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If you are new to all this I would highly recommend that you stick to bitcoin. Until you understand what the differences between alts are you are not in a position to make great choices. Not all alts are scams, but the majority are. They are mostly developed to solve bitcoin's big problem. What problem is that? The problem of the developer not having your money.
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I think i can protect myself from being hack just to dont sen my private key just keep it secret and private from anyone
That is the most important thing. As long as you are the sole owner of a private key, then you are the only one who can move the associated bitcoin. |
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You watch too many movies, there is no conspiracy lol
Agreed. What I have yet to see, after 7 or 8 years of reading about how some banker or government is going to destroy bitcoin, is HOW they are going to do it. I will continue to ignore these threads until there is at least a viable theoretical method for crushing bitcoin. Maybe its not about how the government destroys BTC, but how they regulate the hell out of it and make it very hard for ordinary people to use. The exchanges are the weakest links if you ask me. They might start attacking those. But who, banks? banks have no legal authority. On what legal grounds? Why do I have to use an exchange? I spend my coin not sell them, so I don't need an exchange. And if my government were to "go after" me... I would just move to another country and take my money with me. I don't think you will be leaving the Earth any time soon. Because it is not about some government going after you. Today they are all after you. Well, not quite today but you get the point. If all major countries collectively outlaw Bitcoin, where will you go? Exchanges are the weakest link but they are not the only link in the chain which connects you and your bitcoins, metaphorically speaking. And they will find a way to sever it. I do understand what your concern is. Banks could use their power to lobby for laws that restrict bitcoin, etc. I think that is happening to some extent. But their power is limited and the world is a huge complex place far beyond the control of banks. Banks are in competition with each other and could make huge profits servicing bitcoin. It may be just the ticket for some small bank to explode. Why wold such a bank want to hurt bitcoin? There is also the problem of people just using it anyway. There is no central authority to stop me from using it. And the government has not complained to me about the checks they receive quarterly. What's their incentive? |
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I'm still going to form my opinions based on what y'all write and do, and I assume others will also. Just do good things. The points are just to deal with the small minority that can't live with the world.
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That's a really cool idea. It's interesting to see how the blockchain is being used beyond alt coins. Best of luck with your project!  |
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On a related note, they may not.
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You watch too many movies, there is no conspiracy lol
Agreed. What I have yet to see, after 7 or 8 years of reading about how some banker or government is going to destroy bitcoin, is HOW they are going to do it. I will continue to ignore these threads until there is at least a viable theoretical method for crushing bitcoin. Maybe its not about how the government destroys BTC, but how they regulate the hell out of it and make it very hard for ordinary people to use. The exchanges are the weakest links if you ask me. They might start attacking those. But who, banks? banks have no legal authority. On what legal grounds? Why do I have to use an exchange? I spend my coin not sell them, so I don't need an exchange. And if my government were to "go after" me... I would just move to another country and take my money with me. |
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Is Bitcoin vulnerable to quantum computing?
I think it's something that has been over speculated and over hyped, if quantum computing breaks bitcoin is has also broken the entire financial system as they use similar encryption methods as well to secure information. I'll just second that answer. Bitcoin will be the least of our worries if this happens. |
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It's not complicated. Just tell them you will only buy from them if they take bitcoin. I have convinced about 10 businesses to accept my bitcoin. Later this week I get a haircut from someone who agreed to take BTC. Want my money, then take my bitcoin. Bitcoin is "my" money.
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It has "recovered" from wild speculation. The healthy price is about $11K USD.
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Yes it is. probability by 98%
...
How do you start with an opinion and end with a specific number like 98%? What you are doing is not math, it's called guessing. Keep that in mind before selling the family farm to buy more bitcoin.  |
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Never trade with any unlicensed business. You have absolutely no legal recourse when they take your money. Your best bet is to move on and learn from the loss.
1. Only work with legal businesses.
2. Unless you FULLY understand bitcoin never deal with alt-coins.
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You watch too many movies, there is no conspiracy lol
Agreed. What I have yet to see, after 7 or 8 years of reading about how some banker or government is going to destroy bitcoin, is HOW they are going to do it. I will continue to ignore these threads until there is at least a viable theoretical method for crushing bitcoin. |
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I was fortunate to have time to go hunting with the best trackers in the world. The picture below shows us stopping to look at some tracks. But who are these people? The first person to post the name of these people wins a prize. There are several names that will work. Good luck!  |
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Well I see all the mom's basement experts are here to tell us about the government's secret plans. I make soooo much money ignoring bullshit. This is going to be a great week!
What do you mean by that? In your opinion will it rise or go down more? I think with all this fear it will go way down. $5-$6K maybe. But whatever it does it is not someone doing it, it is behaving the way bitcoin always has. Boom and bust cycles. I have seen much worse than this. |
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Well I see all the mom's basement experts are here to tell us about the government's secret plans. I make soooo much money ignoring bullshit. This is going to be a great week!
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I wonder why people using BTC are so retarded.
The only argument that they use is "BTC will recover because it used to recover in the past".
NO, IT WILL NOT RECOVER.
Soon mining in China will be illegal. There will be 102041294129040192 unconfirmed transactions and $1000 fee.
BTC is dead.
Sell it now.
The end.
Oh hi, You must be new. https://99bitcoins.com/bitcoinobituaries/ |
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now this is the kind of thing that has partly caused the mess we are in at the moment. the reason i gather for the south korean clampdowns and raids on peer to peer exchanges is because people were doing stupid stuff and getting into crypto way over their heads. sounds like this is happening in south africa also. if it continues and people do stupid stuff the authorities will have to do something drastic "again" some people have no financial knowledge at all  Oh? Why would selling one of your Land Rovers for bitcoin not make sense? Why is it stupid to sell a depreciating asset for an asset that is seeing growth beyond anything known in investing? " ONE of your land rovers" absolutely nothing wrong with it at all! as long as its not the only asset! we all know the saying "only put in what you are willing to loose" where then does it stop? "i sold my T.V, sold my clothes and my car, what else can I sell, i know I'll cash in my pension and stop my life assurance, oh hold on, ill sell the house too,
shure it will be all right in the end, I'll be able to buy another bigger one in a couple of months . . . "sometimes people need to be protected from themselves  I was not assuming that they are poor. There are a lot of rich people in southern Africa. But yes, your right. Only "invest" what you can lose. I was in Africa a couple weeks ago and saw it myself. Bitcoin is Africa will be huge.
Ok, I was wondering since you have been there, what do the locals there use to conduct micro transactions? Is it a cash economy for the most part, or have there been any forward developments in terms of having a quick and cheap way of transacting that are based on fiat? I even have been reading at how people exchange phone credits as a means of payment in extreme cases. Not sure how much of this is true, but it somewhat makes sense for those who don't have anything else to transact with. Everything is better than using their own fiat currency that becomes less valuable basically with every day that goes by. I mostly saw cash being used. However, you are correct that in many places they trade phone mins. Weird huh? They also use M-Pesa in many places. |
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