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8221  Alternate cryptocurrencies / Altcoin Discussion / Re: Bitcoin will be replace by ALTS in the future? on: November 10, 2018, 06:40:13 AM
I never for one moment thought that Bitcoin will always be the most dominant coin on the market, but it will surely not be dethroned by the Alt coins that are there at the moment. The coin will have to be faster, more efficient, more secure than Bitcoin and that is not going to happen soon.

The Bitcoin developers are not sitting back and waiting for another coin to dethrone it, they are constantly adding new changes, like side-chains <Lightning Network>, to improve it.  Grin
8222  Economy / Gambling / Re: FreeBitco.in - Contest with $30,000 in GUARANTEED PRIZES now live! on: November 09, 2018, 06:24:45 AM
I think Wetsuit's bot detection has become too effective, because there has been a massive decrease in the Lotto participation, compared to a few weeks ago.  Tongue <The prizes has also declined a lot, so it is less attractive for people to participate in the Lotto>  Sad

In any way, I would much rather play for smaller prizes than having to compete with bots that are gaming the system. Just thought I would take a guess at why the Lotto participation was dropping lately.  Tongue Huh
8223  Economy / Economics / Re: Which industries don't need blockchain? on: November 09, 2018, 06:17:15 AM
I think the most obvious examples will be smaller industries that might lack the funding to hire expert developers to develop and maintain the complexities surrounding Blockchain technologies.

Some industries have very efficient financial databases and Blockchain technologies might not add any extra value. Why would you add some new technology, if your solution is working?

You do not have to be at the forefront of new technologies, just because it is the new trend. You can wait until the new technology has matured enough, before you jump onto the bandwagon.  Wink
8224  Bitcoin / Press / Re: [2018-11-08]US SEC Not Ready to Come Out Soon With Final Bitcoin ETF Decision on: November 09, 2018, 06:07:39 AM
In other revelatory news, water is wet.   Roll Eyes

I'd be surprised if they gave the thumbs up for an ETF before 2020 at this rate.  The establishment clearly aren't ready for us yet.  And I'm okay with that, because I'd rather see greater numbers of real people adopting Bitcoin before the floodgates open and the traditional finance parasites all invade at once.  That way, when ETFs are eventually approved, it'll be more difficult for the so-called "market makers" to manipulate volume and price.


Care to rephrase this in english?  It sounds like machine translation or machine generated text.  

There has been a noticeable decline in grammar with a few of their articles lately.  More proofreading required, perhaps.

I am with you on that, but I think they have some ulterior motives with the delay. They need a solid excuse to stop further applications, because with every rejection, applicants change their submission slightly and re-apply.

It is a well known fact that government red tape takes years to catch up to new innovation and I believe this is one of those cases where they have to do proper research before they can make the final decision or to come up with a good excuse to stop it.  Roll Eyes
8225  Bitcoin / Bitcoin Discussion / Re: Why should governments accept Crypto currencies? on: November 09, 2018, 05:55:03 AM
We are led to believe that almost all governments are corrupt and that most officials and even leaders of the world are bought.

We saw this for instance with the US elections where rumours are doing the rounds that massive amounts of money were channelled from foreign countries to influence the outcome of the election. This money had to be laundered through shell companies via Banks and complex money laundering systems.

All of this leaves paper trails and this can later be followed and investigated to find the true origin of this money.

Now think about this, why would "corrupt" governments want to appose Bitcoin and Crypto currencies, if they can use it to hide their "corrupt" practices? Would it not make sense just to allow it and then use it to further their political aspirations?

The push back from these corrupt governments does not make any sense. Could it be that they know that Bitcoin and Crypto currencies are not "anonymous" at all and that these transactions can be traced and for this reason they are apposed to it?

Curious to know what you are thinking.  Wink

I believe it was anonymous maybe they are just concerned about its negative effects to people. Like what you said not all politicians are corrupt there are stil ones who can stand their dignity without fear. Also, these crypto currencies are quite hard to manage compared to paper money since it was volatile. Maybe they are still on the process of studying these new trend.

The mandate of most governments are to protect their people, but they are doing more harm than good these days. The politicians that are not corrupt are in the minority and most of them are from the opposition parties. I agree with you that most politicians are still clueless about this technology, but they have skilled advisors that are knowledgeable to advise them. <These people are usually targeted by bribes, because they have influence over these politicians>  Angry

Bitcoin might solve these problems, if the bribes could be traced back to the people who are giving them.  Roll Eyes
8226  Bitcoin / Bitcoin Discussion / Re: Roger Ver: ‘Maybe I’ve Been Fooled’ by Craig Wright on: November 09, 2018, 05:33:05 AM
This makes me think of the saying, "Two dogs fights over the bone and third gets it" <Bitcoin BTC being the 3rd dog>  Grin  It is funny how two people with massive egos are fighting it out to be the Alpha male.  Tongue <Top Dog>

Craig Wright first fooled Gavin and now Roger Ver admit that he was fooled too.  Grin The next people to admit that they were fooled, will be the "fanboys" of these two people. They are both snake oil salesmen and it is not difficult to be fooled by these people.  Sad
8227  Bitcoin / Bitcoin Discussion / Re: Bitcoin on Climate Change on: November 09, 2018, 05:23:21 AM
Bitcoin will help to prevent global warming, when it disrupts the large financial institutions that are doing the most harm. Take the Banking sector as an example :

1. They have to transfer cash in armoured vehicles. <Air pollution by burning fossil fuel>
2. They spend electricity in their Bank branches. <Air Con, CCTV, Vaults, ATMs, computers, lights>
3. Running their massive server rooms and mainframes.
4. Their employees driving to work <Air pollution by burning fossil fuel>

These are just some of the things that these institutions are doing to contribute to global warming, compared to Bitcoin's small footprint.
8228  Bitcoin / Bitcoin Discussion / Re: Can we overcome the hard times? on: November 09, 2018, 05:16:25 AM
Hard times? You should have been around prior to 2017, when there was a 3 year slump period, where there were hardly any movement in the price.  Roll Eyes

You surely did not think that Bitcoin would have the bumper year of 2017, every year.. right? The 2017 phenomenon was a freak occurrence and I doubt if we going to see a repeat of that performance, ever again.

Let's be patient and just wait this out, it is a long-term investment after all.  Roll Eyes
8229  Bitcoin / Bitcoin Discussion / Re: Reasons why the SEC would want to stop institutional investment into Bitcoin? on: November 08, 2018, 06:46:21 AM
The "Average Joe" isn't a threat for the big boys.Actually the big boys want the Average Joe to start trading and investing,so they could get his money(in one way or another). Grin
I don't think that banks and politics see bitcoin as a big threat.They could easily buy it,instead of trying to destroy it.
The main reason for bitcoin ETF's decline is that the bitcoin price can be manipulated very easy.

Ok, so if it is all about manipulation, why are they allowing other precious metals ETF's that are also being manipulated? Could it be that this manipulations are exempted, because the manipulation being done is government sanctioned and approved by them? <Playing Devil's advocate now>  Roll Eyes

https://7bitcoins.com/ex-jpmorgan-trader-pleads-guilty-to-spoofing-on-precious-metals-market/

The whole financial system is based on control of financial instruments and keeping financial control in the hands of a small group of people. They want to know where the money is going and how much of this money are going into the wrong hands. The pseudo anonymity of the global Bitcoin market must be a huge threat to their control.  Roll Eyes

They know who are manipulating the price of other ETF's, so they can control it, but the global Bitcoin price is not under their control.  Wink  
8230  Bitcoin / Press / Re: [2018-11-05] Indian Teenager Threatens to Blow Up Miami Airport over Alleged Bit on: November 08, 2018, 06:33:26 AM
In a sense you have to feel some pity for this child. Just imagine his disappointment after he had lost his fathers money and also not making those huge profits that he had previously. I also advised some of my family members to buy some bitcoins, after what happened in 2017 and most of them are disappointed with their returns for this year.

The difference is, I am a adult and I know how to handle disappointments, because I am a experienced trader and I had my fair share of disappointments over the years. Yes, he was greedy, like most of us and he probably made promises to family members, like I did.

Let's cut him some slack, we also made some silly mistakes when we were 18-years old.  Roll Eyes 
8231  Economy / Economics / Re: Large volume on: November 08, 2018, 06:20:19 AM
South Korea is only a small section of the global market and I doubt that their trading volume alone will make a significant impact on the global price.  Huh We know from experience that some Asian exchanges created fake trading volumes to compete with rival competitors to increase their own status and to attract more traders to their platforms.

Since this has happened, governments stepped in to regulate some of these exchanges and they even forced some of them to close their doors. I hope we are not seeing a repeat of this scenario, because these governments will clamp down on this practice again, if this is happening again.  Sad
8232  Bitcoin / Bitcoin Discussion / Reasons why the SEC would want to stop institutional investment into Bitcoin? on: November 08, 2018, 06:09:07 AM
Last night I was thinking about the continuous battle to get the SEC to approve Bitcoin related exchange-traded funds (ETFs) and I analyses their excuses. Most of the excuses are centered around global <external> manipulation of the Bitcoin price. As we have seen lately, even Bankers and large cartels are manipulating Gold prices, so this is not something that is unique to Bitcoin.

Then I thought about the real reasons why the SEC would want to stop institutional investment in Bitcoin and this is what I came up with :

1. If they allowed Bitcoin ETFs, investment capital will move from traditional ETFs <which are under their control> to Bitcoin that are not under their control.
2. Nasdaq's SMARTS Market Surveillance systems control and monitor everything and these exchanges might not run this software.  Huh
3. The puppet masters do not want the "Average Joe" to play with the big boys.
4. Political influence < Pressure from the people who are funding politicians careers, eg. Banks>

Let's discuss the real reasons why the regulating authorities would want to stop institutional investment in Bitcoin.  Wink
8233  Bitcoin / Bitcoin Discussion / Re: Apple Takes Down Crypto Podcast on: November 08, 2018, 05:50:56 AM
When Apple changed their algorithm to curb "Keyword stuffing", it impacted a lot of Apps and they asked developers, to upload new versions of the app with a shorter title. So they gave the developers an opportunity to correct their mistakes, because they changed the rules.

If the podcast in question broke the new rules, then Apple should grant them the same opportunity to change something to adjust to the new changes. Was this done on the content or the title of the podcast?

It will be interesting to see what Apple has to say about this.  Huh
8234  Bitcoin / Bitcoin Discussion / Re: After ‘Taking out’ $6,800, Bitcoin Will Hit ‘New Highs’ In 2019, Says Galaxy Dig on: November 08, 2018, 05:40:45 AM
 Institutional investors can only enter the scene, if they are given a legal platform to do that. The regulating authorities are trying their best to block these institutional investors from investing in Bitcoin and Crypto currencies. I think they know if this is allowed, then less investment capital would be available to be invested in traditional commodities and assets that they are controlling.  Angry

I think we should avoid predictions like this, until we see approvals of applications for platforms that would allow institutional investors to invest in Crypto currencies. My guess is that the Bitcoin price would hover between $6000 and $7000 for the rest of this year.  Tongue
8235  Bitcoin / Bitcoin Discussion / Re: Bitcoin Related Crimes Surge on: November 08, 2018, 05:33:06 AM
Bitcoin cannot solve stupidity. Some people would not walk around and tell random people that they have $300 000 in their Bank account, but for some reason it is acceptable for them to tell people that they have 1000 bitcoins stored away.  Roll Eyes

Keep you financial status hidden from other people and never reveal your primary hoard to vendors and merchants. Use a separate wallet for purchases online, which you fund from smaller paper wallets, when they are empty. I created several paper wallets with smaller amounts and when I need to buy something big, then I fund my wallet from these paper wallets.

This way, nobody can trace how many coins I have. <The paper wallets was funded via a Bitcoin mixer service, so the main wallet stays hidden.>  Wink
8236  Bitcoin / Bitcoin Discussion / Re: French Lawmakers to Lower Cryptocurrency Tax by 6 Percent on: November 08, 2018, 05:26:17 AM
At least some of these governments are starting to handle Bitcoin fairly towards other commodities and assets. They say, "this will bring cryptocurrency transactions in line with other non-real estate assets, which are taxed at a flat rate of 30 percent."

I cannot see why some countries want to double tax Bitcoin, when other forex trading and commodities are taxed at a lower rate. Some countries tax Bitcoin trading with Capital gains and they still add VAT to these trades.  Roll Eyes

I tip my hat to the French, with this move.  Wink  
8237  Economy / Gambling / Re: Lordmancer II - an MMORPG where you can earn crypto on: November 07, 2018, 06:31:57 AM

I gave you a Merit for this constructive answer, because it adds value to the conversation. I asked my kid to try it and it was a huge struggle for him to get started with this as a newbie. A MMORPG game should have a lot of tutorials and videos to explain the basics and I had to help him with most of the knowledge I had of MMORPG experience I earned over years of playing it.

He had the same goal, " Earn Crypto currency while playing your favourite game. " and he received no joy, after playing it for 2 weeks. So he just gave up.  Sad

What was the reason that he received no joy? Was it because of tutorial absence?

He said the learning curve was too difficult and the gap between high and low level players was too big. The game also had little opportunity to earn some money, because the activity was too low. <not enough people to trade with>

He is also playing other games from https://plarium.com/ ..so he is used to games with a massive user base and a lot of activity and also very good tutorials. Tongue

I doubt if you can do something about the activity, but I know you can do something about the tutorials.  Wink
8238  Economy / Economics / Re: No Crypto Taxes Until 2030: Proposes New Ukrainian Bill on: November 07, 2018, 06:21:27 AM
The zero tax incentive in the Ukrainian will certainly draw a lot of attention to Bitcoin in that country, but I do not know how long this will last, if it becomes more popular than their local reserve currency.  Roll Eyes
I'm not sure if that will happen, but my point of interest is how long can they maintain their position as tax friendly country to operate in. I'm sure that more countries will end up competing for the same businesses.

Another advantage of Ukraine following up on their previous statements, is that it may very well be Russia's testbed. If Ukraine does well and there is next to no negative impact, they will follow for sure.

It may even result in a situation where Russia will outcompete Ukraine with dirty tricks, which they aren't shy of to fall back on. It's a step forward for crypto overall, hope it will reach other countries as well.

It might, if their goal for this was to eliminate "cash" usage and to move towards a cashless society. A lot of the smaller countries have to rely on other countries to print their money and this is costing them a fortune. Bitcoin is also very transparent, so if they want to clean up their government and their tax collection, then Bitcoin is the best solution.

The regulations to support the use of Bitcoin, will determine what their goals was with this move.  Roll Eyes
8239  Bitcoin / Press / Re: [2018-11-06] Electric Bike Runs on Lightning Network on: November 07, 2018, 06:14:42 AM
Are you talking about Netflix? I mean they are really cheap. I dunno why someone would pay per episode instead of having a subscription. I mean 9 bucks are less than the transaction fees which bitcoin had during the Bullrun. But I would love to see Netflix accept cryptos.

Pay-per-view at a fraction of the cost sounds great to me, especially since TV/movie licensing means you have to use different services to watch different titles. I rarely watch TV. Maybe a few times a month when someone suggests a random movie or documentary (which often isn't on Netflix anyway). I do have a Netflix subscription, but it's a waste since I hardly ever use it. I only pay the subscription so it's there when I need it.

I definitely see a use case for ad-free video and music streaming.

Micro transactions can even be used for streamed content providers. A hypothetical scenario would be to pay per second of viewing for instance. How many times have you rented a video online and started watching it and then decided that it was crap and then stopped watching it. <You had to pay the full amount for the content, but you just watched like 30% of it.  Roll Eyes>

The pay-per-use concept is exactly what micro payments was meant for and this is ideal for the Lightning Network.  Wink
8240  Bitcoin / Bitcoin Discussion / Re: It is necessary to find one private key out of 10 million Bitcoin Addresses on: November 07, 2018, 06:08:05 AM
unless you won a quantum computer or have any superpower like breaking Bitcoin Private Keys or any super genius alien tech in control - you can't.

Quantum computers will only work, until the developers introduce a stronger encryption. My guess is, if they announce the first  Quantum computer, then a upgrade/patch will be quickly applied to address this challenge. People should not be too worried about this, because the developers already have a solution in place for this.  Wink

The Banking sector on the other hand, will have some serious challenges, because most security on secure online Banking websites use the same encryption as Bitcoin.  Tongue

OP, good luck with your project, but I think you are going to fail on this task.  Wink
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