I see ~93% of the volume is on Poloniex and Kraken: http://coinmarketcap.com/currencies/ethereum/#marketsDoes anyone know if these exchanges enforce strict KYC and keep records of all trades so that authorities will be able to determine who was selling to whom? So an investigation could determine if the insiders were buying from themselves to manipulate the price? Afaik, this would be insider trading and should get them jail time (at least afaik according to SEC regulations). The fools who support these scams by buying the coins and promoting them, are giving the government every reason to regulate alt-coins. You are polluting the well from which we all drink. In Poloniex I am pretty sure I have seen some strange things. In the LENDING section, I have seen automatic compilation of a great amount of prices: they did it to lower the price for lending money. I have seen appearing like 30-50 new offers with slightly different % and low amounts at low % fee. Then they disappeared and after some time reappeared. I cannot tell if that was from Poloniex itself though, or from a user, but I don't think a user can submit so much data in a single second, unless they have some kind of automated program to do it. Is there anything similar for Poloniex? |
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How is it not exactly that? Difficulty is made to keep btc stable no?
Yep, but as the guy above pointed out difficulty only adjusts every couple weeks. Some serious increases in hardware have been introduced recently so they outpace the adjustment for a little while. Can you please show me how you make so much money on this calculator? The parameters. https://bitcoinwisdom.com/bitcoin/calculator |
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It seems some people can't really catch how it works.
The difficulty adjustment is a mechanism to KEEP BITCOIN MINING STABLE IN TIME.
That's the principle but it's not working out like that. The halving date has moved up compared to what the sites predicted a few months ago. I guess there are limits to the efficiency of the mechanism. It's not true what I have written in my previous post: if you would throw in the network an incredibly huge amount of computing power tomorrow, you could actually mine all the BTC remaining to be mined in the next two weeks. This means that if the computing power that is being put in the network increases much, the halving date will actually draw closer by some measure. But at the same time, you can't put so much computational power to close it THAT much, because every two weeks the adjustment of difficulty will cut your legs making things fair again. |
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With all this extra hashing grunt arriving might be we even get halved in June? The date is slowly creeping closer.
It seems some people can't really catch how it works. The difficulty adjustment is a mechanism to KEEP BITCOIN MINING STABLE ALONG TIME. This means that even if tomorrow you throw in 5 billion trillion gazillion petahash computational power in the network, the next difficulty adjustment will annihilate your effort to mine soooooo fast by increasing the due amount. Any expert correct me if I am wrong please. |
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from where you get that from my post? i've used an online calculator, and any calculator right now is telling me that 1 s7 = $200 per month, and it was higher before much higher i know there is the diff but you need to begin from when the s7 was launched, with double the earning
That 200$ per month is... for how many months? For what I see, it's only for the first few months. You have your ROI, but then, difficulty (usually) increases and increases, and after very few months your income becomes nearly nothing. You can't really say "200$ per month" in Bitcoin mining, because that changes FAST because of difficulty adjustments. |
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i can argue they ar enot even selling 50%, since they don't need that much to cover their bills
Are you sure about this? If you buy some hardware today, you spend money and that hardware is obsolete in less than one year. Then there's electricity. I'm not so sure they are earning so much. yeah i'm sure they are earning like 4 times what they are consuming, so at best 25% goes in the bill, and that only with the recent diff increase, 1 month ago was six times, and before that was even higher 8 times or more Strange, because ANY calculator I used showed me that after having spent money for hardware and electricity, after the first 3-4 months I pay back the costs, and what remains from that moment on is not much really, and after 6-7 months you better turn off your old hardware because difficulty has grown so much that it becomes counter-economic. many of them already roi'ed on their hw since they have mining on the s7 from many months already so it's all profit for them minus consumption, you can do the math easily, at 0.05 cent they are consuming $45 a month and earn almost 200 a month from a single s7, this is x4+ higher with a 4:1 ratior, they certainly don't need to dump 50% of their coins unless they want to for other reason like manipulating the market to buy more coins... You are essentially saying that online calculators are wrong, right? |
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i can argue they ar enot even selling 50%, since they don't need that much to cover their bills
Are you sure about this? If you buy some hardware today, you spend money and that hardware is obsolete in less than one year. Then there's electricity. I'm not so sure they are earning so much. yeah i'm sure they are earning like 4 times what they are consuming, so at best 25% goes in the bill, and that only with the recent diff increase, 1 month ago was six times, and before that was even higher 8 times or more Strange, because ANY calculator I used showed me that after having spent money for hardware and electricity, after the first 3-4 months I pay back the costs, and what remains from that moment on is not much really, and after 6-7 months you better turn off your old hardware because difficulty has grown so much that it becomes counter-economic. |
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Most mining farms are located in China. China are known to have good climate, low labor cost and low electrical cost. With these factors, their profitability is already quite high. Since big ASIC makers like Bitmain being based in China, they can potentially factor out the high shipping cost with discounts given at high ASIC buying volumes. Most farms have hardware that have already ROIed so they're making pure profits now.
Have you ever looked into mining yourself? |
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i can argue they ar enot even selling 50%, since they don't need that much to cover their bills
Are you sure about this? If you buy some hardware today, you spend money and that hardware is obsolete in less than one year. Then there's electricity. I'm not so sure they are earning so much. Mining farms are mostly cashing out a very small portion of their mined coins. And most of the money from cashed out coins will be used to buy even better hardware. They constantly keep increasing their hardware to not fall behind since the competition between the Chinese mining farms is very high level. At this point the majority of their coins gets saved offline for when the price climbs up. They don't dump a lot at once as they can easily push back the price to sub $100 levels without much effort. I repeat: are you sure about this? If you go to a calculator you can see that after buying new hardware and with electricity cost the reward ENDS after few months. This means you have to buy new hardware. I am sure they are making some money, but I'm not so sure they are making millions. If it's so, then why I can't make the same by buying hardware? Calculators say income will end after 3-6 months, depending on difficulty increase. |
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i can argue they ar enot even selling 50%, since they don't need that much to cover their bills
Are you sure about this? If you buy some hardware today, you spend money and that hardware is obsolete in less than one year. Then there's electricity. I'm not so sure they are earning so much. |
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That will be amazing to see how price will get bigger  much bigger with this one event.... and in next 4 years another halving  GoGo Bitcoin!! This year' halving effect will be much bigger than next one as the existing bitcoin number will be much bigger proportionally. I would say the opposite: there's ALREADY many BTC in circulation, AND we seem to have hit a wall into the mainstream that takes a bit of time to go down. So the question is: will people want to pay more for one BTC? My answer is no. If they would, they did already. Halving of the reward doesn't say anything to the upcoming mainstream user, and they will only pay what they think it's worth it. My forecast is that when the halve will come, miners will raise the price to stay afloat. BUT then people won't pay that much more. Now, the only problem here is if miners are already earning much more than a Bitcoin is worth. If they do, then no problem. If they don't, then some inevitably will close the shop. And then, we will have a drop in value instead than an increase, because when the community will see that people are NOT eager to pay much more than the actual price, there will be a fall of reputation. Many mining companies will close because of this and there will be a mini-collapse of Bitcoin this year because of this. THEN in the future the value will rise again, but I wouldn't expect it anytime this year. This will allow for a REDISTRIBUTION of Bitcoin nodes. Part of Bitcoin philosophy. I HOPE I am wrong, but this is my feeling at the moment. |
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Reality is BTC failed a minor stress test, it cannot handle millions or billions of transactions a day, period.
Reality is BTC will not dominate any part of the global economy.
Reality is BTC has never and will never be accepted by mainstream people who are clueless about crypto.
Reality a tiny percentage of people will own some btc and most of the world will never own a satoshi or a bitcoin.
Reality is people already fall into two categories, a tiny minority own some btc be it full btc or fractions ie. satoshi, and the huge majority of people that will NEVER own any bitcoin period.
https://www.youtube.com/watch?v=pWdd6_ZxX8c |
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"using blockchain technology" does not mean they will use bitcoin. Its possible to make a transaction that is storing any infromation instead of specific bitcoin money moving information though.
Exactly: they are NOT using the Bitcoin blockchain. So, there must be a reason. On their site, they say they can "time stamps to the nearest second". They could be using their own blockchain to do that, but don't need to. They only need to send 1 transaction to the bitcoin blockchain containing a hash of their timestamp/file for every authentication they wish to make. I read that users can "see the Blockchain Key independently from our site at Blocktrail.com", so the verification is actually on the bitcoin blockchain. It make sense because it is the most secure blockchain available. So why should I be using their service and pay also??? |
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This is true, but I think most people who believe in the potential that bitcoin has will eventually, one way or another get to that 1 bitcoin or more someday.
I also think it's true that some people don't have the option to buy 1 bitcoin right away as they start but the true people who are into it will find a way to get there.
This is Cognitive Dissonance, dude, you are refusing reality. If you are here, much probably you think Bitcoin will take over most FIAT currencies on the planet. This means Bitcoin will reach an enormous value. But there will only be at max 21 MILLION BTC in circulation. This means that NO MORE THAN 21 MILLION PEOPLE CAN OWN AT LEAST 1 BTC. This also means that because we are nearly 7 BILLIONS, only SOME of these people will have at least 1 BTC. ALL THE REST WILL ONLY OWN SOME SATOSHI.
I'm not even counting another matter: some people have millions of BTC. I don't know the exact number, but in example alleged Satoshi Nakamoto - Craig Wright owns 1.1 MILLIONS BTC. But there are other whales around. Just deal with it. |
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They don't need to publish all the hashes to the blockchain. They can keep them on their systems and push a merkle root from time to time. Whenever someone needs to prove his claim, he shows the document hash and the service gives the fragment that leads to the root. Technically, there are no limits imposed by Bitcoin.
I don't think this system would be very practical or acceptable. |
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We will see maybe that people who always do Faucets, maybe they will make there satoshi to 1 bitcoin one day. When that happens that 1 bitcoin can be 10K dollar so there time was worth it.  Man, faucets will pee less and less Satoshi while BTC value will be increasing. That's because Bitcoin is NOT the referral value, $ (or €) is the referral value. You don't obtain Satoshis now based on BTC, but based on $ that advertising pays to the people that build the faucets. When BTC value will increase, those $ will be less and less, and consequently the Satoshis given by the faucets will be less and less. There's no way to turn around this: if you believe in Bitcoin, you also believe that one day the value of 1 BTC will be enormous. That's why i say, with other words: OWN 1 BTC TODAY, BECAUSE TOMORROW YOU WILL PROBABLY NOT ABLE TO GET IT. |
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Well, some people have to start somewhere, not everyone is able to buy 1 bitcoin right of the bat.
So they start of slow and try to increase the amount that they own, starting with the amount of satoshi.
Sure, but despite this, in the future there will be people that will only own some Satoshi, and most of people owning more than 1 BTC now (or in the upcoming year) are the ones that will also have in the future. Later on, price of 1 BTC will be prohibitive for a huge amount of people to buy, no matter if in 1 shot or 10 years. |
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-snip-
But you could upload only an hash that marks a document: the document could be offline, and you could still match that hash with the document. If the document changes, the hash would prove it's not the same document. This would be a lot cheaper.
or you could use twitter for that, sign it with a PGP key, etc., which would be free. Its certainly possible if that is your question. But Twitter can close your account, the blockchain can't be closed. |
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i think mod will hard to decide for this post,on this board or off topic. and about your clasification,it was so true..and i'm the number two,the man who only have some sathosi  But you are still on time to buy at least 1 BTC, dude... cost is not prohibitive yet. Enter the BTC world, exit the Satoshi world WHILE YOU CAN! |
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