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7281  Economy / Economics / Re: Bitcoin and Avocados: Correlated Assets? on: October 11, 2019, 03:34:08 PM
Just an amazing coincidence, for sure. The avocado hype has something to do with the fruit being used in a lot of cosmetic materials currently and of course, the unique taste of the fruit when combined with a lot of dishes. For sure avocado has its own merits, so does bitcoin too. It's pretty plain to see that they're entirely different commodities that serve/satisfy a different demographic, so yeah, as much as we want to believe that these two are entirely correlated, unfortunately we can't.

Kidding aside though, we might face further decline in prices should the $8k support levels won't hold. That's something, and perhaps the avocado price movement could predict that in a way.
7282  Economy / Economics / Re: China cracking down on bitcoin again on: October 11, 2019, 02:26:41 PM

Binance made a mistake tweeting in public that they were accepting Alipay purchases from Chinese users.

What they should have done was email the users and they'd have got the information in private. Big fail on Binance's part.


It's only a matter of time before the Chinese government finds out about this move, anyway, so even if they publicly announce it or not, it is bound to be shut down. Also, knowing the control of the Chinese government in every aspect of their community is strong, and knowing that Jack Ma is a closely-related entity to the Communist Party, the dude can just forward the information directly to the higher-ups even if he's not the chairman of the group anymore. The developments in HK also adds up to the reason as well, though again we just know that China does not want its citizens to deviate from CNY any time soon as part of their plan to make it the number one currency and overthrow the USD.
7283  Local / Pilipinas / Re: [MALWARE] Crypto Stealing Malware Clipsa Targeted Computers in the Philippines on: October 11, 2019, 01:53:27 PM
well mas safe pa din pala gumamit ng Mobile?kung ganitong pati ang pag gamit ng 'Control' key ay nagiging ugat para magkaron ng malware attack?

siguro mag stay nalang ako sa oldschool na pag sesend at ang pag copy paste ay walang madaming command kundi ung natural lang

Any system is susceptible to session hijacks, lalo na yung mga old-school machines na hindi na naaupdate ang libraries at wala nang support for security. The only way to prevent hacks na lang is to never, ever use third-party computers when opening important accounts and of course, wag magvisit ng mga kahina-hinalang site. Be it automated or manual, kapag may nakitang exploit ang mga hackers sa machine na ginagamit mo, talagang gagamitin nila yun para makuha nila yung gusto nila, and in this case bitcoins nga.
7284  Bitcoin / Legal / Re: Is it possible to create a funding company on: October 11, 2019, 01:23:27 PM
Possible to create a lending/funding firm specializing in crypto, seeing that e-Residency of Estonia freely allows people from anywhere in the world to establish their own digital business within their jurisdiction. It's better to consult them directly and read the terms and conditions instead of asking the forum for such information. More likely that you'll get approved since the Estonian government seem to be friendly with the thought of foreigners establishing their businesses within the said country.
7285  Bitcoin / Bitcoin Discussion / Re: Tobacco shops - the way to Bitcoin adoption on: October 11, 2019, 12:57:46 PM
Tobacco shops seem like small transaction amounts though, you'd really have to pay for quite a lot of cigarettes or nice cigars for the transaction to really be viable.

It's still a multi-billion dollar industry though, and most prime tobaccos cost more than hundred USD, and could go way more depending on the name and the quality of the tobacco. While this may not be a viable market to start adoption, it still is huge enough to gain some sort of traction to help kickstart things. I just don't expect that this will get huge immediately but hey, at least it's something!

Now to top it all off, I wonder if coffee shops would start to do the same? Coffees and cigarettes work well together (in relieving anxiety and stress, and also giving you cancer).
7286  Bitcoin / Bitcoin Discussion / Re: Bitcoin coins are losing popularity? on: October 11, 2019, 12:20:20 PM
Popularity wanes over time when not a single exciting thing is happening within the ecosystem. Usually, bitcoin’s popularity soars whenever there’s substantial increase in pricing. At this point all eyes and ears, including the common folk and mainstream media would be pointed towards bitcoin. I understand your sentiment regarding bitcoin’s popularity hitting a plateau, but if you know the cyclical movement of bitcoin (which is still somewhat theoretical), you know that it’ll rise when the price starts rising.
7287  Other / Beginners & Help / Re: Is it possible for a token creator to take back the tokens sent to someone on: October 10, 2019, 06:25:50 PM
It is possible depending on the conditions laid out by the developers in the event of something uneventful (like the ETH events that saw the creation of ETH Classic)--or simply put, if the algorithm of the whole token/coin allows such rollbacks to happen without that much of an effort, else the developers would need the cooperation of the community to do the rollback. This usually leads to a hardfork when the whole network can't reach into a consensus, and again this depends on the consensus rules of the coin/token. In bitcoin, you need at least 51% to undo a certain transaction and split the chain whereas on other tokens/coins I'm not entirely sure of.
7288  Bitcoin / Bitcoin Discussion / Re: Did you arrange a meet up or make a gathering with local bitcoin community? on: October 10, 2019, 05:32:25 PM
I went to several meetups on Canada and here in the Philippines, but never have I even tried to organize one or be a part of the organizing team. Surprisingly though, there are a lot more attendees to Philippine-based bitcoin meetups compared to Canadian meetups, which is unusual since we all know that the Canadians have more access to lots of exchanges and services open to cryptocurrencies while the Philippines is still on its infancy regarding cryptocurrencies in general. Either way, a lot are still unaware of what bitcoin really is and what it offers, and it's normal considering the learning curve is still high and that there aren't really that much of exposure when it comes to crypto in both countries.
7289  Bitcoin / Bitcoin Discussion / Re: Dictaorships & how cryptocurrencies can bypass their control on: October 10, 2019, 04:54:33 PM
A good benefit of crypto over state-owned and regulated currencies. One does not simply halt the use of a decentralized currency no matter how strong or powerful he/she is in a country/state. Even if the dictator is to impose exclusivity in what currency to use, no one can really know if a citizen disobeys the rules and goes in to use other currencies other than the one that is advertised by the government, which is pretty good in order to preserve one's wealth. There's beauty in disobedience, in a way that it helps the little folks, and luckily, cryptocurrency aids us in this case.
7290  Bitcoin / Bitcoin Discussion / Re: The uses for Cryptocurrency in places where fiat currency cannot be used on: October 10, 2019, 03:34:58 PM
I dont think theres anything a cryptocurrency can do that fiat cant do. Of course, removing the decentralized system of transaction of crypto, anything it can do is basically what fiat could also do. And besides, due to the limited adoption of crypto around the globe, crypto itself is limited and could not perform as well as fiat as a type of currency used. All because of the lack of adoption of it.

There is actually one thing I can think of that cryptocurrencies does perfectly well (at times) that fiat can't in its 50 years of existence: hold actual value. Sure, crypto can be one hell of a roller coaster ride, but despite all the crashes and burns it takes, it still is a good store of value over time, just look at bitcoin for example. Side by side with gold and fiat, only bitcoin and gold managed to get a hold of value for the past 10 years, meanwhile fiat continues on a downhill slope no matter how good the global economy performs.




Considering that their currency is basically unusable, Zimbabwe has adopted cryptocurrencies as a means of trade especially after their banks wouldn’t allow them to make transactions using foreign currency. So far the use of cryptocurrencies there is rising and it probably won’t stop until they fix their economy. This shows that cryptocurrencies can help countries that have problems with their currency.

I'd love to read some article stating this honestly. Zimbabwe may have been in a rather unstable state due to the massive devaluation of their currency, but there's little to almost no usage of cryptocurrencies in the country considering how poor the people in there are, plus the fact that most services and stores are still alienated by the concept of cryptocurrencies.
7291  Economy / Invites & Accounts / Re: Cloudbet 53 hour withdrawl on: October 10, 2019, 02:25:16 PM
Never had any problems in withdrawals from Cloudbet myself. I can attest that they sometimes do manual withdrawals and confirmations on requests higher than 0.1BTC and I think other gambling platforms do too, although in a much higher threshold. A simple bump to your request may have done it, or they might have undergone emergency maintenance through which your withdrawals might be stuck into. Or it could be that their hot wallet ran out of funds that's why they can't get you your withdrawals on a timely manner. Either way, just send them an email and outline your situation.

Firstly, I don't understand the voting options in the poll(K & K) which seem odd and I don't think anyone will vote in the poll unless you edit them asap. Secondly, was the bet live or pre-match?(Have had issues only with live bets previously in this site which is why I am asking).

A lot of users of Cloudbet also complained about their poor live bet systems. If OP placed a bet on one of those events, then he/she will be added to the statistics of people having a hard time getting their wins on a live bet on the said platform.
7292  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: John McAfee Announced Bug Bounty Program on: October 10, 2019, 01:53:46 PM
John McAfee has earlier launched McAfeeDEX, a decentralized exchange. McAfeeDEX further announced the Bug Bounty Program on Oct 9, 2019.

https://coinpedia.org/cryptocurrency-bulletin/mcafeedex-bug-bounty-program/

I saw it on his twitter:



Source: https://twitter.com/officialmcafee/status/1181550249783054338

this will not end well for him and this exchange, I hope at least he will try to dig deeper into the consequences of his actions and make sure that people don't get hurt because of him

A strong statement from McAfee's part, although we know that one way or the other he would eventually give in to the demands of the SEC or he would have to move countries in order to further his interest and of course his service as a decentralize exchange. He would be a subject of the authority for the next few months before they get him and apprehend him for his violations, but then again, we know that McAfee is not really a man of his words and would likely be implementing KYC and AML regulations in his so-called decentralized exchange.
7293  Bitcoin / Bitcoin Discussion / Re: Unicef now accepting donations through bitcoin and ether on: October 10, 2019, 01:19:42 PM
It's about time that big non-profit organizations and humanitarian causes accept bitcoin and other cryptocurrencies for fast acceptance of funds and of course, to avoid loads of checks before one could even donate to them. I just hope that partner entities of UNICEF, especially the services and stores that they get their goods from do accept cryptocurrencies too for fast liquidation of the funds and turning it into the necessities needed by those they are helping. It might be far-fetched but we're getting there, slowly.
7294  Economy / Gambling discussion / Re: Gambling risk is higher when we are on Bear Market? on: October 10, 2019, 12:37:44 PM
I treat 1 BTC as 1 BTC no matter the valuation is in USD, and IMO if John had no sense of that value in his mind, he’s a blithering idiot on my perspective. We always know that bitcoin tends to come back after a rough market run, and those who lose money are mostly those who are impatient and wants instant gains. I would have gambled a small sum and forget about the rest of the bitcoins that I have so in case if the market blows up again, I at least have something to recover and just lose some thousand dollars.
7295  Local / Pamilihan / Re: Cryptocurrencies at Financial Planning on: October 10, 2019, 11:23:10 AM
I’m a healthy individual and knowing na I hop from one country to another due to my job, I still got hold of insurance here in the Philippines just in case. Matagal tagal pa ang susunod na 5 years na pamamalagi ko rito bago ako magrelocate ulit at hindi naman sa lahat ng oras ay may pera akong makukuha kahit pa maganda naman ang trabaho ko na. Insurance is applicable hindi lang sa mga sasakyan at precious items. Kung nag-iinvest ang isang tao sa materyal na bagay at hindi naglalaan para sa sarili niya, in the long run eh talo siya sakaling may mangyaring hindi kaaya aya at hindi maganda sa kanya.
7296  Economy / Economics / Re: Bitcoin adoption rising in NGO sector: Report on: October 10, 2019, 10:59:51 AM
Crypto has been used bu NGOs for the longest of time. I remember in the Dogecoin community back in 2015, we have this Doge4Water campaign which helped deiiver potable and clean water in different parts of the Philippines and Africa. It was a good cause and I think it’s still continuing up until today, although in a different name and a wider scope of aid. I just hope though that services would coordinate with these NGOs and make their lives easier by accepting crypto payments. In that way there’d be actual use for crypto and also some much needed education regarding bitcoin and cryptocurrencies.
7297  Bitcoin / Bitcoin Discussion / Re: So what will happen to Bitcoin? on: October 10, 2019, 10:16:13 AM
An entity reaching ‘quantum supremacy’ in today’s technology and hardware means nothing, given that most of our cryptographic algorithms are still quite bulletproof and, in a way, quantum-resistant. Now, I’m not saying that bitcoin is not prone to such attacks in the future, only that it’s too early to come into conclusions and make bold claims. With lots of brillint and active developers still working on improving bitcoin, I don’t think we’re in danger. Bitcoin is still as robust as it can be, and will remain as is in the coming years—or even a decade.
7298  Bitcoin / Bitcoin Discussion / Re: Schnorr + Taproot Soft Fork and What this Means to Bitcoin on: October 10, 2019, 09:09:35 AM
As I've read awhile ago concerning ECDSA and Schnorr algorithm, they went for ECDSA in generating cryptographic signatures simply because it's much more common in a lot of crypto libraries. Schnorr has its own merits, that's why a lot of developers are actually supporting and pushing it over ECDSA. Let me cite a few lines from Pieter Wuille's draft in Schnorr algorithm:

Quote
Bitcoin has traditionally used ECDSA signatures over the secp256k1 curve for authenticating transactions. These are standardized, but have a number of downsides compared to Schnorr signatures over the same curve:
  • Security proof: The security of Schnorr signatures is easily provable in the random oracle model assuming the elliptic curve discrete logarithm problem (ECDLP) is hard. Such a proof does not exist for ECDSA.
  • Non-malleability: ECDSA signatures are inherently malleable; a third party without access to the secret key can alter an existing valid signature for a given public key and message into another signature that is valid for the same key and message. This issue is discussed in BIP62 and BIP66. On the other hand, Schnorr signatures are provably non-malleable.
  • Linearity: Schnorr signatures have the remarkable property that multiple parties can collaborate to produce a signature that is valid for the sum of their public keys. This is the building block for various higher-level constructions that improve efficiency and privacy, such as multisignatures and others.

Figures and technicalities speak for themselves. The only apparent problem with Schnorr algorithm is that not all crypto libraries have it, or it's not standardized yet.
7299  Bitcoin / Bitcoin Discussion / Re: Bitcoin Nodes in Space? on: October 10, 2019, 08:27:02 AM
That's a good thought, although like what was mentioned already, the Blockstream satellite is already operational. Also, one does not simply send out a satellite into space without having a special permission as it might interfere with aviation in general, and could be dangerous if left unattended. For deeper launches, it will require tons of money, careful planning and again, coordination with aviation authorities as this might hinder explorations and missions on space. Fascinating as it may all seem but it's tedious to the one who's gonna launch a satellite up there which will serve as a node.
7300  Bitcoin / Bitcoin Discussion / Re: Bitcoin holding will be worth this year or in the long run? on: October 10, 2019, 07:28:44 AM
I'd say one should take advantage of the current market conditions right now before the hype for the halving begins early on in 2020. Usually, pre-halving events are not really that good and is characterized by poor performance of bitcoin and other cryptocurrencies. Short-term, no substantial gains can be seen but in the long run it's definitely rewarding and will be worth the wait. One can still try to short the hell out of bitcoins while its performance is lackluster but we all know where that leads most of the time.
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