We have run out of chips again. New chips are being prepared. We need to find a better solution.
Our current ideas are:
a - kind-of traffic light that will show when chip level is too low - green ok, yellow under 50 BTC, red under 10 BTC
b - massive chip pool increase - that would require to open up for investing and that would require to set flat fee instead of donations
What do you think about both ideas?
My vote would be for B ahead of A because due to traffic which is not likely to stop, then the colours will be coming out too often and when that happens, clients begin to lose confidence which we all know is bad for business. The option B will be great, because I am sure clients wont mind paying some fees to get their chips delivered to them as soon as they need it than to donate only to come to the thread to announce how they have not been able to receive their coins and the likes. Opening it up to others to invest, is something I would want to be part of but the modalities for that will need to equally set out in clear terms and this needs to be done fast to address several challenges faced by clients. |
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Another reason to burst those who believe cloud mining is the way to go about making money in the crypto world. If you will not be afford mining farm, the best is to just stay away from mining and this is one of the reasons. Someone who is waiting to ROI in one year, will have to wait for another year which is not even a guarantee that it will happen.
Its so unfortunate that Hashflare that has been trying to create a new name for itself and change the misconception about cloud mining, will just come out in one night to change the terms and conditions of a contract without even giving the right amount of notification to that effect.
I hope those who can wait for the long period of time can eventually get an adequate compensating return.
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Forgot to mention:
I know I only asked about poloniex and cex.io but if you guys have any other exchanges you would recommend please post them here.
In terms of trading, i am looking for an exchange that (1) offers service to U.S residents, (2) does not require too much verification (okay if it does), (3) offers many different alt coins (like bittrex or poloniex), and (4) reliable in terms of withdrawing and depositing
It will will be difficult to get all the factors you have listed at once because aside those big ones you have listed, others will have more of one of those qualities than others. For the smaller ones that dont have large amount of coin but require little or no verification for that you can try hibtc.com, livecoin.net and several on this section of the forum but at the same time be careful to do your own due diligence in any one you decide to go with. The ones I mentioned, to the best of my knowledge, I have not had any issues regarding either withdrawing or depositing as there is even a notification in your mail for any of such activity. |
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Even though the effect of the decisions by the Chinese government is reaching an unprecedented level and the last time we went as low as this in recent time is prior August 1 but right now its facing us again.
The way bitcoin is structured, I don't think Chinese government can successfully kill it and its no other reason that when group of people resolve to go a particular way come what may, they can only be put down but not defeated and that is exactly what will happen in the case of bitcoin. Bitcoin has grown beyond nationalities or even continent and a whole lot of us have resolved to make this a success.
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Hi, are you guys afraid of posting or sharing gambling related topics & news in your personal facebook ?
is it because afraid of siblings, parents or girlfriend noticed it ?
or dont wanna let your workmate, colleagues know that you addicted to gambling ?
I guess the reason why I won't want to do that is simply because of the judging attitude of the people around and even no when I tell guys I gamble with btc online especially in the case of sports betting and analysing the odds, I am being looked at scornfully. If I should post gambling activities on my wall, I would not only be judged but equally recommended for therapy as that will be the next things after I would have been bombarded with calls from far and near. To avoid trouble, I stay away from such. |
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Gambling through the use of physical money will gradually phase out as it is being done all over the world where I can even bet on platforms that are not in my country such as bet365 but with my e-money i.e my ATMs, I can do that for those that accept fiat. This is what will be sustainable in the future.
Where bitcoin comes in is the aspect of doing it anonymously because the situation illustrated above will come with some verification by default the moment card is involved and years down the line, we will value our privacy more than any other thing and thanks to government, who has been bent on checking all the activities of its citizens, all in the name of keeping them safe.
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These regular unplanned maintenance 4-5hrs long service breaks are becoming really annoying   This is something I will have to point out as well. I have been using live coin for a while and I am enjoying the service provided because I never had any issue as it relates to either deposit or withdrawal. But the issue of concern is this intermittent maintenance that is always happenning every time. I begin to wonder if, that is the way other site are running their services but no. Its ok to do maintenance of site regularly but the timing is too frequent. Just like I love apps on my mobile phone nut I have to update every day, I just unistall it because I am not cut out for time wasting at all. |
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Hey guys, new member here  I've been watching Bitcoin's development since early August this year, and I finally gave in and bought 1 BTC for $4600. I didn't wait because I figured the value could easily break the $5000 barrier at any time, and if the price would suddenly normalize above that level, 1 BTC would be outside my budget. I probably went OCD on the matter and should've waited instead of having to have 1 full BTC, especially since the ICO-related news from China were still pretty recent. Anyway: the 2nd wave of news regarding shutdown of local exchanges hit hours after I made the purchace, and the value plummeted (it's now hovering just above $4000, that's a 13% decrease). Lesson learned I guess. I've been lurking on the forums for a couple of months trying to pick up some sound advice from you guys, and from what I've gathered I should stick with holding for 5-10 years instead of panicking. But honestly, it's tough to ride the lows. Any words of encouragement?  I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good? I must be sincere that it will be a little difficult to tell you to hold on because even me, I was surprised when I saw the thread that I had to go check the current price but was surprised to see the amount of hit that the price has gotten even after showing some form of recovery in the past days to have gone below $4000. At the same time, the reason for the crash will be unconnected to the skepticism surrounding the situation of things. News from China, authorities in the field of finance expressing their views on the negative, among others. But I will only enjoin to no join in the band wagon and just hold tight and deny yourself the stress of checking prices now and then because the recovery might not happen any time soon. At |
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Okay this is crazy and I want to know the community's thoughts on this... Here is a man (Jamie Dimon) who has spent his life at the center of some of the biggest scandals in the history of the world (banking, derivative trading, asset default swaps, etc.)... making claims that Bitcoin is a fraud. He says "It's worse than tulip bulbs. It won't end well. Someone is going to get killed". Is this surprising to anyone at all? The banking industry is MOST threatened by Cryptocurrency and this is only going to intensify as more and more people adopt Bitcoin and other cryptos. I'm alarmed at the arrogance and pure double-standard of these elite bankers. They can all go to hell as far as I'm concerned... Here is the article if you want to read it yourself: https://www.c[Suspicious link removed]m/2017/09/12/jpmorgan-ceo-jamie-dimon-raises-flag-on-trading-revenue-sees-20-percent-fall-for-the-third-quarter.html He might not have the moral standing to say what he is saying based on his antecedents in the industry over the years but he sure does not something to say based on his year of experience in the financial industry and having to get to the peak of his career in a foremost bank. Having said that, it is therefore important to note some facts about his submission which I would summarized as follow: 1. It means the growth of bitcoin has reached to the point where they can no longer deny its existence and for it to have called the attention of a high echelon like him means its no longer a small deal. 2. They are actually scared of their own dominance and sees bitcoin dominance coming to stand as a threat to their own continued reign in the finance industry and the people generally and its better to discourage them now when it can still be influenced. 3. He has real facts even though sentimental, that bitcoin might not end well and he feels the obligation to inform the general populace afterall, he has made his point. But the comment that 'someone will die' removes the fact that he fail to acknowledge the amount of deaths he and his cohorts caused in 2008. |
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Maybe this is a bit phylosophical topic, but the other day I was wondering at which Bitcoin amount it doesn't matter anymore if you're getting more Bitcoin, since you can't exchange it to fiat.
Example:
At the current price of app. 4500 $ per BTC you can exchange to fiat:
100 BTC = 450.000 $ / no problem
1.000 BTC = 4.500.000 $ / a bit of problem
10.000 BTC = 45.000.000 $ / a problem
100.000 BTC = 450.000.000 $ / a big problem
...
See where I'm going? And that's at the current price. I could get even more interesting when the price will be 10.000 $ per Bitcoin or even more.
How do you exchange 45M$? or 450M? So does it make any difference if you hodl 10.000 BTC or 100.000 BTC, since you can't exchange it to fiat anyway without raising suspicion, even if you're very well connected?
What would be the breaking or maybe maximum point of Bitcoin still exhangeable to fiat?
What's your take on that?
I for one would not want to withdraw that amount at once because over here there is a law that is even obvious in the banking hall that any transfer of an higher than the equivalent of $10,000 (which currently is not even up to 3 btc) should be reported to the authorities and there is no way cashing out such amount won't involve the bank. Since I don't have the energy to give explanation after a ban would have been placed on all banks account connected to me and shut out of the resources I own, then its better to avoid trouble all together. |
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I am not sure if your country is having a law requiring all citizens to declare Bitcoin ownership...maybe there is still no such a law yet but what if there is...would you follow that law and be open about your engagement with cryptocurrency or would you choose to just ignore thinking that anyway the government can have a hard time detecting your involvement with it?
In the next few years and as Bitcoin (and cryptocurrency in general) would be more and more popular, there would be more clashes on many pivotal issues regarding laws and regulations focused on Bitcoin. What we are witnessing this year is just an introductory phase on many things to come...so brace yourself and be prepared for the ride of your life.
Welcome to the Bitcoin generation...where all sides are on edges!
If I happen to be in a country like the United States at the time when this law might come into effect, where from news emanating from the web and movies that everything is tracked to from finances up to the point of your private lives then I would willingly submit to such law. However, if its going to happen in this country I am now, I would probably call the law bluff because laws only works here for the first few days its being enacted other than that, its not potent any longer and I am sure the law would be implemented only to make a statement without the forces to eventually effect the provisions of such law. |
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Hi, I have a friend that has got scammed yesterday. He was searching on youtube about Bitcoins and he found a video about a Bitcoin Generator. He trusted it (He is noob at pc and money so he didn't know about scams). He downloaded the program, he launched it and there was "You have to deposite 0.01 btc to [wallet address] to activate the generator". He deposited it  He restarted the program and nothing happened... he lost the money. He want to report this to the police... can he do that? Will the police do anything? Will my friend get back his bitcoins? What happen to your friend is not even scam if you ask me, but its a pure case of being greedy and that what a lot of people have been guilty of thinking there is free money somewhere. The question he should ask himself is that, is it even possible to put fiat somewhere and expect double of it in a matter of minutes? Reporting to the police might even land him in more trouble especially if its the police department that know nothing about bitcoin which is common is several countries in the sense that, you have to explain to their understanding how you come to own the bitcoin that they cant see nor is in your account among other curiosities that will be raised which I am sure he might not have the answers. In all, he has learnt his lessons and its time to count his losses and move on. |
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An average person definition would be a subjective definition due to differences in climes of the society and economic indicators of various countries and because of this singular reason bitcoin will continue to be attainable at all times if not for some set of people in a particular place of the world, it will for others in another place and that is the reason why I wont put a price tag on it.
Some people have said $5000 while others are of the opinion of $4000 as a definition of average. In some countries, you dont have their equivalent in our fiat and you regard yourself as average you have move a step higher above average because the amount could get you a decent house, a car and even some excess remaining. While in other countries, it will just be enough to run the week or a month.
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Anyone can claim to be an expert in anything depending on the years of experience in it but not gambling because when it comes to the definition of an expert, it means not being susceptible to mistakes. Quite a number of people who claim to be experts in one form of gambling or the other that have open up thread on the forum, they most shut it down and failed to update the thread again while the sincere among them ended up in loss making.
In short, other than eating, I dont think I can claim expertise in anything else, my profession, I am still learning, trading activities, I am still learning, gambling activities, even how to post correctly, I am equally still learning and the learning cannot stop.
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Okay so first of all you buy bitcoin through places like coinbase and cex.io and so on, and they usually have a higher price for bitcoin then the market price, so you get screwed there. Then there is a huge fee to actually purchase the bitcoins. Then there is a transfer fee to the exchanges. Then there are trading fees. Then you send it back to coinbase or wherever for fees. Then you try withdrawing to cash out...and there is fees. Then year end you have to do tax, which is the biggest fee.
These "profits" are reduced by like 60% by the time you cash out.
Are people doing something different or am I not understanding this? Because there are WAY too many fees and then you gotta do taxes? Like damn.
What's everyone elses method?
The fees are something one cannot do without because wanting to avoid the fees means you are never going to make the 60% profit in the first place. I want to look at this from the point of view of comparing it with other alternatives where you can keep your funds. Looking at banks, the maximum they would give you on your savings account per annum is say 10% depending on the country though and in this small return, they would charge you withholding tax which is 10% of what they are crediting you with on a monthly basis among other charges for maintaining your account. If you go the way of stock trading via the stock market, since you can do that on your own, you have to employ a stock broker who will charge his own fees, he will pay government tax, he will way the stock market administration some fees and you have to wait quite a number of years for the margin to be high enough to cover those expenses. Now comparing those options to the one you can turn around within days and even better profit, I will go for bitcoin option. |
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Hi, I'm planning to pull my insurance to invest in crypto for long period of time and trade a portion as well. Recently, I was wondering if I let my money sleep in my insurance for 10 years it will triple but I'm also thinking that what if at that time the value of my money is still the same as today because of inflation.
Its obvious you know the decision you want to take but you only need to be more careful with the choice of action as you proceed forward. The issue about the way the system is designed is that no matter the interest they are offering you for keeping money with them, its just the same thing you kept with them with some cents on it if any due inflation that would have been calculated before coming out to tell you the fixed interest rate While they would have made more than double portion of your fund only to keep them richer. |
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Not so long ago we've all whitnessed bitcoin at price 2k usd per btc. Now it is 4k. Sometimes before buying BTC I have a strong feeling that the price will fall pretty soon and I hould wait a bit before buying. Usually it all ends bad. Anyone have the same problem? How are you dealing with it?
Its normal to feel that way and even when you don't buy, you blame yourself and start counting the amount you would have made if you had take such decision. I have been there and that's why I always advocate for the some basic rules in either buying and selling. 1. Buy when you can afford it, if the price falls further, it just strengthen your resolution to hold more in other to make profit and probably made more than what you would have initially made if you had waited. 2. And only sell when you are confident that you can withstand whatever will happen next and be convinced within yourself you took the right decision and if situation should repeat itself, you won't do otherwise. |
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What is called real money is what the people agreed to be real money and what we are regarding as real money today is just a piece of paper that we by default attached value to which then makes it money. If we all agree that we want to discontinue the use of 'real money' to and adopt another form of currency, then that becomes the real money. On whether bitcoin can make real money disappear, so far there is another thing called 'real money' it then means that bitcoin is competing with space with that and overthrowing that will not be possible.
However, the process of achieving the transition is what to be put in place and every other thing becomes easy.
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I know some coworkers that sold BTC today, they are real casuals, they got into BTC because they heard it went up a lot, they don't know even to set a local wallet so they store their coins on Coinbase or wherever the fuck they buy at.
Well, they sold today at at the dip near the $4000 double bottom.
The irony is, these casuals are the ones that are always complaining about how it's unfair that BTC is distributed in the hands of few whales, YET, they are the ones that constantly panicsell and give their cheap BTC back to these same hands they are complaining about, because guess who is profiting the most on these dumps: whales. They buy lots of cheap BTC.
If you want whales to stop having so much BTC, don't panic sell or you will keep feeding them. Just focus on your own portfolio and keep stacking BTC on the dips. In the long term, we will win.
The fundamental truth is that the whales sees it as a game where someone win and another lose and we cannot all win. So, for those who are easily swayed by the current events without fully understanding the direction of events will end up blaming themselves. This is one of the reason why I am discourage to propagate the use of bitcoin because people are ruled by their greed and not knowledge about how bitcoin works but want to enjoy the massive return based on the fact that 'I invest now, how much will it turn to in a month?'. And if their dream didn't come true, they come back and give credence to those who have been on the negative about bitcoin. |
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Its a fact that a lot of milestone have been achieved by bitcoin beyond what anybody could have imagined possible several years ago but here we are despite the challenges. However, being a national currency is still far from being achieved from my point of view not that its impossible, but to make it possible will be an herculean task which is not easy to achieve because of the following.
1. Our individual currency is our pride, our symbol our authority and our identity and to replace that will mean eroding such.
2. Citizens are too attached to national currency in a subjective way and even from my side, its more or less a taboo to either burn money or tear it even though, its a like a piece of paper and taking this away from people wont be anywhere easy.
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