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4241  Bitcoin / Press / Re: [2018-05-01] Roger Ver’s Bitcoin.com no longer labels BCH as the real Bitcoin on: May 01, 2018, 06:07:25 PM
That dude has serious mental problems. Bitcoin made him become what he is today, and he is trying to tarnish it right now, that's a solid sign of being an evil minded jerk. Forking Bitcoin is something that anyone can do, and it's all fine, that's the freedom you have, but this is just disgusting. He abuses what I consider to be one of the most powerful domains to trap in people not understanding what's going on.

Right now when I visit the home page of that site, it shows;
Quote
Featured

What Happened to Bitcoin?

The Bitcoin Core (BTC) network is in trouble due to high fees and slow transaction times. Bitcoin Cash (BCH) is the upgrade that solves these problems.

They try to create confusion by stating; learn Bitcoin, explore Bitcoin, etc. If you click on the links, you are being moved to BCash garbgage, and that while they in some sections of their site differentiate both coins by calling them Bitcoin Core and Bitcoin Cash. They need to rework that entire site to no longer put the term Bitcoin there where they refer to BCash.
4242  Bitcoin / Bitcoin Discussion / Re: Do we really have financial privacy and anonymity? on: May 01, 2018, 02:34:02 PM
Mixers like ChipMixer give you private keys already loaded with funds to import. In this case, It's not possible to know whether these funds were redeemed or not unless you spend them so one should keep an eye on these address all the time as you could import them and spend them one year later.

That. Important, but actually risky since it all depends on trust, is the fact that you could even just choose to exchange the private keys that ChipMixer loaded itself, which basically means that the funds don't ever have to move on-chain, and thus there is no way for an external party, or even ChipMixer itself to know who owns what. Similarly, that's what I like about the loaded physical Bitcoins as well. It means that we don't even depend on internet to transact with Bitcoin, which makes it an even more powerful tool.

I still regret not having bought a couple of physical Bitcoins when the price was way lower and the premiums were affordable. Times are changing fast. Smiley
4243  Economy / Speculation / Re: Warren Buffett on buying bitcoin: 'That is not investing' on: May 01, 2018, 02:15:16 PM
Did he say that to Soros though? because there are news circulating around that Soros finally decided to invest on crypto, why did he change his mind?
Soros has only shown his interest, but that doesn't mean he is actually going to invest in crypto. Also, he didn't point out how exactly he is planning to invest in crypto. It could very well be that he is only going to invest in financial tools tied to crypto, which a completely different division. Don't forget that most of the similar investors aren't interested in crypto itself (and thus very likely won't bother to buy crypto directly), but just the exposure it offers, and that exposure is something they can obtain through these financial tools as well.

I don't have any idea but Warren seems to stick with his notion that bitcoin will suddenly die down but so far we are still alive and breathing.
The far majority of the traditional farts were like that in the very beginning, but it's slowly turning with how even a lot of the early day skeptics and naysayers are now seeing the benefit of today's crypto currencies, and especially Bitcoin. It was the same with how the average joes were thinking about Bitcoin. They ignored Bitcoin when it was just $200, then ignored it at $500, then $1000, then $5000, etc. In other words, their believe of Bitcoin being something that will instantly vanish or become worthless, loses significance overtime with how this ecosystem and the market develop themselves.
4244  Economy / Speculation / Re: Price Prediction on: May 01, 2018, 01:58:49 PM
Market are reflecting that there should be an increase in the price. What your prediction ?

The market reflects consolidation, nothing more. It's impossible to expect a further increase without there being an actual bullish indicator in form of a happening or event. It's pointless for the market to even attempt to test $10,000 currently, so it's better for everyone that it doesn't. Right now it's either 50% chance to go up, or 50% chance to go down. It's practically impossible to say anything other than that, because the only thing we can do is guess.

Don't forget that consolidation is always better than a decreasing price, so people shouldn't get bored or annoyed when the price isn't going up. Be happy with the relative stability and try to utilize it by using Bitcoin as currency, because that's what you guys want right? Once there is volatility people complain about Bitcoin not being a proper currency, well, here is your stability, capitalize on it.
4245  Economy / Service Discussion / Re: Best Cloud Mining? on: May 01, 2018, 12:17:21 PM
It's purely the potential of generating Bitcoin income in a passive way that makes them go wild, because let's be honest, who doesn't want that?

Chasing passive income is what we all want, but just reading the terms and calculating forward the averages of all the involved variables, would directly point out that people aren't going to benefit at all. Technically, the only way to keep mining with the same initial investment is to reinvest your earning, which means that directly after every reinvestment, you have to start earning from scratch again.

In other words, you give the service back what they allow you to have, which is what they hope for, and it works since most people end up reinvesting their earnings. People just need to understand that there is no such a thing as earning money or Bitcoin like water without doing anything for it. If that was really the case, these services wouldn't need sell contracts or shares, but just keep the revenue it would be generating strictly to themselves.
4246  Economy / Service Discussion / Re: Cryptoadex - The New Bitcoin AUTO CryptoTrader System! on: May 01, 2018, 12:05:01 PM
Hello Investors,
What you actually mean; Hello dumb ass fools.

Today we joined a new piggy bank project: CRYPTO ADEX
What you actually mean; Today you join a new piggy bank project, and tomorrow you are broke.

HOURLY INCOME 4 48.5% FOR 6 HOURS
MIN 1.01 BTC - MAX UNLIMITED BTC
Seriously, people are far better of just putting all their money on red or black where they either double their money instantly, or lose it. Benefit of losing in this case is that you don't fill the pockets of a bunch of scammers, and don't incentivize them to keep running longer which results in more victims. Anyone putting money into this rubbish instantly loses his/her right to complain.
4247  Economy / Trading Discussion / Re: Japan’s Licensed Crypto Exchanges Launch Self-Regulatory Body on: May 01, 2018, 09:59:06 AM
We all must appreciate this step and that this will also encourage other governments to take similar steps in future.

It's a good initiative from the exchanges themselves, but it only helps till it doesn't help anymore, and that's just a matter of time. The thing is that even with how tight everything is already set up, and will be set up in the future, those who plan to perform inside theft will still be able to do so. It only requires them to become more creative, but they'll find a workaround if needed. It's a lucrative practice if you take into consideration that exchanges hold tens (some times hundreds) of millions worth of crypto value in their wallets.

I am more a supporter of less centralized exchange usage, and more their decentralized equivalents. People don't think about it, but these crypto exchanges are exactly like banks; they hold the majority of the funds, which is quite ironic if you see how people keep saying they want to avoid banks and whatnot. It doesn't matter who or what entity has control over your money and coins, you aren't the owner anymore and completely depend on their mercy.
4248  Economy / Speculation / Re: Russia - the internet belongs to the Americans, but blockchain will belong to us on: April 30, 2018, 08:21:19 PM
I am all for it, keep your centralized garbage with you. Bitcoin is everyone's money and protocol, which is exactly why it will grow out to be an ultimate safe haven and sign of freedom. People don't yet appreciate and realize how powerful Bitcoin is in that regard, but that will come once people more than ever are trapped inside this rotten system.

Country bla bla claims this, country bla bla claims that, country bla bla claims the moon, country bla bla claims mars, etc. It never ends. Bitcoin is that one thing they can't and won't be able to play with, which is a victory for everyone valuing freedom and the right to actually own something that isn't subject to all the defunctional variables the regular system exposes people to.
4249  Economy / Economics / Re: Blockchain Not Just About Bitcoin on: April 30, 2018, 07:48:47 PM
They are definitely looking for a centralized blokchain. They don't want decentralization.

They like the decentralization aspect, but only to a certain extent. That extent is that there is only one single authority (they themselves) being able to modify block data, where malicious modification attemps by hackers and wrong intended individuals and whatnot won't stand a chance. The only thing is that we don't know how wrong intented the single authority is that can modify block data whenever it feels it needs to do so, which is why I never trust these initiatives. Centralized parties aren't trustworthy already, and that won't change when they shifted over to the blockchain completely. If it isn't completely decentralized and thus immutable, it aint good.
4250  Economy / Economics / Re: Bitcoin x banks on: April 30, 2018, 07:16:54 PM
As bitcoin is still in its early stage, it must be too early to expect bitcoin replacing traditional banking system. But, it will happen how traditional mail communication was replaced by phone and email.

Bitcoin doesn't need to replace the traditional banking system, because that's just impossible since banks and governments can progress through crypto just as much as we do. The thing here is that we shouldn't focus on what banks do, but on how we can shift away from anything that's permission based. Banks don't care about their customers, and we in the same way shouldn't care about them. It's time to move forward.

In the same way I also would like to see people move away from centralized crypto exchanges and online wallet providers. In some cases they do offer convenience, but what's that worth when you are subject to so many rules and regulations? The only thing that's difficult to combine with decentralized exchanges is fiat. Currently you can already deal with fiat on decentralized exchanges, but the trades from fiat to crypto and vice versa are not decentralized, only crypto to crypto trades are.
4251  Bitcoin / Press / Re: [2018-04-30] There’s Only Four Million Bitcoin Left to Be Mined – Here’s Why on: April 30, 2018, 01:33:51 PM
Bitcoin's supply is actually limited, but there are different ways to look at things.

In reality one Bitcoin doesn't exist. It's nothing more than a client side display of unit, where in reality you own 100,000,000 satoshis.

Different client side units;

BTC; 21,000,000 units total supply.
mBTC; 21,000,000,000 units total supply.
Bits; 21,000,000,000,000 units total supply.
Satoshis; 2,100,000,000,000,000 units total supply.

People often say 21 million Bitcoins isn't enough for the world, but it won't take long before we shift over to smaller than BTC units for convenience purposes, and to allow people to actually own whole units instead of a tiny percentage of something. If you look at the different unit supply numbers, then there is plenty enough fish for everyone in the future. Smiley

Those who hold a minimum of 10BTC can call themselves satoshi billionaires.
4252  Bitcoin / Press / Re: [2018-04-30]News of Bitcoin (Prediction or Expectation) from ANTHONY CUTHBERTSON on: April 30, 2018, 01:01:22 PM
Most people still think gold is the best investment although many of us, me included, are trying to elaborate that Bitcoin is better than gold for the last couple of years if not longer.

Most people buying Gold don't really do that with the intention of making profit, but just to avoid seeing the wealth they have been building up in their life become worth less rapidly. It's more a hedge than an actual investment. If people compare profitability fields of Gold and Bitcoin, or basically any other traditional asset, there is obviously nothing that comes even close to that what Bitcoin offers.

Eventually, Bitcoin might become that what Gold is today, so it's not that Bitcoin will always remain as profitable as it is right now. Current Bitcoin increases are nothing more than a reflection of how thin and new this market still is. Gold on the other hand is probably the most liquid market in the world, which grants very large parties the option to either buy billions worth of this precious metal, or unload billions worth of it, and that without the market going nuts.
4253  Economy / Economics / Re: Can it be possible for the whole wide world use a single currency? on: April 29, 2018, 07:45:11 PM
I'm sure bitcoin must be able to dominate the world. all countries will use bitcoin as a legitimate transaction tool. but despite that. the world still will not be separated from paper money. because paper money can be made as a symbol or a sign of the country.

One of Bitcoin's main principles is that there are no borders it has to respect or abide by. It's one protocol that has no equal, and one that at the same time can't be stopped. It's pointless to focus on what paper money will be like by that time, we should only care about what matters for us, and that's slowly taking distance from dealing with fiat. Let countries have their paper money, we have Bitcoin, that's more than enough. In current times it requires only our smartphone to transact with others or buy our daily needs in stores. I could perfectly use Bitcoin as sole currency if it enjoyed more adoption and stability. Fiat is a mixture of state and corporation money, while Bitcoin is people's (everyone's) money.
4254  Bitcoin / Legal / Re: France to Introduce Lower Tax Rates for Cryptocurrency Transactions on: April 29, 2018, 07:19:17 PM
What's the point of owning coins you can't put to work legally because you have been avoiding tax? Think about it.

I get it that people have cold wallets that haven't been used for years, and also understand they don't want to pay tax over their coins, but at some point if you want to cash out or buy something, that's where the fun starts.

How does one explain where the coins came from.

That's actually a good question.

I have been holding a large part of my coins offline for years, and will very likely continue doing that endlessly. I know it may sound weird to some people, especially because of the fact that the general opinion is that why would you hold something that you will never sell, but that's my choice. I aim at the moment Bitcoin becomes an actual unit of payment and store of value, which it is already, but then on fiat and Gold level.

I don't want to expose myself to the potential risks of an imploding fiat system where my fiat wealth will be turned into dust. I have basically taken a life long hedge against the current system, and I'm very glad I did and do so. In other words, I don't look to cash out anything. I'll deal with the legal matters later when Bitcoin has grown to what I believe it is capable of. I have a seperate stash that I use for trading purposes on centralized exchanges, which I do pay my due taxes for. These coins I can put to work in any legal manner, so I'm not at all worried.
4255  Bitcoin / Legal / Re: Nasdaq CEO Adena Friedman said they are open to becoming crypto exchange on: April 29, 2018, 06:50:19 PM
The only thing that really needs to mature at this point is consumer interest itself. Most people still seem to see it as a way to make quick bucks when it could be a legit investment and a legit currency rolled into one.

Stability is key. As soon as the market and the ecosystem around Bitcoin have matured properly, which means that at that point we catched up on a lot of the potential that makes people go wild right now, the usage will adjust itself. It will then no longer be a get rich quick type of product, but something that's an actual instrument serving more purposes than just one. I see a Gold scenario evolve here, where Bitcoin can actually function as proper currency tool.

It all comes down to how quick we catch up on Bitcoin's future growth potential. If Bitcoin reaches Gold's level of stability, there surely will remain a decent bit of speculation, but it will be damped down to the absolute bottom. Also, we don't yet know how long fiat will remain relevant when it comes to all its ties to the different assets we have in this world. I don't rule out a 1 satoshi unit = 1 satoshi unit scenario.
4256  Economy / Speculation / Re: Warren Buffett on buying bitcoin: 'That is not investing' on: April 29, 2018, 06:07:38 PM
But if that is true, if it continues to not be used as a currency precisely because the price keeps going up, then that doesn't matter because that means the price continues to rise even without it being used as a currency, so its usage as a currency doesn't matter
It doesn't matter whether Bitcoin will ever be used as currency or not, the whole point is that it will very likely end up being similar to what Gold is right now. Gold was and in some cases is still being seen as currency, but no one uses it as such. Did it affect its value? Nope. People tend to put the focus too much on the currency aspect, while there are much more ways of using Bitcoin than that.

Just showing how your logic doesn't make sense if you say a rising price means it won't be used as a currency, because that says if the price doesn't rise then people would be interested in using it as a currency, which would then also raise its price.
I think you should learn to read and acknowledge what someone is saying. He's referring to the fact that Bitcoin is a speculative asset (ie, investment tool) and not a currency. In that regard, the price going up and down doesn't matter. Lower price means people enter the market, and a higher price means they exit the market, and this cycle will repeat itself endlessly. Only stability will make people use Bitcoin as currency.
4257  Economy / Trading Discussion / Re: Next resistance at 9.7k. What are your thoughts on May movement? on: April 29, 2018, 03:17:28 PM
It's impossible to say anything of importance when it comes to something that no one here has even a remote answer for.

I think the best thing is to just have a very neutral stance when it comes to the short term market, and not be surprised when we either shoot up or tank back down. My personal thought is that the price is slightly overvalued right now, which if turns out to be the case, we basically don't stand a chance against the $10,000 level. The lower your expectations are, the lower the eventual disappointment in the market.

One thing I am however sure of is that whatever happens, we'll be seeing quite a drastic move to the upper or lower direction. Breaking $10,000 will trigger FOMO sheeples, and a dump back down to low $8000's is enough to make people fear for lower prices. People entering the market for potential very short term gains are just gambling. Every trade right now is basically a 50/50 luck based bet, which isn't something I would ever expose myself to. I took distance from trading days ago already.
4258  Bitcoin / Press / Re: [2018-04-28] Court Orders Chilean Banks to Re-Open Crypto Exchange Accounts on: April 29, 2018, 02:36:35 PM
lol interesting stories, these banks are bad and worth some lessons.

Banks are bad and only getting worse. It's something that we allowed them to become, which is the sad reality. In most cases people swallow everything these banks come up with because of how they don't have any other viable alternative, but that won't drag on like that for ever. Once people take care of themselves in financial sense, these banks will literally bag for everyone to come back.

They see their customers as a number, and when you're just a regular account holder, you are even less than that since you don't bring in any profits for them. Banks are actually no longer banks, but more allround institutions where they on all fields generate far more profit than their actual banking departments. I am honestly thankful that we are able to use Bitcoin due to the freedom it offers, and it's just a matter of time before even the average joes of this world will realize that.

Overall, and I don't say it very often, justice has been served. Smiley
4259  Bitcoin / Press / Re: [2018-04-29]Sony Will Store Data Using Blockchain on: April 29, 2018, 02:18:57 PM
The article doesn't really explain well the current shortcomings of the current drm system. I mean it does say that it would fail if the system ceases activity, but that's also true if they use the system to run blockchain.
All articles nowadays are like that. They just state the very obvious and then in overall form, but fail to actually provide the necessary details making the article complete. It's all part of their rush-to-publish way of doing business; ad revenue sluts they are.

I guess they're talking about taking advantage of the decentralization of block chain?
It could be, but I very much doubt that. In most cases all these businesses eye to have their own centralized permission based blockchain developed. I think the main clue of this article is that it points out that instead of Sony relying on servers that store all the data right now, everything will be stored within their own blockchain network (that could be distributed throughout the world) to ensure that every bit of their data remains safe and accurate.

In most cases when businesses store their data on servers, one error could mess up things badly, where in case one of their nodes corrupts or just fails, they know they have plenty of exact 1:1 copies of their data elsewhere, where without permission, the previous blocks can't be rewritten, and thus aren't subject to external manipulation.
4260  Economy / Speculation / Re: Bitcoin increase again? on: April 28, 2018, 06:21:54 PM
big whales and institutional investors will come again to exploit the opportunity.

They already did, and that while most people here were panicking. It's now time for dumb money to start entering the market, because they believe that whales and institutions will enter the market soon. In other words, while smart money initiated the move up, it's actually dumb money lifting the price back up, and that's how this market actually works.

Institutions and other large players are the first entering the market, and the first to exit when they believe the time is right to secure profits. It's a cycle that has been repeating itself for plenty of years, and that even in regular (non crypto) markets, and there is no end in sight. Those who are smart enough to do the same will benefit as well, but that's just a small percentage of the total traders in this market. The mass will always end up being the loser.
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