Dear Mr. Decoded
I just want to inform you that I am now formally withdrawing my signature in this campaign and I am grateful that I participated in this wonderful signature campaign that you manage. Best wishes for you and the campaign.
Thanks.
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BTCBITCOIN Split this 25 Oct, How you think? - 1 - Support, why?
- 2 - Not Support, why?
We support it or not when there is a fork that will occur we can't do nothing about it no matter how bad we don't want it to happen, and when it happens I will still use the original Bitcoin and of course I will not support the other one or what they called it Bitcoin Gold because it is just a copy cat and another kind of Altcoin for me. The implementation of Segwit2x are for the good and improvement of Bitcoin itself and the Hard Fork is inevitable when upgrading such thing and with that I am not against because upgrading a wonderful technology just like Bitcoin is needed in able to withstand future problems that will occur. So the only thing that can do is support Bitcoin in every way that it will take.
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As per the question I would love to know how this community thinks about the upcoming hard fork(again). I am having a lot of doubts on how this goes. It seems that miners, devs or whoever push these types of things and resulting to lesser trust and some people are just happy with the free cash. I would love to hear your insights on what would happen to the price, development, etc. Thanks and have a great day.
No one really wants a hard fork, its just that there is a possibility of a hard fork when implementing Segwit2x so doesn't mean that the miners, devs or people wants it. This Segwith2x implementation is for the good of Bitcoin itself and with that I am supporting it no matter what because upgrading of a revolutionary modern technology is essential and it is a must. Whatever happens I will support the original Bitcoin as it is the original and the one and only. But there is still people who will choose to support and pump that forked Bitcoin Gold because they are thinking that they will make a profit out of it, let's always hope for the better improvements of Bitcoin in the next years and let the haters do their jobs in spreading bad vibes.
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I think for bitcoin to be a real currency, government have to accept it first.
So I ask what country do you think will recognize it as a currency?
All countries and its citizens can use Bitcoin since it was created and going around the internet because there is no rule that there is only a specific race, country or any other kind of identification to be followed when it comes to using it, that's why those people who are skeptical to it are always ranting about that it is a paradise for criminal to use in transacting their crimes online. Bitcoin is a real currency, a real digital currency and it has a big value right now though. There is no need for bitcoin acceptance to any governments in the world as it is a decentralize cryptocurrencies meaning it is not regulated by anybody. And I think there is no country will ever treat Bitcoin as their official currency because it is an international digital currency that's not created for serving a single nation or represent any country.
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So many discussions on trading, holding, mining, whats the right one? I can only speak from experience:
1. Mindset - First, you need to be in the mindset that public blockchains will change the world. In the future digital-cryptographic-based assets will be the most sought after of all asset classes. Once you get here, you are no longer frightened by the next negative news story or public condemnation. (if you don't believe this and can't stick to it, then perhaps this is not the space for you)
2. Start with Bitcoin, it should always be your primary holding. Once you get more comfortable expand into the other well known cryptos (ETH, LTC).
3. Set up a portfolio with at least 50% in BTC, 30% in ETH/LTC and the rest in perhaps 3-5 other cryptos that you believe in and follow. Make sure to do your homework as the risk goes up exponentially as you move down the market cap ladder.
4. Have a long term horizon, 5 years +, if needed trade out of your 3-5 positions back into the top 3 cryptos depending on market conditions, but never leave the market completely. 5. Figure out how much money you need to be happy, lets say $120,000 a year. If that's the case then you would need to have $3M equivalent of crypto in order withdraw an upper limit 4% a year. This way you have your cake and eat it too.
6. You can start selling your BTC when 4% of your holdings will give a retirement-like lifestyle, while at the same time staying vested in a top tier asset class. Don't forget about taxes, hold over a year and pay only capital gains.
7. You Win!
Did you already apply it to yourself? cause this is a wonder piece of advises. Actually investing with Bitcoin as of now is worth a try more than anything else as almost every Altcoins is very dependent on the price of Bitcoin even though some of this can buy now straight with some exchanges, when there is a FUD or negative issue about bitcoin the price of it suddenly goes down and the same goes to other cryptocurrencies it also follows the down trend of the market so it seems like bitcoin is the real deal in the growth of cryptocurrency as a whole. On the other hand it is so worth investing too to other crypto coins that has small value right now as it has a potential of a big growth in the future, it is all about trust and prayers I think when it comes to trading and holding cryptos.
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I've just been doing my daily crypto news reading and lately i've been seeing all positive news for BTC.
*Goldman Sachs CEO thinking about bitcoin *Japan accepting more bitcoin in retail and starting more exchanges *IMF chief says bitcoin and virtual currencies could be the future
So im pretty confident these all contribute to the recent increases in valuation and with the steady growth of bitcoin adoption over time it seems like there is nowhere to go but up. Do you think now still a good time to invest or has the news already been priced in?
Exactly! that is what I am believing since I started doing this Bitcoin thing, FUD's are everywhere and you can stop it no matter what you do especially when people started to panic sell their holdings in bitcoins that will really affects the price. Last month there is a FUD's about this Jamie Dimon and China and bitcoin's price really reacts to it because of people that did the sells. And right now it is slowly climbing again because there is no concrete proof that the said issues is affecting Bitcoin, there is an another event that will surely affects bitcoin's price and that is the implementation of Segwitx2 and I am sure that there is an another shake in the price of it and there is a tons of FUD's will be spread again, it is just a matter of trust in Bitcoin and believing what is true or not.
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We can't take away the fact that there is a group people trying to manipulate the price of Bitcoin and any other kind of currencies in the world as it is a profitable way for them, it is just that many people believe it fast and act so scared and started to sell their holdings without even trying to clarify if the said news is true or not, even the world's most reliable media networks can report some fake news cause there is no perfect in this world. If you really trust the future of Bitcoin there is no need for you to doubt it as every now and then it always stays strong and keep on upgrading for the better good. I am holding the days that bitcoin's price plummeted and I don't even bother with that because I believe that it will be bouncing back soon and it really happened.
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bitcoin cannot replace currency in the world because price is not stable.
currency should be more stable.
you may reply me. currency is not stable also but you should think
USD currency price is up and down 1-2% in 1 month.
bitcoin price is up and down 20% in 1 month.
what will people think if they just change USD to bitcoin then their money down 10% in 10 minutes?
bitcoin can become stock but cannot become currency
I think Bitcoin is not replacing Fiat currency, it is representing as digital currency in the digital world it just happen that it has have value of USD because people invested in it using that Fiat currency and we all know that USD is the medium of the world currencies. I believe that one day bitcoin will reach the stable price of it, it is still on the developing stage were people is so hype up to invest in it resulting of too much volatility. I am also not believing that Bitcoin will replace the Fiat currency in the future as Fiat represent ever each countries identity and economy so replacing it with bitcoin is so impossible to me.
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Unlike numbers on a bank account, which represent legal liability of the bank and are backed by the collateral of specified real estate or other debt instrument that a borrower offers as a way for a bank to secure the loan, the numbers on a bitcoin address are completely void of any legal liability since software that creates them is not a legal entity which can have legal rights and obligations.
So basically, people are paying huge amounts of money to get some empty numbers which are then recorded in a public ledger on the internet. If nobody wants to accept these numbers in exchange for dollars, goods or services, they are as useless as a random number that I write on a piece of paper.
On the other hand, since dollars in a bank account are bank's liability, if nobody wants to accept dollars in exchange for goods and services, they will be settled over time through the legal system by transferring real assets from those who have received loans from the bank, since loans are secured by the collateral of specified immovable or movable property and they represent bank's assets. This comes from the fact that obligation to repay the debt would not vanish if nobody wants to accept dollars. Since the borrower received real assets for its dollars, in the absence of dollars the borrower's debt must also be settled by real assets. Alternatively, since dollars that are in circulation were exchanged for goods and services by some borrower and since he is obligated to repay his debt in dollars, if nobody wants to accept dollars the borrower is the one who is forced to accept them in exchange for goods and services otherwise he is unable to settle his obligation to the bank. Besides being backed by borrower's collateral, dollars are also backed by banks' capital and the ability to pay taxes. As we can see, dollars on their own, have real measurable value, just like goods or services.
Bitcoins on the other hand, don't have value on their own, and if nobody wants to accept them in exchange for dollars, goods or services, no legal action can be taken by their 'owners' to get some kind of value out of them. As such, Bitcons are just empty numbers on the internet, which means that people are exchanging real values for literally nothing.
Good luck to your opinion though but I just withdrawn with my Bitcoin into my Fiat local money amounting $1000 yesterday and I guarantee you that it is not an empty numbers because I am now spending it with my things and food. This is a modern technology digital currency and we are here in the digital world so I think it is necessary to have it, they are still haters that really can't accept that fact. Bitcoins as of now when I am typing this is backed up by $72,987,343,018 and with that I am confident that it has a value and not an empty numbers because it is full of numbers that resulted of billions. It is true that Bitcoin is not tangible but it has a value right now even you deny it all day.
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https://finance.yahoo.com/news/paypal-ceo-expensive-poor-221202508.html PayPal CEO Dan Schulman wants to make it easier for people, including those who live outside the financial system, to manage and move their money. “There’s a saying that it’s expensive to be poor,” Schulman told Yahoo Finance in a recent interview at PayPal’s San Jose, California headquarters. “You want to cash a check, send money to a loved one, get credit, even pay your bills. For those who are outside the financial system — and there are over 70 million adults in the U.S. and over 2 billion people in the world — those basic consumer transactions can be incredibly time-consuming — you stand in line for 30 to 45 minutes — and very expensive.”
While the dollar costs of executing a financial transaction may seem reasonable for most, they can be quite high for those with very little income.
“On average, an underserved consumer spends 10% of their disposable income on unnecessary fees and interest rates,” he added. “So democratizing financial service is basically saying the following: We want managing and moving your money to be a right for all citizens, not just the privileged, or the affluent.[/b]” Sound familiar? ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) He already scared with Bitcoin since he banned the transaction between it because he foresee that Bitcoin will take over what Paypal does for so how many years now as a one of the first online payment platform in the internet and the whole world, even me is a paypal user back then and I experience a huge minus in my original money there because of their fees and an unreasonable converting fee rate from dollars to my local money. I just did a little research and I found at that the market capitalization of Bitcoin is now bigger than Paypal considering that Bitcoin is younger that Paypal when it comes to their existence, this shows that how strong is cryptocurrencies now comparing to the old school payment platform.
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What are you guys predicting will happen before/after the next fork?
I read someone saying that the other coin that will be resulted of the incoming fork is named 'Bitcoin Gold' and he already explained what to do in able to get it and the precautions of what to be done. I am open minded with this incoming Segwitx2 as it is for the better good of Bitcoin itself and not for a single purpose only, Bitcoin needs an upgrade it just happen that a possibility of forks will may occur, let those weak people sell off their coins and naysayers say what they want to get the price of Bitcoin falls down but I really trust the potential of Bitcoin.
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Bitcoin is not money. Sure it can be used as a form of digital currency, but at its essence, Bitcoin is a private and secure store of value that is protected from inflation, government programs, robbery, etc.
Bitcoin is more like Gold in the sense of how it is hoarded and perceived, only it is far more fungible and transportable.
A different cryptocurrency will eventually become the new form of "money" as we know it.
Just know it won't be Bitcoin - this shits even more valuable.
'Bitcoin is not money' really? Bitcoin is a digital currency and it is a form of money digitally. I agree to the much secure store of value if you really secured it by yourself with doing all the necessary things in securing it. Bitcoin I think is far from Gold as it is a digital currency that is tangible and the main purpose is to serve as a money to buy and sell things through the virtual world, Gold is valuable because since the first civilizations of people they look it as a wonderful piece of mineral that satisfy their naked eyes and that for me is very far comparison with Bitcoin. You know nothing in the future and even me knows nothing in the future, you don't have a proof that will back up your claim that there is a cryptocurrency that will take place Bitcoin, it is just a conspiracy.
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Who is behind Bitcoin Gold? This is the first time I am hearing such a thing.
I guess 2017 will be known for its multiple chain attacks against Consensus?
Well it's already known for this, so why not just amplify it to the point so that we have multiple people trying to split off from the REAL Bitcoin. Seriously, I don't understand why people are doing this again. Bitcoin Cash didn't work, and won't work. Right now it's just a traded coin. This coin is going to be even more shit then Bitcoin Cash, which crazily enough amassed an insane amount of Market Cap. People have to get on the train that Bitcoin is going to be it, there will be some trading coins but they're never going to be gaining any real usage traction. Stay with Bitcoin and you'll be fine. I am not a profesional Blockchain developer or Bitcoin developer whatsoever but in my own understanding and opinion I think Bitcoin itself doesn't need a fork or any kind of a split it just happen that when you need to change a block size of it there is a possibility that a split may occur meaning it is not 100% so even though the developers won't want it to happen but they can't do nothing because a chance is a chance even it is 0.0000001% They are all doing this for a better good because Bitcoin needs to upgrade just like IOS, Windows OS, Linux etc. and moving forward is not always perfect it will tackle different kinds of problems along the way but when the trial is done then it will make Bitcoin stronger more than ever.
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New members please stop applying as I have mentioned in my last posts that I won't be accepting any new participants.The participants who have been accepted before that is if your name is on the spreed-sheet,will be paid by the end of the week after validating their posts.
I thought that this campaign is not proceeding in the 2nd week because there is no 2nd sheet and reply from yours, why you just replied now. I am a twitter participant by the way, hope for the 3rd week though.
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I like to ask if there is any correlation between bitcoin and festive seasons. For instance, I understand that during major festive season, just as Christmas is approaching, the exchange rate for paper money especially dollars,euro and pounds exchange for local currency usually increases to the favour of the foreign currencies. So my question is, do that happen that bitcoin also increases in major festive period? Like Christmas....
For me I think it will affect the price of Bitcoins and other cryptocurrency coins as I witnessed myself the increase of price of bitcoin after the Christmas and New year in 2016, after the thanks giving and following of the Christmas and New year the price of Bitcoin is fluctuated in $1000 mark and it is a good start for it that is resulted for today's price. When there is an event to celebrate of, people tend to spend much more compare to the months that there is no big celebrations is happening, so for me it is a big factor also for cryptocurrency market. I am not so sure about this but that is what I think and witnessed last year I hope that it will happen again because a good start of a year will surely affect until the end of each year.
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I've started recently reading A LOT about blockchains and cryptocurrency. Do you really think that this is the technology that will finally disrupt Wall Street? After China and South Korea banned the ICO's (and cryptocurrency in China) I am still sceptikal. What do you think and how can we achieve it faster?
I can't say that it will really happen but in what I am seeing right now and feeling is that Bankers will be vanish soon or maybe going on a downtrend because of this cryptocurrency thing that is emerging if they will not adapt the potential of the blockchain technology then they will be left behind in the future, but everything can happen maybe they will talk to the powerful people that will fight against cryptocurrencies or they will just join the growth of it. We can't decide to what will happen in the future, let's just hope and wait for the good thing to happen.
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Because the price of bitcoin is not only speculative, but also objective, it increases as investors increase. To Price retreated to the previous level, it is necessary that there was an event that will significantly reduce the number of users, ie, will get rid of bitcoin. While such events on the horizon can not be seen, the upcoming hardcore does not attract such an event. Significant drawdowns are possible and will be, but not global level.
Yes it is, anything is possible in life and with Bitcoin but when you are talking with rollback now maybe it will happen and maybe it will not. We witnessed the rollback last month about the issues with China regulating some things in cryptocurrency world and that Jamie Dimon the CEO of JP Morgan that spread FUD's about Bitcoin and the price of it almost reach from almost $5,000 to $2,900 low. I think if Bitcoin will not fork this coming Segwitx2 then I can say that it is positive for an another massive increase in price because we see the changes when the August 1 event happened, the Bitcoin price pumps from $2,600 to $4,000.
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Possible or not if bitcoin users increase, china will no longer able to control bitcoin market. i see china market always try to dump the price even other exchange want to the price keep rising.
I think there is no bad intentions here regarding with Chinese people or China itself in controlling such market things in cryptocurrencies, it just that happen that many Chinese people tend to invest earlier with crypto and at the same time they represent a big amount of miners in the whole world and with that we can't do anything because it is their choice more than other races and countries. If they wishes to control it then they must be unite as there is a massive amount of money and crypto that is required in really controlling the market. There is no concrete evidence that a single country are controlling the prices of the market, it is all speculations and conspiracy only. Anyone can really tell what is their opinion in everything but I only believe to those that can show a solid evidence that someone or a group of people is controlling the price.
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