|
I predict that one day full-nodes will charge for the information they provide.
|
|
|
|
|
Keep in mind that when those were made, there certainly was a bubble: from $20 to $240, then crashed to $80.
But if you bought at anytime during that bubble and held, you still have a nice return over the last 3 years.
Whether we are in the midst of a bubble right now still remains to be seen. The price has doubled over the last year and gone up 20% in the last month. Neither of those seem that excessive. But, if the price doubles a few more times in the next couple months, I am definitely going to be selling.
|
|
|
|
The biggest factor affecting the price (at least in the short term) is speculation. You should add that to your poll. *Bitcoin Halving
Bitcoin is generated at a fixed rate of one block every ten minutes, on average, where one block contains a certain number of bitcoins. This is precisely the amount that will be halved decreasing the SUPPLY (at 12.5 BTC per block), and thus, one would naturally expect the price to rise if demand doesn’t also drop.
The halving does not decrease the SUPPLY. It decreases the PRODUCTION. The SUPPLY is always increasing whether the PRODUCTION is 25 BTC per block or 12.5 BTC per block because bitcoins are not consumed. Because the supply is always increasing, the demand must also continue increasing at the same rate, just for the price to remain constant. |
|
|
|
|
Reducing the subsidy to 0 is good because it reduces the number of variables and potential problems. If you decide to continue the subsidy, then how do we know if its value is good for Bitcoin or bad for Bitcoin. There are problems right now that would be eliminated if there were no subsidy, (e.g. empty blocks).
On the other hand, off-chain transactions (such as lightning network) don't pay fees but still depend on the security of the block chain. In the future, if the majority of transactions are off-chain and don't pay fees, then the security of the transactions will be in jeopardy. One way of reducing the problem might be to keep a subsidy.
|
|
|
|
So miners earn the fees, but full nodes get nothing. Okay. A strange concept for me to grasp. lol
The primary purpose of a full node is to protect your bitcoins. If your wallet is not a full node, or is not connected to your full node, then you are relying on somebody else to protect your bitcoins. As a secondary benefit, each additional node also helps to protect the integrity of the network. |
|
|
|
|
Originally, Bitcoin could send bitcoins to an IP address instead of a Bitcoin address.
|
|
|
|
I was wondering about making a bip38 encrypted paper wallet, but I have the worry of the QR codes being kept somewhere during the printing process, maybe in some kind of temporary file that I don't know of. I want to be sure that I completely delete the file that has the private QR code from my hard drive, so I will use the program called Eraser. The problem is, I don't know if when you print something, the file you are printing, like I said before, gets stored temporarily in other folder, or something like that, or even on the hardware of the printer? somehow. But I doubt it, my printer is a pretty old HP one, so I doubt it has the ability to store stuff.
I hope my question makes sense, if not then I can try to rephrase it.
It is possible that the image of the paper wallet, including the private key, is stored somewhere when you print it. If that concerns you, then BIP 38 encryption of the private key is a good solution. The encrypted private key is shown on the paper wallet, but it cannot be used without the password, which is not in the image. I give out Christmas cards with BIP-38 encrypted private keys, but I send the passwords separately. The cards can be shown to anyone without being concerned about losing the bitcoins. |
|
|
|
The purpose of the article is to promote a website. From the quality, it appears to be written by a high school student. There are a few errors: Bitcoin has been around since 2009, about a year after Satoshi Nakamoto published a paper about the digital currency.
The bitcoin paper was published in November 2008. Bitcoin was launched less than 2 months later. The official Bitcoin website ...
There is no official website. In order to prevent anyone from making changes to the records, blockchain is heavily encrypted and the miners use the processing power to decrypt the transaction records and the blocks to confirm its status.
The block chain is not encrypted. The Bitcoin network is designed in such a way that the difficulty levels of the cryptographic problems increase at regular intervals.
The difficulty is not designed to increase at regular intervals. It can also decrease or remain the same. |
|
|
|
According to Gil Luria, a Webbush Securities analyst who covers the Bitcoin investment vehicle GBTC:
“... [the halving] should help the price go up, if for no other reason than of the rule of economics… It’s a function of the intersection of supply and demand, and the halving literally means there will be less [new] supply every day.”
Less "new" supply still means that there will be more supply every day. |
|
|
|
So you send more bitcoin you pay more fee? this is bs I was sure that you can send any amount with the same fee at least this is what
I was explaining to people about bitcoin.
And why is it fees are getting higher every day? if it goes this way I personally prefer banks. if bitcoin is going to take our money instead of
Producing new coins then I doubt any sane person continue to work with it and support the system.
Miners choose which transactions to include in a block. Since the space in a block is limited, they generally choose the transactions with the highest fee per byte. They don't really care about the amount of the transaction. And what's with the fee when you try to move coins from addresses in the same wallet? I'm referring to new block chain wallet if you try to send from multiple addresses you need to pay fee for them all, but before you could just click on send and you were able to send your Total amount in one transaction with only once paid fee. is it new way to rip off people? I'm not clear on the situation you are describing, but sending bitcoins between two addresses in the same wallet accomplishes nothing, except perhaps if the wallet requires you to send from the old legacy addresses to a new HD address. |
|
|
|
So you send more bitcoin you pay more fee? this is bs I was sure that you can send any amount with the same fee at least this is what
I was explaining to people about bitcoin.
And why is it fees are getting higher every day? if it goes this way I personally prefer banks. if bitcoin is going to take our money instead of
Producing new coins then I doubt any sane person continue to work with it and support the system.
Miners choose which transactions to include in a block. Since the space in a block is limited, they generally choose the transactions with the highest fee per byte. They don't really care about the amount of the transaction. |
|
|
|
Also, consider this: when you "send bitcoins", you are not really sending anything. That means that you cannot send bitcoins in our out of a country. The coins you send to Coinbase in the U.S. could exist anywhere or nowhere.
It might be tough to convince government authorities about this. They are only ready to consider bitcoin as a currency or commodity.  Moreover, your argument could apply to digital fiat as well. When you send money abroad, what you do is only make a couple of ledger entries. I suppose you are right. Legal precedents will be developed, but I believe that they will be generally ineffective. I have a paper wallet with 1 bitcoin. If I carry it from U.S. to Mexico, have I moved the bitcoin from U.S. to Mexico, or have I just moved the key? If I left a copy of the wallet back in the U.S., then where are the bitcoins? U.S. or Mexico, or both, or neither? |
|
|
|
Sometimes too many fake transactions in network or too many ddos attempts, that's why it might take longer for a block to be found.
No that is not why at all. The time is random, but the average is about 10 minutes, Sometimes it takes 30 seconds. Sometimes it takes an hour. |
|
|
|
Seems like a ponzi where the early "investors" are now benefiting from a flood of hype crazed newbie investors dazzled by "pump and dump" appreciation.
We've seen that pattern 500 times on the other Alt coins. Always ends badly.
That's not a Ponzi scheme. |
|
|
|
Can someone educate me the deep interest with Ether? I understand that it has an infinite supply but the supply is controlled based on rising difficulty. One advantage of Ether is its use for smart contracts, and usage ensures demand which could cause prices to rise.
But Bitcoins have a finite supply (unless the code changes) and its first mover advantage allows it to gain proper market share and ensure its demand, and with its limited supply, theoretically, prices should go up. However, if users were to hoard Bitcoins and there is no usage (delayed expenditure) which leads to low-demand, Bitcoins will devalue.
I'm confused. Resident economists, please enlighten me.
Inflation is a more a problem for people that use a currency as a store of value than those who use it as a medium of exchange. I suspect that most people (except for the speculators) don't use ether as a store of value, so inflation is not a big deal. Of course, speculators are interested because they are speculating that adoption will exceed the inflation rate for the time being. |
|
|
|
Honestly daily trading is the fast way to make a profit..
Honestly, if daily trading is a fast way to make a profit, then it is also a fast way to make a loss. |
|
|
|
|
Also, consider this: when you "send bitcoins", you are not really sending anything. That means that you cannot send bitcoins in or out of a country. The coins you send to Coinbase in the U.S. could exist anywhere or nowhere.
|
|
|
|
|
Here are all the answers you are looking for: mining is not for beginners.
|
|
|
|
|
Show Posts
