Hey guys, I've been working really hard on making this video and getting the research for it. It is an overview of what happened to paycoin and why it was doomed to fail. Hope you enjoy. Video: https://youtu.be/41FqW4dfagEGood effort, but you are not a nice girl so I closed after 12 seconds. Sorry dude. Next time try to insert some animated scheme or something... just to break watch you with that terrible red shirt  |
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Banks are jumping onto the technology, and a couple weeks ago I had an exchange with a guy on Disqus, he was comparing Bitcoin to a ponzi... and insisted... until I posted some info from Forbes and IBT he wouldn't believe me, and in the end he didn't even answer. http://www.coindesk.com/8-banking-giants-bitcoin-blockchain/I guess that in the next 2/3 years there will be a huge number of people that will feel soooooo stupid. And I'm not talking about Bitcoin adopters!  |
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I need to scratch 10Kg (out of 96) from my belly and sides  |
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GODLIKE, If you just want to help the network, running a full node, or a wallet with the full blockchain will always be helpful. Also, like alex-ru was trying to say, it will soon be possible to earn coins by making a proposal and getting paid directly from the blockchain. 10% of the blockchain rewards are going to pay for development, marketing, or whatever brilliant idea people come up with. The only trick is to get enough people to vote for your idea that it gets approved. If you get enough votes to win a spot, you will get payments directly to your wallet.
The way this will work is that after a proposal is made, it will have a forum where the entire community can discuss it, refine it, and the proposer will adjust his specifications until he gets the required votes. Those specifications are the contract and if the proposer doesn't meet the mile stones, the voters can vote down the project and stop the funding.
It is desireable for everyone in the community to get involved, but only masternodes can vote for security reasons.
Anyway, it's a great way to earn coins if you have an idea and talent, especially in marketing or developing.
Well... it's nice... if only I knew this one year ago... I worked in the games industry, can use Unity like my hands, I make graphics and 3D models and game design. I have one idea for a betting game similar to pachinko, it's an evolution of it, with 3D graphics and mechanisms and upgraded mechanic, I think it could make a good success. But I will only get engaged into it if I find one SERIOUS person that will help me with the coding of it. I can do the whole game part, I need help for the coin integration and database (PHP, MySQL or whatever) because I haven't any experience with those. With SERIOUS I mean somebody that at the end of the week will have done what has to be done to proceed with the project, because if I don't see the progress I get demotivated soon and I NEED to see the thing in action and growing. |
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Uhm ok then, I'll not be setting up a node it seems No problem, I'll leave this task to who has those money to invest  So you weren't planning on buying any Dash anyway? If you were planning on buying some coins, then whatever amount you ended up buying could be put toward a partial share in a masternode with others in a similar situation (restating). You could setup a node without any dash just by leaving an unfunded wallet open, but you certainly aren't going to get paid for it. I don't have much funds... I plan to buy a few, like 30-50. Not enough to get into funding anything  |
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How do I get reward for running a node?
It goes to your masternode address as a default OR if forwarded as a donation goes to the address you point. Hey, I watched your link... can't understand what exactly is. And... where do I find the software to set up a node? If you have 1,000 Dash, the easiest way to setup a node is through Node40. https://node40.comAfter logging in select Masternodes => Setup Wizard. There are a few videos on the site that will show you how it works. And if you have any questions, there are real people behind Node40 who can help you out. Dude... correct me if I'm wrong but... 1000 Dash is 3700$. I want to earn something and help the Dash network, not invest 3700$ into this It's not like you lose your 1k Dash... you can sell them at anytime. Further, if you don't want to commit to buying 1k coins, buy what you feel comfortable with and look into a node share with others with less than the 1k amount. Thank you for suggestion, but I prefer to wait that they open up and set up a node myself if I can. Again, this requirement for a masternode isn't going anywhere. You're not magically going to be able to setup one without holding some coins and in total, summing to the 1k needed to qualify (be it all your coins or pooling with other fractional owners). I guess - in reality he could make a proposal to dismantle the DASH system - but I'd find it very hard to believe that enough of us would vote YEA to do that - lol Uhm ok then, I'll not be setting up a node it seems No problem, I'll leave this task to who has those money to invest |
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How do I get reward for running a node?
It goes to your masternode address as a default OR if forwarded as a donation goes to the address you point. Hey, I watched your link... can't understand what exactly is. And... where do I find the software to set up a node? If you have 1,000 Dash, the easiest way to setup a node is through Node40. https://node40.comAfter logging in select Masternodes => Setup Wizard. There are a few videos on the site that will show you how it works. And if you have any questions, there are real people behind Node40 who can help you out. Dude... correct me if I'm wrong but... 1000 Dash is 3700$. I want to earn something and help the Dash network, not invest 3700$ into this It's not like you lose your 1k Dash... you can sell them at anytime. Further, if you don't want to commit to buying 1k coins, buy what you feel comfortable with and look into a node share with others with less than the 1k amount. Thank you for suggestion, but I prefer to wait that they open up and set up a node myself if I can. |
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I have NO DASH at the moment, but I checked the features of this crypto and I find it promising.
I think that when the boom will come, this one has good chances to not crumble like all the other ones will do.
But I haven't hundreds of $ to spend to set up a node.
Here is good news for you: https://www.dashpay.io/news/the-dash-network-approves-the-implementation-of-decentralized-governance-system/Soon it'll be possible to submit your proposal - how you can help Dash project in developing and promoting. And you can also earn your first DASHs with this initiative... Hey thank you for your time. I didn't know that Dash implements this trusting mechanism... I think it's good they take it off though and allow people to join the network and help with nodes. Maybe they can re-introduce it later on, when Dash will have gained more reputation. |
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The banks idea is to use a private ledger only banks can use, so one ledger for all the banks arround the world. The trick with the currency is you convert from fiat to crypto on the bank side, so the banks communicate with their own crypto to eachother but convert to fiat when they communicate with their customers, so it will not be you who can choose to use the banks crypto, heaven forbids the customers will benefit from it. That is prohibited to the banks.
But... why do you think they would have any advantage by communicating through a common blockchain? First of all there's an ENORMOUS work to set up for ALL banks to switch from the old system to the new one. That means money to spend. May not be a big deal for the top banks, but smaller banks won't be very happy to do it. Also, credit cards companies will probably move as well to avoid being cut off the traffic by banks. And this means they will move onto Bitcoin probably. The best way to cut off banks from the currency conversion fees. Second, the problem of converting from one currency to another remains. The only one that cut it off is a public ledger like Bitcoin |
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How do I get reward for running a node?
It goes to your masternode address as a default OR if forwarded as a donation goes to the address you point. Hey, I watched your link... can't understand what exactly is. And... where do I find the software to set up a node? splawik21 can built a masternode for you if you have 1000dash but no skill or manage a share of it if you have, for exemple, just 100 or 600 dash , and for a really good price! I have NO DASH at the moment, but I checked the features of this crypto and I find it promising. I think that when the boom will come, this one has good chances to not crumble like all the other ones will do. But I haven't hundreds of $ to spend to set up a node. |
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How do I get reward for running a node?
It goes to your masternode address as a default OR if forwarded as a donation goes to the address you point. Hey, I watched your link... can't understand what exactly is. And... where do I find the software to set up a node? If you have 1,000 Dash, the easiest way to setup a node is through Node40. https://node40.comAfter logging in select Masternodes => Setup Wizard. There are a few videos on the site that will show you how it works. And if you have any questions, there are real people behind Node40 who can help you out. Dude... correct me if I'm wrong but... 1000 Dash is 3700$. I want to earn something and help the Dash network, not invest 3700$ into this |
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How do I get reward for running a node?
It goes to your masternode address as a default OR if forwarded as a donation goes to the address you point. Hey, I watched your link... can't understand what exactly is. And... where do I find the software to set up a node? |
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How do I get reward for running a node?
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Banks can take advantage of the 'public' ledger, they do not have to base their transactions and business on trust with other banks, it will speed up transactions, especially international transactions with banks they do not have active connections and not a mutual trust. Why would they use a private blockchain? Use Bitcoin, then. Or will you push another bank to use YOUR ledger? Then how many ledgers will pop up? It's like falling back to the many cryptocurrencies around the globe, or even worse: each bank its own currency! That makes no sense to me. That's where everything falls down. They could use Bitcoin to cut down everything on transactions, but that of course costs money, they should buy Bitcoins. So let's imagine they don't like this approach. They build their own blockchain. Each bank its own ledger. They are back up to the first point: translate payments from one bank to another. They could agree to make a single blockchain in common with all banks though... that could work maybe. But there are obstacles as well: each nation's currency has its own value... there's no way to overcome that. That's why Bitcoin is going to fuck them all. How they would go about the mining is every bank will have their own mining server with which they will mine their own coins, how nice is that! Banks would still make their own money, which they can then lend out to startups and companies, governments, so the old ways can still be maintained. In that they still have the power and leverage to force the government to ban or legislate the cryptocurrencies which will undermine the banks position. There's a problem with this: as BANKS can make their own currency, NATIONS can! So why in hell should people use BANKS' cryptocurrencies and not NATIONS' generated ones? Or even better use Bitcoin? Why WOULD I use bankX cryptocurrency instead than Bitcoin? This is what I can't understand. I can't find a REASON for it, and if there's no reason, I won't pay a dime more than Bitcoin just to have money to buy stuff. Bitcoin will fuck all this banks shit off for the simple reason that it makes banks NEARLY USELESS. Banks will regress to simple "goods safeguards", maybe. Maybe they will become consultants for stock options. But Bitcoin was designed to destroy fiat currency, and it's going to do that. Bit of a doom scenario, sure hope it will never come to that, that Bitcoin will prevail and make any attempt of the banking companies to copy and force the use of their corporate coins a lost cause. Bitcoin is the decentralisation money, not a tool to use to go back where we started from. let us not forget why BTC was created. We should never accept a coin that does not benifit the common good, never accept that banks will dictate our income, never accept that banks have the influence to bankrupt a country merely to make profit of a hedge fund like they did with Greece.
Banks will try to take advantage, but we must make sure they will not get it, we allready have one advantage over the banks, we have allready begun and got a nice head start! |
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Is there a plan to reintegrate them? No reason to do it. But majority can change consensus rules any time. Yes, lost coins are lost coins. Nothing you can do about it. Bitcoin is divisible to 8 places so there is plenty for everyone. Why we wouldn't be talking in satoshis term one day, not in Bitcoin terms. 1 satoshi can be worth $1 and everybody would be happy. I don't think so, and that's exactly why I opened the thread. If the whole world will ideally begin to use Bitcoins, there won't be enough for everyday use. 1 satoshi will end up worth 100$ or so, and you can't really go shopping with that smallest coin. I repeat: it's NOT an actual problem, but it MAY become in the future, even more when we consider that with time, Bitcoins are lost inevitably in different ways. So the count is not even on 21 millions, but less. My friend, let's just hope that we will encounter a problem like this in the future, that's all I can say! Ye let's hope this and then just add 3 zero at the end, game done! |
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imagine banks today.. bank branches in every town. ATM's in every 10th retail store. thousands of employee's maintaining all the computer network.. now imagine just 12 mining rigs and a single blockchain.info style web server... thats 1million + computers shortened down to just 15 servers... let alone the man power and building leases that are no longer needed in every town, due to the fact everyone can access their funds from phones and not bank branches
Not going to work, imho. For a simple reason: banks are there to MAKE MONEY. So, this bank crypto will cost more than Bitcoin, no matter what. And once people will try the bank's cryptocurrency, and find that it's working, why should they keep onto that, when Bitcoin is right at the side and costs less? Not to mention: each bank will shoot up its crappy cryptocurrency, and this will definitely kill them for the same reason: they will want fees to convert from bankX crypto to bankY crypto, while Bitcoin won't ask anything. There MAY be a period of "confusion", with some crypto popping up here and there, some also booming for a little time, but then it will all crumble. All the infrastructure they will HELP build, will be first paired up to accept Bitcoin, then services will just wipe out from their system the banks' more expensive and cumbersome cryptocurrencies. |
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By offering Bitcoin-oriented services. Protected wallets, Bitcoin savings accounts with interest, etc. Banks could really benefit from their established position.
Obviously, Bitcoin / blockchain is going to make their monopoly on money creation and traffic obsolete, but they could still make a truckload of money from services and consultancy.
But they gotta realize: adapt or die.
I don't know to which extent they can make money out of this. The only thing they can do is CONVERT fiat currency into crypto. And that will be the LAST action they will do before their death. We don't need protected wallets, there's plenty already. Interests? Yes, they can, but for each bank that will "fall" into Bitcoin, a hit will be taken by the largest banks, those that produce fiat money. Essentially, Bitcoin has a Troy Horse built-in it. And once Bitcoin will be well spread they will just die, because nobody will need their services anymore. And all you mentioned is not anything related to produce a proprietary blockchain. It's Bitcoin services: and there's plenty already. Surely if people begin to go to the bank and ask "what the hell is Bitcoin?" and they don't know how to answer, or they can't help in any way, they lost that client, at least regarding Bitcoin. But I don't really need a bank to store my Bitcoins. I can have my unspendable address wallet key protected in a email account with a good password. |
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Unfortunately, if you want to make a successful investment I think it will be too late to invest in Doge when it gets larger than Bitcoin, if you trust it, better invest now. If tomorrow Dogecoin gets larger than Bitcoin, I'll move onto Dogecoin.
Glad to hear that! You're right. Blockchain is the idea! I AM about the idea... BLOCKCHAIN IS THE IDEA!
And it's already there, working, implemented... SPREADING! In Bitcoin.
[There's no promising altcoins, because the biggest problem with cryptocurrencies AT THE MOMENT is to blow them into mainstream, and the best way to do it is to make ONE of them so well reputed that people will ADOPT it.
That is Bitcoin.
Have you ever tried to convince people to use Bitcoin, not here? I've tried. People are afraid to be hyiped, because they understand Bitcoin is not cheap already. People are different. Some people want to risk with more cheap version (LTC, DOGE), some people want to risk with the small coin. That is their choice. Higher risk, higher profit. Financial markets work in the same way. Bitcoin looks more solid, and crypto ecosystem looks more healthy, when there are good altcoins implemented into market, not BTC alone. Have you ever spent bitcoins to buy something (not altcoins?) I've spent altcoins and it works, I'll continue buying things with them. What if there are other 100 "dreamers"? 1000? 100,000? Will the coin market capitalization still be $0.00000000000001 or 0.000000000000000000000000000000000000000000001 BTC? All you want to do is keeping dreaming.
You LIKE, or LOVE, more some altcoins, so you keep dreaming that one day, for some unknown reason, some of them will skyrocket to the moon.
I wish you so, but I don't TRUST it.
Are you joking? Since 2011 and you have 1 BTC only and don't have more money to invest? 
I only have ONE Bitcoin. Unluckily I don't have more money to invest now, but I'd surely do if I could.
And if I want to INVEST, I invest into something I think will get more value.
Not into something I WISH will get more value... even though, in this case, I also WISH Bitcoin will get more value, because I WISH banks get fucked up.
Really, dude, if you like to PLAY with altcoins, that's good, you have your fun, but if you want to INVEST money in them, in the hope they will return you something, try to be more rational.
Go read about COGNITIVE DISSONANCE and stop dreaming about your wishes.
In fact I'm going to buy some Doge and other probably next week. I'm without a job and I live in a shit of country without a decent help so... yes I'm without money. The problem is, the "dreamers" are solid on Bitcoin. This is the "big" problem: Bitcoin solves 999/1000 of the issue... being the issue "FUCK BANKS". Altcoins are, in the best of hypothesis, technologically better than Bitcoin. But they lack other aspects of it, and the main one is DIFFUSION. And you can't contrast diffusion very easily, that's why I keep calling you dreamer. I would LOVE to switch to an altcoin faster than Bitcoin (I think Bitcoin transfer times are a weakness at the moment) but I simply know that 99% of other people wouldn't move, no matter what. That's human brain inertia, and there's nothing I can do about it, I can just follow it and keep on guard. About the Bitcoin price: it doesn't mean much as well. I mean, you can pay 4$ for 1 DogeCoin, but you can't know the value of that DogeCoin after 5 years. It could be 400$. Or 4000$. Or 0.4$. The same happens with Bitcoin: you can buy 0.01 BTC now at 3$ and after 5 years that 0.01 BTC could value 300$. Or 3000$. Or 0.3$ (I don't think so). You don't NEED to buy one entire BTC, or 10. Just buy a fraction. It's not important. Yes, Bitcoin has known already somewhat of a boom, but the gold era has yet to come, and it's when Bitcoin will enter mainstream. There's still some months before this happens, maybe a couple years of movement. |
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