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1  Economy / Exchanges / withdrawal on: January 02, 2018, 10:15:40 AM
4 Days ago i requested a LTC withdrawal...............

all sorted now, took a little longer than usual but all good at the end.
2  Other / Off-topic / Flat Earth on: September 02, 2015, 12:40:58 PM
Is it a plane, a dom or disk shaped?

Gravity cannot explain this phenomena in the photo below, but density can.


3  Alternate cryptocurrencies / Altcoin Discussion / The full uncut story so far on: August 26, 2015, 02:59:35 PM
Litecoin genesis to halving
4  Alternate cryptocurrencies / Altcoin Discussion / Follow the line on: July 21, 2015, 03:23:02 PM
The (new) money flowing towards a coin. Reward times price, added up.

Some of the reasons
  • Technicaly sound
  • As secure or better than bitcoin
  • Lots of liquitity
  • A healty amount of mining reward to come, so investments are worthwhile
  • Not crippled in any way and miners get paid 100% for the hard work**
  • Fair successful and competent launch with over 5000 views for voting on best start time.
  • A great running mate to the President, Bitcoin
  • Known and respected dev.
  • .....

*Unfortunately no new coins released recently. Only 4B on market and 95 Billion (95%) still to come, Only available coins traded back and fort, i can smell trouble.
**If you do a days work, you want a days pay and not give a stranger a share for standing around and do nothing.
5  Alternate cryptocurrencies / Altcoin Discussion / Graphic horror on: July 16, 2015, 04:43:59 PM
We all can agree Dogecoin did have a mad pump early on in his live.

Now what does that translate to if summed up in Dollars (Reward times price).  Truly much love

6  Alternate cryptocurrencies / Altcoin Discussion / The next generation of coins on: October 21, 2014, 09:24:32 AM
Currently there is only about 4000 active coins the next wave of coins will lift this number significantly.
Just around the corner is a tsunami of new coins approaching probably reddit will be the first one out and every medium to large size corporation will have its one coin.
IBM and Samsung already said that the will fork ethereum they wont be the only once, once Pandora's box is opened.
Governments too are busy right now designing there own coins with Ecuador and Philippines leading the way.
Yes celebs and wannabes will have there private coin too, why not?
After all why would't they have there one money it cost next to nothing and people will buy into it. Most will have a set-up similar to XRP with no transparency and with some system for them to control inflation or regulate price. Distribution is as good or better as any other available coin. The coinmarketcaps will be instantly above most available coins now, in fact the Coinmarketcap site will be made redundant as there is no way to know the real cap of this type of coins.
Money is just something taken with one hand and given with the other.
With this many coins floating about a reference point is needed. In the old days it was the Gold standard now it's the Bitcoin standard.
7  Alternate cryptocurrencies / Altcoin Discussion / Doge the life saver on: September 28, 2014, 12:10:20 PM
Yes without Doge some of the exchanges would have a very hard time

Remember since the hack bter is running a fractional-reserve system so without doge the would be in serous trouble
Also to note the collapse of mintpals volume since the take over, which means they had fake volume beforehand (cooked the books) 
8  Other / Off-topic / Man does big business on banks floor on: August 04, 2014, 09:53:50 AM
Its not the conventional deposit or is it?
9  Bitcoin / Bitcoin Discussion / Real honest Money on: July 02, 2014, 10:05:11 AM
Remember basic Physics you can not create something for nothing

There is no better promise than Energy because everyone needs it, wants it and i will never have any problem selling it as it is universally recognised. To create a Proof of Work (PoW) coin you need x amount of energy and you can not cheat. A Proof that work has been done. Right now it costs $600 Dollar to generate a Bitcoin, someone has done $600 Dollars worth of work, thats a promise. If someone has done $600 dollar worth of honest work for you, are you going to pay him? If a miner sells below cost he will not be a miner for long, if the profit is huge others will join. I don't need to be Einstein to figure out if a Bitcoin sells for $1000 and i can produce it for $600 i will produce.
Not only the electric used to mine it is also the production of the chips, the engineers designing the chip of the algo........

Litecoin is a backup of your real money just like you back up your wallet. It is gross negligence to have no backup. In case something drastic happens it's something of fall back onto, basically a insurance policy. It will always lag bitcoin, thats a fact.

Gold and Silver is real money too, but it is awkward to give change, awkward to carry, awkward to store, awkward to sent.....awkward

Everyone knows the fiat fake money and now is a new contender in town, PoS the little cousin.
PoS only has value because of Bitcoin otherwise no one would buy it to it and there would be a fair chance the PoS pyramid scheme would be outlawed. After all the interest payment must come from somewhere, yes the bigger fool until it collapses.

Some of us going to have a free lunch now, want to come along?
It does not matter the style of initial distribution we use, the scam nxt or Blackcoins or any other the changes are only cosmetic and the end result is the same. For the heck of it let's use the nxt style

1. Create a anonymous account on a forum.
2. Announce to creation of a new coin and ask willing participants to sent a few satoshies worth of bitcoins, not to much we dont want to scam you of the real money, just enough so we can sent you your stake when ready.
3. Tell your friends, family....... to create numerous anonymous accounts on the forum and sent up to the maximum 1 bitcoin tell em to sent lots it is worth while and as they know you, the will. Now create several anonymous accounts yourself and sent bitcoins to yourself too. You and your friends have a total of 15 bitcoins sent and the others who have sent some "dust" did sent .15 of a bitcoin combined.
4. Now create the coin and sent everyone the millions of the new coin disrupted according to the bitcoins (satoshi's) sent
5. Start buying the coins of the early "investors"  who have sent real money (bitcoin) to an aon on the internet. Yourself and your mates hold thigh so very soon the price rises and for the 100 million coins or so you sent to the early adaptors there is a real scramble. Soon the early "investors"  can show massive gains and buy more and tell there friends also about this great staking game coin.  An ever greater demand for the original token payments "dust" is happening and more and more money is flowing in.
6. Some time has past  and you have long ago recouped 1000 fold your bitcoins sent to yourself and cash out regularly as more and more new money flows in and you control 99% of available coins are the puppet-master and in full control of the market.

Some one else realizes this and starts his one coin. He has a bigger budget to play with, can create a better website, change a few parameters and very soon the coin takes of too as some sheep now follow it too, just in case.

An even bigger player follows the 6 steps above to create his coin with a fixed limited number to stake with.

Some time passes, lots of new staking coins created all limited editions, of the endless created PoS coins.
At some stage Microsoft or any other large player deceits it too will find use for another few millions in the bank account and follows the 6 steps above and when it cashes out will leave an even bigger number of bag holders behind.

Next in line is the FED, whoha what a blockbuster the best staking coin ever, the pump phenomenal, gona have to jump on that train before it leaves.
"BCNext" yeh we will follow you loyally.

By no means must you be a big player to enter this game. If you make enough noise in you neighbourhood you too will find fools who part with money easy, geed will make sure of it just throw in the burley and fish will bite.

Unlike PoW in PoS it does not matter when you start your money for nothing enterprise (creation of Proof of Stake coin), however it is to assume that sooner and not later the fools have run out of real money drying to have a stake in every new coin coming to market, because "just in case". Coins claiming to pay x interest can only to so when a bigger fool enters after all it has to come from somewhere.
All the best claiming your stake of nothingness.
The proper meaning for PoS is Proof of Scam (Po$) alternatively Proof of Stupidity.
Proof-of-stake is “fundamentally flawed”.

If someone does a honest fair amount of work and the other stands around with his hands in his pockets, who are you going to pay?

Inflation, among many other things stops new PoW coins in its tracks unless it cheats in some way to overcome it and it must be at the expense of something. The key element is how much hash power can any coin produce in the very very long term.(What is the block reward of a given coin in 50 years time). Investors (not the local gambler) will invest in a coin as long as they see growed, the coin needs a decent block reward for a long time to come.

Bitcoin is a intangible good just like your shoes are a tangible good. You will have a hard time doing any meaningful exchange of wealth on a global scale with any tangible (physical) good. Who creates a good does not matter, after all when was the last time you made your own shoe. Most people are quite happy to wear a shoe made by a multimillion dollar big company. What matters is that you can be assured fair work has been done, you can not cheat.

"The price of any commodity tends to gravitate toward the production cost" -Satoshi

10  Alternate cryptocurrencies / Altcoin Discussion / Is PoS dead? on: June 27, 2014, 07:05:45 AM
This tread has long ago been abandoned because of the updated tread (link below)

Updadet tread is here;topicseen

Proof of Stake coins have many issues here are some:

PoS is not backed by anything other than the belief there are worth anything and there will be an endless supply of PoS coins because one created today does not have a significant advantage over on created tomorrow, next week, next month.......
What currently is happening is new coins are created with PoW, mined for a week until a fixed number is reached and then change to PoS and then you can claim your stake at buying xyz coin. The only advantage a coin released today has over on made sometime in the future is; somebody already bought into it. The advantage quickly disappears if the new coin has a better catch phrase a flashier webpage or bigger marketing capital....
There is no end in sight for stake claimed coins and all promising x % return if you know a bit of programming you will have your very one coin too and everyone can buy into your claim based coin completely deluding the marked.
Its a barrel without bottom and once it clicks by the herd run for the hills if you own a stake.  
With a PoS the richer get richer. The most significant flaw of any proof-of-stake system and any system that diminishes coin rewards, is it can't distribute currency from the hoarders to the users of the currency, thus it will end up with the hoarders (the banksters) accumulating all the coin and the currency usage dying.
This is because the wealthy spend a much lower % of their net worth than the masses do.

PoS is a technological dead end. Once the coin is released the only thing to do is "claim your stake" no research, no new capital outside the buy in, no evolving industry...

PoS can NEVER remain decentralized. Satoshi's Proof-of-Work is the only known solution to the Byzantine General's Problem (was a known unsolved problem since at least the 1970s).

PoS is forbidden under Sharia law as it is interest paying

To 51% PoS is dead easy:
You start buying aggressively or "willy" style until you have 51% of a PoS coin, and then sell off your coins so that you no longer have 51%, but your history of having once owned 51% makes it possible to attack the network at any time in the future at next to no cost only some computing resources (and thus electricity costs, etc.).
As you once had a 51% stake, you can build a better blockchain than the other 49% can, starting from the point where you owned 51%. You develop this blockchain in secret, after you have sold off your coins (and profiting from it); and then release your secret blockchain to the world, and nodes will pick it up because it carries more stake than the 49% blockchain.  Now not only do you have your profit from the original sales of the coin, you have your 51% back (to the extent that it's worth anything).  Not all coins need to be in one address, in fact, doing so would prevent the attack in most PoS implementations.
Unlike bitcoin where everyone can see if anyone comes dangerously close to 51, in PoS its all hidden an attack can happen incognito.
There is no way of knowing if any PoS chain is already "dead", as it could have been attacked any-time in the past.
And then there's is also the possible social 51% attack

But then there's the social 51% attack where a tiny majority hold a massive percentage of the currency. When this occurs the market is open to extensive manipulation for the benefit of the few, as with real world economics (the 1%).

NXT is a good example of the social 51% attack, the top 33 accounts hold 51% between them. The top 50 accounts hold 61.2%. I'm quite sure the top 1% of accounts (400 ish) hold almost everything, with the other 99% playing with spare change. Source
PoW is a promise x amount of energy has been used is backed by energy. There is no better backing than energy because everyone needs it, wants it and i will never have any problem selling it. To create a PoW coin you need x amount of energy and you can not cheat. The best you can hope for is to have  a more efficient miner. Because the energy has been spent, the coin has a base value (many other things on top) and is a kind of a storage medium of it which you can exchange. Sending a bitcoin is like sending a proof-en  work done.
(The same apply's for gold digging it up, storing.....  difference is it is awkward to exchange)

The past 2 days i had a look at nxt and came to the conclusion that:
NXT is a ticking time bomb. NXT will always be at the mercy of the btctalk alias "BCNext" and his friends. The original 71 buy-in aliases just got some nxt depending on the proportion of bitcoins they sent.
As you can see he received a total of 22 btc. Since it was capped to 1 bitcoin and the biggest amount of nxt received from the buy in is 50 000 000 nxt  (top two accounts) it can easy be worked out how much the others got.
What will never be know how many alias out of the 71 accounts "BCNext" did create and then sent to himself and his mates. You have to strongly assume that he and his friends have the majority of the coins.

The second post is already talking about police and the 3rd post is quoting a post which is missing, hmm oozes confidence . It seems some posts have been deleted.
96% percent of the market it seems is in china (bter)

Crypto is all about trust, any bank is 1000 times more trusting than  "BCNext" and his friends all with hidden alias on btctalk
Greed is a bitch.[/i][/quote]
11  Economy / Speculation / Chinese Exchanges Volume past 24h on: March 19, 2014, 01:05:23 PM
(Huobi litecoin only live about 6 hours). Data from 19 March 14 about 12pm GMT

OKCoin 111,518 17,519,495
Huobi 87,234 235,109
ChBTC 33,638 24,463
FxBTC 22,905 240,578
BTCTrade 20,974 126,502
BTC100 9,228 13,287
BTCChina 4,358 212,015
BTC38 745 95,811
bter 527 70,363
 ---------- ----------  
Total 24h 290,600 18,467,260
Price   610 18
$US   177,266,000 332,410,680
US Dollar Exchanges
BTC-e 8,168 130,157
Bitstamp 8,903 0
Bitfinex 4,531 119,811
12  Local / Deutsch (German) / Bankhaus Rottmeyer Bitcoinbeitrag on: March 04, 2014, 06:33:17 PM
13  Local / Deutsch (German) / Chinesischer Regierungsberater fordert neue weltwaehrung on: February 07, 2014, 08:27:27 PM
We know this globale Superwährung
14  Bitcoin / Bitcoin Discussion / Bitcoin for Dummies on: January 18, 2014, 10:33:50 AM
Bitcoin/Litecoin is simply a store of wealth.
You can rest assured that it has value because a certain amount of energy has been used and will be used to create it and it can not be cheated. Instead of shifting mountain's of dirt to get to the Gold, the energy is used for mathematics to get to the Cryptocoins. Golds primary use is to dig it up only to be bury it again (7 story underground in a vault)
It does not matter when you buy a quality coin as long as you're not in a rush to sell you will come out in front. There is no such thing as the price is to high now i missed the opportunity, it will only rise as ever more energy is used and more people store the savings in a save heaven like Bitcoin.
How much the individual coins are worth depends on a lot of things. At the forefront is how much energy has been used this far, then how good the code is and the developers working on it. Also you must have the confidence  that the coin will still be around tomorrow, next week and long after you are gone. A "cheap" coin simply means that little energy has been spent so far or a lot of coins will exist or a combination of it. If the code is just a copy/pasta and/or little development or pre/instamined  also affects the price of course.
XRP's to a terrible job of storing wealth its like holding sand in your fist there are by no means useless but just not a wise choice to store  wealth.
Proof of Stake (PoS) is something in use by the stock-market for hundreds of years and is nothing new.

To shift wealth to anywhere in the world safely cheap and efficient or simply store it, or to buy your super yacht your house or simple have a reliable retirement plan the aforementioned coins will get it done way way better than any savings account.
15  Alternate cryptocurrencies / Altcoin Discussion / A 100 worth of Litecoin a year ago is worth 30000 today on: January 13, 2014, 07:11:21 PM
16  Economy / Service Discussion / BTC China just released notice and its all very good news on: January 08, 2014, 11:24:57 AM
So depots, withdraws are working, talented people will be recruited, investing in innovative products and services, full 24/7 support.......
Full steam ahead, dont look like immediate shut down.
17  Alternate cryptocurrencies / Altcoin Discussion / The app everyone was waiting for has arrived on: January 05, 2014, 03:01:06 PM

So there the come the:
RepublicanCoin, DemocratCoin, LiberalCoin, NationalCoin, GreenCoin, SSCoin...........
ManU Coin, YankeeCoin, BroncoCoin, LakersCoin, FIFACoin......
BuddhaCoin, AllahCoin, JesusCoin, ScientologyCoin.............
CataloniaCoin, ConfederacyCoin, FlemishCoin, CascadiaCoin, TexasCoin......
ElvisCoin, JustinCoin, OprahWinfreyCoin, CyrusCoin.........
TikTakCoin, DorritoCoin, RedBullCoin, CokeCoin.......
PuddleCoin, BudgieCoin, HorseCoin, WurmCoin, MosquitoCoin....
WillyDickCoin, SmurfCoin, HulkCoin, Dagobert DuckCoin..........

Get the miners ready they will be damn busy
18  Alternate cryptocurrencies / Altcoin Discussion / Quark, Ripple Doge and co on: December 24, 2013, 03:00:58 PM
Will this beggar coins have any staying power or are this pre/instamined coins just here for the quick money grab by taking advantage of the not so well informed members in the community. Are we going to see coins being released with even larger maximum number of coins?
When will the first build your one coin app appear so everyone can have his one private coin?
Do the add value to bitcoins cause or are the just spam?
When will Duckcoin (Donald Duck) arrive?

With some of the deals available you have to ask "is it five before midnite"
Wow such value 1 doge for 1 dollar (or is it 1 doggy for another one)
19  Bitcoin / Press / New Hong Kong Exchange 796 online from 14:00, December, 6 for USD on: December 17, 2013, 10:08:41 AM
Users will be able to buy and sell Bitcoin at 796 Exchange from 14:00, December, 6th, 2013 (GMT +8) using US dollars. We would like to encourage as much participation in the new BTC/USD market as possible, so we will initially launch with zero trading fees. Users can deposit/withdraw through International Wire Transfer and OKPay. More deposit methods will be added soon. We’ve also added an internal transfer feature to better serve our users, especially those who have difficulty depositing USD. We’re working hard to provide Bitcoiners all around the world with a stable, reliable and comfortable trading experience, as well as quick response customer service.

Money service license from Hong Kong customs
20  Bitcoin / Press / India’s authorities are allegedly preparing a public advisory on: December 09, 2013, 06:37:33 PM / By Nermin Hajdarbegovic / December 9, 2013 at 16:10 GMT

India’s authorities are allegedly preparing a public advisory to warn against the risks associated with emerging digital currencies.

The problem is not with the digital currencies themselves, but some worrying trends involving bitcoin and other cryptocurrencies.

Indian regulators are concerned that increasingly popular bitcoin investment schemes could become a source of volatility, eventually turning into an electronic version of investor fraud.

An unnamed senior Indian official told the Press Trust of India (PTI) that a public advisory may be issued soon to warn against the “possible risks associated with bitcoins”. The official said:

“Regulators are scrambling for ways to regulate this entire gamut of digital currency, as it is a totally new concept in India, and even the jurisdiction is not clear as yet on who should regulate them.”
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