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Bloody Panda

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Answers by Bloody

what ia the best cryptocurrency?
There is no "best" cryptocurrency. The only way to define a "best" is to define a certain feature they excel at. If you're looking for the highest market cap, go for Bitcoin. If you're in need of the most coins you could possibly get, go for StrongHands. If you need the kewlest coin, go for DogeCoin...
As you see, there's no "best" cryptocurrency. There is only a best in every feature. You can't take a best overall cryptocurrency, as that will be almost entirely opinion-based.
With all the volatility in the market, is it a bad time to invest in bitcoin right now?
No. Whether the volatility makes it a bad time to invest in Bitcoin, is purely based on your trading strategies. If you're an active trader who's good at predicting prices, it's a wonderful time to jump in! If you're looking for some safe growth, I'd recommend waiting a couple months for Bitcoin to either rise more (so you miss the opportunity), die out (you just saved your future life) or Bitcoin is still hanging around the same or a bit lower price, which means you've been lucky.
Anyhow, if you're an active trader: JOIN! If you're looking for some safe & steady growth, GET OUT!
After the mining of 21 million bitcoins, what will be incentive for the people who take part in the blockchain network, also called miners?
Ever wondered why you're paying fees for bitcoin transactions? It's because the mining rewards are not enough for them.
So after the 21 million bitcoins are mined, the fees will be what pays the miners.
whats hashrate and why does it matter for the blockchain
Hashrate is the amount of calculations a certain miner (of one certain crypto) can do. A blockchain's total hashrate is the amount of calculations all miners (of one certain crypto) together can do. If a blockchain's total hashrate becomes higher, the block difficulty will rise too, as most (I think all) crypto's adapt their block's diffculty to the time it takes on average to mine them. For bitcoin, each block should take 10 minutes. If they take only 5 minutes, the system knows that the block difficulty should become higher, so it doubles and it takes 10 minutes again. The opposit happens if it takes longer than 10 minutes.
For individual miners, it would be bad if the total hashrate rose, as the mining rewards tend to stay the same (or even half after some time...), if the price of said crypto doesn't rise aswell, because the same reward would have to be split among more users, which would obviously result in each user getting a bit less.
What is an ICO pre-sale?
Many projects need a lot of money for their release or further development/research on it. To get money for this, they sell Tokens in ICOs. Mostly to encourage the big boys to invest in the project, they give big investors some extra advantage: This is the ICO pre-sale, or often named "Pre-ICO". Pre-ICOs offer more tokens per [Currency_Unit], but often only allow you to enter if you invest a large amount of money, which often amounts to thousands to tens of thousands of dollars.
In short: The ICO pre-sale is the sale before the real ICO, which has a higher minimum investment, but also offers extra advantages, which is mainly used to attract big investors.
Is it possible to earn crypto through this helptap platform?
Yes. As can be read in their thread on Bitcointalk (https://bitcointalk.org/index.php?topic=2130090.120), their developer/manager (not sure about his precise role) states that it is not yet possible to withdraw coins from HelpTap, so you can't really make money directly yet, but they will soon do a sale of coins (Initial Coin Offering, short: ICO), to make HelpTap coins worth something and then you will be able to make money directly from HelpTap. His precise statement was: "Right now you can't but the idea is that there will be monetary value attached with them once we do a coin offering."
It's possible to make money from HelpTap already though, but not as easily and honorfully. You could refer people to sites with referal links to earn money from them or you could give your adress for them to give you a tip on, which would ofcourse only make you money if people actually sent you a tip.
Have you found asking questions on here to be better or more efficient than doing a google search?
It's very different. Google Search can help a lot in most cases. Many questions that are asked here could be easily found on Google, but some questions can't. Google can't give its opinion. Google can provide opinions from websites, but it can't have a deep conversation...
A good comparison is seeing Google as someone you're interviewing. You can type something in the searchbar and it will respond, but it won't ask you anything for their own interest.
HelpTap rather provides a real conversation, as you chat with the one who's answering you.
is there a chance that bitcoin will become a reserve currency like gold?
That's very much possible! Not only is it much harder for possible thieves to figure out you even got that amount of Bitcoin stored, you also don't have to store the gold somewhere, which takes space and it's very safe too, as long as you don't tell everyone about your paper wallet and put "THIS IS MY BITCOIN PRIVATE KEY: xxx" on your paper. It's easy to get, easy to keep it safe, easy to use it when needed, accepted on a variety of places (most of which online) and doesn't take a lot of space. That's why I believe it makes a perfect reserve currency, even better than gold.
Contrary to what other people answered, you don't really need the low fees and fast transactions other cryptocurrencies like Litecoin offer. Of course they're very useful if you use it often, but there's a reason it's called "reserve currency" and not "most-used in daily life currency".
do you think the signature campaign in the bitcointalk forum is a blessing or a waste?
There are two sides to it, which I will explain below:
1. It's a blessing. For new/existing projects, it's a great way to advertise themselves. For Bitcointalk users, it's a great way to earn some extra money, just for being active on a forum they like. Therefore, it's good for both the advertiser and the Signature Campaign Participant.
2. It's a radioactive substance that's poisoning the whole forum. Because signature campaigns pay for very little effort, it's an easy way to make money. Recently, more and more people have started to use Signature Campaigns as easy money sources... They just post "I like this post." and "I disagree with this post", all in bad English, only to make money. Many campaigns only count posts that have a certain amount of characters in them, but then the Signature Campaign abusers just put more garbage in their posts to make them longer than that amount of characters. Then there are some campaigns that only allow Constructive Posts, but those are rarely managed well. The line between posts that are actually constructive and posts of someone who's just not very smart/good at English, is VERY thin. Many campaign managers also have emotions and don't always want to disqualify the light spammers.
As a Signature Campaign Participant myself, I feel like Signature Campaigns are a blessing, but the way most of them are managed is a waste.
Are blockchain open source projects 100% trustable?
If you are completely sure that there's no hidden code somewhere and you understand all the code, then yes, it is trustable. If you are unsure whether the whole project is open-source or you do not understand the code, then the project is not 100% trustable.
What is the best wallet?
The Trezor hardware wallet is probably the most secure wallet, but it costs money and quite a bit too!
The free wallets I recommend, are: Electrum, which you can download and blockchain.info, which is an online wallet
Quick Poll: Where do you see the price of ETH(ethereum) by the end of 2017?
$300 (250-350)
Its most promoted use is ICOs, which pump&dump the Ethereum price the whole time. The most common argument for Ethereum being worth a lot, that I have heard, is the fact that it's used in many ICOs. Sadly, the Ethereum that is used to fund the ICOs, will also be sold to use the money. After a very large ICO, you'll see that the price of ETH has risen a bit and that it will fall after the ICO is completed.
That is why I believe its price won't reach into the thousands anytime soon. It's possible that the price rises higher than $300, or even to $500 or more though, as cryptocurrencies tend to behave.. unpredictable..
Why has been the price of bitcoin fluctuating these past few days? There wasn't any significant news which could affect it so much. What's the reason?
Are you new in the cryptocurrency world? If so, you should know that almost all (besides pegged) cryptocurrencies are VERY volatile. Bitcoin has actually been reasonably stable in comparison to other cryptocurrencies. If you look at the graphs of bitcoin vs the graphs of other cryptocurrencies, you will see that Bitcoin is reasonably stable. I suggest you take a look at it yourself, at coinmarketcap.com
What are helptap token are for?
Helptap tokens are an attempt to make Helptap coins worth something. I'm not sure about their purpose yet, but most likely they will be tradable and you will gain access to additional features if you own tokens.
Why do companies need to issue a token to build on the blockchain
Companies/projects often need or just want more money to develop their project. They also need to spread knowledge about their company throughout the niche. Tokensales solve both of these problems, as they will usually make the company enough money to develop their project and you then got tons of tokenholders too... People that are now more likely to take a look at your project/company, which is obviously very good for your company.
If they have a lot of money already and are well-known, they would still need a way to offer their services on the blockchain (otherwise it wouldn't make sense to build on the blockchain), which tokensales help a lot on. As you see, tokens help companies a lot in multiple ways.
what percentage of your portfolio do you keep on exchanges?
About 50%. Why? Because I trade such small amounts, that the risk of the exchange being hacked beats having to pay the fees for the transaction to my own wallet, which I only do in Bitcoin, as it just doesn't feel safe to hold it in other cryptos to me.. Not sure why that is though.
My recommendation to you: Don't be like me, go long-term on your portfolio and get your coins off the exchange.
What's the right time to buy Bitcoin. I want to be like "Buy and Forget" i.e. I want to keep it for a long term investment.
If you want to "Buy and Forget", the best thing is to buy in a dip. The problem is that no one knows when these dips will be, how deep they will go and no one will even know whether we're in a dip or in a long-term downtrend. Therefore, no one can tell you when is the right time to buy Bitcoin. We can only tell you what COULD be the right time to buy Bitcoin.
If you look at the graph at https://www.coindesk.com/price/ , you'll see that Bitcoin has just risen out of its dip on $5200 and is now worth between $5600-$5700. How large is was this dip? It's 8%. How big is the chance that you will have to wait months or even never experience this 8% dip again. Therefore, I recommend buying now. If you buy now, you'll also get the same amount of Bitcoin Gold on the fork soon too, which will probably make the price of Bitcoin rise even more once it approaches the 3rd of november, being followed by a small sell-off, afterwards.
What do u guys think of Helptap/Quora like platform running on blockchain?
Although it's a nice idea to expand the wide market of cryptocurrencies to Quora/Helptap-like platforms on the blockchain, I don't see any advantages in it.. Really... It's a nice idea, but there are so many nice ideas and many of them have almost none to very simply none advantages over non-blockchain-based platforms. What would be the advantage of making Quora blockchain-based? I don't see the advantages. If you know any advantages, please feel free to tell me.
I have a friend the just purchase his first Bitcoin and he doesn't have a Ledger wallet yet. What wallets support Bitcoin gold so he doesn't miss out of the free bitcoin gold?
There are many of them. Any wallet that allows you to access your private keys is OK already. It's also likely that many exchanges will give you the same amount of BTG as the BTC you held there, although I advise against that. The best way to go is probably getting a wallet of which hold the private keys. Not only paper wallets, but also many software wallets like Electrum, Bitcoin Core, Mycelium and other wallets that allow you to access your private keys will get the job done. I'm quite sure complete guides as to how you can claim your Bitcoin Gold will be available after the fork, just like what happened after the Bitcoin Cash fork.
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