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2321  Economy / Economics / Re: How to grow bitcoin price to $176,190,476.19? on: January 23, 2019, 01:21:18 PM
Don't you think the current bitcoin network condition isn't possible to do that? What about maximum TPS? What about miner fees? Before bitcoin could achieve that market cap, it needs major improvement. In other words, bitcoin need organic (continuous) growth so it could evolve as the market grows.

TPS is a useless metric at this point in time. It's what shitcoins use to advertise themselves with, but still, no one gives a shit. You can have 1 million TPS, but if no one is using your network, what's it worth?

Bitcoin has been doing 2-5 TPS for years and years, and it continues to gain value like crazy, so will it in the forthcoming years. What matters here is that people can and will use higher fees to front run your transactions if they feel there is an incentive to do so. We have seen that during and after the bull run with how the fees spiked up rapidly.

If you like high TPS counts, then dive into LN. There is basically no TPS limit over there.
2322  Bitcoin / Bitcoin Discussion / Re: Can bitcoin sustain itself on fees alone? on: January 23, 2019, 12:18:55 PM
Bitcoin is the main protocol, there rest that will be built on top of it will be generating fees too, so it's not just on-chain fees that miners will be getting, but also the fees coming from side chains they merge mine, second layer fees (i.e. providing liquidity to LN, and remember that LN is just one second layer and that we will have many more), etc. We're not even close to a point at which we have seen what Bitcoin and everything running on top of it is truly capable of.

As long as people have an incentive to pay high fees, they will continue doing so. Speculation and both use as value transfer are pretty damn solid sources of incentives.
2323  Bitcoin / Bitcoin Discussion / Re: How about a bitcoin coinstar? on: January 23, 2019, 11:48:54 AM
So you'd have to change your coins into bills and then use those to buy BTC... which means more fees.

How is converting coins into bills something that requires a fee? I can walk into any store here and they happily change it for free, or I can have it done in one of my local bank offices for free.

Admittedly, it would be cool to have the machine accept coins too, but hey, you can't have everything. The smallest note in my case is €5 and I barely have any use for it. I have €5 and €10 notes in my physical wallet that have been in there for over nearly six months, would love to have them converted to Bitcoin through a coinstar machine, but we don't have it here. Undecided
2324  Bitcoin / Press / Re: [2019-01-20]What Threats are Cryptocurrency Exchanges Currently Struggling With? on: January 23, 2019, 11:33:02 AM
The main threat is simply other exchanges. There are so many propping up every quarter trying to be the new binance, some offering little to no fees and incentives as well.

That's not a threat, but something I very much welcome. I would love to see exchanges as Binance and Coinbase shrink down significantly.

It's going to be an interesting time with how legacy banks will soon start to offer the exact same services as Coinbase, because the amount of money that can be made in fees is too interesting for them to discard. It will also increase the legitimacy of the trading desks themselves, and hopefully result in more liquidity with how people right now don't trust exchanges.

Say about banks what you will, but they are 100x more trustworthy than a silly crypto exchange, and they know how to handle insanely large amounts of money, which can't be said about crypto exchanges that are operated by a bunch of amateurs.
2325  Economy / Speculation / Re: Why the Crypto Market Remains ‘Moderately Bearish’ in 2019 on: January 23, 2019, 12:01:08 AM
People still can't see the fact that it has been just 3 weeks. We should be looking at the upcoming news instead of looking back on the history of bitcoin.
The article title is bait, but what else can you expect from news outlets? And what news are you referring to? There is no news that will lift the market back up. The history of Bitcoin in terms of price action has proven to be a more than reliable indicator of what will happen in the future, so it makes sense to pay attention to that.

It never does the same thing again and again every year, if it did we would all be rich by buying during summer and selling during December.
It seems that the charts disagree with your assessment. Admittedly, it's easy talking afterwards, but we can clearly see how similar the cycles still are.

Charlie Lee saw it coming and dumped his Litecoins and even warned people, but not many paid attention.
2326  Economy / Speculation / Re: Tone Vays Is 85% Certain Bitcoin (BTC) Hasn’t Hit True Bottom on: January 22, 2019, 11:25:12 PM
if we reached such price it will only last a few days or weeks giving you the opportunity to buy bitcoin for a price close to 10% of its all time high, while many will be afraid of doing such a maneuver those which have the guts and confidence in bitcoin will reap the rewards in just a few months.

Generally, true bottoms can't be bought manually. You either need to set up buy orders in advance on various lower levels in the hope that they get filled, or have a bot jump in for you, because you can be sure of the fact that you are way too slow. I currently have no buy orders open, but will do so the moment we close below the 200 wma, which is a clear signal that there is more blood to come.

And yes, the joes of this world don't have the balls to buy in when the price is going down, especially if they tried to buy previous (way higher) dips with no success. We have had so many dips this year, and every one so far turned out to be the wrong one to buy, so we'll need more time to see if the $3200 will be added to that list. I hope not, but you never know here. Crazy shit happens when everyone is panicking at the same time.
2327  Bitcoin / Wallet software / Re: Hodler wallet on: January 22, 2019, 10:34:53 PM
But at least it looks real, unlike scam wallet/project which put random code files or executable on their commit Tongue
Looking real is where the danger lies. The main problem here is that you don't know how random the keypairs are. If all of them are pre-generated, you basically expose yourself to the risk of having the entity behind the client take a run with your funds. If that entity is smart, he won't be touching small amounts, but rather wait for a couple of big fishes to slaughter to enjoy a nice paycheck.

IMO the only way to verify it's source code is by pay someone who expertise and have good reputation in this field.
It could be that someone with understanding is interested in the client and does it for himself and shares it with the public.

Man, am I happy that I don't deal with shitcoins. Bitcoin Core + Electrum is all I need. The best of the best.
2328  Bitcoin / Bitcoin Discussion / Re: Decentralized System Disadvantages on: January 22, 2019, 09:58:33 PM
If Bitmain really wanted to get rich quick by propping up an altcoin, they probably shouldn't have forked Bitcoin -- they gave Bitcoin holders millions of free coins to dump on the market. Cheesy

They are amongst the largest holders, so there isn't much for them to lose there, especially with how every exchange was basically forced to ride the hype and list BCash as soon as possible. On the runup to the Coinbase listing the price shot up to over the $3000 level, and I'm certain that everyone within the big block camp has done everything to sell the crap out of it.

If you also add that BCash is another large SHA256 chain, they could finally have their older miners running in a profitable manner again instead of having it be worthless scrap metal.

Bitmain and Roger got a free ride to the moon, although Bitmain went too deep and shot itself in the foot unnecessarily.
2329  Bitcoin / Press / Re: [2019-01-21]Bitcoin Price Likely to Drop to $2,400 & Lure Wall St. to Purchase t on: January 22, 2019, 09:35:23 PM
Anyone believing that wall street is waiting for the price to tank in order to enter is delusional. They have been in longer than most of the people here, so don't believe in fairytales.

Altcoins are even more of a bargain with 90% drops so those are worth a punt as well
90% down from highs doesn't matter in crypto, especially when most altcoins tend to go down +95%, so there could very well be another 50% to be taken off their current "extremely low" prices. But then again, buying coins having gone down 90% is 1000x better than buying them near their peak levels. If you can swallow a short term paper hit, you can always take the gamble.
2330  Bitcoin / Press / Re: [2019-01-21] - How US Government Shutdown Affects Bitcoin ETF Approval on: January 22, 2019, 09:18:48 PM
Don't forget the winklevoss twins who are also likely to launch an application as well. Only one needs to succeed just to get the door open, then the rest will simply copy and paste to get a green light

If a well known entity as VanEck (which is a huge player in the ETF market) can't get the SEC to approve an ETF, every attempt coming from the side of the Voss twins is a wasted effort.

They should stop wasting time on silly ETF's and start paying more attention to what really matters, which is developing applications taking advantage of the Lightning Network, and maybe even use their exchange as liquidity provider, who knows, just do something useful that makes Bitcoin fundamentally better.

This ETF nonsense lasted for way too long now, time to have it come to an end.
2331  Economy / Speculation / Re: Why Bitcoin will pump like crazy on: January 21, 2019, 10:53:08 PM
There is much hype and expectations on the bull run this year but no one knows what will happen in upcoming days, as far as I concern is the BTC is dumping again after pump and other Alts follow the same is the most horrible thing. Let's wait and watch the future of crypto trading.

You mean last year, right? The sentiment has taken a massive dip the moment we tanked from $6000 to where we are right now.

I guess that there is still some air left that needs to get out, but it seems to me that altcoins are faring pretty well where they stand right now. It's purely the Bitcoin market that's getting beaten up, while altcoins do seem to hold stronger each time Bitcoin takes a dump. With that I mean that it's no longer Bitcoin down 5% altcoins down 10-15%, but more Bitcoin down 5% altcoins down 5-7%, while altcoins still do pump much harder on the way up.

Positive aspect however is that USDT has printed over 150 million tokens in the last weeks, and the other stablecoins have printed more tokens as well, which means that there is more money in the market now.
2332  Economy / Speculation / Re: Federal Reserve Blames Altcoins for Dragging Down the Bitcoin Price on: January 21, 2019, 10:34:46 PM
Crypto as a whole was taken down by the sheer amount og altcoins popping up, that I believe. But there were just as responsible for taking it to the most recent peak.
You are contradicting yourself with these two statements. Or, do I need to understand like altcoins were good when bitcoin was rising but not in down-fall market. How it will be possible ? I believe altcoin space got benefited while bitcoin was attractive enough as most crypto adopter also value diversification principles. But in current markets, altcoins are misleading investors with their fake bumps, like how BCH/ETH/Waves did in very recent times.

It's not contradicting, it's what I believe to be the reality, especially with what happened back in 2017.

People wonder how someone could have bought Bitcoin and Ether around their peak levels, but the fact of the matter is that most people didn't buy to invest in either of those coins, but to invest straight into ICO's. It doesn't matter what price you buy at, all you need to do is to buy x amount worth of Bitcoin or Ether to get your share of the ICO you invest in.

Whenever we see another ICO bubble develop, you can expect the same to happen again.
2333  Economy / Service Discussion / Re: Lasso Trade - SCAM or NOT? +3% daily on: January 21, 2019, 04:42:04 PM
I find it funny how they adapt to the greedy nature of people here by stating that the 3% daily option is low, while in reality it's almost 1100% annually. Cheesy

And the HYIPs wich such plans usually collapse within a month or two, depending on how many people keep investing on the site.
Domain is 39 days old, so I guess that they will last a month or two longer before you see them take the site offline and register a new domain to pull off the same scam. With these crazy high fake interest rates you basically force yourself to have it be a quick scam, because during a bear market there just isn't a way to have people go nuts on sites like this.

People are still licking their wounds after their life changing investments (at least, they hoped they would be) rekt them in the worst possible way.
2334  Bitcoin / Bitcoin Discussion / Re: Adoption: Rakuten (Amazon of Japan) to likely introduce BTC as a payment option on: January 21, 2019, 04:06:38 PM
I am curious does launch of gov digital money will have any impact on crypto currencies market

It depends. Not everyone needs a decentralized/censorship resistant form of money, so if governments issue a fiat like token people can transfer 24/7, they will use it just because it's convenient, stable, and a way better form of money than any crypto is today.

Bitcoin has the advantage of being digital Gold already, so there isn't much damage it can inflict there, especially with how the far majority of the people here don't use Bitcoin as a currency for day to day transactions anyway. We're still using fiat, and we will continue to do so in the forthcoming years, so unless a major fiat currency implodes and people lose faith in government issued money, not much will change.
2335  Bitcoin / Press / Re: [2019-01-20]Turkish Crypto Exchange Sistemkoin’s Disturbing Security Flaw Reveal on: January 21, 2019, 02:11:06 PM
You use a service like an exchange to store coins, and it's Russian roulette. Even using any service temporarily exposes you to some risk, but at least you minimise exposure if you immediately withdraw once you're done using.

In the end, most users are super ignorant, don't know what a good client is, don't know what private keys are, etc. If they stick to a reputable exchange, they are less subject to potential coin loss than if they decide to take care of their own storage and use malicious clients, because that's how quite a significant number of users lose all their coins.

It's even quite difficult for people like us to take care of cold storage, because we have to make sure we sign clients before installing them, have yourself or someone else you know audit the code, etc.

Seriously, the only thing you need to trap in users is a fancy looking client, and people install it just because it looks better than all the trustworthy clients combined. That's how far gone average joes are, and honestly speaking, crypto as it is isn't noob friendly, 'using' (more speculating) crypto through exchanges is, because someone else does everything for you.
2336  Bitcoin / Press / Re: [2019-01-20]South African Police Arrest Two Kidnappers Who Asked For Ransom in B on: January 21, 2019, 01:48:36 PM
The moral of the story is, if you do not understand the technology, do not use it for crime. I am glad that these people were caught and I hope the authorities will make an example of them in the court.  Angry

It's funny actually, because these imbeciles asking for Bitcoin ransom very likely have followed the drivel coming from mainstream news outlets pointing out how Bitcoin's anonymity is a safe haven for criminals.

They probably expected a sweet payday, but got something else as result of their stupidity. I wouldn't even count on XMR's or other privacy coin's anonymity to help me out. People thinking to outsmart agencies pumping millions in research and development of tools to figure out what's happening on the crypto networks will pay the price for it.

You can't escape if you or whoever else controlling these tainted coins will deposit them on whatever centralized service, that's how people quite often get busted.
2337  Economy / Economics / Re: First Bitcoin ATM in Venezuela on: January 20, 2019, 11:34:09 PM
Seems you've never been in a country with attitude and problems like Venezuela.

Yes, the ATM is on crowded place but if you think that could save you from robbery or beating the sh*t out of you and rob you, you are in big mistake. Still its good to have more support for bitcoin and every other alternative. 
Have you been in Venezuela?

I'm not saying it saves you from ill minded individuals out to steal your coins, well placed ATM's however reduce the frequency at which it is possible to pull off something like that. You are making it look like there is a huge danger, which is greatly exaggerated, regardless of what country these ATM's are located.

From what I've seen in the news, when there is a crowd in front of a supermarket usually it takes a few seconds and the rumor that they have stocked with enough to make one portion of kasha to enter a mad max scenario...
Have stocked what, the ATM? There is nothing stored within the ATM related to Bitcoin. It fetches all the data from an external server, so you don't gain anything by trying to break/steal the ATM in the hope to get the Bitcoins inside.
2338  Economy / Economics / Re: The Decline and Fall of the European Union on: January 20, 2019, 11:20:12 PM
To some extend it feels like the EU and the Euro have been pronounced dead or dying almost as often as Bitcoin. In both cases these obituaries seem to come from people with an outside vantage point with little insider experience.

Bitcoin has strong fundamentals, keeps gaining traction, and has the potential to actually become a digital form of Gold or perhaps even a reserve currency, you never know. The EU and the Euro on the other hand, are built on a rotten foundation, and that's something pretty difficult to discard and is rightfully seen as a ticking time bomb.

I do however agree that news outlets and the people who are sucking them off are just reading what they want to read without looking/thinking further, but you can't avoid that. I am holding the majority of my fiat savings in US dollars instead of the Euro, which I am very happy with, because I have little to no faith in the EU as a whole at all.

I hope that it won't happen, but I can't rule out that the Euro may end up dropping well below the US dollar in the forthcoming years. I protected myself in advance just in case it does turn out ot happen.
2339  Economy / Speculation / Re: Relax, its just a hard market reset on: January 20, 2019, 10:40:32 PM
i expect to plunge below the 200wma but i'm also expecting a fast recovery, same as 2015. consecutive weekly closes below the 200wma and i'd be shitting pants myself. that would indicate a stronger downtrend than ever before. a very temporary loss of support followed by a v-shaped recovery would be the ideal---that would be characteristic of a bear market ending.

The main difference is that at current levels there is much more buy support needed to keep the price at certain levels, while that was less of a problem years ago with prices hovering at levels less than a tenth of the current price. There is very little dept in the books as we speak, while there was no shortage of support during the hype of 2017.

I really expected things to be different after nearly a decade of existence, but we're experiencing the exact same pump and dump cycles unfortunately. My fault I guess.
2340  Economy / Speculation / Re: Is it fair to call it burst of bitcoin bubble. on: January 20, 2019, 10:14:17 PM
@WinslowIII: halving, Brexit, stocks crash, LN and some linking to institutional investments (bakkt, etf,  ...) can all be catalysts.

If we look at things from an unbiased perspective, we have only the block halving as event that will play out for sure and very likely drive the price up before and after. Lightning is something that people have to use first to understand and appreciate, because most people right now wrongly assume it's not ready, can't be used, and that it might take like years before it's rolled out.

Lightning is something that will later on affect the market positively, because that presents an opportunity for people to 'stake' their coins by locking them up in Lightning channels to scoop up fees. It wouldn't really surpise me if there are like 50,000BTC locked up in the Lightning Network within 5 years. The more coins are locked up the less that can be sold on the market, it's that simple.
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