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1101  Bitcoin / Bitcoin Discussion / Re: How to convert to USD? on: June 23, 2016, 03:28:54 PM
I am a student and don't really have bank account and won't have one atleast for next 3 years but i do own 25 BTC by my 3 year hard work.It really stress me to see bitcoin rates fluctuate so much. Some people say to immediately sell after halving to secure profit but i won't be able to do so because i have no way nor intention of converting it into cash yet.Now my question is how can i convert them into usd temporory online when bitcoin rates are up say 1 btc = 1000 USD then i want to convert my 25 BTC to 25000 USD and when it goes down i will buy again.Basically,i don't want to convert it into cash. I see websites like btc-e.com,bitfinex etc but do they need verifications etc and any limit on trades? and is it wise to hold that much bitcoin in exchange sites? I don't want to end up being the person who just kept holding bitcoins even when the price got upto 1000 usd and keep it falling down.Please advice something   Smiley

This is very easy to do.  Not only that, it is very safe.  Not only that it is very cheap.  There is a crypto called Tether.  It is always $1.  No matter what happens to bitcoin's price - one Tether is one dollar.  Trade your bitcoins for tethers, and then trade them back later.  This locks in your value to USD anytime you like.

Now here comes the good part.  You don't need a bank, or an exchange, or anything.  The system is done on a fully automated DEX or distributed exchange.  What that means is there is no middleman to take service fees.  

Just fire up an Omni wallet https://www.omniwallet.org/, put your bitcoins in there, go to the DEX, trade for Tether.  Later, trade back again.  Totally easy and there are no humans involved to fuck it all up with fees and scams.  

Over $1 million of Tether are traded every day.  So lots of people are comfortable with it.  Besides, these is an actual real 1$ on deposit somewhere that backs every tether in existence.  It is an amazing system and it is designed to do exactly what you asked for.

Wow! Really? I never heard of tether. This is awesome. I checked the website https://tether.to/ and it seems legit and safe. I will definitely try to use this with some of my funds Smiley

Its totally safe because there are no fucking people involved.  It is pure blockchain science.  It is 100% code.  It's been running for a long time now.  Quietly.
1102  Bitcoin / Bitcoin Discussion / Re: FUCK! Bitcoin is dead again. This time for sure. on: June 23, 2016, 01:58:41 PM
I do not believe that but that is your opinion. In my own opinion, Bitcoin is just starting towards success.😀
Bitcoin is dead.  Lost $200 in just the last two days.  Losing more money all the time.
1103  Bitcoin / Bitcoin Discussion / Re: How to convert to USD? on: June 23, 2016, 01:57:43 PM
There are many many many different ways to convert btc to usd like for instance, circle.com does debit, paxful does like everything, coinbase,ATM's, and so many other websites transfer btc for USD pretty easy nowadays
But all of these ways involve a human agent to handle the trade and they all charge fees.  You can do it for free as a Dex operation on the Omni platform. 
1104  Bitcoin / Bitcoin Discussion / Re: How to convert to USD? on: June 23, 2016, 01:56:40 PM
I had never heard of tether.io before. Is there such a thing as a tether wallet? I guess you need to go to one of the large exchanges to turn BTC into Tether?
Use OmniWallet to hold both bitcoin and tether (and a whole bunch of other stuff if you like).  Don't go to a large exchange, they charge money.  You can make this trade directly on the blockchain WITHOUT any agents!  Trade Bitcoin for tether all day long - it is pure blockchain transaction and no humans.  Cool eh? 
1105  Bitcoin / Bitcoin Discussion / Re: Perianne Boring of Chamber of Digital Commerce knows nothing about bitcoin on: June 23, 2016, 12:51:08 PM
Talk... talk... talk but with no real relevance or actual content, she gets paid to do this?

Looks great but doesn't know shit.  Sad
Well, then stop listening to her and look at her.

Precisely. Generally, when certain women talk, this is all I hear: https://www.youtube.com/watch?v=5HFiMXZiLAs
Let's not be a bunch of misogynist assholes.

Oh, look what we have here... a Crusader.

You need to worry about and speak for only yourself and take your blue pill mangina self and shove your feminism up your ass, then go fuck yourself.

That said, I said "Generally" for a reason. It's certainly the overwhelming vast majority of them.

This is probably a result of your very low intellect.  When you can't understand things, your brain just fills in with 'Whaw-wwa-whha'
Don't waste time trying to get an education, you are most certainly beyond any hope. 

1106  Bitcoin / Bitcoin Discussion / Re: How to convert to USD? on: June 23, 2016, 10:29:39 AM
I am a student and don't really have bank account and won't have one atleast for next 3 years but i do own 25 BTC by my 3 year hard work.It really stress me to see bitcoin rates fluctuate so much. Some people say to immediately sell after halving to secure profit but i won't be able to do so because i have no way nor intention of converting it into cash yet.Now my question is how can i convert them into usd temporory online when bitcoin rates are up say 1 btc = 1000 USD then i want to convert my 25 BTC to 25000 USD and when it goes down i will buy again.Basically,i don't want to convert it into cash. I see websites like btc-e.com,bitfinex etc but do they need verifications etc and any limit on trades? and is it wise to hold that much bitcoin in exchange sites? I don't want to end up being the person who just kept holding bitcoins even when the price got upto 1000 usd and keep it falling down.Please advice something   Smiley

This is very easy to do.  Not only that, it is very safe.  Not only that it is very cheap.  There is a crypto called Tether.  It is always $1.  No matter what happens to bitcoin's price - one Tether is one dollar.  Trade your bitcoins for tethers, and then trade them back later.  This locks in your value to USD anytime you like.

Now here comes the good part.  You don't need a bank, or an exchange, or anything.  The system is done on a fully automated DEX or distributed exchange.  What that means is there is no middleman to take service fees.  

Just fire up an Omni wallet https://www.omniwallet.org/, put your bitcoins in there, go to the DEX, trade for Tether.  Later, trade back again.  Totally easy and there are no humans involved to fuck it all up with fees and scams.  

Over $1 million of Tether are traded every day.  So lots of people are comfortable with it.  Besides, these is an actual real 1$ on deposit somewhere that backs every tether in existence.  It is an amazing system and it is designed to do exactly what you asked for.
1107  Economy / Service Discussion / Re: CCCB: Coinbase is close to Bankruptcy on: May 24, 2016, 06:24:09 AM
Please stop spreading lies. Coinbase is very healthy and we have a long runway.

Charlie Lee
Director of Engineering @ Coinbase
Get back to work and stop fucking around in Internet forums.  When your director of engineering is monitoring internet forums instead of building important shit - you know you are in very big trouble - $75M or $175M - you're going to spend it all if people aren't working.  
1108  Economy / Service Discussion / Re: CCCB: Coinbase is close to Bankruptcy on: May 24, 2016, 06:09:20 AM
What reports? Coinbase has a lot of venture capital behind them - They raised $75 million in 2015.
Can you say 'burn rate'?  $75M is nothing the way these guys were operating a year or two ago.  They've been spending money out their ass with a huge staff of people doing a bunch of bullshit.  The hype will really get to you.  I believe the reports.  Get your money out of Coinbase now - don't wait around until another Gox thing happens.  If you do, it is your own damn fault and nobody around here is going to listen to your fucking crying.
1109  Bitcoin / Bitcoin Discussion / Re: Bitcoin Convicts on: May 24, 2016, 05:46:29 AM
It deserves its very own thread.  Who else got jailed because of Bitcoin?

No. ConvictCrime
1)Charlie Shrem Money Laundering
2)Trendon Shavers Ponzi Scheme
3)Ross Ulbricht Silk Road
4)Carl Force Extortion of Ross Ulbricht
5)Shaun Bridges Secret Service - Theft
6)Pascal Reid LocalBitcoins
7)Michell Abner Espinoza LocalBitcoins
CoolMark Karpeles MtGox
9) Yuen Long MyCoin Fraud
10)Tin Shui Wai MyCoin Fraud
11)Wong Tai Sin MyCoin Fraud
12)Robert Faiella LocalBitcoins
13)John Powell Unlicensed Money Business
14)Ali Shukri Amin Bitcoin Aid to Isis
15)Yuri LebedevUnlicensed Money Business
16)Anthony MurgioUnlicensed Money Business
17)Richard Petix Unlicensed Money Transmission
18)Pankaj Bharadwaj Debit Card Fraud

Honorable Mentions: (close call)
#)Burton Wagner Unlicensed Money Transmission
#)Brian Mycon Gaming Website
Coming soon, these guys from the fine US National Guard:  Derrick Shelton, James Stewart and Quentin Stewart
Quote
The three Guardsmen each face as many as 20 years in prison if convicted
1110  Bitcoin / Bitcoin Discussion / Re: Bitcoin is dead again. This time for sure. on: May 20, 2016, 04:44:14 PM
Why did the bitcoin price drop to $430? Is there any reason for that? It is very concerning. I though $440 is the bottom.

Coinbase is gonna trade Ethereum is my guess.

Why would BTC price go down because of this?

I do not justify bitcoin down because of it. but if it's true, because maybe people today prefer trade ETH with the movement today continues to increase.
Ethereum has a very good team of guys working hard and no scaling problem.  Bitcoin has 20 assholes arguing their ass off for 18 months and they are GOING NOWHERE.  Getting nothing done is the fast road to death.  Every day, Ethereum gets tons of cool shit done.  I don't think bitcoin core devs have done one substantial thing in months.  You could see this coming a mile away.  Maxwell and his Blockstream boys fucked this all up.
1111  Bitcoin / Bitcoin Discussion / Re: Bitcoin is dead again. This time for sure. on: May 20, 2016, 01:10:03 PM
pumps and dumps for sometime so nothing new about it.
Now that Coinbase is switching to Ethereum because Brian Anderson hates Core programmers, it is over for bitcoin.  Once and for all.  Sell your bitcoin fast and get on Ethereum before it is too late.  

Bitcoin will go down to $100 in 4 weeks and Ethereum will go to $100 also.  This is a disaster.  Bitcoin is finally dead for sure.
1112  Bitcoin / Bitcoin Discussion / Re: Bitcoin is dead again. This time for sure. on: April 08, 2016, 07:34:06 PM
Large groups of well paid, organized, funded professionals with clear objectives and good management - (like R3, hyperledger, ethereum, others) are sure making those Core programmers look like the silly little whiny bitches that they are.  Core is going NOWHERE and getting there pretty damn fast.  Meanwhile, very sophisticated advance is being done every day in other part of crypto/blockchain. 

This is 100% the end of bitcoin as we know it.  Good thing too.  This 'open source', 'no leadership', 'no organization' thing was always a load of bullshit.

It was not always, but I agree. Remember that the end of Bitcoin as we know it is intentional, done by forces that wish to stop financial revolution. But maybe we could also thank them, Ethereum is an obvious Bitcoin de-throner, maybe even Monero.
Monero- lol.  That is a bunch of silly garbage. 
1113  Bitcoin / Bitcoin Discussion / Re: Bitcoin is dead again. This time for sure. on: April 08, 2016, 01:10:28 AM
Large groups of well paid, organized, funded professionals with clear objectives and good management - (like R3, hyperledger, ethereum, others) are sure making those Core programmers look like the silly little whiny bitches that they are.  Core is going NOWHERE and getting there pretty damn fast.  Meanwhile, very sophisticated advance is being done every day in other part of crypto/blockchain. 

This is 100% the end of bitcoin as we know it.  Good thing too.  This 'open source', 'no leadership', 'no organization' thing was always a load of bullshit.

FWIW, it sure was fun watching in real time loads of bullshit morph into R3, hyperledger, ethereum, etc.
Bitcoin morphed into those things - not 'open source', 'no leadership', 'no organizaion'.  All that still remains and did not morph at all.  It is called Core developers.  They are sitting around doing nothing and leaving bitcoin in a crippled state.
1114  Bitcoin / Bitcoin Discussion / Re: Bitcoin is dead again. This time for sure. on: April 07, 2016, 09:37:48 PM
The title like this appeared many times in the last 6 years. I remembered the bitcoin died many times before.

The title clearly indicates: "This time for sure".  The other times the declaration was not correct.
1115  Bitcoin / Bitcoin Discussion / Re: Bitcoin is dead again. This time for sure. on: April 07, 2016, 09:36:13 PM
Bitcoin is neither dead nor it will be dead in future too, and price drops is nothing new for bitcoin bitcoin has died several times but again it has rise and it will continue to grow in future too.
Have you heard about the stupid fucking log jam the Core guys engineered so they can offer their private solution called LN?
1116  Bitcoin / Bitcoin Discussion / FUCK! The Bitcoin is dead again. This time for sure. on: April 07, 2016, 05:08:29 PM
Large groups of well paid, organized, funded professionals with clear objectives and good management - (like R3, hyperledger, ethereum, others) are sure making those Core programmers look like the silly little whiny bitches that they are.  Core is going NOWHERE and getting there pretty damn fast.  Meanwhile, very sophisticated advance is being done every day in other part of crypto/blockchain.  

This is 100% the end of bitcoin as we know it.  Good thing too.  This 'open source', 'no leadership', 'no organization' thing was always a load of bullshit.
1117  Bitcoin / Bitcoin Discussion / Re: Bitcoin mining cost? on: April 06, 2016, 05:37:01 PM
in order to make some good money in mining right now you need to put a lot of money into it i think and you will surely need to get some free electricity in order to mine for decent profit

right now its not profitable to take up mining in my opinion and it will not be profitable for new investors for a long time as the difficulty is really high
lol - some people just don't get it.

Put any amount of money you want - the result will be the same.  The margin is ZERO.  Put $1 or $100 million - your profit is going to be very near zero. 

'free electricity' you can get some free electricity from the same store where you get unicorns  - this doesn't exist.  You can steal electricity.  Even if a corrupt government helps you steal it, it is still stealing.  Why not just steal gold instead of electricity?  There is no free electricity. 

'a long time' - Never.  Long ago, some anomalies existed that made mining very profitable.  But, those are all gone now.  The hash rate will now and forever track the block reward.  Maybe someone will discover a machine that does 10X hash rate - but I seriously doubt it.  Those jumps - are all gone. 
1118  Bitcoin / Bitcoin Discussion / Re: Bitcoin mining cost? on: April 06, 2016, 05:05:02 PM
Satoshi got this part wrong.  

What if bitcoin were still around $1 - $2 which is probably what satoshi was expecting.  Then, there'd be no ASICs, or only small ones.  Just thousands of BlockErupters each costing $100.  It'd take almost forever to ROI.  Nobody would develop 14um - way too expensive.  This would have been ideal.

But, bitcoin got WAY too popular too fast.   This means miners rushed to increase hash rate.  mining capacity went WAY up.  

This is how much the network consumes - precisely - and unambiguously

It is the average cost of electricity for all regions where mining is done, divided by the current reward rate (ie 25BTC soon to be 12.5).  

Just like sardines in the ocean.  The number of them depends precisely on the food available.  The population will grow with great efficiency until the food supply will be fully consumed.

The mining capacity will grow with great efficiency until nearly every penny is spent on electricity and the margin is tiny.  12.5BTC/10min is the food supply.  06 cents/kilowatt hour is the cost of electricity.  Therefore, the network will spend precisely $31,500 (6*12.5*$420) per hour buying electricity (presently (6*25*$420).  Mining profits are negligible - and always will be - because crazy fuckers will buy more machines the instant the margin rises slightly above zero.  100% of the reward rate is going to electricity.  (actually, miners have some other expenses too but we can just ignore them as small in comparison).  

Because the average cost for electricity is probably about $.05 or $.06/kWhr perhaps, the network uses (after the halfing):  525,000 kWatts!  ($31,500/.06).  About 500 Megawatts is the network consumption for the next coming four years.  No amount of adjustment or efficiency improvements can change that.  It is as fixed as the reward rate of 12.5BTC/10 minutes* (the food supply) (*assumes electricity rate average doesn't appreciably move from about $.06/kwhr).  

[But what if the sardines are smaller?  What if they are Japanese sardines.  Doesn't matter.  None of that matters.  Sardine breeding efficiency guarantees that the population will grow until it precisely consumes the food supply]

Bitcoin mining is the same.  It will very efficiently grow to meet precisely the food supply of 12.5BTC/block

WOW! Bitcoin network burns 500 Megawatts just to stay alive.  Smiley

The interesting thing is that this is a kind of 'tax' on the system.  It embodies itself as inflation.  New money comes into the network and gets burned off as payments to electricity suppliers at a rate of $31,500/hour.  Truth is, Bitcoin today is a VERY leaky system as a ton of value is being burned off by energizing guessing machines.  Yet, more suckers at a rate of $31,500 come every hour to join the herd.  The rest of bitcoin holders suffer this amount of 'dilution' as more units are in the network each block.  The good news, this stops in 2140.  Then, we'll pay for electricity purely with fees - but there will be zero inflation.  
1119  Bitcoin / Bitcoin Discussion / Re: OpenBazaar Opened , your first impressions ? on: April 05, 2016, 07:24:08 PM
https://blog.openbazaar.org/openbazaar-is-open-for-business/

We was all waiting for this moment since years , what is your first impression on this when you tested it ? Can we really beat eBay ?
You guys started selling your goods ? I personally didn't start ... yet .

It is totally ugly.  It reminds me of dungeons and dragons.  Dark and cold look.  What a piece of shit.  Will fail for certain.  Where can I buy a put option?
1120  Bitcoin / Bitcoin Discussion / Re: advantage of bitcoin debit card? on: March 04, 2016, 01:26:48 PM
Bitcoin debit card is very good idea and it will push bitcoin further to become a mainstream currency. But the world first needs to be educated about bitcoin. A majority of the world population don't know what it is and what its use.

But bitcoin debit card is a very welcoming change. Only I wish the fees are lower though.

I personally don't think so because those Debit cards (same goes with exchanges) defeats the whole purpose of using Bitcoin on the first place , I mean aren't we using because it's anonymous,low fees,decentralized  ? where is all that when you use Debit cards ?
anonymous?  Nobody cares about that except crooks.  We want the crooks to leave bitcoin.  decentralized?  Great for security - after that it isn't a life imperative to 'decentralize' everything.

Debit cards having bitcoin account attached thereto are very convenient as they significantly improve the liquidity of your bitcoin holdings.  Improved liquidity is very important for the next 10 years until bitcoin is everywhere.  The fees are actually very low.  In fact, zero for most purchases.  Go get a shift card and try it.  You'll be amazed how cool it is to have your bitcoin available at all times without having to go through a 4 day process before spending them. 
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