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well, generally no, but who defines low?
For all we know we could be at the highest point Bitcoin will ever see again in its lifetime...
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Satoshi's stash = controlled by the US gov.
Proof? Where is the proof? govt ownes what account ? what proof There is no proof Satoshi's stash = controlled by the US gov. It is interesting speculation. Hes probably basing this off a situation where the US happens to be satoshi nakamoto =P |
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Dont understand why you guys are focused on the mining sector so much. Mining always follows Bitcoins "popularity" or current price.
Speculators on price hardly care about the mining sector. They only care as long as Bitcoin works the way its supposed to.
Also, as much as I hate the thought of Bitcoin mining becoming centralized ... the fact remains, the rules of the network cant be changed as long as noone controls more than 50% of the hashrate.
Those miners are still bound by the laws of the protocol. Not the other way around.
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Also, yes keep in mind when we say 'potential to become a currency' ... we mean in the eyes of the critical mass and how the value it as a currency or not.
Inherently & technologically it already functions as a far superior currency to anything we have today.
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Its actually both. Kinda like gold/silver.
Yes, right now its being seen primarily as a speculative investment, but the infrastructure is being built in order to sustain it as a currency.
What it comes down to in reality is if critical mass embrace it as a currency ... this is the hardest thing to pull off and its still very much in its infancy from that perspective.
It functions as a currency regardless, but in order to maintain value, majority people have to want to use it.
Only then will it begin to transform monetary systems on a global scale.
Bitcoins purpose is to truely revolutionize money for the first time in human history.
Yep. Humans have never ever revolutionized money before. Hell, I still barter with clamshells. ok, for the first time in a few centuries... |
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Its actually both. Kinda like gold/silver.
Yes, right now its being seen primarily as a speculative investment, but the infrastructure is being built in order to sustain it as a currency.
What it comes down to in reality is if critical mass embrace it as a currency ... this is the hardest thing to pull off and its still very much in its infancy from that perspective.
It functions as a currency regardless, but in order to maintain value, majority people have to want to use it.
Only then will it begin to transform monetary systems on a global scale.
Bitcoins purpose is to truely revolutionize money for the first time in human history.
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What version of windows? If its Vista+ then getting it back is easy peasy.... enter VSS ( a godsend for situations like this)
Right click on the folder where wallet.dat should be, select 'restore previous versions' ... if VSS is set up properly on ur system you will see several folders listed w/ date stamps .. if so, just a folder that has a timestamp before your wallet.dat went missing, and copy wallet.dat out of it and into the spot where its missing.
Problem solved.
You do realize that you are telling a newbie how to recover wallet.dat from a PC that we have no idea if it belongs to him/her right? So, have several others.... If its not theirs then, the original person should have had the wallet.dat encrypted =P |
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What version of windows? If its Vista+ then getting it back is easy peasy.... enter VSS ( a godsend for situations like this)
Right click on the folder where wallet.dat should be, select 'restore previous versions' ... if VSS is set up properly on ur system you will see several folders listed w/ date stamps .. if so, just open a folder that has a timestamp before your wallet.dat went missing, and copy wallet.dat out of it and into the spot where its missing.
Problem solved.
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hope you sold a lot of that position or you're gonna be "burdened" again soon enough I sold nothing, why would I want worthless fiat clown-currency when I can have real money? You fail to understand what's happening here. This is a paradigm shift in the way we think about and use money. Technology only marches in one direction my friend, and that's forward. That said, I completely divested from my nation's pretend-money early enough in the crypto game that I could sell a tiny fraction of my BTC wealth and completely recover, even now. Would still be true at 200. If you're wondering, it's because I am in possession of a far more powerful engine for probability than you are (my brain). That or its all gonna pass like a fad kinda like myspace.... |
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last I checked ... anyone could 'go' for a cryptocurrency =P
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He will be hurtin once btc hits 2$ again.... soon enough.
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I bought a replacement fan for my 5970 back in 2012 w/ bitcoin =P
Since then Ive bought a gas blow back MP7 airsoft gun w/ accessories
Some other things, most recently a tiny amount of gold & silver ..
And of course all my mining hardware over the years bought w/ btc
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meanwhile, I did the opposite mod and am pushing near 220GH out of some of my ants ... =) hope they dont die! ... been a week or so ... still goin strong.
thats very good - i did not expect them to be capable of much more than 205GH even with pencil mod. did you have to add a second fan or shrouding at all? Yeah, I just vmodded one of my '14 units to around 1.15-1.16v per 'module' Its doing 431mhz @ .55% HW @ 219.5GH for the last 4hrs ... =) (previously the same unit has been at 425mhz @ .18% HW @ 216GH for a few days...) I may try it on my other 2 '14 units tonight. My '13 units dont vmod as well =/ NOTE: no, didnt modify cooling and this particular ant is running at an avg of 44C |
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meanwhile, I did the opposite mod and am pushing near 220GH out of some of my ants ... =) hope they dont die! ... been a week or so ... still goin strong.
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Yeahp and I think the HUGE thing that people struggle with is the word "Decentralized" ... they dont get how much of an impact that word when it has in relation to current monetary systems.
I dont think they can fathom it. I knew for the first 2 weeks I was introduced to Bitcoin, I was CONFUSED as fuck and Im a nerd/geek for my career & passion for the last 20yrs of my life!
If it was that hard for me, tryin to get an avg person to wrap their heads around it... I can see how they are confused as hell and the media just jumps on that confusion and drives fear into them =( .. scaring them away from potentially the greatest invention in the 21st century ... it saddens me really =(
Maybe its you who don't understand "decentralized". Before Centrals Banks all currency were decentralized meaning it was backed by the individual issuer (private banks). What you don't understand is that bitcoin isn't even money. Money is an IOU thats backed by the issuer. For example in the olden days: Someone holding your gold deposit will give you gold note in return. You go spend that note and the person holding the note has claim that amount in gold from issuer. Fiat is money that is not backed by hard asset so it has no intrinsic value. By definition bitcoin is fiat. However, fiat is backed by gov't. The gov't creates fiat on debt. Then they make you pay taxes so they can pay down that debt in future. Because we are legally required to pay taxes the demand on dollar is guaranteed. This assures its stability not some "trust" system. Fiat currencies valuation are derived from things like GDP and also supply/ demand of money. What I noticed is that bitbugs get smarmy about their knowledge of bitcoin. But most don't understand undergrad economics. The irritable misconception of bitcoin come from the bitcoin community itself not from outside. Most bit bugs are towing the line without critical thought whatsoever Um ok dude.... go look up the meaning of "money" and get back to me. |
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But it's not just that it's rising quickly - it's also that it doesn't have intrinsic value, like tulips. A share of a company that rises quickly in value has intrinsic value in that it means you own a portion of the company. Bitcoin's value comes only from the trust that we share - the trust that if someone gives you bitcoins for a real product, you can spend them elsewhere to get other real products.
I disagree w/ that ... Bitcoins value goes far beyond that. It functions in ways that money / currency never has for humanity. This aspect alone makes it extremely valueable. Its utility value as money. Your form of value placed in Bitcoin sounds more like why people trust in government backed fiat currencies. |
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I have to reply to this thread....
So, when I talk to many people about Bitcoin or if they ask me a question...
Most people are very confused about what Bitcoin is(duh) but those confused people I talk to, think its a "company" and there is a "ceo" ... or "Bitcoin is in risk of going bankrupt" .. Or "going out of business"
Every fucking intelligent person(obviously idiots too) cant wrap their mind around the simple fact that its NOT A COMPANY nor is it controlled by a COMPANY.
I simply respond to them.... "Thats like calling gold a company..."
Id have to say, recently the above is the most irritating misconception I run into.
I had a conversation this past Thanksgiving with an in-law who is a current macro econ professor at a well-reputed university here in the US and he kept talking about "yeah, but when the person who controls bitcoin does ..." There's a looong way to go before most people think of bitcoin or other digital currencies beyond what they see/hear in the media, if even that much. Yeahp and I think the HUGE thing that people struggle with is the word "Decentralized" ... they dont get how much of an impact that word when it has in relation to current monetary systems. I dont think they can fathom it. I knew for the first 2 weeks I was introduced to Bitcoin, I was CONFUSED as fuck and Im a nerd/geek for my career & passion for the last 20yrs of my life! If it was that hard for me, tryin to get an avg person to wrap their heads around it... I can see how they are confused as hell and the media just jumps on that confusion and drives fear into them =( .. scaring them away from potentially the greatest invention in the 21st century ... it saddens me really =( |
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Im 100% for Mike Maloney backing Bitcoin....
It wasnt till recently a few months ago I watched his 5 episodes on youtube about hidden secrets of money and I was , quite frankly blown away by them.
He seems to not be the "all in your face" type salesman thats out there to cram shit down ur throat...
It seems he actually gives a damn and has a genuine passion for opening peoples eyes to the truth.
He obviously stands behind gold / silver as real money .. if he added Bitcoin to that list.... that would get heads turning ... in fucking droves.
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I have to reply to this thread....
So, when I talk to many people about Bitcoin or if they ask me a question...
Most people are very confused about what Bitcoin is(duh) but those confused people I talk to, think its a "company" and there is a "ceo" ... or "Bitcoin is in risk of going bankrupt" .. Or "going out of business"
Every fucking intelligent person(obviously idiots too) cant wrap their mind around the simple fact that its NOT A COMPANY nor is it controlled by a COMPANY.
I simply respond to them.... "Thats like calling gold a company..."
Id have to say, recently the above is the most irritating misconception I run into.
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So, I wanted to post an update to the situation Ive been in for the last 2-3 weeks w/ BITMAIN
Ive ordered several antminers from them over the past couple months ... all tx very smooth, arrived as expected and very fast.
My most recent TX didnt go so well, for some reason when blockchain was having its issues, I double paid on an order for ants. The order went expired shortly after and didnt even show any amount as paid on their site. Luckily the latter was fixed that day, my order was processed and shipped out.
But, they still had my overpayment of BTC...
I sent them an email, very responsive at first, they asked if I would like it in coupon form or refunded, I made it extremely clear I needed it refunded to the same payment address. They told me they would hand it off to their accountant and get it processed as a refund.
A week goes by, I hear nothing, I send another email .. they say its still w/ their accountant waiting to be processed.
Another week goes by, I hear nothing, I grow alarmingly concerned ... They say its still being processed by the accountant (this is Bitcoin how long could it take to hit the fucking SEND button on a BTC client?!)
Now we are in the middle of the 3rd week.
I sent an email, they told me they would get it processed this week.
I wake up today, check my BITMAIN account and there is a coupon for the amount they owed me!
WTF!?!?!?! BITMAIN ... this is NOT what I asked for!
So, just a WARNING to you folks: make sure you dont fuck up ur payment to them, otherwise getting a refund, seems to be impossible.
Now Im forced to buy more miners, which I DONT HAVE the means to run!!
I am sorely disappointed by this experience w/ them.
Ive sent another email, asking if there is anything the can do to refund and remove the coupon - I doubt there is ... but they fucked up.
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