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15601  Bitcoin / Bitcoin Discussion / Re: Do you support the Use of Bitcoin as a National Currency? on: March 06, 2018, 04:01:34 AM
The Free Republic of Liberland already uses Bitcoin as its national currency, though it is a small country.
What happens when bigger countries like USA follows suit.

its not a country..
its not even a civilisation

the liberland is just 7km2. it is not even big enough to have a substantial population or area big enough for living, working and growing its own produce to be self sufficient.

imagine something thats been round longer/has more population/land/cultiure and civilisation..
do you really think that native americans / amish have their own "country". even if they have their own land and try to suggest they dont follow the laws of america and and instead have their own laws/courts/punishment system they are still in america and not their own independent country separate from america.

there is alot more that land owners need to do than just design a flag and stick it in the ground while sipping a glass of champagne saying its their independence day.

..
anyway that said.. proper legit countries wont just take bitcoin on as their national currency. they cannot own/licence/control it like they do with fiat. .. at best they can do is allow people to use it as just another secondary means of payment much like its not illegal to let people swap a case of beers as payment for someone fixing their car or doing a bit of house DIY/plumbing
15602  Bitcoin / Bitcoin Discussion / Re: Do you support the Use of Bitcoin as a National Currency? on: March 06, 2018, 03:11:30 AM
countries wont use bitcoin as their national currency.

what is more likely to happen over the next decade is that instead of using banks standard database models. governments/banks will create their own fiat 2.0 based on blockchain ledgers. and those ledgers will intercommunicate with each other where by something like hyperledger becomes the IMF auditor/controller of each inter-dependant fiat 2.0 blockchain ledger
15603  Bitcoin / Bitcoin Discussion / Re: Bitcoin censorship with PR Newswire on: March 06, 2018, 01:16:53 AM
your trying to ADVERTISE but trying to do it as a PRESS RELEASE...

can you even understand where you failed
15604  Bitcoin / Bitcoin Discussion / Re: Why do more and more people use bitcoin instead of classic bitcoin? on: March 05, 2018, 01:50:43 AM
i feel that when it comes to merchant adoption.. both bitcoin and all its forks still have onchain issues...
i feel it will end up being something like litecoin will leap ahead or another coin in terms of merchant adoption

bitcoin devs became centralised. commercialised and knuckle dragged real onchain utility growth.. and their 2nd layer project is something that even litecoin can use. so litecoin seems to be receiving alot more chatter as the go-to coin by merchants in the future.. bitcoin just lost too much rep which it wont gain back with its 2nd layer projects. especially when other coins can use them same 2nd layer tools

think about it.. 2 years WASTED and only this week has core made a semi 90% consumer ready version of their 2015 roadmap. and now say 4+ years for a consumer ready 2nd layer
15605  Bitcoin / Bitcoin Discussion / Re: Can the idea of creating a Bitcoin Bank solve the problem of transactions? on: March 04, 2018, 11:07:22 PM
anyone saying it goes against bitcoins ethos is correct.. but go look into LN hubs and realise thats the direction devs want to take bitcoin

oh and dont forget the cltv - 1-3 business day fund maturity before being able to spend
oh and dond forget the csv - chargeback

Don't forget that Lighting is just a second layer, meaning that you don't have to use it. Every person that uses Lightning, means less space on the blockchain. In essence you'll have the benefits of Lightning without using it, so why would care? Also the people that already use services like Coinbase won't have more centralization than they already have.

lol
and do you really think that LN can function at its best if LN close channels are not prioritised above normal legacy transactions??

imagine it. a LN channel signed a TX with low tx fee, and its csv revoke tx is then obviously not accepted by the block intime due to onchain spam.. and ofcourse you cant get a LN partner to re-sign a new revoke with a higher fee. because the revoke is sent because a partner disapproves of the channel partnership
ofcourse the next stage is to prioritise LN transactions into blocks as a work around for LN channels with low onchain fee's
thus causing more dev created drama to the onchain delays debate, with the false premiss that doing so is beneficial for the smooth running of LN (at the further distress of normal onchain spenders)
15606  Bitcoin / Bitcoin Discussion / Re: Can the idea of creating a Bitcoin Bank solve the problem of transactions? on: March 04, 2018, 10:21:23 PM
anyone saying it goes against bitcoins ethos is correct.. but go look into LN hubs and realise thats the direction devs want to take bitcoin

oh and dont forget the cltv - 1-3 business day fund maturity before being able to spend
oh and dond forget the csv - chargeback

15607  Bitcoin / Bitcoin Discussion / Re: Where is all the "Bcore" propaganda everyone keeps mentioning? on: March 04, 2018, 10:01:22 PM
this is all because, if you have an idea/feature you want in bitcoin. you cannot just make a full node wallet and let it run and promote the community to run it too.
many have tried and the blockstream crew deem it an attack

blockstream deem only core can be the organisation that controls future features of bitcoin. and if you want your feature included in bitcoin this is the process you have to follow:

"People wishing to submit BIPs, first should propose their idea or document to the bitcoin-dev@lists.linuxfoundation.org mailing list.
this mailing list is moderated by rusty russell - blockstream employee

"After discussion, please open a PR. After copy-editing and acceptance, it will be published here. [bitcoin BIPS on github]"
this bip listing is moderated by Luke Dashir - blockstream employee

if you want to discuss a feature on the development category of this forum, you will find it is moderated by gmaxwell - blockstream employee

as for the bitcoin code
the total rewrite of satoshi's code of 2009+.. to what became bitcoin core was done mainly by pieter wuille - blockstream employee
(sipa segwit core rewrite)

the ring network between pools (fibre) is managed by a version wrote by Matt Corallo - blockstream employee

the majority of the DNS seeds for the network are monitored by blockstream employees
    seed.bitcoin.sipa.be
    dnsseed.bluematt.me
    dnsseed.bitcoin.dashjr.org

again if anyone was to dare make their own wallet with new features that are not aligned to the blockstream roadmap of 2015, is treated as an attack

this can be seen by how aggressive blockstream employees have been against xt, classic,unlimited, and many other full nodes that go against blockstreams roadmap

and yes i can predict alot of flaming from some who try their damned hardest to pigeon hole me into some altcoin camp.. yet cant deny the proof..

and yes some will try suggesting that matt corrallo and gmaxwell and luke JR are not employed by blockstream, but we all know thy are the founders of blockstream.. its an immutable truth even they cant rewrite
15608  Bitcoin / Bitcoin Discussion / Re: I have just found an eastern egg I think. What do to with it ? on: March 04, 2018, 08:58:57 PM
yea it happens when you have made 1337 posts
15609  Bitcoin / Bitcoin Discussion / Re: Cryptocurrency Forks are bait, a scam to get the seeds to (all?) wallets. on: March 04, 2018, 06:38:04 PM
i think what the OP is saying is this:

dont just move coins to a new address if your old wallet was a HD seed wallet, ensure the new address is from a legacy private key and not just a fresh address using you HDwallet seed, after all even if the funds have moved.. using a HD seed that also points to your new address still put your moved funds at risk
15610  Bitcoin / Bitcoin Discussion / Re: The environmental problem on: March 04, 2018, 05:13:33 PM
think about it this way..
if we were mining using GPU's the electric used by the network would be much higher but the difficulty(security from brute forcing) would be weaker

that said
the total 23exahash is about 1.8mill S9 miners

however
there are half a million ATMS in america
there are 6700 banks in america, many bank call centres, head quarters
(1.4mill employee's probably with access to a pc each)
then we have the background stuff like visa, mastercard and amex servers

and thats before you equate the fuel consumption of the secure bank note armored delivery vehicles and staff getting to work
and thats before you equate the physical resource consumption of printing bank notes..

if you done some maths you would see moving fiat around uses more electric and is less secure than bitcoin

in short FIAT is less environmentally friendly
15611  Economy / Speculation / Re: Low volume is it significant on: March 04, 2018, 01:26:31 PM
it is significant

with less volume means that its much easier for day traders to affect the price without spending much.
imagine it like this
imagine all (near) 17mill coins were on exchanges and everyone had to set a price they are willing to sell their coins for. you would see orderlines costing millions just to get to the next level(price increase/decrease)

yet with low volumes, day traders can move the price up or down for only a few hundred dollars per orderline

anyway, there are many reasons why there is low volume.
too many exchanges so that instead of say 2mill trader coins on 3 exchanges(avg 666k each) , those coins are now spread over 20 exchanges(avg 100k each)
other things are when exchanges that handle fiat are hit with some AML/KYC restriction where it becoomes suddenly harder to deposit coin or fiat due to extra paperwork and registration requirements
when exchanges claim they been hacked, traders lose confidence in all exchanges and take coins out incase their other exchange follows suit
real world events like nearing a end of a tax year or a chinese new year or christmas affects peoples spending power and peoples trading habiits change

but basically, if there is a period where volumes are low due to orderlines bing empty (people making orderlines of well under a satoshi) it becomes much easier for prices to move
15612  Bitcoin / Bitcoin Discussion / Re: Toronto-Dominion Bank Restricts Crypto Purchase Using Credit Cards on: March 03, 2018, 09:53:07 PM
banks dont care about 'debt risk' of thier customers

after all a credit card limit is in place to cover what the card holder can afford to pay back. so it doesnt matter if its a car, or a bitcoin. the credit limit secures the debt risk limit.

the real reason is to avoid costing the banks lots of money because of chargeback scammers.
they wont say that though because it would be just advertising to scammers that performing a chargeback is an option to get bitcoin and money back
15613  Other / Meta / Re: MERIT SYSTEM PROBLEM on: March 03, 2018, 09:02:15 PM
I think you're in the wrong thread you should post this in Meta section. Going back on topic. Who wants this kind of thing? first we don't need this king of system it's like they preventing us to rank up our profile.

why do you need to rank up...
how about just make good quality posts that help the community.. you know. its like life.. employment.. relationships..earn a promotion/recognition. dont expect a promotion/recognition just by turning up

then by being a good contributor instead of a spammer, your promotion/recognition will have more value
15614  Bitcoin / Bitcoin Discussion / Re: Must Read on: March 03, 2018, 08:57:30 PM
this is where the old activity/post count caused that.
people posted just to get a post count in any random thread they could find, just to get a quota.

now with the merit system this should naturally die down because people who want to rank up, will now only post if they write good quality content, in a thread that will earn them a pat on the back/recognition in the form of a merit. thus the spam should reduce (we hope)
15615  Bitcoin / Bitcoin Discussion / Re: F.C.A Regulations and Paying TAX on SOLD Bitcoin on: March 03, 2018, 08:49:07 PM
So do you need to pay tax on money gained at the moment? Are regulations coming in?

if you get fiat (£) then you need to declare it and it will get taxed.
it doesnt matter if its from selling a bitcoin, a house or a car.

however selling most cars (common thing many people do) they dont make thousands in profit as most cars decrease in value by hoarding it, so taxmen dont chase you when you sign your log book over to someone else.
however if your making thousands by selling a house or bitcoin and not investing it the same year.. the tax man will chase you.

also dont think that just because they didnt chase you this year you are now free, HMRC can retrospectively chase you in many years time for income/profits you didnt declare years earlier, so dont think about spending all of it if your not gonna declare it... as it may hit you in the future

what most smart people do is this
imagine you bought 10btc last year at £1k each (£10k)
this year you sell just one btc.. thus you have £10k back at this months average..
you have technically not made a loss or profit.. £10k in £10k out.. no tax
now your more then likely to be free to spend that £10k without any tax burden

but if you want to sell all 10btc(£100k) expect to declare it

but speak to a tax adviser about assets
15616  Other / Meta / Re: MERIT SYSTEM PROBLEM on: March 03, 2018, 08:24:08 PM
anyone that says they NEED hundreds of merits.. your missing the point

you NEED to make good contributions, and people will give you a pat on the back in the form of merits
and if you have had enough recognition for contributing positively by getting enough pats on the back in appraisal. then you rank up.

if your only concern is ranking up in weeks so you can get some bounty/sig campaign. then im sorry but your missing the point of this forum.
if your only concern is ranking up from a newbie in weeks. then im sorry but if thats what newbies think. then by the time they rank up.. a flood of hundreds of thousands of other newbies would have ranked up too,
which means the bounty/sig campaign awards you hope to get will be lot less, due too too many fingers in the bounty pie

forget about ranking up quicker. forget about making getting merit easier. just learn about bitcoin and help people out.
rank up due to quality posting, not quantity posting.

but yes if you see users getting lots of merit from certain users and those users got merits back of similar amounts within a certain time, (fake appraisals) then there should be a way to have their merit reduced especially if the posts are boring spammy non contributing quality
15617  Economy / Speculation / Re: Is Bitcoin a Bubble? on: March 03, 2018, 02:32:56 AM
bitcoin is not a bubble.. its an asset

bitcoins price IS currently in a bubble

take the real estate market. houses are an asset, but the prices can INFLATE real quick above a steady average. this sudden rise for no infrastructural reason is where the prices are in a bubble. and when it bursts it drops to a lower more realistic level

real estate has had its bubbles, as have many assets.
bubbles dont mean the asset is not real. bubbles mean the price is currently very inflated due to alot of hot air(speculation)

15618  Bitcoin / Bitcoin Discussion / Re: Bitcoin going the Silver Way on: March 02, 2018, 11:50:44 PM
Bitcoin is solidly valued @ $9k-$10k a piece right now and it's already a great amount.

solidly??.. nope

less than a month ago it was $6100
a fortnight ago it was below $9k

a solid resistance point is still $5k-$6k anything above this is speculative
but the solid resistance point it does rise... SLOWLY
emphasis slowly.. not jumping $3k over a fortnight.

this $10k price is still speculative.. it can go up or down
15619  Bitcoin / Bitcoin Discussion / Re: Bitcoin going the Silver Way on: March 02, 2018, 10:56:48 PM
10k isn't a proven bottom but it's definitely a resistance point, 9k is the stronger resistance and seems more likely to be a bottom.

I don't agree with everything franky is saying, but 9k is definitely not a "bottom". I would be very willing to bet that Bitcoin will drop below 9k, and it will probably do it soon, too. When we see daily fluctuations of 20% or more, what gives you such confidence saying that is the bottom when it is only one or two bad-days away from that point.

Unless I'm misunderstanding your definition of "bottom", then I think you're way off. Franky is probably more correct at about 6k, but even this isn't something I would wager on. If there's a single significant event we could see it drop even below that point.

I hate the analogy that "Bitcoin is taking the silver way", it seems like a lazy title and a poor comparison.

the $8-9k is based on the maths of cost to mine a bitcoin
the $5-$6k is based on looking at the lows and drawing a trend line across the lows of long periods.

i call the LOWS the waterline of a bathtub of water and the highs the soap BUBBLES of a bath of water..
yes there can be a big nasty event that pulls the plug out of the bath and the waterline goes down. but if you look at the water line for the last few years. so far there has been a steady increase

here, for those that love images
15620  Bitcoin / Bitcoin Discussion / Re: How to counter attack SPAM efforts by Ver's minions on: March 02, 2018, 10:25:29 PM
most of the spam is actually from MIXERS..
but the OP is a reddit reader so will sheep follow propaganda.

a real spam attack is where the many transactions are only 1-5 confirms before being respent again., which is obviously out of character for normal real world use by real people needing to move their real value.

a fix would be a tx fee priority formulae which makes it cheap for people that only move funds once or twice a day, but more costly if they are moving funds more often

EG
imagine if it was 1sat/byte if you have 144 confirms(a day since it last moved) and be something like 144sat/byte if it only has one confirm(only 10 minutes since it last moved)

this too can be done without a fork.
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