I think I first heard about Bitcoin reading a thread on another forum about how some guys were using their AMD graphics cards to mine the crypto currency if I remember correctly. That got me very interested to learn more and so I discovered the Bitcointalk forum later on and I found a lot of useful information here that helped me understand what Bitcoin is and how to use it. I am very grateful to the awesome people here that keep on contributing.
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This mining farm looks like a repurposed abandoned warehouse out of town to me. The working conditions seem very bad though. I wonder if there is a real fire hazard because of running so many devices generating a lot of heat next to each other. I hope the employees are getting paid enough to keep this running non-stop as it seems a vey unforgiving job in my honest opinion. I don't think I would be able to do it even if the pay was great.
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No it doesn't matter to me who the real person behind the alias of Satoshi Nakamoto is. If we knew his/her identity would it have improved our lives or the Bitcoin network? No I don't think so. Knowing who is behind the mask won't affect our community in any way. I prefer to stay neutral to all attempts at sensational news of the next Satoshi Nakamoto and try to focus on how the Bitcoin market is doing. Ignorance is bliss sometimes.
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I would be happy to be holding 10 Bitcoins or more in 2 years. Actually I could buy 10 Bitcoins right now if I want to with fiat but I am not feeling comfortable investing a lot of cash into something as unstable as Bitcoin is at the moment. Whatever the price is in 2 years I will be satisfied with it because for me any profit is good and I realized it's too late to become a Bitcoin millionaire. Plus I don't use my salary to buy Bitcoins and it's just a hobby for me and not my main job.
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Well this is to be expected to be honest. A lot of early adopters have gotten a lot of cheap coins and now their holdings can amount to millions of dollars. Also there are maybe some fiat millionaires who decided to buy into Bitcoin for the long-term investment value. The fact is that the rich get richer and the poor get poorer and this pertains to Bitcoin as well. But I believe that Bitcoin can be used as a currency or a store of value and it all depends on the user.
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I think paper wallets are the golden standard when it comes to long-term cold storage of Bitcoins. If they are laminated they pretty much will be indestructible unless there is a fire but I don't think hardware wallets can withstand fire either. By the way it would be cool if we could get a business card sized piece of metal and etch the private keys on it. It would be very easy to move this card around when needed and you can literally store it in your wallet.
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If Bitcoin gets to $5000 at one time I will most probably liquidate all my funds invested in Bitcoin and happily cash out and enjoy the rest of my life partying and travelling. But I fear if everyone sells their coins at once the Bitcoin market will surely crash and may not recover again. However I doubt it we will have such an opportunity in the next 50 years.
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Can China harm the Bitcoin network if all the hashing power in the world is located there? To reach the point of centralized mining one mining pool needs to have more than half of the hashing power to launch a 51% attack on the network right? Does such a pool exist in China and why would the Chinese do that anyway if they are making so much cash off Bitcoin ?
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Expedia probably cancelled paying with Bitcoin for their customers due to the low amount of Bitcoin orders they have received in the system. But I think paying with Bitcoin is a little bit tricky when you need to cancel your reservations and ask for your money back because it's hard to get a refund with a method that is designed to be not refundable. I guess it would be a massive headache to deal with it.
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I don't think I am a profitable poker player. I don't use any specialized software to keep track of my played hands nor do I analyze any statistics of my plays whatsoever so I don't like to play cash table games where a lot of patience and reading skills of players are required. I play poker mostly for fun and not for profit and I prefer to play in tournaments where buy-ins are low and the reward is great. I do believe the real profitable poker players play cash games though.
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Not going to happen. They would have to deal with the Chinese on this and this is an American agency. The good part about bitcoin is that it is global and there is no global agency that can take control of it.
But an agency backed by the government surely has the resources to build a supercomputer that can do a 51% attack on the Bitcoin network. The Chinese have most of the hashing power only because the electricity there is very cheap but that doesn't mean any other country in the world couldn't emulate the Chinese mining farms hashing power. Bitcoin has no headquarters anywhere in the world but it still is dependent on the Internet to function.
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People hate bitcoin because they don't understand, and if they understand about bitcoin but they still hate bitcoin. Maybe they are bankir. And they can not become regulator of bitcoin.
Yeah maybe only the bankers really hate on Bitcoin because Bitcoin offers people more benefits than a regular bank account and that's why a lot of international banks are investing a lot of resources into developing their own Blockchain technology so that they will be able to use some of the features inherent to Bitcoin in their bank systems. Anyways I don't know why someone would hate a technological invention at all.
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Damn 'I am sorry I don't read 50 shades of Satoshi' is the funniest thing I have heard for a while The drama has been absolutely all over the place these couple of days and now we can finally relax knowing that Craig Wright has been proven an inept con artist and a plagiarist at that. But for everyone else that believed in his claims and vouched for him I think they will have a really hard time trying to restore their reputations.
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I don't know why Craig even attempted to prove himself as the real Satoshi Nakamoto when he knew he didn't have any conclusive proof to show to the pulic. Instead, Craig tried to wow the audience with cheap tricks that didn't work out so when he realized all he had done was making himself the laughing stock of the Internet right now he quit. Well what kind of respect do I owe this person?
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Wow Craig Wright scrapped his entire showy website and left that sentimental message on the way out. I guess he is the first cryptographically busted con artist and what he tried to do is really shameful. But I still can't understand why he did this. Was it for money, fame or something else?
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I think the last projection from this article sounds plausible and the price will be adjusted because of the supply and demand principle. There will be less coins printed and people would be reluctant to sell their old coins waiting for the price to increase so all these factors will lead to a bigger demand and smaller supply and the price will increase subsequently.
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I think the only way to control Bitcoin is to control the developers in charge of developing Bitcoin and if they want to disrupt the Bitcoin network they would need to do a 51% attack but that would need a lot of hash power. But what would the NSA achieve by stopping Bitcoin it's not like they are going to take all our coins and sell them on the market for profit anyway.
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Craig may not be the real Satoshi Nakamoto but at least he has admitted in his interviews that there are people who have allegedly helped him with the creation of Bitcoin and I think it's very likely that Bitcoin is not developed by one single person and a group of developers have contributed to the project. And whoever has worked on the project can be called Satoshi. It's just my theory though.
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I think Satoshi Nakamoto is the pseudonym of a group of people and not a single individual. But the big question at the moment is who owns the private keys to the 1 million Bitcoins. Is there really a secret trust entrusted with looking after the Satoshi legacy?
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You can lose everything if you don't keep a proper bankroll management and don't bet only 1% or 2% of your bankroll per bet. I have lost a lot betting like half of my bankroll on teams I have been very confident in that lost and I was bankrupt most of the time when I was betting over my head.
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