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I don't know if it's clear enough that Bitcoin belongs to NO ONE! It doesn't matter if a bank, a ceo, a collective or a clan decides to pump it, store it, accumulate it or whatever. Bitcoin is FINITE! There simply will never be enough for everyone! If people decide to use it, there will be no upper limit - simple as that!
Regarding the conspiracy theories, I will have to post what I used to about 3 years ago in this forum: "Bitcoin is built with one goal in mind... human greed is surpassed". So, in essence, nothing is more certain than in this way, the guys who brought the world onto its knees via sovereign debt (by using bank "products") will eventually play their end game.
I personally see absolutely no devastation in this for any of us. Only for them.
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Of course, if it hits a million dollars it would be devastating for the banks.
So you think the banks will just stay and watch until bitcoin takes off. Man these banks will be the ones pumping bitcoin. Once they realize how good it is, they will put billions of $ in it, and make a fortune with it later on. They will not stay and wait until grandmothers will put money in bitcoin, or the other sheeple, banks are opportunists, they will probably invest in the next 2-3 years in bitcoin. I actually expect the next bitcoin pump to be driven by the banks. I don't care if Banks embrace BTC, actually that's what I want! The thing is, once they do, there's no more QE or -to put it simple- money inflation anymore. Gresham's law will do the rest. This is the first and most important thing BTC incorporates IMHO. |
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k 368 beckons ... if we plough through that with conviction the roof comes off and the breakout could go full bulltard mode, search lights, dogs howling, sirens, gunshots from the watchtowers, etc
My place to be...  |
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No one who wants to use Bitcoin is sitting on the sidelines saying "Oh, I'd like to buy this with bitcoin, but darn... Their blocks are just too darned small!".
uhrm... ever heard of the fidelity problem? Nobody will care in a couple of days, when the price will surge banana-like. Trust me. Whales are coming in, CCMF. Period. |
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Can you translate your PnF charts to a buy or sell signal ?  (Looks from your chart, that we stopped at a resistance line and we probably go down. Correct ?) On the contrary, I'd say when the resistance is broken it IS a buy signal... But yes; we're on the verge right now...  |
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Also, IMHO we will test the 70 resistance of 1w RSI - this must be somewhere between 345-385.
It will either bounce there (final top) or break it and enter a mega rally, probably towards new ATH.
Just happened! Choo Choo...  |
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If bitcoin hits a million dollars, won't there be a huge economic devastation?
Of course, if it hits a million dollars it would be devastating for the banks. So in a way this will be considered as a *partial* economic devastation... I'd personally call such an effect as a 'solution'... |
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A new bear trend is now 33% probable (we closed daily below 318).
Does that mean a bull trend is 66% probable? That would be 67%  Seriously now, nothing has changed significantly; this was a most welcome retrace that signifies the trend is not a bubblish (well, it is, a little) and we may head towards much greater things...  |
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Is there a way to top up without going via BTC ?
CNY on BTER OTC for some sort of fiat (or non-BTC crypto) payment EDIT: Poloniex XMR pairs, including vs. USDT. (Thanks macsga, I forgot those.) AltQuick Thanks! I didn't even know that existed nor that they offer Monero. Has anyone used it? Well, THAT'S interesting! This looks just like localbitcoins on steroids! Didn't know about this site as well... I'd be tempted to buy some XMRs from there but it looks like they want SEPA (which I'm not sure I can do since the capital controls in Greece have been in effect). Thanks Globb0 for the link! @Smooth: you're welcome |
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Is there a way to top up without going via BTC ?
Poloniex can do the trick for you via other alts. Check the XMR column on the right of their UI, on how to do it with LTC/DASH/etc. Cheers. |
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I am not a big Monero supporter but I own some coins. It is very hard to understand why the coin shows such weakness when Bitcoin and most other coins are increasing their values over the last days/weeks. It seems to me that investors are selling their Moneros in oder to get into the other coins to jump on the pumping train.
Weakness is one way to see it, stability is another. Every coin has two sides, depends on which one you've put your bets on. As for the "investors selling" don't forget that there's a possibility that "the investors" were just panic sellers (or even just one) that put up their time waiting for XMR to pump and noticed that if they followed the flash pump in LTC or a couple of days ago ETH, they could have gained more... Ah, decisions, decisions...  |
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If you want a good price for XMR, I'd say this is it. It's the accumulation period that most of the future XMR owners will stare at their "early" days just like we "old bitcoiners" look back at 2011 (talking about myself). XMR is the coin that I'd never afford not to own some. So, I'm seizing the opportunity here. Don't take my advice for granted, as it's based on my own meandering experience; but please do yourselves a favor and keep *some* XMR for the future. Even a few will do the trick... |
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I wonder in which currency BTC will be withdrawn after the dump? Fiat, LTC, Doge, XRP? That would be a personal preference, I'm afraid. In any case I'd like to diversify to an "unlinked" to BTC currency / or crypto. The obvious reason is to try and hold your buying capabilities right after the crash... |
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You expect a higher btc price because of the ltc move a few hours ago ?
Yes, that's what I think. I'm watching my own indicators and I can't say that I'm a TA expert (not even close) but I have observed that this is a common procedure. Look at the previous LTC pumps & dumps, then correlate with the respective BTC prices. They're (most of the times) connected. That's why I asked Klee to include an LTC price chart on PnF in the first place. |
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*eating my hat* I just reentered a bitcoin position. The recent move looks quite interesting. Sold my position, feels bubbely. Will reenter either at 270 or 420. FWIW: LTC is currently pumping; watch out for the next LTC dump -> BTC pump... IMHO, the higher LTC goes the bigger the leg up for BTC. This has happened so many times in the past that it's really getting boring. I really hoped for another vehicle other than LTC (ie:ETH) but didn't happen. Oh well... |
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the banks aren't going to give up their global ATM machine easily - after all the money supply never dry out in that global ATM machine.
If they are going to ban cash wouldn't the ATMs would be useless? I mean we would all use contactless Credit Cards, card readers for merchants, and so on. But the ATM system itself would go to waste. Its funny because the ATM manufacturers dont like that. They could have banned cash a long time ago , but I think the ATM business is not letting them. In a world where all is centered for profit, you have to wrestle with your business partners too This is pretty much what I had in mind as well. Having a conversation with an "economist" last week he said to me that this will be the future of finance whether we like it or not; fiat money will be used only in the 1% of the people that fall into the category "I don't want to evolve". Being a witness of the transition in Greece the last couple of years, (especially after the capital controls) it's pretty easy to achieve this goal within -literally- weeks. The only thing you have to do is to "cut the paper circulation". Everybody's running for their brand new plastic cards! |
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Out of curiosity, a technical question; would it be easy to migrate to the new version with/without GUI? You've mentioned earlier that a beta is already floating around but never got the chance to run it myself successfully (MoneroX GUI client crashed on me). I thought starting it from scratch with a new wallet and transfer the funds there, but I just dropped it since it's now working just fine... Would you recommend a migration or a brand new wallet/database? Your wallet can probably be directly transferred over (but I never used the GUIs). I think you can just download the new binaries and run bitmonerod until it's synced up, and copy the wallet files to wherever you want to run the new simplewallet from. Syncing on the new version is often nearly as fast as converting the existing chain and usually less headache. If for some reason your wallet can't be transferred over, you should be able to recreate it from its seed with the new simplewallet. The beta works well for me. Its super fast synching and uses very little ram, as little as 100mb I believe.
My working set is presently ~475 MB, but Private is only 42,400 KB (the number that shows up in Task Manager). Thanks for the prompt answers, from all of you guys. Very much appreciated. I've been away for a couple of days due to a national celebration here. Will try tomorrow on another computer - this VM that I now store my XMRs can't handle a second DB within the same HDD file. Cheers. |
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Out of curiosity, a technical question; would it be easy to migrate to the new version with/without GUI? You've mentioned earlier that a beta is already floating around but never got the chance to run it myself successfully (MoneroX GUI client crashed on me). I thought starting it from scratch with a new wallet and transfer the funds there, but I just dropped it since it's now working just fine... Would you recommend a migration or a brand new wallet/database? |
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I am not convinced the NWO is going to be as powerful as you guys might imagine and consume the entire globe in totalitarianism with billions dead.
Agreed I too share the same opinion. Too much has been accomplished so far to ruin it all with a great disaster; actually, I personally believe that the exact opposite is being scheduled as we speak in order to preserve the genetic legacy of our evolution thus far. The other scenario would have been, us turned into amoebas and have to wait for another billion years... well pardon me, but the Universe doesn't give a damn. On the other hand, we should... |
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Hmm, I`m not sure, wasnt the Pareto principle overruled by Nash theory? https://en.wikipedia.org/wiki/Nash_equilibriumI remember this from economics class from college, thats how he won his nobel prize. This deadlock we experience could be the equilibrium state. You're talking about the Pareto Optimality which is different to what I mentioned. See here. FWIW, on the subject you mentioned: Nash equilibrium is when no player in a game can increase his or her payoff by unilaterally changing their actions. Pareto optimal is when it is not possible to make any player better off in the game without hurting another player at the same time. For example, in the canonical Prisoner's dilemma formulation, the Nash equilibrium is not Pareto optimal. A lot of algorithmic game theory works on structuring the rules/payoffs of the game such that the Nash equilibrium is in fact Pareto optimal. via: https://www.quora.com/What-is-the-difference-between-Nash-Equilibrium-and-Pareto-OptimalityEdit:Again, there are successful paradigms for every single theory out there. Yes; even a communist village! One that prospers all the way since 1979! So, why do we have to inculpate a theory over its implementation? I'll tell you why; because it's us that we're malleably putting it to work. It has been this way since the beginning of time. Fool yourselves not. The liability is us. It was always us. http://www.theguardian.com/world/2013/oct/20/marinaleda-spanish-communist-village-utopia |
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