Bitcoin Forum
June 18, 2024, 06:49:35 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: « 1 ... 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 [189] 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 ... 296 »
3761  Bitcoin / Bitcoin Discussion / Re: Stanley Druckenmiller: another billionaire sees bitcoin as store of value on: November 10, 2020, 12:42:56 PM
Watched the interview earlier today, what I found most interesting was how he compared both assets;
"Gold is a 5000 year brand and is a go to asset in terms of inflation" and later on;
"I own many many more times gold than bitcoin but frankly if the gold bet works the bitcoin bet will probably work better because it's thinner, more illiquid and has more beta to it."

This means he considers an asset which is almost 12 years (from the Genesis block) to be a better bet than gold which has been around for 50 centuries. The more people come to this realization, the more adoption Bitcoin would get.
3762  Bitcoin / Bitcoin Discussion / Re: How does crypto custodial service work? on: November 10, 2020, 12:23:48 PM
Hey guys, do you know how does crypto custodial service work at banks or some other financial institutions?
There are currently a few services which have been granted the SPDI charter to function as a crypto bank;
• Kraken Wins First Crypto Bank Charter In U.S. History
• Avanti Digital asset bank
These are custodial services which function effectively as centralized exchanges for buying and selling cryptocurrencies, as well as holding assets for its customers. They also offer banking services like IRA, debit/credit cards as well as asset management services.

Do they actually take your ledger cold crypto wallet and put into a vault or something?
No, although if you're unsure of where to store your hardware or paper wallet, you can keep it in a bank vault, same way precious metals are stored. In this case, you still have control over your funds and can access it through your backup. Custodial services hold your assets as you're storing on their wallet and as such they can freeze your funds and block your account.
3763  Alternate cryptocurrencies / Altcoin Discussion / Re: Recent situation of Cryptocurrency... on: November 10, 2020, 09:20:55 AM
If you're looking for a coin to invest in, you would have to do your own research. Pump or hype around a project does not mean it is credible or worth holding for the long term, and if you're looking for a get rich quick venture, you should understand it's a huge gamble and you bear the risk of burning through your capital quickly as well.

The altcoin space is a bit crowded in now with so many new projects springing up due to the DeFi hype, as an investor you should learn to filter through it all and decide if any coin or token is actually worth your investments.

In my opinion, the clearer the team information as well as the platform development, the more likely it will succeed in this Bull run phase. KiraNetwork will be a good example Wink
Utility is also an important factor. Some projects do not survive market cycles cause they were built on hype without actually trying to solve any problem, which would have driven demand to it.
3764  Bitcoin / Bitcoin Discussion / Re: Top Tips for New Bitcoin (BTC) Investors on: November 09, 2020, 03:23:51 PM
If you are a new bitcoin (BTC) investor, there are some major things you should know and have to do before you get started.

- Do your research
- Don’t force yourself into it
- Invest in other cryptocurrencies
- Keep your assets secure
- Prepare for volatility
If one is investing in altcoins, they are technically not Bitcoin investors, but cryptocurrency investors.
I do not think that should be a tip for new investors as there is no necessity to invest in other cryptocurrencies. If one finds a coin which they consider to be worth investing in after going through the fundamentals, they can take the risk, but new investors interested in Bitcoin should be under no pressure to diversify their holdings.
In my opinion, the best form of diversification is having a real life business or source of income which would prevent you from dipping into your Bitcoin stash for regular needs.
3765  Other / Beginners & Help / Re: Platform that someone can send me btc from his wallet to mine instantly. on: November 08, 2020, 05:36:40 PM
I use binance but i dont know any way to transfer btc in seconds
From your topic title and this quote, I would assume one of your inquiry is, a way to send Bitcoin 'instantly' or in seconds.
Bitcoin transactions are added into blocks which are confirmed averagely every ten minutes, after which a new block gets filled up for confirmation. So regardless of the amount paid in fees you cannot make a transaction get confirmed instantly (as this depends on the network), but only put it closer to the tip of the mempool by paying priority fee.
You should note that 10 minutes is the average time time for block confirmation, it could take much longer than that or happen in seconds.

I want to know if someone knows any platform that someone can send me btc from his wallet to mine instantly without moving btc value.
Bitcoin does not lose value when sent, what happens is you pay a fee to miners to get the transaction confirmed, and if you're using a centralized exchange like binance, they charge a service fee on transactions. These fees are taken from the funds in your wallet, if you're sending the maximum amount, it is taken from the transaction input.
To avoid this service charge, use a non custodial wallet to make transactions.
3766  Other / Archival / Re: 1 Hour = 1 New Bitcoin-ATM on: November 08, 2020, 01:25:01 PM
because, in their opinion, Bitcoin ATM is a vulnerability in the privacy of a crypto user, and all these rapid spreads of such devices are made with the aim of collecting data from crypto users, which does not correspond to the concept of anonymity and privacy in crypto.
This is not unique to ATM services. Bitcoin ATMs function as a regular centralized exchange where one can buy or sell Bitcoin directly using a debit/credit card or bank transfers. Such services offer liquidity for the Bitcoin market, as not everyone can or is willing to trade on decentralized exchanges or through OTC trades.
If combined with privacy practices, like use of non custodial wallets and coin mixing/joining services, it could be done right with little effect to anonymity or privacy.

Have you ever used Bitcoin ATM and, if not, would you like to use similar devices in the future?
I am yet to use one as it is not quite popular in my country.
If I'm to use one in the future, I'll likely trade below the KYC limit as some ATMs allow one to buy or sell cryptocurrencies below certain amounts without needing to register on their platform and input personal details.
3767  Bitcoin / Bitcoin Technical Support / Re: Status: 0/unconfirmed, not in memory pool on: November 08, 2020, 11:53:07 AM
Is this a recent transaction you made or an old unconfirmed one?

There's probably a glitch for the transaction to not be on the mempool; it's possible the parent transaction was unconfirmed at the time of sending and later got cancelled (through a double spend or got dropped from all mempools) rendering all child transactions invalid.
If you're the one sending the bitcoins, you should also verify the receiving address to ensure it is a Bitcoin address.
You can also try tracking the transaction on multiple block explorers.

All these are guesses and we'll probably need more information, like txid or public address to give a more accurate advise.
3768  Bitcoin / Bitcoin Discussion / Re: What made yoi think of investing in bitcoin at the current market? on: November 08, 2020, 08:46:20 AM
If you consider the price changes in Bitcoin retrospectively, you would realize that the term 'cheap' doesn't really apply. Every spike in price does not make Bitcoin expensive, it's only higher in value than it was some time ago, but as mk4 said, if you consider it to be lower in value than it could be in a future time range, then it is still a good investment.
Investors may have seen spikes like $300-$1000 and assumed Bitcoin to have become expensive and choose to wait for a correction, meanwhile the market rode that waves to as high as $20,000.

I do not know the reason behind the good market o bitcoin
The market price is connected to the fundamentals of Bitcoin. Bitcoin has qualities which an average Joe can think; 'I would want to own one (or a fraction) of that because of <inserts unique quality>', and an investor who may not be interested in those qualities could still want to own Bitcoin cause they feel the demand for it would increase making it a wise investment for profit.
The more demand grows the moe valuable it gets.
3769  Bitcoin / Bitcoin Discussion / Re: Bitcoin as a world power? on: November 07, 2020, 07:49:24 PM
Bitcoin as a decentralized asset does not need to be validated by a government inorder to go mainstream. More adoption is always welcome and anyone can trade or hold it, but its growth should not depend on the actions of a person or institution.

You can move with millions of dollars in your wallet as bitcoin.
Moving with millions of dollars worth of Bitcoin may not be a good idea. Such amount should be safely tucked away in a hardware wallet.
3770  Other / Beginners & Help / Re: Constructive discussion on the very old thread. on: November 07, 2020, 02:26:26 PM
I don't know if he noticed the date of the original thread or he just filling up his weekly quota for the Signature campaign.
Except the thread is a stickie, the poster would have gotten the warning, that the thread they are about to reply to has not been posted on for over 120 days, and they should reconsider if the want to reply or start a new thread on the topic.

Although the reply was constructive, but who knows if the OP still alive?
Is there a possibility that the reply would still be relevant today and helpful to other members who may have a similar inquiry?
Waking dead threads may be unethical in some situations, but a user could have a valid reason for choosing to do that, I think there are much easier ways to spam than digging up 8 year old threads.

*Edit: Issue solved. I'll also vote for that thread to be locked to prevent future bumps.
3771  Economy / Economics / Re: Biggest threats to the price of Bitcoin. on: November 07, 2020, 10:33:57 AM
I was wondering what you guys think is the most likely instances that would cause the price of bitcoin would sink back below say the $5,000 or the $10,000 mark?
In my opinion, this could either be caused by the discovery of vulnerability in the network or government policies which limits its usage.
A vulnerability while possible, is unlikely. The network has a difficulty barrier which prevents malicious attacks and limits the effects in such a situation. It is also fully decentralized, so there is no central server or body which can be exploited and lead to a crash.

Government regulations; such as an outright ban or use of strict policies could have a huge negative impact on Bitcoin. However,
• Such a ban may need to be synchronized to have a real effect. Bitcoin currently has different legal stance in many countries, ranging from places with tight restrictions or bans to places which encourages its usage.
• The effect of a ban would likely not be long lasting, people can always move out from places with tight restrictions to more enabling environments, thereby creating an economic risk for countries which aims at stringent laws.

Overall, I would say a global consensus by governments restricting Bitcoin poses the biggest threat.

There is still one major threat which Bitcoin faces, and this comes from the community. If majority of Bitcoin users traded their autonomy and privacy for convenience by accessing it through centralized platforms, Bitcoin could become another digital fiat, losing it's unique qualities.
While this may not have an instant impact on the market, it could overtime become more significant as governments would be able to control Bitcoin effectively (freeze coins and prevent certain transactions).
3772  Other / Beginners & Help / Re: Investing in Bitcoin via Bitcoin ETP on: November 07, 2020, 07:42:52 AM
At the moment I have the majority stored in a hard wallet which I appreciate is very safe, however for one reason or another related to my inexperience, I do feel a little bit uneasy at having most of my funds in once place so I am temporarily keeping a smaller portion of my Bitcoin in my Coinbase and Coinbase Pro accounts even if it may be a little less secure.
It is rational to want to spread out your funds, but storing bitcoins on a centralized platform, may not be the best option. You can try downloading a non custodial wallet and keeping a portion of your assets there, preferably on an airgapped device.

Also, on your hardware wallet you can explore with addresses available by adding passphrases to your original seed phrase, thereby creating a new address where you can store a portion of your funds. Your added passphrase can be made as strong as possible with the use of alphabets, numbers and special characters. You then create a backup for the different addresses and store them in different locations.
Although, if your hardware device is compromised, it could potentially affect all your addresses (some other member can confirm this, as I'm not certain)

Does anybody else invest in this company or would you consider doing so?
I do not, and also do not intend to. Imo, If one has access to buy Bitcoin directly without regulatory hassles then that would be the best option.
3773  Economy / Economics / Re: What is causing last few days' run-up? on: November 06, 2020, 06:40:40 PM

• PayPal integrated Bitcoin into its platform

This does not explain why the price of other altcoins goes up as well. Many assets have been followed bitcoin and some have been recorded increasing significantly. And PayPal only accepts bitcoin as an inactive asset on its platform which does not surprise me at all
PayPal integrated four cryptocurrencies into its platform; Bitcoin, Ethereum, Litecoin and Bitcoin Cash.
Also, the cryptocurrency market is heavily dependent on Bitcoin as the major asset with a dominance of about 63.7% as at this time, so when there is a spike in the value of Bitcoin, it has a tendency to influence some altcoins and carry them along same way when it crashes. I however expect a decoupling of the crypto market overtime and bull runs would likely become less synchronized.

I agree that Paypal has given bitcoin some sort of 'legitimacy' for those not familiar with crypto because its trusted by many. A lot still have their doubts over BTC because its associated with the scam projects and its not even widely adopted yet.
I understand the argument of services like PayPal acting as a bridge to connect Bitcoin to users who are on the fence or doubtful about investing. Centralized adoption is not the ideal route for a decentralized asset, but increasingly seems to be the cost to get Bitcoin mainstream.
Bitcoin is not associated with any scam project AFAIK, everyone should endeavor to do their own research.
3774  Economy / Speculation / Re: BTC Targets for 2020 on: November 06, 2020, 11:23:54 AM
Do you think we will see it break past $20k?
It is possible. During the last ATH rally in 2017, it was not until the end of November that Bitcoin surpassed $10,000 but at this point now it is already testing the $16k resistance level. The value of Bitcoin is unpredictable, but we could very well see a new All Time High before the end of they year.

<...>
Regardless of who emerges victorious, it would have little effect on the Bitcoin market overtime. Afaik, neither candidates has interest in aggressive policies which influences Bitcoin and cryptocurrencies. Some parties even suggest that Biden's policy on tax and money printing would shift more people into Bitcoin.
3775  Economy / Currency exchange / Re: Brainboss Currency Exchange Service {BTC/NGN Altcoins/NGN} NGN = Nigerian Naira on: November 06, 2020, 08:29:03 AM
Cryptocurrency: Bitcoin
Dollar amount: $15
Bank Name: Guarantee Trust Bank
Account Name: **sent**
Account Number: **sent**

Edit: txid - a5498e3bcc76550022d47f18be97dc66565c9227c749c76546b62a7611df38b1

*Funds received. It's always a pleasure.
3776  Economy / Economics / Re: What is causing last few days' run-up? on: November 06, 2020, 07:21:38 AM
The market is largely unpredictable and there is no one factor which causes a bull run, there has been lots of organic growth over the last few months (before and after the halving) which was capable of building bullish sentiment in the Bitcoin space, but without any significant effect on the market value;

• Microstrategy adopted a Bitcoin standard
• Grayscale increased their Bitcoin AUM and hold about 2.4% of total supply
• PayPal integrated Bitcoin into its platform
• A number of other public companies bought and hold Bitcoin.
So, this can be viewed as a price correction with the market value closing the gap to match sentiments of traders and holders.

Imo, Bitcoin has been undervalued for a while now and had the potential to spike up at anytime, but with no certainty on when; Guess we are there now.
3777  Other / Beginners & Help / Re: Newbie But Not Beginner on: November 06, 2020, 07:01:11 AM
There are hundreds of good posts on this forum daily, a lot of art competitions, a lot of football banter and if someone can not figure one post to merit then such person should be looked into, posts not meeting criteria is not an excuse and can never be this forum is big enough to produce 50-100 good posts per hour.  
Merit sources like most other users have boards they frequent, and they are appointed on this basis. A source who is active on a couple of boards would majorly distribute merits there, you wouldn't expect them to venture into sections they have little knowledge of as they would not be able to discern which post is quality and which is not.
Also quality is subjective, if you find 50-100 good posts per hour you can report then here - [self-moderated] Report unmerited good posts to Merit Source.

Most of them sell merits so they accumulate them to make a profit for themselves  
If you're going to make this accusation, you should show some sort of proof, otherwise it's just baseless trolling.
3778  Other / Archival / Re: localbitcoin com? on: November 05, 2020, 11:43:33 PM
There's no guarantee the individual is on this platform or that they'd see your thread here. It is also not good practice to try reaching out in this manner as you expose yourself to scammers who can impersonate the person you're searching for.
If you do not trust a site to trade on it, then avoid it completely, there are a number of other ways to buy and sell bitcoins.
3779  Other / Beginners & Help / Re: Newbie But Not Beginner on: November 05, 2020, 08:36:47 PM
Who are merit sources?
These are individual among us who applied and were selected by the Global Moderator(thymos)after so many screening, these are people with a good reputation on the forum , they are good posters, smerits are generated and shared to them to distribute to post they found fit but mind you most of these merit source dont distribute merits they allow it to decay if you ask me why I don't know.
Firstly, theymos is the forum administrator, not the global mod.
About smerit for sources, I do not think most of them fail to use up their stash, some do due to inactivity or failure to find enough merit worthy posts which meets their criteria.

No Second Chance.
This forum doesn't tolerate nonsense they only accommodate heroes and not losers, they only want the best from you and expect you to win-win-win the day you lost any battle you are out, several good posters dedicate their lives to this forum who had thousands of good and constructive posts over the years but were kicked out for plagiarism, they had 1k good posts and 1 bad post and were send packing no second chance so you must be at your best no fluke only 100% accepted here.
The forum does not expect anyone to be a hero (whatever that is in this context), there are just a set of rules which guides the activity on the forum, and failure to keep to those rules attracts some level of punishment. Asides this, the forum is designed to be as free as possible and to accommodate the various interests of members.
Some members have gotten permanent bans reduced to signature bans on the merit of their overall contribution to the forum, so that counts for something.
3780  Economy / Economics / Re: This is why bitcoin HAS to go up on: November 05, 2020, 04:44:40 PM
<...>
My exact thoughts.
Inflation is not just a decrease in the value of a currency due to supply shock or scarcity of products, but it is equally represented as an increase in the price of goods. So, if the value of Bitcoin goes up when priced against the USD due to inflation, the price of products purchased by the USD would have also increased to counter this change.

Bitcoin can be used as a hedge to escape hyper inflation, but inflation does not directly make Bitcoin more valuable imo. Think of it as a balance scale, with two weights on each side; if one gets lighter, the balance shifts, as the other one pulls the scale towards its arm without any increase in its weight.
Hopefully in the future, Bitcoin would be priced against actual products and work hours, rather than against fiat currencies.
Pages: « 1 ... 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 [189] 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 ... 296 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!