 Show Posts
|
|
Pages: [1] 2 3 »
|
|
As I said in another thread, if Satoshi Nakamoto (he/she/they) came forward to the world there would be an excuse for people here to say it's not 'him'. I think that's why Satoshi will stay gone. Because of all the hostility when there should be peace between members of the bitcoin community.
|
|
|
|
Does anyone recall what the BTC price was... when MMM Republic of Bitcoin™ first fired up?
It was quite low, then went up as they traded more and more (to around $1200), then crashed when they ceased trading in Russia, then went up again slightly as they started trading in China. The down again when China banned them, then slowly went up again as they opened their doors in South Africa, Singapore?, and wherever. Seems to be a direct correlation between BTC and MMM trading. Will the price slowly go down again as MMM trades slow? |
|
|
|
MOST FIAT currency especially the U.S dollar i produced by debt and the more the debt rises, the more dollars have to be printed to sustain the debt whereas bitcoin is 100% debt free and solvent so in my eyes as a long term investment bitcoin wins hands down and the more peeps start dumping the dollar, the more bitcoin gains trust and momentum.
The government keeps printing money to create inflation so the money doesn't outgrow the economy. Otherwise people would hoard their cash as it's value rises with deflation. Deflation is terrible for an economy. |
|
|
|
bitcoin and its one million lives are a legend around here.
nothing could weaken bitcoin's strength so far and it has been going on more powerful than ever. just looking at the daily volume of the exchangers proves this.
How many of these exchanges are for illegal goods or services? I find it hard to spend bitcoin being completely honest. I don't believe bitcoin will be mainstream anytime soon. A LOT of the posts on here have people saying they're holding there bitcoin for the future. That's not the route that should be taken to make it a currency. I have a theory about bitcoin I'll start a thread with later and I'd like to get everyone's opinion on. |
|
|
|
Op clearly does not understand bitcoin. Maybe he should go back to the newbie section for a few months to get a grip on bitcoin. As a matter of fact. we should have a bitcoin knowledge test that people must pass in order to get out a newbie section.
Now thats a great idea! pats self on back.
I think that's a terrible idea. Unless you're a bitcoin fanboy you'd be stuck as a newbie forever. If you mention one concern you have about bitcoin here you're either berated or ignored even when you produce valid points. People with the concerns are the ones that will push bitcoin to the next level, not the ones pretending certain problems don't exist. |
|
|
|
If you want to hold currency for a long time, Bitcoin is probably better, since FIAT is subject to inflation and also can go up or down, just like BTC.
So what do you want to do with that currency? What is your goal? Because the proper answer depend on what you're trying to do.
It's good to have a currency tied to inflation as it keeps it stable. |
|
|
|
< The only difference... The Central banks manipulate this, by printing more of less of a currency to retain it's value >  What happens when bitcoin hits the deflation period? The price of bitcoin compared to the economy goes up so people stop spending. What then? I've thought of this for a while but was just reminded by this. |
|
|
|
So guys, in a world where the 10% of total transaction are with BTC, what is the advantages for a normal family? What this kind of money can solve? In particular, if some rich don't spend BTC to increase the value and less BTC are spent, how can deflating happen?
Particular, which CONCRETE advantages can the people get from BTC?
Thank you.
Deflation will begin when production of bitcoin gets low enough. That's why banks are always slowly printing money, to stop deflation occurring as it's terrible for the economy. Also, It's the reason bitcoin can only last (at maximum) until shortly after the last one is mined as it will start to deflate and become technically worth less as it can't be used after it dramatically outgrows the economy. |
|
|
|
All this FUD is currently making me laugh!!  What is FUD? I assume it's something to do with fighting between ourselves? I find it ironic all the posts about 'divide and conquer' yet here we are whining about other bitcoin users. We're always right and they're always wrong though so that's cool.  |
|
|
|
Usually, anyone who disagrees with their view will get bashed.
I have to say this point sounds very familiar. |
|
|
|
|
I must admit this thread is very strange. It seems like bitcoin is becoming somewhat of a religion, referring to him/her/them as 'the creator' (yes, I understand he/she/they created bitcoin) and comparing Nakamoto to Jesus.
Quite odd if you ask me. I would bet anything that the person/people that ran the 'satoshi' account have other accounts on here they use to talk to all of us and might even laugh at this Happy Birthday post as it's a bit odd especially since no one knows when his/her/their birthday is. lol
|
|
|
|
Owning just 21 Bitcoins makes you one in a million. In my opinion, this is enough to be quote-on-quote Bitcoin rich.
My ex boyfriend bought 6,250 when they were only a few cents. Never touched them and now they're locked away on a HDD with a forgotten wallet password. Is he wealthy? |
|
|
|
I mean stolen because of no chargeback. Anyone could 'sell' you something and not send it once they're paid. (If people new to BTC believe it's completely secure they may buy from randoms and get defrauded)
In regard the 51%, I know there is an agreement that nobody goes over 39.99% but if somebody was to get an investor to buy the computer power who wanted to charge fees there's no law from stopping them doing so. Or if a bank decided to go into the bitcoin business. I'm sure a bank could afford computers to do this.
Although I think another problem with Bitcoin is the fact that an investment bank could buy up a huge amount of bitcoin if they though it was a threat. I think there's about $7billion of BTC in circulation. I think it was Goldman Sachs that did this with raw aluminium, pumping the price up by buying HUGE amounts making it rare then sold it all bringing the price crashing down again.
1. The chargeback issue is easily remedied by using an escrow service (either automated or otherwise)...look at OpenBazaar for example...this is really a none issue....you're also again assigning responsibility to a technology for the failure of some to use it properly or understand it properly. That doesn't change what it is and can do that never could be done before. 2. The amount of money required to buy enough hash power to control the network for a few minutes is ENORMOUS and the gain would be minuscule at best. This is again a non-issue. 3. I'm not sure why your last point about a large bank buying up available Bitcoin supply and sending prices to the moon is somehow a problem? People would just transact in milibits or satoshis...it makes no difference to the technology itself. If you're thinking of it only as an investment, then perhaps...but the one thing they can't do is print more Bitcoins or to paperize more Bitcoins than there are...which is what they currently do with Gold.... peace Printing money is necessary to account for and increasing market to prevent deflation (which is very bad, 1% a year as it was in Japan caused massive economic trouble) The reason a government prints money continuously is to slowly inflate it which provides incentive to spend. it's why investments are in business and products rather than currency nowadays. Investing in currency is useless whereas business is good for the economy. A good economy is stable, even with the GFC most of the (Greece and Spain etc not so much) world has recovered fine. I can buy a car for €15,000 and it will be the same price tomorrow, not a million € because of some crazy arbitrage. If my money goes missing from a bank I will be fully reimbursed. I'm not deep with US law but where I'm from (Ireland) it's extremely safe to just use normal currency. Bitcoin is a risk based investment, not a currency at the moment. The final point was actually in relation to what Goldman Sachs (I believe it was) bought up a load of raw metal that was worth very little so the price went up as it was then classed as rare then just released it all back onto the open market and crashed the price making ridiculous money in the process. With only around $7billion worth of bitcoin 'made' the banks could easily manipulate the price. Don't get me wrong, I have some bitcoin but it's quite a novelty at the minute. |
|
|
|
I'm in Ireland. Most people around me know what bitcoin is but seem quite impartial. There's a small group for it in my friends and a small group of other friends against it. They debate it quite regularly and both sides, I have to say make really valid points. It makes for good debating.  |
|
|
|
probably, that's good enough.
but how about if the owner of forgotten wallet password forget everything about the wallet. I mean he should have a thing like phone number or email for example to be sent the new password. CMIIW
Damn good idea. It makes sense to add something like this. My ex-boyfriend bought loooooaaaddddsss of bitcoin back when they were way less than a dollar (only a few cents a coin), forgot about them as he thought they were irrelevant, now they're sitting on a HDD all locked up and inaccessible. |
|
|
|
I thought the wallets couldn't be hacked.  He has a 30% success rate. That's pretty high. I think he uses mostly social engineering techniques, like you give him some ideas of the passwords you already have and what you thought it could be and he tries different variations. Even if he doesn't get in the wallet 30% of the time, does it explain why 70% of the time customer's other bank accounts and stuff is all gone? Very suspicious???  https://spendabit.co/go?q=steel+walletBlockchain put people who are looking to recover passwords on to him. Are they not legitimate? If he's stealing bank account details this would make Blocchain an accessory and a cohort. I don't believe the article mentions '70% of the time customer's other bank accounts and stuff is all gone?' |
|
|
|
30% success rate? Well I assume it is worth it when you have lost a great deal of coins, but seems like a pretty low rate for me.
It's pretty high for something that's 'unhackable'. |
|
|
|
I thought the wallets couldn't be hacked. He has a 30% success rate. That's pretty high. |
|
|
|
Thanks. I just read about the grading scale. Almost like diamonds hehe.
So are those prices justified? If not, what is the price you'd pay?
Both are Silver
Not justified. An ounce of silver is €13/$15 or so. You can buy physical silver from traders at about 40-45 silver ounces for the price of one of those BTC ounces. A single ounce would be about €16. |
|
|
|
Hello, I've recently been interested in buying physical bitcoins (just as a hobby) I saw these 2 online: Casascius Silver ANACS 2013 MS-64 Bit coin 0.1 BTC Loaded - 500 Casascius Silver ANACS 2013 MS-67 Bit coin 0.1 BTC Loaded - 675 My question is 2 fold. what is MS64 vs MS67 mean and what is the average price for these? Seems steep since the 1 btc to usd price is 416. Thank you for any guidance MS64/67 is the grade of the coin. Unless it is silver, gold or a serious collectible I would not buy these. |
|
|
|
|
