Bitcoin with it's high fees and slow transaction times is hardly suitable for payments – spending the same fee whether you buy a coffee or send $100,000 is a joke and the promise of scaling solutions such as the Lightning Network hasn’t been fulfilled.[1]
While there's no shortage of old and new believers to keep the party going, along with plenty of developers working to create better, forked versions of bitcoin, I’m betting my chips on a more flexible alternative.
The door is wide open for blockchains that use smart contracts, like ethereum,[2] bitcoincash, litecoin and more...... 2018 Will Be ....... Year’s? [Writer choose ethereum, what will be your choice?and why?]
Source: [1] [2] No one still knows but I have a good feeling that it will be more expensive and successful this year. Although the value is a bit low right now, you can't still say that it will be stable at a low price just like what happened last year. The value of bitcoin fell down hard but after recovering, the value pumped up over the roof. Let us be optimistic with what may happen in the future and have faith in bitcoin. |
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Proponents of Bitcoin claim that Bitcoin is a decentralized system. And because it is decentralized, nobody can control it - not you, not me, not the central banks, not the Federal Reserves, not anybody. Bitcoin nodes are distributed extensively and not kept in a centralized system (for instance, in one server) which can be susceptible to hacking or take over. While the inherent system is designed to operate in a decentralized manner, external factors are making Bitcoin less decentralized. Why? Because Bitcoin transaction requires miners to validate and update transactions on the Bitcoin network. To do that, miners need hashpower. The greater the hashpower, the greater control the miner or group of miners have on the system. Currently, Chinese miners control more than 70% of the total Bitcoin mining hashpower in the world, making China the undisputed world leader in Bitcoin mining. Talk about decentralization. According to blockchain.info, 4 (19%) of the total of 21 mining pools control more than 50% of the hashing power, while the rest of the 81% are left with 47% of the remaining hashpower. Doesn't sound so decentralized, does it?
Moreover, Bitcoin developers are controlled largely by Bitcoin Core group that is being run by people hired by Blockstream, a private company. So now, you have bitcoin mining controlled by a small handful of miners and the developers controlled by a group of people belonging to a single private entity. Some argue that this is exactly what makes Bitcoin decentralized because none of them can gain control over it. Really? Because from the outside, it looks more like a company being run by two hard-headed CEOs who are only looking out for their own self-interest. When two CEOs clashes against one another, is that what they refer to as decentralized?
So while Bitcoin's inherent system is decentralized, the governing factors (hashpower dominance by Chinese miners and software development by a small group of developers) makes it less so.
The system of bitcoin is quite complicated and complex. There are only few sets of people who knows how bitcoin really goes and I think that's the reason why we cannot conclude that it is a decentralized currency completely. No one can fully gain control on bitcoin that's why it is decentralized somehow but that doesn't matter that much as long as we are doing our job on it. |
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Just yesterday I come across one youtuber where he says
he just wake up and saw his 50 btc was vanish from his exodus wallet and also before that another 20 btc was vanish
he says he dont even know how this happen.
pls how can I escape this.
Just be careful on what kind of wallet you are going to store your bitcoin on and be sure that it is credible enough on taking care of my money. In my case, I only have one wallet that I fully trust here and that is coins.ph. I know that it is trusted and many people are using it here in our country. I haven' experienced being hacked on it yet and I know I will never have one. |
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Please forgive my cynicism.
I was offered bitcoins in I think 2010 when they were 50p each.
I was tempted to buy £200 worth but had been just lost £200 to a ponzi money scheme so decided against it!
I have seem recent reports saying they are now worth £2,500
Are these the same Bitcoins?
So would I be able to actually sell for cash or money in the bank?
Sorry to ask, but I see lots of people saying they are millionaires but don't think I have seen anyone with the actual money banked.
I mean, my 400 bitcoins would now be worth £1,000,000 and I could actually sell them for £1Million less commissions?
You gotta see I'm sceptical.
Please tell me I haven't made the biggest mistake of my life?
We all have different regrets here in bitcoin. I a very regretful that I didn't try investing on it way back when the value was still very low. I never believed that bitcoin would be this successful that's why I never thought of trying it. Regrets are done and all of it has passed away. The best thing we can do right now is to do our part and give all of our time and effort to earn bitcoin. |
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What is bitcoin for you? Is it a chance or a scheme to get rich? Or is it actually to keep your wealth to yourself.
What lead you into bitcoin world and what's keeping you here?
Bitcoin for me is not just a simple cryptocurrency instead it is the best ever made. I think it has all the potential on becoming the world currency somewhere in the future. It is a chance for me that I was so honored to have and I am still hoping that I would get higher amount of profit soon. What led me here is the chance on becoming rich and becoming successful. |
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If you had to convert all your wealth to either Bitcoin or gold and keep it there for 10 years, which would you choose? Keep in mind the fact that Bitcoin has only been around for 5 years, and could be fundamentally different in any number of ways in 10 years.
I don't have any idea about gold and I think bitcoin is way more better than it. There maybe some differences between the two but based on my experience, I have earned a lot already from bitcoin and I am very proud to say that I am a bitcoin user. If ever I'll have a gold, I think I would sell it right away but not like in bitcoin, I would rather wait for a bit then I'll sell it. |
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This is so really hard to say special cause its difficult to explain specialty in short word
Some of them are given below:
It’s a type of currency which know as peer to peer currency and this permit to send and receive money without help of broker or third party involvement
Every bitcoin holder can review their account information after sending money or receiving money from their account.
After all kind of transection bitcoin recorded sufficient proof of every client and account holder through different facilities.
Buying and selling process is so much easier than other currency
I think above mention quotation is sufficient for proving that how much special the bitcoin is.
We all know what bitcoin endured just to make it up here. Bitcoin has been the most popular cryptocurrency of today and the main reason is because the value of it is very expensive. It is also the very first cryptocurrency ever made that became successful up until now. Amidst all the obstacles it has faced, bitcoin was able to surpass all of it and stay on top. |
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The sharing economy is just going to continue to grow, and governments will be challenged to understand and manage its implications while embracing its benefits. However, governments will be at a significant disadvantage if they wait too long and newer technologies and markets will have already been developed that do not follow traditional models. Think of the following: Uber is the world’s largest taxi service and owns no cars. Airbnb provides lodging yet does not own real estate.
How will local governments adapt to these new ways of doing business that are disrupting traditional business models? All we know now is that governments are a long way from even contemplating and accepting this new reality.
I think the time is very near wherein bitcoin and governments from different countries in the world would collaborate to make up a more efficient way of living for everyone. Local governments can start entertaining bitcoin by accepting as a paymeny for some transactions or in buying some stufds. It may not be a good idea that the two would unite but it still has a lot of advantage. |
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Dear audience I have 0.05 BTC should I hold it for future value ? In recent time the market is very dumping so that feeling little scared.
The amount is not very necessary I can hold it if the market will raise
Keep on earning and hold it for a long time. Trust bitcoin and trust its volatility. People before were all surprised and happy about the sudden pump that occured last year and it could still happen again as long as you are doing your part on it. Bitcoin has granted many blessings to everyone wayback and if you have faith in bitcoin, there's nothing impossible that it would happen to you too. |
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If you be given a gift of 1BTC by someone and for you this amount is already something you did not expect. Will you sell your bitcoin right away and convert it into cash or just keep it for a better price to come or invest it or what?
I don't think it would be a big deal if I have a lot of bitcoin. Bitcoin is a blessing and I want it to share to anyone somehow. If ever someone would lend me 1 bitcoin, I would sell it right away and I won't care that much anymore about the price. I would really be grateful because recieving bitcoin is too much for me knowing that earning it is not an easy thing so I would do anything to return the favor. |
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Yes, got you intrigued, didn't it?
Bitcoin is a very good thing to have as an asset. Just like gold. Even better if I may say. It's secure, and unlike fiat money it actually exists and work is put into it to produce it. This makes it great to store value.
However, it cannot and will not replace current fiat money that the entire world it using. It just cannot.
Take paying a cup of coffee for example. To pay your coffee with bitcoins, one must get bitcoins first, either by mining or buying bitcoins with other kinds of money (*cough*fiat*cough). It ends up being a quite complicated process, don't you think?
Until we reach the point where paying for a cup of coffee is as easy with Bitcoin as it is with cash, we will never get mass adoption. And as far as I see it, there is no way of simplifying the acquiring of bitcoins.
Bitcoin has grown a lot over the past few years and it carried its reputation up until now. Although bitcoin is said to replace the fiat and will become the world currency, the assurance is still not that big yet. We should still take consideration that fiat still is the most used curreny in the world. Bitcoin is being converted into fiat and I think it would go on like that for a long time still. |
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Bitcoin brings us all Freedom edited: https://bitcoin.org/bitcoin.pdf - by Satoshi Nakamoto - The Bitcoin White Paper https://bitcoin.org/ - Bitcoin.org - #1 Non Profit Home page for Bitcoin A beginner's guide to bitcoin http://www.coindesk.com/information/ Bitcoin is Freedom --------------------- Bitcoin is Freedom from oppression, exploitation & tyranny by Banksters. From cradle to grave we have all been financial debt slaves through the debt based fiat currency schemes that should have long ago been outlawed. Bitcoin offers People an avenue of Safe Haven that assures a fiscally disciplined currency. Bitcoin is vastly superior to traditional fiat currency schemes. Bitcoin brings all Peoples Freedom by forcing Decentralized Monetary Competition, and by doing that it will eventually force governments to become fiscally disciplined with their monetary matters, or suffer monetary failures repeatedly until they do. Bitcoin will ultimately free governments from their Bankster Masters (each countries Central Bank) when governments finally re-learn to print and issue their own debt-free currencies, while abolishing their existing Central Banks powers and controls over them. This will hopefully occur as the present system fails and governments finally realize they hold all the cards, not the Banksters. So simply put: Bitcoin is Freedom ---------------------  Bitcoin did not just simply set us free from poverty instead it also saved us from oppression wherein the government officials are setting limits on what we can do and what we can't. We've all witnessed how bitcoin grew this year and the growth it experienced gave us a lot of benefits also. We should be thankful for bitcoin for helping us on getting freedom from everything that hinders our happiness. |
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Just received reminder bitcoin dropped a lot, the price of the last week is very unstable, leading to other competing currencies continued to fall, there is no bottom line of that kind of fall, I would like to ask you tycoons on how to look at the future market?
We all know how bitcoin works, the value of it is always changing and it is natural to see such things. Bitcoin has a volatile value and it is also one of the main reason why many investors are running over it. You should not be surprise anymore about this because there are a lot of things happening in the market always. Just be careful and aware on what's happening so you may know if it's a good time to invest. |
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Like every other investment such as real estate, stocks and other forms of investment we know that you can invest in that kind of things and then you get something like say a Certificate or a Binding Document as a proof that you are part of that investment, now that of bitcoin all you have is just your address, your password, key and seeds as proof of the ownership of the wallet. BTCSo now if one is considering buying bitcoins and saving for his/her children in the future is there any way to do that with bitcoins apart from having to write down your details somewhere. I'm asking because with that kind of stuff if no one knows your seeds or password no one can get the coins.  I think it would really be a nice thing if this matter would be handled by anyone with authority. We are all clueless on when are we gonna die and we don't want our money to go nonsense wherein nobody can use it even our relatives. If ever I would die, I want all my bitcoin to go to my family, I hope some few things would be made up for the convenience of the assurance so that it would go to them if ever. |
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I’m newbie here... What’s the best way to earn Bitcoin? I need assistance please. Thank you.
Bounties, trading and gambling are the ways to earn that I know here in bitcoin. I consider joining signature campaigns as the best thing to do here. Investing on signature campaigns has given me a lot of benefit already and I think things would keep on getting better for me because of bitcoin. I am already comfortable with signature campaigns but you are still free to choose which way you'll use. |
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Steam dropped bitcoin support citing "high volatility" as a motive. When amazon stock jumped from $18 to $1,200 over a period of years, was this high volatility a bad thing? If bitcoin's value increases from $6,000 to $16,000 over a period of months, and HODL'ers benefit, this high volatility is bad? Where does the idea of high volatility being an unnecessary evil come from? Are there good arguments or evidence which support the concept of high volatility being a negative circumstance? In a sense, volatility simply means the price of something moves a lot, its not that bad if the vast majority of motion is in an upward direction? I don't think so, I consider it as a great thing because it enables us to have higher profits whenever pumps are occuring. This plays a vital role somehow on making bitcoin more popular and more attractive to investors. If ever the volatility will be removed, I don't think bitcoin will still be patronized by most of the investors that's why we should not consider it as a bad thing. |
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Many of us here are hoping to be successful miners/campaigners or anything realated to BTCitcoin. Some people succeed many people failed. With that said, what are the biggest changes in your life since you started bitcoin? I hope these will inspire other people so that we too can be successful. Thank you very much!
Just like what everybody is saying, bitcoin has been a blessing in disguise to my life. I was able to provide for my daily needs and I was also able to buy all the things I want. I really love bitcoin and I don't think I would end up like this if it wasn't for bitcoin. I don't think I will still be able to live without it anymore. I can't afford to loose bitcoin in my life anymore. |
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Hey all, I’m conducting a research on cryptocurrencies and I’m especially interested in why people choose Bitcoin. And since you are bitcoin users/experts, I thought you would be the best people to ask. It would be great if you could take the time to answer my questions (anonymously), I promise it will take no more than 10 minutes. Click on the following link to go to the survey - https://uvacommscience.eu.qualtrics.com/jfe/form/SV_3lzs2sI13cKH1m5?source=bitcointalkIf you are interested, I could post my main findings here. Thank you. I chose bitcoin simply because the value of it is very expensive and there are a lot of people already saying that the investments here are great. I tried and figured it out which led me to the conclusion that bitcoin indeed is one of the best thing that has ever happened to my life. Bitcoin has a lot of great features and it all helped it become more popular these days. |
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Hi guys! Can you share some tried and tested tricks on making the most out of your buck and also some tips on how to save money more effectively. This will be a heck of a help to our fellow users here. Thank you so much.
Make a list. Make sure to buy only the things that you really need. Avoid getting into temptation on buying expensive things that would not give you any long term benefits. Always think about it first before buying something or spending your bitcoin. Keep in your mind that earning bitcoin was never an easy thing. Be sure to make yourself disciplined enough to prevent spending much. |
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Some people like the Brazil Central Bank Chief called Bitcoin a Bubble & Pyramid Scheme, how can the bitcoin industry prove this wrong and make sure bitcoin never ends but grows bigger?
The demand of bitcoin in different part of the worlds are one of the main reason why bitcoin keeps on growing day by day. We all know that bitcoin can possibly end anytime but we don't want that to happen. In order for us to have a contribution so that bitcoin will not end, we should keep on supporting it and keep on using it for investments not for some illegal activities. |
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