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Showing 20 of 24 results by imeetup
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Board Bitcoin Discussion
Re: Mark Cuban's attack on Bitcoin
by
imeetup
on 08/06/2017, 20:05:52 UTC
Mark Cuban thinks it's a bubble. Clint Eastwood has an interesting opinion as well as I found in this article.

http://www.zerohedge.com/news/2017-06-06/clint-eastwoods-advice-bitcoin-speculation

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Board Bitcoin Discussion
Re: Mark Cuban's attack on Bitcoin
by
imeetup
on 08/06/2017, 18:22:05 UTC
"Mark Cuban has attacked Bitcoin on Twitter, claiming it is not a currency, it is a bubble, and that the whole system of valuation concerning it is wrong. But is he right?" 
https://futurism.com/mark-cuban-asserts-that-bitcoin-is-not-currency/

His comment caused the Bitcoin price to drop before it hit $3000.  He said Bitcoin's increasing price now is a bubble.  What do you think?

He's right, of course.  What he's missing, is that bitcoin and the rest of crypto are perfect speculative assets (by definition "bubbles") and that finance loves to gamble on speculative assets.  That's why bitcoin has indeed a bright future - but not as a currency, but as the thing it has been doing since the beginning: a greater-fool game.  There's still a world of greater fools to take.  The whole gambling sector of speculative finance (the derivatives market cap) is 10 times the world economy (about 1.2 quadrillion dollars).  This is the sector that crypto plays in, not "fiat money" (which is 100 times smaller).

The growth of Bitcoin hasn't even really begun yet. Like @dinofelis said by calling it a 'greater fools' game, it is true that a massive amount of the world population doesn't even have a clue about crypto yet... there is so much room for exponential growth left. The next few years the amount of people involved in crypto will be 5 to 10 times greater than it is now, maybe even more.



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Board Bitcoin Discussion
Re: Bitcoin vs altcoins, will they survive?
by
imeetup
on 08/06/2017, 18:10:12 UTC
Block chain technology won't ever go away. Crypto currencies will stay around in one form or the other. The current top 100 alt coins may look much different in a few years though... most of the big ones will still be around, some will diminish, new ones will come to the forefront.

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Board Bitcoin Discussion
Re: Japanese Airlines to accept bitcoins soon
by
imeetup
on 08/06/2017, 09:24:01 UTC
Japan is making the right decisions by accepting and embracing Bitcoin like this. It will help grow Bitcoin worldwide as well. It almost makes me want to move there. Smiley

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Board Bitcoin Discussion
Re: Bitcoin is useless or is it?
by
imeetup
on 08/06/2017, 05:46:06 UTC
In my opinion the high transaction costs does not make Bitcoin useless. It is still a great store of value and using it that way doesn't require frequent transferring. It is also the number one crypto currency for trading pairs on exchanges.

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Board Bitcoin Discussion
Re: Are you using low fees?
by
imeetup
on 08/06/2017, 05:41:57 UTC
I always go with the 'high' fee to make sure the transactions gets confirmed on the chain fast. I don't like having to potentially wait for weeks like some do when using really low fees. BTC isn't suitable to move very small amounts around, the fees would just be brutal, so when I do move BTC it is usually a fair amount.
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Board Bitcoin Discussion
Re: The Philippines Officially Legitimize Bitcoin as Payment Method
by
imeetup
on 08/06/2017, 05:38:52 UTC
BTC is legal to use in the Philippines, but it is not legal tender yet like in Japan.

However, the Philippines has a wildly successful bitcoin exchange called Coins.PH and you can use it to pay directly with btc for phone bills, utility bills, and send money to your friends or convert to fiat and withdraw from the ATM, without even needing an ATM card but just two pin codes they send you through SMS.

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Board Bitcoin Discussion
Re: so what happened to MegaUpload 2.0 and its revolution!
by
imeetup
on 06/06/2017, 16:52:56 UTC
Yes, he confirmed the "private beta" will be released in August. Now, "private beta" should mean that it won't be ready for public released yet, but for testing purposes.

Yes, it's clear that a "private" beta won't be ready for public prime time use. But at least there is some forward movement. I'm very interested to see the final product and I have a feeling it will be great.

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Board Bitcoin Discussion
Re: $100,000,000,000 Market Capitalisation.
by
imeetup
on 06/06/2017, 16:48:17 UTC
Crypto is now a $100,000,000,000 market. Congratulations to all believers and hodlers. How high can this nascent market get?

I'm a believer and a hodler, but the statistic you mention is skewed as some here already pointed out.

Nevertheless, the crypto market will continue to expand and grow, there is no stopping it and innovations will drive it.



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Board Bitcoin Discussion
Re: Stop Calling It A Bubble.
by
imeetup
on 06/06/2017, 16:43:21 UTC
Stop calling the recent expansion of the cryptosphere a bubble. We are not in a bubble. We are simply experiencing the rapid expansion of a nascent technology with new entrants and their fiat entering the market. A bubble is when everyone is talking about cryptos, e.g. your taxi driver, the bellboy, etc. Outside of my close circle of tech colleagues zero people are talking about Bitcoin.

I couldn't agree more. There's just a lot of new money flowing in, and in combination with the limited supply of BTC (21 Million ever) it is bound to continue to grow exponentially.

It is indeed not a bubble, in fact we've only just begun, expect much greater growth in the near future.

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Board Bitcoin Discussion
Re: BitCoin for Retirement
by
imeetup
on 06/06/2017, 12:30:37 UTC
I am living in a still-considered as a third world country which kinda suit me because the standard of living here is still low and we can easily afford all the necessities of life and even some luxuries here and there. Money here goes a long, long way at least compared to developed countries like USA or Japan for that matter.

It is then good to retire here most especially if you have the money in your purse. Now, I am planning to set aide even just 1 Bitcoin as part of my retirement plan...of course it is just part of the mix as I am also into cacao/mango/coconut farming which can also serve me well when I am retired.

Do you think 1 Bitcoin can be good for retirement...let's say 20 years from now?

It won't hurt to keep 1 Bitcoin aside... just in case it will go really high in the future. If it doesn't then it's no big loss now, but if it does it could pay for your retirement.

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Topic
Board Speculation (Altcoins)
Re: The path to BTC 4K and ETH 1K
by
imeetup
on 01/06/2017, 03:51:49 UTC
The difference in supply will make BTC grow much more in value than ETH over time.  Yes, ETH value has been growing faster over the last year than BTC did, but BTC will have only 21 Million supply ever... this will cause a parabolic effect on the price of BTC for as long as it remains popular.

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Board Off-topic
Re: What's your way of spreading Bitcoin knowledge?
by
imeetup
on 31/05/2017, 16:42:53 UTC
I really just talk to anyone about bitcoin, or I should say blockchain technology in general, to whomever wants to know about it, or not know about it, lol.


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Board Bitcoin Discussion
Re: So....Bitcoin the new alt Eth the main?
by
imeetup
on 31/05/2017, 15:10:01 UTC
Its very possible since eth has a bigger coins in circulation compared to bitcoin. As of now, bitcoin is still the number one in terms of market capitalization. What the Eth had surpassed from bitcoin is the daily trading volume. In coinmarketcap Eth is at $1,581,960,000 volume in 24 hrs while bitcoin is at $1,440,320,000.

It's amazing that it has finally come to that. I like bitcoin, it still builds on the advantage of being first, but it can't compete with the innovations coming from ETH at this point.

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Board Bitcoin Discussion
Re: That moment when you buy 1BTC at $2500
by
imeetup
on 29/05/2017, 14:01:57 UTC
That moment when you buy 1BTC at $2500, and then 3 days later someone buys it at $2000. But I'm guessing that it's the risk involved in investing, so what do I do now? Sell? Or hold on them?

You will never regret holding it. Hold, forget about for a few years, and then look at the market. I am pretty sure you will be pleasantly surprised at the value.

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Board Bitcoin Discussion
Re: Will Bitcoin overcome Paypal?
by
imeetup
on 29/05/2017, 03:31:40 UTC
There's one problem with bitcoin. sometimes absolute freedom is too much freedom. People need to feel "safe" about their money, even if it is just an illusion. Banks, Paypal, etc give people that safety. Bitcoin on the other hand, where every single transaction is final and there's no central authority, makes most people a little uncomfortable.
Yes, the chargeback option that banks offer through credit cards is one that BTC can't offer in case of a undelivered product or other issue with the sale. Potentially this could be overcome by some kind of consumer escrow function.  It would likely not be handled in a decentralized manner.

 

 
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Board Bitcoin Discussion
Re: Small fortune, now which country ?
by
imeetup
on 29/05/2017, 02:37:00 UTC
Guys, i made a small fortune in altcoin/bitcoin. In which country should i settle ?
I have no wife, no kids, just a girlfriend, i´m free to go wherever i want (she´ll go with me).
But it has to be a bitcoin-friendly country.
I have no intention to buy lambos, just a peaceful life.
Thanks.

Oh, and my age is 53, that makes a difference too.

I take it you live in the US now? Why not retire there, unless your small fortune isn't big enough to sustain you.

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Board Bitcoin Discussion
Re: Saving bitcoins
by
imeetup
on 27/05/2017, 08:03:07 UTC
Actually that is one of great advantages of bitcoin: holding it is a better investment that the options offered by banks to invest your capital in ordinary financial instruments. If you have decided to invest in bitcoins, it seems a bit incongruent to think of investing them in ordinary banks.
Couldn't agree more. Bitcoin needs to be held. Yes, the price swings with great volatility, just look at the last 2 days, all of crypto took a hit, but the trend is up and will remain up. Only just recently crypto is getting more mainstream attention and  still the majority of people do not know or understand it. I recommend 'saving' bitcoins... just accumulate and hold. Check back in a few years and you'll be happy you did.

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Topic
Board Bitcoin Discussion
Re: Bank in Norway now supports Bitcoin
by
imeetup
on 20/05/2017, 03:04:18 UTC
A bank called Skandiabanken in Norway now supports Bitcoin. However you cannot purchase the Bitcoins through the bank, you'll be redirected to Coinbase in order to buy.

I don't have this bank myself, so I cannot test this. It seems like it's just linked to Coinbase and the bank does not store the coins on their servers.

This feature is in a beta phase, and the laws in Norway could cause conflicts. I think this is a huge step, and I hope this will soon be supported in more banks. This feature is mainly for investors, you cannot use it to pay bills and such.

Here's a link to the article translated to English:  https://translate.googleusercontent.com/translate_c?depth=1&nv=1&rurl=translate.google.no&sp=nmt4&tl=en&u=http://e24.no/privat/bitcoin/naa-faar-du-bitcoin-i-nettbanken-kan-ikke-fornekte-ny-teknologi/23996559&usg=ALkJrhjVd47hlRvCuPcMw4r7-8SKmywfYw


Hmm, sounds like the common way of simply being able to link your bank account with coinbase the same way coinbase can be linked to other banks to fund a coinbase account or to sell BTC and directly get fiat deposited into the bank account.
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Board Bitcoin Discussion
Re: What type of wallet do you use?
by
imeetup
on 20/05/2017, 02:13:14 UTC
Paper wallet - it's all right there Smiley

Just make sure you check your sources and print from a clean box...and keep that piece of paper safe.  Web, exchange; anything out of your hands is extremely likely to be compromised over a physical medium (assuming you're practicing safe storage methods).

Paper wallet is the way to go. I like to obfuscate the printed characters so that if the paper somehow gets into the wrong hands they'd have no clue what to do with it.