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Showing 20 of 63 results by jrobi4life
I've seen quite a few examples of "decentralized" exchanges but hardly any of them really qualify to be called decentralized in my mind. Maybe Bisq is the closest I've seen. Nearly all these supposedly decentralized exchanges, while very good at what they do, are based on Ethereum ERC20 tokens and smart contracts. So calling them decentralized is not accurate. They are very much centralized because if anything happens to Ethereum they fall. Ethereum is a company, so the platform can have pressure put on it from both internal and external forces including regulators and other government officials in the back pocket of the big banks. To be a truly decentralized exchange an exchange needs to be opensource, peer-to-peer and not be dependent on any other crypto that is not also opensource and peer-to-peer. The developers of the decentralized exchange should also preferably be anonymous and let their code speak for them.
I remember in the days before Ripple was introduced, Ethereum was seen as the big bad wolf in sheep's clothing that came to cryptocurrency to undermine it's decentralized nature. And it seems like Ethereum has been largely successful in doing this. I'm personally invested in Ethereum and some ERC20 altcoins but I don't trust a supposedly decentralized exchange based on Ethereum much more than an online exchange. Shutting down Ethereum would not be so much more difficult than shutting down an exchange, except maybe for the fact that Bill Gates and other big names are involved. Still, so many cryptos and platforms are dependent on Ethereum that it is a major single-point-of-failure for the entire industry.
Who has a good non-Ether based DEX?
I remember in the days before Ripple was introduced, Ethereum was seen as the big bad wolf in sheep's clothing that came to cryptocurrency to undermine it's decentralized nature. And it seems like Ethereum has been largely successful in doing this. I'm personally invested in Ethereum and some ERC20 altcoins but I don't trust a supposedly decentralized exchange based on Ethereum much more than an online exchange. Shutting down Ethereum would not be so much more difficult than shutting down an exchange, except maybe for the fact that Bill Gates and other big names are involved. Still, so many cryptos and platforms are dependent on Ethereum that it is a major single-point-of-failure for the entire industry.
Who has a good non-Ether based DEX?
Re: Now That We're Above $5000, how long until we hit $10,000 BTC
I think it is possible by 2020 because many countries will accept bitcoin as another payment method for purchasing lot of things. By 2020 Bitcoin is going to build large community where it can have more value.
That's way too late. $10k is possible by next year. Some so called experts are even predicting $20k by next year's end. That's awfully optimistic in my opinion.
You were right about 2020 being way too late. However you were not bullish enough predicting 20k by next year's end... What do you think about it hitting 20k by this year's end now?
Re: Now That We're Above $5000, how long until we hit $10,000 BTC
November is not a possible date for that moment. It would be either on the first or second quarter of year 2018. If ever I see bitcoin reached $10k before 2018 then I will be terrified because I know it'll be like an omen that bitcoin will have a possible huge crash. We don't need to hurry because we will be eventually going there.
Well, this is a hard question when is the actual date we can hit $10,000 btc. Maybe we could reach probably year of 2018 because of the demand is increasing. So, I can say this is possible but not this year maybe next year, let's just see and wait it to be happen.Maybe next year...A swing and a miss... gotta say the hero and senior members all got this one wrong...but I'm sure you're happy you were wrong
Re: Now That We're Above $5000, how long until we hit $10,000 BTC
I dont think that Bitcoin will reach $10k in November (even in the end). However it can still reach this point by the end of 2017.
You were almost right. We saw $10k on November 29th
Re: Now That We're Above $5000, how long until we hit $10,000 BTC
With Bitcoin basically making Dimon shut his mouth and his own company helping to make him look like even more of a Jack*ss, plus the hardfork that's coming, I wouldn't be surprised if we saw $10,000 bitcoin by the first of November
A conservative estimate will be that we will see that price in four years but seeing how fast bitcoin is moving and the velocity at which improvements are being made on the network I will not be surprised if bitcoin was able to reach that price at the end of 2018.Re: Now That We're Above $5000, how long until we hit $10,000 BTC
With Bitcoin basically making Dimon shut his mouth and his own company helping to make him look like even more of a Jack*ss, plus the hardfork that's coming, I wouldn't be surprised if we saw $10,000 bitcoin by the first of November
Hitting $10k mark is a difficult task and I am sure that is not going to happen anytime soon. Definitely not within this year. I like your positive nature and we need more people like you who have a positive outlook towards bitcoin. But technically speaking, it is not going to happen in this year. Probably by the end of next year we may see that bitcoin price is moving towards 10k USD.
I don't want to discourge you but to reach 10k USD, the market cap needs to be at least 1.3 trillion USD for bitcoin which is way higher than the GDP of majority of the countries. To reach that market cap, bitcoin needs mass adoption. However, like you, I will also hope that bitcoin price will reach 10k USD mark pretty soon because then I will be able to call myself rich.
Hey you were totally wrong but congratulations on now being rich...
I've given thought to this as well, some sort of multi-sig solution with a deadman switch where you can also provide your family with instructions.
No reason it can't be a dApp... and by your logic no one would write a will because everyone's family would already have free use of their stuff.
Right, but that's exactly what wills are for, and a will with the private keysThere's absolutely no such need for a service for such a simple problem. How can you trust a centralized entity to give your Bitcoins to your family upon death, when you can't trust your family with your wallet?
It's completely useless, just ensure that they have access to your private keys.
It's completely useless, just ensure that they have access to your private keys.
No reason it can't be a dApp... and by your logic no one would write a will because everyone's family would already have free use of their stuff.
and instructions as to who gets what is all that's needed. There doesn't need to
be a service for this, which would probably be a scam anyway. If you write a will,
that's all you need to do.
A will either requires trust, or an insecure storage of private keys, probably both. It makes much more sense to use this programmable money to its potential, a trustless and decentralized deadman switch would be a much more reliable solution and should be trivial from a technical perspective. As for saying any such service would have to be a scam, you'd have to apply that logic to lawyers too then. The "service" need only be an interface to do what is already possible in a decentralized and trustless way.
Yes leaving a lawyer in charge of your private keys would be very risky. Not only would he have access, any number of paralegals or secretaries could have access too. If they have those keys they can rob you with no trace. Much better to have a decentralized solution to protect your decentralized currency. Normally lawyers would be agents of trust for a bank account or maybe a safe deposit box, where if they tried to withdraw the funds or access the safe deposit box there would be records of their identity and in the case of a bank transfer, an easy to follow paper trail. Leaving private keys with a lawyer would be like leaving him untraceable cash. Except no one would even have to inconvenience themselves to sneak it out of the office. Anyone could instantly take it if they can get so much as a glance at those private keys to write them down or take a quick photo.
That already exists. A will is most often in a sealed envelope, and you just need to add to it the keys to your wallet. Lawyers have been handling those kinds of things for decades.
But this is a different space. Do lawyer even know how to deal with bitcoin private keys? how do you know you can trust them? Has this ever been done before?
I would need to see how this actually went down in a real case, I just can't trust people including lawyers.
I agree. A lawyer is a single point of failure. With a decentralized solution that deposited the funds to an account after x number of days of inactivity by the person who signed up for this decentralized service there would be no need to trust a 3rd party (lawyer)
what do you think about inheritance service? if something will happen what will your family do with your bitcoins? do they have access to your wallet? do they even know what bitcoin is?
I really think that there is a place for inheritance service in the near future
I really think that there is a place for inheritance service in the near future
I can definitely see a use for it but it would have to be something totally decentralized. Perhaps a service that you tied to a second bitcoin address to that you give the beneficiary access to. The bitcoin inheritance service could have some type of logic bomb where if the account was not accessed for X number of days it would automatically transfer the funds to the the address your family had access to. Could also be done with a regular bank account integrating something like the Coinbase API
Re: Now That We're Above $5000, how long until we hit $10,000 BTC
With Bitcoin basically making Dimon shut his mouth and his own company helping to make him look like even more of a Jack*ss, plus the hardfork that's coming, I wouldn't be surprised if we saw $10,000 bitcoin by the first of November
I would not really say Dimmon has shut his mouth yet cause he still seems angry his words did not make any impact and he is still talking based on the recent news on CNBC. However, he is a Jackass (no need being modest about it) and he would definitely end up getting what he deserves at the long run.I only pity those who are taking his word for it knowing it is a piece of shit, and I am sure Dimmon has a wallet somewhere with BTC in it and that makes him a hypo!
Yeah I think Dimon is definitely a hypocrite. He's trying to divide and concur saying he loves Blockchain but hates bitcoin. He's basically just saying he only likes blockchains that his company is invested in and stand to make the most profit from
Re: Now That We're Above $5000, how long until we hit $10,000 BTC
It is too soon to predict it, but i think that we are going to go through a huge dip after this mess of the fork, and we are far away from $10k, that is more than 2x from now.
We need to face hundreds of good news to reach that price, and it is pretty impossible right now without the help of any governments or good financial assets.
But it still have some hope about it, i am going to sell my bitcoins at $8000 so i am close to that rate.
We need to face hundreds of good news to reach that price, and it is pretty impossible right now without the help of any governments or good financial assets.
But it still have some hope about it, i am going to sell my bitcoins at $8000 so i am close to that rate.
You think the dip we just saw down to $5200 was enough for it to continue toward the moon? I'm more bullish than ever.
Re: Now That We're Above $5000, how long until we hit $10,000 BTC
Probably will take at least a week 
That's the type of enthusiasm I like. lol There are only about 18,000,000 bitcoin. It could literally happen any moment lbvsRe: Jamie Dimon's New Rant Shows Banking's Weak Hand. Quotes with Translations
I disagree. Sure, he doesn't understand bitcoin at all beyond how it can be used for illegal activities, but I think he genuinely doesn't care and thinks it's a joke. You are looking at a guy that has a fund that moves trillions of dollars a day while BTC is still a drop in the sea of money.
He is just looking at it from the perspective of a power drunk guy that can't see any treats to the status quo as realistic.
He is just looking at it from the perspective of a power drunk guy that can't see any treats to the status quo as realistic.
His comments aren't the comments of someone who doesn't care. He may not completely understand Bitcoin from a technical standpoint but he understands it takes the power out of the big banks hands and puts it in the hands of the people and that is enough for him to be totally against it. What he also knows is how fragile the international banking system is. It's based on derivatives of derivatives. For every real earned dollar that goes into a bank they put between 100 and 1000 on their books. So the underlying real asset is only between 0.1 and 1% of whats on their books. They also do the same thing for money that they haven't even received yet but are owed. When people don't make new deposits or pay debt the results to the banking system are exponential as we saw in 2008. Since then they've actually gotten even more aggressive with fiat creation through the fractional reserve system. Plus as big as Chase is, it's still only one of a handful of major banks. The gross domestic product for the whole world is only estimated to be about 75 Trillion for 2017. So when Dimon talks about moving 16 trillion around per day (5,840 Trillion per year), the vast majority of that is money the banks have created out of thin air based on the fractional reserve system. Even calling it a house of cards is generous. If Bitcoin takes even just a few percent of the global currency market everything collapses.
Re: Jamie Dimon's New Rant Shows Banking's Weak Hand. Quotes with Translations
Quiet understandably you don't expect any conventional banker to support the Bitcoin idea. The blockchain technology is really taking away their jobs and making a mockery of the whole banking system. Dimon isn't saying anything strange to the public. Whether he admits it publicly or not, we obviously know that he (and his ilks) is threatened by Bitcoin.
The first comments he made sounded more antagonistic but this round of comments came off a lot more defensive to me because he knows Bitcoin is making a fool out of him.
I think it's a great idea. Wish I had thought of it. Buy an equal number of coins for each of the forks and tokenize that fund. The price would be an aggregate of all the forks and it would act as a sort of Bitcoin mutual fund. The only thing is that each time there was a new fork you would have to redivide the fund but that wouldn't be very difficult
Jamie Dimon's New Rant Shows Banking's Weak Hand. Quotes with Translations
Just a day after saying he wasn't talking about Bitcoin anymore Jamie Dimon went on a rant where he called Bitcoin users stupid among other things. He is looking more and more like a scared animal backed into a corner as even his own daughter invests in Bitcoin. His statements were filled with self-serving contradictions. Here are some of the quotes from his speech at the Alpha Conference and what I think they really mean.
1. I could care less about bitcoin.
Translation: I'm really threatened by Bitcoin
2. The blockchain is a technology which is a good technology. We actually use it. . . . God bless the blockchain. Cryptocurrencies, digital currencies, I think are also fine. JPMorgan moves $16 trillion around the world every day, we dont do it in cash, its done digitally. If it can be done digitally with the blockchain, so be it. But it will still be a dollar cryptocurrency.
Translation: Obviously I know how valuable Bitcoin is. Otherwise we wouldn't be copying it's technology and trying to steal it's thunder. I want to divide and conquer by saying blockchain technology and the cryptocurrencies we're involved with are valuable and at the same time poo-poo on Bitcoin. I don't like Bitcoin because it makes me and my company totally useless in the long run. My nightmare is for the majority of that 16 Trillion to flow into Bitcoin. We have to protect our global monopoly.
3. What I have an issue with is a non-fiat cryptocurrency,
Translation: I feel REALLY REALLY threatened by Bitcoin
4.I dont personally understand the value of something that has no actual value. You all can do whatever you want and I dont care. I could care less what bitcoin trades for, how it trades, why it trades, who trades it. If youre stupid enough to buy it, youll pay the price for it one day. . . . The only value of bitcoin is what the other guy will pay for it.
Translation: I have conveniently pushed to the back of my mind that fiat currency has no actual value and is worth even less than 0 because we lend out up to 100 times more than we actually have and it's only value is what the other guy will pay for it. Now that everybody's on to us, that value is decreasing by the day. Please don't abandon our system! We need you! Please buy our debt based currency! Please!! Our house of cards could collapse at any time and I feel REALLY REALLY REALLY threatened by Bitcoin!!!
I think his comments are actually helping Bitcoin at this point because they reveal his fear of Bitcoin and how weak the argument against Bitcoin/for fiat is. What if anything do you think his comments mean for Bitcoin?
1. I could care less about bitcoin.
Translation: I'm really threatened by Bitcoin
2. The blockchain is a technology which is a good technology. We actually use it. . . . God bless the blockchain. Cryptocurrencies, digital currencies, I think are also fine. JPMorgan moves $16 trillion around the world every day, we dont do it in cash, its done digitally. If it can be done digitally with the blockchain, so be it. But it will still be a dollar cryptocurrency.
Translation: Obviously I know how valuable Bitcoin is. Otherwise we wouldn't be copying it's technology and trying to steal it's thunder. I want to divide and conquer by saying blockchain technology and the cryptocurrencies we're involved with are valuable and at the same time poo-poo on Bitcoin. I don't like Bitcoin because it makes me and my company totally useless in the long run. My nightmare is for the majority of that 16 Trillion to flow into Bitcoin. We have to protect our global monopoly.
3. What I have an issue with is a non-fiat cryptocurrency,
Translation: I feel REALLY REALLY threatened by Bitcoin
4.I dont personally understand the value of something that has no actual value. You all can do whatever you want and I dont care. I could care less what bitcoin trades for, how it trades, why it trades, who trades it. If youre stupid enough to buy it, youll pay the price for it one day. . . . The only value of bitcoin is what the other guy will pay for it.
Translation: I have conveniently pushed to the back of my mind that fiat currency has no actual value and is worth even less than 0 because we lend out up to 100 times more than we actually have and it's only value is what the other guy will pay for it. Now that everybody's on to us, that value is decreasing by the day. Please don't abandon our system! We need you! Please buy our debt based currency! Please!! Our house of cards could collapse at any time and I feel REALLY REALLY REALLY threatened by Bitcoin!!!
I think his comments are actually helping Bitcoin at this point because they reveal his fear of Bitcoin and how weak the argument against Bitcoin/for fiat is. What if anything do you think his comments mean for Bitcoin?
Re: Now That We're Above $5000, how long until we hit $10,000 BTC
I think that the market has already shut itself off from those nasty and unnecessary FUDs and not even Putin was able to douse some cold water on the surge of Bitcoin lately. I am there would be corrections in value as the way for Bitcoin not be bubbling down but we known that once it got into a certain level it would be back soon with a vengeance. Yes, I am also optimistic and I see Bitcoin to be hitting $10,000 by next year maybe in the 2nd quarter of 2018.
I agree. The next day after Dimon said he wasn't talking about bitcoin anymore he went on a rant where he said Bitcoin users were stupid among other things and it seemingly had no effect.
Re: Now That We're Above $5000, how long until we hit $10,000 BTC
because surely, after the fork ,it will again increase and be more expensive.
Do you realize what it means for the next hard fork to be successful? If a breakaway becomes successful, the remnant is then doomed, because the breakaway would have sapped it dry. The last hard fork that produced Bitcoin Cash couldn't achieve what they had intended and Bitcoin remained stronger. If it were otherwise, we sure won't be talking of $5000 per Bitcoin today! By the way the journey to $5000 price level was so long coming, because of Bitcoin internal enemies, $10000 would be no different unless the current bullish pressure does so before the November hard fork.
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I think the only way a fork of bitcoin can be successful is if it is radically different with features unavailable on bitcoin. Having a different block size just won't be enough to keep it alive especially when they're using names like Bitcoin_fill in the blank_. To be successful it needs a totally different name to differentiate it's vision so it can begin on it's own journey. However that doesn't seem to be the nature of forks at least until now. They just end up being identical other than one or two features that a segment of the community feels strongly about. Any coin that's named Bitcoin Cash, Bitcoin Gold, Bitcoin Platinum, Bitcoin Diamond etc. etc. will just feel like a knock off in the long run and the majority of it's value will likely just flow back into bitcoin. Based on what's happened with Bitcoin Cash everyone is gearing up to follow that same pattern. The difference is, I think for these forks people will be even more keen to look for the top price and dump it right away. Which is why I think we're going to see an even more exaggerated boost in Bitcoin's price
Re: Now That We're Above $5000, how long until we hit $10,000 BTC
I think bitcoin will likely have more bad news than good news for the coming months. No major retailers have adopted BTC, there are few legal frameworks to support its use as an exchanged currency, and there is a lot of opposition due to the fact it's mostly used for money laundering and drugs purchases. I'd be happy to use BTC for most of my routine purchases if a big company would accept crypto, but that is HIGHLY unlikely to occur within the next couple of years or so. I think my estimates are reasonable, I do not see it breaking $20,000 unless a major corporation embraces it.
Bitcoin doesn't have to be accepted by any retailer to be successful. There are already plenty of Bitcoin debit cards that automatically exchange Bitcoin for fiat at the time of purchase. Also bitcoin's primary value is as a private store of value. As long as there someone that will accept bitcoin for currency we don't have to pay for our groceries in bitcoin for it to be valuable. But make no mistake, bitcoin payments at retailers are already happening and will only increase