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641
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Bitcoin / Bitcoin Discussion / Re: Gavin released the increased block size fork code about 2 weeks ago. Can someone
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on: July 04, 2015, 03:16:33 PM
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What's the hold up?
Is there some vote coming? Is Gavin waiting for consensus? Also, why Gavin proposes a slow increase over several years?
because chinese do not want a 20MB increase, but apparently they don't like the slow increase too, at first they were with gavin on it, now they changed their mind, maybe they don't want a multiple fork happening every time i'm wondering why it cannot be automatized in the code with an algorithm without the request of an hard fork every time you need it, for example the code just scale it if we need 2MB, 4 MB and so on... If it was automatized people would complain that they don't have a say. Right now you can "vote" by running a node of the fork you like, without that option people would complain as well as they already do now. |
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643
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Bitcoin / Bitcoin Discussion / Re: WARNING: blockchain split
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on: July 04, 2015, 02:51:43 PM
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Cool, i almost had a heart attack as I came really relax after a workout and swimming in the pool. This sounded pretty fucking catastrophic. Glad im paranoid and never went outside Bitcoin QT and always keep it updated. It shows how you can't trust anything that doesn't download the entire blockchain locally. This is a huge problem since in the future maybe it will be impossible for a lot of people to deal with huge ass blockchains. It's also impractical for mass adoption, most people will not deal with full nodes like us nerds do.
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644
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Economy / Speculation / Re: Why no dump?
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on: July 02, 2015, 11:49:38 PM
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Because it's only a matter of time when it doesn't happen again and instead of a dump you get a panic buy.
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645
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Economy / Economics / Re: A currency or investment?
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on: July 02, 2015, 11:42:17 PM
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Alright. I have seen so many threads asking people to vote what they take Bitcoin as. These include currency, investment, payment and tipping etc. Now, if you can only choose between currency and investment.. What do you take Bitcoin as?
I take Bitcoin as a form of currency and investment. However, currency come first. I have never invested my money into Bitcoin. I only invested my time into Bitcoin.
I went to exchange and try to sell them at high price. Upon receiving the money from selling, I try to buy them again at lower price. This way, I can 1.2x or 1.4x my Bitcoin. And I will spend them online. I will never exchange them into USD or whatsoever currency and than withdraw them - unless I'm forced to.
What about you? Currency or investment?
Many users start with choosing it as a currency and then eventually use it as an investment. For me too, it seems like an investment obviously because it is more promising and reliable. Bitcoin is a really good investment and provides a profitable future gain. Nope, I think many of them start because its like 'free money' to them, they can earn without doing so much things at first but now bitcoin is really give them hope to change their life so they are start on changing this to investment. Bitcoin for short term yes it is good enough, but I dont think that bitcoin as long term investment is really good enough compare to others long term investments like gold or real estates I disagree with you regarding the bitcoin as a long term investment. Yes, the risk quotient right now is high as compared to gold and real estate but I think that bitcoin will truly be beneficial if it is perceived as a long term investment rather than just a little free money. It is really developing as a currency at the moment, but considering ti as a back up investment, just buying 1 btc isn't that bad I guess You wont even know about how will bitcoin go for the future. People here are saying that bitcoin is going to rise in some years may be 10-20 years but thats all is just speculation, although I know that bitcoin is a developing coin that will earn you a lot but without any support bitcoin wont be a good investment at all. Get one bitcoin is not enough if you are make this as your back up investment because it is too little for covering what you loss in the future with bitcoin price around $500 Bitcoin is constantly getting more support from a lot of fronts. A super long term investment of 20 years may make sense to own at least 1 BTC, but to be on the safe side, I would own at least 2 figures of BTC in my stack to be on a guaranteed success area. |
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646
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Economy / Speculation / Re: How many bitcoins do I need to retire in 20 years?
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on: July 02, 2015, 11:37:55 PM
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well we cant really know how long bitcoin will reach ,if it acts like the gold it will explode on those timeline but lets be real 600 dollars in 5 years sounds pretty easy to achieve but it can take a bit more time to reach we are at 250 dollars and isnt soo bad at all
Dude if you are aiming for a price of 600 dollars per BTC in the next 5 years you are being depressingly inoptimistic. Don't confuse being realistic with having low expectations. In 5 years I would be pretty sure that we should be on a solid 4 figure floor. |
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647
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Bitcoin / Bitcoin Discussion / Re: Can you mine bitcoins with a toaster? YES you can!
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on: July 02, 2015, 10:59:34 PM
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Haha, fantastic  Seriously speaking, one day our toasters will probably mine something... But definitely not SHA  Maybe they will. The advancements of technology are getting ridiculous. I remember Gavin saying how in the future a simple coffee cup could mine Bitcoin and with the generated heat you could use it to warm your cofee or something along the lines. The internet of things is real and bitcoin mining go along with it. |
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649
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Bitcoin / Bitcoin Discussion / Re: Right now the Bitcoin trade is dependent on the banking system, how to fix that?
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on: July 02, 2015, 10:08:58 PM
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Bitcoin trading is almost entirely done through banks. Even with in-person cash deals the Bitcoin comes from an exchange or some other supplier via the banks.
How can we change on a wide scale to not be dependent on banks for trading Bitcoin?
How is person to person (in real life) exchange of a BTC transaction in between smartphones for cash issued in hand tied to banks? That's as anonymous as it gets. In fact, it's the only way to avoid the fiat money you are receiving to be attached to you, any other way and you are recieving a money transaction that gets logged somewhere. It sucks that having to find people in localbitcoins or something to meet in person is the only way to avoid that tho. |
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651
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Bitcoin / Bitcoin Discussion / Re: If bitcoin was accepted everywhere would you use it?
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on: June 29, 2015, 03:07:21 PM
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The main reasons people don't use it as much:
1) Lack of merchants
2) Feels like you are paying with something that will be way more valuable in the future (hence a lot of people use it as a storage of wealth)
3) Hard to get (unless you directly convert fiat to BTC to buy stuff that you can already buy with fiat except in non regular situations, which beats the purpose of having it always ready and quick. This will be solved the day salaries are paid in BTC).
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652
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Bitcoin / Bitcoin Discussion / Re: #GreeceBitcoinDrop
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on: June 29, 2015, 03:05:24 PM
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If I was a whale I would do a Greek giveaway, unfortunately im not, so good luck with it. I can't personally afford giving away money for free right now. I may tip some small quantity just for the sake of it.
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654
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Economy / Economics / Re: If Greece defaults
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on: June 29, 2015, 02:57:00 PM
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Some great comments here. I think I am gonna go ahead and buy a bitcoin. I notice the price is already back up at this point.
Like qiwoman2 said, I believe the Greeks have problems with money management. But, I think the people of the US are similar to the Greeks, Greece can't mess with their currency like the US can. Monday will be interesting at the banks in Greece.
But 10 bro, the price is only going up from here, the geo political situation is inside a pit right now, markets are crashing soon, and bitcoin will go up! I would personally put half of my wealth into BTC... considering how risky it is, it's way less risky than a lot of other options right now, specially if you want to make gains and not only keep your wealth at a more or less same 1:1 ratio. That could be done with Gold, but its too boring. BTC is way more exciting. |
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655
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Economy / Speculation / Re: Stocks fall globally as Greek talks collapse
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on: June 29, 2015, 02:54:37 PM
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In the currency market, the euro rose 0.15% against the U.S. dollar, moving to $1.1284 and recovering from an earlier low of $1.1188. The U.S. dollar index, which measures the greenback against a basket of currencies, fell 0.21%. The yen was flat against the dollar.
EUR/USD 1.10 When I used to say "we'll see euro and dollar parity during our lifetimes" I was told I was crazy, but it seems it will take way less than expected at this pace. Next stop: proving im not crazy by saying we'll see 5 figures if not more per BTC during our lifetimes. |
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656
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Economy / Speculation / Re: Long Time Lurker Here. I feel Bitcoin is about to push, pounce, upwards.
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on: June 29, 2015, 02:52:53 PM
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Welcome, luker! Thanks for joining in on the fun 25% increase for July? June went from $220 to $250, so you are thinking about twice as much as June? That would put us around $300 per coin. We'll just have to wait and see, you never know what is going to happen with the bitcoin price. I think we'll break the 300 barrier before September. The price has been stuck way too much time in the 200-ish area. Let the Greece incident develop and we'll see how it goes. |
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657
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Economy / Speculation / Re: Eyes on Greece?
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on: June 29, 2015, 02:50:50 PM
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Tsipras is doing a good job resisting the pressure of the troika. They know it's game over no matter what they do. If they stay getting buttfucked by merkel and company, their voters will turn their back on then, same goes for resisting and ruining the country, but at least some part of your voters will be happy. Greece is facing a dead end scenario no matter what, because they will not wake up and realize the monetary system as we know it is dead and crypto is the only way out.
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658
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Economy / Speculation / Re: Bitcoin ready to take off!!!
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on: June 26, 2015, 02:27:01 PM
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It is hard to tell if bitcoin will reach similar price like in late 2013. I think we don't have any potential now. After great bitcoin news like: experimenting with blockchain potential use for financial institutions and new Canada's pro bitcoin law, I don't see any price rise so I don't believe in $1000 BTC - I think we need to wait for the next halving to find out.
News don't mean insta pump. It's when lots of good news stack up overtime, where a pump happens out of a sudden, because people realize they've been ignoring the obvious, so they want to get in all at once. |
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659
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Economy / Speculation / Re: Is Gavin "The Financial Crisis Is Over" Andresen correct, compromised, or crazy?
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on: June 26, 2015, 02:24:21 PM
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Oh, so the lead developer of a software project is not necessarily the most competent person alive when it comes to matters of international economics? Who da thunk it?
Come on, are you f***in serious?
He's a software developer, not an economist.
Now close this thread.
That's exactly my point. Why is a hyper-specialized code-monkey like Gavin (who is obviously "not necessarily the most competent person alive when it comes to matters of international economics") pontificating on matters of which he knows little? Moreover, why would he presume to tie the fate of a resiliency-based FOSS project to his Pollyanna prognostications and crystal-ball gazing? Many (probably most) Bitcoiners believe we are operating under multiple cascading financial crises, going back to 1913 (Federal Reserve), 1933 (gold confiscation), 1971 (Nixon Shock), etc.:  Compounding these ongoing unresolved/unresolvable crises is the Deep Capture of the economy and most social institutions by Deep State operatives like gavin@tla.gov and hearn@google.mil. The petro(dollar/euro/yen) are dead paper walking. The "Rollover" scenario isn't off the table, it's just been kicked down the road like a can. Of course Gavin thinks putting off difficult work like scaling Bitcoin or abolishing the warfare/welfare state is the is the same thing as solving the crisis... Gavin isn't even the lead developer. Thank goodness the remaining core devs know better than to expose Bitcoin to an iffy bet on Bernanke and Obama's economic legacy (BECAUSE NETFLIX tm). Financial crisis is over? Ha-ha, very funny - tell us another one!  In theory, yes the petrodollar's deprecation has been insane, but guess what, the government keeps printing dollars, and the rest of the governments all over the world keep accepting dollar, so in practice, the dollar is as alive as always. The question is, for how long can this go on. And some fear that it might go on longer than we can imagine, maybe for longer than our lifetimes. So for I all know, in practice it's not dead paper walking, because if it keeps walking longer than your lifetime.. it is essentially alive. |
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660
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Economy / Economics / Re: Best way to turn 2BTC into 4BTC
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on: June 26, 2015, 02:18:37 PM
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I can make it in sports gambling and make parlay, it only took 2 odds and choose a team that is sure to win, even though it has a small odds
and I ever do that, but not 2BTC only 0.2BTC into 0.4BTC
It is gambling. All gambling sites have this thing called a house edge. So realistically, don't ever expect to win at any site. It's all about limiting yourself to what money can you lose monthly and knowing where to stop, so you never lose money. The main problem with gambling is it creates addiction and once you lose you want to always come back in rage to regain your loss, so you enter in a shitty bad luck spiral and its over. |
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