I think he is looking at his monitor upside down
 It's now at about $7100. Looks like it will try to make a new all time high, or at least bump up against the $7800 resistence. It's sort of amazing, given the drama of the last week. |
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There was a rumour on zerohedge today that the reason bitcoin bounced back up from $5600 was some big hedge funds deciding that this was the time to buy bitcoin. See http://www.zerohedge.com/news/2017-11-13/mysterious-bitcoin-dip-buyer-identifiedWhile this big money moves in (perhaps stung that they missed out the $1000 - $7000 rise this year), bitcoin's price is supported. What happens next depends on whether bitcoin's rivals can gain usage for their coins. |
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bch will not die and it will not go back to 300$
i think it will drop to 700 or 800 for a while
This. It seems to be stabalising at around 0.2 btc, and if it can hold at this level for a while, it survives. In the long run, it needs merchant adoption though. Despite the weekend's fireworks, merchants are holding back with a "wait and see" attitude. BCH will be a success only after merchants adopt it. If they don't then the big blocks are pointless. |
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It's not destroying it, it's making it stronger.
We don't yet have true competition in the cryptocurrency world, because a number of gatekeepers like Bitpay and Coinbase support Bitcoin only, which is what is leading to teh bottle-neck effect.
If they were simply neutral and enabled the top 50 cryptocurrencies in their service, then we'd see a real market as USERS would then vote with their wallets as to which coins they used.
We're seeing a little movement from the gatekeepers - for example Coinbase finally relented and allowed Ethereum and Litecoin in their wallers - which means that people do have the choice to convert to ETH or LTC to move coins with low fees (and then convert back at the other end). And Bitstamp allowed trading in ETH and LTC this year, after years of people asking them to.
Once the gatekeepers realise that offering flexibility benefits them and their users, we'll see a true race to be the #1 cryptocurrency and the whole space will be better for it.
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Unanswered service requests for months. They have dropped my withdrawal limit to 0 as soon as I started to withdrawal.
#431491 Pending verification
Any recommendations of legal action I could take? $30,000 at stake.
Thanks, Mark
Make an account on reddit, and then send a private message to https://www.reddit.com/user/Mike-Poloniex, who is an employee of Poloniex. Include your ticket number, date you made the ticket and details of what your isue is. (to send a private message, click "send a private message" on the top right hand side of the above url. Good luck! |
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Height
494,217
ViaBTC grabbed a 21 btc block with fees. I think the BTC only investors are underestimating Bitcoin Cash.
I have learned a couple of important things about investing.
1) Be agnostic and let the market tell you what is going to happen. Let the market decide. ( Don't impose your beliefs on the market)
2) The herd is almost always wrong. (ask yourself are you the herd)
Personally I am agnostic and hold an equal amount of each right now.
Also I think there is a strong possibility Bitcoin Cash will at a minimum, gain steady hashing power over the next several months. Lets see how the new difficulty adjustment goes from today's fork.
I know all the arguments for lightning etc.. but a 21btc block! are people going to wait for lightning? Perhaps BTC should be called Bitcoin Gold because it is only economical to move over 100 dollars in BTC due to the high fees. ( The mempool is going crazy.) BTC with high fees is ok with me, but it's only utility is large transactions and a store of wealth. This is ok too.
Ok you can bash me now.
Wow! Right there is why the miners have an incentive to keep a big mempool, because it forces up the fees and they make so much more money than if the transactions were being smoothly included in the blocks. However on the other side are the users. Only people with hardware wallets are forced to pay these fees. If you have your coins on an exchange, it's pretty easy to convert to litecoin or doge, send that, and then convert back at the other end. |
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Bjork could be one of the best examples of 'there are some scammers who do not know that they are scamming yet'. That's a phrase coined by Chris deRose to the describe some of the people in the scene who really think they are creating something good but are actually kidding themselves.
Audiocoin isn't a new coin though. It's been around since 2015. So this is quite different from a celeb making their own coin and premining and shilling to their fans. Lets see how this plays out. |
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In order for Bitcoincah to overtake Bitcoin, it needs merchant adoption.
At the moment powerful gatekeepers like Bitpay and Coinbase are supporting bitcoin only. Once they enable bitcoincash, we'll probably then get a chance to see the market at work where users choose the coin they like best. Until then though, BCH will struggle to take the #1 spot.
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There is a theory now circulating: Miners can quickly switch between btc and bch. If btc/bch goes down they switch to bch. Transactions pile up - and if it goes on for long then the price will go down even further (a positive feedback). It requires over 2000 blocks for the difficulty to scale down in btc (two weeks - more if the slow down is significant). In bch the adjustment happens every new block - so it will not suffer that much from those oscillations. (from https://pastebin.com/D09wHy2W) Sounds logical - maybe BTC needs to switch to a similar faster difficulty adjustment scheme. But if the price does not drop below mining profitability - then it should not be that bad - after BCH difficulty adjusts up miners will go back to BTC. It all depends on how users behave. Those who have their coins on the exchanges or in wallets like Xapo, will not be affected by the mempool backlogs. But those who have their coins in their own wallets are struggling with large fees and being unable to move coins. And businesses that need to move coins - such as remittance businesses - are also struggling. The fear is that if mempool problems persist, they will seek to use another coin to move money. It might be bitcoincash, it might be ethereum or another alt. Businesses tend not to wait, because they haven't got the luxury of saying to their customers, "just wait, your money might arrive next week sometime, we hope". |
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These surveys are kind of useless because the general public only knows what they read in the press. And the press has been keen to publicise the views of people like Jamie Dimon ("bitcoin is a bubble") but they never put the opposite point of view.
It's equivalent of doing a survey about what the public think will happen to the stock market. Most don't hold or trade stocks, so will be clueless and will just parrot what they heard on the news the previous evening.
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People like Roger Ver that want to lift on the succes of Bitcoin.
They are trying to substitute Bitcoin core by spamming the network and doing controlled pumps.
This will make BCH more profitable to mine, so a lot of core miners will mine BCH which slows down the transaction times of BTC network. This causes high transaction fees and basically and unattractive coin to use for micro payments.
Mining pools who are recently swapped to BCH to mine it when the bitcoin is the good rate. Because of the miners movement I see that bitcoin value started dumping in the chart and BCH is bumping but I think soon they will return to bitcoin. When they are mining bitcoin also they were getting the decent profit only. Really confuse that they move to BCH and bumping that. Stupid miners. , you may say they are short-sighted, but they are not stupid, i think if btc community cant balance the interests of all parties, such things will appear more than once This. They are mean't to be driven by profits, they arn't charities. Lots of the people moaning about them could easily start their own mining pools. No wait, they can't because it's too expensive, especially the electricity. |
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This is only the beginning. The emergence of bitcoin may have the most negative impact on the dollar. In many countries people used to keep their money in dollars. The local currency is too weak to store savings in them. Now people prefer bitcoin. All released dollars will begin to put pressure on the US economy. 6-8% inflation is just the beginning of this process.
I disagree. If you look at dollar charts, it spent 1980 to 2014 falling in value against other currencies. Then in 2014 it started rising and has continued that way. That means the dollar is getting more valuable. Bitcoin really poses a threat to the currencies of the weak countries in the world - Venezuela, Argentina, Zimbabwe, those are the places most likely to adopt it. The dollar will be one of the few currencies unscathed by it. |
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Nope, it's not over. The mempool is still over100,000, see https://jochen-hoenicke.de/queue/#24hAnd people stuck within the mempool, having paid a high fee and still finding their transaction unconfirmed are getting disillusioned. The longer this goes on, the more disillusioned people there are. And the more disillusionment, the more likely that these people will write off bitcoin and move to an alt. |
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It WAS in a bubble when it was pushing $7900. It went up just too fst.
But if it consolidates at $600 - $6500, the froth will be taken out of the bubble laying a foundation for a push higher But it needs to stay in the $6000 - $6500 at least till the end of the year to form a platform for a further push upwards.
If it falls below $5000 we're in for a bear market.
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HODL tight! As soon as off-chain scaling gets implemented and Bitcoin futures start trading on CME, big daddy is going to the moon! Cream always rises to the top.
If you fold, too bad. Don't say you weren't warned.
People have been promising off-chain scaling for years on end. It hasn't materialised, As for segwit - hardly anyone bothers to use it. Scaling will happen - but it will happen in an alt. Alredy Ethereum does more transactions per day than bitcoin. And all the other alts are waiting in the wings, such as Monero, Bitcoincash, and others. |
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Anyone have the latest count on unconfirmed transactions?
It's about a 100,000 and it's come down a lot. See the following graph: https://jochen-hoenicke.de/queue/#24hNote that at 7 p.m. GMT BCH does it's consensus hardfork to adjust it's difficulty adjustment. Their difficulty should drop which should see some miners switch back to them. |
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There is a massive backlog in the mempool. Some exchanges like Gemini have even paused withdrawals because they say there's no point doing anything now unless you want to pay huge miner fees.
Bitcoin isn't usable at the moment, and I'd recommend keeping some other coins at hand in case you want to spend and need to send money quickly and cheaply.
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Bitcoin Cash hard fork will be launched in 1,5 hours. From that point it will be profitable again (more profitable than bitcoin) to mine Bitcoin Cash. It is likely that at least a fraction of the Bitcoin miners will switch back to Bitcoin Cash resulting it even larger confirmation times for Bitcoin transactions. The new difficulty adjustment for Bitcoin is in about 3 weeks. It wouldn't surprise me if this 'mess' will last untill that moment.
Careful - we don't know just how this fork will play out. It's supposed to smooth the difficulty based on blocktimes for the last 144 blocks. And it smooths it block by block which means it could take a day or do to adjust the difficulty. |
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