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1221  Economy / Economics / Re: Is President Trump good or bad for the economy? on: June 14, 2018, 02:04:18 PM
US economy is too large, so it is moving by itself. Even President Trump without changes in laws, can not do something for so large ecnomy. But changes in the laws is not in the hands of president. He can speak at US congress, but that's all what he can do.

That's true, but I'd say the recent trade wars can have potentially drastic effects, and he's obviously primarily responsible for them. He's single-handedly alienating allies too lol. That being said, it's hard to really see how he affects things because there doesn't seem to be a healthy middle when it comes to his public perception (and policies, for that matter). Everyone seems to be completely hostile against him or has their nose up his ass, so you have to take what they're writing with a grain of salt.

I don't think the US economy is in any danger of an imminent collapse, but if I were a resident, I'd start diversifying. Bitcoin's pretty cheap so now is a good time lol.
1222  Bitcoin / Legal / Re: Why Ban Cryptocurrency with Zero Research or Consultation? on: June 14, 2018, 01:51:52 PM
It's possible they don't have the resources for research and have deemed that it would be more beneficial to simply not deal with it. This way, they minimize the potential harm (in their minds at least), and keep collateral damage to a minimum because not many people use crypto anyway. It's an incredibly irresponsible move for sure because governments at least have to do their due diligence.

I'm guessing most other countries that have banned it haven't done much research either. They likely got caught up in the ponzi and bubble talk. It's sad, but I believe they'll come around once crypto's utility fully establishes itself.
1223  Bitcoin / Bitcoin Discussion / Re: Bitcoin losing value is nothing surprising, will continue on: June 13, 2018, 01:18:50 PM
I completely agree that Bitcoin won't be the sole global currency as many would like to believe, but that doesn't mean that it can't exist as a global alternative. It already does cross-border transfers better, it can do fees better, and being different from fiat means owning some is akin to diversification, among other things. It hasn't lived up entirely to its potential yet, but I see no reason to declare its death just because of a little crash. It's going to survive for as long as it has a workable niche.

You're right though, I don't think Satoshi ever meant it to replace all currencies at all.
1224  Bitcoin / Bitcoin Discussion / Re: Take your Bitcoin out of exchanges now! on: June 13, 2018, 01:06:16 PM
I'm not saying this isn't possible, but do you have any proof that this manipulation is happening and that it's the cause of the crash? I don't mean this as a slight, I'm just genuinely curious. My personal opinion is that we're simply in a bear market after the huge December rush, so price drops like this (which isn't even very significant) should be expected here and there.

Either way though, it's a bad idea to keep Bitcoins in exchanges for other reasons, so I agree with that part completely.
1225  Bitcoin / Legal / Re: How deal with US SC regulations? on: June 13, 2018, 12:49:56 PM
As far as I know, you can't be penalized by participating in an ICO as a US resident even if US residents are not allowed. You are, in effect, waiving the SEC'S protection though, in the event that you get scammed or something similar. So basically, you can do whatever you want (if you somehow pass KYC and/or IP screening), but you're on your own.

That being said, you can't have the best of both worlds unless you're an accredited investor, as one other user has mentioned.
1226  Other / Beginners & Help / Re: Guys another project x100 or scam? on: June 13, 2018, 12:28:13 PM
You obviously have a lot of ideas, but man is that a huge wall of text. You need better formatting man lol. Trying to separate them into paragraphs would improve readability by a lot.

But yeah, I did a quick Google search of Bob's Repair and stumbled upon this review:

https://www.tokenicide.com/review/ico-review-bobs-repair/

Here are my personal takeaways:

  • the concept is hardly revolutionary
  • they hired McAfee then booted him (lol)
  • their whitepaper was kind of sloppily made (but they may have fixed that since)

It doesn't inspire a lot of confidence in me, but I've been wrong about stuff like this before and I'm basing my opinion on a single review. What I know for sure though, is that you shouldn't be basing your decision on people saying its value will grow 10x, 100x, or 1000x, because it's all speculation. If you've done your homework, acknowledged the risks involved (the odds are generally against you in ICOs), and still want to go through with it, you probably should.
1227  Other / Beginners & Help / Re: Help the newbies: TOP CRYPTO PEOPLE on: June 13, 2018, 12:17:41 PM
Wow that's a massive list. I don't even know most of these people lol. Still, great effort!

One thing I would like to note for newbies though, is you should never take any of these people's words as gospel. They may be more knowledgeable than the average person, but they also likely have more to gain by trying to sway public opinion. It's always nice to be informed, but you should always try to reach your own conclusions, especially in crypto.
1228  Bitcoin / Bitcoin Discussion / Re: 51% attacks on: June 12, 2018, 03:14:04 PM
Well Bitcoin has "solved" it by attracting absurd amounts of hashpower, so it's going to be more of the same thing for PoW coins.

PoS might be a little more resistant to 51% attacks depending on the variables, so that's another solution that may be considered. Either way, the goal is to make it economically unfeasible.

As for the problem of buying Bitcoins with coins obtained in a fraudulent way, well there's not much that can be done to stop it given Bitcoin's irreversible transactions. Victims of double spending, specifically, could probably take legal action though, so that could act as a deterrent for such attacks.
1229  Economy / Speculation / Re: Bitcoin Price Drop: Is this the Best Time to Buy? on: June 12, 2018, 02:36:00 PM
One of the most significant questions remains what to do next – join the selloff brigade, hodl, or buy more Bitcoins?

It really depends on a person's specific situation, but selling (at a loss, especially) is objectively the worst thing you could do at this point. This dip is temporary, like many others before it, so you should absolutely wait for a better deal if you really have to sell. It's not even a gamble because it's basically inevitable.

But yeah I'm not entirely convinced we have bottomed out at this point, so prospective buyers may want to wait a bit because they also might get a better deal soon. Not that now isn't a good deal, of course, because it really is.
1230  Other / Beginners & Help / Re: Recover Bitcoin Cash on: June 12, 2018, 08:06:20 AM
To add, there is a modified Electrum client for Bitcoin Cash, so you don't have to adjust to the interface anymore:

https://electroncash.org/

You're lucky you own the address you sent to, because I doubt you'll be able to recover it otherwise. Be careful next time! I'm also assuming you sent it to a non-Segwit address, because you may not be able to recover it otherwise but I could be wrong.
1231  Other / Beginners & Help / Re: How to find ICO team member's fake or real. on: June 12, 2018, 07:43:16 AM
Lmao has anyone actually exposed an ICO for using stock images for their founding members? I wouldn't put it past them, considering how many of them are scams, but it would be hilarious to have an actual example we can point to.

That being said, once this gains traction and scams are exposed, they'll start not using pictures at all lol.
1232  Bitcoin / Legal / Re: Is the attack "51%" legal? on: June 08, 2018, 09:32:21 AM
-snip-

Exactly. There are no laws that limit an individual's (or a collaboration of individuals) hashpower relative to everyone else's. A single company could take control of 90% of Bitcoin's hashpower and there would be nothing intrinsically wrong with that. It only becomes illegal once the people in power use that power, well, illegally. Double spending is fraud, so that's definitely illegal. Other things though, like rejecting transactions may not be, depending on how they're construed.

I don't even think there will be any laws ever that would prevent anyone from grabbing 51% control of any crypto, because the way they work already kind of discourages it. If anyone started to hold like 45% of Bitcoin's hashpower, for example, people are going to drop it and it's going to lose its value, making an attack counterproductive (and that in itself is the consequence you're asking about). These only usually happen to small coins which can be 51% attacked with minimal resources.
1233  Economy / Economics / Re: Blockchain as a solution to inequality? on: June 08, 2018, 09:16:53 AM
I think the article is a piece of rubbish.

It's an article that promotes a certain project called Pool of Stake. The article talks more about solutions to blockchain inequality rather than using the blockchain itself to address inequality lmao. It's clickbait.

To answer the topic's question though: I seriously doubt it. It's an extremely tall order considering inequality is a problem as old as humanity itself. It's a social issue that cannot be addressed by simple software implementation. It could probably have micro effects on isolated fields though, depending on what it's used for.
1234  Economy / Economics / Re: What do you think of Voltaire quote about paper money? on: June 08, 2018, 09:05:11 AM
Voltaire said:
Quote
Paper money eventually returns to its intrinsic value -zero

What do you think of his says? We concretely see big inflation rates inside many countries but can this really lead to zero value?The biggest inflation  rate I saw was in venezuela which resulted a huge crisis I wonder how governments manage this.

It's true. I see a lot of people were so quick to point out the dangers of inflation and how governments control everything, etc., and while I completely agree, I feel like it's being blown out of proportion. Fiat is inflationary by design, after all.

But yeah, as with most other concepts though, the devil is in the details. In this case, you're going to have to take a look at the actual time period covered by the word "eventually". USD, for example, has existed way before any of us were born, and while it has lost a lot of its value since then (keep in mind that this literally took centuries), its value is far from zero, and it's unlikely for it to reach zero in our lifetimes. Healthy economies generally don't need to worry about hyperinflation.

Bitcoin, on the other hand, is deflationary, but like fiat doesn't have an intrinsic value. I would love for Bitcoin to take over the future and would actively root for it, but until that day actually comes, I'd say paper money is generally still safer in most cases. I don't see this changing until the general public starts accepting Bitcoin as an actual currency rather than an investment asset.
1235  Bitcoin / Bitcoin Discussion / Re: Will atomic swaps replace crypto currency exchanges? on: June 06, 2018, 01:30:42 PM
Yes you do have a valid point as it beingi a life enhancement which I do agree as well, but what if security concerns overrides this then does it not become more of a necessity?

Maybe? It should be noted that exchanges are a security concern now, and yet people still risk their money with them. It's not like peer-to-peer trading is completely safe either -- the one who sends first is at risk, etc. It all depends on the individual which method he finds riskier.

In the end, the method which manages to be proven better will win more users. It's hard to say which is better now because the other half of the comparison doesn't even exist yet, so while I'm somewhat skeptical, I would prefer to wait and see.
1236  Bitcoin / Hardware wallets / Re: Is hardware wallet can be hacked? on: June 06, 2018, 01:17:04 PM
There have been no reported cases of a hardware wallet being hacked remotely without tampering.

Hardware wallets are offline in a sense that they never expose your private keys outside the device itself (the device itself signs your transactions so it never needs to be exposed anywhere else), so unless a massive exploit is able to change that somehow, they're going to be impossible to remotely hack into. They could possibly be cracked with physical access though.

So yeah, to summarize, it has been impossible to remotely hack a hardware wallet thus far, but that can change at any point in the future. They're one of the safest ways to store your crypto, but always keep in mind that you should never be storing all your eggs in one basket.
1237  Bitcoin / Bitcoin Discussion / Re: Will atomic swaps replace crypto currency exchanges? on: June 06, 2018, 01:04:55 PM
It's certainly awesome technology as far as trading goes, but I don't think it will kill off exchanges at all. Some people dislike peer-to-peer trading because it's usually less convenient than buying/selling at an exchange. Bitcoin trading, for example, don't necessarily require the use of exchanges anymore because so many people are buying and selling it via platforms like Localbitcoins, but people still seek them anyway.

I'm not sure if it will make trading drastically different as I see it more of a quality of life enhancement (it lets you save escrow fees, exchange fees, and time, etc.) rather than an actual necessity.
1238  Bitcoin / Legal / Re: “Asset with Measurable Value”: South Korea Supreme Court Recognizes Crypto on: June 06, 2018, 12:08:48 PM
The courts are part of the judiciary not the government though. The government makes the laws and policy etc and the judiciary applies those rules.

I agree, but this potentially sets judicial precedence (or common law), so any future cases, and even their legislative branch, at this point in time, should acknowledge the fact that Bitcoin is formally recognized as an asset with measurable value until a law is passed that says otherwise. It's pretty big for people who get scammed out of their Bitcoins because the court would formally recognize that they were defrauded of something with actual worth.

Making litigation easier and less vague is beneficial (though not towards acceptance) for their citizens. It's also quite literally acknowledgement because the courts have ruled that it as an asset with value. Their government itself has already treated it as such by proceeding to seize the 191 Bitcoins ruled to have been earned illegaly.

Either way, we seem to agree that the ruling doesn't really bring South Korea further as far as government acceptance goes, so let's just agree to disagree on the other points.
1239  Other / Beginners & Help / Re: Help comunity with computing power on: June 06, 2018, 11:29:50 AM
Thank you for your time.
I have one more question, is there any cryptocurrency whichs effectiveness, speed, trust is somehow related to bandwidth speed?

There are none that I know of. Cryptocurrency, at its core, is just money. There's no reason why it should be dependent on bandwidth speed. If nothing else, their clients should work perfectly under the slowest of conditions.

In the off chance that you're referring to mining, however, you might be able to find something.
1240  Bitcoin / Legal / Re: “Asset with Measurable Value”: South Korea Supreme Court Recognizes Crypto on: June 05, 2018, 02:47:40 PM
Again I would say that this statement from Hong Sung-Ki, was more of a clarification of the current position and doesn't add anything either way.

I wouldn't say it doesn't add anything. It's surely a baby step as far as Bitcoin actually getting accepted goes, but it does garner actual acknowledgement from the government and it makes crypto less vague from a legal definition standpoint. It doesn't make a huge difference at all, but it's something.

I do agree it's not exactly news worthy though. There have been so few developments in the crypto world lately that people just seem to sensationalize everything they can get their hands on.
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