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1  Bitcoin / Development & Technical Discussion / Re: How to detect a fake transaction? on: December 28, 2017, 06:31:20 AM
This cannot happen because of the way each transaction is designed. Every single transaction must reference an output of another transaction. Essentially you can only spend the money that you already have. You cannot create BTC out of thin-air.
2  Bitcoin / Bitcoin Discussion / Re: Bitcoin transactions fees so high on: December 28, 2017, 06:17:50 AM
Bitcoin transaction fees are proving to be profitable for so-called bitcoin "miners".
3  Bitcoin / Bitcoin Discussion / Re: Is there any way to destroy the bitcoin? on: December 28, 2017, 05:49:15 AM
Yoy could potentially “destroy” coins by sending them to an address that has no private key, or to simply send it to yourself and erase all copies of your own private key. This will result in those coins being lost in that address forever effectively destroying them. Smiley
4  Bitcoin / Development & Technical Discussion / Re: Blockchain development on: December 26, 2017, 01:34:09 PM
Given that blockchain technology is evolving very fast and the landscape changing from day to day I will focus on the two following platforms.

Ethereum is certainly one of those blockchain platforms that has a future due to the great community developing applications and smart contracts. I think it is one of the best so I would put on top of my list.

Hyperledger is a great platform as well even it is not as famous as Ethereum. Hyperledger is a LinuxFoundation projects that was first developed by IBM and then donated to the LinuxFoundation. Its slogan is “Blockchain solutions for business”. So the focus of the project is to provide permissioned blockchain technology for business solutions. Some business blockchain frameworks hosted within Hyperledger projects are Hyperledger Sawtooth, Hyperledger Fabbric and Hyperledger Iroha.
5  Bitcoin / Bitcoin Discussion / Re: The Dangers of Bitcoin on: December 26, 2017, 12:17:55 PM
bitcoin is a disruptive technology but not for that is meant to be safe. Around the world right now there are some concerns about the uses of Bitcoin:

Who is the legal back-up of Bitcoin?

If someone steal your wallet with your bitcoins inside, who is the authority that is going to act for that consideration? Actually, none because bitcoin is free of authority which is a good thing and bad thing also. For example, when Mt Gox. went to bankruptcy, no one took care of thousand of people which bitcoin was stolen (according to them) and the japanese governement, even that took actions against Karpeles and the company, wasn't enough to fulfill the situation.

My government banned the Bitcoin

I personally lived this situation. I live in Paraguay and I have friends in Bolivia, which tells often that the Central Bank banned the bitcoin, even with the situation that they can buy/sell bitcoins without any problems. I explained them that, even if they succesfully close some websites, they can't the bitcoin down.

A killer-app or technology like quantum computers.

This is currently a common argument because they say computers are going to be so smart, bitcoin is going to belong to a Quantum computer machine. I don't know very much about quantum machines except what I read at Wikipedia but the only thing I can say this argument could be true IF Bitcoin stop making upgrading and developing better ways to ensure the transactions.
6  Bitcoin / Bitcoin Discussion / Re: Investment regrets! on: December 26, 2017, 12:00:11 PM
The biggest regret would be not buying bitcoins a bit earlier.
7  Bitcoin / Bitcoin Discussion / Re: Is Bitcoin Sound Money? on: December 26, 2017, 11:42:54 AM
Bitcoin is an innovative digital token system that fully satisfies the requirements of sound money: durability, transferability, divisibility, scarcity, recognizability and fungibility. Bitcoin is digital cash.

How it works: To track who has how many bitcoins, bitcoin uses a single shared ledger called the blockchain, which is distributed on nodes everywhere and replicated over and over. Miners from all over the world then ensure the security of the blockchain, which is what gives bitcoins value. This security method is called proof-of-work, where adding new entries ("blocks") to the blockchain requires computational work. Since all of the blocks are chained together, this means that changing a record on the ledger requires a huge amount of work, with the amount of work required increasing rapidly as new blocks are added and time goes by. After the addition of a few blocks, the previous blocks are forever immutable. Bitcoin and its blockchain are intertwined because the miners are paid in newly issued bitcoins and transaction fees for the transactions the miners process. New bitcoins are released on a fixed schedule and there will never be more than 21 million, currently 15.7 million units exist. Fractions of bitcoin as small as 1/100,000,000th of a bitcoin (a "satoshi") can be used. The computational power of the bitcoin network currently exceeds all of the supercomputers in the world combined. The power of this decentralized network is what backs bitcoin the currency. An interesting side benefit is that the bitcoin blockchain can then be used to support any application that needs an immutable ledger to write to and an easy way of transferring token ownership, where the tokens can represent any desired real-world item, such as property, debt, or stock in a company. This has the potential to disintermediate an enormous number of third party middlemen and disruptively change how we conduct business, which is why more than a billion dollars in venture capital has moved to support companies in this space. Details of the bitcoin protocol were first published in 2008 by an unknown person, group, or organization using the pseudonym "Satoshi Nakamoto," and the protocol has been running with incredible stability since 2009. There have been numerous small problems identified and fixed as the network has grown, and there is a lot of vigorous debate about the direction the open source project should go in, but in more than seven years no major flaws or weaknesses have been identified. Because it is decentralized, there is no central point of failure or attack, which means that controversial as it may be, bitcoin is here to stay.

So why does bitcoin have any value? Because things that are durable, transferable, divisible, scarce, recognizable and fungible have value. Bitcoin is all of those things, and all of it is backed by an enormous distributed network of bitcoin miners and a worldwide network of bitcoin nodes. How much value depends on how much people trust bitcoin and how widely used it is, and because that is not knowable at this point, bitcoin is very volatile in relation to other currencies.
8  Bitcoin / Bitcoin Discussion / Re: how long have you been holding for? on: December 24, 2017, 01:07:37 PM
For 6 months
9  Bitcoin / Bitcoin Discussion / Re: What is bitcoin on: December 24, 2017, 12:59:03 PM
Bitcoin is a form of virtual currency, created in 2009 by an unknown person using the alias Satoshi Nakamoto.
With Bitcoin  you can buy goods or services using this currency as you would with dollars or euros, as long as the seller accepts bitcoins.
Bitcoins are used for electronic purchases and transfers. Every single purchase is immediately logged digitally on a transaction log that tracks the time of purchase and who owns how many bitcoins. This way every transaction is 100% transparent giving more safety to the whole process.
But will people know how much I am spending and on what? No, sir. Each transaction is recorded in the public log, and the names of buyers and sellers are never revealed – only their wallet IDs, keeping the transactions private.
10  Bitcoin / Bitcoin Discussion / Re: Is it late to invest 10K? on: December 24, 2017, 12:52:00 PM
I do not think that it is late to invest in bitcoins.
However the amount that you invest totally depends on you.
11  Bitcoin / Bitcoin Discussion / Re: Why bitcoin is not supported in some countries? on: December 24, 2017, 12:41:12 PM
It’s an infrastructure and understanding problem. Even if people have heard about BTC, you need to understand how to accept it and incorporate it into their organizations and lives. Considering there’s already a ton of downside to using BTC (long wait times for confirms, high transaction fees, etc), it’s likely not going to advance until more infrastructure is built.
12  Bitcoin / Bitcoin Discussion / Re: The future of Bitcoin on: December 24, 2017, 12:34:00 PM
Bitcoin has hit three speed bumps in its market perception and evolution. None of these present a serious impediment to long-term adoption and growth:

First, it was the perception that cryptocurrency was a tool of crime, vice or tax evasion. This proved to be a false perception.
Then, it was the mismanagement and/or insolvency of exchanges and hosted wallet services. One might expect such events before the emergence of standards & practices and trusted accreditation bureaus. In any event, they are moot to early adopters that understand the tools.
And now there exists a ‘forking crisis’ which is a result of a reduced mining reward, increased computational complexity and differences of opinion about solving transaction problems that are not really so hard to resolve.
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