It's a well known fact that 1GG3CLYd36tmU2X73rmHYzsTtaJcNwMcCC is the default address for destroying Bitcoins
*cough*
lollll hahaha i laughet so hard. any takers so far ?  back to OP; why in the worly would you want to destroy them anyways ?! With bitcoin being as valuable as it is now there is no real reason why one would wish to destroy bitcoin. Several years ago when BTC was trading well under a dollar it may have served an academic interest, or to see how the miners would react to a TX that destroyed bitcoin. |
|
|
|
The best answer to know anything is to try.
And, use profit calculator to see if you are making profit or not.
And, google as well to know if the cloud miner sites are scam or not.
You should not need to have to try something if you are investing your money in it. Google is not always able to tell you for sure what is legit and what is not. |
|
|
|
Follow Franky1's advice. Doing it anyway may allow you to get some BTC for the time being, but it will not end well.
That OUGHT to be good enough; the main consideration is that your bank allows you to transfer out the funds required... once you have the BTC... divide it up and stick it in offline wallets right away. Once funds are in an offline wallet; they should be reasonably secure against any 'shenanigans'. Do any trading to fiat virtually on different exchanges that are not linked to a bank account and that you didn't wire funds to; expect to convert back to BTC before withdrawing. Wait 1 year, until you are 18, before attempting to cash out any BTC back to real dollars. Many banks will allow someone that is 16 or 17 to get a bank account if they have a job. |
|
|
|
If you're just going to buy your bitcoin back and pay a spread while doing so, what's the point? How big of a discount are we talking here?
The point would be to get the discount from the merchant. The point the merchant may offer the discount is to get you to see how Bitcoin works. |
|
|
|
Don't use a brainwallet. That's terrible. It's only terrible if you're not smart enough to use it correctly. To be fair though, many people aren't. Even if used correctly a brain wallet can be less secure then other types of security for wallets. The only real time when a brain wallet should be used is when there is a good chance that others will have extended access to your possessions. |
|
|
|
It is unlikely ebay will allow bitcoin and let paypal takes a big hit financially.
The reason they might allow btc is if it enabled greater business for them. The other point is paypal has to pay costs, they arent the biggest fish; they must pay visa, mastercard and various bank fees If btc can be cheaper for a massive enterprise then I will be very much impressed. Maybe the maths is already there and someone can say is it visa or bitpay which charges more for the same invoice My own take is that BTC strength is the global aspect and speed, I think it is cheaper there. Domestically, I think btc is slower then my normal (personal) bank payment and I dont pay fees so Im not sure there Problem is, Paypal can't really charge huge fee if bitcoin is used. IMO if bitcoin were to become mainstream enough then it would likely put paypal out of business. |
|
|
|
the question is: why spend bitcoin if it will be worth more in the future?)
This is an issue with bitcoin. With people thinking that it will increase in price in the future, it makes people hesitant to spend it unless they absolutely need to. |
|
|
|
I would love it if this happens. PP needs knocking down a peg or two. They need to rethink their fees and I hope bitcoin forces them too.
their fees are high because they either destroyed or bought their competition.. that's capitalism for you. It's not only that. The fees are high because of what it costs them. You can see it in what happened to Dwolla. Dwolla thought that they could come in and undercut PayPal. But then they found out that it's a lot more complicated then they thought and basically became just another PayPal. I hate PayPal but it's the underlying system that's really the main issue. Would you say that it is expensive to install consumer protections? |
|
|
|
Girls using Bitcoin sounds kinda nerdy (because Bitcoin is kinda nerdy)  Exactly. Generally speaking girls do not tend to be the nerd types. You do need to be kind of a nerd to be into bitcoin (at least a few years ago, but less so now). |
|
|
|
- Wonder how Coinbase instantly validates?
Because you would be paying with your coinbase account, so they are really controlling the funds. They are the trusted third party. This is another LAYER. Essentially, you are telling coinbase to pay them, and the merchant is assuming coinbase won't double spend. Hope that makes sense. Both coinbase and greenaddress would be good to be sure that payment will be received with dealing with high value items. If you are only selling low value items (a few dollars) you should not worry about double spending attacks as they are generally expensive to execute. But that would require both consumer and merchant to have accounts with the same service. In any case, if it was a high value item, why would you mind waiting for one confirmation? You should not mind, in general. The issue would come into play when you are selling high volume items in masse. Say for example someone is buying a computer at Best Buy, the buyer would not mind waiting 10 minutes for the TX to confirm, but the seller (Best Buy) likely would. Now a transaction that could take 30 seconds to a minute will take, on average 10 minutes (if it gets confirmed in the next block), meanwhile everyone in line will need to wait, making their employees less efficient. |
|
|
|
MultiBit uses SPV and doesn't need the whole blockchain.
If MultiBit did not receive the TX that sent the coins to the address in question then it will not update. When you reset the blockchain it is suppose to download all of the TX for all of the addresses in that wallet. |
|
|
|
The military doesn't do any thinking...they do what they are told. Who tells them what to do you may ask? Follow the mostly worthless paper-trail. Orders are handed down by government, government is owned by private central bankers...nuff said
The government actually has influence over the central bankers. Central banks should be independent but congress/the president could easily put influence on them. |
|
|
|
Money leaving russia means that it's currency is weaker. If it did not have a currency (instead used bitcoin) then prices of goods it imports and exports would not go up and down based on the state of it's economy. This argument doesn't really hold water until the price of Bitcoin stabilizes though. No? If your local currency is almost certainly going to fall by 20-30% due to upcoming war and economic instability, wouldn't you rather keep your money that only has a chance that the price will go down by 20%? Another issue is control. If you have your money in fiat then the government could potentially seize it. In times of war seizure of money is more common as the government needs to pay for it's war machine. |
|
|
|
Moore's law can never catch up to the crypto in Bitcoin. The only thing that could (MAYBE we don't know yet) would be quantum computers.
There is a limit as to how efficient in terms of electric usage computers can be. |
|
|
|
This is not valid with Dynamic IP internet connections, like the connection I've right now.
Even with a dynamic IP address your identity can still be found. Your ISP will keep logs of who is assigned what IP address at what times. |
|
|
|
Quite a drop over the past 24 hours but a decent rebound.
Makes you wonder what'll happen when they announce they're going to sell the 144k coins
Hence people investing in bitcoin is really no different than gambling. Investing is often a kind of gamble. For examples, in stocks most of the people do not know if they will go up or down in advantage. This is technically true, however if you do your research and put your money in companies/investments that are less likely to fail then this is less like gambling. |
|
|
|
ghash could earn more by ignoring all other pool blocks and just extending on its own chain. diff would even decrease and they could earn more They would not earn more in terms of fiat. If they were to attempt this kind of attack then the price of bitcoin would decrease substantially and what they mined on their own chain would be worthless. i am not sure about this. it was definatly true in the beginning: but now? too much investors... This is even more true now. Ghash makes a lot of money off of selling their GH/s on cex, if they were executing a 51% attack why would anyone want to deal with them again once the network recovers. |
|
|
|
I would personally never trust my coins with Facebook.
Well it does seem a bit risky, that said if they used cold storage and proper security measures a reputable company would be fine Although the NSA knowing what your balance is or asking it is a turnoff for certain. Edit: Your right I would not trust my coins with them given their privacy policies Privacy would be the biggest concern. Another big concern is that facebook accounts get hacked all the time. I can't tell you how often I get spam from people on my friends list that is clearly some kind of spam bot, their account is later recovered and I see a status apologizing. |
|
|
|
Not only that but noone has any real proof of any of this.
We have "real proof" of very, very few things in life. Nevertheless, we have no difficulty making decisions based on the preponderance of available evidence. This isn't a metaphysical "how do you know you exist" kind of thing, nor is it a criminal case. This is just an ordinary "make the best decision you can with the evidence available to you" thing. I would consider "real" proof something that a reasonable person that has a reasonable understanding of the facts and situation would believe. What was being presented was really noting more then accusations. |
|
|
|
whew...I'm stuffed on popcorn...this is getting good  Yea this is ridiculous. Not only that but noone has any real proof of any of this. There is sufficient proof to easily hold up in a criminal court case, IMO. I respect eligius a lot and would say that the reputation of eligius would be sufficient to believe you if you say that there is proof. However I would be very interested to see proof. In regards to the proof holding up in a criminal case it is important to understand how complex Bitcoin is. You need to be smart to understand even much of the basics as to how Bitcoin works. I would be surprised if you could explain to a jury (made of up "average" people, most of which likely would not have any technical background) how a pool works or how miners work in enough detail that would allow you to explain the evidence. In regards to should he be paid if he is withholding blocks, if it appears that he withheld three blocks (for example) then 76 BTC (I would be aggressive with TX fees) should be withheld from his payment, at the very least. This is regardless if he was doing this intentionally or not and is especially true for such a large mining farm. If it is apparent that he was doing this on purpose (if this person is who he says he is then he was doing it on purpose) then there is no reason to provide payment at all IMO. Intentionally withholding blocks from pools will degrade confidence in pools, which would lead to a decreased number of people mining in the first place (they would only solo mine and only if they could do it when they have enough hahspower that luck will not be a big issue), which would lead to centralization of mining. |
|
|
|
|
Show Posts
