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1561  Alternate cryptocurrencies / Altcoin Discussion / Re: Bitcoin vs Bitcoin Cash on: April 02, 2018, 03:59:27 PM
On every count Bitcoin beats Bitcoin Cash so the question arises, what was the point of creating Bitcoin Cash?

I'd like to believe that the point was to go in a different direction as far as scaling is concerned. As you know, Bitcoin Cash is spurning sidechains, and instead went to the big block route. I'm fairly sure there are different motivations at play though, with some probably even outweighing the scaling reasoning. It's an interesting project, but I don't like how they market it.

I believe Bitcoin will be the last coin standing simply because I believe in sidechains' potential, but I guess we'll never really know until we could get to the point where we could say for certain that a scaling solution is better than the other.
1562  Economy / Speculation / Re: What’s the % of BTC owners and users in the world? - Here’s my take on it! on: April 02, 2018, 03:48:19 PM
So I think the real crypto users are just a few millions. The technology is still too complex for ordinary users and mass adoption. You grandma could use a CC, but crypto? Or even your parents?

If you think about it, it's not that complex. All you need to do in most situations is copy + paste. It's certainly a little more inconvenient than the technology we're used to, but I wouldn't say it's complex. Even a grandma who could operate a computer should be able to get the hang of sending and receiving transactions in just a few hours.

But yeah, that being said, the current generation and the succeeding ones should fare far better, and is more likely to be attracted to Bitcoin. Maybe all it really takes is time.
1563  Other / Beginners & Help / Re: Best wallet? on: April 02, 2018, 02:01:29 PM
what is the size of the file? Gigabyte?

Around 200 gigs if I'm not mistaken. It's probably the best desktop wallet available if size and download time aren't primary considerations. You get to run your own full node too, so that's a plus.

Otherwise, you can't go wrong with Electrum or the more popular hardware wallets.
1564  Bitcoin / Legal / Re: Cboe urges U.S. regulators to move forward with bitcoin ETFs on: April 02, 2018, 12:30:14 PM
I honestly believe it's just a matter of time until Bitcoin breaks into ETFs. It has already broken into futures trading, after all, which proves that the traditional financial sector has started to recognize its legitimacy. The SEC's argument against it also seems rather weak, too, so it's not like they have any massive concerns.

The question would be: what effect would this have on Bitcoin? People can't seem to agree if futures helped or not, so I imagine ETFs' effects wouldn't be black and white either.
1565  Other / Beginners & Help / Re: how to protect their BTC from robbery? on: April 02, 2018, 08:42:27 AM
Anonymity and its preservation is really the best way to protect yourself. Non-targeted attacks are fairly easy to work around. Targeted ones can be tricky, because they can vary from simple phishing links relevant to your identity to actual physical assaults. The good news is that if no one knows that you're in crypto, you can't be targeted. Make sure you preserve your anonymity by keeping your software up to date and your computer clean. Use trusted VPNs, and don't give your info away to bounties etc. carelessly.

What high profile targets usually do is keep their cold storage in secure locations away from their person. Honestly though, you probably need to be a crypto millionaire to even begin thinking about such a precaution.
1566  Other / Beginners & Help / Re: 2FA - Important Precautions with Google Authenticator on: April 02, 2018, 05:21:23 AM
+1 don't use any SMS-based 2FA.

This is what happened last year when a user decided to protect his Coinbase account with text message verifications:
https://medium.com/@CodyBrown/how-to-lose-8k-worth-of-bitcoin-in-15-minutes-with-verizon-and-coinbase-com-ba75fb8d0bac

That's ridiculous. It looks more like a problem with Verizon's protocols than with SMS verification as a medium though. Still, this shows that there's more that could go wrong with it, and that you shouldn't use it when you have better alternatives available. I'd still say it's more secure than nothing though. Just remember that it's far from bullet proof as a security option.

As an extension, you should never keep your money on exchanges either. People seem to refuse to listen though. Exchanges bypass the cryptographic security built in with crypto by taking control of your private key, so it's just a bad idea no matter how you look at it.
1567  Bitcoin / Bitcoin Discussion / Re: Is BTC an Anti World Bank? on: April 02, 2018, 05:11:18 AM
Bitcoin was never meant to replace banks. It's simply there as an alternative. Sure, banks keep your money for you like you keep your coins, but the similarities end there. That's why there's no sense in comparing the World Bank's duties to Bitcoin; Bitcoin is meant as a currency, and the World Bank funds programs for loans. They couldn't be any more different.

You can make money off of Bitcoins, sure, but you can't take loans from it itself. You can take loans in Bitcoin, but you'd have to rely on a central authority or other individuals, which isn't that much different to borrowing from banks.
1568  Other / Beginners & Help / Re: decentralized v centralized on: April 02, 2018, 04:59:20 AM
Why wouldn't every ICO want a decentralized platform since it seems to be the safest and automated?

Well if you're starting an ICO and you want control over your platform, centralized would be the way to go. The farthest you could go with a decentralized platform is manipulation, and that gets harder as your project grows.

That being said, the reason above is also why customers usually prefer a decentralized platform; you don't have to fear censorship, etc.
1569  Bitcoin / Legal / Re: Bitcoin being deemed an Illegal tender- What's the potential aftermath and uses? on: April 01, 2018, 02:57:00 PM
It's been termed as an illegal tender is nothing short of lack of knowledge on the part of government and it's weak research Conducted towards discovering what it stands for. The aftermath and it's usage is super beneficial to its users and I tip it to be used as the only secured means of transaction. My question is can any good thing not have it good and bad? While the outcome of everything depends 9n the mindset of the users and what they intend to make out of it.

Out of the countries that have deemed it illegal in transactions, none has to do with research or knowledge. They simply have laws in place that state that only their currency can be used in transactions.

They're not even discriminating against Bitcoin; they simply don't want people using anything else, including USD and others. Look at two of the most popular cases: Indonesia and Vietnam. People seem to think they're automatically specifically anti-Bitcoin/crypto for banning it for payments without bothering to do their research.
1570  Bitcoin / Bitcoin Discussion / Re: Be careful of stupid investors on: April 01, 2018, 12:49:15 PM
I don't see people screaming buy, buy, buy, though. What people usually say is "buy the dip", which is coincidentally what you're saying is smart. Few people would disagree with you if you tell them that they should buy low and sell high -- the trick is in the timing.

I would argue against not holding, but pretty much every evidence we can come up with would be anecdotal, so I'll just agree to disagree. I would just like to point out that trading is not for everyone.
1571  Bitcoin / Bitcoin Discussion / Re: Positive News about Bitcoin(All UK golf clubs must accept bitcoin by July) on: April 01, 2018, 12:39:09 PM
Okay, so, I'm not sure if you're being sarcastic or you're riding the wave or something, but I'm fairly sure that this is an April Fools piece lol.

Quote
The measure is intended to make the game more accessible and attractive, especially to the ‘big four’ – the key groups under-represented in golf participation: computer programmers, speculators, libertarians and criminals.

This made me chuckle so hard lmao. But yeah, Bitcoin users are still obviously being pigeonholed into stereotypes, despite this being a joke article. I can't wait for the day when being a Bitcoin user would be considered commonplace.
1572  Economy / Speculation / Re: can anyone here could be able to stop the bitcoin fall down of market price? on: April 01, 2018, 12:13:26 PM
The bitcoin continue to drop of its market price and some of the members or investors here are having a panic that bitcoin may end already. This is not usual happening since bitcoin is always raising its price even after its market price drop. it is indeed very unusual for this event of bitcoin to happen.

Lmao, the bolded part literally always happens. Weak hands panic whenever the price dips with little to no exceptions. It's like a universal truth at this point. On the other hand, a rising Bitcoin price prompts people to ask when it will reach $100k, or the moon, or whatever. At the end of the day, everything is just noise, and people simply react to where the price is going.

Other than that, while things are looking bad, it's only because of Bitcoin's historic rise. You have to remember that Bitcoin went from around $6k to $19k in a couple of weeks; you may consider that a bubble, and if so, then you can look at it from a perspective that we're back to the level before it started.

Bitcoin will be fine. There's no need to stop the slide artificially or anything of the sort. It's more popular than ever, it's suitable for payments, Lightning Network is starting to roll out, etc. etc. If you believe in the vision and the technology, you have nothing to worry about.
1573  Other / Meta / Re: New new rank requirements on: April 01, 2018, 06:13:53 AM
Goddamn it, I knew I should have been calling people sir more often. I'm so sorry sirs.

I also hope my use of the word "goddamnit" doesn't affect my already low virtue score.

Sir, please explain to me what is Virtue?

The seven virtues are chastity, temperence, charity, diligence, patience, kindness, and humility. Any true Bitcoiner will fully exemplify all seven virtues, of course.

Wait, chastity? Does this mean everyone who's had premarital sex is automatically disqualified from ranking up??? This is so unfair!!!

But yeah well played sir theymos lol. Happy April Fools everyone!
1574  Other / Beginners & Help / Re: How is exchange's wallet structure? on: April 01, 2018, 03:11:49 AM
The simplest way I can explain this is that in most exchanges, you don't actually own the addresses assigned to you. Your account balance is independent from your address balance. If you deposited Bitcoins to your receiving address, it just tells the exchange to credit that many Bitcoins to your account; this is obviously done off-chain, and the Bitcoins in that address don't belong to you. Trading internally only affects the balance credited to your account, while the coins traded stay where they're stored. Coins only move when you take them out of the exchange.

Think of it like banks. If you deposit money in a certain branch, that doesn't necessarily mean it's going to stay there. They are absorbed by the bank system, and they simply credit your account. If, say, you decide to transfer money to a certain person who has the same bank but is based on a different branch, they don't actually physically transfer money; this is done internally by deducting that amount from your account and crediting it to the other person's account. Money only really moves when you take it out.

I hope that was a clear explanation.
1575  Other / Beginners & Help / Re: i cannot get coinbase to verify my photo ID, no matter how hard i tried on: April 01, 2018, 02:54:45 AM
theres no camera, im taking the photo of the ID thru my cell phone where i have coinbase downloaded. wouldnt the easiest way to get it to work be to find someone in vegas whose successfully did this, and give them enough money to make it worth their while to meet up in person and assist me with whatever im not doing correctly? ive given up on support i'm not smart enough to figure it out without the help of a friend with me in person.

I guess that would be the easiest way, but there's really only so many ways you can take a photo with your ID. If you're doing it correctly and for some reason, you can't get it to work, it's unlikely for anyone else to get it to work as well. If you're completely stumped though, I don't see why not.

Anyway, what exactly is being asked of you? Just a photo of your ID? Have you tried using a different ID?
1576  Other / Beginners & Help / Re: i cannot get coinbase to verify my photo ID, no matter how hard i tried on: April 01, 2018, 02:42:42 AM
Maybe your camera isn't good enough? Don't you need to take a photo of yourself with your ID? If your front camera doesn't take clear enough pictures, they might deny it. You not looking like the photo in your ID may also be an issue.

Either way, if nothing works, your best bet would be to contact support and let them guide you through it. They may even be able to tell you what's wrong. I wouldn't count on a quick response though.
1577  Bitcoin / Legal / Re: Crypto-Gambling Legality on: March 31, 2018, 01:39:51 AM
It looks to me like it's in a gray area. Taking sports bets on a US based server seems to be explicitly illegal, and other forms are implied and/or assumed to be.1

Some sources say operating a gambling website within the US is outright illegal.2

Old FBI article (2007) says it's illegal.3

It looks like a bad idea no matter how you look at it, as basing it on crypto likely won't matter. It may be better for you to go off shore, but you apparently still can't legally serve US customers. If you're still so intent on creating one though, you should probably consult a proper lawyer.

1 https://vegasclick.com/online/legal
2 https://www.legalzoom.com/articles/online-gambling-is-it-legal
3 https://archives.fbi.gov/archives/news/stories/2007/june/gambling_060607
1578  Other / Beginners & Help / Re: How Can i create wallet? on: March 31, 2018, 01:20:12 AM
First, you read this:

https://bitcointalk.org/index.php?topic=1631151.0

If you have decided on an online wallet, pick one, sign up, and it'll be set up for you. This is the most straightforward option and also happens to be the least secure.

If you have decided on a desktop wallet, pick one, download it, and pick a wallet creation option. It's an easy process. I recommend Electrum.

Hardware wallets and/or other kinds of cold storage aren't as straightforward, but there are plenty of guides online specific to what you choose.
1579  Economy / Economics / Re: government and crypto collide on: March 30, 2018, 02:11:41 PM
It's honestly too early to tell. Petro would have been a good indicator as to how a government backed crypto can affect everyone as a whole, but everyone seems to be against it. As far as precedents go, coins that are made to bypass regulations look like they're doomed to fail. They're not going to be able to win over anyone's confidence, not even their congress', as shown by Venezuela's case. China's supracurrency sounds great because it covers 40% of the world's population, but let's not forget that existing cryptos cover 100%; we can probably expect anti-crypto regulations from them to level the playing field, but the question of user support remains.

For now, crypto does compete with fiat in a sense, and most governments aren't banning it, so I'd like to believe that the rise of state-backed crypto won't mean overbearing regulations. Also, if crypto as a whole becomes commonplace, then so will Bitcoin and the major alts -- so that's a potential pro. We'll see though, I guess.
1580  Bitcoin / Bitcoin Discussion / Re: Accelerate adoption, open an online store on: March 30, 2018, 12:17:46 PM
All of you make good points, however, when you accept BTC you receive fiat. Payment processors convert it to fiat for you, it's just like accepting Visa and Mastercard.

That's not always the case. Bitpay lets you choose if you want to receive your payment in Bitcoin or a currency of your choice after they take their cut. You could even receive a combination of the two.

Rather than opening an online store, which isn't an option for most users, just encourage them to spend in Bitcoin and ask various shops if they accept it. It would be great if you could open an online store, of course, but I simply don't think it's for everyone. Everyone here should be able to spend in Bitcoin, in contrast.
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