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I do not know what kind of security and identity checks and verification the site has but would it be a better idea to let the lender handle these things himself? All the site has to do is to make the guidelines on how and what kind of ID the lender should ask for from the borrower, what kind of collateral in case of non-payment and all that stuff. Recording all the transactions made will also be the site's responsibility. Other than that everything should be between the lender and the borrower. If someone wanted to borrow Bitcoins from me I should have the right to ask some ID and all other information from the borrower directly.
If you trust the site to do everything for you and let anybody borrow Bitcoins from you then that is just plain stupid.
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I would welcome a drop to $500 or the lower $500's. I actually am hoping and wishing for it because with Bitcoin a drop in price should be looked at as an opportunity to buy more coins at bargain prices. It has proven to be a good investment and with still a lot of potential for growth. Some do not believe a $10,000 per BTC price but I do and it makes sense. It is the only way for Bitcoin to lower its volatility percentage-wise.
So you believe that cheap bitcoin is the key and also you want price to reach $10 000? Isn't it a bit contradictory. It is true that more people will be able to buy BTC this way. But do you really think that this will be game changing opportunity for people? It is better to have stable price for once. It will show people that BTC could be FIAT replacement. Please reread my post again, I said I would welcome a drop to $500 because I would see it as an opportunity to buy more at a bargain. Bitcoin to $10,000 is in a very different sentence entirely. I only expressed that it would reduce the volatility of Bitcoin in percentage. Imagine a $100 - $200 swing if the price per coin is $10,000. It will be on the low side compared to the current price of Bitcoin at $600. Do you get the point? |
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Maybe the next financial is already starting today. Has anyone seen this news? https://www.youtube.com/watch?v=qoA-rlpVJp0Ron Paul is claiming that the US Dollar will collapse on September 27, 2016. That is today! He is also saying that gold's price will go to infinity. Bitcoin could also possibly be one of the safe havens where the people outside of the community can store their wealth. Now might be a good time to start talking and educating about Bitcoin. |
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That is very true, Falconer. Guardiola never really made an impact with Bayern Munich unlike the very huge impact he made with Barcelona. The Bayern fans did not even think that he was "one of them" when it was announced that he was going to leave the club. Some even say that Guardiola's performance in managing in Germany was mediocre except for a few tactical changes he brought with him.
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I am beginning to accumulate some ETC and I am planning to put them in cold storage. Is it the same process as Bitcoin? In Bitcoin I go to bitaddress.org and generate a wallet while I am offline. Can I do the same process using classicetherwallet.com?
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Great start to the season for Carlo Ancelotti who has won all 8 official matches with 27 goals scored and and just one goal conceded. No coach had ever won at bayern munich the first 8 matches of his management in 116 years of history.
Yes that is very impressive. All the pundits thought that he is already going down as a manager and his great start with Bayern Munich has proven all the pundits wrong. Not even Guardiola, who is regarded as the best manager in the world has made such a start in his career with Bayern. Anyway my prediction for this week's game between my BVB and Bayer Leverkusen is either a low scoring 1 - 1 affair or possibly even BVB losing 2 - 1. With Aubameyang injured I think they will have a lot of difficulty making goals. Dembele is good but he does not have the same experience as Aubameyang. So the rest of the team must step up. |
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Adaseb, can you do a quick analysis on ETC? I am looking to go into it for the long term and I would want to know at what price is a good entry point. This will be my first long term cryptocurrency ever outside of Bitcoin so I would like to know if now is the best time to enter.
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Borussia Dortmund may be without Aubameyang at the game versus Real Madrid tonight. I believe the best they can hope for might only be a draw because losing him in a game will impact them a lot negatively. I hope he gets back to being healthy and fit to play as soon as possible. My prediction for this game is 1 - 1.
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This is my method in earning bitcoin. I go for forum site and faucet site for earning capital funds. Then invest my bitcoin to online investment site. Other option is trade my bitcoin in trading site. Buy for stacks and sell it as price is up. And last option is gambling I try my luck to bet to grow my bitcoins.
That is certainly a way to earn some easy Bitcoins. Also add joining a signature campaign if you think you are a good poster. But for what you need since you mentioned "capital funds", I assume you want to make good, decent money by using Bitcoin as an investment vehicle. The best way would then be not the easy way. The people who made it big in speculating and investing did not start by earning their capital from faucets. They usually had the know how in trading and investing and then took loans and used that as starting capital. |
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Simple Bitcoin related businesses one can start: 1. Start your own faucet 2. Create a blog about crypto or technology 3. Start a Bitcoin forum Going to be hard because of Bitcointalk.  . 4. Start a faucet rotator/list and get profit from referral 5. Buy crypto related domains and sell them off 6. Day trading 6.5. Create a profitable robot to do day trading for you Just some idea I came up with in 2 minutes. Hope you enjoy.  . What about starting a forum that caters specifically for altcoins? You can even copy the current system that Bitcointalk is using, like the rankings, trust system and the ability for different businesses to start signature campaigns. I do still think that this forum is still best but the altcoin section needs to be improved. The posters there are mostly spamming and trolling. So maybe it is good to start another altcoin forum and maintain the quality of posts there. |
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if the next financial crisis happens then people will definitely be screwed, but bitcoins could actually help prevent it
While I see Bitcoin can help people in a financial crisis, I fail to see how it can prevent one. I just cannot see that happening. The last financial crisis was actually caused by a lot of greedy bankers selling loans that were lumped together and were graded as A+, when it actuality they were all junk. They manipulated the system into getting what they want. So please explain to us how you think Bitcoin can prevent the next financial crisis. |
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I would welcome a drop to $500 or the lower $500's. I actually am hoping and wishing for it because with Bitcoin a drop in price should be looked at as an opportunity to buy more coins at bargain prices. It has proven to be a good investment and with still a lot of potential for growth. Some do not believe a $10,000 per BTC price but I do and it makes sense. It is the only way for Bitcoin to lower its volatility percentage-wise.
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I am thinking of investing some of my savings in ETC for the very longterm but first a couple of questions and I hope the answers here are truthful. How much is Barry Silbert committed in ETC and what is his role in it? I found out that ETC is his first altcoin and that could mean more success for the coin. The problem is we do not know how committed he is and what his plans really are. My second question is how active is Charles Hoskinson in the development of ETC? This will be my first altcoin so please guide me well. from what i see id say both are serious comited. charles said he will pay core develper to help ETC get a good start . he is very pro ETC he was at tai zens https://youtu.be/FjpfS-XZ0FQ there are more on tais channel thats the last one about silbert he seems very interested in slack the channel where the devs and the more active comunity members are comunicating. so i got the impression he is realy into it. i am just a comunity member but i follow it since day one. hope that helps That is good to know and I feel safe investing in ETC with knowing that Barry Silbert is also on board. I have done some research on him and I found out that he is one of the most influential people in the Bitcoin world. I hope he has something good planned for ETC and use the platform in a synergistic way to complement Bitcoin services. |
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The statement is more general but since you singled out the argument to only about escrow then let us focus on it. Escrow services = infrastructure. That is what I was trying to say. For Bitcoin to go smoothly from one hand to another without any problems of scamming from the payee and the payer, we need effective infrastructure to be made. Also yes I am aware that Bitcoin is not an AI and it cannot program its own escrow, but remember Bitcoin was also coded by a human, set up by a human and as you said humans need to vet other humans. So building more code on top of the Bitcoin protocol to make it run more effectively is needed. Isn't it the whole idea?
yep and as the title says bitcoin users are what is holding Bitcoin back, because it needs users to build the infrastructure Yes I can see that. But do not forget that not all the users are capable of building the infrastructure. Most of the users of Bitcoin are ordinary people who just want to use because it is interesting and useful to them or they think it is a good investment vehicle so they speculate in it. So it would be unfair to say that the users are holding it back. Remember without the users interested in it, it will not go forward in the first place. |
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In your whole post I cannot see how it is the Bitcoin users' fault and how they are holding it back. Escrow is a necessity to avoid getting scammed because there is a lack of effective infrastructure to make payments online with Bitcoin to go more smoothly without payee or the payer being scammed. The lack of infrastructure is not the users' fault. The same with buying Bitcoins, the infrastructure available is already good but it is still lacking.
If you also mean that it is the users' fault that Bitcoin is being held back because they are hoarding it, you are barking on the wrong tree. Look at the Bitcoin rich list and blame them. The ordinary users usually do not own more than $5000 worth of Bitcoins.
if the problem is simply escrow the answer is that as a human. a human needs to set up an escrow service. a human needs to code an escrow service. a human needs to vet other humans. bitcoin is just code. its the human need for humans to do things when interacting with humans that is the problem humans=users bitcoin is not an A.I, it cannot program its own escrow. it cannot have eyes or feet to deliver goods on users behalf to ensure its received. The statement is more general but since you singled out the argument to only about escrow then let us focus on it. Escrow services = infrastructure. That is what I was trying to say. For Bitcoin to go smoothly from one hand to another without any problems of scamming from the payee and the payer, we need effective infrastructure to be made. Also yes I am aware that Bitcoin is not an AI and it cannot program its own escrow, but remember Bitcoin was also coded by a human, set up by a human and as you said humans need to vet other humans. So building more code on top of the Bitcoin protocol to make it run more effectively is needed. Isn't it the whole idea? |
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If you think about this it is pretty obvious that the mind set and mentality of the majority of Bitcoins users is what is holding Bitcoin back and what could be the downfall of Bitcoin in the long run.
Everyone is so scared of being scammed and go to great lengths to try and 'help' others not to get scammed that it makes Bitcoin an unattractive payment method for shops to accept. Escrow is one of the most absurd things about Bitcoin - what happened to buyer beware? Now it is seller AND buyer beware as you still can't fully trust the escrow. While I accept that if I want to sell something as a new member I have to use escrow - fine for cheap items, I would not risk selling something expensive and sending it to the buyer until the funds were firmly in my possession, this is how it has always been and how it should remain. The buyer should be the one to take on the risk - they can decide not to do this and move on, that is also fine but the buyer should not be able to dictate terms to the seller, it should be the other way around. The buyer is not forced to buy.
Also the method of buying Bitcoin is tedious at best. Until we can effortlessly buy Bitcoin with a credit card - without having to make an account at an exchange, Bitcoin will not reach its full potential, I know I have spoken to friends who don't touch Bitcoin as they cant buy it as they could gold for example.
Until Bitcoin is treated like any other currency or commodity it will not become what it should be.
Stop holding it back, a few people being scammed (usually down to their own stupidity) is and can be for the greater good. I not talking about blatant theft, if someone buys Bitcoin from a new member, with no history, no trust and no proof then it is their fault.
In your whole post I cannot see how it is the Bitcoin users' fault and how they are holding it back. Escrow is a necessity to avoid getting scammed because there is a lack of effective infrastructure to make payments online with Bitcoin to go more smoothly without payee or the payer being scammed. The lack of infrastructure is not the users' fault. The same with buying Bitcoins, the infrastructure available is already good but it is still lacking. If you also mean that it is the users' fault that Bitcoin is being held back because they are hoarding it, you are barking on the wrong tree. Look at the Bitcoin rich list and blame them. The ordinary users usually do not own more than $5000 worth of Bitcoins. |
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People in bitcoin and other decentralized tech will have to make space for these identities and learn how these social dynamics affect social adoption.
I am in agreement with the general idea of your statement. But it is not that "people in Bitcoin and other decentralized tech" will have to make space. There is a space whether they like it or not. In the history of the world sex related services and products that make use of the latest technology is a sign that the technology is already being adopted. When the printing press was invented, they started using it for producing sex books, the same concept with the motion picture camera. If we finally see payments are commonly made to acquire the services of prostitutes, then in a way Bitcoin has finally made it with mainstream adoption. |
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I am thinking of investing some of my savings in ETC for the very longterm but first a couple of questions and I hope the answers here are truthful. How much is Barry Silbert committed in ETC and what is his role in it? I found out that ETC is his first altcoin and that could mean more success for the coin. The problem is we do not know how committed he is and what his plans really are. My second question is how active is Charles Hoskinson in the development of ETC? This will be my first altcoin so please guide me well. |
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What is happening with the price? I was not active here or watching the price for the last week- or two. It is still less than 600$, and it was around 600$ twoo weeks ago. Did it go up or down, or was it holding still the whole time? I hope I did not miss anything.
It has been low since 3 weeks and fluctuating between $590-$615 and there hasn't been any changes. As you say it was $600 2 weeks ago, it just increased to $611 last week and then again dropped. I am still holding for sometime and sell the bitcoins as I really don't feel it may reach $650 anytime soon. Yes but at least the volatility is going down so that is a welcome occurrence right now. We as holders can relax and plan our next steps. I can see the price to go down below $600 and stay there for a while and quite possibly until the end of they year. The only move which I think is best is to buy the dips in price because it cannot stay this low forever as I believe that long term potential value of Bitcoin has not been reached yet. That could be seen maybe during the next financial crisis I believe. |
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Wtf, I remember you saying that Bitcoin will decidedly stay under $600 per coin. Now you seem to have changed your mind and suggest to keep hoarding bitcoins as much as we can? Does it mean that what you had been claiming before was total bullshit right from the start? Or will you suggest to drop our stashes as soon as possible in the next thread you kick off?
Peeps are watching, monkeys are listening
Yes I said that. But does that mean I said Bitcoin is dead? No far from it. It was merely a speculation and like all speculations it can be right or it could be wrong. I never said that Bitcoin had no future as a protocol, a payment network or a plain peer to peer currency to transact with. Having said that we all have to accept that the price of Bitcoin can change from time to time and it is very volatile. Is speculating the price in the speculation part of the forum such a crime? Yeah, we all know that war is peace and failure is definitely a success And what are you going to say next? Why stop half way and not speculate further that Bitcoin, for example, is going to collapse to $100 in 2017? Indeed, this is not as much as proclaiming Bitcoin dead, that Bitcoin has no future as a protocol, or blah, blah, blah, but that would still be quite in line with your previous predictions and prophecies, wouldn't it? Bitcoin is listed in different exchanges and the price always moves up, down or sideways. How can someone interested in trading it not make his or her own speculations. Yes I admit that I could be wrong from time to time and I would be the first to admit that but that will not stop me or anyone else to make our speculations are predictions public even if it is right or wrong. There was a reason why the speculation part of the forum was created. If it affects you in a negative way then it is not my problem. |
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