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2321
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Bitcoin / Bitcoin Discussion / Re: Bitcoin will die if this is not sorted out
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on: January 11, 2018, 01:39:34 AM
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Like other people already have told you here so does Bitcoin Cash solves this issue for you, with lower fees and faster transactions.
Actually, if you actually care about the well being of Bitcoin, you probably shouldn't support Bitcoin Cash. Their shills are one of the most vocal Bitcoin FUDers on the internet, even going as far as to claim that Bitcoin Cash is the true Bitcoin. They were also responsible for a network spam attack a few months ago, which also ended in a Bitcoin Cash pump and dump. You're still free to do whatever you please, though, but if you simply want to use alts then Litecoin is a better option. It's faster with lower fees. |
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2322
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Bitcoin / Press / Re: [2018-01-09] JPMorgan CEO Makes Unclear Statements On Bitcoin and Government ...
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on: January 10, 2018, 02:23:23 PM
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Are people still actually listening to Jamie Dimon? Wasn't JPMorgan caught buying dips? Lol. That should give us an indication as to how Dimon really feels about Bitcoin. Either way, this regret statement seems to set him up for a 180 sometime in the future. For someone who doesn't care about the subject, he seemed to have strong feelings against it a few months ago. “It’s just not gonna happen, you’re wasting your time. This is my personal opinion. There will be no real non-controlled currency in the world. There’s no government that’s gonna put up with it for long.”
I agree with him, at least in the governments' resistance to uncontrolled currencies. They are already starting to test the waters with regulations. I don't want to use the word control, because they obviously can't control Bitcoin, but it remains to be seen how much they can directly influence it. |
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2323
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Bitcoin / Bitcoin Discussion / Re: Big Business pressing Bitcoin?
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on: January 10, 2018, 12:47:26 PM
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There is no grand campaign against Bitcoin.
Microsoft, like Steam, killed off the Bitcoin option because of the volatility, and how expensive the fees are. It simply stopped making sense from a financial standpoint. They also didn't rule out accepting Bitcoin again in the future. Also, I know Bill Gates doesn't control Microsoft anymore, but he's actually really positive about Bitcoin and cryptocurrencies in general.
I don't know about Mastercard, but the uproar about Visa was caused by Wave Crest, a crypto debit card provider, apparently violating some terms of its agreement with Visa. Visa stopped catering to Wave Crest, so that in turn ended some crypto debit card programs. There are other Visa crypto debit cards, apparently.
Exchanges simply can't cater to the explosive growth. I'd rather they stop registration than biting off more than they could chew, which could cause more harm.
Everything has a clear explanation as you can see, so rest assured.
Thanks for explanation))) Do you think that corps, banks and governments have already come down with "future of cryptocurrency"? It largely depends on the entity. You would think all banks would all be against crypto because it could threaten them in the long run, but some like Goldman Sachs (granted, it's an investment bank) are actually willing to jump on the bandwagon. Some companies are also open to them, just as Steam and Microsoft showed by accepting Bitcoin for as long as it was practical. Governments like Japan are supportive, while governments like China are restrictive. No one can really declare Bitcoin as the future yet, especially with all these problems, but the world is eagerly watching. Woah, awesome news! Rip FUDers lol. |
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2324
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Bitcoin / Bitcoin Discussion / Re: Big Business pressing Bitcoin?
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on: January 10, 2018, 11:39:01 AM
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There is no grand campaign against Bitcoin.
Microsoft, like Steam, killed off the Bitcoin option because of the volatility, and how expensive the fees are. It simply stopped making sense from a financial standpoint. They also didn't rule out accepting Bitcoin again in the future. Also, I know Bill Gates doesn't control Microsoft anymore, but he's actually really positive about Bitcoin and cryptocurrencies in general.
I don't know about Mastercard, but the uproar about Visa was caused by Wave Crest, a crypto debit card provider, apparently violating some terms of its agreement with Visa. Visa stopped catering to Wave Crest, so that in turn ended some crypto debit card programs. There are other Visa crypto debit cards, apparently.
Exchanges simply can't cater to the explosive growth. I'd rather they stop registration than biting off more than they could chew, which could cause more harm.
Everything has a clear explanation as you can see, so rest assured.
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2325
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Bitcoin / Bitcoin Discussion / Re: Bitcoin to 3rd world countries
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on: January 10, 2018, 09:40:52 AM
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It likely won't be as popular in poor countries because they tend to have poor infrastructure. There won't be as many people with internet access, and there would be even less people with enough disposable income to actually experiment with Bitcoin. That doesn't mean it can't propagate though, as there are also more people looking for extra income, so Bitcoin could be popular as an investment.
Citizens of countries with failing economies can use Bitcoin as a shield though, as demonstrated by the people of Venezuela. It has real utility to those who don't trust their economies anymore.
As for the government's approach to Bitcoin's regulation, I honestly don't think it has anything to do with the wealth of the nation. However, totalitarian countries are more likely to repress it, and it just so happens they tend to be on the poorer side of the spectrum, so there still may be a correlation there.
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2326
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Bitcoin / Bitcoin Discussion / Re: Just an idea for Bitcoin
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on: January 10, 2018, 08:41:49 AM
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The idea of rewarding users that run full nodes has already been floating around for some time, but it doesn't seem like anyone can come up with a solid solution.
From your statement, are you saying that a Bitcoin organization that rewards full nodes should be formed? That could work, but the money would have to come from somewhere, and they would need a way to verify how long each full node has been running. That means they would need a constant stream of donations, and maybe a change in the network protocol.
For now, people will just have to settle for the inherent advantages of running a full node, like not having to trust your service provider, and actually contributing to the well-being of the entire network.
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2327
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Economy / Economics / Re: Do you think bitcoin redistributes wealth or just makes the wealthy richer?
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on: January 10, 2018, 05:51:38 AM
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One thing to note is that it was designed to do neither. Some people may think that Bitcoin is anti-establishment and was made so that people from the lower classes can level with people from the upper classes, and it's simply not as grand as that. It's a trustless currency, and rich people can just as easily enter the market as poor people.
That being said, I would say there's no wealth being redistributed in the strictest sense of the term, in that you're not really taking money away from the rich to give to the lower classes. Bitcoin made some poor people wealthy, it made some rich people wealthier, and that's it.
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2328
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Bitcoin / Press / Re: [2018-01-08] Binance, Bitfinex, Bittrex Temporarily Say No to New Users
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on: January 10, 2018, 04:19:06 AM
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I find it a little ironic that services which offer uncensorable currencies are denying people the chance to take part of them though lol.
What does closing registration have to do with censorship? Anyway, no cryptocurrency is uncensorable. At best, they are censorship- resistant. It could be construed as censorship of sorts. It could be a stretch, sure, but I was mostly saying it in jest. I mean, one of the selling points of crypto is that everyone can participate, right? Closing registration kind of goes against that. I was mostly referring to Bitcoin, which is often described as uncensorable in part because of its uncensorable transactions, but I digress. |
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2329
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Bitcoin / Bitcoin Discussion / Re: bitcoin transaction fees are abnormal
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on: January 10, 2018, 03:52:44 AM
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I have just made a withdrawal from Coinbase of 0.00581882 BTC and the 0.00120204 BTC was a transaction fee!?
So, to the end BTC address there was only 0.00461678 BTC!
Why are the transactions fees so big. What is the point here?
We have an announcement in Coinbase.com that they are woking on the backlogs. I am sure once the backlogs are cleared, the trasaction fees may get reduced. .0012 is so costly here. Even localbitcoin.com as well, costs .0009 for incoming trasactions. So when you change .005 into your fiats, you would almost loose .0021 btc. Really worried at the cost. Wait, what backlog? Their users' transactions? Because I'm pretty sure they have no control over that. That's why they're charging high fees in the first place -- so that their users' transactions can be confirmed as soon as possible. What they can really do to help clear the transaction backlog is to use Segwit. I know that they already plan to have it implemented by the end of the first quarter of 2018, but man this should have been a long time coming. Yeah the cost is worrying, but the crypto market as a whole is in a complete uproar right now. Some exchanges are even denying registrations. Crypto grew too big too fast, and while that shouldn't be too much of a problem long-term, it's pretty inconvenient at the moment. |
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2330
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Bitcoin / Bitcoin Discussion / Re: who runs blockchain site ?
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on: January 10, 2018, 03:45:01 AM
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If you mean the blockchain.info site, it's owned by a party completely unaffiliated with Bitcoin. It's a private site with a block explorer and a wallet. If it goes down, well that's going to be problematic for its users.
If you mean the actual Bitcoin blockchain, it's not a website and is instead hosted by multiple people running nodes. It's why Bitcoin is a peer-to-peer currency. One or two going down wouldn't be a problem, and every single one going down is almost completely impossible.
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2331
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Bitcoin / Press / Re: [2018-01-08] Binance, Bitfinex, Bittrex Temporarily Say No to New Users
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on: January 09, 2018, 01:30:40 PM
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It's crazy how crypto has boomed. It's rare for you to see services turn away customers because they can't handle the demand. And these are three different services of the same field, so you just know that the situation has already reached borderline ridiculous levels. The end of 2017 brought a massive wave of newcomers. Oh well, this forces exchanges to up their game if nothing else.
I find it a little ironic that services which offer uncensorable currencies are denying people the chance to take part of them though lol.
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2332
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Bitcoin / Legal / Re: Do you need a service that can transfer your Bitcoin to cash without tax applied
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on: January 09, 2018, 12:57:12 PM
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I'm sure you'll have a massive market if you do get something like this up and running, but as others have said, this is impossible lol.
Maybe the closest service you can get to this is tax avoidance (not evasion) advice? Kind of like how Apple and Google saves billions, if not trillions in taxes using tax havens. This would be completely impractical for the regular users of course, just as normal US companies can't take advantage of the same loopholes, but I'm sure there are lots of Bitcoin whales out there who want to preserve their money. You basically tell them how and assist them. I don't know if this is currently possible though.
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2333
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Bitcoin / Bitcoin Discussion / Re: Korea, China and Japan are Swapping Ideas for Cryptocurrency Regulation
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on: January 09, 2018, 08:25:21 AM
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It would be interesting to see what would come out of this. It seems like this meeting was for South Korea's benefit -- a consultation with China and Japan of sorts? We know that South Korea has been increasingly negative towards Bitcoin, and it's seeking the counsel of countries with polar opposite views. I think that's the good sign, because it suggests they're keeping an open mind.
They'll probably take a healthy middle position, not taking steps as drastic as China did and plan to, while not being as open as Japan. It doesn't look like a complete ban is on the table, but they also want to shorten the leash on exchanges. It also seems like all this uncertainty is already affecting Bitcoin's price, as some news outlets are crediting it as the cause of the most recent slide.
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2334
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Bitcoin / Bitcoin Discussion / Re: Preparation
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on: January 09, 2018, 07:05:56 AM
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I think it's a stretch. But then again, I'm never one to buy into grand conspiracies.
Normally, when you try to take control, you make sure that others have less power. Making some people wealthier than they could ever imagine kind of goes against this because the more wealthy people there are, the more people out there that could possibly stop you.
A cleansing of some kind where only people with crypto has power is also absurd when you think about how easy it is so get some. If someone wanted a cleanse, then I'm sure they'd choose better qualifications than that.
This is more of a stretch as a conspiracy theory than others like how Satoshi is a three letter agency and stuff. I believe Bitcoin was made simply because someone thought it would be a good idea to have a trustless peer-to-peer electronic cash system, and that someone happened to be capable of building it.
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2335
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Bitcoin / Bitcoin Discussion / Re: Why US government selling bitcoins? How about donating to poor and homeless?
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on: January 09, 2018, 05:27:41 AM
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How can you say that the US government had been using or selling bitcoin? Don't heard any news about this. Do you have proof to back-up your statement. I also want to learn if this is true. Thanks
He was probably talking about the coins seized from Silk Road and its owner. Either way, they didn't really sell it for profit. They seized it as part of an operation, and likely had no use for it, so they chose to liquidate it. It doesn't seem like there are any news that detail how they're going to use it, but either way, I don't think they can simply give it away. They would have to route it through an agency or something. You should be able to ask your local officials. |
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2336
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Bitcoin / Bitcoin Discussion / Re: Is is possible to change the Bitcoin price artificially?
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on: January 09, 2018, 05:12:18 AM
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It's completely and utterly impossible because no single entity can dictate the price of Bitcoin. Even exchanges trade at different prices. The price is a direct result of market movement, and no "key" will be able to change that because it isn't embedded anywhere. Even if someone had all Bitcoins in the world, they wouldn't be able to fully dictate the price because they're only worth as much as other people want to pay for them.
It's hard to speak on even hypothetical terms because if the premise were true, then the world dumping would have no bearing on the price whatsoever. I guess it depends on how long he can keep it a secret? If the world knows, then they'll dump and no one will want to buy anymore, no matter how low or high he sets the price.
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2337
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Bitcoin / Bitcoin Discussion / Re: "Virtual Currency Girls" - a group of girls from Japan, spreading knowledge abou
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on: January 09, 2018, 03:05:40 AM
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What the hell is this lmfao. Leave it to Japan to come up with the weirdest way to promote crypto. I mean, I don't think I'd be an avid fan of this even if I were into that entire idol culture, but I would try to support them, I guess, as an enthusiast? Either way, were they formed to promote crypto or be a serious idol group? I'm guessing we're about to get crypto songs soon lol.
Still, I love how supportive Japan is of crypto. We will at the very least always have Japan to fall back on. I wish other countries would take the same approach.
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2338
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Economy / Economics / Re: Why African millennials can't get enough of Bitcoin
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on: January 09, 2018, 02:42:29 AM
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Woah, that's awesome. While we're out here talking about the outrageous fees and how Bitcoin is barely usable as a currency, South Africa is finding uses for it. It just goes to show that Bitcoin hasn't lost its utility as so many shills might suggest.
It's interesting because it's usually struggling countries that find the most value out of Bitcoin. It's the same case with Venezuela where they use it to escape deflation. This perfectly illustrates how Bitcoin's decentralization can be used for financial independence. This can get a little diluted in first world countries because they're still relatively well taken care of by their governments, but Bitcoin can be a solution for people who have no choice but to take care of themselves.
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2339
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Bitcoin / Bitcoin Discussion / Re: Is Bitcoin Core, EVER going to release Lightning? Or Is Scaling Dead w/Inaction?
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on: January 09, 2018, 02:06:33 AM
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It is my understanding that the network is ready for the Lightning Network with no further soft, much less hard forks necessary. The problem seems to lie on the software client, which isn't ready yet.
I have no idea how long it will take for it to be ready, but considering the silence, I think it would be safe to assume that it would be a while. I don't know why it's not being fast tracked either, despite the fact that it's likely to solve most of our current problems.
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2340
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Economy / Speculation / Re: Bubble closer than you think?
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on: January 09, 2018, 01:52:48 AM
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It's basically the same argument all over again, from both sides. You see lots of financial experts with differing opinions and with some putting their money where their mouth is, like Peter Thiel. People have been clamoring for the bubble to pop for the longest time and it still hasn't. I know that's not a great indication of what the future will hold, but I plan on believing anyway.
At this point, all you can really do is pick one side and stick with it. There are also ways to mitigate risks like taking out your capital.
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