Bitcoin Forum
October 05, 2022, 02:45:27 AM *
News: Latest Bitcoin Core release: 23.0 [Torrent]
  Home Help Search Login Register More  
  Show Posts
Pages: [1] 2 »
1  Economy / Speculation / WHEN IN DOUBT READ AND RE-READ THIS FOR TRUE BITCOIN BELIEVERS on: January 23, 2015, 06:55:57 AM
Lots of orders to clear from fiat to btc still give it till February 1st I myself have some that won't clear till the 28th on Coinbase. I have many associates in the same boat. February 1st will be a good first of the month for all of us. Read this article always good and helps you deal with the price fluctuations. All of us seasoned btcers know the deal but I still like to read this. This is especially for all the people out there who buy bitcoin and then are unsure what to do or get scared when the price drops. Enjoy
2  Other / Politics & Society / HOW WILL THE COMING ECONOMIC COLLAPSE EFFECT BITCOIN? on: January 18, 2015, 07:05:05 AM
The title says it all...the world is headed in a scary direction in 2015. How will the collapse of the us dollar and a world war effect the price of BTC?
3  Economy / Speculation / BITSTAMP WAS NOT HACKED!!! on: January 05, 2015, 08:45:16 PM
It wasn't even hacked. They are doing this to test Bitcoin one last time. This is a mark in history people. Mark my words. The price won't dip below 255. After bit stamp opens the price will remain in the 270s and rise steady from there.
4  Economy / Speculation / DON'T PANIC AND HERE IS WHY. on: January 05, 2015, 05:51:18 PM
Everyone read this:
5  Economy / Speculation / 2015 AND WHY BITCOIN IS HERE TO STAY! on: January 04, 2015, 11:15:37 PM
People need to really think outside of the box. Don't listen to the media. What does your gut tell you about Bitcoin?..I have become successful in many areas of my life through spiritual guidance and mediation. It's not a bloodbath. The price is being pushed down on purpose by a someone or a group of people. They are making It more affordable for everyday people to hop on board. With the Russian ruble collapse and the world on the brink of another war. There is no better time for Bitcoin. Bitcoin is here for a reason. There are much larger forces at work here. We are all apart of the forum because we were guided here by our destiny. For some reason we are more aware of things than everyday people. So in turn I believe we will be very wealthy in the coming years. There are only a handfull of people who will get rich off of Bitcoin. But that wealth will help re stimulate growth into a stale united states economy and help propell us into a new Era much like the Internet did. Most people won't buy into bitcoin until it's too late to get rich. Because they are still stuck in the Matrix to some extent. Stay calm my friends and meditate.  Also I encourage you all to read this:
6  Economy / Speculation / We will break 400 for good within the next 8 hours on: October 14, 2014, 01:02:29 AM
Calling it again. We will break 400 again with a strong force within the next 8 hours and stay there for good. This is your last chance guys.
7  Economy / Speculation / TO THE MOON FROM HERE on: October 13, 2014, 10:12:39 PM
Well guys it has been a tough fight. We will see a constant rise until we break the ATH of 2012. Should hit around the same time this year possibly earlier.
8  Economy / Speculation / Breaking 400 in the next 48 hours is a possibility! on: October 12, 2014, 09:58:33 PM
WOW guys we are seeing crazy swings we are heading up! LIKE I SAID!. Hop on now while you can guys....we will never see prices like this again.
9  Economy / Speculation / Price to hit 400 by 10/20/14 and never head back down on: October 12, 2014, 05:58:06 PM
Get your coins cheap while you can. I really urge you all to listen to me. I have a lot of insider info I cant say here. Just buy. That's all you need to know. Thank me later. You will see a 50 - 100 increase by 5/20/14 I am calling it right here right now.

10  Economy / Speculation / BUY NOW! on: October 12, 2014, 02:05:25 AM
I urge all of you to buy before the price doubles this month...just a fair warning.
11  Economy / Speculation / ARE WE HEADING UP OR DOWN? on: October 12, 2014, 01:10:42 AM
Just wondering where you guys think we are heading in the next two and a half months left of 2014? I think we will break the ATH before the end of the year.
12  Economy / Speculation / Why the bitcoin price was under so much downward pressure on: October 08, 2014, 03:46:03 PM
Do you guys think its possible someone or a group of people intentionally drove the price downwards in order to get more people to agree to hop on board at a more reasonable price?...and create some sort of buying frenzy...Is something like that even possible?
13  Economy / Speculation / PRO Democracy protests in Hong Kong could be perfect for BTC on: October 04, 2014, 07:42:23 PM
If we as a community on this forum can come together and somehow get the attention of the millions of college students at the pro democracy protests in Hong Kong and explain to them the power they could tap into with BTC. Imagine the entire movement converting their local currency into bitcoin and vow to stop trading with local fiat. It would make headlines and would be prefect for Bitcoin. This is certainly possible these days...especially with social media. Imgaine that...check this video out in case you haven't seen how huge this movement is..

Watch "Hong Kong Pro-Democracy Protests: This Just In" on YouTube
Hong Kong Pro-Democracy Protests: This Just In:
14  Economy / Speculation / $31000 to spend on bitcoin need advice on: October 03, 2014, 11:58:43 PM
Hey guys I got some spare change to throw into Bitcoin...i am wondering if I should wait the rest of this month out to see what happens. How low will the price go before it changes course and heads in the upwards direction?
15  Economy / Speculation / The catalyst that will drive BTC over $1000 on: July 10, 2014, 03:14:43 PM
Isn't it obvious that the next catalyst that will cause the price of BTC to increase will be when the winklevos etf starts. As soon as people can start purchasing "COIN" I predict the price of BTC to go to the moon and beyond. We should all be paying very close attention to this.
16  Economy / Speculation / NOW IS THE TIME TO BUY! on: July 01, 2014, 08:09:40 PM
Great article wanted all of you to check it out. What inpact will this have on the price of Bitcoin when /if mastercard decides to hop on board??
17  Economy / Speculation / Bitcoin going to the MOON? I dont think so... on: June 06, 2014, 03:27:20 AM

18  Alternate cryptocurrencies / Altcoin Discussion / Major NXT issues on: June 05, 2014, 05:29:11 AM
I've been intently following the development of NXT by reading as much as I can about it and following along with the developers discussions over at's mega-thread.

Nxt stands out above most other "alternative" digital currencies, mainly because it's not a clone, or "fork" of bitcoin. There are only a few "coins" out there right now that can make this claim. I put the word 'coin' in quotes because another thing that most of the Bitcoin 2.0 currencies have in common is that they tend to shy away from being called coins and put a lot of focus on adding totally new features to what Bitcoin does. They usually like to be referred to as ecosystems, and will often correct you if you refer to their platform as merely a "coin".

The ecosystems who are emerging most prominently include Etherium, Master Coin, Colored Coins, Emunie, Ripple, Nxt and Counterparty.

Out of all the emerging ecosystems, I've decided that Nxt is the one I feel has the most potential. Part of this was getting a bit "suckered in" by all of the existing marketing that made claims that Nxt has "instant transactions" (you only need to look to the right hand side of this page to see an example of this), only to find out that this particular feature has not yet been implemented and the common claims of 1000 transactions per second is possibly unattainable.

Although I felt like I got hit with a classic "Bait and Switch", being that crypto is the new wild west and caveat emptor is very much in effect, I didn't take it too personally. A lot of the marketing is disjointed and uncentralized ( the developers are actually proud to say Nxt has decentralized development) so it's hard to blame any one person for making these claims a bit prematurely.

What's kept me from dumping all my Nxt in disgust over being "lied" to, was the fact the "switch" that I took the "bait" for was actually pretty compelling in itself. This being the upcoming "decentralized asset exchange" which I think has a lot of potential, at least to make my investment grow even if I personally am not interested in creating my very own coin or starting an IPO any time soon (I'm just a shameless and unabashed speculator who would like to make a profit on my holdings-which makes me a bit of a pariah over at The AE goes live sometime in April so I'm holding or HODLING as the wacky crew over at bitcointalk likes to say until I see what happens with the price.

What a lot of people say about Nxt is that it's like "looking at Bitcoin in the future" which it kind of is. Currently you do have to install java and use batch files to get it running, but one click installers are around the corner. Once you do get it up and running though, even the basic client is very much easier to understand and use than Bitcoin is. You only have to manage one address, the interface is right in your web browser (but run locally so no SSL needed) and sending and receiving Nxt is about as close to sending an email as I've seen yet.

Nxt's transaction speeds have been faster than Bitcoins, though I can't say how much of this is due to having a much smaller network or not. You also have to wait for ten confirmations vs. Bitcoin's six to be absolutely sure there are no double-spends so it's really hard to say if Nxt is a lot faster than Bitcoin....yet.

One of the lead developers claims to be working on implementing "transparent Forging" as we speak, which he says will get Nxt to about 10 TPS at first, then 100 and finally 1000 TPS which is about as fast as a Visa Transaction. All in all I agree with the assessment that using Nxt is like using the Bitcoin of the Future.

Another great thing about Nxt is that it's 100% Proof-Of-Stake, meaning Nxt is not "mined" like bitcoin is. The coins have all already been created from the genesis block and this is another way using Nxt is a lot like using Future Bitcoin, because one day all the BTC will have been mined and the "miners" will have to exist on transaction fees alone. Using Nxt, we get a little peek into the future of what that day might be like because the "forgers", who protect the network and verify transactions are rewarded in the same way.

Since nxt has a lot smaller network, it's still hard to say what kinds of rewards 'forgers" might receive for their efforts if and when Nxt becomes more popular. As of right now, Forging is pretty much an act of altruism for all but the largest stakeholders. Also,the transaction fee is currently a ridiculous sum of 1 Nxt, which will either be changed to .01 nxt or .1 nxt in the near future depending which developer or community member at you ask. All I know is that it's getting changed to either .1 or .01

The common response is that Forgers will receive about 1% annual return on their holdings and that this is reasonable since there's no expensive, electricity hungry mining equipment involved. You can forge using a cell phone.

One potential problem I've been concerned about with that approach is that .01 Nxt or .1 Nxt might be a reasonable fee right now, since it's trading at about .04 cents each, but what if the price rises unexpectedly by any considerable amount? Seems to me that nxt users will be simultaneously rewarded and punished for holding Nxt and using the system as the fee for using it rises right along with the price. Bitcoin and others also use static fees, but those fees are kept extremely low so the price would have to go up a ridiculous amount for a price rise to have a negative affect on actual trading. With Nxt, even a price rise to $50.00 USD per Nxt would mean a sudden fee of $5.00 USD or .50 cents depending on where they put the decimal.

Nxt's fees in my opinion will be far too close to the value of the main unit for sudden price spike not to potentially have a negative affect on the ecosystem itself. This appears to be one of the consequences of the need to reward miners/forgers with transaction fees alone. Will Bitcoin have a similar problem in the future? Any significant price rise in the asset itself might put a negative pressure on trading as people become unwilling or reluctant to pay the now more expensive fee.

I've been told by the developers that if the price rises that much they will just lower the fee by updating the software, but as we all know, crypto-currency can be very volatile. Do we really want to live in a word where we have to update our clients again and again as the price rises and falls, often rapidly and drastically? Are we to just trust that they will do this quickly enough to avoid the system grinding to a halt or at least slowing to a crawl? The developers already have enough trouble agreeing on what the current fee will be lowered to. How are we to expect them to react quickly and correctly in a crisis while value collapses? I don't even want to go into how one of the developers told me that a drastic price rise will never happen. It's just too depressing. To my mind, programming is the art of anticipating the unexpected and planning for it and not just "crossing bridges when you come to them".

As I've been able to log into the test version of the Asset Exchange I've noticed several things about the system that concern me and most of these things involve these same fees.

If you don't know what a decentralized exchange is, it's basically a trading platform where you can trade a lot of different things without having to sign up with a centralized exchange like Bitstamp or BTC-E. You'll be able to trade right there in NXt's 'ecosystem".

One thing I noticed is that while it's a cool system, there's a fee to do almost anything in it. There's a fee to send, there's a (very large 1000 Nxt) fee to create an asset and worst of all there's a fee to PLACE a buy or sell order on the asset exchange.

Most centralized exchanges like Bitstamp also charge a fee to EXECUTE an order, but NO exchange that I know of charges you a fee just for casting your line into the water.

I'm no expert day trader, but one thing I do know is that traders like to use the order book in an exchange strategically with orders that might not get executed. Some do it to take advantage of potential price spikes or sudden dips they might miss, while others use intimidatingly large sell and buy "walls" designed to inhibit or encourage trading to a desired effect, which they promptly cancel as soon as the action gets too close to actually executing their order.

I've never been able to afford a wall myself, but I have put in a ridiculously high or low limit order in Bitstamp just in case the BTC price spikes or drops rapidly and unexpectedly. Usually my gambit fails and the price moves away from my bid to an impossible range so I cancel the whole thing. In Nxt, I would be charged a fee for this. I'm not sure if this is a deal breaker for me, but I have a strong feeling it might be for many traders considering using Nxt's AE. I can also imagine a fluctuating fee being a pretty big headache for bot programmers trying to figure out how to obtain profit with the slimmest possible margins.

Of course someone who can put up a 2 Million dollar wall can afford paying these fees, but I would hazard a good guess that for many of these traders, who I imagine to have colorful & opinionated personalities, having to pay a fee to merely place an order that they never plan to execute will become a matter of principal and they will refuse to use the platform on this sort of thing alone.

I have tried to bring this up with the developers who congregate at as a potential problem for future traders, but I've been told that Nxt needs to charge these fees so that Forgers who protect the network can be compensated. My retort is that if participation is too low because the fees are too high that no one will be rewarded, but so far my concerns do not seem to be shared.

In short, the one drawback I am starting to realize with Proof-Of_Stake systems is that since no one is creating new coins with mining, that the actual stake-holders need to be incentivised to run open nodes (Forging) so the network is secured and transactions are verified quickly. If the incentives are too small, not enough people will Forge and the entire system is endangered and fees will have to be raised til motivation exists. This is something Bitcoin users will have to deal with in the future, when all the coins have been created and it is something Nxt users will have to deal with right now.
19  Alternate cryptocurrencies / Altcoin Discussion / MASTERCOIN VS NXT on: June 04, 2014, 05:39:35 PM
Just wanted to get everyone's take on both of these coins. Which one do you think will prevail in the long run? I think Mastercoin has a better chance since it piggy backs on bitcoins blockchain...better security ...more adoption ect. thoughts? I am thinking of throwing some serious $$$ at NXT. Not really sure about it right now. I am not clear as to weather NXT will be able to co-exist with Bitcoin or is it a direct competitor? I also need to know if BTC and other cryptos can be traded through NXT. What are everyones views on the future? Do you see NXT over taking Bitcoin or bitcoin serving as a digital "gold" ....also I have a NXT wallet and it says im not secure unless I buy some NXT and send some out to someone? I am very confused about this as well..
20  Other / Beginners & Help / Bitcoin Confusion on: June 03, 2014, 08:13:16 AM
Hey all I am new I have been following BTC for quite some time now and have invested into it. I have watched countless videos of andreas Antonopoulos and I remember him saying that Bitcoin isn't just a currency it can be used for voting come this hasn't been implemented into Bitcoin? I know NXT coin is implementing all of this stuff... Also do you believe NXT will replace bitcoin or will Bitcoin serve as " digital gold " ? ..Also if bitcoin were to be used for voting ect...would coins get spent every time a vote is cast or stock/ contract is traded? sorry for the stupid just a bit confused.
Pages: [1] 2 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!