Bitcoin prices are on the rise, what do you think are some opportunities that Bitcoin can bring to the community?
From what I see, BTC remains as a cryptocurrency for investments, business/online services, and we are not seeing a lot of these BTC in our communities (yet).
What are some ways to promote and make use of BTC in our daily lives? An Example I can think of is to make Bitcoin payment through mobile easier, like AndroidPay.
Yeah, I agree with you that bitcoin is not currently accepted in actual communities much by merchants. I hope that this fact can change in the near future as more bitcoin adopters come. I can see a lot of growth in terms of online merchants accepting bitcoin but i guess physical merchants are reluctant to do so because of the high fees and high transaction confirmation times. Opportunities? Well everyone can invest in bitcoin, that's for sure. It's accessible to anyone anywhere, even in countries like Venezuela where cash is worthless. You can trade p2p, so no need to wait for banks to open. If someone can make a killer app for bitcoin like you said, that will probably be used by every bitcoiner as well if it succeeds. |
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So we've got bitcoin, which is great as a deflationary digital gold type of thing, and great for buying very expensive things or moving large amounts of money around, and great for just in general sending large amounts of money. And we've got ethereum whose decentralized network of apps may or may not become a reality.
But one piece missing, a widely used blockchain coin with near instant transaction confirmation and very low fees. Bitcoin is fine for buying something online when neither party cares that it'll take an hour or so to complete the transaction, but how buying other things with bitcoin....it is entirely unsuitable. Lightning Network I guess could solve this but I'm not totally sold on the Lightning Network. Wouldn't its only use be for when you are a repeat buyer somewhere, whether it be Amazon, or Starbucks, or whatever, because you have to tie up a certain amount of bitcoin with that other client. Or is the idea that everyone would eventually be on this totally interconnected lightning network and it would end up working seamlessly? I've read explanations of Lightning Network but not really sure I fully understand how useful it would be. I mean wouldn't most transactions be one-off transactions and therefore not use the Lightning Network (also has me wondering how much scalability it would actually provide).
For cryptos to be used as an actual everyday currency I think there needs to be a third main pillar in the crypto world beyond bitcoin and ethereum (assuming they both succeed as store of value/move or spend big money and decentralized apps). A coin that fully confirms a transaction within less than 5 seconds - about how long you wait for the credit card to work in a store - and fees on the order of a cent so that small purchases and micro transactions are possible.
Thoughts, opinions? Can bitcoin handle these things after Lightning Network and scalability is solved? What about bitcoin being wayyy too slow for lots of types of purchases? Will bitcoin be relegated to digital gold and another crypto takes the mantle of an actual currency? Do you think there will be other major use cases for cryptos that will see more than 2 or 3 coins emerge as globally successful?
Bitcoin fees are already much lower than bank transfer fees when you send money overseas. And when bitcoin forks to solve this transaction fee problem then it'll be nearly free. It's really not a good argument to say that because bitcoin has a fee and another altcoin doesn't, bitcoin isn't going to have a future. In fact if near instant confirmations and no fees on transfers is what you're after, as well as low volitility compared to bitcoin, then there is already an altcoin available called Steem Dollars. You can send/receive with 0 fees no matter how many times you do it and steem dollars are somewhat pegged to the value of a dollar. Bitcoin is a bit like gold, in the sense that it's a good store of value but probably not designed for instant day to day transactions. Sure, there might be some altcoins that will exist alongside bitcoin and be successful(ethereum etc.) but bitcoin will be #1. |
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Chevad, thanks for trying to help OP out here but unfortunately doxs do not belong here. Please repost this information in the investigations board under reputation and delete this post because I'm pretty sure that it's not allowed by the forum.
Can anyone confirm that this is the real Chrislandin? Because it might be a hacked account OP was dealing with due to the fact that the user ID is so low. I have no proof to back this up though.
Anyways, OP hope you have learned a lesson. If you don't use escrow here you are literally begging to be scammed.
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Small update here. We have created ChipMixer plugin for Electrum. It allows you to tumble your bitcoins with us without leaving your wallet and it is even easier to use than website (prefill forms, creates new wallet and imports private keys for you). You can check readme and screenshots here: https://github.com/chipmixer/electrum/tree/plugin/plugins/chipmixerPull request is pending, maybe it will get included in next version of Electrum. That's awesome! Even the bitcoin mixer giants hasn't got anything close to that. Looking at the screenshots it looks absolutely fabulous and will definitely encourage electrum users to get in the habit of using a mixer for privacy. I'm wondering though, if i use this plugin does it mean that chipmixer will be able to access my private keys on electrum when they need it(since deposit is done through the plugin, right?) and also when i withdraw it's basically just importing private keys into a separate wallet, correct? Isn't sweeping it more secure since there is always a risk of these private keys being compromised and when they get spent nobody knows who to blame? |
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If you have a really good site with good visitors and a high traffic, you can use Ad-sense account to earn much money by ads. I dont think adsense will make a payment via bitcoin but you can convert the given payment to bitcoin. I think they pay high and have really a good business deal. Many people use adsense for their blog, youtube channel, websites, etc. You can too do the same. You can use it for a month and if you think its not paying high, you can remove the adsense adds. But according to me they pay high amongst all such paying sites.
Adsense does not allow many faucets to use them, which is the reason why a-ads and mellowads are successful against this marketing giant in the first place. If there were no rules regarding the usage of adsense advertising placements on bitcoin faucets then everyone would be using it because it pays way better than any of these services i've listed above. More for info see this article: https://99bitcoins.com/adsense-apocalypse-bitcoin-faucet-guide-survival/ I'm pretty sure that ePay went bankrupt because of issues with adsense, so thus i don't think it' sa good idea to use adsense at all and risk getting your pay confiscated and account shut down. |
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i think these things overtime will make bitcoin not as valuable.. plus the fact banks (while hated by most), have hundreds of years of reputation behind them and are easy to access... Just reading and learning about the ins and outs of bitcoin make my head hurt and I'm fairly saavy when it comes to most tech
This is only a temporary issue. Every single decentralized cryptocurrency/app will experience scaling issues and bitcoin is going through this scaling problem stage right now. The biggest problem isn't even transaction fees in my opinion, transaction fees are fine. I can afford paying $2 per transaction once in a while even though it's a hassle and pain in the ass to deal with because i have to limit my transactions to less than i would have liked to. The main issue si that this issue is causing infighting in bitcoin as to how bitcoin should scale. I think you really need to watch some bitcoin related vids before commenting on this issue. Bitcoin is a long term store of value. It is the first cryptocurrency, which means that it has the most reputation as well among all other cryptos. It has a lot of potential and if you're not invested in bitcoin then you'll be paying for it in the future  |
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hello,
i know about a-ads network, i would like to use more services like this to monetize my site. please suggest networks that have high payment and lower withdrawal threshold.
thanks!
What exactly are you looking for? Many options out there that offer quite drastically different products. Coinurl is good if you have a site that constantly uses hyperlinks to link to other sites, for example a money making blog is good for this sort of thing. If you have a lot of visitors try adbit, you list your website and people bid for advertising space but don't bother if it's just a blog. Mellow ads and a-ads are probably the industry leaders here, i suggest you stick to them. Although theres also coinad and cointraffic which imo isn't as good or reputable. |
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I checked there, most of the altcoin wallets are in maintenance status (yobit -> wallets -> deposit).
Checked some 15 altcoin wallets, except one or two all others are in maintenance status.
Have anyone ever gone for depositing even wallets were showing maintenance status ? I keep on checking there, no improvements for more than 24 hours.
Don't do it mate. Yobit is notorious with its customer support so if you deposited coins into a maintainance wallet you probably won't get your money back. If you are lucky you will get your altcoins back but only after half a year of waiting and the altcoin has now been pumped and dumped and served its purpose, and its dead. And they'll just ignore your customer support requests whilst listing new shitcoins every day. Just deposit your coins onto another exchange where it's not maintenance mode. Are you trying to arbitrage? Because i know the prices on yobit can seem to be a great arbing opportunity, but its really not. |
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Very informative article.
If you don't want to get scammed when using bitcoin its really easy. Use your damn common sense and don't get greedy. Because if you get greedy then you've alreday picked up the scammer's bait - they want you to be greedy so that they can work their techniques on you to suck you in further.
Since you are a bitcoin lawyer - i was wondering are you involved with suepoloniex.today at all? A lot of complaints against them recently and even that site was launched. Maybe you could reach out to help some people who lost big amounts.
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While Bitcoin there are a few scaling options, it appears that a number of Bitcoin investors have been switching to Altcoins, and may not switch back to Bitcoins any time soon .
What will happen if investors continuously switch to altcoins? Will bitcoin crash ?
If investors keep switching to altcoins then obviously bitcoin will crash as more and more bitcoin leak towards the buying of altcoins. However this scenario in my opinion is extremely unlikely to happen for a number of reasons. Bitcoin is the first crypto currency which means that it will always have the trust and status unmatched by even major altcoins such as ethereum. For example, there are much rarer metals than gold on the planet earth that have the thins needed to make a good currency or asset. However people had this trust in gold, much like crypto people have an innate trust in bitcoin. It's not all about high end technology but rather being good at what you do. In bitcoin case it is mainly the storage of wealth. |
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We're experiencing an amazing growth to almost $3000,- today, but we all know that it will have some corrections here and there.
How much do you think it will drop? <$2000,-? $2000-$2500?
or maybe $2500-$3000,-
I really can't see bitcoin hitting that $3,000 barrier. Even if it does it'll be so brief that it makes no differenc in the end. However a correction seems to be looming over bitcoin. Personally, i don't actually think that we need to worry about this correction. Or at least losing sleep because of it, that sort of thing. First of all, i think that it is established that bitcoin ain't going anywhere below $2,000, period. That seems to be the consensus floor for bitcoin right now. So if you buy now, the worst you'll do is lose $700 per bitcoin. That's not bad of a percentage loss compared to the 2013 pump. Also, the price is quite stable at the moment. Been at the same sort of price, hovering at $2700-2800 for 2-3 days now. Maybe this will just become the new norm. I'd put my money on $2000-$2500 though, seems the most logical. |
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Many people are now curious to know what bitcoin is, whereas once bitcoin was just underestimated, now upside down many people stop working instead they prefer to focus on bitcoin
Is this the impact of rising bitcoin prices?
Yeah definitely. The rise in bitcoin prices has brought a lot of publicity, and most of it is positive in my opinion. The point though is that the price isn't everything. Just because bitcoin is sky high doesn't mean that it has a reason to be this high. In fact a lot of it is indeed speculation, and pure speculation. The transaction fees are incredibly high, for example, forcing bitcoin users into using paid accelerators. A cryptocurrency shouldn't have "acceleration" services, especially paid ones. But on top of all these problems bitcoin has seemingly just took off. A bubble? Probably. Sell? Maybe. I'd rather see bitcoin more stable than rise so quick. |
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It's really tempting for me to sell now, however I feel like that if i do sell now it'll be a waste of effort. I don't think that bitcoin is going to go that low anyways even if there happened to be indeed a correction coming. I would much rather just hold for the long term. It seems like the right thing to do to at least put away a portion of your savings into bitcoin and just hold that portion no matter what happens - because after all you cannot make money with fiat, but you can with bitcoin. You're free to do w/e you deem best for your own situation though. |
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Thanks for the awesome comparison. I think it shows basically how much bitcoin has actually grown since its inception. A lot of haters still out there but lets not have them affect our focus on the future of bitcoin. I think that 100 billion was somewhat short lived considering that the figure has dropped down to 90~ billion again. We may not see it for a while above $100 billion since bitcoin is pretty stagnant at the moment. What I can say though, uber's whole company's market share is not even as much as crypto's! |
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I think the admin of the site does get some donations from users that like the site service and from the amount of donations collected, the admin are still able to handle the transaction fees but in my opinion as the site gets more and more popular in the future, more donations might be needed to handle the huge volume of transaction fees.
I think that the donation model is only going to be partially covering the transaction fees. Because rightn ow if you are sending bitcoins you're looking at least 0.001 BTC and that's if you're lucky. Exodus is charging like 0.004 BTC per transaction which is crazy. It's ultimately not up to us how chipmixer watns to operate their business - the donation model might only last a few weeks before a fee schedule is introduced. Who knows. But it's still a hell of a service. This is a much needed service for Bitcoin users. It will help make Bitcoin more anonymous than it already is. More investors are likely to choose Bitcoin if coin mixing services are successful and are not too expensive.
Makes everything much more simple and effective in mixing coins, ikr? |
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Hello!
I have some websites with a few hundred views per day and i want to earn some bitcoins through ads. I tried several websites like bee-ads and similar
but because my websites are not bitcoin related i got no advertisers. Now my question is does anyone know a website where i can earn directly some bitcoins for displaying ads on my websites??? Even my websites are not bitcoin related...
greetings
True
It's not worth it man. Adsense i'm pretty sure has banned bitcoin sites because there are so much traffic that are either bots or completely ignore the ads because their sole purpose is to collect from the faucet. The owners often do pop-under ads and other dirty things to force the visitors into clicking the ads. I've tried a-ads personally, never tried bee-ads. But a quick glance seems to tell me that they do not pay well at all. Focus on affiliates connection to other businesses rather than amking a quick buck or two out of ad revenue. Not only is this going to be a much more long term revenue source it'll earn you infinitely more as well. |
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Would you buy Bitcoin now with hard cash since the price or value increases daily, or you just going to earn it through mining, faucets, social media and signature campaigns?
I would argue that fiat currency is not hard cash. This is because the governments have full control over the issuance of fiat currency and therefore, the value will always depreciate in the long run as a result of the constant abusing of their power to print more and more money whenever they feel like it. And it's almost comical how they "take out loans" from the fed as an excuse to print more money. I mean come on, who are you trying to fool here? Some 3 year old? Bitcoin on the other hand, is a hard cash. It is decentralised, and irreversible. Nobody can tamper with it the way governments do. If I had the fiat, i'd be at least spending 20-30% of it buying bitcoin every week and just letting it sit there for the long run. |
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So I have a Question.
What are you thinking about compensation against bitcoin loss, is it possible to get a kind of redress in the case of a hacker attack?
If there is some sort of compensation or resolution system in bitcoin then there is no difference between bitcoin and paypal. Bitcoin is extremely anti-paypal, in fact in my opinion is the complete opposite of paypal. The thing is, online sellers have gotten sick and tired of paypal chargebacks and credit card fraud. Bitcoin is bitcoin, if it's stolen it's stolen. It makes no difference. Do your own due diligence before you open a bitcoin wallet and send coins in there. Make sure that your laptop is fully secure. If you take all the reasonable steps, your coins are as safe as it is in a bank(if not more so). |
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I am living in a still-considered as a third world country which kinda suit me because the standard of living here is still low and we can easily afford all the necessities of life and even some luxuries here and there. Money here goes a long, long way at least compared to developed countries like USA or Japan for that matter.
It is then good to retire here most especially if you have the money in your purse. Now, I am planning to set aide even just 1 Bitcoin as part of my retirement plan...of course it is just part of the mix as I am also into cacao/mango/coconut farming which can also serve me well when I am retired.
Do you think 1 Bitcoin can be good for retirement...let's say 20 years from now?
It's a good idea to diversify your retirement fund so that not all of it is in shares or property, or whatever you are investing in. Bitcoin is probbaly one of the best options out there, possible. How many bitcoins do you need to retire comfortably? Probably not one. One is just too little, even with a price rise that won't be enough for a 20-30 year life after retirement if you are lucky or at least 15 years. You need around $40000 a year to retire comfortably at the least, times that by 20, you get $800k. I'd say that bitcoin at $80k each isn't out of reach at all. Aim for at least 10 btc. |
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I noticed many pro government Regulation of Bitcoin popping up everywhere thesedays it makes me wonder whether fellow Bitcoiners are in support of these people or more focused on accumulating more Bitcoin & Altcoin.
Would Satochi be in Support of Regulation? Are you in support or against?
I think that the consensus is in the bitcoin community at least that governments should not mess with bitcoin. They should leave bitcoin as it is right now - completely decentralised and out of reach of any SINGLE power entity. Obviously governments would like to change this fact because they simply don't want people having full control over their own finances. Period. Rightn ow people are able to adjust interest rates, print more money to control the whole economy. But what happens when bitcoin is mainstream? How will politicians lie their way out of an election and fulfill their promises by printing more money? There is no way. I wouldn't be surprised that btc gets banned in some countries in the near future. However this will only show that bitcoin is a real threat to fiat and encourage more to use it as it is nearly untraceable anyways. |
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. But how much is that? 
