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4381  Economy / Exchanges / Re: Bittrex Problem with Smartphone Access on: August 31, 2017, 09:15:16 AM
It's a security measure from Bittrex.  When you access your account from home (or wherever you regularly access it from), you have a certain IP address which would usually stay the same.

If an attacker was trying to access your account, they would most likely be doing so from a different IP address, so Bittrex is trying to verify that it's really you who is trying to access your account.

It seems like they only added this recently.  They always used email verification for withdrawals, but since people have started manipulating funds in accounts for pump and dumps and other shady activity, Bittrex is just trying to keep your account safe.

Since it is you accessing your account, it's nothing to worry about and you should just do what Bittrex says to verify the new IP address (in my case, it was clicking a link in my email).
4382  Economy / Trading Discussion / Re: Question regarding trading on Bittrex on: August 31, 2017, 09:06:03 AM
What price need choose ask, bid or last?
The ask price is the price that people want to sell it to you for.  When you want to buy, you choose the ask price.

The bid price is the price that people are willing to pay for it.  When you want to sell, you choose the bid price.

The last price is just the price that was used on the most recent trade.

It's important to note that you don't have to stick with those ask and bid prices though - you can set whatever price you want, but you just have to hope that someone fills your order.  That's why there is a gap between the ask and bid prices.
When I open sell order at last price, order is opened long time.. not instantly.
There could be two problems:

-The volume is too low in that trading pair for your order to be filled.
-You chose a different price than the bid price, so you have to hope that someone wants to fills your order

If you want your trade to be instant, take a look at the button that says "good 'til cancelled" and change it to "instant or cancel" so that the trade will be cancelled if it is not filled instantly.
4383  Bitcoin / Press / Re: [2017-08-31] Gold Losing Safe Haven Status Due to Cryptocurrencies, Monetary Pol on: August 31, 2017, 08:46:30 AM
The gold market is estimated to be worth between six and seven trillion dollars.

The crypto market, in total, is worth 168 billion dollars.  If we divide an estimate of 6.3 trillion by 168 billion, you can see that the crypto market is about 37 times smaller than gold.  It's also worth mentioning that most cryptocurrencies are not regarded as safe havens (the closest thing to a safe haven is BTC and even BTC isn't particularly safe).

When you consider the fact that the Bitcoin price has multiplied by about 4.5 since the start of the year, it starts looking quite a bit more dangerous and it doesn't seem like it's causing weak performance in the gold market at all.
4384  Bitcoin / Bitcoin Discussion / Re: Bitcoin huge fees on: August 30, 2017, 11:01:31 PM
Bitcoin is no more for small transactions. They have to find a solution to reduce transactions fees.
They have a solution to reduce transaction fees - pay 'off-chain' payment channel (patented) fees.  
How did you manage to get two things wrong in just one sentence?

-LN is not patented
-LN is nothing to do with lowering onchain transaction fees, that part will happen when people start sending SegWit transactions
Fees are too low. 20sat/b is ridiculous.
Bait.
4385  Economy / Economics / Re: Taxes and Bitcoin on: August 30, 2017, 10:48:17 PM
In the countries that I know of, BTC is already taxed when you convert it into fiat.  It's subject to capital gains tax, just like any other asset would be.  To be honest it would be pretty stupid for it not to be.
Thanks for the info Hazir, Interesting read.  I sort of find it similar to gambling.  If you lose money on Bitcoin, basically nothing can be done.  But if you benefit from Bitcoin, they want to make sure they get some of your money.
I don't see how this is new to you.  Significant personal possessions that you sell, for example antiques, would also be subject to CGT.  In some countries it's higher than 15%.

Frankly, you're very lucky it's exempt from VAT (in Europe at least, I don't know about the US).  If you want to sell it, try actually spending it at a merchant instead.
4386  Bitcoin / Bitcoin Discussion / Re: what would happen if Bitcoin the big B got split? on: August 30, 2017, 10:38:17 PM
got split like other stocks?
Bitcoin is not a stock and a split in BTC is not particularly similar to a split in a stock.

A split in Bitcoin can happen at any time and anyone can do it.  There is no one group that dictates when a BTC split happens, and there can be any number of splits that are utterly irrelevant because they have no support.

The only seriously bad scenario is if the new chain and old chain garner roughly the same amount of support.  I don't think the new chain has replay protection so everyone is pretty much screwed in that scenario.
4387  Bitcoin / Bitcoin Discussion / Re: How the NSA identified Satoshi Nakamoto on: August 30, 2017, 04:42:38 PM
When you have a famed billionaire who is respected by many thousands of people, most of which want to find out who they are, there's obviously going to be a lot of people exploiting the hype by creating lies and clickbait.

Clearly this article is bullshit.  The author has absolutely no evidence for the claims he's making.

Satoshi was hardly an idiot.  It's not like they would spend years working on a massive innovation and put lots of effort into staying pseudonymous but fail to understand what stylometry is.
4388  Bitcoin / Press / Re: [2017-08-29] Dark web finds bitcoin increasingly more of a problem than a help on: August 30, 2017, 04:26:01 PM
Now, bitcoin is surely money better than anything else.
Are you delusional?  We're talking about a large amount of people at real merchants paying with BTC, and they're complaining about BTC because it's not working well as a monetary system.

Somehow you're trying to argue that a large number of customers disliking BTC as a payment system would make it a better payment system.  With good money, people can do what they want, which is why physical cash is used so much for crime.

Last time I checked though, BTC is still used for the majority of darknet transactions.  I had a look at Alpha Bay a couple of months before it closed down out of curiosity, and most of the offers there were from people only accepting Bitcoin (although Alpha Bay had wallets for ETH, Monero and ZCash as well).

On first sight you'd think that CNBC actually knows what they're talking about.  Here are a couple of glaringly obvious errors in their article:
Quote
A representative from monero did not respond to email and Twitter requests for comment.
They imply that cryptocurrencies have "representatives" as if there's just one team that you can contact.  On the video, it just says that "Monero" didn't respond to their queries.
Quote
Unlike the open transaction record of bitcoin, monero's technology hides the name of the sender, amount and receiver.
Bitcoin does not show the name of anyone.  What they mean is that it shows is a pseudonym called an address, which is far away from showing anyone's actual name.  Sure, people can often be traced, but BTC doesn't just reveal that information.


4389  Other / Beginners & Help / Re: New Wallet address for each tansaction on: August 30, 2017, 12:20:42 PM
Yes.  You can use the same address multiple times and still receive funds to it.

However there are several problems with this, outlined in the Bitcoin Wiki article on address reuse.  You harm the privacy of others as well as just yourself.

If you do it, just make sure you understand the risks involved and the fact that address reuse is not an intended feature of BTC.  The only time when you would have to reuse addresses is when you receive payments from the same group at regular intervals and you don't give them a new address each time.
4390  Economy / Trading Discussion / Re: Btc or fiat: which is best to try maximize while trading on: August 30, 2017, 11:47:47 AM
Depends what you're trying to get.  Personally I would have no real reason for altcoin trading other than getting more BTC and HODLing BTC, so I would certainly measure against the BTC price.

There's also the fact that alts are usually traded against BTC rather than against fiat, so altcoins' fiat value often rises and falls along with BTC as well, at least to some extent.

If you're looking to get fiat, then looking at the fiat price is fine, but usually you should be considering the returns you get from the altcoin compared to the returns you would have got by just keeping your BTC.
4391  Bitcoin / Bitcoin Discussion / Re: Did Satoshi Nakamoto transact 3000pcs bitcoin to test SW today? on: August 30, 2017, 09:51:08 AM
At the time there were not a lot of miners, so it is plausible that this entity mined several blocks in a day (which they did, the coins were often from several blocks mined in the same day).

It was not necessarily satoshi, just any miner.

It's plausible that this entity either moved their coins to a SW-compatible wallet for some reason, or it's plausible that this entity is trying to split their BTC and BCH.
4392  Bitcoin / Bitcoin Discussion / Re: Bitcoin huge fees on: August 29, 2017, 11:28:39 PM
Stop complaining, just send larger valued transactions to take advantage of the platform.
What about people who aren't rich?  Are they supposed to be priced out of using BTC?

sorry about my ignorance, but what would happens if the protocol itself would ask the miners to go for all the transactions no matter the fee size just following a timestamp that would determined that for certain transaction to be processed first all transactions that were made before must be confirmed?
I agree with the principle of indiscriminately accepting transactions, but that wouldn't happen in practice - it opens up a significant attack vector.  If you were an attacker, you could send unlimited amounts of transactions and fill the whole blockchain with spam transactions - almost for free, because transactions would not be confirmed based on fees.

Of course there are various arguments about the merits and drawbacks of increasing the block size, but one thing that it can do is increase how expensive it is to spam the network.  For a spammer to get their transactions confirmed they have to pay a fee that makes that happen unless they're a major mining group that can selectively include spam transactions.
4393  Bitcoin / Bitcoin Discussion / Re: Satoshi just sold his mined Bitcoins from 2010 on: August 29, 2017, 11:15:35 PM
If I understand it correctly, SegWit uses newer P2SH (pay to script hash) addresses, which start with a three just like the ones that this person is sending to.

Rather than jumping to the conclusion that this early adopter is "cashing out", we could consider that they're moving their coins to SegWit-compatible wallets - something which people with the opportunity should certainly be doing.
4394  Economy / Web Wallets / Re: Is it still worth trusting the services of Xapo? on: August 29, 2017, 10:51:59 PM
At this point it's normal for even online wallets to offer access to your private keys at some point and less trust in their services.  Services such as Green Address, BitGo and Blockchain.info offer you at least some access to your private keys.

The only wallets that shouldn't do this are exchanges and wallets which try to interact with fiat in other ways (such as Xapo's debit card).  However, these things should be opt-in features which are distinct from the wallet service which they should be providing.

As for faucets, I suspect that they acted similarly to a "faucet cache" in that sense - receiving larger transfers of BTC at once from the faucet, and then adding the tiny amounts to users' accounts from the money they had already received from the faucet.

In that sense they would still be acting the same with faucets today as they were before, and they have become no less trustworthy.  The only difference is that the BTC transaction fees are now too high for them to cover on their own while still having a profitable business model.
4395  Bitcoin / Bitcoin Discussion / Re: Drawbacks And Bumps On Bitcoin Path! on: August 29, 2017, 03:01:15 PM
1. Increasing number of attacks
Attacks become harder over a long time because developments in hardware can allow the blocksize to gradually rise, which means that they have to spend more to push the transaction fee up to the same amount.
forks
Forks are irrelevant.  That's the market's decision.
and ransomware
Fair enough.  I would be using Monero by now though.
2. A limited number of available coins
That's a good thing.  There are more than enough units because each coin is 100,000,000 units.
3. Increase in complexity of Bitcoin mining
That happens naturally from the price.  If the price decreases, so does the difficulty.
4. Slow processing of transactions
5. Increasing transaction fees
Fair enough.  Those are scaling problems which will hopefully become less prominent with Lightning and other solutions.
6. Price fluctuations
That's always going to happen in an asset unless it is globally adopted.  The same thing happens with gold.

At least it's not just decreasing forever like fiat though.
7. Lack of malleability within the network
?
4396  Bitcoin / Bitcoin Discussion / Re: Bitcoin huge fees on: August 29, 2017, 02:45:29 PM
Bitcoin fees are nothing to do with the amount being sent.  Had you sent a $10,000 transaction with the same number of inputs (probably one or two in this case), you would have had the same fee.  Bitcoin transaction fees are about the size of the transaction in bytes.

If you're concerned and you particularly need to send a smaller amount, you could just:

-Set a lower fee (one that will still get confirmed eventually)
-Use a transaction accelerator with a low-fee transaction
-Use a SegWit-compatible wallet such as the Ledger hardware wallet to send SegWit transactions and reduce fees.
4397  Economy / Speculation / Re: September 2017 coming... Thoughts? on: August 29, 2017, 10:20:27 AM
But beware. Bitcoin started 2009. By November 2012 it was near $1250. At the beginning of 2017, it was around $250. Now, $4300.
Can you please stop making up numbers?  The rise to >$1000 was in 2013, not 2012.

Also, the price at the start of 2017 was $972 according to coinmarketcap.

Ignoring news and negative situations does not mean that BTC is more "resilient" than before.  It's important to recognise that some of this price rise has been caused by "new" money which was not aware of the previous situations BTC was in and they could still be weak hands for all we know.

It's more likely that the market thinks the positive news (particularly SegWit) outweighs the negative news for the time being.  This will not remain forever - as we know, there will always be bearish periods for assets.

IMO, the price will remain reasonably high until about mid-October.  Then it'll all be down to the outcome of the New York Agreement.
4398  Bitcoin / Bitcoin Discussion / Re: Would any government in crisis consider storing their cash in bitcoins? on: August 29, 2017, 09:59:45 AM
the economy is usually backed by things that are more reliable and stable than bitcoin. things such as precious materials like gold.
The main reason that gold was/is so valuable is basically just because it was an interesting asset with physical scarcity and governments could therefore use it to back fiat money (which of course they no longer do).

While I find it hard to believe that the whole global economy would switch over to a new asset, so I don't think this scenario would ever happen, it's important to recognise that volatility is not an inherent feature of BTC - it's just the situation which it is currently in.

Also, how would something like this affect price.
Err, how do you think that buying billions and billions of dollars worth of BTC would theoretically affect the price?
4399  Economy / Exchanges / Re: Bitcoin Debit Card will STOP on: August 29, 2017, 09:38:15 AM
I just ordered mine and the fees may be somewhat high but it's the peace-of-mind factor that I value here.
IMO it mainly depends on how high the fees are relative to just spending BTC directly.

If you live in the US, you can buy most goods from actual BTC merchants or from Purse (excluding perhaps the most basic things like food, but personally I hold some fiat as well as BTC).

The fees would only be worth it if either you don't live in the US or Europe (a country with less BTC acceptance from merchants), or if you hold most of your savings in BTC and would use it a hell of a lot to make up for the crazy ordering fees.

Personally I live in Europe so I can just keep using my Xapo card.
4400  Bitcoin / Bitcoin Discussion / Re: A fairer future to one at the path on: August 29, 2017, 09:19:36 AM
I don't agree with the point that it's only for the rich, and not the poor
Are you sure that you're capable of reading three paragraphs?
This is also exactly what everyone is looking for rich or poor.

It's not a good idea to treat cryptocurrencies as a good asset solely because they went up in value.  If you're trying to argue that they're a good asset, you have to provide genuine reasoning for it.

The more people that have your attitude, the less people there are that would regard it as a good asset when the value decreases.
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