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3701  Bitcoin / Bitcoin Discussion / Re: Transaction Fees are SPIKING ! on: February 28, 2017, 04:04:17 PM
All time high for the transaction fees : https://bitcoinfees.info/

Now more than 50 cts for the 3 blocks fees !

The network is BLOATED and more people want to confirm transactions on the network.
The result is spiking transaction fees that might seriously hurt the network and its growth in 2017 if there is nothing done very quickly.
If nothing is done and transaction costs keep spiking, a lot of activity will move to cheaper rising networks like DASH. I am not saying it is a bad thing but Bitcoin is NOT well positioned right now at the technical level to benefit from its rise in popularity.



I can really relate with this as at the last time I made a transfer where I had it in mind of paying less that 20 cents  and to my utmost surprise, I ended up paying 84 cents for the transfer which calls for concern and this will go a long way in affecting the sending of micro-payments if it continues to go that way. I guess since there is nothing I can really do about it, I just have to gather all my coins and transfer at once rather than doing it in bits which might be the cost of transfer higher.
3702  Bitcoin / Bitcoin Discussion / Re: Can Bitcoin be used to sent money to family in Cambodia ? on: February 28, 2017, 03:53:54 PM
I can relate with this, I live in a country where PayPal has serious restrictions for operations. Anyone having PayPal account can not send or spend his PayPal balance and it is forcefully withdrawn in the default bank account associated with that PayPal account. We need to link our credit card in order to send funds.

Bitcoin is really coming up as a great solution and yes you can use bitcoin anywhere in the world. If the beneficiary (receiver) can convert his bitcoins in local currency then it wouldn't be any big issue to use bitcoin.

Paypal thought they were being careful for restricting their services in some particular countries including mine as well little did they know they are actually pushing us to go look for other means of getting money and thats exactly what bitcoin has come to offer. Even if paypal lift the embargo against my country to start receiving payments, I wont still use because the conversion rate will still be lower compared to what I will get converting my bitcoin of same USD value to fiat.
3703  Economy / Economics / Re: Why Doesn’t Western Union or Moneygram Use Bitcoin? on: February 28, 2017, 03:05:33 PM
I actually dont expect them to accept bitcoin, because the moment that is implemented, then the fees they charged as a form of revenue will drop drastically and aside from that, for their own justification, their business is really regulated and they even exist within the confines of the law of the particular country which they are operating. Any country that does not accept bitcoin as a form of legal tender then western Union is under such rule not to accept so far its still ready to run business in that country.
3704  Economy / Economics / Re: Can we Manipulate Bitcoin price? on: February 28, 2017, 11:26:23 AM
Of course in my opinion, we can manipulate the price, afterall some people have been responsible for the manipulation both in the past and recently. But the difficulty that will pose is to get everybody to agree on a particular course of action and the volume of btc we all have in total. When we agree to that, and every one is ready to abide by that, then the manipulation is moving forward but getting everyone to do that is the impossible aspect of it which is the reason why others will agree that we cannot influence the price.
3705  Economy / Economics / Re: Worst bitcoin decision you've ever made? on: February 28, 2017, 09:11:41 AM
The worst decision so far till date I have made is when I made some bucks of bitcoin and wanted to sell to exchangers but I was greedy because of that I didnt bother to go through the normal legitimate source of making that happen. At the end, I was duped it was then I realised that the moment bitcoin leaves your wallet, its not coming back no matter what I did and funny enough no way to get back at the scammer, I just lived with my losses and learn from that excercise. Never again will that happen to me.
3706  Economy / Economics / Re: In which country is capitalism better implemented? on: February 27, 2017, 06:24:31 PM
Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. But in every country there is a different form of practice.

For example, is America and capitalism in Europe the same?
Or is the capitalism in the middle eastern countries and African countries the same?

In which country is capitalism better implemented?

From elementary economics that I learned, the father of capitalism has been USA and till today even when I am grown to really understand how countries work, I still havent see any country beat the United States. Its in that country you can afford pursue your interest to the fullest and government is taking the back role to only regulate the activities and ensure the workers are treated fairly. A country where an individual can own estates and responsibility to community is not hanging over his head just because he is from there.
3707  Economy / Economics / Re: Is it profitable to run a Bitcoin faucet in 2017 on: February 27, 2017, 06:14:25 PM
In 2017, when the price of 1 btc is more than a $1000. I wonder how much cents in Satoshi you want to be giving out every hour or minutes depending on how your site is configured couple with the number of people around the world that will be claiming all round the clock 24 hours, but it will be profitable to me if compared with the revenue that will arise from such endeavor is more than the cost aside that, I guess it does not worth it at all.
3708  Bitcoin / Bitcoin Discussion / Re: Does any bank accept Bitcoin? on: February 27, 2017, 06:09:27 PM
From here to the other part of the world, I dont think any conventional bank will accept bitcoin as a form of currency because as at now, their infrastructure is not designed for such purpose and if they will adopt bitcoin it will mean a fundamental deviation from what is on ground which cannot be possible without government backing, until then, I guess the only thing they can do is provide support for exchange sites serving as short term banks currently.
3709  Bitcoin / Bitcoin Discussion / Re: It's freaking 2017 - Do you own 1 BTC? on: February 27, 2017, 05:59:39 PM
I voted NO because currently, I dont own a BTC and its largely due to the fact that I got involved in this world not too long ago to be enough to gather as much as 1btc and the price of btc is not even helping matters for me to be able to afford that much. Aside that is the fact that my area of specialisation is not what is being sold here as a form of service so I am left to start learning new skills and hopefully after a while I can gather as much as that within little time frame.
3710  Economy / Economics / Re: Why Should I Choose Bitcoin ?? on: February 27, 2017, 09:07:04 AM
There are several reasons to believe in bitcoin like everyone else and at the same time you have to choose the one that appeal to you most because not everyone will choose something because of a particular reason. In my own case, the reason I believe in bitcoin is nothing other than the fact that it makes it possible for me to earn amount for services rendered with little or no difficulty and that is enough reason for me.
3711  Economy / Economics / Re: Is trading just educated guessing? on: February 27, 2017, 08:40:06 AM
Can you really be sure you will profit unless you have insider info?

Educated guessing, I will agree with you because for someone to make an educated decision then you must have gotten education and the process is not one that is cheap and in the case of gambling, it means thorough understanding and learning of how stocks work, how to know the right time to buy and sell, even insider info is another source of education because being in the right place at the right time is also another form of educated decision.
3712  Bitcoin / Bitcoin Discussion / Re: where can i buy and sell bitcoins at cheap cost on: February 23, 2017, 02:11:12 PM
please its there any place i can get cheap btc and start selling and buying everyday.i will purchase at least 1000$ a day

Bitcoin any where these days is no anywhere cheap and I dont think it will maybe when a country like USA or China bans bitcoin then we can then have a price crash then subsequently it becomes cheap then you can buy as much as you want. But even currently, what is cheap to you could be expensive to others and if you are ready to take the risk, with the current trend, the price today could turn out to be cheap compared to what the price will say next week.
3713  Alternate cryptocurrencies / Altcoin Discussion / Re: How to Earn Ethereum ? on: February 23, 2017, 01:25:27 PM
Its really something not ideal enough that there is no way to really earn ETH without going through the nose. I have tried the faucet and its just nothing to write home about, then I abandon it. Not even a forum to the best of my understanding despite all the hype as an alternative to bitcoin and all sorts of developers improving on. I guess all others cryptos still have a long way to go if they are really serious about matching up with bitcoin.
3714  Economy / Gambling discussion / Re: How Reliable are Bitcoin Casinos? on: February 23, 2017, 11:41:32 AM
How reliable are these casinos and are they likely to scam?

Casino sites reliable? That will be a myth in all sincerity as they can only do that to the extent of the losses they can afford to incur as well as to the extent at which some one has not taken the bull by the horn to actually verify them. Majority of them have been able to put their house in order and any one that wants to raise an issue is quickly settled so no issue is raised. As much as possible, I will only play with an amount if lost, I dont have to feel anything as that is the best way to go about it.
3715  Alternate cryptocurrencies / Altcoin Discussion / Re: Bitcoin vs Monero on: February 23, 2017, 11:21:49 AM

In the last days you hear a lot about Monero.

Especially in the Deep Web.

There are people who claim that it is more anonymous than Bitcoin.

That transactions cannot be crawled.


MONERO

https://getmonero.org/


 Huh  Huh  Huh  Huh

Is this it?

What do you think?

The reason why people are using the two or why one is preferred than the other to me is more of a personal reason  and nothing else. For someone whose only needs is to have a crypto currency to transact with and also to be able to meet its exchange in little time I am sure will go for bitcoin any day, compared to someone who is very much involved in deep web activities or always trying to stay anonymous without leaving any trace whatsoever, will likely tends towards Monero and I am sure in few months another crypto will still come to be more anonymous than Monero then we all then move on again.
3716  Bitcoin / Bitcoin Discussion / Re: After 21M have been released, then what? on: February 22, 2017, 05:40:28 PM
So, I've been doing a bunch of research and trying to find the answer to this question.  Keyword searches have failed to find anyone discussing this topic, but I would imagine it has been discussed in the past.  Looking to be pointed the right direction here.

After all 21M bitcoins have released to the public (miners), what incentive will miners have to continue the mining process?  

The answer to that is very simple it means that the price of bitcoin will sky rocket and the miners will have to make more money by charging higher transaction fees and for those who are having enough bitcoin kept will make enormous wealth. Aside from that, other alt coin will now be a favorite as it will now be the one that is affordable by people who want to trade crypto-currency which in this case bitcoin will no longer be affordable.
3717  Bitcoin / Bitcoin Discussion / Re: Mexico and Bitcoin on: February 22, 2017, 04:56:44 PM
Most of these news from the way I see it are very much far from the reality and also the editor tries as much as to paint the scenerio in a way that will attract visitors to the site without really getting to push out the expression of the messenger. From the way it made it seems like its all Mexican that just decide to start buying bitcoin whereas in the real sense only few percentage of the population who cares how the money market and the exchange rates work are the one being referred to here.
3718  Bitcoin / Legal / Re: Money laundering via BTC on: February 22, 2017, 04:46:45 PM
Is it possible to do money laundering via bitcoin? I mean as no one knows if you have bitcoin and how much bitcoin do you actually own, it could be used to convert black money to white right? Or at least store your black money without much hassle. But there is the risk of its value but I think for people who have lots of black money and don't want to be caught, this risk might be worth taking for them isn't it?
What are your thoughts?

Money laundering via btc is very much possible even those us buying and selling it could be intepreted to mean money laundering even though the volume is not much if government wants to go to the extreme in discouraging the use of bitcoin and its because money moves without declaration and thats exactly btc is all about. Also, one of the reasons for the clamp down on exchanges in China and other countries simply because of the issue of money laundering at least one valid reason they have got against bitcoin.
3719  Economy / Speculation / Re: How Will It Affect The Bitcoin Price, If Satoshi Tell The Truth ? on: February 22, 2017, 10:28:11 AM
If Satoshi Nakamoto tell the mysterious truth about his Bitcoin and Blockchain invention and all the secrets to the media, how will it affect the Bitcoin Price ?

From where I stand, I dont see any way how it will affects and even if it will, it will just be mild and wont even create unnecessary tension that are likely to surround that and the reasons from my end is because bitcoin today has grown to a level where the people exposed to it in the earlier years cannot envisaged as at the time. Another is that even if he comes out, quite a number of respected personality in this crypto-world will still cast doubt on the authenticity of his claim and the time to do this will reduce the impact it would have had in the first place.
3720  Bitcoin / Bitcoin Discussion / Re: The BitCoin Cause on: February 22, 2017, 09:49:27 AM
So I saw many threads on will bitcoin be used by common people or when it will be used by all over the world and for buying groceries etc.
But I wonder, was bitcoin actually meant to be used like that? What was the actual cause for creating bitcoin? And for whom it was meant to be?
Any facts or thoughts?

From the what I have read and even following how events have unfolded, I have a believe that bitcoin was intended to function as a currency and because of the issues that arises with that, thats why people start having a doubt concerning the subject matter. In the early years of bitcoin, I have read how a large number of coins will only be worthwhile to buy a pizza but same is not happening today. So if that can happen in the early years, then there is no doubt that the use of bitcoin as a currency has been even before this time.
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