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News: Latest Bitcoin Core release: 27.0 [Torrent]
 
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1161  Bitcoin / Bitcoin Discussion / How Can Core Counter the Emergency Difficulty Adjustment of Bitcoin ABC? on: August 07, 2017, 11:33:42 PM
After the hard fork on Aug 1, 2017 both Bitcoin and Bitcoin Cash had the same difficulty. Due to the EDA built in to the Bitcoin ABC client difficulty on the Bitcoin Cash chain quickly ramped down to 144323701657.02 or 17% of Bitcoin current difficulty. The value will be even less when Bitcoin difficulty adjusts up in a few days. Once difficulty on the Bitcoin Cash chain drops to less than 8% of Bitcoin difficulty miners will be incentivized to switch mining to the Bitcoin Cash chain. How can Bitcoin Core prevent miners from switching en masse to mining the Bitcoin Cash chain?
1162  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 05, 2017, 09:27:52 PM
$3690 is a 1.618 Fibonacci extension a logical price for a pause or profit taking.

I'm ignorant. From $2280? Why?

Hope this helps. Fibonacci extensions drawn from most recent swing high to swing low.

https://bitcoinnewsmagazine.com/wp-content/uploads/2015/09/dailyfibextensions.png

Thanks. So the calculation is based upon 0.5 being the halfway point between the local high and the local low?

Subtract the price at swing low $1830 from previous swing high $2980 to get $1150. Multiply $1150 by 1.618 to get $1860.7. Add that $1860.7 to the $1830 low to get the 1.618 first Fibonacci extension of $3690.7 then repeat for the higher extensions.

This is Bitcoin! All this TA is useless. So many people were tempted to short the "top" and got REKT.  Why didn't you learn anything from past 8 years?


Shorting a bull market is tricky and one way novice traders lose money. It is easier to make money just going long in a bull market. If you look at a weekly Bitstamp chart for BTC/USD with a simple 20 period moving average bitcoin price has been above the 20 MA for two years. That is two years of a bull market where all you had to do to make money with bitcoin was buy when price touched a line on a chart, the 20 MA. Last time was last month when you should have bought under $1900.  
1163  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 05, 2017, 09:05:38 PM
Subtract the price at swing low $1830 from previous swing high $2980 to get $1150. Multiply $1150 by 1.618 to get $1860.7. Add that $1860.7 to the $1830 low to get the 1.618 first Fibonacci extension of $3690.7 then repeat for the higher extensions.

Got it. So why do people think it works? What is the theory? Empirical based on backtesting across numerous markets?

Fibonacci retracements and extensions are based on the Fibonacci sequence of numbers. The Golden Ratio 1.618 is found everywhere in nature and also bitcoin charts. Traders have been using Fibonacci for decades because it has been shown to work with markets. Back in January 2015 since I knew the bitcoin low was $152 at that time and the previous ATH was $1163 I could predict a possible future bitcoin price of $2798 from the 2.618 Fibonacci extension. Do you see how Fibonacci can be useful now? In this case it could have helped a smart trader avoid taking profits too early.
1164  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 05, 2017, 08:25:11 PM
$3690 is a 1.618 Fibonacci extension a logical price for a pause or profit taking.

I'm ignorant. From $2280? Why?

Hope this helps. Fibonacci extensions drawn from most recent swing high to swing low.

https://bitcoinnewsmagazine.com/wp-content/uploads/2015/09/dailyfibextensions.png

Thanks. So the calculation is based upon 0.5 being the halfway point between the local high and the local low?

Subtract the price at swing low $1830 from previous swing high $2980 to get $1150. Multiply $1150 by 1.618 to get $1860.7. Add that $1860.7 to the $1830 low to get the 1.618 first Fibonacci extension of $3690.7 then repeat for the higher extensions.
1165  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 05, 2017, 07:37:37 PM
$3690 is a 1.618 Fibonacci extension a logical price for a pause or profit taking.

I'm ignorant. From $2280? Why?

Hope this helps. Fibonacci extensions drawn from most recent swing high to swing low.

1166  Economy / Speculation / Re: Nights Watch by Afrikoin on: August 05, 2017, 06:05:35 PM
Watch $3690 level plus or minus 5%. Important resistance expect a pause or profit taking.
1167  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 05, 2017, 06:03:01 PM
$3690 is a 1.618 Fibonacci extension a logical price for a pause or profit taking.
1168  Bitcoin / Bitcoin Discussion / Re: So has Roger Ver dumped his BTC for BCC yet? on: August 05, 2017, 04:26:13 PM
I think Roger Ver still has a fortune in bitcoin left and except to help the fork get started would never sell all BTC for BCC. He is a smart businessman. Once BCC price is below 0.05 BTC he will start buying, increasing buys exponentially as cross rate drops. That would be the smart thing to do. He would not go all in until BCC looks on verge of taking over from BTC and we are early days yet. That's my opinion anyways but you know what they say about opinions.
1169  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 05, 2017, 01:51:22 PM
Interesting article on possible Bitfinex price spoofing.
1170  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 05, 2017, 01:54:20 AM
I think the miner that mined a block with one tx did so to prevent the difficulty from starting to adjust downward again. When the miners are ready to have difficulty reset they will coordinate and you won't see any blocks for a twelve hour period. Then BCH mining difficulty will start ratcheting down to the point mining BCH may be as profitable as bitcoin even at the reduced BCH price. They might wait 7 days until bitcoin difficulty retargets.
1171  Alternate cryptocurrencies / Speculation (Altcoins) / Re: To Buy BCH or not to Buy BCH? on: August 04, 2017, 09:38:42 PM
Hold on to the BCH you got airdropped. If BCH gets down to 0.05 bitcoin start buying with both hands. I expect a hard floor at $100.
1172  Alternate cryptocurrencies / Altcoin Discussion / Re: Why is BCH sometimes displayed as BCC? on: August 04, 2017, 09:33:53 PM
The client refers to Bitcoin Cash as BCC and the first company to have a mining pool (ViaBTC) does also. It seems the exchanges are mostly going with BCH while the client and ViaBTC are staying with BCC. They are assuming Bitcoin Cash will win out over Bitcoin and they may call Bitcoin Cash what they like. That remains to be seen still early days but what Jihan Wu wants he seems to get in the end. It was a really bad idea to let bitcoin mining get centralized in China but water over the dam.
1173  Economy / Service Discussion / Re: What about cloud mining? on: August 04, 2017, 09:21:54 PM
What about cloud mining? Is it profitable?

Depends on your definition of profitable. If we are talking bitcoin the most profitable cloud mining outfit is pool.viabtc.com in China. They charge $159 per TH/s for lifetime cloud mining using S9s. They have the lowest fees in the industry, such as it is, but one TH will pay you daily after fees average $0.65 (I have one.) That would be 8 months to ROI without price or difficulty increase. More like a full year. They also offer BCC cloud mining, which definitely is not profitable at the moment. You see a lot of shills for pool.bitcoin.com which is also pushing cloud mining; they have higher fees than ViaBTC so are not as profitable. Not surprising since their mining farms are in the US where power is more expensive. Both of those outfits are more profitable than Genesis Mining which has even higher daily fees.

If you want to play with cloud mining buy a TH or two at ViaBTC. You can switch from BTC to BCC if you like. However, if you are serious about making money mining you should be putting a GPU rig together and mining Ether at home. Here is a guide and good luck as many other people had the same idea and GPU video cards are hard to find.
1174  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 04, 2017, 05:06:22 PM
@cashodler brings up some valid points. Coinbase changing their stance on BCC was important. It is still early days. John Stuart Millibit wrote an article that laid out a scenario where BCC could take over from BTC in a matter of days, possibly in November if the 2 MB hard fork in SegWit2X is not honoured. Don't forget mining is still centralized in China which means to a large degree what Jihan Wu wants he gets. Smart investors do not bury their heads in the sand but gather information on both sides so they can make informed decisions. 
1175  Alternate cryptocurrencies / Altcoin Discussion / Re: What is a safe wallet for BCC? on: August 03, 2017, 08:30:50 PM
I dont now which part of the forum to ask but is there a safe wallet for BCC? I saw a wallet called Electron Cash which is based on Electrum's code but I dont know if its trusted software or not.

Mods please transfer this thread to the proper subsection of you need to. Ty.


Best is to use the full node Bitcoin ABC client if you have room for the blockchain. Be careful though, if you have Bitcoin Core already installed on the same machine Bitcoin ABC will overwrite it.
1176  Alternate cryptocurrencies / Altcoin Discussion / Re: Why bash Bitcoin Cash? It might be the future of Bitcoin. on: August 03, 2017, 08:16:45 PM
People are just afraid BCH will ruin the value of their BTC holdings and will do anything to resist it. But if they can see the whole picture they will understand BCH is good for BTC and their holdings.

Just hold your BTC and BCH and you will come out on top.


I agree with you but the million dollar question is when would it be advisable to start selling BTC for BCH? When hash power directed at BCH is greater than say 25%? There should be a metric to follow that is a leading indicator of future success of BCH.
1177  Alternate cryptocurrencies / Altcoin Discussion / Re: New release of Bitcoin ABC: 0.14.2 - Difficulty adjustment on: August 03, 2017, 07:59:21 PM
I noticed the difficulty adjust kicked in at 478577 and is now down to 225505642691.99. We are at block 478599 and the difficulty is constant. Is there a set number of blocks before difficulty begins increasing again or does it depend on hashpower?
1178  Bitcoin / Hardware wallets / Re: [ESHOP launched] Trezor: Bitcoin hardware wallet on: August 02, 2017, 03:55:51 PM
any news about when we can use bitcoin cash in trezor?

Check /r/Trezor.
1179  Alternate cryptocurrencies / Altcoin Discussion / Re: OK to wait another month to claim BCC? on: August 02, 2017, 02:16:56 AM
Am thinking of claiming my BCC later (not soon) is there any potential drawbacks?

My coins are in electrum and other cold storage.

To get the maximum BCH for your BTC you can't send any bitcoin from your Electrum wallet.
1180  Bitcoin / Wallet software / Re: [ANN] breadwallet, first bitcoin network client for iOS, first BIP32 SPV client on: August 01, 2017, 08:00:57 PM
Breadwallet has hinted they may support BCH probably with a different wallet app
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