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1541  Economy / Service Discussion / Re: Did anyone buy from coinsclone on: May 22, 2019, 01:46:17 PM
Apart from what above posters said, noobies "running" an exchange are going to face times where they need to cover expenses but don't have the funds to do so. What's the easiest way to cover expenses then? Right, take a cut out of people's funds they trusted you with. Or what if you need money in your personal life?

People who haven't dealt with large sums of money shouldn't event attempt to do so. It creates problems.
1542  Bitcoin / Bitcoin Discussion / Re: What are your unfashionable Bitcoin opinions? on: May 22, 2019, 11:32:38 AM
the hope/hype of segwit making transactions cheaper was false promise. remember 2015 first mentioning the path to segwit. people were discussing the subpenny/10c area.    now with segwit people are discussing 25c/$ area and those segwit lovers are really trying to promote fee wars of pressurising fee' UP
How is it false? The price outperformed every bit of scaling progress, which isn't the fault of Segwit.

so tell me as unfashionably or fashionably as you like. what is your reason for hoping for more segwit adoption. what benefit of say 4mb of hard drive space do you think 100% segwit adoption would give. compared to 4mb of hard drive space using legacy
Segwit is the only way to actually get us to somewhat scale. Never say never of course, but with how distributed the nodes are, and the lacking will to even tempt a large enough percentage of the node operators to upgrade to the latest versions, how do you expect the 'legacy block space' to reach that 4MB mark? We're stuk at 1MB and we might stay stuck at 1MB for much longer.
1543  Bitcoin / Press / Re: [2019-05-21] Argentina: Bitcoin Bought at $20K Retained More Value Than the Peso on: May 22, 2019, 10:36:02 AM
And if they'd bought dollars they'd be even better off. How wonderful.

It's time Bitcoin fans stopped straw grasping at pathetic and twisted stats. It's really not an appetising look any more.

It's very subjective and time-frame specific. If we're talking about 2018 then sure, you're way better off hedging into the US dollar, but 2019 is completely different and we can't just discard that, else you're just cherry picking time-frames to fuel your own narrative.

The positive sentiment around Bitcoin this year is a big motivating factor to why people should buy into Bitcoin rather than the US dollar, and I'm certain that there is a lot of peer-to-peer trading going on in the background.

Look at Venezuela's volume boom this year, the growth in volume is insane this year; https://coin.dance/volume/localbitcoins/VES
1544  Bitcoin / Press / Re: [2019-05-20] Bitcoin Shrugs Off VanEck ETF Delay w/ Instant 5% Gain on: May 22, 2019, 10:24:45 AM
Regarding this ETF, some channel that I followed posted a message that says VanEck ETF might have a good chance to be approved according to one of his insider sources. But in the end, it got delayed again. However, I do believe that what he posted on his channel is still a potential rumor. I do believe that if this ETF will ever be approved, they'll likely do it in the most unexpected fashion.

Insider sources? You've got to be kidding me. His only INSIDER source is his gut feeling.

One doesn't need to have an "insider source" to figure out that the Vaneck proposal is the most solid one out there, but the ecosystem itself is so messed up that the SEC just doesn't care what they do or say. Give the market a few years to improve and shake off toxic exchanges/entities and we'll be a major step closer.

Bitcoin hasn't given a shit about an ETF. If it pumps, it will pump beyond the moon without anything fundamental justifying it.
1545  Bitcoin / Bitcoin Discussion / Re: What are your unfashionable Bitcoin opinions? on: May 22, 2019, 09:52:28 AM
I would have preferred to see more Segwit adoption, which to this day still hovers around 45%. Good news is that Binance is looking to make the switch hopefully this year, which means that they'll easily push it over 50%. More good news is that Binance is a trendsetter, so this will definitely motivate other exchanges to follow.

I'm quite happy with the rest. Stable hashrate. Upwards momentum in the price. Block halving coming up. Lightning growing. Etc.
1546  Bitcoin / Bitcoin Discussion / Re: Happy Bitcoin Pizza Day! on: May 22, 2019, 09:39:18 AM
I guess I'll be eating pizza again today, and that while I already had a pizza this Monday (there goes my diet lol).

I'll hype up some people around me to eat pizza too, and I'll pay for them in Bitcoin. It's a good way to utilize the higher price on a very important day in Bitcoin's history.

1 regular pizza is ~0.002BTC (€14) and one day I'll be reminded that I paid 0.0018BTC too much.  Cheesy
1547  Economy / Trading Discussion / Re: A trader's diary - my Bitmex journey on: May 21, 2019, 02:02:39 PM
I have also head of Bitmex manipulating order books and have a lot of book slippage during volatile times.

Is the manipulation you're referring to their in-house trading/market making? It's pretty odd for sure, but I honestly believe that most exchanges trade against their users. It's unethical in my opinion because of the advantage they enjoy over the rest, and that in every possible way, but since there isn't much oversight from regulators, exchanges have all the freedom they need to continue doing this.

As for Bitmex having to deal with slippage, that applies to every single exchange in crypto. Bitmex's books tied to the main trading pairs enjoy the highest level of liquidity in the space.
1548  Economy / Economics / Re: The Continuous Printing of Money on: May 21, 2019, 01:28:41 PM
I hope Venezuela can recover, and other countries won't have the same problem.

We all hope for the best, but the governments in these countries don't ever undergo a drastic change in their fundamentals. Bad dictators get replaced by one of their buddies pretending to do things differently, then later on (when it's too late) people figure out that nothing has changed at all.

I would love to see them use Bitcoin as currency, but it's not even remotely capable of serving millions of people at the same time. The only option for now is to have a Bitcoin backed fiat currency, where there can't be more fiat units in circulations than satoshis in their reserves. The volatility shouldn't be that much of an issue with how their native fiat currency has gone through more of it than Bitcoin itself.
1549  Economy / Speculation / Re: SEC delays decision on ETF again on: May 21, 2019, 11:06:59 AM
Another delay by the SEC. However, Tom Lee's prediction of an all time high of $25k might become true on the day before the approval of the SEC's deadline day, October 18.
No ETF will be approved by the SEC in 2019 and very likely not even in 2020. We aren't even sure if Bakkt will manage to pull off a launch with how hesitant the CFTC is, and that with how the CFTC has been pretty loose with its approvals in the past, so don't hope for things that you can't exercise control over.

If anything, the odds of an ETF have turned against us more than ever before with plenty of volume manipulation, Bitfinex & Tether, etc.

I speculate that it might be the last of the delays.
Unless the proposal gets withdrawn and refilled.
1550  Economy / Speculation / Re: Another Bitter Critic: "Bitcoin Will be Zero" on: May 21, 2019, 10:43:52 AM
The worst ever shitcoin can't even go to zero, so how will Bitcoin ever go to zero? Cheesy

I think these critics are hoping to be right at one point, because hey, if you guess long enough, eventually you'll be right. They just don't get that even if Bitcoin fails and it sinks back to $100 or whatever, it will still serve a purpose. This virus can only temporarily be put to a stop if you cut off the world power supply, which isn't possible with how distributed the power sources are. Suck on that.  Cool
1551  Bitcoin / Bitcoin Discussion / Re: Less than 1 Year for Block Halving on: May 21, 2019, 09:50:16 AM
That being said, I wonder if institutional players see the halving as a major factor in entry. Halvings haven't had much immediate effects historically, so it has always been possible that they weren't the biggest catalysts to the bull runs afterwards.

It doesn't matter who we are talking about, everythinig that cuts in the rate of inflation by 50% is a big deal. Bitcoin was already hard obtain in large quantities (especially during bull cycles where people don't let go of their coins), but now less of it is flowing into the market, which means that more people have to compete for an even smaller pool of freshly minted coins.

The block halving will be calculated in before it actually takes place because of how smart money is front running the event. Whatever happens after the block halving is largely the result of more demand due to the hype because of how the price has gone up prior to the block halving. Retail money ignores what's going down or remains stagnant, but loves to jump in when the price has shown green for a longer period of time.
1552  Bitcoin / Electrum / Re: New electrum version detected as Trojan by Bitdefender on: May 21, 2019, 09:16:44 AM
I don't actually focus on downloading the latest version of any wallets that I'm using. As long as it's working well and it meets the security measures that I need, I don't usually update it.

Same here. I still run Bitcoin Core 0.16.3 (latest version is 0.18.0) which contains the most important fixes dealing with the bugs in the previous versions, which means that I'm good for now. I'll upgrade to the latest version when there is a worthy enough difference to upgrade for, which isn't the case yet.

Best thing is to run clients through https://www.virustotal.com/ to see how other antivirus software solutions react to it. In most cases you'll only see one or two positives, which are mostly false anyway.
1553  Bitcoin / Press / Re: [2019-05-20] JPMorgan: Bitcoin Surged Beyond Its Intrinsic Value on: May 21, 2019, 08:50:14 AM
According to JPMorgan, bitcoin may have gotten ahead of itself with its recent rally. In a note to investors, some of the bank’s analysts suggested that the currency had surged beyond its intrinsic value. This, they believe, is a similar situation to the 2017 price rise which preceded a devastating slump.

In other words, other institutions pumped the price of Bitcoin to levels JPMorgan doesn't feel comfortable averaging in. I like that.

Intrinsic value is in the mind of the beholder, and can be subject to change depending on the condition of the market. An overbought market today is tomorrow's missed opportunity. Get on board or cry yourself to sleep. With how there are plenty of platforms to short Bitcoin, you can actually put your money where your mouth is and short it, or else, gtfo.
1554  Bitcoin / Press / Re: [2019-05-21] You may need to provide a blood sample to withdraw btc from HitBTC on: May 21, 2019, 08:32:25 AM
Why do people even use this crappy exchange? It has been acting very shady for years now and people still subject themselves to these assholes?  Roll Eyes

The main purpose behind all these silly questions and requests for more information is that they hope you get sick and tired of this nonsense and drop your account with all the coins in it. I'm certain there have been thousands of people already who just left because the little funds they had in their account wasn't worth the hassle of potentially getting them back.

They are also faking trading volume. Their reported volume in the last 24H is $1 billion. Yeah right.  Roll Eyes
1555  Economy / Speculation / Re: Are We Going Back to $7,000? on: May 20, 2019, 09:32:19 PM
How can we really tell that it's real correction and just the usual happening in the market?

Can't tell beforehand.

I see a lot of selling going on as we speak (open up your exchange tab and see it happen live for yourself), and so far the sales are absorbed with little to no effort and we keep going back to that $8000 level, which is a positive sign in my opinion. The more people we see take profits right now, the easier the ride up will be when the rush continues.

I would love a revisit of $6000 (or even lower) so I can buy back lower, but the bulls have shown more strength than I initially gave them credit for.

Bitstamp's orderbook currently has a depth of +$80 million in visible buy orders, which is more than double of what it was before we started pumping, which shows that this increase isn't based on hot air, and this after the 5000BTC dump that took like $35 million out. This is very impressive I would say.
1556  Bitcoin / Bitcoin Discussion / Re: CBS '60 Minutes' 5/19/19 on Bitcoin. Will it cause FOMO or FUD? (Take the Poll!) on: May 20, 2019, 09:12:15 PM
The piece was so bland IMHO, that it did not hurt nor help btc in anyway...

Seasoned Bitcoiners are pretty demanding, therefore consider most news coverage and/or documentary fragments to be bland or non information, but for average joes this is completely different. Everything related to Bitcoin is new and exciting, and I'm certain that this documentary or whatever you want to call it will do good and even motivate people.

The first time I heard about Bitcoin was through a documentary and I can remember that I got pretty pumped after watching it. If even a slight percentage of the viewers of CBS's 60 minutes end up digging into Bitcoin, that's a massive plus. It means more adoption than we had before the documentary, which we can't complain about, right?  Cheesy
1557  Bitcoin / Press / Re: [2019-05-16] Bitcoin and Blockchain: The Tangled History of Two Tech Buzzwords on: May 20, 2019, 08:46:40 PM
Right now, there are now many different versions of the blockchain and I expect a lot can be introduced years from now.

Many versions of centralized databases you mean.

Crypto as a whole has deviated from its main purpose, to something that appeals to idiots thinking that the blockchain is a wonder pill that will transform this world for the better. I knew the blockchain ecosystem sucked hard, but it has gotten so much worse with how investors throw money left and right just to have their capital sit in something with blockchain in its name.

The internet boom resulted in innovation, practical uses, etc. The blockchain boom is a fools game that will result in a bad ending.
1558  Bitcoin / Press / Re: [2019-05-18]eBay Refutes Rumors of Supporting Bitcoin Payments on: May 20, 2019, 08:25:01 PM
I have no idea why Ebay spent money on those banners. What an utter waste of time and expenditure. 

Didn't you notice? It was a big thing in the mainstream media, that's why they spent money on these ads. It's called marketing.

Where else can you reach world wide exposure for an amount that's probably well under a tenth of what they usually would have to pay for the same level of exposure. I'm sure they'll do it again next year and yet again claim that they have no plans to work with crypto in any shape or form.

People want to see the Ebay's and Amazon's of this world dive into crypto, and that's what Ebay used in its advantage.
1559  Economy / Exchanges / Re: Why are people rushing to buy the IEO at Binance? on: May 20, 2019, 02:11:45 PM
The only reason I could see BTT pumping would be due to the platform being widely known(BitTorrent). As a token though? Ehh. I honestly still don't see the point of using such token on a platform that's actually working well without a token. Also, it's running on Tron.. sooo...

Just the speculation alone is enough to pump it through the roof. The token comes handy in cases where frustrated leechers are looking for peers to seed their stuck torrents, which is quite a nightmare for older torrents, but with a token as reward it will help stimulating peers to show up.

It can also stimulate content creators, artists, developers etc to list their content on BitTorrent for a fair price which might help decrease the large amount of piracy that's happening. Another thing is that you can rent bandwidth from people looking to earn a some money. The token is just an incentive to unlock new possibilities that wouldn't likely be unlocked without it.

There is more potential in BTT than 99% of all the ICO's and IEO's that we have seen.
1560  Economy / Exchanges / Re: Coinbase could buy Xapo on: May 20, 2019, 01:32:32 PM
Coinbase already holds over 1 million BTC in custody, so with the almost 800,000BTC that Xapo holds in custody it will be a fucking time bomb.

This once again shows that people have lost their mind. For once you are able to actually own the asset and people are still like passing it off to a bank like entity to take care of it. It's so silly that you have to ask them if it's possible to withdraw your funds. Wait for the moment they tell you that you can only withdraw like 1-5% of your stack a day, that's when you'll regret having used them.

From the banking system where your fiat is locked up, now to crypto exchanges where your crypto assets are locked up. Nice. Lips sealed
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