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Messages - emma.lee1890

Pages: 1 [2] 3 4 ... 33
16
Mining is DEAD, and its not coming back, difficulty will remain high, because 100K S-9's in CHINA will be re-deployed as $10/ea space heaters. Re-purposed for the pure purpose of mining for 'pristine' keys, not handling transaction.[ Billions of dollars of Pristine 'satoshi' addresses, still wait for some lucky person to crack their key; The best part is all these addresses include public-keys, which makes the DLP problem super trivial/easy to solve when a HUGE number of servers are at task. ]
With no incentive to run full tx-index servers, and no incentive to handle transactions, what is the hope in the future of bitcoin transactions?

ZenCash has a good model, of paying people in Zen to run secure-nodes, and super-secure-nodes, but I don't see any incentive for running transacction servers in the bitcoin world, Difficulty will not go down, but people will be people, and given that you can't mine properly there is no incentive to process transactions, the only utility is running an S-9 as a space heater and hoping it find a bitcoin every two years, at the current difficulty.

The original idea of Satoshi's bitcoin, was that everybody ran a full-node and processed transactions, and every 10 minutes, somebody found a block, and by consensus +51% that block was accepted, and that user-address got credited and validated in time. In the future, most of the re-deployed S-9 miners ( and all the clones and earlier versions ) will be redeployed to scan for 'lost pristine' satoshi coins, which are where the REAL MONEY is at, the CHINESE are not stupid, what's the point of running a space heater to maybe find a bitcoin, when you can run the heater as a LOTTO, and maybe get 50 bitcoins.

So what's the plan by BITCOIN-CORE community here to address the issue, we know there is a scaling problem, we know that the current bitcoin server network can't handle traffic, so how in the hell is all this going to work in the near future where MINING IS NO LONGER PROFITABLE, like it is now.

17
Bitcoin Forum / Money Laundering started with banks not bitcoins.
« on: December 01, 2018, 01:31:15 PM »
The people in Banking industry have long associated Bitcoins with money laundering, from calling it a bubble to linking it to terrorists money they did everything in their power to destroy bitcoins. Today it's been proved that money laundering happens due to banks, was happening before bitcoins came. Deutsche Bank has been raided for money laundering, and it's pertinent to note bankers from this bank had said bitcoins is used for money laundering. It proves that fiat money is and always will be used for money laundering, it's time to stop the witch hunt against bitcoins. #ItrustBitcoinsoverBank.
Yes money laundry started with the banks and will ever be in the banking sector. Moreso, bitcoin just came in compared to ages that the banks have been into existence and have been in this laundry of a thing. I can say categorically that money laundering is only done in the banks and not in cryptocurrency..

18
Well, crypto is still in the transforming phase and we are not yet matured that enough to have that self-sustaining financial ecosystem. This is the reason why big whales and institutional investors can easily manipulate the market even without a high amount of capital. This is the reason why influencers are getting handsome amount of commission to promote crypto-based projects. However, this situation will definitely improve over the period of time along with the improvement in the mass maturity of the users. You'd be surprised how many innocent people who worship their idols like a God will believe and hang on to their every word. Even though they are basically lying to their faces, like DJ Khalid and Mayweather, fans will/might still believe them because "they said it". Especially if you are unaware of cryptocurrency and how it really works, if you see your idol "endorse" it, chances are you will believe them.
DJ Khaled and Mayweather had an issue about shilling an ICO. And other celebrities hyping or promoting scam coins. Who would actually rely on their words? If you're listening to celebs then you are not ready for this type of market at all.

19
Bitcoin Forum / Is Bitcoin for the people or for the corporations?
« on: December 01, 2018, 01:19:09 PM »
When Bitcoin and other crypto-currencies first came out, everyone were saying that it was for the people to get their financial freedom. Now, it seems like it's being taken over by big financial institutions. Should we be worried? Bitcoin was largely created to serve as a currency which will facilitate easy payments and also enhance the payment systems of businesses, companies, institutions. If it is now being taken by these big corporations, it means a Bitcoin is still on track and achieving its purpose. More companies will soon integrate it into their payments once there is a competition set between the companies using Bitcoin and the non-using companies. I think there's a lot more of the "people" holding and using bitcoin than you realize.  It does seem like lately a lot of news surrouding bitcoin has a corporate side to it. I think that is more so to do with all the talk around corporate finance and ETF's.  Bitcoin and cryptocurrency has been a hot topic in the financial industry and fiancial coporations have all gotten in on the craze one way or another, even if it's that they denounce it's use/mertit.

I simply don't thinik individual use by the every day person is very newsworthy at the moment, so you just don't see or hear it being reported..even though it is going on.

20
Bitcoin is fundamentally flawed, we all know this yet we keep focusing on the price. Bitcoin was intended to be a p2p, cutting out the middle man, yet we treat it like a stock. If Bitcoin were to be a reporting company by god knows how, it'd have to file for reports, 10k's,  quarterly, anually, the whole 9 if you're familiar with the financial realm.
Bitcoin is not a fraud, it's the individuals (smart money/wall st) manipulating it for the greed of money.
Not all of "us" are keeping up with the price of Bitcoin as if it were a stock. There are those of "us" that use Bitcoin as intended to purchase things and use it as it was intended. Try to keep that in mind when using "us" as a collective. There are a bunch of noobs that are treating Bitcoin as a stock, especially after 2017. But it's up to those that know what Bitcoin is and how to use it to educate the uninitiated so that the "mass adoption" phase can kick in correctly and not the way that wall street and the banks want it to. Yes the "smart money" and banks are controlling the PR piece and touting Bitcoin as more like a stock, that's where the uninformed come in and try to get a piece of the action. When they "lose" they feel that Bitcoin isn't worth anything and then they get out thinking that Bitcoin and cryptocurrencies are nothing more than another tulip mania.

21
Universities are embracing accepting bitcoin for tuition, with Lucerne University of Applied Sciences and Arts in Switzerland the latest school to adopt. If anything, it's another clear sign the cryptocurrency is here to stay. Even so... Bitcoin has been used to buy homes, and countries like Venezuela and Vietnam are beginning to truly embrace the currency. Now, certain universities are adopting the payment method of bitcoin for tuition, albeit with a few caveats. This is a good news for people who have lots of bitcoin but I don't think they have financial problems for them to be using their bitcoin. And as for me who is investing on bitcoin hoping to be rich someday I dont think I'll be using my bitcoin cause it will defeat the reason why I hodl bitcoin.

22
Banks & Cryptos / Why are banks and governments scared of Bitcoin?
« on: December 01, 2018, 09:35:36 AM »
Bitcoin is basically a threat or a big competitor for banks nd government. Bitcoin brings fair opportunities for common individuals. Anyone can join and invest for as long as he is intetested and he has the capital. Also the transaction is open to all it is hassle free safe and convenient compared to bank where every transactions is in constant scrutiny. This is the reason why bitcoin becomes popular and widely use by many people all over the world and with this banks and government are seeing bitcoin as a threat and a competitor especially that they cannot control nor profit from it. So many countries now were prohibiting the use of virtual cryptocurrencies. And to think that many unemployed individuals were beginning to uplift their way of living because of their dealings with cryptocurrencies. Banks doesn't expressly say why it is banning the use of Bitcoin.
What do you think is the reason behind this?

23
Bitcoin Forum / Bitcoin Insurance Company
« on: December 01, 2018, 09:29:47 AM »
I dont know how a bitcoin bank would work but a bitcoin insurance company might be something to pursue.The idea is that premiums are worked out based on the risk of losing wallets and the rate of fraud with paypal chargebacks and other calamities that could cause a loss of your wealth. You would pay a premium each month and cover a set rate of any losses you suffer.

Would you pay an insurance premium for such a service with bitcoins and what measures would the insurance company need to take to protect its members from fraudulent claims ?

24
Bitcoin Forum / Will bitcoin Die because of global Regulations?
« on: December 01, 2018, 09:23:43 AM »
Hi,

I don't think this will lead to the death of crypto-currencies... but indeed it is worrying.
It is also quite logical because many governments are aware that bitcoin (and other crypto) can be a threat to the centralized control banks currently have. Here, the list you are giving simply shows that now they are aware they must act. Internet and technical tools are evolving faster than most regulations. So they are lagging behind, they understand it may be a problem, so they try to react. Eventually, if transactions from fiat currency to bitcoin (and other crypto) are simply banned... Well indeed, it will become quite hard to use it. However, quite luckily this will take time. So it is up to us to anticipate this and react consequently!  A gloomy day with crypto market, red overflowing bulletin board.
I think this is a difficult time for investors because the law is changing day by day. But for those who want to hoard this is a good opportunity to buy

25
Because Bitcoin is sort of like "the mother of cryptocurrency" where every of its child follows its rise in the market. Most holders tend to store their crypto investment in Bitcoin because they believe its volatility will cause high price. As the other coins rise, they tend to buy with Bitcoin also through exchanges because of its high price. Due to high price of Bitcoin overall, they can invest a lot in lower coins that also contains the potential for its price to rise up. Now that Tether is being used as security asset for profits and more various purposes that correlates in Bitcoin, Bitcoin is now gaining more adoption all around the world. Crypto market is quite complex. Bitcoin can rise constantly now or flatten itself in a margin because various investors are focusing on other coins.  It could be either go into your said "healthy market" or it could be the dominant market itself that will kill all other coins but that is quite impossible because Bitcoin isn't perfect as any other currency. There are currencies that have a unique feature that BTC doesn't have.

26
Cryptocurrency in China is gaining high popularity as the government is revising the projects ranking from time to time. In the second run of the rating, there is an addition of two latest crypto projects. In the overall list of 30 virtual projects EOS tops the list leaving behind Ethereum to second place and Bitcoin on 17th position. The system is termed as Global Public Chain Technology Evaluation Index which includes crypto and blockchain events. They are ranking these coins based on centralization and the control they can have over them. Ethereum has been the most centralized coin and they plan on fully controlling its future specially with the creation of ETH ASIC machines for mining it they will soon control 100% of the mining power also and will dictate the future of it.

27
Many people are talking about a short squeeze coming but for now we couldn't even break 6600 in the recent bounce back, which isn't even a significant resistance. On the way down we broke it almost instantly, like it was never there, but now we've bounced back from it, which is a huge bearish indicator. If we go higher or trade sideways for long enough the short squeeze will have to come, but there's so much fear in the market that we could as well retest 5800.
As the ratio of Bitcoin shorts to longs hits a yearly high,
will a short squeeze move the Bitcoin price up dramatically?

28
Bitcoin Forum / Bitcoin Media
« on: December 01, 2018, 08:56:26 AM »
I am not absolutely beyond any doubt about national monetary standards but rather risk in work is completely conceivable to happen. In reality it is going on right now in the present situation. I've known many individuals who left their consistent activity coz they are as of now gaining such a great amount of cash here contrast with the amount they earned on their activity.

Not by any stretch of the imagination. There is this misguided feeling of self-esteem individuals have when they are a piece of something significant or fruitful... You could be on an extensive Facebook gathering and believe it's the focal point of online World... on the off chance that you move around you'll find there are much more essential gatherings on Facebook.

You could be a representative of a bustling bank you believe is so well known, you drive to a near to road to find that most don't have the foggiest idea about the bank exists. Same as Bitcoin... the vast majority don't generally know Cryptocurrency/Bitcoin exist or aren't intrigued... They could simply be alright with where they are or with what they as of now have.

Discussing Cryptocurrency being a risk to employments, well on the off chance that you quit your activity for Crypto another person will have your spot. On the off chance that you Close down your Poultry cultivate for Cryptocurrency your rivals will have more clients to pitch chickens to.

So no activity will be lost if there is solid interest for the activity or items.

29
Bitcoin Forum / What's the most stupid comment you've heard about bitcoin?
« on: December 01, 2018, 08:51:01 AM »
People tend to get quite confused with all this fancy crypto stuff and confused people tend to say funny things when they try to act competent. So, what's the most stupid thing you've heard about bitcoin recently?

30
Bitcoin Forum / Maybe the future of Bitcoin is in Loyalty points
« on: December 01, 2018, 08:46:11 AM »
Maybe Bitcoin instead of going full mainstream currency needs to enter the masses through loyalty bonus point type programs. Loyalty points were really the original virtual currency....it's a lot less intimidating to the average user to collect 'points' or tokens and redeem them alongside normal fiat pathways.  Say Starbucks gave out digital crypto points with a purchase made through your cellphone or credit card. Starbucks can firstly have tailor made loyalty program that normally is wasteful and inefficient and customers have then used cryto in a way that means they almost don't need to know its Bitcoin.
There are alt coin projects like Coval moving into this area but maybe Bitcoin needs to enter the masses counciousness through the backdoor of loyalty programs? The loyalty industry is btw worth 70 billion annually so it's not a small thing.

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