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5461  Bitcoin / Legal / Re: Bitcoin Exchange Legality on: March 18, 2017, 07:23:05 PM
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.
5462  Economy / Lending / Re: newbie here need loan .01 btc (no collateral) on: March 18, 2017, 07:19:26 PM
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.
5463  Economy / Gambling discussion / Re: Gambling and Supertition on: March 18, 2017, 07:05:54 PM
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.
5464  Economy / Gambling / Re: https://1bitprofit.com on: March 18, 2017, 07:02:21 PM
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.
5465  Economy / Speculation / Re: Why the price of Bitcoin going down so fast? on: March 18, 2017, 06:49:14 PM
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?



Quote
Quoting Syndrome:
Quote
"*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.
5466  Economy / Reputation / Re: How to remove red trust from The Pharmacist & Mexxer-2 on: March 18, 2017, 06:45:08 PM
Quote
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.
5467  Alternate cryptocurrencies / Altcoin Discussion / Re: Monero under scrutiny of the FBI on: March 18, 2017, 06:30:27 PM
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).



Bullshit.

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 ? Wink

..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.
5468  Bitcoin / Bitcoin Discussion / Re: Where to Invest BTC? on: March 18, 2017, 06:25:46 PM
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.
5469  Economy / Speculation / Re: BU adoption causes another 20% crash for core. on: March 18, 2017, 06:12:12 PM
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).
5470  Economy / Investor-based games / Re: 2× Double Your BITCOIN | WORKING | PROOF on: March 18, 2017, 06:07:18 PM
This is pretty funny.  Not only are you pretending to offer a service which doubles your Bitcoins (which is impossible), you're even acting as if you're impartial by showing your supposed "investment" which isn't actually proof of anything!

Not to mention that you're posting on a new account and there are loads of maths errors on the site (the amount returned to investors claims to be more than double what they put in, even contradicting the scams which are presented on the website! It's lies within lies!
5471  Bitcoin / Pools / Re: The largest pools are a bottleneck for bitcoin? on: March 18, 2017, 05:39:04 PM
I conducted a study of the % rate paid by the pools to the miners.

Look, the usual pool takes 0.3-1%. The amount is used as payments on server bills and profit to owners.

A pool like the Antpool pays the miners up to 20%. This means that they work at a loss!

From this we can assume the following:

- They work at a loss because they are subsidized by bankers - supporters of Bitcoin Unlimited and special services (as you know, BU will lead to centralization and make bitcoin controlled as paypal)
- Sooner or later, owners of pools of extra-paid miners may not pay a reward to the miners

Owners of large pools to spit on bitcoin. They will pursue their interests.

My conclusions:

Do not support large pools! It's a scum! Time bomb for bitcoin!

Of course, this is unlikely to convince stupid Chinese miners (who are so stupid that they do not even know English) to switch to normal pools with honest conditions. I call exclusively intelligent white people to support pools with honest% and SegWit support! It is very important!

Please leave messages in this thread so that the thread hangs at the top and he sees the maximum number of miners! Do not allow the transition to BU!
Learning English is not necessary to be intelligent and most Chinese people learn to speak very good English in schools anyway.  This is extremely offensive and arrogant of you to assume that Chinese people are below you, seemingly out of spite because they own some growing monopolies in Bitcoin mining (good for them, while I don't think it's good for Bitcoin it's not like white people never gain profit from growing investments).  I think that your point would be made a lot better without racism. 

5472  Bitcoin / Press / Re: [2017-03-17]Could This Be The End For Bitcoin Unlimited? on: March 18, 2017, 04:55:21 PM
I don't think it's the end for BU because a lot of miners are monopolies in China (especially Bitmain) which for whatever reason are pretty desperate for BU to go through.  This results in a rise in more hashing power going to BU because then miners feel that they need to go with the majority of hashing power to find a scaling solution as quickly as possible.

However, it might be the end for BUcoin as a currency.  Being listed as an altcoin on exchanges and not being used for withdrawals will hurt its price significantly and a lot of the biggest money will still go towards Bitcoin Core Bitcoins, especially from those who are used to the older Bitcoin or that expect that coin to do better.  Unfortunately since nearly no one actually runs a full node, it's pretty hard for users to have a lot of say in what happens, but what this does mean is that BU is likely to fail even if the hard fork happens.
5473  Bitcoin / Bitcoin Discussion / Re: What type of wallet do you use? on: March 18, 2017, 04:43:31 PM
It's nonsense to limit yourself only to one type of wallet. In real life, you also don't have all your money in a single wallet. You have something in your bank account, something in your pocket, something in a porcelain pig and some part lies in your metal safe in the basement.
And that should be similar with crypto as well. You can keep some coins in a web wallet for everyday use, some part may be in an exchange, because you want to do trading and the rest may sleep as an investment in your paper wallet. To diverse your funds on more places also helps to improve your safety, because if your paper wallet burn, or your desktop wallet is corrupted because of broken hard drive, you won't loose everything at once.
This is perfect.  People need to take a different view of wallets because Bitcoin is genuinely a currency than can have everyday use rather than just being viewed as an asset to hold forever.

My advice for people's use of wallets is similar to my advice for their money storage in real life:

-If you're only interested in trading, hold a hardware wallet for storage at home and send smaller amounts to the exchange for use in everyday trading.  If you have smaller amounts, holding it in a lightweight desktop wallet would be fine as long as you're very careful about what sites you access.

-If you're interested in Bitcoin as an investment in itself and want to hold it for a long time, hold it in a dedicated hardware wallet, paper wallet or computer wallet and don't mess around with it ever, especially if you're holding large amounts.

-If you're interested in Bitcoin as a currency and want to hold large amounts, keep some of it in a cold or hardware wallet and leave some in a web wallet for convenient everyday use.  If you're holding small amounts, keeping it all in a web wallet is fine as long as it's quite secure and free like Blockchain.

There are so many uses that Bitcoin has and people always need to find different combinations for their individual situations.  I'm most interested in Bitcoin as a currency and for now only hold small amounts of it, which is why I keep it in my online wallet.
5474  Bitcoin / Bitcoin Discussion / Re: somone steal btc from my wallet on: March 18, 2017, 04:35:39 PM
I experience this kind of being hacked my account, in trading site though I have 2fa activated in my account still the hacker made a transaction or steal my btc. Ive realized maybe I click the link which is phishing site that hacked my btc. So for now, Im being careful not to view any link that will steal my btc. I suggest please be careful on your bitcoin.
I'm not sure how this is possible if you had 2fa enabled as the attacker would need to have access to your phone as well as your password.

It could be that you signed up to a fake trading site (the name is not mentioned) and that they then scammed you out of your Bitcoin, or that you accidentally signed up on a fake version of the trading site which you were trying to use with a very slightly different title, in which case they could have taken a deposit and took it to an external wallet, leading you to believe that you had been hacked.

It could even be that your click on a phishing link was on your phone, meaning that they infected your phone with a virus that was capable of finding your 2fa code as well as your password when you sign in to the website, but that seems incredibly unlikely and difficult to happen so I get the feeling that you made a mistake and sent your Bitcoin to the wrong site.

Still, you need to be more than "careful not to view any link that will steal my btc".  You need to be very vigilant and think about each link individually with virus and url checks etc.  You also need to have a system for spotting phishing links and a set of criteria for what a legitimate site is like and what information it provides.
5475  Bitcoin / Bitcoin Discussion / Re: 4 Things I Learned as A Bitcoin Holder on: March 18, 2017, 04:27:11 PM
Reading the article we can reach to the conclusion that Bitcoin is the currency to be invested. Use the biggest part of your money to buy Bitcoins and hold it, if you want to invest in another Crypto-Currencies use a small part of your money to do it. In the case of China, the country regulations can make the price fall or rise, that is important to observe also.
I don't think that this is the key message of the article.  The ideal thing to invest in may change and Bitcoin will just be a great currency, but the article is more focused around any long term investments you may choose to make, with its focus mainly being on keeping safe by never being naive enough to think you can just instantly become successful in this, and I think that many people responding to this post are being the naive people that he considers in the article - people who think they can tell you exactly how high Bitcoin is going to go when they can't say what it'll be tomorrow.

Nothing is 100% stable and people need to be careful.
5476  Other / Meta / Re: Hundreds of thousand of bitcointalk accounts hacked on: March 18, 2017, 04:21:23 PM
Most of those accounts are newbies. What are the benefits of hacking newbies?
Take a look at this thread where these newbie hacked accounts are used for trust farming/false trading.
https://bitcointalk.org/index.php?topic=1793966.msg18067586#msg18067586
That boomin guy is the latest (caught) alt of MariusTi aka steamproject aka tberty aka Dorkslayz etc etc who uses an army of dozens of alts to fake vouch or spam bump his threads of torrent invites (and he's probably had around a 100 banned). He either has a massive stockpile of them or buys them from account sellers but I'm more inclined to believe that he has just farmed/created them himself as there's a lot that were just used to make one or two posts to bump/vouch for his thread then discarded, though some of the older ones recently came back to life and started selling the torrent invites when a lot of his other accounts got found out and banned. This behaviour with him has been going on for years with him and not just on this forum either as he's been banned from numerous forums and never learns.

So you basically just agree that hacking (old) newbie accounts do have benefits for scammer's, and illustrating those benefits to scammer's.

Steamproject ran his thread nearly 2 years on bct. What exactly was he supposed to "learn" from that?
If he "just farmed/created them himself" he must have been around since July 31, 2010, 07:44:15 PM https://bitcointalk.org/index.php?action=profile;u=657

Weather or not Steamproject farmed those accounts himself or hacked them or bought them is a different topic, probably known alts thread.
The fact remains that hundred's of thousands of accounts are "hacked" by someone.
bct members are left in the dark over the scale of this, while mods say there is nothing that can be done, admin haven't even responded.







Nearly all of these accounts probably are hacked, but one of the key problems is that the forum is very hands-off so they're faced with the dilemma of finding out how to prove that these accounts are hacked without intruding on people's privacy.  It must be pretty difficult.

I suppose the main problem is the security breach from a while ago, which people are now exploiting because these dormant users never managed to change their passwords as they haven't been on this forum for a long time.
5477  Alternate cryptocurrencies / Marketplace (Altcoins) / Re: WTB Dash on: March 18, 2017, 04:11:23 PM
I really, really wouldn't recommend buying DASH now, but if you want to do it, this isn't the best way.

You should go to an altcoin exchange, the biggest of which is Poloniex.  Buying from people will only get you scammed, unless you're a scammer yourself, in which case you won't have a lot of luck here.
5478  Economy / Trading Discussion / Re: How do you manage ur emotions? on: March 18, 2017, 04:02:46 PM
I think that the main reason people make decisions too much based on their emotions is because they put too much money into exchanges.

If you take a big risk and you're not experienced enough to use your brain, it's inevitable that you'll sell at a pretty low point.

The key rule that needs to be followed to manage people's emotions is don't invest more than you can afford to lose.  That way, if you take a risky investment like cryptocurrency you can look at it from a neutral and logical perspective rather than your fear of losing the money you put in.  If you can't handle the heat or you're not experienced enough to do it, you shouldn't invest any significant amounts into cryptocurrency at all.
5479  Economy / Speculation / Re: Sub $1000, now what? on: March 18, 2017, 03:52:24 PM
With altcoins on the rise like DASH, I'm extremely worried about bitcoin. If bitcoin dies then confidence in all crypto coins die.


there will come a time when even bitcoin might die. But i highly doubt it will be any time soon.  Just do not panic and sit on your BTC. is just NOOBs buying fud and panic selling.

Noobs? Why wouldn't you temporarily swap depreciating asset for appreciating one? After the bottom is reached, you swap back and have more bitcoins.
But you don't know when DASH will reach its peak or when Bitcoin will reach its bottom.  I would even argue that DASH has already reached its peak of around $100 and is not being pumped so much anymore.  I think that the pumpers who have made it this high are trying to simulate a real rise by holding it up long enough for it to actually receive market adoption, but it's very unlikely to happen.

Bitcoin won't be on its way down for a long time, so why panic sell when it's at a comparatively low point?  The best place to sell Bitcoin was a couple of weeks ago and if I had owned more Bitcoin I would have done that anyway.

Regardless, people are talking about DASH as if it's on its way to Bitcoin but its market cap is many, many times lower than that of Bitcoin.  A huge amount of the problem is just that its supply is less than half that of Bitcoin which creates the illusion that its price is high when its actual market cap is still very low.

Ethereum is doing a LOT better than DASH and it will still never reach the same levels that Bitcoin is already at.

5480  Bitcoin / Press / Re: [2017-03-18] 6 Reasons to Run a Bitcoin Full Node on: March 18, 2017, 03:42:54 PM
This isn't exactly easy for most people to do.  The article claims that it's easy and that's it's as simple as downloading the most recent version of Bitcoin Core, but as the article later points out it requires over 100gb of your disk space to be dedicated to it (an amount which most people aren't willing to designate to one thing for slight benefits over a specific provider).  It also mentions that for practical purposes you need to keep your decent computer running pretty much 24/7, which is also impractical and people would need to take some serious backups of their expensive hard drive etc. 
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