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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 609432 times)
oser41eric
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December 20, 2015, 11:19:36 AM


While I think NXT is good for some things, it is ridiculously slow due to how it works. Plus you're paying to list your coins for sale (or assets), which makes you be much more cautious since you can't keep re-listing to keep up with the market without losing a lot of money/time.

I dont know but NXT is pretty fast, it has 1 min block time, compared to 10min in btc, so i dont know what your talking about.

I think if bitcoin block time gets faster, then NXT will also benefit from that.

Scenarios:

I want to sell 10 assets/coins on NXT
I create a new sell order (1 NXT fee). I wait for the blockchain to confirm it
30 minutes later I realize the price is going down and I want to jump on it
I cancel the order. Wait 1m for it to finish
I set up a new order. Wait 1m and pay 1 NXT fee

(Total time to do this? 3m on average)

On an exchange:

I want to list 10 assets/coins. I input the amount/value and click "Sell"
It's instantly added to the list free of charge
I see the price going down and want to jump on it
I hit cancel. It's instantly returned to me. I re-list at the new price free of charge, instantly

Total time? As little as half a second all-in.

For someone who day-trades a lot, NXT simply isn't feasible for non-stop trading.

I totally agree with you. That's one of the main reasons I jumped off of NXT a while ago.
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December 20, 2015, 11:29:13 AM


While I think NXT is good for some things, it is ridiculously slow due to how it works. Plus you're paying to list your coins for sale (or assets), which makes you be much more cautious since you can't keep re-listing to keep up with the market without losing a lot of money/time.

I dont know but NXT is pretty fast, it has 1 min block time, compared to 10min in btc, so i dont know what your talking about.

I think if bitcoin block time gets faster, then NXT will also benefit from that.

Scenarios:

I want to sell 10 assets/coins on NXT
I create a new sell order (1 NXT fee). I wait for the blockchain to confirm it
30 minutes later I realize the price is going down and I want to jump on it
I cancel the order. Wait 1m for it to finish
I set up a new order. Wait 1m and pay 1 NXT fee

(Total time to do this? 3m on average)

On an exchange:

I want to list 10 assets/coins. I input the amount/value and click "Sell"
It's instantly added to the list free of charge
I see the price going down and want to jump on it
I hit cancel. It's instantly returned to me. I re-list at the new price free of charge, instantly

Total time? As little as half a second all-in.

For someone who day-trades a lot, NXT simply isn't feasible for non-stop trading.

I totally agree with you. That's one of the main reasons I jumped off of NXT a while ago.
However you can have NXT assets off the blockchain. I think SuperNET was listed on poloniex. Regardless of this I think that SAE has bigger volumes. In my opinion if you want to create any asset on a blockchain, NXT is the way to go.
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December 22, 2015, 12:06:45 PM

got in on Page 10 Smiley



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December 22, 2015, 12:15:02 PM

Faster block time doesn't solve anything, it only makes it less secure. Which means you need more blocks for the same security and there is much more risk of orphaned blocks or conflicting chains.
Please explain how faster confirmation times makes the process less secure?  I do agree that there are more of a chance for orphaned blocks which is not really ideal, but I do not see where it would be less secure.  I think that over time when there are more transactions being processed, there would be faster confirmations because the miners would not be waiting for more information in order to fill the blocks, but I may be incorrect about the way that process works.



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December 22, 2015, 12:37:33 PM

Bitcoin transaction speed is seconds.


seconds



10 minutes is confirmation time (actual recording on the blockchain).



Once a transaction is seen on the network (in seconds), you can be 99.99% sure that the transaction will be confirmed (recorded on the blockchain) unless you are dealing with a scammer who could "possibly" double spend.

I have traded thousands of dollars with people in person where I send the bitcoins, they see it pop up on their phone in seconds and we shake hands and go our merry way.


http://www.bitpools.com
Pool your bitcoins with others. Vote on solutions using the Bitcoin blockchain. Keep your bitcoins in your cold storage until you find a solution you like.
Links and Reviews of useful every day places to spend bitcoins: https://bitcointalk.org/index.php?topic=943143.0
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December 22, 2015, 02:51:40 PM


I think that's the most rational thing anyone has said it in this thread yet. Any increase in price at this point will be short lived and the roller coaster isn't at the end of the tracks yet. Bitcoin is so tiny still that just about anyone with a substantial amount of money can move the market. The Chinese are having good fun playing with Bitcoin right now. What's going to happen when they decide to move on to something new? We have lots of bubbles left to go.

They wont go anywhere given the capital controls there, bitcoin is a hedge against fiat, and so far fiat is getting worse and worse every day.

Capital controls, impending hyperinflation, and huge regulations. Nope bitcoin is still nr 1.




The market cap of Bitcoin is a whopping $6.5 billion. That's a tiny amount of money compared to even individual businesses, which makes discussing it as a national currency a serious fantasy. For comparison here's the amount of money that a few large companies hide off shore and these companies are worth way more than this:


And the ECB is printing trillions of euros, not to mention the impending negative interest rates that will hyper-expand the currency supply.

That 6.5 billion $ is secured, and wont lose it's value. The rest of them are getting eroded by the minute.

Other dollar bills will flee to bitcoin to avoid erosion Wink

Bitcoin is still a piece of chewing gum on the road, the dregs at the bottom of the cup. In a world where 'trillions' is part of the monetary language, we are only a blip. But, what bitcoin does have is potential; to disintermediate one of the strongest and most abused power structures of all time - money. That's why we are all here - potential. It all might end tomorrow.....

I don't think we need to worry about hyper inflation just yet. the market still trusts the central banks to lead the way and the government won't default on its debts just yet. it isn't the amount of currency printed, because much of it sits in excess reserve accounts anyway (no velocity), gathering free interest. And the public has had a shift in mindset rsulting from the trauma of 08. the money printing ends up being deflationary. I think deflation til mid 2016. maybe this time next year it'll be real - sovereign debt crisis time.
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December 22, 2015, 03:31:14 PM

Suddenly im past the confidence phase,




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December 22, 2015, 05:37:06 PM

http://astrohacker.com/ahc/bitcoin-is-the-economic-singularity/

After reading this, the scale of black market and digital economies and the effect Bitcoin will have on them I am pretty certain we are going to be very wealthy men -- even with a sum as small as 10 Bitcoins. It's just so hard to believe. We are only in the beginning storms with these significant rallies from 10 to 20 dollars. I will not be surprised to see prices from hundreds to thousands in the coming months.

The world just isn't going to be the same and we have been blessed as the pioneers.

What are you going to do with your Bitcoin wealth once your coins hit upwards of $10,000 a pop?
we are the pioneers?i love that..yes we all the pioneers of bitcoin holders,bitcoin adopters and bitcoin users. yes i'm agree,and i'm proud if one future day bitcoin will blow as global currency,and as early adopter,i'm will glad to explain what i know to every people as "wealth getelman" Smiley

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December 22, 2015, 06:05:41 PM

If anybody proved me the bitcoin is real.I am also going to mad with you by the investment.I have little confusion about this.Please help me by the some information.

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December 22, 2015, 06:34:31 PM

If anybody proved me the bitcoin is real.I am also going to mad with you by the investment.I have little confusion about this.Please help me by the some information.

What do you mean with "the bitcoin is real"? As in physical real? No Bitcoins don't exist in the real world, it's all digital, but that doesn't mean it's not valuable. Your money in a bank is just 0 and 1's, digital too, it's not backed by anything, I think you need a lot of studying to do.

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December 22, 2015, 06:48:24 PM

If anybody proved me the bitcoin is real.I am also going to mad with you by the investment.I have little confusion about this.Please help me by the some information.
First of all we can say that Bitcoins is real and can give a huge profits if you know how and where to spend your Bitcoins in any trading market. If we need to exactly what we should know then we can ask the questions point to point to figure out the answers brother. And I am too confident that all the gentleman here trading Bitcoins will get big differences in income.

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December 22, 2015, 06:50:43 PM

Once a transaction is seen on the network (in seconds), you can be 99.99% sure that the transaction will be confirmed (recorded on the blockchain) unless you are dealing with a scammer who could "possibly" double spend.

Unless, of course, we have experienced the 'ECE' of moving to a blocks-full environment. In which case your broadcast 'seen on the network' transaction may _never_ confirm.

Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.

I've been convicted of heresy. Convicted by a mere known extortionist. Read my Trust for details.
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December 22, 2015, 06:53:59 PM

the money printing ends up being deflationary.

Not quite. Money printing simply cannot be deflationary. Period. The reduction in velocity has been more than even the exorbitant money printing can overcome. The net is deflationary, but only due to the fact that the amount of deflation due to reduction in velocity has absolutely swamped the amount of inflation in the money supply.

Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.

I've been convicted of heresy. Convicted by a mere known extortionist. Read my Trust for details.
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December 22, 2015, 07:00:25 PM

Bitcoin is still a piece of chewing gum on the road...

Not that much it's already coming close to silver's market cap.

Silver is only 30 billion$ market and bitcoin is coming close to it and probably surpassing it in the next 10 years Smiley

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December 22, 2015, 09:20:12 PM

Bitcoin is still a piece of chewing gum on the road, the dregs at the bottom of the cup. In a world where 'trillions' is part of the monetary language, we are only a blip. But, what bitcoin does have is potential; to disintermediate one of the strongest and most abused power structures of all time - money. That's why we are all here - potential. It all might end tomorrow.....

I don't think we need to worry about hyper inflation just yet. the market still trusts the central banks to lead the way and the government won't default on its debts just yet. it isn't the amount of currency printed, because much of it sits in excess reserve accounts anyway (no velocity), gathering free interest. And the public has had a shift in mindset rsulting from the trauma of 08. the money printing ends up being deflationary. I think deflation til mid 2016. maybe this time next year it'll be real - sovereign debt crisis time.

Not that much it's already coming close to silver's market cap.

Silver is only 30 billion$ market and bitcoin is coming close to it and probably surpassing it in the next 10 years Smiley

That's weird.In a businessinder's article "This stunning visualization shows all of the world's money" http://www.businessinsider.de/all-of-worlds-money-in-one-chart-2015-12?r=US&IR=T
it is written that the value of all the Silver above-ground is around $14 billion.That would be only half of the value which you are stating.
Do you have any links for your numbers? I wasn't able to find any.

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December 23, 2015, 01:28:35 AM


That's weird.In a businessinder's article "This stunning visualization shows all of the world's money" http://www.businessinsider.de/all-of-worlds-money-in-one-chart-2015-12?r=US&IR=T
it is written that the value of all the Silver above-ground is around $14 billion.That would be only half of the value which you are stating.
Do you have any links for your numbers? I wasn't able to find any.

Those are silver stocks, my number is that total physical silver in the world

http://www.24hgold.com/english/news-gold-silver-bitcoin-the-money-of-the-future-.aspx?article=4335281384G10020&redirect=false&contributor=Jan+Skoyles

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December 23, 2015, 09:30:12 AM

Well these guys seem to think the price is gonna go to the moon!


Now if only NON-BTC related worldwide press would get this 'excited' on this as a 'basic truth' then I'd fire up the old record of "we're in the money"

The folk in the article (truthful thou I hope it to be) are too far in the BTC weeds to really give an 'unbiased' view imho

anyway link:

http://cointelegraph.com/news/115935/expect-bitcoin-price-to-reach-us1200-or-more-next-year-experts-say


another post of the same theme below

http://finance.yahoo.com/news/analysis-record-highs-predicted-bitcoin-080810660.html



 but somewhere in the above it is stated $4400 usd I think it was in 2017..boy I hope they are right. I'll be at 110 btc MINED and held at that point in time...with my miners
being used as doorstops....if it hits that price..they will go from 'doorstops' to a nice glass 'trophy case' with dates in use and btc and/or ltc mined lol Smiley

so want this 'drug induced unicorn 4400 usd by 2017' statement to be correct..please..please Smiley




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December 23, 2015, 09:41:10 AM

Well these guys seem to think the price is gonna go to the moon!


Now if only NON-BTC related worldwide press would get this 'excited' on this as a 'basic truth' then I'd fire up the old record of "we're in the money"

The folk in the article (truthful thou I hope it to be) are too far in the BTC weeds to really give an 'unbiased' view imho

anyway link:

http://cointelegraph.com/news/115935/expect-bitcoin-price-to-reach-us1200-or-more-next-year-experts-say


another post of the same theme below

http://finance.yahoo.com/news/analysis-record-highs-predicted-bitcoin-080810660.html



 but somewhere in the above it is stated $4400 usd I think it was in 2017..boy I hope they are right. I'll be at 110 btc MINED and held at that point in time...with my miners
being used as doorstops....if it hits that price..they will go from 'doorstops' to a nice glass 'trophy case' with dates in use and btc and/or ltc mined lol Smiley

so want this 'drug induced unicorn 4400 usd by 2017' statement to be correct..please..please Smiley





If its not @$4400 in 2017 if will be for sure by 2020 halving
Just have to be patient, it may well be higher than 4400 in  2017...if someone told people  in 2011 or 2012 my $10 coins would  be worth $1200 next year I would have laughed...
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December 23, 2015, 10:27:34 AM

If anybody proved me the bitcoin is real.I am also going to mad with you by the investment.I have little confusion about this.Please help me by the some information.

The proof of work Bitcoin uses guarantees Bitcoin is backed by something real, namely the block creation is done by mining with physical devices using electricity. Because Bitcoin has by far the highest hashrate, thus security, it is the electricity + hardware needed to run the miners which is real.

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Rizky Aditya
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December 23, 2015, 10:55:54 AM

If anybody proved me the bitcoin is real.I am also going to mad with you by the investment.I have little confusion about this.Please help me by the some information.

The proof of work Bitcoin uses guarantees Bitcoin is backed by something real, namely the block creation is done by mining with physical devices using electricity. Because Bitcoin has by far the highest hashrate, thus security, it is the electricity + hardware needed to run the miners which is real.

Exactly. This is already great proof. First of all, why does that guy even think bitcoin is not real. People have used it sooooo many times already. That guy seems really stupid.

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