Yeah well, bitcoin certainly looks like it's in a bubble to me, and not just the price but the behaviours of people that you normally see in a bubble. Like people selling all their kid's belongings, the scammy behavior, and probably a lot more. The question in my mind is, when is it going to crash? Bubbles can go on for quite a while, and very few people ever call the top before the top happens. It's not FUD on my part. I genuinely think we're going to crash hard eventually. I'm not short bitcoin, and I have absolutely nothing to gain if we crash. Some people truly aren't permabulls.
Yeah, I do agree to an extent. When some big guys come and say Bitcoin is bubble and our instant reaction is FUD/market manipulation then we are acknowledging the fact that Bitcoin maket is highly speculative in nature. The guy who sold his home/business for Bitcoin wouldn't have even thought about this possibility about four months ago. Speculating based on fundamental values and taking calculated risks doesn't do much harm to the market, but when it is purely based on price movements, it is chaotic. It wouldn't be wrong to say that Bitcoin is in a positive feedback loop, where short-term gains will generate a lot of speculation, but doesn't have to be destructive. Corrections, rather than a crash, self-regulating. As far as market corrects itself and positive feedback loop doesn't overwhelm negative feedback loop, Bitcoin doesn't necessarily have to be a bubble. Technology, utility, scarcity, adoption, recognition, but still we have a hard time coming up with the fair price of Bitcoin because the maket is highly speculative. Only large-scale adoption would put an end to bubble/FUD/manipulation theory where a market not dependent on speculation, but Bitcoin's utility as money, medium of exchange, where fair value can be justifiably derived on the basis of what exists rather than just assumptions. |
|
|
|
Bitcoin is accepted as a currency on both online and offline/physical stores, but offline transaction is a bit tricky, but not quite impossible. There is OpenDime, Bitcoin credit stick that allows you to spend Bitcoin like a dollar bill. It's a hybrid between hardware wallet and physical Bitcoin, disposable hardware wallet to be used as cash. You can load OpenDimes with various denominations of Bitcoin and spend preloaded OpenDimes offline on Bitcoin accepting physical stores. It isn't cost-effective for small amounts of transactions. https://opendime.com |
|
|
|
Is BTG a scam? Maybe/Possibly. Did people lose money selling btc for btg? Hell no! You only hodl btc to get btg. And if you bought more btc to get more btg and btg value eventually dumped on you, you have not in anyway lost! Your BTC still remains! Not is lost by hodling!
What is this OP on about by the way?
U had to put your BTC in exchange at $6200, and take it out at $5700, that be $500 loss, but BTG is now $120. Lot's of people SOLD their BTC high to get into yobit.net, and then lost their ass getting back out and getting back into BTC, that be a $380 LOSS ( 500-120 ). So the "FREE" BTG gained you $120, but taking your BTC out of cold storage COST U $500 USD. The calculation is a bit weird. People who have coins in cold storage will rarely transfer it to some exchange to get an altcoin, sweeping private keys makes much more sense, but let's assume if it was done then also how did you arrive at $500? 1. I had 1 BTC in cold storage. 2. I transferred 1 BTC to an exchange to get equivalent BTG. 3. I got 1 BTG @ $100, around 0.018 BTC, converted and transferred BTC back to cold storage. Where is the loss? I had 1 BTC, now I have 1.018. I didn't transfer $6100 to the exchange, I transferred 1 BTC.Yeah, if someone bought Bitcoin expecting to get free BTG and make some instant $ then there might be a loss or profit. Bought one BTC @ $6000, price dropped $5700, BTG @ $100, $200 loss in $, but still profitable in terms of BTC. For a Bitcoin holder there is no loss. Get rid of the dollars and use common sense. |
|
|
|
|
Bitcoin isn't a bubble, but currently it is used more as a speculative asset. No denying the fact that scarcity, technology, utility, adoption, recognition are the fundamentals, but the market right now is driven more by speculation and that might be good, might not be. There has to be an equilibrium where transactional, reservation, and speculative demand are somewhat same.
If a good number of people adopt Bitcoin and agree that it's money then it can be self-fulfilling prophecy, but this should be based on real rational expectations, Bitcoin as a store of value, unit of account, and medium of exchange, not merely a speculative vehicle which would end up in a self-fulfilling irrational speculative equilibrium which isn't good.
Bitcoin is dualistic in nature, as a currency and a commodity, it is good and bad, speculators make it a too volatile medium of exchange, but for widespread adoption and putting an end to bubble theory, Bitcoin needs to get adopted as a currency. Merchant adoption is the key.
|
|
|
|
|
The longest it took for a transaction to get confirmed for me was 9 days. I had sent a transaction of 0.01 BTC on February this year with a fee of 0.0002 for a transaction size of 616 bytes, 32.468 sat/B, low fee. It was a time when the network was heavily congested, around 80K+ unconfirmed transactions. The transaction was neither included in a block nor pruned by the network for 9 days, but finally got confirmed.
|
|
|
|
There are more than 500 million users affected by in-browser mining. Most of these websites have a shady rep, torrent or adult sites. CoinHive is a better alternative to irritating ads, but since CoinHive can't forbid webmasters from stealth mining, webmasters should ask users permission to drain their CPU resources. If you have adblocker installed then CoinHive enforces an explicit opt-in, AuthedMine. The AuthedMine miner will not start without an user's consent. Apart from Adblocker, you can use Chrome extensions like No Coin and minerBlock to block in-browser mining. |
|
|
|
Yesterday, BlackRock Strategist Richard Turnill said there’s no inherent right or wrong Bitcoin price, no fair value. On multiple occasions Bitcoin has been criticized for lacking fair value. I haven't come across any stats or traditional methods that can be used to calculate Bitcoin's fair value, but does that mean Bitcoin doesn't have a fair value? I found an article on Investopedia about how to measure Bitcoin's fair market value. I don't think this framework is statistically accurate, but theoretically plausible. Almost all predictions regarding Bitcoin price are speculative in nature, but backed by a solid belief that Bitcoin's scarcity and its underlying technology is potentially revolutionary which would have an impact on different sectors. Bitcoin has value because people think it has value, right. It means Bitcoins have positive expected value. The total market value of a currency, its "monetary base", is driven by two things, transactional demand and reservation demand. 1. Transactional demand - Daily transaction volume. 2. Reservation demand - Hoarding/long-term investment. It is expected that with more merchant adoption the transactional demand would increase. 3. Hurdle rate - Rate of return required to compensate for the risks associated with holding Bitcoin. Yeah, technopolitical hurdles or backlash from a country can have an impact on Bitcoin's expected value. Theoretically, the fair-market value of one BTC should simply be the dividend of its predicted future monetary base (total market cap) and BTC in circulation, discounted by a "hurdle rate." For further illustration, it might also help to consider how a venture capitalist could determine the net present value of an investment that he never expects to generate positive cash flows during his firm's investment period (e.g. a high-growth tech company that reinvests 100% of its earnings before it ultimate sells to Google). In the absence of earnings, that VC might look at revenue multiples to determine the company's terminal value, and then discount that figure by a rate of 40 to 60%.
With Bitcoin, the thinking is the same. Except Bitcoin's terminal value is actually its future monetary base. This framework relies on assumptions only, but backed by Bitcoin having all the attributes of money, its scarcity and underlying technology. A rational market price for something that is expected to increase in value will already reflect the present value of the expected future increases. In your head, you do a probability estimate balancing the odds that it keeps increasing.
http://www.investopedia.com/articles/investing/050914/easy-way-measure-bitcoins-fair-market-value-doityourself-guide.asp? |
|
|
|
Freelance websites were often considered as a means for college graduates to earn some pocket money as they waited for career opportunities. But today, the gig economy is quite big with a good number of people preferring a flexible freelancer routine over traditional income generation opportunities as their main source of income. It is estimated around 34 percent of the US workforce is now freelance based, and this number is expected to grow to 43 percent by 2020. Freelance platforms like Freelancer, Upwork, Fiverr etc are quite popular, but compared to a decentralized freelance marketplace there are a few drawbacks. Be it the risk of getting scammed, fraudulent payments, unresolved disputes, commission rates as high as 15 to 20%, and entry barrier. Blockchain based decentralized freelance marketplace can solve these issues with providing an equal opportunity, multi-signature escrow to prevent fraud, individual mediators, and a fee as low as 1%. One of the interesting Decentralized freelance projects is Rein project. https://reinproject.org |
|
|
|
|
If you are using centralized exchanges like Coinbase then I guess it's a bit hard to avoid taxes. It is somewhat true even if you are using any other exchange that follow KYC/AML laws and Bitcoin is taxable in your country. As far as you are converting Bitcoin to your local currency and the conversion can be tracked backed to a Bitcoin exchange, you're are liable to pay taxes.
Taxes ends with Fiat conversion. I am not legally obliged to report my non-fiat Bitcoin transactions.
|
|
|
|
There is Grantcoin, the first blockchain-based universal basic income cryptocurrency. It is currently valued at $0.002145, with only one exchange, and haven't been traded in the last 24 hours, maybe more than that. I don't know how Grantcoin distribution works, but did come across an interesting article on Wikiversity about the concept of implementing a basic income cryptocurrency. 1. The UBI cryptocurrency may be based on CryptoNote technology so that mining is suitable only for ordinary PC CPUs without any specific purpose devices. No cap. 2. To have a fair and equal distribution of a decentralized UBI cryptocurrency the underlying model should be centralized for authentication, to prevent some individuals creating multiple accounts, KYC. 3. Hourly distribution of coins to all the participants. Miners will get additional coins. The frequency can be changed as market evolves. 4. This is the tricky part. Having a good number of exchanges globally that would allow conversion of UBI currency to Fiat, Bitcoin, and other cryptocurrencies. 5. Making it available to be exchanged for products/services locally. It looks good on print, but carrying out a successful implementation of a universal basic income cryptocurrency is going to be too difficult. Certainly not difficult than governments implementing universal basic income currencies using Fiat, maybe a 100 years from now. A strong non-profit organization backed by prominent individuals and corporations could make it possible. One of the strong criticisms about UBI is that giving free money will make people work less/lazy and it would have a bad impact on economy. Countries without enough job opportunities, unemployment, employed, but with ridiculously low wages, poverty. There is too much of poverty in the world to bother a bit about laziness. In the future we might see a globally adopted UBI cryptocurrency. http://www.grantcoin.orghttps://en.m.wikiversity.org/wiki/Basic_income_cryptocurrency |
|
|
|
check https://lbry.io/, its a filesharing. not exactly youtube but i believe this is what your looking for. Excellent i already research time ago library credits but what do you think about the project? LBRY is a decentralized digital content sharing and publishing platform and their concept is good, pay-to-watch model. There is another one, Viewly, decentralized peer-to-peer video platform and this one seems a better decentralized alternative to YouTube. They are working on cross uploading where users would be able to sync their YouTube videos to Viewly. Instead of pesky ads, subscription, voting based micropayments model. Concept is interesting. https://view.ly |
|
|
|
I had come across a similar website a few months ago. https://bitcointalk.pwNone of these sites are official, and you should never enter your password there. If you ever accidentally enter your password somewhere other than bitcointalk.org, you should change it here immediately. Maybe some of these sites are intended for bypassing various blacklists such as China's great firewall, but more likely they steal login information or do other nefarious things. I can understand how it gets new posts, but how does it know when an old post is edited?
My site (in my signature) has to rescrape the pages to get new information, and some pages I don't rescrape for months since they never change.
It's just a proxy, it sends a request to bitcointalk.org whenever you request a page there. |
|
|
|
As long as this is profitable for people to do this, they will continue doing this. Expect to see Bitcoin Platinum or Bitcoin Lite or Bitcoin Supreme soon. A lot of developers wants a piece of the pie and the only way for them to get some, will be to fork Bitcoin into one of these Alt coins.
SegWit2x will be the next fork in November, but this one is different. This one is a hostile takeover attempt, not just a opportunistic attempt to create a Alt coin to profit from the fork. They want to control Bitcoin. ^grrrrrr^
But will the exchanges keep honoring them? What if the developers behind a fork are the same scammers who have been making pump and dumps and other shitcoins? It has to end somehow and the exchanges can help by not listing the forked chain. BTG, premined, bounty for replay protection, and if it survives with a decent valuation we will see a lot of forks/airdrops in the future. Bitcoin forks would be the new ICOs, premine, distribute free coins, free money, get instant valuation + user base. It is highly unlikely that any major exchange would support such forks/airdrops, but you never know if there is a high demand, they might, but yeah you would always have exchanges like YoBit. |
|
|
|
you still got money from nothing and that is what is important.
No. You got money from supply and demand. You didn't necessarily profit, and the money that people use to buy these forks at those prices could also affect the BTC price. It seems like a pretty stupid assumption to suggest that it is "free money". It is free money in the sense that by simply holding on to your Bitcoin, you got forked coin. Once the forked coin enters the market and even if it has a valuation of $50 and you sell it, you just got $50 worth of free money, right. You have got a point there about demand, but IMO this demand is to some extent artificial. Before the fork some users buy more bitcoins or convert their alts to Bitcoin to get another altcoin to dump again for Bitcoin. Yeah, it definitely has an impact on Bitcoin price, a correction as people move their funds back to alts, but if the forked coin gets a good valuation and a majority of people dump it, Bitcoin price will correct itself to the point just before the fork or maybe increase further. Before the fork you did nothing and got some forked coins out of thin air and a made a profit, so not outrightly wrong to assume it is free money. |
|
|
|
I recently read somewhere that a guy from US not only ended up sharing half of his Bitcoins with his ex-wife, but also had to pay the lawyer fees in Bitcoin. For a Bitcoin holder, I guess US is a bad country to get divorced in  If you are too damn sure that your marriage isn't going to work out then keeping mum about your Bitcoin holdings is the best way forward. On a serious note, irrespective of how your marriage is going to work out, telling your spouse about your Bitcoin savings is logical, why risk adding your savings to lost coins. |
|
|
|
One of the India's biggest exchanges and a NYA signatory, Unocoin had earlier announced on October 18 that they will only be supporting the majority chain and only intends to offer INR trading pairs for the majority chain. But yesterday they released another update to avoid any confusion in the Bitcoin community stating they will be treating the present bitcoin chain as BTC, majority chain and B2X as minority chain with no trading option. Another NYA signatory bails out. We have made some revisions our stance above. We will be treating the legacy bitcoin blockchain (present bitcoin blockchain that is supporting 1MB blocks) as the bitcoin (BTC) and will be allowed to trade for INR. The forked coin which is the result of the SegWit2X implementation will be treated as the minority chain coin (B2X). We will be allowing the B2X to be withdrawn by our customers after the split https://blog.unocoin.com/unocoins-stance-on-the-upcoming-segwit2x-fork-6708bf90b1f9 |
|
|
|
Free market economists don't have any issue with Bitcoin, buy yeah some other economists are sceptical about Bitcoin and you really can't blame them. We haven't seen something like Bitcoin before, but taking its exponential growth into consideration and applying well-established empirical and theoretical studies, some economists conclude that Bitcoin is a bubble. At the same time some of them don't ignore the possibility that large-scale Bitcoin adoption would weaken the centralized financial system. Nobel Prize winning economist Milton Friedman who extolled the virtues of a free market economic system and believed in complete economic freedom predicted something exactly similar to Bitcoin about 18 years ago. I think that the internet is going to be one of the major forces for reducing the role of government.
The one thing that’s missing, but that will soon be developed, is a reliable e-cash, a method whereby on the internet you can transfer funds from A to B, without A knowing B or B knowing A. When Bitcoin is finally here, some economists do really have a hard time grasping it. https://www.coindesk.com/economist-milton-friedman-predicted-bitcoin/ |
|
|
|
|
Bitcoin generator, Bitcoin hack, Satoshi hack, Bitcoin maker, Satoshi maker, Bitcoin generator/hack tool. All with the same modus operandi, you put in your Bitcoin address, enter an amount to generate, wait a bit, a bit more if the entered amount is large expecting the website/tool to magically hack Bitcoin to generate profits for you. How simple ain't it to generate Bitcoin? Just hack it.
Before you are able to get your magically generated Bitcoin, the website prompts you to complete a couple of offers or pay a fee to get your profit or make you stay longer on their website while their in-browser miner drains your CPU resources. You end up wasting your time, your coins, and resources for wanting to magically generate Bitcoin.
Stay away from any website that offers to generate/hack/make Bitcoin/Satoshi. Rather than asking whether these websites are illegal or legal, put minimal effort into understanding how Bitcoin works. It would save your time and help avoid more scams.
|
|
|
|
|
Yeah, if Bitcoin fails there would be no bailouts. I guess the whole concept of Bitcoin is against bailing out.
Bitcoin becoming a reserve currency is a long shot, but some countries making it their primary currency is quite a possibility in the near future. Any government adopting a Bitcoin-based monetary system would initially have to go through some challenges, volatility, the government's ability to borrow, decentralized/no devaluation, would need to devise a new way for credit creation, but still quite possible, implementable. Third world nations with smaller economies and going through hyperinflation might take this route.
There is the possibility of flawed monetary policies breaking down a nation's economy.
There is the possibility of yet another global financial crisis, maybe much worse than the last one.
There is the possibility of dollar collapsing.
There is the possibility of Bitcoin failing.
Even if it fails, a good percentage of the world population would already have gotten familiarized with the idea that a decentralized currency can exist for the good.
|
|
|
|
Bitcoin is already officially recognized/legalized as money in Japan and Australia. If OP meant which country will be the first to accept Bitcoin as its national/primary currency? Bitcoin is the primary currency of a micronation, Principality of Pontinha  Bitcoin is highly volatile so a country accepting Bitcoin as its national currency would have to deal with volatility having an impact on their economy. But countries with broken economies, hyperinflation, Bitcoin being used as a primary currency by their citizens, hyperbitcoinization, I think such countries might possibly Bitconize completely, for example, Venezuela. https://panampost.com/editor/2017/09/29/venezuela-could-be-the-first-country-to-fully-embrace-bitcoin-due-to-hyperinflation/ |
|
|
|
|
Show Posts
