|
99% of people in here are clearly incapable of analytical thought. Everything is parroting the party line "Bitcoin is a great investment", "Bitcoin is a currency", "Bitcoin can only go up", "there can only be 21 million" and so on and so on. Almost no-one is capable of critical or independent thought. Clearly judging by this forum Bitcoin is mainly driven up by parrots - or automated bots.
|
|
|
|
The argument is again and again that the value of Bitcoin will increase because supply is limited to 21 million. But this is quite simply wrong. Every time Bitcoin is forked that is in real terms an expansion of the Bitcoin currency beyond 21 million. To some degree the same is true of alternative crypto currencies which will flood the market. There is already more than 1000 cryptocurrencues ( https://en.wikipedia.org/wiki/List_of_cryptocurrencies ) Th forking (or absence of it) does not effect Bitcoin's supply. At best, you can consider it as a "gift" to all bitcoin holders, which will increase the overall worth. It in no way impacts the overall supply of 21 Mn, which is set in stone. That is precisely my point. I create "Bitcoin2" by forking. Then I create "Bitcoin3" and so on and so on. In reality what I am doing is issuing more Bitcoin. That I call it a different name does not change the reality. : Given the example of BTC and BCH, they are both completely two separate cryptocurrencies - each has its own blockchain network.
Can you use BCH to purchase goods if the merchant only accepts BTC ? Or Vice Versace ?
Don't be such a dope and stop wasting other's time !There are so many spreads of mis-information on the internet that it really make people's life difficult... Wow - the lack of intelligence in here is amazing. You are totally not understanding the fundamentals here and even though I have explained the details many times in this thread you clearly still do not understand it. This is why Bitcoin (and other coins) will crash - it is now only being hyped by people like you with no understanding of the actual reality |
|
|
|
Bitcoin is not a bubble, those centralized banker's have been saying this to avoid people to put their money in Bitcoins, if you're not aware it's crossed the value gold, Nike, it's searched more than how to buy gold. If you're already not in, you should get in now and make sure you benefit before the rally starts again, don't believe for other's see for yourself, get in now.
Wow - you are literally showing exactly why it is a bubble being fueled by extremely naive people So, what is the point of this thread/your agenda? Very simple - if you truly value your hard-earned money (and hence savings) get the hell out while you still can. The only thing driving the price is this religious frenzy that Bitcoin can only go up, and that party will eventually come to an end Annnnd, in what would you suggest people invest? You should not invest in anything in the world of crypto currencies or ICOs. Like Bitcoin Ruthenium? Certainly not that one - and neither any other one. That is another indication that many so-called investors on this forum are desperate ignorants. Many are simply incapable of seeing even obvious spoofs such as Ruthenium and are for sure being ripped off by criminals out there. Most people in this forum would do themselves a great favor by getting out before they lose their shirts. Then why did you make your topic about it? To see how gullible people in here are. The answer was as I expected. Very. |
|
|
|
The argument is again and again that the value of Bitcoin will increase because supply is limited to 21 million. But this is quite simply wrong. Every time Bitcoin is forked that is in real terms an expansion of the Bitcoin currency beyond 21 million. To some degree the same is true of alternative crypto currencies which will flood the market. There is already more than 1000 cryptocurrencues ( https://en.wikipedia.org/wiki/List_of_cryptocurrencies ) No, you are wrong, Bitcoin is BTC, if another alt coin comes, like BCH, BTC Gold or any other currency, it is not the same coin! Cripto currency are infinite, you can create your coin now if you want, but the supply of orignal Bitcoin Core is 21 million, this was in code created by satoshi nakamoto. You really really do not understand it do you? It does not matter at all what the names of the coins are. The are all fungible and hence will directly impact on the overall supply and demand for the market for crypto currencies. |
|
|
|
You are partially right. We wouldn't be able to sell our coins if miners stopped mining or switched to another altcoin. However, they would switch to another profitable coin. Bitcoin is not worthless because they are many investors who are interested in this technology. Without people who want to buy a specific coin, mining wouldn't be profitable. That's why miners can't completely ignore investors or ordinary users.
Well, the slave owners couldn't ignore the needs of their slaves to get food as otherwise they wouldn't be profitable, but that didn't change that the balance of power was extremely skewed in one specific direction. |
|
|
|
20% price decline in one day isn't that much. As far as I know, it had already happened a few times. Before price declines, some big event must occur. Last time when the price had started to decline was the cancellation of Bitcoin SegWit2x hardfork. It wasn't that long time ago. The price had dropped about 30% and quickly recovered. What a shame transactions were slow and expensive back then.
They were slow and expensive on purpose. When the market drops, the miners favor their own transactions first so they sell at the best prices. When the market turns, they again favor their own transactions so they buy at the cheapest level before letting any other transactions through |
|
|
|
Hi dev,this coin only mine on android device ?. How about gpu or cpu
Thanks
Will work on most IoT devices, including routes and webcams |
|
|
|
When you put your money in cryptocurrencies, the miners will control your life.
If the miners decide to switch to another altcoin you cannot sell any of your coins - no matter which coin it is, even Bitcoin. If they reduce their efforts prices to transfer becomes extremely high. If you have a lot of your money in cryptocurrencies, the miners will become your new slave masters
I got your point and I do agree somehow on those words but not totally because miners would really still remain on the strongest crypto which is bitcoin which means they would stay here as long as they can because they are making money on here if they would decide to switch on other coins then its not surprising because they would really do just for the sake of money. But if they are using their dominance to do front-running, they are effectively making money by cheating everyone else. It also means that a powerful group can convince the miners either by arguments or by money to switch their services to an altcoin, then the impact is tremendous and as a Bitcoin holder there is nothing you can do Its not actually cheating since they are giving their legit service on here which is on pushing up transactions in the network.I cant think off that there would be a powerful group that would convinced most of the miners to switch on a particular coin and would leave bitcoin in the air. They wont do such thing because they would really prefer to coin which do have a higher demand and adoption and they would really stick on it.If the thing you said do happen then I cant imagine on the panic it would create. Front-running is not a legit service. |
|
|
|
I would probably keep on HODLing my bitcoin because i know bitcoin will rise again. If you will just look at the graph, you can see that everytime bitcoin's price falls, it will always rise putting traders or investors on a winning situation.
Wow Einstein. You clearly are a knowledgeable investor who knows what he is doing...... |
|
|
|
People sell bitcoins to trade or to make profit.
Because knowing that cryptocurrency is now exclusive for serious investors, people who have bitcoins get opportunity by selling of it and make profit.
They know that the value of bitcoins is not only in digital, but also in reality.
Are you joking? I do not see serious investors in here. I see naive dreamers hoping to get rich quick. |
|
|
|
When you put your money in cryptocurrencies, the miners will control your life.
If the miners decide to switch to another altcoin you cannot sell any of your coins - no matter which coin it is, even Bitcoin. If they reduce their efforts prices to transfer becomes extremely high. If you have a lot of your money in cryptocurrencies, the miners will become your new slave masters
I don't agree with this. Ultimately the final say is up to the market support. Miners are running a business, so they will stay were the profit is. The market is build on supply and demand, so if we demand bitcoin for example, like is happening right now, miners will stay in bitcoin because it's more expensive, so it gives them more profit. Yes, they might switch to some other coins from time to time (like bcash), but they will only stay there if we start selling our bitcoins and start supporting bcash. If we don't swap our coins, they will just have to come back. If they don't, then difficulty will adjust to the new hash power, and we will still be fine. If difficulty decreases, then it will be even more profitable to mine BTC, so again, in the end, miner will be where the profit is, and the profit is where the demand is, so we are not slaves. The miners can drive up transaction costs for you without you being able to do anything about it. The Chinese mining farms are becoming so big that you cannot hope to compete yourself. |
|
|
|
if we look at the current system of bitcoin it can't be said that it will devalued up to 20% day by day because it has backed by a strong system we called that the crypto currency system as it will not be down in the short period there will be a false information if this happen in the future. the expert of this system are trying to expand the crypto currency everywhere in the world there are so many countires like japan and some other countries are accepting this currency.
What kind of bollocks is this? Of course it can drop 20% quickly - that is what happened just a couple of weeks ago |
|
|
|
When you put your money in cryptocurrencies, the miners will control your life.
If the miners decide to switch to another altcoin you cannot sell any of your coins - no matter which coin it is, even Bitcoin. If they reduce their efforts prices to transfer becomes extremely high. If you have a lot of your money in cryptocurrencies, the miners will become your new slave masters
I got your point and I do agree somehow on those words but not totally because miners would really still remain on the strongest crypto which is bitcoin which means they would stay here as long as they can because they are making money on here if they would decide to switch on other coins then its not surprising because they would really do just for the sake of money. But if they are using their dominance to do front-running, they are effectively making money by cheating everyone else. It also means that a powerful group can convince the miners either by arguments or by money to switch their services to an altcoin, then the impact is tremendous and as a Bitcoin holder there is nothing you can do |
|
|
|
Now I wonder if it's possible to design a cryptocurrency in such a way that makes frontrunning impossible.
For example, what if transactions have to be processed strictly sequentially?
That requires an agreement of what "sequentially" means, which can be problematic. Either one ledger entry is then determined to be the "master" which decides for all others - or everyone needs to synchronize perfectly with the exact same clock. |
|
|
|
I think you confused and shouldn't in threads if this is the kinda dribble you going t post. Did you even think about what you were typing before typing it? Please learn more about what you talking about before making topics like this thank you. You are right partially as there is no limit to the prices of Bitcoin. Currently it says 21 million but more and more will mined and the limit will keep increasing . Then comes the price of Bitcoin . Who expect the prices of Bitcoin to rise upto 10 times the price past year. Infact now it's even more and there are many predictions which say that Bitcoin can easily cross 10k by the end of this year.
Yes bitcoin does not have a limited supply because many people are supporting bitcoin nowadays, BTC have finite supply of 21 million coins and that is a fact which is very well known.I do not know why you think that some alt coin which have "bitcoin" in his name can change total number of coins.Most of that alt coins even with "bitcoin" in their names will simply disappear over time.There is always a option to increase total number of BTC,but I think nobody wants to that happen.One of the reasons why BTC is most popular crypto currency is his limited supply among other things,and 1000 more new coins on market will not change anything. You really don't get it do you? A person wants to invest 100 USD of real money in cryptocurrencies. If there was only one crypto - Bitcoin - with a limited supply, then over time you can argue price will go up as long as that person really want to by crypto for his USD. But when you then have more and more cryptocurrencies, some of the people will choose to put their 100USD in competing cryptos. And this means in reality that the supply of crypto currency is growing exponentially and without limits The price will go u because the demand is high. This guy didn't even mention this. What an annoying topic. Sorry that you do not have the wit to understand the argumentation and are confusing the topics. The underlying reality is that the cryptos are fungible, and to boot demand will no longer be there |
|
|
|
That sounds like a fundamental problem that could come to haunt Bitcoin evenutally. Is it possible to prevent front-running by adapting the Bitcoin code?
I don't see how. And this is exactly why regulated exchanges are regulated. Centuries of experience shows that without oversight/regulation then there will always be someone using underhanded tactics to cheat. Hence this is a deeply fundamental problem for a Bitcoin with no centralized oversight/government It's either have someone oversee and overseer cheat themselves or have bad actors within community cheat. rock and a hard place At the end of the day it comes down to trust and disgust. When sufficiently many people feel manipulated by the miners (or held hostage where they can't sell when they want to) they will leave the market. Trust in a decentralized vision will be replaced with disgust, and in that scenario it will effectively spell the end of Bitcoin. |
|
|
|
Nice idea, when can we expect to be able to mine this coin?
As from Monday |
|
|
|
You're not wrong but this is more of a problem for a centralized mining mob like the one running Bcash.
The intention was never to have large-scale mining farms to control majority of the hashrate. Irony is if centralization leads to crypto bubble bursting, nobody stands to gain including the miners. It's not in any miner's interest to corner the market.
That's going by the assumption that the miners are invested in Bitcoin themselves and believe in the technology, if a large corporation was against Bitcoin and had enough reason for an investment towards gaining the majority of the hashrate, then there could be problems. Unless it's amazon, the cost of cornering the market would be prohibitive for anyone intending to just destroy or stall bitcoin. Not prohibitive for the Chinese government for example |
|
|
|
Surely must know the cause of the fall in prices. If because of false news, segwit, theft. I will keep the coin. if the destruction of the system, network or developer destroyed, then I will sell it.
If it is destruction of the system or network you will be unable to sell. That is what many here do not seem to understand. When there is a true crash you will be unable to sell in time as the time to get transactions done will be far too long. It will be the same as a theater with 10.000 people inside and only one small fire exit. If you hadn't already left the theater, there is very little hope for you to get out when there is a fire. |
|
|
|
That sounds like a fundamental problem that could come to haunt Bitcoin evenutally. Is it possible to prevent front-running by adapting the Bitcoin code?
I don't see how. And this is exactly why regulated exchanges are regulated. Centuries of experience shows that without oversight/regulation then there will always be someone using underhanded tactics to cheat. Hence this is a deeply fundamental problem for a Bitcoin with no centralized oversight/government |
|
|
|
|
Show Posts
