Dont trust anyone who claims to know the exact date the market will crash.
Except the person who has done it so many times. Again it is never "the market will crash on this date". It is always an "if this, then that". All i now is that his 2015.75 prediction got blown out of the water. Zerohedge has been 'predicting' the great crash ever since 2009. LOL <=== (in a good sense) Zero Hedge (or rather their columnists) rarely get(s) it right. I have hardly ever seen a Big Prediction (from anyone) come true when the predictor gives a specific time frame (or even conditionally). Predicting the future is very hard. I contend that NO ONE can do it with any decent percentage above random... But, I am open-minded to Armstrong, as he has been building the BIGGEST database of indicators and looks at cyclicality. His take is unique, and he DOES have paying subscribers. |
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The purpose of mining is to create a permanent decentralized exchange, which thus results in a permissionless system.
And even better than Bitcoin will be the coin where those newly mined coins are mined by the millions and billions of users, not by few 100s of professional miners (which is where Bitcoin is rapidly centralizing to). The only way to achieve this is to make mining unprofitable. I've explained this design, yet so many people remain skeptical. I'll finish the 'plaining in a white paper after it is too late to copy the design. Absent an automatic means in the economy where money naturally moves from the power law distribution wealthy back to the masses, then Socialism erects to do the job, which is then captured by the same power law which ends up in periodic 600 year Dark Ages. It is time for something better. Even better than Bitcoin. At least we have a somewhat decentralized Bitcoin in the meantime. I have work to do.Then get your a$$ back to work!   I can write that because I'm older than you are, smile. But, really, do what you have to do... |
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I'm thinking of changing the poll now that we've got a big enough sample on this one to draw some conclusions.
It's actually really eye-opening, even though this poll is self-selecting for bitcoin afficianados being on this forum I would not have expected >95% are not selling until we are above $1000 !! That's pretty insane, (but I can agree with that sentiment). And I think the 2 votes for "Next $20 rise" are just trolls so that was my trap question to weed them out ... so in reality we have 1 person out of 53 that will sell for less than $1000.
And more amazingly, we have greater than 50% who are hodling for > $10,000 coin.
Well, to be honest, I have used some BTC to buy gold before, that is why I submitted my post above re my change of HODLing plan. I may buy some Au at $500 (per BTC), then maybe some more at $650, etc. That would require me to keep BYUing BTC on the way up, but so what. My wish is to balance my holdings between gold and BTC, obviously more US$ value of gold. EDIT: My vote was >$1000, as I plan to use some BTC in my gold acquisition program. |
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I've changed my plan recently re BTC HODLings. If we get price spikes upward, I will sell some of my BTC for gold, piecemeal all the way up (whatever prices "up" reaches). But, I plan to maintain a decent speculative HODLing of BTC as a "lotto ticket".
My *guess* (worthless) is that BTC may get higher than it ATH this year or next, I do not see it reaching for the moon (Alice).
If I am wrong, however, well I'll be happy that I own at least some.
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... ZIRP and NIRP are poisoning the wells of savers, among many other negative effects. ZH declined to publish my piece, so here it is (link because it is four pages long, too long to be here here) for anyone interested. It's very hard to make an income..., almost by design? "ZIRP and NIRP Pervert the Financial System" goo.gl/wXF8k3 |
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Two hours seems like a long time (vs. bitmixer.io, which takes less than 30 minutes (total time, inc. confirmation) normally). Eight hours would seem to indicate a real problem...
2% seems like a high fee (bitmixer.io charges a variable approx. 0.6% to 1.2% depending on what customer chooses).
* * *
I did not see if there is a clearnet service vs. a TOR service. Does Fogify offer both?
I look forward very much to reviews or comments on Fogify's mixing service.
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... I saw Armstrong's interesting post re "climate change", much of which I already knew (volcanoes), but some I did not (the peat fires on the Indonesian islands cranking out more CO2 than the USA). Thanks. Also over at Armstrong are two other items worth noting. The Hard Right in Austria just had a big victory. I have commented various times at Zero Hedge re the Euro .govs failing at rapefugee enforcement, that the Hard Right will do something about the invasions. Coming to Germany and Sweden soon? https://www.armstrongeconomics.com/world-news/freedom-party-wins-first-round-in-austrias-presidential-elections/Armstrong also addresses a wrinkle re pensions that I have not seen before. We have all long known that pensions (esp. IRAs and 401ks) are the last BIG pot of money that is easy for .govs to seize. Armstrong addresses another possibility, off-loading infrastructure (etc.) onto the private sector because of expensive capital needs (that they can't fund). Hmm. "Asset Recycling" https://www.armstrongeconomics.com/world-news/taxes/asset-recycling-robbing-pensions-to-cover-govt-costs/ |
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trollerc Two interesting links as usual, thanks. The USA should butt-out of the UK's affairs re Brexit. It's not our business. Obama just sticking it is again. The UK is almost getting scary! Cameras, and now they want to ban encryption and submit products before launching? F**k 'em. |
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My plan? Pretty much as it has always been:
"HODL and gold"
Both are likely to do well in likely upcoming economic turbulence.
Note that I am NOT recommending holding BTC and gold ONLY. A well diversified set of assets is almost always safer, and yet can provide above average returns (above average because the "average investor" does rather poorly).
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It is very ungrateful to forecast massive rises with any precision in timing.
That said, I think that we are in a significant or massive turning point, in a much greater probability than the average statistical. Welcome back, Risto, I have missed seeing your comments. I hope all has been well for you; our friend TPTB is still cranking out posts non-stop. Your timing in returning is good, maybe something interesting is about to happen... |
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Well, yes. That seems to be the primary niche for opendime hardware.
But, think about it. It costs some US$11 (so not that much) each for a device which you can give away in payment, sort of like a gold coin. Load that sucker up one time with, say, BTC3.00. Then give it away as payment for Gold Eagle (assuming your counterparty is OK with BTC). They can "cash it in" (break open the device to get the Private Key), or just pass it along again...
It seems like a wonderful solution for some users. That's why I am hoping that someone will come by and tell us how it works and if they are happy with it.
Note that when you give it away, that "transaction" does not show up on the blockchain, only breaking open the device and extracting the BTC "within" would.
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That was interesting, thanks for posting the link. If I interpret the information there correctly, BTC0.0001 is a pretty reasonable transaction fee. That is very low (less than US$0.05). Considering that various other fees (BTC ATM fees, localbitcoin sellers charging high premiums, etc.), that is almost NOTHING! To make it more likely that a miner will take my BTC transaction (if important) more quickly, I send along BTC0.0003 if it is a simple transaction. |
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... I saw a couple of references here and at one of the Bitcoin magazines to opendime, a Canadian outfit making a cheap, one-use-only hardware wallet. It looks pretty interesting to me, but the website does not make it crystal clear how to take your BTC out. https://opendime.com/They have sold their first batch, it looks like more are on sale for delivery soon (June/July). It looks like they accept Bitcoin as payment now. Has anyone tested the product? |
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For online shop yes, and it does exist, but for real or offline store i doubt that we could see in the near future due to the confirmation time of bitcoin need to be improve, i usually buying some virtual things on internet but sometimes i have to be waiting to get 1 confirmation time untill my items was processing
Yes confirmation time will be great hurdle in spending bitcoin offline.Imagine waiting to leave a coffee shop after payment but you cant unless the shop owner see 1 confirmation would be a great embarrassment and waste of time as well I'm not sure that's true (confirmation time being a great hurdle to BTC acceptance). I have seen and heard of cases (coffee purchases for example) where the recipient doesn't even bother waiting on a confirmation for small purchases. Within the past year, for example, I do not have to sign (sometimes) for small credit card purchases. I think the same principal applies here, for small purchases the risk is low of fraud, and the results not too painful for the merchant. |
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bolivarcoin
Venezuela is a country with many economic problems (despite having the Number One oil reserves in the world -- though much of that is heavy oil difficult to produce).
If the Mainstream Media (such media never lies here in the USA... /sarc) is lying about Bitcoin use in Venezuela, perhaps you would report on how popular (or not) it is?
I ask because Peru is a free country (everyone can use US$ there, the grocery stores in Lima accept US$). So, there is little demand there, BTC is almost unknown.
Not like the situation in Argentina, where I hear that Bitcoin is getting very popular.
* * *
Indeed, your knowledge about conditions in Venezuela would be of interest to one of the Bitcoin magazines, reach out, my guess is you could get an interview describing what's happening in Venezuela easily.
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In my city, the few BTMs have a fee ranging from 9% to 14%-plus. The fees were lower until recently. It may be that when you add up all the costs (the machine itself, managing it (putting BTC in, taking cash out, electricity, rent, etc.), a very low fee would not sustain such a business.
To my knowledge the machine I have used DOES NOT show the fee either.
20% is very high. Even the normal 14% I see drove me to using Circle when I want to buy.
Thanks for confirming another machine DOES NOT show the fee. I keep meaning to try a BTM, and this thread has given the good advice to do a small test transaction first so you don't get scammed by unstated high fees. Do you have to wait for a long time for your transaction to go through? If you do it could put people off doing a test transaction. You raise a good point about doing a small test transaction to see how it goes. I have used two BTC machines, both worked about the same (they scanned QR code off mobile device to send the BTC). Transactions went just like any other BTC transaction, confirmation in (very) roughly 10 minutes or so. Even if the BTMs charge a high amount, a small transaction would not be painful. Also, if the BTM is your only handy alternative, then you may not have a choice, until recently the BTMs were my "best" option for a year or two. |
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RealBitcoin
I don't know how this little piece of information from my own BTC experience would be worth anything in your study , but I have used perhaps 100 different addresses since I started using BTC. For a few reasons (some of which I do not understand), I have not gotten very small amounts of BTC from them, especially my mobile device wallet (blockchain.info on iPhone).
As a guess, I would have some BTC0.0001 on about 15% of my total wallets, so that would be maybe BTC0.0015, or $6.50 or so.
If my experience is typical (and my calculations roughly correct) that might be a start, but I am less skilled in BTC and (of course) not a programmer (etc.).
HTH
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CoinCube is going to get me stop working on coding, hehe. I love those discussions with him and hope I can engage him again not too long from now on the many new theories he has been writing about. I don't retract those iamback quotes. As usual, I have a more complex viewpoint which really requires me to take significant time to articulate, as I had one in those essays of mine that CoinCube had cited in the OP of the Economic Devastation. I haven't had time to write like that recently and I don't anticipate having that time over next months because I am so busy on trying to get JAMBOX rolling. For now, I can only make a very superficial reply, which is to remind CoinCube of his post wherein he astutely pointed out that the new world order had to increase the entropy of mankind, not decrease it. The iamback quotes are referring to the death of the nation-state socialism models we have now. I would not waste my time fighting for Texas because my opportunity cost is too high. But for many Texans, that is all they have to fight for. They don't have my software engineering talent nor my mobility. So many more things I would like to say, but I don't have time to wrap my mind around fully and articulate. My brain is too deep in programming language theory, which is about as far up the computer science ladder you can get. P.S. I think I will soon be announcing that I am cured from my 4 year chronic illness! Seriously! Having very, very excellent health signs. It seems the sublingual oregano oil was the cure. Am back to eating what ever I like again. Not getting sick from eating any foods as I had been for the past year (and to some extent I was always getting bad symptoms after eating for past 4 years). We are all happy to hear that you are back to good health, TPTB. Now don't go and ruin it by exercising too hard right away. Take it easy (although I suppose your brain would still appreciate its normal high-level functioning). |
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Bitcoin is used each and every country and the users will continue to use it even if the governments of the respective countries do not support it.
Nope. Not in Peru. Peru has a fairly free economy, but the infrastructure is not so good (although in Lima and elsewhere there is usually broadband available). The problem in Peru is that no one (a few exceptions) is interested, and there is no demand like is seen in Argentina and Venezuela (with controlled economies). In Peru, everyone is free to use US$, even the big grocery stores in Lima will take dollars. We go to Peru once or twice per year. I would love to see BTC become more accepted there. It would make it easier to buy things quietly down there. |
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Well I too have had occasional problems getting a timely confirmation, even when paying BTC0.0003. I pay that when I really want a transaction to get confirmed ASAP. But, sometimes it just takes longer, it's the nature of the system. And I usually pay the BTC0.0003 when it's an IMPORTANT transaction.
One above poster mentioned that if speed is really important, then pay by credit card (or whatever). I agree. When dealing with Bitcoin, it is best to arrange to have extra time ("slack") as it's a probability thing, no guarantees...
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