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Showing 19 of 19 results by DerKorb
Why would anyone want to factor in unimportant stuff like say merchant adoption, regulatory acceptance or risk of loosing your funds. If i did not know about bitcoin and i would see this, i would have the instant feeling you are trying to rip me off.
Re: ALTCOIN DETECTIVE BitsharesAGS and BitsharesPTS(protoshares) --- Faking Volume?
I was also quite supprised to read so much negativ feedback here. If you are regularely listening to letstalkbitcoin and you don't think the whole show is in on it, you hardly get the impression of this beein a scam.
What do you base your claims on except your gut feeling?
If you watch the price of pts you will see it didn't explode after the ags donations were opened at 1.1.14, but it constantly dropped from above 20$ down to 10$ until it started recovering recently.
In times where shit like mtgox is going on people see value in the idea of a distributed exchange and similiar projects and they put their funds into it. Also the pts are not taken from the market, but Invictus very actively uses them to develop their software.
What do you base your claims on except your gut feeling?
If you watch the price of pts you will see it didn't explode after the ags donations were opened at 1.1.14, but it constantly dropped from above 20$ down to 10$ until it started recovering recently.
In times where shit like mtgox is going on people see value in the idea of a distributed exchange and similiar projects and they put their funds into it. Also the pts are not taken from the market, but Invictus very actively uses them to develop their software.
as he did win that money from the site before in a winning streak they did not realy "make" 6k btc that day. it was just a long series of probabilities ending in the expected outcome. the only money moved was his initial bet.
Re: Bitcoin network cost is OK now, but may soon be hugely wasteful
I think this is a very good question and although many here state that 1 Million per Bitcoin is to much or mining will get more efficient etc it does not change the basic facts:
Miners will allways spend roughly the equivalent of the coins worth for mining. Because if they spend way less it would be so profitable that other will join up to the point where it isn't. A considerable portion of it will be spent for energy.
Energy consumption of the network already is quite huge and probably way more than would be neccessary (i'm no an expert there but it does not look reasonable).
Assuming bitcoin continues its considerable growth we don't have to wait until it hits a million. Each growth in value by factor ten will also be followed by a similiar growth of energy consumption. The question is does the block reward shrink fast enough to counter the growth in value?
Miners will allways spend roughly the equivalent of the coins worth for mining. Because if they spend way less it would be so profitable that other will join up to the point where it isn't. A considerable portion of it will be spent for energy.
Energy consumption of the network already is quite huge and probably way more than would be neccessary (i'm no an expert there but it does not look reasonable).
Assuming bitcoin continues its considerable growth we don't have to wait until it hits a million. Each growth in value by factor ten will also be followed by a similiar growth of energy consumption. The question is does the block reward shrink fast enough to counter the growth in value?
Re: The PRICE is the VALUE! The Value of Bitcoin EXPLAINED. (really)
While i generally think this is an interesting point of view, there seems to be one huge flaw with this logic.
To mine gold you need a somehow fixed amount of effort.
The effort to mine bitcoin instead is dependent from the amount of people trying to mine bitcoin.
Higher price of bitcoin -> more people mining -> higher difficulty -> higher cost of hardware -> higher price of bitcoin -> repeat
It is more likely it's the other way around: price of bitcoin dictates how much effort and money people put into it.
To mine gold you need a somehow fixed amount of effort.
The effort to mine bitcoin instead is dependent from the amount of people trying to mine bitcoin.
Higher price of bitcoin -> more people mining -> higher difficulty -> higher cost of hardware -> higher price of bitcoin -> repeat
It is more likely it's the other way around: price of bitcoin dictates how much effort and money people put into it.
For nearly everything the price dictates the amount producers are willing to make and sell, not only for Bitcoin. Using your example of gold, if gold was to fall to $1 overnight for some reason (highly unlikely but this is theoretical) I would guarantee you that all the gold mines would at least temporarily stop production as it is no longer viable and profitable for them to do so. So basically it holds true for nearly everything that the price will affect how much "effort" producers are going to go to.
Re: The PRICE is the VALUE! The Value of Bitcoin EXPLAINED. (really)
anyone who shouts out bitcoin has no value are simply metal hoarders that are getting hurt because the customer base that they use to sell their metals to at a premium are now buying bitcoin..
thats the more simple answer.
bitcoin has the same value as investment gold.(not to confuse with the intrinsic value of manufacturing gold)
initial price is set by the costs of mining the gold (excavators, sluice machines, labour, transportation, storage, security)
bitcoin is similar. bitcoin miners spend alot of money on equipment, electricity.. and added to that the time.
say a bitcoin miner had free electric, free mining equipment. but no other job. if it took 2 weeks to make a bitcoin. he would still only sell his bitcoin for a price to cover 2 weeks of living costs. EG $300.($150 / week minimal living cost)
now add on price of electric for the miners that dont get free electric. this may equate to $60.
now looking at the difficulty. the cost of equipment to be able to mine a bitcoin in 2 weeks is about the same as a 4 module avalon averaging $2000. and knowing that every difficulty increase over the last 3 months as been near 40% lets say that the miner would be required to buy a new unit every month($800 at 40%). just to break even.
so lets combine it all $800+$60+$300=$1160
this $1160 would become the minimal price a career miner would sell their bitcoin for which would increase in price as difficulty increases or would decrease as difficulty decreases.
prices above the 'cost' would be where value (usefulness and desirability) is added and other factors known as profit or speculation. prices below this are known as panic, loss, stupidity, or more accurately. people that dont know the true value or cost.
you will find early investors that 'got' their coins cheaper more willing to sell for less, but until people start realising that bitcoin does have value and costs, they will continue to panic sell at absurdly low prices, instead of hoarding for few days to let the panic subside.
i can see one possible knit pick reply. which is that gold miners do not set their prices based on labour&cost. they accept whatever their gold purchase contacts offer them.
well this is where bitcoin is different. bitcoin is peer-2-peer there is no middle man who sets the price and demands miners hand over the hoarded at the middle mans prices. miners and hoarders have direct contact with customers. so there is no price fixing.
same story as gold as it is for farmers, if only farmers had the freedom of 'barter' trade that bitcoins offer. they would actually be able to sell milk and meat at its true value. and not at the reduced rate supermarkets force upon them
rant over
While i generally think this is an interesting point of view, there seems to be one huge flaw with this logic. thats the more simple answer.
bitcoin has the same value as investment gold.(not to confuse with the intrinsic value of manufacturing gold)
initial price is set by the costs of mining the gold (excavators, sluice machines, labour, transportation, storage, security)
bitcoin is similar. bitcoin miners spend alot of money on equipment, electricity.. and added to that the time.
say a bitcoin miner had free electric, free mining equipment. but no other job. if it took 2 weeks to make a bitcoin. he would still only sell his bitcoin for a price to cover 2 weeks of living costs. EG $300.($150 / week minimal living cost)
now add on price of electric for the miners that dont get free electric. this may equate to $60.
now looking at the difficulty. the cost of equipment to be able to mine a bitcoin in 2 weeks is about the same as a 4 module avalon averaging $2000. and knowing that every difficulty increase over the last 3 months as been near 40% lets say that the miner would be required to buy a new unit every month($800 at 40%). just to break even.
so lets combine it all $800+$60+$300=$1160
this $1160 would become the minimal price a career miner would sell their bitcoin for which would increase in price as difficulty increases or would decrease as difficulty decreases.
prices above the 'cost' would be where value (usefulness and desirability) is added and other factors known as profit or speculation. prices below this are known as panic, loss, stupidity, or more accurately. people that dont know the true value or cost.
you will find early investors that 'got' their coins cheaper more willing to sell for less, but until people start realising that bitcoin does have value and costs, they will continue to panic sell at absurdly low prices, instead of hoarding for few days to let the panic subside.
i can see one possible knit pick reply. which is that gold miners do not set their prices based on labour&cost. they accept whatever their gold purchase contacts offer them.
well this is where bitcoin is different. bitcoin is peer-2-peer there is no middle man who sets the price and demands miners hand over the hoarded at the middle mans prices. miners and hoarders have direct contact with customers. so there is no price fixing.
same story as gold as it is for farmers, if only farmers had the freedom of 'barter' trade that bitcoins offer. they would actually be able to sell milk and meat at its true value. and not at the reduced rate supermarkets force upon them
rant over
To mine gold you need a somehow fixed amount of effort.
The effort to mine bitcoin instead is dependent from the amount of people trying to mine bitcoin.
Higher price of bitcoin -> more people mining -> higher difficulty -> higher cost of hardware -> higher price of bitcoin -> repeat
It is more likely it's the other way around: price of bitcoin dictates how much effort and money people put into it.
Re: Manipulation of price by selling from your wallet into another wallet of yours?
Well if you speak of price you probably mean something like the actual price at mtgox. Now if you wanted to change the displayed price at mtgox you would have to sell for let's say 50% of the usual price to your own account. But at mtgox or any other exchange you don't trade with a specific account. You always go through the orderbook. So to buy or sell to your own account at the manipulated price you would first have to complete all orders inbetween. At that point it does not realy matter if you buy your own stuff because you actualy did change the price for real.
I get this when i click on details of the transaction in PPCoinQt:
http://www.cryptocoinexplorer.com:2750/address/PRajWC3YVHLHLB1VZQAfYCHAo7jcrMuYcM
Can anyone tell me why the transaction isn't processed nor does it show up on the coinexplorerpage?
Code:
Status: 0/unconfirmed
Date: 26.11.2013 01:57
To: PDWmBfkDA3D9rok3GTATRye88MyipemdD4
Amount: -292.760846 PPC
Transaction fee: -0.01 PPC
Netto: -292.770846 PPC
Transaction-ID: e1f9573205f99abcf9e21ee432f89fd9e104c40175f0b31f0efb9f7283393445
This is the sourceadress:Date: 26.11.2013 01:57
To: PDWmBfkDA3D9rok3GTATRye88MyipemdD4
Amount: -292.760846 PPC
Transaction fee: -0.01 PPC
Netto: -292.770846 PPC
Transaction-ID: e1f9573205f99abcf9e21ee432f89fd9e104c40175f0b31f0efb9f7283393445
http://www.cryptocoinexplorer.com:2750/address/PRajWC3YVHLHLB1VZQAfYCHAo7jcrMuYcM
Can anyone tell me why the transaction isn't processed nor does it show up on the coinexplorerpage?
Versteht mich nicht falsch, ich bin nicht auf der Suche nach verbindlichen Informationen. Ich dachte nur, ich bin vielleicht nicht der erste der sich mit der Thematik beschäftigt und es gibt eventuell Leute die von ihren Erfahrungen berichten können. Das mit dem Gold-vergleich ist schon mal ne gute Richtung, danke für den Link!
Sehr hilfreich danke, vielleicht kennt sich aber ja tatsächlich auch jemand damit aus wie man das ganze buchhalterisch und steuerrechtlich legitim abwickeln kann. Ich fürchte wenn ich später bei der Steuerprüfung sage OhShei8e hat mir empfohlen "Mach halt" könnte das nicht ganz wasserfest sein.
Ich würde gerne Firmenkapital einer GmbH nutzen um Bitcoin zu erwerben.
Hat jemand Erfahrung damit?
Kann man die gekauften Bitcoin genau wie Wertpapiere als Anlage- oder Umlaufvermögen betrachten?
Worauf muss man sonst achten?
Hat jemand Erfahrung damit?
Kann man die gekauften Bitcoin genau wie Wertpapiere als Anlage- oder Umlaufvermögen betrachten?
Worauf muss man sonst achten?
Re: Erster großer Essenslieferservice in Deutschland akzeptiert Bitcoins
Ich hab ein Skript geschrieben das die aktuellen Bitcoinkurse anzeigt:
Einfach auf ein Bookmark legen und dann anklicken wenn die Seite geöffnet ist.
Wer Greasemonkey oder Konsorten installiert hat kann das Skript auch hier installieren, dann werden die Preise immer automatisch angezeigt.
Code:
javascript:$.getJSON("https://bitpay.com/api/rates", function(data) { $("a[itemprop='price']").each(function(i,v) {$(v).html($(v).html()+" = "+($(v).html().replace(" ","").replace(",",".")*1000/data[1].rate).toFixed(0)+"mBTC")})})
Einfach auf ein Bookmark legen und dann anklicken wenn die Seite geöffnet ist.
Wer Greasemonkey oder Konsorten installiert hat kann das Skript auch hier installieren, dann werden die Preise immer automatisch angezeigt.
Auf der BitPay Seite auf den Preis unten rechts clicken zeigt den Wechselkurs.http://i.cubeupload.com/6SQVhE.png
Re: Erster großer Essenslieferservice in Deutschland akzeptiert Bitcoins
Ich hab ein Skript geschrieben das die aktuellen Bitcoinkurse anzeigt:
Einfach auf ein Bookmark legen und dann anklicken wenn die Seite geöffnet ist.
Wer Greasemonkey oder Konsorten installiert hat kann das Skript auch hier installieren, dann werden die Preise immer automatisch angezeigt.
Code:
javascript:$.getJSON("https://bitpay.com/api/rates", function(data) { $("a[itemprop='price']").each(function(i,v) {$(v).html($(v).html()+" = "+($(v).html().replace("€ ","").replace(",",".")*1000/data[1].rate).toFixed(0)+"mBTC")})})
Einfach auf ein Bookmark legen und dann anklicken wenn die Seite geöffnet ist.
Wer Greasemonkey oder Konsorten installiert hat kann das Skript auch hier installieren, dann werden die Preise immer automatisch angezeigt.
What do you think would happen if bitcoin replaced a countries currency?
It's often said bitcoin attacks the states monopoly on printing money.
Assuming there would be a point in the future, where in a country bitcoin got more important than the regular currency that country used. So the regular currency would suffer immense inflation and all the people decided to only accept bitcoin, thus taking the state the ability to print new money. How do you think this would affect that states social systems. What if the state would not be able anymore to pay for its citizens needs? What if this led to a system where the old and the sick would not have any support by the state?
Assuming there would be a point in the future, where in a country bitcoin got more important than the regular currency that country used. So the regular currency would suffer immense inflation and all the people decided to only accept bitcoin, thus taking the state the ability to print new money. How do you think this would affect that states social systems. What if the state would not be able anymore to pay for its citizens needs? What if this led to a system where the old and the sick would not have any support by the state?
I planned to post this in off-topic but if i understand it right the newbie forum is supposed to be another off-topic forum where you can write about anything until you get your 5 posts. So why not post it here instead of writing some random gibberish...
Looking at recent trends, i love how open source and crowd funding continue to get wide acceptance.
Knowledge might be the best resource human kind got at it's hand and sharing it can easily lead to win-win-situations as open source shows, where the creator gets manpower and feedback for his project and the community gets free and transparent software. Crowd funding on the other hand cuts out most of the middlemen and thus ensures that as much of the available monetary resources flows into the actual project.
What i really would love to see though is a community that takes it another step further:
-people would be able to introduce their ideas as good as they can on a site quite similar to kick-starter, but without the need to have anything planed out already or even the possibility to do it themselves.
-users of the site could vote on, discuss and collaborate on those ideas to form a plan (like setting up personal requirements, resources, concepts, etc..)
-companies or start-ups could take up or form around the ideas and propose a plan how to realize the project
-in the end that plan could be setup on any of the existing crowd funding platforms or maybe a similar system would be integrated on the same page
Now among others the biggest problem with this project seems to be the fact that people would not be willing to give away their great ideas for free. But there are several reasons why i think it could still work out fine:
-open source basically has the same problem but it still works pretty well
-many people are aware, that they will never realize their ideas lacking the opportunity to ever do so
-by making the idea public people might have the best chance to ever see that idea done
-by publishing your idea on the site you have a time-stamped "proof" that it was your idea
-if you integrate crowd funding in the same platform you could easily reward the inventor even if he wasn't able to contribute more than the mere idea
-if another company would rip the idea vs a start-up using the platform the community could only support the original project thus making it less attractive to openly steal those ideas
My hopes are such a site would essentially bring together the creative minds with the huge amount of skilled people that are able to help them archive their ideas. I would also like this site to be based on bit-coins, but i assume it is not easy for a start-up to work with bit-coins at the moment.
I'm pretty sure that i am not the first one having this idea, but i did not really find anything close to it so i wanted to start some discussion about it myself.
Do you think a site like this could work? Do you see any problems i overlooked?
Looking at recent trends, i love how open source and crowd funding continue to get wide acceptance.
Knowledge might be the best resource human kind got at it's hand and sharing it can easily lead to win-win-situations as open source shows, where the creator gets manpower and feedback for his project and the community gets free and transparent software. Crowd funding on the other hand cuts out most of the middlemen and thus ensures that as much of the available monetary resources flows into the actual project.
What i really would love to see though is a community that takes it another step further:
-people would be able to introduce their ideas as good as they can on a site quite similar to kick-starter, but without the need to have anything planed out already or even the possibility to do it themselves.
-users of the site could vote on, discuss and collaborate on those ideas to form a plan (like setting up personal requirements, resources, concepts, etc..)
-companies or start-ups could take up or form around the ideas and propose a plan how to realize the project
-in the end that plan could be setup on any of the existing crowd funding platforms or maybe a similar system would be integrated on the same page
Now among others the biggest problem with this project seems to be the fact that people would not be willing to give away their great ideas for free. But there are several reasons why i think it could still work out fine:
-open source basically has the same problem but it still works pretty well
-many people are aware, that they will never realize their ideas lacking the opportunity to ever do so
-by making the idea public people might have the best chance to ever see that idea done
-by publishing your idea on the site you have a time-stamped "proof" that it was your idea
-if you integrate crowd funding in the same platform you could easily reward the inventor even if he wasn't able to contribute more than the mere idea
-if another company would rip the idea vs a start-up using the platform the community could only support the original project thus making it less attractive to openly steal those ideas
My hopes are such a site would essentially bring together the creative minds with the huge amount of skilled people that are able to help them archive their ideas. I would also like this site to be based on bit-coins, but i assume it is not easy for a start-up to work with bit-coins at the moment.
I'm pretty sure that i am not the first one having this idea, but i did not really find anything close to it so i wanted to start some discussion about it myself.
Do you think a site like this could work? Do you see any problems i overlooked?