The only way to change the behavior of the Bitcoin blockchain is to actually change the source code. So, in my opinion, the only solution for reducing the cost of transactions long term would be for the Bitcoin team to actually change the source. There have already been many discussions on what changes could decrease the transaction costs, so I don't need to go into the details. At this time, I don't think there is an application that you could build on top of Bitcoin that would be both 100% secure and reduce the cost of transactions.

I apologize for sounding like I was trying to attack your idea. It's a good idea. I just wanted to dig deeper into the concept so it can start generating some extra thought. A lot of times people just look at the surface of an idea when the things that interest me the most are the complex details. Exploring the details is a lot of fun.

Since you asked, my opinion is that one of the next big ideas in blockchain will be figuring out decentralized communication. A purely blockchain text, audio, and video communication service. Due to the amount of data and latency restrictions it would require a redesign of the blockchain, but I think it's possible.

This is not a reality though. Ideas are worth nothing. The execution of an idea is the only thing that matters. Let's take for example, Bitcoin. People have had the idea for decentralized currency for decades, the issue was that nobody knew how to do it in a way that guaranteed security and accuracy. There are millions of ideas in the world that simply haven't been executed well. Flying cars, purely P2P exchanges, generalized AI, etc. These are all great ideas that mean absolutely nothing because nobody has been able to implement them in a meaningful way. So, I think sharing ideas is actually good for society. Most people don't have the capacity to execute an idea well, so giving someone else the seed for thought who might have the ability will only benefit the rest of the world.

I personally don't think it's a bad idea because of the mobile part, but because it's not possible right now (or at least extremely impractical). All transactions need to be broadcast on the Bitcoin blockchain if you want to transfer Bitcoin. Otherwise, everyone using the application is sharing one Bitcoin wallet and relying on the security of the wallet to determine who has what amount of coins. Essentially, that means you would need to build a blockchain to maintain such transactions. At which point you need to ask yourself... Why would you ever want this? The transaction fees are high, but the electricity used for mining is also expensive. For many people, the cost of electricity would actually be higher than the cost of the fees. It's simply not practical. If you have an issue with the transaction fees for Bitcoin, you can always use other coins to minimize the number of times you need to do BTC transactions.

The problem isn't the idea, the problem is the implementation. How do you validate the tree? How do you register everyone for the tree? When do you pass assets to the descendants? How do you know if the parent wants their assets to go to their offspring? There are so many questions that need to be answered. It's way more complicated than people would imagine.

Why not just send them straight to your offline wallet instead of through another wallet first? Sounds like you're paying a lot of extra fees making more transfers along with the decrease in security.

Well, since other people are throwing their hats in the ring for applications you can use. I've made a trading bot called Crabby which we are still actively developing. You can use the backtest feature to look at some of the most common signals and see how those strategies would have performed over any time period in the last year. You can then set up bots. Since it's free to use, you don't have to worry about the high costs that some of the other bots make you dish out without knowing if it will help your trading.

http://crabby.io/

If you try it out, let me know what you think!

So, if you imagine far into the future this concept would be great. The issue comes from the current world we live in. I don't see any way something like this could be done without a rehaul of society. First, lawyers are necessary because inheritance is more complicated than a simple transfer of ownership. Also, how would it transfer ownership without the person who is receiving the inheritance ever having access to the private key of the person they are receiving it from? How would the blockchain verify people? If every person in the world had a secret key they used for the blockchain (similar to a SSN in the US, but more secure), and every public key was connected as a graph to other public keys that they could receive inheritance from, then it may be possible. However, this won't be possible for many years.

Like many others have said already, there is no 100% accurate way to determine where the price of Bitcoin will be at any point in the future. This doesn't mean that indicators are useless. They can still give you the trends and momentum of the market to provide you an educated guess. I would use a momentum indicator such as RSI or Stochastic Oscillators, large SMA/EMA periods to understand long term movement, and Bollinger Bands for short term changes and catching breakouts. Best of luck with your trading!

Remember that a sharp increase in Bitcoin like we have been seeing could also be an indication that exponentially more people are getting into Bitcoin. Since Bitcoin is the largest household name, people will buy Bitcoin first thinking it is the only cryptocurrency out there. Then, as the new users begin to discover altcoins, the market will spread out again. I think it's just a sign of larger market adoption, which is a good thing.

I appreciate your concern. I don't know how to assure you that our application is not malicious besides discussing the security we use. Our application accepts your Poloniex API keys and immediately encrypts them through well established protocols. It will never share your keys with third party applications or relay them to our servers for any reason. We also encourage our users to disable withdrawals so you can rest assured that your coins are safe on Poloniex. We don't have access to our users coins, so there is no chance of us or a third party accessing them through our application.

I don't know if this relieves your concerns, but my team and I are engineers who would not risk our livelihoods over stealing your coins.

Also, we are about to release an update to the application in the next few days, so if you have the chance we would love to hear your feedback regarding the update as well.

Happy Trading!

I would not call this a dump. If you look at the history of coins, you can quickly see that the trend cycles. The cycle simply oscillates between mostly increasing to mostly decreasing. Generally, if you look at all of an exchanges cryptocurrencies and sort them by most profitable to least profitable, you can place a pivot at the 0% mark. This pivot point will cycle from mostly positive to mostly negative ever so often. It's nothing to panic about, but it can be used as a trading tool if you know how to use it.

I've made a good trading bot application for beginners such as yourself. It uses popular strategies that you can test with the backtesting features to find which strategies would work best for you.

http://crabby.io/

It's completely free and has useful tools that will help you get started trading on Poloniex. If you try it out, let me know what you think!

This is an interesting idea, however, there are a few huge issues that would need to be resolved before it could become popular. One of the major issues with Airbnb is the customer server. How do you plan on doing customer service with a blockchain? Imagine for example, someone books a room and then they damage the room. There is no such thing as a "hold" on blockchains so you wouldn't be able to get reimbursement for damages. The same thing goes with refunds when booking something that turns out poorly. For example, when you take an Uber and the driver gets in an accident, Uber will refund the trip. You can't do that with a blockchain. There needs to be some way to inject customer service into an idea like this before it becomes mainstream. There are just too many issues that arise during a normal trip that a blockchain can't handle. Additionally, the high fees and long transaction times of Bitcoin make it impractical for frequent use.

Have you thought of these issues? What are you thoughts or plans to handle them?

It's honestly difficult to give feedback on an idea. The only thing that matters is execution. I would suggest actually making something first, then posting the product to get feedback to see if you executed well.

I'm sorry to say, but if you don't have the time to make a secure and well engineered exchange, you should not be making one at all. It's really that simple.

So, there are many things wrong with the proposal. First, you speak as if trading is a sure thing. If it was a sure thing, then everyone would have unlimited profits. However, this is not the case. There is a high chance you will actually lose money. What happens then? Are you willing to repay the losses?

Second, if you were so good at trading, why don't have you more BTC? Surely someone who thinks trading is easy money would have loads of BTC lying around. Even if you were starting at .01 BTC and had a profit of 30% a day you would have over 26 BTC after trading for a month.

Third, nobody would be willing to provide you with their actual login information. That's the easiest way to get scammed.

However, I will extend a one suggestion. Say this proposal was real and for some crazy reason someone wanted to accept your offer. That person should only provide you with their API Keys and turn off the ability to withdraw funds on the exchange. This would mean you would only be able to trade and not withdraw any of the coins. Then, after the 5-10 days, they can create new API keys and cut off your access.

When you write software, especially something as precise as Bitcoin, you would never be so negligent as to write code that doesn't consider every corner case. So no, removing those not in circulation would never be an option.

Oh wow, that is a big undertaking. There is a large misconception around here that you can just download a website like Poloniex and run a few scripts to have a multi million dollar exchange up. That is absolutely not the case. Each of those large exchanges has spent millions of dollars on security, infrastructure, support staff, buying reserves for each coin, and much more. If you want to start a multi million dollar exchange, I would suggest you start small. Pick something very focused and practical for you to implement and crush. Then keep expanding until you get to a larger scale. It will probably take 5-10 years, but that's really the only way it will happen.

Again, if someone tells you there is an easy way (such as downloading a simple script and website and running them) they are completely wrong. I can assure you there are no successful exchanges which downloaded their exchange online. The successful ones all built their exchange with a team of engineers they trusted. It can only be done through hard work and years of developing a sophisticated infrastructure.

Honestly, the largest thing (to me) that is missing from hardware wallets is the number of coins that are supported. When I was considering buying my first hardware wallet, none of them supported enough coins that I wanted to keep offline. If you could find a way to support 20 - 25 different coins, that would definitely make me a buyer. Of course that is probably a huge undertaking, but it's what I personally was looking for in a wallet.