ICO's are called initial product offerings that use Ethereum's blockchain to launch these ICO's as smart contracts are necessary for the pump and dumps for some reason.
you just put some buzz words into the blender, man. ICO can be done with any coins, not only ETH-based. Pump&Dump can be made buy any rich person and is not a blockchain invention. Well, now with ICOs anyone with the enough hype, chuzpe and pseudo-expertise can start a pump-and-dump, even without being rich! It's the ultimate democratization of financial scams! |
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When someone plans to do crypto mining one of the most important points is the place. I want to know where you put your RIG?
let's discuss the size of the room you have and do you put your miner in the bedroom or special room?
If you value your sleep you definitely shouldn't place a miner in your bedroom. The only viable scenario to put rigs in your bedroom is if it's winter, you want to save on heating and need whirring noises to get rid of your tinnitus. When I still had rigs running I had a basement to run them in. Dry, low temperature and no one gets bothered by the noise. Before I moved them to the basement I had them in the living room, much to the dismay of my significant other so they didn't stay there long. I only had 2 rigs at most and that already warranted a room of its own. But it depends on your own noise / heat tolerance I guess. For a proper, large scale operation you definitely need something like a warehouse or at least a garage / large basement / dedicated room. |
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Hello everyone, I've started working on a blog, CoinRobin. It's a curated collection, anonymous bitcoin horror stories. I don't know if this is out-of-place, since everyone else seems to working on a software project while I'm working on a blog project. I'm a programmer myself and a bitcoin hodler, but I'm already working a few other programming projects and I wanted focus on something programming-related, but not actually do any programming. Haha. I know there is already a few Bitcoin reviews site, so that's why I wanted to focus on giving a good reading experience instead. Like after a stressful day at work, you come to the website chill, read and laugh at other people's misfortune to make your life seem better. I love any feedback and criticism. But go easy on me, I'm fragile.  Great idea, haven't seen any blog like this before. Everyone knows (or experienced) crypto horror stories, it's refreshing to read them in a way that doesn't end in bickering and finger-pointing. Just one complaint, please make the text a bit darker. I know faded text is kinda hip but at least to me it's annoying to read. |
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Could we have a site with P2P vendors?
I suggest ;-) !
I personally haven't used them yet, but maybe OpenBazaar is what you are looking for. Or did you mean something else by p2p vendors? https://www.openbazaar.org/ |
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Bitcoin ALREADY has opportunity to create smart contracts. BUT: Bitcoin uses Script programming language which is not Turing complete, so it is very hard to code something on it. Ethereum has high level programming languages like Solidity, Serpent (As i know Serpent will be replaced by Viper in near future) and it's very easy to create smart contracts on it.
[...]
It is worth noting that while it is easy to write smart contracts on Ethereum, it is still very hard to write a bug-free smart contract. Hence the parity hack and what happened to the DAO. Easy to write more often than not translates to easy to fail. If your web app fails -- aw well, just fix it. If your non-reversible multi-million-dollar smart contract fails, that's less fun. Restrictive scripting and programming languages are much safer in that regard and exist for a reason. |
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Is anyone well informed on the subject of Tax Paying in Austria?
What I have been able to find out at the moment is the Following:
If you directlecty extract Bitcoin from a recent trasaction you pay 50% Tax
If you can prove that the transaction that you made which got you the bitcoins is older than one year it becomes tax free.
If you want to extract bitcoin you can do it at an bitcoin ATM Upto 250€ without any form of document
- after 500€ you have to show ID
and anything higher than that upto 5000€ you have to prove where you got the bitcoins from.
Anybody better informed on the Topic can that confirm this?
This proves that bitcoin is really a help to boost the economy of the nation thru imposing tax for every bitcoin transactions but i think the 50% tax imposed are too much. This policy needs to be regulate because it most likely some people will stop investing in bitcoin because most of the bitcoin users are already complaining to the transaction fees imposed by the wallet then the said tax is another burden. Don't worry, I'm pretty sure that OP misunderstood something in that regard as Austria has been rather sane regarding Bitcoin taxation. |
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BTC volume in euro is at 4.85%?
I guess most Europeans must be trading BTC in USD?
Wonder if there's any advantage in doing so... None that I know of. I guess it's mostly a mix of a) BTC/USD being the most widely available crypto/fiat trading pair and b) people whose native currencies isn't traded as much falling back to USD rather than to EUR. Or maybe Americans are more likely to day-trade  |
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So what happens next in Japan, which explicitly legalized bitcoin in April, is important. Exchanges there have until the end of this month to register with the FSA, which has set up a team of 30 people to examine their security practices and the required separation of customer assets from their own. I know regulation is not very liked here on these boards, but I find it actually very positive that the Japanese Government is taking steps to protect its citizens from fraudulent exchanges. They probably took a lesson from the whole MtGox debacle. If you want to retain your privacy there's still p2p trading. But if you're just a regular Joe that simply wants to securely invest in Bitcoin without having to navigate around potential scams then that's a very reassuring move. I think what is worrying the Japanese regulators is the sudden influx of traders from China to the Japanese exchanges. They don't want to be party to any capital flight from China, they just want the Japanese exchanges to be doing legit trade for Japanese customers. Good thinking! Nonetheless I'd expect Japanese authorities and exchanges to announce trading restriction for Chinese citizens if that were the main concern. But who knows, maybe that will come up sooner or later. |
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Pretty awesome. I agree that little up / down arrows would be nice. Alternatively you could also try coloring the price itself red / green to indicate market movements, but I'm not sure if it would read that well. Either way, great idea.
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Not bad, sneaky sneaky ICO token marketing. Are you aware that there is already a Time token, or are you somehow related to chronobank? [...]
3. will only sell locally made artisanal goods that are traced from origin on a blockchain, to give the consumer full transparency
[...]
If we create a system where we can record (on video) and audit
every step of the process for creating a product and save it onto a
blockchain ledger that can then be viewed by a consumer simply
by scanning a QR code on that product, then we could essentially
solve the problems of companies lying about their products and
give consumers complete transparency to what they are
purchasing. How does the consumer know that the videos were actually recorded on the production site? How does the consumer know that the production hasn't changed since the video was made? Can the consumer only access the image material via some sort of blockchain explorer or do you plan on releasing the respective image material so that the stored file hashes can be cross-checked? Which hashing algorithm do you plan on using for making aforementioned image material verifiable? I admittedly only skimmed your white paper, so apologies in case I overlooked something that answers these questions. |
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MyEtherWallet is probably your best bet  for sure, and as extra security can be linked with ledger nano. ...or a Trezor! Either is fine OP, but if you plan on buying a larger amount of tokens consider buying a hardware wallet. |
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Is anyone well informed on the subject of Tax Paying in Austria?
What I have been able to find out at the moment is the Following:
If you directlecty extract Bitcoin from a recent trasaction you pay 50% Tax
If you can prove that the transaction that you made which got you the bitcoins is older than one year it becomes tax free.
If you want to extract bitcoin you can do it at an bitcoin ATM Upto 250€ without any form of document
- after 500€ you have to show ID
and anything higher than that upto 5000€ you have to prove where you got the bitcoins from.
Anybody better informed on the Topic can that confirm this?
What do you mean by "directly extract Bitcoin from a recent transaction"? I'm not aware of any lump sum 50% taxation on Bitcoin in Austria. Here is what I've gathered so far: 1) If you hold BTC for longer than a year you don't have to pay taxes on capital gains. 2) If you receive BTC as payment (ie. for goods, services or mining) or have speculative winnings (trading, selling before the 1 year holding time is over) you have to declare and pay income tax, with the profits being taxed according to your overall income (including non-BTC income). Income is calculated based on the BTC exchange rate at the time the profit / income is generated. Expenses such as electricity cost for mining can be subtracted from your income. I think this also applies to trading losses, but I'm not 100% sure. 3) If you commercially sell BTC you have to pay sales tax on the markup (where applicable). 4) If I'm not mistaken in some cases side income of up to about EUR 700,- per year is tax free. This seems to be true in general, but may be useful for BTC gains as well. About the documents / IDs: As far as I know there's no clear legal ruling on for which amounts which documents / proofs are needed. The limits as currently imposed by BTC vendors in Austria is rather weird, as for example you can still buy EUR 9.999,- worth of gold without ID. However the limits as applied by commercial BTC vendors appears to be based on a very conservative interpretation of current anti-money-laundering regulations. Most online exchanges (even those that closely follow regulatory guidelines) are not quite as strict. Disclaimer: Alle Angaben ohne Gewähr  |
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@anonymoustroll420: strictly speaking it is not a blocksize increase. Stuff has been moved in another place to make room for other transactions.
As far as I know blocksize is the same and that's the reason for "2x or not 2x". But this is another story.
No, that is strictly false. Segwit is a block size increase; the size of a block message can be up to 4 MB now. 2x is yet another block size increase; it makes the maximum 8 MB. To expand on that: Legacy nodes "perceive" SegWit blocks as staying within blocksize limitations, however the "physical" size of SegWit blocks can reach the aforementioned 4MB (ie. the "Stuff that has been moved in another place to make room for other transactions" is still part of the block, propagated over the network and stored in the blockchain, but ignored by legacy nodes). |
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So what happens next in Japan, which explicitly legalized bitcoin in April, is important. Exchanges there have until the end of this month to register with the FSA, which has set up a team of 30 people to examine their security practices and the required separation of customer assets from their own. I know regulation is not very liked here on these boards, but I find it actually very positive that the Japanese Government is taking steps to protect its citizens from fraudulent exchanges. They probably took a lesson from the whole MtGox debacle. If you want to retain your privacy there's still p2p trading. But if you're just a regular Joe that simply wants to securely invest in Bitcoin without having to navigate around potential scams then that's a very reassuring move. |
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personally, i think a successful ICO needs the following "ingredients":
-strong business case that's disruptive
-well qualified team running the project
-strong marketing to reach the right audience
Needless to say, technology plays an important role as well, however technology is just the 'plumbing" to the business solution unless the technology is a breakthru.
just my humble opinion.
Problem being, most ICOs seem to focus mostly on the marketing part while utterly neglecting the first two points. This leads to the typical ICO business plan looking like: 1) Throw buzzwords 2) Issue tokens 3)  4) Profit! ¯\_(ツ)_/¯ This is not problems of ICO's only - most of the businesses are like that, be it a start up or corporation that is on the the Nasdaq. They always allocate bigger portion of money and effort to the marketing rather than product, Marketing plays a big role in every industry, that's true, but nowhere is the actual substance as lacking as with your run-of-the-mill ICO. Startups tend to be overvalued, but they get heavily screened by potential investors before they even see a penny. NASDAQ companies have actual products and a market share. Now I'm not saying that all ICOs are bad. I'm just saying that a lot of those ICOs are the tech equivalent of a neighborhood lemonade stand -- only they don't sell you lemonade, but tokens which may or may not be redeemable for lemonade in the future. |
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personally, i think a successful ICO needs the following "ingredients":
-strong business case that's disruptive
-well qualified team running the project
-strong marketing to reach the right audience
Needless to say, technology plays an important role as well, however technology is just the 'plumbing" to the business solution unless the technology is a breakthru.
just my humble opinion.
Problem being, most ICOs seem to focus mostly on the marketing part while utterly neglecting the first two points. This leads to the typical ICO business plan looking like: 1) Throw buzzwords 2) Issue tokens 3) ??? 4) Profit! ¯\_(ツ)_/¯ |
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We usually come to this thread to complain about issues, withdrawals not being processed and all the rest of it, but let me say something about SafeDice in the last month. Site has been working without glitches and gaming experience is back to normal. It looks like SD worked hard to solve what scared away investors and players. I was one of them, I left SD because it was not responsive anymore. Glad to be back and hopefully SD will keep on improving things. EDIT: Site is down  The last famous words Great, you jinxed it :p Maybe it's just a fluke, but after seeing the Cloudflare error page I've now been able to reach the site. Let's see if it stays that way. |
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The technical analysis sustained by most professional traders on bitcoin right now is that it was key to stay above the $3400 latest bottom as the closest resistance we had, because below that it was descent into hell. We were able to stay above that and don't cross the 300 day moving average which would have been very bad, through the weekend, and now that the market started becoming active with the start of the week, we are seeing massive bull pressure to break the $4100 key point. So keep an eye on that number if we cross it, get ready for another re-test of an all time high possible as soon as this week, which with due traction, could lead us to $6000 pretty easily.
I was positively surprised by USD 3500,- holding the way it did. Now the way I see it everything indeed depends on whether we manage to break USD 4100,-. However I'm afraid that the slightest sneeze by China might send us retesting USD 3500,-, probably even USD 3000,-. Let's see. |
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If bitcoin introduces the smart contracts then I think the value of Etherium might dip. Etherium was solely built because bitcoin did not have smart contracts.
Yes, it's true. But whether bitcoin can make a smart contract? I don't think so. Ethereum this is a smart contract.. not Bitcoin Read OP and the first reply again. There's work being done on bringing smart contracts to Bitcoin via sidechains (ie. RSK) and other approaches. Their viability still remains to be seen however, as earlier attempts at bringing smart contracts to Bitcoin received only luke-warm reception so far once the initial hype subsided -- XCP and Omni (FKA Mastercoin) come to mind. |
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[2] is each transaction stored or is only the final decrement or increment stored or only
[2] Just the last one is useful to you as an honest man. There is a huge risk for anyone trying to get the previous state published, while it is a lot less risky for the honest counterpart in this attempt. What if you lose your wallet right after making the third transaction on a certain payment channel? If your business partner broadcasts an older transaction, there's nothing you can do about it. If I'm right on this, you'll need to make a new backup of your wallet instantly after every transaction. I've been wondering for a while now whether this is true or not, as it'll be a hassle to use securely. Interesting point. It seems like you would indeed need to find a way to regularly backup your channel state. However your counterparty doesn't know that you're not able to react to them broadcasting an older transaction, so the attack remains risky. Additionally, pretending to have lost the channel state (in whichever way you would go on about that) could actually be a profitable way to trick would-be attackers. |
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