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281  Economy / Economics / Re: Can the US win the currency war? on: August 03, 2015, 07:57:35 PM
The U.S. came to power because it took advantage of the destruction left in Europe by WWII.  I predict that with WWIII the U.S. (while it may not suffer actual 'defeat') will lose it's global dominance to Asia due to the massive amount of debt it's citizens would get stuck with after the war.

My prediction is slightly different. After the Pinocchibitch becomes the POTUS in 2016, the United States will declare war against Iran (she has already promised that to the Jewish electorate). The Iraq invasion cost the Americans some $2 trillion. So my assumption is that the Iranian invasion will cost them some $20 trillion. This will destroy the American economy.

I would not put it past the POTUS to do that, they have already done a similar thing to Gadaffi in Libya when he stopped his nuclear development programme then destroyed the country, that helped to create ISIS/ISIL because taking one moderate dictator out of power their led to even more radical powers emerging.
I'm just hoping they do not try to do another Libya and destabalize Iran that will create a lot of collateral damange in the middle east that will spread over to the West.
282  Economy / Economics / Re: Is the world economy dependent on the American economy? on: August 03, 2015, 07:53:23 PM
Is the world economy dependent on the American economy?

No, but the world economy is forced to look at the American economy a lot more than other world economies because of the way news is dissemated and who controls the media.
That said the US is an influential economy that can seriously impact global policy and to an extent all countries are interdependant so it does have a signifcant role to play in it.
But the rest of the worlds economies are not entriely economically dependant on the US, but some countries are more than others depending on their own trade relationships.
283  Economy / Economics / Re: Why not just print dollars? on: August 03, 2015, 07:51:25 PM
...

mookid

I see "SOS Venezuela" written on cars sometimes here (USA).

Chavez & Maduro have shown how to destroy a country with HUGE oil reserves.

Those huge oil reserves can potentially help you if you can sell oil with a high enough premium. Do you think Saudies will be happy if oil falls to 30$ per barrel (even if the cost of oil production in SA is around 10$)?

It would depend on what their budget is and how much they spend of it.
But given their giant soverign wealth funds they would be happy to keep it at that price because it would cause some small companies to fold and it takes time for that capacity to go back online.
(Choking out the competitors, seeking low cost buying opportunities in the market (China) etc.)
284  Economy / Economics / Re: Falling Australian Dollar is very Suspect on: August 03, 2015, 07:48:59 PM
The Aussie dollar is one I tend to rarely keep track of because it runs a similar correlation curve to the Canadian dollar due to the strength of its commodities sector so it acts more like an indicator to me.
Canada is wheat oil and gas while Aussies are Iron and coal primarily, with other natural resources like Uranium gold copper etc taking the spotlight now and then, that said since both exchange rates being low implies that demand for natural resources is low, even if prices for goods in the relative countries are increasing because of a weak exchange rate.
To be expected when the BRICS aren't in an intensive resource demanding period as developed countries don't tend to need as much as developing ones to build infrastructure roads etc.
285  Economy / Economics / Re: Mobile Payments: Moving Towards a Trillion Dollar Industry on: August 03, 2015, 07:42:45 PM
Maybe you will say that i am an old fashion guy but i wouldn't trust all my money to my phone or any other type of payment which involves electricity(cards). What if you don't have battery on your mobile and do not carry any money on you, what if the ATM doesn't have any money, what if there is no electricity and you have only your mobile to pay with. Maybe i will change my opinion in the future but for now i wouldn't pay with my phone Smiley

It usually means that you just need to access a charging station which are becoming commonplace in malls nowadays to top up the phone, that said it will likely not be exclusive their is room for cards and mobiles to work together, small change in the mobile and cards for bigger purchases.
286  Bitcoin / Bitcoin Discussion / Re: Beware of CoinBase on: August 03, 2015, 07:30:53 PM
If I wanted regulated crap service I would use Pay-Pal. I don't. so coinbase of off the menu

That's basically where I stand in regards to coinbase
It's a pain doing business in the USA and as of August 8 even worse in New York when the Bitlicense takes effect.
287  Bitcoin / Mining speculation / Re: People are still buying 333 MH/s Block Erupters on: July 17, 2015, 05:20:33 AM
Well with collectables its only as valuable as the number of copies there are in the market
So if someone goes and loses/destroys a bunch their value increases as well.
288  Other / Off-topic / Re: Investors preidct Virtual reality porn market to boom on: July 17, 2015, 04:22:12 AM
There goes the birthrate.

It will likely be similar to the model seen in Japan declining birthrate but increased happiness
It also provides competition to a good women apparently but I may have been watching to many Vice videos lately Smiley
That said it will open up a few new legal cases considering artistic intergrity that will bring about interesting court cases in a sense think Australia and its banning of women with small breasts and UK's porn bill as another where there may be legal tests.

As a matter of interest Bitcoin would likely be in a good position to be adopted in the Virtual Reality at least in my opinion especially combined with Occulus rift.
289  Bitcoin / Bitcoin Discussion / Re: Bitcoin transaction Times SUCK on: July 17, 2015, 04:03:41 AM
https://bitcointalk.org/index.php?topic=1125214

The fees will increase until legitimate traffic is less than half the block size.

Anyone paying less fees will see transaction times that SUCK as you say.  

This is because someone is executing a Golden Ratio Attack.  They are making a profit on the so-called "Stress Test" and will continue it forever.  I have no idea how to stop it. This is serious.

It seems that the OP (yourself) has edited the thread title, I was a bit interested in how the Golden Ratio Attack was executed and from what I can surmise it is a mining ROI through higher transaction fees reading through the comments in the other thread, in a sense that would work as Satoshi did plan on transaction fees at some point in time transitioning and replacing the reward for discovering blocks accelrating that process involves an increase in mining fees but in addition to the stable block rewards pools would have an incentive to keep the fees high, the issue would not be a concern usually but in the case of space limitations it does present a possible problem and issue.

Not a bad idea in any sense as it could have happened when Ghash.io was near 50% but it looks like Gmaxwell came in and did some math but the concept looks like it has feet in my opinion.
Especially if a consortium of pools decided to group together to perform and execute this attack at cost to maintain a new quo in which case the honest miners would still make more but through block discovery on average the attackers would discover the transactions and reward themselves in the long run.

_
Lets imagine your mine with half hashpower. Lets imagine that a block can contain 6000 transactions.  Attacker has 1/2 hashpower.  Offered load is 4000 tx/block.

Attacker crafts 2000/tx block at 1coin/tx fee level. Making the rest match him (plus episilon, which we'll disregard).

His average cost for spam is 1000 coin/block (2000 * 1-rate).
His average income is 2000 coin/block (4000 * rate).  (He doesn't get income from his spam, he saves its cost however; see prior line)
His net income is 1000 coins/block, on average.

Now consider the consolidation of other miners:
Their average cost for spam is 0.
Their average income is 3000 coin/block (6000 * (1-rate)).
Their net income is 3000 coin/block.

Both groups have 50% hashrate, so the non-attacking miner has a fee income of three times greater the attacking miner per unit hashrate!

Normalized for hashrate thats 2000 vs 6000.
290  Economy / Gambling / Re: ➫ ➬ ➫ ➬ LUCKYB.IT ★ +1.5M bets ★ +73k BTC wagered on: July 17, 2015, 03:35:31 AM
We're back! Sorry everyone for the long downtime.


Maybe some little glitches to expect, but we hope to be back for good. Smiley

More info will come soon when we get a bit of time to cool down.

For now, please note that the minimum fee if you want a chance that your transaction is processed immediately has been increased to 0.0002 BTC.


Welcome back you were missed and hopefully the glitches will become a thing of the past.
At least for now
And let the lucky bits fall down
291  Economy / Speculation / Re: Bottom is in at $215 buying like crazy on: July 17, 2015, 03:32:11 AM
14 april was one of the last chances to buy that cheap. Great call, OP still actual.
Sitting at $280 dollars was a pinch in April but with sentiment and momentum its may be in the opposite polarity
Where there is a stabilizaton and support being built at this range and trying to consolidate.
Profit taking is to be had but at the same time I can see the market moving upwards for now we will need to look at what will happen although in my opinion this is an ok buy range (Pinch range) with some downside return where 215 was the current low and some good upside potential to the 420 support levels.
292  Alternate cryptocurrencies / Altcoin Discussion / Re: Litecoin is officially dead on: July 15, 2015, 08:54:43 AM

6. Price goes nowhere for halving, maybe even drops, everyone sells thinking its dead, price drops back to $2 and then boom, shoots to $40 after large players shook everyone out of the cheap coins. Wink

in will go maybe over 10$ but more, this big change was happen cuz chinese pump a little or am I wrong.


It just goes to show that the Chinese when they feel like pumping can have a strong effect on the market
I guess they got bored of leveraging in the stock market and went to Litecoin before crashing it a bit.
293  Economy / Economics / Re: If Greece defaults on: July 13, 2015, 09:20:45 AM
It seems that for now Greece has made an agreement with the European union
Where it goes from there remains to be seen
http://www.itv.com/news/story/2015-07-13/eurozone-leaders-reach-agreement-on-greece-debt-deal/

French President Francois Hollande has said "Europe has won" as a debt deal was struck with Greece.

He said that to have lost Greece as a member would have been to lose "the heart of our civilisation" and called on the Greek parliament to convene within hours to adopt the new package of austerity measures.

Greek banks are expected to remain closed for a few more days while details of the package are finalised.
294  Bitcoin / Press / Re: The First 2-Way Bitcoin ATM Installed in Greece on: July 12, 2015, 06:00:17 AM
This post needs proper formatting to fit into the news section, please include a date in the right format.

My apologies the title has been edited
Thanks for pointing it out
295  Bitcoin / Mining speculation / Re: June 28th to July 12th Difficulty thread. Picks are closed!! on: July 12, 2015, 05:40:06 AM
This one is not that bad, 3-4%.

The next one is going to be interesting. If the exchange rate stays where it is we could be looking at 5%+ in two weeks.

Quite, it will be fun to see how the difficulty changes in the next round.
Good round looking forward to the next thread Smiley
296  Economy / Exchanges / Re: Which Bitcoin Exchange do you use and why ? on: July 12, 2015, 05:36:06 AM
I use coinbase to me it feels like they are less likely to cut and run like mtgox.

I still use cavirtex was considering moving to a new exchange but it is running smoothly again after its takeover unlike other services.
297  Economy / Games and rounds / Re: 0.05 to first 100 posters on: July 11, 2015, 08:22:54 AM
Why not: 12Ui3ssnJK71akxAgvVM3WtLa2EHidT3Xn
Thanks in advance and congrats on your winnings
298  Bitcoin / Bitcoin Discussion / Re: Bitcoin transaction Times SUCK on: July 11, 2015, 08:20:42 AM
In my experience it takes around 10-15 minutes for a conformation. How much are you sending and how much are you spending in transaction fees?

Brother I send payments all day long anywhere from .5 BTC up to 3 BTC at a time, always use 10,000 satoshi for transaction fees. I have not had a 10 to 15 minute transaction in over a year, 20 minutes is the fastest I have seen in a year. average of 35 minutes longest 2 hours and 25 minutes.

That's strange can you provide a set of tx ids
My transactions tend to be in the standard 10-30 minute range of blocks even with fees usually I haven't sent recently seeing as its being tested but since you mentioned over a year I find that suprising.
That said I can understand your irritation seeing how time sensitive transactions are a pain like Bitpay with its timer...
299  Bitcoin / Press / [2015-07-10] The First 2-Way Bitcoin ATM Installed in Greece on: July 11, 2015, 08:15:47 AM
The first 2-way bitcoin ATM in Greece will be inaugurated in downtown Athens on Saturday at The Cube.

The Cube coworking space, or the Athens Startup Ecosystem as it is entitled, is a building housing several startups, providing space, computers, internet, secretarial and all-around support. It is the brain child of Stavros Messinis and it is run by himself and his wife Maria Kalafatis.

http://greece.greekreporter.com/2015/07/10/the-first-2-way-bitcoin-atm-installed-in-greece/
300  Bitcoin / Press / Re: [2015-07-10]DMT - Are Bitcoin Payments Coming to Uber Or Not? on: July 11, 2015, 08:12:53 AM
http://digitalmoneytimes.com/crypto-news/are-bitcoin-payments-coming-to-uber-or-not/

The decentralization revolution is upon us, and multiple services are embracing the ideology of cutting out the middleman.  Some of these services are more popular than others, such as AirBnB & Uber.  And the latter company is currently working on implementing a Bitcoin payment option, according a post on Reddit.

Not yet is the right answer as Litecoinguy mentioned as it could happen at some point in the future.
Likely once they get all their legal cases settled out in the court regarding what their service is classified as.
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