I think the price would rise by further 20% to 30% if they take efforts for reducing high fees and the confirmation time. No one likes to wait to get their transaction confirmed but at the same time paying high fees is not a good option to go with (especially when we have lot more strangers to reach). I would say if we are finding any concrete solution on this issue then it will have long-term positive impact on the bitcoin.
yes that proble is needed to be solve without increasing the fee. people want the transaction to be conform and specially those people who are using bitcoin in their local shops because they cannot wait for a long time in the shops for the conformation. Exactly, I would never imagine myself waiting in a bitcoin ATM for 24 hours to wait for the transaction to get confirmed and the machine dispenses the cash. I am still worried about using bitcoins for local shops (there are not a single merchant in my town but still), it would create huge mess IMO. What makes you think that the ATM would take such a long time for conformation? The ATM's will most likely be instant and you will get cash instantly but there would be some sort of clause for such ATM's meaning that either that you should have double the amount of BTC with loads of conformations already. Etc. I mean when a person is trying to deposit the funds from his wallet to the ATM 9to withdraw fiat amount) in such case if he is including average fees as usual even in a case of confirmation backlog (being completely unaware of it) might take more time for ATM software to identify the payment as it will look for confirmation from the at least one block so it would hold fiat withdrawal request until transaction gets confirmed. I have never used an ATM, but I can imagine that the guy who invented ist must have forseen such a situation. Besides, one block is found every ten minutes in average. I can not even imagine myself to wait ten minutes in front of an ATM to get my coins. I am confident the developer has integrated a way to transfer the coins without having to wait in front of the ATM in a reasonable time. |
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is bitcoin more popular than US Dollar ?
There are lot of different opinions and speculation that we are going to find out what their side of comment between USD vs BTC. Actually, bitcoin has no tax, and no government, and can be trade by the person while USD it is controlled by the government and it can't be trade in the exchange by the ordinary citizens. You're probably never exchanged your money through a bank or some kind, did you?. Even kids nowaday are able to make a trade through forex which doesn't require ID to get through the verification process.  Patience my friend. USD is a very known currency throughout the world. It is used with every mutual fund or other investment companies. And do you know that there are a lot of people that are trying to buy USD and just store it until it grows. This people are from different country, their only reason is because they trust USD will also get stronger and valuable. I think the people who buy the dollar have either a lot of money and want to split their risks, or the fiat in the country they live in has a problem. Especially people from countires where the inflation goes to the moon tend to buy other currencies, not because it will rise in value, but because it keeps its value. And the currency they buy are the largest ones, because they tend to be the most stable ones. Maybe one day bitcoin will be a large currency as well, but we will have to be very patient to see that happen. |
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When the price goes down, there is mostly panic on the market.
All those who sell, want to sell as much as they can in order to save the profit or cut the losses.
But when they buy, they often buy step by step.
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Hi What could I do to get more bitcoins? I have 0.6BTC to invest. I might want to start trading ..  Thank you Shawn I would simply keep the coins. If you invest them, you will join a long and sad list of people who all say on thing now ... 'I wish I had not invested my coins'. It is very likely that the site or company you invest in will turn out to be a scam. Or bankrupt before you get your money back. Just don't be too greedy. |
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I have started looking at the mem pool size when I make a transaction.
It's not even the fees that bother me, but the fact that a transaction takes that long.
Even transactions with higher fees have taken way longer than I expected them to be, so now I simply don't make the transaction when the pool is full anymore.
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From all I know that ETF decision is for the entire US.
The regulation mentioned in the article is just for Hawaii.. so I can not see any connection there either.
Maybe Hawaii is amongst the first states who make that regulation and otheres will follow, but I don't think it's connected to the ETF.
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I am not so sure if the SEC decision is really that important.
If it gets not approved, nothing will happen, because it just means bitcoins are not included into funds (what they are not at the moment anyway).
And if it does, bitcoin can go into funds. But who would want to buy a bitcoin fund if he can have real bitcoins?? I do not get that... or am I missing something?
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it is blockchain (the technology) not bitcoin. which means the banks and so many other financial groups are very interested in this technology and want to "create their own altcoin". they will make a ledger and possibly not even make it public and use the technology to increase their security, and speed for internal transactions.
The bank are only interested in using the technology and create their own private larger, I agree with your comments on the reason why bank are developing they own blockchain. They might not using bitcoin but this will promote bitcoin as bitcoin created the foundation for blockchainer. What's private larger?LOL. Blockchain is the another chance for the bank to take more advantages for his system. They will be running on the fully automatic system with the blockchain adoption. Blockchain is not about bitcoin and it's not promoting bitcoin. I think that the word blockchain often comes along with the word bitcoin. People who are not very familiar with that often think it's the same. When banks start to work with blockchain technology, I'm sure a lot of people think that this includes bitcoin somehow. To me that is some free promotion bitcoin gets. |
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Bitcoin is being used widely in porn sites, gambling and drug dealing sectors. Is that why the btc made for ? I have seen a lot of members in this forum discussing about buying drugs, gambling and enjoying porn with bitcoin. Is not it a misuse of a currency ? Block chain tech is a awesome tech and btc is getting popular. I hate these misuses of precious btc. It hurts me. This will lead into unhealthy society along with unhealthy future generation.
I think what people do with their coins is just their business, as long as it is not against the law (that excludes using bitcoins for drugs). But porn or gambling? If somebody has fun with that, let him. I don't judge. And that surely is no misuse of bitcoin. |
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The halving is very important for bitcoin!
It limits the number of bitcoin to 21 millions.
Without halving, an endless number of bitcoins could be produced, and if you have an endless supply of something, the value of that something won't be too big.
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Right now we have transaction fees of about 40 satoshis per byte.
A transaction has an average size of 250 Bytes, as far as I can remember.
If you combine those two numbers you get 10000 satoshis transaction fees.
And if 1 satoshi would equal 1 dollar, that would be 10000dollars transaction fees.
I think I would not pay that.
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I think this is a very good article!
Every body who is new to bitcoin should have to read it for twenty minutes until he is allowed to proceede.
Of course that is not possible, but it would spare many people unfortunate experience with bitcoins.
And without negative experiences, a lot more newbies would become valuable members of the bitcoin community instead of leaving it quickly again.
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At the moment I see no big movement upwards in the near future anymore.
During the last months the price has already went up very far.
Now a lot of people are afraid that a bubble might develope. But since there is no sign the price might go down, they do not sell either.
I suspect the price to stay constant on this level now for a while.
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A chart has patterns, a similar behaviour under similar circumstances.
If you know those patterns, it's often possible to predict the developement of a chart.
Sure, it's never 100% certain, but it's a big advantage compared to traders who do not know those patterns.
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There was a time when I visited faucets a lot, and even had one of those scripts ready to launch.
But I decided finally not to activate it.
The reason was because I saw so many others fail. From What I can remember, their faucets were drained by hackers over and over again.
I would be surprised to hear if a method was found that keeps the hackers out, but still leaves the faucet easy to use for the customers.
So no, I don't think there is profit in faucets at this time.
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And Ethereum is good for something: to remind us the hard fork is something that needs carefully prepared - politically, PR-wise, call it as you wish.
Hard fork is not a good solution, it can split the bitcoin network into two or more just like ETH and ETC.
a hard fork is not the exact same as ethereum.. even soft forks can cause intentional splits. ethereum was an intentional split to save repeating myself in short:
soft=only pools vote
hard=nodes and pools vote.
then there are sub categories of good or bad of each
softfork: consensus - >94% pools no banning/ignoring of minority. result: small 5% orphan drama then one chain. minority unsynced and dead
softfork: controversial - >50% pools no banning/ignoring of minority. result: long big% orphan drama then one chain. minority unsynced and dead
softfork: bilateral split - intentionally ignoring/banning opposing rules and not including them. result: 2 chains
hardfork: consensus - >94% nodes, then >94% pools no banning/ignoring of minority. result: 5% orphan drama then one chain. minority unsynced / dead
hardfork: controversial - >50% nodes, then >50% pools no banning/ignoring of minority. result: big% orphan drama then one chain. minority unsynced / dead
hardfork: bilateral split - intentionally ignoring/banning opposing rules and not including them. result: 2 chains
if you want to talk about the ethereum style of for. that was a hard BILATERAL(intentional) split.
but also remember there is code in bip 9 to allow a soft bilateral(intentional) split too.
yep gmaxwell confirms even in a soft(pool only) event bilateral splits can happen too If there is some reason when the users of Bitcoin would rather have it activate at 90% (e.g. lets just imagine some altcoin publicly raised money to block an important improvement to Bitcoin) then even with the 95% rule the network could choose to activate it at 90% just by orphaning the blocks of the non-supporters until 95%+ of the remaining blocks signaled activation.
and when active. segwit pools will still actively ignore non-segwit pools https://bitcoincore.org/en/2016/10/28/segwit-costs/Miners could simply use software that does not recognise segwit rules (such as earlier versions of Bitcoin Core) to mine blocks on top of a chain that has activated segwit. This would be a hard-fork as far as segwit-aware software is concerned, and those blocks would consequently be ignored by Bitcoin users using segwit-aware validating nodes. If there are sufficiently many users using segwit nodes, such a hard-fork would be no more effective than introducing a new alt coin.
this is them talking about doing bilateral splits in a soft (pool only) flagging event. ethereum was not consensus. it was bilateral. --oppose-dao-fork (forcing nodes to BAN opposing nodes and avoid consensus) I really was not aware of that. So, is there a way to make the fork consensus and avoid a bilateral split? The way I understand it now is, that the outcome of two permanent chains would have to be put into the source code and is not a matter of agreement or disagreement. |
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I think you need a lot of experience to choose a good investment, the most important things is the ability to find a perfect timing to put your money, now is the era where you put money to earn money, but you need to be extra careful not to fall into the scammed investment
Not true this is the era when you work for the money, there is no easy way to make money and trying to find a way to do so will either waste your time ore waste your money because there are a lot of people out there trying to scam people and take their money, so the only way to get money is to work for it. To make a sufficient amount of money from money, you need a really big amount of money to start with. Then it is really possible to make a living from doing olmost nothing. But that start amount is usually earned by work. And most people never get enough to let their money do the work for them. |
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Nobody uses Bitcoin as a currency to buy stuff, everybody is holding and in for a profit,
Speak for yourself. And I seriously doubt that you have ever even invested in bitcoin or get anything apart from your signature spam payment. I agree. I use bitcoin quite a lot. So the transaction speed is important. I am the living proof that there are people out there who actually buy things with bitcoins. And it is really necessary to keep bitcoin used as a way of payment. All that infrastructure that has been built the last years would vanish if nobody uses it. That would decrease the demand for bitcoin, because I do not think that pure buying for holding can compensate it. A decreased demand means a lower price. |
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Let the Bubble commense Nooooo.. please no bubble building!!!! Bubbles tend to implode. I don't like things that have the capability of doing so. I like my stuff to be permanent, reliable. Most of the people do that. Of course I have nothing against an increasing bitcoin price. But a slow and steady one. |
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I almost exclusively use bitcoins as a store of value so I definitely treat it more like a stock. There are a ton of people that don't on this forum though. It's the same with fiat, some people are savers and some are spenders.
Good for you, but it is not the same as with fiat, since central banks can print their national currency that means there is inflation so every single second your saved fiat losses some of its value, this is the opposite that happens with bitcoin, because bitcoin is a deflationary currency which earns a small value every second. Yes, holding fiat means decreasing its value, while holding bitcoin mean increasing its value. We can see that what our local fiat value was in past and how much it is now changed, but if we compare the value of bitcoin so in 2009, bitcoin value was negligible but now its value is more that 1150 USD per bitcoin. But you always have to keep in mind that bitcoin price can swing both ways. Just remember 2013. Of course fiat has a decrease in buying power, but it's a very slow one. Bitcoin can lose it's value in the blink of an eye if the circumstances are unfortunate. |
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