Re: Why there is too much time taken for the Bitcoin transaction now a days?
by
kueyen
on 01/03/2018, 19:04:36 UTC
2 hours is not that bad, actually. It used to be way worse, especially towards the end of last year, when the transactions would take forever to complete. Hopefully, with the implementation of lightning network, things will get a lot better.
Post
Topic
BoardBitcoin Discussion
Re: KYCs (Know your Client) is killing crypto
by
kueyen
on 01/03/2018, 19:01:30 UTC
KYC is becoming a big problem for ICO investors and bounty hunters as well. It is hard enough as it is to find a promising and reputable ICO to invest your money and time in; and some inevitably turn out to be scams. It is a terrible prospect to lose your ID related information in addition to your money, if the ICO turns out to be a fraud.
Post
Topic
BoardMeta
Re: many threads are the same
by
kueyen
on 28/02/2018, 19:20:29 UTC
I'm thinking some words or phrases should be outright banned during account creation. For example, if the site detects that a user used the words "bitcoin price down" in that order in the subject, the site should not allow that thread to be created; we don't need the same thread for the millionth time. I think this is an efficient way of combating such threads.
Post
Topic
BoardAltcoin Discussion
Re: Is investing in alt-coins worth while?
by
kueyen
on 28/02/2018, 19:13:29 UTC
It was definitely more profitable a few months ago, but nowadays the trend is generally red, so it is demoralizing to try to invest in and trade altcoins right now. But once the market hopefully recovers, it's going to be better once again.
Post
Topic
BoardPress
Re: [2018-02-28] British Man in Amsterdam Allegedly Laundered €11.5m in Bitcoin Drug
by
kueyen
on 28/02/2018, 19:08:22 UTC
If anything, this sounds like a testament to how profitable cryptocurrencies can be. This guy started out selling weed, which I assume is profitable, but then switched to crypto because it was even more profitable. That' really funny to me.
Post
Topic
BoardBitcoin Discussion
Re: Bitcoin will survive in "cashless society" ??
by
kueyen
on 28/02/2018, 18:59:55 UTC
I don't see why it shouldn't survive. Sweden is perhaps the most cashless society that currently exists, and they are perfectly fine with using bitcoin. No cash means the difference between fiat and cryptocurrencies are reduced and there will be fewer roadblocks in the way of crypto adoption.
Post
Topic
BoardAltcoin Discussion
Re: sellers Accounts
by
kueyen
on 25/02/2018, 17:42:46 UTC
Why would anyone sell these accounts at these prices? $140 for a legendary account? You can make that much money in a week, using that account, if you join any bounty program. The prices are so low that it doesn't seem trustworthy. Besides, even if the prices were higher, how does the handover even work? What prevents the seller from just ignoring you once they receive the payment?
Post
Topic
BoardMeta
Re: Adding paid changename
by
kueyen
on 25/02/2018, 17:38:43 UTC
It would be a nice feature maybe, but is there really any reason to implement it? I haven't seen anyone run into any problems because they had an issue with their user names. It's a cosmetic feature at best, so maybe it remains in the pipeline because there is no urgency to implement this feature in a way which would serve a lot of people.
Post
Topic
BoardBitcoin Discussion
Re: Always, always double check addresses!
by
kueyen
on 25/02/2018, 17:32:16 UTC
This is a very smart way to implement a malware, no? Especially when you're copying and pasting addresses, you never feel the need to check it once again. Although I'm sad OP lost their money due to this malware, I'm amazed at how inventive this method is.
Post
Topic
BoardPress
Re: [2018-02-25]btcmagazine - Bitcoin Faces Pivotal Support as Bulls Exhaust Buying
by
kueyen
on 25/02/2018, 17:28:58 UTC
I might be missing it, but the analysis does not provide any explanations as to why the bitcoin price is falling, no? The FUD looked like it was beginning to dissipate, we had broken the $10K resistance, but the price started to go down once again for no apparent reason. It has started to become very confusing for me.
John Mcafee is backing KWHCoin.. please let me know your take?
Regards,
The coin itself appears to be not bad, but John McAfee backing a certain coin means nothing, pretty much. He is just spreading rumors and FUD and I haven't seen a lot of substantial news coming from him for some time.
Regulations I'm fine with, but what use is a state backed coin going to have? It's against the grain of cryptocurrencies, and no one in their right mind would invest in them. I think state backed coins are just an alternative of securities, like digital securities, sort of.
I'm pretty new to crypto, started messing around with it in January. I got a lucky hit and sold off for a gain of $300~ worth of bitcoin. Now, I'm trying to do a bit of research - a large part of that is which exchanges are better to use, for reliability and fees etc.
I've read a little bit about Segwit, and believe that's a big part of why BTC transaction fees have dropped from the $20 mark that they were at in December, but have also heard that some exchanges haven't implemented it.
Sorry if all of this sounds pretty noobish, currently I'm planning on taking the $300 gain and exchanging into fiat and/or altcoin(s). Also, what's the best wallet out there, currently? Not for long term holding, if I do go into a long term hold, I figure I'll do either a hardware or paper wallet.
Getting into crypto has been pretty fun so far, I'm enjoying messing around with it more than the gains from it, honestly
Thanks for any advice!
The biggest reason the transaction fees dropped was the reduced interest in bitcoin.When the price was booming, a lot of people were trying to do some transactions, which led to a blockchain congestion and increased fees. When people started to leave bitcoin due to this, the price started to fall, which led to people selling, which meant a lower number of total transactions, which means lower transaction fees.
Post
Topic
BoardSpeculation
Re: What Happens after the Chinese Holidays.will BTC return to its bullish trends
by
kueyen
on 23/02/2018, 10:47:57 UTC
The occasion is pretty much over already, and we're not seeing an immediate bullish trend which I think is fine. I think when people return to bitcoin en masse it is not going to be a sudden movement, but slowly and steadily. Which is good for the price, sudden explosions do not help bitcoin, as we have seen so far.
Post
Topic
BoardBitcoin Discussion
Re: One currency to rule them all?
by
kueyen
on 21/02/2018, 19:57:42 UTC
Probably not one currency, but the number of coins will be reduced drastically in the long run. Right now there is a "coin inflation", if you will, because a lot of people are trying to corner the crypto market by being the first movers. But once the dust settles, the number of coins will go down for sure.
Post
Topic
BoardBitcoin Discussion
Re: How I would approach cryptocurrency if I was a bank
by
kueyen
on 21/02/2018, 19:51:41 UTC
Well as a bank, you sign a bunch of agreements and promise to comply with certain regulations. If a bank decided to use cryptocurrencies to transfer money overseas to decrease SWIFT fees, that bank would be cut off from the international banking system and dollar system overnight. So it's not as simple as you put it.
Post
Topic
BoardBitcoin Discussion
Re: Bitcoin video on BBC. What does it mean?
by
kueyen
on 21/02/2018, 19:44:25 UTC
Well it's not like major news outlets hadn't covered bitcoin before. So it's not news. Even if they talk positively about bitcoin, once the wind starts blowing the other way, they start talking about how bitcoin is a scam and crypto is not to be trusted. These sudden swings in media opinion leads me to believe that media coverage is a zero sum game for bitcoin; at the end its benefits cancel out its drawbacks.
Post
Topic
BoardBitcoin Discussion
Re: Israel Confirms It Will Tax Bitcoin as Property
[...]The circular explains that profits from cryptocurrencies will be subject to capital gains tax at rates between twenty percent and twenty-five percent, while individuals mining or trading cryptocurrencies in connection with businesses must pay a seventeen percent value-added tax (VAT) in addition to capital gains tax.
nice. twenty-five percent and seventeen percent makes a nice forty two percent. Almost half of the money people make on bitcoin goes to the pocket of Israeli government. I have always known that the govs will regulate it eventually with the purpose of taxing it, but I have really mixed feelings about returning half of your money back.
And other governments will follow, if not now, eventually they will.
And in the middle ages the royalty was considered greedy because they taxed their subjects with 10% taxes....
It's nice that a tax was introduced (becuase it means cryptocurrencies are legal now) but 42% is really much. As such, I'm wondering whether this legislation will help because people may still try to avoid the law due to the high rate. Governments have to come up with reasonable rates, otherwise regulations will not work.
Post
Topic
BoardAltcoin Discussion
Re: Coin Tracking App help please
by
kueyen
on 17/02/2018, 09:11:50 UTC
You have to make absolutely sure that the app you are using functions correctly. If you are positive that your input is correct, then the app must be wrong. I'd like to second the Blockfolio recommendation, been using it for quite some time now and I haven't had any complaints.
Post
Topic
BoardPress
Re: 2018-02-16 US Government Not Passing Bitcoin Regulations Anytime Soon
Haven't they already passed regulations on it? Making the exchanges have "bitlicense"?, if so what are the implications on the currently passed laws. I do admire their actions though. It's true cryptos are poorly understood. They have pros and cons. It's better to keep observing it than to dismiss it in a snap.
I believe the BitLicense is only a local law, not a federal one. The processes required for bills to be passed in the federal government through the legislative branch and then to be signed by the president is a very rigorous one. This is probably one of the reasons why no significant Bitcoin or crypto regulations have been put into effect by them along with the heated political climate that has surged because of all the debates around President Trump and the partisan fights. Passing local state laws such as was the case with BitLicense in New York is easier as it is faster to find support for ideals since ideologies tend to be more biased within the local scope. I do believe, however, that any talk about crypto or Bitcoin in any legislative agenda would help promote the legitimacy of these as real currencies that can be safely use to transact with others.
The federal government is occupied with so many things which weren't a factor before Trump, that they simply don't have the time to think about crypto regulations in my opinion. Which is a shame, I'm sure if Obama was still around, crypto regulations would have been implemented way faster, since the government wouldn't be occupied with stupid things like travel bans and wall building and all that; and could concentrate on real issues.