This is the forgotten issue. I believe the People's Bank of China will drag it on for years until the exchanges realize that they do not have any control on the matter. Some of the Chinese exchanges will close especially the smaller ones because of the shrinking volume. The exchanges left will have no choice but to wait and be under the boots of the PBOC.
PBOC may delay the withdrawal of bitcoins.Due to this,chinese gamblers have temporarily lost their ground in bitcoin trading.If PBOC had not taken this action,the chinese would have dumped their bitcoins during BU and hard fork issue resulting in a great fall in bitcoin price.BItcoin market has temporarily survived from the chinese gamblers. What are you talking about? You do not make too much sense! It would be the right time for them to dump now because the Bitcoins they have in the exchange is now useless. They cannot move them out and send them to their wallets. Dumping now and withdrawing their CNY is the better move. They cannot risk all their money trapped in those exchanges. Maybe you do not understand the situation. |
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When do you think chinese exchanges will resume withdrawals?
Quite uncertain but i am concerned more on the market move after all this suspension will be lifted. What chinese traders are thinking to do when they will get their bitcoins in their hands from trading platforms.  they have had their bitcoin from those platforms it is their money that is tied inside of these exchanges and that is because it is tied to the banks. in other words a bank is required to deposit or withdraw your fiat to and from an exchange but bitcoin doesn't need it and you can do it on your own. and i thought they have resumed the process by now! it is strange because i can see their volume already picked up.It just shows what the majority of the Chinese think about Bitcoin. Just something to buy and sell so they can make some CNY. |
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Dear Roger, Please sell your fucking coins and GTFO so the rest of us can get on with our lives. Sincerely, The Bitcoin Community  Who are you to tell him or anyone else to sell and get out? If you are not happy why not sell your Bitcoins and you get out so you can get on with your life. It is not all Roger Ver's fault this is happening. |
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It can be seen as also the miners' fault. Core does not have all the power to change everything. They have a proposal, it is Segwit. It is clear that the support behind it is not enough, then why blame everything to them? The miners are also at fault here. I have a feeling they want everything to stay as is so that they enjoy more profit if the fees remain high.
It could also be them who is spamming the network. Spend a little in fees to get a little profit in fees.
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BTC SHORT TERM:
Small pullback ahead? (+/-$50)
-Indicators saying yes
-Beartrap allert
-Uptrent will continue
Dont try to catch a falling knife because the risks are to big right now, so hold.
Happy trading all!
You are contradicting yourself. You are discouraging everyone from buying to avoid "catching a falling knife" but you encourage them to hold because you are saying the trend going up will resume. Would it not be better to buy will the price is dipping and hold more if the price is going up again? A bear trap is really a signal to "buy the dips". . Thats why its better to watch and enjoy. I dont contradict myself, that would make life really really dificult. That does not change anything. If you think the trend up will continue and you encourage everyone to hold then surely buying now is not "catching a falling knife". It is "buying the dips" because you expect the value to go up. |
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IMHO, SegWit's won, not because it's been activated, but because its definitely stopped BU's momentum to a terminal degree.
Just goes to show that those who try to hijack bitcoin's good name will inevitably get burned.
I mean FFS Roger, come up with a more original name for your own damn coin.
It can be also seen in reverse. The miners having their support behind Bitcoin Unlimited has neutralized the activation of Segwit and they also see this as a small victory for themselves. Segwit opens up the possibility of the LN which reduces their bonuses collected in fees. The status quo is ok with them because of the "fee market" structure. Maybe this is what the miners really want all along. Higher fees. Except for the fact that SegWit support has been going up while BU support is going down. So, it can't be seen in reverse. Besides, SegWit isn't trying to present themselves as a hostile takeover of the network. Not really. Segwit support is slightly going up, yes but it is not something to celebrate over. We should give it more time. Bitcoin Unlimited support go down but it has been ganing its losses lately. You can check the graphs of both. https://blockchain.info/charts/bip-9-segwithttps://blockchain.info/charts/bitcoin-unlimited-share
I agree that the fee problem is a bitch. But here's the thing: if the miner isn't happy with the fees they are getting, they can quit and that will make room for other miners willing to settle for less. That's the beauty of the system.
Do you really think that will happen after their investment in ASIC and very large mining farms? They will impose their will on the network and use dirty tactics to get what they want. |
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if china exchanger normal withdraw again, i think bitcoin price in china can incraese again
maybe same before problem with PBOC can leading market, bitcoin price higher in china exchanger, and volume transaction can higher too
But the problem is withdrawals will not be back for another year or more, I believe. As I said, the People's Bank of China will try to drag this on for the purpose of controlling the transactions of cryptocurrencies in these exchanges. They cannot allow their people to freely move value around on the internet. |
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This is the forgotten issue. I believe the People's Bank of China will drag it on for years until the exchanges realize that they do not have any control on the matter. Some of the Chinese exchanges will close especially the smaller ones because of the shrinking volume. The exchanges left will have no choice but to wait and be under the boots of the PBOC.
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IMHO, SegWit's won, not because it's been activated, but because its definitely stopped BU's momentum to a terminal degree.
Just goes to show that those who try to hijack bitcoin's good name will inevitably get burned.
I mean FFS Roger, come up with a more original name for your own damn coin.
It can be also seen in reverse. The miners having their support behind Bitcoin Unlimited has neutralized the activation of Segwit and they also see this as a small victory for themselves. Segwit opens up the possibility of the LN which reduces their bonuses collected in fees. The status quo is ok with them because of the "fee market" structure. Maybe this is what the miners really want all along. Higher fees. |
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BTC SHORT TERM:
Small pullback ahead? (+/-$50)
-Indicators saying yes
-Beartrap allert
-Uptrent will continue
Dont try to catch a falling knife because the risks are to big right now, so hold.
Happy trading all!
You are contradicting yourself. You are discouraging everyone from buying to avoid "catching a falling knife" but you encourage them to hold because you are saying the trend going up will resume. Would it not be better to buy will the price is dipping and hold more if the price is going up again? A bear trap is really a signal to "buy the dips". |
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Decentralized planning doesn't work. Just use the plane analogy. Do you let you passengers decide the size and type of your engines?
But at the same time, do you only allow one single entity to design all planes? In Bitcoin, no. Bitcoin Unlimited is still fighting for their case right? No one can shut it down and make them stop. It is their right. So with them or against them we should respect that right. If another entity designs a plane, does that constitute a hostile takeover or a power grab in the aerospace industry? Surely it's healthier if multiple entities come up with their own designs and then passengers decide which plane they want to board based on their own preference.
Yes and no. In the case with Bitcoin there are arguments it is both. |
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The idea behind UASF is to persuade/influence/ miners to fork, but
the problem is that anything except hash power is relatively inexpensive
to spoof. So, this goes against the philosophy of Bitcoin PoW.
right, but get mostly everyone, bitfinex, stamps, bitpay etc. all supporting USAF, and its not ambiguous and the idea of "spoofing" is a non issue. its not inconceivable that with a minority hashing power and a minority node count, a UASF is successful and carries with it the BTC brand. Nonsense. Just a lot more fools who can lose their money. The smart money will sell the USAF minority hashrate fork and buy the majority hashrate fork. Jihan might even temporarily mine on the USAF fork and lie-in-wait, so that the fools sell the legal fork and buy the illegal USAF forkoff, and the smart money will do the opposite. Then Jihan moves his hashrate onto the legal fork and bankrupts all the retards. Sweet justice in the law of immutable protocol. I wonder what people like Mircea Popescu are thinking about this whole drama right now. You should also factor in people like him and what potential twists they can cause in this whole debacle. I hope he does not go crazy and dump all his BTC to crash it out of frustration. Hell no. He is doing other things TM until it is time to take money from those who sell the legal fork and buy the illegal one. He will do the opposite. You seem like you are always in contact with the guy. Mircea Popescu strikes me as someone who is motivated and moved by his ideals. Your post is saying he is the exact opposite and only cares about making money. Its been a while since he did the DAO attack, so about time for some more retard spanking fireworks.
The rumor all point to him but is this confirmed? Do you know what his intentions are with all the ETC he "earned"? |
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We may discover how to eliminate any need to profit from a financial system.
BitcoinUnlimited is ahead of it's time still, Ethereum is a bit further than that.
How much people, power, etc. does it take to maintain a financial/value system, and who can do it better?
Bitcoin is up for bid.
Good luck.
Would this be bad? I don't think it necessarily has to be bad, even if this would be true. As long as there is not 1 instance in control, it's still decentralized, no matter if it's bots or humans. Let us say that at some point 51% of the bots will be controlled by one group. How is that decentralized and how is that good? It might be happening now with Bitcoin. The top Chinese miners could be talking behind closed doors right now. Facebook, Google, Amazon, Apple, Uber, TESLA etc all use bots.
they run node to supply the S&P500 server ? no. reality of privat network. stock exchange server are closed. not Bitcoin. Does not matter how many times you say it is. So what is the advantage of your proposal? What economic, efficiency and security advantage can it have over the system that we have today? Proof of Work is all about hash power, the more Bitcoin has the more it is secure. The more the miner provides, the more chances he gets rewarded. What does your bot idea have? |
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Looks like YORK is right once again. ETC turning bearish and BTC going to 1400-1500 USD and crashing afterwards. Are we rich yet? Going to $1500 and crashing at what levels? I knew that for weeks already lol If we break trough $1069 you can spank me  Is this set in stone for you or can it change depending on how the price of Bitcoin behaves? A lot of the smart whales will now start breaking that down, start to sell short and cause a panic because they know that the sheep traders will start buying into this new "floor". |
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The idea behind UASF is to persuade/influence/ miners to fork, but
the problem is that anything except hash power is relatively inexpensive
to spoof. So, this goes against the philosophy of Bitcoin PoW.
right, but get mostly everyone, bitfinex, stamps, bitpay etc. all supporting USAF, and its not ambiguous and the idea of "spoofing" is a non issue. its not inconceivable that with a minority hashing power and a minority node count, a UASF is successful and carries with it the BTC brand. Nonsense. Just a lot more fools who can lose their money. The smart money will sell the USAF minority hashrate fork and buy the majority hashrate fork. Jihan might even temporarily mine on the USAF fork and lie-in-wait, so that the fools sell the legal fork and buy the illegal USAF forkoff, and the smart money will do the opposite. Then Jihan moves his hashrate onto the legal fork and bankrupts all the retards. Sweet justice in the law of immutable protocol. I wonder what people like Mircea Popescu are thinking about this whole drama right now. You should also factor in people like him and what potential twists they can cause in this whole debacle. I hope he does not go crazy and dump all his BTC to crash it out of frustration. |
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The Resurgence of Litecoin
Last but not least regarding SegWit is the fact that the world’s second oldest cryptocurrency, Litecoin (LTC), is on the verge of signaling SegWit activation in their own network, spurring a boost in new mining software aimed to take advantage of the likely event of its activation. Litecoin has always been touted as the more environmentally-friendly version of bitcoin since not nearly as much computing power is necessary to keep its network running and blockchain secured. This has pushed the price of LTC to fresh highs on speculation that lower fees and faster transaction times provided by SegWit may give it an edge over bitcoin in terms of future user adoption. Still, if anything’s certain, it’s that the future of cryptocurrency is always uncertain. A mantra heeded to potential speculators hoping to capitalize one way or another on last week’s events could best be put in terms of an ancient axiom: “change is the only constant.”
The best case scenario for Litecoin is to become a testbed for Segwit. It still remains to be seen if it gains an "edge" on Bitcoin. Maybe if the dark markets started accepting Litecoin then we should have something to be worried about. But right now, as is, everything is still ok. Maybe LTC might gain some of the market that BTC has but it will not wholly dominate it. |
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It is also undeniable that some central planning is good for the overall development of Bitcoin.
No we should go for full anarchist decentralized development. We need to enable anonymous commits so anyone can push code into it without a PR so they don't need permission from a centralized authority for their code to make it into the binaries. In a perfect world where everyone is benevolent and where everyone is looking out for the welfare of everyone else that would be good. But this is far from a perfect world where greed, politics and the need for control is always in the game. Anarchy is an impossible idea. There will always be a group who will take advantage of the sheeple. |
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We may discover how to eliminate any need to profit from a financial system.
BitcoinUnlimited is ahead of it's time still, Ethereum is a bit further than that.
How much people, power, etc. does it take to maintain a financial/value system, and who can do it better?
Bitcoin is up for bid.
Good luck.
Would this be bad? I don't think it necessarily has to be bad, even if this would be true. As long as there is not 1 instance in control, it's still decentralized, no matter if it's bots or humans. Let us say that at some point 51% of the bots will be controlled by one group. How is that decentralized and how is that good? It might be happening now with Bitcoin. The top Chinese miners could be talking behind closed doors right now. |
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In Forex, trends of currency is no magical. It can be predicted from news like Bloomberg, etc. How about crypto money? alt coins? Would you mind to share how will I know which coin is profitable to buy or sell. No, it cannot be predicted by watching the news like the ones they have at Bloomberg. If you think it can then you need to learn more about trading. Trading news are mostly "market noise". It does more bad than good in your trading. Can you give trading websites, good news to learn trending coin or tools can be use in crypto trading. I just starting to self study trading with crypto. I'll update this OP for the tips I will get in your comment along with your user name to serve as credit. Thank you in advance. Self study will make you lose a lot of Bitcoins. It is better to find someone who is willing to teach you. There are trading chat groups out there that accept newbies. , but when we go and experiment ourselves only can understand the real growth of bitcoin. Also close observation of the price helps you to really understand the reality and profit out of it. Not true. There are some members that are helpful. Find one who is good at trading and befriend him or her. If you are lucky he or she could take you under his or her wing and teach you the proper trading methods. From there, your experience will grow. Later your trading style will differ from them because you will finally trade a style that is fit for you and you alone. |
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Yup pretty much, but what do you know eh? all bitcoin needs is a community of 20M daily users and I'm sure China has more than 50 times of such population, so while you guys are constantly bi**hing around spend some time thinking about that as well.
A community of 20 million users from China doing what? Buy and holding their coins or trading them in a website called an "exchange"? If Bitcoin gains that amount of "daily" users from China, it will be nothing for them except use it as a store of value or some kind of "digital gold". Maybe some will use it as a money laundering mechanism to get their money out of the country which is good. I would go for 20 million drug addicts using Bitcoin actively in the dark markets than the Chinese buy and holders and exchange traders. |
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