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1061  Economy / Speculation / Re: The Declining of Bitcoin Price has also a Decline in Consumers Interest? on: September 29, 2018, 07:56:09 AM
"price" has always only attracted one type of people and nothing else. and that is speculators. in which case they do NOT care about whether price is rising or falling, they only care about making money and nowadays it is possible and also easy to make money from both rising price and falling price thanks to all the marginal trades and futures,...

"consumers" also care about the price but they mostly care about bitcoin and its functionality as a currency and that has only been improving despite some hiccups on the way which means the "consumer interest" should have continued to grow.
1062  Economy / Speculation / Re: I never held this much bitcoins. on: September 29, 2018, 06:26:02 AM
Your investment “strategy” has lots of odds of leading you to bankruptcy: acting on feelings, not diversifying... That’s what basic investment principles tell you not to do. At least you are buying the dip, and not the ath.

haha i think warren buffet is a good investor. his investment tactics. but he is against tech stocks but he likes apple stocks. he hates bitcoin as a currency. some ppl are good at what they do.

you don't know that! all you know is that Warren Buffet has talked against bitcoin. that is all. other than that Warren may be one of the biggest bitcoin owners in the whole world who has been silently accumulating bitcoin in other words dumping his fiat for bitcoin and all this "negative talk" might have been in order to keep the price down as long as possible so he can convert more of his fiat to bitcoin without anybody noticing. you know you can't do off-the-market perchance of large quantitates in one go as millionaires do. so you have to break it  down into chunks and that will take a long time.
1063  Bitcoin / Bitcoin Discussion / Re: Hold On for Dear Life on: September 29, 2018, 05:38:11 AM
Investors who put their money in digital currencies like Bitcoin must be patient to face the fact that the latest trends show a decline in cryptocurrency values. Even so, this does not necessarily make Bitcoin owners panic and rashly release all of its assets in digital currency.
WRONG.
an investor must know what he is doing. "having patient" is a dumb suggestion that newbies who don't understand the market dynamic give each other to put some band aid on their wounds caused by their bad decisions such as investing in shitcoins that got dumped on them.
what you need is "knowledge and experience" not "patience".

Quote
Increasing and decreasing markets are reasonable because they prove that the market has many fans and the market is very active.
it depends on the market and the type of rise and falls.
if you are talking about bitcoin and the rallies and corrections then what you say makes sense but you seem to be mentioning bitcoin but you are talking about all cryptocurrencies at the same time which is WRONG again. altcoins and their pump and dumps have nothing to do with rise and falls and the only thing that proves is that there is manipulation there and should be avoided specially by newcomers.
1064  Bitcoin / Bitcoin Discussion / Re: Satoshi. What did he found to create something like bitcoin? on: September 29, 2018, 05:14:31 AM
Does anybody know that who found the fire? who found the wheel? No, but the history were changed by those inventions.

As I believe, Bitcoin also something that is reason to change the history, that's why the inventor is unknown.

well you can't compare these two! in year 1 people weren't concerned with writing down the history and preserving it as much as today. and even if they did, they did it with their paintings on the cave walls. so we may already know who invented the fire but we don't understand the language!
not knowing Satoshi's identity is not because of lack of means, it is intentional and by choice.
1065  Economy / Speculation / Re: I never held this much bitcoins. on: September 29, 2018, 05:08:37 AM
At one point I had shares of stock after bch went down from 1200$.

the word is "token" not "stock". you had BCH tokens that you sold for bitcoin.

I am going to live up to the McAfee hype and going for the 1 mil in 2020. Waiting for the bitcoins halving in 2020. I'm guessing 300k is on the horizon.

first of all you should never listen or follow the hype. specially by people like McAfee who are doing it for profit they gain in short term and don't care about the long term of bitcoin.
secondly bitcoin is not a buy some and get  rich quick scheme. it is a currency. try to learn more about it. I promise you won't be disappointed if you past the fiat profit.
1066  Bitcoin / Bitcoin Discussion / Re: Do you mine or do you bake? on: September 29, 2018, 04:59:53 AM
in the cryptocurrency world, "different" has never meant "better".
so far we have "different" altcoins that are different from bitcoin but that doesn't make them better. and the fact that you made some more money from mining (baking?!) one of them doesn't mean it is a good idea to use it and it certainly doesn't mean that things will remain like this. in fact most coins with a design like this will be declining in value in the long run.
1067  Bitcoin / Bitcoin Discussion / Re: An open letter to the community, from the developers of Breadwallet on: September 29, 2018, 03:29:04 AM
there is no difference between the keys that you are storing. you are still storing the same private key when it comes to cold storage.

The difference comes when you redeem the paper wallet. 1x address will surely work with all the software and you can surely send the money everywhere you want.
And as a bonus, you can also get money for a beer from the various forks.

yeah, if you are talking about convenience it is somewhat correct since the best wallets such as Electrum and Core are already supporting it. and if it is the possible monetary benefits such as forks then again somewhat right since these forks aren't happening anymore and usually after a couple of them, the value of new one is not high enough to make you bother claiming them.
but if we are talking about security, then there is no difference.

Quote
you can even use the same tools such as bitaddress.org to generate the private key then get the public key and then very easily convert that public key (which will be 100% safe since it is public key not private key) to a bech32 address.

This is interesting and I didn't know, I will study this.

the steps are even the same. private key is the same, public key is the same, the functions you do on public key is the same (sha256 then ripmd160) then the different step is after that. if you encode this result with base58 you will get an address with 1, if you encode it with bech32 you get an address with bc1. and you can convert these to each other.
but receiving funds in them is not the same, you will need a different transaction to spend them.
1068  Alternate cryptocurrencies / Altcoin Discussion / Re: Stablecoins may help cryptocurrencies achieve world domination... on: September 28, 2018, 01:41:41 PM
I don't agree with you. I think stable coins are useless. We can trade if let us with fiat! OK stables are quite simple and has some advantages. But absouletly they are not indispensable.

They are indeed useless, we do not need them. f*ck stablecoins  Cool

they are NOT useless but they are not as good as some people think they are. if they were useless then volume of altcoins such as Tether (USDT) wouldn't have been this high. so there is a use case for them and a demand that they do exist.
but they are still terrible and do not belong in this world because they are centralized! at least so far all the stable coins that I have seen have been suffering from the same issues of centralization which is in defiance of this ecosystem which was built with decentralization in mind.

basically suing these coins means we took the power from banks then gave it up to another centralized company!
1069  Other / Beginners & Help / Re: Bitcoin scams on: September 28, 2018, 01:14:21 PM
Just read this article, a nice piece about Bitcoin scams with an example - http://cryptofinance24.com/how-not-to-scam-people-p428-171.htm
The example story about one scam there is just hilarious. The scam is so bad, but people still fall for it  Huh Huh Huh

So, have you ever got scammed, or know some good stories to share with others to help them learn from others mistakes?

I think 60% of the users on this forum has been scammed at least once. I have seen lot of scams in the casino environment, when is about get money people can be really creative.

I have been scammed by users asking for loans and then running away, and i have been scammed by casinos who decide to keep my money and block my withdrawals.

Some years ago the biggest bitcoin scams was based on Ponzi, now days we don't see much ponzi, but we see lot of ICO's ending in scam. So, let's play it smart and be careful.

yeah but depending on the category  of a particular scam the number of people that fall under that category may be very small. for example the obvious Ponzi schemes only take newbies as victims not the others. so this category only affects the newbie category of people and has a high percentage there. but overall it doesn't have high stats.
another category can be the exchange scams where they take your money and run. this has affected all kinds of people. basically whoever used an exchange has a bad experience in his history if he has been around for a while.
1070  Bitcoin / Bitcoin Discussion / Re: Why Bitcoin will be the safest investment on: September 28, 2018, 01:10:46 PM
I want to swim against the stream, by saying that Bitcoin is not a safe investment. In actual fact, Bitcoin is a high risk investment and people should never invest more than what they are willing to lose. I still see Bitcoin as a young technology in the experimental phases and people should be wary about that.

We do not know if the scaling solutions will work and if the mining will stay sustainable and if competition will dethrone Bitcoin. So, until Bitcoin has matured, keep a open mind and tread cautiously.  Wink  <Do not Sell your house to buy bitcoins>

I think the consensus among all those who have basic understanding of bitcoin is that it is not the safest investment although it has a lot of potential. and as for the risks, the risk of "competition dethroning" is zero because what you call competition either is a shitcoin that is only in the news because it was pumped or if it is a good project it still suffers from the same flaws as bitcoin does and in some cases it even has more flaws.
1071  Economy / Speculation / Re: Why do people keep saying bitcoin is disappearing? on: September 27, 2018, 11:53:40 AM
based on what I have seen in the past couple of years it is mostly because they bought bitcoin at some price (it  doesn't really matter what price) then after a while price didn't act as they wanted to. for example someone might have bought bitcoin last year at $3500 and expected the price to be $50000 by now since some idiot told him online and since it is not and it is $6500 they think it is dying, disappearing or ... of course a big part of it is due to FUD that has always been circulating online in bitcoin related circles.
1072  Economy / Speculation / Re: When will the price of Bitcoin break below the $6,000 support level? on: September 27, 2018, 11:18:36 AM
the correct answer is even if by some chance bitcoin price did go below $6000 you wouldn't be able to know it now because based on things that you can see and know and analyze right now the conclusion you can make is that it is not going to happen.
even the charts show the accumulation phase going on instead of anything else. and bitcoin's unique unpredictability makes it so.
1073  Bitcoin / Bitcoin Discussion / Re: An open letter to the community, from the developers of Breadwallet on: September 27, 2018, 09:04:49 AM
(And yes, old 1x are still the proper way for cold storage or paper wallets. Safety 1st.)

wrong.
the proper way for cold storage is still (1) creating a private key offline on a clean computer with a legit software (2) printing that private key in a right way as in not leaving traces on printer memory, possibly encrypting the key, laminating the paper for endurance (3) storing multiple copies.

the address is only the type of output that was created. there is no difference between the keys that you are storing. you are still storing the same private key when it comes to cold storage.

you can even use the same tools such as bitaddress.org to generate the private key then get the public key and then very easily convert that public key (which will be 100% safe since it is public key not private key) to a bech32 address.
1074  Bitcoin / Bitcoin Discussion / Re: Do bitcoin debit cards help with scalability for now? on: September 27, 2018, 07:03:18 AM
all the fuss for the past 9 years have been because we wanted to build a decentralized payment system that doesn't require any kind of third party. in short some people name it "be your own bank". which means in my opinion any method that will require third parties (such as Coinbase and debit card issuers) is not bitcoin and why would you even want to use them instead of using banks? if you are ok with a third party and the fact that you will rely on them then continue using regular debit cards and regular banks instead of bitcoin debit cards and coinbase-bank so that you are not even facing the volatility of bitcoin.
1075  Bitcoin / Bitcoin Discussion / Re: Google lifts Crypto-Currency Add Ban! on: September 27, 2018, 06:49:33 AM
I read that article and the conclusion is google will manage crypto ads, and there is no word who said regulate the system that is on cryptocurrency. And I guess it was good news for cryptocurrency industry, as what someone said before, that way can reduce fraud or even eradicate it. This method is very important because it will have a positive impact on new users or investors.

the only thing that this will do is to prevent scams like ICOs to be able to use google ads to find their victims otherwise it will do nothing to reduce them. they will continue to happen for as long as there are newbies who are willing to participate in their scams. and this has been going on for a long time, even before the ICOs were created and started using Google ads to promote their crap.
1076  Bitcoin / Bitcoin Discussion / Re: An open letter to the community, from the developers of Breadwallet on: September 27, 2018, 06:31:06 AM
Quote
also the data efficiency of transactions to bytes is not efficient using segwit
segwit signatures are 82bytes instead of 72
segwit addresses are a few bytes longer too

Start a topic in development and technical discussion. I want to see you debate with the real developers.

this part at least is not something you need a developer to debate! it is easy and very obvious. he is correct. SegWit transactions add extra bytes to the transactions for the 00 flag, the size of witness at the end,... you can check a SegWit transaction yourself and see. but the problem with that comment is that it is only focusing on one part and that being the size of a tx. and the difference however is not that big!

SegWit was never meant for scaling alone. SegWit was meant to do multiple things such as fixing malleability problem and in addition to that it was meant to increase capacity with a soft fork maintaining backward compatibility so we don't need to hard fork.
then that malleability fix can open up room for other development such as a much more secure LN on top of bitcoin.
1077  Bitcoin / Bitcoin Discussion / Re: Is anonymity the future for bitcoin??? on: September 27, 2018, 06:25:37 AM
It seems that it is no longer anonymous, bitcoin is gone or discarded can be tracked, so this is not for the future anymore.
Everyone who throws crypto can be tracked so that this doesn't seem to be arbitrary, even though most of them want their investments to be exchanged to have more functions.

how anonymous bitcoin is has not changed compared to day 1. it is still the same as it has always been. pseduanonymous! in other words bitcoin is not completely anonymous but if anything it is more anonymous now that it was before since now there are more people using it and there are lots of transactions happening compared to before being 1 transaction and small number of users Cheesy
1078  Bitcoin / Bitcoin Discussion / Re: Adoption is rising: The Amount of Bitcoin in Active Wallets Is Near Record Highs on: September 25, 2018, 10:58:54 AM
To be sure, bitcoin is still predominantly held as an inactive investment, whether custodied by an institution or individual, with 6.3 billion held in accounts that had no activity in over a year, according to Chainalysis data.

Wait, 6.3 billion what? US Dollars? Weren't people always taught to include units as a kid lol.

There's one thing that aligns with my observations though:

Quote
Whether bitcoin users are transacting with personal wallets or exchange accounts, Chainalysis economist Kimberly Grauer said the monetary aggregates for these categories have stabilized, suggesting news articles don't spur as much dramatic trading activity as they did last year.

Either way, we obviously can't trust the actual numbers' precision, but I feel like if there's anyone who's qualified to come up with numbers like this, Chainanalysis is. I'm quite inclined to believe them.

sometimes these articles have a purpose of advertising a certain service though. I am not saying t his is the case for sure but it certainly looks like it as there is no other reason for doing such analysis in first place. and the results of it are somewhat predictable. in other words you could have guessed that bitcoin adoption has been increasing and with it obviously there will be more distribution hence less coins in one address/wallet.
no to mention that two major events led to a lot of  funds moving around: 1. the ATH which makes anyone sell at least something. 2. the dozens of bitcoin forks which were practically free money giveaway and people moved funds around hence the more transactions
1079  Bitcoin / Bitcoin Discussion / Re: It Takes 9343$ to mine one bitcoin, so no way i am selling it below 12000$ on: September 25, 2018, 10:18:17 AM
with all things said and done, it will not matter at all what the real cost of mining bitcoin is. it may be $1 or it may be $100K.
when you are speculating about price you should see what the market thinks. sometimes when speculators start believing in something they eventually also end up acting on it. for example people think because of halving the supply reduces (the world "half" maybe!) so the price should go up! but the reality is that halving has nothing to do with reduction of supply, the supply is continuing to grow. the price rise has always been the product of increasing demand and limit that max supply has. everything else is short term and hype-based.
mining cost has been the same. many speculate cost is about $6k which is one of the many reasons $6k has been a strong buy support.
1080  Bitcoin / Bitcoin Discussion / Re: When people say Bitcoin is dead, make sure to show them this... on: September 25, 2018, 10:07:24 AM
no offense but YOU are worst that those who are calling bitcoin dead because what they do is that they are either expressing their opinion or have some agenda against bitcoin. but YOU are killing bitcoin with your own hand as you are advertising bitcoin as something that only gains value and gives you profit whereas profit (price of bitcoin) should be the last thing that you mention to someone else when you talk about altcoin and it should certainly be the last reason why YOU are involved with bitcoin.
profit making is a part of having bitcoin but having it as your only goal is wrong.
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