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1081  Alternate cryptocurrencies / Altcoin Discussion / Re: Is PoS safer over PoW? on: May 22, 2018, 12:10:58 PM
The market value proves that the electronic currency has chosen POW. Most of the top POW coins in circulation are market capitalization, and Bitcoin alone holds a market value of more than 80%. The market value of POW coins, such as Litecoin, dog coins, and dark coins, is also higher, and dot currency is POW plus POS. However, the POS model's bit stocks, future coins and so on have not been ranked higher in market value. The market value is also much smaller than the POW currency. Reebok and Stellar are either POS or POW, but adopt a consensus mechanism that they do not have a blockchain. It is also impossible to create a blockchain with POW or POS. The value of electronic currency is not generated by POW or POS. The purpose of POW and POS is just to ensure blockchain security. E-coin value = powder loyalty * user volume * The source of the value of the application volume is not related to the process itself.

Soon Ethereum will hard fork to PoS, and I can't wait to see what happens.

I predict a an internal civil wark in which there is a split and we will have ETH-PoW and ETH-PoS. Most people will stick to ETH-PoS because that is what the dear leader Vitalik Buterin will support, but still, will be a big clusterfuck for Ethereum.

I can't also wait to see what happens when they move to PoS in a system where 80% of the initial supply was distributed to basically the developers. Ethereum is such a shitcoin, unbelievable it went this high in price.
1082  Alternate cryptocurrencies / Altcoin Discussion / Re: Is PoS safer over PoW? on: May 22, 2018, 12:34:14 AM
PoS is not safer

there are ways to play around with the "validator pool" so that on person with 20 addresses (if the pool requires minimum 20 validators) could slf 'mine' blocks forever

PoS is cheaper to mine.. again making it easier to attack
PoS is more energy efficient as it doesnt require special equipment. but with that said instead of buying millions of $$ of equipment you can spend a smaller amount on staking a validator pool you game the PoS system

This is why PoW critics are incredibly wrong when they say, "Proof of Work is so wasteful, they are polluting a lot for no purpose".

What's so difficult to understand about the fact that all that energy generated in the mines is to secure the network?

Without all that "waste of energy" it wouldn't be possible to claim that Bitcoin is the safest crypto in the game. You either have it or you don't.
1083  Other / Meta / Re: Was Satoshi from USA? (during 2009-2010) on: May 21, 2018, 05:46:44 PM
Don't know where you read that satoshi is from Japan?even if he has a Japanese's origin , he could be living in the USA right now.

Who would have known Satoshi better than Hal Finney?

I was reading Hal's post and found this....

Today, Satoshi's true identity has become a mystery. But at the time, I thought I was dealing with a young man of Japanese ancestry who was very smart and sincere.

Personally, I've always thought Hal Finney was satoshi, or very involved within the satoshi team if there ever was one, but in any case, as long as analyzing satoshi's posts in this forum in order to try to know where he is from based on the statistics, posting hours and so on... I think it's very misleading.

Consider the fact that most people that are into computers heavily, let alone someone very immersed in a revolutionary project, tend to have very fucked up sleeping schedules. This is often seen in genius people of all fields, from science, math, to music, cinema etc. People immersed in their projects often neglect their own health, and this includes your sleep. So no.. I don't think it's very accurate saying he was from the US or anywhere else because of that.
1084  Bitcoin / Bitcoin Discussion / Re: Royal Bank of Canada BANS ALL Cryptocurrency Transactions! on: May 21, 2018, 04:02:04 PM
then it is time to change your bank!
it is simple, when a bank that you are using stops offering the service that you wanted to use, then you simply switch to another bank that does offer that service. other banks may not have the same rules, and i know that some of them are even offering cryptocurrency related services such as a cryptocurrency vault in  Pacific & Western Bank of Canada.

Soon will be entire nations banning crypto, so even if you change to another bank, and let's say you are in Canada like OP... then every bank under Canadian jurisdiction will not allow you to do anything crypto related, which means you are forced to, at that point, move your crypto activities off-shore, which can lead to some problems if you don't know what you are doing.

This is why im too scared to do anything with my coins other than holding them. It's better to just hold long term and let everyone take their masks off and define themselves as pro bitcoin or anti bitcoin, and once it's clear who is going to give you a good treatment and who is going to steal and confiscate all of your funds as soon as they hit their bank's jurisdictions, make some moves. Until then my advice is to not risk it, just hold and let things develop.
1085  Alternate cryptocurrencies / Altcoin Discussion / Re: BCash fork on: May 21, 2018, 03:51:06 PM
Ironic isn't it? That someone is making a fork off of another fork. I wonder what they will call this one but mostly I am just curious if the people making the fork will call it the real bitcoin cash just like the people who made the bitcoin cash fork like to refer to it as the real bitcoin. Forks are not good and they do not serve any purposes. It will end up just dying out in a matter of time


There have been previous forks already. when they changed the Estimated Difficulty Adjustment for instance, this required a further hardfork, which some trolls used to create "Bitcoin Clashic":

https://twitter.com/bitcoinclashic

So yeah, it already happened, but im not sure if anyone even bothered to do it this time with the 8MB fork. The fact that BCash is making all these hard forks and smooth sailing around them without much discrepancy just proves it's a centralized project.
1086  Alternate cryptocurrencies / Altcoin Discussion / Re: BCash fork on: May 19, 2018, 07:18:17 PM
According to fork.lol, there hasn't been any changes whatsoever after the fork, so this means no increased hashrate, no increased transaction demand, no increased security for the network, nothing...

https://fork.lol/reward/dari/btc

It's pretty obvious there's just no demand for bigger blocks, which shows how insane Gavin Andressen was when back in the day he was saying it was urgent to increase the blocksize it otherwise the end of the world was coming to the Bitcoin network... meanwhile here we are with an almost empty mempool.

http://gavinandresen.ninja/why-increasing-the-max-block-size-is-urgent

1087  Economy / Speculation / Re: Website to follow McAfee's $1,000,000 model on: May 19, 2018, 06:44:10 PM
For these that didn't trust clicking into that weird link, here is a more user friendly link:

https://bircoin.top/

But in any case, it's a 100% legit site... I wouldn't risk my Legendary status posting malware.

Now on the graphic itself.. the reason I think it's still a reasonable prediction is because we are not that far off so far. Remember that during the $20,000 peak, the prediction was 295 days ahead of the curve, so that meant that at that rate of growth, we were going to $1million in around 2019...

Of course, that was not sustainable, but this means that we can go below the curve for a while, and still make it on top on the long term, and on average be following McAffee's prediction.

A lot of people think it's a joke but he put thought into his model. So far is not far fetched to get to $1million in 2020, dec 30th.
1088  Economy / Economics / Re: Best listed electricity company stock to buy on: May 19, 2018, 03:28:00 PM
Dividends are good, but you will not get rich from that... it's the already rich people that can make a good living off small % dividend returns alone.

If you are born without look, like 99% of us, you need to take more aggressive positions and assume higher risk. The less capital you have, the highest risk and the higher creativity you must take into your moves.

If you are born with millions you can put it on the S&P500 and just chill while making millions doing nothing, if not, then things like Bitcoin are what creates new wealth. That, or getting at the bottom of the next big stock to blow up, etc. You must beat the time/money graph somehow.
1089  Economy / Speculation / Re: What would happen if Bitcoin did hit $1m by mid-2020? on: May 19, 2018, 03:17:30 AM
If Bitcoin did hit 1M$ by mid 2020 like what Mcafee predicted...

Mcafee credibility is being questioned

John McAfee-Endorsed ICO Apologizes For Plagiarizing Content From Blockchain Taxi Platform

then we should not take his prediction seriously.

OP is impossible to reach this price in a short space of time, not even  reach the $ 30,000 and we are already dreaming of more than $ 30,000? I think we'd better be realistic.


It's hard but not impossible. Remember that Bitcoin grows exponentially, and exponential movements are often not considered as realistic in Bitcoin terms...

Not a long time ago, $20,000 predictions were considered "insane". Traders like Tone Vays were predicting $7500 as best case scenario.

The fact that McAfee is a shady figure doesn't mean his model is incorrect. You can check his model in a graph here:

https://bircoin.top/

So we are on a good track, going up and down the curve, as long as we are near it, McAffee's prediction isn't far fetched.

If we keep going down the divergence may be to good to get there on time, unless we see a massive pump.
1090  Economy / Speculation / Re: Chinese ministry to publish 'blockchain ratings' on: May 19, 2018, 02:41:52 AM


unless they mean to declare war against bitcoin and use the military with tanks on the streets they will not be able to close down mining operations. it was discussed before, in China mining farms are feeding a lot of people on different levels and at different posts. from normal people to government officials. you can't close down such operations, nobody will let you do it!

I don't think the Chinese government couldn't care less about the unemployment that getting rid of Bitcoin mining could generate.. given past precedents. China doesn't care about their citizens that much, and I don't think mining creates a lot of jobs, it may create some jobs, but it wouldn't be a disaster.

The question here is, what does China gain from mining Bitcoin and what does it lose? If they are smart, they should understand by now the importance of your country being the leader mining force in the future of finance.. so like I said, I wouldn't be surprised if they eventually ban Bitcoin in China WHILE still allowing mining.
1091  Economy / Speculation / Re: 5-Weeks of Green Candlesticks Bullish AF on: May 18, 2018, 06:20:18 PM
My next 2 big drops would be around $4500, then the very last, lowest and therefore ideal entry point to go all in, $1600, for the global, very long term uptrend. For now we've broken $8000. Let's hope we close this week with a red to get another streak of greens..

Wowee, not saying it’s impossible, but in the last 5 years, the price has never dropped that significantly after a 5-week green run. A few false starts back to baseline, sure, but ultimately they’ve led right back into a bull market.

Yeah yeah past performance no guarantee, but call me an optimist. I imagine it would take some pretty terrible FUD to knock another 50-80% off these prices. Rat poison and baby brains cubed.


Im not saying there are high possibilities of seeing these low prices... but the possibilities are there, im just applying technical analysis. Fundamental analysis is higher on the hierarchy for me than any TA, so any news or possitive developments could make the price go up against any TA predictions.

Why I saw it's realistic we could see lower prices, because we have a mixture of 2 things:

1) A bunch of idiots holding Bitcoin whose don't know what Bitcoin is and are just waiting for it to go higher to dump again for fiat, and when it doesn't they get nervous and get shaky.
2) Whales and generally TPBT understands they can't Bitcoin, only become a bigger player in it: so it's on their incentive to see lower prices before they start going all in and we go to $100k-$1million during the next decade. They want to enter in big and they will look for the perfect buy, which may be lower. Of course, the lowest point may have been $5900 already. Or they may have been buying for years, who knows.

1092  Bitcoin / Development & Technical Discussion / Re: Resurrecting the Champ: PoW to become Bitmain/Buterin resistant on: May 18, 2018, 06:03:30 PM
As widely discused before, it is only a matter of time when ASICS (or just specialized hardware in general) will always arise no matter where you go with the PoW configuration. Just pick any algorithm, and I don't see how these fast as hell machines will not start appearing eventually again, so it's more can down the road kicking.

I still see the "random PoW change lottery" approach as the only way to sort of spread around the advantage, so in some cases, some people will have more hashrate, in other cases, others will.

Im not sure how viable is this and if this would help decentralization in practice. What if someone has a massive advantage in a certain hashing algorithm and we are stuck with someone clearly dominating for a while? they could use that time to perform an attack... one would need to make some sort of simulation model before venturing in such a thing.
1093  Economy / Economics / Re: Best listed electricity company stock to buy on: May 18, 2018, 03:17:06 AM
I wouldn't count on Ethereum winning anything, specially on the mining field. Remember that Ethereum will have a hardfork soon to PoS (proof of stake) so Ethereum will no longer have miners.

Now when it comes to Bitcoin.. it's difficult to say which electricity company stocks to buy. You must look at where the hashrate comes from and it comes from China mostly, and im not sure what stocks related to electricity I would pick.

Non-China based, I only know MGT Capital Investments Inc. (MGTI) which is owned by McAffee.

Quote
MGT Capital Investments began Bitcoin Mining September 2016 in Washington State and these facilities are still mining today. These units laid the ground work for our self contained mining containers which can hold up to 400 Bitmain S9 Antminers enabling us to stay mobile if needed.

Our latest Bitcoin Mining facility is in Northern Sweden. We scouted for locations in 2017 and found a location which can hold close to 20,000 Bitmain S9 Antminers.

So this would be an option. If you can, avoid investing in Chinese stuff, they have enough power on that field already.
1094  Economy / Speculation / Re: 5-Weeks of Green Candlesticks Bullish AF on: May 18, 2018, 02:53:44 AM
Good point, weekly green candles happening in a row are always good, but in my book resistances are king. Moving averages and previous resistance points to re-test prices is higher in my hierarchy of things that I look for in technical analysis than weekly closes, but this is indeed interesting since a 4 green streak is pretty damn rare... we'll see how things develop.

My next 2 big drops would be around $4500, then the very last, lowest and therefore ideal entry point to go all in, $1600, for the global, very long term uptrend. For now we've broken $8000. Let's hope we close this week with a red to get another streak of greens..

In any case, anyone attempting to nail these ideal entry points is insane. This is Bitcoin and it could pump to ATH in literally days. Anyone not holding at least 1 BTC by now can't gamble and has to start buying monthly, at market prices.
1095  Alternate cryptocurrencies / Altcoin Discussion / Re: Regulations and use of VPN - What are your views on: May 18, 2018, 02:34:58 AM
Most of the time I use VPNS in the U.S. and Japan.
Because there are so many VPN providers in these places, they are cheap and fast. ,

What location is set by your VPN provider while browsing ICO sites?

Any decent VPN provider will give you a big list of IP's in an array of different countries in which you can select from to connect at, so you can be in the US, Japan, Singapur... all just with one click.

Typically people get VPN's to participate in ICO's which are banned in certain countries, usually US, since the SEC has attacked ICO hosting in there a lot.

Generally it is a good idea to use VPN's for everything crypto, since you don't want to let your IP be attached to your transactions. An attacker could use your IP to attempt doxing and blackmail. I don't trust exchanges, so I never log in without an VPN. In here I just use Tor.
1096  Bitcoin / Development & Technical Discussion / Re: POW vs. POS on: May 18, 2018, 02:03:22 AM
Trying to get around PoW is like trying to cheat the laws of the universe: you just can't.

Every other model has been already been refuted. Google "nothing at stake", there have been disasters before in PoS coins like NXT.

DPoS (deleted proof of stake) should bring alarms to experienced people in the field... "delegates" is the last thing you want in a decentralized system.

All these other coins like IOTA, Byteball etc.. simply aren't safe enough to trust $millions worth of anyone's wealth at.

I wish we had something cleaner than PoW, but the raw power used in the BTC network is what makes it insanely secure. The only risk is % of hashrate centralization as we know, but that is something we have to deal with.
1097  Economy / Speculation / Re: Chinese ministry to publish 'blockchain ratings' on: May 18, 2018, 01:35:19 AM
https://bitcoinist.com/china-release-cryptocurrency-ratings-ranks-ethereum-1st-bitcoin-13th/

And here they are.

ETH is 1st. BTC 13th. Steem... 2nd?

This is almost as informative as those Weiss ratings which were going to transform the world, in return for a few hundred dollars to read them.

Next year's winner will be BCash, or better said BRoger, due to their massive upgrade very recently. 32MB block size is revolutionairy and very impressive when you can't even fill up your blocks with 100KB consistently. Cheesy

It's yet again a sign that the traditional market just sees what it wants to see and starts cherry picking based on that. I am glad that no one here gives one single fuck about these shitty ratings. It's impossible for anyone to tame Bitcoin. Bitcoin is the regulation taming governments and regulators with their shitty standards.

I also don't care about China to potentially re-enter the crypto market (not that they completely left anyway). It has never been a country that contributed to anything other than problems. It's a big market for sure, but what's that worth if you can't rely on it? I'm glad that mining farms there are looking into alternative locations to set up their operations. China shot itself in its foot.

For better or for worse, Bitcoin as it is today is not understood without China... what I mean is, the hashrate is simply too big within Chinese jurisdiction to fully ignore China.

If for some reason, the Chinese government decided to ban Bitcoin mining, it would have an impact on the price and generally on the network, so it's part of the fundamental analysis of Bitcoin. As long as this is the case, they are contributing to strengthening the network, even if the people behind the mining machines have probably malicious intentions (which proves Bitcoin is working as intended, that is, it's actors would have malicious intentions, but still end up supporting the system if they want to be part of it). Of course, these are private companies and not the Chinese government itself, unless one wants to subscribe to the conspiracy theory of Bitmain having ties within the government.

And here is the interesting observation: notice how China has banned a million exchanges and has made it hell in some cases to deal with Bitcoin and crypto in general, but also notice how China is yet to screw up Bitmain... as long as the Chinese government is not directly trying to screw up the Bitmain empire (while making it very difficult for their citizens to deal with Bitcoin) it is safe to assume that some sort of connection exists... such as, the government providing special electricity deals for the mining machines and in return they get a % of mined BTC to build a Bitcoin reserve. This is what any smart government should be doing anyway, specially when most of the mining is happening in your country.
1098  Alternate cryptocurrencies / Altcoin Discussion / Re: Which ALT coins can replace Bitcoin ? on: May 17, 2018, 03:53:36 AM
If you say that Ripple, of all shitcoins, can replace Bitcoin, then you are on Bitcoin for the wrong reasons and you will most likely end up making stupid decisions and losing money.

Bitcoin doesn't have value because it's fast, but because it's decentralized. Bitcoin is the ONLY decentralized cryptocurrency, the rest of altcoin simply aren't, and they survive insofar they are too small for an attacker to bother screwing up their networks.

There's simply not a single altcoin that can dethrone Bitcoin. The price against USD for an altcoin could be pumped to #1 in terms of marketcap but still this wouldn't mean anything, it would just mean someone printed fiat to pump, most likely, ETH or whatnot.
1099  Alternate cryptocurrencies / Altcoin Discussion / Re: Why usdt is stable?? on: May 17, 2018, 03:23:35 AM
Usdt is an erc-20 token based on eth platform, it was created to provide the much needed usd or fiat option in the market, although many analysts see it with suspicion but my personal experience with usdt trading has been fine.
This is really true and the usdt was created on the platform of ERC 20! Do not need to survive this is a really safe coin created for easy trading! Every experienced trader will tell you that this is a safe and popular coin!

No. Please, stop telling to people USDT is "safe". USDT is as safe as it it is safe to leave your coins in Poloniex, Coinbase, or any other exchange with the added risk of it being a "coin" that is a raid away from the Feds of plummeting to 0.

Basically if a government with enough resources decided to screw them up, they could freeze their bank accounts and then the USD resources for USDT would get confiscated or otherwise stopped, ending liquidity and therefore crashing the price. Unlike a true decentralized cryptocurrency like Bitcoin which would survive government attacks, USDT actually has "an office" which is a single of point of failure that has any savings kept on USDT at the constant risk of going to 0 the very moment this office gets a visit from an attacker. For now their method seems to be working, but I wouldn't count on it long term. For short term it's probably ok, but quickly go back to BTC when you do your trades.

Remember that even if you keep the USDT on some of these Ethereum multi token wallets, it's irrelevant for the token value going to 0 for reasons explained above.
1100  Alternate cryptocurrencies / Altcoin Discussion / Re: BCash fork on: May 17, 2018, 01:56:06 AM
Does this have anything to do with the 30bn sell off of EOS and Bitcoin Cash? Also, why would people buy bitcoin cash fork if there are no free tokens? Distribution seems iffy on this one

The dynamics of the hardforking events on price are rather strange and unpredictable.

Typically the argument was, "buy X token before Y hardfork, to get the equivalent of X token on the other chain after the split". Now this was supposed to be a clean hardfork without a surviving former chain. I have no idea if someone is mining "BCash-8MB" and if this will get listed somewhere.

But even without this happening, just the news that "X coin is having a hardfork" always brings headlines and headlines means speculators making decisions. Looks like it turned to be another "buy the rumor, sell the news event". The hype for BCash is over again.
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