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Showing 20 of 116 results by gbooz
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Topic
Board Bitcoin Discussion
Re: Is Facebook trying to profit from Cryptos ?
by
gbooz
on 27/07/2014, 17:37:16 UTC
They should its the future, I bet they make their own coin.

The Facecoin?

As I have learnt FB is already having Facebook credits, which is equivalent to centralized pre-mined alt coin.
this makes a lot more sense then the face coin as you know that fb credits cannot be 51%ed
Yes, because fb credits are 100% controlled/owned by the FB.

The basic difference is that that is not de-centralized and hence does not depend on cryptography.
Yes, what I am trying to say is that FB credits are not de-centralised and are not cryptocurrency.
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Topic
Board Bitcoin Discussion
Re: Informal survey: What are Bitcoin's biggest challenges?
by
gbooz
on 27/07/2014, 13:45:13 UTC
The biggest problem of bitcoin right now is trust. Actually the lack of it... Lack of trust in the bitcoin system itself, the software and the companies around bitcoin.

The thing is that only time can fix this particular problem...
I would agree regarding the trust as the currency. BTC has to become a currency, not a speculative asset for gambling. This means price stability/growth stability. Then the problem of a lack of adoption will be resolved. Yes, trust is the most important issue.
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Topic
Board Bitcoin Discussion
Re: The best Bitcoin cold storage?
by
gbooz
on 27/07/2014, 10:16:03 UTC
Just insure it and put it in the local bank safe box...  Grin
Post
Topic
Board Bitcoin Discussion
Re: Would Amazon Adoption Make the Bitcoin Price Go Down?
by
gbooz
on 27/07/2014, 10:12:07 UTC
well yeah, that's why i said whales or potential new players. and i still don't many people will say "well, i need to get some bitcoins so i can buy something from dell."

True, people are more likely to buy with bitcoin they already own, rather than go out and buy bitcoin just for the purpose of spending at Dell.

So the promotion for Bitcoin is the best thing that can come out of Amazon adoption. All the press releases would be like a free 1000 foot tall billboard with the words Bitcoin on it.
I would agree. Price fluctuations of BTC and high expectations of BTC holders makes BTC more like speculative asset, but not the currency. Today, to pay bitcoins in Amazon would be the same as to pay in the candy shop with the Microsoft or Apple shares in the 80's
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Topic
Board Bitcoin Discussion
Re: Informal survey: What are Bitcoin's biggest challenges?
by
gbooz
on 27/07/2014, 10:06:48 UTC
A good summary of challenges. Any suggestions how to overcome these?
Post
Topic
Board Bitcoin Discussion
Re: Is Facebook trying to profit from Cryptos ?
by
gbooz
on 27/07/2014, 10:03:03 UTC
They should its the future, I bet they make their own coin.

The Facecoin?

As I have learnt FB is already having Facebook credits, which is equivalent to centralized pre-mined alt coin.
this makes a lot more sense then the face coin as you know that fb credits cannot be 51%ed
Yes, because fb credits are 100% controlled/owned by the FB.
Post
Topic
Board Mining (Altcoins)
Re: Coin Mining Business?
by
gbooz
on 27/07/2014, 09:58:17 UTC
Just find me the real miner (i.e. coal miner), but not the owner of mines, who became a millionaire. The same is with the BTC mining. I would wait until the BTC mining hardware will be combined with the BBQ grill - so, you will have at least one benefit.
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Topic
Board Bitcoin Discussion
Re: Letter/Petition to Businesses to Accept & Adopt Bitcoin - Guerilla Marketing
by
gbooz
on 27/07/2014, 09:46:22 UTC
Marketing means selling. So, marketing what? BTC? You can sell your BTCs any time without any marketing.  Smiley "To businesses" - your ambitions are high Smiley Maybe you can start "guerilla marketing" of the BTC from your local grocery shop around the corner? That would be more realistic.
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Topic
Board Press
Re: [2014-07-26] Building a Bitcoin Economy: How to Close the Loop
by
gbooz
on 27/07/2014, 09:41:58 UTC
It might be useful for merchant only in the case BTC price will go up and this will create an extra gain.
Merchants have everything to gain by accepting it while giving discounts as there's already a normal markup on most items. So, cut it enough for people to want to trade you their Bitcoin for products and the more this happens and these merchants keep even a small amount of their Bitcoin sales in house as time goes by, there's no way the Bitcoin doesn't appreciate. People are suckers for deals and most women have value savers tickets on their key chains for a reason.
Actually price fluctuations of BTC and high expectations of BTC holders makes BTC more like speculative asset, but not the currency. Today, to pay bitcoins for organic wine would be the same as to pay for your drink with the Microsoft shares in the 80's. So, I would not expect that merchant's discounts will "close the loop".
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Topic
Board Press
Re: [2014-07-26] Why Bitcoin May One Day Split Into Black and White Coins
by
gbooz
on 27/07/2014, 09:34:01 UTC
It is fashionable to write about the BTC in press. But very rarely you can read something really interesting. Usually it is junk, like this article.
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Topic
Board Press
Re: [2014-07-23] YAHOO: Angry Bitcoin investors demand answers at Tokyo
by
gbooz
on 27/07/2014, 09:27:50 UTC
BTC is a high risk speculative asset. A BTC investor should know it.
Investors have risk that the price declines, however investors should not bear risk that their assets get stolen from the entity responsible holding them.
Who said that investor should take one risk but not the another? Who is primarily responsible for the risk of your cash not stolen from your pocket? Investor takes all risks, but clever investor evaluate risks against the possible profit and is not blaming others afterwords.
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Topic
Board Press
Re: [2014-07-23] YAHOO: Angry Bitcoin investors demand answers at Tokyo
by
gbooz
on 27/07/2014, 09:18:58 UTC
BTC is a high risk speculative asset. A BTC investor should know it.

You cant just say it like that. Investors carry on certain risk, ofc, but there definetly needs to be some regulation to stop thing like this from happening.
It is not the first case of bitcoin missuse, and scamming through bitcoin, and that is one of reasons bitcoin doesnt have more investors.
Some say regulation will ruin bitcoin due to centralisation of some kind, but actualy heavy regulations are needed to give bitcoin a chance to move forward.
These "investors" were not informed about the lack of regulations? I guess they were well informed and were gambling with the unregulated, highly speculative and risky asset. If you are investor, not "amateur" - you should take all risks, including the possibility of criminal issues.
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Topic
Board Press
Re: [2014-07-26] Why Bitcoin May One Day Split Into Black and White Coins
by
gbooz
on 26/07/2014, 16:18:21 UTC
It depends what the word "regulation" means in the real life. If they talk about paying taxes - the businesses are already split into those who are "white" and those who are "black". And this is not the BTC regulation problem.
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Topic
Board Economics
Re: Bitcoin or Gold? What would you pick?
by
gbooz
on 26/07/2014, 16:10:17 UTC
If you are gambler and prefer risk - BTC. If you would like to stay on safe side - gold. If you somewhere in between - both.
Post
Topic
Board Speculation
Re: [ 18 july data ] A BITCOIN PRICE THEORY
by
gbooz
on 26/07/2014, 16:06:07 UTC
According to 41515948 total address on 7/18/14 the price should have been $2088 http://www.wolframalpha.com/input/?i=P+%3D+%28+41515948+^+2.26%29+%2F+%28e+^+32+%29+  soon I hope Tongue

I was really expecting more of a rally this month up to 2-3K area

The current price is unexpectedly low considering the bottom average of the charts.
This morning the value dropped again and probably the buy wall at 590$ will be eaten.
If this trend continues the price theory should be modified a little.
Solar activity is unexpectedly low these days. And science can't explain it as it is maximum of the solar activity. Take it into account in the revised BTC price "theory". In other words - useless efforts to predict the price of the highly speculative asset. Alchemy.
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Board Press
Re: [2014-07-23] YAHOO: Angry Bitcoin investors demand answers at Tokyo
by
gbooz
on 26/07/2014, 15:56:47 UTC
BTC is a high risk speculative asset. A BTC investor should know it.
Post
Topic
Board Press
Re: [2014-07-26] Why Bitcoin May One Day Split Into Black and White Coins
by
gbooz
on 26/07/2014, 15:54:24 UTC
"The white coins would be currency that's circulated through the regulated system; black coins would be coins still off the authorities' radar"... I think you can say the same about any currency.

By the way, who are "those that want to honor bitcoin’s cyberpunk, anti-establishment roots" and are against the "mainstream adoption" of BTC?
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Topic
Board Press
Re: [2014-07-26] Building a Bitcoin Economy: How to Close the Loop
by
gbooz
on 26/07/2014, 15:45:44 UTC
It might be useful for merchant only in the case BTC price will go up and this will create an extra gain.
Post
Topic
Board Bitcoin Discussion
Re: What accounting software do Bitcoin businesses use?
by
gbooz
on 23/07/2014, 18:04:19 UTC
Any accounting software, which aloud you to enter a custom currency into the currency list.
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Topic
Board Press
Re: [2014-07-18] N.Y. Proposes Licensing Plan for Bitcoin Businesses
by
gbooz
on 23/07/2014, 18:00:43 UTC
What is expected when introducing BTC regulations in the single federal state?