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1321
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Bitcoin / Bitcoin Discussion / Re: Which Bitcoin Client do you use and why ?
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on: November 11, 2015, 03:02:23 PM
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I am using mycelium by the way most of the bitcoiners are using mycelium wallet or blockchain wallet ..but I will always suggest to use a paper wallet so there will be always a backup of your funds
I am not sure about that. Most of the bitcoiners are using Bitcoin Core, Electrum, and Multibit. Most of the Android users are using mycelium. Most of the users that are using blockchain.info are newbies. Since more experienced bitcoiners would never trust their money to the online education wallet, even though it was never hacked. blockchain.info was hacked for many times. Make a search and you will find that .  |
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1322
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Bitcoin / Bitcoin Discussion / Re: Illegal bitcoin exchange Coin.mx busted in NYC
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on: November 11, 2015, 02:48:11 PM
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The question now is.. Did they have a BitLicense?  Of course not because they are not based in NY. Florida does require a Money Transmitter license for any Bitcoin exchange. A such license is very expensive(over 500K) and I don't think it's worth it based on the BTC tradings that a company can get these days. Don't be fooled by the bots you see in actions on any exchanger platform.I am talking about real transactions. It's hard to maintain a licensed company. You need staff (employees) and the salaries are not low in USA. Example: you need a compliance officer. A salary for a such position is around of 3000-4000 usd/month without taxes which are not small at all. You need a collaboration with lawyer. This should be around of 1000-3000 per month(depends on lawyer). you need yearly audit. the cost is around of 10,000 USD or more(depends on how many transactions you have), advertising, common bills (electricity, phones, internet, rent), taxes. For a small company, a such license is useless.The costs per month can easily reach at 20,000 usd or more. So, first you need to make 20,000 usd and then to think about a net profit for "yourself"(owner). Very hard to make these money. Do not look at Coinbase and others like them. They were/are financed by shareholders with millions of USD; otherwise they would be bankrupted. |
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1323
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Bitcoin / Bitcoin Discussion / Re: China BTC Exchanges now accepting direct bank deposits! HUGE
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on: November 11, 2015, 02:35:04 PM
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China banned any financial institution(banks and so on) to deal with companies who are dealing with Bitcoin.
Yet you are able to deposit funds from a bank account directly to BTCC now (has been the case since at least mid October and you can use any of several of the major banks). There has been no official announcement from the PBOC about this so I guess they are watching and waiting to decide whether or not to make such an announcement (makes it very easy for them to stop it again any time they wish to for now). In regards to the tx volume any exchange can fake it regardless of fees (if they are paying the fees to themselves) so actually I think it is more honest to have no fees and simply let people analyse the trades (which is what BTCC does). Hi CIYAM, What banks are they using for direct deposits? |
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1325
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Bitcoin / Bitcoin Discussion / Re: China BTC Exchanges now accepting direct bank deposits! HUGE
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on: November 11, 2015, 02:26:01 PM
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Any comments from inside China on this? Is the PBC going to crack down?
That is a good question. I do not see the news reported in media, just from this forum. Very strange. If true, it is very big news. No, it's not a news. BTCC do not have too many real clients(don't believe their trading platform because they have many bots who are trading with fake transactions) lately and they launched this news(propaganda). China banned any financial institution(banks and so on) to deal with companies who are dealing with Bitcoin. |
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1327
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Bitcoin / Bitcoin Discussion / Re: Bitcoin XT - Officially #REKT (also goes for BIP101 fraud)
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on: November 11, 2015, 02:28:09 AM
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blockchain.info was hacked for several times bitpay = almost bankrupt coinbase = financed by same shareholders as Bitstamp, BTC China, Bitfinex, etc....so they don't cover the expenses. they are financed;nothing more. if coinbase would be left without capital injections, they won't be able to cover the expenses from what they "produce" |
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1330
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Bitcoin / Bitcoin Discussion / Re: Why Gavin is so desperate about his fork? Is he hiding something?
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on: November 10, 2015, 02:15:54 AM
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...
To follow your analogy consider that miners are dealing with 640KB RAM boxes while typical nodes still uses 80 bytes punched cards.
That was the situation in 1950 when the Diner's Club Credit card first came out. For that reason it could only be used a very small very wealthy portion of the population. The critical mistake that Diner's club made is that for the most part they stayed with their 1950s business model so by 2013 they accounted for a mere 0.2% of the credit card market share. http://www.nilsonreport.com/publication_special_feature_article.php. The bank networks VISA and Mastercard started in the late 1960s and early 1970s and saw the mass market potential of credit cards with the advent of the mainframe computer. In the 1990s we saw even wider use of digital payments with debit cards then networks such as PayPal etc. These were each only made possible by further advances in technology. Yet is all of these cases the concept comes back to the original Diner's Club credit card of 1950. The problem with the small block fans is that they want to bake 5 year old technology into the Bitcoin protocol forever effectively turning Bitcoin into the Diner's Club of crypto-currency. There are alt-coins already that have adaptive blocksize limits for those that care to look in the alt-coin section. These coins have this problem solved. The issue in my mind is not whether individuals will be using crypto currency to pay for coffee and store the corresponding blockchain in its entirety on their devices or computers. They will. Technology will see to that. The real issue here is will be they use Bitcoin or some other crypto currency to do so. In short who will be the Diner's Club of crypto-currency and who will be the VISA of crypto-currency. Edit: When one is old enough to have transferred data from punched cards to 5.25 in floppies, I have. One understands that technology simply does not stand still. Diner's Club was/is a PRIVATE company. Is Bitcoin a private company? Well, it will be if it will fork to XT. Then, the shareholders who backup the big exchangers will own the entire Bitcoin XT system. |
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1331
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Bitcoin / Mining speculation / Re: State of mining
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on: November 10, 2015, 01:59:50 AM
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You will need some serious investment that too with free electricity to gain something very high in % on your investments with mining, as next year halving will be taking place, and so rewards will halve though, so making BTC will be much harder than it currently is...
It totally depends mostly upon what price Bitcoin will possess during halving and ahead months...
It does not necessarly take free electricity. But it does take fairly priced electricity. With 230 priced btc many of us were doing ok at mining as long as we use current gear. Jump up to 380ish.... and were doing a whole lot better. Granted it always could change that is the nature of BTC. But I do not see free as necessary, just a really big bonus. But that said by you, don't you need your complete BTC on hands to be sold at, while it jumps to 380 or above??? That's where the problem is, you have them invested in mining and you need to be lucky enough to get a genesis block which currently gives a BTC25 reward, which will be halved next year, and so I guess the mining operation earnings in BTC will also see a significant effect of the same... right. the chinese miners will shut down their operations.there is no reason to "mine" if you get small rewards(money). |
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1332
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Bitcoin / Bitcoin Discussion / Re: Coinbase CEO Brian Armstrong calls the industry to fork Bitcoin Core
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on: November 09, 2015, 01:25:05 PM
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is now war but i think this business operators did not understand that bitcoin and the people that using don't need anymore the old financial system. We want to change it or to completely destroy it and create something new.
Instead in their opinion bitcoin must change to be a small part of this old system. this is wrong.
Exactly. If you want to understand the behavior of Andresen, Hearn, and Ver* you should continue reading here: http://www.minddisorders.com/Kau-Nu/Narcissistic-personality-disorder.htmlThe outlook that their condition will improve is not too bright: Prognosis
The prognosis for younger persons with narcissistic disorders is hopeful to the extent that the disturbances reflect a simple lack of life experience. The outlook for long-standing NPD, however, is largely negative. Some narcissists are able, particularly as they approach their midlife years, to accept their own limitations and those of others, to resolve their problems with envy, and to accept their own mortality. Most patients with NPD, on the other hand, become increasingly depressed as they grow older within a youth-oriented culture and lose their looks and overall vitality. The retirement years are especially painful for patients with NPD because they must yield their positions in the working world to the next generation. In addition, they do not have the network of intimate family ties and friendships that sustain most older people.
(*) Now also known as Vearndresencoiners. ya.ya.yo! great point! Indeed, the are sick. -He or she has a grandiose sense of self-importance (exaggerates accomplishments and demands to be considered superior without real evidence of achievement).
-He or she lives in a dream world of exceptional success, power, beauty, genius, or "perfect" love.
- He or she thinks of him- or herself as "special" or privileged, and that he or she can only be understood by other special or high-status people- He or she is exploitative towards others and takes advantage of them. - He or she "has an attitude" or frequently acts in haughty or arrogant ways. Are't these common to those...so called "elite shit" who say that they represent BTC? Remember their interviews, their speeches. They only want to control Bitcoin. Who are they? Look to the big exchangers' shareholders(they are the same; as I stated in a previous post). They are "they" All of them are connected. It's not a theory of conspiration. It's the pure truth with facts. You should be blind or ignorant not seeing that. |
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1333
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Bitcoin / Bitcoin Discussion / Re: Coinbase CEO Brian Armstrong calls the industry to fork Bitcoin Core
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on: November 09, 2015, 01:04:00 AM
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It seems to me that there is a new round of Bitcoin XT debate coming to us as the end of the year is nearing. I am sure that propaganda will do its job!
Brian Armstrong (aka Coinbase) and 99% BTC media belongs to some morons called "the shit elite"(Coinbase, Bitstamp, BTC china, OKcoin, Ripple, Bitfinex = all these have the same shareholders). So, the propaganda is about to begin. |
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1334
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Bitcoin / Mining speculation / Re: State of mining
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on: November 08, 2015, 01:50:04 PM
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You cannot cover the expenses if you do that alone. You will not cover the mining equip. and the electricity bill. Only the chinesses can do that because they can make tricks to get the electricity for free or near to that |
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1336
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Bitcoin / Bitcoin Discussion / Re: Coinbase CEO Brian Armstrong calls the industry to fork Bitcoin Core
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on: November 08, 2015, 12:18:12 AM
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I have write this before i will write it again. It seems that the business ecosystem around bitcoin are desperate to take control of the source code of it with their own developers etc. This is a fight for the soul of bitcoin. And it is clear who is with them like Roger Ver, Mike Hearn, Gavin Andressen and many more.
You are right but almost nobody listen. I said the same since 2 years ago. A bunch of people are controlling the ecosystem. The big exchangers like Coinbase, Bitstamp, OKcoin, Bitfinex, BTC China HAVE THE SAME SHAREHOLDERS(behind the scene) ! Also, these shareholders are controlling the BTC media like Coindesk and SatoshiDICE.I think most of the people are blind or they dont' care. BTC is becoming a centralized system. |
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1337
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Bitcoin / Bitcoin Discussion / Re: What's stopping people from using bitcoin?
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on: November 07, 2015, 02:13:08 PM
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The Scams, so many scams happening in this world of Bitcoin.
Cloud mining scams, trading scams, and any other scams.
That's why people stop to use Bitcoin, because they got scammed.
Very good point. Indeed, Bitcoin is based on scams and black market; without them, BTC value would be near zero. |
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1340
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Bitcoin / Bitcoin Discussion / Re: The future of bitcoin
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on: November 06, 2015, 01:36:03 AM
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What future can have something based on HYIPs(ponzi schemes), back market and speculation? This is the real BTC.
Without these 3 "factors", BTC value will be near zero.
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