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222
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Other / Meta / Re: Why can't we tip on here?
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on: November 24, 2014, 09:13:18 AM
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that would be really cool and breath new life into this forum Lolled so hard. Considering that bitcointalk hasn't been improved at all in the past years, I would be surprised if Thermos has any developments for the future in his mind. Does anyone still send money to these crooks btw? |
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223
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Bitcoin / Bitcoin Discussion / Re: Why does "Satoshi" remain anonymous?
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on: November 23, 2014, 10:21:54 AM
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Why does Satoshi remain anonymous?
I think because he has trillion dollars worth bitcoin and on which he don't wanna pay tax..  Actually, the speculators would piss themselves in fear if the satoshi btc has moved. I think he knows very well that it would be the biggest crash if he touched those coins. If he was motivated by making money, I think he would have cashed out already a long time ago. Obviously there's a chance that he/she will move it, but I highly doubt that. |
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224
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Other / Politics & Society / Re: Is there a reliable charity organization ?
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on: November 18, 2014, 02:16:23 PM
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I didn't see this thread, I'll post it here as well if the other one gets deleted: EFF and wikileaks are 2 of my favourites. LEAP (Law Enforcement Against Prohibition) is interesting as well: http://www.leap.cc/I would avoid donating to Sean's outpost as they are not transparent and denied requests to account for the donations. Jason King has a history of drug addiction and previous cases of fraud, which is quite alienating. |
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227
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Economy / Scam Accusations / Re: Charlie Shrem is a scammer, watch out
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on: October 09, 2014, 06:38:29 PM
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btw,
I asked casascius to give me some kind of pgp signed statement that I bought the coins in question directly from him,
to get at least some ground on this claim I am making
he surely has my name and address, because he sent them to me by mail
almost 48 hours passed since, and no reply from casascius, I did send him only one pm, only here, but still...
I don't know why, but I think charlie contacted him regarding these coins and I suspect that here also could be some dealing under the table.
If I am wrong, I will apologize
just saying...
First thing first, you should contact a lawyer and discuss your options. It will cost a bit but well worth the expense. Collect all the evidence and correspondence you have, speak with a lawyer and progress from there. |
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228
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Economy / Economics / Re: Reasons to HODL!
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on: October 05, 2014, 02:20:19 PM
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Considering how the newbies are freaking out, I think there's no need for manipulation besides the known market forces (eg.: merchants still have to convert their btc, relatively small number of users, uncertain regulations, etc).
Anyone who believed in the potential of this system welcomes the downtrend in my opinion. Personally, I've been buying in smaller amounts from $450 in ~$50 decrements and plan to do this even if we go below 200 (or for that matter to 0).
For the ones who are uncertain I would advise to sell (all/some) as they clearly ignored the warnings about volatility or bought too many.
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229
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Bitcoin / Bitcoin Discussion / Re: Will we ever know Satoshi's next project?
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on: October 04, 2014, 08:40:31 AM
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Hes watching Bitcoin but i'm sure hes either working on the next paradigm shift
We are still far away from a paradigm shift in relation to bitcoin. While the community grew, an alarming number of people are merely looking for the next bubble to capitalize on it. As for the most people out there, they do not care about anything really, expect the following: - Do and think as little as possible - Instant gratification - Less responsibility - Passive entertainment - Greed - Reproduction As long as TPTB can keep spinning numbers and distribute propaganda nothing will change. |
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230
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Bitcoin / Bitcoin Discussion / Re: My company can no longer take BTC.
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on: October 04, 2014, 08:25:44 AM
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Three months have passed; not a single order has been paid for with BTC.
I'm not sure what did you expect. If success would equal to accepting bitcoin, then everyone would do it already. It depends on your product and marketing too. Bitcoin is still small, expecting any sales for an average shop is only wishful thinking, there's a high chance that your business do not appeal to the demographic of bitcoiners. I'm not sure how others do, but I avoid spending if the exchange rate is depressed anyways. |
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232
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Bitcoin / Bitcoin Discussion / Re: Transaction cost in kWh
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on: October 02, 2014, 08:41:12 AM
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Is there a chart which shows estimated transaction cost in kWh?
How much bitcoin network at all (miners, nodes, lite clients) takes energy for transaction proceeding?
My calculations are too weak:
Current bitcoin difficulty hashrate is 250 000 000 GH/s
Modern asic miners do 1000 GH/s for 600 W
So, the whole network runs as 250 000 such devices
(In fact the current miners take more energy)
In an hour bitcoin network takes 150 000 kWh power and produces 3000 transactions
So, one transaction costs today at least 50 kWh (this is low estimate)
Are there more correct estimations and time-graph?
Thank you. Sorry, English is not my native language.
According to the ATM Industry Association there are about 3 million ATMs installed worldwide. Unfortunately I can't find the article at their site where I saw this number approximately a year ago, but there is another one that predicts the number of ATMs installed to be 3.5million by the 2017: https://www.atmia.com/clientuploads/b_newsletters/apr13/withdrawals.htmlLet's say that we have 3 million ATMs, half of which is switched off for any reason (malfunction/whatever), so let it be 1.5 million. I would not make a mistake if I assume that each ATM draws at least 100W from the wall while it just waits for the customer (but I suspect it is more than 100W), so 1.5 million ATMs consume 150.000 kWh. This is not including expenses to maintain the rest of the infrastructure. Who does pay these expenses? You. The cost is hidden in the prices for goods and services: every merchant pays fees to the service provider, who in turn pays fees to the network. Don't tell me that the number of transactions the Visa/MC/e.t.c. network process times bigger than the bitcoin network handling to the moment. The hashing power that maintains bitcoin network security does not depend on the number of transactions included into the blocks. Using bitcoin and not contributing a single cent to its network security you may send a transaction with zero fees if the time to process is not important and it will be processed sooner or later. For tiny 0.0005BTC you get your transaction processed reasonable fast (anyway faster than SWIFT transfer) Who pays for this? Geeks, enthusiasts of different kind, investors who believe the potential of the Bitcoin. more like 300W+/ATM All the ATMs use very old hardware (5+ years). As windows XP became EOL, there was some publicity about this but afaik ms extended the support for clients operating atms. |
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234
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Bitcoin / Bitcoin Discussion / Re: Why consumers are not adopting BTC
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on: October 01, 2014, 06:56:32 PM
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Bitcoin is still just a toy of the 1%. Neither the masses nor any serious government entity will embrace bitcoin given the fact that it is entirely too volatile and untrustworthy. Its just a high-risk investment vehicle for speculators. And the greed element is not going to slow down.
I would like to be proven wrong, but realistically, bitcoin has already been co-opted by the forces of evil.
(facepalm) Typical gloomy attitude when the exchange rate is depressed. It's always the same, every single time. |
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235
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Bitcoin / Pools / Re: [9000 TH] Slush's Pool (mining.bitcoin.cz); TX FEES + VarDiff
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on: October 01, 2014, 10:11:40 AM
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I think that when the exchange rate becomes stable enough people will begin keeping more coins. But when a major portion (or most of) their business is run using fiat currency, it makes no sense to keep coins and watch some of your investment go down 10% in a day.
Indeed, I completely agree with this part. Perfectly illustrates how early we are. Look into hedging, hopefully it will be a reality soon for bitcoin. Also, stability comes with wider adoption and better coin distribution. If you run a btc business the least you can do is to pay your expenses in btc (eg.: internet services and other things that you can buy with btc) and urge your suppliers/utility companies/employees to accept it. I doubt the BTC will ever be stable enough for a company to keep its cash in BTC. there are too many devious ways to manipulate it. Companies only care about profit which means you must cash out asap. dropping on 1% is a 1% loss and a loss is bad, the ceo doesnt get a 10% bonus with a 1% loss! In my opinion it has a chance...If enough people and businesses adopt it (it doesn't even have to be legit or in 1st world countries). I think manipulation is not the best word. Bitcoin markets can be easily moved at this stage that's all. EDIT: Volatility is a known factor for businesses. Again look up hedging. Airlines hedge against fluctuations in fuel prices for example.
Yes, a business like Bitcointalk is able to operate in Bitcon so successfully because all of its overhead is also paid in Bitcoin. Unfortunately we don't have that luxury.
Location matters. In the beginning there wasn't any accepting places anywhere and look at the progress now. Bitcoin is built by the community not forced by a government or pushed by companies with huge budgets. If nobody worked in their free time to improve the scene then we couldn't have reached the current level. |
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237
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Bitcoin / Pools / Re: [9000 TH] Slush's Pool (mining.bitcoin.cz); TX FEES + VarDiff
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on: September 30, 2014, 03:36:36 PM
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I think that when the exchange rate becomes stable enough people will begin keeping more coins. But when a major portion (or most of) their business is run using fiat currency, it makes no sense to keep coins and watch some of your investment go down 10% in a day.
Indeed, I completely agree with this part. Perfectly illustrates how early we are. Look into hedging, hopefully it will be a reality soon for bitcoin. Also, stability comes with wider adoption and better coin distribution. If you run a btc business the least you can do is to pay your expenses in btc (eg.: internet services and other things that you can buy with btc) and urge your suppliers/utility companies/employees to accept it. |
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238
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Bitcoin / Pools / Re: [9000 TH] Slush's Pool (mining.bitcoin.cz); TX FEES + VarDiff
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on: September 30, 2014, 03:22:38 PM
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It wasn't an offense, only that the recent price moves are anything but extraordinary when it comes to bitcoin.
Yea.. And I was merely just asking a questions for all u bitcoin mathmaeticians. That know a lot more with it all and stuff. I'm aware this kind if thing happens with btc. It'd s just nice to get info sometimes, info on your theories. In my view the following aspects have the most significant effect on the bitcoin markets (not in any specific order): - Annual inflation of 10% - Most merchants do not keep considerable amount of btc, they convert at POS (hopefully this will change with wider adoption and hedging) - Regulatory uncertainties and the hostile attitude of banks and MSM - Demand because of utility (be it remittance, dnm, gambling, porn, speculation, etc) - Sub-optimal coin distribution Considering that the fundamentals have not been changed or affected, I think there's no reason to be concerned, though volatility can be expected for many years to come. At the end of the day, it all comes down to supply and demand (and your personal risk tolerance). For me bitcoin is a definite buy below 450. btw, nobody knows considerably more than you, so you shouldn't listen to anyone but yourself. for most people it's a random walk. |
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239
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Bitcoin / Pools / Re: [9000 TH] Slush's Pool (mining.bitcoin.cz); TX FEES + VarDiff
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on: September 30, 2014, 02:42:26 PM
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Hey all y'all smarty pants.
Wondering if Anyone has any brilliant predictions or explanations as to why the $/btc is plummeting so insanely quick.
You must be new.  Strap on your seatbelts. Not rlly. I'm a pretty old member. Iv just never spoken cause my IP was banned and never cared to fix it. (I used a proxy, I like my security) I like his I ask something. And just cause I asked... Oh u must be new. Talk about accusations and judgemental It wasn't an offense, only that the recent price moves are anything but extraordinary when it comes to bitcoin. |
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