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681  Other / Beginners & Help / Re: Precautionary Steps to Avoid Becoming A Victim of Crypto Crime on: October 28, 2018, 04:22:06 AM
To be fair, no one should be doing any type of transaction meet-up involving crypto.

It's probably more common than most people think. Some people would rather not get banks involved. It's obviously very risky, and there have been quite a few instances of shit going south, but most of that can be mitigated by proper preparation. Meeting in a relatively quiet but populous area like coffee shops should be standard practice, among other things. I've heard about travelers using Localbitcoins and meeting up with local buyers at their hotel lobby.
682  Bitcoin / Bitcoin Discussion / Re: Visa won't process Bitcoin & cryptocurrency transactions on: October 28, 2018, 02:25:52 AM
As an update to this, Visa's CEO is open to processing crypto transactions as a middleman if it becomes significant enough:

https://www.ccn.com/visa-ceo-crypto-is-not-a-big-threat-but-if-needed-we-will-support-it/

It's all about the money.
683  Bitcoin / Bitcoin Discussion / Re: Bitcoin ATM's on: October 28, 2018, 01:36:28 AM
My other question is if people are worried about the security of these things.

Security shouldn't be an issue as your existing coins are never at risk. I would be careful with KYC procedures though, because they can link your identity with the address you provide them.

I like them because they provide awareness, but if you have easy access to an exchange, they're not going to be very useful for you.
684  Economy / Economics / Re: WILL BITCOIN PROVIDE SOLUTIONS THIS Time? on: October 27, 2018, 12:29:23 PM
It is clear that another financial crisis is about to commence and I think bitcoin remains calm is a sign of confidence and strength.

Saying a financial crisis is about to begin just because the stock market plunged isn't much different from saying Bitcoin is dead because prices dropped. They're both jumping the gun with one metric when fucktons more are available for consideration.

Bitcoin truly is a viable option, but the fact that we haven't seen any notable movements yet probably means Bitcoin is pretty low on traditional investors' alternative list. I'm sure those who did diversify their portfolio to include Bitcoin must be pretty satisfied though.
685  Other / Beginners & Help / Re: wallet securing !! on: October 27, 2018, 11:18:33 AM
Security of wallets are generally the same. With minor difference the best security in wallet is YOU.
Learn about security, about internet/computers in general. It will help secure your wallet for sure.

I would argue that the difference of security between web wallets and just about every other kind is pretty significant, just because the former store your private keys online. This generally means your coins are always at risk, no matter what precautions you take.

But yeah, going off bob123's list, I personally wouldn't use anything below desktop wallets.
686  Bitcoin / Bitcoin Discussion / Re: Bitcoin And Blockchain Jobs In The U.S. Are Surging on: October 27, 2018, 09:01:00 AM
I wonder in what area these jobs really are, there are bound to be a lot of jobs for specialists in a variety of areas, think lawyers, accountants, compliance specialists and many more. That's discounting all jobs that are even directly involved in the creation, development or adoption of any cryptocurrencies.

The article actually answers this question:

The survey revealed the bitcoin and blockchain software engineers are the most in-demand, followed by other technical roles such as product manager and technology architect.

So they're not much different from typical tech companies, which isn't all that surprising considering the fact that they're also in tech.

People seem to think the SEC will play nicer with crypto as a whole because it provides employment, but I doubt that. It's out of their mandate. The directive to ease up would have to come from higher up. It's kind of like how ICE has ramped up its operations vs. illegals under Trump despite no change in laws.
687  Bitcoin / Bitcoin Discussion / Re: Cyber attacks are good for Bitcoin on: October 27, 2018, 07:56:58 AM
Cyber attacks aren't good for anyone. This doesn't prove that Bitcoin is better than legacy payment options either, because you're going to have to give your info either way especially if you're paying for flights. Heck, I could even go a step further and say that using Bitcoin can be more dangerous in a situation like this, because a criminal can potentially assemble a victim's financial profile through blockchain analysis.

This isn't a failure for traditional finance, it's failure for data safekeeping. If nothing else, incidents like this highlight the need to be wary of sharing personal information. Bitcoin can't help you if your data is already out there.
688  Bitcoin / Bitcoin Discussion / Re: Fun fact about bitcoin that not everyone knows on: October 27, 2018, 07:10:01 AM
Hi, agree that it's GV, Google's investment arm. I will edit my post.

But I will disagree with the lambo. Tomcar posted the blog they are accepting bitcoin payment thru Coinjar in 2016 and the Post Oak Motor Cars announced accepting bitcoin using Bitpay in 2018 but Tesla Model S from a Lamborghini dealership in Newport Beach, Calif was bought with Bitcoin also thru Bitpay in 2013.

https://money.cnn.com/2013/12/06/autos/tesla-bitcoin/index.html
https://www.cnbc.com/2013/12/09/buying-a-tesla-with-bitcoin-not-so-fast.html

Thank you for reading my post and I will edit my post about Google so as not to confuse people but please let me know if you think I'm still wrong about lambo  Smiley

Oh, so it was a one time sale and it was actually a Tesla? Yeah it makes sense now because I couldn't find any information on the subject. It's still kind of misleading because Lamborghini, the company, didn't accept Bitcoin in this case, one of their dealerships did (and through Bitpay if that's relevant). I also find it weird that a Lambo dealership was also selling Teslas but whatever I guess. Carry on and don't mind my nitpicking lol.
689  Bitcoin / Bitcoin Discussion / Re: Fun fact about bitcoin that not everyone knows on: October 26, 2018, 08:56:55 AM
This is interesting fun facts and especially fun fact no. 2. I didn't even expect Google to be interested in investing in Bitcoin wallet.  Cheesy

Well if we're being specific, Google itself didn't invest, its venture capital arm did. They also operate independently from Google so saying Google invested in Blockchain.com/.info is kind of inaccurate. This doesn't mean they're interested in Bitcoin or its wallets either, it's simply their job to bet on startups.

I also don't think the Lambo tidbit is real:

https://prwire.com.au/pr/40127/tomcar-australia-is-world-s-first-car-manufacturer-to-accept-bitcoin
https://www.coininsider.com/automobile-post-oak-motors-bitcoin/
690  Economy / Economics / Re: Which crypto companies will overtake Amazon, Apple, Microsoft, and Google? on: October 26, 2018, 01:52:01 AM
From what we've seen so far, companies like Bitmain probably can. Crypto's explosive growth is probably mostly responsible in their explosion in wealth, but we all know crypto also has a fuckton of room to grow. If crypto companies can grow with it, I can see this happening.

Some random ICO company could also potentially reach the top, provided they actually put out something revolutionary and genuinely useful for the masses. We haven't seen anything remotely close to that though, so it may not even be possible lol.
691  Bitcoin / Bitcoin Discussion / Re: If the banksters and governments held 90% of the Bitcoin supply, what now? on: October 25, 2018, 12:17:29 PM
The project is to provide a peer-to-peer cash system, so one or two entities holding 90% of it won't automatically mean failure. It's still going to work as intended. They're going to have massive influence, if not outright control of the prices, but they'd also have the most to lose -- that may incentivize them to play nice.

For idealists who wish to escape their grasp over the financial system, yes.

So I guess it depends on what the project is for you. Not that I think this scenario will ever happen.
692  Bitcoin / Bitcoin Discussion / Re: Unocoin co-founder arrested after opening first cryptocurrency ATM in India on: October 25, 2018, 09:14:49 AM
this doesn't really sound like nonsense to me to be honest! and i believe anywhere else in the world things are the same as this case which means you can not install an ATM machine in public without acquiring a license first for that kind of operation.
using bitcoin is only like the cherry on top to create a more dramatic atmosphere otherwise they would have arrested him if this was a regular ATM too.

I get that there could be special regulations regarding ATM installations, but Bitcoin ATMs can't really be considered true ATMs. They're only really called that because they allow you to "withdraw" coins, but they're much closer to a vending machine that can work both ways. Assuming they don't have specific laws for Bitcoin ATMs, that would be like arresting someone for owning perfectly regular bread that just happened to be called Cocaine.

That being said, I read more about this situation and their ATM does look like they function more like traditional ATMs:

Users of the machine could reportedly withdraw and deposit Bitcoin, but not buy or sell the cryptocurrency.

So maybe it could be justified? I hope we can get answers in the next few days.
693  Bitcoin / Bitcoin Discussion / Re: Unocoin co-founder arrested after opening first cryptocurrency ATM in India on: October 25, 2018, 06:56:37 AM
-snip-

Operating Bitcoin ATM Kiosk is Illegal according to the RBI.

In April, the central bank prohibited banks from working with cryptocurrency exchanges. But over here the ATM was not using any banks as a gateway.
This is clearly not a violation.

The reason stated is
"They did not have any license from RBI, Sebi or any other agency to carry out the bitcoin transaction, says police".

Which is utter non-sense if you ask me.

Why would they need a license for Bitcoin transactions in the first place? Bitcoin ATMs basically facilitate buying/selling of a product. If they have a valid business permit, which I assume they do, there shouldn't be any issue at all with this. It's not an ATM in the traditional sense after all, and it's not even operational lmfao.

I hope your courts are a little more sensible than your central bank.

He probably forgot to pay off the police and local government with their usual bribes. Can't do any business in India without those under the table payoffs. Could even be a bitcoin bribe

Lol everyone says this about their own country to be fair. Doesn't make it any less true, but still.
694  Bitcoin / Bitcoin Discussion / Re: Unocoin co-founder arrested after opening first cryptocurrency ATM in India on: October 25, 2018, 06:08:43 AM
So what law did they say he broke? They may have a case if the accused actually used crypto for financial transactions, but setting up an ATM shouldn't really break any existing laws.

Really though, what the hell is India doing? The way they're acting, it seems like they're stopping just short of implementing an outright ban.
695  Alternate cryptocurrencies / Altcoin Discussion / Re: What they won't tell you, how to earn even in the bearish market on: October 24, 2018, 09:08:15 AM
Do you really have a coin to suggest?  My personal experience says that whatever they promise in return that they lose in their price with time. Actually no gain in the end.

This is exactly my concern. There are a few legitimate ones, but they all require a lot of up-front money. It's pretty dangerous just because of how simple it sounds: You buy a lot of coins, and you automatically get rewarded a few more every now and then. It seems like a no-lose situation until the coin you initially purchased plummets to basically zero. And a lot of them do lol.

Basically, the purpose of staking is to help secure the system, not to monetize it. If any PoS coin brands earning as a feature, think twice. You can profit as OP has described, but there are no guarantees -- something that is consistent across the crypto market.
696  Alternate cryptocurrencies / Altcoin Discussion / Re: SEC tightens the noose on ICO-funded startups on: October 24, 2018, 08:11:52 AM
at the end of the day: do you need the nanny state telling you what you can invest in? people should be able to avoid scams on their own. caveat emptor and all.

I completely agree with this, but I feel like the problem is how ICOs have been getting away with outright scamming scot-free. I don't mind making gullible people pay for their lessons, but at the same time, crime shouldn't pay.

The US is probably facing difficulties with persecution considering the nature of ICOs, so they're gatekeeping instead. I don't necessarily agree with their methods because it could easily stop the next great idea from being born, but man, looking at random white papers make it feel completely justified.

Either way, it does seem like people are starting to wise up regarding ICOs, so it wouldn't surprise me if the industry entered a renaissance period in the future, featuring non-garbage projects.
697  Bitcoin / Bitcoin Discussion / Re: Evaluation of Bitcoin as a store-of-value on: October 23, 2018, 01:01:58 PM
Quote
Lately, we witnessed a shift in the narrative of the Bitcoin project. A peer-to-peer electronic cash, now advertised as a store of value.

Advertised by who, exactly? The end game is still utility for payments, which is why scalability is being worked on. It just so happens that it fulfills the store of value role better at the moment.

Quote
Bitcoin struggles to maintain its market share as a peer-to-peer transaction layer against improved networks like Ethereum, Dogecoin, Litecoin, Monero, etc.

Umm...what is your basis for this statement? I don't like to use market dominance as a metric, but if you're referring to that, Bitcoin isn't struggling in the least. It's been getting better in recent months, even. Nothing has really even come close.

Nice, detailed read otherwise.
698  Bitcoin / Bitcoin Discussion / Re: How to create impossible transaction in Bitcoin? on: October 22, 2018, 09:15:45 AM
The only way, as far as I know, is double spending the same input. If one of the transactions get included in a block, the other one can never be included anymore.

Why bother trying this though?
699  Bitcoin / Bitcoin Discussion / Re: Satoshi's original idea... on: October 22, 2018, 08:14:26 AM
A lot of the world is already priced out of bitcoin mining. Seems like if the price keeps declining only a handful of countries will find their mining operations to be profitable. That's why I brought up the whole "centralization" aspect. I realize this is a hypothetical situation, and also that mining pools don't set the rules, but they nevertheless have economic power and more say in how the network is run than normal nodes.

It won't be as much a problem with centralization as much as it is with distribution.

Miners will be less distributed in a sense that they'll only exist in a few countries, but they would still be under the control of many distinct people, so it would stay decentralized. Difficulty adjustments will slow this process down, and along with the rise of renewable energy tech, this may not be a very significant concern in the future.
700  Bitcoin / Bitcoin Discussion / Re: If the bull market recur periodically, how long dose a cycle take? on: October 22, 2018, 07:00:33 AM
If we compare crypto time scale to dot com  bubble time scale, we are 3-6 months way from The start.

Start of what?

The bull market being recurring seems to imply that it's completely natural and that it just happens. Well it doesn't; there are always several factors beside each one, so unless you're able to predict an event that will spark a sustained rally, you really won't know when it will happen. It certainly doesn't come with time, unless it has been established that investors tend to do this and that every few periods or whatever.

For what it's worth, some people believe that an ETF approval will start a bull run. We don't know for sure if it will though, of course.
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