The Bitcoin havling can be a good thing and a bad thing. For the people that want to buy bitcoins this is a good thing because the price will get halved so the coins get cheaper. If you want to sell this is less good news.
 the price won't halve... the supply of BTC will halve. I doubt the price will go down, in fact, i believe the price will increase. Regardless, even if the price does decrease, it is not because the price will halve. The halving halves the production. It doesn't halve the price and it doesn't halve the supply. The price is determined by the market, and the supply increases with every block, whether the subsidy is 25 BTC or 12.5 BTC. |
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Your definitions and explanations are inconsistent and confused. In the end, it doesn't matter because your definition of a "currency" is your own and is not used by anyone else.
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It is possible to cancel a transaction that has not been confirmed.
Electrum will tell you if a transaction has been posted and when it has been confirmed. It is also a good idea to see what another node, like blockr.io or blockchain.info) says.
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Don't bother. The headline is a lie. The article is a waste of time.
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Another useless article by J.P. Buntix. The headline is misleading and a lie.
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Can BTC blockchain become one day (in decades) unbearable? meaning that even large infrastructure wouldn't be enough to store and process the BTC blockchain?
The expectation is that technology will outpace the size of the block chain in the long run. Right now, that is not the case. |
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So until approximately year 2140, every new block generated will be with fixed reward (x BTCs per block generated reward). But after this date, block will be generated but with no reward at all. however, those blocks will still collect transaction fee.
Am I missing something?
That is basically it, but also: the subsidy (block reward is subsidy + fees) is halved every 216000210000 blocks (approximately 4 years), until around 2140 when it goes from 1 satoshi to 0 satoshis and the block reward is just fees. |
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PS I know electrum cold storage is secure but still that does not provide peace of mind.I know chances are low but i still fear that if someone just got lucky and somehow by luck create new wallet and got the same seed then i will lose all the bitcoins  Your fear is excessively unreasonable. Here are more unreasonable fears: 1. Someone might get lucky and generate your paper wallet's private key. 2. Someone might get lucky and generate your Trezor's seed. 1.Well private key is 256 bits that's 2^160 combinations not possible 2.Trezor seed can be upto 24 random words which will also be impossible to regenerate The problem with electrum seed is it is only 13 characters and the list of words is limited and openly posted and with the bad RNG the seed can be compromised.That's not the case with Trezor i guess You need not worry that someone might duplicate your electrum seed, and you need not worry about the fears I listed. None are impossible, and all are incredibly unlikely. The seed created by Electrum has 128 bits of entropy. This means that it provides the same level of security as a Bitcoin private key (of length 256 bits). Indeed, an elliptic curve key of length n provides n/2 bits of security.
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PS I know electrum cold storage is secure but still that does not provide peace of mind.I know chances are low but i still fear that if someone just got lucky and somehow by luck create new wallet and got the same seed then i will lose all the bitcoins Your fear is excessively unreasonable. Here are more unreasonable fears: 1. Someone might get lucky and generate your paper wallet's private key. 2. Someone might get lucky and generate your Trezor's seed. |
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Money transfers take 3 - 5 days in the U.S. It has nothing to do with Coinbase. Next time, if you need the money quickly, you can sell bitcoins for cash using Localbitcoins.
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Yes they've been legit so far. It's the largest program of it's type. What it often means though when programs come up with new high paying plans, it means they want to suck in as many people as they can before pulling out.
You'll get your money back after 2 months, for a program that lasted more than 2 years, seems unlikely it will collapse now. I might invest myself.
How do you know the program has lasted 2 years? It seems impossible for a 700% return every 6 months to remain unknown for 2 years. My bet is that the scammers bought an old domain (if that is where you get the 2 years), just like a scammer can buy an old bitcointalk account. |
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What are the first steps for a newbie to start mining ?
Mining is not suitable for a newbie unless you are only mining for fun and education. |
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Common sense says it's a scam.
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This article has nothing to do with Bitcoin.
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What I would like to understand is :
when you mine bitcoin, you earn small amount of bitcoin (without earning the 25 BTC reward to meet mathematical target). This small amount of BTC you earn is the result of transaction fee earned because you are accepting transaction into your block.
Is what I assume above right? or am I misunderstanding something?
Your understanding is not complete. A miner validates transactions, gathers those transactions into a block, and attempts to add that block to the block chain. A successfully added block earns the miner all the transaction fees in the block plus the 25 BTC "subsidy". |
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In addition to safety and legality, another major issue is currency risk. You want to make sure that you sell the coins for more than you pay for them. That means that
1. You need a good reliable cheap way to acquire bitcoins.
2. The price you sell them for should be based on the price you can acquire them at.
3. Replenish the bitcoins you sell as soon as possible. Immediately after you sell them, if possible.
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I recommend this one I use all the time, and it's a lot easier. You don't need to go on a website, you just send this address it, a bot puts that information in a database and then sends you back clean bitcoin. It is extremely reliable so far at processing millions of dollars. I personally know the owner of the service and he does not want me to tell the name of it sadly. DO NOT use blockchain.info’s shared send or any other coinjoin product as your mixer, as those do not completely hide your trail like the others.
Bitcoin Mixer Address (constantly updated): 1Te8Fmf88FjCuXnQp5vWiP...
I smell a scam. Please don't send bitcoins to that address. |
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The only way to do it (other than a mixer) is to go through a wallet service (such as coinbase), or an exchange, or any other site that holds bitcoins for you. The drawback to mixing is that the site knows where your bitcoins came from and where they went to, plus you have to trust them to not lose your bitcoins.
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If you want to sell bitcoins through localbitcoins, then you will need to transfer the bitcoins to the site. Then you go through the site's escrow and trade system
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