Which wallet is the best and why?
Overall speaking, I think Electrum is the best, especially for a newbie or a casual user. It is a thin client so you don't need to download all the blockchain data. It is a deterministic wallet so you only need to backup the 12-word seed. You can use Tor with it, to hide your IP. |
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I have used it for a year now. Never used it before, and want some advice. Thank you.
Could you be more specific on what kind of advice you want? |
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Whale is anyone that can cause a 80% crash in a big sell, like our friend mr 102 from btc-e  It bothers me that whales keep doing this. A couple of weeks ago, a Litecoin whale crashed the price of LTC to $3 on an exchange despite the fact that it makes no sense to dump such a huge amount of BTC or LTC at once. It would make much more sense to slowly sell off fractions of a stash - making sure you don't completely demolish all the buy orders and taking pauses in between to see how the market moves and to let the orders fill up again. You would think that most whales would be smart with their money to get to where they are today, but for some bizarre reason, this doesn't seem to be the case.  I believe they just made a mistake in entering the sale amount (like selling 4000 btc instead of 40 btc). I see no reason in deliberately crashing bitcoin price to $100 or litecoin price to $3, as it will go back up within minutes, and the coin sellers will have a huge loss. The primary motive of such behaviour could be market manipulation. Think of derivative markets. A whale could take a leveraged short position on an asset. Using derivatives his return will be magnified many times by a fall in the price of the asset. Sure, by dumping his asset he loses money, but the gains on the derivative front could dwarf this.
Is it possible to make such a huge leveraged position in bitcoin trading? |
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How easy would it be for someone with a mobile wallet to try to send a fake transaction, and get away with 0-confirmation transactions?
Nope you can't send a fake transaction. You may try to double spend a 0-confirmation tx, but if the first tx has no unconfirmed inputs and has at least min tx fee, the double spending attempt is very very unlikely to be successful. |
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POW is better, we just need it to be faster, like QUark.
If you are intrested in PoS have a look at NXT: http://nxt.org/PoS is more eco-friendly than PoW: no GHash of power needed to keep the network running. NXT generates new blocks at the rate of about 1 per minute, so transactions propagate faster. NXT is tring to implement instant transactions too... Please check post #4 by OP again, the POS in the thread title stands for "Point of sale" rather than "Proof of stake". |
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is blockchain.info really safe to store your bitcoins in? I heard some storys about that its an open book, will it affect any of my bitcoins? If so, what is an good alternative?  Blockchain.info wallet is IMO the best online wallet you can get, as you have control of the private keys to your bitcoin, unlike exchanges. |
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TammyChan  |
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TammyChan |
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TammyChan |
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Received the payment. Please sign me up again.  Posts: 553 Bitcoin address: 1BbGtHuFBmtwvz3X5yJsdhHEzC3wwAqdFa |
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So, you are predicting the world will end before 2020? lol No I am not. How can you assure bitcoin will even hit $10K ever in the world's history? It could be 3000 and bitcoin is at $4k. Sure. But you were predicting bitcoin price to reach 10K in 2017 or 2018 or 2020 just 2 days ago... I am curious what changed your prediction. Is it related to the current price drop to $560? |
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Iam going to say 2017 or 2018, that's when. Maybe up to 2020.
My prediction is the world will end before bitcoin hits $10K.
So, you are predicting the world will end before 2020? What happened to you in the past 2 days lol? |
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I have moderate prior computer knowledge, and understand bitcoin mining somewhat, where can I obtain more information?
https://bitcointalk.org/index.php?board=14.0Where should I start as far as mining rigs go? I want to put money into at least 2 units operating on 500-700 watts each and expand from there if i'm doing well. I'd probably build the units myself as I have always built my own computers, but mining rigs seem a little different. I was looking at these machines made by asic... they seem pricey but all pre-built computers are.. http://extremeasic.com/shop/coincraft-rig-2ths/If you are looking for profit, you should check a mining calculator before buying the ASIC. Just input the info, and check how much you can expect to get. |
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If you have done "quite a bit" of research then you should have realised that laptops are not useful for any mining.
And since $4 is about 0.068 BTC then 68000 days is as good a guess as any.
Omg really? didn't knew it was that hard to mine. Well it didn't used to be hard to mine. When Bitcoins were worth a few pennies each you could mine hundreds on a laptop and even then people tossed their wallets away because it wasn't worth the effort to try to sell 200BTC. Since the price has multipled over 10000x the difficulty has increased 10000x to match. Except now Bitcoin is even more popular so you can't even mine pennies on a laptop. You can check all the historical bitcoin mining difficulty in https://docs.google.com/spreadsheet/ccc?key=0AiFMBvXvL2dtdEZkR2J4eU5rS3B4ei1iUmJxSWNlQ0E#gid=0Current difficulty is 18,736,441,558 while two years ago it was 2,036,671 Current price is $560 while two years ago it was $9 So, difficulty has increased 9200 times, and bitcoin price has increased by only 62 times. |
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I am guessing by the end of 2016 (2 more years to go). No special reasons behind that, just my gut feeling. |
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TammyChan |
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Guys bitcoin will only fall for now and will rise once a Quantum Computer is created. Half of quantum computer problems have been solved so now its few years from now. The day this Computer comes in market the difficulty will rise like rocket and price will goto 100K$  I have no idea how quantum computing will change bitcoin mining, but I don't think there is a close relation between difficulty and price. For example, the difficulty is now 15x higher than last Dec, but the current bitcoin price is just half of the price back then. |
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I like freebitco.in through out my day at work, I'll claim it. Get enough to transfer it to PD to get my gambling fix in.
You could most likely get just 350 satoshi each hour with freebitco.in, unless you have lots of ref earnings. On the other hand, you will be a member in a few days (precisely next Tuesday) and you can join the PD sig campaign to get 40000 satoshi for every constructive post. |
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