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4061  Alternate cryptocurrencies / Altcoin Discussion / Re: Would you invest in Ethereum longterm? on: November 24, 2016, 08:18:06 PM
Yes I would invest in Etherum longterm because of all the alts that have been, I see Etherum as the only one with robust infrastructure and also has been relatively stable over the time. It also has potentials similar to Bitcoin where quite a number of developers can build on. I have met a great developer who has never done anything related to blockchain only etherum and its even more than a currency.
4062  Alternate cryptocurrencies / Altcoin Discussion / Re: Would it be fair to say no one actually uses any of these alts... on: November 24, 2016, 08:13:33 PM
99.99% of altcoins are just for trading.
98% of coins probably die off in the first year or two.
(I'm sure someone has the actual statistics.)

Most devs don't actually care about the coin for the long term, anyways.
They care about an ICO, or premine so they can dump on the exchange, take their profits and let the coin die off.


I agree with this position as most of the developers are only interested in the money that will come from ICO after the initial hype, then it dies off also most of them dont give it necessary support to the coin if anyone is still existing after the time frame you stated and later they will say they want to replace Bitcoin. Is that how it is done? I won't be surprised if the ones we are having now can't even stay that long.
4063  Bitcoin / Bitcoin Discussion / Re: What are the main problems bitcoiners face? on: November 22, 2016, 08:09:44 PM
The issue I have face and that have been a bother to me are as follows:

The issue of scam everywhere which no one can do anything about it once you send your funds whether knowingly or out of trust, you coin is gone no one to address the issue and even reprimand the scammer. Nothing

The number of confirmations for transactions could be annoying which should really be looked into.

Another is the popularity which is at the low point over here. Hopefully, it will improve.
4064  Other / Off-topic / Re: if you have the 10 BTC where you want to spend it on: November 22, 2016, 08:01:22 PM
10btc? Then I am a rich man. Converting that to my FIAT? I can rent an apartment for two years, furnished the apartment to taste and get a small car to cruise around town in a soft session and continue to enjoy life until I get another 10btc to replay the circle. Simple as that.
4065  Economy / Gambling discussion / Re: On BitcoinBetting.website someone converted 0.0998 BTC to 1.5968 BTC! on: November 21, 2016, 05:36:55 PM
And I want to believe that the person you are referring to is yourself but what I would ask is to what end? To show us you can win? to show us we can also win on that site thereby promoting the site? I will go for the latter but how will the site makes its own income if its having 0% house edge? or the site is just meant winning? Please satisfy my curiosity.
4066  Economy / Gambling discussion / Re: Is it a sin to gamble? on: November 21, 2016, 05:06:24 PM
For me its not a sin because I see it as a way to multiply my money and in the process I am ready to lose the ones I have with me. And I don't see anything wrong in trying to make more money. I take risks and I am responsible for such even religion gives room for common sense and I am applying mine to decide that gambling is not sin.
4067  Economy / Gambling / Re: Please research new sites before investing in them on: November 21, 2016, 04:42:21 PM
It's seems people don't like to use this new magical tool called google.
Then get screwed over then cry about it.

And that is exactly something I learned the hard way that a simple "xxx review" on google will save a lot of headache, stress, and eventually money and also no matter how much we shout and even announce it some people will still fall prey then later cry foul despite the fact that the onus is on them to do their due diligence before investing in anything.
4068  Bitcoin / Bitcoin Discussion / Re: Is there new people coming to Bitcoin? on: November 21, 2016, 04:08:19 PM
Everyday, even me I am even surprised with the rate at which the awareness is even rampant rate but hopefully it will be sustainable because without that, we are back to square-one and the increase in awareness is largely due the proliferation of Multi-level marketing that accepts Bitcoin as a form of currency in lieu of cash so if those thing should eventually crash, hopefully we can still keep some of the numbers that came to Bitcoin through that source.
4069  Bitcoin / Legal / Re: Can Bitcoin exchange be considered as money laundering? on: November 21, 2016, 03:41:49 PM
Its really going to be dicey in other to determine whether its money laundering depending on what is the benchmark to be regarded as money laundering in each country and also the applicable law on Money laundering over here money laundering will happen if you transfer as much as $10,000 equivalent with necessary disclosure so I think this would be interpreted in the case of Bitcoin of that same value in our own jurisdiction here.
4070  Bitcoin / Legal / Re: Was Vircurex ever held accountable? on: November 21, 2016, 03:35:30 PM
From everything read its obvious your coins are long gone and there is nothing any one can do about it and these are the things we will continue to face without government coming into place. In as much as Government regulation will come with some drawbacks it will still cut the excesses of all this shady exchange sites. With government intervention, I see them meeting some specific conditions before allowing to operate guaranteeing the funds of traders in addition to regular oversight on their activities thereby making them responsible.
4071  Bitcoin / Legal / Re: How can bitcoin be legalize ? on: November 21, 2016, 03:27:04 PM
Its very simple I guess it will go through the normal process of every country law making steps but for that to be triggered, quite a number of people to make that push must already be involved and at the same time, events should be happening that will also signal for actions to be taken by the government then after that a bill is forwarded to the legislative arm of government then they do their thing and then they forward it to the President to sign and it becomes law.
4072  Bitcoin / Legal / Re: Can I open up a local shop and sell bitcoins for cash? on: November 21, 2016, 03:08:17 PM
I would say its going to be based on the situation of things of in your country of residence. Over here, I see it as something not really advisable because of the awareness is still low and also give room for unnecessary exposure from law enforcement agencies who are most likely ignorant about Bitcoin to conclude that it is illegal thereby lead to series of embarrassment but hopefully soon, the situation might change.
4073  Bitcoin / Legal / Re: Bitcoin is Legal in India, What about your country? Check here. on: November 21, 2016, 02:34:01 PM
Over here, we don't really know whether its legal or illegal because the law is just silent on the matter all together so we just go with the illusion that its not illegal. Government of my country I believe they are already and still overwhelmed with the challenges we have currently so I don't see them looking the way of Bitcoin any time soon and hopefully by the time they are ready, I would have made a fortune out of the currency.
4074  Bitcoin / Bitcoin Discussion / Re: If Bitcoin was made illegal by your government would you still use it? on: November 20, 2016, 09:28:38 AM
I went for I am not sure because I wont want to find myself on the other side of law and be used as scape goat and also will not want to lose the opportunity embedded in the use of Bitcoin so what I will do is to study the implementation because there are several laws that have been made by Government of this country but only exist in papers so if this new law go in that direction, then Im back in the world of Bitcoin but if not, ( which I doubt, I want to be more careful).
4075  Bitcoin / Bitcoin Discussion / Re: Effects of Banning Bitcoin ? on: November 20, 2016, 09:22:08 AM
What we are facing now is  a situation of laws silent of Bitcoin. For those who are of the opinion that bans will not have any effect on Bitcoin are definitely not being sincere because quite a number of people wont want to find themselves on the other side of the law{ thats explain while some gambling sites and exchange sites will intentionally exclude some Nationals of some countries from using their services} according to history even though I was not exposed to Bitcoin world as at then that the price of Bitcoin crashed as a result of its ban in China which its still trying to recover now imagine the impact if about 10 countries ban it all together.
4076  Bitcoin / Bitcoin Discussion / Re: Will Bitcoin be replaced by another cryptocurrency? on: November 20, 2016, 09:12:10 AM
For my own point of view, there is nothing impossible but at the same time for other currency to actually replace Bitcoin will a long way to achieve because the actual level Bitcoin has gotten to now is not actually about the developers or the coders who knows how to develop coins but the majority of people who are actually novice in the areas of core crypto that invested alot into the project and gave its the popularity its enjoying today to actually convince those people again by any coin is actually really going to be a "long walk to freedom".
4077  Bitcoin / Bitcoin Discussion / Re: Does bitcoin help your life in daily needs? on: November 20, 2016, 09:07:16 AM
Bitcoin has not only help in my daily life but also in a great way to actually influence my financial status. It has also help to broaden my horizon about knowledge about people across borders. It has also help me in understanding the crypto world in another dimension which I am still learning. Bitcoin community in the area of financial status has been able to  generate for me a source of extra income in a stress free environment which I am grateful for.
4078  Bitcoin / Bitcoin Discussion / Re: Is Bitcoin Really The Future Of Money? on: November 20, 2016, 09:02:20 AM
The future of money is actually difficult to predict but following the trend, the popularity of Bitcoin is really expanding and even over here, the awareness is just going at a geometric rate couple with the rate of increase in the price of the community. In essence I am saying that if this trend should continue, then we are having a major shift from the traditional way of which we see money and its happening soon.
4079  Bitcoin / Bitcoin Discussion / Re: Can Bitcoin be used for Good? on: November 20, 2016, 08:56:12 AM
Bitcoin can be much used for good, but most of them prefer it for illegal needs. It depends upon the user who use it. During the past, when bitcoin was gaining popularity people preferred it for illegal needs more than the good. Now things had changed a lot than the past.

I will want to disagree with this in the sense that it is not only Bitcoin that is being used for bad things and not majority use it for illegal means also I will want to know your facts. In today's world, people are so corrupted that they will use anything so far they can achieve their objective. Even today there is no basis that it is no longer been used for bad things but for me I think the issue of bad or good is on the basis of individual level and interpretation of morality for me I will use Bitcoin for good,
4080  Bitcoin / Bitcoin Discussion / Re: Buying Drugs with Bitcoin ? on: November 20, 2016, 08:51:40 AM
Buying drugs with bitcoin is possible, if one can find a drug seller who sell drugs in return for bitcoin. Importantly now the bitcoin use in such antisocial activities have decreased a lot.

It will really be difficult to get that because in the case of drugs, there are so many regulations relating to production, prescription as well as distribution, it is a very regulated area of business. Now to Bitcoin majority of large corporations that can actually established the infrastructure that will make Bitcoin a payment system as at today dont sell on a retail basis where you and I can buy and if we are to import then it will be more expensive than converting to FIAT and buy over here.
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