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521  Local / Other languages/locations / Re: Slovenija (Slovenia) on: July 01, 2017, 12:40:33 PM
pozdravljeni.

sem zacetnik in sem si ustvaril racun na bitstampu. kar se tice kriptovalut mi je dokaj jasno vendar se mi pri tehnicnih zadevah ustavi (nekako sem ignoriral v lajfu informatiko in anglescina me zafrkava ker je en kup novih izrazov odkar se stem ukvarjam) torej ce sem prav razumel moram imeti en pc ki ni bil kej dosti uporabljen (zaradi varnosti) na kateremu imam wallet oz usb kljucek za shranjevanje denarja coinov?,... s telefonom pa naj bi le upravljal z nekimi majhnimi vsotami ker je nevarno imeti denar na tako odprtem? zdej sem downloadal DUO app ker zahtevajo authentication pa zgleda da z eno napravo nemores niti skenirat barcode oz prepisat tako hitro kljuc Key. ne razumem vec nic.. vec dni prebiram angleske in slo forume in bi prosil ce mi kdo to zna na hitro z enostavnimi besedami razloziti kako zaceti na varen in enostaven nacin.

upam da si bo kdo vzel minutko zame.

iz srca hvala v naprej
Lp

Pozdravljen!
Najprej moraš vedeti, da Bitstamp ni denarnica za kriptovalute ampak menjalnica. To pomeni da so tvoji npr. Bitcoini v lasti Bitstampa (oni imajo privatni ključ), in če stran napadejo in okradejo bodo vzeli točno ta tvoj denar, in ne denar Bitstampa. Torej previdno s tem!
Problem PC-ja je, ker ti lahko nekdo vdre nanj. In če lahko upravlja s tvojim računalnikom lahko tudi s tvojo denarnico (seveda imaš še razne passworde, ki preprečujejo pošiljanje iz te denarnice). Torej večje vsote je najbolje hraniti offline- hardwallet ali paper wallet.
Glede telefona si pa predstavljaj podobno kot danes, v denarnici v žepu nikoli nimaš vseh evrov, ki jih imaš v lasti. Večje vsote so shranjene na ''varnem''.

O kripto valutah boš največ zvedel, če boš sam brskal po internetu, žal je večinoma strani v angleščini, ampak zato pa je Google translate Smiley. Veliko je že posnetkov na youtube, kjer ti na enostaven način razložijo praktično vse.
https://bitcoin.org/sl/ - slovenska stran
https://www.reddit.com/r/Bitcoin/comments/6jlop4/rbitcoin_faq_newcomers_please_read/?st=j4l70gsb&sh=dad80699 - članek na forumu Reddit, če boš pozorno prebral in pogledal videe v tem postu, boš razumel vse osnove Bitcoina oz. Blockchaina
522  Economy / Trading Discussion / Re: crypto currency trading Pump and Dumps complete guide on: July 01, 2017, 10:03:19 AM
Good post OP.
Maybe this pump and dump isn't really good, but it can attract new people to blockchain technologies. And after that people realise what is behind cryptos. The most important thing is that pumped coin has good background (team, blockchain...).

Anyone has any experience in this Pumper Sharks Club, is it legit and working properly?
523  Bitcoin / Bitcoin Discussion / Re: Is this man Satoshi Nakamoto? on: June 30, 2017, 03:20:31 PM
Is this man Satoshi Nakamoto?  Shocked 
Yes he is really Satoshi Nakamoto it is seen very good from the picture it is really him. No doubt, Satoshi 100%.  Smiley
524  Bitcoin / Bitcoin Technical Support / Re: New Bitcoin Address on: June 30, 2017, 11:32:32 AM
So every wallet has one private key. You can generate many (infinite?) addresses from it, right? And this are called public keys. So when you want to receive BTC you give public key to person who will pay you. He get this address and BTC is sent to you.
Now i have some questions, if someone could explain me:
1. Who is actually getting BTC? Public address or private key?
I assume you get it on public key, but you can manipulate that asset only if you have private key of that public key. Is this right? And if yes, could you send BTC between public keys generated from same private key?
2. Are only public keys used in Blockchain to record transactions?
3. You can't really check someones full wallet if he is using more public keys? You only know how much BTC is on one public key not whole private key/wallet?
525  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Spells of Genesis - Innovating the Game Economy with BitCrystals (BCY) on: June 29, 2017, 03:23:12 PM
Finnaly some concrete information about Nova Crystalis on this forum. (Didn't have time to watch your announcement on YT.)
Whole idea sound very interesting and I'm curious how it will work.

Quote
Crafting

Thanks to a new platform code-named “Nova”, anyone will be able to express their talents and benefit from the expertise of others. For example,
a piece of music, a code or any other item can be placed on the blockchain, which will guarantee its scarcity and authenticity. We call those items
“digital crafts”. In Spells of Genesis, players will be able to create their own game levels or characters and share them with others.

Sharing

These digital crafts can be given, exchanged, or sold. They can be used as rewards, and implemented for example in a loyalty system.

You would be able to sell those things? Someone could just buy/steal that thing and sell it forward. Or is this prevented by any system?
526  Bitcoin / Bitcoin Discussion / Re: Physical bitcoin - Is this the future? on: June 29, 2017, 02:49:53 PM
Fees are only current problem. And that is the only problem this solves. But it brings many other problems or way worse solutions as BTC already have. Actually it solve another problem, that many people are practically illiterate.  Just today i read in newspaper that 30% of people from 18-65 years cant use ATMs for credit cards. They easily pay in a store with credit card since there is a cashier that helps them but they cant do it on their own on ATM.
So solve 2 problems but brings many new.
This BTC would be centrally stored and people that would owned this "bitcoins" (paper wallets) would not be able to empty wallet and thy should trust issuer off this bitcoins.
This BTC could not be divided. You would have let say 0.01 BTCs. Or maybe you could have all range of this wallets to have change back. ( so this would be doable, but would take huge amount of BTC to provide liquidity).
Why dont you try it?  Just get some BTC put them on different  paper wallet. In different amounts. 1BTC, 0.5BTC, 0.2BTC, 0.1BTC, 0.05BTC, 0.02BTC, 0.01BTC, 0.002BTC, 0.005BTC, 0.001BTC, 0.0005BTC, 0.0002BTC, 0.0001BTC. Somehow secure you dotn get hacked and someone steals all your BTC from all your paper wallets. That would be your biggest fear. Or fear of those that will hold your "bitcoins" ( paper wallets)

My answer:
Quote
If tomorrow FIAT bubble would burst people wouldn't swap to crypto currencies. WHY? Because you are paying fees which are too high and you can't buy bread with this everyday.
I think it is better for other things too. Future: You are going home from work, you see you need to refill your gas. Your phone runs out of battery and you are broke in that moment. What would you do?
Quote
Anytime you would want to convert your paper notes into digital form, you can sell that paper back to issuer and he can send you same amount on your wallet address. Or you could just sell it to anyone willing to buy.
I will probably try it, but with fever BTC.
***********************************

It would be absurd really. Satoshi Nakamoto didn't create bitcoin just to be made exactly like fiat money in the days to come. That would betray the real essence of a digital currency.
And then there was an attempt that foiled. That didn't click well. Bitcoin, as it is, has been praised and appreciated by many for what it is. Why change it, then?
Things will really go complicated if we turn bitcoin into a physical currency. The intensity might cause the entire bitcoin market to crash.

My answer:
Quote
As I have seen till now most of BTC community is totally against physical form of BTC and immediately comparing it to FIAT system.
First of all paper money is not the same as FIAT. Banks/government can make money out of thin air either it is in paper form or digital form. No one can make bitcoins! So there is a big difference and learn it! https://en.wikipedia.org/wiki/Fiat_money
I don't think it would betray the real essence of digital coin.
Quote
If tomorrow FIAT bubble would burst people wouldn't swap to crypto currencies. WHY? Because you are paying fees which are too high and you can't buy bread with this everyday.
Yes I know it would be complicated, but should we avoid complicated things, can't it become something good although it is complicated?
***********************************

No, The future isn't with physical coins IMO but with hardware wallets, which you can use in a better way than even credit cards.
Physical bitcoins are just a novelty, since you don't need a physical coins if you are using bitcoin and it would be a big step back if you consider it better than creditcards and other methods using a physical item but reusable unlike paper money (and physical bitcoins).

My answer:
Yes, hardware wallets can be really useful. But first Bitcoin need to change/improve some things.
***********************************

No I don't think so it shall happen, look at your disadvantages points, CENTRALIZED, if we all wanted it why would we use Bitcoins at all. You really haven't understood Bitcoins at all. Yes the fees are a pain no doubt about that, but that doesn't mean we shall opt to make it centralized, that would be suicidal, so for that very reason I have voted no, as I don't like the idea of this whole concept and it's very long post that you have written but there seems no real merit to support your idea, maybe others shall find different views

My answer:
As I mention it few times, yes I know it is centralized. But imagine if country would be doing this would they get any benefit from it? If they would make paper money which would be backed up by Bitcoin? For every 1000 Satoshis there would be private key directly linked with that papper and it would have 1000 Satoshis on it.
+ For everyone, you still know how many centralized system we got? And you trust them without even noticing anything? All products today all more or less centralized, you have to trust the one who is making that product: food, money, water, soap, computers... Now after bitcoin you would trust even 1 institution on whole world?
***********************************

No, this is the past and even funny to consider using physical coins with gold covering to pay for something that can be done digitally, if you ever used a new trezor you will see how easy it is to conduct a transaction with it (just scanning a QR), Paying with a physical "coin" is repetition of history, rather than the future.

My answer:
Quote
If tomorrow FIAT bubble would burst people wouldn't swap to crypto currencies. WHY? Because you are paying fees which are too high and you can't buy bread with this everyday
***********************************

I definitely do not think that physical Bitcoin is the future. First of all, Bitcoin was made to be a pseudo-anonymous currency, if we use physical Bitcoin, then we completely ruin this. Also, real life transactions bring up the risk of theft. To add onto that, it is a lot harder to store your Bitcoin if it is something that is physical. It is the same as cash, you would need something like a bank and once again, that would ruin the point of Bitcoin which is that you can be your own bank. Another problem would be that it would be really hard to use and store small amounts of Bitcoin. I just really don't see physical Bitcoin ever taking off and it is definitely more of a collectible item.

My answer:
If you would prefer you could only use digital form of BTC. You could store big amounts in digital form and use physical form of them only for small purchase.
Storing small amounts? You could get paper note with 10 Satioshis on it.
***********************************

OP, nice points.
The thing is, how are you going to trustlessly exchange private keys with physical bitcoins? Sure, there might be manufacture's stickers on a physical coin. Sure, the manufacturer is well known and the risk of getting a "dud" is almost astronomical, but the whole point of using bitcoin is eliminating these sort of things from happening. When you're receiving physical bitcoins from someone, you are not receiving something fungible. Just like paypal funds, the actual value of these funds depend on the user's trustworthiness, its origin and so on.
Unless a way is found to address this trustless issue, it's not going to become a mainstream type of bitcoin transacting method. You could think of high transaction fees as compensation for miners to provide this trustless service, in a sense.

My answer:
As I explained in one of my posts before, I think this is really big security problem (having private key on physical form). So
Quote
2. Representative money. ''Representative money is any medium of exchange that represents something of value, but has little or no value of its own. Unlike fiat money (which may or may not have anything of value backing it), to be a genuine representative money, there must always be something valuable supporting the face value represented.'' source: https://en.wikipedia.org/wiki/Representative_money.

So we make similar money as today FIAT (few security systems which prevent counterfeiting), it would have it's serial number so the institution making this money can track the paper notes and verify their credibility. What would be different is that you would actually have public key of Bitcoin address on it. On this Bitcoin address there would be exact amount of BTC as paper note is representing. Anyone could check this if he has electricity and internet. So actually every time you would buy something with that paper note shop/seller could verify that there is really BTC backing it up.
It doesn't have to be a big part of whole bitcoin system only 1% could be in physical form. And this paper notes (representative money) could be product locally.
527  Local / Other languages/locations / Re: Slovenija (Slovenia) on: June 28, 2017, 06:50:58 PM
Hvala za info. Sam nimam trgovine, ima pa kolega trgovino z rač. komponentami in mislim, da bi bila to za njega super pridobitev,
ker trenutno še nisem zasledil da lahko kje v SLO hardware kupiš z bitcoini.
Upam da je/sta dobro informirana glede stabilnosti cene Bitcoina, sploh če misli da BTC nebi direktno menjal v evre. Da se ne bo kaj takega naredilo https://bitcointalk.org/index.php?topic=1986660.msg19784451#msg19784451
528  Bitcoin / Bitcoin Discussion / Re: High school dropout who invested in bitcoin is now a millionaire at 18 on: June 28, 2017, 12:36:31 PM
For me it is a negative example. It really can become a millionaire, but it was only an accident. If he quit school, all state will be lost, the new he can not earn. One day BTC could be a bubble which burst, and start a new life he will no longer be possible.
I think this is not an example which we could learn a lot from. It's not like everyone should drop out of high school and they will become a millionaire. And this is one case of success I imagine how many failures there was. Probably a lot of ''kids'' wanted to earn a lot with cryptos but they failed.
529  Bitcoin / Bitcoin Discussion / Re: Why bitcoin is not supported in some countries? on: June 28, 2017, 12:03:38 PM
They don't legalize the bitcoin because they have a wrong information about it. That is the main reason why many governments doesn't like the bitcoin. The don't know also the purpose and the meaning of the bitcoin

Maybe they have right information about bitcoin. And they know that they won't be able to play with money anymore, so maybe that is the reason why thay don't like it.
530  Bitcoin / Bitcoin Discussion / Re: Physical bitcoin - Is this the future? on: June 27, 2017, 05:18:25 PM
On chain transactions make bitcoin worthwhile, it is not the other way. Trading private keys from hand to hand is the same thing as trading gold coins. The thing is gold has value because of its historic preciousness.

Bitcoin is no gold. If we won't be able to send bitcoins on-chain, it will only serve as Tulips. Tulips which has no real use, no value, nothing but only speculation.

If the problems about the high fees don't get solved, this is what we are going to have, another "tulipmania".

Transations would be on blockchain too, majority of them. What you are saying is like hardwallet with 100 Bitcoins is worth nothing. If I buy that exact hardwallet.
You don't think this could work in any case?
531  Bitcoin / Bitcoin Discussion / Re: Physical bitcoin - Is this the future? on: June 27, 2017, 04:50:03 PM
First of all, let me explain why I am so enthusiastic about physical form. If tomorrow FIAT bubble would burst people wouldn't swap to crypto currencies. WHY? Because you are paying fees which are too high and you can't buy bread with this everyday, because everything is digital (elderly people just can't use this, people with no computer, phone can't use it....). So If we want to make Bitcoin useful for everyday life we need to make things much better and practical. So don't get me wrong I think that whole Bitcoin/blockchain technology is amazing.

I know physical coins are already existing! But they are far from what I had in mind. Some of them are just to expensive for manufacturing. And no one hasn't explain how their security system is working (I will research when i'll have time).

And I'm not saying we should only switch to physical form, we have digital and paper money in FIAT too. But we would take reverse path going from digital to paper form. Paper money is actually very useful, easy to handle, doesn't need internet, doesn't need electricity, works every time. And again comparing it to bitcoin there are no fees for transaction whatsoever and you don't wait even a second to get transaction confirmed. (yes, BTC will get better with this, yes there are other cryptos i know this)

As I have seen till now most of BTC community is totally against physical form of BTC and immediately comparing it to FIAT system.
First of all paper money is not the same as FIAT. Banks/government can make money out of thin air either it is in paper form or digital form. No one can make bitcoins! So there is a big difference and learn it! https://en.wikipedia.org/wiki/Fiat_money

Till now i have came up with two different forms:
1. Physical coins as we know it today you get public and private key on same coin. The problem with this is security: How can we know that previous user didn't scam us or any user before him? This kind of money would be possible if we would came up with genius idea how to make really secure coin. (As described in first post)

2. Representative money. ''Representative money is any medium of exchange that represents something of value, but has little or no value of its own. Unlike fiat money (which may or may not have anything of value backing it), to be a genuine representative money, there must always be something valuable supporting the face value represented.'' source: https://en.wikipedia.org/wiki/Representative_money.

So we make similar money as today FIAT (few security systems which prevent counterfeiting), it would have it's serial number so the institution making this money can track the paper notes and verify their credibility. What would be different is that you would actually have public key of Bitcoin address on it. On this Bitcoin address there would be exact amount of BTC as paper note is representing. Anyone could check this if he has electricity and internet. So actually every time you would buy something with that paper note shop/seller could verify that there is really BTC backing it up.
So here comes the problem! Centralization! Private key would be held by institution issuing this paper notes. So you actually don't own BTC as much as you can. This would be a big downside, but I don't see it as such a big problem. One big advantage is that you only need to trust issuer of the money, not everyone who were using it before you (as in case of physical bitcoin with private key included). Another advantage could be recovering of lost money so in case you would lost paper note you could get BTC back. But I don't know the solution how this would work, because anyone could just come to issuer and say he lost money... Please give some ideas. (maybe another blockchain?)
There can be many issuer of this paper notes and if someone scam you can get another one who doesn't. This would be sorted naturally.

Anytime you would want to convert your paper notes into digital form, you can sell that paper back to issuer and he can send you same amount on your wallet address. Or you could just sell it to anyone willing to buy.

Issuer would make money with selling BTC for a bit higher price then it is at the moment of buying paper notes. He could use minimal or even zero fees (no need to hurry) to make deposit on that address which would then be represented by paper note.

So from now on please don't just tell this is stupid idea in general, give some solid explanation why it is so bad or try to be positive and find solutions for problems which occurs.
532  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Spells of Genesis - Innovating the Game Economy with BitCrystals (BCY) on: June 27, 2017, 11:08:33 AM
I do not understand anything else, a project that level should already be above @ 0.001 BTC, instead -the price is dropping for no reason whatsoever.
The prices of all cryptocurrencies are falling in theese days, it seems that all new enthusiast from last growth of BTC prices are selling their crypto. About BCY  I think it is still pretty normal price so no need to worry.

My blockchain cards are not showing in game in either the web browser version or the mobile version. This has happened to me a few times and I always worry my wallet's been emptied but they are always still in the wallet and the problem usually corrects itself pretty quickly. They haven't been in game all day today though. Is this a known bug?
I had same problem and I couldn't open Book of orbs. So probably there is the problem in Book of orbs, but I don't have any further information.
533  Bitcoin / Bitcoin Discussion / Re: Bitcoin sucks! on: June 26, 2017, 03:17:36 PM
Our experiment with BTC is over. We accepted BTC in 2 of our on-line stores and after losing hundreds and possibly thousands of dollars we are removing BTC acceptance. Stores were selling card access products and chip cards.
Simply by the time somebody buys something and gets confirmed and we manage to exchange BTC at Canadian Kraken we are at loss. So goodbye Bitcoin, going back to PayPal and credit cards only.
What? That's how it ends when somebody treats Bitcoin like PayPal, thinking it's a payments system that will attract new customers and that's it. You were a fiat store and ultimately wanted only fiat. You weren't interested in Bitcoin and didn't do any research, you just wanted more clients and a quick buck and got an unpleasant surprise. Next time don't be so greedy Wink
I agree. If you wanted to get FIAT fast you should have come up with better system. I believe there are applications which transfer BTC-dollars fast enough, so you don't lose FIAT. And you should probably raise price for users paying with BTC by 3-5%, and explain this is due to volatility of price.

Hm... it would be fun if in a few years you would write that you lost hundreds or possibly thousands of dollars because you removed BTC acceptance. You know that Bitcoin could be worth a lot more in future?
534  Bitcoin / Bitcoin Discussion / Re: What if Governments Shutdown the Internet? on: June 26, 2017, 03:07:30 PM
I do not know whether it is possible to store bitcoins offline, but in any case this is a great idea, because otherwise it simply can not have a worldwide scale.
You can store bitcoins offline, on hardwallets, paper wallets or physical form. But for transaction you need internet. If you want that transaction is recorded on blockchain.
535  Bitcoin / Bitcoin Discussion / Re: What's going on? Bitcoin for the rich only? on: June 25, 2017, 03:04:26 PM
I think the opposite. Bitcoin helps people in poor countries earn on the Internet and a little to improve their living conditions. A lot of people on earth earn 100 dollars a month or even less. Rich people get richer no matter what currency they have income. Bitcoin is not for them.
If someone earns 100$ pre month every time he transfer Bitcoin from one address to another he loses one day of work due to high transaction fees. Exactly what OP was trying to say. 
536  Bitcoin / Bitcoin Discussion / Re: Physical bitcoin - Is this the future? on: June 25, 2017, 02:57:50 PM
I agree with you, digital currency has its downsides especially until not every human on earth is connected to internet and has computer.
This idea with paper currency backed by Bitcoin is probably best solution. It would overcome many problems and people would probably get used to it pretty fast. But are there any new problems that would appear with this solution?


Well yeah.  Private issuance means there is no verifiability.  We all know how this works.  The issuer of the paper notes issues far more notes than there are bitcoins to back them up.  Their ability to issue new notes amounts to an ability to steal from everybody else ad libitum.   

A better way to transact offline is to use a bitcoin check  (private key on a piece of paper with some information).  This requires you have some trust or KYC but that's really not such an uncommon thing in most of our transactions.  Each transaction in this case winds up being put on the chain eventually, when the payee is finally able to get online...  and if they never do (or not within an agreed upon time), the payer keeps a copy and can claw back the funds. 

Yea this is a problem, could there be possible that you would actually connect paper note to public key. So you could check it anytime, and see that there is really BTC backing it up. But access to private key would only be possible if you would go to some central institution and swap your paper note for BTC.
I think this bitcoin check is far to fragile and exploitable. I doubt it would work on a large scale. You actually give him private key which is not very secure for me.

Is this really a thing, Making bitcoin physical?

For me it is like making a tangible bitcoin to be one of a fiat currency. Then you will be relying again to the centralize banks.

And if you really worry about the fees, did you already try to send a remmitances from your country to the other side of the world using your fiat currency?

Sorry for this will not happen if you think it will, it is like saying go walk to your work from your house to avoid gas fees with your car plus it is more safer because you may get a car accident in the way. Noting also that not all of the people on earth has a car to access the road but there is a public transportation right? So the fact that not all people can access the internet is so lame for me.

We must keep moving forward people, embrace the changes and don't be a hindrance or unless you will be left behind. Peace out, its only my opinion.


There must be a system which would provide us physical Bitcoin or some kind of paper notes in which you are not relying on centralize institution.

LOL, about the fees, did you even read what i wrote? I know fees are far from really high. But would you buy 0,2$ chewing gum with BTC? You would pay 2-3$ more. You pay same if you are sending BTC across the whole globe or if you go to shop across the road. This is problem which is making BTC impractical for everyday use. And imagine if everyone would use Bitcoin and every transaction would be on blockchain, it would make fees even bigger.

OK, so you went hiking to a remote place where there is no internet connection, no signal on phone... You only have BTC- in an online wallet. You come to shop where you want to buy water but you can't because there is no internet connection. So bitcoin is useless in this case no matter how stupid it sound that not everyone has internet connection. You can't buy water/food/snack... I would say to myself this bitcoin is shit, I can have 1 mil worth of BTC but i can't buy anything with it unless there is internet.
I am talking about global usage of Bitcoin, it just can't be used by anyone if we don't have some kind of physical bitcoin.

I think this is moving forward for Bitcoin, if there would be good/trusted offline way of exchanging BTC it would be more suitable to become number 1 currency in the world.


537  Bitcoin / Bitcoin Discussion / Re: Physical bitcoin - Is this the future? on: June 24, 2017, 09:39:57 AM
If in the future Bitcoin will become a widespread currency, someone will notice that being digital can be a downside, because it makes Bitcoin 100% tied to the Internet, electricity and electronic devices, unlike fiat money that can exist in many forms. Physical Bitcoin already exists, but mostly for collectible purposes. If someone will decide a physical Bitcoin for payments, they will probably get a lot of Bitcoins (lets's say 10 000), lock them in and release paper currency that will be backed by those Bitcoins. It will work just like current cash, but backed by Bitcoin instead of gold, and it won't have any problems with private key ownership that you have described in your post.
I agree with you, digital currency has its downsides especially until not every human on earth is connected to internet and has computer.
This idea with paper currency backed by Bitcoin is probably best solution. It would overcome many problems and people would probably get used to it pretty fast. But are there any new problems that would appear with this solution?
538  Bitcoin / Bitcoin Discussion / Physical bitcoin - Is this the future? on: June 23, 2017, 04:51:36 PM
I am exploring blockhain technologies for about 3 months now. So there are a lot of things I don't understand very good yet. These are all my opinions and solutions for problems I present might have been found already.

As I have seen these past months blockhain technology shows huge potential but there are still a lot of improvements needed in this technology.

One of the problems is network fees. All or at least majority of videos/presentations of Bitcoin are offering us zero or very low fees. As the Bitcoins price and number of transactions raised significantly these fees became pretty high.1 They are not like impossible high so the Bitcoin isn't affected by this too much. And for big transactions these fees are still very small. Let's say there is 3$ fee worth of BTC, if you are sending 1 BTC the fee is still nothing -> less then 0,15% (BTC price = 2700$). As I have seen there are some ideas of solving these high fees 2 but these solutions doesn't seem to satisfy whole community so some problems with this may occur.

I see two major problems of ''high'' fees.
1. It is not good for advertisement of Bitcoin and what happens is a big doubt of new users and users which operate with low amounts of bitcoins.
2. Second problem is using bitcoins for everyday use. You just can't buy 2$ thing in shop and pay 5$ for it (2$+3$ fee).
Because these two reasons I think bitcoin is far from currency which we could use for everyday and would suit everyone, from poor regions to most developed countries.

So to get to the topic:
Physical bitcoin.
Physical bitcoin would completely solve this fee problem, as you don't transfer bitcoins/satoshis from one address to another, but instead you transfer the ownership of this address from one person to another. This would increase bitcoins usage a lot, at least I think so.
Physical bitcoin should contain public key and private key. Public key must be there so you can verify balance on this coin. Private key must be hidden and you could only see public key once - and with you seeing private key, coin would become worthless. So when someone ''opens'' (check private key) coin you should clearly see it is worthless, it must be like broken or something. 3
If we get safe and practical physical bitcoins this solves few problems. I will present some advantages and disadvantages of using physical bitcoin.

Disadvantages:
1. Safety - I have come across some ''stickers'' which are considered safe. It is possible to check if someone tried to use private key 4. It bothers me what happens if someone peel of the sticker and save private key, then he apply new sticker which looks exactly the same on the outside. So the coin have completely same look on the outside. He can sell/ pass it over and he has private key. I haven't researched a lot about this, so please tell me more about this if you know
2. Centralisation - there must be complete trust to manufacturer of the physical bitcoins. He can save private keys, make ''empty'' coins and probably other things he could do to scam you.
3. Bitcoin price - You have let's say physical bitcoin worth 0,01BTC. In the moment you spend it you must check it's price, this means there must be internet connection at the spot you are spending this bitcoin. This is not really big problem nowadays in my opinion, but it is a problem. Actually only the person who is accepting this coin must know the price of bitcoin.
4. Return of change - You buy stuff worth 15$ and your physical bitcoin is worth 23,52$, so how can we make this work? Today there is still big dominance by FIAT currencies. So they can't just be canceled today. And I think we could use them very good in solving problem of returning the change. You would just simply return him FIAT currency. It would be also possible to return physical bitcoin + FIAT money. You buy thing for 15$, pay it with 23,52$ worth of BTC they can return you 8,52$ or you get back 6,52 worth of BTC and 2$.
5. Legal problems - If people would start using bitcoins a lot more, governments/banks would definitely interfere in it with some regulations, prohibitions etc. I think good concept of physical bitcoin would raise it's use a lot. So we can only imagine what would/will happen.
6. Hand to hand - You can't send physical bitcoin over the internet. The people involved in transaction must be at the same place. Of course this is not really a problem, as you can just get private key and send BTC to your digital wallet.

Advantages:
1. No fees - Only fee it would be paid would be in the process of making physical bitcoin and when you would send BTC from the physical bitcoin. And both of these fees can be at minimum, because there is no need to hurry. When you are spending physical bitcoin there is no fee required. The only fee could be from the person who receive bitcoins as payments. 5
2. Simplicity - It would finally become simple for old grandpa or grandma to use Bitcoin. No wallet, no computer, no explaining, no electricity...
3. No need to understand everything - We don't understand all the things we use everyday (how computers work, how internet works, how cars work...) but we still use them with no concerns. So it should become same with Bitcoin, we just need to make thing so simple that anyone can use without understanding it. And physical bitcoin is a big step towards this goal.
4. Good advertisement - If anyone can use BTC as payment method with ease it is very good for Bitcoin.
5. Interest - You can start to explain about Bitcoin, blockchain with something to show. Now only people who can use computer are able to operate with bitcoins. If you have something to hold anyone can start from there. This would in my opinion raise interest in blockchain technology a lot.
6. Secure - If coins would be safe (disadvantage n.1) this would be really safe currency to use. It would actually be backed with blockchain technology which we know is impossible to break, for now.

So what are your thought about physical bitcoin? Is this the future of Bitcoin?

1 Can someone post link where you could see average fees in BTC per byte over the time.
2 I don't understand technology behind this solutions yet, so I can't comment on that and predict it's effectiveness.
3 This is the idea I have about physical bitcoins, please correct me if I am wrong.
4 Is this information correct?
5 The person receiving coins can set fee. Example: Paying with bitcoins increase price for 3%. This fees are mostly set because of volatility of bitcoin, which should decrease over time so these fees will get smaller and smaller, until 0.

Please correct me, add disadvantages/advantages, answer, explain...

P.S. I don't want worthless spam in this topic. So I will delete posts which won't be constructive and make topic hard to read. This first post will probably get edited!
539  Alternate cryptocurrencies / Bounties (Altcoins) / Re: [BOUNTY][ICO] 🚀☠ SP: Age of Rust - RUSTBITS Game Economy & Trading cards ☠🚀 on: June 23, 2017, 11:50:47 AM
When will the bounty Account demo on SpacePirate be updated?
https://bitcointalk.org/index.php?topic=1907888.msg19605010#msg19605010 , 27th, in four days
540  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Spells of Genesis - Innovating the Game Economy with BitCrystals (BCY) on: June 23, 2017, 11:20:44 AM
I can not understand how people can call this a shitcoin. It actually delivers a very addictive and professional looking game....

The coin does not deliver a game.  Actually you can play the game without the existence of BCY.  You can even acquire all the game assets without BCY as you can buy them with Bitcoin or XCP.  In other words, BCY is presently quite useless as it does not provide anything more than what Bitcoin can provide.  The only use for BCY was the ICO, but it should have been burned 100% after redemption of bonus.  Also BCY is not a representation of the game's popularity as it is not an equity either.

On the other hand, XCP is not a shitcoin because XCP is needed to make Counterparty work.  XCP is also not a scamcoin as the issuance for every XCP was done through the burning of Bitcoin (unlike Omni which is a scamcoin)
You are right, you can play SoG without BCY, but you can't say they are useless and completely unrelated.
1. If the game works well there will be more interest in SoG cards.
2. If there is more interest in buying SoG cards there is interest for BCY.
3. You can't buy SoG cards with any other cryptocurrency except BCY, so we could say Bitcoin is useless Smiley (of course not)
4. I'm still new in world of cryptocurrencies, but as I see the things for now there are plenty of coins which truly are useless (only for trading), in BCY's case I think there is very good base for real need of the coin.
5. They are working with other games so you can use same card from Book of orbs in other games, which is very good for advertisment too.


"1. If the game works well there will be more interest in SoG cards."
Agree that a percentage of players will be interested in the cards.  I would guess that it would be aournd 10% of active players assuming they learned about the game outside of the crypto community.

"2. If there is more interest in buying SoG cards there is interest for BCY."
How so?  Are BCYs collectibles?  I would argue on the contrary, that SoG cards will take interest away from holding BCYs.  The sole purpose of holding BCY is to buy SOG cards, and only SOG cards at present.

"3. You can't buy SoG cards with any other cryptocurrency except BCY, so we could say Bitcoin is useless Smiley (of course not)"
Go to http://tokenrank.tokenly.com/ and input any coin on the top right side and you will see all the SoG cards that can be sold for let say bitcoins.  For a seller it makes so much more sense to require Bitcoins rather than BCY as he doesn't need to go through the exchange to get Bitcoins.  Unless of course he wants to keep BCY for future purchases of SOG cards.

"4. I'm still new in world of cryptocurrencies, but as I see the things for now there are plenty of coins which truly are useless (only for trading), in BCY's case I think there is very good base for real need of the coin."
Unfortunately, the present "need" of BCY is based on human made barriers such as creating an app that dictates to users what coins to use for what cards to buy.  However, in the case of swapbot, it is a real free market and you will notice that peer to peer independent traders prefer bitcoins to BCY or even XCP.  EDS needs to come up with a genius idea to make BCY truly valuable regardless of market speculation.  If BCY was integrated within the game, which App stores wouldn't allow, then BCY would be truly valuable.

"5. They are working with other games so you can use same card from Book of orbs in other games, which is very good for advertisment too."
Agree, and this is why i'd rather collect cards than hold BCY.

1. I once read that most of the money games like this earns comes from ''whales'' (players which spends a lot). Example: Let's say we have a group of 100 people, 95 people won't spend nothing, 4 will spend 10 BCY and that one ''whale'' will spend 1000 BCY. So total 1040 BCY and a big majority comes from one player. More players there are, bigger the chance of ''whale''.

2. We are still with that ''whale''. He downloads the game, find games interesting and want to buy cards. If he isn't really interested in cryptocurrenicies he will take the shortest and easiest way to get to cards: buy BTC, buy BCY with BTC and he will be ready to buy any card in Book of orbs. So he wanted cards in the first place, but he needed BCY to get them, so there is interest for BCY.

3. OK, you can buy with other currenices. I haven't seen this site you posted till today. But still if player of SoG isn't very interested in all this stuff he will just want to buy cards in BoO with minimum work.
 
4. I imagine things like this: There is a shop (BoO) which has only one currency as a payment method (BCY). They are selling products (cards) which you can use for having fun (SoG + some other games). This I think it is a good base for currency and there is some actual need for it. Although you are ''limited'' with what shop offer (is this what you thought?) it is still good thing in my opinion.
You can buy same products on street or elsewhere (http://tokenrank.tokenly.com/ and swapbot(?) and others) for other currencies. But still many people will prefer to go to official shop.

So are the APP stores the only reason why there are two seperated apps (BoO and SoG)? I thought it made it easier to integrate cards for other games if there is a different app for cards and games. (a person may want to buy only card for some other game then SoG).

5. Nothing to ask/add. Smiley

I may be missing some crucial information which would make my statements stupid, so please correct me.
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