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1  Economy / Speculation / Answers to what is Bitcoin backed by? Give your answers on: December 26, 2017, 09:37:40 PM
Here is my answer.

Bitcoin is backed by the full faith of those who do not trust governments.
2  Economy / Speculation / LN hubs as money transmitters under FinCEN regulatory requirements? on: December 21, 2017, 11:09:03 PM
Anyone have an opinion or know anything about this?
3  Economy / Speculation / The Debate Within Bitcoin: Jameson Lopp vs. Roger Ver ( interview / debate) on: December 21, 2017, 02:59:01 AM
Great interview posted 4 hours ago.

The Debate Within Bitcoin: Jameson Lopp vs. Roger Ver on Bitcoin and Bitcoin Cash
4  Economy / Speculation / Lightning Fees > speculation on: December 17, 2017, 10:03:20 PM
The promise of lows fees?

Ok, so once a payment channel is open and you have sent BTC to the channel you enjoy low fees. We can scale up the transactions with Lightning "IOU's" to Visa like speeds....ok I get it. In the future you will also be able to move your BTC IOU's from one payment channel to another if you choose.

The question I have is what will be the fees just to transfer from the main chain to the payment channel, when Lightning is ready? Will that be a barrier to adoption? Is Blockstream really our friend? So many questions.....
5  Economy / Speculation / Legacy addresses > speculation of fees in the next two years on: December 16, 2017, 09:17:47 PM
So I have paper wallets from 2014 and I really don't want to move them to segwit addresses. I made them with Armory and I am quite happy.

What are you doing with your older paper wallets? Are you happy to keep them on legacy addresses? What do you think the fees will be in a couple of years for legacy addresses? Admittedly 30-60 dollars is not that much for a largish transaction today. But what will the fees be later? Any guesses??
6  Economy / Economics / Becoming wealthy and social responsibility on: December 16, 2017, 07:05:07 PM
While I don't have many posts. I got involved in Bitcoin in 2013 and joined this forum in 2014. While I do not consider myself wealthy from Bitcoin yet. I do have an idea of how I would like to direct some of this new found wealth. I think most of the people who got involved early got involved for the right reasons. IE: To change the world and move humanity out of the control of the bankers. I am concerned that the new people coming may only be in to make money. I hope I am wrong, I really want this technology to be a force of good in the world and deliver economic freedom to the masses and the unbanked. My hope is everyone who was early, has some idea in mind that will help others. Maybe help your family, or a charity that you think isn't wasting money, or building a community swimming pool etc. If you have a lot of money think big and how you can change the world for the better. This is our chance!
7  Economy / Speculation / 21 BTC block ( With fees! ) on: November 14, 2017, 12:24:49 AM


ViaBTC grabbed a 21 btc block with fees. I think the BTC only investors are underestimating Bitcoin Cash.

I have learned a couple of important things about investing.
1) Be agnostic and let the market tell you what is going to happen. Let the market decide. ( Don't impose your beliefs on the market)
2) The herd is almost always wrong. (ask yourself are you the herd)

Personally I am agnostic and hold an equal amount of each right now.
Also I think there is a strong possibility Bitcoin Cash will at a minimum, gain steady hashing power over the next several months. Lets see how the new difficulty adjustment goes from today's fork.

I know all the arguments for lightning etc.. but a 21btc block! are people going to wait for lightning?  Perhaps BTC should be called Bitcoin Gold because it is only economical to move over 100 dollars in BTC due to the high fees. ( The mempool is going crazy.) BTC with high fees is ok with me, but it's only utility is large transactions and a store of wealth. This is ok too.

Ok you can bash me now.

8  Economy / Speculation / What happens when the "Greens" object to bitcoin on: November 09, 2017, 07:22:13 PM
Sometime in the future the "Greens" will object loudly to Bitcoin's energy consumption. Does anyone think the voices will get so loud, POW for Bitcoin will be a controversy?

This is one of Bitcoin's weak spots in the public opinion arena. Does anyone think somewhere down the road POW might be changed?
9  Economy / Speculation / Chinese consolidating not banning (intent to regulate and dominate) on: October 07, 2017, 05:30:06 AM
Here is a good explanation of what is happening and not happening with the exchange ban. Essentially Chinese authorities are consolidating the industry with the intent to regulate and dominate.

Definitely not banning as the FUD would lead you to believe. This is from the perspective of a western business man, having had companies in China.

HuoBi & OKCoin Chinese Cryptocurrency Exchanges will NOT Close, Digital Yuan to Commence
10  Economy / Speculation / Google Wallet + Facebook apply for banking license on: June 20, 2014, 04:34:14 AM
I do not agree with Martin Armstrong that Bitcoin ( or other known or unknown cryptocrurrencies) do not have a chance against Google Wallet. However I find this an interesting article and perspective.
This is the third article down (at this time) . Note: Articles will continually be added on top so you will have to scroll down to see them over time.

The real birth in electronic money is not Bitcoin, but Google Wallet. Standing in line at Starbucks you will see the under 25 crowd pay with their cell phones. Sorry, but Google is already there. Bitcoin cannot compete nor will traditional banks. Just as Amazon reduced book publishers to a subservient role at their direction, and book stores went out of business, while the internet is rendering newspapers obsolete, the trend to pay attention to is Google Wallet, which is targeting the traditional banks.
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