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Do you think talking about Bitcoins is the job for gentleman Do you think talking about Bitcoins is the job for gentleman

02-01-2014 , 06:06 PM
Quote:
Originally Posted by OnMyBike
If so, post here. (mods, I hope this is welcome)

Bitcoiners, I'm enjoying learning in a Q&A format, thank-you for your posts.

One thing that surprises me is learning how hard it is to get started with bitcoins. I'm reading about applications, approval process, rejections - what is this about and what is the long term solution? This is obviously a very real barrier to BTC adoption.

Second thing that's a bit intimidating is the security concerns. Setting up a "never connected to the Internet" computer is casually mentioned several times. Again this is a huge barrier. It isolating from the internet actually a necessity? Are bitcoins more at risk than other investments that can be accessed online?

Cheers
Bitcoins are more at risk than all other investments as they essecnailly are online cash. In another few years, probably much sooner, you will not have to worry about it. Solutions will be made that reduce risk significantly.

Bitcoins are more at risk than anything as they are simply digital cash.

Quote:
Originally Posted by WompWomp
If you set your computer up as a bitcoin miner, what are the chances you would ever win a block and how valuable would the block be?
Don't waste your time.

Quote:
Originally Posted by cpar1
What would specifically be some of the best ways to keep your coins secure? For someone just holding on long term, how would you go about isolating them from the internet?
Armory offline wallet. Links were already provided in the other thread.

Quote:
Originally Posted by WickedChippa
http://rt.com/business/bitcoin-china-btc-reopen-458/

Are any of the bitcoin investors worried about bitcoins immediate future? It looks pretty grim...

http://money.cnn.com/2014/01/27/tech...tcoin-arrest/- Ceo is under arrest for money laundering and the international bankings standpoint seems unfavorable....


How have people not cashed out all their Bitcoins in fear yet? I mean this isnt bovada getting a lil raid in the Philippines this is some serious ****.
I hold all of my net worth in bitcoins. I am just wondering when the next major price increase will be and what the catalyst for that increase will be.

Quote:
Originally Posted by DPR_1985
Best advice anyone can give regarding BTC market.

If you dont already know, then you are 2/3 years behind so dont bother.

Unless you have a really detailed understanding of BTC the chances are you will lose your coins at some point. I have dealt in BTC for 3 years and lost all my coins recently with a reputable market.
There is still a ton of upside to bitcoin. This can be easily inferred by looking at the market cap of what aims to be the first global, decentralized currency.

What was the reputable market? Why did you not keep them offline? Why did you not at least keep them divided?

Quote:
Originally Posted by Yoshi1
I did some research into bitcoins, and it's a total scam. Just like the FED printing money to buy security's every month you use special computer setups to "mine" for bitcoins. I thought, hell, I've got 6 top line macpros sitting idle for 14 hrs a day, I should plow through and score me some bitcoins in no time! And they were being valued at $900-$1000 a piece. So, I signed up for a bitcoin farming account, digital wallet, etc and started to profile my setup to see how long it would take. With all machines running full bore, it would take me 4 months to earn 1 bitcoin while burning almost that same amount In electricity.

Waste of time and resources. And the whole shebang could crash at ANY time.

Some people would have you believe that bitcoin is the way of the future. But I do know that bitcoin was the currency of choice for silk road. That was a site the feds just shut down a few months ago where you could go buy black market items, ie drugs hitmen human trafficking etc!!

SAY NO TO BLACK MARKET!!!!!
Yes, mining is a waste if you're using normal computers. Your post is correct about that if nothing else.
02-01-2014 , 06:14 PM
Quote:
Originally Posted by OnMyBike
If so, post here. (mods, I hope this is welcome)

Bitcoiners, I'm enjoying learning in a Q&A format, thank-you for your posts.

One thing that surprises me is learning how hard it is to get started with bitcoins. I'm reading about applications, approval process, rejections - what is this about and what is the long term solution? This is obviously a very real barrier to BTC adoption.

Second thing that's a bit intimidating is the security concerns. Setting up a "never connected to the Internet" computer is casually mentioned several times. Again this is a huge barrier. It isolating from the internet actually a necessity? Are bitcoins more at risk than other investments that can be accessed online?

Cheers
The easiest way for you to buy bitcoins, if you're in America, is through CoinBase. The best way to buy them no matter where you are is currently through Bitstamp.

Once you have the coins in your wallet, you have a few options for storage. The easiest thing to do is make insanely long passwords to your bitcoin accounts and only store those passwords offline, then never login to the accounts again, until you want to sell. You can also divide your holdings between Blockchain.info, Bitstamp, and CoinBase to make sure you don't lose everything if one of those sites gets hacked and does not have the ability to pay you back. The better option is to set up an offline instance of Armory on a computer that has never been connected to the internet.

Bitcoins are digital cash. There is no third party that has your back if you lose them. There is no type of currency that is more at risk to theft or loss than bitcoins.
02-01-2014 , 06:23 PM
For people looking to keep up with bitcoin news at a glance, this is the best way to do it: http://www.reddit.com/r/Bitcoin/
02-01-2014 , 07:31 PM
Quote:
Originally Posted by Bitcoin boom
For people looking to keep up with bitcoin news at a glance, this is the best way to do it: http://www.reddit.com/r/Bitcoin/
probably the worst place for unbiased bitcoin news that you could recommend.
02-01-2014 , 07:36 PM
Quote:
Originally Posted by invictus-1
probably the worst place for unbiased bitcoin news that you could recommend.
That negative stories are also reported there, although they are made fun of. I asked in another thread recently if anyone had a good place to get negative bitcoin news and the only response I received was to check Twitter. Do you have a person or two you trust who preach the worthlessness and eventual fall of bitcoin?
02-01-2014 , 08:06 PM
Quote:
Originally Posted by Bitcoin boom
That negative stories are also reported there, although they are made fun of. I asked in another thread recently if anyone had a good place to get negative bitcoin news and the only response I received was to check Twitter. Do you have a person or two you trust who preach the worthlessness and eventual fall of bitcoin?
it's not about preaching the worthlessness and eventual fall of bitcoin – those people are as worthless as the ones who preach that we are all going to the moon (see: r/bitcoin). it's about reporting on news objectively. this doesn't happen very much on reddit because it has now become an echo chamber of people who want the currency to succeed so much that they downvote anyone who might disagree with them. as a result, no good discussion ever makes it to the front page. and that's exactly what a bitcoin novice needs to see.

if someone wants to just follow the news, i think coindesk is the best bet right now because while it is pro-bitcoin, it's not as circlejerky as reddit is and it seems to report more or less objectively. for someone who can look at things objectively and figure out what they mean for the future of the currency, i think just searching for 'bitcoin' on news aggregators is vastly superior.
02-01-2014 , 09:01 PM
I guess we just disagree. To me, it seems like everything that is eventually reported on bitcoin, positive or negative, is generally found on Reddit very close to inception, although some articles are downvoted. Reddit is a news aggregator.

CoinDesk is good though, you're right. ZeroBlock is also very good and available as a sweet mobile app that lets you pick what news sources you want included on your feed.
02-01-2014 , 09:06 PM
Quote:
Originally Posted by Hitch-22
For anyone who doesn't really know anything about Bitcoins and would like to learn, Joe Rogan had Andreas Antonopoulos on his podcast this week and it was brilliant.

Explained the history of it, how it works, possible futures, and he answered loads of normal-person type questions about it.

excellent pod cast and AA is extremely articulate

i still don't have any idea WHY bitcoin has intrisic value but such an amazing topic
02-02-2014 , 02:12 AM
Quote:
Originally Posted by Bitcoin boom
I guess we just disagree. To me, it seems like everything that is eventually reported on bitcoin, positive or negative, is generally found on Reddit very close to inception, although some articles are downvoted. Reddit is a news aggregator.

CoinDesk is good though, you're right. ZeroBlock is also very good and available as a sweet mobile app that lets you pick what news sources you want included on your feed.
it's a SOCIAL news aggregator where content is filtered through the userbase. when the userbase is ******ed, the quality of the content suffers. this is r/bitcoin. other news aggregators (e.g. google news) do not have this problem. but this is only a concern if you're a novice who cannot tell the difference between good content and bad content. if you know your **** then obviously r/bitcoin is okay. i just wouldn't recommend it a source of news to someone who knows nothing of bitcoin.
02-02-2014 , 02:17 AM
Quote:
Originally Posted by invictus-1
it's a SOCIAL news aggregator where content is filtered through the userbase. when the userbase is ******ed, the quality of the content suffers. this is r/bitcoin. other news aggregators (e.g. google news) do not have this problem. but this is only a concern if you're a novice who cannot tell the difference between good content and bad content. if you know your **** then obviously r/bitcoin is okay. i just wouldn't recommend it a source of news to someone who knows nothing of bitcoin.
Valid point. I maybe incorrectly assumed that someone new to bitcoin would be able to determine that something is obviously biased.
02-02-2014 , 02:47 AM
and yeah, zeroblock is probably the best bitcoin app out there.
02-02-2014 , 03:39 AM
Quote:
Originally Posted by Hitch-22
For anyone who doesn't really know anything about Bitcoins and would like to learn, Joe Rogan had Andreas Antonopoulos on his podcast this week and it was brilliant.

Explained the history of it, how it works, possible futures, and he answered loads of normal-person type questions about it.

he sounds exactly like Ike
02-05-2014 , 08:25 AM
Hey guys,

Does anyone have an honest opinion about the recent upswing in other cryptocurrencies?
02-05-2014 , 09:36 AM
What's an opinion worth?

Most other currencies follow the BTC path. Alot of people are mining LTC and other currencies while trading them for BTC. So most of the alt currencies follow rise and fall of BTC.
02-05-2014 , 04:17 PM
Quote:
Originally Posted by z0dia@c
Use a tool called Armory. This tool allows you to export the hashes of your coins to screen or paper. You can write it down or print it and put in a safe. You can also export the hashes and copy them on multiple USB sticks.

Never use 1 USB stick because if that stick fails you've lost your funds.
Can you elaborate on this please? What are hashes of coins?

Please link to where I can learn more about storing coins offline.

Thanks
02-05-2014 , 05:06 PM
Quote:
Originally Posted by MrJEM
Can you elaborate on this please? What are hashes of coins?

Please link to where I can learn more about storing coins offline.

Thanks
https://bitcoinarmory.com/

https://en.bitcoin.it/wiki/FAQ
02-07-2014 , 05:56 AM
Also, bitcoin is not about the coin itself but more about the platform that it creates. The platform creates a plethora of opportunities. The biggest problem is that 'the establishment' don't like these options. Governments and banks fear the options bitcoins provide.

Please see the PDF below, an essay written by a friend of mine.

http://www.***************/patricksavalle/bitcoin-20
02-07-2014 , 05:57 AM
why is slide share dot net forbidden to link to on 2+2?
02-09-2014 , 01:29 AM
Anyone have any good links or videos discussing the recent crash?
02-11-2014 , 04:23 AM


i'm posting this purely because i thought it was a funny picture and have zero knowledge to consider getting into a debate. apologies in advance to those who will instantly want to take me to task.
02-11-2014 , 05:47 AM
If you relabel some things it works.

1. Smart money should be crypto nerds
2. Institutional investors should be something about a small percentage of the public
3. Institutional investors would come next.

My point of view is that bitcoin can't be a bubble since it's not overvalued, but I'd be lying if I said those two pictures did not look exactly alike.
02-11-2014 , 06:32 AM
That comparison has been posted a million times in the bitcoin community pretty much since the the the price was a couple of $. The graphs have been 'uncanny' in likeness a bunch of times before.
02-11-2014 , 06:36 AM
Haha definitely look exactly the same. I'd for one be interested to hear more of Caby's thoughts..
02-11-2014 , 07:00 AM
Quote:
Originally Posted by cpar1
What would specifically be some of the best ways to keep your coins secure? For someone just holding on long term, how would you go about isolating them from the internet?
this https://www.titanbtc.com/

      
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