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Showing 20 of 226 results by bitcoinskyrocket09
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Board Bitcoin Discussion
Re: Bitcoin is it the Future of Banking ?
by
bitcoinskyrocket09
on 04/07/2018, 13:03:33 UTC
i was thinking about the Bitcoin and it's Future in Banking . can it remplace money in transactions ?
Yes, because it will take time to see that the bitcoin will replace the real money. And I guess that it will not really replace the use of money but as it is now, it serves as the money of people online. Hence, many countries is not that yet ready to accept bitcoin usage and yet, they have a negative insight about bitcoin things. People don't know that if you're a good handler of bitcoin, it can secure your daily life. So much for that, bitcoin can do so much in transactions online but might not replace the tangible one.
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Board Bitcoin Discussion
Re: Real life usage of bitcoin
by
bitcoinskyrocket09
on 04/07/2018, 12:00:24 UTC
Don't you think price blast not correlate with its real life usage since its inception?

Its hoarded for speculative purpose but how many major cities in the world have even its ATM?

I mean we all the time correlate its value with fiat currency then buy/take then what's its purpose in my day to day life?

Who will accept it in store when confirmation time is so long.
There are many uses of bitcoin and it does not matter if the bitcoin confirmation is slow or what. Because when you send a bitcoin, people cannot actually refund the payment so the buyer is really sure that he or she will get the money in an exact amount.
Hence, peopke can negotiate a fee and ask the buyer to pay half and you will pay half of the confirmation which will be faster. And also, many other uses and importance of bitcoins are being offered.
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Board Bitcoin Discussion
Re: Is Bitcoin a Scam - No more
by
bitcoinskyrocket09
on 04/07/2018, 11:45:34 UTC
#consensus2018

The narrative has changed. It used to be “Is Bitcoin a scam?” now it’s “ how high do you think the price will go”.
Institutional money is on its way people.

Matthew Goetz from 'Block Tower Capital' stated in front of a capacity crowd at Consensus;
"Bitcoin to 60k in 2018"

Goldman Sachs are already well and truly in the space.
https://www.forbes.com/sites/michaeldelcastillo/2018/05/15/circle-raised-110m-to-build-ethereum-coin-backed-by-dollars/?utm_source=TWITTER&utm_medium=social&utm_content=1535467440&utm_campaign=sprinklrForbesCrypto#597a81f81ee1



Twitter:@BoomerCapital
Web: boomerangcapital.org
Bitcoin is not a scam and it was already Provence. And certainly it is also a real coin that will someday in the future will be part in the books of our history. People do like the bitcoin because they know that it had helped a lot of people. Thank you for this because this is a very positive hope that other people that are not into bitcoin then they will see bitcoin positively.
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Board Bitcoin Discussion
Re: Best way to store Bitcoin safely ?
by
bitcoinskyrocket09
on 02/07/2018, 10:28:36 UTC
Hi guys
I know this might sound like a newbie question, but Ive not had enough bitcoin to think about putting any in cold storage since Cryptsy ripped me off when they went down Sad
But just lately ive built myself back up a bit, and just need to check my understanding of a creating a cold wallet is correct ? This is what I think was the best way but im not sure Huh

1. Download latest BTC client
2. move to a pc not connected to the internet.
3. Create an address on that PC without internet.
4. Send fund to address created on PC with no internet access.
5. Save keys in safe place Smiley

Also I was wondering if there are any 100% safe third party wallets that enable quick access if needed ?

Sorry if my question has been covered many times, but I just don't want to make a big mistake.

Thanks
Rick
I suggest that the best way to keep your bitcoin safe is to have a safe wallet. That means, when opening your wallet, people must be vigilant in using any gadgets of rental computers because we are using our personal password and as we know as of now, hackers are very much knowledgeable in leaving apps in various units. Hence, anyone who would use the computers without any precautions then those people could easily be one of the victim. So people must always keep in mind to be careful in using computers from public internet cafe or any gadgets.
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Board Beginners & Help
Re: Can a blackchain system be destroyed?
by
bitcoinskyrocket09
on 02/07/2018, 10:19:18 UTC
It can never be destroyed you need the blackchain for the mean reason is, you have to understand what blackchain is,in about 10years has been invented blackchain has already done so many things so it can never been easily destroyed it have a big role in bitcoin it's served as public transaction ledger of crypto currency it is invented for bitcoin made it as first digital currency to solve the double spending problem without need of a trusted authority or central server it is also inspired other applications so how can be blockchain system be destroyed if it has played a biggest part of the market right now.
I don't think that the blockchain can be destroyed. This will not happen because this is a very smart system. I have also heard from those who have experience in mining that the blcokchain system is very powerful and smart technology that will provide many people with many opportunities and great things can also be given by this system.
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Board Bitcoin Discussion
Re: Real life usage of bitcoin
by
bitcoinskyrocket09
on 02/07/2018, 10:04:28 UTC
Don't you think price blast not correlate with its real life usage since its inception?

Its hoarded for speculative purpose but how many major cities in the world have even its ATM?

I mean we all the time correlate its value with fiat currency then buy/take then what's its purpose in my day to day life?

Who will accept it in store when confirmation time is so long.
In my own opinion, the bitcoins' real life usage is to enhance payment method and transactions with its good security and high transaction speed. And also, good thing is the low transaction costs and owner control of transactions in bitcoin. Hence, there has also been a shift in paradigm from payment method to investment method. And as you see, some investors see the use of bitcoin more as the coin for investments rather than using it for payment and for buying only.
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Board Speculation
Re: What to do next with bitcoin?
by
bitcoinskyrocket09
on 02/07/2018, 09:51:16 UTC

The market is quite stable with a bitcoin price of about $ 6400, after dropping to the lowest level of about $ 5900 last week but soon back to strength. This suggests that $ 6000 is still a strong support level for bitcoin. Some documents show that holders of more copper bitcoins are continuing to buy more, not sold on the market. Should we buy more bitcoins at this time?
I think that people should have a reasonable strategy with the use of bitcoin. At this moment, bitcoin prices are not yet completely stable so people should consider this thing before buying and holding the bitcoin. But I think now is the right time to buy bitcoin because I'm pretty sure that the bitcoin value and price will surely increase at the end of this year so users must be focus with this.
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Board Bitcoin Discussion
Re: What does bitcoin need to improve?
by
bitcoinskyrocket09
on 02/07/2018, 09:44:03 UTC
I can clearly see that there are other cryptocurrencies that are beginning to dethrone bitcoin, showing off there quick and secured transactions, though bitcoin continues to be the king. What does bitcoin need to improve state your opinions.
Actually, the use of bitcoin is really good but bitcoin has also a lot of things to improve. Just like its transaction handling, as we all know that the currency is limited only to about 3-4 transactions per second. It also needs to improve its speed of transactions and the ease of the systems that are in use. That means, it simplifies how it works to be accepted by some layman and bitcoin also needs to be easier to understand.
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Board Bitcoin Discussion
Re: Crypto currency in five years!
by
bitcoinskyrocket09
on 02/07/2018, 09:30:40 UTC
Legendary investor Tim Draper is confident that in five years all will use crypto currency. According to Draper, the technological shift that we can observe now will be more significant than the transition from the Stone Age to the Bronze Age. Answering the question about how he sees the current situation in comparison with the period when he invested in the technologies of web 1.0 and 2.0, he replied that web technologies and transformed the concept of information, while blocking has the potential to transform almost all industries, including government services.
I think that in the next five years, the use of cryptocurrency will definitely grow rapidly in that time soon. Because by investing in bitcoin, someone can definitely achieve a successful life and also, this can also encourage the government to acknowledge the use, importance and existence of the cryptocurrency to the fullest. In addition, this might provide a sense of comfort when some of the people want to try to invest here.
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Board Bitcoin Discussion
Re: What bitcoin brings to its users?
by
bitcoinskyrocket09
on 02/07/2018, 09:11:02 UTC
I watch a lot of information on the television talk about bitcoin (mainly the news about the bankruptcy, the bad side of bitcoin). On the other hand, I read a lot of online articles about the benefits of Bitcoin. What does Bitcoin offer the user?
I think that the bitcoin brings to its users the chance to make some money. And also to keep growing their money in an easier way. Because as we all know, there are a lot of things to choose in the market of bitcoin. In addition, the use of bitcoin is really useful to people and people can also put their bitcoins into another type of coin which is called the altcoin. This can help them to create more money and make a lot of profit with the help of it.
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Re: Crypto currency in five years!
by
bitcoinskyrocket09
on 29/06/2018, 06:31:21 UTC
Legendary investor Tim Draper is confident that in five years all will use crypto currency. According to Draper, the technological shift that we can observe now will be more significant than the transition from the Stone Age to the Bronze Age. Answering the question about how he sees the current situation in comparison with the period when he invested in the technologies of web 1.0 and 2.0, he replied that web technologies and transformed the concept of information, while blocking has the potential to transform almost all industries, including government services.
I think that the level of cryptocurrency in five years will be, the value will be getting higher/increases, growing faster, many new investors will come and some company will also be using the cryptocurrency for their transactions  and etc. Hence, Hoping that in five years, cryptocurrency will then be accepted in some countries around the world and also be legalized.
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Re: Why Bitcoin isn't a legit currency.
by
bitcoinskyrocket09
on 29/06/2018, 06:10:17 UTC
The first purchase using bitcoins was in 2009 when someone bought 2 pizzas for 10,000 bitcoins. Today, that would be worth $83,746,850. Many people have started to use Bitcoin and it is now the most popular cryptocurrency in the world. Many countries whose currencies have become hyperinflated have thought about switching their national currency to Bitcoin. For something to be classified as money, it needs to be a good unit of account, medium of exchange, and store of value. Since Bitcoin has become extremely popular, I wanted to explain to investors and Bitcoin users that Bitcoin isn't a legit currency. The main three reasons why Bitcoin isn't a legit currency is because it is a poor unit of account, medium of exchange, and store of value.
   One of the big three parts of a currency is that it is a good unit of account. For something to be a unit of account, people have to be able to compare its price to the prices of alternative retail goods. Since the value of a bitcoin changes so much, it would be hard and confusing for both the consumer and the seller to recalculate the prices every day. “Because the value of a bitcoin compared to other currencies changes greatly on a day-to-day basis, retailers that accept the currency have to recalculate prices very frequently, a practice that would be costly to the merchant and confusing to the consumer.” This quote from David Yermack’s article Is Bitcoin a Real Currency? An Economic Appraisal Bitcoin shows why Bitcoin isn't a good unit of account. That is one reason why Bitcoin can't be a form of currency and why Bitcoin isn't a legit currency.
   The second part of something that is classified as a currency is that it is a medium of exchange. A medium of exchange is an intermediary instrument used to facilitate the sale, purchase or trade of goods. Since bitcoin doesn't have any intrinsic value, so its worth is held up by its usefulness as a currency in the consumer economy. The Youtube video “Why Do Banks Fear Bitcoin” by VisionVictory explains that there is a set amount of Bitcoins and by the year 2140, there will be a total of 21 million bitcoins. Miners have already mined 11.9 million of them, and this means that there is only 9.1 million left. Once all of it is mined, there won’t be any more left to be mined. Dollar bills can be printed by the U.S. government if they were needed. Some more reasons why Bitcoins isn't a good medium of exchange are that Bitcoins transactions each take around 10 minutes each, which is very slow compared to using a credit or debit card, which takes a few seconds. Also, Bitcoin transactions can cost around $20, which is extremely expensive. Because of all of these reasons, Bitcoin can't be a good medium of exchange, which is very important if it were to be a legit currency.
   The third and final part of a currency is that it has to be a good store of value. A store of value means that the function of an asset that can be saved, retrieved and exchanged at a later time. In the long podcast on Youtube by Paul Vigna & Michael Casey: ‘The Age of Cryptocurrency’, they explain what a decentralized currency is. Bitcoin is an atrocious store of value and one of the reasons why is because of its constant hacking attacks and other security problems. This is mostly because Bitcoin is decentralized, which means that there is no central authority that can stop any Bitcoin transaction or any hacking attempts. One of the reasons why Bitcoin is so popular is because people can stay anonymous and make transactions without people knowing who they are. The downside of using a decentralized currency is that people can do illegal things anonymously and get away with it. And also, Bitcoin’s exchange rate has no correlation at all with any other big currencies like the Dollar, Euro, and Yen. This makes Bitcoin extremely risky to use because it is tethered to any other currencies so its’ value would change constantly. This shows how terrible of a store of value Bitcoin is and why it cannot be a legit currency.
   Tons of people are jumping on the “Bitcoin Bandwagon” without doing their own research on it, and they’re going to lose a lot of time and money because of this. They need to realize that Bitcoin is not a legit currency because it fails to be a unit of account, medium of exchange, and a store of value.



It is indeed true that bitcoin is not a legal currency as of now because it is not yet accepted by most of the governments of each country and most especially here in the Philippines. In addition, it is not centralized and is regulated by them. The transaction in bitcoin is unknown and also the developers are anonymous. Hence, bitcoin is not created and implemented by the government so it is not yet been legalized.
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Board Speculation
Re: BIG HOPE FOR BITCOIN
by
bitcoinskyrocket09
on 29/06/2018, 06:00:31 UTC
Bitcoin is a crypto currency, all currencies make upward and downward trends from time to time. Bitcoin is and other Crypto currencies are taking over the world economy. See every dip as an opportunity to buy more.
Invest now and smile at moon
This is very true. There is always a big hope in bitcoin and in the use of this type of system. People needs to be patient enough. Do not lose hope until the end because everything will be fine as always. There is always a solution in every challenges and problems. Same as in bitcoin, bitcoin will suffer and also the investors that is why we must all believe together and let us surpass all these and hope for a big success.
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Re: What's going to happen with Bitcoin?
by
bitcoinskyrocket09
on 25/06/2018, 14:33:02 UTC
Hi guys,

Nowadays every bitcoin holders got a question on their mind and that is:

"Is bitcoin future bright or dark?"

Simply this question rise up because of bitcoins dramatic price fall. But I am gonna tell everyone to keep faith on bitcoins power. I think who have already introduced with bitcoin last 2 years they know the orginal scenario of bitcoin. Last couple of weeks bitcoin price fall dramatically but we wish it will recover its turn up soon. Crypto currency is the first choice of modern generation. Already bitcoin got millipms of standard users who knows the pros and cons of bitcoin. Hence its downwords now because of some reasons like:

1] Bank owners thinks its gonna spoil their banking business.

2] Some merchant investors thinks its not safe to invest on bitcoin. It can be stolen or freeze.

3] Some users doesn't know the exact use of bitcoin.

4] Some government haven't got the exact technology to regulate bitcoin.

5] Some users are not used to with BTC.

These are the exact reason why bitcoin price is surrounded on a limited area. Its just a matter of time to resolve all these issue.Then it will be a new era of Bitcoin.

Here is some reasons what's gonna make the difference:

1] Already most of the countries agreed to lead their economical strategy with bitcoin. Just government wants to make some rules and regulation to make a safer financial environment.

2] Rival online companies are keen to accept their payment on bitcoin. Because its the fastest and secure payment gateway for them.

3] In some countries bitcoin ATM is going successfully & users are pretty much happy with it.

4] Crypto trading platforms are getting much popular than forex, stock markets. Worldwide investors are showing their interest to crypto trading.

5] peoples are very interested to use bitcoin on their daily purchase payment option specially on super markets grocery shops, rental services where BTC is Accepted.

In my opinion bitcoin holders should keep calm and wait for the better future. Crypto currency is the most innovative invention of modern world. Its going to be the basic need of people soon. just wait & watch

Thanks

In the very soon, I think people will already come to realize that the use of bitcoin and bitcoin itself is going to be a revolutionary system someday. The technology behind bitcoin is the future. It is one of a kind that has a high potential as a new form of payment online and offline. This technology would also make the world smaller and making some more smooth transaction whenever and wherever it is. Bitcoin might be not yet very stable, but soonest it is going to be a big hit for bitcoin and bitcoin users.
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Board Bitcoin Discussion
Re: Bitcoin failed as a currency
by
bitcoinskyrocket09
on 25/06/2018, 14:28:12 UTC
Bitcoin was supposed to be used as a currency, not only a form of investment. However, it's been more successful as a form of investment, a "speculative asset".

Do you guys think that this can change in the long term ?

Well, bitcoin has failed as a currency since its all about the investment and some profit making. And it is not the original purpose of bitcoin creation. Hence, many crypto enthusiasts prefer more to use bitcoin for investment. And instead of payment method they are more fun in investments. I believe that bitcoin can only perform as a currency if some holder and inventors will decide to use them as a form of payment.
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Board Bitcoin Discussion
Re: The truth about bitcoin
by
bitcoinskyrocket09
on 25/06/2018, 14:21:04 UTC
To judge if bitcoin is worth to invest in, you may consider this universal monetary rule:

There is NO good, easy, risk free money, that is available for everyone.

If the money good and risk free, it is called a heritage and it is not available for everyone.
If the money is good and available for everyone, its is called an entrepreneurship and its not risk free nor usually easy.
If the money is risk free and available for anyone, it is called a salary, but that is usually not very good.

If anyone claims, that money is good, easy, risk free and anyone can get their share of it, it is essentially a scam. Doesnt matter if You are being scammed with money, electricity or just waste of time. It also doesnt matter if there are several people who get scammed big time at once or millions, that are scammed bit by bit, it is still a scam. Any deal, where people are attracted with false promises and where the nature of their investment is kept hidden by purpose, is a scam. Bitcoin is not what promised and that fact is being disguised now.



The truth about Bitcoin is that as of now, it is the most stable cryptocurrency that is being used among all the ALT coins that are posted. And yes, the price value of btc may goes up and goes down. It only depende on the volume of investment that are being put in the bitcoin at any given time during the market trading. And also, the bitcoin was been proved to have a good support system in placed.
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Board Bitcoin Discussion
Re: actual number of people using Bitcoin?
by
bitcoinskyrocket09
on 24/06/2018, 13:01:10 UTC
Is there a way to determine the number of people who are actually using Bitcoin till date? Who would have access to such information? Meaning a way to find out, how many new people have used Bitcoin in 2016 , so that we can say exponential growth is natural not artificially created by hoarders.
I think there is no actual number that will define on how many are the bitcoin users as of now. Because it seems like everyone is anonymous here and even the many very private individuals who are enjoying the good benifits that bitcoin gives. For these days, it depends only on how the stockmarket works and also how many are really interested and willing to know this type of currency in the internet.
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Board Bitcoin Discussion
Re: What does bitcoin need to improve?
by
bitcoinskyrocket09
on 24/06/2018, 12:36:37 UTC
I can clearly see that there are other cryptocurrencies that are beginning to dethrone bitcoin, showing off there quick and secured transactions, though bitcoin continues to be the king. What does bitcoin need to improve state your opinions.
In my own opinion, I think that there is no need for the bitcoin to improve its sytem. It was developed less than a decade back the and it seems like the people loves the way it is and the way how bitcoin work its system. If ever that there is an update with it then I think it is the time that bitcoin should pursue lightning networks to it because it will help for more good transaction to become faster, easier and it will help to lessen the charges of the users.
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Board Altcoin Discussion
Re: Are you fulfilled in cryptocurrency?
by
bitcoinskyrocket09
on 24/06/2018, 12:26:12 UTC
Forget about the tokens in your wallet and forget about the number of bitcoins you hold. Are you really fulfilled to be a cryptocurrency geek? I am fulfilled for being  part of this new technology: Blockchain, Bitcoin ,alternative currency, mining , masternode, trading and exchanges. I am proud of the knowledge I have obtained. I am delighted about the numerous tokens I have - both shit coins and profitable coins. I am proud of learning and working through bounties. Truly I am fulfilled, but I need more work to do. What about you?
As for me, I was really then satisfied because bitcoin taught me about investing and also the use of trading. I learned a lot in the world of cryptocurrency because my cousin taught me to. There is also an alternative currency that can be used. In bitcoin, my knowledge had also increased and most especially the investment of some people will grow. People can try this also. Investing and particating also in some bounty campaigns.
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Board Bitcoin Discussion
Re: Best way to store Bitcoin safely ?
by
bitcoinskyrocket09
on 24/06/2018, 12:16:05 UTC
Hi guys
I know this might sound like a newbie question, but Ive not had enough bitcoin to think about putting any in cold storage since Cryptsy ripped me off when they went down Sad
But just lately ive built myself back up a bit, and just need to check my understanding of a creating a cold wallet is correct ? This is what I think was the best way but im not sure Huh

1. Download latest BTC client
2. move to a pc not connected to the internet.
3. Create an address on that PC without internet.
4. Send fund to address created on PC with no internet access.
5. Save keys in safe place Smiley

Also I was wondering if there are any 100% safe third party wallets that enable quick access if needed ?

Sorry if my question has been covered many times, but I just don't want to make a big mistake.

Thanks
Rick
I think the safest way to save your bitcoin is by using the bitcoin client in your personal computers. And the the main key to keep all your bitcoins safer is to keep them away from any suspicious hardware and keep away from the use of internet during transactions. With that I believe that your bitcoin will be safe in that computer for a very long period.