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1281  Bitcoin / Bitcoin Discussion / Re: Bitcoin transaction fees on: October 23, 2017, 01:28:31 PM
Bitcoin transaction fees have become very high for micro payments, is this means bitcoin will never make it to mainstream mass market?

The Bitcoin fees will probably make it not useful for small payments or micropayments. You won’t be able to buy a cup of coffee or a meal at McDonald’s with Bitcoins. I think the niche for Bitcoin will be as a store of value or a way to send money over long distances quickly. I could also see Bitcoin used for major purchases like for houses or cars.

This limitation for Bitcoin opens the door for altcoins to be used for everyday purchases and other small transactions. So I think we will see several cryptocurrencies that will be used for various functions.
Or, if some new features like the lightning network or something gets implemented and let people to pay the small amounts in bitcoin too, without worrying about the fee. Today the fees are a bit lower, the highest was after the BCH fork and the miners were hopping on and off from the BTC and BCH chains. Or, it's possible that we'll use bitcoin like gold in the ancient times and we'll have another alt like silver was for small purchases. (E.g. litecoin or ETH, etc...)
1282  Bitcoin / Bitcoin Discussion / Re: IMF response about Bitcoin on: October 23, 2017, 01:14:20 PM
The IMF (International Monetary Fund) said a few days ago that bitcoin is very dangerous because it can disrupt global financial stability. What do you think about the IMF's response ?

I think the is right, it can disrupt it but I don't think in a dangerous way. I think its the other way around, bitcoin will disrupt it in a positive way. Look at how it affect the lives of others, specially third based country, we found bitcoin as other way to earn money. They don't want it because their business of giving loans to third world country will diminished, that's why we see another entity attacking bitcoin because they are being threaten. And besides, they have not business whatsoever to attack something they don't believed or fully understand.
They are afraid that they are afraid of losing their influence. Their influence gives their power and that's generates profit for them, so they're afraid about losing their money at the end. They have too many people in very good jobs and if bitcoin becomes widesread, a lot of things change and that will cause them problems. If bitcoin becomes an accepted method of payment in the third world, monetary systems will face serious problems. They want to stop this this is why they speak of bitcoin in negative terms.
1283  Bitcoin / Bitcoin Discussion / Re: Minimum fee to transfer bitcoin on: October 23, 2017, 01:03:53 PM
Hi, some of my BTC are on Armory on my old computer.

I want to move those bitcoin to my new computer on Exodus this time (I don't want to run a node on my new computer).

The fees to make the transfer are 0.005848 which is way too high for transferring money from one pocket to another.

What is the cheapest way to move bitcoin from a wallet to another wallet?

Thanks!


usually I spend 0.0003xxxx btc for the fees. I think you can set the fees in the setting in your armorey wallet. but I think if you want to move more than 1 btc from your armory to another wallet, then its no problem if you have to pay the fee 0.005848 btc and I think its still cheap for you because you want to move more than 1 btc.  but if you want to move less than 0.1 btc and your fees is more than 0.001xxx btc then you might have to check in your setting wallet.

If you decide to send the coins with really low fee settings, you can try an accelerator to get your transaction confirmed sooner.
https://pool.viabtc.com/tools/txaccelerator/
This it the ViaBTC accelerator, every full hour you can send your low fee transaction to get it included into the very next block. Just be very sharp, only the first few transactions are included, if you miss it, you need to wait another hour to try.
1284  Bitcoin / Bitcoin Discussion / Re: Blockchain Diploma on: October 23, 2017, 12:54:53 PM
What are the requirements you need to received a blockchain diploma?   And how can you avail of it?
Would you please link something to that diploma you are talking about? I'm curious about that, but of course it's possible that's a new kind of scam that used to rip off people some money. Blockchain is not yet an official subject on any university
1285  Bitcoin / Bitcoin Discussion / Re: Can we get Bitcoin Gold if my BTC is in paper wallet? on: October 23, 2017, 12:36:13 PM
edit: this fork just gets more and more funny
https://github.com/BTCGPU/BTCGPU/pull/62 26 minutes ago. is this the last minute fork or what, nothing seems to be ready for this fork Cheesy
there are still compile errors too!

it's in a couple of days and they're still having conversations like this?

i think people are gonna feel like assholes when this fork turns out to be a junk non event and they bid up bitcoin for nothing.
Well, at least, they have pumped up BTC price with the high demand, caused by the rush for BTC to get the BTG after the fork... Poor alts, they're suffering, but at least, we can buy them back cheaper in the very minute the fork has happened and people has not started to diversify their BTC again into the alts
To be on topic: The above mentioned advices should stand for all the forks, despite of the new alts has replay protection or not, just to be on the safe side.
1286  Bitcoin / Bitcoin Discussion / Re: Why Does The Bitcoin Price Move So Much? on: October 23, 2017, 12:14:09 PM
Bitcoin is like any other currency available for trading it knows pumps and dumps, you can predict its value for a long term if it is going to succeed or not but in the meanwhile you can never know what will happen in short term due to many factors involved in determining and affecting the value.
After taking a good look at charts and expert analysis and the contradiction between their analysis, I started to believe that it is a question of faith, you believe in Bitcoin or you do not.
It's really a question of faith, if you belive in bitcoin, you look at a price fall as a correction before the next raise that will push the price even higher than before. If you don't belive in bitcoin, you look every raise in price that it's the end of the bull and bear will start immediately. But it's the same if you have shares in the real world. Everything is based on your expectations (faith).
1287  Bitcoin / Bitcoin Discussion / Re: Friend gives wallet seed to stranger and bitcoins disappear from his wallet on: October 23, 2017, 12:04:41 PM

A Police report has been filed, and a description of the person, a stranger has been given to them. The bar is cooperating. There were surveillance cameras so they may be able to identify the guy, or not. regardless, it may be difficult to get the coins back.
Just be careful... 2.6 BTC is a really high amount of money in fiat. If he has just exchanged his life savings to bitcoin some weeks before, than it won't be a problem, but if he collected the bitcoins over the years (when it has much less value), it could generate a problem (taxes). Police will start to investigate where the bitcoins went, but after, they will hand over the whole thing to the tax authorities, to investigate where that amount of money came from... so be really careful
My opinion is that starting a police investigation was maybe a wrong way (but obviously the only legal way). If the surveillance cameras took photo about the stranger, it would be wiser to start a private investigation instead. But I hope I'll be wrong at the end. Fingers crossed, keep us updated please
1288  Bitcoin / Bitcoin Discussion / Re: Is it a Bitcoin web developer's goal to create ugly website? on: October 23, 2017, 11:52:53 AM
Haha we're in 2017 and nothing changed  Shocked Grin
Something has changed already, we have wordpress and other website builder systems that allow you to set up a decent web page in an hour. What we really need is to create educative websites about bitcoin and send there a lot of people to learn about bitcoin and that will help the mass adoption... Just don't forget to be user friendly and easily understandable
1289  Bitcoin / Bitcoin Discussion / Re: John Hathaway's summary: Bitcoin is Garbage on: October 23, 2017, 10:57:11 AM
I love it when these experts come up with a fundamental analyzis on something they don't understand: 'Garbage!'
They let even the average sig spammer look so damn smart....
I guess these dinosaurs are heading to extinction.

https://www.youtube.com/watch?v=UBgQqqvqKKM


Guess he had no success in cracking a SHA256 hash or he's just jealous about the early investors who became millionaires. Either ways, another attempt at spreading FUD to manipulate the price of Bitcoin with minimal effort, I'm already getting tired of these silly nitwits not using their brain to realise the reality. On the brighter side of things, the world will get to know what sort of a fool the person is.
The world will not care about he is fool or not, it's just his 15 minutes (fame) about bitcoin. There's no need to react on that. As long as these people are in the news and they are telling their thoughts via the TV and youtube, a lot of people will listen to them and belive them. Only a really small % of the people will read about the subject and think about the real situation. As long as people belive everything that is shown on TV and on facebook, we can do nearly nothing against it. Maybe if people got educated about bitcoin it could change, but that's not the near future...
1290  Bitcoin / Bitcoin Discussion / Re: Legalization bitcoin on: October 23, 2017, 09:17:55 AM
legalization of bitcoin is coming but its very soon from now cause there's a country dont want to accept bitcoin because they think bitcoin is scam
because they do not know all about bitcoin so they think that bitcoin is a scam, it seems to me that only people who have little insight are easy to conclude on this point.
The governments' reactions are understandable because they just want to protect their economy and their people. Most of the average joes has no clue about bitcoin (and about shares, commodities, derivatives, forwards, options etc...) They know about cash and credit card and that's all. If they start to buy bitcoin, because of the hype at $6,000 and after the first upcoming correction they panic sell it at $4,000, they will complain to the government why it was allowed to buy bitcoin.... this is only the first aspect.
The second is, governments and tax authorities can't really follow the payment chain when bitcoin is used as the method of the payment. They prefer the bank transfer, which they can trace easily. Using cash above the sum of $1.000 is also banned in most of the countries in the EU (or something similar, to prevent money laundry). It's not easy to move large sum of money in cash. If people/companies moves it via bank transfer, it's traceable. But it's easy to move a large amount of money if it's in bitcoin, and thats a pain for the tax authorities, because they're not prepared to track it yet, so they won't allow it's usage as long as they find something that can help them to deal with bitcoin transfers. Maybe it's not illegal to pay with bitcoin, but a shop or a store can't accept payment in bitcoin, because they can't legally account the income in their ledgers. Incomes which are not taxable are not good for the economy/government, this is why central banks are against bitcoin at the moment...
1291  Economy / Speculation / Re: Selling Bitcoin on: October 22, 2017, 09:13:35 AM
That's a good strategy but unfortunately most of people here have a weak hands and when they start seeing big whales selling of their coins, they start to panic sell and that will makes Bitcoin price down even more. But I'm not affected by this because I'm sure that Bitcoin will surpass $10k mark in a few years.
Nobody can be sure if it will be $10k or not although the signs are pointing to that direction yet. I'm just wondering what if governments start to ban (not to regulate) the usage of bitcoin. They have no other chance to protect their economic system from the effects of bitcoin. In that case people will start to sell their bitcoin massively and they won't consider to buy it back later on. Only a few of them will start to search for solutions to be able to use bitcoin in the future, most of the people will give it up. It's not the most possible scenario for the future, but a possible cause which can generate selling. I hope that it will never happen
1292  Bitcoin / Bitcoin Discussion / Re: BTG fork coming up. How do we mine it? on: October 22, 2017, 08:52:48 AM
So there is a lot of hype on the BTG fork. The number 1 quality that I hear is that it allows GPU mining. Basically anyone at their computer can mine BTG. How is this done? I would like to mine BTG, but there is nothing that I have found on the internet that can help me.
The change in the mining method (it won't be possible to mine it with ASIC systems) would cause real difference in mining, compared to the original bitcoin. When it gets forked, there will be a need for miners with decent GPU support, but there's a lack of information about the details. As the mining method is not compatible with the ASIC boxes, it was told that bitcoin gold is a backup plan if China will monopolize the mining of the original bitcoin, but it's not officially stated yet...
1293  Bitcoin / Bitcoin Discussion / Re: What happens when Bitcoin reaches its Max Supply? on: October 21, 2017, 06:52:32 PM
I had the same idea. Who will confirm the transactions without mining fees? and what will be bitcoin price then?
Don't worry mining fees will exist every time. Just remember a few months ago, when BCH and BTC were 'fighting' and miners were hopping from and to the different chains to mine. This caused high fees on the BTC chain, so the miners earned the block reward and serious profit from fees as well. This amount of profit from the fees should be enough for the miners if the block reward disappears.
1294  Alternate cryptocurrencies / Altcoin Discussion / Re: Difference between cryptocurrency coins and tokens on: October 21, 2017, 06:39:29 PM
Another way I like to explain in simple terms is that coins are generally generated or "mined", with every addition of a new block on its blockchain. These stay in circulation.

Tokens are generally created all at once, its entire supply at the same time. They are distributed, not mined.
To interpret it to a real life thing:
Coin: Money
Token: Shares (of different companies)
Not this simple, of course, but you can understand the difference between the two things based on that.
1295  Bitcoin / Bitcoin Discussion / Re: How to effectively store large number of Bitcoins? on: October 20, 2017, 10:21:39 PM
https://cryptosteel.com/
Everything else is prone to data loss as time goes by. Don't waste your money on trezor or whatnot if you want to store long term.
Well, that can be done a bit cheaper, too. Buy some thin metal business cards from ebay, buy a second hand engraver and engrave your seed yourself. I won't advice to get it engraved by professional engraver, because you won't know if he recognizes that it's a seed or not...  Don't risk your hard earned coins
1296  Bitcoin / Bitcoin Discussion / Re: How Do You Cashout BitCoins? on: October 20, 2017, 10:07:12 PM
There are other exchanges which do the converting for you. Coinbase, Gemini, Bitpanda, Bitstamp are just a few which you can sell your bitcoins and they can pay you in fiat money through bank transfer or different payment processors, like Paypal,Skrill,Neteller etc.
When you send your fiat to your bank account, try a smaller amount first, some banks in the EU are starting to stop transfers coming from Crypto exchanges, and sending back it to the exchange. You can search for the name of your bank in the forum to check if there were any problems when others were wiring back funds from exchanges.
1297  Alternate cryptocurrencies / Announcements (Altcoins) / Re: ❤️❤️❤️Etheal❤️❤️❤️[ANN][LIMITED🔥PRE-Sale]Operating System of $7600B🏥Healthcare on: October 20, 2017, 10:00:05 PM
A single signature now worth 33.600 USD!
Only two members (hannusolo and Chasoid) fulfilled all requirements for the Bitcointalk Signature campaign in the last two weeks. If no one else will join and fulfill the requirements, both of them will earn 140.000-140.000 HEAL tokens which is 33.600 USD at the pre-sale price.

Join ASAP, post 10 posts/week and get rewarded! You have to wear the Signature on Monday (Oct 23rd) morning to be eligible for next week's rewards!

We also made requirements easier: from now we count posts in local threads as well!
(Boards where we still don’t count posts Lending, Games & rounds, Off topic, Micro earnings, investor based games, politics & society, beginners & help, Archival and any other signature or social campaign threads.)

You can find the rules and the signatures here: https://bitcointalk.org/index.php?topic=2241478
Hi Dev,
It's good to hear that you have lowered the requirements, but as long as it's neccessary to join telegram (and use a phone nr. from the real life), a lot of people will think twice to join to your signature campaign. I just simply don't want to link my bitcointalk username to a physical phone nr., maybe this can be one reason why only a few people managed to join your campaing yet. I have joined your whitelist (thanks for the approval), because there was no telegram required. Wish you all the best for your ICO, anyway Smiley
1298  Bitcoin / Bitcoin Discussion / Re: ECB President: Bitcoin Not 'Mature' Enough to Be Regulated on: October 20, 2017, 06:31:39 PM
Mario Draghi, president of the European Central Bank (ECB), has said that cryptocurrencies are not "mature" enough to be regulated.
Speaking at a press conference last week, CNBC reports, Draghi told reporters:

Quote
"With anything that's new, people have great expectations and also great uncertainty. Right now, we think that – especially as far as bitcoins and cryptocurrencies are concerned – we don't think the technology is mature for our consideration."

Making the comments in response to a question on the potential of cryptocurrencies, Draghi further said that one of the lessons of the financial crisis is to "cherish" the benefits of fintech innovations like bitcoin, while still paying attention to their "potential risks."
They cannot regulate it, they can ban it or leave it. They can ban it if they want, but bitcoin doesn't cause enough problem to them yet to think about banning it. They just advice people to stay away from it, which is understandable because most of the people are not aware of the potential risks of bitcoin (high volatility, losing bitcoin because of technical problems and lack of backup, etc). They won't regulate it, they will start to tax it if they will let people use it officially.
1299  Bitcoin / Bitcoin Discussion / Re: Best place to store bitcoins during the forks on: October 20, 2017, 06:05:36 PM
Yeah Im storing on my ledger but get confused between whether to store in legacy or segwit. I seen the other post regarding it and it recommended store in legacy, so will give that a whirl, cross fingers and hide until its done Smiley
I was also wondering if the segwit address would be OK for the bitcoin gold, but now it's clear that the legacy address is needed for that. Thanks for the info, I have to move some dust from the segwit address to the legacy, every penny counts Smiley
1300  Bitcoin / Bitcoin Discussion / Re: Wallet is the weakest link? on: October 19, 2017, 09:13:09 PM
For non-technical holders of BTC (i.e. the mass of the BTC population), the risk of inanonymity and centralisation still there: as they have to entirely rely on their wallet providers? If such wallet providers are hacked or meddled with their users, the users won't have anyway to protect themselves or anyone to make a claim on? Their fund in BTC is entire at the mercy of the wallets?

How you think BTC would work for the ordinary people in the future to replace their current existing financial assets and management with fiat currencies?

Not all wallets are centralized... I do not think wallets are the weakest links if you choose a good one that gives you complete control of your private keys..
The weakest link is always the human. You can have the best hardware wallet if you don't know how to use it. You can have your private key hidden somewhere, you can write down your seed on a paper and laminate it, and hide it too, if you take a photo of your seed and store it on your phone (just in case if it's urgently needed...) then it's a big mistake also...
Every kind of wallet have it's own weakness and strength.
I use hardware wallets to store and web wallets to spend (and not vica-versa). You just need to know the level of the risk and act accordingly. Web wallets are also fine (despite of you don't have your private key) for a purpose of spending smaller amounts.
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