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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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stompix
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Activity: 2884
Merit: 6294
Blackjack.fun
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March 13, 2017, 11:55:14 AM |
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With the hardware wallets like Trezor, I would just ask. What happens when my Trezor dies down the road and the company that creates them no longer exists? Is there a way to recover my bitcoins from the seed in such a case?
If it dies in a ditch by the road and you're lucky it might bloom into a beautifull bitcoin tree from the seeds in it. |
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Elwar
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Activity: 3598
Merit: 2384
Viva Ut Vivas
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March 13, 2017, 12:13:11 PM |
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If it dies in a ditch by the road and you're lucky it might bloom into a beautifull bitcoin tree from the seeds in it.
I will plant this money tree and become rich. |
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Mervyn_Pumpkinhead
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Activity: 876
Merit: 1000
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March 13, 2017, 12:18:32 PM |
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No, because no one in their right mind uses crypto for it's utility other then gambling by trading  Only the religious people, or poor people, whose only wealth is in crypto are actually paying for things in BTC. One of the important rules with crypto is that never believe your own bullshit sales pitches  All the cryptos are currently pretty useless outside of speculative play. Maybe in the future, we will have a crypto, that is convenient enough to actually be used a practical form of payment!  I have hoped for many years already. |
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0xfff
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March 13, 2017, 12:20:44 PM |
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No, because no one in their right mind uses crypto for it's utility other then gambling by trading Only the religious people, or poor people, whose only wealth is in crypto are actually paying for things in BTC. One of the important rules with crypto is that never believe your own bullshit sales pitches All the cryptos are currently pretty useless outside of speculative play. Maybe in the future, we will have a crypto, that is convenient enough to actually be used a practical form of payment! I have hoped for many years already. I agree. Bitcoin is the only remotely useful crypto. All the other ones are just speculation. |
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European Central Bank
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Activity: 1288
Merit: 1087
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March 13, 2017, 12:24:42 PM |
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No, because no one in their right mind uses crypto for it's utility other then gambling by trading Only the religious people, or poor people, whose only wealth is in crypto are actually paying for things in BTC. One of the important rules with crypto is that never believe your own bullshit sales pitches All the cryptos are currently pretty useless outside of speculative play. Maybe in the future, we will have a crypto, that is convenient enough to actually be used a practical form of payment! I have hoped for many years already. weird. i just paid to rent a holiday house in america with bitcoin. these assholes didn't take cards. i would've had to create a dollar check and post it to america. including post, check creation and cashing it, it would've taken several weeks. instead i told them to go to bitpay and sign up. one hour later it was fully paid for. |
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Elwar
Legendary
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Activity: 3598
Merit: 2384
Viva Ut Vivas
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March 13, 2017, 12:28:43 PM |
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No, because no one in their right mind uses crypto for it's utility other then gambling by trading Only the religious people, or poor people, whose only wealth is in crypto are actually paying for things in BTC. One of the important rules with crypto is that never believe your own bullshit sales pitches All the cryptos are currently pretty useless outside of speculative play. Maybe in the future, we will have a crypto, that is convenient enough to actually be used a practical form of payment! I have hoped for many years already. If you have to keep your money in a currency that is specifically created to lose value as a feature, you're doing it wrong. Hopping back and forth between currencies is the source of most problems when it comes to crypto. |
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Lauda
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Activity: 2674
Merit: 2965
Terminated.
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March 13, 2017, 12:32:20 PM |
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Maybe in the future, we will have a crypto, that is convenient enough to actually be used a practical form of payment! I have hoped for many years already. You sound like one of the followings: 1) Employed by someone; 2) Altcoin bagholder; 3) Someone who is butthurt from missing out on Bitcoin. You have zero argument to refute that Elwar presented to you, as is, the other currencies have near-zero useful usage. Bitcoin's infrastructure is actually much wider than people think. It is missing a few key points (e.g. Amazon & Ebay), but the current TPS wouldn't be able to handle them anyway. The demand is much higher than the block supply already.
That put aside, Bitcoin is about to test >1250$ again on Bitstamp (currently $1244). |
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savetherainforest
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March 13, 2017, 12:44:13 PM |
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Maybe in the future, we will have a crypto, that is convenient enough to actually be used a practical form of payment! I have hoped for many years already. You sound like one of the followings: 1) Employed by someone; 2) Altcoin bagholder; 3) Someone who is butthurt from missing out on Bitcoin. You have zero argument to refute that Elwar presented to you, as is, the other currencies have near-zero useful usage. Bitcoin's infrastructure is actually much wider than people think. It is missing a few key points (e.g. Amazon & Ebay), but the current TPS wouldn't be able to handle them anyway. The demand is much higher than the block supply already.
That put aside, Bitcoin is about to test >1250$ again on Bitstamp (currently $1244). When we see if bears get bludgeoned with a spiked hammer or not... |
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Elwar
Legendary
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Activity: 3598
Merit: 2384
Viva Ut Vivas
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March 13, 2017, 01:04:00 PM |
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It is missing a few key points (e.g. Amazon & Ebay),
Amazon is one of the best use cases of Bitcoin. Why would you want Amazon to accept bitcoins when you can buy anything on Amazon at a discount using bitcoins? You can also buy anything on eBay at 3% off via Gyft, egifter, etc. |
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Lauda
Legendary
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Activity: 2674
Merit: 2965
Terminated.
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March 13, 2017, 01:06:52 PM |
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It is missing a few key points (e.g. Amazon & Ebay),
Amazon is one of the best use cases of Bitcoin. Why would you want Amazon to accept bitcoins when you can buy anything on Amazon at a discount using bitcoins? You can also buy anything on eBay at 3% off via Gyft, egifter, etc. It is not about the discount, and I'm well aware of the options. However, I'd like to have the option to directly pay with Bitcoin on those two websites; that's why I mentioned them. Going through that method requires an additional step that some people may not be willing to take. This is a divine intervention moment! ... When we see if bears get bludgeoned with a spiked hammer or not... Plenty of beartards panicking right now. Looks like a lot of people sold at the bottom after the ETF denial. |
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Mervyn_Pumpkinhead
Legendary
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Activity: 876
Merit: 1000
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March 13, 2017, 01:42:12 PM |
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I have been away for too long, now even being employed is seen as a bad thing here.. :/ I held the ETH bags since 1.4$, selling and buying again from time to time, making about 25x+ gain from it so far. I even made about 6x with BTC in 2013. So, I'm not exactly the worst gambler and currently DASH has gotten my full attention There we have it; altcoin bagholder. I am good with identifying the cause of people talking negatively about honey badger in a subtle way. Not sure if sarcastic or autistic.. |
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Mervyn_Pumpkinhead
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Activity: 876
Merit: 1000
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March 13, 2017, 01:44:35 PM |
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If you have to keep your money in a currency that is specifically created to lose value as a feature, you're doing it wrong. Hopping back and forth between currencies is the source of most problems when it comes to crypto.
If you hope to get rich while sitting on your wealth while doing nothing, then you're doing it wrong  |
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Mervyn_Pumpkinhead
Legendary
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Activity: 876
Merit: 1000
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March 13, 2017, 01:49:25 PM |
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weird. i just paid to rent a holiday house in america with bitcoin.
these assholes didn't take cards. i would've had to create a dollar check and post it to america. including post, check creation and cashing it, it would've taken several weeks.
instead i told them to go to bitpay and sign up. one hour later it was fully paid for.
Is this story from the book "Things that never happened" or is it a totally different story? I've also read the story about a merchant, who didn't accept CCs, but instead went right to bitpay to accept BTC instead |
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Ted E. Bare
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March 13, 2017, 03:31:30 PM |
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I know the lines are pretty random, but they LOOK relevent dont they right, but correction or bearish trend, just didnt sound scary enough. I'm sorry for your loss. RIP bears. |
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Torque
Legendary
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Activity: 3556
Merit: 5041
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March 13, 2017, 04:07:10 PM |
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If you have to keep your money in a currency that is specifically created to lose value as a feature, you're doing it wrong. Hopping back and forth between currencies is the source of most problems when it comes to crypto.
If you hope to get rich while sitting on your wealth while doing nothing, then you're doing it wrong If you think of a cryptocurrency like a fad and it's long term success or failure based purely on which direction its price is moving in the short term, then you're doing it wrong. |
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york780
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March 13, 2017, 04:16:23 PM |
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bitcoin market cap now is 79.7%. Volume is only 33 % higher than Ethereum. Whats going on ?
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European Central Bank
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Activity: 1288
Merit: 1087
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March 13, 2017, 04:18:05 PM |
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bitcoin market cap now is 79.7%. Volume is only 33 % higher than Ethereum. Whats going on ?
no etf relief? that would've put bitcoin head and shoulders above anything else in terms of perception even if the reality ain't so impressive. now they can continue with their 'bitcoin killer' narrative. |
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Torque
Legendary
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Activity: 3556
Merit: 5041
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March 13, 2017, 04:20:01 PM |
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bitcoin market cap now is 79.7%. Volume is only 33 % higher than Ethereum. Whats going on ?
Simple explanation:A lot of small time traders with mucho $$$ came wading in on the upcoming ETF announcement. When SEC said 'no' and thus no Bitcoin moon, they decided to take all that $$$ and pump altcoins instead. The fall will be a long way down for them...  |
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