Co-founder of bitcoin.com Emil Oldenburg, is extremely skeptical of bitcoin’s future. He calls it the riskiest investment one can make at the moment and blames it on the market liquidity. He also has sold all his bitcoin and switched all of them to bitcoin cash. What do you think of this? Do you think this sort of news will drive people away from bitcoin and it will all fall off one day or he's just paranoid for no reason?
Eh, I can kind of see why he would move away from Bitcoin normal and into something like Bitcoin cash, considering that the network is backing up and it's looking more and more like the market is just limiting the supply to increase the value of Bitcoin (and there is little actually backing for the value because of this). Putting it into BCH doesn't make sense though since if Bitcoin goes down altcoins typically go down alongside it. I'd have expected for him to seek a more permanent solution if he was really that worried. |
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Bitcoin is now in bubble phase..reminding everyone of the Tulips ponzi scheme bubble of the 90's Use the site to send symbolic message !(when the bitcoin bubble pops) https://sendcryptopeopletulips.com(the smug feeling you'll get is priceless  ) I mean it's not like I have anything close to a serious stake in Bitcoin but what if they just pulled their money, walked away, AND they're getting free tulips on top of it? I would be pretty happy with myself at that point if someone sent me free flowers on top of getting some easy money. The key is to not be greedy. Can you sign me up for some? I'd love to get a basket (or something along those lines) of tulips one day. As a surprise, you know. Also when was this '90s tulip ponzi scheme? You're off by a few centuries friend. |
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Hi,
I read some articles on Bitcoin Super and Bitcoin Ultimate. Is there further any fork of Bitcoin coming soon?
When will we get Bitcoin super?
People can keep on trying to fork but you have to realize that the forks have basically 0 power if you simply ignore them and don't trade them. Sure if you want to make money they you can look into trading them but that gives them legitimacy. Bitcoin "super" is probably going to be another pile of shit that won't be worth the electricity it's using but people will mine and trade it anyways. |
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Ebay, amazon and other companies like them will never accept bitcoin. The main reason:
1) There are a lot of scammers in the bitcoin sphere and we know that already. The issue is that is someone is scammed on eBay, for ex, Tony buys a laptop from George. George gets the $ on paypal immediately, but never ships the laptop. After a week or 2, Tony makes a report on ebay, which then takes the $ in George's paypal account to give back to Tony, while also suspending George's account. However if someone were to get scammed after paying Bitcoin, there is nothing eBay could do to get their bitcoins back, as bitcoin is nonrefundable(which is a huge issue when it comes to adoption). No one wants to know the money they spent and got scammed from is gone forever, with nothing they could do to get it back.
Now, some of you may say, "Well you can use an escrow system to accept Bitcoin, you know like they do on drug markets on the darknet". That may work on smaller mutlivendor marketplaces, but I'm pretty sure sites as large as eBay and Amazon won't want to deal with the constant reports of "I didn't get this package and my bitcoins are stuck in escrow, can you help me?" etc etc that come with an escrow system, as well as the fear of getting hacked.
And that's besides Bitcoin's extreme volatility and slow confirmation times, etc
I mean if Amazon is going to be shipping from one of their warehouses they why shouldn't they be accepting Bitcoin or other cryptos? It's not like they can scam their customers and be able to justify it as there being someone else scamming them. Having products in their warehouses (while small) would make it really easy to avoid any sort of scamming and act as an effective escrow system for all parties. It's not like something of this design is hard, just something that I don't think you considered. Ebay shouldn't be accepting Bitcoin, ever. That would be a full-on clusterfuck. |
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I’m interested in investing $2500 should I just put it straight into btc or mining hardware?
Mining hardware probably wouldn't be bad when it comes to making money over the long term, but looking at the markets you'd get way better returns investing into Bitcoin now and if you're still interested in mining later, then you can take some of your returns and invest them so you have a larger hashing power and larger returns from the mining hardware. Now it has been a while since I did any of this, so I don't know what kind of hashing power is the sort of barrier to entry when it comes to the entire mining game, but I would assume it is still relatively high. |
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Imagine the situation in which we don't have any physical money and every currency is digitalized. The US dollar is now a token, the Japanese Yen is only in the network and the British pound is a fast-moving digital coin. What are the consequences of such an economy for the poorest of the population? Do you think that a few people can influence the digital wealth of people and wouldn't hackers be the best people to have as friends?
It's kind of like we're moving to a cyberpunk future without the cool parts of cyberpunk, really. If you look around these days almost everyone own a smartphone of some kind, even the poorer folks of society are having more and more alternatives to an iPhone, and much cheaper alternatives that can run as low as $300 and still be an effective phone. A better-implemented "Obamaphone" scenario would further cement this and everyone would have access to this digital banking. This is the end goal for trying to keep a populace passive, as your account could be frozen at any time from wrongthink or anything along those lines. Not a good scenario, but they also would never have a reason to not do something like that, stating costs or whatever as a reason. |
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Probably contributing in a significant way, I wouldn't be surprised if there is a fair amount of hype for this and everyone is getting their money in now so they can try and ride the corporate wave as more and more money gets invested into Bitcoin through various funds and corporations trying to make whatever amount of money they want to off of it. More companies are seeing Bitcoin as good, and that's a good thing I guess. It could be a lot worse, and there could be a lot of people who would just want to crash it so their fiat doesn't get affected. Big steps. |
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Hi, today i sent 0.00238 btc from my electrum wallet to my localbitcoins account.I have already paid transaction fee.I have received only 0.00154 btc in my localbitcoins account.So they have taken 0.0008 btc as incoming fee.So,dear all be careful while using localbitcoins.com for selling your hard earned btc.Just wanted to make you all alert of this loot.
I wouldn't call that looting, more something like pilfering or thieving the money, assuming that they don't have any sort of incoming fee information on their website or within their ToS. It's surprising that they would take $2 from users who are putting funds into their website, and it is incredibly surprising that they are trying to take that much from users. It doesn't cost that much to run the site, assuming that they're making money off of other things they have within their business model. Then again, I haven't really used the site all that much so I wouldn't be able to know. |
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Ripple price is just 0.25 but bitcoin is already expensive,, and since many experts are saying Ripple will be larger than anything ever seen, so do you think it's a good idea to get our hands on this Ripple? Experts suggestion needed. thanks
Ripple is on a losing streak recently, you can look at the charts and see it for yourself. It spiked and now it is sitting at about half of its peak, compared to Bitcoin which is just a few hundred dollars under what it had peaked at, which is entirely respectable for a crypto of its size and value. Plus I haven't heard of anyone calling Ripple something that will be bigger than we've been before. Since it exists around helping the banking system, and is doing a poor job at that so far, I'd ignore the token for right now. But don't listen to me. |
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Can someone explain to me why I should avoid creating my own coin and use bitcoin for my projects? Being a software vendor we want to give people a newly created coin for buying our software in hopes of creating value in that coin. Thoughts?
You would have to give them a way to buy your coin, and make it easier than buying your product with Paypal or some other similar payment system, in order for something like that to come close to working. Potential customers are probably not going to buy your product if they can only buy it through some coin that's just a pain in the ass to purchase. Allow for a discount if they buy it in your coin, but don't rely on it as a means of making money off of your own product. Keep it simple, keep it safe, never lose profits to just try and build something else up. Always offer both avenues. |
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If miners stop playing stupid games and really want the best for bitcoin, they would stop stomping on the hardfork drums of war, and they would activate BIP141 as they have been told by everyone worth listening to in the space. But what happens when you give stupid janitors the ability to vote on engineering matters? that they will don't do the right thing.
Enable segwit with no stupid hardfork drama, and see bitcoin skyrocket.
Break bitcoin in half, see the price crash, and see everyone involved in the forked chain going bankrupt, with the price going to 0 on Forkcoin, and with Bitcoin crashing but going back 3 years in price and taking another 3 years to recover.
Your choice.
You're expecting way too much of them though bud. There is no way that they would do anything but drum up more drama so they can farm as much value as they can off of the fees they get from transactions. If they didn't have the extra money flowing in then chances are they would be a lot more comfortable with pumping the value of something they ca already easily pull value from. Nowadays that isn't something that should be expected, at all really. |
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I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?
I never thought about it like this to be completely honest, I don't really have any plans for who I can give my Bitcoin to in the event that I die. Maybe I should get that figured out before I do end up kicking the bucket to be honest. I don't really have anyone to leave it to, but I would probably just include the private keys in my will. Nothing fancy, just keep it simple in a document most won't read till I die. |
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So...The price is moving around $2,400 now-a-days and dropped from $3,000 & What about the future...Is going down to $1K maybe! 
I had received over $5K bitcoin payments and the price dropped within short-time its a massive drop and I'm under a huge loss. What to do I don't know.
Its been risky to receive payments in Bitcoin now. The price may drop more and make you beggar overnight.  It's doubtful it will go back to $1k. I would say that low $2,000s are more likely than anything right now, but things can change. I doubt it'll plummet like some people are expecting for it to and we're going to keep chugging along at the values we're been seeing over the past few days/week before we see any market movements of note. I find the market crash weird to be honest, basically all cryptos got hit and I'm still not sure why. |
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So I'm back. You might not recognize this account , but that is because i made only a few posts around 2011. I was there at basically the beginning. I could be rich right now.. That's an odd thought! I was there, but i didn't put the time or effort in. Now im back, Bitcoin is higher than i ever thought it'd be, and i'm trading on exchanges. Live and learn. I feel dumb for not staying in, but smart for getting back in. What were you doing Bitcoin wise in 2011? Did you even know about Bitcoin?
I wish I knew about Bitcoin in 2011, but I respect not knowing about it because the community was still fairly small and I didn't do a lot of looking around online for things related to cryptos or whatever. A lot of my life was just getting through life and I don't think I would have even taken the opportunity to invest even if I had it presented to me, at the time. I simply wouldn't know enough. |
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I was researching and reading a certain Whitepaper from a good token project and this statement really struck my thinking:
"With no government or “anchor” backing up cryptocurrencies, the only foundation that cryptocurrencies have is people’s faith in their value. In other words, solely the market mechanism determines the price of cryptocurrencies. At my time of writing, that faith is worth is over $2000 per Bitcoin and this doesn’t spur from the Bitcoin’s intrinsic value, but from what it allow users to do."
In this case, what will happen when that same trust from Bitcoin holders can be diminished or for heaven's sake be gone...would that be the end of Bitcoin?
This also lead me to the question: is Bitcoin really a store of value or more of a medium where our trust is plastered on?
Well the same things goes for fiat money, it's not like fiat is able to work without the people's faith that it will still be buying them bread or circus tickets. If people stopped believing that they would be able to pay in fiat then its value would collapse too, since the government, while saying it "can" buy stuff, wouldn't necessarily be able to enforce something like that. But yes if the community was losing all trust and people were no longer accepting Bitcoin, which would also be shown with a drop in value, then there's a pretty high chance that Bitcoin could collapse because of it, since it relies on the community to propagate. |
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what % of entire market of btc is black market compared to % of fiat market vs black
sounds if confusing but trying to do graphical analysis of different variables and their effect on market prices
Maybe up to 15% of the Bitcoin market is composed of black market transactions I would say, there's a relatively low likelihood it is as prevalent as everyone wants to say it was. There's a lot of money and users in Bitcoin now, so there's a lot more diversity in use compared to the early 2010s. As for fiat, IIRC the GDP of the black market is something like 15% of national GDP in big black-market countries and closer to 6% in most other countries. |
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It is very positive news for the developing country like India where there is tremendous potential as compared to that of saturated economies. I believe we are going to see something positive steps from the government side which will make the usage of bitcoin and other cryptocurrencies very easy. * On Bitcoin, India's Government And Tech Companies Find Common Ground. I am pleased to know that despite attempts of painting bitcoin in the negative shade, the government is not taking any hard and fast decision. Let's hope the best. I'm kind of surprised that the governments and businesses were able to actually find something in common with their interests, typically you never hear of that happening within any country to be completely honest. I don't follow Indian politics but this sounds like something that might have been quite a feat. Or the two of them may be more dependent on each other than we know, you never really know with some countries. Good to see there is progress being made. I wish them well and I hope the continue to develop the Bitcoin economy within their borders. |
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If I may ask, what is the advantage of using credit card bitcoins?Can it benefit us? Or just make us incur losses,With unstable bitcoin prices, seems to be making us a incur losses ,!
The various companies like Bitpay and Xapo offer debit cards as opposed to credit cards for Bitcoin, since it is difficult to go after someone for credit on an asset that most governments don't even recognize legally speaking. A BTC debit card will not make you incur any kind of losses other than what you'd experience normally from the market. I'm not sure how you draw that kind of conclusion. |
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I think bitcoin will not be replaced with another cryptocurreny, because if we have to look at the btc price right now; no other cyptocurrency beats it's price. Comparing it to ethereum today, it has nothing to do with price competition which mainly other people have compared it and also speculate about bitcoin's death in the system.
I don't think that there is a lot of money that is being bet on Bitcoin's death, a lot of the money in Ethereum is because of ICOs and tokens that is provides which are typically more ETH heavy rather than anything else. It's a big speculator's currency, and that's mostly why there is a lot of money being pushed into that asset as opposed to somewhere else. Once the Bitcoin community fixes the blocksize it hopefully will not longer be a contest as to what the dominant crypto is. |
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I think that $4000 mark everyone is believing is really possible now,look at the volatility that is heading up,it boost a big amount and dumpa bit and go even higher in pump,if this will continue we can reach that $4000
Volatility goes both ways and you're essentially asking for Bitcoin to gain an additional $1,300 per piece and multiply the market cap by 1.33x. That's a nutty number to think about when it comes to basically any kind of asset, whether it is a stock or a commodity. $4000 is out of reach for now. We haven't even broken $3,000 and there's all sorts of buywalls set up so that it has a hard time getting that far. |
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