TYVM!

This is the kind of thing I was looking for. Good explanations in his post.

Szabo addresses this some in a recent Tim Ferris podcast:

http://tim.blog/2017/06/04/nick-szabo/

Probably in this section:
What is proof of work, and how is it used in Bitcoin mining? [53:42]


I don't understand his argument well enough to do a good job explaining it but I think he's arguing that a valuable currency needs to be secured at a cost. If it were too cheap to secure then it wouldn't be worth as much.

I forget, why do you hang out in crypto threads when you sold your BTC @300ish? If you don't own any, and don't want any, doesn't it seem a bit counter productive?

Hey I just made a coinbase account and linked it to my bank, I requested a withrdraw from ignition for $70 to test it out last night and it was sent about three hours ago, it only shows up in my coinbase account as "pending" how long till I have access to these funds? I just need them to deposit on Bovada sports book but dam I aint tryna wait all day

Never withdraw directly from a poker site to coinbase.

why

For those of you who are anti bitcoin-is there a way to short the stock? I've seen people say polo and bittrex but they both seem to have some pretty bad reviews out there

finex or bitmex

you can short futures on bitmex

Because Coinbase will shut your account down if they figure it out.

7. QuadrigaCX (Canada) - 4 trading pairs. CAD/BTC, CAD/ETH, USD/BTC, BTC/ETH

People are live streaming bitcoin mining on twitch right now.

Coinbase: Ive been waiting for a reply for maybe 4 weeks about how to withdraw my funds. Nobody responds. I only have a small amount of BTC / ETH there but I dont trust them and I want my £ out. I deposited via debit card does anyone know how I withdraw - it seems I might have to make a bank transfer deposit then withdraw? Why would that be the case? I've also heard bank transfers are not being accepted/declined so where does that leave me?

If anyone wants BTC/ETH for Stars can I send to you? (wrong thread I know but its linked to my question)

Fedex just halted trading to announce that their operations have been substantially disrupted by the Bitcoin ransomware virus.

Regulators are going to step on Bitcoin at some point, because it enables this kind of activity, not to mention tax avoidance and many other kinds of illegal activity. The larger Bitcoin gets, the more it matters and the higher the chance of governments destroying it.

see: Poker
see:Black Friday

Trust me, don't short cryptos. Have you seen the charts? The chances of you picking the right entry/exit point is pretty slim.

In the last 2 months i've withdrawn about $4500 worth of bitcoin from my offshore sports gambling account (via coinbase). also bought about $110 worth of ETH and LTC (sold that for $375). I've liquidated all of the bitcoin too to my bank account.

How do taxes work with this? Do I need to worry about declaring/paying any or just do nothing?

Don't people have the freedom of speech act to protect them? Bitcoin is no differnt compared to a small community that starts paying eachother in rocks right? IDK.

I've heard this viewpoint many times when discussing bitcoin with friends that don't quite get it. Their only knowledge on the subject comes from media exposure or very little research. I'm not saying you share their understanding but i don't agree with your sentiment.

I'm sure governments would love to regulate crypto but where would you even start? Maybe I lack imagination but any hypothetical regulation I can think of would have little impact. As far as destroying it, well that just seems silly. It's worldwide, a select few governments deciding to bring the hammer down will not eliminate it completely.

The cat is out of the bag.

Link it to your bank account or to paypal. Coinbase withdrawal is working fine AFAIK.

yeah, mine to bank account actually came in a day or 2 ahead of when they said it would

I am no expert on this stuff but if, for example, several of the world's governments from the wealthiest countries made it a crime for any business to accept bitcoin, would that not severely impact the growth possibilities?

It would still be used in certain cases but what for-profit business wants to fight the govt.?

You would think the govt could simply paint bitcoin as the preferred currency of hackers and criminals, and outlaw its use on that basis.

"US banks cannot do business with Bitcoin exchanges" would crash Bitcoin overnight. I'm not sure you realize how much power there is here. The US is already able to force exchanges to follow draconian Know Your Customer rules. If you can't fund Bitcoin with a bank account or credit card, it's stone dead for mainstream usage. It businesses can't accept bitcoin, again, stone dead.

No,not completely, unless someone like China decides to take over the hashing power, which they could do overnight if they decide to. You can never control a few billion worth of traffic/year on the black market.

You don't need completely though. The only path to profitability from here relative to the risk you're taking is mainstream adoption. Which is dead if banks aren't allowed to interact with Bitcoin exchange providers

That may be so, but I'd load the **** up on that crash and profit.

U.S banks can't do business with online gambling, but has that stopped online gambling? Yes it suppressed it, but so did the fact the gap between pros and fish got so big with poker tools and what not. The fish got cleaned out and left. I'm sure casino games and sportsbooks are thriving more then ever.

I'm interested to know where posters Gullanian and TomCollins are. Did they have like 10,000 bitcoins since they sound like early adopters? Its so amazing to think bitcoin had a market cap of just $5m not so long ago..

[QUOTE=ToothSayer;52451934]"US banks cannot do business with Bitcoin exchanges" would crash Bitcoin overnight. I'm not sure you realize how much power there is here. The US is already able to force exchanges to follow draconian Know Your Customer rules. If you can't fund Bitcoin with a bank account or credit card, it's stone dead for mainstream usage. It businesses can't accept bitcoin, again, stone dead.

Bitcoin has crashed many times and yet still it stands.

In this scenario, the price takes a hit and absolutely nothing is accomplished. Is bitcoin dead? Nope. Do hackers stop using ransomware demanding bitcoins as payment? Nope. They just ask for more bitcoins because the price is lower.

So, back to your initial statement about governments having a higher probability of destroying bitcoin because its more widespread, I would argue the complete opposite.