Bingo! You just hit the jack-pot. This is exactly the point that I was trying to convey only a few posts earlier that makes sense. however, this also means that other (wall street level) traders will most likely skip bitcoin as investment tool, which is quite sad as these people have the wealth to move this market to reach prices we have never seen before. Let's assume, for a moment, that some high-profile trader bought half of all bitcoins currently traded. Evidently, he buys bitcoins only to sell them later at a higher price, i.e. to book profits. Now there is only half of the coins being traded, and the price expectedly spikes to new heights. Long-term Bitcoin holders happily cash out and the price drops back. And what is that Wall Street trader left with? If he tries to close his position, this inevitably causes the price to crash below the point he bought at, and he is left with losses early adopters, or whatever you like to call them, will indeed be a point of attention for any large investor looking to park a good portion of their money into bitcoin. that's assuming bitcoin stays in its current (small) form. if it somehow gets a playing field for plenty of institutional traders, just like how stocks are, then even the early adopters will run out of coins as the demand by these wealthy entities far exceeds the selling pressure coming from early adopters. maybe a far fetched comparison, but look at what happened with the apple stock. |
|
|
|
Bitcoin will never be broken because we use this as ecurrency and payment for a job or anything and stock limit
And also we use it for our real life to buy goods, services or to pay for bills and also it uses it for any company
thats why bitcoin will never broken..
I don't think bitcoin will last forever. In future, there's a chance bitcoin might disappeared and other cryptocurrency take over bitcoin place. We can't predict bitcoin would disappeared or not, because technology keeps evolves. nah, don't think bitcoin will ever be replaced by an other crypto currency. if bitcoin happens to be replaced, then it will be by something not crypto related. and i am fairly sure that it will come from a bank or government. Yup the future of bitcoin will depend on how Government views it, if Government will start supporting bitcoin then it will become more popular and it will reach to new heights in future. well, my point was more that banks and/or governments at some point will come up with something that may get the majority of the people to use that. one thing is sure, the average joe is ready to adopt anything coming from a bank or government. that's the advantage they have over bitcoin. that aside, bitcoin will never get supported by the government. just for the sole reason that it is something they can't control. everything happens outside their reach. that's pissing them off badly.  Even if Government don't support bitcoin there is nothing to worry as bitcoin is decentralized currency even Government cannot control it so bitcoin will never disappear. i honestly don't even want governments to support bitcoin. i prefer bitcoin to stay an alternative currency for people that are aware of its capabilities in the way of storing money outside the banking system, instantly sending and receiving millions of dollars without having to justify anything, and so on. it's freedom. |
|
|
|
Bitcoin wallets can be 10 times more safe than Bank accounts. Goverments are known to confiscate money if you don't pay your taxes and banks are also known for bankruptcy in which case you say bye bye to your money. On the other hand you can have a hardware wallet and keep your coins in the safest place  hardware wallets are just an optional tool. you don't need them in order to securely store your coins for the long term. all it does is adding extra costs while storing your wallet files in usb drives and/or printing out your private keys is free. with free i mean free in the way that people already have a printer and usb drives at home. that's how i store my coins. you actually need them because the bitcoins might be stolen from your computer if you have some viruses in it, i think banks will have no future need what? hardware wallets? if that's what you mean, then no. as i said before, it's just an optional thing. if i take myself as an example, my wallet files are all secured with a lengthy passphrase. even if my pc gets infected with a virus, and the hacker got my wallet file, then still nothing will happen. it's practically impossible to brute force it within a reasonable time frame (if ever). |
|
|
|
I'm singularly curious how they could "maximize" their money efficiently with bitcoins. Buy all mined and currently traded coins? And what's next? Just buy a few thousand bitcoins, sell them later and gain a few thousand dollars in profits? Would it be worth the effort given the scale of their operations (billions of dollars, just in case)?
These are all rhetorical questions, for the sake of clearing up things a little bit
Maybe maximizing is through trading and investing in a short period of time. But that would only happen if your investment will have a positive outcome and if not then you accept the loses. That's how it goes in trading right? And how much Soros would earn speculating in bitcoins, lol? In real life, though, Soros is playing with gold. Anyway you might look at this, but he has made his choice... So what are you waiting for? that doest mean gold is a better choice for everyone... Soro is a big fish and crypto doesnt have enough liquidity to deal with himBingo! You just hit the jack-pot. This is exactly the point that I was trying to convey only a few posts earlier that makes sense. however, this also means that other (wall street level) traders will most likely skip bitcoin as investment tool, which is quite sad as these people have the wealth to move this market to reach prices we have never seen before. |
|
|
|
I do not trade anywhere, but all my savings are on Yobit now. That is the same kind exchanger as Bitfinex and others. After the story with Bitfinex I am thinking to cash out my money, just waiting for the course of bitcoin will grow, at least on the same level like it was before Bitfinex hacking.
what? you are thinking to cash out all your savings from yobit? you shouldn't be thinking, you should act now and get your coins back to your own wallet. i don't even know why you still haven't done it once you heard bitfinex is hacked. isn't that reason enough to move your coins away from exchanges directly? |
|
|
|
Bitcoin wallets can be 10 times more safe than Bank accounts. Goverments are known to confiscate money if you don't pay your taxes and banks are also known for bankruptcy in which case you say bye bye to your money. On the other hand you can have a hardware wallet and keep your coins in the safest place hardware wallets are just an optional tool. you don't need them in order to securely store your coins for the long term. all it does is adding extra costs while storing your wallet files in usb drives and/or printing out your private keys is free. with free i mean free in the way that people already have a printer and usb drives at home. that's how i store my coins. |
|
|
|
the security part, and the post from DannyHamilton made me decide to not proceed with setting a manual change address. but when it comes to the privacy aspect, the change moving into a different address will remain there for quite a long time if you don't use the main address. so if i choose to spend 0.50btc where my main address contains 0.45btc, and the change address 0.05btc, will they both start moving at the same time, and thus be visible and link the change address to my main address as it will be too obvious? or is it also possible to just spend the amount you have in your change wallet where the coins in the main wallet remain untouched?
You can do that using coin control to select the inputs that you want to spend. Otherwise, the wallet will automatically choose which inputs to spend and it may end up linking your addresses. never knew that it was possible to go that deep into all the inputs so easily without actually needing to create raw transactions. thanks for making me a bit smarter this quickly. much appreciated. |
|
|
|
it is not a crash but it is normal because many miners abandon mining bitcoin while they moved to other profitable project so 400 $ by the end of this year is definitely possible price.
first of all, miners are not abandoning bitcoin. the difficulty change at this point is nearly 5% in the green. which means that if this difficulty is what the final increase will be for this period, that we're nearly at the same point as before the previous difficulty adjustment. miners abandoning bitcoin would translate into the difficulty going down and down. not the case, so i am not sure what makes you think so. |
|
|
|
Bitcoin will never be broken because we use this as ecurrency and payment for a job or anything and stock limit
And also we use it for our real life to buy goods, services or to pay for bills and also it uses it for any company
thats why bitcoin will never broken..
I don't think bitcoin will last forever. In future, there's a chance bitcoin might disappeared and other cryptocurrency take over bitcoin place. We can't predict bitcoin would disappeared or not, because technology keeps evolves. nah, don't think bitcoin will ever be replaced by an other crypto currency. if bitcoin happens to be replaced, then it will be by something not crypto related. and i am fairly sure that it will come from a bank or government. Yup the future of bitcoin will depend on how Government views it, if Government will start supporting bitcoin then it will become more popular and it will reach to new heights in future. well, my point was more that banks and/or governments at some point will come up with something that may get the majority of the people to use that. one thing is sure, the average joe is ready to adopt anything coming from a bank or government. that's the advantage they have over bitcoin. that aside, bitcoin will never get supported by the government. just for the sole reason that it is something they can't control. everything happens outside their reach. that's pissing them off badly. |
|
|
|
It is highly recommended that you do not do this as address reuse is not recommended.
If you are sure that you want to reuse change addresses, go to Settings > Options and then the Wallet tab. Check the box for "Enable coin control features". Then click OK. When you go to send, you will now see a box for Coin Control. Check the box for "Custom Change address" and then enter the address that you want to use as your change address. Then send your Bitcoin and the change will go to wherever you specified.
can you elaborate on why it isn't recommended to use my main wallet as change destination? is it more privacy related, or has it more to do with the security? and thanks, i found the option to set a custom change address. i haven't done it yet as i will wait for your reply whether or not it will harm the security of my address. It isn't recommended because it can both hurt your security and your privacy. By reusing addresses, people who pay you can easily see how much money you have. It becomes fairly easy to track who you are paying and how much. New change addresses also makes it possible to say that the change was going to someone else and not back to yourself; it allows for plausible deniability, something you can't do with reusing addresses. For security, using new addresses and never reusing addresses will help protect against any attack that would break ECDSA (any attack in which a private key can be found from a public key in a meaningful amount of time). When you spend, you are really spending to the hash of a public key. Once you spend the Bitcoin from that output, you will be revealing the public key in the spending transaction. This makes it potentially vulnerable to be cracked. However, if you always use new addresses, then your Bitcoin is still safe as by that time the public key is revealed and the private key cracked, the Bitcoin should already have been spent. the security part, and the post from DannyHamilton made me decide to not proceed with setting a manual change address. but when it comes to the privacy aspect, the change moving into a different address will remain there for quite a long time if you don't use the main address. so if i choose to spend 0.50btc where my main address contains 0.45btc, and the change address 0.05btc, will they both start moving at the same time, and thus be visible and link the change address to my main address as it will be too obvious? or is it also possible to just spend the amount you have in your change wallet where the coins in the main wallet remain untouched? - snip -
my main wallet
- snip -
Your main wallet is Bitcoin Core. A wallet is a collection of one or more bitcoin addresses along with the private keys necessary to spend the outputs that are associated with those addresses. The fact that you want to re-use one of those many addresses again and again does not make that address a wallet. I suppose you can make the poor decision to re-use the same address for everything, and then you could choose to call that your "main address", but you're going to cause yourself confusion if you keep referring to an address as a wallet. If you stop thinking of an address as a wallet or an account number, then the whole thing makes much more sense. Think of an address as an invoice number. You wouldn't re-use an invoice number to receive payments from multiple people. An address is something you give to someone to use once so that when you receive the payment you can identify who sent it and why they sent it. Your wallet generates addresses (invoice numbers) for you. You then give those invoice numbers (addresses) to people that you want to receive payment from. Those people then include that invoice number (address) when they pay you so they can be sure that you will identify the purpose and source of the payment you receive. When you send a payment to someone, you use two invoice numbers. One for the person you are paying (so they know who it is from and why it was sent), and one for your own wallet (allowing the wallet to track exactly when and why it received that change payment). The wallet keeps track of all the invoices that you've received payment on for you and can combine the values of those receipts when generating transactions to send. that's correct, yes. the main wallet is indeed bitcoin core. if i look at it from the point of being an invoice number, then it indeed doesn't make any sense to reuse it for different people. actually, that would be pretty dumb as you would lose track of important information. both you and knightdk thanks for giving me a wider field of sight. it's more clear now.  |
|
|
|
It is highly recommended that you do not do this as address reuse is not recommended.
If you are sure that you want to reuse change addresses, go to Settings > Options and then the Wallet tab. Check the box for "Enable coin control features". Then click OK. When you go to send, you will now see a box for Coin Control. Check the box for "Custom Change address" and then enter the address that you want to use as your change address. Then send your Bitcoin and the change will go to wherever you specified.
can you elaborate on why it isn't recommended to use my main wallet as change destination? is it more privacy related, or has it more to do with the security? and thanks, i found the option to set a custom change address. i haven't done it yet as i will wait for your reply whether or not it will harm the security of my address. |
|
|
|
|
for example, when my wallet has a balance of 0.55btc, and i want to send 0.20btc to a certain person, the remaining balance, or a part of it, goes to a different address (change address), while i want everything to remain in my main wallet. i know it's possible, but only not sure how to do it. i am working with bitcoin core 0.12.1.
|
|
|
|
Bitcoin will never be a global currency because you can't tax it.
In most jurisdictions, governments don't need to tax Bitcoin specifically, you just calculate an income earned and pay an income tax based on these calculations. Whether you are going to include earnings from Bitcoin operations in the said calculations is another matter. But this in no case exempts you from the obligation of paying taxes on this kind of income... If you get caught for tax evasion, you will be penalized as usual if you play it well, then you can basically keep your income from trading bitcoin hidden from the government for a very long time. the main problem is that the government shouldn't be forcing an exchange to release information about you. because you'll surely get burned as the exchange can't deny the government and tell them to back off. that's also a reason for me to use btc-e as they don't require you to verify yourself in order to start trading there. it means that this exchange doesn't have any of my personal details. |
|
|
|
Bitcoin will never be broken because we use this as ecurrency and payment for a job or anything and stock limit
And also we use it for our real life to buy goods, services or to pay for bills and also it uses it for any company
thats why bitcoin will never broken..
I don't think bitcoin will last forever. In future, there's a chance bitcoin might disappeared and other cryptocurrency take over bitcoin place. We can't predict bitcoin would disappeared or not, because technology keeps evolves. nah, don't think bitcoin will ever be replaced by an other crypto currency. if bitcoin happens to be replaced, then it will be by something not crypto related. and i am fairly sure that it will come from a bank or government. |
|
|
|
I sure banks will start to accept bitcoin in next time (about 5 years again). From start there can be one bank maybe from USA, and then another and so on. And bitcoin wallet will be in the bank through online web. once again just my oppinion
Fore sure banks have to accept Bitcoin, because in future lots of stores will accept Bitcoin banks will not accept something they have no control over. what's so hard about it to understand? banks and governments want to be the central point of everything. bitcoin doesn't give them that option. don't waste any time waiting for it, it will never happen. |
|
|
|
Was there any other reason for the price drop last week other than the Bitfinex hack?
If not I can almost guarantee it will be back up to $650 within the next couple weeks.
If I had a few thousand dollars extra right now I would definitely buy a couple coins.
There was not any other reason for the price drop last week other than the Bitfinex hack. Without the back, the price could be $700 now. Even price went down after bitfinex hack the best thing to see is price has started to rise slowly now and we can expect much higher price in next couple of months. The bitcoin price has already rebounded to $592 after the recent price drop. I think it will be $600 in the next few days. The price has stay at range $590-$595 for a few days sadly the gap only $5 it's really hard to hope get a profit. yes i hope soon can touch $600 I think $600 will be touched in next 1 or 2 days and its not difficult now, real satisfaction will be when again it crosses $650 mark and it is possible to reach in next month. the price reached the $600 level yesterday. to be more precise, bitstamp peaked at $603. right now it's waiting for a large buyer to pull the trigger. if this happens, then i think we might see another peak to possibly $610-$620 in the coming days. |
|
|
|
We may see price above 700$ again and only up from there. Market support is huge even 60 million USD worth of hacked bitcoin can be digested by the buy support i think.
i like your optimism, but for now i think it's better to focus on having the price settle above the $600 level again. if the market is over this hack drama, then we can see the price advance further. till that time people will remain alert and ready to sell. |
|
|
|
in case we lost internet connection all over the world then i would say yes bitcoin and all other online payment will disappear .
i can't think of a scenario where the entire world internet goes offline. it is however possible that a country, or a part of a country gets hit by a massive problem by one of the main isp's there, causing servers hosted there to go down, regular internet connections to stop working for a while, and so on. that's probably the most realistic scenario. having that said, bitcoin nodes and miners are everywhere in the world. so even if a country goes down, there will be enough miners and nodes in other parts of the world to keep bitcoin running. |
|
|
|
|
if you just look at the buying part, then you can say that it's nearly identical. in both cases you are buying and selling from an order book. however, with stocks you are forced to buy a minimum of 1 stock. you can't choose to buy like 0.1 stock, or 0.75, or 10.65 stock like you can with bitcoin. again, i'm just talking about the buying process.
|
|
|
|
not really spend on real life. almost of people here sell bitcoin on exchanger and then spend the money on real life. because of no place like your place that accept bitcoin as payment. and what a lucky peoples that have bitcoin atm on their country.
I live in a less developed country but I am not having a difficulty spending my bitcoins because I can easily cash out in my bank and spend it. I don't actually spend online to buy some stuffs but I do gamble most of the time, in overall I am satisfied with bitcoin in terms of currency. well yeah but you most probably cannot spend your bitcoins directly and it is not a good thing to be honest, i think that i will never buy anything for my bitcoins thats true, people usually are not able to spend their bitcoins to be honest and it is terrible, for them to spend it in real life we need more bitcoin shops there are alternative ways such as a bitcoin debit card to "spend" your coins. but that aside, having more shops accepting bitcoin is great, but what if people then again choose to keep holding/using their coins as an investment tool rather than as currency? good saying; you can bring a horse to a water pool, but you can't force it to drink. |
|
|
|
|
Show Posts
