New ATH in 2015 around $5500
That would be crazy.. n every early adopter will be immensely profited by that if it happens. but as per what I feel.. even reaching 500$ would be a challenge in itself! It's funny that everyone is predicting an ATH while the price is plummeting because of the Bitstamp news. Have you actually looked at the price? The price decreased before this news and haven't moved much since this news. No, I don't look at it everyday anymore. Isn't it kind of unusual for one of the few major Bitcoin exchanges to be closed, even without a theft, and the price not move at all? The funny thing is: The price actually went up since this incident. It is not much and it is for sure not because of this incident, but still. |
|
|
|
Title needs to be changed to, "How to slightly inconvenience bitcoin by throwing 70 million dollars away"
I wonder, what such an attack would actually cost. I think, even if you have the money to buy it, the market might not be able to provide the hardware instantly. Try buying 10% of all iPhone 6. |
|
|
|
I have no doubt that some big player in the Bitcoin world will go down in 2015 and they will take a lot of bitcoins with them. If you are allowing someone else to store your bitcoins (and you aren't using a multi-sig address), then you are making a tragic mistake.
The keyword here is multi-sig. One key at the "bank", one at your smartphone, one safely stored away. I think, that is a scenario, you can teach everyone, who can use online banking. |
|
|
|
That wouldn't end Bitcoin. It might make some trouble, but even that wouldn't that big.
Even if you could drop the hashrate 50%(which is complete bullshit, since if it drops miners with older hardware just go in again), that just means double confirmation time. So what? It adjust after 4 weeks instead of 2 weeks, big deal ...
why would miners with old gear go in on high difficulty? The hashrate doesn't make a difference for them, the difficulty does. Well, we assume a further decline as time passes eventually leading to everyone drop out. And there you are wrong. The overall hashrate tells them if they find the block or somebody else finds the block. The difficulty just tells them how long it will take them(or someone else) to find it. Why would we assume a further decline? Everybody knows, that there will be a new adjustment in 4 weeks max. the situation would be: high difficulty stuck and low hashrate clones of bitcoin died this way before. The Bitcoin network is much stronger than that of his clones. You can't really compare them. There are even people in the network, who still mine for the fun of it or just to support Bitcoin, not to make a profit. sure. The way presented here makes it affordable though. The few hobbyminers left will not want to mine if they can't even find a block in a day. Do you really think, professional miners would trash their expensive hardware, they can't use for anything else than mining, when the difficulty goes up? That would be pretty stupid from an economical POV. |
|
|
|
the proof is here: Bitstamp lost 19K bitcoin = 5 mil usd do you think that there were safe? try to withdraw some money from them today, see if you can BUT there are safe, right?  Yes, they lost money. That doesn't mean they lost your money. They lost their hot wallet, but have much more funds in their cold wallet. They don't have any problem, paying back to their customer. If both cold and hot wallets are clients deposits, then yes, they've lost some small % of everyone's deposits. If they have sufficient reserves/source of funding to cover such loss, then it's no problem for the customers, BitStamp owners would be the only ones who got hit. But if they can't afford it - that's when the shit goes down. The cold wallet is not just clients deposit. It is also their revenue. Your statement would be true if they converted their revenue to fiat instantly. I don't see any evidence, that they can't afford it. |
|
|
|
That wouldn't end Bitcoin. It might make some trouble, but even that wouldn't that big.
Even if you could drop the hashrate 50%(which is complete bullshit, since if it drops miners with older hardware just go in again), that just means double confirmation time. So what? It adjust after 4 weeks instead of 2 weeks, big deal ...
why would miners with old gear go in on high difficulty? The hashrate doesn't make a difference for them, the difficulty does. Well, we assume a further decline as time passes eventually leading to everyone drop out. And there you are wrong. The overall hashrate tells them if they find the block or somebody else finds the block. The difficulty just tells them how long it will take them(or someone else) to find it. Why would we assume a further decline? Everybody knows, that there will be a new adjustment in 4 weeks max. the situation would be: high difficulty stuck and low hashrate clones of bitcoin died this way before. The Bitcoin network is much stronger than that of his clones. You can't really compare them. There are even people in the network, who still mine for the fun of it or just to support Bitcoin, not to make a profit. |
|
|
|
That wouldn't end Bitcoin. It might make some trouble, but even that wouldn't that big.
Even if you could drop the hashrate 50%(which is complete bullshit, since if it drops miners with older hardware just go in again), that just means double confirmation time. So what? It adjust after 4 weeks instead of 2 weeks, big deal ...
why would miners with old gear go in on high difficulty? The hashrate doesn't make a difference for them, the difficulty does. Well, we assume a further decline as time passes eventually leading to everyone drop out. And there you are wrong. The overall hashrate tells them if they find the block or somebody else finds the block. The difficulty just tells them how long it will take them(or someone else) to find it. Why would we assume a further decline? Everybody knows, that there will be a new adjustment in 4 weeks max. |
|
|
|
|
That wouldn't end Bitcoin. It might make some trouble, but even that wouldn't that big.
Even if you could drop the hashrate 50%(which is complete bullshit, since if it drops miners with older hardware just go in again), that just means double confirmation time. So what? It adjust after 4 weeks instead of 2 weeks, big deal ...
|
|
|
|
People are taking legal action. That is a slow process, sure, but what is your alternative?
paying the debtor a visit in person usually works in my experience And then you do what? Break his legs, when he don't pay? We live in the real world not in a Hollywood movie. |
|
|
|
the proof is here: Bitstamp lost 19K bitcoin = 5 mil usd do you think that there were safe? try to withdraw some money from them today, see if you can BUT there are safe, right? Yes, they lost money. That doesn't mean they lost your money. They lost their hot wallet, but have much more funds in their cold wallet. They don't have any problem, paying back to their customer. |
|
|
|
|
Like I understand the term viral. Bitcoin hasn't gone viral yet.
I don't see much Bitcoin-news in mainstream media. I don't see it on Facebook, I don't see it on 9gag.
I don't think, it ever will go viral. I don't see any event, that could make that happen.
|
|
|
|
New ATH in 2015 around $5500
That would be crazy.. n every early adopter will be immensely profited by that if it happens. but as per what I feel.. even reaching 500$ would be a challenge in itself! It's funny that everyone is predicting an ATH while the price is plummeting because of the Bitstamp news. Have you actually looked at the price? The price decreased before this news and haven't moved much since this news. No, I don't look at it everyday anymore. Isn't it kind of unusual for one of the few major Bitcoin exchanges to be closed, even without a theft, and the price not move at all? So, just look at it now. The amount of people who write BS without looking at the actual (easy to find) data, is too damn high. |
|
|
|
Calm the fuck down everyone.
Ofcourse it is very sad you are not able to trade, however, your coins are safe.
I hope you are able to trade before the bottom.
Bitstamp will prove that this market is robust after the mtgox drama
prove they are safe. Otherwise please stop spouting baseless BS. Thanks prove they are not safe. Otherwise please stop spouting baseless BS. Thanks |
|
|
|
Paycoin and the North American Bitcoin Conference
... Paycoin/Paybase CEO Josh Garza accomplished this primarily by ..., and guaranteed a $20 floor price. Further, he claimed that you would be able to shop online on Amazon, Walmart, Target, et al using Paycoin, ...
Neither of which actually happened. Incredibly, even though Paybase now claims that they can't support the $20 value because it would be illegal (not true), they show this on the Paybase site:  Paycoin is a classic pump-and-dump (though I suspect that they never got a chance to dump). Just looked at https://paybase.com/(I hope it is the right site) and it says the price is 4.31 USD/XPY lol |
|
|
|
|
There have always been trolls and there always be trolls, whatever their motives are.
|
|
|
|
yes there is that but i meant do something as in getting their money back not posting things about him online The new word seems to be calling people beta for stuff, its cool i must keep up with the youth and start dropping it in sentences.
its a good word People are taking legal action. That is a slow process, sure, but what is your alternative? |
|
|
|
No, BTC cannot go viral. Since it involves spending money (usually via a bank wire), it cannot spread like a virus.
This guy has the right mindset. I would like to add though, that maybe how BTC could go essentially viral within the whole world, is if there was some sort of benefit that big companies made it to be. Such as this for example: "If you pay your ______ Bill with Bitcoin, then you save an extra 20%!" ... or "If you buy this XXXX Product with Bitcoins, then you get a second one free of charge!" Why would any company have incentive to do this? To lose money? They don't actually care about bitcoin and they wouldnt hold it anyways, most likely just use a payment provider like coinbase and immediately cash out every time. Adoption by companies will not help the stability of the price, actually in the long run it will most likely continue to drive the price down. Bitcoin is accepted by large retailers at this point, but if you buy something which costs $10000 USD and you pay with bitcoin, you are essentially dumping 10k in btc. You will get a slight advantage because they will take it (maybe) at one price, but I would doubt it. They save money on fees(e.g. credit card) and could give a share back to the customer by discounts. But sure, that are not 20%. |
|
|
|
You have to live in germany to get a Fidor Bank account(at least a private account). Why not ask the banks directly? BTW afaik no banks are against bitcoin in EU.
I heard about problems with sending money to exchanges via an Austrian Bank(I think it was Raifeisen) |
|
|
|
New ATH in 2015 around $5500
That would be crazy.. n every early adopter will be immensely profited by that if it happens. but as per what I feel.. even reaching 500$ would be a challenge in itself! It's funny that everyone is predicting an ATH while the price is plummeting because of the Bitstamp news. Have you actually looked at the price? The price decreased before this news and haven't moved much since this news. |
|
|
|
|
You can scan the private key of your paper wallets with mycelium and use them.
|
|
|
|
|
Show Posts
