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Even if China controlls 80% of the mining power that doesn't mean that we should fear a 51% attack. Do you actually think that the guys who control mining, being Chinese or not want a 51% attack??? of course not, otherwise their investment would be worth 0....
Come the halvening, their investment will be worth 0 (unless other miners stop mining/BTC price doubles), so not that improbable :-
Once the halving takes place we will see a lot of old miners getting of the boat. It wioll be uprofitable to mine for most of the oldest mining hardware. Since a lot of people will stop mining with their old hardware the most efficient miners will still be profitable!
Only if they're all paying the same price for electricity. Actual range is from 0 (stolen/dorm/mom's basement) to below $.02 (China, hearsay) to probably as high as $.07?
Even if China controlls 80% of the mining power that doesn't mean that we should fear a 51% attack. Do you actually think that the guys who control mining, being Chinese or not want a 51% attack??? of course not, otherwise their investment would be worth 0....
Come the halvening, their investment will be worth 0 (unless other miners stop mining/BTC price doubles), so not that improbable :-
the ones who control most bitcoins has more to lose.
Miners aren't necessarily the ones who control most bitcoins! The early adopters control a large amount, the future miners have less than one-third of bitcoins left to mine the rest of this century."Controlling most of bitcoins" and "controlling Bitcoin" are two totally different things. Satoshi, for instance, controls around a million BTC, but he doesn't control Bitcoin's day-to-day functioning any more than the guy with .01 BTC, the miners do tho. They stop -- no more Bitcoin. That's why the halvening is going to be so interesting: either the price of BTC has to spontaneously double, or roughly half of the miners have to close up shop.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Feel free to buy that Eth scamcoin and have the rug instantly pulled out from under you. They're pumping it in order to find momentum traders to dump on to get BTC for the BTC halving. Only idiots hold altcoins during BTC halving.
It gets even worse for the ETH DAO investors, looks like your Eth investment is devalued upon price rise, this is going to end badly, so bad that... Dr Gavin Wood ETH chief scientist & DAO curator resigned , he know's whats coming :- https://medium.com/@gavofyork/why-ive-resigned-as-a-curator-of-the-dao-238528fbd447#.4b1m1viv3
Hrmm! automated ponzi, progress is the future lol.
"... All of this is trivially replicable using old-fashioned governance structures. Berkshire Hathaway would look a bit like the DAO if, instead of leaving things to Warren Buffett, all of its shareholders got to vote on every investment decision. When I put it like that you can probably see why this structure has not been super popular so far." https://www.bloomberg.com/view/articles/2016-05-17/[Suspicious link removed]pany-wants-to-reinvent-companies
Yup.
Lol, just noticed the ninja [Suspicious link removed] edit Thermos [Suspicious link removed]up to save us from [Suspicious link removed]
[Suspicious link removed]!!1!
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Nice, all the douchebags from "whaleclub" are in this thread spamming praying that the price goes lower, otherwise they'll have to pay more to buy back in than the amount of money they used to temporarily rig a drop. The last orchestrated drop didn't work so well, and they might have even lost money buying back in, so I'm surprised anyone even attempted to manipulate it again.
Brother r0ach, covetous jooz have seized control of our forum! I asked if jooz use our bitscoins, and my thread got locked and moved to off-topic
https://bitcointalk.org/index.php?topic=1466737.0
What's to be done?!
So what is BTC good for? It's a good alternative to gold and silver for capital preservation. For micro transactions, just convert a bit each month to fiat and use the rich existing network of micro transaction systems all of which are way superior to the current BTC implementation for that purpose.
The only problem with Bitcoin being a gold substitute is ...wait, did I say only? I meant I'll start a list:
1. Gold has a history of being used as a store of value. Longer than the recorded history of mankind. Bitcoin ain't got that.
2. We already got gold. Value ain't created as easily as new "stores of value." For Bitcoin to acquire value, something gots to *lose* value.
3. Gold has a nice quality: It stays fresh. you put it somwhere, and in a thousand years, it's as good as it ever was -- low maintenance; easy to store.
Bitcoin network burns a trainload of coal a minute to secure Bitcoin, regardless of whether you transact on it or not.
So roughly like trying to use Ice cream as a store of value -- your fridge stops running, your wealth is gone.
Would you use ice cream to store your wealth?
The Real question is, Do you have a freaking brain? A different race or religion doesn't make anyone less human
Say what? Who said anything about Bitcoin making people less human?
He's talking about you and your thread, not using bitcoin. Jews are just as human as you and I, and I personally see no reason why they wouldn't use bitcoin. Here's an alternative question for you: why wouldn't they use bitcoin?
I dunno, why would anyone wanna kill Jesus? No one came down this hard on https://bitcointalk.org/index.php?topic=1314592.msg13443122 , I'm starting to wonder if those Saurian conspiracy theorists are on to something... You know anything about thermite?
The Real question is, Do you have a freaking brain? A different race or religion doesn't make anyone less human
Say what? Who said anything about Bitcoin making people less human?
Not too big of a deal, it seems that bitcoin has been used as a daily currency less and less with time, I do not mind it becoming a settlement or used for non urgent transactions.
Exactly. If Satoshi wanted Bitcoin to be a peer-to-peer electronic cash system, he would've said so in the white paper.
Re: IF the NSA wanted to take control over Bitcoin, how would they do it?
Plus the second they gain control is when all of the money floods out of Bitcoin and in to a different crypto.
For money to "flood out," there'd have to be buyers, no? Who'd be interested in buying into a NSA property?
A thread like the one below, only about Jews.
Any Jews here? Chime in plz.
Are Arabs interested in Bitcoin ?
any of them in this forum ??
any of them in this forum ??
Any Jews here? Chime in plz.
Actually, I worry more about what's going to happen when the Chinese economy falters.
Why would it falter? It's not like others are making cheaper products, right?
That's your unabridged understanding of economics, amirite?
Looks like they gave it another year, demand continued to plummet and they axed it.
Yeah, must've felt great after all that time... delayed gratification!
Maybe you should buy one of those debit cards you can preload with bitcoins? Or could just show up at the hotel and explain about bitcoins, concierge will give you the best suite right away, probably with 3% discount because no credit card fee 
Re: Do not use USB sticks for long term storage! Its not safe!
Best would be something written or cut in an aluminium plate or maybe block, since it isn't affected by humidity.
https://www.google.com/search?q=corroded+aluminum
Re: Do not use USB sticks for long term storage! Its not safe!
Engrave your private keys in a block of tungsten, basically indestructible.
http://we.lovebitco.in/img/tungsten.jpg
http://we.lovebitco.in/img/tungsten.jpg
I don't think that it will be really needed to use something as sturdy and expensive. A common iron block will be a lot more than enough I think
!Not if you bury it under a birdbath for 20 years ... much water; much bird poo ... corrosion
last night i bought 5 usb sticks and 2 waterproof boxes, i put the box inside of the other box then the 5 usb sticks in the middle of the box, afterwards i went into my backyard and dug a hole underneath the bird fountain ... i plan to keep it there for 20 years.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
this is ridiculous, pop over 460 already.
The great psychological resistance @460. Once broken tho, smooth rocketing all the way to ... oh, 460.5, at least
$460. Why can't we break through?
Re: IF the NSA wanted to take control over Bitcoin, how would they do it?
Quote
Executive Order 6102 is a United States presidential executive order signed on April 5, 1933, by President Franklin D. Roosevelt "forbidding the Hoarding of gold coin, gold bullion, and gold certificates within the continental United States". The effect of the order, in conjunction with the statute under which it was issued, was to criminalize the possession of monetary gold by any individual, partnership, association or corporation.
FTFY
Capitalism is based on private ownership of the means of production. When you start talking about nationalizing things, you are no longer talking about capitalism.
Gold is "means of production"?
Though many countries that are considered to be capitalist "nationalize" the means of production when times are tough. Think Britain during WW2.