Earlier quoted context omitted.
You need to be connected to send them but not receive them.
You certainly need to be connected to confirm that you have received them!
No you don't, blockchain.info would tell you.
Bitcoin Exchanges Under ‘Massive and Concerted Attack’
211–218 of 218 posts
Re: Bitcoin Exchanges Under ‘Massive and Concerted Attack’
#212Day one: Slander the biggest exchange and hang your neck out calming the entrenched. "They are amateurs. This is that exchange's problem. $1000 is but days away." Day two: Uhh... "Stay calm. This is just the expression of that non-issue looking like an issue. We know what we're doing." Bitcoin has, generally, intrinsic crash protection right now. The price can't plummet if you can't find trading partners. Nobody real…
Then put your money where your mouth is. There are bitcoin derivative markets that let you short it. Hell, PM me and I'll personally bet against you on a 6 mo time horizon.
If I had a position, I couldn't be considered objective.
Not to mention... the primary exchanges seem to produce that sort of clunky, bug-riddled system that undermines my confidence. A derivatives exchange? So, what the come-latelies are working on? They ain't even no Satoshi.
Re: Bitcoin Exchanges Under ‘Massive and Concerted Attack’
#213One of the Best Services... Fiver also accepts bitcons... For more read here: http://blog.fiverr.com/fiverr-now-accepting-bitcoins/
Re: Bitcoin Exchanges Under ‘Massive and Concerted Attack’
#214Earlier quoted context omitted.
Unfortunately in that respect Bitcoin is a bit of a one-trick pony. It relies on the honesty of a plurality of the network hash-strength. Systems which use the bitcoin mechanic need a lot of adoption before they become trustworthy.
In theory, applications can be built on top of the existing BitCoin blockchain, which is now well-guarded by many vested interests; some projects like MasterCoin [1] and Colored Coins [2] are attempting to do just this. But ultimately, you are correct: bootstrapping a new blockchain-based service requires assembling a community with enough hashing power to fend off 51% attackers. Time will tell how the experiment wil…
> In theory, applications can be built on top of the existing BitCoin blockchain, which is now well-guarded by many vested interests
"Presumed to be well-guarded by many vested interests". Of course, if you don't know who controls how much of the network, you don't know that its guarded by anything, or what the vested interests with influence over the security of the blockchain are actually interested in.
Re: Bitcoin Exchanges Under ‘Massive and Concerted Attack’
#215Earlier quoted context omitted.
Not only that, but the bitcoins themselves need solid liquidity before becoming a feasible currency. That's impossible with the impending cap. Right now, bitcoins are treated like digital gold. People hoard them and treat them like investment assets. And for the same reason the world's major currencies unlinked from gold, bitcoins also exhibits recessionary behavior. (bad news for a currency)
Another narrative goes as follows: The world's major governments unlinked their currencies from gold because it proved inconvenient for their regressive redistribution activities - cronyism, military-industrial complex, propping up the banking system, etc (not saying it's a conspiracy, just a natural consequence of authoritarianism). Note that the US unlinked in 1970 and the last year that the GINI coefficient improv…
> FDR temporarily unlinked in 1933 and we had the great depression
I always like pre hoc ergo propter hoc arguments.
Re: Bitcoin Exchanges Under ‘Massive and Concerted Attack’
#216Earlier quoted context omitted.
Not only that, but the bitcoins themselves need solid liquidity before becoming a feasible currency. That's impossible with the impending cap. Right now, bitcoins are treated like digital gold. People hoard them and treat them like investment assets. And for the same reason the world's major currencies unlinked from gold, bitcoins also exhibits recessionary behavior. (bad news for a currency)
>> "Not only that, but the bitcoins themselves need solid liquidity before becoming a feasible currency. That's impossible with the impending cap." How does that make you feel about dogecoin's decision to allow 5% inflation per year? It's currently the third largest crypto currency (behind Bitcoin and Litecoin) and I think most highly traded coin. Does the inflation make it more viable in the longterm as a currency p…
In the not too distant future, I think we are going to have a cryptocurrency that is widely used internationally.
Bitcoin is not headed in that direction, but that doesn't mean someone else can't solve the liquidity problem. Forced inflation may not be it though.
Re: Bitcoin Exchanges Under ‘Massive and Concerted Attack’
#217Earlier quoted context omitted.
Not only that, but the bitcoins themselves need solid liquidity before becoming a feasible currency. That's impossible with the impending cap. Right now, bitcoins are treated like digital gold. People hoard them and treat them like investment assets. And for the same reason the world's major currencies unlinked from gold, bitcoins also exhibits recessionary behavior. (bad news for a currency)
I'm unconvinced that deflation is a problem. The buyer's incentive to hoard is mathematically equal to the seller's incentive to acquire; as with all pricing, buyer and seller would eventually meet in the middle. The greatest significant bit for spending is stability/volatility. If BTC accumulated value at a steady 3% per year, many would still spend it (especially if vendors offered a 5% pay-with-BTC discount). The…
I agree - I think that cryptocurrency will be an international standard in the future, just not in the way it is implemented with Bitcoins.
Re: Bitcoin Exchanges Under ‘Massive and Concerted Attack’
#218Earlier quoted context omitted.
> maybe we need to make it easier to move money from wallet to wallet, from wallet to "hard" currencies and back Thank you Captian Obvious!
Well if it's that obvious it probably means that people who could easily simplify the process are too busy playing casino instead? :)
Nobody said it was easy (other than you just now).