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I was blaming the institutional capital for this, until I read the news of the MtGox trustee that have been dumping large amounts of coins to recover some of the money that are owned to their creditors. This might be one of the primary reasons why we are moving between $10 000 and $11 000 for the last couple of months.
As soon as the price increase, this trustee dumps some coins and the price goes down again. This explains the less volatile price for the last 2 months. ^grrrrrrr^
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Yesterday the news broke that the trustee of the MtGox fiasco, has started to sell large amounts of bitcoins and Bitcoin Cash to recover some money to pay out to victims of this incident. These creditors will receive more or less $400 per bitcoin lost.
Now my question is, how many of these people will re-invest that money into Bitcoin again after they have fallen victim to this supposed hack?
If you go back to that time, you would remember the negativity and anger that was expressed, after these people realized that their money was gone. <I do not blame them at all>
We have lost a lot more than people who lost some money, we gained a lot of haters and people who turned against this technology, because of that event.
Once bitten, twice shy?
If you were a victim, please give us your story or even if you were not a victim, what would you do?
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A lot of the developers were saying that his original code was very sloppy and that most of his original code were replaced over time. I think the most important thing was that it worked and that tweaking of that code was inevitable. Unfortunately he abandoned the experiment, when Gavin reported to him that he spoke to the government agencies. I am curious to know what Satoshi is thinking at the moment about all these changes that were done to his original code.  I don't think the codes was really tweaked as the claim because if it was, any coder can easily input hidden codes in it. But if truly it was then Satoshi definitely may not like it. Nobody like their original work to be altered without permission even though its for the best. Even if he likes or dislike it, he can't openly come out to say the need since he has remained anonymous in this forum and the whole world. The code is Open Source, so you do not need permission per se, to do that. If your submission is good enough to replace the original code, it will go through Peer review and if it pass that, then it will be added. The Peer review process will also identify any "hidden" code, before it gets added to the code. A lot of the developers were saying that his original code was very sloppy and that most of his original code were replaced over time. I think the most important thing was that it worked and that tweaking of that code was inevitable. Unfortunately he abandoned the experiment, when Gavin reported to him that he spoke to the government agencies. I am curious to know what Satoshi is thinking at the moment about all these changes that were done to his original code. Isn't Gavin the one who created Bcash? just after his chat with government agencies No, he took over from Satoshi and he was lead developer for a while and then the kitchen became to hot to handle and he dropped out. Some time later, Mike Hearn and Gavin started Bitcoin XT and that failed miserably and Mike went on to work for a group of Banks. Gavin is still around and presumably supporting BCash or anything that are the opposite of what the Bitcoin Core team are doing. ^lol^ |
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In a Recession, people will always look for some "Safe haven" for their wealth. They usually buy Gold and other precious metals to hedge against a drop in value of other investments. Bitcoin has been seen as a good store of value, but it is very volatile.
Also in a Recession, people tend to have less money available to invest, so the price & adoption will go down and this will cancel out any investments that might have been coming from people who wanted to use Bitcoin as a Safe haven.
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Also make sure that you selected Bitcoin <BTC> and not Bitcoin Cash, because they added Bitcoin cash a while ago and that might be a bit confusing for people who did not know about that. I think they even added Ethereum too, so you must make sure that you are selecting the correct coin.
I doubt that they implemented SegWit, but I will have a look and edit my post, if they added that.
I hope this is helpful. ^smile^
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A lot of the developers were saying that his original code was very sloppy and that most of his original code were replaced over time. I think the most important thing was that it worked and that tweaking of that code was inevitable. Unfortunately he abandoned the experiment, when Gavin reported to him that he spoke to the government agencies. I am curious to know what Satoshi is thinking at the moment about all these changes that were done to his original code. |
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Recently I discovered that you cannot sign messages in SegWit address... Technically you can sign, but it cannot be verified. Some wallets, like ledger, let you sign. But they will sign with a Legacy address, even if you are using a SegWit wallet. Really weird. I even started a discussion about this https://bitcointalk.org/index.php?topic=2885058For me this is a serious matter because I will lose many airdrops =/ Jesus. Just another reason to stay off of Segwit. If this is correct, 25% of all BTC that has circulated since the Segwit fork don't exist on the new BTC forks. Honestly, I suppose this would increase the scarcity and thus the value or forked coins. But anyone using Segwit is screwed out of their shares! This is wrong. SegWit addresses can be signed. The problem come in with different wallet providers that are using different formats of SegWit and tools to verify the signatures. Example : A few days ago, I signed an address with my Ledger and they use Nested Segwit (starting with 3). The other person used a tool provided by Brainwallet that verify bech32 addresses (starting with bc1) and he could not verify that. This is causing a lot of confusion and frustration, but hopefully things will sort themselves out as adoption of the technology increase and some kind of standard are chosen or more tools with more formats are developed. |
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You can see that these rich people move in the same circles. I think the rich bankers of the world are busy talking and influencing the richest people in the world, with the largest following to scare people. These people are easy targets for them, because they can baffle them with bullshit.
Remember most of these people like Bill Gates and Warren Buffet has no idea what Bitcoin is. They are so busy with their foundations and businesses that they have very little time to do some research on their own. They rely on their advisors to formulate their knowledge on the subject.
Bankers know this and they will most definitely infiltrate these people to be able to brainwash the celebrities, like Bill Gates and Warren Buffet.
*Taking tinfoil hat off. ^smile^
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I never knew Warren Buffett was a fortune teller? Did he look into his little crystal balls, to predict the future?
Warren Buffet, like most other old-school fiat supporters, made their wealth through the old financial system and that is where their expert opinion should stop. Bitcoin started in 2009, so his broad knowledge on this subject cannot be defined as expert knowledge, because he has none.
The guy is in his 90's ffs! Did you expect him to applaud some technology that it disrupting the financial system he knew for most of his life?
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Some government has already banned bitcoin but they never could stop.people from using bitcoin.People investing many ways of earning money.VPN is a popular way of using bitcoin and avoid government rule.Government really can't stop us using bitcoin.Also if we convert it to fiat then withdraw then government won't find us anyhow.So I think it's impossible for government to wins over bitcoin.
They will freeze and seize Bitcoin when they give the "ban order" Oh please. You know it is almost impossible to find a small piece of paper with a Private key {Paper wallet} stored in a different location, right? They can raid my house any day they want to and they will never find my hoard with all my coins. You only need a piece of paper or a email with a scrambled message to leave your country and to take all your money with you. I have many friends and family in other countries and I already send them a email that only I can decipher as a backup plan. ^smile^ |
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What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.
The government do not negotiate about taxes, because it is protected by laws. If you do not pay your taxes, the law will force you to pay fines and/or jail time for tax evasion. Governments can only be forced to do what you want, if you use your vote. If your government does not support Bitcoin, simply stop voting for them in the next election and get all other people around you to stop voting for them too. |
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You do not have to work online to acquire bitcoins. You can for instance wash cars in your neighbourhood, if you are want to and then use that money to buy bitcoins. A friend of mine went to a restaurant and he washed dishes for a week and he used that money to buy some bitcoins. <He has a full-time job, but he had no extra money to invest in Bitcoin, so he did that.>
Just use your imagination. ^smile^
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If we take all the servers that exists and completely fill them with cryptocurrency data, how much can we have at once? Nothing infinite after all... Right? We do not speak of nodes as servers.  These nodes can be your desktop computer or even a Raspberry Pi for that matter. The Blockchain that holds the data are growing day by day, but it can be pruned to take up less space. Some developers are also constantly working on ways to reduce the data that are stored on the Blockchain. <Stripping unnecessary data from transactions> We have recently seen the introduction of the Lightning Network, which will shift most of the micro payments off-chain, thus reducing the growth of the Blockchain even more over time. |
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Hello everyone!I have some interesting news to share with you. Some of you are actively looking at the fundamentals, some of you are only looking for crypto news. So i decided to share this article with you. Yesterday was the WORST day for wall-street in ages! There was a giant drop, biggest in history for DOW index.  There are many factors being responsible. FED is slowing down QE for last few months. This showed the inflation, which was almost not present for a really long time. Market crumbled in fear, and thus the giant decrease of Dow. There is also new leader of FED going to lead it now, so it is pretty convenient for those changes... QE are basicly free money for banks. FED is giving banks money with almsot zero interest rates. But with current economy strenght, the interest rates might skyrocket! How this all affects the crypto market? First of all, you have to udnerstand, that the decline is not only in the crypto world, so do not panic! Crypto is not dying. Second of all... As i mentioned, banks do not have so much free money now. So they are not investing in the cryptos as much as they used to. And you can be sure that they did. So overall pumping of money into cryptoworld stopped, which led to the decrease of prices. You can read more about slowing down the QE here: https://www.theguardian.com/business/2017/sep/20/federal-reserve-financial-crisis-stimulus-sell-off-interest-ratesAnd you can read more about the DOW plunge here: http://money.cnn.com/2018/02/05/investing/stock-market-today-dow-jones/index.htmlI hope at least some of you found this information interesting. And hopefulyl some of you have an ease of mind knowing the Crypto is not to blame and everything wil lstabilize eventually  There really is something that connects the cryptocurrency and the financial sector of the world especially in regards to wall street. One thing we can really derive on is that if this falls then the effecta might be double for cryptocurrency as this means that if the physical mo ey is failing then so much more is the virtual and digita money where that is also based from Well bigegst reason right now is the new head of FED as he wants to "re-introduce" inflation and increase interest rates. But all of that might actually work in the crypto favour. Eventually, people might get upset that centrilized authority can do such things and they might aim toward decentralization. Only time will tell. All those events will get rid of the weak and only strong who believe in the blockchain will remain. How can increased interest rates and inflation work in our favour? When they increase, people have less disposable money to invest and this will decrease the demand, which will lead to lower Crypto currency prices. People can lose 100% trust in these Fiat currencies, but when they are forced to use it, it will not have a significant impact on the Bitcoin price. As soon as the government see a shift to Crypto currencies as a alternative payment option, they will clamp down harder on Crypto currency, with more regulations. |
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The different services should actually give you a choice, what you want to use and not what they want you to use. My local exchange is using P2SH SegWit addresses and Electrum use Bech32 and Ledger use P2SH SegWit addresses. Would it be too complicated to give people a choice between the different formats? Let the customers decide what they want. Provide the research and information on the two formats and highlight the pros and cons and leave it to the customer to decide.  I understand the need for choice, and I agree with it, but at some point users need to be "pushed" into one direction. From what I've heard, the Bech32 are the most efficient ones in terms of memory use, and are a much better option than P2SH. The only reason most segwit adopters offered the P2SH option first, is because they are compatible with both native segwit and legacy addresses, making them perfect for a transitory period. But in the long run, what you really want is to start using the native segwit addresses (Bech32). For this reason I totally skipped the P2SH, and went straight to the Bech32. I guess we will start seeing a lot of P2SH first, but in the end, we should all use Bech32. The core wallet apparently gives you a P2SH by default, so this should contribute for people to use that one more often. I would say that if you can, you should go for Bech32, since this might speed up the process. As for coinbase I'm quite curious as well, and I still don't know if they are already using segwit or not. If they are, they are probably using the P2SH ones. I do not have a huge issue with services forcing people to use a specific format, but at one stage these services should decide which one should be the standard and go with that. We will never have a standard, if different services push different formats. This is why I am saying, let the people decide which format is the most popular and then transition towards that as a standard or default choice. The market always decides what they want to support in the long run. I think these services are limiting themselves by not offering a choice. Let's say you prefer to use format "A" and you have to chose between service 1 that are using format A and service 2 that are using format B. You would then choose to use service 1, because they are using format A. |
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Bitcoin entrepreneurs can make a difference by creating jobs in the informal business sector. If they can setup Bitcoin exchanges and people can produce local goods that can be sold internationally, then people can use Bitcoin as the preferred medium of payment. So these people will get more value from global micro payments. <Bitcoin is much cheaper for micro payments than WU and MoneyGram or wire services>
Teach a man to fish and you give him food for life. ^smile^
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There is a market share for everyone. Banks will be the preferred network for much older people who are not capable to handle their own financial affairs. The people who still need face-to-face interaction with people, to solve their problems. The younger generation wants a much faster network that suits their fast paced online life and Bitcoin is filling that need.
Bitcoin also gives younger people independence from authority. You might be too young to handle your financial matters when you use Banks, but Bitcoin makes no distinction with age.
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Eth is more trustable and easy to transact but still why bitcoin is on first choice
Trustable? How can you trust a coin with a centralized authority? Vitalik and his founders were made multi-millionaires with the release of Ethereum's pre-mine. Vitalik even had discussions with the Russian president, Putin and we know how corrupt he is. <there is even murder accusations against him> I will never trust a coin with a identifiable central authority, because these people can be bribed, forced with violence to do what other people <governments> wants them to do. |
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I don't think these forks are at risk, because bitcoin is a bitcoin, and a fork is a fork, and a fork will never stand for bitcoin.
I think the biggest risk is that bitcoin is not recognized in all countries, which would be catastrophic.
No you are wrong. Have you ever heard the expression that "forbidden fruit taste so much sweeter"? The same goes for Bitcoin, because people will be drawn to Bitcoin if it is banned. Some people just love to give governments the "finger" and if they ban Bitcoin, they will support it even more. Bitcoin is a global decentralized network, which cannot be stopped. The governments know that and they are trying to regulate it now, to get people to pay their taxes. |
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Bitcoin Gold are not pumped by Roger Ver and his minions. ^joke^
A lot of these coins seem to think if you create a fork and you pump it a little until you can get some value for your free coins, then you can simply stop supporting it. For any coin to really work, you have to build a strong community and network around it.
You also have to aggressively market the coins to merchants to get it into shops. If there is no use case, then people will stop buying it. This is the reason why Bitcoin Gold is falling on the way side now.
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