How to get one?
All seem to be out of stock !!!
Trezor are in stock. But if you want my advice, I would say buying one can wait. I bought one that arrived last week and it made me feel like it was a wasted purchase. I store my seeds and private keys well enough for me not to need a hardware wallet. My overpriced Trezor is just one more seed to back up and store. I agree with this. If you're concerned with security you can create a paper wallet, which is 100% secure. The only use case for a HW wallet is for a large account that you're constantly withdrawing from, which for most people isn't the case. For 100s or 1000s of $ an iPhone app wallet is good enough. You can always get an USB stick and just put your keys on there, be it a paper wallet image, or a wallet.dat bitcoin core wallet, or whatever else, just be sure to encrypt the thing. I guess the special appeal with hardware wallets is that they isolate the device from the OS so even if the OS is infected, nothing happens. |
|
|
|
Not only fair but harmful extremely for the bitcoin image, one of the promises of bitcoin was low fees,but now we just have to or rather forced to pay high fees and fee per byte is not even adjusted with the market price, what we need to do is to set and agree on the dollar value of fees instead of satoshi/ bitcoin value.
If you don't pay the higher than usual fee then you'd to wait hours and those unlimited guys are spamming the network to justify the need for an unlimited fork so when people complained about high fees they come and say hey we have a solution it's called BU.
It is unfair and a big disadvantage especially for small time bitcoin users since we can hardly use bitcoin for small transactions since the fees are very high. But it is the price of being a decentralized currency wherein nobody is in control or somebody to regulate the fees that are being placed on the shoulders of the consumers. This is the disadvantage brought by decentralization but we must accept the fact since we dont want bitcoin to be placed under regulations and centrality. It's fair, because decentralization is not cheap, you have been lied to think otherwise. If you want onchain transaction and benefit from a decentralized network then pay the required fee, or wait until lightning network is operative so you can get better decentralization levels than the stupid big blocks idea. |
|
|
|
It is indeed bitpay.
It's obviously good that merchants are willing to accept bitcoin as a payment method, but really what they are receiving in the end is still fiat currency. I wonder when can merchatns actually start to accept bitcoin "as it is" at face value, that is when bitcoin is truly global and mass adopted At least two things are required for that First, we need price stability like that of major currencies (the US dollar, Euro, etc), and, second, we need fast (preferably, instantly fast) and cheap (preferably, dirt cheap) transactions. There might be other conditions like legal status, worldwide adoption, but these two seem to be first and foremost. Regarding Bitpay fees, do you have to pay any if you are using a Coinbase wallet? It seems that Coinbase and Bitpay are close buddies, so somehow you could expect that they won't charge any fees (at least, no network fees) We will never have a stable price in bitcoin relation to the dollar, euro and other regular fiat currencies because simply to reach a stable price, you need to manually control the price, which will never happen due the decentralized nature of bitcoin. So that is out of the picture. If anything, the prices could be pegged to USD, EUR or any other stable currency and adjusted in real time. With LN everything is possible, including the fast and cheap transactions. |
|
|
|
The big difference is that while Kwukduck takes himself seriously, Proudhon always seemed to be trolling for laughs.
Yeah I've also considered the possibility that the guy is just a comedy act, it's either that or pure insanity. But my guess is he was originally a real bear, the typical guy that sells, then the price keeps going higher and he needs to keep saying bitcoin is going to crash in order to cope with their bad decision. It should have started somewhere back in the day, then at some point he just kept doing it to have a laugh. |
|
|
|
Bitcoin is designed in a way that it will never stop going up as long as there is demand for it, and in 2030 the total supply becomes almost reached:  As you can see, the curve becomes almost a straight line. The price should be very, very high in 2030 if the demand is meet. Luckily, we are still early on, notice how in 2017 there is still a nice angle. The more straight the line becomes the higher the price (and the harder to accumulate). Thank you very much for your representative graph; In 2030 If the demand will be relatively the same the supply will be nil casing which will rarify the bitcoin. I think it's time to invest in the bitcoin prices will only go up. Here is another graphic that showcases how disruptive technologies explode in short amounts of time:  This is how the price will act... once people (and by people I include rich Wall Street moguls) realize the unique properties of bitcoin can benefit their wealth, they will buy some and once this happens, it will be a chain reaction and the current ups and downs will look like nothing in the all time graph in 10 years. |
|
|
|
Addicted to Bitcoins ? Of course.. ... Addicted to BitcoinTalk.. !? ..Didn't see that one coming.. I'm on about '1 check every 10 minutes' 15hrs a day, 7 days a week, ... 5 years and counting.. .. I find it comes in waves.. sometimes you become a post monster, for a few weeks you're chatting away ( arguing like mad).. and then you chill out, and lurk for a while.. before diving back in again.. .. Of ALL my addictions.. this is my favourite..  Thanks All! (Maths + Money + Code .. who could ask for more.) I check bitcointalk at work constantly, I have to use a proxy to avoid getting caught... everyone I know that owns bitcoin is also on bitcointalk constantly checking some good content. A lot of the core devs post here in the development section. The altcoin section is also pretty much the best on the internet to find new projects because every new project posts announcements. The speculation section is fun and I enjoy the trolling. I think that even if I got rich from bitcoin and retired, I would still check it pretty much daily. |
|
|
|
Ethereum's collapse is going to hurt Bitcoin more than MtGox. When you have mainstream media spreading FUD about Bitcoin and you have them hype up a ScamCoin like Ethereum, you must know that they are desperate. They like the fact that it has a centralized authority and they like the fact that you have UNLIMITED coins. {More or less the same thing Fiat currencies have in common with them} Have a look at this --> https://www.youtube.com/watch?v=0UBk1e5qnr4 { Ethereum Vs. Bitcoin: What Sets Them Apart? | CNBC } The SEC has not even defined what Ethereum is yet, and if it is classed as a security... the Founders and Developers will be guilty of trading in unregistered securities. Wow, why are people looking the other way, when Ethereum is clearly a Ponzi Scheme? { Greed? } We may see a temporal downtrend if Ethereum collapses, because its marketcap is now on the several billions, enough to create a global downtrend, even if not as strong as Bitcoin of course. But the point is, Bitcoin will survive, and after Ethereum collapses, the resilience of Bitcoin will grow even more. A lot of people will sell for Bitcoin, so in the long term this only helps Bitcoin. Bitcoin doesn't need any other altcoin, they all could die and it wouldn't matter, it's alts that need a strong Bitcoin. |
|
|
|
2018 - First official BankCoin are launched
2019 - Governments start to regulate Open/Public Blockchains and favor PRIVATE centralized BankCoins.
2020 - Open/Public Blockchains are banned in most countries.
2021 - Open/Public Blockchains goes underground and flourish on black markets.
2022 - Ban on Open/Public Blockchains are lifted, because governments are losing tax income and votes.
2023 - Bitcoin becomes the global reserve currency.
This is how I see it playing out in the near future, because governments think they can do what they want and will only realize what they have done, once they start losing votes.
I also predict a big shakeout of doubters of bitcoin being more than a stupid paypal 2.0. The big blockers will die, they will sell and we will shake them out. Those that believed in keeping bitcoin decentralized via a conservative block size will be compensated as bitcoin survives the big government ban and surges above unforeseen prices. It will become the way out for oppressive governments. The ultimate fate of bitcoin is to be a censorship resistant tool to store wealth and not to buy starbucks with it. That could be solved with lightning network running on top of this small blocked decentralized robust network. |
|
|
|
If you have been here for a while.. you should know who kwukduck is. If you don't: He's a guy that has been here for years, constantly predicting the end of bitcoin. Constantly on a bear market. Constantly predicting a crash at every price dip or every price surge. An example of his "predictions":  Well, there's an ever older bear that has been here since $1 was hit. Yes, $1! He has been predicting the end of bitcoin since then.  And the best is: He is back! Once bitcoin drops below $2,000 again, it probably won't ever get back up above it ever again.
Of course this is a bubble. Just look at the data. We'll likely see sub $1000 before the year is out, which will signal the final long term bear trend to near zero.
Exactly! That is the problem. I've been around for a while so you can trust me. I remember in early April 2011, when bitcoin was trading at ~$0.80 and in a matter of a few hours hit ~$0.60! I knew that was the beginning of the end for bitcoin, and its proved correct as we've sustained a long term bubble-pop down trend (you have to ignore the recent highs which are imaginary and will regress to the downtrend mean). I'm glad you can see things clearly as I do, and hope you've managed to escape the catastrophic bitcoin downward spiral. Good luck!
This is insane. Bitcoin has been failing, it reached $3000 since then, but it has been failing in the mind of this nutjob. I guess this is exactly how dementia from selling too early looks like. Very sad to see. |
|
|
|
What is bitcoins intrinsic value has always been a topic of discussion. Some people consider bitcoin as a speculative asset with no intrinsic value at all. To be successful, money must be both a medium of exchange and a reasonably stable store of value. Bitcoin’s utility as a store of value is dependent on its utility as a medium of exchange. We base this in turn on the assumption that for something to be used as a store of value it needs to have some intrinsic value, and if bitcoin does not achieve success as a medium of exchange, it will have no practical utility and thus no intrinsic value and won’t be appealing as a store of value. So basically bitcoins utility as a decentralized medium of exchange gives it intrinsic value, and if bitcoin as a medium of exchange fails then the store of value aspect would not be there, they are connected. In a broader sense, bitcoin needs to be adopted by more people to be used as a medium of exchange to maintain store of value, right. Now there is a counter argument in this article that bitcoins utility as a cryptocurrency is not a satisfactory explanation of its intrinsic value. All other types of assets, intrinsic value goes beyond the asset’s use as a medium of exchange. After all, the reason gold has served so well as money throughout history is the combination of both its scarcity as well as its intrinsic value outside of its use as money. Bitcoin lacks such utility. Now the second part of this argument is true, although gold is rarely used as a medium of exchange nowadays, it still does have intrinsic value and considered one of best store of value assets. I do not agree with the first point, bitcoin is a currency first and then an asset so it's value is entirely dependent on its usage as a medium of exchange. It is also mentioned that the ability to mine bitcoins is what gives it intrinsic value, yeah true to some extent, but in my opinion bitcoin does have an intrinsic value and it is derived from its utility as a decentralized P2P payment system. https://www.forbes.com/sites/jasonbloomberg/2017/06/26/what-is-bitcoins-elusive-intrinsic-value/Are there any other factors that contribute to bitcoins intrinsic value? If we can talk about an ideal of perfect money, one of the characteristics of this perfect money is that it should have no intrinsic value, so bitcoin not having intrinsic value is actually a positive if you consider the game theory behind what would mean for a currency to have intrinsic value. In any case, I see intrinsic value in bitcoin. The fact that you can send money borderless, without permission, is an intrinsic feature of bitcoin. The fact that it is so hard to mutate, it's also a strong positive. Hopefully we can get segwit, then the protocol stays as it is. |
|
|
|
Just saying...
Where will it stop?
We just broke the $2314 bottom of yesterday (by Bitstamp price) so I guess we are going to continue dipping for a while. If you believe in double bottoms, then we'll test $2140. If you don't then we'll go even lower, or retrace and go back up in the middle of this channel. Im hoping it's the former. Im wondering what is causing this. Could it be Ethereum's big crash having an impact on Bitcoin too? Bitcoin fundamentals should be bullish since we are getting segwit soon, but yeah there's that uncertainty too about miners not actually locking in segwit. I guess this is a shakeout of noobs to get more cheap BTC before the big segwit price rise. |
|
|
|
So I'm back. You might not recognize this account , but that is because i made only a few posts around 2011. I was there at basically the beginning. I could be rich right now.. That's an odd thought! I was there, but i didn't put the time or effort in. Now im back, Bitcoin is higher than i ever thought it'd be, and i'm trading on exchanges. Live and learn. I feel dumb for not staying in, but smart for getting back in. What were you doing Bitcoin wise in 2011? Did you even know about Bitcoin?
Most of us know that feeling. I heard about bitcoin originally back in the day in some website, I didn't pay any attention to it because I thought it was a scam that only criminals would use, and I don't want nothing to do with criminals. So I ignored the whole thing. This costed me being a retired millionaire 3 years later... so now i'll have to wait for bitcoin to reach 6 figures per coin if I want to retire... hopefully somewhere next decade. At least you got a 2011 account, that's pretty cool. |
|
|
|
American Banker, a daily trade newspaper that has been covering the financial sector since 1836, recently featured an analytical piece by its editor-in-chief Marc Hochstein entitled “How I missed the point of bitcoin,” to demonstrate how Bitcoin has shown what global banking should be.
Fees and speeds
In 2012, Hochstein noted in an article entitled “Lightning fast, dirt cheap: bitcoin shows what banking could be,” that a new peer to peer digital cash system has emerged. Five years ago, Hochstein praised the Bitcoin network’s ability to settle transactions with low fees and at fast speeds without the necessity and involvement of intermediaries or mediators.
The decentralized nature of Bitcoin remains identical but what has changed in Bitcoin is its fee and settlement speed. Due to the explosive growth of the Bitcoin network and its market, average Bitcoin transaction fees have increased beyond $2.5. In addition, at certain periods wherein the Bitcoin mempool, the holding area of Bitcoin transactions for the miners, is full of unconfirmed transactions, the confirmation of transactions can take hours.
Financial privacy and cost-effectiveness
Since its launch, the problem Bitcoin went on to solve was not the high fees of banking services nor the issuance of an anonymous financial network. Financial privacy and cost-effectiveness came as byproducts of Bitcoin’s actual purpose. As Marc Hochstein wrote, Bitcoin’s primary focus was to establish a global digital cash system that is censorship-resistant and decentralized.
“No, the key thing about bitcoin is its censorship-resistance — something that I only obliquely touched on in my original post, when I mentioned that the currency could be used to purchase drugs on the dark web or send donations to WikiLeaks, which was then operating under a blockade by the major payment networks,” wrote Hochstein.
It seems this guy gets it. This is key: Since its launch, the problem Bitcoin went on to solve was not the high fees of banking services nor the issuance of an anonymous financial network. Financial privacy and cost-effectiveness came as byproducts of Bitcoin’s actual purpose. As Marc Hochstein wrote, Bitcoin’s primary focus was to establish a global digital cash system that is censorship-resistant and decentralized. This is why big blockers are confused. We can't compromise bitcoin's decentralization just to lower fees, we need alternatives for that. Having a big blocksize is definitely not the answer, never was, never will. |
|
|
|
As expected this is the right time to buy cheap btc. Or should we wait for the price to go below than 2000$.
I have this feeling that bitcoin will go down near 2000$ this week.
It won't go below $2000. You're not the only one waiting for it to happen, and guess what, there will always be a bunch of people who will try to outsmart the rest and set their orders at $2100 and above and catch those coins that idiots are selling. I'm saying idiots, because you have to be dumb to sell when it's about to hit a big wall that will make it bounce back. $2000 is too strong, as you pointed out, too many people waiting for it to go to $2000, so the closer we get to $2000, the higher the chances it will start going up again. People aren't idiots and they are waking up to the importance of having a good bitcoin position for the future. "Buy the dip" has proven to be the winning strategy since the inception of bitcoin. Limited supply and increasing demand: It will never stop going up. |
|
|
|
I was researching and reading a certain Whitepaper from a good token project and this statement really struck my thinking:
"With no government or “anchor” backing up cryptocurrencies, the only foundation that cryptocurrencies have is people’s faith in their value. In other words, solely the market mechanism determines the price of cryptocurrencies. At my time of writing, that faith is worth is over $2000 per Bitcoin and this doesn’t spur from the Bitcoin’s intrinsic value, but from what it allow users to do."
In this case, what will happen when that same trust from Bitcoin holders can be diminished or for heaven's sake be gone...would that be the end of Bitcoin?
This also lead me to the question: is Bitcoin really a store of value or more of a medium where our trust is plastered on?
Everything is based on faith, including the dollar, the government, pretty much everything. Without faith then it doesn't work. What makes bitcoin different is that nobody can rig the system without getting caught because it's open source. Jihan Wu tried to game the system with the ASICBOOST scam and got caught. If anyone tries to change the code, everyone will know. Meanwhile the governments can become corrupt and tweak the system against us because it's not open sourced. |
|
|
|
|
Why use Coinbase to begin with? There are plenty of alternatives. Coinbase has demonstrated to be a mess because they have frozen accounts due "suspicious activity". Pretty much all credit card transactions are potentially "suspicious activity" for them. I have never done anything wrong and my bitcoins have all been obtained in legal ways and I find it offensive that I get treated as a criminal by default.
Go into a proper exchange with an orderbook.
|
|
|
|
Now is the time to buy the dip and fill yer bags.
This was meant to happen. We've had a massive influx of newcomers recently, and newcomers expect easy gains, so at the slightest drop they would panic sell. Now it's a great time to take advantage of the panic selling newbies and buy some dips. Most newbies haven't realized yet that nothing will happen in august 1st anymore. |
|
|
|
I am wanting to take the plunge into hardware wallets soon however one thing is bugging me.
I obviously don't want anybody knowing I have a wallet in my safe at home
I understand you need to use a chrome extension with the ledger so that makes it impossible to use tor.
Does the ledger transmit any ip information when creating wallets?
If anyone could advise me on keeping the ledger anonymous that would be great
Thanks
Im not sure because I have never used one. I would guess that they don't collect any information... but you never know, so use a VPN for that, better safe than sorry. Honestly I hate that you need an internet connection to use Trezor, it kind of defeats the point. Why not get Bitcoin Core and put your wallet.dat in some USB? |
|
|
|
|
I have noticed that all the newbies and generally people that aren't hardcore bitcoiners that follow the news daily, are just catching up recently with UASF/BIP148 and the august 1st date, and they think something will happen. They still have not understood the fact that nothing is going to happen anymore because we got segwit, even if we got the shitty segwit2x, but who cares since it is compatible with Core.
|
|
|
|
|
Supply and demand, but there is heavy price manipulation by big players in the field, for example, miners have demonstrated their power by crashing the price on numerous occasions by juggling around with the BIP's that they may or not support. Big miners have way too much power concentrated on their hands, and since the market is not regulated, they are free to keep doing it as much as they want for as long as people fall for their traps and sell when they want to.
|
|
|
|
|
Show Posts
