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Showing 20 of 1,436 results by medUSA
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Board Services
Re: |||||| [ Signature Designs by medUSA ] ||||||
by
medUSA
on 30/12/2015, 11:52:09 UTC
Done a few more designs, but business owners haven't started their sig campaigns yet. Will update my portfolio with those next month, so only added my designs for CryptoTotal today.

View my updated portfolio
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Board Press
Re: [2015-12-30] Suspension Of Chinese Yuan FX Trading To Set Off Bitcoin Rally
by
medUSA
on 30/12/2015, 11:21:52 UTC
now that China suspended some foreign banks from FX trading. Capital outflows for the Chinese Yuan are getting out of hand, as investors are looking for a different safe haven.
http://bitcoinist.net/suspension-of-chinese-yuan-fx-trading-to-set-off-bitcoin-rally/

The writer have little understanding of what the PBOC is trying to do. If he does, he will realise that this has little effect on Bitcoin trading in China. PBOC suspended FX trading of 3 banks because they do not wish to see arbitrage between the onshore and offshore yuan, not necessarily halting capital outflow. They would like to see a more natural converging of the those rates. Banks which are involved in such trades with market moving volumes are not going to convert yuan to bitcoin to be sent offshore.
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Board Bitcoin Discussion
Re: Should i buy my first whole bitcoin
by
medUSA
on 30/12/2015, 10:18:45 UTC
Should i buy my first whole bitcoin ?
I just want opinions, would you buy a whole bitcoin ?

Don't force yourself to buy a whole bitcoin if you don't have enough cash. Buy 0.5 btc or any amount you can spare and buy more when you have more money. If you want an address look good with nothing but 1.0 btc in it, you can send 1 btc to a new address when you have more than 1 btc.
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Board Exchanges
Re: E-Coin Bitcoin Debit Card
by
medUSA
on 22/12/2015, 21:47:38 UTC
We are giving away FREE virtual cards to everyone, $190 in bitcoin and plastic e-coin cards.
https://www.e-coin.io/promo

This promo is sounds great. Complete 10 tasks and get a free virtual e-coin card? Some of the task are just re-tweets and visit blogs, fairly easy to complete. Thanks.
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Board Legal
Re: legality of running a mixer
by
medUSA
on 22/12/2015, 21:37:17 UTC
I don't think an anonymous mixer can ever be legal in the US. Think about all the KYC regulations involving crypto exchanges and no profit tax paid on the profits.
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Board Bitcoin Discussion
Re: This is scary.. Potentially, could this stop BTC adoption in the long run?
by
medUSA
on 22/12/2015, 21:14:34 UTC
I read the article, the "Sesame Credit Score" is tied to social media accounts, not people. If the chinese use different social media accounts to purchase goods and to express political views, there are no ties. Problem solved.

Bitcoin adoption is not driven by china. I believe they don't actually use bitcoin. Their trading volume is exaggerated and some buy bitcoin to transfer out of china. The "Sesame Credit Score" is not going to have any effect on global adoption.
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Board Bitcoin Technical Support
Re: 0 confirmations after 10 hours, 0.0001 tx fee, what's wrong?
by
medUSA
on 22/12/2015, 20:40:57 UTC
A service in a pool (where for sure some blocks will be mined) were you can pay a fee and tell them your txId and make them include automatically in next block. If they implement it would be an extra BTC earnings for the pool operators.

There are talks about changing the bitcoin protocol to allow adding fees to sent txs, or child-pay-for-parent type systems. We are not there yet, so for now, we need to place enough fees into txs before we send them. It's not difficult to get used to Smiley
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Board Speculation
Re: What happens after every single Bitcoin is mined
by
medUSA
on 22/12/2015, 12:14:51 UTC
What happens after every single Bitcoin is mined
Will the price become more steady or will it continue to fluctuate as it does now?

We expect the last block reward to be in 2140. Over 100 years from now. It could be argued that we would see the effects of zero block reward well before the actual day, like when block reward could not cover the costs of mining. I would imagine Bitcoin would be abandoned by then, moving on to a more complex revolutionary system.

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Board Speculation
Re: The Christmas 2015 Bubble
by
medUSA
on 22/12/2015, 12:07:38 UTC
OP is saying the recent rise in prices has to be a bubble. I disagree. There may be one coming up in May/June, which can be named "Halving Bubble 2016". But at this point, we are still in a recovery phase from the bottom, there is no bubble yet.
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Board Press
Re: [2015-12-22] What Would Happen if Bitcoin is Accepted Globally?
by
medUSA
on 22/12/2015, 12:03:00 UTC
Who wrote this? This is an article? It can be summarised into one sentence: "imagine the numbers we would see if every country followed in China’s footsteps". That's it. Original writer: http://www.newsbtc.com/2015/12/20/bitcoin-is-accepted-globally-what-would-happen/

Bitcoin is already accepted globally, demand is not going to suddenly explode. It will take at least 2 more years for bitcoin adoption to reach the level we expect. Price may or may not rise with adoption.

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Board Bitcoin Discussion
Re: Cheapest price you bought your Bitcoin(s)
by
medUSA
on 22/12/2015, 11:45:21 UTC
Cheapest I bought was around $150. Totally forgot when that was, and the highest I bought was around $600. Not worried about the exchange rate, honestly. I think of bitcoin as another currency, will get to buy common things with it sooner or later.
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Board Trading Discussion
Re: Why do withdrawals take so long from exchanges?
by
medUSA
on 22/12/2015, 11:40:13 UTC
My withdraw from bittrex has been very good. Confirmation email took less than 1 minute and actual transaction was sent within 10 minutes. I withdrew more than 0.1btc even. May be hot wallet was empty and they need to refund the wallet which could take more time than usual.
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Board Bitcoin Technical Support
Re: 0 confirmations after 10 hours, 0.0001 tx fee, what's wrong?
by
medUSA
on 22/12/2015, 11:35:31 UTC
Your tx has 16 inputs which made the tx nearly 3k in size, you should have used 0.0003 btc fee.

What is sad is that the tx was sent using blockchain.info online wallet...So their fee calculation system does not work correctly I guess

Blockchain.info wallet always warn you about fees, fee calculation system does work. You must have ignored their warning or sent custom tx. You have to wait for it to confirm, but network is busy, more than 7k tx in mempool. It's going to take a while.
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Board Meta
Re: Do you think Referral Link should be allowed in Micro Earning Section
by
medUSA
on 18/12/2015, 11:54:18 UTC
Once allowed, referral links will take over the Micro Earnings Section. I can imagine newbies would spam the section with pages of new click bait topics. Members can use their signature area for referral links if they really want to promote a site.
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Board Economics
Re: Is it worth it to trade bitcoin over the holidays -- Christmas and New Year?
by
medUSA
on 18/12/2015, 11:46:10 UTC
OP has a point, there were large fluctuations after Christmas in 2013 and 2014. If this year follows the same pattern, profits could be made from high frequency trading. However, I believe bitcoin is different in 2015, the run up to Christmas this year is so different from past years, it would be difficult to guestimate a high and a low. Could get burnt if prices keep going up.

IMO, I would rather spend time with my family and leave bitcoin trading out of it  Grin
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Board Economics
Re: George Soros' Theory of Reflexivity and Bitcoin
by
medUSA
on 18/12/2015, 11:35:10 UTC
Yes. In a simple form. A rising XBT:USD price attracts more users. New users bid up the price, attracting even more new users. This has happened several times since 2010, resulting in large new waves of users each time.

That's is just a simple speculative demand for bitcoin. Applicable to most investments.

Bitcoin's integration with credit markets should allow for a new form of reflexivity. A smaller number of users can now use leverage to control a disproportionately large amount of bitcoin. Borrowing money to buy bitcoin will increase the value of bitcoin, which will allow bitcoin holders to borrow even more bitcoin. This reflexive phenomenon has been largely absent from  previous bitcoin bubbles (although Bitfinex allowed a small amount of lending in November 2013 and a few people borrowed against their cars and houses).

Bitcoin market capital is very small relative to wall street players. They probably don't need to borrow to speculate, and there are many other vehicles to do so. They can speculate on the success of bitcoin with their share holdings in bitcoin startups. They can speculate by shorting corporations which bitcoin can "kill".

It should be very interesting to see how this enhanced reflexivity from credit markets on exchanges will influence the next bull market.

Yes, what I would like to see is derivatives to allow investors to cover bitcoin on the downtrend. It may sound pessimistic, I believe it's a beneficial investment tool to reduce the volatility of Bitcoin.
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Board Economics
Re: Fed raised rates. How does this lead to higher rates on consumer/corporate loans
by
medUSA
on 18/12/2015, 11:09:27 UTC
If they pay banks more for reserves held at the Fed then surely the banks can then lower the rates they charge their customers?

Not really, banks can deposit reserves at the Fed and earn 0.5% interest, or they can loan to consumers and corporations. In order to make the loans worthwhile (risk of default), banks would charge a higher rate than the Fed's rate (risk free). This is a simplistic explanation, bank cashflow is a factor too, but I hope you get the idea.
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Board Project Development
Re: The Anatomy of a Bitcoin Desktop Application
by
medUSA
on 18/12/2015, 11:01:08 UTC
I read your "review". I still don't understand what it is. Your target readers may be developers (in the project development section), so review is short and simple. For non-dev readers like me, it's screams "not something you would want to know". Nice if you could insert a simple description of what it is at the top.
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Board Bitcoin Discussion
Re: How can we spread Bitcoin effectively.
by
medUSA
on 18/12/2015, 10:56:08 UTC
Giving Bitcoin away for free is fine, but give to people who will actually use the Bitcoin, not just dump it for fiat or forget about it. The best way is to demonstrate how Bitcoin can be used in everyday life and how easy it is to use it if one follows several simple rules. I have demonstrated to a few friends how to send and receive coins and it could be used to purchase gift cards, or even purchase electronic goods at a discount. These are things that draws people into Bitcoin, not just "free money".
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Board Beginners & Help
Re: Sent BTC without paying a fee
by
medUSA
on 18/12/2015, 09:19:11 UTC
No I sent 0.1 BTC without a fee on the 10th December. I do not know why the date has changed on BLOCKCHAIN.info. it still says the 10th on my CORE client. See image.

When transactions aren't confirmed, you client will rebroadcast the transaction again after it was dropped from the unconfirmed pool. In this case, your core client rebroadcasted it yesterday.

The date keeps resetting on the blockchain. Meaning this transaction is NEVER being confirmed. The chain has stolen my bitcoins!!! It's been 8 days with no confirmations.

The network is fairly busy right now with 7k unconfirmed transactions. My guess is that it will confirm in a week when it has higher priority, could be sooner if you are lucky.

I know I should now send a fee with a transaction but this is still ridiculous. You should get a warning in the bitcoin client that says miners are tight asses who refuse free transations instead of allowing bitcoin to steal our hard earned cash

Your coins are still in your 1DBS9 address, it is reported as "spent" because it is used in a transaction. If that transaction never confirms, the 0.1 btc can be released back to "unpsent" status (with a bit of work in core client).