What the fuck?? I only heard about Bitcoin cash and bitcoin gold, that bch is the most recently fork and that btg is going to be the next hard fork on the next week, but b2x? wtf is this? are we going to face a new hard fork in a few months from now? I dont think that this is true, because i havent seen any notice about this in the forum yet, and that is so weird because those kind of news are posted almost instantly by all bitcoin lovers.
Give some information about this
Are you being serious right now? Everyone has been talking about S2X for way longer than Bitcoin Gold. Most people only started talking about BCG a few weeks ago whereas S2X has been known about since before the previous fork when Bitcoin Cash (BCH) started. I don't know how you are a Senior Member on this forum and did not know this. |
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Right now the average transaction fee is ~ $3 USD. For any businesses operating in small amounts that want to accept bitcoin, it is not feasible. The 3-5% that a credit card company charges will be much lower per transaction.
Let's say the increases in the blocksize cause fees to go down. Will it ever be able to compete with the credit card companies in terms of number of transactions, time of confirmation, and transaction fees? Surely the architecture at visa or mastercard are more efficiently designed for a large number of transactions, and why would bitcoin ever be able to compete with this? Is it inevitable that bitcoin will not be able to compete in terms of what credit cards can do?
The problem with transaction fees at the moment is not that the network is overly congested. It is coming close, but in reality the real reason is exchanges and companies, and wallet providers are setting their fees too high in order to push transactions through as fast as possible, which then causes lower fee txs to take longer. If everyone would drop their fees accordingly, we would not have this problem. |
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So far Cryptopia and Novaexchange are saying they won't support BTG, and Yobit is saying it will. Any other news?
I am genuinely surprised that NovaExchange is publicly saying it will not support Bitcoin Gold this early. I mean, they already support most crapcoins... why not one that actually has potential to make a significant profit for them? Worst case everyone will deposit and sell them off and you still make commission on those trades, therefore I do not understand why they are not supporting it. |
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I do not personally see the point of this thread. If Bitcoin is getting "killed" by forks, then why is the price way higher than it was back when Bitcoin Cash was released? If it was getting "killed", then the price surely would have dropped significantly. But instead, it continued rising over $2,000 more. I think this alone is proof that forks do not have much effect on the Bitcoin price.
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Ya I agree those predictions are mostly bias based, of course I hope my investment profits. That's why rather than commenting on the prediction or going against the opposites, I would rather go with the flow, adjusting my portfolio within more realistic timeline. The news regarding a public reasoning of why BTC could went up $15000 is just glorifies BTC and his words doesn't sound very technical as well. No valuable info is found but it's true that BTC got a lot for attention lately  The thing is we will not get to $20,000 on this peak. That is for sure. The price is going to crash soon. I don't know when, but it will definitely be before $20,000... lol. And after the crash, it might take years for the price to recover even back to $5,000+. So I would not be so fast to say that in 2 years we will be at $20,000. I would say in 5 years we will be there most certainly though. |
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I think many online exchange site have getting that kind of information from people using there site and sometimes you need to present something for confirmation before doing anything, I highly recommend to just follow the rules or term of using the exchange site.
This is what bittrex does today. Bittrex implements a verification process that makes some people upset and there is also a welcome with a positive. some people say that they are late withdrawing because they have to first process the data done and this certainly makes them lose. personally, bittrex parties should make announcements in advance or conduct experiments when applying this regulation, with the option of coming weeks to enforce this regulation in full. yes maybe now there are some people who leave bittrex, we all know that at this time very many exchanges are popping up and they the majority offer a very interesting. we'll see whether bittrex as the best exchange at this time can maintain the number of users or not. Technically speaking, this is a good move on the part of Bittrex. I mean requiring identification only further legitimizes their business. I think it is sort of shady how they did not pre-inform their userbase, but in reality it does not make sense for them to do that at all seeing as most would simply withdraw their Bitcoin(s) before the new security feature was even implemented and they lose half teir business or whatever overnight. This way, most of their customers will not go through the hassle of verification and rather will stay with them. Again, it is kind of shady, but also makes sense. |
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So there will be a guide to claim bitcoin gold after the fork, but I have a question: Will we be able to claim or extract bitcoin gold from bitcoin cash too?
And secondly, will it be possible to extract bitcoin cash and bitcoin gold from the same bitcoin seeds?
As the very first poster said with regards to getting Bitcoin Gold from Bitcoin Cash, seeing as this is a fork of Bitcoin and not BCH, there will be no way to get double your Bitcoin Gold in this manner. As for the second question, as far as I know it should be possible, seeing as they take a snapshot of the network at a specific time, therefore theoretically if you have BTC in the same address during both forks you should be able to get both from the same seeds, although I am not an expert about this - so take my word with a grain of salt and do your proper research. |
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Didn't Satoshi have 1Million BTC? or that was bullshit :O
Satoshis untouched addresses DO have about million coins in them, but they are not in one address. Those coins are in many addresses, each of them holding "only" 50 BTCSatoshi has never moved any of them. except in the beginning on January 2009 to test if everything works properly. So you are saying Satoshi has 20,000 Bitcoin addresses each holding 50 BTC? Dang, tat must be a lot of work to cash them out if he every wanted to. I mean imagine how long it would take. And some of the transactions might get screwed up and you just lose 50 BTC like that. Although he is a lot smarter than I am so he probably figured a way around it. |
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To be honest, I think the sudden price hike is not going to sustain for the long term and there will be a correction in the price within next couple of months. However, I think that Bitcoin will cross the level of $10K within a year or two but still, there will be the fluctuations in the price.
Those who are willing to hodl for the long term, shouldn't worry about these short-term price fluctuations in my opinion.
$10,000 is nothing man. That will be easy. After the correction, which as you said is coming and very soon I might add, the next time we see an exponential rise like this one, the price will not only cross $10,000, but I predict that it will go up to at least $30,000 and maybe even $50,000. I do not see it reaching $60,000 before crashing the next time. |
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The answer to this is easy and I am surprised you do not know it already. The founder of Bitcoin, named Satoshi Nakamoto is believed to own at least 500,000 Bitcoins, with some estimates putting this figure at higher than 1,000,000 BTC. This would make him a multi-billionaire and the largest holder of Bitcoin worldwide. You can read his earlier posts here on this forum, although he disappeared and has not posted in years.
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How do we know we're investing in the internet and not in a startup? If you catch my drift.
It's not so much that we're investing in "the internet" as opposed to a startup. It's are we investing in a Google or Amazon as opposed to the many that didn't make it. I'm sure in 15 years time there will be many names from now that are forgotten. Those that survive will be highly valuable. The most important thing to remember is that this has only just started, it's more like 1995 than 1999. This bubble has a long way to go yet. In market cap terms the internet bubble was in the trillions of dollars, we're still in the billions. Only 1.5 million people own a crypto wallet, just think what happens when the masses start adopting. In 15 years there will be many names that are forgotten?! Try 5 years! I can name you many companies right now off of the top of my head that achieved the highest level in the crypto world in their respective fields and are no longer here today. The first one that comes to my mind is Cryptsy. That exchange was the most popular in the world, and also Mt. Gox. Both are gone now and facing lawsuits over stealing their users coins due to getting "hacked". Yeah, right.  |
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I have been following bitcoin price since the recent upwards price movement and I think $5875 has become the high and corrections has began. Checking price chart this morning I discovered that the down channel's line has been broken and that signal a dropped in buying momentum and price may get below $5,000. However, this is another opportunity to buy bitcoin at a very cheap prices as before the end of this year bitcoin might hit $7,000. This corrections is not going to be a long one, it might just be three to four days and we would resumes another upwards movement again.
The downward correction we are seeing in price to me is what should be expected as we should even be more careful if the only thing we are seeing is increase in price that will not only led to loss of confidence, but also give the media something to feed on as a negative that they always wanted to get about bitcoin. The market is volatile no doubt but the volatility is what makes it so interesting that makes us wake up everyday to be confronted with new challenges and how we can help is navigating such. Ummm, no offense, but what "downward correction" might you be talking about? There has literally be a jump from $4,800 up to $5,500 in the past 72 hours and the price is still $5,350. I would not call that a downward correction, but more so like a regular fluctuation. The price does not constantly go up every single day. There are going to be multiple days in a row where we see small drops. |
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The state of california has the #6 largest economy in the entire world. The large economy translates to power & political influence. I think california like the UK (in comparison to the EU) pays more into the federal government than it receives. Both of those conditions could give california what it needs to secde and develop its own crypto. Although to be honest, california and new york are probably the two most corrupt states in the USA. I also seem to remember california passing a law not long ago giving communists a green light to hold political office which could be a bad sign.
It is actually crazy how big of an economy that is for a single state, when you think about it. I mean the fact that one state out of 50 in a country has the 6th largest economy of all countries on the entire planet just goes to show how much money it must cost to live there. Like think about all of the poor countries around the world, and this single area is the richest... everyone there must be rich. |
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What do you guys think separates the crypto situation now from bubbles like the dotcom bubble back in 2000? I find there are a lot of similarities, and it worries me. The expansion of the crypto markets with new altcoins and ICO's coming every day, it seems as if sooner or later it's going to have to stop. What gives all these coins their value? What kind of methods do people here use to evaluate future cashflows or earnings? Almost every time I ask someone that on this forum they don't have any answer what so ever. Maybe just a "well it's going to go up because more people want in so that they can earn money too". That's 100% the definition of a ponzi scheme, which causes me to think we are operating in a ponzi financed economy (ref. Hymin Minsky's crisis model).
The dotcom bubble burst because people were expecting enormous future profits, which wasn't backed up at all by the organic growth in the industry. How should we determine what is organic growth in the crypto economy? It's really hard to say, as the technology is so young that companies aren't really making money yet. So what kind of earnings are you guys investing in? Is it simply that you expect the asset to increase in price due to higher demand, or are you betting on cashflows from the use of it? In bitcoin's case I guess there won't be too much cashflow from use, but there are many altcoins that try to do this. I'm just thinking loud here, so I'd very much like to hear your thoughts as well.
We are not even close to where the dotcom bubble was. The dotcom bubble still had established/legitimate companies, it is just that most of them failed when the market crashed, but they were still legit. In today's crypto market most companies are startups and have not proven themselves. We are still in the beginning - 1995 and most people cannot even buy or sell crypto because the "Windows 95" of crypto has yet to be invented. |
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I have been thinking about this a lot recently and came to the conclusion that realistically, Bitcoin and cryptocurrencies are likely not going to be able to be taxed by governments. There is just too much to track and even automated systems will not be capable of reliably linking individuals to their addresses strongly enough to warrant claiming they need to pay tax. Virtually anyone could use a mixing service and pay 1% and launder their coins which makes taxing essentially impossible.
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When I first learned about passive income, it was like my whole idea of how to make money changed instantly. I had never really considered that making money passively was even a possibility. Working a dayjob was how I always imagined life is supposed to be. The interesting thing is if you actually work an average dayjob but save money each paycheck and invest it, you are pretty much guaranteed to be a millionaire eventually with the power of compounded interest.
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I see a lot of optimism about bitcoin, which is understandable seeing the price recently.
But I have to admit I'm a little worried about the long term future of btc.
The major problems if the currency still haven't been dealt with. I see 2 major ones:
-Block size. Which makes the delay and fees of transaction rise very fast. Smaller transactions are more and more difficult to make.
-The centralization of the market. China got low cost electricity, which make them by far the most bitcoin mining capable.
-And maybe others that I'm not aware of.
Another thing: The Hard forks that are oddly getting much more frequent than before. (BCH, BTG, Segwitx2 etc...) It almost looks like "attacks" in order to divide us. Now called "airdrops" by the community. Even though they're supposed to solve some of the problems.
All in all, this makes me really worried about btc future. I've been a strong holder since 2014, and I made quite a lot of money with bitcoins, but I begin to doubt now, even though the price is crushing ATM. Please help me keeping faith. Or should I switch to another currency ? Really thinking about ETH recently.
Bitcoin is just the first cryptocurrency that became very popular. There are tons of other now. Many of them have their own technology that is better than Bitcoin. It is only a matter of time until another much more developed crypto comes along and outshines Bitcoin and takes it over. It could even be Ethereum. ETH is an amazing development and allows for so much more than Bitcoin does. |
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altcoins can never "take over" bitcoin, and it doesn't matter if they have the "bitcoin" name in their name. ~
So basically, if F2pool really moves out of the agreement and one - even small - pool joins them, then Segwit2x will have already a hard time.
i wouldn't count on F2pool and what they say they do. they will change their mind at any time as they please. they did the same with SegWit and again with LTC SegWit, they kept going back and forth claiming that they were attacked because of supporting something or not. small ones are also always fear and try to stay neutral. Never say never. The word altcoin itself is an illusion. It is like saying every other website other than Google is an "altsite" because Google is the most popular. Guess what? Google was not even popular until after 2000. During the dotcom bubble, Yahoo was the biggest company. Google only cam along around 2000-2002 and has been growing ever since. Does this mean Google is an "altsite" to Yahoo? I don't think so. There are many coins and tokens coming out with better tech than BTC. It is only a matter of time before something surpasses it. When will this be? God knows, but it is more likely to happen then not. |
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As it stands, Bitcoin is a fad. Most people on Earth do not know what it is. I would bet over 50% still haven't heard of it. By definition, that is a fad. It has not proved itself. It needs to continue growing, the infrastructure needs to grow and more people need to buy it and use it for it to be taken seriously. Compared to the internet boom, crypto is still in the 90's... and the internet is only now being considered as something that is here to stay forever.
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Hi All,
Please help me understand in plain English how will we benefit from so many currencies?
I see so many startups with decentralized blockchain ideas with their own crypto currency.
Today I purchased oatmeal directly from a mill at their website.
This mill sells its products thru grocers and other online stores as well.
They probably gave 3% to the credit card company, which they could reduce by using blockchain.
But if every store and every business starts creating their own currency, then I will have to go thru an exchange to convert BTC or ETH to that coin to make some purchase.
Then we would need miners to process all those transactions in various coins.
Why can't they just use ETH? Just like all IPOs use dollars.
Thanks in advance
It is not as altruistic as you are proposing here. While what you say is true and 99% of coins will die eventually and become worthless, the reality is that they are so easy to make it simply does not make any sense for someone who owns a business to make a coin for said business, do an ICO and run a bounty campaign. Bounty campaigns are free as you pay using your token/coin so there is very little risk and a great potential reward. |
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