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The first time I have heard about Bitcoin I thought it was a online currency for criminals to use to make transactions online. The more I read about it, I believed that it could be a game changer in the world of finance. As I went into it deeper and deeper, I am into the thinking of it being a censorship resistant, decentralized, value transfer system that is perfect for the dark market participants. I believe they are also classified as criminals.
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Maybe it's just the Winlkevoss Twins selling off a portion of their hodlings, since, you know...
Or Roger Ver is selling his 300 000 fortune, because he already know that BTU will win battle and remove BTC from market..  Allow me to enlighten you a little. Read this http://www.coindesk.com/bitcoin-exchanges-unveil-emergency-hard-fork-contingency-plan/I also believe that you have automatic BTU if the fork splits the blockchain. Please correct me if I am wrong. And if not, you already have BTC that will become BTU. So no need for Roger Ver to do anything. Or maybe he wants to split the blockchain so that he will double his 300,000 fortune. If a single individual could single handedly influence the fate of bitcoin by splitting the block chain and there by increasing his fortune will not stand in a good note with all the officials who are trying to pass the ETF and this will be shown as a proof in the future and the growth will be shunned if anything of that sort will happen.I am not sure how these things will play out and may be people who invested in it are not willing to risk what they are not sure and so is the reason for the sell off. Let us say I was not joking, which I am. You say that it will not leave a good note on the officials who decide on the fate of the ETF? Those same corrupt officials who accept grease money from the billionaire elite to accept their whim? The same officials who pressure some companies they do not like and use some form of political extortion? |
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This is a sad month for all bitcoin users. We are now faced with the possibility of a split community the other one is with the core developers while the other group is with Bitcoin Unlimited. It is sad to see that bitcoin will split into BTC and BTU however it seems that this time we can no longer meet a consensus and thus bitcoin will split like Ethereum and Ethereum Classic.
Sad? Why would it be sad? The big blockers are saying that a fork is "healthy" and at some point, to make everyone happy, it is unavoidable. Some people with Core themselves think almost the same. If you're not happy then go ahead and do a hard fork. The only sad thing I can see happening here with all the Bitcoiners is the dropping price. Get over it. |
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I think that it'd be ublikely for BU to receive overwhelming support over the next period of time and hence it is destined to fade away just as XT did. The non-organic support it receives at the moment will simply not be sustained as supporters see that it is not catching on and start moving onto doing better things with their time and hashrate.
I disagree. XT did not have the support like what Bitcoin Unlimited is enjoying right now. Look at the charts of the growing support for BU and the diminishing support for Core. The trend has never been clearer. If BU reaches 50%, which I think it will, if the current trend continues, then it would be good to research more about replay attacks and what steps to do to ensure that you will receive your share of BTU. |
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The article is crap and tries to induce in error less savvy readers.
There are a lot of bitcoin forks, litecoin and dogecoin are examples of such forks the same way Joomla! is a fork of Mambo, Bitcoin Unlimited is a protocol upgrade.
In bitcoin development what is called a fork, hard or soft, is different from what the author is trying to compare with.
BTW, the same claim can be made about the changes Bitcoin Core team is trying to introduce.
It will not be as simple as declaring Bitcoin Unlimited is a protocol upgrade. Maybe if Core, the big blockers and the other developers come together and agree "BitcoinX" is the protocol upgrade, then yes. But if something is risking the chain to split in 2 then the divide will grow wider. How then can you say that it is a protocol upgrade? It is a fork. |
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Coinbase are a conspicuous absence on the list. Who else is missing?
Yes but Brian Armstrong already declared his support for Core and Segwit activation months ago and that presumably is the unofficial statement from Coinbase. There we have it, the top exchanges declaring their support for Core. Those people must know what is really going on. Behind all the technical argument, there is really politics. |
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Maybe it's just the Winlkevoss Twins selling off a portion of their hodlings, since, you know...
Or Roger Ver is selling his 300 000 fortune, because he already know that BTU will win battle and remove BTC from market.. Allow me to enlighten you a little. Read this http://www.coindesk.com/bitcoin-exchanges-unveil-emergency-hard-fork-contingency-plan/I also believe that you have automatic BTU if the fork splits the blockchain. Please correct me if I am wrong. And if not, you already have BTC that will become BTU. So no need for Roger Ver to do anything. Or maybe he wants to split the blockchain so that he will double his 300,000 fortune. |
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Right now is the perfect time to trade in binary option with bitcoin price since it's going down it shouldn't be so hard to predict further drops.
If you hesitate in opportunities such as this you'll end up with nothing. so far I've earned $850 betting on price going down.
The people who say it is "easy" and that "now is the right time" in this forum are mostly the people who are not really that good at trading. I will believe you if you show proof that you are a winner in trading. It has to be a good and large sample size also. Not some isolated incident where you got lucky. |
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For perspective, look at some altcoin trading engines like poloniex. Swarmed with bots these engines express no considerable lag at all, neither do the web frontends.
Even if the engine has unfixable throughput problems, this could be tackled at the incoming end: new orders should be denied by API/web frontend if they can't be executed in a timely manner. Everything else is borderline criminal.
See my thread regarding Poloniex lag and not being able to trade at crucial moments: https://bitcointalk.org/index.php?topic=1830920.0I wholeheartedly agree that the ethical burden is on the exchange. They can control how many trades are taking place simply by halting trading or limiting the number of traders either at one time or in general. The thing is, with all the fees these guys are making daily, it really should be no problem for them to hire top notch engineers to solve these problems for good. How sure are you that these exchanges make that much in fees? Before you talk and make accusations please make a study and research them well. It would so easy for us to make posts like these but the reality is Bitcoin exchanges mostly do not make much at all. Most of them will close or will be taken over by the bigger exchanges. My guess is they either don't want to solve the problem or are creating the problem themselves.
Another slanderous statement. Where is your proof? |
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Kraken accounts for less than 10% of the total Bitcoin daily volume, please explain how they could have manipulated the global price?
This the first thought that came in my head when I read the title of the thread. Chinese exchanges, before the People's Bank of China intervention, maybe, but not Kraken. OP, losing in trading tends to make us think about "skeletons in the closet". This may be one of them. |
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Is Binary Options the same as trade for you?
What are the differences?
A binary option is like a bet on a bet. It is a kind of derivative that make you gamble on the movements of the market. Real trading gives you more options to truly own an asset or a security and in our case Bitcoin and altcoins. In binary options you do not own anything. Think of it as something like a video game for trading with real money used. |
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No one in his right mind will keep coins in a chinese exchange anymore. This is exactly why I believe the Chinese exchanges are being killed and will be killed by the People's Bank of China. They will drag this ban on cryptocurrency withdrawals for as long as it takes. Even if they confiscate all BTC in China and all mining power (so much that they could control the network), the BTC community could simply do a hardfork of the BTC network (a freeze, if you will) and continue with a different algorithm from that point in time on. It will be really bad for the price of Bitcoin though. The top altcoins are gaining ground in the dominance. Read this http://coinjournal.net/bitcoin-dominance-index-crashes-80-ethereum-dash-rise/One that is not controlled by China. It is easier to hardfork BTC software, than to build hardware with more than 51% hashpower for algo XY, a race that China cannot win. Why talk of a hard fork? The present debate on it is as bad as it is. It must be avoided. So I guess BTC cannot be killed, not even by Chinese government. Yes. Just like how the Chinese government cannot kill Dogecoin.  |
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I am a noob so please enlighten me about technicalities of how hard fork woks exactly.
In case of hard fork we will have 2 versions of bitcoin, just like Ethereum has classic version and standard version or there will be be only one updated version?
I always wondered why there are 2 Ethereums around and I don't want bitcoin to be divided like that as well.
Yes, we will have 2 coins. The original chain (BTC) and the hard forked altcoin (BTE or whatever they call it). How will have exactly the same coins in both chains (not if they are kept at the exchanges) So what you have to do is dump BTE before it becomes stagnant like ETC, this way you get more bitcoins for free. But BUcoin is dead after the bug, it has no real support anymore so there will be no hard fork most likely unless Jihan Wu is on a suicide mission.I predict the great Jihan Wu of Bitmain will change tack and declare support for Core and Segwit just like Brian Armstrong of Coinbase did. They will realize that off chain transactions is the superior solution compared to dynamic block sizes. |
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OP, the reason is simple, it is all a bubble. There are whales behind the scenes that are pumping the price. I also believe connecting the price of Bitcoin with the direction of the stock market is a mistake. Bitcoin operates and moves beyond all the traditional ways of economics. It is its own little world.
Bitcoin price bump is based on the people use it. Demand and supply determining the value of bitcoin whether it is bump or dump. You could check in Google, many of the companies are initiated block chain technology to the firms to make more secured to avoid the hacking issue through out globally. Bubble is because of heavy rate of adoption around the world. Its been continuing till this year end. Wait and watch to see the next peak value. Then please present the evidence. I believe we have not really seen Bitcoin really being used as a currency yet. Most of the transactions are from the dark markets which is growing but it is not really that big yet. The rest are being held in wallets as an investment. Present the numbers and the stats then I will believe you. |
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So I ask the serious question : Apart from network effect, what does bitcoin have going for it right now?
* still the highest market cap * still the highest trading volume * the first mover advantage/most recognised cryptocurrency * highest hash rate/most secure (debatable) * highest merchant adoption * still considered to be trustless and decentralised (ignoring geographical centralisation) * still anonymous (if you try real hard) * still faster and cheaper than most international bank transfers (but this could change soon) * still proves to be effective as a long-term investment or store of value That's all I can think of. But if stalling continues, BTC could easily lose its "No 1" badge, causing serious damage to the entire cryptocurrencies market, which would then be seen as only good for short-mid term speculation. Glad someone gets it. If you think Bitcoin can't fall from #1, get your head out of the sand! Yes, this is very true and the fall might be just around the corner. I may not like what Roger Ver said when he mentioned sending $100k worth of Dash for pennies in fees but I believe we must take that as a cue to start investing and hold other cryptocurrencies to be safe. Roger Ver is the BTC Jesus after all. He has a nose for what is in store for the future however some may disagree with him. |
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It is time to get away from the traditional way of thinking when it comes to Bitcoin. Bitcoin can open up and create new markets just like the Silk Road and the others that have been set up right after it was shut down. The dark markets are growing and it is the future for Bitcoin at its truest sense since they operate outside any law. If you do not believe in that then go buy and invest in something tangible like gold since Bitcoin is only an "investment vehicle".
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OP, the reason is simple, it is all a bubble. There are whales behind the scenes that are pumping the price. I also believe connecting the price of Bitcoin with the direction of the stock market is a mistake. Bitcoin operates and moves beyond all the traditional ways of economics. It is its own little world.
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Google trends for bitcoin hard fork are up: trends.google.pl/trends/explore?q=bitcoin%20hard%20fork
Good thread here by the way. For my strategy, I intend to follow Roger Ver and make a "safer" investment in Dash or maybe XMR and LTC. Roger Ver is one of the Bitcoin pioneers and he knows what he is doing, especially when to comes to cryptocurrency investment. I will start doing this if the total miners' support for BU is at 50%. |
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Take your Bitcoin blinkers off and you'll see the Chinese are currently cracking down on all markets in a similar way.
Exchange withdrawals will return when the exchanges are properly regulated and accountable. If they can't manage that then they'll be closed. The Chinese market will be a very different and more peaceful place when it returns.
Maybe. But I believe the People's Bank of China will drag this on for as long as they can and keep adding restrictions until the exchanges get out of business. A form of restriction would be to issue very high taxes and license fees making it very hard for exchanges to operate. and what would be the point of that? Chinese are already trading bitcoin even with their exchanges closed, so there has been no difference in the end. people do it anyways. and PBoC is well aware of it too. and i am sure knowing this they will settle for some middle ground to bring people back to exchanges that will be regulated by then so they can control them just like how they control Forex and stock exchanges. The point for that will be to flush out and close down the exchanges and set up one that they control. There is no settling on the middle ground when it comes to the Communist Party of China. They control all and rule all. Bitcoin exchanges and their operators are too small compared to them and they could step on them like a fly and scrape them off their boots. The good thing about it is it will put Bitcoin in the underground and away from their control. The Chinese exchanges want for some "legitimacy" is their downfall. |
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