Yet another trigger to develop consensus on the block size. At some point, people are going to get fed up of waiting for transactions to confirm. |
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This is a very interesting comparison. I didn't know that AOL tried building proprietary information sharing networks in the 1990's.  Big companies / banks may come around to using Bitcoin when it becomes successful and attains widespread adoption. |
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Keeping it idle isn't so bad your already gambling by keeping it so why "invest" it somewhere else, that's just more gambling lol
It isn't only that, there aren't any legit services out there to invest. You're right that one is taking a gamble when hodling BTC but at-least with that you don't have to worry about losing your coins to a scam. there are legit services out there. but at the same time a lot of scams. it's up to you to sieve them out Legit services can lose money too. So even if you are careful, you are taking a risk at the end of the day. Some people might not have that risk appetite and prefer to sit on their coins. |
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As a canadian personally, Im not a big fan of the idea, I think taxing btc/fiat conversions, you'll see candian adoption slow. A big part the draw of BTC is the pseudo-anonymity and lack of taxes, plus ease of moving money country to country. As soon as we start getting taxed by governments, were straying from the original idea of decentralization IMHO. (I realize MANY would argue BTC is not decentralized at all, but discussion for another day)
I don't think it will particularly slow things down. The Canadian government has just explicitly spelt out that gains on bitcoin would be taxable and they have done it way back in 2013. Even in countries which are silent on bitcoin, taxation experts would tell you that the tax treatment would be the same (treat bitcoin as an investment and pay taxes on gains). |
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How high is your credit rating on the Riders platform? I scored a 5.86  Bitcoin analysis is an attractive prospect to explore further over the coming years, as it will help provide valuable insights as to how people are using the digital currency. Some people will hold Bitcoin as a long-term investment whereas others use it as a regular currency to pay for goods and services. Riders is a new service that seeks to link some form of credit rating to Bitcoin addresses by using blockchain analysis. http://themerkle.com/news/riders-uses-blockchain-analysis-to-issue-bitcoin-address-ratings/Addresses are not meant to be reused. Does that open a fundamental flaw in their business model? People might value their privacy more than they would value a rating made by Riders. Moreover, it is possible to selectively route transactions through an address. |
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Most types of ransomware software "lock" the files on a victim's computer by encrypting them with a key that the hackers withhold until a ransom payment is made. In the early days of these tools, payment was typically made with wire transfer, prepaid cards or by SMS and mobile payments. Now payment is almost always demanded in bitcoin. http://www.coindesk.com/bitcoin-root-cause-ransomware/An article which is bang on. When ransomware has been around for more than 25 years, why blame Bitcoin? It is just that the mainstream media emphasizes the bitcoin part of the whole ransomware story, not focusing on the lax security practices of the computer users. |
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It is more than normal that the difficulty has gone down.
Just look at how much it has increased the last months. It is insane.
The price of $400-$450 does not really justify a difficulty this high.
If we stay around the $390-$420 for another month, then I can see another difficulty decrease coming.
Once people have invested in miners, they just have to evaluate the electricity cost vs the price of bitcoins they get. They may not invest in new miners, but their existing miners will keep running. Once the price increases (and people feel that it will remain that way), we may see some more investment in miners and then the difficulty will go up. |
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many reason for Customers use bitcoin, bitcoin is easy to use, low fee transaction, fast transaction but "sometimes" we need wait long time until get confirmation transaction.
what do you mean about "sometimes" in fast transaction ? what do you think. fast transaction occurs only a few times ?? and we cannot always get fast transaction in bitcoin ? Perhaps the question is sometimes impaired bitcoin transaction, permah I feel it. Yesterday monday my bitcoin wallets to the transaction pending until two days. Maybe being no damage or how I do not know. Perhaps he meant the same as it was. Well, perhaps if you increased the transaction fees, the transactions would be confirmed much quicker. They would still be lower than the fees charged by credit card companies. |
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Bitcoin is reliable as long as you are well vexed in how everything with wallets works although be warned Bitcoin has had moments of high volatility.
It is reliable in terms of being a medium of transfer. Whether it is a good investment and a store of value, the jury is still out on that. |
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Minimum capital requirement of 10 million yen. That works to $100K.
That isn't too bad. I think the regulations have a sufficient light touch.
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i think it will never .
why ? because bitcoin say . nobody control your BTC and there is no fee . so if bitcoin had bank it will had fee and somebody will control it .
Banks not only charge fees - they also provide interest. This is one reason why people might be tempted to give their bitcoins to banks. On control - I agree that we will be losing control if you give your coins to a bank. It is up to you to decide whether the interest offered is sufficient for the loss of control. |
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Mobile payments are only as secure as the wallet service is, and Apple Pay is not doing the best of jobs to protect consumer data. While many people see Apple Pay as a form of Fintech innovation, making mobile payments through Apple’s financial solution with stolen credit card information appears to be much easier than originally anticipated. Some people would go as far as saying how this mobile wallet is quite inferior to other financial technologies, including Bitcoin. http://bitcoinist.net/criminals-use-apple-pay-for-fraudulent-in-store-purchases/Apple Pay being insecure compared to bitcoin is really not news. Bitcoin is open source, and has been able to withstand the scrutiny of quite a few pairs of eyes over the years. |
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On Monday, bitcoin users were up in arms about their transactions taking a long time to be processed by the network, potentially foreshadowing dark, deeply annoying times for the cryptocurrency. In the past, network slowdowns were the work of hackers or other malicious actors. But this time, the reason for the frustration appears to be much more unsettling and banal. In the absence of any obvious spam transactions or attackers claiming responsibility, some users complained that the bitcoin network is slowing down simply because people are using it the way it’s meant to be used. http://motherboard.vice.com/read/bitcoin-new-normal-slow-confirmation-block-size-debateIf this situation persists, it is only going to result in consensus for a higher block size (maybe 2 MB). It might not be such a bad thing after all. |
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Hackers stole the encryption key to a software system at the Melrose Police Station on Thursday evening, compelling the department to pay the hackers one Bitcoin to regain control, Chief Michael Lyle told the Free Press on Monday. The attack came in the form of an email sent to the entire department around 7 p.m. Thursday, Lyle said. One person opened the email, setting off a virus that voided the department’s control of a program it uses to log incident reports, known as TriTech. http://melrose.wickedlocal.com/article/20160229/NEWS/160226126One bitcoin is not much. The police got lucky. It must have hurt their pride to pay up the ransom. |
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Interesting. The block size limits the number of transactions and not the amount, so its effect on market stability might be limited.
Bob might be able to move a million bitcoins during the panic, while Jimmy's transaction with a few mBTC might be stuck. The movement of Bob's coins might crash the market.
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I dont know what you mean by "must link my bank account". You could always just sell the btc for cash (on localbitcoins or elsewhere) to avoid using a bank acct.
Read the OP again. He is dealing in tens of thousands of dollars worth of bitcoin. It will be cumbersome to find people willing to transact such large amounts in cash. |
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Cannabis Executive Doesn’t Understand BitcoinThere’s a recent article posted on the Cannabis Business Executive (CBE) called, “Is BitCoin an Answer to Marijuana’s Banking Needs? No Way, No How.” The opinion-editorial written by the author gave certain reasoning to why the digital currency was unfit for the marijuana industry. However, it seems the journalist also didn’t do his research like so many others before him. http://bitcoinist.net/cannabis-executive-doesnt-understand-bitcoin/ Maybe the reasons why he doesn't want bitcoin implemented are exactly the opposite of what he says. Cash makes it possible for a percentage of the profits to be skimmed without paying taxes. With blockchain, that might not be possible as there is a trail. |
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When sending money, you will send from the combination of addresses that sum closest to the total you are sending. The change will be returned into a new address in your wallet.
To expand on this: There are wallets in which you can specify sending address(es) (custom input(s)) and a change address (for example in Bitcoin Core). I use this feature almost every single time when I transact. An excellent point yet I would suggest that since Alley is still learning, she/he should probably not try to use the wallet customizations until he/she is a little more knowledgeable about the workings of the wallet. As we have seen in the past, people have mistakenly sent large transaction fees with their payment and Bitcoin is unforgiving of mistakes. There are no take-backs! Alley is already a Hero and he is just learning it now?  Most hard drive wallet seem to work that way though, but sure you can set things up and i believe receiving address can just be one. You don't need to know how different wallets work to get to a hero level. Moreover, even in the case of electrum, earlier versions didn't have coin control features. It is only later versions which implemented it. |
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One possible argument against this - moving large amounts of cash out of the country is illegal. If you had a million dollars on you in cash, you would be questioned about this at the airport. Bitcoin helps circumvent all this.
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If bitcoin went mainstream, what would be the price of bitcoin?
If we assume, as I did in the OP, that mainstream is 10% of the population using it, let's divide 21,000,000 bitcoins by 700,000,000 persons (10% of the world population). The result is 0.03 btc to each person.
If we take from the 21,000,000 half that will always be hoarded or lost, we'll have 0.015 to each person. People will have to be able to buy all the things mainstream people buy with 0.015, including cars or even houses.
As you mentioned in the OP, there will be some form of fractional reserve banking, resulting in money supply multiplication. So each person might have more than 0.015. Moreover, people might store wealth in the form of real estate, stocks, bonds, etc. Not all billionaires have a billion dollars in the bank. People might just have enough bitcoins to conduct daily transactions. |
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