Bitcoin Forum
June 16, 2024, 04:54:45 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: « 1 ... 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 [115] 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 ... 661 »
2281  Economy / Speculation / Re: Will the price of bitcoin be like a bubble, how do we react to it on: January 29, 2019, 10:19:14 PM
One of the disadvantage of having bitcoin was the volatility which we all ready know for past years and some said bitcoin was like bubble that could burst anytime but they were wrong. The price is pretty much manageable due to the bear market we had experienced last year, so my opinion would be still depends on market cycle of demand and supply.

Volatility is a disadvantage? The lack of that made the price tank hard because people stopped being interested in the market now it isn't going up anymore.

Volatility = high volumes = high interest = higher odds of seeing the price increase.
Stability = low volumes = low interest = higher odds of seeing the price decrease.

And btw, Bitcoin itself isn't a bubble, the price/market is because of people's greedy nature. We've seen the worst of the pop, might see some sort of a flash crash giving the most persistent "hodlers" the last push to unload. V bottom, double bottom, triple dildo bottom, whatever it takes, the last bit of air needs to go out.
2282  Economy / Speculation / Re: which way bitcoin price going? on: January 29, 2019, 09:57:50 PM
Dollar cost averaging is your friend. You will be happy in both the good times and the bad.

That's what I have been doing as well. It's pointless to fight the market and constantly wait for something to happen. Go with the flow and buy the market down. I don't give a single shit if it keeps going down, I'll buy it down till the bottom. By the time the price bounces back up again you'll be so glad you bought in, while a lot people waiting and waiting will end up opening threads asking whether or not it's a good time to buy at x price.

Just pull the trigger. There was no trigger back in 2017 where people couldn't be stopped from buying all the way to the $20,000 level, while right now people are too afraid to even touch Bitcoin. Roll Eyes

Split your free to invest capital in smaller parts and buy every 10% dip from here. Easy peasy.
2283  Economy / Web Wallets / Re: blockchain.com outgoing fee optimization on: January 29, 2019, 09:30:30 PM
Are you absolutely sure that it happened multiple times? I've been using Blockchain.com on a weekly basis for the last few months, and it works perfectly almost every time. Even with "standard" fee (about 3 to 9 cents), it usually takes hardly an hour for the first confirmation, and with "premium" fee, it usually takes about 15 minutes for the first confirmation.

Have you been using them repeatedly in the past few days? Has it been this slow every time?

It could be purely related to luck since you can't assure yourself a confirmation within x time frame even with a very high fee. If you look at the hashrate swings (and they are pretty wild), they do translate into slower block times every now and then, which results in more short term network congestion, and thus other users outbidding the fees that were approapriate at the time of sending.

In case there is some priority to it, I always use higher fees than recommended, just for the sake of being ready for unexpected congestion when blocks take longer to come through.
2284  Economy / Economics / Re: Will people ditch cash for cryptocurrency? Japan is about to find out on: January 28, 2019, 11:14:11 PM
The comparison to Visa isn't fair since they're comparing Visa's current volume to the potential maximum capacity of Mitsubishi's system. I'm sure Visa can do more than several thousand transactions per second.

I am pretty certain that if the demand is there, Visa could easily scale to over a million transactions per second. Reality however shows that you only need extremely high transaction throughput for like a week or two per year in total. In other words, you don't need outrageous throughput metrics. It's more like a selling feature rather than something that's actually providing much utility on a daily basis.

It's way more important to have your service be able to handle the daily use in a consistent manner, and to keep people using your platform, because the competition in the payment space is fierce. If you mess up too often, or a competitor offers lower fees, more rewarding bonuses for every purchase, you have a problem.

We'll see how this plays out, it's interesting enough to follow.
2285  Economy / Economics / Re: What's it like to live on crypto instead of Banks? on: January 28, 2019, 10:59:40 PM
Right now, Ripple (XRP) and Stellar are already the fastest cryptocurrencies in the world. On top of that, they're extremely cheap where it costs only fractions of a penny to send money around the world. What is needed is mainstream adoption, for cryptocurrencies to become a force to be reckoned with.

Nano is instant, has zero fees, has way more transaction throughput, and is scalable, and I'm sure that there are a couple more with similar specifications.

XRP is a shitbag that happens to be centralized. It doesn't take much for governments or even banks to compete with that. I am honestly of believe that the same banks they are partnering with, will end up forking them in the ugliest possible way. They don't need xCurrent or xRapid, it's just a matter of time before they do it themselves.

What makes the crypto currencies in this space different is that they are decentralized, some more than others, but you get the point. Decentralization is what makes crypto valuable, where centralized coins or tokens don't have any of these characteristics.
2286  Bitcoin / Press / Re: [2019-01-23] MIT: Researchers developed a more efficient cryptocurrency on: January 28, 2019, 10:25:06 PM
There are altcoins which are faster or more anonymous than BTC and they aren't taking over. The world doesn't work like that.

They compare what's happening here with what happened during the dot com boom, so it doesn't surprise me that they bring it like that. I have seen numerous articles where Bitcoin was said to be the next pets dot com, while they complety ignore how important Bitcoin's network effect is. That same network effect is helping Ethereum shake off competitors.

In the end, basically every useful feature that is providing some sort of fundamental improvement over what Bitcoin currently has, can be implemented.
2287  Bitcoin / Press / Re: [2019-01-25] New Zap Point-of-Sale App Enables Merchants to Accept Lightning on: January 28, 2019, 09:40:33 PM
The device price will be slightly under $200, a bit expensive but the device included Bitcoin Core, BTCpay server and Zap (obviously) which allow merchants to have full control over their money and based on the preview on twitter, it have good UI and UX.

It's not really that expensive. For that amount you get to skip all the hassle and time consuming tweaking, plus the fact that being able to accept Lightning payments is quite a powerful way to market yourself as business. It will definitely make you appeal to a new group of customers that you otherwise wouldn't have.

Bitrefill announced that their Lightning payments account for more transaction activity within their services than all altcoins combined do, which is quite a powerful indication of the potential we're dealing with here.

https://www.forbes.com/sites/ktorpey/2019/01/23/bitcoin-lightning-network-payments-have-already-surpassed-all-altcoins-at-this-retailer/#2c165d833992
2288  Economy / Trading Discussion / Re: More than USD 1.5 bln has been stolen from exchanges. Here’s a recap on: January 28, 2019, 04:49:44 PM
Most exchanges in this list are shit and you expect them to either get hacked, or have the operators take a run with people's coins. Where is Hitbtc? Has this garbage exchange never been hacked? Can't imagine they have not been hacked at one point. They probably just keep their mouth shut. Smart. Roll Eyes

It seems that Coinbase and Kraken are the only reputable exchanges with a clean sheet, but that's only if you discard the successful 51% attacks where coins were stolen as result. In that case you can add Bittrex to the list as well after the attack on BTG.
2289  Economy / Speculation / Re: Bitcoin $400,000 Says Investing Guru Mark Yusko on: January 28, 2019, 02:17:08 PM
based on the relationship among previous ATHs, we should hit six digits during the next bull cycle. that's only a 5x above the december 2017 high.

If we do hit the $100,000 level and we're still dealing with the same speculative shit market, the low could very well be in the 4 digit range. That will be a very painful correction afterwards, while technically the percentages are still more or less the same. Imagine where shitcoins will peak when Bitcoin booms, it will be a massacre like we have never seen before in terms of $$ value vanishing.

I wonder what the selling point will be for most of the OG's, because it surely can't be so that they are all holding their coins endlessly. Most people have a selling point, and that might very well be the next bull run. It's better for the market as a whole to get rid of these holders sooner than later.
2290  Economy / Speculation / Re: How much Bitcoin price Expected end of this year on: January 28, 2019, 01:40:04 PM
What's gonna happen by the end of the year is completely dependent on the large scale adoption as well support from government which leads to good news getting spread related to bitcoin. In this way possibly the price will reach around $5000 by the end of the first quarter and further the same will grow gradually reaching $10000 by the end of the year.

What support from the government are you expecting? ETF approval? There is only the Bitwise ETF left, and I'm sure that they'll be wiped off the table too.

Nothing will help the price bounce back up until we have found a bottom and most of the bagholders and get rich quick investors dumped their coins. I'm certain that even Bakkt won't do much in the near term aside from a potential mini pump that will be sold down by bots in a matter of days.

Poor volumes, lack of short term interest, continuous lower lows, this is what we can and should expect from a bear market.
2291  Economy / Speculation / Re: BTC To Under 100$ on: January 28, 2019, 01:09:29 PM
Right now people seem to be overly concerned and expect the price to tank hard (they speculate about a $3000 bottom, $2500, $1500, $1300, etc), which is reason enough for me to hope for a bullish move up.

That 200 wma is a very important support line we'll be dealing with a whole lot more this year. Bots pretty much use the past as a guide and the past was exactly like that; in 2015 the 200 wma was something we couldn't distance ourselves from for a long ass time. It was like a magnet pulling back the price every time it wanted to break out to the up side.

It's tempting to open a short, but on the other hand quite risky too at current levels with how thin the books are. We have had plenty of wigs to the up and down side liquidating shorts and longs so if I end up opening a short, I'll have it be at 2x leverage. Anything higher than that is gambling at this point.
2292  Bitcoin / Legal / Re: Report: In Indonesia legal Bitcoin is based on commodities on: January 27, 2019, 11:58:16 PM
In fact, in the past few years, every time a government's banned Bitcoin trading, it's only served to fuel p2p trades. I believe these bans have actually been a boon to p2p - if not for them, people may not have been motivated enough to seek out alternative routes. Good for everyone in the end.

Exactly. It also indicates that people aren't letting their government decide for them what to do, but actively look for an alternative way to conduct business, trade, etc. I like how easy it is with Bitcoin, because you only need a smartphone with an internet connection to participate in whatever economical activity.

The only downside to this is that governments slowly but surely start to notice how it's working against them, so they'll try to be more 'friendly' and regulate the centralized ecosystem rather than outright shitting on it. Seriously, it's way easier for governments to gain control over people by regulating the market in a friendly way than being so hostile and ban everything left and right, lol.
2293  Bitcoin / Press / Re: [2019-1-27]Apple Co-Founder Steve Wozniak Declares He Sold All His BTC Holdings on: January 27, 2019, 11:35:00 PM
He never mentioned how much BTC he had in the first place. Woz's net worth is estimated to be around US$100 million currently, and I doubt he earned even $100 thousand by selling all of his BTC at the peak price (if he did that at all). Apparently, there's nothing to boast about for him lately, and it's a pitiful sight, frankly speaking.
These are the types that usually speak out because they like the idea of Bitcoin, own a couple of Bitcoins at most for testing purposes, and that's really it.

“My goal was to travel to a place like Stockholm, and go to restaurants and hotels that only accept bitcoin, and only use bitcoin when I travel.”
You don't need more than a couple of Bitcoins for that.

I have nothing against Steve, but he's not doing anything for Bitcoin, so he's not going to be missed. It's more what I call a hype surfer. One day it's Bitcoin he's cheering for, the next day it's a completely different piece of tech. I'm certain that he considers the S&P a better long term investment tool than Bitcoin itself.

Good riddance.
2294  Economy / Trading Discussion / Re: What are the disadvantages of cryptocurrency exchanges? on: January 27, 2019, 11:05:48 PM
Disadvantages of crypto exchanges is they can not give high level of security for fund all users, when exchange get hacked the user can be loss some or all of the fund, and the fund of user should be guarantee safe by exchange.
There are no guarantees in exchange land, especially with how most of them don't want to get rid of instant withdrawals. Bitmex manually processes withdrawals once a day, which is something I would like to see other exchanges do as well, but that would piss off their noob and arbitrage users, so they don't.

It's up to you to accept the risk of having the exchange you send your coins to not lose them, because exchanges will always be a hot target due to their hot wallets.

I really like Binance that was create Secure Asset Fund for Users (SAFU) to protect their user.
I saw the term SAFU pop up a few times on social media and thought it was a meme sort of a thing, lol. Interesting.
2295  Economy / Economics / Re: Gold exist 1000+ years. while bitcoins exist 10 years. on: January 27, 2019, 10:44:00 PM
Still worth a chunk of cash coming up to nearly 500 years later, with the speed technology advances I cant see any crypto currently in existence lasting a significant period of time.

In most cases, when something has proven to grow and attract adoption in the first decade of its existence, it's very likely going to do well in the next decade.

Bitcoin has the advantage that it's perfectly fine being digital Gold. I do believe that eventually stablecoins will take over the payment side of the market, but there is always a need for a decentralized way of storing value, and that's what Bitcoin does. I am more inclined to say that Bitcoin will take a large chunk of Gold's market share than that Bitcoin will end up being worthless at some later point.

If I had the option to choose $100,000 worth of Bitcoin that I had to lock up for 10 years, or $200,000 worth of Gold that I had to lock up for 10 years, I'll instantly pick Bitcoin.
2296  Economy / Economics / Re: Bitcoin maximalist or extremist. what are you? on: January 27, 2019, 10:28:59 PM
The only ones I really dislike are shitcoins like XRP which claim to be something special but are actually not better than our current money system...

The funniest thing about XRP is that it is supported by an army of fools sitting at home all day hoping that their $500 worth of XRP will be worth tens of thousands of dollars.

Seriously, I have never seen such a delusional community within the crypto space. The very fact that they threatened a researcher stating that XRP's market cap is inflated artificially by supply that can't be spent, is a clear sign that we are dealing with imbeciles.

I get it that people invest in XRP to gain profits, that's perfectly fine, just don't pretend it's decentralized or that it has any connection to crypto in general. It's a fucking database.
2297  Economy / Speculation / Re: ichimoku cloud says 3100$ is the cheapest bitcoin will ever be on: January 27, 2019, 12:58:35 AM
I expected this withdrawal from contention of the SEC deal would bring the price down a lot but apparently some people heard about it earlier and managed to get out a lot faster and dropped the price already.
If the news was sold in advance, it was very likely done during the brutal 50% selloff last year.

What if a whale comes up and sells 50 thousand bitcoins all at once tomorrow, what will happen to price ?
I don't think any whale is stupid enough to do that. No exchange is able to withstand that level of selling. I'm sure that in case a whale with that many coins is planning to unload his coins, it is either done through the OTC market where there are enough buyers ready to empty his bags, or that the whale uses various exchanges to sell these coins in batches of 500-1000BTC and have the process of selling take weeks or even months.
2298  Bitcoin / Press / Re: 2019-01-25 - Samsung Galaxy S10 to come with a built-in cryptocurrency wallet! on: January 27, 2019, 12:04:42 AM
i suppose it's a similar risk to plugging a hardware wallet into a compromised online PC. right?

It doesn't have any access to the funds on the device itself when it's plugged into a compromised PC. In case of the Ledger Nano S (and very likely other hardware wallets), you have to confirm and approve outgoing transactions manually, so there is no way a hacker can initiate and approve a transaction on his own, so there is zero risk here.

The main risk pretty much comes down to malware changing the recipient address in your web browser in an instant, and you from there manually approve the transaction because the hacker's address is all that you have seen, so you automatically assume that it is the correct one.

People blindly assume that their hardware wallet will protect them against any possible threat, but that's obviously not the case. Common sense and a clean PC is still required.
2299  Bitcoin / Press / Re: [2019-01-26] JPMorgan Claims Bitcoin Isn’t Worth Mining Anymore on: January 26, 2019, 11:29:14 PM
Another ridiculous statement by JPMorgan, guess he don't know about difficulty and difficulty adjustment every 2 weeks. Few miners will shutdown, but Chinese miners (or any miners with low-cost) will continue mine on profit.

It's meant to sound ridiculous, but they obviously know how things work here, and more so than most of the people here. Bitcoin is one of the most profitable assets they are dealing with in terms of future potential, no way they haven't done all the research necessary to understand why Bitcoin has value, and why it will continue to grow, and the mining aspect is a very important part of that.

It's nothing more than an attempt to shake off weak hands, but it seems that people aren't impressed with what JPMorgan comes up with anymore. They have to find other ways to affect the market.
2300  Bitcoin / Press / Re: [2019-1-25] When Bitcoin ETF? Not Any Time Soon, But Maybe by 2020 on: January 26, 2019, 10:58:33 PM
That's assuming the CFTC approves both Bakkt and Nasdaq's futures platforms, which I am not that confident about. I also don't like how Bakkt sells itself and teases with launch dates they can't back up without approval.

Bakkt is trying to hype up itself in every possible way, which admittedly isn't always as professional, but hey, it's a crypto related platform so we can't expect anything to change here. Hype sells in this market, so do partnerships, funding rounds, hiring sprees, etc. It all indicates progress and demand, and people here love that. Everything better than silence, which people here don't seem to like.

I honestly believe it's only a matter of time before Bakkt is allowed to go live. People here tend to believe crypto is all there is, but the CFTC has more to focus on than just a tiny dot that represents crypto. I'm certain that most of the stuff they go through has way more priority than Bakkt. Give it some time.
Pages: « 1 ... 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 [115] 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 ... 661 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!