Unification of currency will breed corruption, chaos, greater poverty, hardship, backwardness. Is just like narrowing it down to communism and communism thrives more in an indigenous society and not heterogeneous. It will breed chaos. This my view anyway.
This used to be the case, not anymore in a post-bitcoin environment. If all governments on the planet somehow arrived at the (logical) conclusion that it's better to have bitcoin as a global currency, everyone would be operating under the same rules and more bullshit would go on as we have seen with fiat currencies, but governments will never give up on the control of their currency, they will never willingly accept and open source, decentralized currency as the rules of the game, they want their own rules, in other words, closed source and centralized, this is why BTC will either remain as digital gold and a global neutral currency thanks to Lightning Network or if people all over the planet reject fiat and accept BTC only then they will be forced to give up and BTC will be everything. Both scenarios in the long term will make long term holders rich anyway. |
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I am one of Chinese.
I am not afraid of govment's order. And I am not afraid of market price down.
I will have more crypto coins later. I promise.
This time I have 40BTCs, 30BCHs, 50ETHs, 105ZECs, 55XMRs, and 36000XRPs,
What ever the gov said, I will going on my road,
I'm sure that The block chain will win at the end.
I will have 50-100BTCs, 100ETHs, 200ZECs, at 2018. if the market give me a chance.
In China, there are many many people knows the evolution of the block chain technology that brings to us,
They have the same choice just like me.
The world are huge, and we are not along.
I am being here just to say that.
Good to hear that but is China government planning to ban cryptocurrency? I lived in China for 45 years. And I leaned just one thing about the gov. The gov never do something permanent. They order this, and order that, just like open or close the windows. Don't trust him. Or you will be fooled. It's good to see that not all the chinese population is brain washed into being a government cuck and can actually take decisions on their own. If everyone on china was like you, china would make a strong statement to the world: "You can not scare us, Bitcoin will win." The government would be on panic as they see the price not reacting to their ban, they would feel powerless. This is how we win, do not fall for the fear and just hold, and we will defeat all governments that want to end BTC or otherwise control it. |
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4For the last week we all read the twitter storms about segwit transactions being made between bitcoiners.
Right now , more and more blocks over 1m are getting mined.
So, are you using the new feature?
Im not using segwit yet simply because the wallet I use (Bitcoin Core) doesn't support it, and until the best wallet (Bitcoin Core) doesn't update its software to 0.15 which is coming in 3 days by the way, you will not see a massive increase of segwit transactions. But wait for it, next week I predict a lot of segwit volume happening. I will definitely be using it. The thing has been tested beyond belief. Only delusional conspiracy theorists are still saying transacting in segwit is dangerous (notice how these promote their "solution-altcoin" as well). |
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I'm not a day trader - in it for the long term.
How can I convince myself not to keep looking at the market charts multiple times per day?
You need to take a break from bitcoin as a whole, including posting in here, reddit or any other place. I do that from time to time, get a month out and go get some sun, get some hobbies. It's good to take a break, specially when there's so much drama all the time in this community. Just be safe thinking that the Core devs continue making a good job and all the hardforking idiots are amateur players trying to compete against an NBA team with Kobe, Jordan and Durant all on the same team. |
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This question is probably asked many times, but I would like to start a discussion and hear other people's opinion on this. Of course it is a bit paranoia, but there is so much money to make for China that they would almost be stupid if they didn't manipulate the price. This website is great to see the history of Bitcoin's price and the main events that influenced it: https://99bitcoins.com/price-chart-history/Today seems to be exactly like in 2013. First China comes with some promising news that they see a bright future in Bitcoin and the price of Bitcoin goes even higher than it already was (giving a lost full blow into the bubble, prorbably so they can sell their holdings or something) and just a week or a couple of days later they come with restrictions and the bubble bursts. Is it me being paranoia or is the same exact thing happening again? And will it happen again in the next (even bigger) bubble? Please share your (well-founded) thoughts here  If you have been here for a while, you would know that this is exactly what China did with the PBOC regulations back then. It was actually bullish news that the chinese exchanges got regulated, because they would expose the fake volume and leave only real volume, but people took it as negative, panic sold, then the price went to ATH. Same goes for ICO ban, it's actually very bullish for Bitcoin. And the China bitcoin ban is just fake news, so I can't believe people are still panic selling. I think it will not go below $4000 and that was it. |
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Blockchain known for its de-centralisation properties. Is staring regulation from centralised government in the face. How will it react. I wonder how such a clash of interests would merge. Will it be good or bad?
They can't regulate at a protocol level, so "blockchain regulation" is a non sequitur of sorts. The only thing they can regualte is the crypto->fiat gateways, in other words basically exchanges, and that is all. Of course, they can try to put government shills on the protocol development by getting rid of the Core devs and putting people like Jeff Garzik instead, which is why we must defeat segwit2x hardfork at all costs. |
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Is the price of bitcoin going to be largely afffected by this fork in november?
Markets hate uncertainty. If there is uncertainty around a potential network split, contentious fork, etc. then I would expect that to be reflected in the market. We are still months away from the fork, though, so for now we can continue rallying to new highs. But come late October, I expect there to be some hedging against disaster. Segwit2x will fail just like all the other unnecessary hardfork attempts, and they will pay for the damage caused to Bitcoin holders.
Let's hope so. I'll say this: the forkers are getting better. XT was a joke and was easy to fight. Now we've got major mining pools fighting one another. Large services at odds with one another. And even internal struggles.... I saw the CEO and CTO of BitGo duking it out on Twitter yesterday. The interests behind Segwit2x are much more powerful than any previous fork attempt. Jeff Garzik is convinced that he has enough hashrate and corporations behind him to turn btc1 into the official BTC. f2pool is already out, we got some time to see more actors dropping from the agreement. If we end up with 3 Bitcoins it's going to be a mess, the market will crash and all the visible heads behind Segwit2x are going to be hated by every long term holder, and there's billions worth of long term holders that are going to be pissed at them. I hope they know what they are getting into, but hopefully we can avoid Segwit2x and continue to ATH with no drama. |
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Try to invest in ICO. Something like FinShi, BitJob, Tokenstars..
Im sure one of the up and coming ICO's will deliver stupdingly high returns again just like STRAT and NEOS did, but it's becoming harder to hit a nice homerun of %1000 profit as time goes by, because people run out of ideas to justify yet another token out of thousands of existing tokens. I would diversify a bit and try my luck. You have great projects like Byteball below the top 40 coins which is sad, and you have overhyped crap in the top10. Anything is possible. |
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My time is limited, im working, im learning about bitcoin on the dev mailing list, im checking altcoins, im checking the price, im doing a million things at the same time. I don't have time to do research on BGold but I heard it is another hardfork, just like Bitcoin Cash. It is a serious thing or is just some kind of troll act against Bitcoin Cash? https://twitter.com/bitcoingold/status/905840585222868992That's pretty funny. Anyway, what are the features, and when does the split happen? I want my share too. |
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Is it truly essential for BTC to hard fork again to increase the size of the blocks? Wasnt Segwit enough already?
If Jeff Garzik and his people were sensible, they should delay the November hard fork and think about it further. Segwit2x should also provide replay protection for its users. I heard there was none. Is this true? Why dont they want it to have replay protection?
Jeff Garzik is a government puppet trying to get on top of the Bitcoin main branch development by stealing Bitcoin Core's hardwork and putting all of his "blockchain analysis" crap (google Jeff Garzik bloq) into the protocol. Anyone defending segwit2x is a government shit or a retard, and must, and will, be stopped. Miners are already defecting to avoid the disaster of 3 bitcoins and a massive price crash, nobody with a brain wants to be part of that, because they know they are going to piss a lot of people, maybe the wrong people. Wang Chung from f2pool has already rejected the agreement and he is being threatened by Bitmain already: https://twitter.com/f2pool_wangchun/status/902993967460925440https://twitter.com/WhalePanda/status/905051845596471296Segwit2x will fail just like all the other unnecessary hardfork attempts, and they will pay for the damage caused to Bitcoin holders. |
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You would think that the biggest gainer in a day/week/month/year etc means a lot but not really. Most of them would be erratic, high fluctuating, very cheap new coins. Take this example, highest weekly gain of 7,876% (but I won't touch it) https://coinmarketcap.com/currencies/peepcoin/Note the 24H volume...about $2.25...what a PUMP!!! LOL  This just doesn't count, when the volume is tiny you can't properly dump if you become a millonaire, or even 5 figures worth sometimes. Im pretty sure the money shoot was with one of these ICOs delivering 4 figure % gains, you can keep track here: www.icostats.comSome of the ICOs have gotten %100 gins in the past 3 months which is pretty awesome, too bad im not holding any of these. So you totally missed my message which is what you are "preaching me". We agree in case that is not clear. Meanwhile, I usually avoid the biggest winners since they already had their jump. I look for and invest on the ones before they jump. Of course, if you want to make the big money you have to risk a lot of and buy the coins that are flat, before they ever get a big pump. But the problem is... how to even recognize these? it's too difficult. Too many coins out there, constantly being added to coinmarketcap. And you must buy them before they are added in big liquidity markets as well, which gives you the risk of holding a bag forever (in the case the coin doesn't end up getting added anywhere notable) |
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You would think that the biggest gainer in a day/week/month/year etc means a lot but not really. Most of them would be erratic, high fluctuating, very cheap new coins. Take this example, highest weekly gain of 7,876% (but I won't touch it) https://coinmarketcap.com/currencies/peepcoin/Note the 24H volume...about $2.25...what a PUMP!!! LOL This just doesn't count, when the volume is tiny you can't properly dump if you become a millonaire, or even 5 figures worth sometimes. Im pretty sure the money shoot was with one of these ICOs delivering 4 figure % gains, you can keep track here: www.icostats.comSome of the ICOs have gotten %100 gins in the past 3 months which is pretty awesome, too bad im not holding any of these. |
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I'm a bit late to the bitcoin party but am investing now because I understand and believe in the potential. Need some help from the group though...
Transaction speed, scalability, confusing forks to new coins, transaction fees, etc... These things all seem to be the key barriers to widespread adoption and success of the bitcoin itself. I know development is constantly working on these issues but there seems to be quite a bit of disagreement between the core devs and the miners on the best way to proceed. Segwit2x was a sure thing, but now maybe not? Increase block size yes or no? Ideas like Lightning Network may or may not help? I think everyone agrees that scalability and speed MUST happen but there are some hard liners that are faithful to the original core blockchain design.
I totally believe that the democracy and decentralization is vital. But I'm worried it may be the very undoing of the success of the chain. How can bitcoin be a competitive currency option if it takes 8 hours and $800 to process a transaction? Or will it just be a mechanism for storing significant wealth?
Any devs or miners that can make me feel better???
Segwit2x = terrorists against bitcoin trying to undermine the project by putting goverment agents like Jeff Garzik (see bloq: https://twitter.com/coinalytics/status/836219314780909569) trying to steal the bitcoin brand by bribing miners into this mess. Bitcoin Cash = Roger Ver and Bitmain's playground to test things out, also crap. We must avoid Segwit2x at all costs. Core devs = engineers. Miners = janitors. Hardforkers = opportunists. |
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Bitcoin has been touted as a crypto-currency, capable of replacing fiat currencies but the reality today is that most people prefer to hold bitcoins rather than spend it. Can we really say it si a currency when a large number of bitcoin users treat it as an asset?
It's both. The fact that people like to hold it more than spend it doesn't negate it's currency-like features. People can buy stuff with Bitcoin, so how it cannot be a currency? It is also an excellent gold alternative that just keeps outperforming everything else, therefore also an exceptional asset. Bitcoin may not be feasible as a fiat replacement right now due the fees and confirmation times not being ideal for OTC purchases, but it can be. I can see more and more shops accepting BTC once we have lightning networks for instant cheap transactions, that could replace the fiat part, while keeping the blocksize small so long term holding in a decentralized network is still possible, keeping the asset/gold-like features too intact. This is the best outcome for Bitcoin, which is why segwit2x or any other hardfork must be stopped. |
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Bitcoin is already in more trouble than people for some reason are admitting. Bitcoin Cash is the most damaging attack on Bitcoin to date, and people simply are not acknowledging that fact (most Bitcoiners anyway). Adam Back says on Twitter, Segwit2x "may" subject the 5k Bitcoin price to "cancellation" if enacted. What makes no sense to some of us is why BCH does not do this already. In fact I think it will unless it is completely and permanently defeated. Right now Bitcoin's mining power is split and chasing 42 million bitcoins! This is a complete violation of Bitcoin's core value proposition, that the hash power will protect strict monetary policy. It has failed to do that. I bought my first bitcoins coming into the MtGox bubble in November 2013, at bubble prices. I lost those in MtGox bankruptcy and bought more. I remained faithful to Bitcoin through all of 2014, 2015, 2016 and most of this year. But I finally gave in and sold at 2700 before the BCH fork. I've missed out on BCH, and giant BTC price gains since I sold. But damn. Strict monetary policy is just gone. I don't know if or when I will ever buy what crypto again. I love what they can do. But Bitcoin... ye had one job. And you blew it! I think there's a fair chance the total BTC/BCH price will fall back through my sell level again. Not sure I will want it, though.
Miners were always free to hardfork. In fact anyone can hardfork at any time and create their own knockoff of Bitcoin, so what? There's nothing you can do about it. It comes with the package. At the end of the day, we have more than enough hashrate to keep Bitcoin safe. Some idiots decide to mine their shitcoin? Let them do so, let's see for how long they can sustain it. Meanwhile people that didn't fall for the FUD (and this is important, because if nobody fell for the FUD, BCH, segwit2x and so on, wouldn't even be a treat) are enjoying the nice gains. So let's not fall for the FUD, and in the case of a hardfork, dump the shitcoin on sight. The real Bitcoin always wins. |
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Which is the best time period in a day for Crypto trading, where more traders participate in trading??
Crypto is a market that never sleeps. When some part of the world is sleeping, the other part is trading and vice versa. It's going to be easy to find active markets at any time. I would guess that the only time you see a global decrease in trading action is during the weekend. Most people like to take a break at the weekends. Trading is mentally exhausting, it's necessary to take a break or else you'll go nuts staring at screens 24/7, specially in crypto where the markets don't close at the weekends. |
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Hi,
Up to now, Bitcoin hasn't gone through financial crisis. Maybe one financial crisis is near (look at financial market overvaluation)
in case of financial crisis, bitcoin price could
-collapse as big money people will withdraw from any investment,
-surge as BTC could be seen as an escape to current financial system
-remain stable
Do you think that in case of a major financial crisis like in 2008, bitcoin price will collapse, surge or remain stable?
thanks
Interesting scenario. Actually since bitcoin is decentralized i think that would be what saves bitcoin from being negatively affected by the financial crisis. Usually in the financial crisis, especially if it is inflation based people are looking for a safe currency that would store their wealth in the long run and not having to worry about it in the long run. Bitcoin is perfect for this purpose. Commodities and stocks will be worst hit, but bitcoin probably will actually going up because of the increase demand in something that people can safely put their wealth in and forget about it and know that nobody can print more of it infinitely. A lot of people are turning their back to gold and going to bitcoin as the neutral asset of choice. Gold has been underperforming for years now. It was supposed to save your ass, and not only that, but make you rich during the 2008 crash, and then all it did was stagnate into nowhereland. Meanwhile Bitcoin was released at that time and has delivered 5 figure % of gains since then, and it continues being the top performing currency/asset every year. Goldbugs like Peter Schiff will remain on denial no matter how high it goes, but people that don't have a gold business and just want to leverage their risk and get rich doing so, are getting tired of gold and are buying bitcoin. In fact, I don't doubt for a second that even Peter Schiff is secretly holding BTC. |
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I see a lot of traders making the mistake of judging the price by looking at the linear chart, which is why these traders have been calling the top of the bubble since $2000, $2200, $2500... and they continued all the way up, calling the top everyday.
The reason this happened is, if you look at the chart from a logarithmic perspective, the price is perfectly fine and we are in good shape for our journey to $100,000+ in 10 years or less.
Bitcoin doesn't grow linearly, DO NOT USE LINEAR GRAPHS TO CHART IT, or else you will keep calling tops everyday.
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why after the Chinese government forbids ico, the state of the market so immediately changed, whether the influence or the relationship between china and decision
It's just general panic in the cryptocurrency ecosystem. Anything that has to do with a ban is going to trigger people into selling, even if has absolutely nothing to do with Bitcoin. In fact, this is actually good for Bitcoin. Once the market realizes the fact that this event is not relevant to BTC, all the ICO money is going to go back to BTC, not to some hyperinflating fiat, so just hold and buy the dip, and dont be the one that falls for the FUD. |
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