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821  Bitcoin / Bitcoin Discussion / Re: What if there is nomore coins to mine? on: January 14, 2016, 05:32:56 PM
Hopefully the bitcoin market will then stabilize at a very comfortable level and it will be all about the fees for the miners.

this must be true, because if we are still sitting at 1k-10k range of value, then bitcoin is doomed for sure, miners will not be able to receive enough reward to keep the network alive

unless a small sum is forwarded to incentivate the running of full node...
I see this as self regulating. If the fee is too low to be profitable then it will simply go up. You can include a tiny fee, but it may not get picked up and so the user pays a price that attracts interest. In the future it is likely that fees will rise. However any competitors (like PayPal) charges huge fees for the same service and can not possibly compete with the bitcoin system.  Think of each Tx as a contract offer and the winner is the lowest bid.
822  Bitcoin / Bitcoin Discussion / Re: Warren Buffet buying bitcoin? on: January 14, 2016, 03:51:36 PM
Yes Buffet really siad that! Well he had never been good in understanding new technologies. He is an oldschooler.
But when I have absolutely no idea I should better shut my mouth, that's why statements like this from one one of the greatest investors of all time is kind of embarrassing.

He would likely agree that you should invest in what you know. When I need tech advice I generally don't ask a senior citizen.
823  Bitcoin / Bitcoin Discussion / Re: What if there is nomore coins to mine? on: January 14, 2016, 03:47:05 PM
So basically they are being paid to burn electricity and keep the system running.
Talk about mentality, you make it sound way horrible
ha, lol. I sure appreciate their work.
824  Bitcoin / Bitcoin Discussion / Re: What if there is nomore coins to mine? on: January 14, 2016, 03:43:29 PM


At that point, miners will still continue their functions and be reward with the transaction fees.

By functions you mean what? They will continue mining? there will be no more coins lef tomine right so wha woul they do now?

Mining is also the process for creating the blocks that mathematically secure the network. The fee they get for doing this creates competition leading to the lowest transaction fee that can be supported profitably. Over time miners will make an increasing percentage of profit from fees rather than block rewards. So basically they are being paid to burn electricity and keep the system running.
825  Bitcoin / Bitcoin Discussion / Re: Warren Buffet buying bitcoin? on: January 14, 2016, 02:56:41 PM
What do we hope to determine by asking each other about something we don't know?

And now we get to the reason I make fun of threads like this.



Ah. Carry on then.

826  Economy / Gambling / Re: Professor Explains Why Your Chances Of Winning "Powerball" Are Next To None! on: January 14, 2016, 02:51:51 PM
Lotery= Tax for Idiots

LOL, that's a good one.
I always tell people that I'm hopeful of winning the lottery using my system of trying to find discarded winning tickets. As unlikely as that may seem my odds are only slightly less than if I buy tickets.
827  Bitcoin / Bitcoin Discussion / Re: What if there is nomore coins to mine? on: January 14, 2016, 02:47:36 PM
Miners will still be able to turn a profit from transaction fees.

Yep.

If you want to understand the idea, then the white paper is a good place to start and end. You can find it linked in my sig where it says "the gospel according to Satoshi".
828  Bitcoin / Bitcoin Discussion / Re: Warren Buffet buying bitcoin? on: January 14, 2016, 02:44:15 PM
What do we hope to determine by asking each other about something we don't know?
829  Economy / Speculation / Re: The parameters of the currency could be changed. on: January 13, 2016, 09:16:03 PM
I am not a specialist of such kind of this things to be able to judge is can be true or not...

We are, and this is BS.

Quote

1. The parameters of the currency could be changed.
(with the consensus permission of bitcoin users. Power to the people bro!)

2. There could be an attack on the network.
(How? People often say this, but I have NEVER seen a plausible method.)

3. Transaction volume moves off the Bitcoin blockchain into side chains or permissioned chains.
(If a user cares to use sidechains then they are free to, but not required)

4. The system does not successfully transition from being subsidized by the block reward to being paid for by transaction fees.
(huh? two halvings and so far so good!)

5. The Chinese firewall or another Internet issue causes the global Bitcoin network to be split for a few days.
(What, split in half? Nonsense. Of course a global nuclear exchange and accompanying EMP could knock out the internet and BTC. You would have much bigger problems than BTC if that happened. )

6. The lack of a central authority prevents the protocol from progressing.
(And prevents anyone from owning the system. This is bitcoins greatest strength and the basis for all the growth we have seen. Unless you prefer benie babies?)

7. A competing protocol could overtake it.
(True and possible. If a better system comes along then perhaps it will become more popular. Great!)

8. World events prompt a crackdown.
(A world crackdown? Please.  Roll Eyes )

9. Government regulations in one part of the world put the whole network at risk.
(The risk would be for those who live under THAT government, not the network. The network requires only two users and I'm one. Can I get a second? )

10. People get burned by it as an investment.
(True and possible. Why? Because bitcoin was never intended as an investment and any investment entails risk. People get burned to the ground every day on Wall St.)
830  Bitcoin / Technical Support / Re: 2 hours with no confirmation on: January 13, 2016, 08:54:25 PM
Fees can be a little confusing. The concept is that a miner can accept any fee they want or no fee. This tends to set the fee for any transaction to the lowest level that is supported by the mining network. If a miner demands too much then he might not find a lot of transactions to include in a block. If he charges too little then he might not be profitable.
So it becomes a contest that tends to make winners of the mines who accept a low but profitable fee.
831  Bitcoin / Bitcoin Discussion / Re: Bitcoin & Paypal on: January 13, 2016, 08:47:04 PM
Like others already mentioned there are a few ways to exchange btc for paypal.
There may be a btc <-> pp exchange in near future due to news of pp recruiting xapo ceo
I really hope so. Right now it is possible to exchange BTC for PP, but it is a poor choice. The profound risk of charge-backs and the lack of legal recourse through PayPal make it a scammers paradise. If PayPal allowed the option of keeping a balance in a wallet and facilitated transactions they could become the largest exchange site on Earth, IMO. I assume Wences Casares understands all this and that is why he has been asked to join the board. Let's have his back by telling PayPal that they are on the right track!
832  Bitcoin / Bitcoin Discussion / Re: Bitcoin & Paypal on: January 13, 2016, 06:49:46 PM
Write PayPal and tell them you will use their service when it includes bitcoin. They are thinking about it now, but if we all wrote today this could be done by autumn 2016.

what would happen about chargeback? how they will handle them?

That is their problem lol. But I bet they are discussing your question is meetings. Perhaps they will act as an escrow for transactions?
833  Bitcoin / Bitcoin Discussion / Re: Do Arabs use Bitcoin ? on: January 13, 2016, 06:40:07 PM
What would happen if the oil price were defined in bitcoin instead of being defined in $ and then converted to BTC ?

World War 3?  Cheesy
834  Bitcoin / Bitcoin Discussion / Re: Bitcoin & Paypal on: January 13, 2016, 06:35:21 PM
Write PayPal and tell them you will use their service when it includes bitcoin. They are thinking about it now, but if we all wrote today this could be done by autumn 2016.
835  Bitcoin / Bitcoin Discussion / Re: The most creative ways to hide your seed on: January 13, 2016, 06:25:08 PM
I have used some of these cool things. They work great and are very likely to go undiscovered.  Cool



http://www.spy-coins.com/
836  Economy / Speculation / Re: The parameters of the currency could be changed. on: January 13, 2016, 03:33:28 PM
Oh I love the Onion!  Cheesy
837  Economy / Trading Discussion / Re: Acceptable Collateral on: January 11, 2016, 08:08:54 PM
Scale also matters. If you wanted thousands of dollars worth of BTC then I would want to hold your car title. Tens of thousands might require the deed to your house. If it were $10, then a netflix account might do. And for what it's worth there aren't enough alt-coins in the world to get me to part with a BTC. 
838  Other / Meta / Re: Should people who promote ponzis in their signature be given a negative trust? on: January 11, 2016, 05:18:53 PM
I do make an exception for a ponzi that calls itself a ponzi. For a ponzi to be a scam the operator must be deceptive about the source of the payouts. If they are upfront about the fact that payouts are paid from the income of new accounts as they join, then there is nothing really hidden and one could consider it a kind of game or gamble.
"Send me 0.01 BTC , I may return double or nothing. And if I return nothing, you can't give me a negative feedback because I declared you may not get the doubled amount" , don't find any trouble with that logic /sarcasm
lol yeah, it may not be a good idea but look at the link below for something called "open-ponzi". They are not guaranteeing anything and are clear that you get paid as more people join. Assuming the numbers are real they are quite transparent and I would not call it a scam.

https://open-ponzi.com/
839  Economy / Services / Re: Boosting all your social media!! on: January 11, 2016, 04:56:44 PM
http://C:\Users\Majd\Desktop\pricelist3.png

Haha. That's a file saved locally on your computer - we can't access it. Upload it to imgur or another picture host and then link that here.
You just need to put a copy of that file on your windows desktop and the link should work fine.  Grin
840  Economy / Economics / Re: Investing Bitcoins? on: January 11, 2016, 04:49:37 PM
Perhaps this will help?
If you are in the U.S. you may be aware of the recent changes in investing laws. Now you CAN invest directly into a business as a normal person (non-accredited investor). Below is a list of portals that let you find out who wants money and for what. I did not see a bitcoin specific option, however you can ask a potential lending target if they would consider it.

http://crowdedmarket.com/platform-reviews/list-of-investment-crowdfunding-platforms/

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