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i guess if you can accept the current enormous fee then it's fine yes, but not everyone is ok with the current expensive fee, bitcoin is not suitable for micro-transaction
which is hindering adoption for casual people that want to buy small stuff, and i'm not talking only about the usual coffee, but also many steam game that are on sale and very cheap can not be bought with bitcoin
because you end up spending 2-3 times more than their cost, which is retarded
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with a mesh network you can have a decentralized internet, or with a bitcoin-esque sort of altcoin, that other than a payment system function as browser, have a integrated browser in the client, can be seen as a decentralized netowkr
but still with ISP you are not completely free, it's still considered centralized, isn't ETH doing stuff like that with their decentralized platform?
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i have a different opinion on this one, for me a fair value is the one that allow miners to have their profit, any value that is below this threshold is not a fair value for the currency
also the one that say that the fair value is the one that the investors are willing to pay, could be true but it doesn't take into account the heavy fluctuations
the average that investors are willing to pay could be considered better as a fair value
The fair value of a currency (any currency) doesn't have absolutely anything to do with the cost of keeping the ledgers, neither with the cost of creating the money, nor with the cost of transferring the money. It just doesn't have anything to do with that. I recommend you to read the article. i know but here it's different, without he miners you don't have bitcoin, therefore if they don't have they minimum profit, you don't have a currency, which make me think by logic that the fair value can't be lower than the one needed for them to have their profit you can't compare it with fiat for example where there is no mining, and probably you can't compare it with gold either where mining is not that important, beacuse you can make gold from nowhere artificially That's also not true. If the price of bitcoin dropped, for instance, to 1 USD, miners would charge more BTC for adding transactions to the blockchain. Mining is a service which is payed in bitcoin units, as well as any other service that could be payed with BTC. Mining business profit doesn't have anything to do with the bitcoin price. But if you still don't believe it, you can read the article posted at the beginning of the thread. miners don't control fee at all, it's the user that decide, they just prioritize the transaction, but they must prioritize some transaction if they want to earn from fee, if they don't prioritize any because they think the fee should be higher, they would get nothing out of it, which is worse here mining is a crucial part of the bitcoin ecosystem, it's not somethigng that you can leave behind, there is no bitcoin without mining, and fee alone is not enough to sustain the network, and i don't think investors are willing to pay 3x or 4x higher than the current fee which is already very high also if the value go to $1 like you said, the fee would also suffer from that |
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if we can get above 3k, we can go to 5k, remember thta 3k was already touched, so it's not a mental barrier anymore, pretty much like it was for 2k
we touch it then we broke it and went to 3k, the same thing is happening, this market is not even that unpredictable anymore
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you are telling me that 0.3 btc with two gpu isn't that much are you joking? there is no coin that can give you that, and it's not instamining, i was mining for two days, the diff was low, because no one care about a coin that have no exchange
instamining is another thing, it's when you mine tons of block in few seconds/minute, this is earlymining...mining before the coin hit the exchange
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well the point is that you are not profitable for 2 days and crappy for 363, that is your assumption, it's more like you are profitable for 2-3 days with very huge profit, that you can not even dream about on other coin
and then for the next 2-3 weeks you just keep mining something else which is on par with what you are mining anyway, i consider those huge profit a bonus
and bitcoin planet is not a old coin, was released 1 week ago and was very profitable at launch like many other in the past, it's not even instamining, is earlymining waiting for exchange, these coin are always the best one for huge return
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i have a different opinion on this one, for me a fair value is the one that allow miners to have their profit, any value that is below this threshold is not a fair value for the currency
also the one that say that the fair value is the one that the investors are willing to pay, could be true but it doesn't take into account the heavy fluctuations
the average that investors are willing to pay could be considered better as a fair value
The fair value of a currency (any currency) doesn't have absolutely anything to do with the cost of keeping the ledgers, neither with the cost of creating the money, nor with the cost of transferring the money. It just doesn't have anything to do with that. I recommend you to read the article. i know but here it's different, without he miners you don't have bitcoin, therefore if they don't have they minimum profit, you don't have a currency, which make me think by logic that the fair value can't be lower than the one needed for them to have their profit you can't compare it with fiat for example where there is no mining, and probably you can't compare it with gold either where mining is not that important, beacuse you can make gold from nowhere artificially |
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I guess this gives people a reason now to adopt Bitcoin, for tax evasion.  I mean, they also have no way of tracking down Bitcoin movements in and out of the country right? I don't see how they can tax on every Bitcoin transaction. Even if US wanted their citizens to declare their Bitcoins, who would? Glad that Bitcoin is gaining recognition, and now Bitcoin may be used by large companies or billionaires in the near future.  You dont get it, by declaring it a currency it gives the government an easier time and a clearer perspective on what to do if they think a BTC user has allegedly broken some laws. This is also just the beginning. BTC as a currency is easier to regulate. If you think that their government have no way of tracking BTC movements, you are wrong. well they have no way if i buy stuff abroad, because they never know that i bought that thing unless they come here at my home, which is stupid and will never happen the onyl way they can track you is when you reveal your identity by buying on a various shop online, with your address and everything I guess this gives people a reason now to adopt Bitcoin, for tax evasion. I mean, they also have no way of tracking down Bitcoin movements in and out of the country right? I don't see how they can tax on every Bitcoin transaction. Even if US wanted their citizens to declare their Bitcoins, who would? Glad that Bitcoin is gaining recognition, and now Bitcoin may be used by large companies or billionaires in the near future. i guess it's not really tax evasion if it's declared tax free isn't it? you don't need to pay that is the new law, so you are not evading, this give peopel an incentive to adopt bitcoin, maybe they will add tax later when they see the usage increase remind me of a marketing strategy, where soem company first offer you free stuff just to attract you as a customers and then make you pay more than before... |
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well bensam with spreadcoin you make more than whattomine coin, it's no secret, with the private miner i'm doing 16+Mh on a 1080ti its not like nvidia don't have a better option anyway, who mine eth with nvidia...
lol... The new kids decided to squak about most of the niche algos, so those are off the table. You can earn more mining equihash then those algos. People don't understand how nvidia mining works, it's all niche and as soon as you talk about that niche it's gone. Matter of a fact, most of the ones I know about are earning a $1 less per day then equihash. But that aside, you can earn more then equihash mining eth+dcr... but I'm sure you know that because you've entered all those numbers in. Eth+dcr is currently earning $4 compared to $3.53 with equihash on a 1070. Yeah, so no... We're back to square one... which is equihash. Nice everyone always mentions how much nvidia makes on niche algos... but they don't, not anymore... Wow it's like something I mentioned over the last couple months about how insanely volatile and easy to saturate niche algos/coins are. Ah, but I'm sure you bought a bunch of 1080/tis because they're amazing! so now you're fucked and can't mine ethereum+anything and are stuck on equihash anyway. I can see why you're lamenting about 'nvidia mining lowly ethereum', but you know... What a stupid and useless comment. Fortunatelly i dont have to mine eth+dcr with a 1070, because those shit and easy to saturate coins you talk about can be mined longer than you think. not only that but those niche shit coin, are always coming, i mean there always a new shit niche coin to mine, they never end so you have a infinite more profitable opportunity than whattomine, last one was bitcoin planet, made 0.3 in 2 days with only 2 x 1080ti, just an hint... |
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ico are the most remunerative now if you can invest a tiny % you can get an idea, try tezos, is a new ico and look very promising, dev behind is competent
otherwise the only rosk free is mining altcoin, never lost anything there and made tons of btc with pow coin, you can always sell back your gpu
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no altcoin are a quick way to get rich, in fact by holding the correct oen you can increase a lot your amount of bitcoin even 100x, by just holding bitcoin you need to wait for the pump
and even so you are only increase the amount in fiat and not your, bitcoin numbers, unless you do trading but that kind of trading is more risky than simply investing in cheap alt with a great chance to increase
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What is supposed to mean, maybe they would adopt it but it is already hot in Korea. I would see a lot of people cry, because bitcoin already so high and no one expected to go higher.
well uh it mean that you can use bitcoin as a currency like in japan, which is huge because it open the door, for more adoption, everyone would try bitcoin now without fear their government in fact it was never illegal to beign with, it was not regulated, currently bitcoin is illegal only in few country like bangladesh, all the other just need to regulate |
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its not like nvidia don't have a better option anyway, who mine eth with nvidia...
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Simple: Bitmain and Roger Ver have stopped spamming the network. If you look at the mempool graph it was clear it was just another attack by the big blockers to bitch and moan about high fees and confirmation times.
Just wait for the hardfork drums to start making noise again, they will turn their spam machines again to try to force support for their altcoin
But what made them switch the bots off? It kinda looks they might be preparing something really nefarious and nasty, even nastier than what we have seen so far. What is the logic behind their current actions? As to me, it would make sense to put more pressure on the network as the Judgment day draws nearer. But obviously, it is not that simple, and they may be up to something frightful. I will never believe that they have changed their mind, all of a sudden, so what could we expect next? The funds that were used to spam the network are now being used to organize events and to pay developers to work on the new "solution" or the funds simply ran out If it were miners behind these waves of spam, they wouldn't be paying anything the theory that say that behind the spam there is a chance that miners are making it, make sense , because by spamming they force users to pay higher fee to have their TX prioritized over the spam basically miners are paying for the fee increased, they invest in the spam to have higher fee and roi on their same spamming....this may sound awkward, but it could make sense |
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it's called volatility because it can not be contorlled you know, otherwise, it would not be volatile, the value is not controlled by any one, it's just a random combination of supply and demand
manipulation is another thign, is when the value is being driven forcefully to a certain direction, and you can easily see that, with the 2013 pump and dump for example
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They really have the power to control Bitcoin, even traders that are involved in other assets can influence such price. Much more for a currency that is decentralized the whales which are the biggest profit takers during a price action will benefit it all. Traders can actually influence the price in both ways from up and down, they can pressure the market in buying higher prices and they can make sellers sell Bitcoin at lower prices.
traders alone don't have the power to contorl this current market, maybe this was true in the past, when bitcoin was tiny, now it's different on the other hand a group of whales can stil control a single exchange, not the whole market, but the influence of a single exchange being controlled can have consequence on other exchanges |
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easiest way to check if you have an hashnest account go to the wallet tab and hit deposit see if you can see the popup message, easy Icon that site was acting fishy lately, i can't even access it anymore without getting numerous warning from my antvirus, also my account there was several times attacked by unknown russia hacker and other chinese hackers i don't think it's safe anymroe to have an hashnest account, not that it matter it was not profitable to have any hashrate there |
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there is no secret, there is only simple way to do it, either you do it with a simple usb stick and put the wallet there, or you buy a trezor and secure your private key, or you can also use your brain and memorize the private key
this last method is a bit risky if you forgot the private key you are fucked, but it leave no trace outside, in case someone want to rob your trezor and force you to reveal the private key in some violent way
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miners will not destroy their own business, in fact this already happened in the past with a pool contorlling 51% of the hash, but they just shifted the hashrate to other pool and everythign resolved
chinese also know this, and it's the reason why there are many big pool in china that have a levelled hashrate
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