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Showing 20 of 73 results by whatisthename
Re: 🌟🌟🚀[ANN] [Alaricoin] [ALCO] [AIRDROP 1st round rules] [1st November] 🌟🚀
It is very good that the Alaricoin is a long-term project. Long-term projects is interesting for view to observe and from them the biggest profit.
Re: Tool: Calculate the future value of a single Bitcoin
Again - get real. 1% of the world economy is ~ 300,000,000,000.00USD.
That's 300 billion. The total amount of coins ever is going to be 84 million.
It means that in that rate a coin will be worth ~3571.42$ per coin.
If it goes so high inflation will destroy world's economy. It might go to 1000000$ per coin, then drop to 1000$ because there are no real money to cash you out!
Do you get it or shall I explain in more detail?
Let's get it a bit easier.
If a bitcoin is worth 100$ today, and there are for instance (just an example) 1,000,000 BTC traded every day through MtGox, it means that MtGox needs 100,000,000$ to exchange all these. However if it goes to 200$ for a single day it will need 200,000,000$. Do you really think they have that kind of leverage? Who is their liquidity provider? The Federal Reserve?
If it gets so expensive so fast it will burst. Yes it might increase in value, but it shall happen within reasonable timeframe of years in order for the exchangers to be able to adjust the volume and money supply they currently have. Otherwise a lot of people will end up burning up graphic cards and all kind of equipment for mining and thousands of BTCs worth nothing.
Another thing that no one thinks about and no one can control - greed.
Most of the bitcoin exchange is done by DIY traders, not miners. When it gets expensive, they sell. Period. They do not care about the whole picture.
If Gox bankrupts it all goes south.
That's 300 billion. The total amount of coins ever is going to be 84 million.
It means that in that rate a coin will be worth ~3571.42$ per coin.
If it goes so high inflation will destroy world's economy. It might go to 1000000$ per coin, then drop to 1000$ because there are no real money to cash you out!
Do you get it or shall I explain in more detail?
Let's get it a bit easier.
If a bitcoin is worth 100$ today, and there are for instance (just an example) 1,000,000 BTC traded every day through MtGox, it means that MtGox needs 100,000,000$ to exchange all these. However if it goes to 200$ for a single day it will need 200,000,000$. Do you really think they have that kind of leverage? Who is their liquidity provider? The Federal Reserve?
If it gets so expensive so fast it will burst. Yes it might increase in value, but it shall happen within reasonable timeframe of years in order for the exchangers to be able to adjust the volume and money supply they currently have. Otherwise a lot of people will end up burning up graphic cards and all kind of equipment for mining and thousands of BTCs worth nothing.
Another thing that no one thinks about and no one can control - greed.
Most of the bitcoin exchange is done by DIY traders, not miners. When it gets expensive, they sell. Period. They do not care about the whole picture.
If Gox bankrupts it all goes south.
What are you talking about?
Why would Mt. Gox need to have $200,000,000 on hand?
It's not up to them to have that liquidity. The people who want to buy the bitcoins are the ones providing the liquidity.
I'm not following your logic.
Re: 2013-04-17 Colbert Report - Adam Davidson on Bitcoin
Hi Guys,
(with kindness and respect I ask you please only reply with an answer if you know for sure)
With Blockchain.info I downloaded the firefox browser add-on for increased security. My question is this: should I leave auto-update on for the extension or turn if off? Is there a chance of a "hacked" version of the add-on to be uploaded to the servers, for people like me to download?
Sorry if this is a silly question...I'm just taking all precautions.
(with kindness and respect I ask you please only reply with an answer if you know for sure)
With Blockchain.info I downloaded the firefox browser add-on for increased security. My question is this: should I leave auto-update on for the extension or turn if off? Is there a chance of a "hacked" version of the add-on to be uploaded to the servers, for people like me to download?
Sorry if this is a silly question...I'm just taking all precautions.
Re: 2013-03-30 Market-Ticker (Karl Deninger) - Bitcon: Don't
He's also lost a lot of credibility lately when he changes his warning to "Tickercon 1". Maybe he sincerely believed everything was going to fall apart a few weeks ago...but when he does it a couple (or few) times then he just loses credibility.
Re: 2013-03-30 Market-Ticker (Karl Deninger) - Bitcon: Don't
I think he's a very smart guy.
I've exchanged emails with him a few times.
I don't think he has a grasp on Bitcoin though.
For example, say I have 1 Jellybean. I say to Bob: "Bob, this Jellybean is worth the price of your house. I would like to buy it."
Bob says "Okay, I think it sounds like a fair trade."
Then the house is mine. It's a fair, legal, trade.
It's the same thing with Bitcoin.
Karl is just thinking too hard. A good guy, but thinking too hard.
If I convert a Bitcoin to USD and made profit, then yes....I will need to report for tax purposes.
Simple as that.
I've exchanged emails with him a few times.
I don't think he has a grasp on Bitcoin though.
For example, say I have 1 Jellybean. I say to Bob: "Bob, this Jellybean is worth the price of your house. I would like to buy it."
Bob says "Okay, I think it sounds like a fair trade."
Then the house is mine. It's a fair, legal, trade.
It's the same thing with Bitcoin.
Karl is just thinking too hard. A good guy, but thinking too hard.
If I convert a Bitcoin to USD and made profit, then yes....I will need to report for tax purposes.
Simple as that.
Perhaps I'm misunderstanding the definition of "archive". Typically I don't think I would archive an address if I thought I would ever need to use it again.
What you said makes sense.
I was merely confused by Blockchain sending me another backup just when I "unarchived" something
Why not keep both backups on your USB stick, that way you'll ensure that you have all of the addresses from each time the wallet was backed up, and not risk old addresses not being in the new backup?
I guess my question is I could see myself, quite often, archiving and un-archiving addresses that ALREADY exist in my wallet...so would that backup file from a few days earlier (before I unarchived it) still work? It could be a pain to go back to the safety deposit box every single time.
THANK YOU in advance for helping.
Within Blockchain wallet I had a couple addresses archived. I then unarchived one and the website promptly emailed me a backup to my wallet should I need it someday.
My question is this: the backup that I had of my wallet from a few days earlier (which had that one address archived)....is it still any good? Can I still use that backup from a few days earlier to access my addresses (active and archived ones)
I just want to make sure I'm good in the event I put a USB stick of my backup in my safety deposit box. It seems like it would become annoying to replace the file on that USB stick everytime I "archived" and "unarchived" an address
I guess I'm just confused when I need to replace the backup file on my usb stick.
Within Blockchain wallet I had a couple addresses archived. I then unarchived one and the website promptly emailed me a backup to my wallet should I need it someday.
My question is this: the backup that I had of my wallet from a few days earlier (which had that one address archived)....is it still any good? Can I still use that backup from a few days earlier to access my addresses (active and archived ones)
I just want to make sure I'm good in the event I put a USB stick of my backup in my safety deposit box. It seems like it would become annoying to replace the file on that USB stick everytime I "archived" and "unarchived" an address
I guess I'm just confused when I need to replace the backup file on my usb stick.
Re: Whoa! Use BitcoinRunner to buy online from ANY store using Bitcoins!
You need to figure some things out: What languages, currencies and payment methods can you handle? Not all stores are in English, use USD and take CC payments.
That's what I taught when I saw it.
They claim you can buy at any site in the world. Really? So I can have something shipped from Iran here to me in France, for instance? Will they handle any currency conversion, get through all financial embargos etc?
The idea is cool, but what it claims to do seems impossible.
Not my site!
I'm a selfish American so I saw that the site could handle all my needs and figured it was good to go! :p
Re: Whoa! Use BitcoinRunner to buy online from ANY store using Bitcoins!
It is interesting, I may consider buying a video card to mine some litecoins.
Thanks for pointing this site out. Great rates!
Thanks for pointing this site out. Great rates!
I think it's a GREAT service until the majority of online stores themselves take Bitcoins!
I bought Bitcoins because:
A. I think their effectiveness and scarcity as a cryptocurrency will be value.
I hope for that value to rise and use it for myself, and maybe exchange to others someday if I feel the price is right.
A. I think their effectiveness and scarcity as a cryptocurrency will be value.
I hope for that value to rise and use it for myself, and maybe exchange to others someday if I feel the price is right.
Re: Whoa! Use BitcoinRunner to buy online from ANY store using Bitcoins!
Yes, thats cool, but for under $100.. if they only charge $1 fee.. how can they make any money ?!
It's actually an easter weekend sale, normally that would be a $2 fee
Wow I have to say this site blows me away!
So cool to fill this need until stores really start accepting bitcoins!
Whoa! Use BitcoinRunner to buy online from ANY store using Bitcoins!
Re: What prevents govt from forcing online retailer to give up your shippingaddress?
How do they calculate the taxes on an unrecognized currency?
I don't know. Honestly like I said when I wrote this thread it even confuses ME
But I was wondering if the "anonymous" factor for the buyer goes out the window once you give your shipping address.
Does that make sense?
Is there anyone here that knows or runs online businesses and can see if I'm actually making sense here? (as in a potential problem for buyers)
Learn how to cover your tracks. Hint: You can create as many Bitcoin addresses as you like.
Just because you order something using one address, doesn't me it's your only address. It doesn't even mean that addresses connected to that address are yours.
Sorry, I meant physical shipping address...like where your DVD player will be shipped to
Re: What prevents govt from forcing online retailer to give up your shippingaddress?
How do they calculate the taxes on an unrecognized currency?
I don't know. Honestly like I said when I wrote this thread it even confuses ME
But I was wondering if the "anonymous" factor for the buyer goes out the window once you give your shipping address.
Does that make sense?
Is there anyone here that knows or runs online businesses and can see if I'm actually making sense here? (as in a potential problem for buyers)
Perhaps I wasn't very good with my wording the first time. The game BitMafia has just launched, and on April 2nd, 2013, the player with the highest strength/total money will have 0.01 BTC transferred to their BitCoin Address.
I'm all for people having fun, creating new Bitcoin ventures, etc...but it's only .80centsUSD
No thanks
Have a good night though.
What prevents govt from forcing online retailer to give up your shippingaddress?
You know what I mean?
Say they want to collect taxes. Could they just force the retailer to give up your shipping address & amount of the purchase in an effort to collect taxes?
This topic might be confusing but what I'm trying to say is the anonymous factor goes out the window when you give the company an address to ship the item to.
Say they want to collect taxes. Could they just force the retailer to give up your shipping address & amount of the purchase in an effort to collect taxes?
This topic might be confusing but what I'm trying to say is the anonymous factor goes out the window when you give the company an address to ship the item to.