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2301  Other / Beginners & Help / Re: Mining Bitcoin at a Glance 🔊 on: June 04, 2021, 05:36:28 PM
I think the "reduced circulation" part is a side effect of the currency's architecture. It might not have been fully thought through by the initial core team however it is significant as it only matters that the value of the currency will increase (as apposed to fiat, assuming scarcity and value are proportional).

Mining is also luck based, you just have a lot more chance of luck with a more powerful machine. Mining individually could probably be likened to buying a lottery ticket.
2302  Other / Beginners & Help / Re: History of the name bull and bear market on: June 04, 2021, 05:28:28 PM
You CAN trade against the market. It doesn't cause too much of a problem if the strategy is good for spotting mini trend changes.

Bull and bear markets do have components of each in each other too and there's a point where a market could be considered potentially bullish if enough equity and people are buying compared to the sellers (not just when the trend has changed).

I'm not sure how definitive your estimation of bear and bull being based off the animals fully as "bear" actually looks similar to "fear" too (and a fearful market is normally a dropping one)...
2303  Other / Meta / Re: Is it time to increase the Emojis ? on: June 04, 2021, 08:41:53 AM
Who needs emojis, when you can just Image loading...embedImage loading... images?


The speed the forum loads if this happens ↘️.



Wasn't the emoji keyboard on android open sourced a while ago? It might be possible to put it on a main computer or just search the alt codes for windows.
2304  Economy / Trading Discussion / Re: Can any one suggest best indicator for trading? on: June 03, 2021, 06:12:37 PM
I'd recommend you use personal edpecience and experiment and try to test a few things out yourself to see what's good to use.

I think the RSI is good for working out the sentiment of the market in some ways but it's good to cross reference it with something else as it won't work on its own - I use it in conjunction with a specific strategy for example.

I think there are indicators for volatility that might be usable but I can't remember what they're called.
2305  Bitcoin / Bitcoin Discussion / Re: JP Morgan Likens "BITCOIN to FOOLS-GOLD" Say's $20k todays value on: June 02, 2021, 09:50:50 AM
Today's VALUE of amazon is 420-700bn but its still worth 1.6T...

Saying it should be $20k is probably a more positive statement - if it crashes most of us are now never at a loss even if it gets that low.

I often wonder if these news articles are directly targeted at older people and the working/upper classes to make them lose money too (I don't think anyone not in the Elon type follower group is listening to any of this fud).
2306  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: Lost 17k on CEX.IO on: May 30, 2021, 04:53:42 PM
The response they gave is completely unacceptable. The token only moved smart contracts (not even blockchain - since both are ethereum contracts)

You're just going to have to keep "politely" messaging them to ask for the tokens to be credited to your account. Its a 1:1 split too so they can't have problems in returning them back to you or credited to your account. I'd suggest you ask them to forward your case to an engineer who can resolve it.
2307  Economy / Speculation / Re: How high u rekon it'll go if Elon tweets right now that Tesla is accepting btc? on: May 29, 2021, 11:31:01 AM
People generally don't like market manipulation so I'd expect it to fall further as well as his company's stock price...

People are forgetting doge was being pumped prior to him and had already got quite far up - a bunch of people mightve invested by seeing what the return had been previously.
2308  Other / Meta / Re: Is this even fair ? on: May 28, 2021, 08:54:28 PM
Yeah the thread has a disclaimer at the top. You could've made a separate thread quoting the op or just not post in self mod threads.

Members do this sometimes and the forum doesn't want to moderate how self modded threads are moderated (unless it breaks some sort of rule forum wide or one personal to that mod/board).

There's still the archives too you can use to find replies that were on the topic by checking (eg archive.org takes frequent snapshots of the forum - or used to at least).
2309  Economy / Trading Discussion / Re: Bitcoin futures trading - looking for advice on: May 28, 2021, 10:28:54 AM
I size based on potential loss and confidence.

I normally put no more than 10% potential loss on each trade and ensure my profits will at least cover the loss (most weeks I'm about 75% accurate but in some it can drop to 60 so it's good to be pessimistic).

Confidence drops if my doubt is over. A certain threshold or if I've had a stop get triggered - I'll send tests out at 1% if I have two successive stop triggers normally.
2310  Economy / Trading Discussion / Re: Still trading BTC even though actually trading Alts on: May 27, 2021, 04:26:08 PM
I'm not sure how credible it is but it's been accurate a little recently that btc is best to hold in times of volatility and alts are best to hold. In times of stagnation (or smaller moves) - logically this seems like it'd be the case if people start to research more, get bored or annoyed they haven't made much profit.

I wouldn't sell at a loss but I think you could get altcoins for cheaper compared to btc soon. (but another leg might come in either direction first).
2311  Bitcoin / Bitcoin Discussion / Re: Overview of lightning network nodes owned by forum users on: May 27, 2021, 12:13:54 PM
Hi,

the list in the OP for any clear web (for want of a better description) nodes are all uncontactable.  Is there any chance the list can be updated?




Also as a side comment, having nodes behind an Onion firewall (again, for want of a better description) mean there's actually two Lightning Networks and two main-net block-chains operating in tandem.

Yeah I plan on going through them in a few weeks to see which function and which don't but there didn't seem to be much demand here atm.

I imagine the lightning devs will probably come up with some way to link the two networks if it hasn't already be done as it would be a good improvement to the network (and seems like it'd be possible - you can connect to the light Web over the dark Web though so it might already be possible - they already signed a ct and "redeem info").
2312  Bitcoin / Bitcoin Discussion / Re: Can countries highjack Bitcoin? At what cost? on: May 26, 2021, 04:19:52 PM
Let me clarify, adding some additional events that I think will occur:

1. China picks a date and declares it will utilize huge amounts of hashrates for mining Bitcoin for 24 hours (at the cost of ~ 20 Million dollars, per hd49728's reply, which is pocket money for countries), implementing a 51% attack.

2. Scared individuals and institutions sell their coins ASAP, generating a colossal "run to the bank". The BTC to USD rate tanks.


This is how terrorist organisations have functioned in the past. Delivering threats of certain days, on some they launch an attack and on some they cause fear.

What if China just wants people to think they have power? Threats are generally more powerful than an actual attack.

If they also launch an attack and say they're only doing it for a day, or if it only lasts a day,  then it'd be interesting to see if anyone would pay attention to it.

Do you agree such an attack will result in BTC price tanking? in such a case, the rewards granted for newly created blocks will tank, removing a huge proportion of miners from Bitcoin, undermining the faith in Bitcoin. Then, to get those 50+% will be easier, won't it?

How is it possible to recover a snapshot? Shouldn't all nodes agree to it in a decentralized manner? How plausible is that in your opinion?

For your first point it depends on what other countries would deem reasonable as a sanction on China as to whether they'd get enough hashrate. A lot of countries would probably have enough (idle) power to be able to launch a cou ter attack if they wanted to - especially if it occurred at the weekend.

And no the nodes wouldn't need to agree to it. The miners, traders and users of the crypto would have to.

A lot of older people in crypto here, first off, have diversifications into altcoins so might not care as much with what btc is doing. Retailers have only heard of bitcoin and will probably still likely buy it from the places they've heard of it from.

The new update would just be advertised as a critical one and would be able to pick a block it stops mining the old chain and starts mining the new. (full nodes store the entire blockchains history so it'd just rewind the transactions back to a certain block).
2313  Other / Beginners & Help / Re: My cryptocurrency experience on: May 26, 2021, 04:01:40 PM
I think you kinda summed it up but it's generally news when nothing is happening or when stuff starts looking a bit different.

The current crash started because a local new high also couldn't be broken for a while, the news likely just added stress on top of the decisions people were making about the market.

The price levels are predominantly controlled by retail too as a lot of larger traders will be getting coins otc and may not be influencing the market much by their volume.
2314  Bitcoin / Bitcoin Discussion / Re: Can countries highjack Bitcoin? At what cost? on: May 25, 2021, 09:23:46 AM
It would be possible for a country to build up to 50+% of mining power but it would probably be futile.

There's a good chance a snapshot will be taken and the coin will be reincarnated and functioning with a different algorithm. If this doesn't occur, there's potential some governments use a snapshot to reimburse investors or offer some sort of compensation (especially if large companies or even the government have a stake) - either that or another set of countries would launch a counter attack on the 51% attack being done by the attackers.
2315  Other / Beginners & Help / Re: Whales and the bull/bear market on: May 25, 2021, 08:19:49 AM
So do the whales have the ability to dump us into a bear market on their own?

They would be able to buy cheap Bitcoin but if we're in a bear market they can't sell for huge profits (and then rinse and repeat) until the next bull run. Or is Bitcoin accumulation the be all end all for them?

Generally things like technical analysis seem to work much better in the times we're in a bull run so I doubt the whales can move much price wise and are probably trading based on technicals or not trading at all.

They may have the power to move the price somewhat but I don't think it's worth the risk to them or the effort unless they spot something in the order book that looks manipulatable (for example the larger movements that occur on weekends).
2316  Economy / Economics / Re: Is Bitcoin Naturally Defined By 4 Year Boom And Bust Cycles on: May 24, 2021, 06:21:55 PM
We're closer to 3 years from the last crash at the moment though..

I think the bullish parts of the cycles start to increase in time as we go along too (you're attributing a lot to China, I heard nothing memorable of them banning anything in 2017 - probabky fud).

The big crash also was probably 2018 last time? January had a massive red candle while december closed green.
2317  Bitcoin / Bitcoin Discussion / Re: What the CEO of a Gold mining company has to say about Bitcoin on: May 24, 2021, 05:36:37 AM
He said that while no one can print new gold into existence, people can still make cryptocurrencies.

Ooooo that's a funny one! It might be better if it were true but any economics history lesson will likely teach you otherwise (gold smiths were the first to utilise a fractional reserve system).

Both are good stores of value but gold requires much more expensive storage and physical ownership to make it retain its value.

I remember gold started a rally also at some point but I haven't checked how it's doing it doesn't really make it stable if it gets noticeable rallies.
2318  Other / Beginners & Help / Re: Large Transfers - best practices? on: May 24, 2021, 03:42:31 AM
Let's say I want to make a large transfer to an exchange. I am sure to verify the receiver address. However, if the exchange made a mistake somehow, all the bitcoin would be lost forever. So does it make sense to send a small amount first, confirm that they receive it, and then send the rest?

Because I have also heard that each address should not be used more than once.

If you know how, I'd recommend signing all the funds over first, storing the transaction offline and broadcasting a smaller one. If you get an email confirming your pending deposit before you've got a confirmation you may also be able to double spend the original transaction allowing for you to mitigate paying extra fees (as the 2 transactions could be replaced by one).

This assumes you're sending your entire wallet as it'll probably cause extra hassle if you don't (also if you're not confident in how to do it I'd stick with sending the smaller amount first and the larger amount afterwards).

2319  Other / Beginners & Help / Re: Bitcoin ETF in the US - happening? on: May 23, 2021, 03:40:51 PM
I think an etf in inevitable by now (in the US since Europe has a few already).

When it comes is anyone's guess, there were a lot of filings in 2017 too that didn't seem to get approved or just got postponed until they were pulled - the same thing could probably happen again. If it doesn't, we'll see quite a strong bullish sentiment imo especially if they're not limited to the normal security standards (eg requiring more than $5M of net worths of individuals before being eligible).
2320  Economy / Speculation / Re: Everyone is fearfull. Someone said this is time to be greedy on: May 23, 2021, 05:54:37 AM
I bought back at 30k but I'm still waiting for a confirmation we go up before opening anything worthwhile on leverage. (I'm waiting for a decisive break above about $40k). There's a chance we just continue in this range or fall a bit if we don't get much of a move (both resistences are very strong).

Spot trading, however, now is a great time to buy. You should obviously ensure you have enough additional funds just in case the market takes a downturn (but I doubt anything below 28k is possible this quarter).
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