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1261  Economy / Economics / Re: Gold Is Yesterday, Here Comes Bitcoin As A Reserve Currency on: October 30, 2017, 11:51:45 AM
In fact, the movement of profits from gold investment is very slow.
The bitcoin set is moving fast in the up / down condition.
It is not wrong if we think bitcoin is the present with all its advantages to invest.

Gold is not going to move up very quick at any point like bitcoin because its been around for like 10,000 years as money. Its a very good stable store of value and time tested which is something bitcoin cant say.  But yeah bitcoin is much better for the next 10-20 years for sure.
1262  Other / Beginners & Help / Re: Does Bitcoin work for online shopping? on: October 30, 2017, 08:57:52 AM
It's irreversible but they can make the system where the site hold the money first until the item arrive, after that thr buyer confirms it and they will forward the payment to the seller, incase the buyer doesn't receive the item, they can send the money back. It can be done but it needs time until amazon and ebay accept it as payment option.

I think that is perfectly reasonable.  This way we only have 1 middle man of ebay/amazon and not 2 with the bank taking their cut for providing no value the transaction.  Obviously if open bazaar takes over online shopping then great but last time i checked they still need escrow in the trade.
1263  Economy / Gambling discussion / Re: Premier League Prediction Thread (EPL) on: October 30, 2017, 08:19:01 AM

2 main problems everton have are they are accomodating rooney and they lost lukaka.  Sorry to all rooney fans but his time as a starting player for a premier league team is over, hes only good as a 20 minute sub.  There is talk of everton playing him in midfield but would only work in a midfield 3 since his legs have gone and other 2 players whould have to make up for this. Everton relegation is looking possible, place your bets.
1264  Economy / Exchanges / Re: Bitcoin not arrived at vircurex. on: October 30, 2017, 08:10:34 AM
I used to use this site with success but did not know they still were running, please err on the side of caution though they have had problems in the past and people got their funds froze (usual story etc).  You can search their history on ths forum.
1265  Other / Beginners & Help / Re: Does Bitcoin work for online shopping? on: October 30, 2017, 07:55:42 AM
When you buy something on eBay or Amazon, you pay the seller, he ships the product and upload a tracking number.
If you haven't received the item, you can call eBay or Amazon and, basically, what happens is that if they have a tracking number that shows that the item has been delivered, then it is ok, otherwise eBay or Amazon reverses the transaction and you get your money back.
Is that possible with bitcoin? What if I buy a boat online for 2 bitcoins and I never receive it? Is bitcoin able to solve this problem?

Thanks

The only solution is credibility of the seller. If seller is credible, you can go first with Bitcoin.
There are services like Purse.io. They let you buy stuff for Bitcoin on Amazon. In this way, you can easily buy whatever you want and have no risk of being scammed as Purse is reputable company.


This isn't water tight because 1.) Credibility of a seller can only work over a certain period of time. So new sellers have a barrier to entry which is not great for the online economy. 2.)It works better for low value items only. So something that is $10 $20 etc a seller will likely deliver all the time because of risk/reward ratio. If you have a seller who does high value items they can build up their rep to pull off one big scam. 
1266  Other / Off-topic / Re: Mother in law asked me about something called bitcoil :) on: October 29, 2017, 10:45:11 PM
Well, I was giving a mother in law a ride to work and in car she asked me if I've ever herd of something called bitcoil? Bitcoil?

Bitcoil will go down as the 2nd most lengendary mispronouciation vs bitcorn.  I like Bitcoil though its like its coiling up ready to release into full bull mode.
1267  Other / Beginners & Help / Re: Does Bitcoin work for online shopping? on: October 29, 2017, 03:27:10 PM
Bitcoin is deliberately intended to be a non-reversible payment system.  In fact, satoshi clarifies their position on this in the whitepaper:

With the possibility of reversal, the need for trust spreads. Merchants must be wary of their customers, hassling them for more information than they would otherwise need.  A certain percentage of fraud is accepted as unavoidable.

Transactions that are computationally impractical to reverse would protect sellers from fraud, and routine escrow mechanisms could easily be implemented to protect buyers.
So Bitcoin itself is deliberately not intended to do this, both to decrease transaction costs by removing the cost of mediation, and to prevent the common possibility of fraud.  It's a fundamental part of a decentralised system.

However, some payment gateways and escrow systems are used (including BitPay) to help you handle this if you decide to.  The good thing is that at no point are you forced to use a reversible payment, whereas PayPal and banking systems are incapable of completely non-reversible payments.
 

There will need to be more work done in escrow for bitcoin to become a dominant force because even with chargeback facility of paypal and banks there are still occasionally low selling standards on ebay with some sellers. Chargebacks are the best thing to keep ebay a semi legit trading place right now.
1268  Other / Beginners & Help / Re: Does Bitcoin work for online shopping? on: October 29, 2017, 11:48:11 AM
When you buy something on eBay or Amazon, you pay the seller, he ships the product and upload a tracking number.
If you haven't received the item, you can call eBay or Amazon and, basically, what happens is that if they have a tracking number that shows that the item has been delivered, then it is ok, otherwise eBay or Amazon reverses the transaction and you get your money back.
Is that possible with bitcoin? What if I buy a boat online for 2 bitcoins and I never receive it? Is bitcoin able to solve this problem?

Thanks

If scammers want to scam you on a platform like Ebay they have plenty of options even if the item is delivered.  But let me first tell you you cannot actually accept bitcoin as a payment option on ebay, you also cannot accept cash through the post either (thats the UK rule last time i checked anyway).  You can as a seller mark payment received for a product, this is an option ebay have and ebay wont know how you've been paid. So... lets assume you buy an item from an ebay seller, you contact them and ask to pay in bitcoin, they say OK and mark payment received after you have paid to their address. If they then dont get the item sent to you or its lost in the post/defective im assuming ebay will compensate you in fiat because it falls into the bracket of ebay buyer protection if you have had to contact ebay to step in.  A refund direct from the seller direct to buyer is a different thing, they would have to send you the bitcoin back else you get ebay to step in.  

Im assuming after going through this 1.) ebay would warn you not to pay in bitcoin again and 2.) ebay would warn seller not to accept bitcoin again.  But yeah in theory you could accept bitcoin for a trade sure. I have actually accepted cash in the post before for an online sale (in ebay's eyes its same as a bitcoin payment) and everything went smooth.
1269  Bitcoin / Bitcoin Discussion / Re: How did you buy Bitcoin back in 2010? on: October 29, 2017, 10:18:40 AM
Buying BTC is easy today with sites like Coinbase but what was it like in 2010 and 2011?
What wallet did people use?

There are threads on this forum with people trading off of google spreadsheet market style. You will be shocked when you see how much they buy and sell at low prices.  I remember seeing a thread where forum members are talking about 1 guy having over 300k coins etc and someone should PM him and tell him bitcoin went over $1 and so he has $300k! lol
1270  Economy / Gambling discussion / Re: Premier League Prediction Thread (EPL) on: October 29, 2017, 10:11:46 AM
Harry Kane confirmed injured and will not play in the match vs Man United later.  Now I feel much much better with my bet on the draw.  I think it's gonna be 1 - 1 after 90 mins.

Good luck to all your bets this weekend.  Smiley
Harry Kane's absence is certainly going to give Manchester United an advantage in todays fixture despite having dropped points in the last 2 matches with a huge upset against Huddersfield that we did not expect, am hoping the red devils can recover with a win today as history is on their side which suggests the home team usually carriers the day in this fixture.

Turned out to be true and spurs missed kane quite a bit which doesn't bode well for the future for spurs since madrid will probably buy him or something. United played really bad but still mourinho knows how to win ugly. I got the prediction right but wrong score.
1271  Bitcoin / Bitcoin Discussion / Re: Bitcoin & Bitcoin cash on: October 28, 2017, 08:22:00 PM

Litecoin has always been faster and cheaper but these are small benefits when you consider the grand scheme of the original bitcoin chain which now actually isn't a high risk investment anymore IMO.
1272  Economy / Economics / Re: Is time too late on: October 28, 2017, 06:01:29 PM
i just check old posts in Currency exchange and Found how bitcoin was so cheap at 2011

Example

this User ask for 32$ only to sell 2BTC

2.00 BTC for sale - $32 USD (MTGOX PRICE is 16.68)

Only trusted members with reputation!

So are you think time now is too late  or some one in future will say how price was cheap in 2017 like my post


Shear what you think Huh

The price back then was based on a system with less users, no asics, no ATMs, no bigger backers, minimal dodgy exchanges, risk of hacking since it was new technology not tried and test.  Its a different investment now, cant compare the 2.
1273  Bitcoin / Bitcoin Discussion / Re: FORK'd - People lost more money holding BTC for free BTG than they made in USD on: October 28, 2017, 12:49:13 PM

It easy to say in hindsight but i did think to myself BTG would be worth maybe $100-$200 and the price of BTC within 24 hours before the fork had gone up $300. This means we are bullish until the mid november fork.
1274  Economy / Service Discussion / Re: Ebay & bitcoin on: October 28, 2017, 09:45:27 AM
be careful of scammer ebay does not accept bitcoin and if anybody tell you that he/she is selling BTC on ebay I will advice you to buy from exchanger website instead of taking a risk of buy BTC on ebay. it is not safe

You have ebay buyers protection if you dont get what you want so there is little risk to buying i see.  The bigger risk comes from selling on ebay.  My tips for buying on ebay though if you do/can:

1.)Use ebay case system if you do not get what you paid for
2.)Use paypal cases as a back up if needed.
3.)Pay via card and not your paypal balance so you can do a bank chargeback if needed.
4.)Buy in small amounts, there is no reason to buy a large amount in 1 go, i dont believe it could be cheaper this way else the seller is maybe a scammer - not that they can really scam you anyway if you follow rules 1 -3, it just means your time wasted is at risk.

But yeah all in all i might actually buy small amounts of bitcoin on ebay if possible tbh. Dont see why not. Depends on price more than anything.
1275  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: Are Exchances stealing your BTG? on: October 28, 2017, 09:21:37 AM
I was wondering. What is stopping exchanges that don't support the new BTG using your bitcoin and claiming it for them selves, without you ever knowing about it?


Unless they stated pre fork you would be paid out the coins of BTG i guess they are legally free to use your BTG.  I myself actually had coin in kraken before the fork so i guess the BTG is theres.  Bitfinex paid out everyone in full.
1276  Economy / Gambling discussion / Re: Premier League Prediction Thread (EPL) on: October 28, 2017, 09:08:16 AM
Harry Kane confirmed injured and will not play in the match vs Man United later.  Now I feel much much better with my bet on the draw.  I think it's gonna be 1 - 1 after 90 mins.

Good luck to all your bets this weekend.  Smiley

Yeah i saw this news, hes out with a slight hamstring strain.  Im actually thinking united could win for this reason... going for 3-2 or 2-1 to united in epic battle match.
1277  Economy / Speculation / Re: Difficulty jumps 21% on: October 28, 2017, 09:00:31 AM
Have no idea. But I believe hashrate increases are generally a positive sign.

Could it have been miners who were mining BCH coming back over to BTC?

It could just be natural growth where the price and interest has been well up for a while now.  If the diffculty doesn't catch up it will mean too many miners are making easy money.
1278  Economy / Speculation / Re: Why bitcoin can never go past $7000 on: October 28, 2017, 08:56:42 AM
Bitcoin's volatility has been steadily decreasing over time, which means huge price movements upwards are less likely than ever. Sorry it's not going to happen. I think 5000-6000 range is the correct or fair price, so selling at the higher end of this range would bring profit at least and then I think alt coins start making more sense at that point

Its just a number dude, how come you value USD so highly i dont understand? Even if bitcoin stayed level in utility value for the next few years the inflation rates would make it go over $7000 anyway.
1279  Bitcoin / Bitcoin Discussion / Re: Confirmation are taking forever to process, is it only me? on: October 27, 2017, 08:29:41 AM
I did a transfer of bitcoin between my wallet and an exchange wallet to cash out some and the hash was presented immediately but 3 hours later not even a single confirmation on the blockchain. Is it only me or the all system is erratic and crazy after the fork?
Are you also experiencing something like that? how long it took your confirmations?

I have found more variance over the last few months with confirmation times like everyone else.  Make sure you check the fee you are sending, some of the wallets estimates can be wrong.  So upgrade to the latest wallet. You can also consider custom fee to make sure you pay a high fee.
1280  Economy / Gambling discussion / Re: Premier League Prediction Thread (EPL) on: October 27, 2017, 07:34:01 AM
Cup games are pretty easy to pick winners as you would think the games should all go with the favourites:

Chelsea 2 vs Bournemouth 0
Arsenal 3 vs West Ham 1
Leicester 0 vs Manchester City 4
Bristol 0 vs Manchester United 1

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