Help & FAQs    Search BCF    Members    Groups    Events Calendar
Resend my activation email : Register : Log in 
BCF: Bike Chat Forums


Bitcoins

 Reply to topic
Bike Chat Forums Index -> The Geek Zone Goto page Previous  1, 2, 3 ... 12, 13, 14 ... 56, 57, 58  Next
View previous topic : View next topic  
Author Message

Pjay
World Chat Champion



Joined: 18 Jan 2016
Karma :
PostPosted: 00:39 - 13 Dec 2017    Post subject: Reply with quote
Alipay and Wechat are leading the way in crypto payment systems in China.

Cash in China is on the decline, I imagine the revolution to start there.
____________________
struan80 - I'll go first - satisfied tick 1
 Back to top
View user's profile Send private message You must be logged in to rate posts

bladerunner
World Chat Champion



Joined: 09 Sep 2006
Karma :
PostPosted: 00:56 - 13 Dec 2017    Post subject: Reply with quote
I started mining XMR yesterday with a gtx1060.....its doing 3 times better than the i7 so I expect to be a millionare this time next month!! Laughing Laughing
____________________
Current bikes...cbr929, KDX200's, Rd125lc mk2, RGV250's
 Back to top
View user's profile Send private message Visit poster's website You must be logged in to rate posts

Lord Percy
World Chat Champion



Joined: 03 Aug 2012
Karma :
PostPosted: 00:58 - 13 Dec 2017    Post subject: Reply with quote
Pjay wrote:
Alipay and Wechat are leading the way in crypto payment systems in China.

Cash in China is on the decline, I imagine the revolution to start there.


Ahaha, I don't think so.

Had a quick search for the state of bitcoin in China and found this:Cyrptocurrencies banned in China two months ago Laughing

Official statement here. Reasonable translation here: Google translate

So what's that about it being immune to government regulation and interference? Very Happy
 Back to top
View user's profile Send private message You must be logged in to rate posts

Pjay
World Chat Champion



Joined: 18 Jan 2016
Karma :
PostPosted: 01:06 - 13 Dec 2017    Post subject: Reply with quote
There was never a ban in China, only a ban on trading platforms.

China are one of the biggest players in the world in mining.
____________________
struan80 - I'll go first - satisfied tick 1
 Back to top
View user's profile Send private message You must be logged in to rate posts

Lord Percy
World Chat Champion



Joined: 03 Aug 2012
Karma :
PostPosted: 01:14 - 13 Dec 2017    Post subject: Reply with quote
But mining is completely different from the cryptocurrency transaction utopia you're trying to champion, which has indeed just been banned in China.

Mining is essentially the part where you're guaranteed a win (the value of which is decided by the size of the pyramid propping the whole thing up).
 Back to top
View user's profile Send private message You must be logged in to rate posts

The Artist
Super Spammer



Joined: 06 Jan 2008
Karma :
PostPosted: 01:17 - 13 Dec 2017    Post subject: Reply with quote
Pjay wrote:
The Artist wrote:
LTC is BTC x4. Same problems exist with it, once tx reach 4x bitcoins, the problems will likely be identical.


LTC is still more suited than BTC. Also LTC have little problem implementing fixes and segwits.

I am pretty sure LTC wont be the end use crypto, but like I said, it is one of many that are better.


LTC had little problem implementing updates because no one used it at the time. Laughing

The code is the same as BTC, just with minor tweaks and the same problems will arise. Just because the community is smaller and easier to manage now doesn't mean if it grows, it will be better than BTC.

Governance of coins is still a big problem as we have seen.
 Back to top
View user's profile Send private message Send e-mail You must be logged in to rate posts

Pjay
World Chat Champion



Joined: 18 Jan 2016
Karma :
PostPosted: 01:22 - 13 Dec 2017    Post subject: Reply with quote
Lord Percy wrote:
But mining is completely different from the cryptocurrency transaction utopia you're trying to champion, which has indeed just been banned in China.


You are not understanding what is banned.
Exchanges and ICO's have been banned, not the cryptos or their use.
____________________
struan80 - I'll go first - satisfied tick 1
 Back to top
View user's profile Send private message You must be logged in to rate posts

The Artist
Super Spammer



Joined: 06 Jan 2008
Karma :
PostPosted: 01:22 - 13 Dec 2017    Post subject: Reply with quote
Pjay wrote:
The Artist wrote:
This just isn't true.

Do you think there will be FIAT currencies in 500 years?

My personal opinion is that there will be no use for them.


Without some sort of global revolution, government issued currency is necessary and a good thing.
 Back to top
View user's profile Send private message Send e-mail You must be logged in to rate posts

bladerunner
World Chat Champion



Joined: 09 Sep 2006
Karma :
PostPosted: 02:30 - 13 Dec 2017    Post subject: Reply with quote
Well boys....I just earned £0.72 mining whilst playing a couple of multiplayer rounds on COD2!!! Thats me fitting a solar power system to the house and running a rig or two for NOWT!! Wink
____________________
Current bikes...cbr929, KDX200's, Rd125lc mk2, RGV250's
 Back to top
View user's profile Send private message Visit poster's website You must be logged in to rate posts

M.C
Super Spammer



Joined: 29 Sep 2015
Karma :
PostPosted: 02:32 - 13 Dec 2017    Post subject: Reply with quote
The milky bars are on you.
 Back to top
View user's profile Send private message You must be logged in to rate posts

Rogerborg
nimbA



Joined: 26 Oct 2010
Karma :
PostPosted: 08:53 - 13 Dec 2017    Post subject: Reply with quote
Ste wrote:
The auction has had 26 bidders and is at £9,100 with 5 days 22 hours still to go.

How many bitcoins tho?
____________________
Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike
 Back to top
View user's profile Send private message You must be logged in to rate posts

owl
World Chat Champion



Joined: 21 Oct 2016
Karma :
PostPosted: 11:55 - 13 Dec 2017    Post subject: Reply with quote
Rogerborg wrote:
vice wrote:
Not if you no longer need a “real” bank account, believe is the point people are trying to make.

See the point earlier that bitcoin has already died stillborn as a currency since nobody is going to be spending it on goods and services. Dragons coiled around their cryptogold.


Don't think anyone here has argued that bitcoin is going to be the currency to do it going forward, just that's it's paving the way.

There's a couple of millions worth of daily transactions running through dark markets, people purchasing various goods and services as well as at least 10 physical stores within a mile of me right now that accept bc, it's no where near there yet but it is progressing.
____________________
Observation is the greatest source of wisdom.
 Back to top
View user's profile Send private message You must be logged in to rate posts

Lord Percy
World Chat Champion



Joined: 03 Aug 2012
Karma :
PostPosted: 12:46 - 13 Dec 2017    Post subject: Reply with quote
Pjay wrote:
Lord Percy wrote:
But mining is completely different from the cryptocurrency transaction utopia you're trying to champion, which has indeed just been banned in China.


You are not understanding what is banned.
Exchanges and ICO's have been banned, not the cryptos or their use.


What?

What have I missed? If I have load of bitcoins, what can I do with them in China?
 Back to top
View user's profile Send private message You must be logged in to rate posts

Pjay
World Chat Champion



Joined: 18 Jan 2016
Karma :
PostPosted: 13:03 - 13 Dec 2017    Post subject: Reply with quote
Lord Percy wrote:
What have I missed? If I have load of bitcoins, what can I do with them in China?

You can do exactly what I can do with them here in the UK.

Chinese people still trade crypto, they just do it on foreign exchanges, just as I do.


Quote:
People who already own coins can just go online and trade them on an exchange that is based overseas. There was even some trading on WeChat, China’s massively popular but heavily monitored messaging app.
After all, China did not ban Bitcoin itself, nor did it explicitly prohibit peer-to-peer trading. And importantly, China hasn’t banned the mining of bitcoins, in which people have their computers race to solve difficult mathematical problems in exchange for coin rewards. As of September, more than two-thirds of bitcoins were made in China. Much of the computer hardware used for mining is manufactured there.

____________________
struan80 - I'll go first - satisfied tick 1
 Back to top
View user's profile Send private message You must be logged in to rate posts

Lord Percy
World Chat Champion



Joined: 03 Aug 2012
Karma :
PostPosted: 14:25 - 13 Dec 2017    Post subject: Reply with quote
Pjay wrote:
Lord Percy wrote:
What have I missed? If I have load of bitcoins, what can I do with them in China?

You can do exactly what I can do with them here in the UK.

Chinese people still trade crypto, they just do it on foreign exchanges, just as I do.


Quote:
People who already own coins can just go online and trade them on an exchange that is based overseas. There was even some trading on WeChat, China’s massively popular but heavily monitored messaging app.
After all, China did not ban Bitcoin itself, nor did it explicitly prohibit peer-to-peer trading. And importantly, China hasn’t banned the mining of bitcoins, in which people have their computers race to solve difficult mathematical problems in exchange for coin rewards. As of September, more than two-thirds of bitcoins were made in China. Much of the computer hardware used for mining is manufactured there.


So basically the government have seen it for the speculation-propped pyramid scheme that is is and sidelined it as nothing more than a purchasable pseudo-commodity with a manufactured sense of value that people are free to throw money at as long as they're the only ones who lose out if the bubble bursts?

Doesn't really seem like China is leading the way at all. Sounds like the most you can do 'in China' is access the correct websites to do whatever it is the bitcoiners do, on the internet, with the money that comes from other people at the base of the pyramid.

I really do want to understand what's so great about bitcoin and somehow be proven wrong, but nothing seems to make any sense. There's no social demand for it for a start, and the 'convenience' aspect is already dwarfed by the systems currently in place. All I see is a load of people trying to take advantage of the blatant pyramid aspect. As more money is shovelled into this non-productive and valueless commodity, there's a larger pot to withdraw from. Only question is how long one dares to wait before everyone makes a rush for the $$$ when the crash alarms go off. It's such a stunningly obvious pyramid.

Could you give me a super-dumbed-down list of all the things that make cryptocurrency the obvious choice for a better future?
 Back to top
View user's profile Send private message You must be logged in to rate posts

Pjay
World Chat Champion



Joined: 18 Jan 2016
Karma :
PostPosted: 14:39 - 13 Dec 2017    Post subject: Reply with quote
https://www.coindesk.com/bitcoin-explained-five-year-old/
____________________
struan80 - I'll go first - satisfied tick 1
 Back to top
View user's profile Send private message You must be logged in to rate posts

Ste
Not Work Safe



Joined: 01 Sep 2002
Karma :
PostPosted: 18:59 - 13 Dec 2017    Post subject: Reply with quote
Rogerborg wrote:
Ste wrote:
The auction has had 26 bidders and is at £9,100 with 5 days 22 hours still to go.

How many bitcoins tho?

Time left: 4d 01h

£4,800.00
31 bids

Eh?
 Back to top
View user's profile Send private message You must be logged in to rate posts

Lord Percy
World Chat Champion



Joined: 03 Aug 2012
Karma :
PostPosted: 22:06 - 13 Dec 2017    Post subject: Reply with quote
Pjay wrote:
https://www.coindesk.com/bitcoin-explained-five-year-old/


This doesn't even remotely get around what I explained before. Here are those problems again, in condensed form:

1. Cryptocurrency, having no central management agency, has no way of being used for large scale economic control at times of great inflation or depression.

2. People who don't have much cryptocurrency will resort to lenders, aka cryptocurrency banks, and other lenders or loan sharks will pop up too, all offering a non-productive service in return for cyrptocurrency interest payments... so there will still be a middle man - a taker of money whose sole purpose is to sit in the middle and take a cut from the primary transaction - and so it ends up being the same as the system we have already.

Can you explain how crypto currency will deal with those things?
 Back to top
View user's profile Send private message You must be logged in to rate posts

bladerunner
World Chat Champion



Joined: 09 Sep 2006
Karma :
PostPosted: 23:09 - 13 Dec 2017    Post subject: Reply with quote
well boys I'm rocking £1.33 today....partly by the 11% rise in Monero overnight Thumbs Up Laughing
____________________
Current bikes...cbr929, KDX200's, Rd125lc mk2, RGV250's
 Back to top
View user's profile Send private message Visit poster's website You must be logged in to rate posts

The Artist
Super Spammer



Joined: 06 Jan 2008
Karma :
PostPosted: 00:12 - 14 Dec 2017    Post subject: Reply with quote
Lord Percy wrote:
So basically the government have seen it for the speculation-propped pyramid scheme that is is and sidelined it as nothing more than a purchasable pseudo-commodity with a manufactured sense of value that people are free to throw money at as long as they're the only ones who lose out if the bubble bursts?


More like China has some of the strictest capital controls in the world and they do not allow their citizens to send large amounts of money abroad. Cryptocurrency can bypass these rules easily.
 Back to top
View user's profile Send private message Send e-mail You must be logged in to rate posts

Rogerborg
nimbA



Joined: 26 Oct 2010
Karma :
PostPosted: 08:35 - 14 Dec 2017    Post subject: Reply with quote
bladerunner wrote:
well boys I'm rocking £1.33 today....partly by the 11% rise in Monero overnight Thumbs Up Laughing

If you cash out, which you won't.

I have a green banana. It'll be worth more tomorrow when it's ripe. Therefore it'll get more and more valuable every day forever.
____________________
Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike
 Back to top
View user's profile Send private message You must be logged in to rate posts

The Artist
Super Spammer



Joined: 06 Jan 2008
Karma :
PostPosted: 08:49 - 14 Dec 2017    Post subject: Reply with quote
Rogerborg wrote:
bladerunner wrote:
well boys I'm rocking £1.33 today....partly by the 11% rise in Monero overnight Thumbs Up Laughing

If you cash out, which you won't.

I have a green banana. It'll be worth more tomorrow when it's ripe. Therefore it'll get more and more valuable every day forever.


I know you don't really believe this stuff has a future but that is a terrible analogy.
 Back to top
View user's profile Send private message Send e-mail You must be logged in to rate posts

Rogerborg
nimbA



Joined: 26 Oct 2010
Karma :
PostPosted: 09:38 - 14 Dec 2017    Post subject: Reply with quote
The Artist wrote:
I know you don't really believe this stuff has a future but that is a terrible analogy.

It's a berry good metaphor though.

You have an asset that's increasing in value.

At some unknown point you're going to caress your perfect firm banana, place it on your pillow and kiss it tenderly goodnight, and then wake up to find a worthless sticky mess all over your sheets.

How do you determine that you're precisely at Peak Banana, and sell it on to some other monkey so that it rots in their fruit bowl?
____________________
Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike
 Back to top
View user's profile Send private message You must be logged in to rate posts

Jayy
Mr. Ponzi



Joined: 08 Jun 2009
Karma :
PostPosted: 17:10 - 14 Dec 2017    Post subject: Reply with quote
https://sono.money/

What do we think? ICO in 20 days.
 Back to top
View user's profile Send private message You must be logged in to rate posts

Ste
Not Work Safe



Joined: 01 Sep 2002
Karma :
PostPosted: 17:17 - 14 Dec 2017    Post subject: Reply with quote
15,000,000 at $1.25
15,000,000 at $1.50

Shocked

Makes you want to start your own cryptocurrency get rich scheme. Laughing

(All Nationalities, except: United States, Socialist Republic of Vietnam, People's Republic of China, Iran, North Korea, Syria, Sudan, or Cuba Laughing)
 Back to top
View user's profile Send private message You must be logged in to rate posts
Old Thread Alert!

The last post was made 6 years, 124 days ago. Instead of replying here, would creating a new thread be more useful?
  Display posts from previous:   
This page may contain affiliate links, which means we may earn a small commission if a visitor clicks through and makes a purchase. By clicking on an affiliate link, you accept that third-party cookies will be set.

Post new topic   Reply to topic    Bike Chat Forums Index -> The Geek Zone All times are GMT + 1 Hour
Goto page Previous  1, 2, 3 ... 12, 13, 14 ... 56, 57, 58  Next
Page 13 of 58

 
 You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You cannot attach files in this forum
You cannot download files in this forum

Read the Terms of Use! - Powered by phpBB © phpBB Group
 
Debug Mode: ON - Server: birks (www) - Page Generation Time: 0.14 Sec - Server Load: 0.26 - MySQL Queries: 17 - Page Size: 152.59 Kb