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741  Economy / Speculation / Re: Bitcoin Futures on: September 29, 2018, 02:24:53 PM
As far as I know, there isn't a futures market in bitcoin.

Bitcoin futures have been available for a while now:

https://www.cmegroup.com/trading/bitcoin-futures.html


Misunderstood that. Thanks extasie!

Futures backed by real bitcoin is what the market really needs. It taps in to the rich resources of large institutional investors who do not wish to go through the hassle of purchashing bitcoin themselves but it actually has a direct influence on the price unlike all of the current futures we have. It will also with that make manipulation using futures far more difficult. I would actually hope to one day see only physically backed futures but I doubt that will ever happen.

I see where you're coming from. Some people are against it though, because it gives financial giants motivation to hoard massive amounts of coins. It's going to drive up prices like crazy for sure, but it also gives them a very sizable influence.
742  Bitcoin / Bitcoin Discussion / Re: Cryptocurrency giant Bitmain chooses Hong Kong for IPO on: September 29, 2018, 01:29:57 PM
i sometimes wonder about if Bitmain wasn't demonized this much because of the incidents of last year, then would people still talk about Bitmain's revenues, their IPO, ... and whether they would still speculate about their bankruptcy and demise?!!!
it is interesting because Bitmain wasn't  created yesterday! they have been around a long time and only from mid 2017 they became the center of attention!

Probably? I mean, it's not just about Bitcoin Cash. They seem to have shady business practices, being accused of shipping used mining rigs as new. They also basically have monopoly of the ASIC market, and control a very significant chunk of the hash rate. They're very powerful -- too powerful, even, that they have a target on their backs.
743  Other / Beginners & Help / Re: Newbie mining question on: September 29, 2018, 12:09:54 PM
if that's what you have, I just advise you to staking coin on your wallet check in this site https://masternodes.online/, buy coins and save in your wallet open your wallet 24/7 and you get reward this is much easier Wink.

Just a heads up: you can't earn Bitcoin directly this way. It's true that this can be profitable even with a very modest setup, but a lot of masternode coins are scams. Initial costs are also usually expensive enough that you might as well buy a mining rig setup if it would be profitable for you.
744  Bitcoin / Bitcoin Discussion / Re: Dude buys sandwich with Lightning Network on: September 29, 2018, 11:11:37 AM
they aren't really IOUs though. that implies trust and custody. in LN, the trust aspect has been eliminated by the use of multi-sig contracts. they are some sort of "bitcoin substitute" but there is no trust involved.

That's kind of why I said "essentially." They're IOUs in a sense that everything is settled on-chain later.

lightning isn't exactly replacing hot wallets IMO. lightning = hot wallets. it's impossible to use LN without keeping your private keys online. that's by far the biggest problem, and why i will only ever use it in a limited capacity.

I didn't say they were replacing hot wallets, I said they could replace them for some people. As in, a person has an option to use it or not. On-chain purists can choose to ignore it completely and keep their hot wallets completely on the blockchain.
745  Bitcoin / Bitcoin Discussion / Re: Cryptocurrency giant Bitmain chooses Hong Kong for IPO on: September 28, 2018, 01:07:57 PM
To clarify, they did lose money in Q2, but they have still been very profitable for the year. They haven't exactly been doing well as of late, which isn't very unexpected given the status of the market, but it's not like they're on the ropes or anything. There is a clear downtrend but they're not about to file for bankruptcy anytime soon --  even without the IPO.

As for their motivations behind this, could it be the impending arrival of competitors? News about a Samsung partner entering the mining ASIC industry came out recently. Maybe they want to maintain near-monopoly of the market? Bitmain doesn't have the best reputation so I'm sure lots of people will jump ship once a decent competitor comes along.
746  Bitcoin / Bitcoin Discussion / Re: Dude buys sandwich with Lightning Network on: September 28, 2018, 10:42:40 AM
No one is saying that Lightning is doing on-chain transactions, frank. Plus no one is saying that Lightning will replace on-chain transactions because we need on-chain transactions to open and close Lightning channels in the first place.

He's upset about the Lightning Network because it's essentially a bunch of IOUs, which, he is arguing, is not Bitcoin anymore. I do get where he's coming from.

But yeah, I personally think it's a welcome improvement. It's a potential game changer and it's optional, so even the most hardcore purists can ignore its existence. Lightning is essentially just an option to replace hot wallets at the end of the day, and I'm sure people will still keep a vast majority of their funds on-chain anyway.
747  Bitcoin / Bitcoin Discussion / Re: Need Bitcoin Marketing For Globalization on: September 28, 2018, 06:18:33 AM
The best marketing you could possibly provide is actually using Bitcoin and asking merchants to accept it. We've reached a point where traditional marketing can't really affect adoption much because everyone has already been introduced to it one way or another. What most of them don't know is that it's more than just an "investment"; that's the area where we need to fill them in.

As an added point, I feel that billboards, commercials, etc. can very easily backfire because it would feed into the ponzi mentality. People who spend money on this stuff are inevitably going to have their motives questioned, and the line between marketing for adoption and for driving prices up could blur for the general public.
748  Other / Beginners & Help / Re: The way to escape from phishing sites on: September 28, 2018, 05:18:51 AM
It seems like this guide is for Ethereum anyway, so you may as well go all out by only using the offline version of MyEtherWallet. This method is completely immune from phishing attacks for as long as it's done correctly.
749  Other / Beginners & Help / Re: Can't run a scam/useless ICO by legit team? on: September 28, 2018, 03:02:31 AM
Scam ICOs is one of the reasons why regulations is necessary. [...]

Regulation can't cure stupid.

I agree. To be fair, nothing can cure stupid. The information campaign against ICOs seem to be working to some degree, but there's really no way to eliminate scammers and their victims. ICO regulations should help somewhat towards that end by making it more likely for scammers to face consequences.
750  Economy / Speculation / Re: Is $6000 to $7000 the stable price for bitcoin? on: September 27, 2018, 02:39:00 PM
For now. It changes every so often. It was stable at $10k a while back, then $8k, and now at $6k-ish. I know saying it changes a lot and that it's stable is contradictory, but you know what I mean. Bitcoin's market value doesn't play under the same rules as traditional assets lol.

If you're asking about the support level though, ~$6k is still a good number. The lowest Bitcoin has gotten this year (and the only time it went below $6k) was around $5.8k I believe, and that was only for a few hours.
751  Other / Beginners & Help / Re: Localbitcoins explanation on: September 27, 2018, 01:11:13 PM
I guess I don't really get why any "regular" person would be worried about KYC verifications. I mean, if they're already getting paid in check or direct deposit by their employer, then that means their bank knows exactly how much money they deposit and withdraw. On the other hand, if a person is making cash on the side or even full-time, then I can totally see why they would want to go this route. I guess I'm still confused why so many people use it? They can't all be making unclaimed cash...

Because the fewer entities that have your data, the less likely it would be compromised. You also definitely don't want to hand it over to entities you don't trust -- exchanges potentially fall under that because a lot of them are unregulated. That's really all it is for most people. Some value privacy a lot more than others.
752  Economy / Economics / Re: The basis of being a poor- how little or how big? on: September 27, 2018, 11:45:49 AM
-snip-

Exactly, being poor is subjective. Other's might consider themselves poor because they don't have a stable job. But those who have jobs can't even get 3 good meals for their family on the table. So its really hard to draw the line.

And being poor is a choice. If you don't want to live into the poverty then by all means do everything in your control to make your life comfortable.
I couldn't disagree more. People live under different circumstances. If poverty were as easy as telling people to work harder, then it wouldn't be a global problem. Governments are supposed to provide everyone with opportunities. If you were given an opportunity and you squandered it, that's your fault. If you were born poor and the government didn't try to help you in any way, then they share a huge part of that blame.

Case in point: Venezuela. 87% of their population is estimated to be below the poverty line -- how hard should they have to work? Is it still their choice that they were poor? I don't necessarily support getting rid of governments, but I can see why some people push for it.
753  Economy / Economics / Re: MEGA.nz Chrome extension caught stealing passwords, cryptocurrency private keys on: September 27, 2018, 11:17:22 AM
Beyond Chrome, which is something people should be avoiding if they value their privacy anyway, this highlights the fact that browser plugins are yet another attack vector. If you can live without them, please do so. This goes beyond the operating system too, so people using Linux or Mac should be equally cautious despite their reputation for being more secure.

That said I would be interested to know what the de facto, industry standard, browser of choice is for crypto currency aficionados.

I personally use Firefox with Duckduckgo as my default search engine, but I don't know if there's any sort of standard. I wouldn't be surprised if a lot of people used Chrome. Some people use so much of Google's services that changing browsers probably wouldn't do much for them. Convenience over privacy yada yada.
754  Economy / Economics / Re: The basis of being a poor- how little or how big? on: September 27, 2018, 09:22:09 AM
Each country typically has a poverty threshold, in case you're asking for precise numbers. It's determined with cost of living, etc. in mind. This is mostly used in official ecnonomic numbers.

Still, the word itself is largely subjective, as everyone who's struggling is likely to classify themselves as poor. There's no use in trying to draw a line between them.
755  Bitcoin / Bitcoin Discussion / Re: An open letter to the community, from the developers of Breadwallet on: September 27, 2018, 06:25:46 AM
a transaction of X inputs and Y outputs consumes more bytes with segwit than with legacy.

I just want to point out that Breadwallet's main reasoning behind their open letter is actually lower fees, and lower block weight resulting in more transactions per block than just legacy. You may be right that Segwit is actually more inefficient memory-wise, but they're not at all commenting on where development should be, or should have headed -- just that Segwit has lower fees now.

I'm against forced updates as much as any other person, but this seems more like a plea than a forced order. People really should do their own research before upgrading though.
756  Bitcoin / Bitcoin Discussion / Re: Do bitcoin debit cards help with scalability for now? on: September 27, 2018, 05:29:38 AM
From strictly a scalability standpoint, I don't think so. Bitcoin debit cards are usually used for services that don't accept Bitcoin to begin with, so there wouldn't be on-chain transactions anyway with or without their help. I guess it could be argued that they make fiat conversions less frequent, but a person can just as easily just convert a big amount directly to fiat all at once.

Are those services good for the ecosystem in total?

For now. They at least provide alternative mode of payments by making Bitcoin compatible (and I use this word very loosely) with legacy systems. If things go well, they'll be obsolete in the future.

How does it all work? Who gets the processing fees from the merchants running the Point of Sale?

I'm not sure about Coinbase's service, but you normally use Bitcoins to top them up and you end up with a fiat balance. It functions as a normal prepaid card from that point on.

Who gets the processing fees from the merchants running the Point of Sale?

Still the banks. You're using a run of the mill payment card as far as the merchant is concerned.
757  Alternate cryptocurrencies / Mining (Altcoins) / Re: Have more coins in your portfolio in a short term on: September 27, 2018, 02:24:13 AM
That's pretty sound advice, especially because it can make old-ish GPUs relevant. How do you choose which coins to mine though? I'm sure you've wasted time mining some coins that didn't take off as well, with so many useless coins popping up. You should probably share your experiences with those too.
758  Other / Beginners & Help / Re: Localbitcoins explanation on: September 27, 2018, 01:20:20 AM
Well you avoid shady exchanges and their tracking, for one. There's no shortage of exchange horror stories on the internet, and if those spook you, these platforms are your best alternative. Some people use these exclusively just for privacy.

That being said, they can be a little more expensive, as you said, and less convenient because trades don't usually happen as fast. It's up to the user whether they value convenience or privacy more, and that's great in itself because you have choices and alternatives.
759  Bitcoin / Bitcoin Discussion / Re: Adoption is rising: The Amount of Bitcoin in Active Wallets Is Near Record Highs on: September 26, 2018, 01:46:23 PM
-snip-

sometimes these articles have a purpose of advertising a certain service though. I am not saying t his is the case for sure but it certainly looks like it as there is no other reason for doing such analysis in first place. and the results of it are somewhat predictable. in other words you could have guessed that bitcoin adoption has been increasing and with it obviously there will be more distribution hence less coins in one address/wallet.
no to mention that two major events led to a lot of  funds moving around: 1. the ATH which makes anyone sell at least something. 2. the dozens of bitcoin forks which were practically free money giveaway and people moved funds around hence the more transactions

I see where you're coming from. This is the crypto world, and it's only smart to question people's motives. You're correct that this could very well be a marketing attempt. You're also probably correct that they only really stated the obvious for people who can connect the dots. I still welcome these figures though. I mean, everything we say is really just conjecture until someone shows up with numbers. These confirm some suspicions, at the very least. Maybe it will also get people to stop complaining about whales because it paints a picture where coins are distributed a bit better.

That is all, of course, assuming that they're actually good at what they do and that the numbers are as close to accurate as possible. I don't think there's really a way to confirm that though.
760  Economy / Economics / Re: Why Malta is the most favored Location for Crypto Exchanges? on: September 26, 2018, 11:34:14 AM
Why would I select to open a company in USA, UK, France, Germany or similar and be strictly followed and pay insane amount of taxes when I can bring my business to Malta and make boatloads of cash right on day 1 without worrying about government putting its nose in my business ?

Well it's advantageous to operate your business where most of the user base are. There's also a sense of security that comes with dealing with a company that doesn't operate from somewhere not much people don't know about.

Malta is hands-down better policy-wise just because of clarity alone, don't get me wrong, but if it were such a no-brainer, everyone would be packing up to go.
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