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So BIP 148 would be activated on August 1 and with Bitmain's latest announcement, https://blog.bitmain.com/en/uahf-contingency-plan-uasf-bip148/, the chances of a chain split is high. Some of the prominent companies like Bitfury, Trezor, Electrum, Mycelium etc have expressed their support for UASF, http://www.uasf.co/What does the Indian exchanges think about this? Are they in favor of BIP 148? This is Zebpay's position on UASF, https://blog.zebpay.com/zebpay-users-and-uasf-dadf93e5ca3bIn the event of a chain split, Zebpay is technically equipped to handle it as well as any other exchange. We will act the way other bitcoin exchanges act, in the best interest of our users.
We have started working on supporting alt coins (that is, other crypto currencies besides bitcoin or different versions of bitcoin). So if required and if technically feasible, we will be able to support both versions of bitcoin in future.
We may provide support for:
1. both the versions,
2. the bitcoin which is more safe and stable, or
3. the bitcoin that becomes more popular globally.
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Now there are many hodlers among us  Is the practice of holding bitcoins good or bad for it's growth? I had recently come across a statement that bitcoin is a settlement system rather than store of value/digital gold and holding bitcoins is somewhat making it accessible to rich people only. Arguments in favor of hoarding bitcoins: 1. Since bitcoins are limited in numbers, holding would obviously increase the demand and thus the price. 2. Bitcoin as a commodity/hoarding, as a currency/spending. So once the price increases, what we earlier bought for 1 BTC can buy it now for 0.5. 3. Merchants would prefer BTC over USD. (In the hopes that prices would increase) 4. Bitcoin is divisible. Everyone cannot own 5 or 10 BTC, but still holding on to a few satoshis would be profitable in the long-term. Now there are some arguments against holding: 1. Deflation. https://en.bitcoin.it/wiki/Deflationary_spiralThe ‘deflationary spiral’ is a real condition that affects the popular fractional reserve backing system. Bitcoin is not affected by this because it is fundamentally different from popular currency.
2. If the elites gets hold of majority of bitcoins, the demand and price would be high, but since the common man would not be able to afford it, demand decreases, elites dump, price crashes, common man buys some, market stabilizes a bit, and elites buys back more. It kind of becomes a centralized holding affair. 3. Rather than hoarding, an environment where bitcoins are more used as a mode of payment for buying goods or services is more beneficial for it's growth. So what do you think, is hoarding bitcoins good or bad for it's growth? Edited the poll. |
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A couple of countries have launched their own cryptocurrencies and some are planning to do so. The governments know that bitcoins can't be completely centralized and hence creating their own fully centralized version of cryptocurrency. Legalising bitcoin and making it a part of a country's financial structure is in no doubt beneficial for bitcoins growth, but instead using blockchain technology to roll out their own digital currency and ultimately banning bitcoins, would it affect bitcoins progress? What do you think? Countries with their own cryptocurrency, Ecuador, China, Singapore just tested digital dollar via Ethereum blockchain, Palestine is planning to launch their own currency and and a few countries are studying the blockchain technology closely. IMO, governments legalising bitcoins is the best way to achieve mass recognition. On the other hand, if more countries launch their own digital currencies and proclaim bitcoin as illegal then that would definitely halt bitcoins growth, but only temporarily. Banning internet is altogether on a different level than banning bitcoins. So the growth would be halted, but the internet money would bounce back. Streisand effect. The Streisand effect is the phenomenon whereby an attempt to hide, remove, or censor a piece of information has the unintended consequence of publicizing the information more widely, usually facilitated by the Internet.
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Now, there are two scenarios:
1. Users prefer bitcoins solely because it is decentralized and pseydo-anonymous. They do not want it to be regulated by a governing authority.
2. Users who think that even if bitcoins get regulated, it would not matter much. They are okay with accepting the centralized, tax paying, non-anonymous version of bitcoins.
First of all, even if bitcoin is not legalized in a particular country, users do have to pay taxes on conversion. Secondly, it is not entirely possible to enforce a complete ban on bitcoins so if bitcoin is even banned, users can still somhow escape without any legal implications.
But after Japan legalized bitcoins we have seen a tremendous spike in bitcoin price. Solely because when a governing authority backs and legalises bitcoin, not only it gets huge attention, but the citizens of that country believe it is something legal, it is something new, it is something technologically advanced, it is something that has future, it is something that we should try.
So the point is, IMO the more countries legslise bitcoin, the more it would grow, the more the bitcoin community and users would benefit from it. Obviously on the downside decentralization would be taken away, I guess at least partially.
So what's your opinion, do not want bitcoins to be regulated and let it grow on it's own or regulation is required for global adoption of bitcoins.
PS: I mean by global adoption, not 10% of a country's population using bitcoins, but at least 50%.
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While the regulating process is in work, the government has decided to crack down illegal exchanges and pyramid Ponzi schemes that are luring the investors. And if I am right gainbitcoin is a pyramid scheme which is being marketed as a cloud mining platform. Many scam accusations have popped up against it, but if they do have mining rigs and their operation is legit and transparent, I guess they will get through or it would be added to countless list of Ponzi cloud mining schemes. https://news.bitcoin.com/indian-government-cracks-down-illegal-bitcoin-activities-regulations/ |
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It is likely that the user-activated soft fork (USAF) would be activated on August 1 which would result in a bitcoin chain split. Likely outcomes: 1. Bitcoin core protocol would undergo some changes. 2. Blockchain split, leaving multiple or at least two types of bitcoins, on two different blockchains. 3. USAF lacks community support, the Chinese mining pools are against it so a split would end in one chain with Bitcoin and SegWit activation, whereas the other one will be dominated by the Chinese mining pools. The first UASF bitcoin mining pool, http://pa.xro.ca, currently under maintenance. There is a small possibility that blockchain split might happen and if that happens users would be left with two different bitcoins. No one is sure of what's going to happen in cryptosphere, as a precaution it is better to withdraw any funds from online wallets or exchanges before August 1. Source: https://themerkle.com/should-you-be-concerned-about-a-bitcoin-chain-split-on-august-1st |
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A couple of days ago I forgot the password of my Blockchain wallet. Luckily, I had saved the passphrase, but since I created my Blockchain wallet in 2014 it had 19 passphrases. The updated wallet only have 12 passphrase so entering 19 passphrases was not working on this link, https://blockchain.info/wallet/#/recoverI searched and found this link on Reddit, https://blockchain.info/wallet/forgot-passwordAnd it worked. So this simple tip might be helpful to people who have 12+ blockchain wallet passphrase. |
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Domain name: vegascasino.tips
Registered at Godaddy
Expiry date:Feb 6, 2018
Starting bid : 0.005 BTC
Bid Increment : 0.001 BTC
Auction ends on 24 hours after a valid bid has placed
Winner: Last bid
Payment methods accepted: BTC
This is not a bitcoin or crypto related domain, but could be used for gambling related stuff.
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Hi, I have some credits left on social media exchange sites which I got through my referrals. I am selling these credits for $5. All the likes, followers, views etc are legit and genuine, but there is no guarantee (a small percentage of these likes or followers might unlike or unfollow in a week or two) Service are available for these social media platforms: 1. Facebook 2. YouTube 3. Twitter 4. Google + Trusted hero or legendary members need to pay only after the services has been delivered. If you have any questions feel free to PM me or post  |
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Domain name: btcgal.com
Registered at Namecheap
Expiry date: Mar 24, 2018
Starting bid : 0.01 BTC
Bid Increment : 0.005 BTC
BIN : 0.12 BTC
Auction ends on 28 Mar 10 PM (IST)
Winner: Last bid or BIN
Payment methods accepted: BTC
This domain is suitable for girls who are into BTC, personal blog, adult blog, webcam, and stuffs like that.
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Domain name: cryptonewsmedia.com
Registered at Namecheap
Expiry date: Feb 27, 2018
Starting bid : 0.02 BTC
Bid Increment : 0.005 BTC
BIN : 0.12 BTC
Auction ends on March 1, 10 PM (IST)
Winner: Last bid or BIN
Payment methods accepted: BTC
The domain has a strong keyword, newsmedia. It could be used for starting crypto related news site, crypto radio, crypto podcasts etc.
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Domain name: cryptogoods.com
Registered at Godaddy
Expiry date: Feb 26, 2018
Starting bid : 0.02 BTC
Bid Increment : 0.005 BTC
BIN : 0.12 BTC
Auction ends on 27 Feb 7 PM (IST)
Winner: Last bid or BIN
Payment methods accepted: BTC
Goods as in commodity, material, or merchandise so this domain name is appropriate for selling crypto related stuffs or selling stuffs for crypto or starting a crypto related marketplace.
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I received a mail from Coinbase today, Hello,
Thank you for your interest in Coinbase. Our primary goal is to make digital currency safe and secure for our customers. Coinbase is a regulated Money Services Business under FinCEN (FinCEN.gov), and as part of achieving this goal, we are legally obligated to implement regulatory compliance mechanisms.
Upon careful review, we believe your account has engaged in prohibited use in violation of our Terms of Service and we regret to inform you that we can no longer provide you with access to our service. We respectfully request that you follow the on-screen instructions presented when you log into your Coinbase account to send any remaining balance offsite to an external address.
Should you have any questions or need assistance, please let us know and we'll be happy to help.
Respectfully,
Coinbase Customer Support prohibited use in violation of our Terms of Service - WTF  I do not have any funds in my coinbase account now, 13DHU877EnKy8uvCg2NSWNcSPhdCuMuLLz, but still closing the account without citing any valid reason is not professional. I have read about many complaints regarding coinbase on this forum as well as reddit, guess most of them were true. |
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Domain name: cryptocoinsmarket.com Registered at Namecheap Expiry date: Feb 19, 2018 Starting bid : 0.010 BTC Bid Increment : 0.005 BTC BIN : 0.12 BTC Auction ends on 23 Feb 10 PM (IST)
Winner: Last bid or BIN
Payment methods accepted: BTC This domain could be used for cryptocoins market analysis/charts or on a broader scale everything related to cryptcoins market |
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