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Double spending is when someone tries to spend the same Bitcoins in two different transactions at the same time. If the user sending you a payment is attempting to double spend, this means that they are not trustworthy and you should be very careful dealing with them.
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It's unbelievable all the people that think they have the magical solution to "Bitcoin" when they could easily make an alt-coin with Seg-wit, unlimited blocks, etc. Look, if Satoshi wanted the Blocksize to be 2mb he would have made it that.
Bitcoin is supposed to be a digital store of value, not some micro-transaction dust coin.
This is a strange fallacy and I think it rose from the common description of Bitcoin as "digital gold" which definitely no one described it at the start of Bitcoin's creation. Bitcoin was always supposed to be a currency. Satoshi would tell you that and he did, in the white paper for Bitcoin entitled "Bitcoin: A Peer To Peer Electronic Cash System". It really couldn't get much clearer than that. What Satoshi also wanted was for Bitcoin's code to be open source, which it is, and for necessary modifications to be made to it, which they are. BU is not a good modification to make but if the majority of hashing power supports it that will be what rightfully changes the code and creates a new version. |
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I think Bitcoin will stay the way it is often described, digital gold. Mined, traded, but not used for transacting on a daily basis. It lacks the capacity to process transactions fast enough to be a serious currency for daily use, another coin will take that place. One with a much lower value, higher availability and less of a focus on being 100% peer to peer with every part of the network untrusted.
The mining process should not be rewarded by the creation of money, but rather rewarded with small fees on very large transaction numbers, and the unit of value will need to be created at any point to allow other currencies to be moved into it, but only by trusted parties with witnessing and consent.
But I think that a large amount of Bitcoin's price increase has been based on the hope that it could one day be used more frequently for transactions and that it would be capable of doing so. Other coins will usually not actually be any better than Bitcoin, the illusion of this would just be created through the low volume of transactions that those smaller coins are actually used for. |
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in no distant time btc is taking over paypal. Paypal used to be the most trusted but are now losing trust from its customers due to insecurity issues.......
Insecurity issues? What issues are you exactly referring to? PayPal is seeing its user base grow quite rapidly, so I seriously doubt they are losing trust. If you make certain claims, then at least provide some details to back up your claim, because as it is now, there are none, and thus your claim of PayPal having issues hold no value. I agree. I don't condone PayPal and definitely don't believe that it's an ideal payment method, but PayPal is generally doing pretty well right now. I think that this shows the misconception that because Bitcoin is doing well, other payment methods must be doing poorly, which is certainly not the case. Bitcoin is still only a tiny fraction of the market and PayPal offers a convenience through its centralisation and use of fiat currency that Bitcoin cannot realistically provide despite the optimism of many of its users. |
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Generally I think that miners tend to consider their profits and the popularity of the pool more than the affiliation of the pool. The pool/company on the other hand usually makes the decision based on what they think will gain them the most profit in the long term, or in the case of the more principled pools, what they think is best for the Bitcoin network (and often these two things will be related).
However I think that miners should have a little bit of principle here, because there are several pools of similar specs which have different affiliations and it should not be a problem for miners to swap between them.
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I would be well into the positive with making money on Bitcoin, but I was unfortunate to get my money stuck in Cryptsy when the shut their site down. I'm still trying to get back everything I lost.
Investing it anywhere involves a huge risk and that is the reason I fear even to invest on trading sites as I lost few bitcoins in bitfinex hack which occured last year so I have a big fear of investing bitcoins anywhere so I prefer to keep them safe in my wallet. Unfortunately even wallets are sometimes not safe as it is fully reliant on either the web wallet's security in the case of web wallets (which are just as bad as exchanges security wise) or partially reliant on a third party and partially reliant on you. You could even not be reliable at all, as your computer could get infected with malware, crash without a backup, or a whole host of other things. The same applies to fiat currency but it's very annoying how difficult it is to stay safe with a currency which by nature should be quite secure. |
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Yeah, but while true, this statistic was clearly chosen as a means to promote hyperbole. We, and they, seldom use the market cap to describe Bitcoin's value or price. You could talk about Bitcoin's value falling by $100, but they chose $2 billion to sound like Bitcoin is failing.
Generally, considering just before the start of the year Bitcoin was trading at around $800, it's pretty impressive that it still hasn't fell back to there yet for a good three months despite the threat of hard fork etc.
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I'm not sure what you mean. Nothing on the blockchain is "legally enforcable", because Bitcoin is not a legal currency in any country and the addresses are pseudonymns which can't be linked to individuals.
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Probably not, but if you have an investment size of >$50k you might be able to for less time than that as long as you have a backup plan (a secondary job or skills that could warrant one).
You need to understand that every 4 years block rewards will be cut in half, which will result in your profits being more and more reliant on transaction fees which will vary depending on various factors related to the network.
However, you mention that you have free electricity on another of your posts, and that's a good start.
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for me Trezor is the best hardware wallet around
I have to admit that I don't have any other wallets to compare,but trezor satisfies me perfectly
it has all the functionality you will ever need,it is more expensive than the most of the wallets on the market
but it definitely is worth the money you spend on it!
if you have 100$ do not hesitate and buy trezor,you won't be disappointed
I agree, TREZOR seems to be the most trusted hardware wallet by far, and it mentions its use by major Bitcoin exchanges. It's immune to viruses and is perfect for security as well as being quite convenient. |
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I think the digital currency trading as altcoin and bicoin not have rules about age restrictions, but for the security of your wallet better use the original ID to be verified, to anticipate if there are improvements that require ID verification system
yes there is no age limit in using or trading bitcoin or any other currency but still i will like to say that the children who are under 18 they should first complete their study and when they become free then they should try to invest their money in trading bitcoin and alt coin. Yes true, bitcoin and altcoin are the same as real money, anyone is free to earn, save and use. The most important is do not use it for illegal transactions such as the purchase of drugs, weapons, and more. Yes but actually gaining Bitcoin is a different matter. Unfortunately you can't really use exchanges as nearly all them try to verify your age in some way and if you were found out it would be a problem. I think that most altcoin exchanges don't actually verify your age, whether or not they suggest that you should be over 18. In that case, you could buy Bitcoin with a debit card (which services occasionally allow without ID for small amounts), or an altcoin if that's more convenient and you can keep away from scams, and you could trade it pretty well. In the spirit of Bitcoin's privacy, most services won't verify your age and you should be OK. |
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The legality of Bitcoin exchanges is very hazy in a lot of countries, but generally they are legal and not too heavily regulated.
However, some exchanges (such as Coinbase) have introduced some pretty draconian measures for verifying your identity and this could be interpreted as the American government acting harshly as Coinbase mostly operates in America.
Most exchanges are OK when dealing with small amounts, especially the major normal exchanges (Coinbase is a tad unusual), like Bitstamp or Bitfinex.
You are right in saying that Bitcoin is seldom classed as a currency by governments. Usually it is classed as an asset/property and due to that it is regulated less and arguably this makes it more convenient to do Bitcoin transactions.
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bitminer.io is just a HYIP site, asking money to deposit there is never a wise idea unless you want to lose your money. oh wait, its not your money you want to deposit -_-
Pretty sure bitminer is even worse than that, it's some kind of selective scam which pays out systematically to certain people in a bid to sustain its legitimacy and appeal to naive newbies. Seems like just the title here should be enough to put off just about any potential lender. |
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A lot of gamblers grossly misunderstand the concept of probability and its relation to gambling, such as the belief that if they have lost a couple of times they're more likely to win the next or vice versa. I find that some even believe the opposite, that they can have a "lucky streak" and that if they keep going they can keep winning, but what they don't understand is that the house will always win in the end no matter how big their wins are so they need to pull out as soon as they start for their own good and not take their wins in the short term as evidence for the future.
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Well the interface is pretty smooth and the faucet is nice, but is it provably fair? When was this website created? Any other details about ownership etc that are needed? For all I know this could be a quick scam site to get some investments.
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Ok, I'll try to make a good post. ///// General points: //////1st. The news. Like it was happened before and before AND BEFORE, AND BEFORE AGAIN, everytime BTC reach a high value it gets massive news coverage and everytime this happens BTC price falls by at least 10% and doomsayers start spreading "the death of BTC... again" 2nd. The news about the Hardfork, but it is not affecting the BTC as much as people think, trust me, most people don't even know what is a Hard-fork, but it does help to generate fear, wich leads to our third point. 3rd. PANIC! PANIC! PANIC! The price goes down and the public emotions runs wildly, wich generates sells wich generate an even bigger drop on price. ////// Specific and very important points: /////1st. The rise of altcoins, SPECIALLY DASH, say what you want, people in general don't know the past of this coin, and most of those who do, don't care. DASH is proving to be a very strong coin, with probably the best interface of them all, very user-friendly, and covers a big number of flaws of the standard BTC. Monero is another big contender, and altough ETH has been alive for a long time it was not designed to be currency and will probably be on the shadow of better alts forever. 2nd. The steady loss of Market Dominance of BTC, don't be fooled, BTC is still THE king, no exchange tomorrow will stop using BTC as the major trading currency, remember that at the end of the day the alts are still alts, but this situation is pretty much showing the future of BTC. I mean... when (YES, WHEN) BTC loses Market Dominance, what it will have that others don't?Quoting Syndrome: "*Everyone* can be super! And when everyone's super... [laughs maniacally] ...*no one* will be." Damn, that's a pretty solid post. But I have to disagree, DASH only has about 15% the market cap of Ethereum and is by far inferior to either that or Bitcoin. There are very few actual technical explanations available as to why DASH is genuinely better than any other major cryptocurrency, especially considering all the different currencies that are created every day. You argue that DASH is proving to be a strong coin, but DASH has existed since 2014 and has not risen in value at all whereas now it's suddenly been pumped to a ridiculously high price. |
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No, I try to trust as little people as possible. I asked these questions because I pondered whether I should leave a negative rating as well or not. I think I dont, but I also seen no reason to contact mexxer-2 to remove their rating. All in all I think its a bit early for iqbal26 to become escrow, but if people are willing to trust them, let them. As iqbal26 said, they mostly want to be an escrow for their local section. Thus something like an ID or (verified) address/phone number/etc. can hold value and offer security beyond the forum.
yes i can give my ID or car licence with watermark if thats can remove my neg trust. I'm not sure that giving your ID would be a good idea on a public forum with people that are good at tracking your identity. It would be very bad for your security sending it to anyone, especially those who might not be trustworthy themselves. |
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They probably already cracked Ring CT they are just letting the web thicken before busting everyone
Cracking crypto is not that easy if it is well designed. Crypto is not "software". It is mathematics. Cracking Pythagoras' theorem is still not happening. (ok, I'm joking somewhat). I am a cracker i would know. It all revolves around computers. Then as a cracker you look for a weak spot and exploit it.. WHAT does not matter. For example dumb fucks like to say ohhhhh well you can't crack my algo.. Who gives a shit ! If you can go around the wall then... And computer crap is proven to be insecure. Trusting a system is dumb.. none are trust worthy. History proves this loud & clear. Where is that next buffer overflow or SQL injection ? No one knows LOL And easy Dino boy ? Are you the fucking NSA ? You should be quiet Dino. hahahhah We're not talking about some 14 yr old kid in his basement on his own. We are talking about a country that has unlimited resources. You SHOULD know that too but you are playing dumb and spewing poor quality Monero defense rhetoric to defend it. And you can't deny it because i just quoted it. And i know you will because all you do here is play games galore. I think the community here sees your a little dreamer with your head in the clouds. If you want to appeal to these guys you should work on being realistic, practical and.. honest. Dino.. "easy" ? Who gives s fucking shit.. all it takes and all that is needed is ONE hack incident. ..like their gambling site LOL Maybe you should read your dev pony's rhetoric ?  ..but I really think the lesson to other operators is not to be overconfident in your code or in your setup. Everything can and will be compromised, so assume it's going to happen and put safeguards in place to handle that eventual scenario.
Everything can and will be compromised, but there are hundreds of cryptocurrencies giving their best shot at anonymity and more are being created every day. People who want as close to anonymity as they can get will always know that it's very easy to just convert some of their Bitcoin to this new anonymous currency and then leave no trace as to where they actually sent it. Maybe to some extent it's a good thing in that it takes authorities' attention away from Bitcoin, which is widely used on the dark web anyway, and instead focuses on what they will always be focusing on anyway. |
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Trading and exchanging are some usual investments for Bitcoin but you could also try something different like investing in art, shares, maybe some profitable local start-up. These are not usual and tipical investments and they are more complicated to performe but the profit could be bigger and even more secure.
I'm not sure that any of these would be effective in the practical sense, because generally not a lot of these startups are genuinely being created regularly. Most decent Bitcoin investments are solely centered around digital goods or Bitcoin's use online. This may change in time, especially with the moral values of some musicians and artists who may polarise around the use of Bitcoin and we'll see if it becomes a good investment then, but for now I'd say that investments like casino bankrolls are probably the best if you have a large amount. |
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To be fair, people aren't always right.
All this actually shows is that a lot of people believe that the BU split will mess up Bitcoin, not whether it actually will, and posts like this might even compel more people to sell, so it becomes a self-fulfilling prophecy.
We don't know what the effect on Bitcoin will be after the split - it might even be that Bitcoin does a lot better because of the investments beforehand from people intending to either dump the BUcoin or Bitcoin and move to the other one (the hyperbole will get through to people on different sides to make different investments).
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