Bitcoin Forum
July 29, 2021, 03:21:43 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 »
81  Economy / Economics / Re: Who will process transactions when we'll hit 21MBTC? on: June 08, 2017, 04:20:45 PM
Maybe it's a newbie question, but I suddenly thought about it.
In a few years (in terms of history), about 100 years, all the 21 million bitcoins will be on the market.
then, miner will get only transaction fees for processing the blockchain and no reward.
I believe that many of the miners will find it not profitable, and will quit out.
What do you think will happen then?

Transaction fees are already enough for the miners. The mining reward is simply a gift.
82  Bitcoin / Bitcoin Discussion / Re: How is bitcoin not multi level marketing? on: June 07, 2017, 01:44:10 PM
We tell our friends about it and they buy it at 10% more than you paid for it just because you have the in.

Did they really need this in their lives?

Bitcoin is multi level marketing the same way gold is multi level marketing.

I don't give my friends or family investment advice. Best way to loose friends.

To know if Bitcoin is a multilevel marketing you should know what multi level marketing is.

Multi-level marketing is a strategy that some direct sales companies use to encourage their existing distributors to recruit new distributors by paying the existing distributors a percentage of their recruits' sales; the recruits are known as a distributor's "downline."

Bitcoin is not controlled by any company, it is under an open market and it does not give a percentage to anyone who encourage people to buy bitcoin.  So Bitcoin is not a multi level marketing.

Don't make me post a definition of comprehending Wink
83  Bitcoin / Bitcoin Discussion / Re: How is bitcoin not multi level marketing? on: June 07, 2017, 12:42:44 PM
We tell our friends about it and they buy it at 10% more than you paid for it just because you have the in.

Did they really need this in their lives?

Bitcoin is multi level marketing the same way gold is multi level marketing.

I don't give my friends or family investment advice. Best way to loose friends.
84  Alternate cryptocurrencies / Altcoin Discussion / Re: How Etheroll and other Dapps will kill Ethereum on: June 04, 2017, 08:42:16 AM
In 2 earlier posts I wrote about the lack of scalability for Ethereum. To sum it up: Ethereum can handle around 15 Ts./sec before transactions are rejected. You might think: “Well, that’s more than Bitcoin with 7 Ts./ sec” but here’s the catch: Ethereum is not about coin transactions only, the founders sold the project as the world’s universal computer to handle everything from decentralized Ubers to P2P-cloudstorage and more. According to their community there’s absolutely no limit to what this brilliant system will achieve. Maybe it’s time to see where things are today.

The network is headed for around 200k “transactions” a day. A number Bitcoin saw around a year ago. Notice the exponential rise over the last few weeks, where is it coming from? The price of ETH is 1 factor for sure, but as devs start to make websites like “Etheroll” things add up quite fast. A 12 second block only allows for 180 transactions. This means that 200 active gamblers can take up all the Ethereum mining resources. And this is just 1 Dapp. What if we see Dapps like Gnosis, Augur and others becoming populair?? Bitcoin has the luxury to be a “transaction only” system. They still have some time left before they reach 7 Ts/sec. Ethereum allows for interactions next to transactions. Miners have to calculate stuff on the Ethereum Virtual Machine (EVM)and there’s only room for 15 transactions a second so far. Vitalik Buterin is successfully selling his project to half the planet claiming that “sharding” will be the magic sauce to fix all scalability issues:

Founder of Ethereum Vitalik Buterin claims he has found the ultimate solution to the problem of scalability haunting cryptocurrency networks. That will be made possible with lightning networks and sharding.
Well, how is this ultimate solution working out so far? Let’s look at the Ethereum blog to see where they stand:
Metropolis is the next major planned hardfork for Ethereum. While Metropolis is not quite as ambitious as Serenity and will not include proof of stake, sharding or any other similarly large sweeping changes to how Ethereum works, it is expected to include a series of small improvements to the protocol…
Clear, stuck around a 15 Ts/sec. limit for the coming period as well. That’s around 1,3 million transactions a day and we’re heading there with exponential speed as Ethers became the new Tulips and Dapps are doing what they supposed to do: interact with the Ethereum blockchain. If Etherol reaches only a tenth of Just-Dice’s popularity (check their stats here) all mining capacity is filled.

Some blocks already show 99 transactions as they take quite a long time to be mined. Imagine 2 or 3 populair Dapps interacting with the blockchain. They would take up all mining capacity, killing the creativity of a lot of Dapp developers.

The Ethereum representatives should stop overhyping their project and come up with a near term real solution (if any) to the scalability issue. They should also stop to deceive their community with quotes like:
After the initial basic sharding (which will result in the implementation of Ethereum 2.0) Ethereum 3.0 will be developed — a blockchain system that will be capable of infinite sharding.
So far we’re stuck around 15 Ts/sec. and there’s no single solution coming in the next few months/year. Chances are big that Ethereum will kill itself before the innovation arrives. Miners will exclude a lot of Dapp interactions as they can only fit a certain amount of “people” in a room. Ethereum is not a worldcomputer, it’s a small virtual machine with quite some scalability issues.

Don’t believe the hype.

That's fucking interesting, man.
85  Alternate cryptocurrencies / Altcoin Discussion / Re: How to make a Private Key to Wallet Import Format for Litecoin? (WIF) on: June 03, 2017, 09:24:16 AM
Hello Community,

I was checking out and wanted to use it, and had a cold storage litecoin wallet that I wanted to import my private key to Exodus.   There's a option to do so called "move funds" and when I click on that it says, Private Key (WIF)?  Paste Litecoin Private Key in (WIF) Format.   

I type in my private key that was on my wallet and I get a Invalid error.  It's because I don't have my Private Key in (WIF) Format, but I don't know how to do it.  I've searched online on how to do so, but just see info on bitcoin WIF and that has Sha-256 where litecoin doesn't so that wouldn't work for LTC.   

If anyone could give me instructions on how to get my key to be converted to WIF, I would greatly appreciate it.  This is the first time I've ran across this issue, but then again I'm not super up to date on all the cryptocurrency info and tips.    Thanks again everyone.

Something like might help.
86  Bitcoin / Legal / Re: Transferring bitcoin and legal concerns on: May 29, 2017, 08:26:57 AM
Hi I am new to bitcoin and just done my first $1k transfer and was wondering if anybody had better knowledge regarding legal concerns around bitcoin transfer.

I know that when wire transferring money over $10k to an international bank account, my bank automatically reports it to authority. I was wondering if the bitcoin exchange does the same and or if there is any limit in the transfer amount + any tax or legal issues I should be aware of. I am planning on transferring money back and forth internationally to a different account under a different name.

Thanks in advance.

I'm looking forward to the day govts make math illegal.
87  Economy / Speculation / Re: Wall Street laughed at a call for bitcoin at $25,000—Market Watch Article on: May 26, 2017, 03:31:25 PM
only takes one wallstreet whale to pump BTC  Grin

The dude abides!

I'm looking forward to the day we measure stock equity price in Bitcoin and not in Dollars.
88  Alternate cryptocurrencies / Announcements (Altcoins) / Re: (PRE-ANN) Monero without the Asshole Team - brought to you by on: May 25, 2017, 06:59:56 AM
i never buy any coin on a big announcement or believe anything that is said. SDC was one, the coins are becoming very high in price and people are getting greedy, i think what he did is very bad, it may effect the project long term.

That's the point.  Monero is not a scam coin or a get rich quick coin. It's for the long term.

What's wrong with pointing it out?
89  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Monero Classic - brought to you by on: May 25, 2017, 06:39:55 AM
What exactly did they do?

Here is the official announcement
90  Economy / Speculation / Re: Bitcoin Will Hit $1 Million In 5-10 years, What’s your say about this? on: May 25, 2017, 05:13:12 AM
Bitcoin Will Hit $1 Million In 5-10 years, What’s your say about this?

One thing is sure: it cannot steadily go there over a long period like 5-10 years.  It would mean all the speculative money out there would see it grow steadily, and not jump the train ?  No.  If it gets there, it gets there FAST.  (and back down after that maybe).

You cannot have an asset that outperforms the market by a huge factor for years and years in a row, with steady certainty.  It has to go in unpredictable bangs.  Do you think hedge funds and so on, who are sitting on huge money to play with, are going to do their best to gain 10-20% or so a year in the classical speculative circuit, when there's an asset out there that has been rising 100% a year, year after year, without touching it, and let them be outperformed by a set of amateurs, year after year, on a sleazy exchange ?

Of course, if you have 10 billion to play with, you cannot play on a chain with only 30 billion market cap, that's for sure.  But what is sure, is that bitcoin, nor any other speculative asset, can steadily and almost predictably rise year after year in a way that makes professional financial speculators look like school kids.

It can go up because the market it is replacing is USD. You Know-how much if that shit is floating in cyberspace?
91  Alternate cryptocurrencies / Altcoin Discussion / Re: Where do you exchange your cryptocurrencies into real money? (Euro €) on: May 21, 2017, 06:06:21 PM
Thank you for the answer,

I know that cryptocurrencies is also real money  Wink but it's right now not possible to pay the bill via cryptocurrencies.
Would like to cover all costs caused by mining with the cryptocoins. To be as fast as possible ROI and after that point I'm going to save some cryptocoins.
I think they have a huge potential to grow big.

Therefore I would like to know which platform is the most reliable one with fair fees and securities.

With your info I got now the following exchange platforms with the following ranking based on the best BTC/EUR price.
If someone has good/bad experience with some of them, please mention it.

Rank 1.
Rank 2.
Rank 3.

hope we can get some more together... think that could help some miners and holders.

Ah. Pay bills with

They are Dutch I think. Great company.
92  Alternate cryptocurrencies / Speculation (Altcoins) / Re: ETH will go down or up? on: May 21, 2017, 06:00:53 PM
I see and topic that ETH will have alot of investor coming up this week (21 may to 24 may)
do you think it will go up to 0.1?
im still confused

sorry for my bad english

Both Smiley
93  Alternate cryptocurrencies / Altcoin Discussion / Re: Where do you exchange your cryptocurrencies into real money? (Euro €) on: May 21, 2017, 03:13:25 PM
Hi guys,

would like to know where you exchange your cryptocurrencies to EUR.
What are the fees and why did you choose that exchange platform?

I'm new at this segment and I'm a bit confused cause I couldn't get exact informations regarding crypto exchange into real money (Euro €).

I don't mention an exchange into other cryptocurrencies only into realy money!

Would like to know where the big guys are active... to get at least a bit security and a fair exchange rate.

Is it possible to exchange back to EUR (€) with bittrex?
As far as I saw... the most exchange platforms supporting only the exchange into other cryptocoins what makes no sense for me now.

Thankful about any help and thanks in advance.

I think you are using the term real wrong. Bitcoin is most definitely real money. Euro is real too.

I guess you should just check out It's a regulated European exchange.
94  Bitcoin / Bitcoin Discussion / Re: Some Bitcoin related service was hacked and User/Pass are leaked on: May 20, 2017, 09:16:26 PM
Apparently a couple weeks ago some sites started noticing unusual activity where there have been many sign-in attempts made with thousands of usernames.

At first Safedice caught this and cautioned everyone. Safedice assumed Bitsler was the leaked site.

However I am getting alerts of unauthorized login attempts with my username with various sites, and I have never been a member of Bitsler which means the leak is coming from somewhere else.

Anyone know of any Bitcoin related site that was hacked recently?

I know Bitcointalk was hacked about 2 years ago but most likely its something new since those passwords were all most likely changed by now.

For the time being, MAKE SURE TO USE 2FA

And in case it's not obvious, don't use the same password anywhere.
95  Bitcoin / Bitcoin Discussion / Re: Is there a solution to hackers using Bitcoins for ransoms? on: May 15, 2017, 08:10:56 PM
I'm sure many of you have seen the news about the WannaCry ransomware?

Do you think cases like this will affect Bitcoin negatively in the long run?

Even though Bitcoin is not the issue in cases like this, I feel like Bitcoin gets shown in a negative light. Since these hackers are only requesting payment in BTC this is what ignorant people get attached to.

I've heard plenty of people say things like: "Oh bitcoins...aren't those only used by hackers?"

Obviously these people are in the minority and do not know what they are talking about but it seems to be what lingers with some. I also know a lot of people that invest in Bitcoins, mine them, etc.

My big fear is that the government(s) are going to start trying to become involved to help curb situations like this. Does anyone else worry about this for the long term future of Bitcoin?

The big question there anything that can even been done to prevent situations like WannaCry?

The beauty of Bitcoin is that it's decentralized, but will that maybe be it's downfall too?

The solution for criminals is easy. Switch to dollars and paypal. 

This is why bitcoin is better money, nobody can seize it from you without a rubber hose.

Run better operating system. Keep backups of data you care about. Don't click on or plug in I trusted links or hardware.
96  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Is there anything coming exciting that could make ETH pump? on: May 14, 2017, 04:33:52 PM
IT looks like it's finding a good balance around 0.049, might be a good idea to start looking at the roadmap and see any further news that could pump the price.

LTC got LN and all the tech related to LN and segwit for further pumps, what does ETH have on the pipeline to risk some BTC in hopes for a pump?

Unlimited Ether creation?  Oh, what that's the other thing.
97  Alternate cryptocurrencies / Altcoin Discussion / Re: why is this segwit transaction taking up 8k? on: May 11, 2017, 04:39:38 AM

Charlie says "Easter egg?"

Otherwise, SegWit.
98  Bitcoin / Bitcoin Discussion / Re: 7.5 Billion People / 21 Million Bitcoin = 1 Bitcoin For Every 357 People on: May 09, 2017, 06:26:11 AM
Fun topic! Tongue

The population will continue to grow at an exponential rate. Demand will grow for Bitcoins and other cryptocurrencies, uncertainty will grow in the Stock and Real Estate Market. This is creating the perfect storm for increased purchasing power for BTC.

Due to its rarity and world population boom with many of them being un-banked, there only option will be Bitcoin and other crypto's!  Wink

David BTC Silverspoon

You better recalculate. Some of us have more than 1.
99  Alternate cryptocurrencies / Altcoin Discussion / Re: Getting LTC off paper wallet on iPhone? on: May 07, 2017, 04:48:10 AM
Is there an iPhone app that will let me import private keys from Litecoin paper wallet. Must be an iOS app, I don't have a computer.
try LoafWallet or Jaxx.
100  Alternate cryptocurrencies / Altcoin Discussion / Re: Could Monero replace Bitcoin soon? on: May 07, 2017, 04:37:20 AM
No, is very hard this thing happen but maybe Monero can bump his price again. so I will keep an eye on this coin.

but i'm surely monero can't take over bitcoin.

There was never even a remote chance of it replacing bitcoin, and it seams that the price pump is over too. It dropped ~50% from peak price, and it seams there
will be a double bottom too, because it now begun to dive again.

In regards to bumping price up again - that's definitely possible, because the volume seams good enough to catch eye of the investors and speculators, but doubt it will
ever gain a stable price. The only ones that seam to be interested now are miners with older mining gear that cant mine ethereum due to lower amount of ram on their gpu's.

I would like to see more dice sites use Monero.
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!