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401  Bitcoin / Bitcoin Discussion / Re: BTC currency unit is too complicated to accepted widely. on: November 14, 2018, 03:06:37 AM
nothing about bitcoin is complicated unless you want to make it complicated for yourself. the case of decimals and number of zeros is exactly like the case of saying they don't understand how bitcoin works.

nowadays people don't even want to understand how things work, they are only using them. it is the consumerism at its best and you can't do anything about it. for instance when buying something you don't care if it has no zeros or hundred zeros in front of it, you don't also care how bitcoin works you just point your phone at that picture which you may not even know is called a QR code and click confirm and make the payment. or if you are on PC then you just click on a link and the payment happens after you confirm it in your wallet.

There are already a lot of apps in development for the lightning network, very easy to use wallets in which you scan a QR code and that's all. As a matter of fact someone made a very cool coke dispenser which works on the LN mainnet:

https://www.youtube.com/watch?v=2Fb6Xww2P7c

There's also others with coffee and whatnot.

But the conversation here is the unit of value being too high compared to what people is used to ($1, 1 or whatever local currency you have). And yes people obviously care about number of 0's when buying stuff. This is only solved with time. BTC must become the unit of account so people think in terms of BTC and not in fiat. Until then the price fluctuation will be there. The good news is you can get very rich by holding since it's already a better gold.
402  Bitcoin / Bitcoin Discussion / Re: $20 Trillion US Debt Will Inevitably Lead to Big Crypto Boom on: November 14, 2018, 02:54:23 AM
unfortunately i can not see any kind of "crypto" boom in our near future because the "cryptos" are mostly pump and dumps and you can not expect any kind of real booms from any of them.
the pumps can only take the price so high before it busts and the coin gets dumped hard. as you can see from the market of this year as the altcoins continue getting dumped to this day.

bitcoin is another matter. the US economy might collapse and we start seeing some economy crisis and in that case bitcoin may start shining and increases its price.

Of course altcoins are nonsense and will not play a major role may the US collapse (which it definitely should on our lifetimes assuming you are around age 60... since it should happen within the next 20).

Some theorize that Bitcoin was created by US intelligence or some other big party (your pick here... Israel, Rothchilds, anyone big you like) in order to avoid the fiat collapse and have a neutral safe haven that allows for seamless movements in the information age (so gold doesn't cut it). I find it ironic that there's $21 trillion in debt and 21 million Bitcoin total... it's like a perfect storm for $1,000,000 BTC.
403  Bitcoin / Bitcoin Discussion / Re: Bitcoin was made by CIA or NSA on: November 14, 2018, 02:44:59 AM
@QuestionAuthority You're right about cryptography and other tech stuff being useful for us.

But about Bitcoin, i feel it's something controlled by the gov, in that they they can:

- plug it off whenever they want, for the reasons i outlined at the end of my first post

- control its price via centralized exchanges like Bitstamp, Coinbase, etc. That's one of the things Natalya Kaspersky said

So i don't see BTC as a tool for monetary freedom anymore, as i used to do.
BTC is not value that is fully in our hands like gold/silver are.

It may be fun and useful for speculators and the many crypto-based applications that are coming out, for sure.

But it is not as "rebellious" against the monetary sovereignty as i thought it to be.

You do know that bitcoin is open source, right? Not just the wallet software but also the protocol that controls the network.

I agree with the fact that the US Government/Army department and overall Intelligence has create some powerful tools that are now helping freedom of speech, such as Tor, and even some privacy based OS like Tails based on Tor. Thanks to these we have people like Julian Assange and Edward Snowden leaking disgraceful things that governments do and we can be safe at least on the code side since it's open source.

However you are omitting a small detail with Bitcoin... If the NSA really created it, then it must mean that they have 1 million BTC (since they would be satoshi basically). This is the first ever the creator matters because the creator got a fuckton of the "share" of the open source project.

The good news is Bitcoin is now big enough to deal with it ad it continues being a tool of freedom. The NSA having 1 million coins just means they are big players in the game and have skin on it, but you can't deny that they influence things if they put some agent to act as satoshi and then start moving some coins to brainwash the masses into a fork when they lose control of the way the project is developing (as a theory, see Craig Wright being a NSA agent for instance, even if thus far he is just a conman)
404  Bitcoin / Bitcoin Discussion / Re: Bitcoin Core 0.17.0 Released on: November 12, 2018, 07:09:24 PM
I can not using latest version. Can you guide me?

What is the problem?

Try deleting the entire /Bitcoin folder but first make a backup of your wallet.dat and also save the files on the "blocks" folder so you don't have to download everything from scratch. But before doing this, first uninstall it as you would uninstall any other thing in Windows. Then on %appdata% data folder, find Bitcoin, do the backups and delete the folder, then install 0.17.0 and check that the SHA256 checksum matches with the one on the site:

https://bitcoincore.org/bin/bitcoin-core-0.17.0.1/SHA256SUMS.asc

Open this on a text editor and check the installer .exe file with 7zip for the SH256 hash which you can find on the windows menu when you install 7zip. This guarantees that you are installing a legit file.
405  Economy / Speculation / Re: ETF Will Kill Bitcoin For Good” Investors Express Skepticism on: November 12, 2018, 03:40:23 PM
i agree with that random dude on reddit which was quoted here. ETF can be one of the worst things that can happen to bitcoin specially now that bitcoin is still young.

Can you give examples on how the ETF and bitcoin derivatives markets can be bad? Market derivatives also did not prevent gold from growing to a $7 trillion market. It might have helped it, I reckon.

i generally dislike ETFs because they shouldn't even be a thing for a currency. it is like having USD ETF, or JPY ETF. they don't make sense and bitcoin as a currency should not have an ETF just like other currencies in the world don't have them.
but also i say they are a bad thing for bitcoin mostly because of the (more) market manipulation that it can bring to bitcoin.
also an Andreas Antonopoulos video https://www.youtube.com/watch?v=KSv0J4bfBCc&vl=en


I think most people don't consider bitcoin a currency, but some sort of asset, I think in japan is seen as a property. The point is, governments are going whatever they want about it.

If it's of any use, there is this chart comparative with bitcoin and gold when it introduced the ETF, it seems similar:




The ETF should be bullish because it's supposedly bitcoin settled, so they must buy BTC to meet contract obligations, whereas the futures contracts aren't backed by BTC so it was bearish.
406  Economy / Speculation / Re: ETF Will Kill Bitcoin For Good” Investors Express Skepticism on: November 11, 2018, 03:38:05 AM
The bottomline is that we cannot really control all these futures contracts, derivatives, and other government setups that they create around assets so people can access said assets through them. It's how it's always been, and it's it will always be, for as long as governments exist.

When an asset gets big enough, the demand for ETF will grow and it will eventually pass.

However with bitcoin is different. Gold and other assets didn't have it's own built-in system with capped inflation and a transparent immutable ledger. This is what makes bitcoin safe against phantom derivative government scams which they indeed use to manipulate prices.

On the long term hard money always win. 1 BTC = 1 BTC. The manipulation expressed in fiat is temporal noise. If you believe this is not the case and government issued money always wins, even under pressure of infinite growing debt, that's up to you to decide.
407  Economy / Speculation / Re: China on: November 11, 2018, 03:10:21 AM
I've got mixed feelings about this. I'll agree that the volume on Chinese exchanges was absurd and that price started trending up hard after they were shut down. But that could be coincidental.

More than possible but China did have some weird hold over traders from elsewhere.

When it costs you nothing to trade then that's quite radically opposed to how the rest of the market works and the behaviour will be different accordingly.

Throw in the stupidity of thinking a market is more authoritative because of its fake volume then you have a recipe for a deadlock that needed to be broken, and was.



It looks like China is not even relevant in Bitcoin anymore. I remember when they used to literally manipulate the market with all the PBOC press releases, it was clear in the graph when they released a new statement. I don't see this as clear anymore.

Last time I saw China tumbling down the price was with the ICO ban+exchange shutdown combo:



And still it recovered a while after.
408  Economy / Speculation / Re: CSW apparently will dump 1M Bitcoin to crash the Market on: November 11, 2018, 02:40:14 AM
CSW's supposed coins already got exposed by Wizsec, the whole thing seems extremely scammy. To me he is playing the role of a cult leader, trying to cater for the masses of sheep that need icons, in this case posing as satoshi. Here's Wizsec's work:



In any case, we'll find out of CSW is bluffing once again or not in the coming days. Mark November 15th in your calendar because apparently CSW will crush Jihan Wu's hashrate in BCash and will impose his chain. He also claimed that he will put Bitmain on bankruptcy.
409  Economy / Speculation / Re: Bitcoin less volatile than Standards & Poors. on: November 11, 2018, 02:21:12 AM
I think that the price is OK for the meantime and in my opinion in the coming impending holidays the price will surely change and decrease a bit it is my opinion regarding that time of the year were everyone is busy decorating and preparing for the feast.
I don't see much importance in holidays. I'm more curious about how tax sales are going to affect the market in January, especially with how we deal with more legal entities being active in this space than ever before.

It definitely won't be as bad as it was last year with how the price tanked in January and February, but there might be another test of the $5800 level in the worst case. Volatility will definitely boost in that scenario.

The easiest way to get people back to the market is to have the price dip under $6000 again, because that's what many believe to be the ultimate bottom. We'll see where it goes, but I'm open to anything and well prepared with a bunch of fiat to spend.

In December we'll have Bakkt, I believe we'll have a push around January which could level out potential sales to cover tax obligations.

Bakkt has got me excited since I learned that the contracts must be backed out by underlying asset (basically in this case it means there must always be bitcoin being bought and held ready, not just some empty promise). Assuming the platform starts getting volume quickly, I don't see how the price shouldn't start going up short after.
410  Economy / Speculation / Re: Bitcoin less volatile than Standards & Poors. on: November 10, 2018, 04:27:15 AM
fiat is more volatile than bitcoin

but fiat hides it well. but reality reveals itself
remember the good old days where a piece of land was $10k. now its like $50k-$1mill+)
remember a loaf of bread was 20cents then $2 then (walmart)'rolled back' then inflated again
remember when new york upstate minimum wage was the same as inner and outer city minimum wage.. oh wait.. its always different

(im a brit. dont knitpick exact numbers. just understand the concept of the whole inflation and also the consumer goods and minimum wages gameplay)

volatile and velocity are 2 different things
  /\
 /  \
/    \=velocity

/\/\/\=volitile

____=stable

try going shop to shop for bread or milk. nothings the exact same
try going house to house for rent/lease/mortgage. nothings the exact same
try going state to state for minimum wage. nothings the exact same

I think governments setup inflation rates in a way that the perception of time and lack of purchasing power of money is subtle enough that the average citizen thinks that the price is stable.

They know that with around $50 bucks you will be able to buy the average weekly expenses on the grocery store next week, because people think very short term, which is why most people missed and will keep on missing on bitcoin.

Specially young people have no perspective on this. Only older people are nostalgic about former purchasing power.
411  Economy / Speculation / Re: quick wins or trying to change things on: November 10, 2018, 04:15:40 AM
The money making part is linked to having a long term vision. Most people that wanted a quick buck have already sold. These guys will never get rich because they will keep getting triggered by the ups and downs of the price.

Few very early investors got rich by knowing what they had on their hands. A lot just mined it to buy weed on the darknet or something and lost the wallet and found it years later. Very few understood the fundamentals. From now on there is no excuse, there's enough info out there to understand bitcoin's fundamentals and why it is a must long term hold in any sound portfolio.

As far as changing the world goes... it already has changed the world. The fact that it's been 10 years and counting is pretty mindblowing. The world hasn't still assumed that you can now make transactions around the world without censorship which is why I think bitcoin has always been undervalued. The quick buckers are too busy trying to find bitcoin 2.0 to realize that.
412  Economy / Speculation / Re: Are logarithmic scales useless in deciding what bitcoins price will do? on: November 10, 2018, 03:52:09 AM
I think linear scales are useful to get a feel for the activities of the whales and the pumpers. Wicks combined with volume charts are another useful indicator. For long term investment, I think you can forget the charts, look at the news, and try to judge investment opinion.

I wouldn't even look at the news for long term investment, specially on an asset like bitcoin. There's endless bullshit on the press, and increasing at exponential rate now that bitcoin has grown. We have different media releasing different news about the same thing just like in the old world.

I would just focus on the tech and economic reality of bitcoin. My conclusion is that bitcoin is hard money, a better gold ready for the information age that has survived for 10 years with no downtime or failed tx's. The fundamentals are good and therefore there's no reason to not hold irrespective of what press is saying (including governments).
413  Other / Meta / Re: Recovering hacked account on: November 08, 2018, 05:12:38 AM
Another hacked account. I am wondering how these hackers do to hack an account. Is it really easy for them to do this? I can't Imagine why there are people like this who do like to hack accounts not only in BCT accounts. I can't believe why they do this when in fact they were smart and could earn money in an a good way. Well, what else should we do? Secure account with two way factor or change pass every other month maybe?


I would guess that they are getting access to the email accounts attached to the passwords. Most likely the emails attached to the accounts expire. Satoshi himself was victim of the disaster that is gmx. It's really bad. I've lost access to several gmx email accounts myself. It looks like there is a very short period of inactivity allowed before you risk it getting deleted. Then they could register the same account again and gain access.

Other possibility is database breach from either email or the forum itself.

The incentive to steal BCT accounts is obvious, they have value, specially ranked ones, because of the reputation they have, they usually use it for ICO's, bounties, advertising, and they can also sell it to someone else for BTC.

We really need a way to recover accounts soon. I hope theymos delivers on this somewhere next year.
414  Economy / Speculation / Re: Are logarithmic scales useless in deciding what bitcoins price will do? on: November 08, 2018, 04:25:44 AM
All competent technical analyists are using logarithmic charts these days. It's simply impossible to keep monitoring Bitcoin with a linear scale chart, you lose the sense of movement because of the huge ups and downs, your perspective is tricked like that. I still use the linear chart sometimes because it gives me a nice nostalgic feel of when the marketcap was smaller. I sometimes study the charts like that and look back at the first peaks and try to imagine how the people that was around back then would have reacted.

The strongest TA indicator nowadays for me is this channel (log chart of course)

415  Economy / Speculation / Re: How high do you think or hope bitcoin price to go up next year? on: November 08, 2018, 03:55:11 AM
When I look at the all time graph on a linear scale (even if at this point you shouldn't do this, since you should be using logarithmic, but whatever) I need to see the graph to flatten out for a longer period. Right now is too premature for me to claim that we are going to start going up FOMO mode like on last x-mas. I would prefer that we have a boring 2019 similar to 2015 period, the last chance ever to accumulate on cheap sub-5figure coins in dollar terms, because after the next bubble everyone that doesn't accumulate will be suicidal at not buying at sub $10k prices.

I expect the next peak to dwarf the former one as usual. When you look at the bitcoin history you can start feeling these 3-year cycles and it's always the same, with noobs coming during the FOMO and noobs leaving during accumulation phase.

Then again who is to say that BAKKT doesn't blow everyone's mind this december and we go to $50k or something.
416  Bitcoin / Bitcoin Discussion / Re: Need bitcoin control? on: November 07, 2018, 04:12:06 AM
The up and coming destruction of physical cash and introduction of closed source government issued cryptocurrency will be the perfect catalyst for bitcoin, as it will make a strong case in why it has value, hopefully it will become increasingly obvious for the average joe.

Banning of physical cash will be great news since people will be forced to get into crypto and bitcoin has #1 security.
417  Economy / Speculation / Re: Global 5 bubbles will transfer 150bn to top 500 on: November 07, 2018, 03:10:22 AM
The way I see a thesis like yours is a lack of understanding of Pareto law distributions and lack of security on altcoins.

Everyone that can afford it will go into Bitcoin and the rest will go for the scraps, may the full blocks scenario happen again. At the end of the day the other coins don't suffer from these problems because they don't have to deal with a bunch of transactions (and if they did they would get exposed). There isn't any sound technology that scales without tradeofs, none of them justify moving your BTC into alts, because you are trading security in the process (maybe someone finds giving up on some security in order to trade fast and cheap worth it, but at that point why not just use LN for smaller transactions)

Give me something as secure as Bitcoin that scales to mainstream worldwide levels for the masses and I will sell all of my BTC for it (hint: such coin doesn't exist)
418  Other / Meta / Re: Account hacked/blocked ... No answer from theymos or Cyrus on: November 07, 2018, 02:48:17 AM
No one here to help me unblock my main account?

There's nothing you can do realistically. Theymos and cyrus just refuse to hire some people to do the job for some reason, so the only hope left is that theymos delivers eventually the so called automated system to give everyone a fair chance to recover their accounts.

Anyone that has cryptographic proof (posted a BTC address before the hack in an unedited post) should be able to recover the account automatically without any further wait. The difficult part for me would be to automate the script into knowing if the post is or isn't unedited or detecting that it's a valid quote by someone else. But it should be able to be done and once fine tuned it should work. That will be one of the most important additions to the forum and hopefully the massive backlog is finally cleaned.

Thanks mate.
I'm one of the main developers of nvOC Community Release and my BTC address is available in 1bash (nvOC main setting file)

Posted the signed message here and PM to Theymos and cyrus,
Hopefully they will unblock my account some day...

Im not sure if anything that isn't stricly an address posted here within a forum post in an unedited or quoted post will do tho. But if you are someone known within a project you may be able to arrange something with theymos and cyrus but the automated system may only work within addresses posted here I assume.

bitcointalk should re-visit its security system for sure.

First I got an email that my password is successfully changed
then in 1 minute another email that my email is successfully changed and if its not me that changed it, I can block my account and recover it in 2 weeks with the provided link.

Both emails should have a link to confirm or undo if its not you not to block your account and wait months for recovering it.

So I blocked my account and here I am 6 months later ...




Yeah that system only works to stop people from posting with your account, that's the idea, but then you are still stuck without recovering it.
419  Alternate cryptocurrencies / Altcoin Discussion / Re: Is Stable Token the key to mass adoption? on: November 03, 2018, 08:37:31 PM
Stability can only occur in a balance ecosystem. Fluctuation occurs when it is not. Stable coin pegged to a fiat currency need to be recognized by mass adoption that it serve the same function. Alipay and wepay are both in a way stable coins, issuing a token pegged to rmb where you can only use within their ecosystem. But if the coin is stable, what is the draw to investors and the value added to users, as compared to fiat currency. A coin cannot be both speculative and stable. I believe the only way is through dual token mechanism. What do you think?

PS: we have engineer and come out with our ICO based on this.
https://veritag.org/
https://t.me/veriHUB

In my vision stable coin is something that should be regulated otherwise it will not be stable. We have a perfect example of coin that gained thousands of percents depending on supply and demand model. If such stable coin will have high supply and low demand someone will need to correct the demand with his resources. And this is clear regulation. But how can crypto be regulated - I can't see that co-existing of governments+banks with cryptocurrencies is possible in current state of affairs Undecided

It's simply impossible to regulate the price of a cryptocurrency that claims to be decentralized. If you try to regulated it, it means someone has power over the price. You could perhaps try to automate this process with smart contracts using several exchanges to spread point of failure, however it's an huge risk, it would definitely not be a store of value.

What we need for mass adoption is that people see a true necessity for it. People that can do groceries and regular buying with their government fiat isn't going to be too interested. But all fiats are doomed long term due infinite debt nightmare, so eventually everyone will take a serious look at bitcoin.

The end goal is that bitcoin becomes the global reserve currency because it meets the demands of a big part of the economy and thus it naturally becomes more stable when the marketcap is worth trillions or even quadrillions of former dollars.
420  Other / Meta / Re: Account hacked/blocked ... No answer from theymos or Cyrus on: November 03, 2018, 07:55:10 PM
No one here to help me unblock my main account?

There's nothing you can do realistically. Theymos and cyrus just refuse to hire some people to do the job for some reason, so the only hope left is that theymos delivers eventually the so called automated system to give everyone a fair chance to recover their accounts.

Anyone that has cryptographic proof (posted a BTC address before the hack in an unedited post) should be able to recover the account automatically without any further wait. The difficult part for me would be to automate the script into knowing if the post is or isn't unedited or detecting that it's a valid quote by someone else. But it should be able to be done and once fine tuned it should work. That will be one of the most important additions to the forum and hopefully the massive backlog is finally cleaned.
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