No, selling everything would just not be smart, if you consider this with all kind of events that are upcoming this year.
The halving that is coming will let the price rise so you will lose profit when you are selling your bitcoins plus the bitcoin is getting bigger these days so that is also a reason to not sell the bitcoin at all.
Of course selling everything is not a good decision but the halving will comes after some years. So this reason would not play any role for every one wants to buy/sell or holds its coins. The best strategy, imo when there are pumps or dumps is wait and see not panic and small steps. |
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If the situation in India continues with the same rate in first quarter of 2017 the rally will goes on. It is difficult to predict the price because for many people 1000$ is the psychological barrier and most of them may start to sell in order to gain short term profits if they had bought big amounts some days ago when price was about $800.
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The supply of bitcoin is just too great for it to rise to such a high level, and it probably wouldn't happen as there will almost certainly be a coin that supersedes Bitcoin and has some kind of better encryption.
SHA256 will only be secure for a few more decades, so unless major work is done on the platform by then bitcoin may fall behind other coins.
This is someone who understands a little bit more about the incredible number of assumptions that are in place for a 1 milliom dollar bitcoin value! Although to be fair, efforts to improve the platform and advance it technologically can only work to further boost the value of btc. Yes, the above two comments seem the most realistic. There are too many variables (re the future) that we cannot know, including many variables that we cannot predict (similar to those trying to predict Black Swan events). While my guess is that BTC will do great in the medium-term (say 3 - 5 years, maybe reach $10,000 or even $25,000), I would be reluctant to predict much further out than that. There is always the possibility of a better coin, even with Bitcoin's first mover advantage. $1,000,000 per BTC, would that value be in hyper-inflated dollars? I don't think the bitcoin can't reach 1000000$ in value  . I think the next step for the bitcoin to continue to raise, more place will accept bitcoin, new services will emerge from the bitcoin entrepreneurs, easy to use for the average joe. The price pumps lately because of the demonetization in India, the devaluation of yuan in China, the hyperinflation in Venezuela. Even though I want a very high price of bitcoin I can understand that this an utopia. I definitely agree with chesatochi that there are reasons about the rapidly increasing price of bitcoin. Many people in the forum they see bitcoin as a god. This is not strange. Many gold miners in the past had the same dream too. Now, we see gold, silver, palladium and other precious metals as an asset for trading. But bitcoin has value for all the unique characteristics compared to fiat money. So we must grab the opportunity to buy our favorite things cheaper than we had to buy it some months ago. |
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I started recently to use electrum as a more secure wallet from my web wallet (I use blockchain.info). I use the portable version even though there is a warning in the sub-forum but I believe there is no difference with installed one. I have a couple of questions where I didn't find an answer neither in documentations page nor searching the forum or the net.
1. Tools--> Preferences --> Transactions (Use Multiple Change Addresses check box) what means? I already have checked the above that is Use Change Addresses and looking in tab Addresses I can see Receiving and clicking left arrow besides Change there are six addresses. So what is the difference between them?
2. Tools--> Preferences --> Transactions --> Coin Selection: (Privacy and Priority). What is the difference using first or second one.
If someone has the same confusion with me and has found the solution maybe wants to drop a line or post a link.
You can just hover your mouse pointer over the change addresses option or click the coin selection and it'll give you very good explanations on what those options are. Thank you very much Jhanzo. It was so easy but I was not patient enough to understand it. Really helpful. I lock topic and I hope that would be useful for someone else like was for me. |
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I started recently to use electrum as a more secure wallet from my web wallet (I use blockchain.info). I use the portable version even though there is a warning in the sub-forum but I believe there is no difference with installed one. I have a couple of questions where I didn't find an answer neither in documentations page nor searching the forum or the net.
1. Tools--> Preferences --> Transactions (Use Multiple Change Addresses check box) what means? I already have checked the above that is Use Change Addresses and looking in tab Addresses I can see Receiving and clicking left arrow besides Change there are six addresses. So what is the difference between them?
2. Tools--> Preferences --> Transactions --> Coin Selection: (Privacy and Priority). What is the difference using first or second one.
If someone has the same confusion with me and has found the solution maybe wants to drop a line or post a link.
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I think it is not burned, i think it was lost by users stupidity. But also how come people can send btc to a specified burn address. When in fact that address is already burned, the address is still active but not accessible? I'm a bit confused on what is really burned addresses. BTCBurn website got some concrete evidence that the address is really burned?
Some lost from users but there is the expression Proof of Burn that is an alternate consensus of Proof of Work and Proof of Stake. More details has the following wiki https://en.bitcoin.it/wiki/Proof_of_burn. Even more there is an archived post in reddit with a list of these addresses https://www.reddit.com/r/Buttcoin/comments/3kqdjv/a_list_of_bitcoin_addresses_used_to_intentionally/. Someone above told that people intentionally had burned their coins when exchange rate to fiat was low but I have neither read nor listen anything about it yet. |
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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.
Bitcoin is an electronic payment system and of course is the best among other methods when someone buys/sells goods and services using internet. Bitcoin made for people and people are responsible for their actions and not the payment system. I don't know from which country OP comes from but in my country Tide is a well-known detergent. Follow the link http://www.theatlantic.com/business/archive/2012/03/why-are-criminals-stealing-tide-detergent-and-using-it-for-money/254631/. So would you believe tide soap made for criminals? |
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I am using these two wallets currently. Electrum has the same feature too. Using Send tab under Amount there is Fee with slider. Sender can choose between next, two, five, ten and twenty-five blocks. There is a label too where there are the transaction fees according the sender choice. I believe that is more convenient than blockchain.info wallet
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I know It was first impossible to sign messages using this new HD wallet and that's why I stopped using their wallet In the first place but while checking their support last time , they said that It should be available soon so Is it possible to sign messages at this point or still not ?
I do know and understand that It's possible to export the private keys with a non-friendly method but I don't want to use it.
Where did you read this feature will be available soon? I can't find anything about it. Till today I checked I could not sign any message. This issue as long as the same which I cannot export the private keys, even though I know the way you mention above, are the reasons I am thinking to change web wallet. |
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I am currently using coinbase.com as a bitcoin wallet for myself and i find it a little bit inconvenient because Coinbase's system try to prevent people from gambling. They can block our account if we gamble too much. If i had a chance to redesign coinbase, i would remove this function forever
I don't know why coinbase follows this kind of policy. Recently I read a very good article where coinbase tracking user funds if they spend their coins in gambling and adult sites even though they reselling in other exchanges and may be bans them. There are many user complaints; some of them you can take a look here https://99bitcoins.com/coinbase-review-6-controversial-issues/ |
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I doubt that using bitcoin the Chinese can destroy the US economy for the following reasons:
The largest reserves of oil worldwide possess Saudi Arabia and Venezuela. The first country has friendly relations with USA and second one there is no way to escape from American's influence. The third country is Canada.
Secondly, the American's military presence is global. China is trying but so far has not succeed more than its borders.
Finally, China has many factories but the expertise derived from?
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In my opinion there are two ways for a successful bitcoin entrepreneur. First one is if you have a skill which is useful to other people of the forum or if you sell some items, especially handmade, others they want to buy. Second is trading bitcoin and altcoins if you are well informative, risky and not easily panic.
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i don't think bitcoin is the best future currency,i think in the future bitcoin will disappear
I will not agree with your opinion especially when there not are any proofs about that. We don't know the future of bitcoin but is the leader of cryptocurrencies. As anything new has not only pros but cons too. For this reason I believe in the future will have more than one cryptourrencies and people will have to use among them according their needs. Also I believe that after the restriction of banknotes worldwide, future of currencies will be cashless but banks will not stay away waiting to die. So bitcoin will be a currency in the future but I do not know if will be the best. |
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I remember several years ago similar poll was made and i was surprised most of the users answered NO.
In case your answer is still NO, I'd like to know what is your main reason not to own one bitcoin?
Happy holidays!
edit: grammar
The reasons are simple. At first, I discovered lately the bitcoin world. I knew what bitcoin is but I had no involvement with it. So when I bought the exchange rate was high enough. Secondly, first bitcoins I bought were used to buy some things from an online shop. So, today my balance is no more 0.5 Btc. EDIT: Grammar |
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Any store, company etc accepts bitcoin is good to increase its adoption of masses. Starbucks is a good example because drinking coffee is an everyday habit. People must tend to use buy their coffee with bitcoins. Any every day micro-payment transaction is better than a big one only once. People must use the coin very often. In this way stores will be forced to accept. Bitcoin is not only for hoarding but mainly is an electronically payment system.
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anyone can give out your opinion about bitcoin in 2017 please
will growing trend keep continue in 2017 ?
do you think it good oppotunies for more shop accepted bitcoin ( paypal, amazon ?)
which country market will be the central for bitcoin in 2017 ( india , china ? )
Amazon or paypal or any other internet giant will never accept bitcoin. China will remain the country with the most bitcoin miners. 2017 will be more like 2016 ,if you ask me. I don't agree; Amazon is a giant but if seen that its sales go to the bottom what will do; Amazon will be forced to adapt in the new era i.e change its policy. Paypal is different from amazon and probably will continue fighting the bitcoin and supporting cards and wire transfer money. China now has the most miners but do not underestimate the Indian people; They recently lost their confidence in cash. What will prevent them to begin the mining? The price of bitcoin probably will continue its upward trend but where it stops? If anyone is a risky investor can try its luck. |
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The way I see that is only if some one has a good portfolio would earn these money. He must to diversify it so as to include stocks, bonds and cash (including bitcoin). Then, according the risk he is willing to undertake the asset allocation could be includes 70% in stocks, 20% in bonds, and 10% in cash. Other techniques like martingale do not ensure you a steady income
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For anyone wants to spend sometime for fun without to realize how the time passed gambling is ok. Especially gambling with cards and not only casino games. After that people must be careful because addiction in gambling happens very often and is difficult to face with.
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Personally, I think that banks will not disappear at least in the near future. What I believe is in a few years banknotes will disappear and people will transact to a cashless world. India ban notes 500 and 1000 Rs Europe discontinue to print 500 euros and Australia thinks to abolish 100 AUD. So people will mainly use cards and digital currencies. Banks will be forced under the bitcoin pressure to adapt new demanding and unstable environment. Distant future will show the winner.
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I am an italian student of economics and finance. I have an updated full node. I would like to obtain statistic data from the blockchain.
My intent is to be able to answer all possible questions (for example average number of transaction per second, btc spent per second, transaction fees per kb etc) without using a website like statoshi.info.
Are there any R (or eventually python) packages useful to access blockchain data to run a statistical analysis?
thank you in advance
I believe that you already have searched in https://cran.r-project.org/web/packages/ but you did not find anything. I know that there are python packages available where you can use it for statistics and one of them is called scipy but this package have specialization in probability distributions. If you need only basic statistics there is embedded in python language https://docs.python.org/3/library/statistics.html. Moreover a free pdf book for econometrics with python is https://www.kevinsheppard.com/images/0/09/Python_introduction.pdf. |
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