I am not surprised and I am afraid that more "hacks" like this will follow soon, people need to learn from previous mistakes and start realizing before it's too late that keeping their Bitcoins in centralized exchanges and online wallets is very risky. Any predictions on who's next? This is certainly bad news for the cryptocurrency industry and a number of people are likely to lose faith with it. Obviously it is now a trend, big and small exchanges alike. If something drastic is not done about this ugly situation, it might turn around to become the nail that nails the coffin of this awesome discovery. I learnt a big lesson from Cryptsy - an exchange should never be seen as a bank!
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I am interested to join this campaign!
Your Username: Victorycoin Position to Apply: Member Your Current Post Count: 71 Your BTC Address: 3MHh53jHMBffo2hsiwGZqYjG9UL7ZSeoGs
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I am interested in your campaign!
Name: Victorycoin Post count: 68 Rank: Member Bitcoin address: 3MHh53jHMBffo2hsiwGZqYjG9UL7ZSeoGs
Thanks for your time and consideration.
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I see more and more acrticles of bitcoin being used for illegal activities will this hurt bitcoin in the long run , will governments ban this just like they started to do wih paying in cash for some services to harden the use of illegal , and money laundering
there are many bad news in press over terrorists organizations using bitcoin for illegal purposes.. they can make it happen with real money. i think it was made it for giving bitcoin a bad name.. Is it now also possible to procure arms and ammunition using bitcoin or an exchange must take place somewhere? Well at the point of exchange, if the authorities are serious, they can get all the information they need. The truth be told, government's problem with bitcoin goes beyond terrorism and money laundering, actually there's nothing new about that. Their dilemma with bitcoin simply is that bitcoin returned stolen and confiscated power back to the true owners - the people!
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Those at Bitfinex that came up with such ridiculous idea should have their heads examined! Where in life have thieves willing negotiate the run of their largesse? Instead of playing the Ostrich, I think Bitfinex should look up and see that there is no way the compromise would have been possible without an insider, their search light should be beamed on themselves, then they will make headway to the thief.
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1 million to Satoshi, and another 1 million combined for all other stuff. We are looking at 2 million BTC that are never moving. So we will have less than 19 million bitcoins in circulation, probably only half of that is in "public" circulation in the exchanges, the rest are in cold storage or something.
From your calculation, of the about 9.5 million Btc in circulation, any portion of it that are lost, would no doubt inflate the price of bitcoin because of the scarcity that is sure to entail. I think lost of coin ought to be a real cause for worry because bitcoin being a digital money, is so easy to lose and given that it is near impossible to recover lost coins, we may end up walking on tight ropes.
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USA and bitcoin are very different soo dont compare them as makes no sense. If bitcoin wouldnt be spent bitcoin value would be 0, even worthing 600 dollars if you arent doing nothing with them or wont do they are the same has nothing, soo this would kill bitcoin as miners wouldnt be able to profit as they couldnt sell their coins leaving a security problem at bitcoin and the death of it maybe.
No doubt a situation where even 1 btc won't be spent would never arise, because bitcoin is fast becoming an integral part of people's daily activities - so that at any point in time, someone. somewhere is sure to have a need to spend some bitcoin. In the even that so much more people decides to hold their coins, that can only sky rocket the price of bitcoin as is usually the case whenever a valuable asset becomes scares.
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That's only the words of extremist of bitcoins fans and field IMO, I think it's still too early for bitcoin to actually replace fiat or change the financial system. Bitcoin can be a great currency on the online field and for conducting transactions throughout the world.
The argument is that bitcoin would make the bank to disappear literally, because it is a revolution in the way we are going to be seeing and using money going forward. Those banks that chooses to hold on to their "stone age master-piece," well they will be left behind and those innovative ones will be the banks of the future, as simple as that, life is dynamic!
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It is an interesting development to find a school in a developing country for that matter accepting fees in bitcoin. Many more are sure to join sooner than later, because bitcoin and the technology behind it is a revolution in the way we know and use money.
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The only way I am earning bitcoins is from signature campaign and trading as I don't think there is any other better way to earn them as I am not at all interested in going for gambling to generate bitcoins.
Hoping to generate some bitcoin from casinos is like looking for water in the desert. So easy is it for one to die of thirst or on the verge of breathing the last before an Oasis might comes to view. Faucets on the other hand, are much ado about nothing, so ultimately, signature campaigns is the only method for now that gives peace of mind and then the bitcoin in long run.
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For me the luck factor is the most important. I could have made not a single pence if the Ethereum pump did not occured. And that's what I call luck.
That is one great luck for you, only you could not have made all the money you would ever need and you definitely would be needing to trade again and again. Unfortunate ETH don't get pumped everyday, so you are going to have to horn your skills to survive the market or helplessly hand all you have made or even more back to the market.
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Emergence of bitcoin makes international payment easier and cost effective, no other payment system have done it that nice and cheap, lots of barriers have been taken off and there are many more merits of this technology. As can be expected, there are never-do-well, who would rather divert the use for illegal activities, but that's life for us, we all can never for once see the same picture even while looking at the same photo.
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I don't see any differences as you at the end result , as both needs to sell their Bitcoin for a Lamborghini. Or are you trying to refer directly spending bitcoin to buy a Lambo? If that is the case it is still the same but Type 2 is the plausible among the both of them. And oh yeah I am neither of the 2 as I am not a spender, I am an investor.
Likewise, am neither of the two, as he may never buy a new Lamborghini unless the price of bitcoin rises to the level on his calculation to enable him accomplish that. What if the price of bitcoin plummates, so his dream of a Lambo is buried. Well I go with the flow of bitcoin and and I got more bitcoin than I started out with, whenever a need arises, it is met and life goes on.
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it's because even you have predicted all the possibility and calculate which one is more likely to be happened,you still have the chance to miss,future is unpredictable and so does with trading
Well under certain market conditions, it might be possible to predict what the market is about, but because the market is influenced by so many forces, sometimes the predictions miss the mark, but then that's where the advantage for being a skillful trader is needed most, for effective management of trades that went against us or to simply manage losses.
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Bitcoin will always be mineable. In case nobody keeps their interest in mining, I guess Bitcoin will come to an end. Mining is, in my opinion, the fundamental thing that keeps Bitcoin up. Mining requires buying new rigs every X months, which mean new investments. To have a constant profit, you need a higher Bitcoin price as the rigs will keep increasing in costs.
A lot of people thinks that having no miners will not put bitcoin to an end. It's actually the other way around. Bitcoin has been put to an end by 'something' that's why there's no more miners. Miners can always mine blocks, even after the block reward becomes zero. The number of blocks that can be mined is not limited - what is limited is just the number of blocks with rewards.
What will be interesting is how many miners keep their equipment mining BTC at this point and how many switch miners off/ to another coin, and the effect it has on the network, confirmation times etc. I'm not sure I've seen any information on the predicted effect this will have. That's far away from today to be worried about. Just like the old saying, "We'll cross the bridge when we get there." People worry about things that will happen in the future most of the time. But to give you a heads-up, the confirmation time will be slow at that point and then go back to normal in the next difficulty adjustment period. When we're almost at that point, you'd see discussions about that topic in this place more often. Just like people were almost spinning on their heads over millennium bug but it came and the sky did not fall. With bitcoin though, at the point that all bitcoin would have been mined, that would automatically make bitcoin a scares commodity and no one needs any telling, what happens when something valuable becomes scares.
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Absolutely yes i will keep using bitcoins as long as i am able to use it,i just need my laptop and an internet connection to use it and i dont need government permissions to use bitcoins and plus point is this they can not even know weather i am using it or not.
I don't know the government of what country that is even interested in declaring bitcoin illegal, because to the best of my understanding, they are equally enthusiastic about this discovery, only they are concerned that its decisions does not pass through their tables or those of their agents, so the myopic ones sees it as a threat, but it is already to late now, bitcoin is here to stay and the only permission one needs is a pc and an internet connection.
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Bitcoin in the first place was designed to by-pass government and its snoopy agents from meddling into people's finances and already it is a hugh success. The government and those financial houses that have been feeding fat on people's hard earned money are simply fighting lost battle and it matters very little whatever they choose to call bitcoin, we know its other name is freedom.
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Not really. The problem with Bitcoin and poverty is that Bitcoin is (by design) aimed for people that have an established technological system in place. You need some sort of device for Bitcoin to even exist, so in a poverty stricken country, it's not going to work.
I quite agree with the point you raised that bitcoin by design is for an enlightened society, but I think people are digressing from the question posed by the OP which is, "Can Bitcoin help poor countries." The answer is a big Yes, bitcoin and the technology behind it stands a very good chance of bettering the lots of poor countries in many ways and the true picture is not like the people must have to do faucets,signature campaigns,etc but that bitcoin can easily be earned and spent in that society and people enlightened about it. Bitcoin can break the barrier for making international trade, so that even a peasant farmer can export his crops and import machines with ease, by passing chains of bureaucratic bottlenecks. Secondly, if the authorities collects their revenue through bitcoin, it would save so much cost, which in turn could be invested in infrastructure to improve the standard of living of the people.
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Yes when u say stealing then yes its illegal.And bitcoin is a currency its also a money so stealing it surely illegal but what you are talking about is don’t think gonna happen.The chance to that happen is very very less.
Bitcoin is money but not a legal money so that is not illegal, I hope you know guys what are the difference of not right and illegal. Maybe it is not right to steal but you cannot say that it is illegal because bitcoin is an independent currency and the government does not recognize it. If the authorities indeed does not recognize bitcoin and cryptocurrencies in general as you say, those dealing with them would not have been walking the streets free. Fact is the authorities are still fine tuning their position on this new technology and that doesn't make it illegal like you would say for things like hard drugs. At any rate, taking whatsoever that does not belong to you, even if it be garbage, without the permission of the owner is stealing no matter what color you chose to paint it. Bottomline is to do to others, what you want others to do to you.
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I'm sure the donator ranking was created when Bitcoin was worth a lot less than it is now. 10 Bitcoins is a lot. I wish I had enough to donate.
I think that must have been when 10 bitcoin was no big deal, because at the rate it is now, I don't see any member willingly parting with that much. I think a review is highly necessary to reflect the present state of things. Would be good to know if any member have actually made this donation till this moment.
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