But this idea that all Bitcoin 2.0 projects are fraudulent
Please, stop. There's no such thing as a “Bitcoin 2.0” project. Bitcoin is at version 0.10, and any project that works on top of Bitcoin but is not Bitcoin, should not be called Bitcoin. I will agree with the above statement. Bitcoin did NOT reach version 1.0 yet and it's still in beta. How are some people creating "Bitcoin 2.0" projects really makes me wonder.... Don't go full nerd about it. |
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As long as the top 1% hold 99.999% of the bitcoins in existence, we will never see $1200. When only the elites, the early adopters and whales, hold the coins, there is no utility to the coins. Just let the coins die. Bitcoin has become millionaire's toy. Even now, they are manipulating the prices, taking coins from the ignorant masses is just like taking candy from a baby.
the problem isn't only that, the problem is that there is also competition with other type of trading, like stocks/gold ecc, so many are forced to hold bitcoin while playing with those others kind of trading it safer to hold right now even for whales(they are probably playing with little money, notice the small swings...) On a downtrending market hedging some to fiat is not a bad decision. If you can borrow some BTC, short it. But like anything... keep your losses small. |
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So... the reason for you to call it a crap coin is because it has low volume? You gotta be kidding me. Yup. Because it means no one is interested in buying it. Now why is that? Maybe the team behind it sucks who knows... There's no marketing for the coin, no merchants.. Maybe there is, but it's not making a dent in the already saturated altcoin market. What about funding? How many months more do they have until they burn all their money? And who are the devs behind this coin? |
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It's the same security model that Ripple was initially advertised to have, but which didn't actually work in practice. The mechanism and conditions appear to be slightly different, and the requirements actually (somewhat) defined, but the fundamental concern remains.
I pointed out back in 2013 that the result of the OpenCoin Ripple model would either result in centralization or a total failure of consensus; and pushed them to formalize their requirements and to specify a procedure that might actually cause them to be met. They didn't. When Ripple was deployed the outcome was centralization, and when they repeated the experiment with Stellar the system spontaneously failed.
Just as with ripple back in 2013 the new Stellar proposal is unable to answer the basic questions about how we can know or guarantee anything about the security of the system. Mazieres and Vitalik describe it as leaving it up to the market and think it will work out. I think it would better be described as leaving security up to chance. And the chances don't look good: leaving it up to the users to ensure a safe and decentralized topology has already failed in practice with a highly similar system _twice_.
I pay attention to these things because I hope to see useful things invented and deployed (for their own sake, and so I can use them in my own project); I also pay attention because I'm concerned about blow-back. _Currently_ people are free to do what they want, here there is tremendous information asymmetry and a host of incentives which are at odds with the public interest (including the fact that the few people like me who can clearly see the problems, have every incentive to say nothing at all; much less enough to be anything but a reed in the wind against a massively funded PR effort); and these efforts raise problems across several domains of law. The result may well be some crazy efforts to regulate the space as a result, which would harm everyone.
I've been watching and waiting. nullc seems to = gmaxwell: https://news.ycombinator.com/item?id=9342348Time to move on. TLDR version? Too technical for me wee brain. |
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10 years to collect cheap ass BTC before the next rally goes x10 ATH, seems like a good plan to me and anyone that has a good understanding of what is going on. Good thinking... So it's in our best interest for BTC to go to double digits then. |
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Shorters will get their ass margin called within 30 days.  Exactly what I'm saying... This is the kind of thing a shorter would say or what shorters want people to be saying. They want the price to go slightly, giving them an opportunity to short higher. Well I'm a trader and I go both long and short but for now I'm legitimately long since ~215. My last short was at 250.2 But you are right about everyone on here having their own personal agenda.  Yup... |
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Shorters will get their ass margin called within 30 days. Exactly what I'm saying... This is the kind of thing a shorter would say or what shorters want people to be saying. They want the price to go slightly, giving them an opportunity to short higher. |
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... I think no one anticipated BTC's industrial mining to happen. ... ^that. Or, rather, no one wanted to consider the consequences. Tragedy of the commons  Yeah... That's always the case. Which brings me to another funny thought. We know that some people like to fud to bring the price down in order to get in lower. What if some people also like to hype in order to short higher...? That explains the all time high of shorts and all the hyping going around here. |
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All time high of shorts at Bitfinex. Does some big whale know something?  |
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edit and the falling price isnt hurting the hodlers lol, we are in it for the long temr so this short term manipulation is just a hitch in the big picture lol  It's hurting in the sense that it's making BTC look like an unattractive investment. It's hurting the miners, the small merchants who are willing to hold BTC and I'm pretty sure it's hurting the community as well because the mood is bearish. yep thats apparent from all the doom threads lol, Bitcoin has received a lot of smack from investors because of the depreciating value :*( those relying on Bitcoin for fiat value are getting hurt Those relying on Bitcoin for fiat value need to rethink their concept of "value". What we need is a Bitcoin-only economy, where producers, suppliers, merchants and customers all use BTC without fiat conversion. Then these problems will disappear. Current economic actors should explore all available options to make steps in that direction. Shorting Bitcoin will not work out longer term. Most of these traders will get burned sooner or later. Expect a violent upside movement when these shorts get squeezed. ya.ya.yo! It should start from the miners. But how can they maintain their operations without converting to fiat? I think no one anticipated BTC's industrial mining to happen. In a perfect scenario it's the people themselves who get rewarded directly by supporting the network using their home PC's. And who says the shorts are shorting for the longterm? They are just following the trend. And right now the trend is down. The minute that reverses they cover and make a little profit. |
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edit and the falling price isnt hurting the hodlers lol, we are in it for the long temr so this short term manipulation is just a hitch in the big picture lol It's hurting in the sense that it's making BTC look like an unattractive investment. It's hurting the miners, the small merchants who are willing to hold BTC and I'm pretty sure it's hurting the community as well because the mood is bearish. |
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Expect those shorts to get squeezed.
Not unless it's a dead cat bounce (again)... Which has become a pattern of late. Maybe this predictability made the shorts bet high this time? Once you think you found a pattern in the market, the market will turn around and screw you for most pain. ;-) That or some wise ass mother fucker is gonna manipulate the market to go down and is stocking up all his shorts for one final push (down). Either way, I don't care who's right anymore... The falling price is hurting everyone... Except the shorts. |
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And if you fancy yourself as an "investor", take your pick. Chances are it's a shitcoin anyway.
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A safe coin to buy is the one that has high volume and lots of bidders. So just in case you want to let it go, you have someone who's willing to buy it from you. The opposite is what makes it the most difficult market to trade.
So stay away from coins with low volume and low on the bid side.
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I actually thought Maid was going to continue its uptrend. It's seems to be going sideways right now and the volume is gone. I'll put it in my watchlist at best and wait.
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Odds are good that the price will go up.
well what goes down must come up lol, at the moment it would be suicidal for these shorters who are pushing down at the current range  Currently the graphs are looking realtively ok for a short pump as volumes are increasing and capital is flowing Lol.. is the volume during the short pump increasing for you? https://bitcoinwisdom.com/markets/bitfinex/btcusdIt's decreasing actually. It only increases when ever there's lot s of people selling off. |
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