~
Just go back to the previous event and look at the price history. Everyone thought it was going to have a massive impact and we were very disappointed. ^grrrrrr^
Knowing how media and whales work with each other, you'll might be enlighten. It's just noticeable that the whales are just using the halving issue to push through the price and with the help of media mainstream they can disseminate small issues into a big and more complex issues. And in return the price will fully manipulated. If you can remember last year, there's a lot of fuds about halving and idiots are spreading like a wild fire. I am not dismissing the fact that the halving has a impact on the price, but I am saying this is just a temporary thing and people quickly forget what the long-term impact of this means. When you reduce the Block reward by 50%, you also reduce the supply of coins to the market and this will push up the price, IF the demand stays the same. We must rather focus on increasing the demand, because the halving means nothing if the demand drops. OP, just gave us a reminder that there are still events that will push up the price in the future, but that will only happen if the demand stays the same or if it increase.  |
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Ok, but did the Lightning Network not throw a fox into the chicken coop? Satoshi's idea was for the Block reward to decrease over time and for the tx's to increase, so that the miners rewards would eventually replace the Block reward? Now we are implementing a 2cnd layer solution that would effectively reduce micro payments from the Bitcoin Blockchain and this reduces the tx volume. We are hoping the Lightning Network will solve the scaling limitations and that it will increase adoption, but what happens if this does not happen? We need to look to a future where the miners rewards needs to replace the Block rewards.  You are only partly right about the block rewards (and that means you are party wrong too). Even yesterday, at a jump in price, people reacted heavily and the number of transactions grew a lot, also the tx fees started to rise. Since we aim to get to bigger numbers than VISA can handle, there's a good chance that average tx fees will be higher than the basic 1 sta/byte. You need patience though. Then there's something else you've missed. The price of Bitcoin. If today the reward only from tx fees in a block is maybe 0.2 BTC, with high enough price of Bitcoin even this amount would do. Bitcoin mining doesn't have to be for everyone(*), only the most efficient ones will keep up. (*) If Bitcoin mining would have been for everybody, big changes would have been needed, see Monero.This makes it even more risky, because we need two things to happen for this experiment to succeed. We need massive amounts of settlement tx's on-chain, when people open & close channels on the Lightning Network and the price of a bitcoin must grow exponentially for miners to be profitable. Fortunately for us, Bitcoin was developed to cover most of these challenges. If one thing goes down, another thing goes up and visa versa.  {Difficulty adjustment is one example} |
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One thing people could do to bring down the transaction charges of these Bitcoin ATMs is to offer adverticement space on the display of these ATMs. So you give these ATMs a double feature, by displaying advertisements on the screen and it doubles as a ATM.
Obviously the screens will have to be a little bigger to make this more practical, but it would be a good income for the owner or person renting the ATM, because it will have a dual function.
You can even offer access to eCommerce sites via these machines, if these sites accept Bitcoin. A one-stop access point for people to buy Crypto currencies and also to use it on sites that accepts Bitcoin/Crypto currencies.
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These must be very tiny whales. You must be very new to Bitcoin, because a 1% to 5% daily volatility in Bitcoin is nothing strange for us.  You will know when whales are involved in Bitcoin, because the volatility will be much bigger and faster than this small bump in the price. A lot of these whales work together in a pod, so the volatility will snowball once a pump or a dump is initiated. Go back and have a look at the daily volatility in Bitcoin and you will see what I mean.  |
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I doubt the credibility of this news, as the Islamic Bank of the Republic of Iran banned any deal with cryptocurrencies.[1] The report mentioned names like the Iranian president and Saeed Mahdiyoun[2], I have looked for the second name and found no connection to the Iranian government. Also, dealing with these currencies will not benefit the state as the qualities of selling oil and others require a lot of money that can not be converted using cryptos without a note. [1] Islamic Bank of the Republic of Iran ban crypto[2] Google search for Saeed MahdiyounIt would suit them if they banned other Crypto currencies. They might even have banned it to pave the way for their own Crypto currency. We all know how these corrupt governments work, so it is no surprise if they banned it in advance. <You do not want any competition from any other Crypto currencies, if you are planning to develop and implement your own Crypto currency.  GovCoins will also fail, just like Fiat currencies fail, because it is controlled and manipulated by these corrupt governments. |
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The problem is, corrupt governments have no interest to develop or use any technology that would hide their corruption. They would rather "change" that technology to their benefit and then ban all other technologies that would endanger their empire. We see this with all the "private" Blockchain technologies that are currently under development. They want to control the hosting of the nodes and they want to have full control over the development of the project. Once they have the control, they can "remove" specific transactions that could implicate them in corruption and they can block access to their "private" Blockchain. |
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You can share any type of file. The application converts your file(s) into Upfiring files (.ufr extension) and encrypts them, so that all transactions that occur on the network are private. There are no file size restrictions. We debated this, but the main reason we used Ethereum over Bitcoin were for the smart contracts. The application is completely decentralized so we needed a way to manage and distribute funds to seeders. As such, the main UFR smart contract manages the funds for all the seeders on the Upfiring network and is able to move them within the contract whenever a file is downloaded. It also solves the issue of having multiple seeders. With Bitcoin, you'd have to send a transaction to every seeder when downloading a file which would be detrimental for files with 20+ seeders. By using a smart contract, the downloader can make one transaction to the contract and the funds will be distributed to all seeders appropriately. The way we have it set now, the original seeder (content creator) gets 50% of the funds, while all other seeders on a file split the other 50%. Ah, Thank you for the detailed explanation. I think I see the bigger picture now and I would define it as a encrypted version of the Pirate Bay. Will the link to the file that are being distributed be catalogued on a centralized web interface run by you or will you just provide the encryption service for the files and then re-distribute the link to the encrypted files? Where will the encrypted file be stored? <Peer2Peer or centralized servers?> |
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Ok, but did the Lightning Network not throw a fox into the chicken coop? Satoshi's idea was for the Block reward to decrease over time and for the tx's to increase, so that the miners rewards would eventually replace the Block reward? Now we are implementing a 2cnd layer solution that would effectively reduce micro payments from the Bitcoin Blockchain and this reduces the tx volume. We are hoping the Lightning Network will solve the scaling limitations and that it will increase adoption, but what happens if this does not happen? We need to look to a future where the miners rewards needs to replace the Block rewards. |
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Words coming from a guy standing on the deck of the sinking Titanic. He is trying to tell people to be calm, the ship is not sinking, ignore the water flowing into the ship, because the Titanic is bigger and better than all the rest. ^lol^ Knowing Roger Ver, I would not be amazed if he still has all his Bitcoin <BTC> and just hyped up Bitcoin Cash because he got a shitload of it when Bitcoin <BTC> forked and he wanted to make a huge profit on that pump. The need for attention is huge with this one. |
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OpenBazaar is way too difficult for the average user to understand and the seller needs to be online for the transaction to take place. < or did this change with the latest software upgrades? > I have to admit, it has been a while since I used them, but my first experience was not very user-friendly.
I honestly can't think of anything that's marketplace related and more user friendly than OpenBazaar. You can pay vendors instantly without having to wait for anything, and you can also choose to use an escrow option in case you don't trust the vendor, which is great. It's more user friendly than it has ever been, so definitely give it another go. I would like it if OpenBazaar would stick it to eBay, because we need some competition in this space and we also need a solution with much less rules.
If we can convince not only people but also stores to use OpenBazaar, it might turn out to become a potential competitor for PayPal. In most cases sellers complain about PayPal that it always favors the buyers, even in some obvious cases. It does end up costing sellers thousands of dollars in some cases, and Bitcoin (you can also use other currencies through OpenBazaar) tackles that with its irreversible transactions. The only thing OpenBazaar will need to actually become a competitor, is some sort of a web interface so that people aren't forced to install software. As I said, it has been a while since I used it. I will definitely give it a try again. On your suggestion to give it a web interface, I would disagree for the following reason. OpenBazaar is unique because it is decentralized and a centralized web interface would just void the advantages of the decentralization of the market place. A centralized web interface will make it easier for governments and hackers to target it. Do you agree with that? |
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The only thing that "halvings" does is waking up the major news media outlets, because they have something sensational to publish. The pumpers will then jump on the back of that and they will pump the shit out of that, to increase the price. This is just a short-term price increase opportunity and should not be seen as the ultimate event that would keep the price inflated. Shortly after the hype has died down, the price goes down again.
Really? I don't think that this is the case at all. Bitcoin halving is always a big deal, because the amount of coins that come into circulation literally gets halved. That's a huge figure and lowers the supply and in theory if the demand is still there and growing the value will keep rising. Classic supply and demand theory. Bitcoin being pre-planned to be limited and issued in a fixed amount that lowers every four years is one of the defining features and why it gets rarer over time (assuming demand is still there and/or growing). You can worry about 'pushing it into the mainstream' later and those things will come gradually, but the coins being scarcer is one way that helps everyone who holds them and is the way bitcoin was designed to be and it's why it's a big deal. Yes, it is a big deal for a week or two and then everything goes back to normal, because it becomes old news. A lot of the impact is priced in before the halving takes place. So you will see a slight increase in the price, prior to the event and then a higher price increase when this event gets some publicity and then the price slowly decrease to the price where it was before the hype started. Just go back to the previous event and look at the price history. Everyone thought it was going to have a massive impact and we were very disappointed. ^grrrrrr^ |
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Now, if you asked this same question about the Lightning Network, then you would see a significant response, but the Lightning Network is still in it's early days and most casinos have not incorporated that into their payment software.
Frankly speaking, most of the casinos haven't even managed to implement a proper automated withdrawal structure. Implementing Lightning Network should be way ahead of their priorities. well to be honest since I mainly do sportsbets then I don't care much about transactions and fees , all the sites that I use for my betting have 0 withdrawal fee so even if fee went to 20$ it still won't affect much
also I make like one or two deposits a month where I have to pay the fee , but the fee is really tiny compared to the deposits that I make
Paying $20 as fees for smaller transactions would be basically the death of bitcoins. How the fuck anyone is cool with paying $20 for a bitcoin transaction? anyways if network got busy and spammed like it was before I guess dice and casino players are the ones who will have struggles since they tend to deposit and withdraw a lot and usually the sites don't pay for the fee
Pretty sure they won't pay $20 per transaction just to make sure the players receive their withdrawals on time. Most of the casinos where I gamble have a proper withdrawal structure for small withdrawals, but they still back that up with "human" verification structures for larger withdrawals. You cannot trust computers, if you have a small operation. In the last part of your post, you got your quotes all mixed up, because you quoted things that SyGambler said and you put it under my quotes. |
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I always look for the good news when I see "green" and I cannot see the good news that are driving this optimism in the Bitcoin market. The slightest price increase does not bother me, because I am not planning to sell before we reach the Moon, but I have to advise friends and family who might want to buy or sell.
No Good news + Price increase = Bullshit. ^Ooops^
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Why do you think SegWit would make a difference in their daily operation? Yes, they might save a couple of dollars with the cheaper miners fees when gamblers withdraw some bitcoins, but the Legacy Bitcoin transactions has improved a lot since 2017. I think with a lot more people shifting to SegWit and transaction volume going down and spamming stopped, the Legacy addresses is still very fast and cheap. Now, if you asked this same question about the Lightning Network, then you would see a significant response, but the Lightning Network is still in it's early days and most casinos have not incorporated that into their payment software. I do not own a gambling site, but I know one of the Support technicians working at one of these sites and he says the SegWit thing is a non-issue with their casino. |
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The only thing that "halvings" does is waking up the major news media outlets, because they have something sensational to publish. The pumpers will then jump on the back of that and they will pump the shit out of that, to increase the price. This is just a short-term price increase opportunity and should not be seen as the ultimate event that would keep the price inflated. Shortly after the hype has died down, the price goes down again.
We are looking for events and projects that would permanently push adoption upwards and this will give us an sustained increase in the price over a much longer time period. What Killer Application can you think of that would give us that?
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I never heard of any of them. May be they are lacking advertising as well. These projects are fairly new IMO. If they are doing good job then some day they will make it popular. Ebay/paypal did not build up in a day. They are in the market for long time. I wish those marketplaces do better job in time.
OpenBazaar definitely lacks proper marketing, especially if you take into consideration that it went live back in 2016. It's doing a fantastic job, but as with every decentralized application/platform, if the hype isn't there, it won't be able to bloom. There is next to no marketing budget for OpenBazaar with how it doesn't generate any revenue on its own. It's free to use and there are no ways to monetize ad space (which is actually a good thing). OpenBazaar depends on everyone here to spread the good word and recommend it to any of your friends and family members. OpenBazaar is way too difficult for the average user to understand and the seller needs to be online for the transaction to take place. < or did this change with the latest software upgrades? > I have to admit, it has been a while since I used them, but my first experience was not very user-friendly. I would like it if OpenBazaar would stick it to eBay, because we need some competition in this space and we also need a solution with much less rules. PayPal represents the thinking patterns of a traditional Banking system and Bitcoin was developed to disrupt these kind of services.  |
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Thank you very much, I'll try doing that Even without it, Paymium told me that a withdrawal barely takes 2-3 days while the actual bitcoin transaction takes 30 minutes or so This is not Bitcoin's fault. You are once again dealing with Banks, when you convert back to Fiat currency and we know how slow Banks can be with inter Bank transfers. In my experience it usually takes 1 day when you request the withdrawal early in the morning and 2 days when you request it in the afternoon. < Banks have certain trading hours and exchanges sync their actions with them for Fiat transfers > The Bitcoin transactions is fast, because it is simply an internal ledger entry change within the exchange software, but when you transfer bitcoins out of their system to another Bitcoin address, then that transaction goes through the on-chain Blockchain and you have to wait for the Bitcoin miners to process that transaction. |
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This is a stupid idea, because it will only be a matter of time before someone figures out how to decrypt these files "offline" and then they will basically have access to all content on that site. If you have sensitive files on that site, these people will use that against you. Trust will also be a major factor, because you will have to trust a third party not to access your sensitive information before they encrypt it.
Most compression software out there have a built in encryption feature these days, like Win Zip/RaR/7-Zip etc, so why would you need to trust a third party with the encryption and also having to pay for that?
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People just find ways to make things easier for them. Take Zimbabwe as an example, they had hyper inflation in their country and the government started to print Trillion Dollar bills. Now, imagine what a nightmare that would have caused in their country, having to deal with such massive calculations. How much change do you give someone, when they pay you with a 1 Trillion Dollar note for a cup of Coffee? They also have a high percentage of illiteracy, so they just had to make a plan to make it work out for them. Some of them gave sweets for change and others just weighed the stack of bills. The solution for Bitcoin is that it is 100% digital and the QR codes is the solution for the lazy mathematicians. |
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I disagree. I bought bitcoins when the price was between $300 and $400 and I waited for a couple of years and then the price increased to $19000. This gave me a profit of over 800%, which is unrivaled in any other Commodity. Bitcoin was the Best Performing Currency/Commodity in 2016 and 2017, so it would have been wise to invest for 2 or 3 years, before you consider selling. People who are day trading bitcoins, might end up losing more money, than the person that bought bitcoins and simply hoarded it for years. In my opinion, Bitcoin is definitely a Long-term investment.  |
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