You'd be surprised how many people would be mislead by jokes like these and end up thinking that 'high' or 'unlimited' block sizes are a true possibility. The primary result of those is the lack of knowledge, or false knowledge. I do have to admit that the image has a bit of humor to it.
"640 kB ought to be enough for anybody" - Bill Gates ... and look at us now.  I'd call false analogy on that one though. The blocksize is too big if it does not allow for users to run their own nodes in a decent computer. It's as simple as that.
It's not as simple as that. What does "not being allowed" to run nodes on a decent computer mean? I've seen a lot of people throw around words without actually backing them up with specifics. Does this imply a lack of storage space, an inadequate internet connection/bandwidth, not being able to validate on time? I do recall a presentation where the potential of 'never being able to catch up' as a new node as presented (I think this was Hong Kong Scaling 2015). Just common sense. When the computer is struggling to run the node then it's not viable. If you are not able to work with your computer while you have your core wallet opened, then it's not viable since you would need a secondary computer. Why does everyone need to run a full node? See section 8 of the bitcoin white paper. Even Satoshi viewed full node operation as a business activity. If you didn't sign up for Satoshi's vision, what exactly did you sign up for? It sounds like you're rather have a toy than a tool for stopping banks from leaching from hardworking citizens via government bailouts. That is first and foremost the mission of bitcoin. Just look at the timing of its creation and the message encoded in the Genesis block. |
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How are you guys with Bitfinex withdrawals? Any of you got your money out of that mess?
According to coinmarketcap Bitfinex had a 38000 BTC trading volume in the last 24hrs
That's really nothing for finex
It took 9 hours but my withdrawal came through. I made it out with everything I put in - 0.05 btc. I lost quite a bit of profit, but this worked out much better than how gox went down. Luckily, I don't keep much in exchanges anyway. |
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The only fact Op confirmed by putting all these charts is that bitcoin is volatile and there are ups and downs.
And why BTC exactly it is dead again? I didn't see anything point to this conclusion at all :/
Seriously people, please stop with this BTC IS DEAD, FUD alredy.
the massive fluctuations in the currency’s price, lead people to say that bitcoin is dead. While the currency can’t exactly be labelled as dead. the price has gone a little down than expected that’s for sure but the currency has rebounded somewhat and is still receiving attention from a number of business entities. |
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Um.... why is the reward on the last two blocks 16.66666666? Did someone forget how to divide by 2?
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Nobody is going to take you seriously when you post crap like this as 'confirmed data' or lame ass charts that contain 0 information in them and can be the total viewer count for teletubbies last night for all I care.  Why would you assume he wants to be taken seriously? It's just Proudhon clowning around as usual. He provides some much needed comic relief around here. You missed the comedic relief found in my post in your haste to say i missed his. Its plainly obvious that this is a troll thread.. Nope. I read it all again... you're just not funny  . |
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Damn, this is one fucked up thread. Seems this forum is filled with no brain ignorant fucks. People have been killed, Black , white, green does not matter. We have big problems in the world and we need to keep calm and not let the fuckers that want us to live in chaos win. They profit on our fears. Being self thinking and not dependent on bullshit government is one of bitcoins fundamentals .
hey newbie i'm a devote christian, but keep your soul for other activities than speculation. Risks in USA and all around the world are interesting to study, so stfu. In fact as I think this situation is pushing Btc price on the short term but on the Long term i'm against a race war and Obama staying. Im totally for a Hillary or Trump presidency because the crazy bitch or man will pull the world economy in such a mess that btc will be the only viable safehaven for many years and a 2K price will come in sight. Please don't invoke the name of Christ to justify your actions. It's not exactly loving your neighbor when you use racial slurs. |
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Nobody is going to take you seriously when you post crap like this as 'confirmed data' or lame ass charts that contain 0 information in them and can be the total viewer count for teletubbies last night for all I care. Why would you assume he wants to be taken seriously? It's just Proudhon clowning around as usual. He provides some much needed comic relief around here. |
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Mat, you're not making any sense. China isn't going to do a damn thing to upset the apple cart. If they fork it, bitcoin ceases to be universal, and that is not in their best interests. A unified decentralized bitcoin is the only workable solution, otherwise its just shit, as you point out. And FOR THAT REASON, China will do nothing. You can stake your life savings on it.
The Chinese Bitcoin Cowboy's aren't going to do anything to intentionally break Bitcoin, but their government might, should they see fit to do so. If one day, the PBOC decides that Bitcoin is a bad influence on Chinese finance or society, they could just turn around and kill it on the spot, or if they are feeling charitable, give the miners and users of Bitcoin 3 months to get themselves out the game. I am not saying that this will happen. I am saying that it could happen. And the very fact that it could happen, puts Bitcoin beyond the pale for any serious capital chasing anything other than high risk, short term gains. Gold it aint, and never will be. Seems, you do not understand that bitcoin is a private key. If you shut down miners in china then they will emerge in other place. There is not government that can move your bitcoins. Maybe china can shut down miners but for how long time ? (2 hour, 2 days. 2 weeks ?) China stopping mining would be a huge boon. Hardware would be sold off to operators around the world. There would be a few weeks of disruption and then the China centralisation concern could be killed. China would be out of the game and bitcoin would continue just fine. |
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Fuck Bitcoin, here is a chart that I fucking love:  And if all the time and energy I have put into fucking around with Bitcoin has taught me one thing, it is that at some point, it is wise to expect the totally fucking unexpected. Gold shouldn't be doing this. 'Deflation' is upon us. But the fact that gold is doing this, may suggest that the global financial system is heading towards a shitstorm of fear. When capital fears equities, and no longer trusts governments, only one place left to go. From a 'traders perspective', gold is an absolute horrible trade right now however. Entering now would be total FOMO market chasing.....mind u, I remember thinking that about Bitcoin as it broke $580 last month. It is quite a bit different than the last cross... That one was a gentle rise out of a stable period. This is a hard bounce after a hard fall. Gold is still in consolidation. It could go quite a bit higher in the short term, but it is not ready for a real long term rally. |
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This post belongs in meta, not speculation.
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Strange patterns forming right now. Might be due to "the halving". Maybe we wont see a consolidation till December after all.
Maybe not till December, but we will most likely fail to make new highs on this run and have another sizeable down leg before we can have another serious run up. |
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So you guys think we are entering another 6 month consolidation period?
Kill me now.
Seeing as how we've been rallying for a year it is not unreasonable. But this market is so tiny it could moon at any time. Dollar cost averaging into a long position is still the best way to play this market. If you follow that strategy, a consolidation period before the next run up should be a welcome turn of events. If you are overleveraged, I'm sorry. There's a good chance you will have an opportunity to sell higher than now, but don't be surprised if it doesn't happen for a month or more. If you want to trade this market make sure to watch the daily/weekly charts, not the 15 minute charts. Patience wins this game. Emotion will wreck you. |
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MasterLuc, I had a very similar count, but then a community member (same as usual) highlighted an issue with it. how can you count five waves in the i waves without breaking overlap rule firstly, and also without making the third wave the shortest??? I tried very hard to do so, but rules were consistently broken...
I dont see overlaps and 3rd shortest in my count I really don't know how you counted, only the first daily candle ruins all my counts:  Just a newbie trying to learn from approved members  maybe you just didn't start your count from there, but then my corrective count from last 1200$ pump is also wrong  Wave i didn't start until June. Before that was part of an extended correction. Such things happen when price goes as wild as it tends to do in Bitcoin. |
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Market state: consolidating after major rally.
The turning on a sixpence and rapid reversal you speak of look completely insignificant if you zoom out past the 15 minute charts.
Maybe you just need to do better at keeping the bigger picture in mind.
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The halving is already well calculated into the current price. It's actually quite overhyped because of it.
It doesn't matter. There is a huge hype around the actual date, and also we will have segwit soon and more new stuff. We are only going up. You seriously believe that segwit crap? We've been promised a solution for years, it never happened and development has never been as dead as it is now. Segwit just got merged this week. Crap or not, it is coming. Can someone explain Segwit to me please? In simple terms. Thanks in advance. It will able the system to handle more transactions. In the long run, yes. It does decrease long term storage costs. It does nothing to increase transaction throughput and has been a giant distraction from real scaling efforts in that area. |
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The halving is already well calculated into the current price. It's actually quite overhyped because of it.
It doesn't matter. There is a huge hype around the actual date, and also we will have segwit soon and more new stuff. We are only going up. You seriously believe that segwit crap? We've been promised a solution for years, it never happened and development has never been as dead as it is now. Segwit just got merged this week. Crap or not, it is coming. Can someone explain Segwit to me please? In simple terms. Thanks in advance. Segwit or segregated witness is a restructuring of bitcoin transactions. Transactions consist of two parts: the actual transaction (inputs and outputs) and the witness (signatures for each input). Segregated witness separates out the signature portion to make that part easier to discard after it is verified. |
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The halving is already well calculated into the current price. It's actually quite overhyped because of it.
It doesn't matter. There is a huge hype around the actual date, and also we will have segwit soon and more new stuff. We are only going up. You seriously believe that segwit crap? We've been promised a solution for years, it never happened and development has never been as dead as it is now. Segwit just got merged this week. Crap or not, it is coming. |
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Back to fundamentals
There are about $43.7MM swaps borrowed just on finex. Conservatively at current daily rate of 0.06% That's $2.6MM just in daily fees only on Finex
Check your math. Hey, $26,000 is pretty close to $2,600,000... |
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So what's happening with wave 3 now? Still valid?
I believe historical 3 is still valid, however, we will likely have a multi week to multi month correction play out as we build a base for the next subwave up. Unless we can get the weekly candle back above the upper bollinger band within the next 6.5 hours, this wave up is likely done. |
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Right, so since we're on topic how many gun related deaths happen in US and how many in France?
Banning cars could markedly reduce the incidence of death by vehicle. But beware, someone might still be able to buy a multi-tonne missile (car) on the black market tho. Personal liberty and responsibility has its blood price. Same for the lack thereof. If cars were specifically designed to kill people, as guns are, how long do you think it would take for them to get banned? That said, cars are one of the most highly regulated consumer goods in US. One needs a license to operate a car, the car itself must have a valid vin & be registered, inspected yearly, and, in most places, insured. The car must comply with all sorts of DOT regulations (safety equipment, emissions, etc.), and draconian traffic laws (speed limits, can't drive drugged/drunk, can't run stop signs, etc.). I love both cars and guns to bits, and don't mind ridiculous analogies, but let's be real here. *The volume is rather disappointing. We have only so much time to capitalize on brexit, and that window is closing fast. @yefi, The UK may have committed 'an act of economic self-harm with global ramifications'No need to run away from home just to hurt your father  1. Guns are far more often used to kill food. 2. Non of those vehicle regulations apply to farm-use vehicles. They only come into play if you want to take you vehicle onto public roads. 1. What do you hunt with a handgun? Or an AR, which is what's being discussed here? No one is trying to regulate shotguns or hunting rifles. 2. Farm-use vehicles are used to make food. Think shotgun, which I could buy in many states by walking into a store and showing my ID. I can also buy an AR by simply walking into a store and showing my ID. @yefi, well yeah, self-harm is like that, you can't bring back suicides. I guess that's a win in your book? Well than talk about assault rifles, not guns. There was no mention of AR15s or assault rifles in to post I was replying to. You'll have much better luck if you don't lump all guns together. |
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