people have gotten too comfortable with valuations that still make zero sense even after 90%+ falls. i scroll down coinmarketcap shaking my head.

https://twitter.com/BitcoinTre/status/1025459485714919427

speak of the devil.

he's been subpoenaed to speak to the SEC. looks like things are rolling into action.

the one i'd really like to see nailed is that little asshole cryptonick. and of course whoever is behind the whole thing.

In 2013 that would definitely have been the case. these days i'm not so sure.

if bitcoin died from attacks or became too broken to continue everything else would take a huge hit and there'd be years in the doldrums but many of those coins would not be broken and the concept would live on through them. they would take the lessons that ended bitcoin on board and make sure it didn't happen to them.

bitcoin is the reference coin for all alts when it comes to trading and pricing. i don't believe an alt could ever take that place. i do believe a fully legit USD pegged token could.

i timed my dumps well and i have over 1 BTC to show for the forks that most people have never heard of. i would have missed out on most of that if i'd had a segwit address.

lightning may well not strike again but if i'm not a regular transactor then i'd rather pay a little more in fees for that one transaction out of my legacy address and leave my line cast just in case.

all anyone has to do is move their BTC out before doing anything fork related.

maybe the big and unknown decider is how traditional markets and institutions decide to treat the various coins.

they may decide bitcoin is it and everything else is of less interest to them. in that case there'll be a two tier market. or they might decide everything in the top 20-50 is fair game. ether way they will have no interest in any coin's use as a currency.



this is wise. i might be inclined to put a small fraction into newer stuff but i would have the full expectation they'd be worthless when i came back. there are certain coins that aren't going anywhere no matter what but not many. i'd say 95% of everything on coinmarketcap will be dead and forgotten by then, maybe more.

those are both good calls. i would definitely consider monero.

anything exchange related i'd be less enamored myself. binance is only a year old. i expect exchanges to be run by massive heavyweights in a few more years.

i guess if binance can stay on top and ahead they'll be in with a shot but exchanges are licences to print money and that won't go unnoticed for long.

nope. a private key is a private key. it doesn't need to be connected to anything or update the blockchain for that to be accessible.

i've never used a core wallet so i wouldn't know what the problem with that is.

you're not buying into the good old 'anyone can spend' thing?. me neither.

however if you're interested in bitcoin forks, and there may well be others in future, sorting out segwit private keys has proven to be very problematic in certain cases.

if i was parking coins for a long time with the intention of picking up some future bonuses i'd stick with legacy myself.

you have a grand to spend and then you're off to a desert island with no contact from the outside world for five years.

which coins will still be alive by then and which will be thriving? as i'm on the conservative end of things i'd only go for bitcoin myself. in half a decade an insane amount will have changed.

what about you?

It'll take years before details take the place of hype when people weigh up whether to try a project.

Byteball had a little brush of hype. Now it's gone. If and when it does return there'll be a hell of a lot of cool stuff to justify it.

Said it before but I'll say it again, distribution should've been put to bed aeons ago.

This so far has been an object lesson in how to remove your momentum. Sometimes you can never get it back.

https://twitter.com/khannib/status/1024768218861330437

"One year after the fork ; of the 16.48M BTC that existed on the BCH fork date, 10M (61%) have moved since on either side of the fork. The rest is still dormant."

this is an interesting stat and one of the few that gives us a reliable clue as to how many bitcoin private keys are accessible.

i'm kinda surprised it's that high to be honest. of that remaining 39% how much of it do you think is parked waiting to be fired up and how much is lost? considering how many long term holders there are maybe there are fewer lost coins that some of the crazy high amounts thrown around.

maybe i should've made things clearer.

i'm talking about people who are already present in the crypto market who so far have only been interested in alts. there are plenty of them. i'd like to know if they're now starting to consider bitcoin as it's entering a stronger phase.

bitcoin dominance is on its way up. this is a pretty standard thing as the really speculative money leaves, but as time goes on and more big money has dealings with crypto you hear less talk of them having much interest in alts.

the latest of this is the guy from CME saying they have no interest in alt futures - https://cointelegraph.com/news/cme-will-not-introduce-altcoin-futures-anytime-soon-says-ceo  and if a bitcoin ETF ever happens, and it's a long shot, i can't see the SEC wanting much to do with the alt market when the bitcoin one is bad enough.

i expect the established alts to stay established. i expect most of the ICO junk to go away. at the same time bitcoin will be becoming more legit.

so how many people here have never had any interest in bitcoin and is that now changing?

total rubbish. ethereum and bitcoin have very little in common. they're aiming for very different things. neither will ever replace the other.

as for decentralization, i can easily believe ETH mining is way more distributed because of the GPU thing. but while it still has proof of vitalik it's a long way from decentralized governance. there is absolutely zero possibility of the DAO thing ever happening with bitcoin.

wut? a couple of years ago ethereum was 10 bucks or less. two and a half years ago it was less than a dollar.

ICO fever is now over along with ethereum's primary 'use case'. old highs may take a long ass time.

she's a noob though. and noobs take a while to get schooled. i think she has many valid points, especially the one about their duty being investor protection, but equally the SEC could tell her they're protecting people by not rubber stamping their exposure to bitcoin markets.

they're always gonna lean towards the conservative end of things so i reckon they'll wait until many other countries and organisations come up with investor options. it's the legal equivalent of amazon taking BTC. they're gonna let all the weird outliers do the hard work and they'll be the last to get on board.

uh, where's the FUD?

it's written plain as day in an officially issued SEC document.

the reasons are clear enough and i can't see them changing for any other application any time soon.

it's the new 'china bans bitcoin' which became 'south korea bans bitcoin'. it's the gift that keeps on giving. i'll bet some of these wall st guys make their own applications just so they can keep on being denied to spook people.

i don't believe any of these applications will pass. it's going to take many years to convince the SEC to rubber stamp something like this.

https://www.reddit.com/r/BitcoinMarkets/comments/91z04r/daily_discussion_thursday_july_26_2018/e33dchi/

summary there. none of them are gonna pass.

read through the decision regarding the Winklevoss rejection today https://www.sec.gov/rules/other/2018/34-83723.pdf

the same applies for any ETF. all applications are toast as far as i can tell. no one can route around these fundamental objections in the near future. i would guess an ETF is many years away, if ever. don't forget the first gold ETF took something like 7 years to get approved and that's a breeze in conception compared to this.