We need to have Bitcoin simplified for people who are not tech savvy.
People who are not tech savvy would be better off not using Bitcoins. Already robberies and hacks are targeting even the most tech savvy of the users. If the less tech savvy decides to use Bitcoin, then it will be just a matter of time before they are conned. This shouldn't stop Bitcoin. It's about time that the average user learns more about security. Hacks are damaging the business though (a lot of $ a year for the US alone). What should happen is that people should develop apps that make security automatic and behind the scenes. |
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 Was also my reaction this is neat if I remember right and comes in second place for the Bitcoin news of the day ha-ha Expedia won lol. That said I am glad that Yahoo Finance is taking Bitcoin seriously enough to add its own ticker for it. This comment summed it up “This is literally the best news I’ve had all day, and the day is still young!” said one commenter. “Another nice stamp of approval,” said another. Amazing to think its going by day now this might have been the news of the week a while back and a month before that. And yet the price is going down a little bit : 607$ on Bitstamp atm It looks like a really good time to buy bitcoins The short term price of BTC any investment does not matter, it is the longer term price that can make or break people. BTC being on the yahoo finance page will get more people to get interested in bitcoin and to use it If you get in @ 50 and it goes to 500 you made 1000% but if you got it @ 120 you made 410% If you think it is going way up and you don't want to speculate on the price going lower before buying, you should just buy as soon as you can Doing this can be dangerous as it could be a long time before the price recovers enough for you to turn a profit. If you think it is going down you can wait to buy or even short but you are trading then because you are thinking you know how the market will react in the short term If you want to invest in Bitcoin and believe in its long term potential you should buy and hold; some try to play the big waves in price, it is dangerous and you need to be really connected to the market to do so effectively Well let me ask you this, what would you do if the price went below your purchase price and you needed money (you have no other source of funds)? The answer is that you would be forced to sell. |
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What happens if Bitcoin market cap reaches a globally significant level? In the following I'll try to sketch why it will be in the interest of the bitcoin community to hard fork to a different supply scheme and sacrifice bitcoin's original philosophy. Assumptions for such a fictive day in the future: - Bitcoin becomes widely adopted for legal commerce and its market cap reaches an economically significant level.
- the bitcoin community has become ideology-free due to mass-adoption
- bitcoin holders and miners act rationally and purely out of self-interest
Consequences: Central banks will loose power due to the unregulated cryptocurrency and they will not like that (And I don't want to discuss if they are right or wrong here.) Governments will not like the fact that their central banks can't control money supply anymore and will therefore regulate the use of cryptocurrencies. Most probably they will forbid all companies to accept bitcoin. (And do not think that such a ban would only be imposed by "evil governments". Such a decision could very well be made with democratic legitimacy.) In the best case they will allow the use of cryptocurrencies under the condition that a central bank controls their money supply. So the bitcoin community will face a choice: - Stick to the fixed supply model and get banned from legal commerce. This would destroy BTC value and bitcoiners would loose a lot of money (or more precisely: wealth) within short time.
- Accept regulation of money supply by a central bank and hard fork to a centralized money supply algorithm. This would prevent a price crash for BTC as the currency could survive as a legal means of payment
As I assume rational behaviour of at least 51% of the miners, the choice is obvious. The loss is smaller in the second case. The 21M money supply cap will fall. I would like to believe that a majority of newbies can easily be taught how important the controlled supply is for BTC to succeed. For the next few years we are safe, and after that only time will tell. I think this person was trying to say that bitcoin would be so widely adopted that it would almost completely replace fiat currency. Central banks would not be able to control interest rates and inflation (printing money). As a result the government would force Bitcoin to become somewhat inflationary via a change in the Bitcoin code. if the code was not changed then the government would regulate it to death. This is not what I think will/should happen but what the above person was trying to get across. |
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Where is the bloomberg link ?
This looks like the bloomberg terminal, not the bloomberg website. The terminal is available to wall street/investment banking professionals and costs tens of thousands per year WTF extra the terminal offers over publicly available live data ? Live data from exchanges tend not to be free as most exchanges will charge to access live data. What you see from Yahoo finance is likely data from ACRA or another smaller exchange (unless this fact has changed semi-recently) Bloomberg also provides a news/wire service to subscribers as well as a messaging platform. It is very expensive and I honestly cannot understand how banks justify buying even one subscription (they need to buy a subscription for every person that uses it). |
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It's just an app made by someone else. Facebook is just allowing that app.
yeah, i doubt facebooks ceo even knows such apps exists in their network. all apps are allowed if they dont break t.o.s., so this isnt such a big of a deal as some ppl would like it to be. shame, coz facebook would be a nice and wide market that could make bitcoin even more viral I would be surprised if Zuckerburg did not know about major apps and/or apps that are bitcoin related. Bitcoin has a lot of profit and Zuckerburg is likely watching it closely |
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I would not consider the exchange provider that expecia is using (I think it is bitpay) to be shady. Expedia is using Coinbase, not Bitpay. Why you would not consider them? Coinbase is run by very trustworthy people, and they have done a lot recently to spread the popularity of Bitcoin, such as their bitcoin giveaway for the college students. I said that I do not consider bitpay (and coinbase) to be shady. Coinbase really has done a lot to promote bitcoin and the college promotion was likely very profitable for them (in terms of sales from new accounts) and likely got a lot of smart people interested in Bitcoin |
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if you stick with the main proper wallets there is no chance of doing any fake bitcoin.
if you use a different wallet. then that 'fake' is..... just another altcoin.
if its not bitcoin, its an altcoin, simple as.
a prime example is bitcoin script, bitcoin 2.0 both of which pretend to be bitcoin, but are not
What if someone made a a complete replica and starting a phishing website similar to the fake blockchain.info or they made a new bitcoin wallet websitethat was on google, so people created accounts there thinking it was the real bitcoin, when it was the fake bitcoin, and they let the scam go on for a while until the site gained a lot of activity, and they eventually convinced exchanges to update their wallets to the fake bitcoin wallets on the site, thus spreading the fake bitcoin even more. This happens all the time, only it is not to create a fake bitcoin but rather to steal credentials to user's blockchian.info wallet |
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That must be China, just by probability and country's population. The youtube views of that PSY guy are just by probability and country's population.
Enough with the China hype.. Why not Tokyo? Still the largest city and .. satoshi nakamoto  . But now really , there is no usage of btc in china , almost no shop using it. I doubt that there are more than 1000 chinese that have btc in their wallets (not on their fake volume exchnges). My bet would be on either NYC or one of the major European cities close by. China isn't actually a city lol I doubt that satochi is actually of asian decent. He probably chose that name to throw people off about his identity |
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if we all block the FBI from making the transaction, wouldn't it make bitcoin more centralized that most people are wanting? doesn't that pose a dilemma then? while i don't like what the FBI has done, i think OP's proposal is a little extremist.
It would not make the Bitcoin network more centralized. It would make it so that bitcoin would not be fungible. How it is now if you were to go to the marketplace section of the forums and offer to buy a couch (or another good) from a user for 1 BTC, they would accept your offer, you would send the 1 BTC and they would send the couch. It would not matter "which" BTC you sent as the 1 BTC that was sent is exactly the same as any other 1 BTC that any other person/entity has. If you were to "block" the FBI bitcoin from being transferred/sold then each bitcoin could potentially have a different value. Even if the FBI coins are never sold, your 1 BTC may have a lessor value because they are somehow tainted with an address that is believed to have stolen coins in the past. You would have had absolutely nothing to do with the subject theft but would still suffer. |
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A socialist society eliminates the unjust relationship between labor and capital that gives rise to poverty. By taking away the capitalists’ right to exploit labor, the working class is free to decide how the fruits of our labor are used. Needless to say, under this system no one will go without the basic necessities of life.
Socialist societies are similar to a "utopia" they sound great on paper but in reality they cannot work and must have some small elite group of people having a vast amount of power |
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It isn't when you deal with shady fucks on the forum.
You want profit, vertically integrate. Don't deal with anyone but the chip designers and manufacturers themselves.
Even then,the RoI is in negative territory for new ASIC miners. Ummm. No it's not, dumbdumb. Kindly let us know which ASIC miner gives positive ROI? That's not what I'm saying. I'm saying you need to vertically integrate to maximize ROI. That means you have chip designers make the chips, then have the reels manufactured, and then the boards manufactured, and then mine with them, and finally sell it as second hand garbage once you milk 80% out of it. Same process bitfury and knc miner and all the other 'ASICs' selling to the dummies out there. I agree with your concept, but wouldn't this generally require a significant amount of capital? I would think you would need to achieve an economy of scale in order for this to happen. |
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You know what? There have already been coins being set up to make it so that the developers can take a percentage of transactions and block mining and use it for their own purposes, it would actually be incredibly easy and even eliminate the need for tax collectors etc. for governments to make their own coin and take a percentage of all the currency to fund anything they want. While yes, currencies like Bitcoin will remain tax free, it could actually be incredibly easy to set up a government backed cryptocurrency. They'd just have to make it appealing, hell because of the way the blockchain works, they wouldn't even need a tax revenue department anymore because it would all be done automatically.
I have had some in depth discussions about this and am not convinced that a government could successfully do this. It would certainly be interesting to see one or several try it and see what happened. I understand how this would be beneficial to the government (they easily collect taxes) but how would this benefit users? If "IRScoin" (I don't think this is a real coin) automatically pays taxes and you do "not" owe any taxes on bitcoin wouldn't bitcoin always trade at a premium to IRScoin? If it traded at a premium I would think that it would be more profitable to mine bitcoin then IRScoin (assuming they could not be merged mined and they use the same algo) making the IRScoin network less secure. EDIT: it would depend on the difficulty, but you still have the issue of bitcoin trading at a premium |
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It's pretty easy to get internet under a fake name.
Even if you signed up under an alias wouldn't your IP address still be associated with you house/apartment? |
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It's a great idea to fund raise with bitcoin and now that the IRS has figured out how to tax it; we should be able to write off our
charitable donations too ;-)
Charitable donations would be a great thing if you have bitcoin that has significantly appreciated and you would donate to charity anyway and you have other, additional income. My understanding of the tax law regarding donating appreciated property is that you can take a deduction for the full value of the asset and do not pay any taxes on the gains that you had. For example: Suppose you bought one bitcoin for $10 Today that same bitcoin is worth $600 If you were to sell that bitcoin on coinbase you would owe taxes on the $590 in profits If you were to donate that bitcoin to the redcross then you would take a $600 deduction on the value of the coin and would not owe anything for the gain |
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Seems to not have boosted the price. I hope not too many people start booking vacations on Expedia and it starts suppressing the price...
When companies accept bitcoin they will often sell the bitcoin in exchange for fiat as they must pay most of their bill in fiat. Expedia must hire (or use existing) employees to manage the bitcoin process, monitoring sales, selling the bitcoin to pay it's fiat bills, explaining how the process works to customers, ect. These employees will see how well bitcoin works in general and would possible become adapters of bitcoin themselves. I didn't even think about the individuals within the company that would could potentially be new players just because of their companies choice to accept BTC. Nice pointing that out  Why thank you. Although this would be a relatively small number of people, I would think that anyone at the company that deals with the bitcoin side of things would almost certainly be at the very least get interested in Bitcoin |
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Best option would be using a local trusted exchange, if you have this option in your country. You can ask for reliable local exchanges in the subforum of your language, if you are not from an english-speaking country, or maybe here, if your language is english but your home is not UK or USA.
Or find some friend with bitcoin, but unlikely, since bitcoin still is underground.
Exchanges will not allow you to buy the same day. Here I can transfer or deposit money from a local bank account, then send the deposit's information and they put the money deposited minus fees on my account. Usually happens in the same business day, if I make deposit and send confirmation before noon. Don't know how things are in USA and in other parts of the world. You might need to verify ID, but at least here it quick, and there is at least one exchange that lets you make cash deposits without veryfiying, but with low daily limit, and with no direct bank transfer. What I was saying is that exchanges will make you wait several days after you send them funds while they wait for the funds to clear If you use virwox, you don't need to verify your documents and you can transfer using PayPal instantly. That only applies to PayPal though. They let you transfer money to them using paypal? How do they prevent themselves from getting scammed? |
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Faucets are generally a waste of time.
i disagree i think faucets let people who are still skeptics have a chance to get some free coin and become a part of the community before they invest into it. if it wasn't for faucets i probably wouldn't have got in to cryptocurrency at all. but i can see where some people say that they are a waste of time because you will most definitely not get rich with faucets or even make a profit worth mentioning BUT If you want to test the waters and play some games or even get the hang of some exchange sites then faucets can provide you with some free coin to do it without any risk so are faucets useless.... no are they profitable.... no do they allow new users to become a part of the community without risk YES!I HAVE CURRENTLY MADE OVER $100 DOLLARS AND I HAVEN'T INVESTED ONE RED CENT IN BITCOIN You are correct to say that faucets can help a user understand how bitcoin works and get a very little bitcoin in the process. Financially speaking they are not a good use of time. You say that you have made over $100 in bitcoin without investing (I assume you mean haven't purchased any bitcoin with you own fiat money). First I say good for you, I am glad you are making money. Second I ask how much time did you have to invest in faucets to get that much bitcoin (I assume that is where you earned your bitcoin from)? Could you have potentially gotten a 2nd job earning minimum wage, if so how much would you have earned if you spent the same amount of time at that 2nd job? |
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The most secure way to gain from having bitcoins, with no risk at all is to lend them on bitfinex.com.
Use the code 5l4wLVc4LW when making a new account for a 10% discount on all fees.
Do you have a guide on the lending process? The website is confusing with all the investing jargon. It is impossible to not have any risk if you are lending. You are paying 15% of your interest for insurance of the funds, so it's not imposible. Your statement is not correct. You are implying that you are purchasing insurance against the default of the borrower, but even this is not risk free, you are only mitigating the risk. The borrower can't default. He can't take take your bitcoins or fiat and leave. He is just using it for margin trading and he will get his position close when he is aproaching the margin limit. The insurance is in case of a sudden spike or drop in the price and the platform could not react in time to close his position so it will cover the eventual loss. What if the exchange goes under and/or if the price of bitcoin moves too fast for the exchange to automatically close the position? |
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5000$, written in the landing page. I didn't see in OP. I see on the website that there has been some pledges is that updated instantly or once the wire transfer is confirmed? [/quote] They are charging a 5% fee if they win and will charge $100 if they do not win. I am not saying that they are not legitimate but the limited timeframe to submit bids would be a great opportunity to try to pull a scam. |
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Having to trust GHash is completely beyond the point. What if they were perfectly altruistic, but someone held a gun to the operators' heads IRL while performing an attack? Removing the need for trust has the added benefit of removing responsibility to protect against wrong-doers.
good point its the same as the scenario of a pool that had 30% and another pool having 21%. some well organised guy can easily arrange to raid/bribe the 2 pools and get them to implement the same code. meaning a total of 51% of miners would be relaying new confirmed blocks that have nasty rules added. the only solution would be a 10% cap that is put into the main protocol, that way pool owners have no choice, but to only get a 10% customer base/chance of solving a block and would require 6 pools to be collaborating/co-erst into doing nasty mining rule changes How would you enforce such a cap? Couldn't a pool operator simply broadcast found blocks to different nodes and/or have the found coins sent to different BTC addresses when blocks are found? |
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