So i was reading an article about someone who got robbed when he tried to buy in person 28000$ of Bitcoin http://www.coindesk.com/florida-bitcoin-sale-knifepoint-robbery/Personally i avoid dealings like this cause it is not easy to trust a random stranger. How about you?do you buy or sell bitcoins in person?If yes have you ever had any bad experiences? Only sell to people you can trust when the amount is already really high. What do you expect from the random people you transact with online? Some of them might be criminals looking for their next prey. We have a lot of those on the bitcoin scene. |
|
|
|
The fastest way of earning bitcoins is mining obviusly, but you need to invest good money on your hardware and be also experienced, but it's not good path for newbies.
i cannot agree with you, the fastest way of getting bitcoins is just buying it, though if you want to make it for free then the signature campaigns might help Okay, just buying if you have an enough capital for buy them but if you don't have enough capital for buy? I don't sure you will recommend buying bitcoin become a way to earn bitcoin. and what about mining? do you think mining is free? and don't need any capital? think think you can buy few bitcoins easily with your money. but if you want to mine bitcoin you of course need thousands of dollars to start mining. mining is not easy and not fast also. with an advance mining rig you may be able to mine half bitcoin a month. If you don't have any experience in mining it is better to buy bitcoins. That is the fastest way to earn it. So if you want to earn it fast and a lot. Then get a job and work hard. That's the way it is every where in the world for any currency you want to earn. There are no short cuts. |
|
|
|
|
What's the difference? People are people so it would not matter who uses bitcoins. Man, woman or child whatever currency a person decides to use will not matter.
|
|
|
|
|
I am curious what this project is. I hope it is something P2P or something that utilizes the blockchain somehow making his project uncensorable. But maybe it will just be megaupload accepting bitcoin payment.
|
|
|
|
|
That is looking good OP. Will this be a regular column in your school paper. It is good that people will start young in knowing all about bitcoins. Why not also educate the people about the Silk Road story and the conspiracy against Ross Ulbricht. I am sure the younger generation will find it very appealing.
|
|
|
|
|
Is Bitfinex planning to pay their customers? I have been looking around online but I see no mention of them paying back their customers. This is unacceptable. They should go after the hacker, sell assets to pay customer funds and he charged of tort law. I am sure they will be found negligent in one way or another. They are like a bank holding customer funds. Their security should be excellent.
|
|
|
|
This has been what's happening in the history of bitcoin exchanges. I wonder how BitFinex accumulated all that trading volume? They surpassed more established exchanges like bitstamp.net and BTCe in volume. Could it be that the numbers they have are manipulated by them? |
|
|
|
Yesterday when the price for bit coin gone down my friend suggested me to sell it, like :"sell it if you believe that bitcoin will not rise again", but I didn't sell it, cause of I believe bitcoin will come back on previous level. Add to that I am holding mine on Yobit and while the official price was 529$ on Yobit it was 595$ for buying and 580$ for selling, this difference confused me. Does anyone else believe that bitcoin will rise to 700$ again?
I believe so. But for now it will stay under $600 and it is possible that it will be until the end of the year. But the good thing is the buyer's market is approaching. So wait and see for good buying opportunities at bargain prices. Now is a good time to observe the price of BTC. |
|
|
|
|
They will fold I am sure. The big question is will they pay back their customers lost funds? There are signs that this will not happen because there are speculations that they do not have enough funds to pay them all. Maybe they will pay some but not all.
Can anybody post who the owners of BitFinex are?
|
|
|
|
|
I'm sorry for everyone who lost their funds in BitFinex. You do not deserve this and the owners of the exchange must be investigated. I have a gut feeling this is another inside job. This could Gox happening again.
|
|
|
|
this is the best time to buy bitcoin right now, if you are looking for profit. although it is better that you wait a while for the bottom and buy then, but anything around this level is a good profit.
No it is not. We do not yet know where the bottom is. What if BTC will fall further? This is a very dangerous time to buy. It is much safer to observe and then patiently wait for a good time to buy. |
|
|
|
for about a month the price of bitcoin was stable and everyone was very happy with that and people started to believe for putting all of their money in bitcoin, and it was considered that it will be the next global currency, but now a bigger dump has started, and I think that dump is dangerous for the better future of bitcoin and its continuous happening will deny bitcoin from it success.
The dump is ok there is nothing wrong with it. That comes in the territory if you are actively trading. The reason of the dump is bad. Another exchange hacked and the coins are dumped. There are other stories that BitFinex was insolvent in the first place and the "hack" is just for show so that they could get out of a bad situation. Whatever the reason is BTC will be in the spotlight again with the media giving it a bad reputation again. |
|
|
|
Is this true? " Another obvious reason they've been insolvent for a long time is, a guy I know from one of the trading channels I'm in (Expanse dev - not franko, the other one) tried to make a 100 BTC withdrawal from Finex like five days ago and what happened? Finex canceled his withdrawal, gave him some bogus excuse, put his account on hold, and refused to let him take funds out." An exchange has no right to hold a person's BTC if he wants to withdraw it. I am wondering what the excuse BitFinex gave is? |
|
|
|
Long term bullish picture looks good. Need wait until december. I like these arcs so far. However need some more downside...  This is nice if it will happen as plotted in that chart. But usually that is not the case. We often see that the unexpected happens that's a lot of traders lose money in trading and investing. If the hack did not happen how would you plot the chart and would have foresaw the massive drop happening? I believe the answer will be a "no". Staying below $600 until the end of the year is a possibility here. I wonder how that will look like in the chart. |
|
|
|
|
It really depends on what you want to happen and what your strategy is. The ones who sold are probably either miners of big mining farms or traders selling for a profit. This means that a buyers market is coming for bitcoin because the price will be at bargain levels. Keep observing the price movement and try to see where it will be stable after the fall. Like I was saying before this will stay at under $600 for a while. Maybe even until the end of the year.
|
|
|
|
I was thinking that every bitcoiner wants a world without fiat, only bitcoins. Ok, if there was no fiat whatsoever, then where do you think will bitcoin base its value? Will it be in gold? But how much?
How do we determine the real value measure of bitcoin in an economy that has been very dependent on fiat?
If every bitcoiner wants a world without fiat then no sense to have it an exchange value to other money system. Just use the usual bitcoin transactions where value is 1:1. That is where my question lies. If the value is 1:1 then how much will I pay in bitcoins for example a desktop computer? Also how much bitcons will the merchant accept as payment? If I pay 1 BTC, will the merchant accept it? How will we know if we use 1:1 as basis? |
|
|
|
I use it mostly as an investment. But I would not mind buying some stuff for bitcoin if I see it online.  |
|
|
|
You just need a regular desktop with the fastest CPU you can afford, water cooled and overclocked. Make sure the mobo supports OC and everything else can be stock. And of course use the miner in my sig. Thanks for the assistance. What I am planning to test mining on is https://z.cash/Right now I think it can be mined only be CPU. They have a testnet and I would like to play around with mining there. Do you think it will switch to GPU mining later once a mainnet is already set up? I have noticed that most of the POW coins started with CPU mining then GPU mining later started. I have also read that the zcash developers want it only to be mined by CPU only. Is that possible? Do the coins mined on the testnet have any value? Like can they be traded for real coins after launch? I do not think so. But I want to gain experience in mining and I want to start with zcash because I think it will be the next big thing in crypto. If that will not happen then I am glad to support a project that I believe in after bitcoin. As for the botnets, he means hackers that control large amounts of hacked computers can then use those computers to mine the coin. Since hackers don't pay electric they can mine for free since they stole access to the computers. usually coins that can be mined easily with cpu make it hard for people to mine profitably with their own computers since they are competing against botnets with free electric. The 8gb ram would make it harder for botnets, users of zombie pcs that have been hacked are much more likely to notice there is something wrong with their computer. GPU mining usually eventually becomes available for all algorithms even coins designed to be CPU only. some algos like those on minergate for Monero the GPU doesn't have a real big advantage over the CPU in terms of efficiency, watts/hash. So this makes it more of a level playing field and the coin can be mined by both GPU and CPU. So it's possible that even when someone makes software to mine zcash on a GPU that it will won't kill CPU mining, they'll both coexist. minergate is pretty good, especially if you're new to mining. joblo's miner cpu-mineropt is also great it can mine a ton of different coins. I'd be willing to bet both minergate and cpu-mineropt both have zcash after it's launched.  As for hardware get a regular desktop motherboard and the most expensive CPU you can afford. When picking out a motherboard I'd look for one with extra PCIe slots so if GPU mining becomes available and you want to add graphics cards you have extra slots to add more. If you really are investing in a mining computer just for mining this motherboard is one most people use because it can hold up to 6 GPU http://www.newegg.com/Product/Product.aspx?Item=N82E16813157528A great site to pick out parts making sure they are compatible https://pcpartpicker.com/Thank you very much for all the information. It is truly appreciated. I will research more on zcash algo and I will ask further questions if there some. |
|
|
|
I was looking at https://blockchain.info/address/1Fd8RuZqJNG4v56rPD1v6rgYptwnHeJRWs Stefan Molyneux's bitcoin adress : Total Received 652.94530317 BTC Final Balance 521.24590891 BTC He accumulated quite a lot of bitcoins through donations, it will eventually buy a lot in a few years and it is incredible. Do you have other stories of people accumulating large amount of bitcoins without investing any fiat ? How did he accumulate all that bitcoins thru donations? What kind of service is he running. It has to be something very useful. No can just beg online and be given that much bitcoins. |
|
|
|
I've heard people mentioning that Ethereum won't be profitable for much longer. If so, what would the next likely altcoin to mine be? Also, what would be the best rig for a beginner miner be, in regards to an asic vs gpu setup?
I think zcash will be the next big POW altcoin. It is developed by a good team behind it. I also have been looking for more information in crypto mining and it would be nice to be pointed in the right direction. Profitability is not my goal for now but I would like to gain experience in mining. |
|
|
|
|
Show Posts
