Picking up the Pace in Blockchain

The latest with Bitcoin, currently worth $2450 US, is that transactions are moving quicker again. My latest took about an hour and half to receive the minimum of 3 confirmations in the blockchain system. In my opinion though, the rate or speed for confirming transactions still needs to be tweeked. Even an onsite estimate time to complete confirmations would be an improvement.

The thing with digital currency, which we can never actually see or hold until it is converted to cash, wasn’t taken seriously by an ‘old schooler’ like me. Although I watched it launch, I wasn’t one of those folks who envisioned the first Bitcoin out there online could amount to something and purchased. They certainly prospered if they held on without selling early on.

Today, thousands are into Bitcoin and other digital currencies with some financial institutions creating their own. Many are now researching what new thing can take off and snowball, steady increasing it’s conversion value in the world’s currencies. There’s also different systems in the works for confirming transactions, other than the most popular today, the blockchain.

A change of subject here where I like to add my recent favorite piece of music with my personal rating system of cranking up the volume when I hear the introduction. I heard ‘Hello’ once from Adele and that was enough for me but her tune ‘Water Under The Bridge’  I can listen to daily.

It’s got that beat I like with the background singers plus Adele’s unique change of pitch in her voice.

In the Biz, after hanging back for a few weeks … I shrugged off the risk and got back into a couple HYIP’s that are Bitcoin based, which are highlighted in my sidebar. In that sidebar to the right, I highlight the ventures I’m into and make changes when a program begins to flatline or closes shop.

Again with Bitcoin, It’s now about trying to estimate the time to complete transactions for funding or ‘sending’. I’ve always wanted to be funded ‘yesterday’ when I commit but can’t do that with the blockchain system, so that’s added risk where it’s all about timing. Because, once a new venture is born or in it’s infancy, it’s already dying … my morbid but true overview of it all.


Pending a Delay

Now that the majority of online ventures have switched to Bitcoin and transactions are going in and out of Bitcoin Wallets by the thousands per day, I see a major issue has come up and so far there is no ‘fix’ for it.

Here’s the problem. Using the Netherlands based ‘Bitcoin go between’ Blockchain, being the largest in the online world right now; it takes 3 confirmations from ‘miners’ they use to ‘move’ my BTC/Money. Blockchain itself has no control over when a ‘send’ or a ‘request’ is completed. Currently … 219,000 uncompleted transactions.

My transactions are now 3 days old so as an investor, there is nothing I can do but wait and of course that delays any interest I could earn with the opportunities I’m in limbo to fund. And … those transactions on hold are not included in my overall wallet balance. If I want to send my Bitcoin to ‘cashout’ in US dollars, there is no time frame when that will be done.

So … I look at this as an overall flaw in the system and I won’t do any further transactions until the two ‘pendings’ I have are either cancelled or completed. There should be a ‘time out’ feature where a Blockchain Wallet holder can select a time frame to cancel a transaction, say 24 or 48 hours maximum.

Just thought I’d share my experience today where I’m sure those into Bitcoin are wondering what’s happening and why with transaction delays. Patience is the word of the day.

Closing for today, I’m not positive about this but it seems the large transactions that pay the Miners and Blockchain higher fees are being singled out and completed where I see the latest stats showing Bitcoins worth thousands and millions being finalized. A wicked amount of money in Bitcoin being moved around these days.

In other upcoming compensation plans … ‘The Tripler’ from years back is being reborn and scheduled to start up soon. I’ll be using STP for funding. No delays with that processor where I have been using that Canadian based money processor for years as well. I had an excellent run with The Tripler and look forward to being involved once again despite the risk involved.

The Flipping Bitcoin

Here in the Atlantic Provinces of Canada, we seem to be delayed a month getting into the normal weather patterns for this time of year. April is usually the rainy month but we got more than enough rain for May already. Although I don’t want to see steady dry weather, the Big Guy up there needs to break it up with a couple days of sun here and there.

In the NHL Playoffs … the sole Canadian team, the Ottawa Senators are in the semi finals, starting tonight against the Pittsburgh Penguins. These years, it’s called the Conference Finals and the remaining two teams face off for the Stanley Cup.

The interest in Bitcoin in the Biz remains high where the financial world is interested in the Blockchain theory behind the Bitcoin and Japan is seeing a lot of folks buy BTC with Yen where it’s recognized as an official currency now. Current value is fluctuating around $1700 US.

With the online ventures, there’s a new complexity to those plans involving Bitcoin and they revolve around the constant changing value in currencies around the world. Something like the Forex marketplace but mainly dealing with the US dollar, occasionally the Euro.

For example, a minimum funding … say .01 BTC, was a lot lower in US dollar value three weeks ago than it is now, as members involved in these programs well know. With the BTC value rising, it can take longer for a ‘term’ to expire due to the percentage per day or on time. Kind of complicated but where I am in a BTC plan called, Wallet Pllus, I can see this all playing out while I watch the current price of the Bitcoin.

To summarize, these Bitcoin based compensation plans deal with the ‘real time’ value of the BTC.

I can just sit idle and watch my Bitcoin go up in value in my ‘Wallet’ but what’s the fun in that.

Kind of adds more excitement to it all where I watch the numbers play out like folks involved in Forex or the stock market/mutual funds/ETF’s, etc.

On the flip side of all this is the seedy underbelly mostly caused by ‘greed’ of course and how Bitcoin holders can lose a bundle in a hurry, in seconds without knowing it until later. After all, this is the practically uncontrolled internet where good folks and companies constantly try and cover up their digital footprints. Doesn’t take much for a hacker or team of hackers to see part of a big toe and wiggle their way into your private finances.

Happy Mother’s Day to all the Mom’s out there.


The Barter

I would have to say, Kijiji is one of the more popular sites online today. Whatever you are looking for from housing, rentals, work, products for sale are posted by folks who list their Ad with a handy email reply box. Some prices are fixed while others are on a barter basis when a buyer and seller hook up to discuss the final cost.

The owners of Kijiji, which means village in Swahilie, must be very pleased with their success and now spending big bucks of their own on TV Ads.

A warning I have, which has happened a few times in the city here, is like a recent incident where a meet was setup in a Mall parking lot. The buyer, who intended to buy jewelry was robbed of his cash at gun point and beaten. Police never did catch up with the crooks. Always be careful about the meet surroundings. Try and avoid getting setup because we are talking about money and the greed that lurks behind it with some people.

In the NHL Playoffs, the 2nd round is winding down with some clutch games happening while the Ottawa Senators and Edmonton Oilers, the two Canadian team left … fight to get to the semi finals.

Bitcoin is in the news everyday with steady updates. Almost information overload with what’s happening with the Digital Coin around the world, currently below $1600 US in value. I’ve used Payza and SolidTrustPay for years and both of these money processors allow me to fund and withdraw with Bitcoin, values shown in US dollars. So, those are options I have available to ‘move’ my BTC.

Meanwhile, the Biz is moving along, where it’s always about going forward with the finances with no rear view mirrors. Sometimes at a slower pace than usual but my online fund ‘build’ continues.





The Bitcoin Marketplace

It’s great to see Canadian NHL teams make an impact on the playoffs so far. The Ottawa Senators and Edmonton Oilers are both up 2 games in their best 4 out of 7 … 2nd round series.

Sidney Crosby, the hometown lad from here in Halifax, Nova Scotia is also up 2 games leading his Pittsburgh Penguins squad. Again this year, they have the high scoring forwards to probably go all the way although opposing teams will try to shut them down.

In the Biz, Bitcoin continues to climb in value, currently at a wicked $1300 and above US conversion at this time. Folks who simply held on to their Bitcoin last year this time made quite the profit where it was around $400 US.

Informative video about Bitcoin but there are fees involved so that part is not 100% correct.

Supply and demand plus a hot digital coin marketplace is driving the Bitcoin. I’ve always been into comparisons and that reminds me of the housing market in our cities, specially central Canada and west plus northern areas that get into that ‘boom’ time where housing costs are crazy. Certainly not worth the actual value of the homes built today. mostly framed by the cheaper ‘pressed board’ panels or aspenite.

People that ‘flip’ houses easily make a profit as more cost is added after renos. City councils are loving it, levying taxes on the ever increasing, so called ‘value’ of a house. But, that’s the world today … drive the cost of living up at a dizzying rate with no thought to where it will all end. Those coming into the cities to work are first faced with the high expense of just finding a decent priced place to live.

Back to Bitcoin and the theory of buy low, sell high. Certainly got to be cautious about buying Bitcoin currently where I can’t see it staying at that high level. Seems like $900 to $1100 is the average value these past months.

Meanwhile, I spread my wings cautiously where I joined a few newer ventures online. More like a finch wingspan compared to a Gannet with a wingspan of near 7 foot. So far, so good.