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1741  Economy / Economics / Re: Why price is volatile if amount of bitcoin doesn't decrease? on: March 08, 2018, 07:00:16 AM
For example with the last dip to 6k it is said that the whale was selling huge amounts of bitcoin, which made it go down. Alright, but if he sold it, doesn't it mean that someone else just hold it now?

Not necessarily. If they dump them at an exchange, exchanges will have a surplus of circulating Bitcoins, making the price drop. They're not considered to be "held" by anyone because they're constantly on the selling block.

This is where demand plays its part. There are lots of coins up for sale, and there's more people selling than buying, so the effective "amount" you're speaking of is actually increasing. You need to look at the amount of circulating coins rather than the total supply.
1742  Other / Beginners & Help / Re: Can bitcoin get "corrupted"? on: March 08, 2018, 02:43:30 AM
There's no data that is immune to corruption, so it's possible in theory. What has to be noted, though, is that there are thousands more people out there with a working copy of the blockchain, with some being hosted on state of the art computers. Unless they all get corrupted simultaneously, you have nothing at all to worry about. That's the beauty of decentralization.
1743  Bitcoin / Press / Re: [2018-03-06] Blockchain Needs Centralization, Says Chinese SEC Official on: March 08, 2018, 02:35:05 AM
Well if private entities are going to develop their own blockchain-powered systems, then they have no need for complete decentralization. Maybe this is what he was referring to?

It goes against the point of using "public" cryptocurrencies though, so the most successful cryptos will always be decentralized. Nice try though, I guess.
1744  Other / Beginners & Help / Re: Transactions from a wallet to another wallet anonymously??? on: March 08, 2018, 02:21:05 AM
Do you know if there are better ways?

Mixing is the most straightforward solution and should be more than enough for the average user's anonymization needs.

I don't really know if this is a better way, but criminals apparently trade their coins for fully anonymous coins like Monero, then trade it back for what coins they want. This pretty much erases the trail completely, unlike mixing which tend to leave traces.
1745  Other / Beginners & Help / Re: First Doubts on: March 08, 2018, 02:07:14 AM
About paper wallets  >  If you have a paper wallet and one day you need to use it, that day youll have to expose the private key online   Shocked  when making a transaction ?

Yes, unfortunately. If you want to be able to have an offline wallet that will never expose your private key online, you could create a watching-only wallet (online) and the actual wallet on an air-gapped computer. You create a transaction using your watching-only wallet, sign it with your air-gapped wallet, then broadcast it with your watching-only wallet. Electrum has a tutorial here.

Electrum only works with Bitcoin, unfortunately, but I'm pretty sure there are modified versions specifically made for some alts. I can't vouch for their safety and security though.

Alternatively, hardware wallets make sure your private keys never leave the device, so that's the most straightforward solution available.
1746  Economy / Speculation / Re: 2018 good time to invest on Bitcoin and Crypto curreny ? on: March 07, 2018, 01:47:28 PM
I'm looking on coinmarketcap graph and its not look positive like few months ago when all the crpyo were on continius growth
what needs to be change to make Bitcoin and crypto currencies to go to the roof again ?
is it likely or unlikely to happen?
how much you predict Bitcoin and Ethereum till the end of 2018 ?

Continuous growth? That's not the term I would use. That was explosive growth. Remember that Bitcoin started 2017 at $1,000, and by September, people were unsure if it can hit $10,000 by year end. We're quite comfortably above that. I mean, I guess I could understand if you're new to the picture, and you're seeing that growth is stalling, but really. Bitcoin is at an excellent place.

I don't foresee any developments that could make Bitcoin's price explode again, so I wouldn't be surprised if Bitcoin ended the year at $10,000, or even lower. I'd love to be proven wrong though.
1747  Bitcoin / Legal / Re: PayPal Files Patent For System To Speed Up Cryptocurrency Transaction Times on: March 07, 2018, 09:23:10 AM
It's nothing really interesting in the first place, especially because of the fact that with Lightning Network, transactions are settled off-chain and instantly already. I can't think of anything that can beat off-chain transactions in any shape or form. On top of that, PayPal could even just use its own global centralized ecosystem to allow user and merchant to settle transactions instantly. At the end of the day, PayPal is just looking to exploit crypto's increasing popularity to boost their fee income. Never will they just do something without any financial motivation behind it, especially so with greedy share holders looking for an increase in operational results. PayPal doesn't give one single damn about crypto transaction times....

I wouldn't be so dismissive. Lightning Network testing is going well, yeah, but it hasn't been tested for widespread use. There's no definitive best solution yet. If something ended up working better than the Lightning Network, it should be embraced; Bitcoin will be left behind in the dust otherwise. The more parties there are working on solutions, the better it would be for the end users.

Also, innovation is always good because it can spawn and spur more innovation. Even if this failed, the concept and tech could be used for something better in the future.
1748  Economy / Economics / Re: Soros is a crypto believer on: March 07, 2018, 09:07:33 AM
This could indicate one aspect of how central bankers may be losing control over world leaders. Oftentimes bankers have maintained control over dictators by having their money stashed inside a tax haven. You can see it happen with dictators who have been deposed or overthrown. Billions of dollars disappear and no one can find where the money went. Example of this: I think more than $10 billion "disappeared" when Ferdinand Marcos fled the Philiippines.

This is actually a very interesting view. People get so caught up with privacy and painting people in power as the bad guys, that they forget that the powerful and influential can use crypto equally well -- or better, even, because they actually have money to move and shelter.

I don't necessarily agree that bankers are worried about losing control over dictators specifically; it's an obscure case and there are few of them in the modern world. This could be the case for pretty much every corrupt businessman or politician though, in addition to dictators, in which case, they should be worried. Turns out Bitcoin has more implications than I originally thought.
1749  Bitcoin / Bitcoin Discussion / Re: Another bitch moved by the Chinese Regulators. on: March 07, 2018, 08:20:40 AM
That's not surprising at all. I mean, they've been barred from operating in the country and it seems some of them are using their social media accounts to still do business, so China is simply closing a loophole. This is them basically implementing the ban which was already in place anyway.

I disagree with China's ban, of course, but this follow-up move was perfectly logical and shouldn't really surprise anyone.

This is a small news for bitcoin to drop its price again. China is not the only country in the world. If this news has an impact then it will be really relative small. and beside the bitcoin price drop is due because it touched the major resistance.

I doubt this will have any impact unless you're a) using the loophole or b) you're part of the exchange whose account got banned. I don't expect any price movements because of this, specifically.
1750  Bitcoin / Bitcoin Discussion / Re: Earlier, Gates, was positive about Bitcoin, what changed? on: March 07, 2018, 06:49:14 AM
Nothing changed. Let's break it down.

First, he said, as you quoted:

In an interview with Bloomberg in 2014, he had said bitcoin was exciting because it showed how cheap it can be.

To clarify, he was talking about how cheap it is to move money with them.

Next, he said, from his reddit comment:

Quote
The main feature of crypto currencies is their anonymity. I don't think this is a good thing. The Governments ability to find money laundering and tax evasion and terrorist funding is a good thing. Right now crypto currencies are used for buying fentanyl and other drugs so it is a rare technology that has caused deaths in a fairly direct way. I think the speculative wave around ICOs and crypto currencies is super risky for those who go long.

He didn't change his position at all. He can say that Crypto can be a cheap and easy way of moving money and at the same time be a risky technology that can cause death, and be consistent in his stand. From my point of view, he's just telling it like he sees it. This isn't a Top 10 Anime Betrayals moment.

Why are people still talking about this?
1751  Other / Beginners & Help / Re: What is SegWit? on: March 07, 2018, 04:49:43 AM
BUT now I'm curious. Why does segwit take up more space?

A simplistic explanation would be that Segwit isolates transaction witness data; only the actual transaction data is counted towards the original 1MB limit, so 1MB + witness data could result in blocks bigger than 1MB. The "true" block size limit is now 4MB including witness data.
1752  Economy / Web Wallets / Re: Blockchain.info Wallet address changed? on: March 07, 2018, 04:40:26 AM
I don't use blockchain.info so I can't speak from experience, but it's normal for online wallets to assign multiple addresses to one user. The old address you're talking about is probably still associated with your account. For additional reference, this is from the blockchain.info FAQ:

Quote
What is an address?

Addresses are strings of letters and numbers, that are used to send you bitcoin or ether. For increased privacy, a new bitcoin address is generated for every transaction. Find the address for your next transaction by clicking receive in your wallet.

If you've used the old one, you were likely assigned a new one.
1753  Other / Beginners & Help / Re: What is SegWit? on: March 07, 2018, 02:16:29 AM
How to use the Segwit and what is the deffernce with segwit2x

The posters above already detailed how to get a Segwit address. This is just about the most concise explanation you can get on the matter:

You can download Electrum, and once launched it will prompt you to either create a "Standard" or "Segwit" wallet, choose segwit, and voila, there you have it.

Quote
What do I need to do?

Other then generating the wallet, nothing.


Segwit2x was a controversial planned hard fork that didn't come to fruition because of lack of support. It aimed to combine Segwit with a block size increase. There was another Segwit2x project that was launched recently if I remember correctly, but it has nothing to do with the original. Neither of them has anything to do with Bitcoin.
1754  Bitcoin / Legal / Re: PayPal Files Patent For System To Speed Up Cryptocurrency Transaction Times on: March 06, 2018, 01:38:14 PM
I just do not understand why the patent, since the crypto world is an open source

They either want monopoly, or they want to make money off the technology. I personally don't mind for as long as the patent is filed in good faith, meaning they're actually trying to devise a way to speed things up using the method they described. Intellectual property is still property, after all, and they should be able to do what they want with it.
1755  Bitcoin / Bitcoin Discussion / Re: Founder of Microsoft Makes a Dim View on Cryptocurrency on: March 06, 2018, 01:30:54 PM
In most cases they are being asked for their opinion on various matters, which basically forces them to at least say something, and when they don't really care about a certain subject (which is the case when it comes to Bill Gates and crypto), they mostly come up with terms that the crypto community gets nuts over. People need to look at the context of his words, and not directly jump on him like he said something horrible. Could he have used a different tone and wording? Sure, but who care anyway? Bill Gates by far doesn't come close to what sort of baboon Warren Buffett is, because this fastfood addict takes everything to the next level, and actually attacks Bitcoin, which is something Bill Gates didn't do, and likely won't do later on.

I personally don't consider Buffett's comments as a direct attack. His track record speaks for itself, and I'd say his "gut feel" is at least worth something. Still, he did concede that he basically knows nothing about the subject, which is basically a disclaimer not to take him seriously. To each his own, I guess. It's not like comments from big shots matter anyway, unless they actually start putting their money where their mouth is.
1756  Economy / Economics / Re: Crypto vs stocks on: March 06, 2018, 09:12:46 AM
I don't think any of these "experts" actually believe Bitcoin is a ponzi. I'd like to believe they're actually smart enough to know how a ponzi works. You'd have to stretch its definition pretty far for it to fit the Bitcoin is a ponzi narrative. They're simply using their status to spread FUD. They don't fear change itself; they fear that change will ruin their vested interests.

That being said, there are some valid concerns. It's true that the market is speculative, and each coin is only worth what the next person will pay for it. I believe in Bitcoin's value which is why this isn't a concern for me, but I can see how some people would have a problem with it.
1757  Bitcoin / Bitcoin Discussion / Re: Does Bitcoin/cryptocurrency makes more economic sense than banks? on: March 06, 2018, 08:49:07 AM
Well, "economic sense" isn't as black and white as simply looking at their energy consumption. Banks spur the economy by lending, and they provide jobs, etc, so you're going to have to factor in much more than just cost. The economy is a complex thing.

To answer your question of consumption, here is an article I've read about the subject:

https://hackernoon.com/the-bitcoin-vs-visa-electricity-consumption-fallacy-8cf194987a50

tldr; Author conservatively estimated banking's energy costs to be around 3x Bitcoin's
1758  Bitcoin / Bitcoin Discussion / Re: Should Bitcoin be used to help countries hit by disaster? on: March 06, 2018, 08:20:44 AM
Well for one, I'm pretty sure people would appreciate any help they can get, whether that be in Bitcoin or in fiat.

Second, the help as specified in this case seems to have strings attached. This sums it up pretty well:

Quote
This behaviour reeks of disaster capitalism the use of a natural or economic crisis to reshape and mould a society into one which entrenches a libertarian, hypercapitalistic worldview. When you are without power for months and feel ignored, any offer of help can seem a good lifeline with little thought for the consequences.

If you're helping, but have a hidden agenda, are you really helping? I'm not saying that their idea is bad; they actually seem progressive and could actually benefit people in the long run. It just seems downright exploitative that they're using a disaster as an opportunity to push their agenda.

That being said, the article comes off as very anti-crypto, and seems to be pushing an agenda of its own.
1759  Bitcoin / Bitcoin Discussion / Re: Founder of Microsoft Makes a Dim View on Cryptocurrency on: March 06, 2018, 08:03:40 AM
I do not agree with his reasons. He should have at least kept his first thoughts of Bitcoin being better than a currency and exciting because it is cheap, but this second thought and the reason he gave with the purchase of drug with bitcoin is an insubstantial reason.

If you only want someone to speak about one aspect and shut up about another, it's censorship. I do agree that the drug reason is overblown though, and he obviously overstates crypto's anonymity focus.

Rather than not speaking out about the negatives though, I would prefer people don't speak out about issues they don't know about; something Bill Gates did in this case.
1760  Bitcoin / Legal / Re: Isn't fraud committed if a US citizens uses a VPN to get into ICO? on: March 06, 2018, 05:13:39 AM
I do not see a clear prohibition for US citizens to invest in ICO.

That would be because there are none. The US considers most ICOs securities, so companies will have to comply with US regulations if they want to cater to US customers. Some companies find this way too troublesome, so they simply implement an in-house rule that they don't deal with US citizens. I don't think using a VPN to circumvent this limitation is fraud (in a criminal sense at least) either, but they may choose not to honor your holdings and there's nothing you can do about it.
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