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Showing 20 of 56 results by InBTC4years
I don't qualify for your rules, but I like what you are doing. You are helping to move around the merit points because you can and you have set forth a criteria. That would have been a better way for them to roll out the system. I hope more people like you launch these types of threads. I'm a BTC guy. Not 100% but it's really the only safe long play, as time has shown us all.
I gave you 5 to get you started. Your post history shows youre a btc guy. Come back in six months and let me evaluate you again and maybe youll get more.
Thanks man. Yeah, I felt a little left out in the cold with this whole merit thing. I appreciate the support. I remember when all those alts were coming out...namecoin, peercoin, whatevercoin. Where are they now? The new people have no idea how quickly interest in random alts goes away when BTC sinks low. I always laugh at those jokers who say BTC will go away. Never. It is the first, most stable, most supported and that's not going to change. Wish I had bought more...
If it happens, the confidence and price of the coin will collapse. People holding the largest amount will suffer the most. Therefore it wont happen.
That has always been the assumption, but it just isn't always true.
Bitcoin Gold suffered a 51% attack in May and its price has not been affected.
ZenCash suffered a 51% attack last week and its price has not been affected.
Verge has suffered several attacks over the last couple months, and its price has not been affected.
Monacoin suffered a 51% attack last month and although the price dropped temporarily, it returned to normal.
Yes...thank you. And there were others, I know ZenCash got it. I think they can only do short term damage and it has to be for transactions executed during the attack. So, if they can hold the network long enough, they can hopefully get a few transactions to clear, but 51% is not really enough, it's barely enough. If transactions are hitting the 49% those transactions are rejected. But each of the blockchain networks are different.
In addition, since those 51% attacks, people are making changes so that those attacks can't actually work as well next time, like requiring 100 confirmations before an exchange will release coins being withdrawn, instead of the old 5. If I understand this correctly (which I probably don't) the more confirmations needed, the long the attacker would need to hold at least 51% of the network.
Do I have all this right? Would love to be corrected.
⭐ Merited by QuestionAuthority (5)
I don't qualify for your rules, but I like what you are doing. You are helping to move around the merit points because you can and you have set forth a criteria. That would have been a better way for them to roll out the system. I hope more people like you launch these types of threads. I'm a BTC guy. Not 100% but it's really the only safe long play, as time has shown us all.
Re: Earn merit by telling us about the dangers in using 3rd party wallets.
I may have missed it, but I think you asked for ways to avoid the dangers of third-party wallets? Well how about don't use them and use a Trezor, Ledger Nano instead? I think an easy to use hardware wallet is ALWAYS the way to go. Some people think they are expensive, and I get that, but once you lose your coins (like we all do) because of a scam, or you can't remember your password (how many BTC are frozen because of that) you will see that $100 (or so) is a great deal.
I think those little devices are great.
Here are way to get them:
https://shop.trezor.io/?h=7472657a6f722e696f (buy a Trezor here, direct from the maker, much safer than buying elsewhere, a Trezor One is good enough, you don't need the new fancy version)
https://www.ledgerwallet.com/products/ledger-nano-s (buy a Ledger Nano, direct form the maker)
These things take about 15 minutes to set up and then your private keys never touch the Internet.
I read an article once about a guy who tried to hack his own Trezor. I think he failed, but I learned a lot.
https://www.wired.com/story/i-forgot-my-pin-an-epic-tale-of-losing-dollar30000-in-bitcoin/
I think those little devices are great.
Here are way to get them:
https://shop.trezor.io/?h=7472657a6f722e696f (buy a Trezor here, direct from the maker, much safer than buying elsewhere, a Trezor One is good enough, you don't need the new fancy version)
https://www.ledgerwallet.com/products/ledger-nano-s (buy a Ledger Nano, direct form the maker)
These things take about 15 minutes to set up and then your private keys never touch the Internet.
I read an article once about a guy who tried to hack his own Trezor. I think he failed, but I learned a lot.
https://www.wired.com/story/i-forgot-my-pin-an-epic-tale-of-losing-dollar30000-in-bitcoin/
It's a classic scam that has existed long before crypto. I guess it works because all scams have been tried before and the scammers stop doing the ones that don't work. That is why we all get so much spam in our email...because people out there actually click on it. Who? I met one once...I was like don't click on that! People are dumb sometimes. But that doesn't mean it's your fault if you get scammed...it's the scammer's fault. But like someone said, it plays on your greed.
How Spam Works:
https://computer.howstuffworks.com/internet/basics/spam.htm
27 Scams to Avoid:
https://www.theguardian.com/money/2013/may/02/27-common-scams-to-avoid
Scams Similar to the Send ETH to Get ETH Scams:
https://www.consumer.gov/articles/1019-money-wiring-scams
From what I see, bad people, most of them, have bad lives. Don't fear them, pity them.
How Spam Works:
https://computer.howstuffworks.com/internet/basics/spam.htm
27 Scams to Avoid:
https://www.theguardian.com/money/2013/may/02/27-common-scams-to-avoid
Scams Similar to the Send ETH to Get ETH Scams:
https://www.consumer.gov/articles/1019-money-wiring-scams
From what I see, bad people, most of them, have bad lives. Don't fear them, pity them.
For the last 4 months there's been a lot of FUD and a lot of people stopped believing in the better future. What happened to bitcoin, when it went down from $20k to $6k seemed unique and frightening. And yet it isn't. During November 2013 bitcoin went extremely up in terms of the price and topped at about $1.2k. However, 2014 wasn't a good year for bitcoin, because it dropped from that high price down to $250 at the beginning of 2015, so I might've looked back than that bitcoin would never be great again.
But as we all know not only bitcoin recover (it took the coin another year to do that), but it also went up 20x since then. This year we have another very similar price drop. The only difference is that the market capitalization is a lot bigger and that lots of people care about what is happening with bitcoin nowadays.
So we really should not be afraid so much, since we have a historical example of bitcoin getting out of a similar situation before.
But as we all know not only bitcoin recover (it took the coin another year to do that), but it also went up 20x since then. This year we have another very similar price drop. The only difference is that the market capitalization is a lot bigger and that lots of people care about what is happening with bitcoin nowadays.
So we really should not be afraid so much, since we have a historical example of bitcoin getting out of a similar situation before.
Agreed. This is NOT 2014. I was around then...people LOVE blockchain now and the fear of BTC continues to lessen. It still has a ways to go, but this is NOT 2014
Re: Which one is the best cryptocurrency next to bitcoin?
Which one is the best cryptocurrency next to bitcoin?
Wrong forum. This is for Bitcoin discussions, not altcoin discussions.
Re: BREAKING NEWS : Bank of America and JP Morgan Are banning CC purchases
Concerned? No. It is just one more nail in the coffin of the credit card industry. They should not be singling crypto out like this. But, I'm actually just surprised they waited this long. Maybe the new attention is a good sign because it shows they now finally see crypto as competition.
Buying and holding coins.......is that the only strategy that the new traders can follow to make profit ??
Paper trade. But take it seriously. Write down trades you would like to do for a week. Then start over the next week. Then start over the next week.
if you didn't make any money, or you only made USD and no BTC, you are not ready for real trading. But for now, yes, buy and hold.
any concrete piece of advice on this one :
- DON'T fall for online scams
- DON'T fall for online scams
Phone a friend... find a friend or two (or three) you can run opportunities by and help them help you figure out if it is a scam. Everyone gets scrammed. Just be careful.
Well - Bitcoin is the first. That probably means it will always be the first choice. But ETH has achieved some of the goals of Bitcoin that Bitcoin, because it is the first, has been slow to adopt. They are both successful for similar reasons, because they continue to have people use them as foundation tools. They built exchanges on Bitcoin and tokens on ETH.
Re: Why chose BITCOIN rather than other investments e.g. Stocks/shares
Why chose bitcoin? Why not invest in shares/ stocks? Other investments?
Because Bitcoin is the future and stocks are just temporary.
you think this is the right time to buy and hold bitcoins? because from 19k its 11k today. 
Yes. My projections show a climb is coming soon. I'm estimating January 29th to February 1st is when the climb starts and I think it goes back to at least $15k. But do your own research.
It will never go to zero, At minimum, you need $1000 to mine 1 BTC, so that's the least value I bilieve it could ever happen
What do you mean you need $1,000 to mine 1 BTC?
I think Bitcoin will go up around Christmas. People will want a break from family and they will not have any work to do for their jobs. Also, in the US, Thanksgiving was a big boost in Bitcoin buying. I think family will teach each other how to buy Bitcoin.
Cryptocurrency is driven more by speculation than anything else. So, the speculators believe the price of Bitcoin will rise, if they did not, they would sell, but instead they keep buying.
So, now you know how to read the sentiment of the market. Watch the price.
So, now you know how to read the sentiment of the market. Watch the price.
Re: Nearly a third of people think bitcoin will collapse in the next six months
Ha - who cares what a 1/3 of people in any survey say, especially when they are being asked about a topic they know very little about. I think most of the world has still never even heard of bitcoin. I think most of the US still has not heard of it, and if they have, they don't know enough to be a good source of price prediction.