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1  Bitcoin / Bitcoin Discussion / Re: What's going on? Bitcoin for the rich only? on: April 23, 2018, 12:42:43 PM

Even just a year ago bitcoin was useable... now the fees are about 10x what the banks charge. Seems like its changing from a peer-to-peer money system for everyone into yet another convenient way for rich people to exchange funds!

What went wrong> And more to the point, who is responsible? What can be done to fix it?

You got it that bitcoin use anywhere and it is up to us on how are we going to use bitcoin. Their are many people depends at bitcoin because it is hassle free and very good in different area.

At this point, what makes it wrong?
It makes wrong if bitcoin will use in wrong way and other people tend to do that because they think that it will be use anytime we want.

Bitcoin suppose to use in such for daily usage in the right way and helping other people too for charity. Their are many ways to trasact bitcoin it matters on how are we going to decide it.

Did you have to write an incomprehensible reply to a 10 month old post about something that isn't currently a problem? (fees are very low now).

2  Economy / Speculation / Re: Debunking the waste of energy argument against Bitcoin on: March 01, 2018, 10:33:25 AM
The hilarious thing about comparing it to fiat though, is that in the case with the US dollar, the value of the dollar is based on trust in the state which is:

  • Ensured by the government, whom we can't even trust to run efficiently with our tax money (i.e: causing shut downs over petty politics)
  • Protected by the military, who wastes so much effort, time, money and resources on government "contractors", which is a shit show in itself.  Seriously though... if you are interested in listening to a 1hr+ podcast on the topic I recommend listening to this one from Congressional Dish.
  • Purchase power of the dollar comes directly from our involvement in making sure that our currency is the currency all other currencies have to use in order to purchase oil, gas, etc (a.k.a. the "petro dollar") ... This is makes it funny just based on the amount of pollution that comes from carbon fuels.

fiat is the root of all evil in mind, and always will be until I'm proven wrong.

No one is disagreeing with what you say here, but it also has nothing to do with this thread!
Bitcoin is a massive waste of energy. All comparisons are unfair, as nothing else runs purposely so inefficiently.  Bitcoin could be run on a laptop, instead it uses as much energy as a country.
3  Economy / Speculation / Re: Debunking the waste of energy argument against Bitcoin on: February 23, 2018, 11:48:55 AM
Google used 5.1 TWh in 2015. Bitcoin is at 51 Twh.
Google offsets all of it's carbon footprint.
Google has over 90,000 employees.

I think that even the vast majority of people here use Google more often than they use Bitcoin!

4  Economy / Speculation / Re: Debunking the waste of energy argument against Bitcoin on: February 23, 2018, 09:59:57 AM
I´m tired of hearing the argument "but Bitcoin wastes more energy than
a whole country..." all over the mainstream media.

Here are a few reasons why the energy that is consumed by Bitcoin mining is not wasted:
1. The energy that is consumed by Bitcoin mining is the foundation of the security of the network
2. Proof-of-work is superior to other consensus algorithms like Proof-of-Stake and offers less attack vectors
3. Fiat currencies are supposedly backed by the power of the state... meanwhile the US military consumes more energy than Bitcoin mining per year
(this is a comparison of the military of a single country compared to a truly global currency)
4. No one is talking about the enormous costs of transporting fiat money, securing it and printing it in the first place
5. The mining of other commodities is extremely energy-intensive as well

If you take all these factors into account, Bitcoin may actually be less energy-intensive than traditional
fiat currencies. Besides, many mining companies have set up their operations in countries with an abundance
of renewable energies like Canada or Iceland. The days where Bitcoin was solely mined in rural Mongolia and China
may finally be behind us.

I don't think that much was debunked by your post.  

1) the energy consumed is a side-effect, you could actually better name it a waste product, of mining.
2) this may be the case, but how safe does the network have to be? PoW may be currently the most secure, that can change.
3) this is a Krazy (note the capital K) comparison. The US military employs millions of costs trillions to run. It too is a huge waste, but it couldn't be done with 1 guy, unlike the Bitcoin network which could be run on one PC.
4) Fiat money is far from perfect, that is why Satoshi made Bitcoin. If the world went cashless - something most don't want - the costs of fiat money would be very low.
5) Other commodities? you mean Bitcoin is a commodity? In which case it isn't a currency? Ignoring that, much like answer 3 - if 1 guy with 1 spade could mine all the required gold/silver/iron/lead etc that the world needs by himself, I would be strongly for him doing that.

I don't see being a supporter of Bitcoin as being a fan of massive energy wastage. Satoshi himself didn't want an arms race into GPUs, I doubt he envisioned huge ASICS farms using a significant percentage of the worlds supply of electricity!
I don't see an end in sight, but it is certainly a way that Bitcoin will be attacked in the future. When cars have emission limits, do you really think that governments will allow Bitcoin miners to use as much electricity as they want?
5  Economy / Speculation / Re: Whats your exit strategy? on: January 12, 2018, 07:57:38 AM
I have already sold a good percentage of my Bitcoins and now I am just waiting longer term to see what happens.
I was lucky that I bought in 2014/2015 so could sell my Bitcoin tax free this year, I have taken a pretty good profit out of it already but want to stay in the game in case it moves up more and more as some think it will.

I don't want to fully exit, I'd be too worried that the price would be $100,000 in a few years, and i sold at $15k...
6  Economy / Speculation / Re: 2018 Cryptocurrency Crash (Elliott Wave) on: January 09, 2018, 02:02:52 PM
Meh, if the price falls to where it was 10 months ago, that isn't the end of the world!

If the majority of Cryptocurrencies no longer existed, I really think the crypto world would be better off. There are probably a maximum of 25 worthwhile coins, the others are copies and crap, even if they are worth over $1 billion!

The prices won't go up forever, but I am more confident of the crash being controlled now, than I was 6 weeks ago when everything was going crazy!
7  Economy / Speculation / Re: Bitcoin domination era is over? on: December 30, 2017, 10:26:54 AM
If another coin takes over from Bitcoin as number 1, then Bicoin's domination will be over.
ETH actually got fairly close once, but it was a blip.  XRP is in a super bubble, it will fall back down.

There is so much new money in crypto at the moment and Bicoin has been sideways/down for 3 weeks (i know how ridiculous that sounds) so people are moving into Alts. Bitcoin is still THE coin. Ripple especially is more complicated than Bitcoin and lacks most of the advantages of Bitcoin (as well as some obvious disadvantages)
8  Bitcoin / Bitcoin Discussion / Re: Forbes Magazine calls Bitcoin a "Great Scam" on: December 29, 2017, 03:43:30 PM
Its really not a great arguement, he basically says it has no value because it has no value.
The dollar on the other hand has value because we all agree that it has value. Well that's the same for Bitcoin.

Share prices and commodities are the same, markets decide the price. You may find the market decided price to be too high or too low, but it is what it is, it isn't a scam!

Bitcoin might be overvalued, or undervalued, it isn't a scam though. It is a weird bubble too, if it is a bubble. It went crazy for a while a month ago, but now hasn't crashed. The next move will be interesting
9  Alternate cryptocurrencies / Altcoin Discussion / Re: Bitcoin Fork issues on: December 29, 2017, 09:23:26 AM
I did just that with the Bitcoin Gold fork. I wasn't so stupid as to put in the key from a full wallet, I emtpied it of Bitcoin first, but I lost my Bitcoin Gold as the official website pushed a scam wallet which wiped accounts.

Just be safe. These new currencies often bounce after a few weeks anyway, so you don't have to rush to be first in to sell by taking any kind of risk.
10  Economy / Economics / Re: Is it possible to survive on crypto while pursuing MS in the US or Germany? on: December 29, 2017, 09:20:47 AM
Will I be able to cash out and at the very least support my livelihood if I pursue Master's degree in countries like USA, Germany or Australia? I dont want to do odd jobs, only dedicate my time to studies and maybe trade a little when I need to make cash.

How much savings do you reckon is needed to survive for the 2 year course as a student? Will cashing out and such be problems being a foreigner?

In Germany you wouldn't need $50k per year to study, as long as you are happy to live like a student.
I reckon 15.000€ would be enough per year for a flat share and living reasonably..

Living on Crypto would be more difficult. There is a supermarket that accepts Bitcoin and a take away service, but you'd be severely limited in your options, as well as getting badly ripped off by paying in Bitcoin for a 10€ pizza with 25€ of Bitcoin (more recently)
11  Local / Deutsch (German) / Re: Finanzamt sagt FIFO ist anzuwenden on: December 22, 2017, 06:02:30 PM
Ich finde FIFO ungeeignet für Bitcoin, wenn man ein bisschen mit Alts tradest.

Schaut mal dieses Beispiel: Jemand kauft 6 Bitcoins in Nov-16 und transferierte 1 Bitcoin auf Poloniex. Er tradet Bitcoin mehrmals gegen LTC hin und zurück und gegen Monero und Ether usw.
Jetzt in Dez-2017 sind seine 5 unberührte Bitcoins nicht steuerfrei zu verkaufen, da er die lauf FIFO schon mehrmals verkauft und wieder gekauft hat, obwohl die nur in seinem Wallet die ganze Zeit gewesen sind. Das finde ich schwachsinnig.
12  Bitcoin / Bitcoin Technical Support / Re: My transaction unconfirmed for 96 hours , please help me on: December 22, 2017, 05:24:44 PM
I don't understand why they are stuck in network!!
why they won't rescue
how satoshi made this network  ! this is big bug

Here are the 4 places I would look at:

be very careful paying money to people to accelerate them.
13  Local / Deutsch (German) / Re: CoinTracking - Gewinn/Verlust Portfolio und Steuer Reporting für digitale Coins on: December 22, 2017, 01:38:18 PM
Hat jemand einen Referrer Link für CoinTracking? Gern per PN
14  Economy / Reputation / Re: VOD Has to go He threaten life of another member for a loan on: December 22, 2017, 01:15:53 PM
Over react much?

He is clearly joking, he doesn't have your address, he hasn't lent you any money, you haven't failed to pay back.
All of those points show that it is a joke.  He is suggesting that your offer of 1BTC interest is too good to be true.

Go to the local police, they will laugh at you if they read the thread!
15  Bitcoin / Bitcoin Technical Support / Re: My transaction unconfirmed for 96 hours , please help me on: December 22, 2017, 11:41:40 AM
Hi klimt,

I have tried, we will see if it goes through in one of the next ANTpool blocks, I can't guarantee anything, but hope it works for you
That is a lot of money to have hanging in the air for 3 days!
16  Economy / Exchanges / Re: How BITTREX try to scam his users: BE AWARE! on: December 22, 2017, 10:01:22 AM
Dear All,

I wanna thank you for the messages.

We found the issue: i opened an account never used 2 years ago, maybe verified with my national ID (it's unclear because actually seems UNVERIFIED).
I never had a transaction there.

I totally forgot the existence of that.

But it remains still unbelievable how Bittrex manage this kind of situations; 1 month for the first reply, and now "maybe one ore more month for consolidation process (they have to verify me AGAIN and then, erase the older account consolidating my identity into 1)".

They aren't scamming, but customer support is inadequate to allow the users to stay safe and allow them to trade with profit.

So do you not think that you should delete the thread, or at least rename it?

Maybe - I violated the T&Cs of Bittrex, so they temporarily suspended my account - would be more suitable?

You may have noticed that Bitcoin has been getting more popular recently. I dare say that the customer services are overwhelmed and will take longer to respond than they would have a year ago. Throwing around scam accusations because of your fault isn't fair. There is also a scam accusation sub-forum that you should have used.
17  Bitcoin / Bitcoin Technical Support / Re: My transaction unconfirmed for 96 hours , please help me on: December 22, 2017, 09:46:57 AM
I made two transaction and both are unconfirmed for long time ,Please someone push them for confirmation i need cash Sad
I don't use btc again never again  Angry



I accelerated them on ANT pool, hopefully that will help.

The fees would normalls be ok - 80 sats and 130 sats or so, but at the moment they are way way too low unfortunately.
18  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 22, 2017, 08:33:23 AM
Breaking 24777$ prediction game

7th March 2018
19  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 22, 2017, 07:08:32 AM
This is getting crazy pretty fast!
We'll be back to November prices if this crash continues for long!

The fees are a joke though, I can see why people would jump ship when the fees are 1000sats per byte. I guess only the people with coins on exchanges will dump though, it's too damn expensive to transfer to dump!
20  Local / Deutsch (German) / Re: Bitcoin & die Steuer - FAQ on: December 22, 2017, 07:04:51 AM
sorry wenn es eine dumme Frage ist, aber was ist mein Personlicher Einkommensteuersatz?
Wenn ich circa 4k€ pro Monat als Angesteller verdiene, zahle ich 26,5% Steuer (durchschnittl.) auf dem Gewinn, oder 40% (der Grenzsteuersatz).    
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