Maybe they should ban gold and silver too.
if someday they found gold and silver against their interest and they have no control over it . gonna ban it for sure . Some here say gold and silver are great stores of value and also can be used to buy things. There is way way more money in precious metals than bitcoin so why aren't they banning it? BUT.......bitcoin they are worried. What's that tell you? Historic precedents show that governments do not ban PMs but confisquate them... . Even the land of the free did, not so long ago... . And my personal opinion, same will be attempted with btc. That is why China does not just simply close the miners... . |
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Thanks torque
Ok so basically I don't know anything about ledgerX but I'm guessing this is a good way for certain people to invest in bitcoin without buying coins so to speak.
How big is this news and why isn't anyone excited yet then?
It allows high net worth hedge fund investors and individual investors gain exposure to bitcoin through fully collateralized credit default swaps. This is potentially huge because there are CFTC rules in place that prevent such fund entities from doing this on their own directly. LedgerX has been granted permission to be the clearing house. I guess no one is excited yet because they haven't seen the impact of what this could do for the market and price. Esp since onboarding isn't until Oct now. CDS are a kind of shorts already. This brings the WS casino to BTC, I wonder if we must be happy with this... . |
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Question for Wetsuit, Myffe : if we have the test function, is it the intention to participate in the test?
Most of the beta testing we're doing it is to evaluate system functionality behind the scenes. However we'd love to get the feedback from participants willing to user test this and share your thoughts. Please PM me all feedback, no need for that discussion to occur on the thread. Thanks. Ok will do ! |
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But when people talk about money, brains hasten out of the back door into the woods, never to be seen again in the conversation, and everything that is considered a given and completely normal in real life, is suddenly turned upside down.
I think, in a well articulated nutshell, you have just encapsulated Cryddits concerns. I know this is a speculation thread and everything, but who amongst us, that aren't just here for the quick buck and who actually 'believe', hasn't had concerns over how something as pure as bitcoin could be commandeered by influences something less than benevolent ? I am not that worried. The fact that Bitcoin is open source and can be cloned is not a liability but an asset. So if Bitcoin fails - in the end - there will be others. Lotsa lotsa others. A different take on the mantra unstoppable. I tend to see the role of bitcoin in the future as a reference value, not so much a transaction currency or something that will completely displace fiat currency. The simple essence is the following: *we know the current financial system is untenable *we know the enormous debts will never be paid *we know the debt must increase to avoid collapse *we know 'infinite debt' does not exist Bitcoin just has to represent an alternative. That will be enough to succeed. From a technical perspective, I am much more interested in smart contracts and decentralised 'computer networks' (like Ethereum and EOS). That is what businesses are looking at. So basically, bitcoin is the gold(light) that will serve as the reference, backing, of the future transactional means, currency, contracts etc? |
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If only the Average Joes of the world would realize the truth about the inflation they experienced in the past, as well as the heightened level of inflation they will begin to experience in the coming decade, they'd do well to put savings into bitcoin just for that very reason: just to hedge against inflation and protect their purchasing power. The price rising > 5% per year should just be a bonus.
It shouldn't be about "making a quick buck."
But alas, they are too caught up in buying things and making debt payments to be concerned about savings. Just like the govt and the banks want them to be. Forever in debt and on the hamster wheel.
Question is of course if they will allow us to hedge against their wrongdoings. Imagine what will happen when their bubbles, stawks, real estate, bonds and not to forget, debt, pop all together at the same time... . |
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It's neither racism nor bullshit, It's a well known fact that the IQ of the population of the world varies quite a bit. Even the BBC made a program about it, see for yourself. https://www.youtube.com/watch?v=5JLH9OKMnbUIf you watch the program, you will see its far more complex than it first appears. , IQ tests are biased toward western inteligence & education, and societies racism suppresses achievement in non-whites. So, basically it is racism and it is bullshit. How precisely can pattern recognition be biased towards anyone? Give me the next in the sequence - fish, chips, mushy peas and..... Gravey... I prefer tomato sauce One thing I hope we all agree on : the US urgently needs inflow of intelligent folks... .  |
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And this (quote of Bill Blain on Zerohedge)
More to the point, I’m not quite sure why we need it when we have well established offshore currency markets and accepted “stores-of-value” like the gold brick.
With that statement he's either completely ignorant, or flat out lying to the public. The "gold brick" 's exchange rate is being manipulated and held down with unlimited naked short contracts, the likes of which the history of the financial world has never seen. The Gold price is 100% centrally planned and controlled. WRT Bitcoin, this is "why we need it", Bill. See, this is why Average Joe should never listen to any of these uninformed fools. Because they can't be bothered to do the research. Actually, I think they do make their homework and it scares the shit out of them... . Dimon et al... . Loosing their jobs... . |
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I’m not quite sure why we need it I've isolated the author's problem here^ Regarding this There will be tears who knows. Probably. There always are. Lol, indeed! |
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The whole financial establishment and MSM is falling over each other in declaring Bitcoin a bubble. Even our local national radio talks about the Chinese ban...
And this (quote of Bill Blain on Zerohedge)
"Meanwhile… I’ve been asked a number of times to comment on cryptocurrencies.
I try not to – on the basis I don’t really understand the underlying logic. But a blog I read this morning struck a chord. I can’t grasp why they have taken off - except to make things like Silk Road the modern equivalent of smuggling as it hides transactions from financial scrutiny raising questions of illegality and tax. That is legally and morally wrong. Their valuations are bubbletastic, and there are now over 1200 of the things looking ripe for legislative sideswipes.
Neither can I figure how Bitcoin can possibly work – apparently the Blockchain underlying it can only handle 6 transactions per second, unlike your average credit card which can handle hundreds of thousands of simultaneous deals. In other words, you could never run a global economy off it! More to the point, I’m not quite sure why we need it when we have well established offshore currency markets and accepted “stores-of-value” like the gold brick.
And then there is the story Jamie Dimon of JP Morgan will sack any of his bankers who own them. (Hah.. we’ve heard them bragging in the pub about how much they’ve made from holding Bitcoin.)
Step back and the kinds of gains Crypto-currencies have made scream “bubble”! – fuelled by the sillies now pilling into them looking for big bucks, lured in by unverifiable stories about the riches to be made.
When a London taxi driver tells you he’s long Bitcoin… Sell! And all the folk who say they look like a Ponzi scheme – they might well be right.
But, for all their faults, the dodgy trading arenas, and the desperation of buyers, the bottom line is Bitcoin and others have made money for early investors. Why? It’s gone through successive waves of enticing reasonings: first it was the smart technological solution to a perceived crisis of confidence in currencies, before morphing into the “insider” financial trade, and now it’s a sure fire route for “Lovely Linda from Liverpool” to turn her £20k retail wages into million.
There will be tears.
Maybe Bitcoin was a well intentioned attempt to practically demonstrate the monetary theories of the Japanese bloke who is said to have invented the concept.. but today? They are a scam designed to tap the spigot of idiocy. Caveat Emptor.
Like I say.. I don’t really understand cryptocurrencies..
In a world where the biggest real definable threat may be cyber attacks on banking systems, perhaps they might be a secure store of value. But I also suspect the first place cyber crims will ransack accounts will be the cryptocurrencies themselves.
I really don’t like this digital world.."
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Question for Wetsuit, Myffe : if we have the test function, is it the intention to participate in the test?
This looks to be a technical piece of wizzardry, how do you manage to stick all the pieces together? After all profitable mining today seems only possible with asics and a lot of cheap
electricity. The electricity part is of course mitigated to our computers, but the first part, how do you amass sufficient hashpower?
Grts
L.
They didn't somebody else did for a german website and decided to offer it as a service, it's mining monero, thepiratebay also had a go with this. https://coin-hive.com/ they have a brutal 30% fee though :/ Ah ok, we will see what happens. Moonbit also has it as an option, only, if you don 't switch it on, Moonbit stops working ... . So what will happen if two are fighting for your hashpower... . (Computer exploding)... .  |
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Recently by claiming on Moonbit.co.in I noticed option ''Run mining bonus'' and explanation about explanation about it: Mining Bonus
When you tick the Run mining bonus checkbox we will run a background POW mining process in your browser.
Later when you make a faucet claim we will calculate an extra bonus of up to 100% on your faucet claim!
The bonus amount is based on how much hashing power you have contributed while the mining process was running - so to maximize your bonus you must leave the Moon Bitcoin tab open in between claims.
PLEASE NOTE: This mining process will increase the CPU usage on your PC/device whilst it is running by up to 30%.
The mining bonus is completely optional so if it causes a problem for you then please turn it off by unticking the Run mining bonus checkbox. Guys, what do you think about it?  ive been using this since yesterday - working great. im getting on around an extra 40%-50% mining bonus on all my claims so far - and hardly notice the process running Aha, that is why it stopped working with me, until I switched the mining bonus on. We will see what happens. Freebitco also has it as an option now. |
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Question for Wetsuit, Myffe : if we have the test function, is it the intention to participate in the test?
This looks to be a technical piece of wizzardry, how do you manage to stick all the pieces together? After all profitable mining today seems only possible with asics and a lot of cheap
electricity. The electricity part is of course mitigated to our computers, but the first part, how do you amass sufficient hashpower?
Grts
L.
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Why outlaw something profitable and create a black market when you can legalize it, monopolize it, and tax it?
I have to stock on popcorn for when they will expropriate Jihan Wu & C. I guess BitCHcoin will become the new CHinacoin then. It is already done. And they wil not close the miners. Only, BTC will be produced for export exlusively. The BitCHcoin probably will be traded in Yuan also. |
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$3981 on Stamp, looks like the storm has blown over & we're nearly back to the $4000's. China bull shot has been dissolved.
Let's see if we can break through 4000 without any signs of big resistance or if we will need 2-3 attempts to break it. Furthermore I still expect some shenanigans by chinese regulators which may trigger another uncertainty and shakeout. Probably not as strong as the recent one, but the market still has the tendency to react extreme emotional. Exactly my thought... . Leaving a buy order @ 2700€ open... . |
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Equifax's chief security officer was a music major, she studied music composition. Why would they put someone with degrees in music in charge of the company’s data security?
"Out of the box" it makes sense. |
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We have 2 faucets one is instant payout to faucethub ( http://claimbitcoins.win ) and this one is with withdraw amount. But don't worry we are not here for short term we are here for long term. Totally Legit What's the trouble? Invalid Token (claimbitcoins.win) Hi, Yes i have just noticed that and working on it to fix it asap and once fixed i will be raising the amount of faucet as well to 80-100 sat per claim Nice faucet.
What's the scripts you using with the wordpress?
Thank you! Bitcoin Faucet by Alexey Trofimov Question : So if we don 't use faucethub, we just can fill our own wallet address? It is a bit confusing on the page... I am talking about faucetfortune, not the other one. Thx Yes you fill in your wallet till 10k sat once you reach 10k you will be auto paid to your faucethub account. You can check your stats on http://faucetfortune.com/dashboard/ And don't forget referring others can make the stats high faster. I do NOT use faucethub... . That was my question. Ok, we made a faucethub account. And besides that, you have to fill the wallet address everytime again before claiming? |
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Nice faucet.
What's the scripts you using with the wordpress?
Thank you! Bitcoin Faucet by Alexey Trofimov Question : So if we don 't use faucethub, we just can fill our own wallet address? It is a bit confusing on the page... I am talking about faucetfortune, not the other one. Thx |
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Antminer d3s are now on sale
Currently offering MASSIVE boost in hash, will get around 1 btc/month at the moment
What's your monthly power consumption? I only have the one ethereum mining rig (5x 480) about 650 Kwh I'll admit that I'm currently completely ignorant about crypto mining. But I will be building a house next year, and intend to set up a 10kw solar array on the roof (with enough expansion for another 5kw) with battery storage. Yeah, my roof will be that big. So by my back-of-a-napkin calculation, with the 10kw I will have some yearly excess power, and with 15kw I'd definitely have surplus. Was thinking that setting up a crypto miner would be a no-brainer. I am, as a DC electric engineer, designing an installation where the miner and cooling are directly powered in DC from a solar rig. With back up from grid or gen. Should be about 25% more efficient, so feasable in our expensive energy environment. Surplus heat is recuperated for domestic use. |
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Bought at 3286, hopefully bottom is in now
I think that if or when the 20 000 yuan line breaks, all hell will be loose. Interesting times. I guess I'll skip sleeping for tonight. 20 000 Yen broken! Interesting to see what happens now... I put my "Sleep well" order @ 2500€ (so slightly below 3000 USD) |
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I am not so sure of that... . They are very good marketeers. As a customer of them, I managed several times to buy on moments they displayed zero stock... . Grts (uit Gent) |
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