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4701  Economy / Speculation / Re: WALL Observer : BTC/USD price tracking and discussion (Phoenix Revision). on: July 02, 2017, 11:07:30 AM
I've always thought Google search trends are an underrated way to measure hype.

Bitcoin search trends right now are showing the apathy that some of you are talking about:  https://trends.google.co.uk/trends/explore?q=%2Fm%2F05p0rrx.

However, the cryptocurrency trends and blockchain trends have not been acting in the same way.  This could imply that users this time around have matured about the technology, and potentially that the speculation is less feverish (a bullish sign in the long-term).
4702  Bitcoin / Bitcoin Discussion / Re: The Barry Silbert segwit2x agreement with >80% miner support. on: July 01, 2017, 08:31:23 PM

My fear is that the bulk of the bitcoin users are so dumb technologically that they will just use whatever Coinbase and the other big websites are using. Then you have all those sites and 80% of the hashrate (according to NYC agreement) approving Garzik's coin code... isn't that a problem?

Decentralization will be the end of bitcoin it seems.

Everybody is free to propose anything. If 80% of the miners decide to fork off, they'll have bitcoin. If %10 of the miners go UASF, they'll have bitcoin either. If %10 the miners do nothing, they'll also have bitcoin.

Bitcoin.com will say theirs is the real bitcoin,
Bitcoin.org will promote their code,
And so on...

The end is near. Abandon ship.
I disagree.  All those people would have Bitcoin, but the majority chain would end up having the merchants and economic support.  There is a kind of herd movement, and that majority chain would still be decentralised just like the original Bitcoin has been for the past nine years.

Every time a bear market is looming (like it could be now), you'll see plenty of people creating reasons for why this, in particular, is dead or not worth as much as it is now.  Personally, I think that it's mostly wrong and that in a few years we'll be on a new problem that doesn't matter either.

The funny thing is that all those people who "called" the bear market will say "I told you so" when it starts going down... but they'll act mysteriously silent when it starts going way up again.

The bottom line is that the end is not going to come for a very long time, and that these are early days.  We're all waiting for something to happen, and something will either happen or it won't but either way, most of us will end up following along with whatever happens instead of confining ourselves to some little chain with 10% hash rate.
4703  Bitcoin / Bitcoin Discussion / Re: We won't have the people's money on: July 01, 2017, 08:19:19 PM
One of the main goals of BTC is to be the "people's money" which cannot be controlled by central beings.

But there is a fundamental problem which will prevent it to be so: it lies upon the Internet, which is something controlled by governements.
Indeed if the free economic exchange enabled by Bitcoin can in some way bother the elites (Rotschilds, Rockfeller, Soros and their friends), what prevents them to just force all ISPs in the world to block all P2P traffic associated to Bitcoin ?

Remember that the Internet is just a buch of interconnected ISPs and universities , which in turn are controlled by the governement and must obey the laws.

If we don't have the people's communication network , we can't have our money system.

I am sure its one of the things Satoshi's must have put into consideration before  coming out with bitcoin and if its something they can do, I am sure bitcoin wouldn't be this popular at this time considering the number of years they would have been able to shut down everything as you have rightly noted.
It can be done, and net neutrality laws are being eroded by some countries lately, including creating laws for tracking Internet activity and requiring websites to keep logs.

While this is worrying (and RodeoX was particularly scared about it, I recall), I see it as something that could have happened at any time.  There's a point at which that action would become so outrageous to the public that governments just can't get away with doing it, because the public uproar would be immense and would completely destroy their popularity.  Considering that the mainstream media seem to have softened up to Bitcoin somewhat recently, I see it as unnecessary for governments to try doing this, especially since they can basically track it anyway if they regulate it well enough.
4704  Bitcoin / Bitcoin Discussion / Re: What happens after SegWit2x? on: July 01, 2017, 03:59:44 PM
There are also some suspicions that Segwit2x is just another distraction to prevent UASF happening or at least cut off its possible future support.
Suspicion?  It's 100% obvious that it's trying to diminish UASF's support.  The whole point is to get it activated before UASF becomes too popular.  There's no way anything would have happened this month if it wasn't for UASF being a threat.
Quote from: mindrust
There is a possibility that we may never ever get segwit2x. They may delay segwit2x to the last second and leave UASF with little support on Aug1 and they may change their minds about it afterwards.

That's not a small possibility considering that Jihan's/Roger's real thoughts on segwit.
Honestly, I see that as unlikely.  Looks more like a conspiracy theory than anything particularly intelligent - after that there would just be the threat of a different UASF a bit later instead.
4705  Economy / Speculation / Re: WALL Observer : BTC/USD price tracking and discussion (Phoenix Revision). on: July 01, 2017, 02:15:45 PM
SegWit activated in July-August safely = moon.

Or the other scenario: Segwit activated = a brief bull trap rally, followed by a crash ("buy the rumor sell the news") or simply a continuation of a downtrend already in progress.

Sorry to sound bearish, but if you are going to be a completionist you have to at least consider this as a possible outcome as well.
OK, fair enough.  That's a pretty likely outcome actually.  Litecoin, for example, settled for a while after SegWit activation before it got caught in the hype of the crypto bull market.  Bitcoin could do the same - people buy in when they expect SegWit to happen or when it's locked in, then they don't know what to do after that until other cryptos lead the way (probably bearish).

I'm not worried anyway.  I bought most of my coins way earlier than this, so I'm pretty safe with my stop loss set down low.
4706  Economy / Speculation / Re: WALL Observer : BTC/USD price tracking and discussion (Phoenix Revision). on: July 01, 2017, 01:42:55 PM
Of course I've seen this behavior before. Remember it well. It was the summer of 2014...
I think it's just people waiting for a future event.

SegWit not activated in July-August safely = 2014-ish behaviour, possibly moving into a bear market.

SegWit activated in July-August safely = moon.

Right now no one knows what's going on, so nothing is happening.
4707  Bitcoin / Mining speculation / Re: Hi! I want to Mine can you help with my due diligence? on: July 01, 2017, 08:52:41 AM
This is invaluable. Thank you for your response. After reading I do have a ton more questions lol.
I do have an irl friend of many years who is ready to go in 50% with me.
If I am able to get around the first pitfall of receiving the units, maybe by not making a bulk order;
would it/could it be risk cancelling to rent out the mining power, instead of mining coins for ourselves?
Thus ensuring a steady income regardless of bitcoin fluctuating value? (excluding a complete crash and death of the bitcoin, God forbid.)
In bulk amounts that might be hard.  You could try Nicehash, but you can't know that your income will be steady.

You can't really start a cloud mining service, because almost everyone assumes they're scams (99.9% of them are), and you'd have to put a huge amount of work into something that's properly regulated/is legitimate.

As a miner on a large scale, you're essentially a speculator as well.  If the price doesn't continue rising, then the difficulty might catch up with the price, at which point mining naturally becomes only just profitable.  If the price rises so much that the difficulty flies up, your machines might seem inefficient and you wouldn't get the profits anymore.

For now, you would get profits in ~6 months as Amph points out, but because of the difficulty it's unrealistic to expect that to actually happen.  I still think it's a moderately good investment, but you have to appreciate that this is a high risk/high reward choice for you.
4708  Other / Off-topic / Re: What Are Your Thoughts On Vegans? Or Going Vegan ? on: July 01, 2017, 08:34:03 AM
What Are Your Thoughts On Vegans? Or Going Vegan ?

Do you have concerns about animal abuse by eating meat or using animal products?

Do you feel strongly that it is your right to eat meat?
I don't like factory farmed animals that are treated like garbage, given terrible living conditions and pumped with antidepressants and antibiotics.  That has come to bother me more and more vs. farms that treat their animals good, or even hunting for your own venison in the wild.
The way I see it, it's impossible for a farm to be ethical because it's unnatural.  People can talk about "the food chain" all they want, but the reality is that they way animals are being killed is entirely unnatural, whether it's with a gun, a factory farm, or just a regular free range farm.  Humans would naturally be lower than, say, lions in the food chain, but if humans want to they can just shoot the lion with a gun.

The idea of animal products which are not meat is even more confusing, because cows only produce milk after having a child, much like what humans do.  Not only is it stealing the cow's milk which is supposed to be for cows, but cows produce far less milk after it would no longer be needed for their calf.  This means that far more cows are produced than the amount that are needed to stay on the farm, so inevitably the calves are taken from their mothers at birth and cows have to be killed to sustain the production of milk.



Clarification:  vegetarianism is to not eat meat or fish.  If you eat fish, you're called a pescatarian.  If you don't eat meat, fish or any animal product, and you refrain from the use of animal products in your life e.g. leather, then you are a vegan.  A lot of people are getting confused about this.



I also wish that people would stop saying "I eat what I want to" or statements of that sort.  They don't contribute anything to a discussion, because no government is telling you whether you can eat meat or not.
4709  Economy / Scam Accusations / Re: Tor wallet SCAM !!! on: July 01, 2017, 08:19:59 AM
Hmm.

Tor.

Custodial Bitcoin wallet.

Now, what might be the most likely end game for such a set up?

It's fairly easy to guess.
It's like as soon as people hear about Bitcoin and start using it, they just give up any normal rules of where they put their money, which is strange as hell considering that they should do the exact opposite and be much more careful than they are with fiat.

It's like, "hey, people use Bitcoin on Tor, so look at this online wallet that's on Tor!  Let's put our coins into that!"

No due diligence, no checking if they're a regulated company, no checking for information about the owners, nothing...

Same thing happens with investments.  Normally none of these people would give their fiat to a company that promises to pay them back >3% daily, but apparently with Bitcoin they feel it's acceptable.  Maybe it's a side effect of all the stories of people getting rich with Bitcoin that cause people to lose all of their judgement.
4710  Economy / Trading Discussion / Re: does ordering bitcoin debit cards expose us to the ID fraud? on: July 01, 2017, 08:09:59 AM
Aren't Bitcoin debit cards basically pointless anyway?

If you want to spend fiat in stores, why not just spend fiat instead of fooling yourself into thinking you're spending bitcoin?  It would make it so much easier for people to just spend bitcoin where it's actually accepted instead of relying on even more centralised services in order to let them spend fiat.

Still, I strongly doubt that more trusted services like Xapo or especially Bitpay would be stealing your ID.  It's just the same as giving your ID to any other service really.
4711  Bitcoin / Bitcoin Discussion / Re: Every time the media calls Bitcoin a bubble let's agree to buy a bit more! on: July 01, 2017, 07:58:45 AM
Yeah, Yahoo News.  Pretty mainstream and respected news source.

From Google:  https://www.google.co.uk/search?q=bitcoin&oq=bitcoin&aqs=chrome..69i57j69i60l3j0j69i65.1545j0j7&sourceid=chrome&ie=UTF-8#q=bitcoin&tbm=nws.

Almost all of the articles which you get when you get onto Google's news section (searching Bitcoin), you'll find are positive or neutral.

It's hilarious how some of you just want to feel like outsiders so much that you cherry pick articles to try and make it look like you're under attack by the mainstream media.  I've been quite surprised by how reasonably they've covered it this hype cycle.
4712  Bitcoin / Bitcoin Discussion / Re: Resurrection of Satoshi Nakamoto on: July 01, 2017, 07:47:21 AM
Considering how volatile fiat is against the Bitcoin, it could happen at any time  Wink

Seriously, there's no reason why this would happen.  Satoshi's intention was clearly to avoid the publicity of being a major figure.  Especially since a decentralised network shouldn't have a definitive leader except for during the early development phase.

You can't expect satoshi to reveal themselves, ever.
4713  Economy / Speculation / Re: Wall Observer Reloaded - Bitcoin price tracking & discussion on: June 30, 2017, 10:16:01 PM
-snippity snip snip-

Market still neutral. Price is hugging the 50% Fibonacci retrace level. Volume is moderate, RSI neutral. Boring, but price is still above $2500.
Pretty great time for the Wall Observer thread to fork then.  Absolutely no interesting price movements whatsoever, so we don't need to get together.

I think it's foreshadowing for August 1st.  Trillions of different forks that do slightly different things, but no one actually cares about any of them and nothing interesting happens on them.

IMO potential SegWit activation in July-August is super bullish.  The messier it is, the less bullish it is.  Before that, we'll be moving kind of sideways because no one really gets what's going on.
4714  Alternate cryptocurrencies / Altcoin Discussion / Re: Dash is safely scaling to 300+MB while Bitcoin can't even get to 2MB on: June 30, 2017, 10:06:51 PM
DASH number of unique transactions per day:  about four thousand.
Holy crap, is that true?
It's as true as that graph is.  It was just the first result I got for "DASH transaction volume", because I assumed that would explain why it doesn't matter whether DASH raises the max block size.  I can't find another one so that's all the info we've got.
Quote from: The Pharmacist
  I figured Dash would have way more transactions than that throughout the course of a day.  Then again, its only real use is as a speculative instrument--no one takes it for goods & services that I know of.  The darkweb (which I don't frequent) doesn't even deal with Dash to the best of my knowledge.
I'm pretty sure that Alpha Bay has wallets for Bitcoin, ETH, Monero and Zcash, but obviously the merchants accept what they like and almost all of them just accept BTC.  I suspect that's the case for most other dark net markets as well.  Some people do gambling with DASH because of the quick confirmations, but other than that I can mainly just think of trading to be honest.
Quote from: The Pharmacist
I know there are tons of Dash haters here, but I like the coin and I just recently bought a little.  Just a little, mind you.  I'm hoping at $182 that it's not all downside.  lol
Fair enough.

But anyway, my point is that when DASH isn't actually sent very much, it does what it likes in terms of max block size.  Bitcoin is not the same.  Also, Bitcoin is a lot bigger and has a lot more active developers trying different things so consensus is harder.
4715  Economy / Service Announcements / Re: [ANN] ChipMixer - mixing reinvented on: June 30, 2017, 09:50:35 PM
About #1, if you don't believe me, try sending out a transaction on a Sunday. I've had transactions be confirmed within the hour at only 40 sat/b which comes out to around $0.20 worth of transaction fees in contrast to sometime like today when the fee is around 300 sat/b. It all depends on the mempool load, which happens to be lower during weekends. That being said, I still think a scaling solution is a must for Bitcoin, but that's outside the scope of this thread.
You have your reason for saying that because sometimes too I have made some transactions as well while some confirms faster than the other but I just couldn't linked if its related to less traffic on the network during weekend but I guess I will have to try this as well. I feel there is need for the issue of fees to be sorted so people will be more encourage to use more of chip mixer service.
Fees are quite low currently if your wallet lets you set a custom fee.  As you can see here, even transactions with fees of <50 satoshi/byte are expected to confirm in about six hours, which is fine if you're sending overnight or online with low priority (e.g. to a friend).

I used chipmixer a few days ago and I got tricked, after sending my coins I got 3 small chips with the promise of merging them to get a big chip but the merging button wasn't working then I had to pay fees 3 times with one time of my main deposit, literally I lost 20% of my coins just paying fees. lol
Chipmixer does not have fees - you pay what you want to.  You should contact support.
4716  Economy / Trading Discussion / Re: Beware Twitter pnds like winningtrades4u on: June 30, 2017, 08:52:27 PM
This also applies to all the bullshit telegram groups that only "start pumping" when there's x number of people in the group.

Loads of these groups have been popping up recently due to the crypto bull market and frequent pumps happening.

Friendly reminder:  these whales do not announce their pumps in public.  Almost all manipulation goes on behind the scenes and I strongly doubt that create these groups without contacting people directly.
4717  Economy / Speculation / Re: WALL Observer : BTC/USD price tracking and discussion (Phoenix Revision). on: June 30, 2017, 08:23:19 PM
Just out of interest JJG, where are you from?

Me personally I am British and still live here in the UK.


-snip-
You wrote several times that your posts aren't too long.
Quote from: JayJuanGee
so it seems a bit nonsensical that I have some folks accusing me of being difficult to understand, and suggesting that I am convoluting my points..
Quote from: JayJuanGee
it seems to be a bit of a distraction to get caught up on style rather than substance, no?
Quote from: JayJuanGee
. either you want to read the writings of a poster and you can relate or you skim them for whatever useful information might be there or you ignore them.  
Quote from: JayJuanGee
Each of us personally do not need to benefit from each of the posts of others in order that others might benefit from certain styles and or substantive presentations, no?

All saying almost the same thing.  Just slightly different phrasing.

You should really trying appreciating the irony here...
4718  Alternate cryptocurrencies / Altcoin Discussion / Re: Dash is safely scaling to 300+MB while Bitcoin can't even get to 2MB on: June 30, 2017, 08:14:57 PM
DASH number of unique transactions per day:  about four thousand.

Bitcoin confirmed transactions per day:  about 230 thousand.

It's not the block size, it's the maximum block size.  DASH is also a younger project with very few transactions, so the blockchain is very small in comparison.  Not to mention that in DASH, full node users are rewarded, while in Bitcoin they're just volunteers. 

I don't think it's a fair comparison.

Plus, you don't know that it can't get to 2mb.  While they're not actually signalling for the code yet and they might not carry out with the hard fork anyway, it seems like shitloads of pools are supporting SegWitx2 right now.
4719  Economy / Speculation / Re: Are declining stock markets good or bad for Bitcoin? on: June 30, 2017, 08:06:29 PM
The vast majority of investors will just move their holdings into fiat.  They'd prefer to have something which typically only drops by 2-3%, instead of keeping the risk of something which is likely to have dropped loads when they want to cash out.

You can only expect Bitcoin investors from a bear market if they're diversifying loads into many different assets including gold as well.  Generally though, you're right that stock market problems are bullish for Bitcoin IMO.
4720  Bitcoin / Press / Re: [2017-06-29] Cryptocurrencies Will Be Worth $5 Trillion by 2022 (opinion). on: June 30, 2017, 05:31:16 PM
>Warren Buffet says that Bitcoin has no intrinsic value

"Yeah, well he's just one rich person.  Bitcoin is a grassroots movement for a developing technology.  Besides, he just doesn't get it."

>Michael Novogratz says that cryptocurrencies will be worth trillions within a few years

"We're all going to get rich!  Buy, buy, buy!"
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