^ Is Coinbase as ill-informed as I am? Why don't they forgo waiting for confirms  Did you at least do your reading? 6 confirms is no guarantee. <snip> You can ignore this again if you want, but I'll just leave it here because it states how long IRL Bitcoin transactions take. This text is taken from the Dell website. Dell is a merchant "accepting Bitcoin." Can you think of a better example? I won't even dwell on the fact that Dell actually accepts cash--it's Dell's payment processor, Coinbase, that accepts Bitcoin. One final word: Keep your eyes peeled for the the emboldened, red text--it might be something relevant! Here we go now: Regarding paying with Bitcoin, merchant adoption etc., etc, let's look at reality. Dell is the hobbyhorse that often gets trotted out when merchant adoption is brought up. Let's check what actually happens & how instantaneous it is: ... Transactions verified by Bitcoin network. Once a Bitcoin transaction is submitted to the Bitcoin network, it may take an hour or longer for the Bitcoin network to fully verify the transaction. A transaction is not complete until it is fully verified. Dell has no control over this timeframe imposed by the Bitcoin network. Taken from http://www.dell.com/learn/us/en/uscorp1/campaigns/bitcoin-terms-and-conditionsJust in case you missed it, here it is again: " it may take an hour or longer for the Bitcoin network to fully verify the transaction. A transaction is not complete until it is fully verified." Both Dell and Coinbase could benefit greatly from your expertise, and it is your civic duty to call them without delay! Whatever you do, don't let some dumb secretary hanging up dissuade you from completing your quest! Let them laugh, sgbett, but dial again and again! Godspeed! |
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^  |
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Some time ago, I've had a flashback to 2011. The next and final stage of the bear market began when difficulty began to decrease.
Oh, Blitz... Thought this sort of thing was beneath you  |
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^ Wait a few months & we'll see about it being worth billions. Used to be worth more than three times what it is today, markets take time  |
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Just this morning 360 seemed like unbreakable support. Now its resistance  |
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... Yes, the merchants I have purchased from have used a processor (BitPay in fact, is what I remember). Which is why, as I said, the transaction for me, the consumer, was instantaneous. It was an online transaction, so the moment it went through I was free to go on with my day.
If you used a payment processor, you did not buy with Bitcoin. What you did was find the most convoluted way of buying with fiat, something Rube Goldberg would be proud of. It goes something like this: Buy BTC with fiat, possibly pay fee. Send BTC to the payment provider, who will convert it to fiat & pay the merchant. Such convenient. Wow. Actually, it was very convenient. And in fact I did pay with bitcoins - that I mined. If the merchant chooses to keep those as bitcoins, then in fact there is zero fiat involved. Forgive me. I forgot some of the steps in your Goldbergian scheme. Allow me to rectify: Buy mining gear with fiat Buy electricity with fiat Waste time mining Bitcoin you could have bought for significantly less fiat. Send BTC to the payment provider, who will convert it to fiat & pay the merchant. There. I think we're good now. Contrary to what your salary failing to keep up with inflation (for 6 years!) would suggest, you're a smart & capable guy who clearly don't need no help from me or no grownup. You'll do just fine all by yourself. ~Happy Investing! |
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^ Is Coinbase as ill-informed as I am? Why don't they forgo waiting for confirms Did you at least do your reading? |
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360 support on stamp gone  Is there a price at which you will consider buying back in? Based on price alone probably no. Things could happen tho. |
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360 support on stamp gone |
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BTC is not worthless, it is worth 370$ and hopefully more in the future.
Correction: 360 @ Huobi |
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 What a wonderful Christmas present... a digital currency for nerds that has been steadily declining in value for over a year. Once the person you give it to stops laughing, and realizes you're serious, they'll politely thank you, before throwing it in the trash while you're not looking. No way! Money that can't be spent is the most romantic present evar! Besides, he can just tell her he got her 10 BTC without actually doing it, she won't know the difference. Just tell her "It's all very scientific and complicated, I'll take care of it honey. Why don't you go make me a sammich?" |
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^There's no devil here.
ASIC manufacturers set ASIC prices.
Miners buy those ASICs & mine with them, increasing the hashrate.
The hashrate [and, thus, difficulty] grows to the point where the coins mined are worth less than the price of hosting [electricity etc.] to mine the coins.
It is the cost of mining that drives difficulty, not the other way around.
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Ouch, Gentlemen. That price.  |
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Here: Regarding paying with Bitcoin, merchant adoption etc., etc, let's look at reality.
Dell is the hobbyhorse that often gets trotted out when merchant adoption is brought up. Let's check what actually happens & how instantaneous it is:
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Transactions verified by Bitcoin network.
Once a Bitcoin transaction is submitted to the Bitcoin network, it may take an hour or longer for the Bitcoin network to fully verify the transaction. A transaction is not complete until it is fully verified. Dell has no control over this timeframe imposed by the Bitcoin network. Taken from http://www.dell.com/learn/us/en/uscorp1/campaigns/bitcoin-terms-and-conditionsDon't see anything about 6 confirmations on Coinkite Point of Sale, neither: https://coinkite.com/faq/terminalHow does this work out with confirmations, would the consumer have to wait 10 minutes?
We can immediately confirm amounts from customers that are using Coinkite's accounts, and in other cases, we offer the choice to the retailer as to how many confirmations they require. We feel that if you are transacting small amounts, then accepting zero confirmations (for instant payment) may be a reasonable risk. ... Do you understand what you just posted? Transactions with Coinkite's CC are instantaneous, and the retailer is free to take any risk it wants when payments are made directly with BTC. In other words, when you sell me something, you are free to not wait for any confirms, or even take my word that I'll send the BTC later--no skin off Coinkite's nose |
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You are obviously new to the fact you don't *need* six confirms.
You do if you don't want to get screwed. If Coinbase wants six, so do I Edit: Regarding paying with Bitcoin, merchant adoption etc., etc, let's look at reality.
Dell is the hobbyhorse that often gets trotted out when merchant adoption is brought up. Let's check what actually happens & how instantaneous it is:
...
Transactions verified by Bitcoin network.
Once a Bitcoin transaction is submitted to the Bitcoin network, it may take an hour or longer for the Bitcoin network to fully verify the transaction. A transaction is not complete until it is fully verified. Dell has no control over this timeframe imposed by the Bitcoin network. Taken from http://www.dell.com/learn/us/en/uscorp1/campaigns/bitcoin-terms-and-conditionsThe cost to the consumer is only one half of 'cheap'.
If you're going to reply to a post, have the decency to read through the thread to check if the issue was previously addressed. It has, and though the bleeding heart liberal in me insist that I cater to the least of men, the pragmatist in me insists that I not bother. If you still have questions after reading the thread several times, I'll apologise to my pragmatic half & explain shit to you.  |
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... Yes, the merchants I have purchased from have used a processor (BitPay in fact, is what I remember). Which is why, as I said, the transaction for me, the consumer, was instantaneous. It was an online transaction, so the moment it went through I was free to go on with my day.
If you used a payment processor, you did not buy with Bitcoin. What you did was find the most convoluted way of buying with fiat, something Rube Goldberg would be proud of. It goes something like this: Buy BTC with fiat, possibly pay fee. Send BTC to the payment provider, who will convert it to fiat & pay the merchant. Such convenient. Wow. Since you went all-caps on the word "MANY," I feel I should address this first: Did you know that there are MANY companies, both large and small, that do not accept BTC?
Well, now you know.
Yes I am well aware. The number that do is increasing every day. This is just one example of it following the same trend that websites did. <snip the BTC is like interwebs bull> Regardless of what you believe will happen in the future, we're not talking about one of the possible ways for the probability wave to collapse. We're talking now. Now the number of merchants accepting BTC is nowhere near those accepting CC. ...I don't believe inflation is required, however, since not all salaries go up to match inflation. In fact, mine has not kept up with inflation for at least the past 6 years.
No, not all salaries keep up with inflation, because not communism. Since yours hasn't, I suggest you get good. ...
The security of the technology IS important - if it were possible for someone to easily steal or counterfeit bitcoins that would be a big deal - but they can't. And many experts have tried. So it's important to realize that the weak point is not the technology, but the human factor. And no more so than with other forms of digital payment.
So if you are careful with your bitcoins and treat them as securely as you would a handful of cash, then you shouldn't have a problem. You won't have to worry about someone stealing the credit card database from a large retailer and then you having to replace your card. Sure the CC company will cover the fraudulent transactions, but its still a pain in the butt. Especially if you happen to be travelling and charging stuff on your CC when it gets denied. Ever have that happen? That's certainly not convenient.
So someone hacking into a server to get CC #s is the fault of CC technology? Not a flaw in the overly technology or a lapse of security? OK, but the consumer nonetheless doesn't lose his money, unlike the endless list of Bitcoin "hacks" from TF to Ukyo to Mt.Gox etc., etc., etc. If you feel the inconvenience of dealing with the CC company is no worse than having all your money disappeared, I got nothing. There is no recourse if someone steals your coins, just as there is no recourse if someone steals your cash.
If you keep all of your money in cash, you're doing it wrong. You probably keep all your coin in an online wallet with a freshly-registered domain & no ssl, amirite? Get yourself a few CC and live like a twenty-first century human being  |
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Is this suppose to be a bear statment? You mean they cannot call bitcoin and demand they steal the bitcoin from my account and put it into theirs because they feel what they bought did not meat their standards?!?!?!?!
No. It is supposed to show that Bitcoin transactions are slow & that merchant who accept Bitcoin actually accept fiat. If there's something else you don't understand, don't hesitate to ask. |
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Pigs can't into technology. Wouldn't surprise me if they lost the bitcoins.
Pigs into technology enough to pwn this guy & his coinz |
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So I guess it means the price's gonna drop, 'coz that's what it's doing You have me on ignore, BTW. Intermittently, though every single time I have allowed you out of your little box I have regretted it. You appear to either be unemployed or have caught the bitcoin bug really bad. I did, and if this is your only account, long before you. Like any sane trader and unlike yourself, I saw the bubble for what it was & did not let greed get the best of me. That's why I can afford to donate so freely of my time to your education.  You don't even need to thank me |
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