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More miners join more difficulty increases as a result price should've gone much higher than $1200 but because of the recent arguments about block size and many are now wonder whether developers are competent enough or not, price has to go higher than $1500 in next 3 months or mining will be unprofitable.
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What do you care? are you the one causing their failure or you just don't like gambling services that are not taking you serious?
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If you want to get scammed very fast go for ICO and alternative cryptocurrencies education hassle, if you want to play smart and grab an extraordinary opportunity then just sell everything you've got in your life and buy bitcoins with all of it.
6 months from now you will say thanks to me.
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"Bitcoin is banned in many countries"
I see lots of newer users and even some older, more experienced and knowledgeable users on this forum say it. Where did it come from? If you hand half a brain to read Bitcoin news (coindesk, cryptocoinsnews and news.bitcoin.com are my go tos), you would realise that all recent events regarding governments and Bitcoin are mostly just anti-money-laundering restrictions, not bans against cryptocurrency.
Now you know what is funny? the reality in which no country with even limitless resources could track you down and pinpoint the exact location or link any bitcoins to you if you simply pay a few percents to a mixing service and go completely off the radar, and actually any government's agencies acting against bitcoin is because they are unable to keep track of coin owners. ALSO if anyone feels like there are junk posts being submitted you can easily ignore the users and stop acting like you all have blood that is not red  |
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Not really important where or how we found out about bitcoin, as most of the people were trying to earn some money online and they stumbled upon BTC what matters what kept us coming back day after day and staying behind the system? at least for me was because bitcoin is absolutely blind unlike fiat(especially dollar with that all seeing eye).
Bitcoin never asks you where you from or how old are you, it is just simply executing commands, pure human connection.
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Just a reminder.
From my European bank account, I can make a SEPA transfer to any other European bank account for free. No fee. Nothing to pay. It normally takes one and a half business day so BTC is faster, way faster, but that's not always the case because of the congestion. That used to be exceptional but it's getting the norm. The only way out is a higher fee, which makes BTC less appealing.
Sure, BTC remains the best option for extra-European transfers, and BTC still has the advantage of privacy by being difficult to link to one individual, but all miners and developers shall never forget there's competition out there. Banks, Paypal, Skrill... If BTC wants to be the best, it really needs to be the best.
Money is what money does. I want a SEPA account! Why bother with bitcoin just to get fast and cheap transactions? There's a better alternative for that. Artificially capping size of blocks limits the usefulness of the network. Bitcoin is not worth $100 in its current implementation, imho. You are forgetting something, no body asked you to use bitcoin and no body wants your money to give the currency the value that it has currently. you can use your SEPA good for you, can you tell me if there is a safe place more than banks to store fiat? Even when you are depending on banks to keep your money safe you are still a target for bad guys. No one forcing us to use BTC and no one can touch our coins, we chose to use it and we are still free to use other systems as well. the point for bitcoin usefulness is in it's decentralization. |
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I am amazed that they didn't do this much sooner, looks like they are starting to see the potentials of crypto(bitcoin) they know what will happen 10-20 years from now, which is bitcoin with a market cap of +$500B, thus trying to get ahead of everything and to have some sort of control over the money flow.
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You know professionals don't need to ask such a thing and when you are one you'll no longer have the time to spend on forums
when there are only 21m bitcoins and not all accessible yet, but still if price changes just $1 dollar then we are talking about at least $10m profit or loss. why 10m? because not all 16.5m coins are active or in circulation.
So you can now imagine why sometimes when price goes above $1100 it starts to drop fast? that is the big traders selling +500k coins in short period of time.
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Does gold price increase or decrease 20% in matter of one week? nope but bitcoin price does. bitcoin is only available digitally and if something were to happen it would effect all the existed coins. can you determine the exact amount of gold on earth or there might be more gold mines not found yet?
Did you know scientists now can easily produce fake (better say artificial/man made) diamonds? and who knows maybe someday in the future they could heat atoms enough to change them (fusion) into whatever element they want(like gold) but bitcoin is determined to be only 21m in total and safeguarded by the security that blockchain technology offers.
Now go on and trade your gold lol
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There are no needs for us to use bitcoin in our daily lives, like buying stuff from supermarkets and pay for coffee, because when you can conveniently exchange bitcoin for local fiat currency and use them instead why would you go all the way to use only bitcoin? there are things that we might not be able to buy online but still we can sell bitcoin to buy paypal accounts/master cards prepaid or registered only with slightly high fees.
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You haven't failed the community bitcoin  green arrow got to me, this only applies to bitcoin though and not altcoins because in altcoins you need to be worried all the time, I know people sometimes fear they might lose their money but seriously bitcoin has shown that we can trust it. It's the first artificial and digital with a decentralized network that guarantees price increase over time, even the most powerful companies could lose their share's value for instance Nokia did you see what happened to them? |
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What is a Superintelligence? how can something becomes more intelligent than it's creators? we might have AI 20 years from now but not smarter than it's creators/coders. even if bitcoin was made by an AI then it sucks at staying alive/active I mean who pulled the plug seriously?
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Can you still transfer $200M with zero fee? do you not know banks only transfer the credits and not liquid money? with bitcoin you can pay $1 to transact millions of dollars in less than 10 minutes.
Problem regarding block size if increases then miners would have consume much more electricity to mine blocks while spam transactions are included in blocks without any BTC actually moving around and the solution to avoid that is paying some high fees that is less than a dollar.
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First of all what is security yibit? I have never heard of such a thing related to yobit, did you use any bots to claim free coins? or bot to play in dice? only reasonable excuses to freeze an account are those.
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I see a lot of misinformed members here babbling the same "no one uses people not interested any more bullsh*t" well get it to your heads, if bitcoin was to fail or fade away no one would've used it in the first place and the idea behind it would've never made any logical sense to anyone and no body would've known bitcoin at all. every day bitcoin get a lot of companies, investors and new communities for bitcoin, so in my opinion it was not going to die unless satoshi really alive and back  Now that is what I call semi-moron please explain to me the relevance between a human life and success or failure of a digital currency. |
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Encryption is based on using prime numbers only and guessing the right combination of the key is like reading 1 billion numbers and words and then typing them exactly in the same order from your memory, that's how hard it is for even super computers of today to brute force a key.
However if quantum chips start to scale in Qbits and be able to for example, a pin code 3 digits and they are 371 now QC can calculate all the possible combinations in one try without actually trying them but imagine if you have 101 digits do you know how long it'll take for a CPU to put out and try all the possible combos? and the QCs that we have today aren't powerful enough to do the job.
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Sh*t happened I can't begin to understand how could someone play in a casino where the game provider designs predetermined (rigged) games? how could you ignore the ol dice with provably fair and square mechanism? I can't judge betcoin since I never played there but people say bad things about them. and you know if there isn't a thing people wont say that there is. |
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With which back up gold reserves you planning to secure your funds? with what arm forces are you going to enforce the law upon any arising issues?
You think operating a bank is like copy pasting the source code and build a wallet and then create a sh*t coin?
Who are you guys and where you come from another planet?
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I've done a few transactions and paid 0.0002 for each on of them less than 200 bytes and confirmed below 30 minutes, as much as I like to pay less fees but for the sake of bitcoin and my nerves still willing to pay as high as 0.0005 in 2017.
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Unreal how Bitcoin turned into a rich man's hobby. I know nothing stays the same, but people/companies are so greedy. Or idiots like me that stare at old wallets from 2011 with 3+ bitcoins in them and can do nothing about it.  We mined for fun back then not greed! Too bad the asic mining companies kept on doubling and doubling, tripling the power. Wonder what Bitcoin's future would've turned out if all of us were limited to 200 ghs. oh well.... May I suggest to take a look at yobit? to see what could bitcoin turn out to be if hash rate was low, all the useless alts are the best testing ground About difficulty rise and people worrying about price might not rise as well, I'd say that's not a problem because when miners see they are not in profit they will simply hold or put a fix high price and buyers decide if they want in those price ranges or not and considering the growth in adoption there will always be new bloods willing to pay whatever the sellers are offering. |
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