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Showing 20 of 119 results by dasein
if with just 10BTC can make you become a millionaire , what about people who own 1000BTC? i think they'll be a quillionaire 
If 10 BTC made you a millionaire, then someone with 1000 BTC would be worth $100,000,000. In 2013, there were over 50,000 people who had at least $100,000,000. If you had 100,000 BTC, they would be worth $10 billion. In 2013, there were over 2000 billionaires.
Re: China discovers undersea gold reserves estimated at $16.4bn
Even if they dug it all up tomorrow it still wouldn't affect the price, China doesn't sell gold.
"China dumped a huge amount of gold on the market and investors are spooked." - July 20, 2015: http://www.businessinsider.com/gold-price-flash-crash-caused-by-five-tonnes-of-chinese-bullion-2015-7
these predictions remind me of a commercial where a guy asks genie "a million bucks" and genie promptly delivers 1mil male deer/antilopes.
$300K number is irrelevant in 10-20 years because we don't know what it would mean then.
If you say: each bitcon=6667 barrels of oil or each bitcoin=25K movie tickets or each bitcoin=Ferrari FF or Rolls Ghost, then OK
$300K number is irrelevant in 10-20 years because we don't know what it would mean then.
If you say: each bitcon=6667 barrels of oil or each bitcoin=25K movie tickets or each bitcoin=Ferrari FF or Rolls Ghost, then OK
The oil price isn't exactly stable, we don't know what 6667 barrels of oil means in 10-20 years from now either. I'm guessing OP means $300,000, adjusted for inflation, with the same purchasing power as $300,000 today.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
there is a whole list... just to mention some.
slow confirmations
blocksize
energy consumption
outdated blockchain tech
banks dont give a damn
bad reputation
usage is down
regulatory issues on exchanges
scams everywhere
blockchain is the future, but Bitcoin itself has no intrinsic value and its price is purely based on speculation.
350 million gigahashes per second beg to differ.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Now what would you suggest? I have sold few bitcoin at 305 dollars and now I am holding $$.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Hi. New member here. 
Read a few pages of topic, but didn't get my answer. Can someone please explain what happened in the recent days? We've had an increase of about $70 for every BTC price in just a few days. As a proud owner of 1.5 BTCs I wanna know what causes that, and do you think the trend will continue or not?
Thanks.
Read a few pages of topic, but didn't get my answer. Can someone please explain what happened in the recent days? We've had an increase of about $70 for every BTC price in just a few days. As a proud owner of 1.5 BTCs I wanna know what causes that, and do you think the trend will continue or not?
Thanks.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
So what Is so Great about this bitlisence?
Indeed, it adds legitimacy in the eyes of certain players.
It is another straw.
Way to sell out to the banksters.
/ignored.
Thanks for selling us out to The Man for thirty pieces of silver, Judas. You're pathetic.
Idiot.
No, klovenhuff is right. All the ideology and freedoms fall by the wayside 'soon as there's a chance to turn a quick buck.
Not Judas-caliber, but a sellout for sure
There's a difference between libertarianism and anarchism.
Re: Four Charts That Suggest Bitcoin Value Could Be At 10,000 USD Next Year
Well I definitely prefer the "RALLY!!!!!!" Thread.
Everyone here is too realistic. We can all dream here guys come on. Don't piss on my fire.
Everyone here is too realistic. We can all dream here guys come on. Don't piss on my fire.
Not realistic enough lol.
Not downing on your dream, but some of us want to see realistic scenarios, not like what we saw at mt.gox.
I know you want to see those kinda events again, I mean who wouldnt, but now its more of what will actually move us forward.
Don't mistake cynicism for realism. The dreamers win in the end.
That's so true! Let greedy money-changers sell holy Bitcoins for money, growing fat on our poverty. Let their children bask in luxury. Let their satanic spawn study godlessness ad other so-called "sciences" in fancy ivy-league universities, while ours pick through their trash!
For The Good Book tells us, "It is easier for a camel to go through the eye of a needle, than for a rich man to enter into the kingdom of God."
The poorer and humbler our Bitcoin makes me, the sooner I will return to Him, to dwell in His tabernacle for ever and ever!
Selah, Brother Bitcoiner, Selah!
Re: Four Charts That Suggest Bitcoin Value Could Be At 10,000 USD Next Year
Well I definitely prefer the "RALLY!!!!!!" Thread.
Everyone here is too realistic. We can all dream here guys come on. Don't piss on my fire.
Everyone here is too realistic. We can all dream here guys come on. Don't piss on my fire.
Not realistic enough lol.
Not downing on your dream, but some of us want to see realistic scenarios, not like what we saw at mt.gox.
I know you want to see those kinda events again, I mean who wouldnt, but now its more of what will actually move us forward.
Don't mistake cynicism for realism. The dreamers win in the end.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Gotta say, that article seems incredibly misguided to me.
I think BTC might have issues with confirmation time right now that prevent a ton of in-store user adoption, but the long-term important advantage that BTC has, in my view, is transaction cost. Apple isn't going to reduce transaction cost one iota for anybody in the chain, from what I can tell, but somebody pleae correct me if I am wrong.
For ordering online for next-day ship, fo airline tickets, for anything that doesn't require immediate change-of-possession, there is a 4%+ advantage to using BTC.
I just wish somebody would integrate a BTC wallet with gasoline pumps and come up with a way for me to put gas in my car while saving that 4%+, then split that savings with the merchant.
Apple just provides a slicker interface for using the same system of usury.
Apple Pay will always only work on Apple devices, thus limiting its ability to take the whole mobile payments market. Meanwhile it will build out NFC payment infrastructure and get the consumer used to mobile payments, paving the way for BTC.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
http://nakamotoinstitute.org/mempool/im-hoarding-bitcoins-and-no-you-cant-have-any/
Quote
One of the most annoying things about Bitcoin is that its so convenient to make payments with it that sometimes it is extremely tempting to spend it and avoid the hassle of using dollars. One of the ways to help deal with the temptation to spend is to demand a Bitcoin discount at any store that accepts Bitcoin. This is perfectly reasonable because not only is the store lowering its own costs by using Bitcoin, but it is asking me to give up an inherently superior commodity.
Hoarders are more important than merchants. If a restaurant downtown starts accepting bitcoins, this does not necessarily create an incentive for anybody to buy more bitcoins. Why would anyone bother if they can still just use a credit card? If you can convince a merchant to accept bitcoins and stop accepting dollars, then Ill be impressed.
Unless a merchant is offering something that cannot be bought for dollars, or at least offering a discount, he is only benefiting Bitcoin to the extent that he encourages more hoarding. If he immediately converts the bitcoins he receives as payment into dollars, and if his customers only buy bitcoins so as to spend them at his shop shortly thereafter, then neither has much direct effect on Bitcoins demand. The real hero is the hoarder behind the scenes who buys from the merchant and enables him to convert his payments into dollars.
Hoarders are more important than merchants. If a restaurant downtown starts accepting bitcoins, this does not necessarily create an incentive for anybody to buy more bitcoins. Why would anyone bother if they can still just use a credit card? If you can convince a merchant to accept bitcoins and stop accepting dollars, then Ill be impressed.
Unless a merchant is offering something that cannot be bought for dollars, or at least offering a discount, he is only benefiting Bitcoin to the extent that he encourages more hoarding. If he immediately converts the bitcoins he receives as payment into dollars, and if his customers only buy bitcoins so as to spend them at his shop shortly thereafter, then neither has much direct effect on Bitcoins demand. The real hero is the hoarder behind the scenes who buys from the merchant and enables him to convert his payments into dollars.
Not to change the topic of the post.
But I think the main problem with bitcoin mass adoption is there are no guarantees against the owner in cases of theft and mis use.
The reason why credit costs more for merchants is because the interbanks get paid most of the interchange fees (interest and transaction fees) and the credit procesors Visa, amex, mc get paid the association fees. But the banks cover most of the costs in case of fraud and stolen cards and accounts and most customers are not liable if the transactions are abided by the rules of the credit card companies. They know this happens alot and to keep commerce moving with more sales this is a built in "expense".
With btc if consumers have their wallets hacked or stolen easily the btc is pretty much gone and it will detract from mass adoption because there is no recourse for refunds. And this will mean less people use it, and less incentive for merchants to adopt it, even though it is good saving for them versus credit card transaction costs.
This isn't an inherent problem with btc itself, it's more a function of a new market without sophisticated financial institutions that will protect the consumer against fraud and theft. The New York regulations make it all the more likely that those institutions will be created.
The NY rules only want more info on the buyers and sellers of the btc, in case they have to trace back to illegal activities.
They dont address wallet security. Imagine people having codes on their cellphones and losing them. This is much easier than losing large amounts of cash or credit.
The regulations address capital reserves and other consumer protections, and obtaining a license from the state reduces the risk for banks and insurance companies to transact in bitcoin.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
http://nakamotoinstitute.org/mempool/im-hoarding-bitcoins-and-no-you-cant-have-any/
Quote
One of the most annoying things about Bitcoin is that its so convenient to make payments with it that sometimes it is extremely tempting to spend it and avoid the hassle of using dollars. One of the ways to help deal with the temptation to spend is to demand a Bitcoin discount at any store that accepts Bitcoin. This is perfectly reasonable because not only is the store lowering its own costs by using Bitcoin, but it is asking me to give up an inherently superior commodity.
Hoarders are more important than merchants. If a restaurant downtown starts accepting bitcoins, this does not necessarily create an incentive for anybody to buy more bitcoins. Why would anyone bother if they can still just use a credit card? If you can convince a merchant to accept bitcoins and stop accepting dollars, then Ill be impressed.
Unless a merchant is offering something that cannot be bought for dollars, or at least offering a discount, he is only benefiting Bitcoin to the extent that he encourages more hoarding. If he immediately converts the bitcoins he receives as payment into dollars, and if his customers only buy bitcoins so as to spend them at his shop shortly thereafter, then neither has much direct effect on Bitcoins demand. The real hero is the hoarder behind the scenes who buys from the merchant and enables him to convert his payments into dollars.
Hoarders are more important than merchants. If a restaurant downtown starts accepting bitcoins, this does not necessarily create an incentive for anybody to buy more bitcoins. Why would anyone bother if they can still just use a credit card? If you can convince a merchant to accept bitcoins and stop accepting dollars, then Ill be impressed.
Unless a merchant is offering something that cannot be bought for dollars, or at least offering a discount, he is only benefiting Bitcoin to the extent that he encourages more hoarding. If he immediately converts the bitcoins he receives as payment into dollars, and if his customers only buy bitcoins so as to spend them at his shop shortly thereafter, then neither has much direct effect on Bitcoins demand. The real hero is the hoarder behind the scenes who buys from the merchant and enables him to convert his payments into dollars.
Not to change the topic of the post.
But I think the main problem with bitcoin mass adoption is there are no guarantees against the owner in cases of theft and mis use.
The reason why credit costs more for merchants is because the interbanks get paid most of the interchange fees (interest and transaction fees) and the credit procesors Visa, amex, mc get paid the association fees. But the banks cover most of the costs in case of fraud and stolen cards and accounts and most customers are not liable if the transactions are abided by the rules of the credit card companies. They know this happens alot and to keep commerce moving with more sales this is a built in "expense".
With btc if consumers have their wallets hacked or stolen easily the btc is pretty much gone and it will detract from mass adoption because there is no recourse for refunds. And this will mean less people use it, and less incentive for merchants to adopt it, even though it is good saving for them versus credit card transaction costs.
This isn't an inherent problem with btc itself, it's more a function of a new market without sophisticated financial institutions that will protect the consumer against fraud and theft. The New York regulations make it all the more likely that those institutions will be created.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Just another artificial pump. All of you just need to pray that those few who are actually controlling the whole BTC market will not dump it all in the next few weeks.
When the dollar finally has its crashing part, these times will look like cheap times.
Argentina just got an exchange. A shit storm is a brewin...
Most of btc's early adopters are truth and liberty seeking folks.
Give them more credit...
Bitcoins were created by some very smart people, who most probably are controlling it right now. Who is using bitcoins in real life? Nobody. It is just an artificial medium for cash laundry, for selling some useless hardware (miners) for very high price.
Many drug and paedophile dealers are really pleased to have something like bitcoin, so they can do their stuff totally undercover.
That is it. Any mentally healthy person wouldnt build his business on BTC, any smart person will invest money in BTC because it is controlled by few people, and you never know what will happen tomorrow: will they pump it? Or maybe sell everything and wave you bye bye?
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Fortunately for you, if these things bother you and you'd rather have a malleable money supply managed by unelected officials who can seize funds and reverse transactions at will: you are well served with the current monetary paradigm - be it Keynesian, monetarist or neocon - the differences are of cosmetic character, really.
Those of us with the (obviously wrong!) view that a monetary system should be predictable and not prone to manipulation by individuals have been longing for the chance to try out something like that. It will quite obviously fail, because centralized systems run by experts are naturally superior to decentralized systems run by no one but some people just need to convince themselves on their own, deferring to the wise opinions of experts is not enough for them. And who knows - if by some freak accident such a monetary system turns out to be better than what we have now, you will benefit as well
My preferences are not important. The point is that a system that does not allow the forcible return of stolen property will not be acceptable to society, except for thieves and other criminals. In the end, it will be rejected even by the libertarians who now think that irreversibility is a good thing.Those of us with the (obviously wrong!) view that a monetary system should be predictable and not prone to manipulation by individuals have been longing for the chance to try out something like that. It will quite obviously fail, because centralized systems run by experts are naturally superior to decentralized systems run by no one but some people just need to convince themselves on their own, deferring to the wise opinions of experts is not enough for them. And who knows - if by some freak accident such a monetary system turns out to be better than what we have now, you will benefit as well
Cash is just as irreversible as bitcoin. Transactions that require reversibility are implemented where the parties are willing to pay the additional cost of escrow, insurance, or whatever specific reversibility mechanism is desired, and those mechanism are cheaper to implement in crypto-currencies as compared to cash.