There seems no exchanges that supports EOS has a New York license.  So New Yorkers can only use Coinbase which does not support EOS?

[Correction: The observation below was based on ViaBTC mining pool only.]

Correction: The observation below was based on ViaBTC mining pool only.  

I have been observing the BTC and BCH price and the hashrate all day today and I found this interesting correlation between BTC and BCH:
BCH has about 6% of hashrare of BTC and so as its price to BTC' price.

The prices of BCH and BTC are about $210 and $3234, respectively, at this moment.  Whereas the hashrate is 24 petahash for BCH and 378P for BTC.  Both of the price and the hash ratio are around 6.3% to 6.5%.

Let's see if this ratio relationship, BCH price/BTC price = BCH hash/BTC hash, will continue to hold for at least  a few days.

I just got this in the email.  Here is an excerpt of the most important message in the email:

"Over the last several days, we’ve examined all of the relevant issues and have decided to work on adding support for bitcoin cash for Coinbase customers. We made this decision based on factors such as the security of the network, customer demand, trading volumes, and regulatory considerations.

We are planning to have support for bitcoin cash by January 1, 2018, assuming no additional risks emerge during that time.

Once supported, customers will be able to withdraw bitcoin cash. We'll make a determination at a later date about adding trading support. In the meantime, customer bitcoin cash will remain safely stored on Coinbase."

Hopefully, the value of BCH will sustain even though it is unlikely.

It looks like BCH is here to stay.  For now, it seems that the combined value of both BTC and BCH is, consistently, around $3000.  When BTC goes up by $50, BCH goes down by $50 and vice versa.  Not sure how long this relationship will last.  I do not mind for my exchange to sell off BCH now in exchange for more BTCs.

They said that Bitmain and Roger Ver were going to sell off their bitcoins and put the money into BCH after the fork and they are probably doing it right now.  That is why the price of BCH is sustaining at this moment.  Once they run out of the capital from selling bitcoins, the price of BCH will probably drop. 

If BCH made it and survived with a decent price, that would encourage more similiar Bitcoin split in the future - which is not a good thing in my humble opinion.

I got the following message from Cionbase an hour ago, I was not aware of the hard fork on August 1st,  is there really going to be one?!


Dear Coinbase Customer,

We are contacting you to make you aware of recent developments in a number of proposals for technical changes to Bitcoin. All BTC stored on Coinbase will remain safe during these events described below.

The User Activated Hard Fork (UAHF) is a proposal to increase the Bitcoin block size scheduled to activate on August 1. The UAHF is incompatible with the current Bitcoin ruleset and will create a separate blockchain. Should UAHF activate on August 1, Coinbase will not support the new blockchain or its associated coin.

The User Activated Soft Fork (UASF) is a proposal to adopt Segregated Witness on the Bitcoin blockchain and could result in network instability. It is scheduled to activate at the same time as the UAHF.

To ensure the safety of customers’ funds, we will temporarily suspend BTC deposits, withdrawals, and buy/sell starting approximately 4 hours before activation of either fork.

If you do not wish to have access to UAHF coins, and do not wish to access your BTC during the fork, you are not required to take any action.
If you do wish to have access to UAHF coins or access your BTC during the fork, you should send your BTC from Coinbase to your external address by July 31.

In a month, Segwit (BIP148) will be implemented on Bitcoin and many people are uncertain on what effect it would have on Bitcoin's price.  Maybe that is why the price of Bitcoin has been fluctuated, on the most part, between $2400 and $2800 for the last one month and not going higher despite of many positive and encouraging news that recently came out.  It is possible that after the Segwit implementation, Bitcoin may folk into two.  When that happened, it may cause confusing to the market. 

Question is, if folk happened, for those vendors who accept bitcoins, how are they going to manage accepting the two different coins?  For those who keep their coins in cold wallets, what would happen to the coins?  How does a Bitcoin platform, like Coinbase for example, manage its customers' deposited coins?  And the most important question is - would Bitcoin price drop in the short run or even in the long run due to the folk?

What do you think? 

[Meet The Man Traveling The World On $25 Million Of Bitcoin Profits]

Just saw this inspiring story today and felt the obligation to share.

Meet The Man Traveling The World On $25 Million Of Bitcoin Profits
https://www.forbes.com/sites/bishopjordan/2017/07/07/bitcoin-millionaire/#16c131956261

The guy bought 20,000 BTCs with $3000 when a bitcoin was sold at $0.15 in Oct 2010, sold 19,000 of them after 3 years at different time periods, and got a realized profit of $25M.

"For the next three years, Smith worked his day job and largely forgot about his investment, until Bitcoin’s price leaps started making more mainstream news in 2013. “I couldn’t believe how quickly it was appreciating,” says Smith, speaking very quickly now. “It started rising by 10% or more every day. I was nervous, and excited, and terrified and confused all at the same time.” When the price hit $350, more than two thousand times what he paid for it, Smith sold 2,000 of his early stock; when the price hit $800 just days later, he sold 2,000 more. Just like that, Smith had landed upon a windfall of $2.3 million. “It was absolutely insane,” he says. “I quit my job and left on a round-the-world trip the following week.”"

What do you think?  Any similiar stories to share?

Some said it will.  What do you think?

(The estimated 2017 GDP in the US is $19.4 trillions.  If the price of a BTC increases to $1M, with 21M in total supply, the market cap would be $21 trillions.  Of course, the $19.4T is in present value and the $21T is in an unknown period of future value.)

Business Insider CEO Henry Blodget said Bitcoin has no intrinsic value. 
https://www.youtube.com/watch?v=RxycmMo8Z2o

If Bitcoin has any intrinsic values, then what are they?  The author of the video did bring up 10 "intrinsic values".  It is very hard to determine if they are intrinsic values or just characteristics.

What do you think of all of these?

[Lightning Network]

Just read this article you Jimmy Song - Segwit2x: What you need to know about the 2x Hard Fork (aka 2MB non-Segwit Transaction Capacity per block/8MB Total Block Size Hard Fork)
https://medium.com/@jimmysong/segwit2x-what-you-need-to-know-about-the-2mb-hard-fork-

In the "What this means for you" section, it mentioned about that we may have Lightning Network soon after 2 months.

"Practically speaking, as long as Segwit2x releases something that works for mining by July 21, we should get Segwit on the network around August 23. That means that Lightning Network transactions should be available soon after and everyone will be watching to see if block congestion and transaction fees reduce."

Am I interpreting it wrong?  How many transactions per second can it precesses?  How fast will it be compared to what we currently have now?

I know some companies are working on running blockchain on private network, but how is it decentralized?  Isn't it still centralized if their are having their own computers (nodes) doing the validation?

Not only in Bitcoin and Ethereum, but at least 90% of the cryptos prices are going down at this moment.  Many Youtubers said that this is normal in the cryptos space, are they correct?  I am not in this market long enough to understand this.   

On August 1st, they will implement the Segwit and there are some uncertainties involved.  If I were wanting to invest, should I do it before or after the date? 

My concern is that the price would still be higher than the price on August 2nd if the implementation did not go as smooth as planned and caused the price to drop.

Also, what is the official words on the implementation? 

I have more posts than activities.  What do I need to do to increase my activities number?

What is your cryptocurrencies holding distribution or your ideal % holding?

Ex:
Bitcoin:      50%
Ether:        40%
Litecoun:    10%

 

Is it a correction?   

Where is the bottom?

http://www.c[Suspicious link removed]m/2017/06/20/bitcoin-millionaire-erik-finman-says-going-to-college-isnt-worth-it.html

Erik invested in bitcoin when he was 12 and not is a millionaire at age of 18.  This is a good story for Bitcoin.

But here is something that I do not understand:

An excerpt from the article:
"Eventually he found a buyer for Botangle's technology in January 2015. The investor offered either $100,000 or 300 bitcoin, which had dropped in value at that time to a little more than $200 a coin. He took the lower cash value bitcoin deal because he believed it was "the next big thing."

"My parents asked 'Why don't you take the more cash?"' Finman explained. "But I thought of it more of an investment.""

Why didn't he take the $100K and bought more bitcoins instead?  Granted that there has to be some tax consideration, but tax rate has to be as high as 40% in order for both of the cash option and the bitcoins option to breakeven.  If the tax rate was at 40%, then he could get $60K after tax and would be able to buy 300 bitcoins at the market price ($200 at the time).  Moreover, one day when he sells the bitcoins, he can dedect $200 on each of the bitcoins from the capital gain as cost.

Am I missing something in here?  Don't drop out from high school?   

Is there anyone smart enough to figure out how to compute the fair price of Bitcoin?

Any ideas?  Suggestion must be quantifiable. 


Could the following equation be utilized?

MV = PT (the Fisher Equation)

Each variable denotes the following:
M = Money Supply
V = Velocity of Circulation (the number of times money changes hands)
P = Average Price Level
T = Volume of Transactions of Goods and Services

 

Any idea on why their prices are dropping in the past 3 to 5 days and are continue to do so?

Yahoo was the first (?) search engine at the time when Internet started.  It was the pioneer in its field.  In the late 90's its market cap reached to a high closed to $120B.   Three and a half years after Yahoo started, Google came out and gradually took away market share from Yahoo.

After 22 years, Verizon bought it for $4.8B.  Would Bitcoin ending up like Yahoo in the future and got beat up by new competitions?

What do you think?  Please provide your reason(s) to support your view.