I also am wondering why the Chinaman mining cartel is so brave to challenge MP. 200 million yuan ($29 million) is peanuts for MP. Perhaps the Chinese government has committed to provide as much funds as is necessary. I would love to see MP defeated and bankrupted. Would be a good lesson for him about relative size of economies (China is a not an overleveraged, vacuous fiat house of cards yet like the West).
That's certainly possible. That is not possible. Why would the Chinese government support and provide funds to the Chinese mining cartel? They are then indirectly supporting a currency they so very much detest because of its uncensorable nature. What would forcibly deplete MP's holdings?
Is it possible that Satoshi's holdings are accessible? If so, could it be used to combat MP? The minute the news of a group gaining access to Satoshi's holdings come out, say bye bye Bitcoin. We cannot have a dumping war. We all lose in the process. Does any of this change the need for a system that does not centralize yet provides improved functionality over Bitcoin and others?
If not this, there always be something in Bitcoin. It adds some spice into it. |
|
|
|
Looks like some cute whales are trying push the price back in triple digits lol. Get them boys!
I am not as optimistic as you. We have seen this kind of price movement in the past. After a dump the price will stay where it has fallen for a few months before going up again or going down again. It will depend on what the market sentiment is during that time. With the Segwit vs. BU story still unfolding and might go on for a long time, I am not that sure it will go up. |
|
|
|
SegWit as proposed already will increase the size of the block and the burden on nodes very substantially.
Fair enough. I guess this is where we can shake hands and agree to disagree. Sure Segwit offers *some* on chain scaling, but too little too late for my taste. I want to ask if the increase in block size through Segwit not enough for the present number of transactions. Is it not already a big improvement? What do you think the average block size be today if we were using Bitcoin Unlimited? |
|
|
|
|
The Chinese can learn a lot from the dark market users in how to use Bitcoin properly. To think of it, not only the Chinese but also all of us for that matter. Bitcoin users should not forget its roots and should not sacrifice their privacy for a little show of legitimacy in eyes of the banks.
|
|
|
|
they are really not related to each other at all. bitcoin price moves independently and altcoins get pump and dumped independently.
the only relationship they might have is that altcoin pumpers usually use the bitcoin news to their own advantage. in other words bitcoin has always been an excuse for them to pump their altcoin.
for example bitcoin price goes up, they pump the coin saying crypto is the new hot topic of the world and everyone is investing in cryptocurrencies so we our shitcoin is also rising because of bitcoin.
then bitcoin price goes down, the same pumpers say bitcoin is dead and we are replacing bitcoin so they pump their altcoin.
in the end, as far as altcoins go and trading them, you should look for the signs of a pump in early stages and join in to make the most profit by getting out fast before the pumpers do.
That is not true. Altcoins' prices all revolve around what Bitcoin is doing. How can they be independent when all the altcoin are paired with Bitcoin? All of them want to rise against Bitcoin's value and gain a good percentage of Bitcoin's market cap. The relationship of altcoins with Bitcoin is direct and will never be independent. |
|
|
|
Who is Mircea Popescu??First time, I've seen this document where he promises to do what I just deduced upthread that he would do: The code he is referring to is here: http://thebitcoin.foundation/index.htmlSo MPeX and his WoT are the masters of Bitcon. Bitcon is not a decentralized currency. This presents a slight problem for any altcoin that attempts to challenge Bitcon. MPeX and his rich friends will attempt to attack it in order to protect their monopoly over cryptocurrency.
The more wealthy he and his bankster WoT become, the more enslaved we become. I don't like this arrangement.[Edit: being very sleepy I didn't really think out the above statement well. I am retracting it because if any altcoin can be attacked then it isn't decentralized and thus isn't an improvement on the power vacuum that is Bitcoin.] Note back in 2013, MPeX sent me (@AnonyMint) a PM. It was something about his enemy @rpietila who he refers to as "tortilla". Since then Risto has had his laptop hacked, been put in a mental ward and subjected to forced medications, etc.. I don't know what to think of all that. Can you update me on Mircea Popescu's involvement. I already mentioned in the other threads if there was a guy capable of annihilating Bitcoin Unlimited it was him. Is there definite proof of his involvement? Sorry but I am lazy of reading the whole thread. If you would be so nice to give me the link of the post where Mircea's name was first mentioned then I'll read it all up. Thanks. |
|
|
|
What is the news on this latest dump? What other bad news could make Bitcoin go down below $1000? I agree with some of the comments here. This is a time to look for an opportunity to get in. Sooner or later Bitcoin will start going back to its longterm trend of going up again.
I haven't seen anything new really. it is the same old thing, still the same bitcoin is gonna fork, abandon ship kind of situation. but yeah, price is now at a low level making it a good entry point for anyone who wanted to buy 2 months ago but couldn't because they said "the price is high". day traders are enjoying themselves these days though  The traders plan of the month must be to short sell Bitcoin now. If that really is the plan, then we should expect this trend to go lower. Placed bids at $800 to $850 just in case there is another dump going there. I might get lucky again |
|
|
|
Hey guys,
was wondering. the price of altcoins is pegged to bitcoin. When value of bitcoin is going down, altcoin value goes down too. How do you make a profit now?
Unless you buy the cheap bitcoins now and change it to altcoins.
Some suggestions. Thanks!
I do not think that is accurate. When Bitcoin goes down in value in fiat, the altcoins rise in value against Bitcoins. Look at Poloniex, all the altcoins are in a bull run at the moment. |
|
|
|
|
What is the news on this latest dump? What other bad news could make Bitcoin go down below $1000? I agree with some of the comments here. This is a time to look for an opportunity to get in. Sooner or later Bitcoin will start going back to its longterm trend of going up again.
|
|
|
|
well i gotta admit some has provably thrown down the gauntlet with $40 Mil, if Ver really believed in BU he would have no problem takeing the next step to follow through or meet the bluff which he has not done.
This he not done yet and so establishes beyond a shadow of doubt he does not back BU as much as he does BTC [Core]
Roger Ver is an opporunist, he will support whatever chain that gives him advantage. He also could be supporting the blockchain split so that he could double his coins. |
|
|
|
Altcoin is beginning to look like a good choice if the scaling debate cannot be solved until the end of this year. I am willing to transfer half to altcoins and hold the other half for the blockchain split.
Sad truth, but advised to save investments. ETH beeing a forking joke, DASH a premine and Ripple not even worth mentioning but they can provide a save hedge from this BU/Core madness. Maybe we should reevaluate DOGE even? I am looking at Litecoin for now. Its value in fiat is stable enough for me to buy and hold, there is no downside threat and Segwit might get activated in the network. |
|
|
|
They're used to it. It won't have any effect at all.
Not all. I would like to think that a portion of the Chinese Bitcoiners are enlightened and know that they should stick it to their government in times that it is truly needed. Being a Bitcoiner could be one of those "sticking it to the government". If it was possible, I believe foreign exchanges should start getting a good number of those Chinese traders. If Localbitcoin's numbers are up then that means there is a good market for foreign Bitcoin exchanges there. I think they're all used to being shit on by their government, just like all murricans are used to bending over and letting the IRS rape them every April. No one is exempt. I doubt any Chinese are trading bitcoin for philosophical reasons. Sure, they are trying to use bitcoin to hide money from the government but they aren't "sticking it to the govt". They're terrified of the government. If you think about it, Bitcoin is the perfect medium for them to rattle the cage. The strict laws will subsidize BTC because of its disruptive nature. How is the volume of Localbitcoins over there. It must be rising by now. Rattling the cage in China isn't the same as it is in the west. Rattling the cage in the west:  Rattling the cage in China:  I believe you still underestimate what Bitcoin is. Bitcoin means they do not need to be on the streets and do a protest. Support for it is enough. Decentralization and censorship resistance through software is the new medium for resistance. We may only be scratching the surface. I understand how bitcoin can be used in a perfect world. Yes, it could be revolutionary and take power away from central banks but that requires never involving fiat. That means trading bitcoin for goods and services and getting paid for your labor in bitcoin. A complete bitcoin economy isn't happening anywhere in the world. I might be underestimating the Chinese ability to hide what their doing. I'll admit that. But I think you may be underestimating their fear factor and how much their citizens turn each other in to the government to save their own asses. The customer verifications that were put in place is their government's response to maintaining control.That is true. But I do believe strict rules and authoritarian government is the perfect place for Bitcoin to be used. There is also the "greed factor" among its users because its value could still go up. I was surprised that the PBOC did not penalize the Bitcoin exchanges. Maybe they know they could not stop it? |
|
|
|
And naturally the better team will usually come up with better code compared to the inferior and incompetent team.
You can have better coders who happen to be coding the wrong thing. "What" they are coding depends on the visionary of the project. Core is mostly coding what Blockstream wants (lets just all admit that)...and their agenda is as little on chain scaling as possible. For me personally, off the chain scaling always more sense to for Bitcoin. There is much more possibilites if we do it that way. But I am not saying it is perfect. It will have its own problems. BU team's vision is on chain scaling.
So they are coding totally different things, and that is a separate aspect from the skills of the developers.
I get that and respect it. But it will never mean that the reason why the miners are following them is because they are better or their code is better. Politics and the need for control is one of the main reasons or maybe the main reason. |
|
|
|
. I dont trust BU dev they're not skillled enough.
and yet miners are choosing their software over Core anyway. What does that tell you? It tells a whole lot that it doesnt take the better team of developers to be chosen by the miners. Politics is in play here and quite possible greed too. But we get it, whoever wins, wins. The losing side must accept peacefully for the sake of the community. WHAT you code is more important than who is coding it. Yes exactly that. Let us make a poll. What is better the Core software or the Bitcoin Unlimited software? And naturally the better team will usually come up with better code compared to the inferior and incompetent team. To be clear and fair, I am not saying the BU developers are. I mean that generally. |
|
|
|
They're used to it. It won't have any effect at all.
Not all. I would like to think that a portion of the Chinese Bitcoiners are enlightened and know that they should stick it to their government in times that it is truly needed. Being a Bitcoiner could be one of those "sticking it to the government". If it was possible, I believe foreign exchanges should start getting a good number of those Chinese traders. If Localbitcoin's numbers are up then that means there is a good market for foreign Bitcoin exchanges there. I think they're all used to being shit on by their government, just like all murricans are used to bending over and letting the IRS rape them every April. No one is exempt. I doubt any Chinese are trading bitcoin for philosophical reasons. Sure, they are trying to use bitcoin to hide money from the government but they aren't "sticking it to the govt". They're terrified of the government. If you think about it, Bitcoin is the perfect medium for them to rattle the cage. The strict laws will subsidize BTC because of its disruptive nature. How is the volume of Localbitcoins over there. It must be rising by now. Rattling the cage in China isn't the same as it is in the west. Rattling the cage in the west: Rattling the cage in China: I believe you still underestimate what Bitcoin is. Bitcoin means they do not need to be on the streets and do a protest. Support for it is enough. Decentralization and censorship resistance through software is the new medium for resistance. We may only be scratching the surface. |
|
|
|
. I dont trust BU dev they're not skillled enough.
and yet miners are choosing their software over Core anyway. What does that tell you? It tells a whole lot that it doesnt take the better team of developers to be chosen by the miners. Politics is in play here and quite possible greed too. But we get it, whoever wins, wins. The losing side must accept peacefully for the sake of the community. |
|
|
|
|
Altcoin is beginning to look like a good choice if the scaling debate cannot be solved until the end of this year. I am willing to transfer half to altcoins and hold the other half for the blockchain split.
|
|
|
|
Do you really think that the people who bought BTC cheap and held it all these years through the highs and lows were just "lucky"?
from experience most who held (from lows to highs) did so because they forgot about btc or ignored it for years LOL Yeah, that's what I think too. That's has more to do with dumb luck than mad trading skillz. Ver was an angel investor. I would expect him to have a bunch hanging around. This guy named James Howells bought something like 7,500 btc in 2009 and threw away a hard drive. He remembered he had some after the price went up and looked for the hard drive only to remember that he threw it away. That's like buying Apple stock at the beginning and throwing away the certificates. That's got to sting a little. Or maybe they super early adopters had a real plan from the beginning. What if Group Satoshi knew exactly what they were doing in creating the censorship resistant currency, this forum, the darknet market and the acquisition of the first BTC exchange from Jed McCaleb. It all started from there and the rise and rise of Bitcoin might be no fluke. |
|
|
|
calm down guys... the source code was published this morning.
That is good news. Let us hope for the future the network the BU developers do a good job. Whoever wins, wins and hopefully the community will come together again. The losing side should suck it up and accept defeat'peacefully. |
|
|
|
They're used to it. It won't have any effect at all.
Not all. I would like to think that a portion of the Chinese Bitcoiners are enlightened and know that they should stick it to their government in times that it is truly needed. Being a Bitcoiner could be one of those "sticking it to the government". If it was possible, I believe foreign exchanges should start getting a good number of those Chinese traders. If Localbitcoin's numbers are up then that means there is a good market for foreign Bitcoin exchanges there. I think they're all used to being shit on by their government, just like all murricans are used to bending over and letting the IRS rape them every April. No one is exempt. I doubt any Chinese are trading bitcoin for philosophical reasons. Sure, they are trying to use bitcoin to hide money from the government but they aren't "sticking it to the govt". They're terrified of the government. If you think about it, Bitcoin is the perfect medium for them to rattle the cage. The strict laws will subsidize BTC because of its disruptive nature. How is the volume of Localbitcoins over there. It must be rising by now. |
|
|
|
|
Show Posts
