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Also an important factor, though still a bit taboo to talk about is the fact that there's an entire underground economy that's literally dependant on Bitcoin, which fuels demand tremendously.
Just think about the amount of Bitcoin in SR1's wallet....
So combine the reward halving with a steady demand that's only going to grow (in my opinion) and it seems inevitable that we'll see a steady price increase in the future.
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The trades should be reversed as people should know that they need to be real. If an unimaginable price comes up, just wait till the error is corrected. Yes, a person needs to be careful but if he has made a mistake, he has the right to correct it as well.
Some of the reversed trades were in the $400-$500 range. Hardly an "unimaginable" price. I bet you won't feel the same if you were one of the counterparties. We need distributed exchanges or some other technological means of doing irreversible trading. This is the only way to make the exchanges fair. If human judgement can step in to "correct mistakes" there will be opportunity for crony capitalism. We don't need more rigged casinos... massive agree. how do they know this wasn't just a fishing expedition gone wrong, you know post a massive market buy to check if there are dark walls... these games need to stay in the HFT arenas, decentralised exchange, wouldn't that be interesting. Indeed, at first glance it seems like a positive thing to reverse a trade like that, but intervening in the exchange like that is generally a bad idea. |
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If I may ask, is it possible that the current price of bitcoin has already factored in the halfing? And I mean this in an efficient market hypothesis kind of way. I don't pretend to understand bitcoin fully, but this halving is known well in advance.
It could be that there's already a certain hype surrounding the next reward halving, but I think the recent price increase was more due to some positive news from China and possibly EU labelling Bitcoin as a currency. I think it's still a bit early to tell, plus I would assume that the price will rise the most after halving, not before... |
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Sitting in 336 for almost 10 minutes now.  This is the first time I saw no movement even @ $1 for that duration. i saw it plenty of time at 230 mark now it seems that 300 is very storng, will not fall easily, the trend is shifted, and a new range is discovered, probably the same as before but with a 3 at left instead of a 2 I'm also quite optimistic, seems like it's going to hover around 300 - 350 dollars. I must say that this kind of market that we're currently seeing is ideal for day trading. |
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Solar mining is a good thing... If you've already had your investment in solar equipment back. ROI on mining equipment is hard enough these days, let alone installing solar power + ASIC's and trying to ROI for both  With solar mining, we need back up battery or mains supply to supply electricity when there is no sun shine. The battery is expensive. It is difficult to make profit long term if you consider the life time of the battery hence extra cost. You can avoid that with a grid tie inverter, so you switch to the regular power network when there is no sun. Edit: Oh, that's what you meant by mains supply, didn't read properly |
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I am only worried that corporations are only interested in blockchain technology but not bitcoin or cryptocurrencies.
It goes hand in hand. Any development or services running on blockchain can also be implemented in the bitcoin blockchain, which is already fully up and running with a large userbase. It only helps the current devs to get more useful stuff out at a fast rate. Indeed, and most news surrounding innovations regarding blockchain also mention Bitcoin, which is always good promotion. |
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I don't mine, I use faucets. Much easier.
Just out of curiosity, how much do you earn by doing that? Can't be much, right... |
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based on my observations, it seems that only somehow profitable way (over buying bitcoin directly) is to run some Chinese mining farm next to energy grid with direct contact to ASIC manufacturers.
home mining is definitely dead for majority of world because of electricity expenses. USB gadgets are fine to play with cgminer and linux, but they will not even ROI..
You're forgetting about people who have solor power, here in Belgium it's quite common for a middle class household to have solar panels due to huge tax benefits in the past. and those solar panels in Belgium are available for free? Solar energy is not for free, it is stupid illusion. You have to pay for panels, mounting, cables, inventor..ahh and return of investment is about 20 years, even with European union support to clean energy and various grants to photovoltaic. They are were subsidized in the form of a tax break and you also sell back excess power, the state also subsidies that, so they pay you extra per kwh on top of what the energy company pays you. Initial investment for me was around 15.000 euros, but I got a nice tax return 2 years later, might seem like a lot but nothing a small term loan couldn't solve. I remember back then, companies were even offering to place solar panels on your roof for free and let you use their excess power, if you were lucky enough to live at a certain location. |
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based on my observations, it seems that only somehow profitable way (over buying bitcoin directly) is to run some Chinese mining farm next to energy grid with direct contact to ASIC manufacturers.
home mining is definitely dead for majority of world because of electricity expenses. USB gadgets are fine to play with cgminer and linux, but they will not even ROI..
You're forgetting about people who have solor power, here in Belgium it's quite common for a middle class household to have solar panels due to huge tax benefits in the past. |
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For me personally it would still be viable to buy my own mining equipment and make a profit, especially with the current prices of Bitcoin. But this is mostly because everything in my house runs on solar and I wouldn't have to pay for electricity. Plus I rented a miner a few days ago on Betarigs and made a small profit, so that in itself shows me that it can still be profitable for the little guy |
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It's never too late to create a blog about *any* subject.
Just put a lot of effort into your articles and make sure to add unique content that provides value for the reader.
The quality of your content should always come first in my opinion.
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Excellent tutorial, going to test this right away I've always been interested in how mining pools are set up |
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There are also a couple of tumblers available on Tor:
bitblendervrfkzr.onion --- Bitblender
foggeddriztrcar2.onion --- Bitcoinfog
grams7enufi7jmdl.onion/helix --- Helix
Note that you need the Tor browser bundle to open these links or use a Linux distribution which has Tor preinstalled such as Tails.
I hope it's allowed to post these onion links here, I'm not trying to promote any illegal activity, just to be clear.
There are many legitimate use case scenario's for tumblers and Tor adds an extra layer of anonymity, if set up right.
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I sold some when it hit $400 and used some bitcoins to pay my phone bill etc. Pretty handy that I can pay my phone bill with Bitcoins  |
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You can indeed try the currency exchange thread or the loans thread. Or you might be able to find someone on http://www.paxful.com Currency exchange is one of the easiest ways to get more BTCs. And i agree that most banks will give you a loan depending on your credit history for buying BTCs. Oh yeah for sure but without any trust, I find it easier to just look on Paxful. There are usually some traders there who are willing to deal with new customers without verification etc. |
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I'm looking forward to selling quite a bit in 2016 when block rewards halve.
I think it's great that we're seeing these mini bubbles, it sets the tone for what's about to come I think.
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I dunno, seeing how the EU just updated their stance on Bitcoin, I think we're well on our way to seeing Bitcoin become mainstream.
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I had transactions of very small amount sent 3 days ago not confirmed so I am thinking this is true.
They were for 0.03mbtc so they were maybe too small to be sent during this testing time, this I am not too sure of. There are 3 of them and I do not think I will receive them any time in the future.
Did you include a miners fee? That could be the problem... |
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It looks extremely fishy to me... Just do a Google search and you'll find scam reports...
You can always try Coinut, link is in my signature, I've had no problems with payouts.
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