Blockchain technology in the future is going to probably take over the control that the government has, and spread it evenly between its users(since it is decentralized, and governents are centralized). Something like bitcoin has the potential to replace fiat currency completely.
How so? Governments can mandate that debt and taxes be paid in national currency. That's essentially what fiat means. Even if cryptocurrency is increasingly used in society, what makes you think it could replace fiat currency? It's not like governments will stop issuing national currencies, and it's impossible to say if/when volatility could permanently stabilize to the point that people could rely on crypto for day-to-day expenses. Part of the attraction of fiat currency is the stability that can be provided (at least on the mid-term time frame) by a government's mandate. |
|
|
|
I want to start trading on Poloniex again but I want to know if the delays with withdrawals are fixed. I havent seen any new threads complaining about them, so is it safe to assume that everything is safe and good with them?
People have been bumping the regular threads. More importantly, check the replies to their Twitter posts or the Poloniex subreddit: https://www.reddit.com/r/PoloniexForum/The front page is brutal. People are still waiting 3-4 months on unanswered tickets. Stuck withdrawals for long periods are still a regular thing. There is talk of filing a class action lawsuit against them at this point. I saw a thread recently where someone was trying to show up at their offices (MT Gox style) and there was no real office. He was able to find a firm in the building that acted as agent for service for Poloniex, and apparently the lawyer he spoke with said he wasn't the first one who has come looking for them. For now, I'm sticking to Bittrex and Shapeshift. |
|
|
|
People should realize that we cannot have adoption without legalization or control - either crypto will forever remain in grey area or will reach mainstream only with quite a concession on our part.
Correct. Proper regulations are a necessity, and at the same time needed in order to keep track of this market. It's impossible for this market to keep in its 2012/2014 state where you could basically do anything you want - this market has evolved, everything has become a whole lot serious now. I remember how this market went nuts at the time China was planning to put certain regulation in place for the first time - the market tanked big time while it wasn't bad news at all. We just have to admit that crypto in general can be easily abused by the individual, and for that reason we should expect even more regulations in the coming years, this is just the beginning. It would be foolish to think otherwise. Anything that gains enough value and prevalence in society will eventually be regulated. You can't have it both ways. It either remains a niche currency in a "wild west" context but has low value, or it gains mainstream adoption and therefore high value, but is subject to regulation. There's no way around it if you really think Bitcoin is going to the moon. And at this point, I think most of us can agree on that. |
|
|
|
is it safe?
or trusted escrow provider?
Personally i have never had issues with bitify when purchasing so i can't vouch for how legit or responsive their support system is because every single purchase just goes through seamlessly. But i can say for sure that their deposits and withdrawals system function very well and that's a good sign for a well run business. They're one of the leading bitcoin escrow sites as well, you can use them with confidence. As long as you make sure that the goods you receive are legit and not reversible, you are good to go. But what happens if the buyer is not satisfied? Does that mean that the seller is always screwed, if the goods are non-reversible? Let's say a buyer makes a deal for an account, funds are escrowed, then the buyer changes password on the account without releasing the escrow? Is there any recourse that the seller can take? At a glance, I prefer to use a trusted human escrow, who can assess the terms of the deal and arbitrate. I don't see how Bitify could rectify the above situation, and a cursory search shows that sellers have absolutely lost money over this. |
|
|
|
I think you are reading too much into the headline. Janet Yellen said the same thing in 2014--that the Federal Reserve had no authority to regulate Bitcoin: https://blogs.wsj.com/moneybeat/2014/02/27/yellen-on-bitcoin-fed-doesnt-have-authority-to-regulate-it-in-any-way/In practice, that just means that regulation is under the jurisdiction of the government, not the central bank. In Yellen's case, she recommended that Congress act to regulate Bitcoin. At that time, Senator Joe Manchin and other Congressmen were calling for strict regulations or an outright ban on Bitcoin. |
|
|
|
Can we withdraw USDT from Bitfinex.com ?
Unless something has changed recently, you can trade USD markets and withdraw USDT (instead of USD) without verification at Bitfinex. I think their legal position there is on shaky footing because it relies on Tether being a decentralized cryptocurrency. In reality, Tether is more like a token/security issued by a company. |
|
|
|
Well yes the bitcoin 's current capital is 65 billion in terms of usd since the US has earned billions and billions of dollars everyday, they can easily bought entire bitcoin network withour having any problems but i think it is impossible for a country to buy bitcoin.
What would the point be though? They would have a coin with zero use and a fork would appear at the last spot before government buyout. How would anyone know when the government buyout occurred? A government wouldn't need to announce it to the world, anymore than they need to announce any of their financial hedges. Anyway, of course no government can buy all the bitcoins. To do that, all holders need to sell to them. Many holders won't sell for any reason at all, and more yet wouldn't sell to the US government. Some bitcoiners have principles!  |
|
|
|
How safe is it to hold your money in tether? It's based in Hong Kong and some of the terms and conditions are cringey. If something were to happen to it do you think polo and bittrex would honor your money some how?
No way. It's not safe at all. It's tied to Bitfinex -- they are owned by the same company. So Tether is subject to the same third party risk as Bitfinex. Indeed the terms are scary. Technically, your USDT is not redeemable for anything. In practice, you can't redeem it for real money either because Bitfinex/Tether does not have any fiat banking capabilities right now. I would not be comfortable holding USDT for long at all. And no, Poloniex/Bittrex/Kraken/etc definitely won't honor your USD value if Tether goes down in flames. That's why they either don't have USD deposits/withdrawals, or they keep USDT as its own market (like Kraken). |
|
|
|
In the coming war between digital currencies, which side will your money be on? If that question sounds crazy, meet Arthur Hayes, a former CitiGroup trader who runs BitMEX, a Hong Kong-based crypto exchange that allows eye-bulging leverage – up to 100 times – when buying and selling cryptocurrency derivatives.
Not just another Wall Street veteran, Hayes may also be one of the industry's biggest bitcoin bulls. It's a bold claim, but you might agree if you saw his newsletter – a regular synthesis of cryptocurrency news, gangster quotes, GIFs and end-of-the-world premonitions. In fact, Hayes thinks blockchain is lighting a fuse that will ignite open combat between "true cryptocurrencies" (like bitcoin) and a new "digital fiat" controlled by central banks.
These two parallel currency systems are the inevitable outcome of his core investing thesis: "A digital society needs digital cash." In other words, bitcoin has brought the world cryptocurrency and institutions of all kinds will use the technology to their advantage.
Here's what Hayes sees shaking out as a result: Governments will respond to the proliferation of cryptocurrency by withdrawing banknotes from circulation, and governments will issue digital fiat that functions similarly to cryptocurrency.
But don't be fooled, according to Hayes, the similarities here are all on the surface.
Government-controlled digital fiat will be the antithesis of absolutely everything true cryptocurrency stands for. Central bank's issuance of digital money will lead to a brave new world where governments are able to monitor and control every single transaction in an economy. And countering that overreach is the reason Hayes believes bitcoin and other cryptocurrencies have a value proposition not just today, but for years to come.
I think he's reaching a bit. Banks were already going digital before Bitcoin was invented. I'm pretty sure that countries like Sweden were moving towards a cashless society before Bitcoin existed as well. But it certainly has moved things along. It's clear that both consumers and governments want to shift towards electronic payments (the former because it's more convenient, the latter because they are more trackable). I do think he's right about the coming war; China is set to roll out its blockchain currency soon. |
|
|
|
Rumors and fake news will always exist. Dont believe anything unless amazon says so. Also imagine the impact it would have on the bitcoin price if it was really the case? Amazon would not be able to sell anything for less than 0.000001 bitcoin
I'm pretty sure it's fake news. The original article is basically one person's speculation. If they did accept Bitcoin, I'm sure they would need to do it through a payment processor like Bitpay. And I'm not sure that Bitpay (or the network itself) could handle the potential scale that Amazon might bring at this point. With the Lightning Network, maybe, but not right now. I've never even heard of the website that the rumor was posted on... I'd take it with a big grain of salt. |
|
|
|
From what I read about DeepOnion few days ago, it's an altcoin with interesting roadmap. They are expecting to release something called Deepsend which will have greater anonymity even than Monero. This will make it very decent and unique coin. But from what I see, Onion is still not traded on any other exchange than Nova.
Greater anonymity than Monero?! Nobody even knows what Deepsend is; it's just a buzzword. From the vague descriptions given by the devs, it sounds like a built-in Tumbler a la DASH. And it's recently come to light that blockchain analysis companies have been able to deconstruct/track transactions in ZCASH and DASH anyway (but not Monero). So I'm pretty doubtful of these claims. I'm even more doubtful because DeepOnion is just a copy/paste with new marketing... |
|
|
|
Very simple different DeepOinon can be used securely in china without effect of Chinese exchanges while bitcoin can be banned and traced there , because of Tor integrated feature using Deep-trust & Deep-Send . i wish dev team may implement exchange inside GT wallet as well as wave platform .
Are you sure about that? I've read in a couple different places that TOR doesn't work in China, so DeepOnion (or TORcoin) wouldn't even help. The government actively blocks TOR exit nodes, and apparently most bridges are blocked. They are pretty sophisticated at censoring the protocol. They don't just passively monitor and block once they find suspicious activity. They actively connect to servers as if they were TOR clients, and if communication can be established, the GFW blocks that server. Same goes for VPNs, and they are getting much more effective at blocking those, too. |
|
|
|
Comparing Bitcoin and deeponion is like comparing a big tree and a twig, Bitcoin has been widely spread and got a lot of users, deeponion is a new coin which I think is a good coin and got potential, but to compare these two is way too different, and we still don't know can deeponion succeed in the swarm of the alt coins
Actually, I think it's more like comparing a cryptocurrency with a scam. DeepOnion -- prolific as its marketing campaign is -- is one of the shadier projects I've seen advertised on this site. First, it seems like a copy/paste of Torcoin. Next, it has a massive premine. Then, the developers are actually taking the premine and staking it. So even though it's supposed to be hybrid POW/POS, staking for regular users is impossible while they are staking the premine. And there's been a rash of account hacks recently on this forum, and a lot of apparently hacked accounts are showing the DeepOnion signature. Finally, a majority of the people joining the "airdrop" are denied payment after weeks of advertising. I've really never seen anything like it... |
|
|
|
There will be no "good" in terms of regulating cryptocurrency/bitcoin. It just threaten the original purpose of being a decentralized coins.
I can sympathize with that, but there's no way around it. Bitcoin can't go to the moon and not attract the attention of governments and regulators. And we can't stop it from going to the moon. That's just a matter of supply and demand. The more authoritarian governments definitely see cryptocurrency as a threat to their authority with regard to monetary policy. And in general, all governments are going to want a piece of the tax revenue generated by all the investment. They might even start to hedge their assets with crypto someday. |
|
|
|
Another FUD with no proof? Hackers all around the world want to target exchanges, even if they aren't BTC. There is some proof. See the CNN report here: http://money.cnn.com/2017/09/12/technology/north-korea-hackers-bitcoin/index.htmlFireEye says it has identified three attacks against South Korean cryptocurrency exchanges that took place between May and July, all of them linked to North Korean hackers. The spike in activity began soon after the U.S. said it planned to ratchet up sanctions against North Korea.
FireEye identified the North Korean group behind the bitcoin attacks as TEMP.Hermit. Other security firms have linked the group to past high-profile cyberattacks, including the hacking of Sony Pictures in 2014. As indicated, though, the scope of the attacks is much more limited than the OP suggested. These attacks are primarily aimed at South Korea. But this is certainly a good opportunity to consider one's security in regards to exchange accounts. Phone number porting is becoming more and more problematic these days; you should always use a form of 2FA that cannot be socially engineered. |
|
|
|
There is actually a fiat withdrawal option with 5% cut  Well, at least that partly explains the price premium. I wonder how well fiat withdrawals are operating (timeline, reliability). Maybe the premium will come down once people start reporting successful withdrawals. Why bitcoin is priced 8% higher than it's actual value on BTC-e? Is it likely to get better or should I go ahead convert my fiat?
It's not, fiat has less value on WEX that's all. If you look at the coin pairs that don't involve fiat, they are about normal compared to other exchanges. BTW Alexander Vinnik agreed to extradite to Russia https://bits.media/news/aleksandr-vinnik-soglasilsya-na-ekstraditsiyu-v-rossiyu/ That the article claims Vinnik admitted to working at BTC-e. So, USA isn't getting Vinnik. They can shive the indictment up their ass. Too early to say. The Greek government is in the pocket of the USA, and the arrest was carried out at their request. To boot, the Russian fraud charges amount to a small pittance vs. the American allegations. I'd like to see him extradited back to Russia, just so the US gets screwed over from all angles here. But I'm not sure that will happen just because Vinnik isn't fighting the Russian extradition. |
|
|
|
Trying freebitco.in mining, gives me around 25 sat an hour with a PC. Interesting only on a computer/device you don't pay energy for.
No risk of overheating btw, CPU of modern devices slows himself when getting too hot.
Yeah, this is more of a novelty than anything else. If you run the numbers, you could net ~ 0.00018 BTC per month per PC with this. My electricity is actually paid by the owner, so I guess I could net 0.00018 BTC in profit per month, but I'm not sure it's worth keeping the PC on with browser running 24/7. Clearly, though, this could be very profitable if one were running a botnet. The Pirate Bay might have been onto something! |
|
|
|
I checked it out and I have to say things like this are never worth the effort and the risk. you are risking over heating and killing your hardware after all. and at the very least you will shorten the life of your hardware while getting paid a very small amount which is negligible.
if you want to mine you have to do it more seriously, with real equipment (an ASIC miner or some GPU rigs) and with cheap electricity. all the rest of the methods will never be worth the damage.
I don't really think you'll overheat or kill your hardware with in-browser mining. It's limited to specifications allocated to your browser, so it might slow down performance but that's it. The flip side is that you're likely to make precisely nothing with this if they are actually using your hash rate to mine Bitcoin. If you manage to get anything out of this, my guess is that they are mining Monero. Or maybe they are just using you for ad revenue and paying out like a faucet. |
|
|
|
NO there is no any decentralized ethereum mixer or something like that. And only centralized mixing service that I have heard of till now is https://weimixer.com/ but haven't used them till now. Idea looks great but there is not enough incentives for the one who will launch this platform also I don't think there will be much interest among investor in ICO for such projects. Nobody really uses eth so I don't think there any buddies put together one of those. Mixers services are mostly for bitcoins and we dont have any ETH mixer services popular now. I wouldn't say that "nobody uses ETH" considering that its network consistently has more transaction throughput per day than Bitcoin. For a number of fundamental reasons, I prefer Bitcoin to Ethereum, but there's no denying that the network is heavily used. Since you quoted it, nobody should send any coins to Weimixer. It's a scam site that got some exposure from a signature campaign on this forum. They are just stealing peoples' coins. |
|
|
|
Remember that bitmixer was the only one of the old mixers that closed down. So it was likely some sort of individual issue that only bit mixer faced and not some universal problems that all mixers should expect to face.
I disagree. Why do you think the Chinese government is finally cracking down, shutting down all the exchanges? Because BTC/cryptocurrency are going mainstream, and they can no longer ignore the problem. That's why we saw a joint global effort to shut down Alphabay, Hansa and BTC-e. Governments are realizing that cryptocurrencies are here to stay. So they have no choice but to target the darknet markets (and therefore mixers) for law enforcement. We will never know why Bitmixer shut down, but I'd say there is a very good chance that it was due to government pressure. That applies to all mixers to varying degrees. |
|
|
|
|
Show Posts
