Obviously, no one is going to sell at such prices (this is called supply squeeze)

Well, unless some whale is forced to liquidate his stash for whatever reason. And then we can easily see Bitcoin crash to new local lows as it is not clear either how much support is underneath at the moment. But that's not my point. Even if there are no more sellers at this price, you will be surprised how many will pop up at prices closer to the 5k mark. It will take a huge surge in demand to cut through that resistance. And while we are at it, things don't look similar to the first half of 2015. But I seem to repeat myself

I'm curious what roadmap you refer to here

If this one, then I don't know who is more insane, the dudes who created it or the ones who they created it for. When I saw it, it was an eye-opener of sorts for me which let me clearly see that people behind Bitcoin Cash (no matter which one exactly) are in this business exclusively for money (or maybe they are even more insane than I can imagine)


How are these fanboys particularly different from Bitcoin ones if everyone of both camps was given the same amount of Bitcoin Cash coins at the fork?

I can tell you exactly what they want

They want Bitcoin to remain as it is (if it is not going to die on its own, which would be the best outcome for them). Just in case, Bitcoin as well as other cryptocurrencies is not illegal in Russia, and this is the way the authorities see it best at this time, i.e. Bitcoin remaining in the gray area. They can't openly legalize it because common people are likely to lose money with it, and then the government will have to deal with the consequences of that. But they can't ban it either because such a ban will be ineffective anyway


There is no such bill (as far as I know). What you likely heard were only empty threats and fearmongering

Failure to scale? What did I miss?

Don't we already have Lightning Network in the mainnet? Maybe, you actually wanted to say that it took so long to finally make it there, right? But it took even longer for these "early adopters" to wait until this has become an issue at all. If such people firmly believed in the technology for so many years, with all its bumps and hiccups down the road, they should understand that such things are not done overnight. And they should know it better than anyone else, apart from also being the most interested party in Bitcoin as a reliable, trusted and bugfree means of payment or store of value. The people you refer to are anyone but early adopters

I suspect this has more to do with how things stand right now in the cryptoworld

I don't think they would be making all this effort and spending so much time and resources developing their platform if they weren't sure in receiving the regulator's approval in the end. More likely, they have become less optimistic because they now see that there's actually not that much interest in cryptocurrencies as they first estimated. In other words, they wouldn't start if they knew in advance the current state of affairs in the cryptoverse. Perhaps, they expected much more adoption by this time

I remember those days too

Though not in the way you remember them. I recall Stunna announcing something like an increased free bonus here, on the forum, then you waited patiently the moment it started. It lasted only about five minutes or so (if my memory serves me right), but If you were lucky, you could claim it a few times. That is, you first claimed it, then bet with x100 multiplier. If you lost, you could try to claim the bonus again and play with it one more time. It was kinda official and legal back in the day

As long as someone's making money in the process, it won't stop

From my perspective, it's pretty much the same as with forks. Forking Bitcoin had been a profitable business for quite some time, with Bitcoin Cash being the most conspicuous example of that. Maybe, it is the way to attract private investors, maybe there's something else in this "ETF nonsense" which we don't have a clue about

Regarding the twins, they may fall into this category as well, i.e. they may be not so much interested in Bitcoin as technology as in money they can attract with it. Otherwise, why are they not paying attention to things that actually matter as you suggest? They've been in the business long enough to "do something useful that makes Bitcoin fundamentally better"

A lot of people are waiting for that rebound to come about

This is our new ceiling, get used to it. When Bitcoin fell below 12k in earnest (after a few short-lived rebounds), many folks here were saying that it would be a new ceiling. And it came to be. Now our new ceiling seems to be at 5k. Whenever price is going to come close to this mark, there will be a massive resistance as people will be selling what they bought just below 6k (which was a support a couple months ago) in an effort to get rid of their bags even at a small loss (or not so small)

The bottom line is that there are still a lot of sellers in the market despite the price looking "stable". But if they are not going to sell at current prices, it doesn't mean that they won't when the price rises to their break-even point. These are the weak hands that everyone talks about and thinks that they have already been shaken out. They haven't

This is what you get when you don't think out of the box (or just don't think at all)

And I don't mean doing anything which would be against the rules or otherwise shady. First, when you free roll, you get reward points (2 points for 1 roll, if I'm not mistaken). You can then exchange these points for a bonus which is added to your base amount. Further, you can sign up using a referral link of someone who is paying back to their referrals. For example, I pay back 100%, which means that on all your free rolls you get a 50% bonus at the end of the day (week). There are likely a few other things that I simply don't know about but which can help you greatly reduce your "withdrawal times"

This is just a theory

I don't necessarily disagree with it, but there is another theory which claims that the surge in prices was entirely artificial (remember 2013 and Gox times, anyone?) due to Bitfinex issuing new tethers like there was no tomorrow. So if this is what actually happened, you theory that "everyone had already bought" and "there were no buyers left" goes straight out the window as it was just Bitfinex stopping the proverbial printing press. If they didn't, we would likely see prices like 30k, 40k and so on, with no lack of buyers. Obviously, it would inevitably end in a catastrophic crash sooner or later anyway, but it is an entirely different matter

Weren't Bitcoin miners doing essentially the same thing in late 2017?


Hmm, it doesn't look like this

Well, while it doesn't look quite like this exactly, we still had to pay fees like 50 dollars per transaction by the end of 2017. But we don't have the European Commission (which is basically the EU government) to fine miners for abusing their "competitive advantage" (or monopolistic position, if you please). We kinda had to bite the bullet. Yeah, now we have Lightning Network but we no longer have high prices to make miners pay for the pain we had to endure thanks to them not so long ago

Somehow missed this interesting part

It is not only the requirement to hard fork that will hurt Bitcoin in case someone decides to add more privacy to it. We all know what happened to ZCash. I'm not very technically familiar with it, but as far as I know, it is basically a Bitcoin fork with more privacy in mind. And this privacy backfired heavily as a few regulated exchanges were forced to remove it because its transactions were hard to trace. Now imagine the same thing happening to Bitcoin once we have a similar feature introduced to it. So it is a double-edged sword of sorts

It is an open forum where anyone is free to comment anyone else's posts. So I don't mind if you do (or anyone else, for that matter). But you can choose to ignore me if you feel hurt for whatever reason (I don't mind either), though I can't honor your request, sorry for that

You may want to ask your questions in private to avoid the discomfort of someone else answering them

Stablecoins are neither here nor there

And hedging with partially covered shorts is the way to go (or via futures and options if you have access to these). This is not the old school (which it is), this is the right school. These stablecoins are a substitute for fiat, but it is not the same as fiat in your bank account. They are to give you a sense of being protected without actually protecting from systemic risks like exchange hacked, funds frozen, money stolen

I don't think he is actually offtopic here

The sad truth is that centralized exchanges turn this whole decentralized system into a centralized system too. As you might know, most of cryptocurrency activity happens at exchanges whether you like it or not. So you can't just choose to ignore them even if you are talking about the decentralized system as a whole. It is a fact of life, a part of reality if you please, which you simply can't ignore. If you, nevertheless, do, then the conclusions you draw won't be relevant. They will be fallacious and incorrect

And how is Lightning Network supposed to help here?

Will it make rewards higher or what? If Bitcoin ever goes to $20k, we will be back where we were a little over a year ago. Did people stop using the faucet back then? Besides, you wouldn't really expect the fees to rise as much if high prices re going to happen again precisely because of Lightning Network now in the mainnet. So for small people like us it shouldn't matter much, especially considering the fact you should have Lightning Network at both ends

With that said, though, I agree that introducing Lightning Network everywhere should help Bitcoin adoption as such. Therefore, it is a good thing on its own

You are looking at only one side of the equation

With Bitcoin it doesn't matter much because the other side, i.e. the US dollar, is by far less volatile than Bitcoin and its volatility can be safely discarded for most practical intents and purposes. But this is not the case with gold simply because gold is even more stable than the dollar (let alone Bitcoin). So when talking about gold volatility you should always keep that factor in mind. Simply put, in the majority of cases it is actually the volatility of the dollar in the change of gold price as gold is priced in dollars, not gold itself

Obviously, I meant the case where one is not gambling


So how exactly is this $50 threshold determined?

You see, the balance is shown in bitcoins, so no fiat is involved in the process, right? It looks like you have to take this balance and calculate its value in fiat. What exchange rates are you using and where can we check them? And while we are at it, it would be good to have an option or switch that would allow to see the balance in dollar terms - again, to see where one is standing with this threshold in mind

How do you know that?

Your assumption that people who sold Bitcoin Cash would have sold Bitcoin if there were no fork is completely arbitrary. I can just as easily claim that people who sold their Bitcoin Cash coins bought Bitcoin with the proceeds. Basically, the money that Bitcoin Cash provided was taken from Bitcoin's value (there's no free lunch), and the end result would be the same if all Bitcoin Cash holders dumped their coins and bought regular bitcoins instead

I meant if you had a small balance like 50k satoshi


But what is the lowest requirement for the balance to have the highest full base reward?

Or the requirement for the highest tier of the free-rolls payout table which should mean the same thing as I see it (for those who don't gamble)? You say that $50 balance guarantees the full base reward. Does it mean that it is large enough and thus doesn't depend on the ratio of total free winnings against wagered amount and balance? That is, no matter how long you play free rolls, your full base reward won't be reduced to 33.5%. If it will, how much should be added to the balance to "make life full again"? And after all, could you write that formula so that we always knew where we stand in respect to this reward?