The concept is interesting but it seems there is not much activity on the website though. The rewards are too tiny for someone to be too enticed to provide answers plus the questions themselves can be answered easily by the OP by doing a Google search themselves and saving time without the need to wait for the answers to start rolling in. Also is there a deadline after which the OP must select the best answers and pay the helpful guys their coins? Because the questions could stay open forever and no one will get anything for their wasted time answering them.
Yup - it's worth it only for people with time on their hands and nothing else to do. Still, without experiments like this we wouldn't find out what doesn't work, would we? |
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Well, Polo used to be really good but recently the rates are going down big time. Probably not worth the risk anymore.
It's a supply and demand thing - the supply of loans has increased and the rates have fallen. I guess they'll go up if there is a frenzy of alt trading dependent on margin trading (another giant pump ether style for example). It also shows there s nothing else more interesting to play with but to simply loan your coins. Calm before the storm or general crypto decline? Possibly - I noticed that rates really declined over the weekend. That might be because less trading is being done on the weekend, which meant funds that would normally be lent, weren't, leading to a collapse in rates. I don't think you can get rich from lending - but it's a nice way to earn a tiny something while you wait for the price you want on trades. Otherwise the coins are just sitting there, and you feel tempted to trade even if the price isn't right. |
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I assume they don't pay out in BTC? That would be a lot more interesting to plenty of people.
It would also save a lot of fees (I think they deduct the fees from the earnings before they payout with Paypal). |
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Well, Polo used to be really good but recently the rates are going down big time. Probably not worth the risk anymore.
It's a supply and demand thing - the supply of loans has increased and the rates have fallen. I guess they'll go up if there is a frenzy of alt trading dependent on margin trading (another giant pump ether style for example). |
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It's interesting that this is still happening - I would've thought exchanges were getting more and more secure - yet the hackers are one step ahead of them. Perhaps there is room for a bitcoin security consultant firm to do business advising the exchanges how to stay safe.
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But what is the monthly return from doing this?
It depends on hat the % fees are trading at at the time but I'd say that averages at about .125% per day X30=3.75% per month.. Any additional earnings on top of that from the loaning method I have had make up to 60k sat per day extra with .5 BTC. But that is just extra on top of the %.. OK thanks, that's quite good. I set up a bunch of 0.001 loans, but so far only one has "popped" within the hour - I guess this is not a high trading period! Thanks for sharing an interesting strategy. |
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. Isn't that a huge problem? I learned in economics class that deflation can cause economic problems.
It can cause problems if you have a lot of debt in your economy. Basically deflation forces down prices and earnings (as prices drop earnings drop too because business can't afford to pay as much). However if you have debt in this situation, the amount you owe stays the same, even while your earnings drop. Not good. Basically deflation only works well in economies with no debt. |
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If the news sites don't co-operate, does that mean those news sites will simply get blocked from this browser entirely?
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Mkay.. This is how it works...
Loans don't always stick in for the full period (min 2 day). Often they pop in and out from people doing quick trades and the polo bot that does the loanin business..
Every time a loan pops out it has to give you atleast 1 satoshi, then sometimes it skipps a few to account for the 15% fee I believe..
So what you want is as many of the smallest loans you can give so you have more chances for them popping in and out..
The min loan is .001btc and if you have more than 1 loan of the same % such as 0.0750% and they are out at the same time they will add together and that is no good..
What ya wanna do is put in a F tun of min loan orders all on different %s... Like this..
.001 @ .0750
.001 @ .0749
.001 @ .0748
.001 @ .0747
.001 @ .0746
But like 200+ of em..
[snip]
I have 2,173 pages of loan earnings from doing that!!!
But what is the monthly return from doing this? |
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If there is no price rise, the miners will push for the blocksize to be increased. Basically they can only make money if there are a lot of transactions in a block, which adds up to a lot of fees for them. People bypassing BTC and using other currencies to move money will hurt the BTC miners badly...
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I remember Second life and how it was so innovative for it's time but it did get boring after a while. Even it's currency system was lack luster. Linden Dollars weren't really worth much but people found a way to convert them into bitcoin  Yes because the development of Second life also stagnated, bitcoin and the blockchain on the other hand still has a lot in of developments going on. What new development has taken place in BTC in the last three years? It's taking years just to increase the blocksize a tiny little bit... |
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http://www.theatlantic.com/technology/archive/2016/04/bitcoin-hype/477141/Something strange is happening to Bitcoin. Once viewed as a way to do business in the darkest corners of the web, the digital currency has rather suddenly become a favorite talking point among humanitarians and international development enthusiasts.
Bitcoin isn’t just for illicit transactions or Internet hobbyists anymore, but for helping the poor, the downtrodden, and the unbanked.
Perhaps Bitcoin can save them! Perhaps Bitcoin can save the world!
Regardless of whether this attitude is realistic—and more on that in a minute—the people focused on demonstrating the social benefits of Bitcoin are challenging existing narratives about the cryptocurrency. While early commentary focused on how Bitcoin might be used to buy drugs online, or for sending money without a paper trail; the social-good argument suggests that these uses were simply the first use-cases in which Bitcoin’s utility became apparent. But there are billions of other potential use. There are, for example, people who face significant obstacles in operating within the formal banking system—and these folks look very different from the shadowy hackers that tend to be seen as the prototypical Bitcoin user. They could be low-wage migrant workers sending money back home to their families, for example, or activists receiving money from abroad during tumultuous times.
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If China is the most prominent nation in the bitcoin world, then why would they want to destroy bitcoin? It has no sense at all.
By doing this they would literally just fuck themselves. Isn't it better for them to keep bitcoin in good health and profit in the long run?
They don't actually use BTC, they just mine it and speculate with it. There are no Chinese stores accepting BTC. Also - I think the miners there can't speak English and have no idea the angst the blocksize is creating, so they simply don't know that there is a possibility that BTC might fail. I guess we'll all find out in July when the halving happens. If the price doesn't rise (or if it falls), we might see some movement on the blocksize. |
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The currency used in Second Life only had value because of the network of people using it, once that disappeared the value declined.
Second Life only had value because of the network of people using it. Why do you guys use past tense tho? L$ "has" value atm. I'm an enthusiastic resident there and i can withdraw a decent weekly amount of USD from there. Surely more than some useless faucets. Am i missing days when L$ rate was 1000USD? I dont think so...been there since 2007... Tell us more - do you think there is a bigger L$ economy than a BTC economy? |
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Bitcoin has been around since 2009 and it's just in it's infant stage now... The currency used in Second Life only had value because of the network of people using it, once that disappeared the value declined.
That's the point though - Second Life only had value because of the network of people using it. Bitcoin only has value because of the network of people using it. And if the network moves on to the next big thing...? |
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There's now a court order stopping them running with the money, Cryptsy's been placed under receivership by a court. Big Vern say's he's still travelling in China and didn't go to the court, or respond to questions about the receivership. All customers will have to wait until the receiver decides who get what like with Gox. http://www.coindesk.com/cryptsy-assets-frozen-as-florida-court-appoints-receiver/The order grants the receiver power to take control of “all cryptocurrencies, monies, funds, property, and other assets” and to oversee any claims against the exchange. The order prohibits anyone with control of Cryptsy assets from selling or transferring them. That's interesting. If they've lost 15% of the coins, they should then be able to repay 85% of people's holdings, which is better than getting nothing at all. However, receivers cost money and they deduct their costs from the assets too.. |
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I dont think coblee cares about Litecoin anymore.
This. The pro-hashing guy tried to get some development on LTC done too, but his stuff was ignored. That said, your best bet is to go to the LTC subreddit, and start a thread, because they key figures hang out there much more than they hang out here. |
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These are interesting developments in Iceland. Maybe something like this will turn more eyes towards Crypto. Blockchains keep accurate records so they can't hide things like they can now. Ironically there will be more transparency with various cryptos and this is what people are demanding of their leaders.
This. The blockchain is a public ledger and can't be bribed. I would think this development will speed up countries adopting blockchains for their own currencies, so everything can be tracked. The Panama thing is happening because cash can't really be tracked, so many dollars are outside the US, they've lost control, and in that situation dollars + some criminal lawyers in places like Panama are all you need to hide your wealth. |
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