Shorting in progress ...
So by now I guess you are out of your short, am I correct? Some of you have got it wrong. Instead of going short you should be making buy orders. If you really do your research on Bitcoin you will realize its true potential has not been reached yet. You all lack belief. |
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This is the largest number of unconfirmed transactions in the history of Bitcoin. https://blockchain.info/charts/mempool-countI want to ask one thing. What is really causing this? I know that there is no sudden increase in Bitcoin users large enough to cause this. There are some Legendary members here that imply there is someone who is spamming the network and they are pointing to some people who were involved with Bitcoin from the very beginning. Are they only rumors or true? Even a small shortage of super-important asset can cause a huge-mega-spike in prices. For example around 1975, during oil price shock, the actual shortage of oil according to various rumors were only 3%, yet the price spike was 20x times (2000%). Why ? Because oil is a super-important item everyone needs. So is water, and Bitcoin transactions. Even a 5% shortage in block size vs natural demand and user growth, accumulated for several days will cause a huge mega spike in transaction fees (and mega-massive delays for those users, whom set standard fees) That is a compelling argument. So what are you saying? This constant barrage of spamming in the network is being caused by someone who has a profit motive instead of a political motive? The spammer does spend a lot in fees by slowing down the transaction confirmations. Maybe it could be true but who would be doing this? He or they are risking so much here. |
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It is things like this that make me support Core and Segwit then later the Lightning Network as a scaling solution for Bitcoin. Roger Ver sounds like a nice guy in interviews but he likes to play dirty. That I can understand but it is not something I would want to do myself to gain an advantage. That is what dirty politicians would do.
On a lighter note, now is the time to register nullc usernames on Reddit like nullcisback or nullcbiatch and then start trolling /r/btc.
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This is the largest number of unconfirmed transactions in the history of Bitcoin. https://blockchain.info/charts/mempool-countI want to ask one thing. What is really causing this? I know that there is no sudden increase in Bitcoin users large enough to cause this. There are some Legendary members here that imply there is someone who is spamming the network and they are pointing to some people who were involved with Bitcoin from the very beginning. Are they only rumors or true? |
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Just sold my trading stash. Price is climbing too fast. Short positions prepared at 1140 USD. Lots of them...
I am afraid of this. The truth is you are not the only one who is thinking of shorting. There are a lot of Bitcoin traders who are very aware of the price approaching resistance and the anticipation that the ETF might be denied next month. Here is the good news. If there really is a dump coming then it will be another good time to make low bids and hope they are hit. I am always in the mood for buying at a bargain. |
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I think bitcoin is not really made or launched for that purposed to be a payment methods on some shops.The main reason bitcoin is launch and made is for the creator and developers to earn and make money online and not intended to be one of the main currencies around the world.so for me i think its not
Are you trying to tell everybody that Bitcoin is like an altcoin and therefore a ponzi scheme? I know you can think of an argument in saying that Satoshi has a large amount of mined coins before the network became popular so he might have some intention of becoming rich. But the developers, can you tell us the process how they make and earn money with their contributions? |
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I don't see any problem with users who don't know bitcoin and wants to use it. I am sure that they will learn about it when they need to use it. It's like a necessity, when we need bitcoin to survive in the future, then we can learn how to use it.
Back to your question OP, I think most of the professionals right now, even ordinary people has knowledge on how to use computer.
Very wrong and a very dull comment. How is Bitcoin "like a necessity" and how do you know that Bitcoin will be needed to survive in the future? Bitcoin is far from being a necessity. If Bitcoin was not convertible to fiat money none of us would be here to have an interest of knowing more about it. We are here because it can be exchanged for fiat. In that situation, what is the necessity there? It is fiat. |
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This is not new anymore and as the years goes by bitcoin transactions are increasing which causes for this many unconfirmed transactions on the network which causes the delay.
It may not be new anymore, but 81,000 is the biggest lag I have ever noticed since I started collecting Bitcoins. I am not a conspiracy theorist, but we need to analyze the reasons behind this.I have read many comments here that are from people who use Bitcoin who are still unaware of the situation why the unconfirmed transactions issue keeps recurring. There is a need to either activate Segwit or to hard fork to Bitcoin Unlimited or other implementations that increases the block size. Whenever this issue arises it will all go back to the scalability debate. To complicate matters, some Bitcoin users are saying that there is someone spamming the network. |
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...
As I write there is another huge number of transactions in limbo.
Time to solve this problem, guys (lead developers). Shape-up and fix this.
I grow somewhat disenchanted w/ BTC, even w/ paying higher fee (when I can) or w/ acceleration.
They already have a solution. It is called Segwit. Thanks to politics and self interests of the people on top of the food chain it will never be activated. What you should be doing is tell the miners to shape up and make a move. Segwit or Bitcoin Unlimited? It is time to make their pick. Maybe they have other plans and will drag this stale mate for years. |
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Bitcoin is usually used by people interested in technology. I mean, persons with a certain technical knowledge are interested in bitcoin.
My observations are that way. I think Bitcoin needs to reach larger quantities. Can use bitcoin in people who are not interested in technology?
Can people use the bitcoin in the profession group like tradesmen, teachers, housewives, firemen, butchers? Are we going to see the days that these people use bitcoin?
i am sure that bitcoin can be use for people who are not interested in technology, maybe they only want to save their bitcoin in their wallet and don't interesting with trading, gambling or other. and if this is what they do, i think they are missed something that they can grow their bitcoin from many ways and we can see in today that many people is using bitcoin for many thing but we don't know what is their real purpose because no one will said the true what they want to do with their bitcoin. i can said this because i have a friend, which only save her bitcoin in the exchanges and not doing anything because she said she don't have a time to do the other thing with her bitcoin and she said its better to save it in the exchanges so she can sell it for quick if the price is high like now. That is not how an ordinary person uses Bitcoin. What the OP was asking was if a person with a regular life could use Bitcoin in his life or not. Holding, trading and gambling are things that the typical Bitcointalk forum member would do with their earnings from signature campaigns because those are really most of the things you can do with it. Try buying an orange in the grocery store with Bitcoin in your area. Come back here and tell us about your experience. |
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What was the actual cause for creating bitcoin? And for whom it was meant to be?
Any facts or thoughts?
Bitcoin was created to give financial freedom or to start p2p (peer to peer) payment gateway with very low fee and without any central body to process, block, investigate the transaction. Privacy on paying online is the main feature bitcoin have so it is built to giva a way for the people to spend their money whenever and wherever they want to spend it.  I agree. Now about the second question, "for whom?" Was it really meant for a common man too? Or just for the people with lot money and who don't want to pay taxes or involve a third party or even don't want to let anyone( or government) know about the sources or amount of their income etc. Who knows Satoshi could be hired by a drug lord or a mafia king to make this and everything what we see is just only what they want us to see. Are you really serious with that thought? I could accept that it could be created by someone in the NSA, CIA or DARPA but drug lords and the mafia? There is too much harebrained thinking in your comment. For you, did it come to mind that the main reason for the creation of Bitcoin was to disrupt the banking system and not to hide wealth from the government? |
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Any working class person can have access to bitcoin, even if they are not too technologically-inclined. There are now Bitcoin ATMs, which works like a regular machine. We must not also underestimate the power of technology, which now caters even to those who are not tech-savvy. Even older persons who are in their 60’s use mobile phones and go into social media, so I don’t think the learning curve would be too much for them to learn something like using bitcoin, just as long as it doesn’t inconvenience them and it gives them a lot of benefits.
What will the ordinary citizens use them for? Buy items they like online? But they already have their credit cards, cash and other ways and methods to buy online and also offline. There will be no need for them to use Bitcoin. Then also take the inconvenience of buying Bitcoins. It is very much easier for them if you they did not know anything about it. |
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How did the early islanders determine the value of goods? They said... listen chap, gimme 3 shells for 5 eggs.... the same will be applicable to Bitcoin. I will give you 200 Satoshi's for 5 eggs .... How does that sound? We do not need fiat currencies, if all commerce are done in Bitcoin. The people will decide it's value, like they did in the early days.  Why are you trying to post in break line? Are you trying to hide something? Anyway yes it can be done that way. In the past the conquistadors did trade with the islanders they came across with. They took advantage of them by trading their small trinkets for more valuable items like gold and spices. Thanks to the internet no one can take advantage of us anymore by trying to scam us and try steal our Bitcoins. Wait a minute. That felt wrong. |
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Right now we determine the value of bitcoin by dollars, euros and other currencies, but if we remove all the currencies and use only Bitcoin how we can know what is the value of Bitcoin?
Do we need to use MBTC then?
I asked the same question quite a while ago and I did not get a satisfying answer. Although one person said that if there was no fiat money as a determinant, we as a humans tend to attach the value of something to a commodity. If there was no fiat money, there is gold. If there is no gold and precious metals, there is the value of livestock or grains. It never stops. |
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Why not... Everyone can learn it when it is necessary to use bitcoin. if it could make their transactions easier, I don't see any hindrance that they can't learn how to use bitcoin... Don't forget that before, we don't know how to use cellphone, how to use computer, but due to the reason that we need it and it is necessary, we started to learn how to send text messages, and to send an email... So I think, same as in bitcoin, if they found it useful in the future, then they can learn how to use it...  It is easy to say "Why not?", but then why is Bitcoin still not used by the masses? It will take more than learning to make everyone use Bitcoin. First there has to be a need. If there is no need then why use it? That is very from your "Why not?" type of thinking. Saying "Sure why not?" shows your lack of understanding of the situation Bitcoin is in. |
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Bitcoin was just design as payment system, it's not a currency as it will never be considered as one in the eyes of the government. As payment system, we rely solely on fiat to determine it's value and with it's system that could give us fast and cheap transaction, it would help the humanity who would adopt to get the experience of convenience and cheap transaction fee.
The investment side is just an extra since it's based on a limited supply, we can take advantage of the huge demand in the future if we will invest now.
What are you talking about? How you think Charlie Shrem got into prison? There are also other same cases reported where the judge has declared Bitcoin as a currency and charged the people involved with running an unlicensed money transmitting service. I know the legal definition of Bitcoin is still open but saying it will never be considered as a currency is wrong. |
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ehm...microsoft dell an other isn't something new , actually it's a pretty old news
mercedez sounds new to me, in fact searching on the web i can't find anythign about them accepting bitcoin, i just found that they are going to buy a bitcoin business
they are buying paycash which use bitcoin as a meant of payment, this is the correct news about it, they are not directly accepting bitcoin...
That is really better news than just accepting Bitcoin as payment. Payment processors are the infrastructure that bridges Bitcoin to fiat and fiat payments. When a big company like Mercedes wants to get in on Bitcoin thru a business that is fundamental to its economy then we should expect brighter days ahead. |
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Richard Branson of the Virgin Group is the first name that came in my mind when I read the thread title. There was an interview where he said that Bitcoin is working. Some of his businesses are accepting Bitcoin payments I think. He also organized an invite only summit on his island, yes his own island, and many who were invited where dubbed the Bitcoin Illuminati.
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So I saw many threads on will bitcoin be used by common people or when it will be used by all over the world and for buying groceries etc.
But I wonder, was bitcoin actually meant to be used like that? What was the actual cause for creating bitcoin? And for whom it was meant to be?
Any facts or thoughts?
Bitcoin was meant to be a censorship resistant, decentralized, value transfer network. I means we could take the banks out of the whole process and we could live our lives in freedom from the banks. Does that also mean we could use it for buying and selling regular stuff? Sure it can but there are complications. It is slow and it takes a little learning process to use properly. But I know where it can be used well and where the people are using it in the proper way. The Dark Markets. Those markets are online and they are very inefficient and Bitcoin is filling the cracks very well. |
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Bitcoin is usually used by people interested in technology. I mean, persons with a certain technical knowledge are interested in bitcoin.
My observations are that way. I think Bitcoin needs to reach larger quantities. Can use bitcoin in people who are not interested in technology?
Can people use the bitcoin in the profession group like tradesmen, teachers, housewives, firemen, butchers? Are we going to see the days that these people use bitcoin?
Not with the current state of Bitcoin. Copy pasting the addresses, double checking them if it is correct and then waiting for an average of at least 10 minutes to get 1 confirmation with a little fear that the transaction might not go thru is not an attribute of a good payment network. Maybe if a Lightning Network service was created with an easier interface of making transactions like something as easy as email then it could. Bitcoin will become a settlement layer and maybe in some interfaces the users do not have to bother knowing that Bitcoin was really used underneath. All they have to do is spend spend spend. |
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