Bitcoin is a digital currency that is fast, secure, decentralized, and which also has very cheap transaction fees. Bitcoin has no border from one country to another that is why it is accepted all over the world. Based on all these aspects, do you think bitcoin has a role to play in the future? Share with us what you think? thanks  Based on what I am seeing now, I can clearly say that bitcoin will play a very big role in the future. Not omly because it is owning right now but because the age we are currently living now is digital which means it will absolutely bring great convinience if bitcoin will be declared as the future currency in the future. "future currency in the future", I like that  Bitcoin is great, but just like the banks, the real innovation is blockchain technology. Bitcoin will never be adopted as a national currency; this would be the swift end of said nation, especially if bitcoin is in the state that it is currently (entirely too fucking volatile). We can't have the US coffers fluctuating by 40% overnight; our creditors would have strokes  Bitcoin, like the abacus, was a first iteration. Do we still use the abacus? |
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So like most of us I wish I had had the time to notice bitcoin in its infant stages, I had the technical expertise and IT knowledge to mine when it came out but never knew it existed.
I wish while I did know about it that I had put the $3-600 down to buy one coin even last year. rather than slowly piecing together 1 coin right now.
is anyone in the same boat?
From those of us that were here when bitcoins were 90 USD, yes, we are all in the same boat.  No matter how many bitcoins your purchased when they were cheap, given what the price has done most sane folks probably wish they had purchased more. There was no way to anticipate all this growth. Tbh, I don't think its sustainable, but thats a different thread But there is hope. Bitcoin is the prototype; there are myriad other coins with the potential of bitcoin, if not more. The key to success with BTC was early adoption. Meta, this whole scene is still quite bleeding edge. Look for the next bitcoin |
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The quickest and most painless method is via a bitcoin/eth denominated (I use the Shift card, courtesy of Coinbase). You can withdraw up to 300 USD equivalent a day, but if you use cashback, you can use the card's 1000 USD daily limit instead as cash. This is a PITA; you will visit at least 4 or 5 stores minimum to complete this task. So for bigger money, you are best off using an exchange that allow direct deposit to fiat (most real ones) or use LBC. LBC is cool up to the reporting requirements; after that, you will have to explain to someone what the hell you are doing with all that cash;)
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Interesting & good points, OP.
There are many who support eliminating paper fiat and switching only to electronic based transactions. I would guess puerto rico would have been no better off as a cashless society. Puerto Rico's main issue could be poor leadership, having no viable plans for dealing with hurricanes despite being in a high risk natural disaster area and this being the season for large, powerful, storms.
With a decent proportion of infrastructure and electrical sources demolished, there may still not be enough infrastructure devoted towards precious metals, gemstones & other valuables having utility in markets. A person could have 100 pounds of gold stored in their basement in puerto rico and they still might not be able to use it to buy or sell anything. Precious metals need more mainstream acceptance & utility if their value is to increase.
Yes. Op is taking an exceptional situation in a poor country as if that posed a real threat to bitcoin. If an atomic bomb explodes and you are the only survivor, bitcoin will be useless but so will cash and gold be. We are heading towards cashless societies, some countries like Sweden are almost there. Even beggars collect alms using payment terminals. Do you think, OP, that they would be better in a situation like that? Not so exceptional. The level of devastation in PR is amazing and rare, to be sure, but there are other islands that were affected like this, this season (total ruin of infrastructure). These societies will be functioning off of cash for quite some time; cashlessness required a certain level of infrastructure that is not present everywhere even before a catastrophe. We should never be cashless. Fiat simply is not the same; it is the quickest and safest way to make small informal transactions that is known to man to this date. This is why we have used cash for so long. Even specie works better, given there is less infrastructure required than any electronic cashless payment medium (there are some not electronic payment mediums that criminals have developed; its an interesting read). I have lived off of cryptos for the past 3 years or so. I have possessed less than 500 USD cash at any given time during this period. It fucking sucks. I only do it because I have gained massive value by doing so; it is actually quite a pain in the ass. Try not being able to spend money on food for 2 days because your bitcoin debit card's site is under maintenance And try not being able to survive for a week because you need a replacement debit card in the mail. And e payments to beggars seems silly to me. Give them food and resources, not fiscal value. |
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seems to me that puerto rico is in a plenty bad situation even though they are not currently on bitcoin.
being on bitcoin would provide some helpful side benefits such as seeking information from the internet instead of from the television in a case where it could pay to be better informed about the world. possibly having a better chance to have evacuated.
having the timely information and resources in puerto rico, the best decision would have been to evacuate.
For the unfortunate ones who are stuck in the bad situation, it is a time for the community to come together and help each other without regard for expenses. this is an alternative incentive.
If the whole world suddenly becomes like puerto rico all at once fiat or gold wont save you. you will have more pressing concerns than your wealth.
Concur, that economy was a shitshow prior to Maria. But, this raises a valid side point; for all the warning in the world, who had the means to actually leave the island? Consider. I live in the good ole US of A, and apparently the majority of my countrymen can't afford a $500 emergency on average. http://money.cnn.com/2017/01/12/pf/americans-lack-of-savings/index.htmlNearly six in 10 Americans don't have enough savings to cover a $500 or $1,000 unplanned expense, according to a new report from Bankrate.
Only 41% of adults reported having enough in their savings account to cover a surprise bill of this magnitude. A little more than 20% said they would put it on a credit card, the report said, while 20% would cut their spending and 11% would turn to friends and family for financial assistance. So if you live in an economy that has essentially been failing for a decade, this prospect of relocation as a solution probably becomes much more distant. A ticket out, at peak traffic, would have cost a fortune. And thats only one soul in a seat. If you have a family, this quickly becomes to expensive for the majority of working people. |
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I would be in favour of a voluntary declaration of a Bitcoin address, to be able to prove that some Bitcoin transactions really happened.
WHAT?!?! This goes against everything bitcoin stands for! You should just use fiat. Bitcoin isn't for you. Why? Blockchains are there to prove someone sent you money. If you get an advantage proving against the State that someone (e.g. a legitimate business) sent you money and NOT another one (e.g. a scammer/hacker/money launderer) then I see nothing bad if the state gives you that opportunity. If this opportunity does not exist, the state could simply suppose you've received "not legit" money and order a raid. Would that be better? All that said, if you're using an exchange you don't really own a bitcoin address, you lease one. And the exchange owns it.
I've never mentioned an exchange. What has to do that with the topic of this thread? But the government should trust that you're going to declare taxes and if they find out you aren't paying you should get penalized.
Completely right, but that is not my point, see above. I wrote about a strictly voluntary possibility. Agree with d5 partially. Im down for a voluntary submission, not a mandatory submission. I understand that this is money, and that given some of the constructs that exist in our society, it is wise from a societal good standpoint to monitor the movement of large amounts of money. In that spirit, I would even be down for a mandatory reporting requirement on x funds (this is pretty much the case as it is, most of us simply ignore this because it is rather hard to enforce with crypto). But I would rather comply than have my shit kicked in by the Feds. Essentially, people, you are at the mercy of your government. If they say a thing is not so, it no longer is. If that is a hard pill to swallow, moving should be a consideration and no, its not fair. |
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No one bit  I really wanted to hear some community thoughts on this, we have a lot of "bitcoin is god" folks and I love to pop that bubble  |
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Hey board family Looking for a good signature artist that is able to produce a signature for the 1World Online ICO. Please post your portfolio and rate, as well as turnaround time. If you are willing to accept the 1WO token (very legit project, check it out), I can offer better rate. Thanks in advance! GB More about the project, and an example of the colors/style you would be working with: https://ico.1worldonline.com/ |
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How many more weeks are left in this ICO? 50% plus is pretty decent, unless it ends next week |
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Exciting project! I would rather get my credit card rewards points as crypto any day. And if the price of cryptos goes up like it has, my money will be worth more than it was. Good idea Question: Will this work with points you can earn at gas stations and grocery store? It would be really cool if this did. We appreciate your interest! This will depend on the partnerships we establish; while the team is in negotiations with major financial institutions, the functionality you have described is planned for later down our roadmap. Please stay tuned to this thread for updates and information about our project! |
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Changed the translation camp to a stake based system (more than one translator requested this feature). If you have already submitted your translation, I will release a spreadsheet soon with your updated stake count. We are still looking for the majority of the languages in the first post; translators, please apply, we appreciate your contribution, and will reward you handsomely! Thank you again bounty participants! |
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Press Release: https://www.theinvestzone.com/2017/10/10/an-interview-with-todd-nichols-of-asset-token/An Interview with Todd Nichols of Asset TokenOct 10, 2017 Q: Tell us more about your team! Do they all have background of crypto?
Dennis Lyon is our tech advisor and person who created Asset Token. He is an Inventor. One such invention that he never patented was the IPhone. The attorney recieved the document but it was never filed as a patent. Another Invention was called the Identity server. A system that allows a trusted source to pass trusted personal information and login credentials. This identity system is now today called Facebook or the specific part is the Facebook connect technology. Asset Token was invented by Dennis because he felt a Token is A Token and it needs practical use as one and this is known today as Asset Token.
Andrew Stanford –Andrew Stanford has a deep background in business and finance. Is very expertise in acquisition and all his companies have made the Fortune 500 list over the last few years.
Paul Gerstenberger – Gerstenberger is an inventor/serial entrepreneur with more than 35 years heading companies from high tech to consumer products. He holds several patents and pending and has been heavily involved in the high tech industry since the early 90s.
Q: What inspired you to do an ICO?
We believe ICO is an Industry FAD name and does not apply to us. We are offering a Token however the funds are not needed since we are already funded. We are focused on Sales and adoption since we have a working product. We believe the application of the Rewards Point is the most practical solution that works with the current state of blockchain.
Q: How did the idea of Asset Token come about? Is this something you were doing before?
The question of what can you do with a Token? Asset Token is the perfect name for a Token that is utility and owned and has real value. We asked ourselves why do you need a token for social media, Cannabis, file storage and so on. It simply doesn’t make sense to us but that is our opinion. These solutions exist already in the world and are not current problems.
Q: What is the cap for your ICO and how did you come to chose that number? What do you think of unlimited ICO’s? How much money is too much money to be raised in an ICO?
We have 1 Billion Asset Tokens. 30% which is for sale publicly. The rest for the Banks because they need them. 1 Billion is enough to spread amongst every bank in the world if every bank decided to deploy asset token. Whatever is not sold publicly is then locked until a bank buys them.
Q: If you successfully crowd sell with your ICO, where will your company be based?
We are based in the United States California.
Q: To what level of scrutiny do you feel ICO’s should be held to?
Its hard to say since trust in a company is earned over time.
Q: Do you have a background in conducting due diligence on crowdfunded projects?
No.
Q: In addition to cybersecurity, what do you feel must be understood when performing due diligence on cryptoprojects?
It boils down to the people involved and how well they will execute and stand by their product and words.
Q: What is your “bird’s eye view” of the blockchain industry as a whole. From what you’ve seen, what aspects of token crowdsales could be improved?
Right now I see it as a medium for innovation. I think the industry will regulate itself at some point.
Q: You’re clearly very passionate about the crypto space! Which projects are the most exciting to you?
We like Cobinhood because of there free trading platform. We like Monaco card, Tenx and Centra because they are making crypto interoperable for use.
Q: What kind of blockchain projects would you like to see in the future?
Hard to say at this point.
Q: What current proof of concepts has Asset Token completed? What projects are in the pipeline?
Asset Token is ready to go from a Technology standpoint. We are not currently working on and other project at this point.
Q: What’s in the future for Asset Token?
Asset Token will become the Global Standard for Rewards Points.
Q: Have you talked with any exchanges about their interested in enabling trading of your Asset Token tokens?
Yes however we are currently eyeing one.
Great, thank you Todd, I appreciate your time and I will be watching the crowd sale intently.
Thank you for the interview.  assettoken.io
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Seems like a great project! Expansive and experienced team with a working product (because for some reason, thats a rare thing nowadays) and they have actually been around for a while, outside of the cryptosphere. really nice partnerships too.. with all the bull floating around at the moment, this is one of the few things with teeth |
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Awarding 5 bonus stakes for the first weeks participants, early adoption counts people! If you havent taken a look at our campaign yet, there is still low enrollment and opportunity for huge stake rewards! |
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Very much possible !!!! Banks have to be made a viable mode for accepting and exchanging bitcoins instead which would definitely be a better way to make major of the digital currencies in reach. The main reason why they both cant work together would be that digital currencies arent controlled by anybody whereas the banks are controlled by regulatory bodies. Definitely it would be a good idea if they both work together which would boost the economy resulting in major investments diversified. Still would wait for the future and see what we have in the store.
Not so optimistic. Banks will surely adopt blockchains, thats a work in progress. But im not so sure about bitcoin itself. There are already more "regulation friendly" coins that banks would more quickly adopt. bitcoin is slow, cumbersome, and entirely too volatile to function as this. the trust, in my opinion, is really the only thing keeping bitcoin afloat at this point. and the forks are doing alot to undermine that. we need to get it together, or we wont survive. |
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When they say Ethereum can not handle x amount of DaPPs onchain and they need offchain solutions in order to scale, does this mean running another private chain in conjunction with Ethereum like Fabric?
there are programmatic means of off chain transactions being added into the ETH network. state channels are the most promising, imo. State Channels are a design pattern in which signed messages representing transactions
are exchanged between two parties. Any party can choose at any time to broadcast the last
message to the blockchain, updating it to a state representative of the sum of all exchanges
between the two parties.
State channels are an important technique for allowing some blockchain operations to be
conducted off of the blockchain, while retaining or even improving the underlying security
guarantees that a blockchain offers. Raiden and Plasma also address this. |
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I always get a good chuckle when I read the "is bitcoin better than gold" themed threads, or "will bitcoin replace fiat"? the answer to both of those questions is conditional; gold in my book just works better as a long term store of value, respective of security, utility and liquidity. bitcoin wont replace fiat because fiat has unique advantage, being an ultimately liquidable bearer bond. Puerto Rico is a prefect example of some of the issues with adopting bitcoin as a major currency. There is no electricity in the majority of the territory. Bitcoin, being digital information, certainly requires electricity; assume that no one is mining, running a node, or making a transaction. In this time of crisis, cell traffic is straining capacity. if you do have power and a source of connectivity, you would have a deal pushing out a transaction. no one in there right mind would accept bitcoin for a vital good right now. people are waiting in lines for hours for the promise of gas, there is no way in Hell a sane body would accept value they might not be able to use themselves. it be like getting a paycheck in diamonds; once you figure out how hard it is to convert diamonds to "bill payin" money, you will quickly opt into direct deposit banks are restricting capital withdrawals, and have limited hours. even if you were able to use a local exchange system like LBC, if you need a bank, you are fucked  thoughts? |
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In case of nuclear war weapons, supplies and meds would be worth something. All virtual things, like bitcoin or the money in your bank, would be worth nothing.
I invest in bitcoins because it is the most profitable among the options I have, as any rational person would do, but I know the risk of it being worth nothing at any moment.
Of course maybe there is some correlation, because most people aren't rational
Thats the irony of a "safe haven" virtual asset. I thought safe haven meant "safe"; that is the security possession of the asset provides in lieu of the asset you replace. bitcoin is neat and all, but you cant eat a goddamn bitcoin, ive tried Thats why I dont really understand paper gold, except for purely speculative purposes. even with the liquidity of gold (its not the best), id still rather hold something in my hand that I can trade for something vital, in case we end up in "Mad Max" times. You dont even need a war. Take Puerto Rico for example. bitcoin isnt too useful there, atm. in fact, gonna write a different thread about that |
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Bitcoin ecosystem today is far from friendly. There are tons of scammers everywhere, one can mistype an address and lose money, put a wrong GAS amount and lose money, forget private key and lose all money.
What we as pioneers should focus on is user experience: new people should feel more friendly when start using Bitcoin. The interface of the apps should be more intuitive and less scary. We should create an ecosystem with a strong scam defense.
Newcomers got used to smooth experience working with bank apps, they feel secure talking to their accountants and support managers. What my non-tech-savvy relatives feel when they start working with Bitcoins is "WTF?".
Without a UX breakthrough, Bitcoin will remain a toy for geeks, not a product for masses.
Mistype an address?There is a copy-paste function in every computer.Do you write your bitcoin addresses character by character?If yes,i`m pretty sure that you will type the wrong address.People just copy paste the bitcoin addresses. Forget private key?You should have to write down your private key and keep it somewhere safe.Is this so difficult? "Scammers are everywhere".That`s why i don`t trade with people without any big positive feedback from other traders. I don`t have any problems with the bitcoin user experience.All the newbies whould learn. YES. You would be surprised to understand how long the common denominator is. if you saw some of the support tickets that people sent in, you would laugh, and wonder how they even discovered cryptos in the first place its not so much that its hard, then the fact that if you mess up, you can lose significant value permanently. the level of technical sophistication breeds opportunities for folks to fuck up; Facebook is popular because it take all of 10 minutes to familiarize yourself with it to the point of using the majority of its functions. I have been using cryptos generally for years now, there is plenty of stuff I understand but dimly, I have made many, many transactions. Dude has a point. Bitcoin kinda feels like DOS atm. |
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Green here Just wanted to ask, how many of you here actually use bitcoin as a safe haven asset, particularly against the USD? I always see the price uptick a bit (considerably, sometimes) when Trump starts tweeting about NK, the imminent threat of actual conflict with another nuclear armed country does something magical for the price. But this seems like a pretty mature strategy; most of the market participants here are anything but. So it puzzles me why the trend would reflect on bitcoin as strongly as it does (I understand gold and silver, these are the long established "safe have assets" of traditional finance. Is this an indication more traditional investors, and large ones at that, have taken more than an academic interest in btc? Thoughts? (the topics were bummy, wanted to talk about something legit) |
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