Bitcoin Forum
July 29, 2021, 11:12:29 PM *
News: Latest Bitcoin Core release: 0.21.1 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: « 1 2 [3] 4 5 6 7 »
41  Economy / Speculation / Re: Could Bitcoin price increase to $1 Million one day? on: June 30, 2017, 05:04:16 AM
Some said it will.  What do you think?

(The estimated 2017 GDP in the US is $19.4 trillions.  If the price of a BTC increases to $1M, with 21M in total supply, the market cap would be $21 trillions.  Of course, the $19.4T is in present value and the $21T is in an unknown period of future value.)

Bitcoin will increase to $1 million some day. When it does you will not want the $s anymore.
42  Alternate cryptocurrencies / Altcoin Discussion / Re: After 2018 the state of the cryptospace will be all about anonymous coins on: June 30, 2017, 05:02:50 AM
The uncontrollable and aggressive investment platforms that have arisen in the form of ICOs have caught and tempted everyone's greed including the traditional investors. I speculate that it could get bigger in all of 2018 before the government regulators all around the world combine forces and put a stop to all of it and come after the people behind them.

Most of them will be very smart about it and hide their wealth in anonymous cryptocoins. We know one of the most effective in hiding your privacy is Monero. What are the other anonymous coins can you recommend?

Don't buy Monero.  Don't buy cash. Keep using bank cards and at a minimum Bitcoin.
43  Economy / Economics / Re: Crypto Billionaires on the Forbes List on: June 29, 2017, 09:13:41 PM
Vitalik Buterin is one of the youngest billionaires right?

The last number of eth I remeber Buterin holding was 700,000.

@ current eth price of approx $300.

700k * $300 = $210,000,000.

Buterin could have more eth but would need around 3.5 million eth to reach $1 billion.

Then taxes could take a big chunk of it.

I believe it took, just as examples, Steve Jobs and Bill Gates much, much longer in their careers to reach this level of wealth. Food for thought.
44  Alternate cryptocurrencies / Mining (Altcoins) / Re: In my country the miners have bought up all the video cards Radeon. on: June 29, 2017, 07:25:33 PM
In my country the miners have bought up all the video cards Radeon RX 470 and 480. The price has gone up 2-3 times. Really this card can be purchased for $ 600. What is the situation in your countries?

What country?
45  Economy / Exchanges / Re: Something bad is happening at Poloniex on: June 29, 2017, 05:55:25 AM
If they dont keep a fair amount of all cryptos they accept in trading in coldstorage liquidity problmes will arise. Peple doesnt seem to learn. Everyone saw what happened with banks after the subprime. As crypto is no tregulated i dont expect them to behave diferently. When you have lots of mellions standing in fornt of you, its dificult not to be greedy.

Perhaps those Poloniex problems caused the btc price to decrease from 2600 USD to 2400 USD?
What if a future Poloniex crush make the bitcoin price to go back to $ 1300?
I was thinking about all cryptoccurency exchange plarforms to make a "cryptocurrency reserve system"
like the federal reserve system and keep some bitcoins in a separate fund.

Lol Smiley good one, man.
46  Economy / Exchanges / Re: What is everyone's coinbase limit on: June 27, 2017, 05:02:48 AM
$500 ... which is way too low. What is yours, and is there a way to speed up the process?


You mean Coinbase.com

Coinbase has a very specific meaning in Bitcoin and Litecoin which is not the company that does fiat/Crypto exchanges.

https://en.bitcoin.it/wiki/Coinbase

FTFY
47  Alternate cryptocurrencies / Altcoin Discussion / Re: Generating GENESIS_TX MONERO first block on: June 26, 2017, 09:06:23 PM
How to generate GENESIS_TX first block. Can you give some suggestion?

MONERO

Leave string
GENESIS_TX - empty
GENESIS_TX = "0"
GENESIS_TX = "0x0"
And recompile.

Can you tel me please.
Thank you o/
i would like to know too.
48  Bitcoin / Bitcoin Discussion / Re: Bitcoin savings account? on: June 26, 2017, 05:59:12 AM
Is there any upcoming project that would act like a bitcoin savings account?
yes

It's called dollar devaluation.
Just HODL your Bitcoin like they aren't making any more. 
49  Bitcoin / Bitcoin Discussion / Re: What if Governments Shutdown the Internet? on: June 25, 2017, 09:29:08 PM
I honestly think Bitcoin isn't decentralized enough considering that government still controls the Internet and can easily censor or shut them down (is this even possible?) anytime.
The move by government to make us go cashless by gradually phasing out cash is even more worrisome, could make them have absolute control over us.
We need some sort of decentralized "physical Bitcoin" that doesn't depend on the Internet and can be exchanged for online Bitcoin.  It is too risky not to have offline alternatives to Bitcoin to act as backup plan for online Bitcoin in case something big goes wrong.




Pls I need to know something,  Is it possible to exchange Bitcoin with other people without being connected to the Internet?
Let say the government bans the Internet and you have your Bitcoin offline(in cold storage right?), can you exchange the Bitcoin to the next person by simply transferring some Bitcoin from cold storage to his/her computer, phone or even data storage devices(like SD Card, USB, Hard drive etc)?
If this is possible then no need for the "Physical Bitcoin"


That's the great thing about Bitcoin. Leave that govt controlled area with your backup seed phrase and you will have access to your money in your new land.

I forgot to mention. Govts don't control the Internet, we do. So there's that.
50  Alternate cryptocurrencies / Speculation (Altcoins) / Re: If you only got to invest in one altcoin which one would you choose? on: June 25, 2017, 08:32:52 PM
If you only got to invest in one altcoin, which one would you choose?

Feel free to join our discord chat for altcoin trading https://discord.gg/mjx2KNn

Not Monero (XMR)
51  Bitcoin / Bitcoin Discussion / Re: What if Governments Shutdown the Internet? on: June 25, 2017, 08:19:10 PM
I honestly think Bitcoin isn't decentralized enough considering that government still controls the Internet and can easily censor or shut them down (is this even possible?) anytime.
The move by government to make us go cashless by gradually phasing out cash is even more worrisome, could make them have absolute control over us.
We need some sort of decentralized "physical Bitcoin" that doesn't depend on the Internet and can be exchanged for online Bitcoin.  It is too risky not to have offline alternatives to Bitcoin to act as backup plan for online Bitcoin in case something big goes wrong.




Pls I need to know something,  Is it possible to exchange Bitcoin with other people without being connected to the Internet?
Let say the government bans the Internet and you have your Bitcoin offline(in cold storage right?), can you exchange the Bitcoin to the next person by simply transferring some Bitcoin from cold storage to his/her computer, phone or even data storage devices(like SD Card, USB, Hard drive etc)?
If this is possible then no need for the "Physical Bitcoin"


That's the great thing about Bitcoin. Leave that govt controlled area with your backup seed phrase and you will have access to your money in your new land.
52  Economy / Speculation / Re: any chance bitcoin to rise up to $5000 this year or a fatal crash? on: June 24, 2017, 06:04:13 AM
Hello all experts, what do you guys think about it? Is there any chance for bitcoin the digital currency to rise up to the level of $5000 this year. I just read a news and now they are saying bitcoin speculators are the new day traders which definitely means the volume is rising and so are the traders.

Yes there is a chance of $5000 this year.

Next years. Vance is $18000.

In 2020 or sooner Bitcoin mining reward will half again to 6.25 BTC per block.

Bitcoin will be extremely rare.
53  Bitcoin / Bitcoin Discussion / Re: [BREAKING NEWS]: Satoshi Nakamoto Is Dead!!! on: June 23, 2017, 05:34:54 PM
Note: this is a theoretical thread to discuss what would happen to Bitcoin, its price, and fanatics if it was suddenly revealed who is Satoshi Nakamoto and that they are now deceased.

What would happen to:

1. Bitcoin technology;

2. The price of a Bitcoin;

3. How would the community feel.

Discuss.

We don't know who he/she/they were. How would we know if he/she/they die?
54  Alternate cryptocurrencies / Altcoin Discussion / Re: DASH v Monero on: June 23, 2017, 11:44:07 AM
In this post I will attempt to compare two cryptocurrencies that both have privacy features, DASH and ZenCash. These two coins are at very different stages in their development cycle. This is reflected in their different circulating supply, price and marketcap. Dash was released three and a half years ago, in January 2014, which in the cryptocurrency space makes it something of a veteran. Today Dash is worth just over $180 a coin, has a circulating supply just over 7.3 million, and has a marketcap of over $1.3 billion. Not bad for three and a half years of development. By contrast Zencash - released less than a month ago as fork of and evolution of an earlier community based zkSNARKs implementation - today is worth $6.70 a coin, has a circulation just over 1.5 million, and a market cap of approximately $10 million.

Dash and ZenCash have fundamental differences above and beyond obvious differences of time in market, development stage and market weight. But first I would like to discuss similarities between the coins.

Dash and ZenCash both have a funded development model whereby a portion of the block reward is reserved to fund the development of the project, for example hiring staff, paying consultants, marketing and the like. This is different from the situation with other better known coins like Bitcoin where the miners receive the 100% of the block reward. For Dash, 10% of the block reward is reserved for treasury to pay for development and promotion of the coin, and the remaining 90% is split 50/50 between miners and master node operators so each of these parties get 45% of the block reward.

ZenCash is quite similar in that 8.5% of the block reward is reserved for the DAO and the core team to fund developers, outreach, and partnerships. This is similar to Dash, ie. a funded treasury to fund the coin’s development. ZenCash will have secure nodes. The complete details of the stake requirement and incentive entitlement of ZenCash secure nodes is yet to be completely finalised, but one proposal has been that they will receive 3.5% of the block reward. This is in some ways similar to Dash masternodes, but with a much smaller share of the block reward, although ZenCash nodes will also be different in ways that will be explained below. Dash and ZenCash also have similarities to Bitcoin, and each other, with a total maximum coin supply of 21 million.

ZenCash and Dash are also fundamentally different in key ways. Dash has a coin mixing option called PrivateSend. This mixing is supposedly one of the masternodes key jobs - although I will discuss below my thoughts on the real purpose of Dash masternodes. PrivateSend is better viewed as a privacy enhancing feature, rather than a feature that provides a private transaction. I have written elsewhere that simply mixing one’s transaction with say three other people’s transactions is not sufficient to stop a resourced adversary from tracing links in the broader network (Dash blockchain) to “see through” the mixing process, and identify the true sender and recipient. PrivateSend does not conceal the amount sent.

ZenCash on the other hand implements a very recent zero knowledge cryptographic protocol known as zkSNARKs, which shields both the sender address, recipient address, and the amount sent. This process implements zero knowledge cryptography, so there is no mixing process involved and therefore no mixing process an advanced adversary could compromise through network analysis.

Another difference is Dash mining has now moved to ASICs, whereas ZenCash uses the Equihash algorithm and is not mined with ASICs. Equihash is considered far more ASIC resistant than Dash’s X11, and this in fact appears to be the case as X11 mining quickly transitioned to ASICs. ASIC resistant mining algorithms are considered to promote better decentralization of mining on the network, whereas ASICs - due to their specialization and high price - promote centralization. Greater decentralization is considered to better secure the network, or, to put it better, greater centralization increases risks to the security of the network.

I wish to now discuss strengths and weaknesses with both coins. Beginning with Dash, its masternode system and governance model have been a resounding success. It paid for marketing and all sorts of other things that anyone who has kept an eye on coinmarketcap.com knows worked very well. In fact, ZenCash was almost certainly guided by the success of this model when deciding to itself reserve 8.5% of the block reward for treasury. Dash masternodes clearly reduced the supply of the coin in the market and this too drove up prices.

ZenCash is fairly clearly superior in terms of privacy to Dash, and this is important for some people. ZenCash secure nodes, while they will not be incentivized to the degree that Dash masternodes are, will be sufficiently incentivized to ensure their profitable operation. ZenCash nodes also fulfill a genuine and necessary role on the network in addition to reducing circulating supply and potentially putting upward pressure on the coin price. They’ll provide constant encryption, including certificated encryption, and domain fronting. This will encrypt the entire network, and will have practical implications like holding a permanent and encrypted InterPlanetary File System available to ZenCash users.

Dash and ZenCash are also not without weaknesses. Dash, back when it was called Darkcoin, had a shady start, with about 10% of the final total supply of 21 million instantly mined in the first couple of days be the founder and his associates. This was because nobody else had any working mining software and so couldn’t mine. But to be fair, he’s spent the last several years dedicated to Dash, and I’m sure there would not be a single early Dash investor who would hold this against him. In fact there would be numerous millionaires among those early investors who bought in when it was $2.00. Dash masternodes also don’t really serve a purpose other than to starve supply of the coin and push the price up. This has been great up until now, but now Dash wants to continue growth by becoming a mainstream payments system with its development Evolution. It’s hard to see how this squares with having well over 50% of the coin supply out of circulation as masternode stakes.

ZenCash is not without its embarrassing moments either. One of the former developers had something of a meltdown and attacked the coin. Fortunately the rest of the team managed this, and managed his exit, but still not a good look. Of course, ZenCash is also very early in its development. It has great plans, and a good model, but it will need to implement.

Overall, what are my views on these two coins? I like both of them. I think both have excellent funding models that allow proper development and marketing and I think both have dedicated, capable teams. I think both have the opportunity to rise in price, although given its much smaller marketcap and earlier stage of development I view ZenCash as having more opportunity for exponential growth. ZenCash nodes will also provide an opportunity for passive returns, the same way Dash masternodes did before the exponential price rise of Dash made them an unaffordable investment for most.

Dash masternodes are so highly rewarded and numerous that with over 50% of the supply staked to them I do worry about it, notwithstanding their success in driving the price up to this point. To me having over 50% of possible supply out of circulation is quite at odds with their Evolution goal to become a widely adopted mass payment system. Then again, they’ve overcome other challenges in the past, so perhaps they can again.

Well, anyway good luck out there on these wild seas!

Why do you say Monero in the title and then talk about Zencash? 
55  Bitcoin / Bitcoin Discussion / Re: Brainwallets. Anyone still using them in 2017? on: June 22, 2017, 08:27:49 PM
I have never used a brain wallet actually , but when I first heard about it I thought that it's extremly cool
was planning to create one actually , but I didn't know that they are insecure !!
hope some one can explain why they are insecure ?? and are all of them generally not secure or just people who are using few words to create the wallet

There is nothing technically wrong with brain wallets. The problem is with humans and their ability to generate enough entropy.

Almost anything someone can think of and remember means someone else or a computer can think of it too.

This is the problem. If you truly have a good enough pass phrase with enough entropy then the braineallet will be fine.
56  Economy / Exchanges / Re: Send USDT from Bitcoin wallet on: June 21, 2017, 05:18:56 PM
I want to move USDT from my exchange so I sent $5 to my bitcoin wallet to test. Does anyone know how I can withdraw USDT from my bitcoin address? I do have the private key.

You should be fine but you need to download Omni core wallet, import your private key through the debug window then let the blockchain sync up.

Edit: http://www.omnilayer.org/
57  Alternate cryptocurrencies / Marketplace (Altcoins) / Re: I'll like to sell $60 worth of Zcash for Bitcoin or Eth on: June 21, 2017, 03:07:07 PM
Hi
I'll like to sell $60 worth of Zcash which i want to exchange with bitcoin or ETH you can reply to my post  or pm me your offer.
Cool with trusted members else escrow unless you are willing to go first.

Thanks

https://ShapeShift.io
58  Economy / Speculation / Re: Sell Bitcoin ahead of 1st Aug Hard Fork on: June 20, 2017, 07:43:06 PM
Hi everyone,

I have recently sold a large part of my BTC  portfolio as I was spooked by a various sources telling me that BTC was heading for plummeting prices  following 1st Aug and hard fork.  They have also said that  July will be incredibly unstable in terms of price as we approach the deadline.  I a now sitting on cash and waiting for the best time t go back into BTC

Given that the price of BTC has risen every day this week and feeling that I sold unnecessarily and am considering buying back in.  can you feedback to me.

1) Is the 1st Aug really going to be that bad and should we expect volatility in July as we approach the date?
2)  Would you buy back in now or wait sitting on cash for a better price entry point in the coming weeks?

Thanks all

Matt

Quite the opposite. Many people are acquiring extra in anticipation of a coin split. You would then have coins on two networks!
59  Alternate cryptocurrencies / Altcoin Discussion / Re: USDT wallet? on: June 19, 2017, 02:22:48 PM
Is there any good USDT/tether wallet for windows?

It's called Omni Wallet
60  Alternate cryptocurrencies / Altcoin Discussion / Re: [NEWS] Monero Fire Burning Out of Control ! on: June 19, 2017, 11:00:01 AM
Spoettard is a Dash employee and is paid per post to bash Monero lol

fucking Spoettard  Grin

Thanks for the tip.
Pages: « 1 2 [3] 4 5 6 7 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!