Yes, BTC should definitely change and offer some kind of protection for both buyers and sellers.
I don't think that is going to happen anytime soon. Something like this is against the most important concepts of Bitcoin, which is designated to be a decentralized currency. Providing protection for both buyers and sellers is not the responsibility of Bitcoin. The marketplaces should do that. Well, then I think we have a major issue cause the number of scammers will be growing and the number of honest people will be reducing. This is exactly what s going on right now. Take a look at cloud mining for example. On every legit cloud mining operation, there s at least 20 ponzies and the new ones keep on emerging every day. Is this decentralization we want? Scammers at every corner? No, thank you, I didn't sigh up for this. Also, you cannot teach people to select the good ones only. I ve been reading about people who got scammed once and they keep investing into another potential scammy operations. Until one day they say, fck this, I am out. |
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Bitcoin has two major issues to overcome. The first is the fraud. People have lost their life savings to places like BTC trader and PB mining et al. All of the ponzi schemes and outright thefts scare people away faster than any media spun story about Isis or child pornography being related to bit coin.
Secondly, we have utterly failed to educate the public on the advantages of bitcoin. We talk about bitcoin technology and how it is the "internet of money" but as a day to day thing people know very little about it and even less about how to actually use it. I place blame primarily on the bitcoin foundation for that. They are supposed to be our voice to the world but all they seem to do is enrich themselves and allow corrupt individuals to create some token credibility by selling them memberships.
But apparently, what you are talking about the first point is evident to any currency that you can think of all around the globe. If you can give me a currency that is totally fraud-free or crime-free, then it is possible to end all fraudulent activities to all the currency available in this world. But sadly, it doesn't exist. It s not only fraud he s talking about. It s the ability to prevent and punish fraudsters. With Bitcoin, currently, this is extremely difficult. I consider this to be one of the major BTC weaknesses. WE NEED CONSUMER PROTECTION. |
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I got my first stake yesterday! Pretty happy about that, but I had a question.
I had 5k coins in one transaction that staked. It split the transaction into two 3.1k deposits (after staking). Why did it split it in two?
Also when I send coins to someone will it pick the youngest coins first?
Thanks ahead of time!
the splitting is normal, you can use coin control to recombine them if you want. select the blocks using coin control and then send to yourself. Yes the default settings will pick the youngest coins to send out. Using coin control you can pick and choose. To enable coin control. Choose Settings > Options in the menu bar and click Display tab in the next open window. Check the display coin control features box and OK to close window. Now choose Send coins tab and you will see a new coin control button just below. Click on that and a new window will open with all info about your coin blocks including weight. Wait, wait. Do we need to recombine our blocks? Larger piles should stake more successfully, in theory. Shouldn't wallet do the work of the most optimal splitting and combing by itself? I guess my question is, do we need play with the wallet or the best option s to let it open and staking? |
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People need to learn not to trust these ponzi cloud mining operations. This one was very easy to catch. No maintenance fee, flat rate payouts, no photos, no names. It basically says, send us your BTC and forget about it. Sorry for people who lost money there.
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Block payouts are behind again  Last paid 8 hours ago block 350555 Anyone else? or just me? Edit - blocks paid now... This happens from time to time but they always fix it. No need to worry about that. Hashnest is one of the most reliable cloud mining services I was ever in. However, some people used to say that for Amhash as well.  Hopefully all these verifiably legit hardware and cloudmining services have learned from AMHash and arent allowing a single person to control all the assets and have a better contingency and business plan in place. You do understand Amhash explanation s an ordinary scam. Another in the BTC world. How can you steal the entire farm and nobody noticing? That farm should be huge, really huge. It would take days to unplug it and move it. Somebody would notice hashrate going down. Two companies behind this and nobody notices this? I really do not think so. |
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A flat rate of 0.03per day, cool. I would consider giving up my avatar even though its the same one Satoshi used.
Made me smile, thanks for that. What does everyone think of my current signature? Yap, I also think this old one s better cause it s more colorful, I guess it draws more attention which should translate into more clicks. Regarding text, if you would like to underline the credit card offer, that s fine. |
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When New York started with the legislation regarding BTC they emphasized the need for it, due to consumer protection. In my opinion.. regulation can be done without having to over regulate it.
The problem is more with over regulation... that hamper the growth of innovation and you can see this with many innovative Bitcoin companies moving their operation abroad. {Outside of US borders}
Yes, with consumer protection we would have much less BTC scams. Why? Cause there would be a deterrent for these scammers, something they fear about and they would move to something else. I think this form of legislation is what NY had in mind and I would like to see that attempt to be successful. |
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I don't think its slowed down but I think there are too many people getting in nowadays hoping to "Get Rich Quick" and it simply isn't happening fast enough for them so they get bored and exit their position. So many people, so many threads (everyday on this forum) asking how they can "double my Bitcoins" and similar. Bitcoin is not some magic money that you can just pull some trick and multiply it. You wouldn't expect to start out with 20 US dollars and raise your capital without doing some kind of work, providing a service, or selling something. I believe the price of Bitcoin will definitely rise in the long-term but I think the days of huge increases overnight might be over, at least for now. As a result, these Get-Rich-Quick people are so eager to multiply their BTC that they invest in so many shady sites/people/operations in hopes of striking it rich without doing their due diligence. I.e.- Shady Cloud Mining operations that can't even provide proof of actual mining, Ponzi schemes, investing in brand new casinos operated by anonymous people that exit with the bankroll, etc. Then these people get scammed out of their money and get even more burnt out.
I personally don't think we need more regulations, but people need to remember that a Bitcoin transaction is irreversible, and if they can't trust who they're sending it to 100% then they shouldn't "invest". Bitcoin was created so that YOU could control your money, not a third party site or centralization. HODL your private keys.
That s the problem. Most of people, at least from the developed world, come to BTC from money transmitting industries which are quite safe and regulated. In other words, their money s been generally protected. Paypal, Payzaa, credit cards, banks, etc, there s always someone to call and complain if something goes wrong. Now, they come to a "wild, wild west" industry where they can be ripped off at any corner and there s nobody to complain about it. I don't think we should change behavior of BTC users, I do not think they need to get accustomed to this kind of scam free economy, I think we need to change BTC to resemble some of more traditional money transmitting industry, ONLY in terms of consumer protection. Wild, wild west s not good for BTC, I do not want to think "is it a scam" every time I see a new business opportunity in the BTC world and this is EXACTLY the first thing which comes to my mind. |
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Bitstamp s great. It s in the EU, it follows EU rules and guidelines, its owners are fully transparent differently from BTCe, it has had one serious hacking attempt from which they have successfully recovered and reimbursed any loses to their client. In other words, highly recommended.
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Bitcoin has two major issues to overcome. The first is the fraud. People have lost their life savings to places like BTC trader and PB mining et al. All of the ponzi schemes and outright thefts scare people away faster than any media spun story about Isis or child pornography being related to bit coin.
Secondly, we have utterly failed to educate the public on the advantages of bitcoin. We talk about bitcoin technology and how it is the "internet of money" but as a day to day thing people know very little about it and even less about how to actually use it. I place blame primarily on the bitcoin foundation for that. They are supposed to be our voice to the world but all they seem to do is enrich themselves and allow corrupt individuals to create some token credibility by selling them memberships.
+1 to this. I have a feeling that most of community sits on their hands and waits for the price to go up. This is not gonna happen without strong promotion and involvement of all of its members. Regarding fraud, I ve already stated my position about this. Bitcoin needs a system/agency/legislation which would provide a consumer protection function. In other words, somebody you can ask for help if you get scammed when dealing with BTC. |
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Seems like PayCoin is dying, the inevitable end is very soon lol Get out while you can.  Yes, looks like all the defensive buywalls got eaten and not replaced. I'm guessing it's ok to defend to a point but when you can no longer support a price then let if fall. Can't see many people wanting to but at 0.0018 so expect further falls until buyers come in. There weren't many over the last week hence the low volume, perhaps a sign that this was a supported price?  Looks good to me. The scamshitcoin will be priced at its true vaeyElue soon - which is less than 1 satoshi. Maybe 1 dogetoshi. shitcoin going to 1 satoshi........im sweeer Should I hold or sell? Dont have much but still, 1 BTC is 1 BTC. What I do not understand is if there is actually investigation against GAW, why is every bit of info so top secret. I thought USA is the bastion of transparency. Ok, so if they got them, how come there isn't any report about it, any conclusion. Cause if they scammed their clients, where is a solution for the problem, punishment? Do not get me wrong, I understand GAW scammed their clients but nothing s being done about it and as it seems now, they re distancing themselves from Paycoin. |
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I would put my money on Wall Street. The moment any of these investment funds starts operating and BTC start being traded on Nasdaq, you ll see interest going up big time.
Besides that, I see no other major event in immediate future.
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Well most of think the same way, this s not gonna happen to me anytime soon, right.
Your post did start me thinking about this issue, currently I have no system in place do deal with my BTC after I m not around anymore. My family knows about my involvement in BTC but none of them would know how to get my BTC, what are my passwords etc. I ll work on this.
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Hm. I would with 3.00% to 3.25%.
The last diff jump was quite high and I feel this time we should be a bit bellow that level.
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Hashnest and Bit-X. However, your ROI s going to be about 300 days and it ll require constant reinvesting to keep up with the difficulty growth. These s no more easy money in BTC mining.
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Well support has always been a weak point with hashnest, especially during holidays. But all in all, they ve been providing a great service, definitely one of the best cloud options I ve tried so far.
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Never, never, NEVER use online wallet. There s much higher possibility of these getting hacked. I would recommend Armory with its multi sig feature. Also, cold storage is a must have.
Trezor is another great wallet, but that one s a hardware wallet.
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Seems like PayCoin is dying, the inevitable end is very soon lol Get out while you can. Yes, looks like all the defensive buywalls got eaten and not replaced. I'm guessing it's ok to defend to a point but when you can no longer support a price then let if fall. Can't see many people wanting to but at 0.0018 so expect further falls until buyers come in. There weren't many over the last week hence the low volume, perhaps a sign that this was a supported price? Looks good to me. The scamshitcoin will be priced at its true vaeyElue soon - which is less than 1 satoshi. Maybe 1 dogetoshi. shitcoin going to 1 satoshi........im sweeer Should I hold or sell? Dont have much but still, 1 BTC is 1 BTC. What I do not understand is if there is actually investigation against GAW, why is every bit of info so top secret. I thought USA is the bastion of transparency. |
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Maybe my initial post is not clear enough. What I was referring to is actually legislation related to consumer protection. In other words, establishing a system where there is actually someone you can complain to if something goes wrong and that someone actually does something about it.
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I read an article by some analyst recently claiming that the presence of scammers and opportunists in BTC economy is actually a good thing since it signals the vibrant and growing nature of BTC.
Hm, I would prefer they find some other more vibrant economy.
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