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It's not that confusing.
If you don't hold your private keys, they are not your bitcoins. This means you are at the mercy of whatever the exchange decides. This could mean that exchange decides to
a) Do not list the fork. Which means they will receive the coins, and do whatever they want with the coins.
b) List the fork as BTC. This means that your actual BTC goes into the hands of the exchange, and they will do whatever they want with it.
c) The exchange lists both coins, BTC as legacy chain, B2X (or whatever else) as the forked chain token, so people can freely do whatever they want with the coins. This is what every exchange should do, since the market is free to choose what the value of each token is, with no confusion.
d) The exchange lists both coins, but lists the forked token as BTC, confusing newbies (so this is like c but flipped)
If an exchange is not following c), write to them and tell them to fuck off, then proceed to get your coins back to your wallet and don't use the exchange again.
In any case, get your coins out of all exchanges immediately before the fork, so you will 100% guaranteed have the coins on both chains regardless what the exchange you are using does. There's no risk if you control your bitcoins.
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All this talk of adoption but Bitcoin can't even scale yet. It would be hard to gain any serious type of adoption if something isn't technically capable to accomodate the demand. I could imagine the fees could go sky high in the current fee market system.
I guess wouldn't need that much scaling to deal with these type of transactions. In high finances like those, speed is not an issue, certainty is, and bitcoin solves certainty. Maybe at some point fees are high even for this end too. But in any case, the problem I see with this theory is, why would governments want to participate in bitcoin when big chunks of the supply are controlled by random people they can't control? I don't think governments would like that. So unless they start buying a lot, they will never have enough BTC for them to be profitable to legitimize Bitcoin at that level. |
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This would be amazing although given the timeframe I highly doubt it (but would be ecstatic to be proven wrong). Generally speaking moving averages may be a decent indicator but with not sure how that would be applied to BTC considering how it's not like any stock or share I've seen before.
Yes the prediction mentioned does look too over. I see the chance of raising the bitcoin price will not reach that way. bitcoin is different from the existing one, but in mathematics bitcoin is like a currency. so I think the bitcoin price increase would normally reach up to $ 10,000, but for the price of up to 27K for 4 months I think it's like just a speculation and beyond the limits of bitcoin power. But look at the spreadsheet that I posted above. $27,000 is conservative. For the technical analysis delivered by that data to be extreme it would be around $40,000. So who knows, if past performance is of any guidance, $27,000 would not be crazy. Consider that if we survive segwit2x and remain in the legacy chain with Core, there will be no more FUD so it's only up from then. November is the key moment. After that we will see accelerated growth given that Barry Shillbert and co don't kill BTC. |
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I've known Trace Mayer for years, he has been recommending Bitcoin publicly since it was very cheap, he is one of the original whales and really, really, really rich. He is pretty solid in his reasoning too, even tho sometimes I've seen him pumping some shitcoins most likely for a laugh, he is a solid bitcoiner.
His prediction is possible, consider that Ledger X could make the price explode, and in 4 months the 2x drama should have been solved too.
Trace Mayer is indeed a pretty interesting character. His tweets are pretty well thought out and give me a good laugh most of the time. I think his approximation here is a little too steep. Yes, Bitcoin has the chance to blast off, but I don't think it'll reach 27k in a matter of a couple of months. Even that is too fast for Bitcoin growth. Perhaps this value may come in the next few years instead. Well, when he predicted $3000 back in then before the halving, a lot of people were saying how he has insane and delusional. Sure, $27k sounds nuts, but it's not out of the realm of possibility, it's just a prediction based on past performance, he didn't say it would happen, it's just a calculation based on past tops and 200 moving averages, and according to his calculations, it wouldn't even be the most extreme approximation, it would be even higher if you take the more aggressive approach (very overvalued):  |
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sorry friend ,, i want to ask often i hear the word pump and dump in bitcoin ,, maybe some one would explain to me ,, what is the meaning of both? and what is the relationship with bitcoin? does it have an effect on bitcoin?
This is jargon for trading. Pump: To make the price go up with news, usually irrelevant news, that are sensationalist and not really of substance, but are spread just to trigger people into buying, even if they are fake. Example: The fake "Amazon is accepting BTC in X days" news is a fake pump. Dump: To sell after the pump. That's basically it. A "pump and dump" coin is basically a shitcoin whose only purpose is to get pumped, then dumped. You can make money out of these, but most likely you will end up bagholding. Additional term: bagholding: To hold a coin that keeps stagnating in price. |
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I've known Trace Mayer for years, he has been recommending Bitcoin publicly since it was very cheap, he is one of the original whales and really, really, really rich. He is pretty solid in his reasoning too, even tho sometimes I've seen him pumping some shitcoins most likely for a laugh, he is a solid bitcoiner.
His prediction is possible, consider that Ledger X could make the price explode, and in 4 months the 2x drama should have been solved too.
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Looks like an /r/btc nutjob. Who is this guy anyway? Can't be bothered to read across his world salads, but it doesn't sound good in principle. The whole point of bitcoin is that it is open source, and it follows certain rules, which cannot be broken without 100% consensus otherwise you are creating an altcoin, everything else is a waste of time and im not bothering reading these walls of text so if you want to give a TL;DR go for it.
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IF there was a war and I needed to flee the country, which asset do you think would be easier and more secure to transport?
This is what goldbugs don't get. I still don't understand why Peter Schiff and his orde of fanboys still can't see the benefit of bitcoin when you will need to cross a border and carry your wealth with you. Can't they realize the fact that if they try to cross a border loaded with gold they will confiscate all of it? what's up with these bunch of idiots? I guess they are all very old people and can't fathom the unquestionable benefits of BTC over gold. |
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If the blockchain is not synced, how are you going to see any confirmations? You don't have data for the current network status yet.
I don't think that's how it works. You should be able to send coins if the coins you are sending are spendable (enough confirmations). I have confirmed something is wrong because the node is now fully synced and the transaction still has a "?" icon and has the "Status: 0/unconfirmed, in memory pool" message when double clicked. Nothing happened when looking at the explorer too. The fee was the recommend one by the wallet. I could try -zapwallettxes (which is annoying since it takes a long time) and try sending it again but I don't get what went wrong. |
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Coinbase delivering instant purchases of bitcoin is definitely bullish, but im worried about the segwit2x hardfork. If Coinbase support segwit2x, all these noobs are going to be thinking they are buying Bitcoin but they will be buying B2X.
Once B2X is dumped and the price crashes and BTC recovers, those exchanges that list BTC as B2X, will be liable for major loses and confusion.
It sucks that we have to go through this again. The hardforkers don't get tired of getting defeated. Bitcoin will not fail.
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I made a transaction while syncing a full client and it seems to be stuck at "Status: 0/unconfirmed, in memory pool".
This is an altcoin im dealing with, but since the full client is basically a fork of Core 0.14.2 I can still get technical help here.
The coins I sent were confirmed and spendable, they are old transactions. I thought that you could make transactions without syncing the blockchain as long as the coins you are attempting to spend are confirmed, which is the case here. In fact I think I have done this before in Bitcoin Core and the transaction got some confirmations before I was fully synced, but with this wallet im stuck.
Any help?? should I just wait for it to sync and hope it gets broadcasted?
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It depends to you sir if you want to hold or sell your bitcoin. Its better to make a resesrch first check the market if they have many buyer until now for sure the price will continue to increase and you can hold it. But if you want to sell I suggest its better if you sell the half which is 1.5 bitcoin and the other half will hold to make sure if the price increase you will earn profit again. I hope you decide what you next gonna do.
I would not sell in this situation and wait for the split. Then you can get the same amount of Bitcoin Gold. After the split, the price of bitcoin could rise sharply, many analysts say about it Analysts are right and they promised that it will reach to 20,000USD soon because bitcoin has promised it's users which is quite true so i would suggest to hold our coins and wait for the right moment then let's go for withdrawal and enjoy to become a millionaire. Once we reach 5 figures a lot of people will be tempted to sell and get a lot of fiat, but since bitcoin grows in exponential grow spurts, you may think you made a killer deal only to find out you wake up with a growing price non stop at what you expected to be a psychological barrier that would lead to a correction. Currently, ultra rich investor Trace Mayer called a $27,000 prediction in 4 months according to past tops and 200 moving average behavior. I think we are going to go higher than most expect and people that sell will regret short thereafter. |
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Seems interesting. But im usually hesitant when suddenly a bunch of threads pop up about the same coin claiming it to be the next big thing. A pump and dump coming? Or me being paranoid? Even if the project is great the market can still be manipulated.
It's saavy to be cautious when a coin gets hyped, but im just pointing out the facts. As an altcoin, if you want to compete against bitcoin, you need to: 1) Have a technological improvement so big that it becomes a treat model for the BTC status quo (people would find it safer and so on) 2) That you have massive merchant adoption Monacoin obviously doesnt introduce anything remarkable at a technological level, but name me another altcoin that actually gets used in shops, websites, for tipping etc. Im not saying go buy it right now, it was a buy when it was flat (as all investments), now it's yet to be seen if the growth can be sustained, but I would keep an eye. Japan is releasing their own crypto currency for 2020's olympic games and Mona may pump heavily again. |
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Monacoin turns out to be a huge coin in japan with cult-like status. They have their own shops, own social network, and own stemit. There's a big following of japanese people there that don't use your usual reddit, slack etc. With japan becoming the leader of crypto adoption, I wonder how high it can go. https://www.ark-pc.co.jp/https://monappy.jp/http://askmona.org/http://mona-coin.com/It has a supply of 54,000,000 total coins, the price is still low if it becomes an actually used coin (unlike 99% of the rest of the coins) |
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Would there be enough money in the exchanges? Would bitcoin fail?
If EVERYBODY wanted to dump all their BTC, the price would go to ~$0/ BTC... So yes, in this case there would be enough FIAT on the exchanges. It's all supply and demand. If the supply is huge and the demand is 0, the price goes trough the floor. It's not clear to time if exchanges would have enough liquidity to meet the demands of such an insane sell off. I mean it's not even realistic. We are looking at a $94,323,939,141 marketcap as of right now. Are you saying bitcoin exchanges would have that liquidity ready? I don't think so, they would probably be facing bankruptcy. If bitcoin goes to $0, their whole business is a failure because they bet on something that failed. Luckily for us there is no need to worry about that, that will never happen. |
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So at the very moment that you will read this people, press the bookmark of your price check at your browsers as of the moment price is at $5,107. And there's more to come, many says it can go up to $6,000 - $10,000 for this year I'm very excited to see the rally of this bullish momentum for bitcoin because of the two forks to come. Let's welcome bitcoin as it reaches another ATH - "Bitcoin fraud" "ICO ban" and everything that was told and tried to tell people that bitcoin is on the bad side seems to be effective and made it pump. Any speculation that will be reliable for the end of the year?
Bitcoin has finally stopped listening to any kind of FUDs be they coming from unknown prophets of gloom or famous personalities from the finance sector who are afraid of what Bitcoin can do to their industry. Now, it is time to celebrate as finally we officially arrived at the 5K level and maybe there can be more for this month before we head to the holiday season. No bad news or gossips of bad news can affect the surge of Bitcoin. Having said those words, we would be watching whether the coming scheduled hard fork can have any bearing on the rocket growth of Bitcoin. As much as we want the market to ignore the bickering and mud slaying, we could not deny that these might really have some effect on the movement of the currency as reflected by market forces. Will Bitcoin be able to reach $7,500 before the year ends? Well, I would be celebrating if it does. Haha prophets of doom, those people that spread FUDs are really something that irritates me but still thanks to them because they contributed very well on those news that brought people to love bitcoin. Right now I was quite surprise that just a day has passed and we are now at $5,700 that was really one quick pump just like on how we did passed $2,000. We are now heading to $6,000 and it's really possible that we will see bitcoin landing at $10,000 for this year before it ends. HODL! I wonder where kwukduck is at. He was, of course, predicting a bear market a couple of weeks ago. Now we have finally broken the $5000 psychological barrier and we are officially closer to $10000 than we are to $0. FUDsters of all types keep getting proven wrong. I also remember prodhon as one of the biggest FUDsters, I remember that guy, he has been here since 2011 predicting crashes that never happened, how ridiculous. These guys must have sold tons of BTC for pennies and are now mad as hell. |
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It's hilarious to see China banning all exchanges, then only to find out weeks later that China is supposedly still driving up massive amounts of volume. The guys at PBOC must be kicking themselves, and im assuming that this is not al part of a conspiracy where they always knew they would eventually lift the ban and enjoy the gains (since they would have bought the dip heavily OTC while their citizens weren't allowed to do so). Im actually pretty sure something along the lines is happening. Im damn sure throught 2018 if not before, Chinese citizens will be able to trade again and the price will keep going even higher due these news. |
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Right now, I'm not exactly sure what to think of the surge to ~$5800. These are the points I see in favor of it not being related to upcoming forks:
1. There has to be some newfound confidence in the market that we've gotten past China's issues.
2. You usually see some follow-through in a strong move that breaks to new highs.
3. Bouncing off $3k so quickly probably left a lot of traders hoping to get in (or get back in) around $3k. And if they've been waiting for another drop to that level, the break of $4500 confirmed that that probably won't happen (any time soon, at least), which may be leading to a lot of panic buying.
But there are some things that make me wonder if upcoming forks may be playing a significant role:
1. As I said above, I would expect follow-through on a break to new highs. But ~$1k in 24 hours, which is about a 20% increase, is a lot, even for bitcoin. I think the break of the previous $1100 high was part of a move that was only about a 10% increase. This makes me think it's more than just a break of the previous ATH.
2. Except for LTC, which seems to be an anomaly, almost all of the other cryptos are down double-digit percentages. This suggests that a lot of people are dumping other cryptos to buy bitcoin. This is a big change from earlier this year when everything was going up together. This demand for bitcoin only makes me wonder if people aren't starting to hoard for extra forked coins.
Im still trying to figure out why LTC is going up after segwit was also enabled on BTC. What distinguishes LTC from BTC anymore, other than their software is outdate because they are several Core versions backwards? But anyway, if you look at the graph, LTC is not going up against BTC, only against the USD, and I want to increase my BTC, not USD. Not a single coin seems to be going up against BTC anymore. https://coinmarketcap.com/currencies/litecoin/ |
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I expect further highs. My technical analysis points to a soon capitulation of the current triangle, so something will happen in about 10 minutes, if it goes below $5580 we may dip for a while, if we stay above this price and we break the triangle upwards, I expect another pop to happen to a retest of the previous ATH.
Don't forget that the bullish pressure for the forks is still active until November 18th, then we will find out what the hell is going to happen after segwit2x, for now we will enjoy the ride upwards. Hopefully segwit2x crashes hard and we can go for $10000 short thereafter.
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Dude, seriously... The last 30 minutes have been a real roller coaster ride, I wouldn't be surprised if we saw $6000 by the end of the day, and I'm typing this after the correction from $5920 to $5700
Yep, the FOMO is real. The good news of f2pool dropping support for segwit2x was very bullish, and Wall Street with Ledger-X coming is insanely bullish too. Everyone that didn't buy BTC wants to get in right now and are waiting for a good dip, so im feeling safe. Any nice dips will be bought by smart money that understood the importance of holding bitcoin. Oh and I didn0t include BGold in the bullish consensus, but im sure it plays a role too. People love the idea of receiving "fork dividends" holding BTC. |
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