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Another of my low fee transactions (25sat/byte) got confirmed recently, it took more than 5 weeks, which is fine for me. Maybe I'll test pushing low fee transactions some day, because it looks like a good strategy to save some money - you can send coins to your wallet with very low fees and in case you will need them confirmed, you just add more fees. Pushing transaction probably costs a lot (my Electrum suggested something like 0.006-0.01 BTC for child pays per parent transaction), but most of the time you will be saving money with lower fees, so in the long run this strategy should pay out.
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i think these things overtime will make bitcoin not as valuable.. plus the fact banks (while hated by most), have hundreds of years of reputation behind them and are easy to access... Just reading and learning about the ins and outs of bitcoin make my head hurt and I'm fairly saavy when it comes to most tech
Bitcoin is volatile because it's still early days, the volume is quite low and every buy or sell affects the price greatly. This would come down when Bitcoin will reach widespread adoption, because volumes will increase greatly and it will become much harder to manipulate the price. But adoptions can only be reached if the scaling problem will be solved, so stay tuned for the upcoming news about possible fork and voice your support for whatever side you chose in this debate. |
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More than 50,000 U.S. merchants already accept bitcoin, and you may soon fall behind your competitors if you don’t have a plan for dealing with cryptocurrencies.
Over the short term, it means getting educated about the technology and adapting some business processes. Over the long term, it offers increased simplicity, greater efficiency and lower costs.
At this state, I would never use Bitcoin for daily purchases. How can someone justify paying $2-4 or more in fees for each transaction, no matter if it's worth $10 or $100 or $1000? Just make a thought experiment - every time you pay with fiat, set aside a few dollars and see how much it will be at the end of a month. When scaling will be fixed, then we can start talking seriously about widespread adoption, but before that happened Bitcoin has very niche uses - trading, gambling, moving value when you can't or don't want to deal with banks. Period. |
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In about 3 weeks from now the DAO ICO begins Dao Casino is a gambling platform built on top of ethereum they promise provably fair gambling as well as a lot of fair ways for developers, bankroll backers and contributers if they become active on this platform. you can get a first glimpse on what dao casino is check out this youtube channel https://www.youtube.com/channel/UCug4CLYZzq7KEECY9MIqJBgThe same DAO that got hacked right after the launch? I'd say it's quite risky to run such casino or to play there. Also, who is running it? Is it going to be publicly funded like many BTC casinos? If so, the investors are going to be in a huge risk in case of any potential bug abuse or hack. Maybe decentralized casinos will become an industry standard in 5-10 years, but right now they are still too unreliable. |
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I think carrying Lego is actually quite suspicious, since they have a lot of spots to hide something and people usually don't carry unsealed packs of random Lego. Anyway, why would you want to hide a microSD card in airport? Is that illegal or what? You could also just memorize your wallet seed - it's only 12 words, and turn your brain into a backup storage of your Bitcoins  |
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I think billionaires really don't like to risk, they prefer stable investments so Bitcoin might sound too risky for them. Maybe some have Bitcoin as a small part of their portfolio, but nothing too big. Also, I think many billionaires are older people, and older people are usually not interested in new technologies.
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We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.
You still can advice Bitcoin as a currency, but the number of cases when it's better than fiat is fairly limited. First, it's big transactions. Bitcoin's fees are determined by the number of input/output addresses and not the amount of transacted funds, so moving $20 000 worth of BTC with $20 fee is a 0.1% fee. Second - overseas transactions. Usually they are very expensive and receivers in some countries may lose 5-30% of the sum after bank fees, currency exchanges, etc. Bitcoin fixes that. |
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Why is it that when people compare coins, they bring up what the "market cap" would have to be in order to project a price? Why does this matter, if it's just coin price x number of coins?
Why would one coin not be able to achieve a particular market cap?
Marketcap helps to compare how much fiat was invested in some coin. Although you shouldn't think that if Bitcoins marketcap is 46 billions USD, then people literally exchanged 46 billions USD for all the Bitcoins. It only means that Bitcoins were exchanged for more fiat than other coins. |
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Maybe a repeated question ? Not sure...
Just simple economics, no need to get very deep into this question.
USD (as an example, could be other currency) has no limit, nothing scarce, it has value because people believe in it, it has history and is issued by an entity that is loosing the trust once had.
In the other hand, any crypto currency is limited, it's scarce, it's been almost 10 years since the creation and you can trust the technology.
Why is this still not worth trillions ?
Bubble means that something rapidly grows in price and than falls to a previous level or lower. This is not happening with fiat, as its value only constantly decreasing due to inflation. Why crypto is not worth trillions? It's very slow and very expensive to move, it's in a gray are of the law. Most people feel satisfied with fiat, so why should they switch to crypto? |
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Hello Pipols of Bitcointalk!!! At avsbsports.eu we have many passions. We love gambling, we love games, we love sports, we love leveling up, we love learning and we love sharing that knowledge. Thus, we ask you: What advice would you give to a novice gambler to help them "Level Up"? We will take your input and add it to our Newbies sections. Thank You! My advice: better to learn off someone's mistakes rather than your own. For example, there are many stories about people lost dozens of Bitcoins in a very short time, and it can happen to anyone who can wager those amounts. Newbies should also learn from experienced gamblers in sports betting and poker, although very few share their secrets, since it's their source of profit. |
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If you have Google Authenticator + 2 step verification (mail code) enabled, isn't that like really good defense vs getting hacked? I have the most important coin (XBY!!!) stored in offline wallet but I feel like my small parts of other coins are pretty safe on Exchanges with those autheticators and such.
It will probably protect you from getting you account hacked like thieves typically do - they take over your phone number by calling to your operator, take over your email account with your phone number and than use restore password to get into your exchange account. So, 2FA from Google protects you from this, but if exchange gets hacked on higher level, like it happened with Bitfinex, nothing will protect you. |
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Just like there are many assets, currencies, and precious commodities in the real world, there will always be many different coins in crypto world. Many coins that exist today will die, many new appear, but Bitcoin (or some altcoin) will never be the only cryptocurrency. There's no benefits in having just one crypto coin, while having many creates competition between developers that will make them work harder, users will always have access to reserve cryptocurrency if one of them gets hacked/overtaken by someone, etc.
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I've been in a few months making bookkeeping for every deposit / withdrawal i did. Sounds a bit stupid but I feel the benefit of it all. Like I can resist my desire to gamble after loss much or after get huge wins. did you wanna try my way I'm doing this for all my Bitcoin transactions, and now when I look back at how my BTC I've spent and calculate how much they are worth today, I get a little bit depressed and discouraged from spending my coins again. So, it can be a good habit for anyone who want to save money and become a true hodler. With Excel you can easily insert formula that will always return updated value of your spent/earned Bitcoins, you can also track profits from your investments and do many other useful things. |
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My best investment #1 - bought ETH half a year ago, invested it in casino bankroll, got around 50% return from the casino and 500% return from the price change, which led to a cumulative 750% return.
My best investment #2 - bought XRP before the pump and didn't look at it until it skyrocketed 10 times higher.
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I am living in a still-considered as a third world country which kinda suit me because the standard of living here is still low and we can easily afford all the necessities of life and even some luxuries here and there. Money here goes a long, long way at least compared to developed countries like USA or Japan for that matter.
It is then good to retire here most especially if you have the money in your purse. Now, I am planning to set aide even just 1 Bitcoin as part of my retirement plan...of course it is just part of the mix as I am also into cacao/mango/coconut farming which can also serve me well when I am retired.
Do you think 1 Bitcoin can be good for retirement...let's say 20 years from now?
It's impossible to predict the price with certainty, there's a very good chance that it will be high, but how high - no one can tell. Maybe just $10 000, maybe $25 000. maybe $100 000. If Bitcoin is only a part of your retirement portfolio, than invest whatever amount you are comfortable to invest now - if you can only afford 1 BTC, than buy it. if you can buy 2 or 3 BTC than do it. |
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Bitcoin is a digital gold, because just like real gold it's slow and expensive to move. At it will stay like that until the scaling problem is solved, so pick your side in the ongoing debate and wait for the outcome.
And where is Satoshi in these hard times? He disappeared long ago without any explanation, so how can you blame people for using Bitcoin for making money via trading it, if there's not much else to do with it?
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We tell our friends about it and they buy it at 10% more than you paid for it just because you have the in.
Did they really need this in their lives?
Because Bitcoin is a p2p currency protocol, it was create with a purpose of allowing people to transfer value without middleman. While MLM schemes are created with a sole purpose of generating profit to people on the top. Bitcoin doesn't care if you are talking about it to your friends, it increases in price because investors all over the world see its potential, not because its users are luring newcomers to buy it. |
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5 weeks ago I have sent transaction with similar fee to yours - 25sat/byte (you paid only 38sat/byte) and my transcation is still unconfirmed. So you will have to wait a few weeks, maybe a month or two, maybe your transaction will even get rejected. If you want to speed it up, use some service that offers to push transactions with low fees. |
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We all know that Bitcoin was designed decentralized in order for a powerful entity would not be able to control Bitcoin as a whole. Thank Satoshi for that. However, since Bitcoin has become very hot in the eyes of the public as well as governments around the globe, is it possible that they, the government, will be able to regulate Bitcoin? Let us say that an international body or a union of governments across the globe decided to takeover all Bitcoin mining facilities especially the ones that functions in full node. If that happens, can we consider Bitcoin as centralized and it is now regulated by the government?
Bitcoin is a software and a blockchain file. So, governments can only really control Bitcoin if they control literally all internet. It's pointless to try to overtake Bitcoin via achieving overwhelming mining power and controlling nodes, because people can just fork. Blockchain protects Bitcoin from any interruptions, because thousands of people own a copy of it, so it's impossible to kill or seize Bitcoin. |
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Stop calling the recent expansion of the cryptosphere a bubble. We are not in a bubble. We are simply experiencing the rapid expansion of a nascent technology with new entrants and their fiat entering the market. A bubble is when everyone is talking about cryptos, e.g. your taxi driver, the bellboy, etc. Outside of my close circle of tech colleagues zero people are talking about Bitcoin.
Each time the price of something skyrockets in a very short period, public opinion splits into two options - "this is a bubble" and "this is a new paradigm". In reality, you never know for sure, the price is driven by so many factors, and the future, both distant and near, can be so unpredictable that there's simply not worth to seriously argue if it's a bubble or not. People should put their money where their mouth is and buy or short Bitcoin accordingly. |
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