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481  Economy / Economics / Re: Could the fact that IS use bitcoin ruin bitcoin? (I hope BTC will ruin IS) on: December 12, 2015, 11:13:30 AM
This is just a story that the media made up and as usual, spread like wildfire. They have no proof of terrorists using bitcoin, and bitcoin is already regulated by international authority's accordingly.

I do not think so, I've read that IS also relies heavily on plain old cash transactions, which is somewhat comparable to using Bitcoin.
They probably make use of multiple different currencies and precious metals.

It is in fact already on the news, just saw this:



As expected, it was a matter of time that media would start reporting on Bitcoin being used to finance the terrorist attacks. If it's true or not it's another story, I don't think they know for a fact, they are just speculating.

How is bitcoin an income source?? Do they some massive mining operation back in Syria or Iraq, or do they receive Bitcoin through extortion or something like that?
I think if they did use bitcoin, they'd have their own eggheads whod work on day trading, or theyd just hodl. I don't think theyd have a mining operation, as i heard that Syria and Iraq have regular power shortages and cuts.
482  Economy / Economics / Re: Why do people keep saying BTC is dead?! on: December 12, 2015, 11:08:55 AM
Bitcoin is not and will not be dead. Bitcoin is very much alive. I think there's an upcoming GFC, and there are signs. People will change their fiat to assets like bitcoin, and bitcoin will spike.

The government cannot take your money unless they break into your house and take your trezor, or jack your computer. And I'm sure that if they don't have a compelling reason, your protected by law.
483  Economy / Economics / Re: What do you guess about he future of bitcoin? on: December 12, 2015, 11:00:05 AM
I think theres a GFC coming. People will try as much as they can to cash out their fiat for assets like bitcoin, and bitcoin will spike. Bitcoin will then continue to go up, unless a country bans it. Prepare to hodl you all, and Long live bitcoin.




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In less than one hour, you posted three posts in the same thread without anyone posting in-between... Have you heard of editing your posts to add more information?
484  Economy / Economics / Re: simple way to understand bitcoin on: December 12, 2015, 10:50:45 AM
You know what's even harder? Trying to explain bitcoin to someone who isn't really comfortable with technology, aka an elderly person.

You forgot hashing power. The more hashing power you have, the more piggy banks you have, therefore giving you a higher chance of winning the "lottery".
485  Economy / Economics / Re: Wall Street Crash Begin on: December 12, 2015, 10:46:44 AM
I personally have seen this change too. Something big is afoot. I think, like you, we have another GFC on our hands. And I have a strong feeling it's related to China's fall. Maybe it'll be good for bitcoin, people will start trying to change their fiat into other assets like bitcoin, or keep all their money in cash. I've listened to a podcast where s man kept eight hundred thousand us dollars worth of euros underneath his fridge xD
486  Economy / Economics / The start of the next GFC? on: December 12, 2015, 10:38:49 AM
Hey guys, I've been looking at the recent stockmarket stats and have seen that NASDAQ, Dow Jones & weak street have dropped 2%... That's quite significant... Is there a reason for this? Something big is happening I feel...

And also, does this have any relation to bitcoin going up, or vice versa?
487  Bitcoin / Development & Technical Discussion / Re: Is there a way to find which block your bitcoin was mined from? on: December 12, 2015, 10:33:52 AM
Your bitcoin probably came from multiple blocks, is they aren't freshly mined. This is because people's wallets mix and match the coins that will be transacted, and you can never know if they're from the same block.

It is possible to trace the origins of the Bitcoin in your addresses, but they will not go back to the same block. It would all trace to a bunch of different blocks. All you have to do is follow the chain of inputs to outputs to find the block the Bitcoin was generated.

Your Bitcoin is not from the first block ever mined, or from any of the first couple hundred, since the bitcoin generated in those blocks have never been spent.

Yeah what he said above... You'll probably end up with a bunch of different blocks where the BTC comes from.

Why do you need to do this anyway? There is no point.

I guess he's just interested. He wants to know the origins of his coins. I, myself always check the date my coins were minted. Some old habit of mine.
488  Bitcoin / Bitcoin Discussion / Re: How do you define "early adopters"? on: December 12, 2015, 08:38:55 AM
Basically I think "early adopters" are people who were using bitcoin before the price spike. Because before that, bitcoin was nothing and it was really hard to know about it. Early adopters found out and used bitcoin, and are currently super-rich. Anyone after that are latecomers, and they aren't super-rich. Oh, being rich/mining alot of bitcoin solo also defines you as an early adopter in my books Grin
 
489  Bitcoin / Bitcoin Technical Support / Re: Why does a high-priority tx get delayed? on: December 12, 2015, 08:33:12 AM
Blockchain.info's priority checker is pretty outdated and innacurate.  In actuaality, they should like to cointape.com, or you should use cointape for reference. I find it's accurate and overall quite good.

I never trust blockchain, I use coinbase, they pay the fees and use cointape. MyCelium's tx fees are outdated, just use a custom one.

Blockchain.info says "very soon" means most likely your transaction will be confirmed when next block mined, but it's not accurate.
The reason your transaction took 1 hour for a confirmation because there are many transaction in network & your fees is below recommended (only 0.0002BTC/kb, you should use 0.0005BTC/kb to get faster confirmation)
is the recipient also influence the speed of transaction?
i sent bitcoin to primedice,and its very fast,but when i try to sent to bittrex,its taking long time,can you explain about this?

The recipient does not influence the speed of the transaction.
490  Bitcoin / Development & Technical Discussion / Re: Is there any chance the fee will rise to replace block subsidy? on: December 12, 2015, 08:02:45 AM
Probably. It's happened before. Probably will increase to about 0.0005 for average txes, not much. Or at most, 0.001 satoshi. That will more than cover the lost btc.

What i'm really scared for is when 2140 comes. If bitcoin is widely adopted, the price will be huge. But will the tx fee be 1+ plus bitcoin? Not that's a scary thought.
491  Bitcoin / Development & Technical Discussion / Re: Quantum computer? on: December 12, 2015, 07:47:35 AM
Quantum computers can do certain things many, many times faster, but things like hashing wil stay bout the same. Don't worry, unless quantum computers become ridiculously cheap, we all have nothing to worry about. Even then, the community will push out a new type of cryptography that's quantum proof. You have nothing to worry about.

Quantum computers are close to being invented, but not that colose.
492  Economy / Economics / Re: China currency and effects on BTC on: December 12, 2015, 04:40:19 AM
Maybe that's why bitcoin has gone up so much Grin

I don't really think the Chinese are really trying to cash their Yuan out, nor are they as desperate as you think, at least.

But to be honest, the bitcoin price would go up if a whole country cashed out. But I don't think the Chinese are cashing out.
493  Economy / Economics / Re: Could the fact that IS use bitcoin ruin bitcoin? (I hope BTC will ruin IS) on: December 12, 2015, 03:16:54 AM
No. Bitcoin is already monitored accordingly by governments.

And it's also not a "fact". Want to know a real fact? IS doors not use bitcoin. Gotcha there.

If IS DID use bitcoin, then it's have an impact on bitcoin. Not to the current bitcoin users, but people who want to adopt bitcoin will get scared of the idea of being even barely related to an "inhuman state"
494  Economy / Economics / Re: Tell me your predictions about Bitcoin on: December 12, 2015, 03:08:17 AM
I think in 5 years, bitcoin will be in the high thousands. The TX fees might be double, maybe quadruple what they are today, though. But I really think it won't make much of a difference, as even ten times the TX fee if today is still pretty good.

And also, bitcoin will be alot note popular than today.
495  Economy / Economics / Re: What would happen when 21 million bitcoins come into existence? on: December 12, 2015, 03:00:14 AM
I personally don't think anything will happen. Maybe the TX fee would become 0.01-0.001, to compensate the miners.

There will never be 21 Million bitcoin because I purposely bought one way back when and sent it to a wallet to be lost forever, because i could  Cool

But there still would be one in existence - just lost.

I guess long before that, the fee will rise to a level that is enough to maintain the incentive of miners, maybe 1 bitcoin per block forever. It can be that every 4 years, the fee doubles to compensate the loss in block reward, at the same time the number of transactions per block might also doubled to keep the fee per transaction roughtly the same level

But if this happened, bitcoin will either crash, because the TX fee is so high, or bitcoin will become very very cheap to compensate for the TX fee.
496  Economy / Economics / Re: Bitcoin does not need to be spent constantly to maintain its value on: December 12, 2015, 02:55:29 AM
There is a common misleading concept: Money's value comes from its transaction demand, without transaction demand money worth nothing
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Since when was that a popular concept? Money does not work like that. Something is worth as much as the next dumb person of is willing to buy it for.

This is why no one is telling people to spend their coins. Some people even encourage hodling. If there is the same amount of demand but less supply, prices go up.
497  Economy / Gambling discussion / Re: ୧(╭ರ_•́)୨CSGO Predictions BY:Zilara ୧(╭ರ_•́) on: December 12, 2015, 02:48:13 AM
I only bet on Katowprice and Cologne. Teams throw way too much. You have a good betting rate, good luck with all your future bets. Better than anyone I've ever followed. Is totally recommend you. Are you going to do so the games on CSGO lounge, or just some?
498  Economy / Gambling / Re: Any good dice site users could invest? on: December 12, 2015, 02:26:09 AM
The only two ive ever invested in are Satoshidice and Moneypot. Satoshidice lost me 0.1, would never invest they're again. Moneypot made me 0.03, so if personally recommend them.

But the best would obviously be just dice. The only problem is that they use clams. Even though you'd make profit, clams are pretty volatile and might end up being with less when you bought them typo when you can it from Justdice.
499  Economy / Gambling / Re: What is your gambling stategy? Are you risky, or do you prefer slow? on: December 12, 2015, 02:22:24 AM
Slow and steady wins the race. I martingale with a 2 BTC bankroll, and a 1 satoshi base bet. Works like a charm. Made a bitcoin and left. Never gambling again. Zip, Nada. I went on an 18 losing streak. A bit too risky for me.

Martingale is the best, by far.
500  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker - April 2013 on: December 12, 2015, 02:14:23 AM
Interesting info. Thanks for sharing

Don't you think we'll re-test the ~$50 price beforehand?

doubtfull,the 50$ floor is not imaginary.


it all comes down to psychology
sellers don't want to sell below 50$
buyers are happy to buy tons at 50$

... RALLY!


Very true. People these days just want to make money, and other people want to save money. What has this world become?
The world has become smart. There utilizing the market. Making the biggest profit or if the smallest things. Saving and making make who you are.

That's how the world works, kid.
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