I agree the fees now and horrible, it's not anyone's fault though IMO, the network is just too congested, the miner's mine the TX with highest fees which is just common sense. Blocks are always full so you can't complain about the miners, I don't think there are even whales here.. anyhow the congestion will probably last few weeks or so, it seems to be getting solved gradually.
On the other hand, PayPal is still much more expensive for merchant payment of anything above $40...
There are more things which have a value though. If you hold your Bitcoin on your laptop and someone steals them, the transaction is irreversible. Regardless of the possible reality of Bitcoin security, a trusted intermediary can make the general public feel more secure when doing everyday transactions. Also, people are very conservative with their money, so the benefit of Bitcoin needs to be extremely clear instead of being masked behind a wall of profiteering, high fees for certain transactions and more. Companies like PayPal can take their fee as a percentage so it doesn't appear to be so high when users make small transactions, but Bitcoin's fees can't be handled in this way. The lesson is, Bitcoin doesn't just have to appear better than PayPal. It has to appear better than PayPal in both security and convenience and it has to be several times lower than PayPal in fees. Bitcoin is perfectly capable of this. |
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20 votes, that's a lot of butthurt spammers...
Maybe you could do what all the other sig manager bashing threads do and make vague claims that they're enlisting alts to earn, or dig up some threads from 2014 of them doing something with slightly poorer judgement than they have now.
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I have a little trick for spotting more subtle scam sites like this, which is why I chose not to invest. It's very simple:
1. Search the site on allhyipmonitors.com
2. If it's listed there, it's a scam.
You should also check the whois information and domain expiry date. A couple of other tricks:
-If there are any photos on there, do a reverse image search. If it comes up with stock photos, it's a scam (especially when they're showing people that supposedly work there).
-If the returns on "trading platforms" like this are increasing on average, it's a scam.
-If they are a UK registered company and they mention it or show it in their SSL green thing, they're a scam.
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Just recently we reported on the Poloniex exchange trying to handle a significant increase in cryptocurrency trading as well as a large influx of new customers. However, Poloniex is not the only trading platform dealing with more trading action as nearly every exchange is experiencing increased demand.
‘Significant Pressure on the Customer Service Team’
May 25th was a hectic day in Bitcoin-land as trade volumes hit an all-time high of over $2.4 billion during the day. Many traders are making moves to accumulate profits by day trading or utilizing intra-range strategies. Although quite a few exchanges have been having a difficult time dealing with the demand, Denial-of-Service (DDoS) attacks, increased customer support, and even keeping their website online.
read more:https://news.bitcoin.com/increased-bitcoin-demand-strain-exchanges/
In those days poloniex had 53000 people online, it was amazing... well, it now has only less than 40000 people. I would like to know the reason for having 53000 people online and now having less than 37.000 people online? Because their activity was very suspicious. Having intermittent "DDoS attacks" doesn't prevent an exchange from processing withdrawals or responding to tickets. Most exchanges should find it easy to deal with an increase in usage and trading volume, especially with the kind of revenue that Poloniex pulled in. Most wary people, including me, have moved to Bittrex by now. |
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I agree with the kind of wallet to which you want altcoins with it but it is going to be a hard work with maintaining everything. But the DNA part? That is a big NO for me and maybe for many people here. Some of the people here dont want themselves being identified with just their DNA. One more negative part of it. It could cost a crime. I would simply stalk one person. Get his glass and use his DNA and I could make a living out of it.  To answer the criminal part: quite contrary. You can not fake a DNA. In your example, yes you may get along a bit when coin ->dna procedure but since DNA=the person (biologically), you can fake completely DNA if you replace everything in you with the person from whom you stole DNA. The reverse part dna->coin is impossible. If you steal DNA (as you say), it may work to get the coin, but if you want to use the coin it wont work. Why wouldn't it work with stolen DNA? The verification process would not require a full human to work. A tiny bit of DNA is all that would be needed. Remember, DNA is a simple code made up from protein base pairs. There are a lot of people that already deposited this to public databanks so these are even at risk as their genetic code is already fully accessible. DNA may sound cool, but in the end, after analysis it is a simple, though huge, list of code which can then be used to access coins. Uniqueness of your DNA is the point here. It is not like we copy a string of letters and that's all. It will map enough samples (real time analysis of you by hardware, device) of you to IDENTIFY you and VERIFY the authenticity of your claim "who you are". I understand, but Bitcoin provides alternative methods of evidence. For example, you can have a seed - my TREZOR has a written seed so that it can be accessed by my family if I die. People already leave directions to private things in their will, so why not Bitcoin wallets? Even if they didn't want to do that they could just tell a trusted member of their family. Furthermore, if you want to verify on this thread that you own a wallet, then all you have to do is sign a message with one of your addresses. So there's no need to compromise your privacy and potentially security by linking your wallet to an individual. You can even achieve pseudonymity when buying Bitcoin for fiat if you just buy peer-to-peer through a service like LocalBitcoins, so your point about exchanging with fiat is nearly invalid, especially considering mixers as well. |
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The fee is 1% using a bank account. I just set up an account with Breadwallet and bought $20 of bitcoin as a test. Funded from my savings account so it will take about a week to go through. Charged me $20.21. I could have used a credit card but didn't want to, not sure what the fee would have been doing that.
Fees with a credit or debit card tend to be super high, even if you verify your identity. Coinbase's fees are around 4%. These embedded services are always going to be more expensive than normal exchanges just for the convenience - companies feel that they can get away with it because people can't be bothered going to a real exchange. Just like with the Blockchain.info buying feature, people shouldn't be using it for anything more than a test. |
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The bubble is over. The price just dropped by about 600 dollars and has stabilised, so maybe the writer of this took a few hours writing it and forgot to check the price afterwards  |
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Bitcoin isn't the same as PayPal transactions or most other kinds of transactions.
In PayPal for example, you send money to someone, but that's just a number to PayPal. They can easily switch it back, so they're an "escrow" so to speak. As a business, that means that they take high fees as well, and some systems like credit cards also have extremely inefficient transactions, while Bitcoin is very efficient (current high fees are due to a lack of capacity, but naturally the fees would be low).
With Bitcoin, since the transaction is recorded in the blockchain, it's irreversible once it's been confirmed. Naturally, that breeds thousands of scammers because:
-Chargebacks are impossible
-Bitcoin addresses and transactions are very hard to link to individuals.
So everyone is going to be suspicious and sometimes rude.
It's common practice for trusted members to use escrow for selling/buying and collateral for loans. People will talk about building trust for loans but many people won't trust you anyway, since your trust and reputation could be worth less to you than what you could scam off people. Real trustworthy people will never ask for a no-collateral loan or no-escrow transaction unless it's small and their reputation is worth a lot more.
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that arbitrage on poloniex on the usdt market  100 dollars diff Bittrex USDT price is about $1.30. While most altcoins are going down, we could make money investing in a "tether" system... and we thought that the price was going way lower when it dropped to ~$0.92... |
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GDAX is just Coinbase's dedicated exchange. On Coinbase you can buy and sell BTC/ETH/LTC with USD, although transactions take a couple of days to go through (last I checked). Its meant for consumers and investors. GDAX is a complete exchange, targeted at traders, where you can trade between a variety of pairs (BTC/USD, ETH/USD, BTC/GBP, ETH/BTC), somewhat similar to a foreign currency exchange.
The fee structure for Coinbase's main site and GDAX are different.
so coinbase fees apply to withdrawing to your bank account or card ("cashing out") but the actual trading fees if you keep the money in their system (GDAX's) are much lower, right? Like around .25%? Yes. GDAX fees are here. They decrease your fees depending on how much of their volume you're contributing to the exchange - the aim is to try and increase the exchange's liquidity. |
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That is a good idea with the IP address. I will try that and update if I have any success.
Thank you for your comments.
Did you ever take any withdrawals (of any size) from Kraken/Cavirtex to a wallet that you still control? If so, you might be able to show them the transaction from their address and sign a message with the address that you withdrew to, proving that you are the owner of the account. They might have logs of which transactions they sent out. |
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only takes one wallstreet whale to pump BTC Err where are you getting your stats from? Last time I checked the Bitcoin trading volume is about 1.5 billion dollars per day. It would take one crazy whale to raise the Bitcoin price more than a couple of hundred dollars, especially considering that basically none of these people are willing to put >1% of their portfolio into Bitcoin. I sincerely hope that Wall Street aren't dumb enough to throw in money right after a price rise. They should have analysed the tech behind it years ago and made their choice. They can still buy in and it'll go further, but really if you're only looking for assets that already have a high price, you're probably an idiot. |
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It's impossible to generalise with these things.
All I would do is offer to accept Bitcoin, Litecoin or Ethereum and specify a USD price based on a certain site to protect against volatility.
When someone offers to pay in Bitcoin, ask if they're willing to pay in Litecoin/ETH and if not, accept payment in Bitcoin.
You're much less likely to sell it accepting only altcoins, since the fees of sending Bitcoin to an exchange, converting currency and then sending is much higher than the fees of just sending Bitcoin. Not everyone holds altcoins already, me included.
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I suppose you're looking for an exchange more than a wallet. Personally, I would withdraw all Bitcoin from exchanges as soon as you've bought/sold as much as you want. The purpose of Bitcoin isn't really anonymity, it's more to be peer-to-peer and not require trusted third parties. KYC regulations and the possibility of chargebacks for the exchange will typically mean that you have to verify your identity to any legitimate exchange. If you want no verification and no limits, then don't use a traditional exchange at all. LocalBitcoins is all you need. |
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fiat moneynoun inconvertible paper money made legal tender by a government decree. You can't create a new fiat currency system unless you gave banks and governments a real incentive to adopt this system. Bitcoin is already an alternative currency system and I'm not sure there's anything you can do in terms of fiat.
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You guys are so rich now. It's embarrassing. I hope you're giving to the poor.  i have to walk to the local bank on a daily basis (part of my job). there are beggars sitting on the sidewalks. i always gave them change. since december, when price rise started to accelerate i decided to give em more as long as bitcoin is rising. not long ago i had to start handing out € 5 notes which raised some eyebrows. last week i switched to € 10 notes. they must really wonder what kind of freak i am, because next week i will start with € 20 bills and if this sucker keeps rising there are still € 50 and € 100 bills. not sure what price level must be reached until i pull out the € 500 bill. but i am commited.  Good lord! How many BTC you have? Nah, forget the question. I hope you are already converting some of your profits to FIAT (or you already have enough FIAT/Real estate just in case shit happens) if you have already reached your "richness" factor. Congrats! It would be a better choice to convert profits into gold instead. If you don't need to spend it yet, the only thing you should convert to is something else that's stable and has a limited supply. Trading is fine but IMO when you're withdrawing significant amounts, spending or going for gold are usually better choices. |
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Yep, I've got my investment back and the OP added 0.001 due to a delay of a couple days. After djord's scam and ever, don't invest more than you can afford to lose. Scammers can pay. However, I respect Continuous for repaying and that he's not accepting large investments. |
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my answer is - hell no.
unless there's some sort of trustless derivative or massive scaling no one will be able to get in. it's already impractical to use. i don't believe $1000 fees will appeal to enough people.
By far most crypto is only bought and sold on an exchange, never to see the block chain. I'm pretty sure that at a certain moment, if there are sufficient regulations in place that exchanges are financial institutions like banks etc... and have settling layers between them (not even necessarily "crypto") that one could go on trading coins when all block chains stop. Nonsense. Bitcoin 24 hour trading volume is no more than 600,000 Bitcoin or so, leaving the remaining 15-16 million Bitcoin either off exchanges, inactive, or inactive on exchanges. Bitcoin could still be traded if the blockchain stopped in theory, but it would die eventually. Paradoxically, the main reason that the price could stay up for a while is because people wouldn't be able to transfer their Bitcoin to exchanges and sell - otherwise it would die nearly instantly. |
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Here's a good explanation, if you don't mind reading a long post. It will answer all your questions about bruteforcing a privet key by knowing a public one. https://bitcointalk.org/index.php?topic=961023.msg10511733#msg10511733In short, it's impossible. Do you think that if it was somebody wouldn't try to do it to one of Satoshi's addresses? It would be worth it even if you had to spend a year or 2 decrypting a single key. The simpler answer is given by itod: Problem is humans are vary bad at representing themselves how big 1852673427797059126777135760139006525645401028465198470121682610264290583909392 number really is. Illustration I've posted clearly explains that all computers which will ever be built can not collectively count to 1852673427797059126777135760139006525645401028465198470121682610264290583909392 before the universe colds up billions of years from now.
When we can't fully comprehend something ourselves, we might try and find meaning that isn't there. That applies to hacking Bitcoin wallets. If you're really paranoid and need full security, just keep the Bitcoin that you're not spending offline or use a TREZOR. |
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Here's how to do it: trade PayPal for some other form of value and then trade that easily with a trusted member on he forum.
Absolutely never do it directly. PayPal is reversible, so everyone will think you're a scammer and charge huge fees.
It's also against PayPal's ToS now, I think.
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