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1341  Bitcoin / Bitcoin Discussion / Re: China BTC Exchanges now accepting direct bank deposits! HUGE/ scam on: November 04, 2015, 11:15:16 AM
BTCC is making a big mistake. The China gov has banned all the financial institutions to work with Bitcoin.
The banking institutions and employees are banned from engaging in bitcoin business through banking, as well as servicing or doing business with the bitcoin industry. This ban is since 2014 and it's nothing changed since then.

So, how BTCC is doing that? Of course, by doing it illegally. It is a desperate gesture because they did not have clients lately.

http://tech.sina.com.cn/it/2013-12-17/01139011174.shtml#483253-tsina-1-18627-1cf60a7c37a7bc296a2ba7aba0120190

One single complaint to their banks and BTCC's accounts are closed. The people should be very stupid to deposit their funds with a such exchanger.
1342  Bitcoin / Bitcoin Discussion / Re: To The Moon on: November 04, 2015, 11:03:52 AM
We have "to the moon" title periodically.

We do not want the price to the moon instantly. The price should rise depending on the adoption of bitcoin and related technology. Bitcoin should not be a tool for speculation only.

it is ONLY speculation. in 2-3 weeks the price will fall near 200 usd or below.
1343  Bitcoin / Bitcoin Discussion / Re: How many people REALLY use bitcoin on: November 01, 2015, 11:13:26 AM
up to 1 mil.
1344  Bitcoin / Bitcoin Discussion / Re: Microsoft is not accepting bitcoin anymore ? on: October 29, 2015, 01:45:38 PM
Bitcoin and its tech are 2 different things. No corporation needs BTC. Maybe they need parts of BTC tech and nothing more.

The mobile payments are the future. BTC is a niche e-currency. I don't understand why you are dreaming to non senses Smiley

Debit cards/credit cards along with the mobile payments are the future. Period.
Why would I use BTC when I have USD/EURO, etc? I can use my debit card with ZERO fees for any online/offline purchase and more than that, the transactions are instant.

Also, I can use hundreds of payment processors like Paypal if I really want an intermediary and to pay fees. Again, the transactions are instant.

Bitcoin is not free and it's slow like a snail.

Why would I switch to Bitcoin? For what? Give me a reasonable reason for doing that Smiley

Yes, BTC can be used for speculative trading, buying weed and staff but that's all.
1345  Bitcoin / Bitcoin Discussion / Re: How do you feel about the negative reputation of the bitcoin currency? on: October 27, 2015, 10:10:39 PM
But i think that bitcoin got negative reputation by the hackers that steal bitcoins.
And/or do suspicions activity by dealing through bitcoin.


Obviously the same happens with regular curency as well, but people are not objective enought to admit it. Stollen and emptied paypal or bank accounts / credit cards becomes normal, and crime/corruption uses cash or bank transfers as well. I cant understand rational reasons why Bitcoin should be any different, after all - the same people use Bitcoin as well.

I saw a documentary about one council that was so corrupt people had to use chests of fiat cash to pay it planning permission bribes, suitcases weren't big enough to hold all the money. Do people stop using dirty fiat money because it's used like that? All money, Bitcoin, fiat, gold, is capable of being dirty if it's used like that.


then, why would I use BTC over debit cards which are electronic money too? Smiley

I have ZERO fees for any purchases online and offline and instant transactions. Why Bitcoin? I just want to hear one real reason for someone using Bitcoin and not debit cards Smiley

Pls. skip the "privacy" speach and all the libertarian shit  There is no privacy. BTC is controlled by GOvs through licensed exchangers who are using banks and so on....
Licensed = rules, laws so the opposite of the libertarian shit
1346  Bitcoin / Bitcoin Discussion / Re: China (Unofficially) Authorizes Bitcoin! on: October 26, 2015, 12:04:49 AM
I am surprised we haven't discussed this! Have I missed this discussion maybe or we have all just missed this huge news in my opinion? This also explains current rise!

Share your thoughts please!

http://cointelegraph.com/news/115435/china-unofficially-authorizes-bitcoin-price-turns-bullish

I thought the rise was due to the european decision to not tax it.

Maybe they both add up to each other.

Good days for bitcoin.

Not to mention Gemini... there are a lot of positive and "bullish" news coming out of the wood work as of right now, and people are acting on it to get coins for cheap before they go above $300-$400... after that, who knows what the price will do.

it's just a bubble. nothing serious sustain the raise from now. it will go down fast after some "smart" guys will cash it out Smiley

1347  Bitcoin / Bitcoin Discussion / Re: Who really uses bitcoin? on: October 25, 2015, 11:58:06 PM
Who really uses bitcoin- Ordinay folk like me, use btc to pay bills, buy prepaid cellphone loads, ordering stuff online, online gambling and change to fiat when in need.

Who is the typical bitcoin user- One who has knowledge about crypto, how it works and benefit the system.

Why does it matter- For bitcoin to grow, it needs mainstream adoption.

BTC won't be adopted; it's fishy, not regulated, slow and so on.

The people likes regulations, safety, etc. BTC will remain for speculative trading, dark markets.
It has no advantage over any traditional payment systems like debit/credit cards/bank wires and payment processors like Paypal.

It's just "trendy" for now. Nothing more.

The trend is for regulation(see the exchangers who are looking for licenses which means AML, KYC and GOVs rules in the end) and this will be the end of Bitcoin. Why? Because the dark market( over 85% from BTC) will leave this e-currency when it will be "regulated".

yeah no advantages, like low fee, privacy, not-hackable while you spent a transaction, sure...

with fiat if you leave your credid card credentials on some website they can still all your funds, with bitcoin it's impossible

well, I may agree with you IF:

- the debit/credit cards have ZERO fees for purchasing online and offline.
- i would not read news regarding to hacking of the Bitcoin wallets  all the time..
- i have to remember you the BTC wallets hacking is not a news anymore on the Bitcoin's market. It's a habit. everyday, a lot of wallets are hacked.

so, tell me one advantage of using Bitcoin against traditional payment systems. do not tell me about privacy because it does not exist anymore. all the exchangers requires papers.
1348  Bitcoin / Bitcoin Discussion / Re: Who really uses bitcoin? on: October 24, 2015, 03:59:42 PM
Who really uses bitcoin- Ordinay folk like me, use btc to pay bills, buy prepaid cellphone loads, ordering stuff online, online gambling and change to fiat when in need.

Who is the typical bitcoin user- One who has knowledge about crypto, how it works and benefit the system.

Why does it matter- For bitcoin to grow, it needs mainstream adoption.

BTC won't be adopted; it's fishy, not regulated, slow and so on.

The people likes regulations, safety, etc. BTC will remain for speculative trading, dark markets.
It has no advantage over any traditional payment systems like debit/credit cards/bank wires and payment processors like Paypal.

It's just "trendy" for now. Nothing more.

The trend is for regulation(see the exchangers who are looking for licenses which means AML, KYC and GOVs rules in the end) and this will be the end of Bitcoin. Why? Because the dark market( over 85% from BTC) will leave this e-currency when it will be "regulated".
1349  Bitcoin / Bitcoin Discussion / Re: Who really uses bitcoin? on: October 24, 2015, 03:01:59 AM
Unlike fiat money, bitcoin seldom needs to be used, it is a value certificate similar to your bank long term saving account, you might only touch it several years later. Or, you can use it to do international trade with much faster payment time (given that you and your business partner in another country have already established a stable business relationship), but the required skill set is too high for average Joe

there are plenty of payment processors, credit cards and so on. why would you need Bitcoin to make a payment?
as you said, Bitcoin is not for the average "Joe" so it is a niche market and it will remain like this. Smiley
1350  Bitcoin / Bitcoin Discussion / Re: Who really uses bitcoin? on: October 21, 2015, 01:21:25 PM
drug dealers mostly.

everyone here seems to forget that lots of shady drug dealers acquired tons of bitcoin way before anybody else thanks to dark markets.
 

right. the black market(including HYIPs, cloud mining, etc) +gambling has over 85% from BTC market. The rest of them are speculative traders and people who earning pennies(they are paid to surf, etc) from their online activities.

Why would you use Bitcoin for online shopping? You already have debit cards/credit cards with zero fees and no risk.
1351  Bitcoin / Bitcoin Discussion / Re: Will the Banking Industry kill Bitcoin and keep the Blockchain? on: October 21, 2015, 01:12:01 PM
Iphone is already using ApplePay. Nobody needs BTC for online shopping.
BTC is just a niche e-currency.

Not everybody owns iPhone.

SamsungPay exists too Smiley

Apple +Samsung = +50% from the smartphone market

Bitcoin wallet Cool
Payment solution from all kinds of smartphone Grin

iOS + Android + Windows Phone + Blackberry = 99.6% (IDC 2015Q2)

Why BTC when there are debit/credit cards linked with the phones with NO fees and instant transactions? What for? Smiley
1352  Bitcoin / Bitcoin Discussion / Re: What if bitcoin is regulated in China? on: October 21, 2015, 12:53:29 PM
Bitcoin exchangers are already banned in China and the banks are not allowed to accept firms that are related with Bitcoin.

So how do the exchanges work in China. There are still trading there.

because what he have said, it's not true, there were some heavy restriction in the past, because the government was thinking that there were a possibili for the cny to suffer a devaluation

but then it was permitted, because presumably, they could earn profit from those eexchange

Please show me the official links where it's saying that the Chinesse banks and exchangers can deal with Bitcoin.

Banking institutions and employees are banned from engaging in bitcoin business through banking, as well as servicing or doing business with the bitcoin industry

So, individuals can trade bitcoin but not the companies.

Yes, there illegal tradings. What's so hard to understand that most of the Chinese exchangers are doing illegal exchanges Smiley
1353  Bitcoin / Bitcoin Discussion / Re: Will the Banking Industry kill Bitcoin and keep the Blockchain? on: October 20, 2015, 06:23:50 PM
Iphone is already using ApplePay. Nobody needs BTC for online shopping.
BTC is just a niche e-currency.

Not everybody owns iPhone.

SamsungPay exists too Smiley

Apple +Samsung = +50% from the smartphone market
1354  Bitcoin / Bitcoin Discussion / Re: Silk Road Founder Ross Ulbricht Sentenced to Life in Prison on: October 20, 2015, 06:21:45 PM
This is what justice is? Ulbricht gets sentenced to life for being innovative and an entrepreneur. He could also have committed some crimes, but those wouldn't be enough to jail him for life. as for Carl Force, he gets to have only 78 months from stealing, extortion, money laundering and obstruction of justice.
Call it Justice call it what you will...

Welcome to this world! Do you look for justice here? Smiley  Get real.

Ulbricht is to serve as example for other people who wants to develop similar businesses.
1355  Bitcoin / Bitcoin Discussion / Re: What if bitcoin is regulated in China? on: October 20, 2015, 06:11:37 PM
Bitcoin exchangers are already banned in China and the banks are not allowed to accept firms that are related with Bitcoin.
1356  Bitcoin / Bitcoin Discussion / Re: How do you feel about the negative reputation of the bitcoin currency? on: October 20, 2015, 06:03:03 PM
The negative reputation of bitcoin is tight to mt.gox and silk road. People  think that bitcoin is mostly used to buy drugs and weapons. But in reality bitcoin is more than a financial tool to obtain drugs.

This is true. But even after Silk Road the use of bitcoin in the Dark Web is enormous. According to CoinDesk "Dark Web Markets Processed More Bitcoin than BitPay in 2014". Following some data from this article:

"... Kyle Soska and Nicolas Christin from Carnegie Mellon University revealed that even by conservative estimates the daily sales volume of six large-scale dark markets reached up to $650,000 in 2014.

The bitcoin merchant processor's self-reported annual total, $158.8m, would produce a daily average of around $435,000."

More can be found here: http://www.coindesk.com/dark-web-markets-processed-more-bitcoin-than-bitpay-in-2014/

So the people have right in thinking that bitcoin is used mainly from the criminals and culprits. The only thing that can fight this is the regulations of bitcoin. In this way, bitcoin will be known by to many other kind of people, will be owned and used by them and will be not more only an illegal currency used by the above firsts people.

As for being more than a financial tool to obtain drugs this is more hard to be understand and explained because even to many of us which have time in learning and using it is hard to find which of its technological qualities can (might) be used or have importance in the real life except being an currency.


Very good point and I share your view. Smiley

Yes, Bitcoin is used mainly from the criminals, culprits and gambling. This is the pure true. That report is very accurate. Who is using BTC for shopping? You have to think logically.Why you would buy something with BTC when you have credit /debit cards and they are INSTANT and NO fees?

BTC is a niche e-currency that it's used by the black markets mostly. Yes, there are is percentage of people who are using with good faith but these do not count.
 


1357  Bitcoin / Bitcoin Discussion / Re: Will the Banking Industry kill Bitcoin and keep the Blockchain? on: October 20, 2015, 01:05:10 AM
I think banks will support BTC by using the BTC blockchain as a form of data-backup to demonstrate to auditors and the government that their own data records have not been hacked and tampered with. They will do this because the low cost and ease of doing so will virtually mandate it. Governments may even require it, both for banks and for their own data.  

Data-record protection by institutions and proof-of-existence documentation by individuals could easily become the dominate use of the BTC blockchain. It is so cheap as to be essentially free. There is not even a need to pay a higher fee for faster confirmations because confirmation time won't matter. The only thing that will matter is the instantaneous publication of the data as an unconfirmed transaction on the blockchain.

As for the use of BTC as currency, speaking as a former Silk Road merchant I for one can't see it except for buying and selling on the dark web. It simply isn't necessary for most commercial transactions. No, I think banks will compete with BTC at point-of-sale by offering merchants and customers proprietary-blockchain speed of confirmation in conjunction with the usual money-back protections against errors and fraud. After all, when BTC is on the rise, who will buy a cup of coffee with it? And if BTC is on the slide, who would accept it without instant conversion to fiat, which banks would have to charge for?

I think that the BTC blockchain will end up prospering under what might be called the non tragedy of the commons. Everyone will dump their data on it, increasing the demand for bitcoins themselves but not the need for faster and faster confirmation times. Eventual confirmation will be sufficient.

Bitcoin as you stated will benefict, this interest of banks at blockhain technology,even they making their own blockhain will bring new costumers that use iphone to acess their accounts will be able one new market and well they will find bitcoin soon and faster.


Iphone is already using ApplePay. Nobody needs BTC for online shopping.
BTC is just a niche e-currency.
1358  Bitcoin / Bitcoin Discussion / Re: Bitcoin XT - Officially #REKT (also goes for BIP101 fraud) on: October 19, 2015, 01:26:06 PM
besides, buying other daily things is economically nonsense because of its volatility.

you dont wanna end up like that dude buynig a pizza with bitcoins 4 years ago!
The only reason to use/sell and not replenish is that you believe the price is going down.

I've bought stuff and immediately replenished, the exchange rate didn't bother me at all. If I went back to the stuff I got pre 2013 for BTC at today's rates I paid fortunes, but that makes no sense so long as you rebuy.

If you pay a sensible fee and the system is sustainable, transacting as much as you want and can afford to is fine. The system is currently unstable in that we have to be praying for people not to overuse it because the incentives are fucked, and that is the problem. The system should be such that nobody can afford to deny service. Blocks have to stay manageable and people need to pay higher fees if they don't want their txs lagging for ages or rejected.
I use Bitcoin frequently as a currency, and I re buy my Bitcoin when I spend them. I think that the incentives of Bitcoin are working fine, we just need to increase the blocksize, which would make it more expensive to attack Bitcoin by overloading it with transactions. Miners can choose not to include low fee transactions anyway if that is what the situation requires. Higher volume with a lower fee would be better then a lower volume with a higher fee.
Question: Why don't you use your credit/debit card instead of BTC. Any online and offline shopping by using credit/debit cards is free of charge. Cheaper than that you cannot find Smiley
For some things Bitcoin is better, and I am ideologically motivated. So i like to use Bitcoin as much as I can because I am aware of its potential to change the world. There are many legitimate uses for transacting in Bitcoin, after all one of the advantages of Bitcoin as a commodity is that we can send it across the world over the internet, unlike gold for example. Transactional capability and use cases are important for Bitcoin as it strengthens its value proposition as a commodity and as a currency.

 Cheesy

Can you give an example? I'm actually curious to know what do you use it for.
Using Bitcoin disempowers the current status quo. Bitcoin enables peaceful revolution through co opting of the currency and blockchain technology. The current banking system through quantitative easing acts like hidden taxation and further enables governments to wage wars and other draconian policies, while also increasing inequality. The use and adoption of cryptocurrencies can circumvent these structures of centralized power. I can explain in much greater depth the political potential that Bitcoin has, however let me just say that the changes that it can bring for our civilization are profound to say the least. It was my interest in political philosophy that drew me to Bitcoin initially once I realized its great potential.

To answer your other question, I personally use it to transfer value between myself and people I know, like family and friends. Recently I had somebody help me with building a website and I sent them Bitcoin for that as well. I am also a miner so I have purchased most of my equipment using Bitcoin. I have bought beers at bitcoin meet ups, and other computer components online. I accept Bitcoin at a brick and mortar store I am involved with now, however admittingly we have not had a lot of customers use Bitcoin at our store.

In the Netherlands where I am living at the moment there is a food delivery network that accepts Bitcoin so when I order take aways I almost always pay with Bitcoin, and I do consider it to be faster and more convenient in this case, the website uses BitPay as its payment processor, I have a big TV screen where I do the order on and then I pay with my smartphone using the Airbits wallet, it works very well. Smiley

https://www.thuisbezorgd.nl/en/

There are other use cases like remittance and black markets for example. The Wikileaks case is also a good example of an important use case, in short Wikileaks got its funding cut by visa, paypal, mastercard ect. Wikileaks started accepting Bitcoin as an alternative way to receive funding, this was in 2011. This is a good example of how Bitcoin enables more financial freedom through its transactional capabilities.

The centralization is about to be done. The exchangers are looking for regulation(licenses). Financial license = centralization, rules, Govs and so on.
BTC is and it will remain a niche market.

Do not forget that the miners, developers and the big exchangers are controlling the market and they work together even now. This is a centralization. Decentralization is an Utopia and everybody knows that.

There is no reason not using credit/debit cards for any online or offline purchases.They are FREE of charge and they are instant. BTC is "good" if you want to play, speculative trading. Nothing more.

1359  Bitcoin / Bitcoin Discussion / Re: Bitcoin XT - Officially #REKT (also goes for BIP101 fraud) on: October 19, 2015, 01:18:47 AM
besides, buying other daily things is economically nonsense because of its volatility.

you dont wanna end up like that dude buynig a pizza with bitcoins 4 years ago!
The only reason to use/sell and not replenish is that you believe the price is going down.

I've bought stuff and immediately replenished, the exchange rate didn't bother me at all. If I went back to the stuff I got pre 2013 for BTC at today's rates I paid fortunes, but that makes no sense so long as you rebuy.

If you pay a sensible fee and the system is sustainable, transacting as much as you want and can afford to is fine. The system is currently unstable in that we have to be praying for people not to overuse it because the incentives are fucked, and that is the problem. The system should be such that nobody can afford to deny service. Blocks have to stay manageable and people need to pay higher fees if they don't want their txs lagging for ages or rejected.
I use Bitcoin frequently as a currency, and I re buy my Bitcoin when I spend them. I think that the incentives of Bitcoin are working fine, we just need to increase the blocksize, which would make it more expensive to attack Bitcoin by overloading it with transactions. Miners can choose not to include low fee transactions anyway if that is what the situation requires. Higher volume with a lower fee would be better then a lower volume with a higher fee.

Question: Why don't you use your credit/debit card instead of BTC. Any online and offline shopping by using credit/debit cards is free of charge. Cheaper than that you cannot find Smiley
1360  Bitcoin / Bitcoin Discussion / Re: Fork: Will this be possible? on: October 19, 2015, 01:15:06 AM
Changing BTC as it is now, it means its dead. Leaving as it is now, it means dead too. I am not sure how BTC can survive in these circumstances.

I see many PRO and AGAINST fork.
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