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Showing 20 of 333 results by vpitcher07
Bitcoin transactions are forming a higher transaction rate on trading platforms and spikes indicate the price at $500 within 7 days.
This estimated value also considers the flow of positive Bitcoin talk, speculation and rapid new entries into the market.
Information fluctuations have spiked to a point of sharp crash or boom upword with the chance of no rapid activity being 2.1% based on past memberships to Bitcoin related material.
Sudden increased interest and attention always equal either a rapid negative or positive effect, depending on what may be considered negative/positive (in this case Bitcoin price going up or down).
False perceived success could push Bitcoin to $2000+ -- a price that could boom even further with a huge bust based on past Bitcoin chart patterns.
Gifting with Bitcoin has become something of a norm and interest in Bitcoin naturally grows around the winter times. (why the hell did you give me Bitcoin and what is Bitcoin and how do I use it what the fuck it has no government?)
Less activity in the outside world currently has a positive effect on Bitcoin since the Internet holds most of the valuable markets. (virtual markets and technology)
As the Internet grows in value, Bitcoin will, but as governments control more Internet, error on line 2. Buy. Buy. Buy.
I see you're new here. This estimated value also considers the flow of positive Bitcoin talk, speculation and rapid new entries into the market.
Information fluctuations have spiked to a point of sharp crash or boom upword with the chance of no rapid activity being 2.1% based on past memberships to Bitcoin related material.
Sudden increased interest and attention always equal either a rapid negative or positive effect, depending on what may be considered negative/positive (in this case Bitcoin price going up or down).
False perceived success could push Bitcoin to $2000+ -- a price that could boom even further with a huge bust based on past Bitcoin chart patterns.
Gifting with Bitcoin has become something of a norm and interest in Bitcoin naturally grows around the winter times. (why the hell did you give me Bitcoin and what is Bitcoin and how do I use it what the fuck it has no government?)
Less activity in the outside world currently has a positive effect on Bitcoin since the Internet holds most of the valuable markets. (virtual markets and technology)
As the Internet grows in value, Bitcoin will, but as governments control more Internet, error on line 2. Buy. Buy. Buy.
Everything you mention above, in the first two paragraphs, describes accurately the environment right now. The part you get wrong is; these factors never have had any bearing on the price. Up down or sideways.
As much as we'd all love a giant spike I'm afraid those days are over. Possibly the halving next year will cause rapid incline, but realistically what needs to happen is wider adoption and regular real world usage.
I'm expecting slow but steady growth. Btc will be strongest if it develops into a sustainable self contained ecosystem. It's a long way from that any time soon.
These are my thoughts exactly. You can speculate all day and make 'educated gambles' trading it but the truth is bitcoin is nothing without an strong ecosystem. I'm bullish very long term as I see tons of applications for it especially in the financial world. Right now, bitcoin doesn't help the average person enough for them to use it.
Re: The Gang of Five: The Dirty Centralization Secret of Bitcoin
Why misguide ? If Gavin makes a change and nodes do not update accordingly, it'll simply get rejected. That is called concensus.
This. OP your argument doesn't make sense. We all have control of whether or not we want to implement the change. The core 5 have almost zero power to do something that would hurt the community. If they update the code to allow them to have a million bitcoins each, no one would adopt the new software.
Here's an idea. Take 1% of each block reward and send it to an address controlled by the Bitcoin Foundation. This would provide revenue for development, branding, lobbying, etc. Alternatively, you can send them a % of the transaction fees. Call it a network fee.. whatever.
I'm not saying this is a good idea, but we need change. They say if it's broken don't fix it, but bitcoin is broken.
I'm not saying this is a good idea, but we need change. They say if it's broken don't fix it, but bitcoin is broken.
Miners and pools will not be keen on the 1% block reward tax to TBF, and this fork will likely not be accepted. I agree we do need change. The larger blocks is a good solution IMO. It raises the limit, will not impose any limitations to the current mining operations, while scaling the potential transactions rate.
The unconfirmed transaction pool is getting bigger and confirmations much slower than about one year ago. It is not "broken" now, but will be soon if we don't do anything.
I completely agree. There will NEVER be a consensus to send a tax to ANYONE especially TBF. If they hard fork to implement a "tax" bitcoin is done.
That's what 20 MB blocks require. That means, you receive the blockchain, that's 84 gigabytes per month. You send the blockchain to one peer, that's another 84 gigabytes per month.
There is only one time that one node has to upload or download all of the blockchain, and that is when a new full node comes online. It downloads the blockchain from one other node, and that is its only full blockchain download. If you don't want to be the node that has to upload the full blockchain, you can change that in your config file. The full blockchain download is definitely under the monthly caps. Those 84 gigabytes happens only once in the nodes lifetime, and the blockchain won't be 84 gigs even when 20 MB blocks are accepted. The 20 MB blocks just mean that the maximum block size accepted by the network is 20 MB, not that every block is 20 MB. Get your facts straight.I was about to ask the same thing but you answered my question. I don't understand why everyone is freaking out over 20MB blocks as if it's going to happen right when this is implemented. Look at the last blocks mined on blockchain.info. None of them are even 1MB yet (most of them not even close). So unless I'm missing something, I really don't understand the bandwidth/storage argument against this.
Wow got my hopes up when I saw this 
I guess I'll at least make history and post in a topic by the legendary Satoshi Nakamoto.
I guess I'll at least make history and post in a topic by the legendary Satoshi Nakamoto.
That's a good idea
Re: History of ASICs introduction into Bitcoin Market - Question
1. Possibly. Many people saw Litecoin a better coin than bitcoin because it was "ASIC proof". However now that that has changed, I don't really see the benefit of LTC besides a faster block time. (I think a lot of people would agree)
2. It's hard to say if ASIC's effected the price at all. So much happened so quickly it would tough to prove if something had an affect on price more than the other.
Here's my opinion on mining. When people call bitcoin a scam I usually say they have no idea what they're talking about. However, mining on the other hand is almost always scam. If you're not looking to drop a significant amount of money on hardware then I can almost promise you, you won't make on ROI unless we see a significant price increase. If you want to mine just for the sake of doing it (for fun) then go for it! I was doing it for a while myself. But if you're looking to make money on it then really put your research into hardware and difficulty. Chances are if you're not dropping at least $10,000 on hardware you're not going to make money. It's a risky business. You have to bank on a price increase if you're going to be doing small time mining. But like I said, this is just my opinion and I could be very wrong. It's really all about chance and luck.
2. It's hard to say if ASIC's effected the price at all. So much happened so quickly it would tough to prove if something had an affect on price more than the other.
Here's my opinion on mining. When people call bitcoin a scam I usually say they have no idea what they're talking about. However, mining on the other hand is almost always scam. If you're not looking to drop a significant amount of money on hardware then I can almost promise you, you won't make on ROI unless we see a significant price increase. If you want to mine just for the sake of doing it (for fun) then go for it! I was doing it for a while myself. But if you're looking to make money on it then really put your research into hardware and difficulty. Chances are if you're not dropping at least $10,000 on hardware you're not going to make money. It's a risky business. You have to bank on a price increase if you're going to be doing small time mining. But like I said, this is just my opinion and I could be very wrong. It's really all about chance and luck.
I certainly hope you're right! However I feel like the way you're jumping to this conclusion of 500,000 a btc is a bit too simplistic. There are many other factors involved in price besides worldwide adoption. Regulation, mining, human nature (which is unpredictable) and possible problems involved with bitcoin that have yet to be discovered. It's not totally unreasonable to see 500,000 a coin at some point but I don't see it anytime in the near future. Maybe 30 years from now but we also have to take into effect the rate of inflation. What will $1 buy us in 30 years? I love the bullish outlook on bitcoin but I think you're just a bit too bullish. Just my 2 bits though. I hope I'm very very wrong 
Re: No matter how much we love BTC, confirmations take way too long!
What is the average time for 1 confirmation? 15-30 minutes ? That isn't exactly terrible considering a lot of banks have a 3 business day policy...
Yes. Actually, 1st confirmation usually is around 10 mins based on my experience.
An average of 10 minutes is by design. Network difficulty adjusts to keep it on a 10 minute basis. If hashrate increases, difficulty increases to keep it at 10 minutes. (Roughly)
o'reilly has the number one news show, with average 409k viewers in 25-54 demographic. so the attack on his viewers is an attack on the majority...do you really think that you are better than most people? hint: you aren't.
he is always balanced, great show
he is always balanced, great show
This is the funniest thing I've read all day. Thank you... ( I sincerely hope you're joking).
Re: It Takes 14 Million Android Phones to Earn One Bitcoin
Personally i mine by hand.
I send my shares via registered mail to the bitcoin foundation.
They said it would take 14 million years to mine a bitcoin that way.
Brb i'll write an article about how fucking retarded i am.
I send my shares via registered mail to the bitcoin foundation.
They said it would take 14 million years to mine a bitcoin that way.
Brb i'll write an article about how fucking retarded i am.
THis cracked me up. Imagine doing a hash by hand and by some crazy miracle it's the block...Talk about luck
Re: GHASH.IO + DISCUS FISH >>>51% Possible to death bitcoin?
Doing a 51% attack is like shooting yourself in the face. You get absolutely nothing out of it. If you control enough hashing power to perform that, why destroy the very thing that's making you money?
I know this is a bit off topic but extract is not the right word to use. These bitcoins aren't hidden in lines of code that need to be "extracted" as you make it seem. They are simply created; basically out of nothing. When a miner finds a block, that miner is rewarded 25 bitcoins that are created - and proven to be valid.
Assuming miners are rational (which they're not), then there will always be "just enough" miners to keep the difficulty at a profitable level - even when there is no block reward.
Bitcoin is supposed to be trust-less. In essence, we are currently putting a LOT of trust in ghash for them to do the right thing. They have so far, but that's not the point - we shouldn't even be having this conversation.
maybe ghash is buying while there is the 51% issue and prices are low then scale back hash rate after
its probable
its probable
"Insider trading" in bitcoin is a bit of a oxymoron...