Moderator Blitz is suspected of being (paid or fooled) by permabulls and scammers to ban falllling from warning people about the incoming bitcoin final capitulation now he should feel guilty and cover people's losses, his admin right should be lifted by the forum admin asapWhat is a final capitulation? Can you give me an example of such a financial phenomenon in history or are you promoting an agenda? |
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I've been saying that state issued PoS coins are a good option for governments. I don't think premined PoW coins are ever a good idea. They (PoS) offer everything a centrally planned state needs. There can never be fair exchanges between them because of politics so instead people will use Bitcoin as a currency basket to exchange on decentralized markets.
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no man, according to these forums "you only lose when you sell"  Which is true. Then the reverse is true, you're not a millionaire if you're sitting on 1000's of BTC until you sell them. It's more of a corallary of the old adage "you make your money when you buy." |
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I like the term cryptofiat.
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Those posts are good places to collect ignores before they waste my time in real discussions.
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It won't be long before 50k rubles isn't worth a pack of Russian cigarettes.
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NXT is owned by ONE party so its just nod good.
Stop lying  NXT may be controlled by one party. There's no real world way to verify either way. It's like Byzantine Generals using anonymous couriers instead of their own recruits (to borrow a metaphor to use as a simile). The couriers may be trustworthy or they may be spies. No military trained General would ever trust such a courier, yet NXT people trust anonymous stakeholders (or their appointees) to not be bad agents. It's downright irresponsible to develop such a system. |
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Very simple Miners need a good value to make mining profitable, ( unless you know an electric company who accepts bitcoins as payments they need cash to pay the bills) if the value of the coin becomes so low it is no longer profitable to mine, BOOM instant failure, no miners means no transactions getting processed , if no one is processing transaction the coin fails. So you see the value is just as important as the structure behind the transaction protocol There are variety of asic miners mining all with different cost of mining - so thinking all of sudden at least half of them turn off the miner is pretty unrealistic. Unless the price crash to single digit this year it is safe to assume no retarging difficulty decrease will be over 30% (the same 30%, but increase we saw this year). So still 13 minutes of average confirmation time, no instant failure at all! I'm still seeing a 10 minute average blocks per hour and not expecting any slowdown. Miners still want fresh coins. Market volume doesn't reflect any trend in selling. A few are selling, but most are holding. The ones that are selling desperately need the cash and the rest of us know that when the market comes back it will be impossible to get the coins back cheap. Exchanges and brokers are placing buy and sell limits to how many coins can be exchanged. DDOS attacks tend to hurt panic buyers. It's just not worth worrying about someone dumping coins because it will be their loss in the long run. Regulated markets can be gamed this way, but Bitcoin will burn anyone trying to game the system because it is unregulated. We are seeing a wealth transfer from the speculators to the long term investors. |
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I think you have to have a loose grasp on many concepts to even ask this question.
Do Post Offices use more energy than an email server? Do bicycle messengers sweat more than fax machines?
In the USA, Post Offices are being closed in favor of parcel services. Many towns don't have them anymore. Besides, you can't email Grandma's cookies, but you can email and sign a contract. I didn't know bicycle messengers could deliver messages overseas, or was that a strawman? Not a fan of banks. But you will have to agree that banks do a lot more than money transfers.
It would be more accurate to compare Bitcoin to Western Union locations...
Banks don't do anything that can't be done by a machine. |
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At this low level of volume, it's a wonder that exchanges are not discounting trades. I suspect the new trading model is to suppress trades in order to gain commissions for bulk orders rather than depend on fees with low volume.
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the market is bleeding out cash slowly but surely .
everyone is hoping for a new late november pump but im afraid this year bitcoin is going to get dumped and dumped again.
btc will be dumped to 200 $ or even less by the end of the year.
waiting for the final capitulation of BTC and rise of a new coin.
Me too  But it was fun Price has nothing to do with Bitcoin development. Bitcoin development is leaving jurisdictions where progress is oppressed. Trading cycles have more to do with price. Sure, there were shenanigans teasing the market, but the market isn't that stupid. If government bureaucrats had not been manipulating sentiment, there wouldn't have been such a panic sell-off in the first place. Hostile governments will be bypassed. Volume has been nothing compared to last winter. New markets are emerging that are friendlier. Winter is coming. |
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Yes, I think so. But you can't ignore the significant role the bank bring to us in the daily life. Can you imagine our daily life withou bank at the moment? I think it is terrible.
lol, what? Yeah, banks are really great, rah rah lets go rapists! Rape us! Rape us! Rape us! (crowd chanting) Open your eyes dude, take off the goggles: http://en.wikipedia.org/wiki/Fractional_reserve_bankingOr if words and numbers arent friendly to you, try this video version (28,730 likes, 826 dislikes!): https://www.youtube.com/watch?v=iFDe5kUUyT0+1 |
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Ha! I tossed a joke right back at you I did! touché |
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That's an interesting question. Here in the Philippines there are tens of thousands of financial employees to serve over 100 million people. Each person consumes at least as much energy as an ASIC during their working life. They run air conditioning, drive cars, and use computers. We don't have as many of the big fancy lobbies and conference rooms that rich countries have. I would guess that just the Philippine financial offices use more energy than all the Bitcoin miners in the world combined.
It's really a crime that banks are allowed to destroy the environment this way. Wouldn't it be nice if they could tear down big financial office buildings and create parks and wildlife refuges instead?
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Another bureaucrat drunk with power.
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Fiat uses millions of times more energy than Bitcoin. Bitcoin will save the babies, puppies and rainbows.
Evidence? Just to continue the discussion, assuming you are correct for a second this figure isn't per person using the currency is it? World population: 7 billion (ref http://www.worldometers.info/world-population/). Lets assume that half of them use fiat currency, so 3.5 billion Estimated bitcoin population: 500k (ref http://www.reddit.com/r/Bitcoin/comments/197tqx/estimating_the_amount_of_bitcoin_users/) Ratio: 7000 fiat users to each bitcoin user. So current bitcoin electricity consumption has to be 7000 times less than current fiat electricity consumption in order to be on par. So, at a million times less energy consumption bitcoin would indeed consume less. So lets see this evidence? Cheers, Paul. Welcome to my ignore list. You spent way too much energy on that troll. Someone should alert the EPA. |
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...
The Dollar is not getting stronger. The Euro is getting weaker faster. ...
If that's so, what of Bitcoin? Fell ~60% rel. $  Uranium was cheap until it was discovered what it could do. Uranium was never expensive and THEN cheap  When they started putting it in tonics, it went up. Then when they found out it killed its imbibers it went down. Wasn't it radium water? You might also dig the x-ray shoe fitting machine (google pics). Don't have the data on Radium prices for way back then, but the first chart that popped up looks like BTC My point is that the price often reflects utility and that the utility of Bitcoin is of parallel importance as Uranium. |
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Is bashing brains in legal in your community?  |
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Fiat uses millions of times more energy than Bitcoin. Bitcoin will save the babies, puppies and rainbows.
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