they can still use it directly to buy thing online, you don't really need coinbase to do it, you can pay with bitcoin in many online shop already in the USA
remember that bitcoin isn't born to be used around a centralized system like coinbase bitpay and all these
The problem is if they start inspecting the customs and open the packages to see what was used to pay for it, and start banning every single package that was paid in BTC outside their regulatory platforms... |
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"The value of bitcoin isn’t the currency, but the technology. I can’t see many major governments around the world saying, ‘We’re going to move to bitcoin as currency,’ but I suspect that the world will embrace the uses of the blockchain.” -Anthony Watson
Looks like Bitreserve might have a good future ahead.
What he said it true, The blockchain contains the record of every bitcoin transactions that is occured since the system began and it's shared maintained in the network. Bitcoin is peer to peer system, it has a legitimate transparency, most of the business giant wouldn't accept that process to avoid to hide their financial flow which comes in other way. If you are using the blockchain you are indirectly using Bitcoin. There's no blockchain without Bitcoin, there's no Bitcoin without blockchain. It's pretty simple to understand but some keep not getting the point for some reason. If you remove the native currency *the blockchain doesnt work*. |
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But we had people here yesterday complaining about some of their transactions didn't go thought for 2 hours. How's that OK?
Not to mention blockchain.info wasn't accessible for a while.
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Most people still use it as an investment that they hold and hope for a revaluation in the future which may or not make it back to their local fiat. Why? because people perceive BTC as something valuable like gold, rather than cash. Only in situations where they would have a solid benefit (overseas transaction or whatever) they would use BTC imo.
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If you do not do many trades and you have a couple weeks/months where you aren't making any transactions (b&h) then interactive brokers will charge you a flat fee for that period of time.
To sum it up it means that if your commissions paid to interactive brokers will not surpass $10 a monthly, they'll charge you $10.(to avoid this you would have to keep an equity balance of $100.000 with them)
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Oh boy, who would have expected that... a dead cat bounce, what a surprise LOL...  Why don't you scroll that chart back 3 more days?? A dead cat bounce doesn't go 230 > 253 > 245........ noob. Because that would go against his FUD agenda. These guys always interpret graphs the way it fits their motive better and try to pass it as universal truth. |
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If you keep spending, you'll obviously end up with an empty wallet, no mater what rates of interest, deflation or inflation and so on variables are at that moment in time. The only way to avoid this is having a steady source of income, which unfortunately in most cases it means being a wage slave.
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Takeover by financial and economic means. Asphyxiation by debt upon debt. They should default on the debt as soon as possible, start printing Drachmas, and being creating jobs and rebuilding its economy, and say goodbye to their bureaucrat bosses.
I`m not sure if you exit from 1 puddle you want to enter in the next. The money printing is the whole problem that made them indebted. Switching currency and doing the thing over again, i`m not sure it would be wise. Obviously the ideal thing to do would be to start using a cryptocurrency to not end up in the same trap again, but that's expecting to much from the greeks and in general any goverment. We are way too ahead of the curve. The governments are not going to adopt Bitcoin because that would constitute losing a lot of control over their citizen's money (even tho the privacy in bitcoin kinda sucks unless you know your ways around it) |
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nice post.
right now the challenge Is crossing the chasm to where early adopters will start using it, not just innovators.
People give way too much value to their hard earned BTC's to spend on frivolities. It's not the same having 3 BTC for example, than having 10000. If you have 3 BTC you give it way more value than it's inmediate equivalent in fiat, and you would rather use fiat than BTC to buy stuff. |
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Hi,
I need urgent to know.!!
installed the new bitcoin Kern V.0.10.2 on my vps and my home computer
now about 1 month but suddenly I lost all my BTC. Sombody know how possible?
And it goe's to this wallet 1Q3PuoCZ8yR9KSSkxJrNkCdxYu9KGMQtdy
Thanks
beaware of vps and where you connect to them with putty for example also who was the original owner of the vps? you or it was purchased? anyway it sounds like you are infected Afaik there are no risks in using VPS , Tor or any other proxies, as long as you control the private keys it should't matter. He probably had a keylogger or something. |
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It was about 600 back then before the 1K+ ATH peak.
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Bill Gates' wealth is growing like a snowball. Now it is 79.3 billion USD
Satoshi, with roughly 1 million bitcoin, is worth 250 million USD. Thus, Satoshi's fortune is hundreds of times smaller than Bill Gates.
Who do you think will reach 1 trillion first and why?
His wealth maybe be growing like a rolling snowball but he is not even 10% of the way to the trillion which you are speaking. Satoshi and his 1 million bitcoin is not worth $250million, go try and sell 100,000 coins you will see what it does to the market. Neither of them will become a trillionaire but Gates will be the closest. Satoshi will be the first trillonaire because we are at the bottom of BTC now and he would need something along the lines of 1MM per BTC, which is a given during our lifetimes. What I doubt is Satoshi still owns all of those coins at this point, also im not sure how old he is, he would need to be rather young to make it. |
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I actually think 241 is a good guesstimate for june's average. For the average to be that it probably needs to stay at around 250 for the rest of the month since the first days of june were always below that average.
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By then besides us being dead, 1 BTC will be something ridiculous like 100 million current USD dollars, which means the small BTC made from mining will still be profitable, well it will not be really mining, it will just be transaction processing.
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Hopefully the Elements technologies that Gmaxwell is working with on Blockstream can save us from this bullshit. I've heard privacy will be increased starting with confidential transactions. It's not ideal but at least they will not know the amount of money moved.
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It was probably well thought. Coinbase is one of the leading markets. After all it's all a big competition to steal volume from your competitors, and Gemini will be a big one. |
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Hello all. I have been thinking a lot about alternative economic systems and have two hypothetical questions.
Say there is a country of 4 million people and the average earnings every year for each person is 25,000 units of bitcoin. And in this country, the people here save 10 percent of their income (for religious reasons or whatever). And when I say save, I mean they do not want to invest it in the stock market or a company or anything else. They just want to set it aside, like keeping gold coins under your mattress. I assume this because to my understanding bitcoin doesn't support money printing and this means people aren't forced to invest their money to avoid inflation. Come to think of it, deflation is a great incentive to save money. Now, this would mean every year 2500 bitcoins per person is no longer circulating within the economy. Just laying dormant. In 10 years it would be 25,000 per person. In 100 years 250,000. My question is, is this sustainable for an economy? What gives?
Secondly, what effect would an interest free economic system like the muslims supposedly use have on an economy based on bitcoin? To my understanding muslim banking is a bit like kickstarter where people pool funds to create a business (could be occulus rift or lego or whatever) and if the business succeeds they get a share according to what percentage they invested in the company. If it fails then everybody loses. This reduces debt loads because you are not stuck with interest payments and there is really no such thing as borrowing in the traditional sense. Room for fraud obviously but it seems there is a lot of fraud in our current system as well. And with a system like the internet, past reputation can probably be easier to gauge. Is this sustainable also? What are the pros and cons?
Please note I am by no means an economics specialist, just worried about the way most economies around the world seem to be unsustainable and imploding and thinking of solutions. Thanks
Bitcoin will keep releasing new coins into the economy until year 2140. Sure, after 2025 he curve starts getting pretty flat and there aren't many new coins generated, but by then the price of BTC will be way too high to talk in terms of BTC, mBTC will be the standard. There is no problem in people saving, if there is demand, that just means the price goes higher, and given the exceptional divisibility of BTC, the economy will still be fluid. I remember hearing somewhere that in theory, the whole BTC economy could perfectly function under 1 BTC available only, it's that divisible. |
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Supply & Demand controls the price. You forgot to add the third factor that controls the price which is manipulation. If the big greedy pump and dump miners actually scale back on dumping it the price will rise.
Most people are mining for profit and that would cause them to dump whatever amount they could get as long as the cost for mining < price of BTC . Miners dumping isnt a reason that the price hasnt reach $1000 to be honest and even with the miners keep on dumping , the price has been rallying for $23 now which serves as a proof that miners isnt at fault for dumping their mined BTCto pump up prices.
You should be aware that every pump will be followed by a dump shortly afterward . Pump will only create a bubble that burn alot of people anyway which happened at the $1200 peak before But BTC HAS to keep getting the price higher and higher, eventually a new floor will be set, maybe the next bubble is 2000, and it crashes back to 1200 or something along the lines. Dont get yourself under delusion that the next bubble will be at $2000 and after that the price would be stabilized at $1200. It is 2015 and people are not stupid to fall into another bubble anymore because the peak of 2013 has burned alot of people. Also that a bubble is not answer if you are seeking for $1000 price and it is called bubble for a reason. If people are seeking for BTC to reach $1000 then there will be no easy way to do it because only mass adoption could be the reason for it to happen and it wont be in such a short time The peak of 2013 only burned average joes, the old money has never been in BTC yet, and they will being once Gemini is operative. BTC will need to have an higher floor, because after a couple halvings the price is better 1000+ or else the mining will not be profitable for anyone. |
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Most of people that use bitcoin their obvious answer probably is going to be "because it's annonymus and don't need my real informations and my account don't get limited" when you ask them why do you use Bitcoin . But most of them also use Exchange to trade their bitcoin and most of those exchange websites asks for ID or passport verification and residence and some other real informations , so isn't this a contradiction  don't exchange defeats the purpose of bitcoin Yes it kinda does, that's why there are people working in p2p exchanges like coinffeine, so we can eliminate the middle men and only exchange with an individual instead of handling your data to an institution. At the begining you only needed credentials when you deposited fiat, but I think its clear now (looking at what happened with poloniex) that we are approaching an era of control where even if you only deal with cryptocurrencies only, you'll need to show your credentials to deposit and withdraw specially past X amount. I really hope they come up with ways to circumvent this bullshit. |
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Mike & Gavin are desperate to get the full control of the source code by XT fork, so that they can implement address blacklisting to make the regulatory bodies happy. They will most likely be financially benefited to do that. In fact, it is a long term agenda of Hearn & company... Ref: Freezing BitCoin addresses by regulating minersIf they try to fuck us up big time like that, wouldnt all we would need to do is to abandon the fork and continue with Core or someone else's fork that is legit? the problem of course would be if they bribe big time miners to stay in XT.. |
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