This forum is a treasure trove of information. The definition of a treasure trove is a collection or store of valuable or delightful things. Just take some time and look at the quality of some threads and post on this forum and you will see that it is a one-stop solution for most of your questions on Bitcoin and also Alt coins. This forum even include original posts from the creator of Bitcoin, Satoshi Nakamoto. In many ways this forum is more like a time capsule.  |
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Why would this decision be any different to the Winklevoss twins outcome? The main gripe with Bitcoin ETFs according to them, is the threat of manipulation and I cannot see why this has changed? I think this delay in the decision does not bode well for these applications, because an extension gives them time to prepare for a denial of the application and to properly motivate why they denied it. ^grrrrrr^ The SEC is just buying time to give silly excuses for their denial of these ETFs.  |
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The only bitcoins that are supposed to be on paper, should be Paper wallets and not some "copy cat" fiat version of paper notes. The idea for Bitcoin is to be digital and if people do not have access to the internet, then the community should rather address that issue. <Developing ways for Bitcoin to run on cheap mobile phones>  We want to improve on the limitations of old paper money, not replace it with something that are the same. |
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Unfortunately not everyone agree that Crypto currency related regulations are bad. If you run a legitimate business and you want to accept bitcoin payment, then you have to adhere to the rules and laws of your country and there are also some tax implications. If they want to keep their doors open to the public, then they have to adhere to these rules. In the end, they have to report to the government at the end of the tax year, and if Bitcoin was banned in their country and they accepted it as a payment, then their business will be forced to close their doors. |
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If you look at the graph, you see that the bigger the exchange, the bigger the drop in the price in the month after the hack. The last two exchanges on that chart, did not even show a drop in the price after the hack and the price even increased. I think the amount that was lost, has a bigger influence on the price, because it gets more media attention. <bad publicity> Some of these hacks was not even just bitcoins, but a mix of Alt coins, but it still had a negative impact on the price. |
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When the price drops, there are many bad comments coming from different directions. The Newbies are most affected by this. Because if someone wants to invest, they are lagging behind for those bad comments and they are afraid also. Is this reason their Confidence Level is not low? I think we should stop our bad comment about Bitcoin. We will also benefit from this.  You ever heard about "Freedom of Speech" before? People are free to express their opinions and to debate and analyse events. It is in this debate where the answers to problems are found. Sometimes you need harsh debate and even some negative comments to change a situation. You cannot keep Bitcoin in cotton and expect it to survive. It is the small battles that we are fighting now, that will eventually lead to us winning the war. |
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I am very curious on why the American public has not insisted that a full audit must be done on the actual Gold that are stored in Fort Knox and other secure places in America. They blindly accept that there are lots of Gold stored in the vaults in Fort Knox and all over America. The government has no right to withhold that information, but the public is not demanding it.
Why?
1. They know that if this is true, their economy will PROBABLY collapse?
Indeed. Since the dollar is tied with gold and the US government claims to have the equivalent of each dollar in gold then the price will easily collapse once someone will leak a video about how catastrophic the situation is in Fort Knox. I consider the USD untrustworthy since 70' when they suspended its convertibility into precious metals. Damn, I never thought that there are still people who think fiat currency/dollar price are tied to Gold. The US Dollar has not been linked to Gold for the last 45 years, since president Nixon abolished that in his term as president. The only link to the Dollar is that it is mainly traded in US currency, so a weaker dollar makes Gold less expensive for other countries to buy it. So it is important for the US government to protect the dollar price and a shock like this, will definitely influence the dollar price and the Gold price, if this Gold did not exist. <If they say it is there and it is not, then they are messing with the supply> I was just thinking the same thing. The dollar is its own boss. It is whatever the Fed says it is. I thought that a weaker dollar tended to make gold more expensive as investors look to it as a hedge. When the dollar is strong, investors prefer it over gold as it yields interest, whereas gold does not. So in addition to a higher value they can gain a few percent on the interest rate. They're probably messing with the supply, just as the do by establishing futures contracts. To be honest, because of the massive amount of "invisible" gold created by futures contracts, I'm not sure that the existence of this gold in Fort Knox would have that big of an influence on the price of it anymore. Other than of course giving gold bugs a good reason to buy more. It becomes a problem if they are using that Gold to manipulate the Gold price. They might be siphoning off some of that Gold or simply moving it around to artificially pump the price and then trade with this on open markets. In essence they are cooking the books and doing something else with the assets. The thing is, nobody will ever know, because it is a highly controversial issue and the government is guarding that secret more than they are guarding their nukes. |
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Yes, I also saw this. It is just a pity that there are no followup story on what happened with them after that and if they are still living on a campsite. OP's story sounds a bit far fetched, because there is no evidence to back up his story and it would have been a huge risk back then, because bitcoins was "enemy #1" in those days and nobody in their right mind, would have done that with the lack of regulations. Source or it did not happen. |
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it's August 1st... congrats to all wagering and referral contest winners!! it seems the contest is here to stay until wetsuit decided otherwise  btw, anyone we know active in this forum a winner of referral contest? It's still a promotion rather than a permanent feature so 'it'll run until it doesn't' is the best way to look at it. I very much doubt that any of the leaders are on this forum or that they would wish to be identified if they are. ~~ I'm pretty pleased with this. The wagering competition element was my suggestion after wetsuit came up with the referral competition and I was a bit nervous it would be a flop. We had some pretty competitive action all down the leaderboard and the totals are impressive compared to other sites. I am just curious, can you guys see if the winners are actually making some profit from this or if they lost more than what they gained or are you not too worried about that? You do not have to release actual numbers, but I think it would be reasonable to assume that some of these participants are losing a lot of money too? In any case, congratulations to the top 10 power users of Freebitco.in  |
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Do not underestimate people from 3rd world countries, because they might be smarter than you might think. Let's take Kenia for instance, they have been using M-Pesa <A digital centralized payment network that are running on mobile phones> before Bitcoin even existed. Also, when the need for something becomes essential, you are forced to find ways of getting or achieving it. You will be amazed with the stuff these people are doing to survive and they doing that with the minimum means available to them.  |
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I am very curious on why the American public has not insisted that a full audit must be done on the actual Gold that are stored in Fort Knox and other secure places in America. They blindly accept that there are lots of Gold stored in the vaults in Fort Knox and all over America. The government has no right to withhold that information, but the public is not demanding it.
Why?
1. They know that if this is true, their economy will PROBABLY collapse?
Indeed. Since the dollar is tied with gold and the US government claims to have the equivalent of each dollar in gold then the price will easily collapse once someone will leak a video about how catastrophic the situation is in Fort Knox. I consider the USD untrustworthy since 70' when they suspended its convertibility into precious metals. Damn, I never thought that there are still people who think fiat currency/dollar price are tied to Gold. The US Dollar has not been linked to Gold for the last 45 years, since president Nixon abolished that in his term as president. The only link to the Dollar is that it is mainly traded in US currency, so a weaker dollar makes Gold less expensive for other countries to buy it. So it is important for the US government to protect the dollar price and a shock like this, will definitely influence the dollar price and the Gold price, if this Gold did not exist. <If they say it is there and it is not, then they are messing with the supply> |
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The highrollers are getting all the spoils. The guy in second place in the wagering contest we were talking about yesterday did all that betting on a 2x reward weekend. That means he got 37,651,596 reward points and can not only get an iPhone X but a Samsung Gear VR and whatever else he wants. What do you actually think the point of having a reward system is? Who do you think the big Casino hotels give out free rooms, free drinks and the rest to? I don't think it is the guys that turn up with empty pockets and never gamble their money. Yea, you are once again 100% correct. Lucky for them, Wetsuit thought about them and gave them a chance at the $25 EGIFTER GIFT CARD @ 333,333 RP <This will only take 45 years, so many of them might see that in their life-time> Hey, my local Brick n Mortar casino gives 2 x Movie tickets for the first 200 people who gamble more than $500 per day at the casino and the people are flocking to the casino to get this. <They would have spend that in any way, so they just want to get that small extra gift for the money that they would have probably lost> Most expensive Movie tickets they might have bought, but they are still doing it. |
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Why would people trust government controlled Crypto currencies, more than Fiat currencies?
Beats me. The whole reason bitcoin was invented was to circumvent government control. The funny thing about the oil "backing" this coin is that it hasn't even been dug out of the ground yet, and its only hypothesized that its actually there. Exactly, and this is actual proof that this is just another reason why you should never trust these so-called GovCoins. I think Satoshi must cringe when he/she sees what these governments are doing with his/her invention. I think the Venezuelan people are better off using the fiat currencies, than these fake Petro currencies, because it is absolutely worthless to back a currency with oil that they will never see in their lifetime. |
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I just ran some numbers on one of the rewards --> APPLE IPHONE X (256 GB) - require 16,186,667 RP Imagine you can do the FREE roll about 10 times a day and you receive the standard 2 reward point per roll, then it will take you 809333 days or 2217 years to collect enough reward points to own a brand new APPLE IPHONE X So your average faucet user that is using the faucet 10 times a day, will never see these bigger prizes. Agreed, this will decrease with reward bonuses and if you use that money to gamble and you get the odd 1 rp here and there for every 500 Satoshi you gamble, but it is still definitely out of reach of these people. The highrollers are getting all the spoils. |
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You know the reflashing of the firmware is a daunting prospect for a lot of non-technical people and even challenging for people who know what they doing. I am very technical and I struggled with the last firmware update, because Ledger's last firmware upgrade was chaotic to say the least. Your answer is spot on, but the resolution suggested might do more than harm for non-technical people. As a precautionary measure suggestion from HCP is only safe option, or OP just can continue to use device and hope that everything is fine. To wipe device and reflash firmware should not be problem, there is step by step instruction how to do it in a safe way with notice that seed need to be saved before any attempt of updating firmware. There is no problems with last firmware 1.4.2, but with the previous version which required MCU update and there is some drivers problems on Windows 7 ( which I personally experienced ). I think for anyone who has serious intentions to work with cryptocurrency following these instructions should not be a problem : Update Ledger Nano S firmwareYou are probably right, but you tend to forget that the ultimate goal is for everyone to start using these devices. <This includes a large amount of people who are not educated in third world countries> I got a 78 year old lady to open her first online wallet a week ago and that was a daunting task, I cannot imagine a scenario where I have to teach her how to do a firmware upgrade on a hardware wallet.  My point is, this should be made a lot easier for the average Joe to be able to do this, not just for techno geeks like us. <We do not want these people to store their coins on third party online wallets and exchanges> |
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The positive vibe among investors was sparked by the possibility that the SEC would finally approve a Bitcoin ETF. Some people figured that it was going to be the event that would trigger the next spike to a new all time high, like last year. Unfortunately the SEC denied the Winklevoss application for a second time, so that "trigger" is lost now. <To be fair, they postponed the decision process, but the vibe is gone now> You will see a small correction below $8000 now, as a result of that. |
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many countries allow gambling, liquor,tobacco,horse racing then what is the problem with crypto currency .while it is related to advancement to technology and more secure and reliable system specially for banking system.
You cannot compare, gambling, liquor,tobacco and horse racing to Crypto currencies like Bitcoin. A lot of these governments see Crypto currencies as a threat to their local reserve currencies and their control over money supply. A lot of people are also using Bitcoin for illegal activities, but they are more than willing to ignore these illegal activities when it is done with Fiat currencies, but when Crypto currencies are used, then a BIG thing is made about this. They are scared to lose control, so they ban whatever is posing a threat to them. |
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Can't say I've heard of that before.
However, from what I've read of the security added to prevent the issues that were highlighted by Saleem Rashid earlier this year, there is only a limited time period for the device to complete it's self-checks. If it doesn't complete within the specified time frame, it will show as "non-genuine". The theory being that any extra work that a malicious firmware needs to do to try and fool the checks would take too long and it will fail.
So, it's possible that the first time you did it... the device was just a bit slow and the "timing" protection kicked in and that is why you had the "Not Genuine" message displayed. Whereas, when you replugged it, it was fine.
Maybe contact Ledger support and ask them?
But, if it were me... I would wipe the device, reflash the firmware using the Ledger Manager and then re-setup the device using the recovery seed.
You know the reflashing of the firmware is a daunting prospect for a lot of non-technical people and even challenging for people who know what they doing. I am very technical and I struggled with the last firmware update, because Ledger's last firmware upgrade was chaotic to say the least. Your answer is spot on, but the resolution suggested might do more than harm for non-technical people. |
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I newly started working on some airdrops project. It is obviously tokens for doing nothing but i think its sometimes its really irritating getting notifications all the time for such less amount.Is there any better way to do it
Are you saying that you are working on airdrop projects, where you are launching them or participating in airdrops? It is not clear what you are asking. Yes, it is irritating to get messages about the latest airdrop, if you see how small the amounts is that are being airdropped, so most people just ignore it. The people launching these airdrops are better off, creating a faucet and distributing set amounts of their coins, like Bitcoin started in the early days.  |
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Why would people trust government controlled Crypto currencies, more than Fiat currencies? The only reason why this currency was developed, was for their government to bypass US sanctions, because they know the US cannot control or stop decentralized Crypto currencies. The latest trend, seem to be Asset backed Crypto currencies, but the question is, who controls the assets? The people in Venezuela, should seriously reconsider, if they want the same government that destroyed their local currency to control their local GovCoin. |
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