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Parishy

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Parishy last won the day on June 10

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About Parishy

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  1. Anyone have experience buying realestate property by using Bitcoin??? Can anybody recommend escrow company from UAE to allow trade like that?
  2. In year 2136 the bounty will be 0.00000042 BTC per block. So now think how expensive those 40 years of mining will be, including tx fees; how much $$$ would running the current hashrate for 40 years cost? That would get you 1 bitcoin. Cutting out all the speculation and absurd pumping and dumping to smokescreen the core idea that the cost to mine 1 bitcoin is a fair indicator of what 1 bitcoin's minimum value is, it becomes clear that the absolute minimum value is capable of being a massive multiple of what it is now, even if nobody spent or sold one. BTC, or any crypto, floors at the cost to mine one: a conversion from electricity and infrastructure into "value tokens." If it costs me $1,000 to mine one, I would never sell it for less than $1,000. And then eventually it costs more than that, and so on. It is then a store of that expense. A token of that value. "Using it" is simply having it... mined or purchased. Adoption involves the fluidity of conversion and outlets of acceptance, sure, but essentially stating that the value will "never go up" is stating that cost of mining or hashrate will also "never go up." Both have gone up steadily. If you'd like to see the bubbles happening, look no further than the cost of mining vs the cost of bitcoin. Notice how it has never dropped under mid-scale mining costs, ever, in the history of BTC. Notice how 1/2 of all bitcoin was mined at or under a $50 valuation, when a couple hundred dollar ASIC could turn profit in a few months. 100% of strategies of diversifying or averaging were pointless since then, the most successful strategy was to convert as much fiat (via cash or mining resources, whichever is more efficient for you) to BTC. Right now estimates sre that it is around $5-6k to mine one bitcoin, and since hearing that figure the hashrate has jumped up ~15%. So unless you think the hashrate will double with the cost of mining halving, that means the baseline will follow suit to a substantial degree. So, yeah, some real advice? Don't pay more than a couple percent over the cost of mining for 1 btc unless you're prepared to wait.
  3. Trying to look at the current drama at a more macro level... and then raising the question of whether we are unintentionally creating bloatware? There has been a lot of grief lately from the development side regarding hot emotions and banning from whatever. Frankly, I could care less. Maybe I'm old, but this crap is so tame compared to the internet in the 90's. I mean... does anyone actually think this comes anywhere close to goatsy? But the question of why and where this is coming from is more important to me. What really bothers me, and has been for a while is that development has lately been really feeling like potential bloatware. All I really wanted was for the damn block limit to be increased like originally planned in 2010. So we get that done, and next thing I know there are planned updates twice a year, bitcoin cash tokens and god knows what else! Even if there was no worry about getting co-opted, this is just asking for trouble. When you mandate updates, it is human instinct to want to make something to put in that hole, and by scheduling them we are creating deadlines. Thereby adding a bunch more stress and drama for good reason at all.
  4. When I started investing in cryptocurrency I didn't understand anything about it as I am not extremely good with computers and I have zero knowledge about coding. I initially invested as I assume most do and that was to make a quick profit. However the more I studied blockchain technology the more I started to understand it, and it kept leading me back to Bitcoin. Once I had read the whitepaper a few times I was down the rabbit hole and was consumed with understanding it. What followed were months of trying to understand all the ins and outs of Bitcoin without having a solid understanding of cryptography. I gained knowledge but everything was still above my head when it came to the intricate details. It was then that I heard about the book The Bitcoin Standard. The book is absolutely perfect for anyone who is mildly interested in Bitcoin, it begins with teaching you how to understand money, what was first used for money and why that certain form of money either succeeded or failed. It then dives into economics, the two different kinds and why they are both fundamentally wrong, the amount of detail in these chapters is so easy to understand and leaves you with a solid understanding of why empires succeeded or were destroyed.
  5. I'm seeing responses to this selloff focus on the SEC's decision to postpone the ETF. People are saying things like "how is it possible that postponement of a decision can lead to a selloff like this? " I can't be the only person unsatisfied with the lack of a clear answer to that. Part of the answer I'm providing to myself is that there is more than one reason we are selling off right now. I'm entertaining the possibility that the SEC decision isn't even the most important factor in this selloff.
  6. I'm struggling to find answers to this question online. It seems that all exchanges require photo ID in an anal manner, not to mention localbitcoins themselves, and then the individual sellers online there. Isn't there a simple method left anymore? On top of that, anything tied to ID doesn't even seem reliable, so there goes that,
  7. Many people have been investing in bitcoin regularly. But for a few months the price of Bitcoin is down in the market. Many people invested in Bitcoin and gave big money to the losers. If the Bitcoin value is down, then the traders can retreat from the Bitcoin investment. Is Bitcoin Investing is really High Risk?
  8. New ICOs everyday and more and more cryptocurrencies being added to exchanges everyday. The large majority don't invest in the biggest cryptocurrencies (bitcoin and ethereum) because they are too expensive and they don't see a huge upside, so they throw money into useless altcoins that hold no value while the "developers" behind these shitcoins holds 30-50% of the coins marketcap that they at anytime can dump into the market which removes millions of dollars each day from the market. Will we ever reach a point where people will wake up and realize that throwing money into altcoins is like throwing money into the toilet? Will we reach a point where the common conception is that all alt coins are actually shit coins? Is that what is needed for us to finally go into a serious bull market once again?
  9. I think I’ve made a mistake. Luckily, I only funded my account with a small amount to guard against this, but I’d like to figure out what’s going on. I’m holding bitcoin. Noticing that the futures price was much lower than the spot price, I bought September XBT futures intending to hold until resolution and make a small profit compared to just holding bitcoin. I bought using cross margin, and accidentally used 0.5x leverage instead of 1. I bought at 6020 and the price is now 5980. However, the “unrealized PNl” says -56%. Did I lose 60% of my investment? HOW?
  10. Spending Bitcoin vs. keeping it as a store of value. What are your thoughts?
  11. address 1 contains inputs totaling 1.35 btc, a TX is created and signed but not broadcast to move .35 btc to address 2 without the TX being broadcast, accepted into a block and confirmed is it possible to create a new TX with the not yet sent funds sending them from address 2 to address 3??? please help by proper answer
  12. Volatility, flash crashes, hacks and scams: life in the crypto demimonde can be tough, but perhaps the worst fear of every trader is the harrowing possibility that, after earning a tidy profit in bitcoin or ethereum, they lose their wallet signature or air-gapped drive. As nightmarish as this sounds, it actually does happen. There have been numerous cases of misplaced hardware wallets and forgotten keys in recent months, and if nothing else these highlight how the humble human is the weak link in the supposedly inviolable cryptographic security of blockchains. Blockchains provide us with immutable records of our funds and with nigh-on unbreakable encryption of our accounts, but we often go and spoil it all by failing to losing our private keys, or by simply throwing our crypto storage in the trash. Rewards To the take the most recent example, a Swiss man – known only as “Thomas T.” – offered a reward to anyone who could reunite him with his Keepkey and Ledger Nano S hardware wallets, both of which were lost when he went shopping in Lucerne in April. Initially, the reward he offered for these two wallets – which together contained cryptocurrencies worth CHF 800,000 (approx. EUR 672,000) in total – was CHF 40,000. However, after almost a month had passed without any promising lead, Thomas more than tripled the reward to a hefty 135,000 CHF, a move that has only increased the emails he’s being swamped with on a regular basis by people who think they ‘might’ve seen’ his wallets at the Eiffel Tower or on the peak of the Matterhorn. According to Thomas' version of events, he wasn't sure whether he'd left his bag in his unlocked car, or if he'd put it down somewhere while out shopping and left it behind. Either way, it shows that the moral of this story is that, if your crypto is secure only for as long as you keep it in your physical possession, then you really ought to keep it in your physical possession. Petitioning the City Council Human oversight and forgetfulness is also what struck in a case in Newport, Wales, where an early miner of bitcoin accidentally threw out an hard drive during a spring cleaning session. According to James Howells, this laptop contains the private key to the 7,500 bitcoins he mined in 2009. As of writing, these 7,500 coins are now worth almost USD 57 million. Unsurprisingly, such a princely sum has led Mr Howells to repeatedly petition Newport City Council to let him excavate the local landfill site, where his old Dell hard drive is most likely buried. Also unsurprisingly, the council has refused his requests, citing the huge financial and environmental costs involved. What's funny/sad about this is that Howells still has the public address of his bitcoin wallet, enabling him to check that his 7,500 bitcoins are still there, but not enabling him to move them to the nearest bank.
  13. Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative. But I am not familiar with the specific product to assert whether it is the best potential setup. And we need a long time to establish confidence.
  14. Both Ether and Dash saw new lows this week, with prices bottoming out at 0.05240 BTC and 0.04077 BTC respectively. Since these lows we’re seeing somewhat of a bounce for both altcoins but more on that later. Ether Downtrend Still in Force

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