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September 25, 2018, 06:03:59 PM *
News: ♦♦ New info! Bitcoin Core users absolutely must upgrade to previously-announced 0.16.3 [Torrent]. All Bitcoin users should temporarily trust confirmations slightly less. More info.
 
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1  Economy / Reputation / Mass negative trust spammer on: August 10, 2018, 03:58:44 AM
It appears as if the bitcointalk user "game-protect" (profile: https://bitcointalk.org/index.php?action=profile;u=874254 ) has gone on a negative trust tirade. He appears to have left two negative trust feedback on me for participating in the Sportsbet.io signature campaign. However, his second negative trust reads:

Quote
Promotes the publicly proven bitcasino.io scam for his own financial benefit = criminal offense!

bitcasino.io is operated without a license and in breach of AML and other laws!


When I have never participated in, or had anything to do with Bitcasino.io. It appears as if he has left both of these negative trust on everyone participating in these signature campaigns, and his reference is a link to his own website. In a way, this is like reverse signature campaign advertising. Tagging everyone with negative trust, then advertising his own website. Is there any way to get this negative trust removed? He has a bad reputation and gets to make mine bad for no reason. He doesn't even know the law, so has no right to say what he did. His account even has -64 trust which appears to be well deserved.


According to the feedback left on his account, he is a very shady individual!
2  Economy / Speculation / Can Bitcoin sustain a high price? Does my math check out? Is this valid logic? on: June 20, 2018, 10:02:01 PM
Hey guys, I have been thinking about this frequently with Bitcoin. I wanted to post this thread so I could have a discussion with those that are more knowledgeable than myself. I am curious as to what the implications of Bitcoins block rewards would be if say Bitcoin reaches $50k for example.
Obligatory disclaimer: I am a Bitcoin bull and am very passionate about Bitcoin. I am not trying to FUD in any way shape or form. I just want to have an open discussion as this is something I have been thinking about for a while.

With the block halving two years out, my math will be based on the current block reward. If Bitcoin hits a $50k price point then the market cap would be around $875 Billion. I think this is doable, as this would put it within range of Apples market cap. However, with Bitcoin's block reward being 12.5 currently, that means each block reward would be $625,000. This comes out to $90 million per day on average. This is an insane amount of money. There has to be new money constantly coming in to buy up these coins, right? Otherwise, the market would just slowly bleed money. At least that is my understanding of this So with that being said, $90 million per day works out to about $33 Billion a year. So if I understand correctly, there needs to be $33 Billion dollars each year buying up Bitcoin so the price can sustain $50k.

Now, we can assume every miner won't sell every coin and there will be some hoarding taking place. With that being said, let's assume every miner will only sell enough to cover the cost of production. We have no clue what cost of production will be in the future, so lets say its 50% of the Bitcoins price.  Even then this would still work out to $16.5 Billion yearly. Also, even after the block halving this would be $8 Billion per year. Is this something that is even possible? These numbers are very large, it doesn't seem too feasible to me. I remember people arguing this when Bitcoins block reward used to be 25, but the $ amount back then was really small. $Billions of dollars is a lot of money.

What do you guys think? Is my thought process flawed? Is it possible Bitcoin could sustain a price like this?
3  Bitcoin / Bitcoin Discussion / General Publics Perception of Bitcoin? What are your experiences? on: May 30, 2018, 04:24:43 PM
What is your experience with the average Joe and Bitcoin? When I talk with the average user about Bitcoin, I usually get a variation of these three responses:

"Bitcoin? Isn't that stock crashing and becoming worthless?"

"Bitcoin is a scam and the government will shut it down. It will die soon, no way the federal reserve will let it be worth more than the dollar."

"Yeah, i've heard of Bitcoin. I like pokemon cards better though. I used to like and collect Pogs."

99% of the non-crypto users I speak with say something to that effect. How can we change their perception of Bitcoin? Is it even possible? I believe a lot of it has to do with just a general absence of knowledge when it comes to what bitcoin is.

What have you guys heard the public say about Bitcoin?

4  Bitcoin / Development & Technical Discussion / Is the network under attack in some way? on: April 11, 2018, 02:57:40 AM
Bitcoin has had a significant drop in hash rate and the daily transaction count today. Within the last 24 hours, the daily tx count has dropped by 78% going from 180,000 per day to less than 40,000. We haven't had transaction volume that low since 2014, and have not dipped under 100k per day since 2015. Currently sitting at 37k transactions in the last 24 hours. The hash rate has also had a near 66% decline and is currently at 10 exahash/s down from 30. Does anyone have any thoughts or ideas as to what may be occurring? Why have the daily transaction count and hash rate dropped simultaneously?
5  Bitcoin / Bitcoin Discussion / BTC Transactions and hash rate have dropped significantly in the last 24 hours. on: April 11, 2018, 02:25:47 AM
Does anyone know what is happening with the network activity? Is the network under attack? Bitcoin has had a massive drop in the daily transaction count. Yesterday we had 180,000 on average, this last week the lowest we have gotten down to is 138,000, and for the last 3 years have never dropped below 100,000 txs per day. Currently, Bitcoin has only had 40,000 transactions in the last 24 hours. This is a 78% decline in transaction volume since yesterday, and yesterday had a relatively low tx count already. This is a drop that no one is talking about, and it is honestly terrifying. Not to mention the hash rate has declined by 66% in the last 24 hours. What is going on?
6  Economy / Speculation / Interesting Article on: October 10, 2014, 02:33:40 AM
http://time.com/money/3479199/why-bitcoin-fans-dont-believe-in-bad-news/

Opinions?
7  Economy / Speculation / For the bulls on: October 05, 2014, 04:15:51 PM
I have a question for the bulls... I am not falling, or any other "troll" account. But i have a few points for the bulls and i was wondering if you could counter them...

Points
- The winklevoss etf will actually be shot down
- just kidding im not doing that



Serious points
- Miners dumping thousands of BTC a day
- A lot of people say, that the only reason BTC hit 1k+ was because of the willy bot. Not to mention there was actually proof of the willy bot on mt gox.
prior to the willy bot, btc wasnt over 250. What if right now, the dust is settling and BTC is returning to what it should naturally be. Which means right now, BTC is currently overpriced
- Merchants convert BTC to USD instantly

And i think it is funny. I was like everyone on this forum a few months ago. I would look at a fallllling thread and laugh, not only at the grammatical errors, but also his crazy predictions. However, he and all the other "trolls" here, have been correct. Maybe they didnt get the time frames right, but they sure did get the prices right. and they can come back, and warn us some more, but we probably wont listen. But the price keeps falllling...
8  Alternate cryptocurrencies / Altcoin Discussion / Pump and Dump on: May 08, 2014, 12:45:01 AM
Hi, I know that pumping and dumping is illegal, so how do i avoid it? If I buy a few coins and a few days later they rise up and then i sell them when they are up, is that considered pumping and dumping?
9  Other / Beginners & Help / question about gambling on: May 07, 2014, 11:34:38 PM
Do you think freebitco.in is considered gambling? I rolled the dice twice and got like 400 satoshi, but i never made any bets or deposited bitcoin in that site... Is that considered gambling? And is freebitco.in even a gambling site? Online gambling is illegal in my state... Thanks!
10  Economy / Service Discussion / Poloniex question on: May 07, 2014, 02:40:27 PM
Please excuse my ignorance, but is poloniex safe? Is it legal in Florida, USA? And one more thing, is there anything gambling related with poloniex? I would like to avoid gambling, thanks.
11  Economy / Speculation / Will there be a another FUD after may 10th? on: May 07, 2014, 03:01:40 AM
Will there be a FUD after May 10th? Will bitcoin drop below $400? discuss.
12  Other / Beginners & Help / Bitcoin question? on: May 02, 2014, 07:41:23 PM
I hear that bitcoin will be unbanned after may 10 in China. Does that mean bitcoins price will go up? Should I buy now? Thanks guys.
13  Other / Beginners & Help / Wallet fee? on: May 01, 2014, 12:46:16 AM
I'm sorry to sound like a noob, but how do i send bitcoins without a fee on the multibit wallet? I don't want to sound cheap, but I don't have much money, so the fee's seem like a lot to me. Thanks guys!
14  Economy / Speculation / Bitcoin Price on: April 29, 2014, 12:51:08 AM
Hi guys, i'm relatively new to bitcoin, and I believe I messed up... I but $50 worth of bitcoin when it was at $482. Then Hours later it dropped to $440. Do you guys think bitcoin will go back up to its $500 price? Or even above that? Thanks for reading.
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