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1  Other / Politics & Society / Re: USA attack to RUSSIA soon. on: September 22, 2015, 07:04:21 PM
Sanction and economic attacked already started a year ago.
2  Economy / Economics / Re: let's develop cryptocurrency economic theory on: May 03, 2015, 01:38:13 PM
Nothing new under the Sun. Only the medium is different, concept is still the same.
3  Bitcoin / Bitcoin Discussion / Re: Bitcoin ransomware covered by CCTV on: May 03, 2015, 01:36:52 PM
Many of the ransomware cases were done with insider help. Profit is shared half half with the Russian coder.
4  Economy / Speculation / Re: I'm All In - Sold My House! on: November 24, 2014, 06:09:58 PM
Think owning house is more prudent at this stage.
5  Economy / Speculation / Re: Rise incoming November of 2014 on: November 24, 2014, 06:07:46 PM
November is coming to an end

Still 5 more days. Let's give bull the benefit of the doubt.
6  Economy / Speculation / Re: What's up with the "Do Not Buy Bitcoin" ads? on: November 06, 2014, 02:15:38 PM
Who is funding those ad?
7  Economy / Economics / Re: Exchange And Arbitrage Advice on: November 06, 2014, 02:13:33 PM
It can't be done in current environment.

It used to be profitable because no one was doing it. Not anymore.
8  Economy / Economics / Re: Bitcoin or Gold? What would you pick? on: October 24, 2014, 07:26:40 AM
In an ideal investment portfolio it is necessary a percentage of 60% of gold and 40% of other type of investment (or bitcoin  Smiley).

If everybody thought that way, gold would go through the roof.  Grin
On a serious note, what people think of as "ideal portfolio" includes stocks, bonds, real estate and a small amount in alternate investments (commodities, crypto-currencies, etc)

There seem to be a deflationary collapse in process. Holding cash, however illogical it seems today, may be the wisest course of action.
9  Economy / Speculation / Re: The negative effect of mining farms on: October 24, 2014, 07:23:57 AM
Just finished reading this article: http://mobile.bloomberg.com/news/2014-10-21/bitcoin-miner-ditches-clients-to-chase-2-billion-coding-prize.html

Basically the co-founder of KnC, Sam Cole talks about small-time mining operations becoming obsolete as their profit margins shrink and they get replaced by mega-mining farms. He continues to talk about the $2 billion in btc that will be mined in the next few years and expresses his company's intention to milk as much cash from this cow as possible.

What is interesting to note here is that this guy is measuring the profits in $$$, which is indicative that his company doesn't care for btc and are in it for the potential fiat profits. He doesn't say that there's x amount of BTC up for grabs because he and his investors are only interested in the cash/fiat that can be made from mining BTC. Another thing to note is that he mentions their cost per unit is significantly below $400.

So basically these scumbags have a lot of hashing power, fiat, and probably BTC to manipulate the market.

This is speculative.

He doesn't say there is X amount of BTC up for grab because the interviewer and his audience is not familiar with this unit of account.

In reality, it is more probable that they hold a considerable amount of BTC. I have mentioned this in another thread but Bitcoin miners are some of the most bullish entities in the Bitcoin ecosystem.

BitFury has confirmed that they hold most of their coins. DigitalBTC in a recent investors letter have confirmed they are not selling production from their mining farms "at these low prices".



They will eventually sell due to shareholders pressure. If the price is dropping when these mega farms are holding, what is going to happen when sentiment really turn negative and all mining companies decided to cut loss?


As for the 2B figure coming from Sam of Knc, he is probably using an optimized bitcoin price estimation. If he really build a farm so big that will threaten integrity of the network, what is going to happen to the price? Not to mention the constant selling from his company will further depress the price.

10  Economy / Speculation / Re: US exchanges coming online on: October 19, 2014, 10:07:30 AM
The fact that these threads and topics are not gaining enough attention is enough to tell you people are little concern for legitimacy in crypto.

Professionals are coming.

Professionals aren't really paying attention to crypto because they know anyone who touch it will get instant scrutiny from government.
11  Other / Politics & Society / Re: Bitcoin fund for Ebola victims and their families. Start it? on: October 19, 2014, 10:04:27 AM
no thanks, there are more than enough africans on this earth as it is.

Gene which promote high growth rate for the population was desirable at one point in human evolution stage.

This is no longer the case. Hence natural selection will slowly remove the undesirable population into extinction.
12  Other / Politics & Society / Re: 17 standard portions of the democracy on: October 10, 2014, 08:03:02 AM
Another cop shooting happen again so soon?

People just don't give a shit, they think they're invincible and nothing will happen to them, It's like they don't think this kind of crap can start a civil war.

Could be in a bad neighborhood with high cop mortality rate.
13  Bitcoin / Bitcoin Discussion / Re: What is the whole point of making a high quality cryptocurrency? on: October 10, 2014, 08:00:02 AM
Having one cryptocurency barely make it to mainstream. All the altcoins out there doing pump and dump scheme do not help the cause.
14  Economy / Economics / Re: Why we love the rich and hate the poor on: October 10, 2014, 07:57:29 AM
not happening in my country, most of the poor work from day to night while the rich " Gov. officials" rely on the peoples money to build their own private island, hotels, resort, and etc. the poor gets poorer while the rich gets richer

That only happen because the population let them get away with it. Can always vote the incumbent out if the population is not happy.
15  Economy / Economics / Re: How much did your salary increase over the past 5 years? on: October 07, 2014, 12:56:46 PM
Minimum wage is still minimum wage.
16  Bitcoin / Bitcoin Discussion / Re: How Low Does Bitcoin's Price Need Get to Make People Stop Believing? on: October 07, 2014, 12:55:27 PM
I am guessing people will get upset and bail if bitcoin drop to below 100 again.
17  Other / Politics & Society / Re: JP Morgan hacked on: October 05, 2014, 12:52:22 PM
There are system in place even if the customers data is fully leaked out.

Your identity is pretty much now tie to your home address and phone number. Unless someone get a hold of these two, no serious damage can be done using your name.
18  Economy / Service Discussion / Re: Are you a fan of coinbase? why or why not? on: October 02, 2014, 09:23:46 AM
I'm not a fan of one exchange dominating a market. Too dangerous.

So having more competition from Circle Financial is a good thing for bitcoin.
19  Other / Off-topic / Re: Need your valuable advice on: October 02, 2014, 09:22:43 AM
There are sites that offer free training, then you just pay to write your exam. Try www.w3schools.com they have some quality information on programming.

Alternatively you could teach yourself photoshop using youtube tutorials if you are committed enough to actually do it. Try specialize in something with regards to photoshop, like maybe removing blemishes from selfies, or removing backgrounds from pictures. That will be a whole lot easier than trying to learn everything about photoshop.

Remember, nothing comes easy in life and if you aren't willing to put in the hours, you cant expect to reap the rewards.

Good luck  Smiley

Just about anyone that can read can do script coding. That kind of tell you how low the barrier for entrance is and how competitive it will be to get someone to pay for your work.
20  Other / Off-topic / Re: Do you like kids? on: September 17, 2014, 09:59:44 AM
Other than the bad smell from kids, they are alright.
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