money to your credit card account and have a positive balance (I am a few pennies in credit on mine), in such case you're not borrowing from bank and it's no different than paying with debit card. But rarely anyone keep positive balance on their credit cards.

Other case when paying with credit card makes sense is when there are incentive programs for using CC (you earn points, get cash backs etc). So instead of paying with cash/debit card, you pay with CC and pay off the debt straight away.
2564  Bitcoin / Bitcoin Discussion / Re: UK Banking Group Barclays Confirms Crypto Purchase with Credit Cards on: February 12, 2018, 01:26:56 PM
Funny how things change. Back in the early Bitcoin days, Barclays were accused for terminating accounts of clients involved in Bitcoin trading, they would've never clearly stated what the reason was, but if the only change in your activity was occasional crypto-trading, then the reason is pretty obvious. Now they look like the good guys in the Bitcoin world, at least comparing to Lloyds and Virgin Money.

All that being said, buying cryptos with credit card is pretty stupid idea, unless you know you won't have any trouble in paying that off.
2565  Bitcoin / Legal / Re: UK banks ban crypto purchases on credit cards on: February 12, 2018, 12:15:56 PM
...but will at the moment still allow with debit cards.

Banning credit card purchases is somehow justified, as those are bank's money, not yours - it's a form of a loan, if they don't like the purpose of the loan - they can say "no". They couldn't impose such ban for debit cards (as long as cryptocurrency is not delegalised), it would be as ridiculous as bank forbidding you to buy certain food products, certain newspaper etc.
2566  Bitcoin / Legal / Re: Demand for a legal investment fund? on: February 12, 2018, 11:48:39 AM

What would be the benefit of investing in cryptos via the middle-man if one is savvy enough to do it himself? There's no tax benefit of doing that afaik. You wouldn't have to bother with keeping all your trade records - that's a good thing, but you'll have to pay management fees and lose easy access to your holdings, plus you'd have to trust 3rd party.
2567  Bitcoin / Bitcoin Discussion / Re: Cryptocurrency Mining Causes a Fire Incident in Russia on: February 12, 2018, 11:12:13 AM
From the article:
Quote
Russia has many miners, and this is partly due to cheap electricity. This is to the extent of miners mining cryptocurrencies in the residential blocks. In some cases, they break into power supplies to obtain free power and firefighters warn that this overheats circuits.

I suspect that this was the main reason that a fire broke out, you also see it sometimes when people steal power to grow weed for example.
It's not the cryptocurrency mining that caused the fire, it's most likely because this guy jerry-rigged something to get free power and did a very lousy job doing so.
...

Thought the same at first, but it's harder to steal electricity in apartment blocks and energy is quite cheap in Russia, so ne real need for that. If mining rigs were indeed the cause (it's not 100% confirmed), then it's most likely due to them overloading the circuit, i.e. multiple miners/other devices connected to one sockets via splitter.

Many of the old apartment buildings have electrical wiring hardly suitable even for the normal consumption, not to mention supporting mining hardware.

Remember kids - always ask a certified electrician for advice before converting your bedroom into mining farm.

Btw, here's the original article (with more pics):
http://siberiantimes.com/other/others/news/cryptocurrency-goes-up-in-smoke-fire-caused-by-bitcoin-mining/
2568  Bitcoin / Bitcoin Discussion / Re: The truth about Bitcoin energy usage. on: February 12, 2018, 09:43:05 AM
I read about it in an article how Bitcoin mining is taking so much energy to mine and it's comparable to the power consumption of rltowns and cities.if it's remotely true and it's a reason for great concern for the environment and us.as it is the world is facing a energy Crisis and we are making it more severe.the community needs to find alternate ways to mine if we are to stop this power drainage.

Yeah! Let's start with the energy consumption of the current world wide FIAT banking system, which is enormous compared to the Bitcoin network.

Is it really? Bitcoin mining currently uses more electricity than many of the small-mid sized countries: https://www.theguardian.com/technology/2018/jan/17/bitcoin-electricity-usage-huge-climate-cryptocurrency

And this will keep going up along with the price rise, halving should help though. It is becoming a problem, we already have China proposing progressive caps on mining energy usage, now there's Iceland with their bitcoin mining tax proposal:
https://www.newsbtc.com/2018/02/12/iceland-may-implement-bitcoin-mining-tax-energy-consumption/

Also:
http://metro.co.uk/2018/02/11/iceland-use-energy-mining-bitcoin-powering-homes-year-7304155/

It's all fun and games until mining causes energy shortage resulting in costs of living going up for everyone in affected region.

2569  Economy / Gambling / Re: BetKing.io - Dice, sports, poker coming soon - 50 BTC Jackpot, 20 currencies on: February 11, 2018, 09:12:40 PM
...
To claim your free Golem tokens join our telegram group and follow instructions https://t.me/betkingcasino  

Claimed and received. Thanks Dean!

But think you forgot to enable stats for Golem. In 'stats' tab bets/wagered/profit shows zero, but clicking on my name correctly shows over 146 wagered. edit: Sorry, I think I was looking at OmisGo logo, both look similar. All stats are showing fine.
2570  Other / Meta / Re: Merit & new rank requirements on: February 11, 2018, 07:44:44 PM
...
You can still figure that out if it's really that important to you (subtract 1000 from Legendary merit scores etc). I just don't see it as transparency if anyone who cares already knows what's behind that number. ...

Yup, but X years from now, it would be hard to distinct actual merits earned and legacy merits, it would take a bit of investigation to compare 2 members by their score. Not every member would know when/how merit system was implemented.

IMO, in terms of transparency, the solution is pretty simple and I proposed it here:
https://bitcointalk.org/index.php?topic=2862794.msg29382779#msg29382779

2571  Bitcoin / Legal / Re: Suing Exchanges for Forks on: February 11, 2018, 03:05:36 PM
Some exchanges have not, and have no plans, to give access to coins from bitcoin forks. Many of them are already worth a substantial amount of money, and likely will increase in value. Is there a legal basis for suing exchanges to get access to such coins?
...

The only 2 scenarios I can imagine, when you would have a ground to sue them is:

1) Exchange promised to credit fork-coins proportionally to customers' btc balance, but later changed their mind and didn't.
2) Exchange made it impossible for you to withdraw btc for unreasonably long period of time, i.e. overly long maintenance, your transaction was stuck as pending for weeks etc.

Other than that, they can do whatever they want, since, by not withdrawing, you didn't care about the fork.

It's kind of like saying: bank made profit on my 0% current account balance - I demand my share of it.
2572  Bitcoin / Bitcoin Discussion / Re: What would bitcoin be worth without Tether? The answer: around $4,500 on: February 11, 2018, 02:43:39 PM
I read this somewhere: Scary
...

Where exactly have you read that? Post source, so we can see how that estimate was derived and comment on that. Is this based on assumption that USDT have been printed out of the air just to bump btc price?
2573  Economy / Service Discussion / Re: possible Poloniex leak/hack? on: February 10, 2018, 11:25:17 PM
...It just doesn't look legit to me. ...

It's likely 99.9% bullshit. Apparently those emails/passwords are invalid (didn't check that myself though). If he was legit, he would contact Polo directly for ransom/bounty demand, then Polo would have no choice but to take immediate actions like sending mass emails asking everyone to change their passwords.

I reckon it's either a troll, or he just wants to hype it up to get people to click or download whatever he'll post tomorrow, which could be a malware.

2574  Economy / Services / Re: 🚀[Signature Campaign] 🚀LEGOLAS Exchange 200 Members Required | [CFNP] on: February 10, 2018, 10:56:24 PM
3 Weeks 100 posts and never got paid. Great admin, great job! Leaving this campaign.

You can't leave. This campaign ended 2 days ago.
2575  Economy / Service Discussion / possible Poloniex leak/hack? on: February 10, 2018, 10:52:26 PM
Hopefully it's nothing and the guy is just larping but someone posted a snippet of, allegedly, poloniex' log in credentials and is threatening to dump complete list tomorrow:

https://twitter.com/poloniexhack/status/962288838692474880

Let's wait and see till tomorrow whether he delivers.

Edit: if he tweets any link tomorrow, be extra cautious and inspect before clicking/downloading anything.
2576  Economy / Gambling / Re: BetKing.io - Dice, sports, poker coming soon - 50 BTC Jackpot, 20 currencies on: February 10, 2018, 10:32:21 PM
so excited for your poker launch , hopefully we will have an active and good bitcoin poker room
also I hope you be more strict against abusers , cause it seems nitrogen hasn't done anything to prevent cheating and abusing
any sneak peak about your promo plans ?? will there be a rake race or something similar ??
also can we expect a tourney schedule that suits both European and American players ?

Also curious about poker launch marketing strategy.

A massive freeroll(s) with generous prize pool would most likely attract a lot of new players (if properly promoted and announced in advance), get them to sign up and make them familiar to the site, which is a half way to making them a regular players. Tough thing would be to pick the right time to account for time zones.

Signature campaign could be useful too, it doesn't have to be expensive, there's almost no open campaigns, other than ICOs paying in not yet existing tokens.


How are you going to go around the multiple currencies? Definitely the best approach (but not the easiest one) would be to do what BetCoin did, convert deposits into 'chips' i.e. with fixed 1 chip = 0.001 btc, and translate altcoin deposits to chips at the current market rates.

ps. Is there currently any poker site that accepts ETH and/or other alts (BetCoin hasn't relaunched poker yet afaik) ? If not, BetKing would be the only site that does that and that's very easy to promote (ie on relevant subreddits and alike).
2577  Bitcoin / Bitcoin Discussion / Re: Crypto and Bitcoin Technical Analysis For Starters on: February 10, 2018, 08:59:19 PM
Nice plagiarism OP, you really put some effort in tweaking the original content with synonyms, didn't you.
Here's the original article:

https://theleadbtc.org/blog/2017/09/27/z-bitcoin-crypto-technical-analysis/

Something tells me you've done the same with most of your previous posts, other than bounty claims.

Reported.



2578  Economy / Gambling / Re: Why is it so hard to find a sports betting platform that accepts eth? on: February 09, 2018, 11:14:13 PM
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Nah I'm just stating facts and nothing more. If I want to use bitcoin to bet, I need to buy some bitcoin from an exchange, and then pay around $20 worth in withdrawal fees just to deposit to a betting site. Sure if u already have some bitcoin handy it's not terrible but transacting bitcoin using exchange is horrible and it's a fact.

If exchange charges you their own fees on top of miners' fees, then they probably do the same for ETH and other cryptos. Anyhow, you can't blame Bitcoin for such fees, just use different exchange ffs. I think BitStamp has free BTC withdrawals.
2579  Economy / Services / Re: 🚀[Signature Campaign] 🚀LEGOLAS Exchange 200 Members Required | [CFNP] on: February 09, 2018, 07:26:03 PM

I've noticed that I (and few others I randomly checked) have received a double payment. Is this a special bonus from Legolas or was this sent by mistake?
2580  Alternate cryptocurrencies / Announcements (Altcoins) / Re: eCoin Launched! on: February 09, 2018, 07:12:04 PM

Nah, it's worth to have such shitty coins to remind everyone how easy it is to fake price and market cap with low volume (and on exchanges with no fees).

Price on CoinExchange: $189.57 (no trading fees)
Price on C-CEX: $8.24

Seems legit.

If there is such a big difference in price between these exchanges wouldn't it be easy to make a profit by buying on the much cheaper exchange and selling on the expensive exchange? For that matter, why would anyone be buying on the expensive exchange? I doubt the exchange fees are $100 a coin.


Of course that would be true if we were talking about functional coin and proper exchanges. In this case:

1- price (~$190) was pumped on exchange with no trading fees. If there wasn't many active sell orders, anyone could pump it to any level buy buying/selling to himself.
2- I hear the coin's network is down, therefore you can't transfer between exchanges.

e-coin was the name of the bitcoin exchange WIREX. Some anonymous devs made this coin (probably in cooperation with Yoshit Exchange (Yobit) and that's also why  nobody is able to deposit and withdraw because the network is just broken garbage while yobit owner and friends pump it since they own almost the whole supply.
...

Yobit would list any shitcoin, no matter how poorly designed for a fee. It's their business model.
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