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5221  Economy / Service Discussion / Re: Is fairpumps legitimate? on: April 20, 2017, 06:23:22 AM
https://bitcointalk.org/index.php?topic=756764.0

It seems to be a quite old group, so if they are still pumping after over 2 years it has to be real. Whether it's worth it to pay the fee is another thing, as their pumps could as well be financed with these fees.

With Bitcoin and unregulated online businesses like those, they could be a scam or stop being a scam at any time.  Even if they're lasting for a really long time they could still be a scam.

They could even be legit but just be a site that follows another group which is more private and announces the pump when they do. 

No matter what their situation is, pumps and dumps are some really shady activity which you probably shouldn't be taking part in and for everyone who succeeds, someone else is going to fail (and there's very little skill in it, you could be dumping at the right or wrong time based on a matter of seconds).

Fairpumps is legitimate and actually uses a good amount of new tech to be able to ensure that no one is cheated when a pump is occuring, everyone is going to be on the same ground (in theory this is)

There is a high chance for people to be scammed during a pump as the owners or someone in power could be buying in small amounts beforehand. Though the entire process of (pumping and dumping) is a bad one anyway.

I would advise against doing it and stick to normal investing as you stand to lose a lot if you get in at the wrong time.

Good luck.
Real "fair pumps" are terrible because you're just going to end up bidding against people who are more experienced than you and potentially being too late or setting the wrong price or something.  About half the time you're going to fail from doing this.

Unless you can cheat the system, participating in pump and dumps is a bad idea (and if you can, you're pretty shady yourself).
5222  Economy / Speculation / Re: The Bitfinex situation - how long will it take? on: April 19, 2017, 08:07:28 PM
The only possibilities are "next month" or "never".  If it doesn't happen within about a month, I'll assume that it'll never happen and everyone should take their funds out.  To be safe, I think people who don't take their funds out are stupid, but it's okay because their loss will just help more intelligent people take their money out before it's (potentially) too late.  Suspended withdrawals and deposits - that's not a functional exchange because it means that Bitcoin can't be exchanged for fiat anymore.  With even fiat deposits blocked, it's very unlikely it'll be sorted with the banks.
5223  Economy / Economics / Re: The fiat-money bubble! on: April 19, 2017, 06:00:47 PM
However, gold's price for example is also not currently defined by anything - it's just based on its use as an asset.  I could give someone a gold ingot in exchange for a resource, but it would be expensive to take it from one place to another, and the same applies to Bitcoin.  Gold's intrinsic value is also actually lower than its price, but that's because it is something that people would reasonably put money into to protect themselves from the risk of fiat currency. This is what means that neither Bitcoin nor gold are in a bubble


You say that gold price is not defined by anything, but then is there anything which price is defined by something else?
Yes.  Stocks, investment trusts and pretty much everything else is based on the value of a company or something else which either has an idea or amount of business.  These things usually have intrinsic value from that idea or business, and if they didn't, the price would be in a bubble.

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And with what the price of the latter is defined then?
Stop using words that you think are clever in the wrong context.  You use "namely" in about 90% of your posts wrongly, I've seen you on all the sig spam threads.  Anyway, if you're talking about "anything which price is defined by something else" the answer is "anything with intrinsic value".

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If we follow this logic, we should necessarily conclude that there cannot be bubbles at all.
No, I'm saying that the reason Bitcoin isn't a bubble is because it can reasonably be considered an asset as well as a currency and that's part of its value.  The reason that it's an asset is because of scarcity - the same reason that gold has its value.
5224  Economy / Investor-based games / Re: [Legendary Investors] Get 20% On Every Investment [Legit&Working] on: April 19, 2017, 04:27:08 PM
I've got my first payment.

Transaction ID: 716c21348ed885af022734c5f18b1b1b22f87ed531dbf65b8baee3bf0deb1

Thanks OP.
5225  Bitcoin / Press / Re: [2017-04-19]Poloniex Will Conduct a Major Delisting of Altcoins on: April 19, 2017, 04:07:58 PM
Good.  They shouldn't have loads of coins listed.  Poloniex have always been appropriately selective about what coins that they list on the exchange so that they don't end up being like YoBit and just listing every scamcoin that comes along for the hype of getting some trading volume.  It's nice that all the meaningless pump and dumps on Poloniex are at least with coins that have a reason to exist.
5226  Economy / Economics / Re: The fiat-money bubble! on: April 19, 2017, 03:54:58 PM
A bubble in economics is when the price of an asset differs dramatically from its intrinsic value.  In theory, Bitcoin's intrinsic value as a currency is defined by how much of its value is for people who are buying it and selling it in order to use it as a currency.  Bitcoin's price, in that sense, is in a giant bubble because most of its price is a speculative investment.

However, gold's price for example is also not currently defined by anything - it's just based on its use as an asset.  I could give someone a gold ingot in exchange for a resource, but it would be expensive to take it from one place to another, and the same applies to Bitcoin.  Gold's intrinsic value is also actually lower than its price, but that's because it is something that people would reasonably put money into to protect themselves from the risk of fiat currency.  This is what means that neither Bitcoin nor gold are in a bubble.

However, fiat currency is also not in a bubble for practical purposes because it's also the case that people might want to spend it but they also hold it, and wait for things to happen to it in the future, and sometimes trade it.  So basically, neither is necessarily in a bubble, and it's very difficult to tell if a large price rise is a bubble or just an increase in confidence.  The only case when any of these things could be in a bubble is when there's a very dramatic price rise with little reasonable explanation, such as Bitcoin at the end of 2013.
5227  Bitcoin / Bitcoin Discussion / Re: BITCOIN NEWS TODAY on: April 19, 2017, 03:16:03 PM
I think smart contract is just a FAD, to me their is nothing special about it. What Bitcoin offers is freedom for all, people are losing focus of that
"Freedom for all" is just a term we basically use for Bitcoin's decentralised blockchain and the ability to have the responsibility for your own funds by storing your online funds yourself.  Ethereum, even though its development team and systems are pretty centralised, does offer the same thing but with the addition of features like smart contracts.  I don't think that a "currency" which is actually mainly for features like app development can really develop as a currency since that's not even the main reason for it to exist.
5228  Economy / Service Announcements / Re: Buy Bitcoins with SMS/Mobile on: April 18, 2017, 04:18:56 PM
The site looks pretty scammy.  Unless you explain how exactly you would be able to buy Bitcoin using SMS without having to reveal much more personal information, I'm going to assume it's a scam since it looks like you're just hoping to get everyone's details.  Especially since you posted the support email and later pretended that the system wasn't yours.

Super high referral commission is pretty sketchy too.
5229  Bitcoin / Press / Re: [2017-04-17]F2Pool Starts Signaling for Segwit in Bitcoin on: April 17, 2017, 11:57:02 AM
SegWit is leading right now according to coin.dance.  Seems that in the past 24 hours (I use recent time because F2Pool only started signalling recently) SegWit has been leading by about 7%.

To be honest I just think that Wang Chun doesn't expect anything to happen, and he's just signalling to placate all the people telling him to support SegWit.

Segwit has been infront of BU several times already, and each time BU gains back its leading position. In that regard, the lead of Segwit holds no value at all. Especially when you consider that Segwit requires 95% support. Reason for F2Pool to start signalling support might because they were suffering from a DDOS attack after an anti Segwit tweet from them. Either way, the situation remains the same - Segwit can't come even close to the 95% mark.
Clearly this not at all a situation in which BU can just overtake SegWit straight away again.  BU is mainly supported by the same group of pools and it has been consistently been that way for a while.  F2Pool signalling SegWit means that the support will be consistently higher than BU, just like how stable BU has been for a while.

Seems you're a bit out of date or you haven't been paying attention either.  F2Pool said on their Twitter that they would be signalling SegWit due to their user feedback supporting it.  I'm not sure if they'll stick with it or whether they think SegWit will happen either, but I know that they are legitimately deciding to signal SegWit right now and while they do, SegWit will be in the lead.
5230  Bitcoin / Bitcoin Discussion / Re: all UN memberLeader Agrred to accept bitcoin as International Currency on: April 17, 2017, 11:05:34 AM
So basically, you're wondering whether the price would go up if a giant global organisation unanimously decided to screw over their own respective countries by ditching their heavily regulated fiat currencies in favour of a currency which hasn't even existed for 10 years and is only practical for certain purposes.

Sorry to burst your bubble, but it's not happening.  And shockingly, the price would go up if it did.
5231  Economy / Scam Accusations / Re: A list of sacm and frod people also list of good on: April 17, 2017, 07:53:58 AM
Clearly you're putting money into a load of completely obvious Ponzi sites and then only complaining when they don't pay you.

What you don't understand is that a website with malicious intent - the intent of disappearing and taking the money of everyone who invested - is a scam regardless of whether or not it's paying you at that exact moment.

I wouldn't be surprised if your intent is to now post a load of other Ponzi scams which are paying and try to get people to "invest" money into it, maybe with your annoying reflink.
5232  Bitcoin / Press / Re: [2017-04-17]F2Pool Starts Signaling for Segwit in Bitcoin on: April 17, 2017, 07:35:08 AM
SegWit is leading right now according to coin.dance.  Seems that in the past 24 hours (I use recent time because F2Pool only started signalling recently) SegWit has been leading by about 7%.

To be honest I just think that Wang Chun doesn't expect anything to happen, and he's just signalling to placate all the people telling him to support SegWit.
5233  Economy / Economics / Re: Due diligence on: April 17, 2017, 05:25:06 AM
What are the trust sources out there that you know? When there is a new crypto currency project, there is the need to do the due diligence work before engaging with a project, for that reason I am asking for some reliable and trusted sources where anybody can verify how legit and honest a new project is.
An altcoins with zero pre-mine most probably a legit one, still there are lot of no-concept/copy-cat coins are being created with zero pre-mine just for pump and dump purposes (eth came with huge pre-mine still got famous).

A strong follow up and detailed study will help us to find out the legitimate of one crypto project.
Altcoins with a premine/instamine can be okay if they openly admit it and explain how it relates to their intentions for the coin.  If they don't explain that, it's safe to assume that they're just doing it so that they can dump loads on the market when it gets big enough for them to make a profit.

So to some extent, the key is transparency.  If an altcoin or other crypto project isn't offering transparency through things like open source code (if applicable).  

On another level there's the trustworthiness of the admin - if the admin is known to have done decent projects before then it's easier to trust him/her.  Sort of within that, there's also how professional the project looks - you'd think it doesn't matter, but if they make loads of typos they probably didn't put enough effort in for it to be worth your time.

For some things, transparency can be about transactions - for example, a crypto project showing all of the transactions that happen by doing them with one public address.  That way you'd know straight away when they scam you.
5234  Economy / Speculation / Re: YORK's price prediction topic. on: April 16, 2017, 04:57:33 PM
BTC STILL GOING SIDEWAYS AS EXPECTED.



Resistance ahead
I know your game York.  You make many posts in which you say a variety of things that you don't understand (in this thread alone you've misunderstood the scaling debate several times) and you contradict yourself in these posts subtly in a way that some people won't notice so that as soon as anything happens you can pretend you've predicted it.  When people check that, they look back, find the thing that you said that supports the event because they were looking for it and miss the opposite prediction.  Then they think you're great and they leave you a lovely little donation.

You can't do fundamental analysis, never mind technical analysis.
5235  Economy / Speculation / Re: What effect will coming EU regulations have on bitcoin on: April 16, 2017, 03:53:36 PM
My theory is that regulations never have a significant impact on the price unless they can be genuinely restrictive because there are two kinds of people affected by the regulations:

A: People doing legal things with Bitcoin.  They'll buy Bitcoin from an exchange, probably verifying their identity, and spend it how they want to in their everyday lives.  They won't care about the regulations.

B: People doing illegal things with Bitcoin.  They'll buy Bitcoin anonymously from LocalBitcoins or something and won't be tracked by the government.  Because the government can't actually find out about these transactions very easily and people will cover their tracks with mixers, they won't care about the regulations either.

So the only effect that regulations would actually have would be how legitimate people perceive Bitcoin to be, but even so it has an audience and isn't relevant to the mainstream.  Overall, who cares?

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If they do actually go ahead with it, all that will happen is that exchanges switch to the UK and Switzerland, as those places will be outside the EU.
The UK is still in the EU.  They've just voted to leave, and it'll happen in a couple of years after discussion and settlements with the EU, if they're lucky.
5236  Bitcoin / Bitcoin Discussion / Re: Big Banks Profit challenged on: April 16, 2017, 03:40:57 PM
Big banks are worried about losing their profits to fintech companies such as bitcoin startups.Regarding Santander bank,the profit loss could be 10%, a leaked memo shows.The document shows that the bank charges six times more than its fintech rivals getting huge profits by giving customers poor exchange rates.They do this rather than charging customers high fees directly.It seems that Bitcoin has started to achieve the goal of liberating people from banking sectors,for what it was created by satoshi.
I don't know where you're getting that "leaked memo" from, but Bitcoin startups won't be taking nearly as much of the profits from banks as you think they are.

It'll take a long time for people to start actually putting large amounts of money out of banks and into Bitcoin.  Even by any stretched estimates under 0.1% of people in the world are Bitcoin users, and most of those Bitcoin users won't have all or most of their funds in Bitcoin.  The banks aren't threatened yet.
5237  Bitcoin / Bitcoin Discussion / Re: If you have to pay 10% or 20% extra will you still be using bitcoin? on: April 16, 2017, 03:25:16 PM
Larger blocks wouldn't change how feasible microtransactions are in the long term.  Microtransactions have never actually been feasible on Bitcoin because the transaction size is changed by how many payments a person has taken in order to spend that amount of Bitcoin.  Transaction fees aren't only insignificant on large transactions because they're similar to the cost of smaller ones, it's also because people who spend large transactions are likely to receive them too, so their fees don't grow very much.  If someone was using Bitcoin as a currency though and 100 people deposit 0.001 into his wallet, when he tries to spend 0.1 it'll be inconvenient as hell.

LN might change it due to the possibility of offchain transactions for them instead.  But it seems unlikely that a consensus allowing it to happen would ever be reached, and even then LN would take years to be pulled out of beta and actually be ready for widespread use or be implemented.

The conflict here is that mining really profitably and getting far with it requires a person to be wealthy.  And since miners basically have the vote for a consensus to be reached, it's a collection of wealthy people which we're trusting to vote in favour of getting less money.  Unless Bitcoin mining wasn't based on profit, which would never happen, a consensus isn't going to be reached and the system isn't going to change.

So basically, paying for coffee with Bitcoin was just a gimmick.  It was never going to be practical in the long term and people who did it thinking that it would be were just following a gimmick in my view.  My theory is that the transaction fees won't get so much higher that it's impractical to do anything, but it will change Bitcoin's key audience to what it was basically destined to be - wealthy people and people transferring large amounts of money (for example, expats sending their money back home).  There are many situations in which people who were aware enough of Bitcoin would do this and use it as a digital asset.

The price will keep rising because people who put money into Bitcoin will be putting more and more in as they trust it more.  The actual user base and practicality is unlikely to change.

5238  Economy / Services / Re: I'll buy anything you want off the darknet on: April 16, 2017, 02:40:59 PM
There's a high risk involved in buying stuff on the darknet because most of them doesn't use escrow and I think there are lot of scammers also around. Plus we have no assurance if the item we ask to purchase will be delivered  to us. And all of the things inside the deepweb is illegal so think many times before making the final decision.
There are videos of cats on the dark net, they're not illegal.  The dark net is just a kind of domain on the Internet which isn't accessible without having special software (in this case probably Tor).

The majority of things on the dark net are illegal in the jurisdiction that they're made from, but that doesn't mean that the dark net is entirely illegal it just means that the dark net encourages illegal activity by being the best available place on the Internet for it to happen.

Equally, some people say that Bitcoin, when people manage to use it anonymously (which is sometimes), is used for illegal activity.  That's true, it's more convenient for illegal activity than digital fiat.  Doesn't mean that Bitcoin's purpose is for illegal activity.

Also, not everything illegal is immoral.  There's a big crossover but a lot of reasonable dissent about governments in certain countries is expressed on the dark net where it's free.
5239  Bitcoin / Mining speculation / Re: bitcoin mining startup on: April 16, 2017, 11:58:59 AM
which mining is best?? dash, lite coin ,bitcoin??
if i buy antminer l3+ for lite coin mining will it be a good choice??
You could try going on whattomine.com, who kind of figure that out for you.  It might be annoying switching between all the different ones though.  There's also selling your hashing power on Nicehash as amph points out, or you could mine on a pool that automatically switches between all the most profitable coins, like Multipool.
5240  Economy / Web Wallets / Re: Bitcoin wallet on: April 16, 2017, 11:45:20 AM
What is your bitcoin address? Can you post it here? You either have or don't have any bitcoins. There can't be any other explanation.
A Bitcoin address posted about a Blockchain wallet isn't going to achieve much.  I've had this problem before, the Blockchain wallet is a bit confusing about whether you have enough funds or not because their fee estimation is terrible and the wallet is pretty buggy.

There's not much to say that will help you, you can always set your own fee on advanced send and do the maths yourself to check if they're right.

EDIT: now that you've shown your address I can see that there's not a lot in it.  The Blockchain wallet is compiled of several addresses though, I get a new one whenever I receive so I don't know how it's showing that you've received so many transactions to that address.
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