|
I don't think of ETH as much as I do Bitcoin but as Vitalik says, he is consistent in his lack of 100% confidence. What's wrong with being open about it? We all love Satoshi but he/she/they just disappeared, and many have abandoned Bitcoin over the years. Should that affect how we see BTC?
|
|
|
|
|
Silently or not, yes, most of us will be ready to admit that your outlook on Bitcoin cannot rely on the forum content - yes we are all crypto users with a lot of zeal as you say. But you will find (sorry you have to dig) many threads from past academic research posting questionnaires. So there is definitely a lot of study coming into it. Sadly, results seldom shared back here.
|
|
|
|
I just try to find the major reasons for the very high volatility of bitcoins price we all encountered over the last years.
1) Exponential Growth ( in trust and usage)
It's clear this is a very strong reason to cause price volatility, since we have double and double of requesters that all needs to get coins from a scarce bitcoin supply.
So we see price squeezes all over the time (more up than down). Further we have no or lost experience with such exponential growth process esp in money (last adoption was gold some 1000 years before)
2) Evaluation Base CCY ?
I have the strong suspicion that bitcoins volatility is positive correlated to the volatility of the lowest trusted fiat currencies' volatility in the world.
Sadly I cannot proof this by averaging the historical volatilities of a 'poor's currency basket' of (Zimbabwe$, Venezuela$, Egypt pound, Jemen slotty, Syria Dinar,..xyz...) but I estimate, that we have same volatility there as in bitcoin. And all people living in those countries should be way better off with bitcoin and it's vola!
We just see and measure BTC/USD - volatility is high, but we forget where it's based on - on the poor ccys all together - but they are dominant here.
3) Heterogeneous / Fragmented Markets
We now have some 100 different exchanges and local places where you can exchange you bitcoin against any other fiat or crypto. There is no condensed order book / matching for a trade and limited arbitrage due to capital protection of some states.
I'd guess we'd see a fraction of the actual volatility, if we would have a (ideal) single world exchange, where all must trade BTC/USD (USD is just a default example for a world fiat and rest crypto ccy) .
Any other reasons you could see?
I cannot really comment on 1, or even 2... but I do know a few of those currencies, and not sure they can even out to Bitcoin's 10,000% or more growth from 2009 to 2017. Very loose connection. But on 3, a single world exchange isn't possible... even today for forex you don't have ONE exchange but many. Each country also mostly trades on its own basket. |
|
|
|
|
Actually, the network started getting bloated with days delays end of 2016, when it was approaching 1k. And then when it broke the very old 1400, that's when network got continuously fatter and the price just kept rising. If there is any relation, it's the other way round. Bitcoin price increase leads to speculation, leads to more volume to trade, leads to tx delays.
|
|
|
|
Funny, how a single ICO can "ddos" the ETH network
What's funnier is how I have today on this forum seen three different ICOs issuing through ETH blockchain, allegedly responsible for bloating/ddos/overloading the ETH network. Probably the latest way to spur people to jump on the packed bandwagon. |
|
|
|
he has a good point though.
right now LTC price has tested the high price of last months again and whenever price reaches the same high after some time (the cup and handle) many will consider it as their relief to sell their coins which they have bought at the previous high, hence crashing the price. and this will never go down to $25-30 again. the lowest will be what we are seeing now. and there is a good chance that it will change direction very soon probably in 3-4 days up to a week.
so buying the bottoms is a good idea.
Yeah, and actually thanks to KrakAJAX, I know now that LTC is definitely going places. Who quits coinbase to focus on developing an old alt if it's not for promises of greater wealth, right? Thanks for sharing guys. |
|
|
|
|
So ETH is enjoying all that volume... thanks to ICOs? And bloat? Whatever happened to how quick ETH network is compared to Bitcoin? Why did we never foresee this before? I thought Vitalik was always thinking ahead?
Surprise us with something new.
|
|
|
|
Being in LTC since 23-26 range, I like this coin and have only invested in it. From a charting standpoint this currency has been very consistent and fairly predictable.The only wrench in the gears has been this strong upward trend back to $50 level. I say back to $50 bc it was at one point at this high in it's lifetime. The way I feel about this is LTC is just about to breakout from it's all time high just like BTC did not too long ago. Now just take a look at how many % points BTC has moved since it's all time high  , I feel that LTC will mirror that same path throughout the summer as segwit2x is released. My suggestion is if you are not in LTC as you read this post, it would be a good idea to stay out until the price stabilizes (1 week or so). I am not in LTC but I feel the oppposite way. If I don't get it now when the price is "stable" at 25-30 I'll again cry when it gets to $50. Yes! Even double is more than enough for me to feel good. |
|
|
|
|
Hmm first time I read a bad review about JAXX. But this just goes to show you gotta keep your own backups/seed/private keys. Whatever happens to any wallet, you can always import private keys and you're good.
|
|
|
|
Doesn't seem to be correct. I thought segwit2x means yes, segwit first, but then LATER 2MB block increase aka hard fork aka chain split? Or did I misunderstand it all along? Time to hit the books again. |
|
|
|
|
I know most of us will claim to dislike the idea of a crypto bank... but in my experience, people new to Bitcoin will be very afraid of the idea to keep their own seed or private keys or even wallet address. My family for instance always ask me "what is my email password again?" and every time will lock themselves out because of wrong password.
So I know they would rather create an account somewhere for someone else to keep their crypto safe.
|
|
|
|
The "emergent consensus"-supporting miners can support Segwit as well, most of them are doing it supporting the Segwit2x proposal. "Emergent Consensus" is independent from Segwit, it is simply a mechanism that allows miners to signal for block sizes they support (also known as "Bitcoin Unlimited").
The most likely outcome is that we will have Segwit activated in July. Then a large part of the miners (about 80%) will signal for a 2MB hardfork which will occur in December, as far as I know. It's up to the Core developers to support that hardfork or not. If 2MB are supported then we will have a pretty smooth upgrade. If not, then this may result in a chain split.
My initial math was wrong as there are some pools that support both versions of Segwit. But from the last 50 blocks, more than 90% (47) are supporting Segwit2x or Segwit-BIP141. You can see it in the list at the bottom of the coin.dance/blocks page.
In summary, what we understand will happen for sure if the current trend is continued is that Segwit will be activated next month? I wonder if the improvements after that will change anyone's mind about what happens post Segwit. |
|
|
|
It's not good, it seems some people are switching to Litecoin for retail payments, I like BTC a lot but I don't like the way this coin is treated... it's like it's left alone doing nothing about it and meanwhile lots of altcoins are trying to take over... BTC looks like a fat coin barely moving right now folks while whales are taking as much as they can on its back, it needs to be light and have speed... if something doesn't change after August 1 will probably consider other options as well, I've believed too much in one coin and missed others on the road
The reason other coins easily upgrade their protocols is precisely because they have less people using the coin so it's easier. When a coin gets on the level of bitcoin we'll see if it's as easy for them to get things done (and proof of Vitalik doesn't count btw) That's what people don't get. They seem to ignore that Bitcoin probably has the highest amount of work and discussion going on around the scenes, not like ETH which is led by leaders and people are happy to follow. I'm not saying ETH is bad but if everyone switched over to LTC or any other alt and see the same problems happening, they'll be left wondering where their devs are. |
|
|
|
|
That's a really good question now, especially if you accept that this so-called mainstream adoption is starting to happen. I see Bitcoin being asked on Twitter and IG a lot now, even as ads are found on facebook. People who have never heard it will now quickly understand crypto.
We saw all the new entrants this year. Imagine next year!
|
|
|
|
|
Nine days and seven hours ++ left and it is really quite amazing to see the numbers collected. Bitcoin = $1.1 millions. ETH = $0.85 millions.
Not sure the value of the others but from 2 cryptos is already 2 million. I am only able to invest about $100 maximum... so I will account for 0.005% of ICO oh well:)
|
|
|
|
What are the reasons, why people use Cash or Credit Cards / ATM / Banks?
* Work offline 100%
* No fees.
* Accepted for Food Shopping & Micropayments
* 0 confermations time
* 0 exchange risks
* anyone is able to understanding of the value of payment
Hard to ignore these benefits of cash, and this is true for the majority of the planet. But I think the core concepts of alternative cash, Bitcoin for example, is not really to replace cash but to open more access to things cash cannot do. * Cash cannot be easily or without risk be sent across countries or even cities. * I cannot confirm you have enough cash in your wallet to pay for a service. * I cannot guarantee if you send me cash you will take it back. * I cannot easily check to see if your cash is good, or guarantee my bank will accept your cash. |
|
|
|
|
I'll bet any time now if we were to make some study on data, Bitcoin-related crime would still be the lowest percentage of all currency crimes. Hope the Brooklyn guy knows how to track his stolen coin (yes, isn't that wonderful, unlike fiat you can track it from your computer at home).
|
|
|
|
|
You're kidding right? Bitcoin was/is heading south, but have you noticed today's 10% rally? 216 bitcoins? Seriously? You see exchangers changing that much bitcoins in minutes. One tiny drop in a huge ocean.
|
|
|
|
|
Not exactly completely dead for micropayments. Check out faucethub or moonbitcoin payments and other paid to click sites. They payout thousands weekly in the sums of 25,000 satoshi, which isn't very micro, but how else can you earn or pay 0.01 cents to customers?
|
|
|
|
|
The problem with clickbait is that it works. You can even add three exclamation marks to prove you're clickbait and the hits will still come to your page.
Even if he was right about crypto only being used for gambling and money laundering, online gambling has been the second biggest earner on internet (after porn) for 20 years now. He's ignorant for saying it has no business model.
Bitcoin user: Hey have you heard about Bitcoin?
Writer of clickbait: It's complete garbage!!!
Bitcoin user: Oh. Okay.
Writer of clickbait: Stay away!!! It's only used for gambling and laundering!!!
Bitcoin user: Actually -
Writer of clickbait: It's complete garbage!!!
|
|
|
|
|
Show Posts
