Why would people willingly devalue their wealth by adding more coins to the max supply that are defined by the Bitcoin protocol? One of the strongest pillars of this technology is the simulation of scarcity with a fixed limited supply of coins. I think once you mess with the total coin supply, investors will stop buying more coins. <It is all about the perception of scarcity and knowing what the total supply of coins will be in the future>
This is also something that are lacking in other commodities like Gold and Silver. <They do not know when a new massive deposit will be discovered>
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I think the general rule of thumb is this : If you do not follow like a sheep, you get labelled as an outsider, weirdo, rebel, extremist and whatever negative connotation they can think of at the time. Let's not forget that early users of the internet were labelled as porn addicts and pedophiles and money launderers, so the same thing is happening with Bitcoin users now. My message to all of you are not to be swayed by the ignorance of the sheep and to ignore the labels that are placed by stupid people.
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People decide what "money" is, not Banks. We have seen several examples of that in 3rd world countries : In Zimbabwe, people preferred to receive candy for change, instead of the 1000's of worthless paper that was printed by their corrupt government. In Venezuela, people are turning to Bitcoin to protect the value of their wealth, because hyperinflation and fiat currencies are failing them in their country at the moment. Banks forget their place in the whole scheme of things. Bitcoin will become the people's money.
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The latest attack by one crazy individual and some money that was invested in the Ponzi scheme, Bitconnect, now automatically ties many people in the Crypto currency community to Right wing extremists. <If you believe all the crap that are posted on the Internet now> The book, The Politics of Bitcoin: Software as Right-Wing Extremism by the author David Golumbia are one of these examples that are frequently quoted. Bitcoin’s early origin in right-libertarian Anarcho-capitalism is also used as a tool to blemish it's reputation. A lot of other people have since then, started to use Bitcoin and most of them do not even support these political groups. How many people in your circle of friends and family are into Right-Wing Extremism? <I know 1000s of people who has no political connection to these extremist groups> Let's not label a whole group of people, if a small minority of them use the technology for their extremist agendas. <The shooter used cash and credit cards too, so we should automatically label all cash and credit card users as Right-Wing Extremism too?>
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I'll leave wetsuit to decide if he wants to dox himself or not. For the purposes of this competition, the prize is a US market Lambo with the option to take Bitcoin of the value of the US list price instead.
I reckon he won't but that was some interesting question. Well, he does not necessarily have to dox himself by doing this. The Lambo can be bought in another country and shipped directly to the Winner. He can even offer to buy with Bitcoin via a payment processor if they do not want to accept Bitcoin payments and this can be done by using some intermediary. Sounds like a lot of trouble, I would rather just give the winner the amount of money that would be the equivalent to the value of the price of a new Lambo and pay him or her with bitcoins.
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I think once the Lightning Network goes mainstream, more applications and use cases will be built around micro payments and micro tasks and this will trigger mass adoption of Bitcoin. We will see pay-per-minute services and also micro payments that are too expensive with traditional services that will be possible with the Bitcoin Lightning Network. Gaming linked directly to the Lightning Network, will be one of the best applications for this technology. <None of these worthless counter party tokens and Shitcoins that are linked to games now.>
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Europe Starts War Against Illegal Activities Using Crypto ---> What a joke. Only 4% of all money laundering are done with Crypto currencies and they want to start a war against illegal activities that are done with Crypto currencies? Where are the War on illegal activities that are done with the remaining 96% of payment methods? I hate it when something bad happens and they want to blame everything on Crypto currencies. <Example : https://www.ccn.com/christchurch-terrorist-invested-and-profited-from-crypto-scam-bitconnect > Bitconnect was a Ponzi scheme!!!
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Coinbase was introduced at a time when some Bitcoiners wanted a legitimate company with KYC/AML regulations to protect their Bitcoin investment. In the early days, most Bitcoiners was very focussed on anonymity and sticking it to the "Man"... but as time goes by, a lot of new Bitcoiners entered the scene and they wanted to "legitimize" the scene. <They wanted a company with a good reputation and one that would be more secure than the dodgy sites at the time> Coinbase quickly grew into a huge company and it got a good track record for security. <MtGox and other exchanges that got hacked, was a huge blow for most people who wanted to get into Bitcoin at the time.>
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We DO NOT need centralized Banks to secure our bitcoins, but we need more Bitcoin friendly banks to convert our bitcoins to Fiat currencies and visa versa, when we want to do that. The Banking system are trying their best to sabotage Crypto currency clients, by closing their Bank accounts, when they figure out that clients use their Bank accounts for Crypto currency conversion. We need some Banks to go against this global trend and to help those clients that got burnt by their local Banks.
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Just remember one thing, if you sell your bitcoins for fiat, it gives you a fiat balance on the local exchange database and it is not fiat until you withdraw it to your Bank account. We always warn people not to store large amounts of bitcoins on exchanges, but we forget that they also hold large fiat balances on these exchanges. Some more experienced traders use bots to trade for them, to reduce the possibility that they would loose money on their Crypto trading.
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i am not sure about the more bitcoin being distributed out of the whale's pockets into the pockets of other regular "fish" in the market but i know this, whales also run out of money at some point and then they can no longer accumulate bitcoin. also i know that many of them are also altcoin traders who are currently pumping shitcoins with low market cap which you can find if you look at the bottoms of the lists on CMC. which is another sign that they are getting ready for the rocket launch.
I also noticed that, but people are so focussed on Bitcoin that they forget about the smaller Alt coins. It is much easier to pump a low priced shitcoin and get profit to buy more bitcoins these days, because a sucker is born every day. Thank you for your post, it puts a new spin on this debate. We should also monitor the Shitcoin pumping for indicators on where the Whales are moving with their push.
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Can you provide anything that proves that bitcoin is manipulated by some mysterious whales now? It is pretty obvious that markets with low market cap are pretty sensitive to large deals but for the last time those fluctuations seem pretty normal for crypto. If during a month BTC price change +- 300$ then I don't see any reason to blame some unknown whales and say that market is manipulated.
Calm down, it's just an opinion or conclusion formed on the basis of incomplete information. The so-called Whale manipulation is pure conjecture and a popular conspiracy theory. I still believe that whales are active in the Bitcoin scene, like cartels are busy in the Gold and commodity markets. Based on the latest price behaviour, it is just logical to think that "manipulators" of the price, has been declining and more mainstream adoption might have had a influence in that. In the early days of Bitcoin, these so-called whales had loads of coins to manipulate the price, but this is not the case anymore. Their resources are declining over time.
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Is Chartbet multiplayer being wiped off the table for now? I thought it was in development prior to the launch of Stake version 2? I was looking forward to a interactive game like this, but I see it is not on the new site. The individual games are nice, but we need something that stimulates player vs player to give us the edge against other similar sites, because most sites offer the same choice of games now.
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Ok, this is only my own observation, but I think it might be very accurate if you are looking at the more recent Bitcoin price trends. We all know that Bitcoin whales are still manipulating the Bitcoin price. <Yes, it might not be a huge influence, but it is still happening> I think a lot of these Bitcoin whales might be losing momentum now, because we only see the price going slightly above $4000 and then they take profits and the price goes down below $4000 again. <They are playing around within a $400 to $500 price range for their profits now> We also know that Bitcoin whales will decline over time as more coins are distributed from them and hoarded by more users. This process are slowly gaining momentum. <The $400 to $500 price increase is simply not enough incentive to tempt hoarders to start selling their coins again.> Do you see this same pattern or am I imagining this?
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We should welcome initiatives like this, with a lot of Banks that are turning their backs on Crypto currencies and clients linking their bank accounts to Crypto currency exchanges. The Banks that are grabbing this market segment, will do very well in the long run, because people will close their accounts with Banks that are alienating them and they will move to Banks that are supporting Crypto currencies. Let's hope the KYC requirements will not be a "negative" aspect for the people who wants to legitimize their Crypto currency activities.
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You just need to show the flow of the capital inside this project. The ultimate proof and transparency within projects like this, is when you can show proof that new investors money are not channelled to pay older users, which normally happens in traditional Ponzi schemes.
The origin of the payments has to be linked to a legitimate income source that are funding the subsequent payments. What will generate the income for the investors?
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The media are looking for a scapegoat or something to blame for this senseless killings. He did not buy guns on the Black market with Crypto currencies, he used Fiat/Credit cards to purchase these guns, but nothing is being said about that, because they cannot blame the government for printing money and it is not sensational enough, if it was fiat cash or a credit card. The media like to sensationalize events and will change the information to suit their agenda and the agenda of the masters that are pulling the strings. The fact is, the government did not prevent this, but rather caused this by allowing the public to buy automatic rifles and also not reacting on intelligence that extremist like this was in possession of weapons and ammunition that can cause mass killings like this.
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BTC Dominance statistics are useless and no indication of it's position against other Alt coins. Currently https://coinmarketcap.com/ shows BTC Dominance at 50.8% The Total Market Cap = $139 518 645 935 and Bitcoin is currently at $70 913 330 285 with it's closest competition, Ethereum at $14 683 840 325. <Even the Market Cap statistics are crap, because it is not a true reflection of the situation> Bitcoin BTC is still on the top, and this is good for all other Alt coins. <If the strongest crypto currency fails, then the rest will follow.>
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"The Blockchain" idea has grown exponentially, because it is hyped up in the media and the financial industry has something to develop now. There has been little development and creativity in the financial industry for many years and Bitcoin stimulated this industry with the introduction of the Blockchain. Bitcoin the token has been "tainted" by the corrupt media, because the financial industry behind them want to develop their own private token and the Bitcoin token will be their biggest competition.
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I think the Lambo is just a "carrot" and more of a symbolic advertisement of some smaller prize that can be won with a new feature that will be added to the site. The 2016 Lamborghini Huracan LP580-2 is technically the cheapest Lamborghini on the market and it's selling for around $199,805.
It isn't symbolic of a smaller prize it really is going to be a Lambo. You're spot on with the value of that prize. Freebitco.in will have to ship this prize globally, if someone wins this prize in another country and that will add some more cost to the total price. I have to say that it will be kickass advertising for the site, if this was a real Lamborghini. not only the cost, but overseas winner would have to deal with a lot of paperwork to import it so... I'm pretty sure they will also offer it in bitcoin value to the winner You're correct. We'll offer the option of the Bitcoin equivalent of the US list price so you can buy one locally or even buy a Tesla if that is what turns you on. Lambo is copyright though so its just the shape not specific. Can they really use an exact image of a Lambo in their advertising without permission. I dont think the idea of a Tesla is excluded
All the images we are using are free of copyright and giving away a Lambo does not infringe on their copyright either. Damn, my man... this is going to crash your servers, when all the old faucet users flood back to Freebitco.in to win that Lambo. So, I reckon the Golden ticket will be worth $200 000 and people will most probably opt out to take the cash. There are simply too many fees and import duties to pay with a actual Lambo, so it is a good option to give people the choice between the car or the cash equivalent. If this is given in Bitcoin, people can have the choice to pay capital gains taxes on smaller amounts when they cash out to Fiat over more than one year. <Also, the Bitcoin prize might go up, but a car prize might go down>
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