What with all our current action it's odd how rarely commented on it is that China is a goner for now. Who'd've thunk it just a short time ago and that elsewhere would shrug it off?
What form will the Chinese market take when it's reactivated? Will it not be reactivated at all? Will the PBOC kindly take charge of everyone's BTC and give them tokens to play with? Have the Chinese with coins remaining buggered off to Japanese markets? Will this affect mining eventually?
Give us your speculations.
China still has the mining monopoly with that nasty Jihan idiot, but the price no longer cares about china, just like nodes don't care that Jihan is not aiming for segwit, cause more and more nodes are pro-segwit. I expect outside pressure will make china irrelevant in the game sooner or later. Their only strength is cheap electricity, that is ALL. |
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And please, understand that i don't mean that the price will immediately pump to $10,000+, im just saying that if the SEC approves ETF (and it will, if not on 11th, then the next time, it will happen eventually) we will see new, never seen before, streams of money coming into bitcoin.
I don't know if you understand what ETF really means. This is huge for the non-geek investor to hold bitcoin. It will be possible for anyone to go into their local banks, and tell the employee to but you some COIN shares, anyone can do this. Once people get gains with that, it will spread, everyone can get in with no technical knowledge about bitcoin in a safe, regulated way. So all those old millionaires, or your regular person that just wants to hold BTC but isn't really sure how to do it, will be able to get in thanks to the COIN shares. Of course I personally recommend people to learn how to buy and hold actual BTC, but we can expect everyone to do that and COIN will be 'it', the missing link to get the average investor that is not into cryptography/computer stuff. This means potentially billions of increase on the marketcap. With some time price going x10 is perfectly plausible. How long it will take? I don't know, but it opens the door for that possibility to happen.
I think even without ETF Bitcoin will reach $10,000 if we are talking about the long term price of BTC. Having all the issue with Bitcoin fixed or solved, Bitcoin will eventually get there at $10,000 a piece. But if ETF will be approved, it will hasten Bitcoin to reach that price because of the massive investment pouring in the Bitcoin economy. Yes, ETF or not, the price will tend to continue going upwards forever due the deflationary nature of bitcoin and the fact that its properties will keep getting increased demand, but having an ETF which allows a lot of people to get in the game without being technologically savvy is a great way to get things going faster than predicted. |
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I havnt seen this posted yet so i thought i would put it up, it is a great debate on scaling. Johnny makes some great arguments for segwit and the core side of things. and to be honest i can understand rogers point a little better now to. It is clear to see that he still loves Bitcoin and wants it to work. https://www.youtube.com/watch?v=JarEszFY1WYI have watch the video but still my mind did not change and I am still in favor with rogers idea. Staying with bitcoin and find solution and not relying on other parties to solve the problem. Miners can work out a solution to the current mining and confirmation problems on the bitcoin network without relying or resorting to segwit and LN. Given that BUcoin is a scam, the only way to scale anywhere notable is through segwit and LN. If you don't want that, then bitcoin remain as it is today (gold 2.0) and not a global currency. Im ok with it. I would rather have gold 2.0, than bitcoin ruined through roger ver's delusional antics. |
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I think I have decided to try some luck by converting to USDT then buying back. Of course.. the question now arises: When it's a good time to short? and by short I mean selling to then buy back later.. none of that leverage shit, can't deal with that)
Im considering various prices but I always think it will keep growing. I think I can't do this, it's better that I just hold. I don't want to be stuck holding useless USDT.
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BTC to USDT is the only way to go. Why don't you like that option?
Indeed it seems like the best option, but I was considering withdrawing from the exchange and holding in a local wallet to not be expossed in the exchange while I wait for the right price to buy BTC back. Can I hold USDT locally so in case Poloniex goes MtGox I don't lose the money? |
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For example, you want to sell a small amount of BTC, then wait for a dip, buy back more BTC, and this without having to give all of your personal details to an exchange in order to deal with fiat.
So im looking at 2 options:
1) BTC to USDT
2) BTC to high volume alt (ETH?)
That's all. What else is there?
It's just for small and quick movements, so I think I will not bother with even getting the USDT or alt out of the exchange, even tho I will be paranoid for the couple of days that im out of BTC tho, holding it converted in something else in Poloniex.... so i would like to have the ability to withdraw locally too
anyway I would like to know how to do this.
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It's about reaching consensus between all actors:
1) Node runners
2) Miners
3) Merchants
4) Wallet developers
that's basically it as far as I can tell.
So right now he situation is, 65%+ of nodes are pro segwit, we got a ton of merchants and wallet developers being pro-segwit, but only 25% of miners are signaling for segwit activation, so we are looking at a situation were the majority of actors except miners want segwit, so we will see of miners finally start collaborating and signal for it to activate it.
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Were they going to invest in the first place? I highly think not.  yet trillions were thrown at the dotcom bubble at a time when not very many people understood how huge the internet would become. and they certainly didn't understand how shitty the companies they were throwing money at were. bitcoin is of course not a stock and very different in many ways, but there are parallels. I think in a way bitcoin is a stock, or like an asset, an "internet protocol asset". It's like being able to buy shares of the TCIP/IP protocol, back then you couldn't so people were limited to buying good websites. I can imagine some guy buying a site like bodybuilding.com. Nobody gave a fuck back then, but now a simple forum like that is worth millions. This is the same, but now we can buy the protocol itself in the form of BTC units. |
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I have been seeing this guy popping up on youtube a couple of times, some good videos, some bad ones. I think he makes too many videos, but I guess that's what works on youtube, the more videos the better. He needs to get rid of that haircut in any case. |
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I can see future ETF's being made for other coins too, why not for ETH? or Monero? we'll see. Of course BTC will always take the lead, but the more the better, money in volved in crypto helps BTC too.
Also Switzerland will become a retirement place for the future bitcoin millionaires, I can see it becoming a bitcoin haven.
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I agree with you that we will see an significant rise when its aproved. But it will not happen in march. So we we will see an significant dump in march. And i am fully prepared  But when it is aproved we will see 10k easily within a year. What makes you think that we will see a dump? You think it will not get approved? Let me remind you how Brexit happened against all odds, and Trump happened against all odds too... So don't be so sure, if you short you may lose your coins quick. |
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Time for another round of profit taking if we hit 1200$.
Not really, it's impossible to know, and I don't really care. If we go down, that's great news, it just means we have more time to keep aiming for our bitcoin goals. If bitcoin keeps going up, I will never be able to reach the 21 BTC goal. If it goes to the moon, well it's good, but it sucks cause I want 21. If ETF passes we will go 10,000+ |
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What is the best way to go from BTC to something else then buy the dip and go back to BTC without having to give all of your details to an exchange? (so without touching fiat)?
I can only see two options:
1) Buying a big volume alt like ETH
2) Buying USDT (good volume in Poloniex)
What do you think?
I would like to gamble about a correction happening with a small amount and buy back in.
For a small amount buying USDT on Poloniex is a better way to do it. It's less volatile and doesn't entail any unnecessary risk. Buying ETH has that risk. We will never know when another DAO-like attack is coming. Indeed, the problem is you are still exposed to the exchange, with ETH I could be able to hold locally by keeping them in a wallet for a couple of days before I go back to BTC. Im not sure if you can do this with USDT somehow. The more you are exposed to an exchange the better. |
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Personally I'm now less prone to do a btc transaction since the fee market has exploded and blockstream/sidechains aren't really available currently. I was enjoying speding btc with sites like humblebundle, but currently is really a pain. It's just me or you are on the same boat?
Not really, I always treated bitcoin as gold, since I can buy anything I want with fiat so why would I bother wasting bitcoin on stupid crap I don't really need when it will only keep appreciating in the future? Fiat = mundane shopping Bitcoin = savings |
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Is it a coincidence that this happened right when bitcoin was shattering throught the ATH?
Anyway, as far as I know we are safe for years with SHA256, or satoshi said so some years ago, he said we wouldnt see a SHA256 collision in our lifetime.
Yeah that's funny it happened the same day but I don't see how this could be related And hopefully we won't see an SHA256 collision in our lifetime but you never know, it may have a major flaw discovered in the following years Here the team founds an algorithm 100000 times faster than bruteforcing If a SHA256 collision happens what is the worst scenario? I think I would have a hearth attack or something. How would the Core team proceed in order to make the switch to a safe algo? Would it be an absolute fuckfest or it is a smooth process? Because I presume we wouldn't have a lot of time to waste being exposed with SHA256 through the transition. Could anti Core trolls or just bitcoin attackers in general try to delay the switch or somehow block it? I hope those things are properly planned in the unfortunate even that happens otherwise im not going to be able to sleep ever again. |
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If you like to gamble you can do this on bitfinex as well. the usd will just sit there since you need to be verified and give them info to withdraw. but bitfinex has been known to steal your money
Bitfinex allows you to deposit bitcoin without sharing any amounts of data? Well, I guess that would count as another option, but doesn't sound very appealing if you say they are known for stealing your money... So we got 1) BTC to USDT in Poloniex 2) BTC to fiat in Bitfinex 3) BTC to a big alt What's your take on this iamnotback? I just would like to know, what would be the best way to go out and back into BTC to try to profit a bit from dips. Sometimes I feel like a gambling a bit. For example I felt like it would correct when it reached $1,200, and wanted to rebuy back at $1,150, but since I dont know the best way to do this, I didnt do nothing. |
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Let them do their little trading, meanwhile long term holders have made more money than all traders. Daytraders always lose in the long term, it's like pretending to win in the casino, they are idiots.
So keep buying the dips and keep holding long term to win the game.
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Can you really be sure you will profit unless you have insider info?
Isnt it obvious? trading is educated guessing or educated gambling, however you want to mention it. We know bitcoin will keep going up, but everything eventually corrects, the question is WHEN. We can't really know, only speculate. You may think it's now, and it may climb up to $2000. |
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Is it a coincidence that this happened right when bitcoin was shattering throught the ATH?
Anyway, as far as I know we are safe for years with SHA256, or satoshi said so some years ago, he said we wouldnt see a SHA256 collision in our lifetime.
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What is the best way to go from BTC to something else then buy the dip and go back to BTC without having to give all of your details to an exchange? (so without touching fiat)?
I can only see two options:
1) Buying a big volume alt like ETH
2) Buying USDT (good volume in Poloniex)
What do you think?
I would like to gamble about a correction happening with a small amount and buy back in.
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