There seems no exchanges that supports EOS has a New York license. So New Yorkers can only use Coinbase which does not support EOS?
I think you still can buy the EOS token on bitfinex and Kraken, trading EOS are available on there, you can make investment in EOS on there I got this from Karken: ------------- Your Kraken account has been confirmed. You can log in here: https://www.kraken.comUnfortunately, we cannot offer our services in your area at this time. We are working hard to complete our regulatory compliance in your jurisdiction to offer our services in your area soon. --------------- When I do a google search, I found articles saying that they stopped serving New York because of licensing issue. Same for Bitfinex. but you must becareful because actually peoples from US be banned to contribution in EOS and making invest in EOS token is dangerous, EOS token is useless for now and for in the future we can see on their FAQ. https://eos.io/faq.html , i don't know if bitfinex and Kraken doesn't support for people from new york but you can trade on there. Yes, some did say that EOS is useless. That is why I'm still in a research stage. |
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I have to admit - the BCH hashrate I stated here is wrong; it is only from the viabtc pool. The actual hashrate should be much larger. Sorry, My bad!  Right now, they are struggling with profitability issue because the difficulty setting is too high. But I do not know how they going to solve the profitability problem without compromising the block solving time and the coin supply. Currently, it takes about 10 minutes for both the BCH and BTC to solve a block (regardless of how many transactions in it) and the difficulties is adjusted accordingly. Since the price of BCH is much lower, the BCH miners will need to get the reward from the 7 extra mbs of transactions to make up for the profit. Again, very sorry for the wrong numbers!! |
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There seems no exchanges that supports EOS has a New York license. So New Yorkers can only use Coinbase which does not support EOS?
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Correction: The observation below was based on ViaBTC mining pool only.
I have been observing the BTC and BCH price and the hashrate all day today and I found this interesting correlation between BTC and BCH:
BCH has about 6% of hashrare of BTC and so as its price to BTC' price.
The prices of BCH and BTC are about $210 and $3234, respectively, at this moment. Whereas the hashrate is 24 petahash for BCH and 378P for BTC. Both of the price and the hash ratio are around 6.3% to 6.5%.
Let's see if this ratio relationship, BCH price/BTC price = BCH hash/BTC hash, will continue to hold for at least a few days.
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I'm wondering how you got that thinking on your mind, pretty interesting!
I posted this on #223 above: The reason why Yahoo was picked is because its news came out at the time this thread was created. The news reminded me about Yahoo and how it failed to maintain the leadership in its industry because of lacking of improvements and innovation. That is also possible if we people doesn't care much about bitcoin and investing on altcoins. Even don't try to move towards bitcoin cash also. If you have enough fund to invest please try to invest on blockchain
In one day, when the system of Bitcoin can't provide supply coin for the community user on the world's, it will be replace by any altcoin after it in this time, because just have 21,000,000 coin for supply for us, so need have a way fix this issue.
I thought the fixed supply is a good thing? It is deflationary and does not lose value like fiats. In term of the BTC distribution verse the world population, it is not a problem at all. Each bitcoin has 100,000,000 Satoshis. 21 millions bitcoins have 2,100,000,000,000,000 satoshis. Even if we have 10 billions people in the near future, each person could have 210,000 satoshis. |
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it does not matter now we have big blocks BCC
and segwit BTC
take your pick...
debate over.
I take both. Why not keep the other one if they give it to you for free? I take whatever which is profitable. I read somewhere Satoshi Nakamoto, the father of bitcoin didn't agree with Segwit and he was opposed it. is it true? If yes Does it mean he agreed with Cash?
Where did you "read somewhere" about this? SOURCE?! Don't just claim you read about something Satoshi said recently when he hasn't said anything since 2010. Literally no one knows who he is yet you claim to have some kind of inside knowledge. Lol... no, just no. He may have posted one post here and there and still be a newbie. Satoshi may have chosen 1mb for a block concerning that the blockchain size may get too big over time as for every 10 minutes a block is created. But we cannot really know what he actually thinks. The world changes consistently at a very quick pace and it is really hard to predict what will happen in the distance future. He may have not anticipated the large demand right now which causes the transaction process to be this slow and transaction fee to go up like this. Years ago, people would think that the fees would be in pennies. If he is still around, he would continue to enhance and to protect Bitcoin with or without block size improvements. His main mission was to create a decentralized cryptocurrency which can replace fiats one day and to remove the influences from the federal banks. The block size debate is insignificant. Of course he did. That is what i would do. One can imagine the amount of private messages people sent him and he got fed up... or something like that. Would you be the one, "The One"? |
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I read somewhere Satoshi Nakamoto, the father of bitcoin didn't agree with Segwit and he was opposed it. is it true? If yes Does it mean he agreed with Cash?
Where did you "read somewhere" about this? SOURCE?! Don't just claim you read about something Satoshi said recently when he hasn't said anything since 2010. Literally no one knows who he is yet you claim to have some kind of inside knowledge. Lol... no, just no. It is so very possible that Satoshi could have created a new account using a different name fo the past 7 to 8 years on this forum just to see what others have discussed. He may have posted one post here and there and still be a newbie. Satoshi may have chosen 1mb for a block concerning that the blockchain size may get too big over time as for every 10 minutes a block is created. But we cannot really know what he actually thinks. The world changes consistently at a very quick pace and it is really hard to predict what will happen in the distance future. He may have not anticipated the large demand right now which causes the transaction process to be this slow and transaction fee to go up like this. Years ago, people would think that the fees would be in pennies. If he is still around, he would continue to enhance and to protect Bitcoin with or without block size improvements. His main mission was to create a decentralized cryptocurrency which can replace fiats one day and to remove the influences from the federal banks. The block size debate is insignificant. |
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The answer is simple : They know a lot of people are going to dump BCH now and the price is being pumped by the BCH supporters in the beginning. When all the hype has passed and everything has been dumped, BCH will trade at much lower prices and they would not have to take such an huge knock.
I predict that BCH will be trading at between $20 to $80 per coin soon and that would be manageable for most exchanges.
They took the safest option to protect their business and to see how successful BCH will be, before they step in to reap the trading fees.
I agree that the price of BCH will drop to double digits by the end of the year. However, they will continue to survive as their hashrate is 25% of what BTC has - even tought that % diminishing a lot through time and it also depends on the total reward the miners can receive. In the longer term, the price might go back to low triple digit from general acceptancy by the exchanges and investors. Roger Ver may start to promote BCH to become a broadly accepted currency like BTC. By the way, everyone were thinking that Coinbase will start to support BCH at the end of the year, but it may be or may not be true. Coinbase said "by" the end of the year and not "at" the end of the year - which means that it may happen any time before the end of the year. They said that to allow themselves more time to test their platform with the new coin. This experience will be very benefiticial to them as they can anticipate the next coin split better in the future. |
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I believe the rest of the exchanges will try to help Bitcoin Cash get traction by not opening their exchanges for BCH deposits to disallow people to dump their coins. It is also in their best interest because if a coin dies that means lesser profit for them. BCH/BTC has the potential to be a volume heavy trading pair.
Not sure if the exchanges will purposely do that, but I do not mind that idea. I do not like the idea of splitting Bitcoin because it create uncertainty with high risk. But what's done was done and, right now, I rather to see it survive with high value. |
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Well the altcoin market has blown up and many altcoins offer more to users than bitcoin does from smart contracts to real anonymity to real world apps. The question is whether or not bitcoin will always retain its market share as the first coin without innovating further on the protocol.
In order for Bitcoin to retain its leadership as a cryptocurrency, it needs to be able to process a lot more transactions than what the to be implemented Segwit can process. It needs Lightning Network or some other technology. It needs to have very low transaction fees to allow people to buy a package of gum without paying transaction fees that is more than the value of the gum. |
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I had not thought about it much, but as soon as I saw your thread I looked up the stock price for Yahoo. It closed yesterday at $48 per share. I think that Yahoo, while you may have picked it for a different reason is a really good example about future Bitcoin. Most people talk about Yahoo in reference to a failed business, how Yahoo has a search engine started out at the same time as many others and is virtually gone.
The reason why Yahoo was picked is because its news came out at the time this thread was created. The news reminded me about Yahoo and how it failed to maintain the leadership in its industry because of lacking of improvements and innovation. Cannot believe that it would take 15 to 16 times of the current gold supply in the world to pay of the current US debt. |
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I just got this in the email. Here is an excerpt of the most important message in the email:
"Over the last several days, we’ve examined all of the relevant issues and have decided to work on adding support for bitcoin cash for Coinbase customers. We made this decision based on factors such as the security of the network, customer demand, trading volumes, and regulatory considerations.
We are planning to have support for bitcoin cash by January 1, 2018, assuming no additional risks emerge during that time.
Once supported, customers will be able to withdraw bitcoin cash. We'll make a determination at a later date about adding trading support. In the meantime, customer bitcoin cash will remain safely stored on Coinbase."
Hopefully, the value of BCH will sustain even though it is unlikely.
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I agree with a bit of what you said since and the combined value does add up to around 3K, didn’t think of it that way. Maybe Bitcoin cash will grow when bitcoin drops but I doubt it since Bitcoin cash is just an alt coin and nothing special. I will predict that a pump happens to Bitcoin cash with all this hype and then when people realise the truth the coin will starting dropping and will probably drop to 200 or somewhere like that.
An interesting event, especially with all of the FUD and hype, but it was a shame it didn’t really do much.
I believe the reason why the BCH has its higher than expected value right now is because that many people cannot sell them due to exchange restriction (such as from Coinbase) or problem in the selling process. Once people have access to their BCH and once people can freely sell their BCH, I would expect its price to drop significantly, and maybe, to double digits. |
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Yeah, I think Yahoo and Bitcoin have same similiarity, early birth people underestimate about them. But time will tell what happen because they are pionier and have superiority in market. But I still don't see the "competitor" show up in next couple years.
A real competitor will be hard to come by because Bitcoin has already established some acceptances by people and countries. But if a coin, such as Litecoin for example, which can process transactions quickly and with very low fees (and allows very low cost microtransactions), it may also starts to gain acceptance. Once that happened, Bitcoin may be replaced partially or mostly (but probably not complete). By the way, thank you for writing your first post on this thread.  |
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I agree that Coinbase shouldn't be held responsible for supporting BCC since they were very early and clear on their position. However, there is an argument to be made for those trying to get their coins out and transfers taking multiple days. I don't believe it warrants legal action but jeez... transfers taking over a day is crazy.
I am not a lawyer, but the fact that it might take multiple days to complete the transfers may be the main "selling" point on what the class action lawyers will be shooting for. After knowing that many transactions were delayed, some customers at that time may be afriad to execute the transfers afterward because of they were afriad to have their coins stuck in the middle when the fork took place. |
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If he said that he was just about to go with BTU then it was only for it. But who knows on what he's about to do. He's been doing things and push something that he thinks will support him by the community. Why he doesn't want to stick with bitcoin so that everyone of us will live happily ever after and it will never end.
He has been trying to create a new coin out of Bitcoin as he was very unhappy about the Core community not willing to increase the block size. As BTU did not work out, BCH is his next chance. I thinkg he is a very happy man now. Not only did the new coin plan get realized, he has probably been selling his BTC to exchange for BCH at a 1 to 10 ratio. I wonder the BCC or BCH? which is the correct abbreviation, or both are correct.
BCH is the correct one. BCC is the symbol for Bitconnect - which is currently ranked around 13 in market cap now. This correlation might be true now but will only be lessened as time goes by because after all, bitcoin cash isn't really anything more than an altcoin airdrop. Bitcoin and Ethereum probably has an inverse relationship as well because there is only this much investor funds available in the crypto scene. Bitcoin cash is not different.
Logically speaking i can see why this correlation is true, so don't get me wrong. Thereotically, yes, bitcoin cash + bitcoin = actual bitcoin value pre-fork. But practically it is quite different. Bitcoin cash has now risen by 70%, whilst bitcoin has only dropped by 3%. If what you said was true, then bitcoin would have dropped by at least 10-15%.
Yes, the correlation only works in short term - very short. Right now, the combined values is $3500. I did not expect the BCH price can go so high! I am not 100% sure, but I read that these miners (mainly Bitmain) who departed from BTC and going into BCH is about 20% to 25% of the pre-folk BTC harshing power. If that is correct, then these miners would equal to about 1/4 to 1/3 of the current BTC hashing power. If we based the price on the hashing power, BCH might end up with 25% to 33% of the BTC value. (Notice that there are a lot of "IFs" in here.) |
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Who said this? A businessman will always be wise as a businessman. Why would they gamble their thousands of bitcoin for this new creation? It's just odd that they will let their profit go into the thin air, no way they won't do it. Probably they will but maybe 10% of their total bitcoins.
Actually it was Roger Ver himself who said that first: https://cointelegraph.com/news/roger-ver-i-will-sell-my-coins-to-buy-more-useful-bitcoin-unlimitedAlthough he was referring to BTU, I believe he is doing the same for BCH - specially when the pushing for BTU has not worked out (yet?). I read from an article or blog somewhere this week that he can others will sell Bitcoin to buy the BCH. The article did not mention how much they will sell though. You were right that a rational businessman will not take that kind of chance and would understand the meaning of diversification. |
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I do not believe the current BCH value will sustain in the long term. The reason why it is at around $300 right now is because Roger Ver and the team are pumping it up with the money they got from selling BTC. As I have mentioned, after that capital is used up, the bumping will stop and the price will drop - probably no more than 3% of the BTC value. Currently, it is easier to sustain the $300 price mark because that the market cap is still small.
Unless people started to accept and use it as currency like BTC or something major happen, that will be a different story.
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It seems like, at least for right now, the prices of BTC and BCC combined are higher than the price of the BTC before the fork. It would be good if all exchanges are supporting BCC so that Bitcoin holders can benefit from the fork.
Higher than before the fork? You can't seriously look at Bitcoin from that point of view. Bitcoin at current levels is just 10% shy of its previous all time high. Add that this period has been pointed at as being quite volatile due to the given circumstances. Give it some time, and Bitcoin will blast through the $3000 level this month, no doubt about it. Regarding BCC, most exchanges and services will end up listing this altcoin. But the thing is that Bitcoiners will only end up taking advantage of this fork just once. Some people will look to liquidate BCC at the very start, where others prefer to wait for BCC to recover in price. When I said "before the fork", I did not mean the peak price, I was referring to the price like last night or something. I am reposting this from a thread which I just started to try to answer some of the questions people raised in this thread (notice that this is just from an average Joe's opinion): It looks like BCH is here to stay. For now, it seems that the combined value of both BTC and BCH is, consistently, around $3000. When BTC goes up by $50, BCH goes down by $50 and vice versa. Not sure how long this relationship will last. I do not mind for my exchange to sell off BCH now in exchange for more BTCs.
They said that Bitmain and Roger Ver were going to sell off their bitcoins and put the money into BCH after the fork and they are probably doing it right now. That is why the price of BCH is sustaining at this moment. Once they run out of the capital from selling bitcoins, the price of BCH will probably drop. |
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It looks like BCH is here to stay. For now, it seems that the combined value of both BTC and BCH is, consistently, around $3000. When BTC goes up by $50, BCH goes down by $50 and vice versa. Not sure how long this relationship will last. I do not mind for my exchange to sell off BCH now in exchange for more BTCs.
They said that Bitmain and Roger Ver were going to sell off their bitcoins and put the money into BCH after the fork and they are probably doing it right now. That is why the price of BCH is sustaining at this moment. Once they run out of the capital from selling bitcoins, the price of BCH will probably drop.
If BCH made it and survived with a decent price, that would encourage more similiar Bitcoin split in the future - which is not a good thing in my humble opinion.
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