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601  Economy / Gambling discussion / Re: Cricket match prediction discussions on: December 18, 2016, 12:14:23 PM
Day 3 stumps  , India trail by 86 runs . Rahul dismissed at 199 , heart break for Indian fans Sad He played so well and went for outside off ball and a simple catch . This match is gonna end as draw if England play sensible cricket on day 4 .

Draw looks like the most likely outcome of this match. If India score some quick runs on Day 4, they can still push for a victory. The deficit is only 86 runs and India can knock that off before lunch, if they don't lose wickets. Then one session of quick hitting can put pressure on England.
602  Economy / Economics / Re: Banning Usury will promote cryptocurrencies on: December 18, 2016, 12:12:06 PM
Usury is not about not charging interest. It is ensuring that the interest charged is not exorbitant.
If you think of an interest-free, debt-free world, you are living in a fool's paradise. This is not going to happen, whether Bitcoin succeeds or not. There are always those who are in need of money and there will be others who are ready to lend for a small price. There is no case for "banning" the transaction between the two.
603  Economy / Speculation / Re: Will we start new year in $800+ or remain in $700+ on: December 17, 2016, 06:22:23 AM
Every holiday season price is going up but i think we cant see $800 by the end of this month. Maybe next year would if theres no incident again that would cause the price to fall after the holiday.

I'm not sure about the above quote. I personally feel that we'll start the year from $800 or more. We are getting closer to the expected margin. At times steep increase in price makes it easily achievable. But achieving a $200 and more variation within an very short period to reach $1000 is highly impossible.

With the price crossing $790, it would be very pessimistic to expect to begin the New Year at anything less than $800. Right now, I think $830 is on the cards for Bitcoin. This holiday season is really the time to celebrate.  Smiley
604  Economy / Economics / Re: How stable will bitcoin be? on: December 17, 2016, 06:17:34 AM
I think bitcoin will never be a stable price. I guess bitcoin
has been created not to be stagnant price but design to be
a volatile price. Because if bitcoin will stable others wont get
easily earn money.

There is nothing inherently stable or unstable about Bitcoin's design. It is just that when the market cap is relatively small, actions by a few players can move the market. Once the market cap increases, this problem should be solved.
About making money, Bitcoin was not just made for the day traders.  Smiley
605  Economy / Gambling discussion / Re: Cricket match prediction discussions on: December 17, 2016, 05:58:32 AM
It's Australia's test match to loose now with Pakistan all out for 142 runs in the 1st innings and Australia are now batting and have already lost 2 wickets for 41 runs but lead by 328 runs. In my opinion Australia only need another 200 runs and they will win this 1st test match. The new ball is moving around a lot at the moment and Pakistan need more quick wickets with this new ball if they have any chance at all. Smith is looking good once again at the crease so this is the man they want to get early if they can.

Lose, not loose.  Tongue
Australia have won this match. I think they should have enforced the follow on. The Ghosts of Calcutta, still haunt the Aussies, I think.
Pakistan have no chance of making a comeback in this match. Australia will just set an impossible target and wait for the wickets to fall.
606  Economy / Gambling discussion / Re: Cricket match prediction discussions on: December 16, 2016, 08:08:41 AM
Pakistan are fighting back against Australia taking 2 quick wickets early on and they got the danger man out in Smith for 130 runs however they need to get Handscomb who looks set at the crease on 85 not out at the moment. Australia are still in a strong position at 5/339 but if Pakistan can restrict Australia to under 450 runs then they might give them self's a chance in this test match but they must play well and hold onto their catches.

Pakistan managed to restrict Australia to under 450 - Australia made 429 in their first innings. Given Australia's start, Pakistan would be happy with this score. Wahab Riaz and Mohammed Amir took 4 wickets each.
Now it is up to the Pakistani batsmen. They have lost 1 quick wicket, but they need to bat strong to deny Australia the advantage. I think Australia are still in the driver's seat in this match.
607  Economy / Economics / Re: A ransomware acts like a pyramid scheme and its effect in the Bitcoin market on: December 16, 2016, 08:00:48 AM
I've seen the suggestions that you just run a few virtual machines and have them act as the two things you use to "infect" for you to get your files back, and I'm not sure why something like this wouldn't work. Is it just whenever you are the first person to get the ransomware that this option is available? If so, that could end up screwing 3 people over if the others cannot pay.

That is because the infected people have to pay for you to get your files back. It is not just for the first person who has been infected by the ransomware.
It is kind of a ponzi/ multiple marketing scheme. If you bring in victims, you profit (by not having to pay for your files to get decrypted).
608  Economy / Speculation / Re: What % of the Total Market Cap of Gold should Bitcoin represent? on: December 16, 2016, 07:52:06 AM
How many of the Gold bugs have ever held their gold or even seen it? The supposed gold, held by the US government has not been audited by a
independent auditor for years. Who knows if it is even there anymore.  Huh I would rather buy physical gold and hide it somewhere, than buying a
piece of paper that reflects a portion of my gold in a digital ledger, that can be wiped in a instant.  Roll Eyes

It's funny you mention that, because there are rumors that the Gold in Fort Knox is actually Gold-plated Tungsten.

Fort Knox could actually be empty for all you know.  Smiley
We are talking about the total value of gold in circulation, while we should be taking about the value of all gold-related derivatives. If you look at the value of all e-gold, gold bonds, and multiple other derivatives of gold, the value will shoot up. So the value of all Bitcoin is minuscule in comparison.
609  Economy / Gambling discussion / Re: Cricket match prediction discussions on: December 15, 2016, 06:45:46 AM
Australia started well after winning the toss with renshaw and warner looking to score some runs here and are in good touch atleast for now and its a treat to watch Amir and Wahab Riaz bowling in this wicket.Younis Khan has to score some runs for Pakistan if they need to challenge Australia in this series.

Pakistan have managed to pull back the match a little. They have got a few wickets and Australia are now 160/3. Australia are still favourites to win this match, but they haven't dominated from the start. If Pakistan can restrict them to 350-400, I think we might have a even contest.
610  Economy / Economics / Re: Most Secure Currency to Hold Funds on: December 15, 2016, 04:48:17 AM
I have many bitcoins I'm wanting to cash out, but I'm debating whether I should do it for gold, or for USD. The possibility of the bitcoin price crashing scares me, whereas it seems impossible for gold to lose all value.

What do you hold the bulk of your wealth in?
I think you are a lucky man, your fears of losing money if bitcoin price crash indicate you have a large amount of bitcoin.
I've planned about my wealth in the future, to divide your wealth into several forms is the best way. Choose to buy land, gold, bitcoin, cash in banks, start your own business and invest somewhere you trust.

Dividing the wealth into several forms won't make it better than staying in one form. For example, you can't always monitor multiple forms of your wealth and when one of them is accidentally having some sort of problem that could decrease the value of the wealth then you will face the mass and could be pissed off. I would myself always stay on one form to save up my wealth and not going to worries any additional problem which is actually unnecessary

Diversification is used to improve risk-adjusted return.
True, any one investment could decline. However, its impact on your portfolio won't be catastrophic because you have diversified it.
Bitcoin can decrease by 10% in a single day, but can 10 different asset classes all decline by 10% on the same day?
611  Economy / Economics / Re: A ransomware acts like a pyramid scheme and its effect in the Bitcoin market on: December 15, 2016, 04:41:56 AM
I just read that there is a new kind of ransomware called "Popcorn Time", not related to the torrent client, that demands payment in Bitcoin. If you do not want to pay, you have the option to send a link to other people and if at least 2 of them install the ransomware and make the payment, the keys will be given to you to decrypt your files.

The interesting part is the victims become attackers themselves turning it into a self sustaining "collaboration" of different people all in the interest of obtaining the keys to unlock their files.

I believe this will have a positive effect on the price of Bitcoin if it infects enough computers with Bitcoin demands reaching over $1m worth of ransoms.

https://www.wired.com/2016/12/popcorn-time-ransomware/

Hmm... This is an extremely interesting way for ransomware to propagate. Kind of reminds me of drug addicts ensnaring new victims to ensure that they get their snuff for free.
I don't think this will have an impact on the price of bitcoin. Even if a lot of people buy bitcoins to pay the ransom, these bitcoins will eventually be dumped (after sufficient mixing, of course) by the hackers.
612  Economy / Speculation / Re: 778 resistance broken, 779 hit, time to fly!! on: December 15, 2016, 04:34:53 AM
As expected, as soon as we crossed the 778 resistance, we tested 793.3, almost 800. We saw a correction, smart people bought the dip and are now back on track with extra BTC. We are now sitting comfortably above 778, 781 right now. Looks really good. Next test for 800 begins soon. Prepare yourself and remember to wear a helmet.

We seem to be see-sawing in an extremely narrow range. The price crossed $780 multiple times, but we haven't seen a big outbreak. My sense is that we are going to see a big move once this range gives way and I think it will be in the upward direction.
613  Economy / Economics / Re: Paper bitcoins. Is it worth it? on: December 12, 2016, 05:06:05 AM
It is an established fact that bitcoins aren't very useful for offline transactions (even if you could use, for example, OpenDime devices for making such transactions). If Bitcoin banks are allowed, they would most certainly start issuing Bitcoin certificates (let's call them paper bitcoins), like many banks did in the 19th century with gold. These certificates could easily serve as paper money of sorts and thus solve the issue with offline transactions. The main problem with this approach is that banks might start (and most likely will) issue more paper bitcoins than the amount of real bitcoins in their wallet. So this raises two questions. Namely, if it is possible to prevent Bitcoin banks from issuing paper bitcoins altogether once they get allowed and start popping up here and there, and if there is a way to make these banks to limit the amount of paper bitcoins so it would match the amount of real bitcoins they have...

I think we might eventually have to face these issues, especially if Bitcoin gets more traction in the future

If you extend the traditional banking model to banks, they would just lend out the bitcoins that you deposit in them.
The bitcoins deposited will be in an account balance, tagged to you. We are not in age of bearer deposits any more.  Smiley
614  Economy / Speculation / Re: Will we start new year in $800+ or remain in $700+ on: December 12, 2016, 04:54:55 AM
if bitcoin will start on $800 per bitcoin in 2017 im guessing we could actually hit $1000 in october or november 2017. but im still waiting till good happens im hoping that bitcoin could reach the $800 barrier so there will be more investors that put their interest on bitcoin and thats a good news if that happens because bitcoin could easily reach $1000 barrier before 2017 years end.

If we do get to $800 by this year end, we will get an ATH in 2017.
$1000 is only a 25% increase from $800 and a year is a long time to get there.
All those bagholders who got in during 2013 should finally be feeling relieved now.
615  Economy / Gambling discussion / Re: Cricket match prediction discussions on: December 12, 2016, 04:45:42 AM
Yadav really deserved his century. And he gave well support to captain. Kholi is the best young captain in test cricket. England is suffering a lot in the second innings. They lost 6 wickets just for 182 runs, and they still trail by 49 runs. I think India have a chance to win this match with Innings. Let's see how England will face Indian bowlers today.
It is not about having a chance if the English batsmen cannot build a good lead then it is all game over with just 4 wickets remaining their tail enders have to  perform the same way as India tail performed and if so they could build a lead and in the era of T20s they will chase a small total with ease as we have seen in the last test.
Yes, today is the final day, If India takes remaining 4 wickets as soon as possible they will win this match. Or else England batsman can survive today up to tea break this match is going to end with Draw. I am expecting one good partnership from Bairstow and Buttler. I thought the end of the day we will get an unexpected result. 

Comprehensive victory for India. Ashwin runs through the remaining England batsmen in a few overs.
Who would have predicted this result, after England won the toss and scored 400 runs in the first innings!
616  Economy / Speculation / Re: Bitcoin. Long or short? on: December 10, 2016, 04:08:37 PM

Deserves because it's weathered all the storms its had thrown at it.

Hacks- CHECK
Government scrutiny- CHECK
Blockchain strong- CHECK
Uptrend- CHECK
Biticon deserves new ATH, all right. But do we really have base for it in 2016? I don't think so. With only 20 days left until end of the year price spike of 100% is impossible.
It is true that we did not have any hacks/fails and uptrend it here but that is still not enough.
We need to wait for bitcoin related projects in 2017 to take effects (SegWit is not activated and I want to see price after BitCache will go live) - so the price can move.


While I almost agree with you I do think if the market makers wanted to we can see a new ATH by new years eve but more realistaclly its coming in 2017. One can always hope though.

It would require a 50-60% hike in 20 days. I hope that it doesn't happen because these kind of surges are invariably followed by drastic falls and disillusionment of a large section of the population.
617  Economy / Economics / Re: Entrance for 1 in a million 21 BTC club is now $16.180 on: December 10, 2016, 03:49:54 PM
You might want to change the title to $16,180 because $16.180 is read as $16 and 18c in most parts of the world.
1 in a million is a nice club to be in, but the wait to be truly rich because of these coins could take a long time. Many people won't have the patience to wait that long.
618  Economy / Gambling discussion / Re: Cricket match prediction discussions on: December 10, 2016, 03:44:01 PM
Morning sessions always are difficult for batsmen to handle them. If India succeeds to face those early bowling spells then 100 plus runs lead will be minimum to be seen. I have some doubts that India can reach 500 runs marks. India has been declared favorite by books but England's first innings performance creates some cloudy atmosphere over results.

This track will help produce a result. The spinners are getting purchase and Kohli has made the difference in the match. If India manage to get a lead of 100, they will have enough time to bowl England out and chase down the target. If they manage to score 150, they might not need to bat again.
At this point, the bookies have rightly favoured India to win this match.
619  Economy / Economics / Re: Why the big whales are not cashing out? on: December 10, 2016, 07:30:49 AM
Some of them may have lost their private keys - good for the rest of us Grin

That is wishful thinking.  Cheesy
They might be bullish in the medium to long-term. Unlike the rest of us, big whales don't have any immediate requirement of funds and can afford to hold for the long-term.
620  Economy / Speculation / Re: If we didnt had idiots blocking segwit we would be sittting on 4 figures by now on: December 10, 2016, 04:09:15 AM
Even if we have some idiots still don't understanding we need segwit, the price is still rising and we are soon going to pass 778. If we had segwit activating faster, this would be more fuel for our rocket and we would reach moon 10 times faster. But the upraise cannot be stopped no matter what. ATH in new year guaranteed.

If you think implementing Segwit can lead to the price reaching 4 figures quickly, think what increasing the block size would do.
Unfortunately, we have idiots blocking that as well.  Smiley
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