...to find out if humans can cooperate and reach consensus? TIC
we are failing...
In retrospect, what would you expect?
95% consensus on anything important? When did it happen before on something this complex?
It would be curious to see what happens later on this year.
It's not, that is stupid. How are we failing? Wouldn't they want to give something perfect, instead of something with many flaws and limited advantages to the layperson? In retrospect of what? I think we reached 95% consensus on CFCs destroying the ozone, that's why you can't buy CFCs anymore. I guess Videos and DVDs won 95% market share. CDs probably too. What will be curious? I hope you aren't talking about aliens anymore, Bitcoin has nothing to do with aliens. |
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If not, what innovations do you think future alts will bring to crypto ?
Some Alts already have brought innovation to crypto, but the majority of traders trade BTC like they are trained Pavlovian Dogs. Comparison BTC aka Bitcrap PoW / Energy Waster Centralized to China Over 51% Controlled by China for over a year SLOW Transactions speed of 10 minutes Onchain Transaction Capacity overloaded , some times taking days Transactions entered into Block because of the Fee you pay and not the order it was created. Needs LN (offchain solution) because BTC is a technical failure Full Nodes receive none of the transaction fees , (Only PoW miners receive transaction fees.) (Basically supporting the network for Free.) _______________________________________________________________________________ ____________________________________ Innovation ALTPoS / Energy Efficient Decentralized 51% resistance build in by the chaos effect of Coin Age. Fast Transactions Speed of 30 seconds Onchain Transaction Capacity to spare ( 20X BTC Capacity) Transactions entered into Block in the order they were created, no jumping in front of others by paying a higher fee LN is unnecessary for such an altcoin All Nodes can receive transaction fees , when they stake, while supporting the network. (That Alt is ZEIT )   I have to agree with Spoetnik, solving these problems does not in any way mean that people will start to use ZEIT. There are plenty of other alts that hit at least a few of these solutions, but it doesn't mean that they are well run or not scams. Alts are a pump and dump, people will scream how great they are when the price rises, but when it falls back down, it will be forgotten. I do think that there will be an alt worth backing at some point. I just don't think we are there yet. Bitcoin gets a pass as it has the first mover advantage. If you point out all the faults in Bitcoin and it fails, Alts will follow it down the drain. |
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I've heard of a network of restaurants in Holland accepting bitcoins. This happened a few years ago, and when it happened, there was a lot of hype and it was probably one of the reasons that made Bitcoin's price increase a lot at that time.
Yeah, me too. I read about the Den Haag (the Hague) Bitcoin boulevard where you could spend Bitcoins everywhere! It sounded great until I got there, and couldn't find anywhere that accepted Bitcoin! It turned out that one vegetarian restaurant that wasn't open every day accepted Bitcoin, so we went there on our 2nd evening, but a Bitcoin haven it was not! Berlin wasn't much better (another Bitcoin haven), though I have managed to buy food there using Bitcoin. |
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- The coin is mine-able. (with what ?)
- It has a creative NEW gimmick / feature. (depending on your perspective)
It seems that it is GPU mineable, but only with a very limited number of GPUs. It also sounds like the miner is pretty poor and variable. The gimmick or USP would be the bank account like address (also self limiting though). I don't really get the deletable bit, and it isn't mentioned in the white paper. It looks like the first block was mined at 2016 Aug 11 - 17:08:32 |
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We are in speculative markets. Probably everything we see today is eventually doomed. That doesn't stop people from speculating.
I assume with that you are referring as well to the current stock market, housing prices in big cities, the value of the dollar, etc? To be honest I wonder where the common man can currently safely store the proceeds of his work just keeping it's value? That is a difficult one to answer. If you leave your money in the bank/savings account, you get zero return. If you invest in stocks (buy the ATH!) then you could get some profit, but it has to be due a big fall. Bonds pay very little for what I believe is a bigger than advertised risk. So Bitcoin, the price is historically high at the moment, but could easily rise 100%, or fall 75% in the next year. That is worth a punt and should be part of your portfolio, but is dangerous. I would say that the 'safe' bet is PMs. I would have said oil, but it really seems like the $100+ prices are gone now due to fracking, and global demand will fall in the future with lots of countries desperate to pump everything they have, as soon as possible, before it becomes worthless! |
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The only way that I see that he will be correct is if a central bank or large company releases a coin.
If Apple or Paypal migrated their payment services onto a cryptocurrency, then I think they would be worth more than Bitcoin is now.
The current crop of Alts aren't going to overtake Bitcoin. ETH was a decent idea that has been poorly executed. Something similar could be successful, but I don't see at the moment what that is.
Many alts have no chance of making it big from the outset as they have feature, such as anonymity, that will never be accepted by the mainstream.
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I don't understand why hedge funds have so little (none?) exposure to bitcoin. What are the principal obstacles?
I can understand why hedge funds don't hold Bitcoin. It is difficult to buy in high volumes and hard to secure for a lay person (hell a lot of non-lay persons have lost a lot of coins!) Why they don't invest in Bitcoin backed ETFs must be geographical, i.e. those that are available are somewhere else, and they don't exist where they are. I do think the Winklevoss ETF would be a good thing for just this reason, but we really don't need paper Bitcoins either, GLD and SLV have destroyed physical gold and silver. |
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- Either you sent a too small fee
- Or the network capacity limit is too small
- Or both
Yep, Bitcoin is getting more expensive to spend. Bitcoin is running also at full capacity and can't keep pace with transactions, even though the number of users is very small. I sent a transaction recently that took 20h to go through, even though I left my old Electrum at the standard fee. No need to change anything though! |
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The 80-90% fall in trading volume might have something to do with the small fall in price.
I see it as a long term positive that HFT is reduced.
They basically offer nothing to Bitcoin, they microtrade and Arb over different markets, but don't help anyone but their owners.
They exagerrate swings too, so as soon as a small fall happens, they jump on it to sell so they can trade lower, making the fall bigger.
I hope they are priced out.
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I don't really get what you are trying to point out here.
The dollar's value in other currencies, commodities and Bitcoin varies all the time. You will need a time stamp of the exchange rate at the time of buying Bitcoin and the time of selling bitcoin.
The difference in dollar value will be taxable.
You can argue the semantics of the USD and if it has any value at all, but the IRS won't care. If you feel that it is worth arguing, I would suggest that you don't bring it up with them personally, unless they audit you!
Otherwise I think you might find that they suddenly want to audit you, and may not be too interested in your definition of the USDs value!
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What factors will satisfy us that blockchain technology is on track for realizing its potential?
Because as of now we see very little in the way of commercial and user engagement...
This discussion would need to be broken into 2 types of blockchains: public and private. A public blockchain with a token based mining system is where the greatest potential lies. A private blockchain is somewhat like an intranet where a public blockchain is a full-blown internet. Yet I would bet that private blockchains will be a bigger success than public ones in the future. It seems very unlikely that Bitcoin will ever be a world currency, though it could well be used as a method of transferring capital around the world. A private blockchain can be used by stock exchanges and banks to bring them into the 21st century. The amount of paperwork that they need to do is just silly, it can all be covered by a blockchain. That blockchain will undoubtedly be private, windows in might be allowed, but hacking opportunities would be too high if the open it to the public. |
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What will be the first price on Poloniex?
People seem to like to ruin the curve for everyone by busing/selling a few satoshis worth of new to Poloniex coins for a massive amount.
Then you can never look at the all time price, because the curve is on the wrong scale.
Good luck to all PascalCoin holders anayway, the next few days will be interesting for you for sure!
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Dollar is going down again..
Is this positive for bitcoin price?
MOON ?
The dollar has been at record highs whilst Bitcoin has been rising. That is the reason given for the Chinese moving their money into bitcoin, so that they don't lose out by the Yuan falling (as well as avoiding capital controls) If the dollar weakens, as it looks like it may, then I can't see that as price positive. |
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Not to sound too negative here, but it is such a waste of money and energy!
I read through Satoshi's posts in the last week or 2, and he didn't want people racing into GPU mining, because CPU mining is much fairer and everyone can do it.
Now we have these super-farms that cost millions of dollars to set up and run, when they peform the same task as my home PC could do, i.e. confirm the transactions.
The increase is obviously price dependent too, maybe when the price rocketed the miners saw an opportunity to buy new equipment and still make a profit. They are on razor thin margins otherwise, it isn't a job I would fancy doing!
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People think that Bitcoin will be valued more in the future. So they are both mining and buying bitcoin.
Is there any possibility of a decrease in demand for Bitcoin? Whatever happens, people give up using bitcoin.
Of course it is possible. As much as it is possible that the demand can grow high, the opposite can also happen. A few reasons that can effect this are: 1. Bitcoin fails to scale 2. Bitcoin is banned from your country 3. Increased confirmation time 4. A better alt coin emerges that overshadows bitcoin. 5. A major bug is suddenly found on bitcoin codes There can be more reasons that can bring the demand down that I have not thought. I am really sorry but you are completely mistaken; 1. Bitcoin will succeed to scale with either the one or the other way. Nobody and especially miners want people give up bitcoin because they have spent millions of dollars in mining pools. 2. So what? Bitcoin uses internet and anybody can use it to buy things from Internet. Moreover banning has the opposite results from the intended ones https://news.bitcoin.com/needham-banning-not-prevent-bitcoin-adoption/3. There is lightning network in alpha release for micro payments 4. May post the traits this alt coin so as it will overshadows bitcoin? or what kind of features bitcoin lacks from this super alt coin? 5. Wow!! After 8 years nobody found this 'bug' and 'major' one? If anyone find something like that banks will put him on their payroll without doing anything. Today I read that Pakistan the 7th most populous country in the world may be the next major user after India https://news.bitcoin.com/pakistan-set-to-become-a-major-bitcoin-hub/Yeah he was right and you were wrong! All of the things he mentioned are potential problems that could reduce the demand for Bitcoin. Your answer for 1 hasn't happened yet, and didn't happen when the network was being clogged by spam transactions. If Bitcoin is banned, demand will fall. A better Alt could overtake Bitcoin by being adopted by major companies and banks. ETH got to about 10% of the value of Bitcoin not long ago, a good new Alt could overtake Bitcoin. That is ignoring a 51% attack and quantum computing. Both could badly hurt Bitcoin, reducing the demand greatly. |
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I'm currently training on one of the most leading insurance companies here in the Philippines and I will take my licensure examination this coming Monday.
It just comes to my mind that if ever there will be an insurance company that will accept bitcoin as their premium and bitcoin will also be given for every claims such as death benefit and other more, will it be successful or not? What do you think of this idea?
I don't see any particular advantages of Bitcoin in this instance. Being anonymous/pseudonymous is irrelevant as the insurance policy would have to have the information about the insuree anyway. Insurance is generally intranational, so no currency exchange is involved. Speed of transaction isn't important. There is also no risk of chargeback that needs to be stopped. Am I missing something? |
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Hello, After successfully predicting BTC moves in 2016 here on the forum, I have a new set of 2017 predictions that I'm using to trade the current move. 1. Rise to $1,200-$1,300 (Current move) 2. Correction to $800-$900 level and range trading for a while 3. Rise to $1,500 4. Correction to $900-$1,000 and range trading for a while 5. Continued rise to $2,000 by end of year tldr; BTC will double this year after making a couple of moves up and down. So you don't actually care about Bitcoin being accepted by more vendors, or more ATMs, or new technology being integrated into the Bitcoin blockchain. When you talk about the direction of Bitcoin in 2017, all you care about is the price. I think the actual meaning of Bitcoin has been lost by lots of people on Bitcointalk nowadays. The price is interesting obviously, but it's ability to cross boarders and be an international currency that isn't regulated and controlled centrally is the idea behind Bitcoin. |
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Trump inauguration bull run is coming today. All those people thinking its the end of the world and all that good stuff once chaos ensues in DC
Ready to cash out at 1000
Hrrrm, not sure. He and Yellen are at odds. I can see it going either way. It would be interesting to see the effect on the Bitcoin price (and PMs) if he audits the FED. I really hope he does, I think there are a lot of skeletons in that closet! They should do a Gold audit whilst they are auditing stuff. How much does Tungsten cost? Not as much as Gold I'd wager! |
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I have just thought of the most tragic thing that people could do, if something went wrong with Bitcoin.... Burning their coins.  Let's say, some tragedy strikes Bitcoin and the price per Bitcoins goes to ZERO .... would you burn your coins, or still hoard them in the hope that this tragedy would be turned around. Examples : We figure out some 3 letter agency is behind the technology and they have some master plan to confiscate all wealth or just to control global economies. / A huge flaw in Bitcoin gets exposed and all private keys are compromised. This is highly unlikely, but a Doomsday scenario that might just kill the coin.  This one is dedicated to RAWDOG.  If that was the case, I would predict that someone would hardfork the failed/comprimised Bitcoin leaving holders with a possibly useful new coin on the new chain. Given that my options would be, burn the coins (how?) or hold for a chance of them having direct or indirect value I the future, I would hold. I guess I would have thousands of Bitcoins in that situation, as even with problems, I would be buying at $5! |
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Hello,
I made a post on the Dogecoin reddit about this as well.
I do not want to share my idea, but I want to meet a developer to give my idea to, someone who is likely to implement it after talking with me.
From what I know, it would be a soft-fork from doge-coin. The goal is not to create a competitor alt-coin softfork, but rather garner adoption within the dogecoin community for the softfork.
It will be a benefit to the value of dogecoin prices, by using some of the excess supply. It comes with a good marketing pitch which I share on the reddit. Gabe the new internet sensation!!
What's in it for you? --- You get to lower the supply of doge and potentially pick up some of the proposed benefits.
It also would likely revitalize the dogecoin community by continuing the meme into the 2nd generation of inter-stellar and soon to be inter-galactic doge! Doge to the moon! ... but then what?
This is the fun next step. Coding shouldn't be terribly difficult.
And I could see about funding a basic website for launch, I've built websites.
Sincerely,
Doge Coin Millionaire Enthusiast (millions in doge that is)
If you want people to agree with your idea and start a movement to get your soft fork, you will have to share your idea! What do you gain by keeping it secret? The change can't be anything too significant if it is just a soft fork, I would be interested to hear if it is anything worthwhile. I fear as you are a 1 post Newbie, that it might be a spam post though. |
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