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41  Bitcoin / Bitcoin Discussion / Re: Patience above all will be rewarded here on: August 28, 2020, 10:53:38 PM
The business of trading generally involves patience. Whether you exist in the space as a full time trader or as an investor, one geñeral thing to understand is that 'Rome was not built in a day". Everything has to gradually play out in order to get the beat out of it as time is also part of the recipe. Follow every business with patience and earn the dividends.
42  Alternate cryptocurrencies / Altcoin Discussion / Re: CAN WE STILL GET THE 2017 BULL IN THIS 2020? on: August 28, 2020, 10:48:25 PM
You never can tell, fingers are still crossed and hopes are still high and expectations as well. You can't tell what is really going to play out this season knowing that bitcoin has not tested $13,000 but people earnestly wish to see the 2017/2018 bull season repetition.
43  Alternate cryptocurrencies / Altcoin Discussion / Re: What is your Biggest Crypto Regret? on: August 28, 2020, 10:42:22 PM
One of my biggest crypto regrets is that I invested in a project without researching on the project. Then I was still a ñewbie on the block, not knowing my left from my right, I blindly bout a coin in an exchange that is now shut down, the coin was values at 8 satoshi and I watched the coin go from 8 satoshi to 1 satoshi losing more than 80 percent of my investment and then the coin finally delisted. So bad an experience.
44  Alternate cryptocurrencies / Altcoin Discussion / Re: Don't invest for quick gains only on: August 28, 2020, 10:35:52 PM
Quick gains schemes and projects have seen loads of investors hit rock bottom in terms of their finances being lost. It pays to grow. There is nobility in growth. Grow your resources rather than rush into quick gain schemes and come back with regrets.
45  Bitcoin / Bitcoin Discussion / Re: UK hospital launches rehab programme for bitcoin addiction on: August 26, 2020, 05:01:08 PM
The idea of launching a rehabilitation program for bitcoin addiction is simply absurd. Why will someone who is a fanatic about a particular technology or someone who takes pleasure in trading or studying things relate to the latest technological innovations that disrupts loads of professional sphere be seen as an one that needs a mental rehab. I don't just buy it.
46  Bitcoin / Bitcoin Discussion / Re: IMF educates about cryptocurrency (pros and cons) on: August 26, 2020, 04:45:52 PM
The involvment of IMF in sensitizing people about the pros and cons of cryptocurrency is a step further towards the global acceptance and adoption of the technology. It has become an undoubtable fact that  crypto currency cannot be hidden and it therefore remains a force to recon with in the financial space.
47  Bitcoin / Bitcoin Discussion / Re: Bitcoin Whale Sold at $12,000 After 2 Years HODLing on: August 26, 2020, 04:39:59 PM
A Bitcoin whale, who accumulated 9,000 BTC in late 2018, has sold after 22 months and two capitulation phases.

A Bitcoin (BTC) whale — an individual investor who holds a large amount of BTC — took profit after two years. Data from Whalemap suggests the whale purchased nearly 9,000 BTC in the third quarter of 2018.

The whale held on to the BTC for nearly 22 months, through two major capitulation phases. Bitcoin dropped to sub-$4,000 level twice, first in January 2019 and second in March 2020. The investor waited through both periods, ultimately selling at around $12,000.

https://cointelegraph.com/news/this-bitcoin-whale-sold-at-12-000-btc-price-after-hodling-for-2-years



Who said that bitcoin is no longer profitable?  Smiley


I guess he must have bought that Bitcoin at the time when bitcoin was booming owing to its new awareness and without limitations in different nations and then came the plunge in 2018 when things went bearish and has not been on the All Time High levels. He must have bought somewhere around the price he sold it. The investment in bitcoin needs patience.
48  Alternate cryptocurrencies / Altcoin Discussion / Re: Crypto passive income - a bubble? on: August 25, 2020, 09:34:00 PM
Crypto passive income has gone beyond been called just passive income. People has sacked their bosses and are living more than an average lifestyle because of crypto as a passive in come.
49  Bitcoin / Bitcoin Discussion / Re: Personal Opinion: Only a matter of time until Bitcoin will surprise us again on: August 22, 2020, 10:08:40 PM
The involvement of bitcoin in the financial sector is a mark that the financila industry will never recover from. I wish them well and pray for better days but the US will never surpress the bitcoin network but will also subscribe.
50  Bitcoin / Bitcoin Discussion / Re: Crypto cards on: August 22, 2020, 10:05:50 PM
Apart from crypto cards been the easy way of executing transactions, I see the enablement of crypto cards in the society as a means to further increase the massive adoption globally. Crypto can be used easily by people who don't get to withdraw the currency and convert to fiat before spending, the only challenge is the volatility of the market.
51  Bitcoin / Bitcoin Discussion / Re: Bitcoin and crypto currencies are getting dangerous on: August 22, 2020, 10:00:50 PM
The need for KYC is to better filter the inorganic members in projects and also be accountable for the investors investing or using a particular channel that concerns finance and other financial driven transactions,this goes to reduce the danger in the space.
52  Bitcoin / Bitcoin Discussion / Re: Will the need to increase BTC's max supply arise in the future? on: August 21, 2020, 05:05:55 PM
No matter the need that arises in the future, the need to increase Bitcoin total supply is not possible as it has been enshrined in the white paper. The total circulation remains constant and that is the more reason why the scarcity will further increase the price and also increase the demand for it.
53  Bitcoin / Bitcoin Discussion / Re: Satoshi Nakamoto: "Bitcoin can scale larger than the Visa Network" on: August 21, 2020, 05:03:52 PM
Can someone explain to me why there is any debate when Nakamoto himself said:

---------------------
Quote from Mike Hearn:

https://bitcointalk.org/index.php?topic=149668.msg1596879#msg1596879
https://duckduckgo.com/?q=%22Bitcoin+can+already+scale+much+larger+than+that+with+existing+hardware+for+a+fraction+of+the+cost.%22

  • Satoshi did plan for Bitcoin to compete with PayPal/Visa in traffic volumes.
  • The block size limit was a quick safety hack that was always meant to be removed.
  • In fact, in the very first email he sent me back in April 2009, he said this:

--------------------------------------------------
Email from Satoshi Nakamoto to Mike Hearn:

"Hi Mike,
I'm glad to answer any questions you have. If I get time, I ought to write a FAQ to supplement the paper.
There is only one global chain.

The existing Visa credit card network processes about 15 million Internet purchases per day worldwide. Bitcoin can already scale much larger than that with existing hardware for a fraction of the cost. It never really hits a scale ceiling. If you're interested, I can go over the ways it would cope with extreme size.  By Moore's Law, we can expect hardware speed to be 10 times faster in 5 years and 100 times faster in 10. Even if Bitcoin grows at crazy adoption rates, I think computer speeds will stay ahead of the number of transactions.

I don't anticipate that fees will be needed anytime soon, but if it becomes too burdensome to run a node, it is possible to run a node that only processes transactions that include a transaction fee. The owner of the node would decide the minimum fee they'll accept. Right now, such a node would get nothing, because nobody includes a fee, but if enough nodes did that, then users would get faster acceptance if they include a fee, or slower if they don't. The fee the market would settle on should be minimal. If a node requires a higher fee, that node would be passing up all transactions with lower fees.
It could do more volume and probably make more money by processing as many paying transactions as it can. The transition is not controlled by some human in charge of the system though, just individuals reacting on their own to market forces.

Eventually, most nodes may be run by specialists with multiple GPU cards. For now, it's nice that anyone with a PC can play without worrying about what video card they have, and hopefully it'll stay that way for a while. More computers are shipping with fairly decent GPUs these days, so maybe later we'll transition to that."


~ Satoshi Nakamoto
---------------------------------------
Quote:

"Satoshi said back in 2010 that he intended larger block sizes to be phased in with some simple if (height > flag_day) type logic, theymos has linked to the thread before. I think he would be really amazed at how much debate this thing has become. He never attributed much weight to it, it just didn't seem important to him. And yes, obviously, given the massive forum dramas that have resulted it'd have been nice if he had made the size limit floating from the start like he did with difficulty. However, he didn't and now we have to manage the transition."

~ Mike Hearn, on bitcointalk.org, March 07, 2013, 06:15:30 PM

https://bitcointalk.org/index.php?topic=1347.msg15366#msg15366
bit.ly/1YqiV41

----------------------------------------
Quote from Satoshi:

It can be phased in, like:

if (blocknumber > 115000)
    maxblocksize = largerlimit

It can start being in versions way ahead, so by the time it reaches that block number and goes into effect, the older versions that don't have it are already obsolete.  When we're near the cutoff block number, I can put an alert to old versions to make sure they know they have to upgrade.


~ Satoshi Nakamoto, on bitcointalk.org, October 04, 2010, 07:48:40 PM

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So now,

If Satoshi himself "never really gave block size limit much weight"  (he assumed scaling was an obvious need that would happen quickly and easily), why are a group of developers refusing to scale the protocol... while simultaneously creating a tool that will generate massive income by moving transactions off the block chain, and into their exclusive transaction processing system (Lightening Network)?  Is it any wonder they were given nearly $50 million in VC funding when VC's realized they just took over Bitcoin transaction processing?

Is this not blatantly changing the design and purpose Satoshi gave to Bitcoin (to freely scale to massive sizes, to support on-chain transaction needs).  This seems to be of grave concern, no?

-B-


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The blockchain network is much more robust than the Visa Network. I see the Blockchain or Bitcoin newtork is the way forward as people are more confident in the transaction that concerns bitcoin rather than Visa and I see  the bitcoin network having more reviews and upgrades to help the network scale further even in the future.
54  Bitcoin / Bitcoin Discussion / Re: Bitcoin in a good shape? on: August 21, 2020, 04:57:06 PM
Guys I haven't been here for a while and I'm wondering if Bitcoin is in a better shape than last time I checked 2 years ago.

Thanks

Bitcoin is always in a better shape to trade or invest in. Whenever you meet bitcoin is the ideal time to buy into it. Investors know that to get into an investment as Bitcoin, no matter the time you meet it. it is never late. So, If one is waiting for a better deal on the of time before investing in bitcoin. it is now.
55  Bitcoin / Bitcoin Discussion / Re: How to Buy Bitcoin Cheaper on: August 20, 2020, 02:00:35 PM
All traders want to always buy Bitcoin at a price cheaper than the market price. Apart from buying and selling on the ordinary, centralized crypto asset exchange, there is another option, namely a peer-to-peer exchange. In this exchange, asset prices are not “regulated” by the exchange manager, but directly by the users. In principle, a peer-to-peer (P2P) exchange is a crypto asset exchange that is similar to an online shop, aka a marketplace. The role of the stock exchange manager is only to bring together the seller and buyer of assets directly on one platform. In other words, for example, if you want to sell Bitcoin, you have a trading booth on that platform. It is also possible to place ads on that platform by specifying the selling price of the asset. The advantage of an exchange like this is that the seller is free to determine the selling price as he wishes and the buyer can freely look for price variations on the exchange. Buyers can even get a much cheaper price than buying on a regular exchange.


The peer-to-peer system is most reliable if not for the cases of scam recorded. In that form of trade, the traders get to negotiate price but then it is the very easy way to negotiate without the need for a middle man to oversee or regulate. Prices are set by the seller to suit his demand at that point in time.
56  Bitcoin / Bitcoin Discussion / Re: A Restaurant convert entire savings to Bitcoin on: August 20, 2020, 01:53:30 PM
According to the tweet https://twitter.com/TheRealTahinis/status/1295770434349281281. Tahinis, A Canada-based Middle Eastern restaurant has converted all their entire savings to bitcoin.

The decision to turn the cash holdings to cryptocurrencies emerged in the March crash and as the Canadian government started to offer aid services to companies struggling to stay open owing to the pandemic.

With the U.S. and Canada printing money to support their crippled economies, Tahini's owner Omar Hamam began to see the financial system as "a play of tic tac toe being played right now, and music will halt and some people would be left out."

Hamam said he was worried that handouts and money printing would devalue the economy of the fiat. "It was clear to us that cash did not have the same appeal," he added. "In the end, with all the extra currency floating in the market, the capital will be worthless."

He decided to convert the business's savings to Bitcoin as it "gives a much viable choice to saving cash." He said they would proceed to use Bitcoin as a reserve asset — "perhaps permanently if we don't need fiat."

Smart move. The conversion of their fiat currency into bitcoin is the most bussiness driven decision they have made. They only insured the future of their business as there is no certainty on t he resultant effect of the money printing of the government. At leas they know the exact number of bitcoin they have in ther wallet irrespective of the volatility.
57  Bitcoin / Bitcoin Discussion / Re: If you could hard fork Bitcoin right now, what changes would you make? on: August 20, 2020, 01:39:55 PM
If you had consensus to make whatever changes you saw fit in Bitcoin right now with a hard fork and the community was 100% behind you, what changes would you make? What improvements do you think Bitcoin needs through a hard fork?

Would you update scaling, security, consensus protocol, programmability/smart contracts, other stuff? Give details.

I think the major challenge rocking the space now is the challenges with scalability in Bitcoin. If i had the priviledge of hard forking bitcoin i wil change the transactions per second of bitcoin as it is the major concern for users transacting via the bitcoin framework.
58  Bitcoin / Bitcoin Discussion / Re: Bitcoin maximalists are doing more harm to the crypto space than good ? on: August 20, 2020, 11:13:26 AM
The chalenge with bitcoin maximalist is that they do not see beyond bitcoin, they believe every other coin is worthless or a shitcoin. The truth of the matter is that bitcoin has almost the transaction per second rating in the etire blockchain framework and that is a major challenge but beyond this bitcoin is most secure. Maximalists don't actually believe it is true and they end up focusing on other features and it does not please those who see beyond analysis.
59  Bitcoin / Bitcoin Discussion / Re: Taxes on Bitcoins: Unreasonable or essential? on: August 19, 2020, 04:56:22 PM
I see no essentiality in the  Taxing on Bitcoin as assets as it  has nothing to do with the government and the financial institutions. It was designed to be independent of government agencies and also the technology does not require approval or any function of govenrment in order to process it. Why then should therer be a tax on it.?
60  Economy / Speculation / Re: Bitcoin might never reach it's ATH anymore on: August 19, 2020, 04:51:17 PM
Bitcoin has seen its resistance around the 11,000 dollar mark and jsut recently broken the resistance and tested a yearly all time high of 12000 and even exceeded it. I can not for sure say it willl hit its all time high because speculations by whales did not afect the price of the mrket no matter hard they tried but lets just keep fingers crossed. hope for the better.
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