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601  Other / Meta / Re: Demand for sig managers on: May 30, 2018, 06:51:23 PM

Quite a bad idea. You should list anti-spam managers, not every random baboon offering their "service" for $25/week while enrolling tens of their own accounts.
Don't worry about that,I am not going to list everybody. I have seen good and bad managers. I'll look around for more.
Is it possible to become a manager (an anti-spam one) here, without any reference, starting from scratch? I know all the managers have started their job sometime somewhere similarly, so I'd like to know what are the requirements to be listed on the official manager list?
I'm thinking about trying to run a small campaing, just for the experience, and to see how much time does it take to handle a campaign. I won't enroll spammers, that's for sure....
602  Other / Meta / Re: Mod, please check new plagiarism: Reporting copy/pasting, please permban on: May 30, 2018, 04:52:53 AM
User: galaxing Banned

Original

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Hello everyone....

Bitcoin has survived relatively well in trading this week, despite negative news about regulatory repression.
For analysts who have a long-term view, the price is in line with their theses which enhances oversight will shake up "bad performers" and make the market healthy enough for institutions to invest.
"In the long run this is bullish," Brian Kelly, a CNBC contributor and head of BKCM, said in a note to clients. "If the DoJ and the CFTC feel as if they have 'cleared' the market, then it paves the way for the US. Bitcoin ETF is physically supported, and it brings in institutional investors. "
Bitcoin briefly hit a six-week low of $ 7,272 on Thursday after Bloomberg reported the US Department of Justice opened a criminal investigation into whether traders were manipulating the price of the cryptocurrency. The report, citing sources, said the Commodity Futures Trading Commission assists in the investigation.
However, bitcoin immediately recovered its losses for the day and traded near $ 7,570 in the afternoon, down just 8 percent since Friday. The CFTC, which oversees bitcoin futures, declined to comment, as the Department of Justice did.
"I have not seen any evidence of price manipulation in the bitcoin market, but it certainly supports increased supervision, because it can only help to instill further confidence in the crypto market," said Joe DiPasquale, founder, and CEO of BitBull Capital, crypto fund who invested in other crypto funds
Other negative news could hit bitcoin prices harder this week, but it is not.
On Monday, the North American Securities Administrators Association announced that the "Cryptosweep Operation" action against fraud-related cryptocurrency has caused nearly 70 questions and nationwide investigations since the beginning of this month. Thirty-five enforcement actions are pending or completed.
"These actions indicate that 'adult supervision' comes to the crypto and adds that control to gradually increase the structural integrity and legitimacy for cryptocurrency investors," said Fundstrat Tom Lee. Lee maintains a mid-year price target of $ 20,000 in bitcoin and a $ 25,000 year-end estimate.
It may take longer for the cryptocurrency market to recover from the regulatory uncertainty that has contributed to a decline of more than 50 percent bitcoin earlier this year.
Lee has predicted bitcoin will get a boost last week from the Consensus and other cryptocurrency conferences during New York City's "Blockchain Week".
But the rules persist. On Friday to the week of the conference, bitcoin fell to its lowest level since April 20, a three-week low, after prosecutors raided the biggest cryptocurrency currency exchange in South Korea.
"The crypto market is still in its infancy - we are in a relative stone age - and very sensitive to news and manipulation," said Matthew Roszak, founder of the blockchain company, Bloq, and chairman of the Digital Chamber of Commerce.

"As markets mature with better infrastructure (stocks, futures, etc.) along with increased participation from institutional investors globally," he said, "the market is going through these tough times."

Archive


User: Annolasiman Banned

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Crypto Mass Adoption. Reliable Legacy System / Fiat to Crypto Service Needed. Why Not an ICO to Fix This?

There have been MANY problems trying to integrate / pair crypto transactions with the traditional (legacy/fiat) banking system, and there will be more to come.

bank on that also.
Banks will use their power to block alternative currencies when they can.

Banks tied to governments and their bailouts and payoffs and lobbying do not want the competition nor freedom which we were actually all born with.

Banksters gonna bank, right?

It costs a lot of money for someone or a company to obtain a banking / monetary transmitting type licence, but why not run an ICO for this, that's what is happening for every crypto project going pretty much as we know.

It would be less difficultto raise the money using this type of method.

Why doesn't someone set up a crypto/alternative currency bank, with the goal of moving these transactions and opening a new world of banking choices in crypto, since that is a logical next step along with DEX's (Decentralized Exchanges)

There has to be a reason someone hasn't tried this yet, unless I am missing something.

Possibly because it's difficult to get a banking licence, as we said, banks and all related agencies/policy never want to make liberty easy and extort rights and money from us daily.
The Australian government has granted one in the last decade. But there must be a place where you could start. . . .

Archive
603  Bitcoin / Bitcoin Discussion / Re: bank will use Bitcoin to make cross-border payments on: May 28, 2018, 09:34:44 PM
If they are doing it anything like this then it would be a path-breaking move from the banking industry because generally banks are worried about the growth of decentralized cryptocurrencies and as said by the experts, "Bitcoin will do to banks what emails did to the postal industry". It would be very beneficial for everyone if banks are adopting new technologies to optimize their service.
I really don't think that banks will go this way... The volatility will stop them to exchange the fiat to bitcoin and vica verse...
But something came into my mind... What happens if a bank decides that they will use e.g. 10 million USD per month to do the international transfers with bitcoin, and they will do a hedge trade with bitcoin futures to cover the possible losses that can happen because of the exchange rate drop... in this situation, they cannot lose if the exchange rate drops, so they're fine... The real question is in this case, the price/fees of the bitcoin futures trade is less or equal compared to the SWIFT system's price/fees...
604  Other / Meta / Re: If this contiunes, we'll lose the Bitcoin Discussion topic on: May 26, 2018, 09:56:03 PM

Assuming the subject line of each post conveys the subject (probably doesn't), you could add a filter that alerts any users This Post Exists and provide quick links to the post for review.

This could avoid some of the duplicate subject matter.  The member could still post, but it would act similar to the notice when other posts go live before completing a reply.
Good idea to prevent duplicate topics, but unfortunately bots and spammers won't care about it, they need topics to spam to, and it's better to open a new topic and spam there instead of spamming into an existing spam megathread, because nowdays it seems that the "good old" spam megathreads have been deleted and a lot of posts of the farmed accounts has also vanished... Farmers/spammers (the serious ones)
 maybe realized that it's risky to post into a spam megathread because it can disappear in a second (with the effort they put into it) so it seems they try to open new threads... And they don't care if it's a duplicate or not, unfortunately...
605  Other / Meta / Re: New Report to moderator stats ;) thank you theymos on: May 26, 2018, 09:45:54 PM
...
300 reports in 3 days is not bad at all. Smiley
...

Thanks Smiley
Well, you can imagine, it's easy to get used to it pretty soon Smiley
When I was about to reply to your post I've clicked the 'Report to Mod' link first below your post instead of the Quote button Cheesy (realized it in time of course Smiley )
I have to find the healthy balance between the amount of reporting and replying Smiley
606  Other / Meta / Re: If this contiunes, we'll lose the Bitcoin Discussion topic on: May 26, 2018, 09:33:10 PM
...
Glad to hear that the board is a bit cleaner now and kudos to the mod that nuked the ladybots.
50 topics reported a day  Cool....no wonder the number of topics in BD is not growing anymore
...

Oh, and... newbie jail.....where are you ?!!?!!


+1 for newbie jail Smiley
would save a hell lot of work for us and for the mods... and if we move some of the mods to the beginner thread (they will have some free time if newbies won't spam the whole forum) and they will be able to handle the beginner's thread, it would be easier to find the quality posts there to merit, to let newbies get out of the jail as soon as possible, if they deserve it... (or they buy copper membership)

Reporting day #3
It seems that the Bitcoin Discussion thread is getting better (I've only done 33 reports today with just a few 'ladybots'), which could have several explanations:
1) Ladybot spam attack has finished
2) Other members also report the spam daily, so by the time I start, most of them are deleted already
3) It's weekend and spamming newbies are in the pub Smiley

I've reported more than 300 topics in a few days (started with nearly 0 report count) and it seems that after 300 reports you can have a look at the reports (you get the 'your report history' link) which report was good or bad. Seems useful
607  Other / Meta / Re: New Report to moderator stats ;) thank you theymos on: May 26, 2018, 09:02:49 PM
Users who didn't made a report in the last 30 days, normally couldn't find anything in their history.
If you mean that you have for example less than 10 reports and you couldn't see how many are good/bad/unhandled then probably you are right about the minimum requirement (even if i don't understand the reason behind it)

Potential reasons could be to prevent users who aren't posting regular enough to complain about their reports not being handled or being marked bad which I expressed my concerns about earlier in the thread. Could also be that users who don't report regular don't need access to the in depth data that the regulars do.

Agreed to some of extent, but how about include them also?
For example, I want to improve my reporting to have a 100% and my reports are 50% bad. How could I improve it without seeing it?(Just an idea because I would like to report regularly once I bump into one of them)
I had also missed the 'Your report history' link, but I've started to report spam from the Bitcoin Discussion topic 3 days ago (with nearly 0 report count that time). I haven't really paid attention for the number of the reports so close, so I can only guess that the magic number is somewhere around 300 reports, because today I'm over 300 and the 'Your report history' link has appeared. It's good to see which posts were reported in vain...
608  Bitcoin / Bitcoin Discussion / Re: How anonymous are Bitcoin debit cards? on: May 26, 2018, 07:36:06 AM
....

ps. regarding address how about using a P.O. box?

As long as the P.O. box is not yours Smiley
Anonimity matters only if someone really wants to find you (even the tax authority). In that case they can ask the P.O. box service provider (e.g. the national Post) to give them your details, because you need to sign something to have a P.O. box...
609  Bitcoin / Bitcoin Discussion / Re: EMAILS AS POSSIBLE SOLUTION TO MAKING CRYPTOCURRENCY MORE ADOPTABLE? on: May 25, 2018, 09:34:03 PM
As it was already mentioned in the topic, there's no need to use email if you want to transfer bitcoin easily... As long as there are apps in the smartphones where you can reach the others who has the same app installed, there's no need to use email to have the connection (apps like messenger, viber, etc..). Also as long as there are bitcoin wallet apps available, they will solve this issue as well. These apps will make the necessary connection with using the smartphone's contact list, so you don't have to do anything but select one of your contact if you want to send a transaction.
610  Bitcoin / Bitcoin Discussion / Re: How anonymous are Bitcoin debit cards? on: May 25, 2018, 09:18:35 PM
Recently I stumbled over an article which promoted Bitcoin debit cards. Few cards were featured as anonymous cards. I researched those cards and found out that you can use them without verification with lower limits however. Those limits (at least in the EU) are up to $1000 without any verification. All you need to provide is a address where the card is sent to. I could not find out if the address is given to the payment providers or not (VISA or Mastercard). What do you think, are those (limited) debit card really anonymous?
I don't really belive that they are totally anonymous because somehow - as you wrote - they should send you that card. They register that name and address somewhere in their database. I know you can tell that e.g. you have ordered it for one of your friends but I don't know if they will belive you or not...
My opinion is that nothing is anonymous anymore in connection with debit/credit cards (bitcoin or not) but they advertise their card with the anonymity to be able to use much higher fees.... but this is only my opinion
611  Other / Meta / Re: If this contiunes, we'll lose the Bitcoin Discussion topic on: May 25, 2018, 08:17:51 PM
That telegram spam is the tip of the iceberg, the "ladies" are far more problematic and are back with their topics
...
My question to the mods, how to properly report those threads?
"This user might be a bot since there are others with the same nickname style that are posting crap" does't look like a good explanation to me in a report.  Grin

I haven't wrote such a long explanation when I have reported those threads Smiley
I just only wrote: "Should go to Speculation" that's all Smiley
I haven't checked the speculation thread it they were moved there, but the topics has vanished from the Bitcoin Discussion thread at least...

EDIT:
I have done the review of the Bitcoin Discussion thread again today, it's much better now, it took only half an hour and reported only about 50 topics, but most of them were those poor numbered wenches again...
612  Other / Meta / Re: Mod, please check new plagiarism: Reporting copy/pasting, please permban on: May 24, 2018, 09:35:00 PM
User: Gloria4573 Banned

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Brazil’s First Crypto-Finance Master’s Degree Launches In São Paolo.
Major Brazilian university Fundação Getúlio Vargas (FGV) in São Paulo is offering the country’s first Master’s degree in crypto-finance, Finance Magnates reported April 12.
The program offers specialized education for the crypto industry. Ricardo Rochman, the program’s coordinator, explained:
“It is a market with a profound lack of people with expertise. Cryptofinance has economic and financial fundamentals that are worth discussing, researching, and [being] taught.”
The FGV Master’s aligns with a wider movement in the Brazilian higher education system to embrace digital currencies and Blockchain as part of their study programs. Neighboring University of São Paolo incorporated cryptocurrency studies into the Derivatives unit of its Faculty of Economics and Administration last year. Professor Alan de Genaro, who initiated the move, explained:
“Some issues have to be presented even though the [student] does not go to work in the finance market. People have to understand which factors are beneficial and which are not suitable [regarding cryptocurrencies].”

Archive


User: buyandsale

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...
Some groups on facebook has this scammers and they post on groups like make money double or make bitcoin without investment instantly just by giving blockchain email id so when any fb innocent user reply to them and send them his blockchain email id scammer do create dummy or duplicate account from same email id dont know how they do it and they says deposit some btc to that dummy or dulicate account which password we can change but here is the twist when ever any user deposit any btc in there blockchain new account which was created by this scammer they got there blockchain account hacked and all btc will be stolen. scammer do hack there blockchain account via secret codes provided by blockchain service which me guess how they stole btc ...
...

Archive


User: rider212 Banned

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HybridBlock, a Singaporean currency trading (cryptocurrency) and education platform officially launched the latest roadmap update of the project. Built on the Ethereum blockchain, HybridBlock creates an ecosystem of cryptocurrency buying and trading solutions to empower its traders worldwide with a focus on Asia, both beginners and expert level.

Limited training on purchasing and trading of HybridBlock cryptocurrency has been underway at Sheraton Grand Hong Kong on April 9, 2018. The successful pre-sales stage has just concluded for HybridBlock, which generated over USD40,000,000 already collected and ranked significantly higher than the independent third-party ICO review platform.

HybridBlock itself is the trade of cryptocurrency and the world's most innovative educational platform. This is an alternative for those who want to benefit from the explosive growth of cryptocurrencies without the high risk and complexity that accompany the trading of digital assets.

Archive


User: AsifPatel Banned

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Here is an idea how Bitcoin could be improved:

In the current implementation, scarcity is created by setting up arbitrary computational problems whose sole purpose is to create scarcity. The computational problems are artificially created by the system, much like a fiat currency. There is no natural demand to solve those problems.

This is macroeconomically suboptimal because a lot of CPU power is being "wasted" instead of being put to good use (opportunity cost). It would be bad for the environment too, if BC were ever to become a world currency.

Why not use those CPU cycles to perform computations with real value? This could be done via some sort of grid computing infrastructure such as BOINC, except that it would be a marketplace instead of a volunteer grid.

For example:
A drug company wishing to model the structure of some protein could use Bitcoins to buy "computing credits". The computing credits can then be used to secure the right to define the data and algorithm of each computational chunk.  The CPUs of the BC users solve these chunks and send the results back to the drug company. As before, the BC user gets newly generated Bitcoins in return for computing each chunk. In addition, the user receives the Bitcoins paid by the drug company.

This would have the benefit of backing BC with something more tangible than just the collective faith in the project. It would also generate lots of extra demand for BC.

Archive

User: coinkeke

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On March 7, 2018, blockchain startup Agora oversaw the results of Sierra Leone’s presidential election, marking the first use of the technology in this capacity.

For voters, the process wasn’t any different than previous elections. They arrived at their polling center, showed election officials their IDs, and then cast their votes on a paper ballot for one of 16 candidates.

What happened next was unlike any other election, though. As Agora’s chief operating officer Jaron Lukasiewicz explained to Coindesk, the Swiss startup then manually recorded the votes on a permissioned blockchain.

Permissioned blockchains aren’t quite the same as public blockchains, like those supporting the cryptocurrencies bitcoin. While anyone can validate transactions on a public blockchain, only authorized persons can validate transactions on a permissioned blockchain.
In the case of the Sierra Leone election, the authorized parties included people from Agora, the Red Cross, École Polytechnique Fédérale de Lausanne (EPFL), and the University of Freiburg.

However, like a public blockchain, anyone can view transactions recorded on a permissioned blockchain. That means that once the groups managing the blockchain verified the Sierra Leone votes, anyone — voters, candidates, or just interested third parties — could see the election results.

According to Agora, the company even produced their results two hours sooner than election officials.

Sierra Leone has a history of violence surrounding elections, with several incidents reported in the days prior to 2018’s presidential election. The nation’s government is also more corrupt than most, so the small West African country served as an appropriate testing ground for a technology designed to increase fairness in the election process.
A country like Sierra Leone can ultimately minimize a lot of the fall-out of a highly contentious election by using software like this,” Lukasiewicz told Coindesk.

Agora’s use of blockchain for the Sierra Leone election isn’t the company’s ultimate vision for the technology. Eventually, the startup hopes to eliminate the use of paper ballots altogether, allowing voters to cast their votes via personal electronic devices. This will cut down on election costs, increase voter accessibility, and eliminate a potential avenue for corruption.

Still, Agora’s work in Sierra Leone marked an important milestone on the path to a more transparent and fair democracy built on blockchain technology.

Disclosure: Several members of the Futurism team, including the editors of this piece, are personal investors in a number of cryptocurrency markets. Their personal investment perspectives have no impact on editorial content.

Archive
613  Other / Meta / Re: Mod, please check new plagiarism: Reporting copy/pasting, please permban on: May 24, 2018, 09:29:54 PM
User: jodhsingh Banned

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If you are storing crypto assets in wallets I recommend number of things you should do to protect your wallet. Keep these five tips in mind to keep your digital asset secure.

1. Use two Factor Authentication

Find a wallet who offers a two-factor authentication(2FA). If someone had access to your login details, they would also need your phone to get the 2FA code. The best 2FA options, in order of most to least secure, are as follows:

  • Hardware dongle
  • An app on your phone that doesn't sync your secret anywhere (e.g. Google authenticator)
  • An app on your phone that does sync (e.g. Authy)
  • Email based
  • SMS based

2. Don't use public Wi-Fi

The vulnerability that comes with public Wi-Fi is that they make easy for hackers to access computers that are connected to that network. There are three specific ways in which public Wi-Fi is risky:
  • Man-in-the-middle attacks
  • Malware
  • Wi-Fi Sniffing

To avoid this issue, don't have your Wi-Fi turned on, allowing it to search and connect public Wi-Fi connections. Have it turned off and carry with you an internet dongle for private connection instead or you can also use your own hotspot from your cell phone.

3. Beware when you download (Even on your phone)

Be cautious when downloading files, not only in email. Remember that there are clever people out there in crypto. You'll notice files posted in communities, on Telegram, Facebook, Reddit, Bitcoin Talk, etc. As tempting at it is to click them, be aware that they could be bait. Always use caution. You can even use Kaspersky's File Desk to quickly check links and files.

4. Use only encrypted email

Whether you have a free online email or own your own server, you're vulnerable to malicious email access. I would suggest ProtonMail, it is an encrypted email service that takes a different approach to email security. The encryption means that no one but you can read your emails, not even ProtonMail themselves.

Note: I do not work with nor endorse ProtonMail, Its just my experience that I recommend this Mail service.

5. Keep private keys offline

If you have wallets on your computer, always store your private keys offline either on an external hard drive or as a hard copy. If someone gains access via malware or public Wi-Fi, this allows you to limit what they can find or take, which buys you time to realize that your device is compromised before anything important is stolen. Also make a extra copy of your external hard drive because it can be damaged or stop working.



Archive
614  Other / Meta / Re: If this contiunes, we'll lose the Bitcoin Discussion topic on: May 24, 2018, 08:38:56 PM
Today I took a deep breath and started to check today's new topics on the Bitcoin Discussion thread.
Today our hard working little newbie ants has created 10 pages of new topics (roughly) and I took my time to check those topics which had less then 10 posts... it took an hour or more (even more...).

The result is 127 reports but the reason I'm amazed/frightened is:
90% of the posts was done by a newbie with 1-2 activity points or a brand new user....

The naming concept of the newbie was like this: Firstname+numbers, like Annie456 and so on... and they were different users, of course....

Most of the topic opener posts were about bitcoin price speculation, in max. 2-3 lines...

I still have a few (OK a lot) tabs open in my browser, for the post that were longer than 2-3 lines because I'll do a copypaste check on them, but it's possible that it will be the job of tomorrow Smiley

I hope the mods won't get headache from the amount of report I've generated for them Smiley
615  Other / Meta / Re: If this contiunes, we'll lose the Bitcoin Discussion topic on: May 23, 2018, 09:48:22 PM
I think we already lost it.
I was afraid of a kind of answer like this one...


There are some cases of a good thread discussions but they last for a few hours before the 17th page has already started. That's why LoyceV suggested that captcha should be introduced (for deleting posts) and I'll say captcha for deleting and making new posts, at least for new members.

https://bitcointalk.org/index.php?topic=3955810.0

I would support any kind of idea that slows down spammers and newbies opening meaningless topics and posting BS everywhere.

I still fight in the Bitcoin Discussion thread because every day you can find at least 5 interesting topics among the 300 others Smiley The future of that thread should be bright, because this can't be worse, I think Smiley
616  Bitcoin / Bitcoin Discussion / Re: Is Cryptocurrency Only Another Newer Version Of Money Game? on: May 23, 2018, 09:31:55 PM
...
Whether bitcoin will succeed in 'replacing' banks / fiat can't be said yet. But i am very interested in seeing what will happen when the next stock market crash comes.
When consensus about how the economy should be changes, and a stock bear market will be entered, and inflation will prevail ... then it will be clear whether bitcoin is going to be the revolution and 'safe haven' or is going to crash together with fiat, stocks, ...
I'm not sure that people will happily invest in bitcoin in case a real crisis comes again. In that case people will afraid about losing their savings and if bitcoin won't be an everyday currency by then but only an asset to gather and hold for a long time, then it will only attract those who have nothing to fear in a new crisis situation, which is a little part of the people worldwide.

617  Other / Meta / Re: Mod, please check new plagiarism: Reporting copy/pasting, please permban on: May 23, 2018, 09:22:55 PM
User: ashik0183 Banned

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Norway's central bank is preparing for a future in which it might issue a digital currency amid a slump in cash usage in the country.

Looking into the possibility, a working group at Norges Bank has released a report titled "Central Bank Digital Currencies," which explains that, as citizens turn away from physical forms of money, the bank must consider "a number of new attributes that are important for ensuring an efficient and robust payment system."

Already, the country's DNB bank has stopped handling cash, with Trond Bentestuen, group executive vice president of wealth management and insurance at the bank, telling local media as far back as 2016, that only 6 percent of Norwegians use cash on a daily basis.

Further, Jon Nicolaisen, deputy governor of Norges Bank, stated in a speech last April that the role of cash "continues to diminish" as consumers move towards electronic payments, adding that "For many consumers, electronic central bank money could provide an alternative to depositing money in a bank, as cash does today."

The new report looks at various features and purposes for a CBDC and suggests some roles that "merit further consideration," including as an alternative to deposits in private banks (in addition to cash); as a backup solution for the standard electronic payment systems; and to provide a suitable legal tender as a supplement to cash.

Describing blockchain-based systems as "immature," the report further explains that the preferred model for the CBDC would be either "account-based" - centralized and stored on a database - or "value-based" - decentralized and stored on electronic chips such as prepaid cards or SIMs.

Archive
618  Other / Meta / If this contiunes, we'll lose the Bitcoin Discussion topic on: May 23, 2018, 09:04:40 PM
Bitcoin Discussion usually gathers approximately 7-9 additional pages daily. Most of the new topics are the copy of the spam megathreads or some BS from newbies.
There should be a bounty or something because today I've found 3-4 copies of this post, each of them was in a separate topic...




I know that everybody have the right to express himself/herself and to open a new topic, and also everybody have the right to report these topics to the moderators but we could save a lot of work for everyone if we could somehow manage not to let every newbie post BS everywhere...
619  Other / Meta / Re: Mod, please check new plagiarism: Reporting copy/pasting, please permban on: May 23, 2018, 08:53:07 PM
User: jakirtanvir Banned

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It's only for them who don't know units of Bitcoin.

The unit of account of the bitcoin system is a bitcoin. Ticker symbols used to represent bitcoin are BTC and XBT.
Small amounts of bitcoin used as alternative units are millibitcoin (mBTC), and satoshi (sat). Named in homage to bitcoin's creator.
A satoshi is the smallest amount within bitcoin representing 0.00000001 bitcoins, one hundred millionth of a bitcoin.
A millibitcoin equals 0.001 bitcoins, one thousandth of a bitcoin or 100,000 satoshis.

Archive
620  Other / Meta / Re: Mod, please check new plagiarism: Reporting copy/pasting, please permban on: May 23, 2018, 08:34:37 PM
Found an interesting one, the original is somewhere in a private forum, I only managed to get in with a google translate link (or I'm not educated enough to use google properly Smiley )

User: SHO_OTERR Banned

Original: http://archive.is/U4K6C

Copy:
This is the big question isn’t it?

Is the investment opportunity in crypto over? Did you miss your chance to turn a few $1,000 into a few million? No yacht? No lambo?

While no one has a crystal ball, (myself included), I certainly do have a vested interest in the answer.

What we can do, is ask ourselves a few questions that will hopefully lead us to an educated outlook...

So let’s start with Question 1: Is the market small and growing, or large and slowing?

Right now the entire global market for the entire crypto space is around $350 Billion. Is that big? Small?

Well let’s put it into context…

Apple’s market cap alone is $998 billion. Amazon’s is $765 billion, and Walmart’s is $248 billion.

So the entire global crypto market is a little larger than Walmart… A single US Stock.

In other words, the crypto market is still incredibly small, but growing.

Question 2: Is the technology already mainstream?

Obviously the answer is no. We are still in the early adopter’s phase. Buying or using crypto now requires a learning-curve that only true fans of the technology are willing to accept.

When you can spend your crypto using your Visa card, we'll enter the "Whole Product Solution" phase.

Question 3: What is the “smart money” doing?

As we discussed yesterday, the “smart money” in Silicon Valley and Wall Street is just now coming to the table here in 2018.

They’re not sitting on the sidelines any more, and they’re not running away. They’re running towards this industry as fast as they can.

Question 4: Where is government policy and regulation headed?

For the past two years, this was my biggest concern… Would the authorities really allow the creation of an uncontrollable currency that competes with the Dollar?

Well here’s my conclusion…

The speed of innovation in this space is vastly out-pacing regulation. There are 3rd-generation applications being developed right now, and Congress still doesn’t really understand or respect Bitcoin or cryptocurrencies in general.

By the time they do, it will be too late.

The agencies who do understand this tech, namely the SEC and the CFTC, are cautious but supportive, which is an incredibly good sign.

The CFTC allowing futures exchanges to open in December 2017, was a massive step towards mainstream approval and integration.

Once the SEC approves ETF’s in the next 1-2 years, it will become a fully-integrated part of our financial fabric, and too late to stop.

Both agencies support the technology, and are focused on developing much needed regulatory policies in this space to protect consumers.

2017 was the peak of Crypto’s “wild west” days where anything and everything goes.

Regulation will provide the laws needed to allow mainstream adoption and investment.

Question 5: Is there a good chance that we’ll see another speculative bubble?

Yes. Without a doubt there will be another bubble that was even bigger than the record-breaker in 2017.

And that’s exactly what I’m hoping for.

Let’s take a look at Bitcoin’s brief history so far…

Bitcoin has gone through three major parabolic bull-runs and crashes already... Runs that had people declaring it was a mania on the way up, and that it was "dead" on the way down... Just like they last year when it topped $20,000.

The first run saw the price rise from $5.00, to over $200.

When it crashed back down to $70, the media declared that Bitcoin was dead.

A few months later in December of 2013, it hit another record-breaking high of $1,100...

Once again, the media declared that Bitcoin had no value and that it was dead as it crashed back down to $230 in 2015.

But if you listened to them, you lost out on the third run from $230, all the way to $20,000 in December of 2017. In fact, the first two runs are so small at this point, they barely show up on the charts.

So will there be another bubble that will make 2017 look like a bump in the road?

I think so.

Want a chance to make an insane amount of money when it happens?

The strategy is simple…

Have the balls to buy low, and the emotional maturity to sell high.

Executing this plan is easier said, than done when you’re in the moment, but if you have a plan and stick to it, you will provide yourself some guidelines that will allow you to make the right decisions, while saving you from your emotions.

Buying into the hype as Bitcoin hit’s a new high or $20,000? Wrong move.

Selling that Bitcoin three months later for $7,000? You don’t know what you’re doing, and didn’t have a plan. That’s called the “stupid tax”.

So what’s my conclusion?

In the long-term, we’re still early.

I believe the opportunity in the crypto market is just getting started, and I think we’re in the 2nd inning of a 9 inning ball game.

I believe that the flood of money that’s about to enter this market from Wall Street will take it to new highs in the coming year, and that we’ll see the market cap for crypto exceed $1 - $2 Trillion in the next 1-2 years.

And I believe that we’ll see the price of a single Bitcoin exceed $250,000 within the next five years.

Each of these buying manias will turn into a massive speculative bubble, followed by a bust with a 70-80% sell-off, just as we’ve seen it do in the previous cycles above.

Right now we're somewhere on the far right-side of this cycle after last year's bust. That's a good place to be.

These bubbles are the opportunity.

Buy low. Sell high. You win.

Now in the short-term, I have no idea what will happen…

For every trader who has a chart showing that we’ve bottomed and that the next bubble is about to begin…

These bubbles are the opportunity.


So what do you do?

Well we’re clearly no longer in record territory. The price of Bitcoin today is 60% down from it’s peak of $20,000, and has been as low as $6,200... A 70% drop.

That’s a pretty rocking discount.

Personally, I’m keeping my fingers crossed that it DOES continue to drop because I’m planning to play this market for the next 3-5 years. If I can buy a Bitcoin for $2,000 instead of $8,000, I’ll be over the moon.

Will I get that chance? No idea.

But I do think sitting on the side-lines right now is riskier than buying in.

I don’t try to trade the market, and I don’t really care about the short-term price. I simply buy what my budget allows, when it allows it.

And speaking of “budget”, I think it’s critically important to mention this…

Investing in the crypto markets is PURE speculation.

Speculation is risky, which means you should never invest more money than you can afford to lose.

My friends and I only invest what we call, “Vegas Money”... The money we’d be willing to take to Vegas and blow in a casino.

Do not put your life’s savings into crypto. Do not buy crypto with your credit card. Do not take a mortgage out on your house to buy crypto. Do not use leverage or margin, and do not gamble your future on crypto.

Have some “Vegas money” you can afford to lose by placing a bet on this industry?

Great… Bet that, and no more.

Which leads us to the next big question we need to answer…

Should you simply invest in Bitcoin, or should you invest in some of the 1,000+ Alt-coins”?

Which strategy would provide you with the biggest potential gains?

We’ll answer that question in my next post... Smiley

 

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