I never worry about falling bitcoin prices
I think now is the right time to invest in bitcoin
because I'm sure someday will rise again
Exactly! Think of bitcoin as the sun. They're both round, golden and the sun ALWAYS comes up. SO BTC will ALWAYS go up too!! |
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IT IS NOT A CRASH !! IT IS BECAUSE CHRISTMAS SEASON!!!
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You do realize that you come off as a totally crazy person, just trying to talk BTC down? Any sane person would have at least posted some proof
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Yes. Look at the sun, it's golden, it's round, it's like a bitcoin. The sun ALWAYS goes up, so bitcoin will ALWAYS go up too. Now take a mortgage on your house, a loan on your car, bring your TV to the pawn shop, take student loans, maximize your credit card and BUY BTC. BUY BUY BUY because it will ALWAYS go up, just like the sun ! Remember that very well, it's THE proof that Bitcoin will ALWAYS go up!! You can not LOSE !
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Opening a channel costs very little when you consider that it can be kept open indefinitely. The amount that can be saved in on-chain fees is pretty large, as long as you're both spending & receiving money (i.e. getting a paycheck over Lightning)
That's nonsense. It costs very much because the mining fees are very high. And who wants to lock up money in a channel he's not using, for a long time? |
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Hold on.. I actually thought that there was a *ban*, not restriction(s) and regulations (perfectly reasonable) on Bitcoin, relating to banking.
And I have read the article - there is nothing stating a "ban". "Ban" is like China's ban, not additional restrictions.
Banks are actively suspending accounts associated with BTC. I'm not really interested in definitions and terminology but to me that equals banning. They're going after accounts and exchanges. |
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If the U.S. wanted to ban Bitcoin, they've had 9 years to do it and still haven't done it.
Most countries that banned BTC did so recently. India being the latest, last night. So there goes that argument. Also if the U.S. wanted to ban it, they wouldn't have allowed the creation of a Bitcoin Futures market for it. But they did.
Also if the U.S. wanted to ban it, they wouldn't allow the creation of Bitcoin ETFs for it. But they will.
CBOE can create futures on anything they feel is interesting. They're not government. Same goes for an ETF. I've actually researched the "India ban", and it seems that it's fake news. LOL look at how they put the correction in the smallest possible print: https://cointelegraph.com/news/indian-banks-suspending-bitcoin-exchange-accounts^The above article admits (in the fine print lol) that bank transfers for cryptocurrency haven't been impacted in any way, as of the 21st. Also, read the comments section. It's hilarious. That means Bitcoin is not banned, period (since you can still put wires to crypto exchanges). Fake news, fake FUD. Read it again, they only misstated one bank. The others not. https://www.express.co.uk/finance/city/907786/bitcoin-price-india-cryptocurrency-trading-btc-exchange that article doesn't even mention that specific bank |
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If the U.S. wanted to ban Bitcoin, they've had 9 years to do it and still haven't done it.
Most countries that banned BTC did so recently. India being the latest, last night. So there goes that argument. Also if the U.S. wanted to ban it, they wouldn't have allowed the creation of a Bitcoin Futures market for it. But they did.
Also if the U.S. wanted to ban it, they wouldn't allow the creation of Bitcoin ETFs for it. But they will.
CBOE can create futures on anything they feel is interesting. They're not government. Same goes for an ETF. |
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If you personally believe the US will ban Bitcoin, I guess your moves will be pretty easy.
More or less. I'm trading it with a short bias. So far so good. |
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US will never ban Bitcoin, because Uncle Sam's pockets are getting lined too well  Haha so you think the USA will sit there and watch how some crypto currency, a currency they can not control, take over their fiat currency? Haha that's funny. I would not call the current situation "take over" by any means. Bitcoin would have to grow 10x before that even comes close. $200 billion market cap (and most of that is thin air) is absolutely nothing, which is why the only way to go (in the long term) is up. Right now a few institutions can buy up all the Bitcoins available on the market without any trouble. There's NO WAY the USA will sit back and do nothing once they really fear BTC to become a competitor. Obviously they currently don't think it can happen. But if it becomes too big, they'll destroy it. |
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US will never ban Bitcoin, because Uncle Sam's pockets are getting lined too well Haha so you think the USA will sit there and watch how some crypto currency, a currency they can not control, take over their fiat currency? Haha that's funny. I'm sure that will happen on the same day supermarkets start selling uranium and cocaine. |
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Support is at $9k, so any movement above that is normal, and nothing to fear or anything.
India banned Bitcoin? I didn't hear about that, but I doubt anyone cares...
OF course not. Who cares about such a small country. Its GDP is only 2x Russia. WHen Russia banned BTC nobody cared neither Wake me up with the USA bans bitcoin |
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I agree, while BTC is trading above $2500 I consider the bears as WEAK too Once BTC starts tumbling below $2500 I'll say they're not weak. The bulls on the other hand are STROOOONG. I'm dead serious. You have this coin that failed as a payment system, governments are banning (India added last night) without any viable future, and it's STILL trading above $10.000. That's only possible because of strong bulls. |
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I have very high hopes that the community as a whole will come together and develop a bitcoin 2.0 in a sense. One that is able to scale and handle the level of transactions you would see with Visa or MasterCard. This will be needed if you want to compete as a viable alternative to other currencies.
Even if that would be possible then there's still the problem of governments banning it. It's EXTREMELY naive to assume that governments will allow some crypto coin to replace their own fiat currency. I loved this quote in that regard: "One of the keys to sovereignty is control of currency and tax. Cryptocurrency interferes with both of those, so it’s inevitable there will be regulation. It is as inevitable as snow in Davos." https://www.express.co.uk/finance/city/907121/bitcoin-Cryptocurrency-price-risk-bans-Emmanuel-Macron-Angela-Merkel-France-GermanyIf you think governments will just sit back and let cryptocurrency replace their own currency, then you're really out of your mind. It's as likely as governments to permit selling uranium and cocaine in a grocery store. |
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Jan 29th futures expire
LOL you made that up? AFAIK btc futures always expire the same day as the other futures (3rd friday of the month). |
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in one word: great.
this year we will have lightning network up and running for good and despite all the FUD that has been spread a bout this great technology for second layer transactions, it will be adopted. and the adoption is not something far far away! it is happening as we speak.
Oh I agree, some people will start using it. I think that's actually necessary, people NEED to use it in order to see that it doesn't work. People will NEED that moment of realization "wait a minute, without paying $80 to open a channel I can't pay my friend". Only after that moment it will die. |
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Well segwit is really not good enough, transaction times are still very high. And Lightning network is a joke, it will fail for sure: https://bitcointalk.org/index.php?topic=2792933.0So once people realize that, the value will go to 0. I think it will take a while though, I'm not sure if it will be this year. But I do strongly believe it will go to 0. The only reason BTC is so high, is that people have some dream in their heads about what BTC COULD be. But it's not a realistic dream at all. That realization will kick in some day. |
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B is likely to be chosen for a transaction that goes in the opposite direction, so over a long period of time, his balance will even itself out as C will send back to A (or be part of a route that includes C -> B -> A). Agreed. Yet, man, it would be a huge obstacle, at least for me personally, to open up my channels for routing. I mean, there's a reason why I'd have $2500 in the channel with my landlord and $25 in the channel with my coffeeshop and not the other way around. I'm thinking though, I could move money around my own channels for free I guess? *EDIT* no that won't be possible, user B can't move money into channel 2 because then the channel's worth would be over 2 BTC. The only way would be an on-chain transaction, right? |
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The Lightning Network has an entire Peer-to-Peer network protocol. Using that protocol, a node can ask its peers for channels that they have open and peers that they know about. Then the node can connect to those other peers (note that connecting does not mean that a channel was opened) and learn of their channels and peers. It can do this to build a graph of the entire network and then thus determine the best route.
Of course there are better ways to do to this with various shortest path algorithms that don't actually need to know the full graph.
So when I want to route money to someone, my software has to ping all of my channels, then have their channels ping theirs etc, every single time? |
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The costs of running a Lightning channel are essentially zero.
No, the cost of running a lightning channel is 1x mining fee THE LEAST (for funding the channel). More realistically it's 2x mining fee (opening and closing), or more, depending on the number of funders. That makes it very difficult to make any kind of profit from Lightining channels. If no profit could be made, then it would fail for sure. Why would you open your channel for routing if you can't make money on it? Nobody would open his channel for routing, so the project would fail from the start. It all DEPENDS on people making money routing other people's payments. |
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