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581  Economy / Economics / Re: Bitcoin is a stock on: July 23, 2014, 12:57:34 PM
It's green, it's round, it just fell to the ground.....is it apple, or maybe ball?
Drawing conlusions like OP is just plain and simple wrong. OP is comparing only properties that agree with his thesis, and not even mentioning ones that would bury it alive...
Low quality post just to create some FUD or something similar.
582  Local / Hrvatski (Croatian) / Re: Hrvatski (Croatian) on: July 23, 2014, 12:49:22 PM
Moze jedno pitanje?

Vidim da ce prodavati coin nekih 40-tak dana, nakon cega bi valjda trebao izaci na slobodno trziste. Nije mi jasno, iz kojeg razloga bi vrijednost coina trebala porasti nakon tog trenutka? Ono...tko je htio kupiti / uloziti, ulozit ce sada...nakon sto prestane prodaja....mozda ce se desiti onaj parminutni bubble na burzama, i to je to...tko proda, proda, tko ne, zajeb.
Il ti ima nesto drugo sto bi moglo, barem poludugorocno utjecati na cijenu....to da je pump and dump uopce ne sumnjam.
583  Economy / Trading Discussion / Re: Trading digital gift cards for bitcoin on: July 23, 2014, 12:27:20 PM
Only way you can be safer (didin't write "safe" on purouse), is to buy from long tim proven seller....or if you have means to physically contact seller (ie. if he fucks you up, you fuck him up  Cool )
584  Bitcoin / Bitcoin Discussion / Re: 51% Attack - Why isn't anything being done about it? on: July 23, 2014, 12:24:10 PM
This threat seems very, very likely at some point. The cost of an attack wouldn't actually be that much to pull off. Even a short term (i.e. much cheaper) attack could completely destabilize the faith people have in Bitcoin.

Are we just waiting for an attack to occur before actually doing anything?

An attacker that isn't motivated by money will eventually attempt an attack. This isn't an "if", it's a "when".

Some billionaire, inherited wealth rich kid could completely devastate Bitcoin for under $50 Million.

Some people love to wreck shit. Rich guys that love to wreck shit? It could get ugly.

Somebody console me. I want to be wrong. What am I overlooking?


What can we do about it? That's the nature of Bitcoin, you can't do anything about it, unless the majority agrees on something. And how is the majority being determined? By hashing power, that's the limiting factor and the whole idea behind Bitcoin!

Majority is easy. When hard fork comes, ppl will use version 1 or version 2. Version that has more users wins. No problem about it.
Problem is what exactly CAN be done? When you start digging into the topic, you find out that ppl had ton of ideas, and that every single one of them fails even in theory. This topic is nothing that can be fixed by anything shorter than "revolutionary solution", and we can agree that that kind of solutions don't come from day to day.
585  Bitcoin / Bitcoin Discussion / Re: 51% Attack - Why isn't anything being done about it? on: July 23, 2014, 12:17:26 PM
This threat seems very, very likely at some point. The cost of an attack wouldn't actually be that much to pull off. Even a short term (i.e. much cheaper) attack could completely destabilize the faith people have in Bitcoin.

Are we just waiting for an attack to occur before actually doing anything?

An attacker that isn't motivated by money will eventually attempt an attack. This isn't an "if", it's a "when".

Some billionaire, inherited wealth rich kid could completely devastate Bitcoin for under $50 Million.

Some people love to wreck shit. Rich guys that love to wreck shit? It could get ugly.

Somebody console me. I want to be wrong. What am I overlooking?


I had semi similar view about this topic as you untill i dug deep into BTC problematics. Thing is, it's not that noone is doing nothing, it's that noone can not do nothing. There are few ideas floating around that could not prevent but make it more costly to execute 51% attack, but they are very complicated and could have very negative impact on BTC. Dealing with 51% attack when PoW is in question is really really really hard. If it was any easyer, it would already be done.
If you really want to "console" yourself, i urge you to read some BTC documentation. It's not as easy to attack bitcoin eather....easy in like: oh look ill just spend this 50mil$ and BTC is gone. Nope...cant happen "just like that".
586  Bitcoin / Bitcoin Discussion / Re: Books on Bitcoin on: July 22, 2014, 12:53:55 PM
BTC is too young to have High Quality books as there are no real experts with long time expirience in it, as..well...BTC itself is not around long enough.
And yes...remotemass  is correct....coders will always saY: "Best book about bitcoin you can get is source code itself", and yes, i agree there is need for something like that.
There is a document that goes that path here: https://github.com/minium/Bitcoin-Spec
587  Bitcoin / Bitcoin Discussion / Re: Has anyone that stole BTC have been caught, ever? on: July 22, 2014, 11:48:10 AM
Yes. Sometimes hackers returned BTC under pressure of price that was on "their head" (for catching em, not killing or something like that). But i'm guessing those are very....very....very rare occasions. 99% of thefts go by without of any possibility of catching the thief.
588  Economy / Speculation / Re: Pattern Recognition 101 on: July 22, 2014, 11:44:54 AM
So bascly, first it will come slow drop down to 500's level, and than launch to the moon? I like that scenario!
589  Local / Hrvatski (Croatian) / Re: Hrvatski (Croatian) on: July 22, 2014, 09:13:28 AM
Kako ne prepoznajes Googletranslatorski? To je novi medjunarodni jezik koji ce ujediniti planetu....
590  Economy / Service Discussion / Re: PBmining - legit? on: July 22, 2014, 09:10:36 AM
No one knows a good Ponzi until the money is gone.
As i see it, you are making 2 bets with your money at pbmining.

The first bet is that pbmining is not a ponzi and the second bet is that the bitcoin price will rise.
 

First bet is out there, but second one is not, as you pay in BTC and get BTC back form them. No fiat involved in any way, so price of BTC does not matter.
Yes, you can say "But if BTC value rises, and i ROI only 90% of BTC back, i earned some money". Well no, you lost as you would have more if you didint spend it on PB.

There is second "bet"  that every PB user takes tho....diff. If diff jumps in crazy numbers, it will eat what you invested and you will loose no matter if they are ponzi or not.
591  Bitcoin / Mining / Re: Super frustrated!!! Mining in the summer, yay. on: July 22, 2014, 08:51:30 AM
Of course they are! 280x and i'm planning to sell 1 by 1 and replace em with 290x
I'm not mining BTC directly for sure. I'm mining of multi algorithm mining site which is switching betwean not only best coins, but best algorithms.
592  Bitcoin / Mining speculation / Re: Dell : Possible plans to enter mining sector on: July 22, 2014, 08:35:20 AM
It's the future of BTC mining, wether you want it or not. Entry level is getting higher and higher every day, it's harder and harder to get ASIC's for avarage joe and break even on top of that. In not so distant future, only large entities will mine BTC with profit....that's one place where BTC's idea of decentralization failed horribly.
593  Bitcoin / Mining / Re: Super frustrated!!! Mining in the summer, yay. on: July 22, 2014, 08:32:19 AM
My GPU's are doing just fine. Not having ALOT of them, but they all returned investment and are making me some money on top of it all day long. At the end i will just sell em to maximize profit and buy new / better ones.
594  Bitcoin / Mining speculation / Re: cex.io mining thoughts on: July 22, 2014, 08:30:15 AM
You asked about mining, than you said you earned by trading. So basicly you answered to yourself. CEX.IO is good for traders, bad for miners. There is no way you can break even mining there, but you can earn nice amount of BTC if you know how to trade....than again you can do it on any other BTC related exchange.
595  Bitcoin / Development & Technical Discussion / Re: Easy Steps For Making Your Bitcoin Address Safe! on: July 22, 2014, 08:28:33 AM
@OP
I truly hope you are not keeping your hard earned money in adress like that, as something that is generated by computer not under your control is as far from "safe" as it can get.
596  Bitcoin / Bitcoin Discussion / Re: 51% w/o 51% ?? on: July 22, 2014, 08:22:47 AM
I'm thinking PoW really needs decentralized mining to truly be safe.

You know, that's like saying: "We need to stop all the wars in the world and cure all diseases". Easier said than done.
597  Bitcoin / Bitcoin Discussion / Re: World Bank Report: Bitcoin is a ‘Naturally Occurring’ Ponzi on: July 22, 2014, 08:04:41 AM
They are confusing bitcoin and USD with their ponzi comparison  Roll Eyes
https://www.youtube.com/watch?v=iFDe5kUUyT0

I watched all vids from that guy. I'm not sure if they are 100% correct, but if they are, than...yeah....banksters calling even original dude named Ponzi, ponzi, is just hilarious.
598  Other / Off-topic / Re: How do you like this picture? on: July 22, 2014, 07:54:25 AM
Nice....now i wanna have gold or silver....no wait...i'd really really like to have platinum or titanium BTC coin...yeah, one of those two would be way cooler...but still...nice...
599  Bitcoin / Bitcoin Discussion / Re: bitcoin in pure gold on: July 22, 2014, 07:41:57 AM
Now that's smart investment. Spread around but still kept very close. Whatever happens, he has something that will have value in forseable future.
600  Local / Hrvatski (Croatian) / Re: Hrvatski (Croatian) on: July 21, 2014, 08:53:54 PM
Lol kako mislis "kako to misli"? Pa valjd amisli da je to jeftin trik kako doc do tudjeg BTC-a bez puno muke  Grin
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