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I think our main problem is the huge electricity expense induced by mining and its noxious effect on the climate. This is, to my mind, the only serious argument against Bitcoin.
Alleviating the electricity expense should be one of our priorities. If we do not do it for the sake of the Earth (which we really should) we should at least do it selfishly because governments will not tolerate this forever and they will be right. The more the exchange rate increases, the worse it gets, of course.
Some solutions exist though: first there is proof-of-stake, of course. This technology may be too young to be deemed reliable enough but we should at least start considering it.
If we do not like proof-of-stake I think we could drammatically decrease the electricity expense by stopping monetary creation now. Nowdays Bitcoin is famous enough to remain secure even if miners earned transaction fees only. And if as a whole there are 16.5 M coins instead of 21 M, this does not make much of a difference. That is even good for holders. To make miners agree with that solution, they must be compensated for their lost income. More precisely, active miners must be compensated because they have already bought ASICs. Futures miners do not need to be compensated. Since mining is a competitive industry, future miners will make no profit on average, whatever the reward scheme. To compensate active miners we could decide that the next 2016 blocks yield, say, 100 new coins and then 0 forever. Everybody would win and the Earth above all!
There are probably many other solutions and I wish the community cared a little more about this fundamental issue.
Alleviating the electricity expense should be one of our priorities. If we do not do it for the sake of the Earth (which we really should) we should at least do it selfishly because governments will not tolerate this forever and they will be right. The more the exchange rate increases, the worse it gets, of course.
Some solutions exist though: first there is proof-of-stake, of course. This technology may be too young to be deemed reliable enough but we should at least start considering it.
If we do not like proof-of-stake I think we could drammatically decrease the electricity expense by stopping monetary creation now. Nowdays Bitcoin is famous enough to remain secure even if miners earned transaction fees only. And if as a whole there are 16.5 M coins instead of 21 M, this does not make much of a difference. That is even good for holders. To make miners agree with that solution, they must be compensated for their lost income. More precisely, active miners must be compensated because they have already bought ASICs. Futures miners do not need to be compensated. Since mining is a competitive industry, future miners will make no profit on average, whatever the reward scheme. To compensate active miners we could decide that the next 2016 blocks yield, say, 100 new coins and then 0 forever. Everybody would win and the Earth above all!
There are probably many other solutions and I wish the community cared a little more about this fundamental issue.
it's something to ponder for sure. Although the argument that bitcoin cosumes more energy than traditional banks won't stand as it's not true at all, we still need to do something about miners
Re: Samsung: Smartphones are the Most Secure Device When Using Cryptocurrency
According to Samsung, the $290 billion behemoth which dominates every major industry in South Korea, smartphones are the safest device to use when transacting using cryptocurrency
Smartphones Over Laptops
Smartphone wallets such as Blockchain and Jaxx are the go-to applications the majority of cryptocurrency users utilize to send and receive payments with digital assets.
Joel Snyder, a senior IT consultant, a contributor to Samsung Insights, explained in a recent paper that smartphones are significantly more secure than laptops and other devices, because of the presence of the Trusted Execution Environment(TEE)
Most smartphones have a native environment called the TEE, which operates as a separate execution environment with its own memory and storage, isolated from the device. Hence, not even the operating system (OS) like Android can reach into the TEE and potentially initiate alterations in its memory.
In an event of a hacking attack or a security breach, attackers cannot possibly break into the TEE and attempt to steal data such as the private keys of cryptocurrency wallets because the TEE exists completely independent of the device.
On laptops or computers that rely on conventional persistent storage units such as a hard disk or an SSD, a hacker can easily break into the storage and steal valuable financial information, including data pertaining to cryptocurrency wallets, that could lead to the loss of funds and holdings stored in digital assets.
Snyder explained:
Smartphones Over Laptops
Smartphone wallets such as Blockchain and Jaxx are the go-to applications the majority of cryptocurrency users utilize to send and receive payments with digital assets.
Joel Snyder, a senior IT consultant, a contributor to Samsung Insights, explained in a recent paper that smartphones are significantly more secure than laptops and other devices, because of the presence of the Trusted Execution Environment(TEE)
Most smartphones have a native environment called the TEE, which operates as a separate execution environment with its own memory and storage, isolated from the device. Hence, not even the operating system (OS) like Android can reach into the TEE and potentially initiate alterations in its memory.
In an event of a hacking attack or a security breach, attackers cannot possibly break into the TEE and attempt to steal data such as the private keys of cryptocurrency wallets because the TEE exists completely independent of the device.
On laptops or computers that rely on conventional persistent storage units such as a hard disk or an SSD, a hacker can easily break into the storage and steal valuable financial information, including data pertaining to cryptocurrency wallets, that could lead to the loss of funds and holdings stored in digital assets.
Snyder explained:
This is why smartphones have an edge over laptops and desktops for cryptocurrency wallets: without the benefits of the hardware-based TEE, the keys are more vulnerable. There is a significant caveat: a naïve wallet developer might choose to simply store the keys on the normal internal storage of the phone, in which case theres little additional protection from using the smartphone platform. Or the wallet itself might be malware, in which case all bets are off. But with the right wallet leveraging the benefits of smartphone TEE, theres no place safer to store your money.
there is some sense in this claim given the amount of viruses in phones is definitely lower than in computers, but it doesn't mean you can't get virus in phone and it's safe in general
In a few months, it would be ten years since the first transaction was made on the bitcoin blockchain by Satoshi Nakamoto (whoever he, she or they are). A decade down the road, bitcoin has grown in many aspects, adoption, value, circulation. And with just a couple of bitcoin yet to be mined, we are entering a new phase. And we might only have a few of the early adopters left in the bitcoin space, some bought a couple of pizzas and some cashed out during the series of pumps we have had over the years, some also panic sold during dumps.
What motivates you to Hodl?
Hodling or more conventionally put, long-term investment has always been a part of financial and commercial investments. And people were quick to identify the potential of profits in cryptocurrency due to the high volatility. And it was accepted it as a digital asset.
Hodling in such a space which is prone to wide sudden fluctuations is easier said than done. The emotional strain. One of my biggest motivation to Hodl is recognizing that bitcoin is not a pump and dump scheme, this for me is the most important motivation to hold. And you would be less bothered by intermittent value drops and rises.
If you are into bitcoin for the product and not profit, then you would be less interested in the profits and more interested in its increased adoption and application. Then you can view it as national currencies, which have value based on what it can purchase, but bitcoin has more applications as it is built on the blockchain technology.
Some can stay away from active participation, and it is possible to combine trading and hodling.
- A trader can also be a hodler. You have to set out your priorities and set aside a portion of your capital. If you're trading the same currency, (eg bitcoin), it would help to have a seperate wallet where you store you frozen assets and those available for trade.
Of course you should have disciplined yourself and learnt how to control your emotions and whims, otherwise you can't Hodl successfully.
What do you hope for the future?
This currency still has a long way to go, and of course we all look forward to a day where bitcoin would be an accepted global currency, that can be used to make purchases both online and offline. I lean more to online, as the world is going digital.
Increased adoption would also be helpful to governments and the citizenry, especially in developing countries, like Nigeria. And we are sure to discover other applications of the blockchain technology, as the qualities of transparency and decentralizatiom would be invaluable in those states.
What's your biggest fear?
Centralization. Bitcoin was created to be an alternative to the conventional banking sector. And to give it's users freedom and control, complete control. I fear a day where we would Los that control to governments and banks.
And I don't think global regulation is imperative for mass adoption.
The system was well designed to function without any control or supervision. And it's users need not to trust any human factor but the technology, the bitcoin technology.
What motivates you to Hodl?
Hodling or more conventionally put, long-term investment has always been a part of financial and commercial investments. And people were quick to identify the potential of profits in cryptocurrency due to the high volatility. And it was accepted it as a digital asset.
Hodling in such a space which is prone to wide sudden fluctuations is easier said than done. The emotional strain. One of my biggest motivation to Hodl is recognizing that bitcoin is not a pump and dump scheme, this for me is the most important motivation to hold. And you would be less bothered by intermittent value drops and rises.
If you are into bitcoin for the product and not profit, then you would be less interested in the profits and more interested in its increased adoption and application. Then you can view it as national currencies, which have value based on what it can purchase, but bitcoin has more applications as it is built on the blockchain technology.
Some can stay away from active participation, and it is possible to combine trading and hodling.
- A trader can also be a hodler. You have to set out your priorities and set aside a portion of your capital. If you're trading the same currency, (eg bitcoin), it would help to have a seperate wallet where you store you frozen assets and those available for trade.
Of course you should have disciplined yourself and learnt how to control your emotions and whims, otherwise you can't Hodl successfully.
What do you hope for the future?
This currency still has a long way to go, and of course we all look forward to a day where bitcoin would be an accepted global currency, that can be used to make purchases both online and offline. I lean more to online, as the world is going digital.
Increased adoption would also be helpful to governments and the citizenry, especially in developing countries, like Nigeria. And we are sure to discover other applications of the blockchain technology, as the qualities of transparency and decentralizatiom would be invaluable in those states.
What's your biggest fear?
Centralization. Bitcoin was created to be an alternative to the conventional banking sector. And to give it's users freedom and control, complete control. I fear a day where we would Los that control to governments and banks.
And I don't think global regulation is imperative for mass adoption.
The system was well designed to function without any control or supervision. And it's users need not to trust any human factor but the technology, the bitcoin technology.
guys the whole hodl thing is a pure nonsense. We shouldn't motivate ourselves to hodl anything, we need to use bitcoin to transact, use it as money. When will you finally understand it?
Irrespective of problems encountered by crypto enthusiasts like fake icos, scammers and delay. I think ICO plays an important rule in execution of sound projects. So Without ICO, most coins find it difficult to raise funds to execute their project. Without ICO, coins or projects will find it difficult to advertise their project, without ICO, projects will find it difficult to reach the right audience, Etc.therefore I believe in ICO because it enable me to research, analyst and evaluate the potentials of that project. Do you also believe in ICO?
Icos allow companies usually at the very early stage to collect the funds necessary for the project development and the completion. There are good and bad projects, be careful when choosing to invest, do the research first.
Will Ripple be able to repeat the history again this year ? Last year we predicted the value of $5 for one Ripple but we got almost more than $3 ? Kindly share your feedback about the Ripple.
ripple can get there maybe, as it's partnering with banks which is showing the future shuold be really bright for ripple. We need more real world use cases for crypto, such as rippleCrypto is one of the avenues of getting rich yet it should be understood that it does not happen overnight. Getting rich in crypto requires a lot of dedication, hard work and patience. People do not see the essence of crypto investment because they want to get rich quickly, hence, hurriedly invest in projects that follow the pump and dump trend.
Remember, one key to success is patience.
Remember, one key to success is patience.
that's not all. Crypto is not here to make people rich, you are severely confused person if you think that. If someone got rich thanks to crypto, it's only the side effect of the whole idea
Market going into the profound feeling of anxiety such a large number of individuals are befuddled about what they do with the present market circumstance.
Since no one knows when the market will begin in up position. In any case, as indicated by my supposition, this time isn't of Selling simply pause and watch the market and appreciate this time with your family on the grounds that in a couple of months the market will start up the incline. So this time no compelling reason to offer.
Be that as it may, in the event that you need to put more cash in Crypto showcase this is a perfect time.
in the realm of cryptographic money advertise HOLD isn't too terrible its a decent advance for its fore. since the present digital money showcase is balancing out the cost of bitcoin with its other altcoin. since around then bitcoin plunged and altcoin additionally follow-up because of G20 issue yet numerous nations that claim bitcoin and his companions were affirmed in a few nations.
also, it's a decent move since all the of all shapes and sizes financial specialists are cheerful to hear that it's probable that numerous speculators are reinvesting their assets into the cryptographic money showcase so if it's called this time it's great to reinvest if there's more capital or hold if reinvested in cost up from now.
Since no one knows when the market will begin in up position. In any case, as indicated by my supposition, this time isn't of Selling simply pause and watch the market and appreciate this time with your family on the grounds that in a couple of months the market will start up the incline. So this time no compelling reason to offer.
Be that as it may, in the event that you need to put more cash in Crypto showcase this is a perfect time.
in the realm of cryptographic money advertise HOLD isn't too terrible its a decent advance for its fore. since the present digital money showcase is balancing out the cost of bitcoin with its other altcoin. since around then bitcoin plunged and altcoin additionally follow-up because of G20 issue yet numerous nations that claim bitcoin and his companions were affirmed in a few nations.
also, it's a decent move since all the of all shapes and sizes financial specialists are cheerful to hear that it's probable that numerous speculators are reinvesting their assets into the cryptographic money showcase so if it's called this time it's great to reinvest if there's more capital or hold if reinvested in cost up from now.
Crypto is about the actual use. As long as the use cases exist, the price will be attractive. But it's not easy just to be focusing on speculation and hoping the prices would grow, that makes no sense for the community
hy mate
I want to confirm if this is really the coming back of Ethereum, for the past several months it wasn't easy but now I can see that the market is gradually changing from the bearish market to the bullish market. presently Eth is $223.84.
due to my past experience once it get's to $700 i will sell to regain my lost which i have lost all this while, do you think i should do so or hold on since is coming back gradually.
what do you think?
I want to confirm if this is really the coming back of Ethereum, for the past several months it wasn't easy but now I can see that the market is gradually changing from the bearish market to the bullish market. presently Eth is $223.84.
due to my past experience once it get's to $700 i will sell to regain my lost which i have lost all this while, do you think i should do so or hold on since is coming back gradually.
what do you think?
don't ask what other people think and don't rely on what they say. it doesn't matter because they don't know. Same as you can't know whether this is the bottom and market is turning to bullish season. You just can't know
Which one is more profitable to invest into.
Can BCH ever over-take ethereum when BTC moon?
Can BCH ever over-take ethereum when BTC moon?
you are mixing apples with oranges. I see that you're probably interested only in prices, not the real value behind these two coins, therefore just do whatever you want, but you're not really helpful to the community
I started doing bounty last may and it's been 4 months now but still im not getting any good profit from the bounties that i have joined. I'm thinking that maybe it's because of the current market where ICO's are having a hard time reaching their hardcap but im still confident that someday it will be all worth it.
yes, it takes a lot of time for bounty managers to allocate the tokens. Also the majority of tokens don't get you good profit as their price drops straight after the token gets listed on exchanges
There are many popular sites are available like Bountyhive,Bountylord that gives the ICOs announcement their duration time etc.
I want to know that how you select an ICOs to either participate in it as invester or a bounty campaigner.
I want to know that how you select an ICOs to either participate in it as invester or a bounty campaigner.
man of course I'm selective. How could you not be? I'm wondering how is it possible but the questions on this forum just tend to increase the level of ill-educations to the extents I have never seen before
In the past few weeks, ETH has been falling, causing many people to be nervous. Some people sold their ETH at that time with the thought: "ETH is dead already."; "ETH will disappear." or "ETH will become a coin". And when ETH rose again they regretted "ETH has come back", "ETH will break in the next few months," "How stupid when I sell ETH."
I wonder if they really love ETH, love this crypto market? Or is it just trending? Do they have enough knowledge, psychology here?
What do you think about this?
I wonder if they really love ETH, love this crypto market? Or is it just trending? Do they have enough knowledge, psychology here?
What do you think about this?
there is no reason for ethereum to fail. There are many projects already using eth blockchain, it's nothing speculative. And still more and more companies intend to start using it, so eth is here to stay
So XRP(Ripple) has bypassed Ethereum to become no. 2 coin on coinmarketcap and it has seen about 70% growth in last 24 hours and about 300% gain in past week or so. Is it still the right time to get into it and buy some XRP. Some people might argue Ripple is centralized and Pump & Dump coin but a trader basically looks for profit not other so much about other factors.
again you're asking whether it's time to buy it when the price grew rapidly. Why you didn't buy it when the price was decreasing? People like you are the victims of pumps and dumps
After sleeping for so long, Ripple seems to be awake now and starts to run. Do you think it is now time for it to grow or is it just temporary? Many people are against it because they say that it is centralized but banks worldwide are pro Ripple. Does Ripple can go up to $100? What's your opinion about it?
it can work for banks and other institutions, it makes sense to actually use their platform instead of swift etc. Until there is a switch to fully decentralized systems, ripple might be a good bridge.
Ethereum is one of the best and most stable coins on the market. If you invest in Ethereum, you can make good money
ethereum is already a blockchain network that is heavily relied on by many new tokens and smart contract based projects. Forget your speculations on prices, focus on real value
No one can say anything about the future.Btc occupies a very important position in the cryptocurrency market. now there is no coin that can beat btc.
we don't need coins that would be btc. We only need cryptocurrencies that can supplement it the way it's most beneficial for their own blockchains. That's what makes most sense. Cooperation
I think there are some altcoins that will grow like Ltc, Eos, Neo, and Ripple. many people who hold the coin can make a profit because we can buy at a low price now then sell it when the price goes up later.
If you look at investments for a long time, then these coins will be an excellent option, I would add to the list an etherium and of course bitcoin.major currencies will be growing in value for sure. We already know how much were people willing to pay for them at their ATH, given that the industry is still evolving, there is no reason to wait for new ATH for too long
Sometimes it`s better to buy BTC, sometimes altcoins.
Very funny statement. Bitcoin is supposed to be used for transactions worldwide. If you need to to do that, buy bitcoin and use it. If you need to send alts through ethereum blockchain, buy eth for gas purposes...
Re: ⚛️ [ANN] Bitcoin Atom - Fork 1:1 of Bitcoin - Atomic Swap Powered ⚛️
Right now this coin is so cheap, if you buy any amount you cant make some huge mistake... And potential to be big in next pump is real!
Whats your price prediction once full DEX released?
it can go easily 100x up perhaps even more. The reason is that the coin is just so undervalued right now, they don't hype the project, they rather focus on development and do marketing once everything is ready
Nowadays too many scam project just to cheat money, how u guys determine is it a good project?
research. It's always a research you need to do on your own. Even you asking here this question makes no sense at all, you need to determine it on your own. See the team, wp, strategy, experience, viability etc