It can create one right now, but who is going to support it? Bitcoin has become so popular only because it is decentralized. Even if people within China accept it for daily transactions, it would be useless outside China. No possibility of remittances or international payments.
Rumors about governments issuing their own concurrency were around for a long time already, but so far it's just rumors. However, even if they will emerge in the future, I think their role would be to be a decoy to distract people from the real cryptocurrencies. Some Bitcoin opponents realize that people are no longer buying "Bitcoin is a fraud and bubble" narrative, so they try to sell "blockchain not Bitcoin" instead, and we as a community should explain to newbies the difference between decentralized and centralized blockchains. Because governments are slow as hell in adopting innovative technologies. You would be completely embarassed if you would see the kind of software that even 1st world countries use in certain government agencies. I think we will eventually see the first real government-issued cryptocurrency, but it will probably be in 5-10 years. |
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Isnīt the reason for the popularity of Dash caused by a flawed
incentive system?
Every masternode owner owns at least 350000 $ in Dash at the current
price (and many people own not only one masternode, but many) and therefore
is hugely incentivized to promote and shill Dash everywhere.
Besides, all these DASH that are locked up in masternodes canīt easily
hit the market.
I like DASH in general and also own a few, but I wonder how much
of the price rise is genuine and how much is due to price manipulation
and shilling by masternode owners with a huge stash of DASH.
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Since ethereum will goes to pos phase there is no way ethereum going lower. It will goes up. When pos phase begin no 9ne can mined it and every body would like to buy ethereum for POS, only 100 million in circulation and ised for POS, making smart contract, doing ICO, investing in some ICO.
How ypu think ? Large demand and low supply.
I think Proof-of-Stake is technically unviable in the long-term. This will be a big failure and will destroy many investors. This is also the reason why Vitalik and the other Ethereum developers keep postponing the switch to PoS. They have far too many unsolved - and maybe unsolvable - issues that need to be dealt with. Besides, none of the current Ethereum developers comes close to Satoshi Nakamoto in terms of ingenuity. ETH had a nice run in 2017, but 2018 will be remembered as the time when ETH finally disappeared in the abyss. |
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What's mainstream in your opinion? Granny buying her groceries with BTC? That's NEVER going to happen... BTC is already mainstream. They talk about it, invest in it, troll it... 2013-2014 we celebrate at just the mention of bitcoin. Now its all over the news... everyone is talking about it.
I agree that Granny will never buy her groceries with BTC. But you probably agree that the whole generation of Granny will - with a few exceptions - be dead sometime in the next 10-20 years. Younger generations are much more tech-savvy than the Granny generation. I would measure mainstream adoption in terms of transactions per day. Currently we are roughly averaging 250k transactions per day according to: https://blockchain.info/de/charts/n-transactionsI would argue that BTC hit mainstream adoption when we see multiple million transactions per day on average. |
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A study like that would never get funding (or ethical approval, probably), but we can hypothize easily enough: it takes a minimum level of smarts to understand bitcoin and money at the same time and to operate both safely. Done and done.
As for the chart, classic pareto distribution (pareto is now a word, spellcheck. no i did not mean to type potato.). It seems like a law of nature. Jordan Peterson talks about it, fascinating stuff.
I agree that the topic of the study would be too politcally incorrect in order to get funded  However, I disagree with the second part of your statement. In order to use Bitcoin you donīt really need an outlier IQ. A person with a slightly sub-average IQ (letīs say 90) may not understand the technical details of Bitcoin, but will be able to operate a Coinbase account or a blockchain.info wallet. The same is valid for sites like Circle where the user of the service may not even be aware that the whole project is based on Bitcoin. Yes, pareto distribution is really a fascinating topic! |
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I'm gonna leave a mark here and see it again after a few months,i hope the coin you mentioned will be on the moon later
And it will be nice if you updated some detailed info about the coin you mentioned like events and such
AWESOME! Keep in mind how new the crypto space is. We, as a whole, need to think of long terms holds as over 3 years, not over 3 months. Blockchain will take 2-5 years to reach mainstream adoption and the companies that are around then, will see huge value . BTC was released roughly 8 years ago. How do you reconcile this with your claim that blockchains will take 2-5 years to go mainstream? If that would be the case we would already be at mainstream adoption. In my opinion we need to wait with mainstream adoption until 2nd layer solutions - like the Lightning network - will prove to be technically viable. Another important part of getting ready for mainstream adoption is increasing the simplicity of the user interfaces of the popular Bitcoin websites and wallets. |
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... Satoshi held - and is holding, I suppose - himself to a nearly inhuman standard of behavior in terms of refusing to give any remotest hint of possibly scamming anybody. That's the answer for those who believe that Bitcoin is a scam/ponzi scheme etc. That article is really amazing. The two things that fascinate me the most about Satoshi are: -his ethics and his wisdom to withdraw himself from the project to truly give it the chance to blossom -his genius as showed in getting right the incentives for miners, nodes and all other participants If Satoshi would indeed be several persons instead of a single individual, the ethics part would even be more rare and astonishing. |
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Letīs get back to talking about Bitcoin. This IQ discussion is not really relevant to the BTC/USD price. Unless someone of you would link a study that shows a correlation between high IQ and a large stash of Bitcoin. Talking about large amounts of BTC:  This graphic really illustrates how many BTC some of the early adopters own. Some crazy other stats as well! What are your thoughts on this distribution? |
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Thank you for your replies! The reasoning behind my concern for minimum order size is caused by my lack of programming skills and experience with the Bitfinex API. Iīm just getting started with building an application (a very simple one) that makes use of the BFX API and therefore want to start with as little mBTC at risk as possible. Do you know by any chance in which language bfxdata.com is programmed? This site really illustrates how potent the BFX API can be in my opinion. Is it sensible to use one of the Open Source libraries linked at: https://docs.bitfinex.com/v1/docs/open-source-libraries ? E.g. the Node.js library? |
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US President on Jan 1st 2018
Trump available @ 1.076 at the time I am writing. There's some value here, Betfair has it @ 1.059.
People might not want to lock up their BTC until Jan 1st for only 7.6%. The 7.6 % are on top of the potential BTC price increase. Unfortunately, the liquidity on the Back side seems to be gone already. Therefore at the moment you can only bet against Trump being still in office at the beginning of 2018. |
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This is more problematic that it seems. This opens wide doors for scammers and illegal activities. And this should worry us, cryptocurrency community as well. Just imagine how easy it will be now to make a scam ICO. Many ICO developers try to stay anonymous so they can scam people and avoid sanctions. If they register website with full name we could track them down this way, but if they register anonimous domain, scammers will avoid sanctions even easier.
Options to register a domain anonymously (e.g. WHOIS Protect) have been around for years. This new service by the Pirate Bay founder is not really a new thing. The guys, who want to run a scam ICO already had the possibility to stay anonymous before. I was rather surprised by the fact how many different domains they are offering. |
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Oh, and won't we have at least two significant Japanese miners coming to join the party? Will they make it before November?
I highly doubt they will make it in time. They are just starting to develop 7nm and 5nm ASICs and I imagine that this development alone will take several months. Besides, they need to set up locations where they can run all of the hardware and negotiate favorable conditions with the municipalities and the local electricity companies. They will probably enter the mining arena in 2018. |
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I find it interesting that all the regulators always talk about terrorism
financing as a reason for regulating anything related to money transfers.
However, in the case of Bitcoin I have yet to hear of a single case where
Bitcoin was actually used to finance terrorism. Until this has happenend
this whole terrorism financing thing just seems like a convenient pretext to
me to justify regulation.
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Even during the past splitting majority of the users were speculating that the price will lower, but the reality took place in the opposite manner with the price drop taking place to smaller extent and then suddenly the pumping took place taking it as high as $4900+, maybe the same situation happens with the upcoming November splitting.
Your comparison is not really helpful, because this time the majority of miners actually support the hard fork (or at least signal that they support it). In the case of Bitcoin Cash that was not at all the case and the big mining pools only mined it after gaming the emergency difficult adjustment. In my opinion the big exchanges will be the deciding factor in terms of which chain will become the main BTC blockchain. This is caused by their control over the desired BTC ticker symbol. |
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My initial investment was $25,000 for 100BTC, so if BTC plummets to $500, I'm out. Conversely, if BTC hits $10,000 I'm paying off my mortgage with 5BTC and HODLing the rest. Again, thanks for the info, guys!
The correct answer for your personal situation depends heavily on your jurisdiction and especially the terms of your mortgage provider. There may be obstacles that you currently donīt see at all, like penalties for early repayment of your outstanding mortgage or other legal issues. In my country there are several mortgage providers where you arenīt allowed to repay your mortgage before completion of a fixed time-length. |
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According to an old Wall Street saying, "Financial markets are driven by two powerful emotions, greed and fear." The same applies to Bitcoin, in a highly volatile free market, if you ignore the fundamentals and rely on short-term profits, FUD happens, fear happens, instant reaction is to sell at whatever price. Panic sellers.
Good thing, greed or a better term, hope. A panic seller's loss is another hopeful person's gain who relies on fundamentals and has a broader long-term view.
The Chinese FUD ain't over yet.
Financial markets are heavily influenced these days by trading algorithms and bots - two things that donīt have emotions like greed and fear and never panic. Financial markets therefore have changed tremendously in the last 20 years and are not comparable at all to the traditional financial markets at the beginning of the 20th century. |
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6) Rakeback-Per-Session! - Check out your rakeback on the fly on every table your sitting on. Rakeback accumulated will be automatically relocated to your
balance the following day. Up to 50% RAKEBACK!
...
I have a question regarding the rake. Have you already decided on a rake structure? Up to 50 % rakeback sounds great obviously, but it would be interesting to know the exact rake percentage for the various stakes and the rake caps. Iīm sure you could steal some of the traffic from the other bitcoin poker sites, if UltimateBit is competitive in terms of rake. |
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Have you considered adding a light theme for the site? The current site design
is really hard on the eyes in my opinion (it doesnīt look bad, but the choice
of colors is not optimal for many people).
Besides, it would be an improvement to standardise the amount
of decimal places in the buy and sell rate columns.
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