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February 21, 2020, 12:47:49 AM *
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461  Economy / Economics / Re: Bitcoin Whales have accumulated thousands of coins in last 2 months on: February 26, 2019, 06:12:40 AM
Now I don't know if this is due to people selling on exchanges, or simply leaving their money on exchanges. Though it does seem like it's pretty big news (if true) and whales are simply accumulating during this down time.

I wouldn't even call it news at this point. I mean, the narrative that whales make prices drop to make the weak hands sell only to buy back in again has been widespread for as long as I can remember. The manipulation part doesn't even need to be true; these guys have been amassing coins for a long time and those coins have to come from somewhere.

I guess it is pretty interesting to actually watch it unfold though. We could also take this opportunity to maybe act like baby dolphins lol.
462  Bitcoin / Bitcoin Discussion / Re: Who's filling up the mempool at the moment? on: February 26, 2019, 05:18:39 AM
-snip-

Oh, thanks for that. Even if this wasn't meant to be a spam attack, it looks like it's not deliberate.

Doesn't look like a spam attack to me. Maybe Venezuelans moving their hard earned money out one bolivar at a time before it becomes the next Zimbabvian dollar

I guess it's possible, but I doubt it. I feel like Venezuelan interest in Bitcoin is overblown in general. They did detain journalists very recently (more recent than the filling up mempool) but I don't think even that's enough to trigger a spike.
463  Bitcoin / Bitcoin Discussion / Re: Who's filling up the mempool at the moment? on: February 26, 2019, 03:34:18 AM
Yeah but the catch is that they are all VERY low fee txns.

I really don't want to go full tinfoil-hat conspiracy theorist here, but along with the low fee transactions spam, bitcoin suddenly dropped in price in a very short timespan yesterday(though not that surprising), along with that, BSV had a 16% pump in the last 24 hours. Hmm. Quite fishy.

What would the BSV camp have to gain from attacking Bitcoin though? I was under the impression that they're mainly competing with Bitcoin Cash. I know that big blocks make Bitcoin Cash more resistant to spam attacks, but even that shouldn't be a reason for them to turn their crosshairs to Bitcoin. Coincidence, maybe, or am I missing something?

Either way though, no one else seem to be talking about this. Weird.
464  Bitcoin / Bitcoin Discussion / Re: How much Satoshi Nakamoto's Bitcoin Worth? on: February 26, 2019, 02:51:12 AM
Okay, I don't get it why the hard forks are link to Nakamoto total net worth

Well he can claim coins equivalent of his Bitcoin holdings for every single hard fork, so they do affect his net worth. But yeah I could see how some people might find this interesting, but it's a pointless exercise. Whatever the case is, I simply hope Satoshi was/is able to enjoy the fruits of his hard work.
465  Bitcoin / Bitcoin Discussion / Re: 2008 financial crisis with bitcoin? on: February 26, 2019, 01:43:25 AM
I don't think Bitcoin would stop inflation or deflation. We are only a few users on it, but we can already feel the effects of its price drops.

There should actually be very little inflation, if at all, because of Bitcoin's deflationary nature. Governments wouldn't be able to print more money (which is the primary cause of inflation), and that could come with its own sets of problems.

It would be impossible to tell all in all, because an economy which runs on a deflationary currency would have to be run in a completely different way. Not being able to print additional money is one thing, but imagine an economy full of HODLers who don't want to spend because supply is always short and value always grows. Everything has to be worked on from the ground up to make sure things don't descend into chaos.
466  Other / Beginners & Help / Re: Beware from this malware. on: February 25, 2019, 02:24:04 PM
So For me installing antivirus which is updated, you can prevent the PC become infected with Malware and viruses.
It's not a problem to pay for annually license because it gives you more protect than a free one.

For what it's worth, I've been seeing a lot more knowledgeable people recommend running a combination of Windows Defender and Malwarebytes. It's not bulletproof by any means, but that setup along with common sense should be able to protect most users from most threats and they get to avoid shady antiviruses.

It would be good practice to install as few programs as possible nowadays, as you can't really trust any company, even  antiviruses.
467  Bitcoin / Bitcoin Discussion / Re: Who is producing bitcoin now, please? on: February 25, 2019, 01:13:54 PM
China is known as the world's factory so it makes sense for them to produce most of the bitcoin. If they band together they could be the ones manipulating the market with these dumps

While that's true, it's more precise to say that China is huge, and there are places with dirt cheap electricity and ideal mining weather conditions that miners can take advantage of. They're starting to distribute their operations a bit better geographically, but I imagine the current market won't allow any rapid movements.

Manipulation can't be ruled out for Chinese miners for sure, but the same could be said for any group that has sizable influence. It might be best for the community in general if we all stop pointing fingers.
468  Economy / Speculation / Re: RIP Bull Market on: February 25, 2019, 08:59:03 AM
It's funny how threads titles change from day to day, yesterday people were super excited, and now they're holding a wake.

Well that's what happens when you treat every sizable price increase as a bull run lol.

Losing 15 billion with a few minutes is not natural at all, it looks like a coordinated dump by a group of market manipulators. This reduces confidence in the markets

I assume you're talking about market cap. It's just another day in the office for Bitcoin -- it has happened before and it will happen again. There always seem to be some people who blame it on market manipulation too lol.
469  Economy / Speculation / Re: Samsung Galaxy S10 Crypto Offering A bullish sign? on: February 25, 2019, 07:31:33 AM
haha, this would only lead to a rise if you think random people on the street reading this are going to start buying bitcoin. do you really think that?
obviously the random people who aren't yet familiar with bitcoin don't even care about this news. it may create some interest in them as to what this new thing in Samsung's advertisements is but not enough for them to think about actually buying bitcoin yet. specially with all the FUD that is scaring them off these days.

Lol well to be fair, if people found some random feature on their shiny new phone, it's likely they'd want to try it out. I don't think it's projected to be a smash hit for adoption or anything, but putting crypto within reach of a new set of people can't be a bad thing. Samsung is also quite reputable as a brand, and that may help convince some skeptics to give it a chance.

I don't think we're going to be feeling any immediate effect from this, but it's pretty huge and could even make other vendors follow suit. Let's hope it works well and catches on. If implemented well enough, it will also make Bitcoin more portable, and therefore better suited for point of sale transactions.
470  Bitcoin / Bitcoin Discussion / Re: Software will eat Banking on: February 25, 2019, 06:28:11 AM
Lol the author didn't even discuss his headline, which he apparently took from a 2011 piece. For anyone who's curious, here it is:

https://www.wsj.com/articles/SB10001424053111903480904576512250915629460

Spoiler alert: it doesn't mention Bitcoin or crypto anywhere.
471  Bitcoin / Bitcoin Discussion / Re: 1000 Bitcoin: The World's Most Expensive Prius on: February 25, 2019, 05:23:31 AM
The two pizzas story was legendary. I'd be damned if another crypto is able to reach that price level of BTC.

Well if we're talking Prius for 1000 BTC levels, it won't be difficult for alts at all. Priuses are worth like $23,500, which means some random coin only needs to reach $23.50 apiece to be able to buy one for 1000 units. ETH is worth like 6x that level, and it's only been 4 years for it. I know direct comparisons of crypto unit prices is a gross simplification, but I'm just saying that crypto as a whole has gone pretty far.

But yeah, looking at that it's pretty hard to fault HODLers for trying to make money off crypto lol. Dude in the video was even asked if he regretted his purchase, when he only used Bitcoin the way it was meant to be used.
472  Bitcoin / Bitcoin Discussion / Re: 1000 Bitcoin: The World's Most Expensive Prius on: February 25, 2019, 03:37:30 AM
Here is a video of a guy who bought Toyota Prius back in 2013 with 1000 BTC. If you could have waited for a bit, specially in 2017, we could have been a Lambo.

Lol well if you think about it, two pizzas from 2010 could have been 10 Priuses just 3 years later. It's crazy how fast Bitcoin is appreciating.

I wonder how safe it is to come out with your identity and say that all your money is in Bitcoin though, considering all these past incidents of using violence to steal them. It's great that he's doing well, but he better be careful. I also hope people don't get any ideas taking out loans to buy Bitcoin because that's a really great way of either getting a new car or losing your house.
473  Other / Beginners & Help / Re: Beware from this malware. on: February 25, 2019, 02:32:48 AM
My best solution to avoid such type of manipulation is using a Linux operating system which would surely keep you secure from such spammy scripts in the future.

I use Linux too and yes for now it feels safe but that does not mean that someone out there will not consider making malware for Linux too. I think the reason we don't have so many such cases in Linux is because it does not have a big user base as windows so making malware for Linux does not seem profitable and feasible for the hackers.

While this is true, Linux is also more inherently resistant to attacks than Windows thanks to its architecture. Attacking Linux systems mostly entails exploiting vulnerabilities, whereas an attacker only needs to find a way to run a script or two in Windows. Neither is completely secure for sure, but if your activities include visiting shady sites and/or downloading a bunch of media, you're much better of running Linux than Windows.

That being said, if you're using your computer to handle crypto, you shouldn't be doing anything risky with it no matter which OS you use. You may think that you know how to take care of yourself, but that's exactly what countless other victims before you had assumed.
474  Bitcoin / Bitcoin Discussion / Re: 🔴 🔴 It's now possible for everybody to be Satoshi ⭕ ⭕ on: February 25, 2019, 01:57:50 AM
Even if satoshi's forum account suddenly woke up, I'm sure it's going to be met with scathing suspicion.
It won't, because it has been locked by theymos:

When will we see Satoshi's account being used soon?

You won't, since I locked his account long ago. The password hashes leaked in 2015 aren't even his original hashes.

Woah, I didn't know this. Kudos to theymos for potentially saving us from a shitton of drama lol. It's crazy how one person's identity can create this much fuss.
475  Bitcoin / Press / Re: [2019-02-15] Countdown begins for new BTC ETF on: February 24, 2019, 01:49:02 PM
The one thing that still needs to be solved is the global manipulation of the price. How can these Bitcoin ETFs cancel out the global manipulation of the price? <Well, they will have to use local exchanges as their benchmark price indicator and simply ignore external manipulation>

The SEC used that as an excuse to deny all previous submissions <even though Gold and Silver prices are being manipulated globally by syndicates> I think it is OK for them, if they can identify these syndicates with their surveillance software on their platforms or to hide their actions.  Roll Eyes

True, but I think what they're trying to say is that Bitcoin is far more vulnerable to it, considering the decentralized nature and absence of any regulatory body. I mean, I know that the penalties on manipulation and such are mostly a farce anyway, but they do have to put on a show for investors. That's going to be harder to do with Bitcoin.
476  Bitcoin / Bitcoin Discussion / Re: 🔴 🔴 It's now possible for everybody to be Satoshi ⭕ ⭕ on: February 24, 2019, 07:57:57 AM
To those people who claim that they are Satoshi Nakamoto especially Craig Wright just simply log on the 'satoshi' account here then no question ask, you are the legendary founder of Bitcoin.

Even if satoshi's forum account suddenly woke up, I'm sure it's going to be met with scathing suspicion. Forum accounts have been hacked plenty of times before, so that scenario can't be ruled out especially with stakes as massive as in this case.

Ultimately, even if the real Satoshi did pop up somewhere, people will be able to find reasons to doubt his identity. That's just how things are nowadays lol.
477  Economy / Speculation / Re: Crypto Winter is Over - Spring has Come on: February 24, 2019, 06:51:11 AM
There's no proper catalyst to safely conclude that the crypto winter is indeed over. There has to be a clear reason and/or driving force behind it, or it's most safely chalked up to natural market fluctuations. I guess it's good that we're seeing price rises for a change, but I expect the bearish period to continue for quite a while longer. This could be a sign that we've reached the bottom for at least the near future though, I guess.
478  Bitcoin / Bitcoin Discussion / Re: Well-researched bitcoin article by SeekingAlpha pointing out interesting data on: February 24, 2019, 04:30:38 AM
He is quite right for that number of active users and I think it might be even an overstatement.

Let's say 3 million "active" bitcoin users, so that's at least 2 tx a month to qualify as active, it makes 6 million tx a month, 200k a day, that was the median for the last year.

And we have about 25 million addresses with a balance, since my two wallets have about 17 of those, it does fit.

Yeah, I don't actually dispute that, but this part just seemed like the author assumed all Bitcoin users use blockchain.info/com's wallet:

Quote
(This suggests that nearly 50% of all blockchain wallets (accounts) are either “lost” due to lost keys, abandoned/unused, or can be attributed to multiple account holders).

Can anybody verify that those numbers are legit?For me,it looks like the author is throwing a bunch of random numbers just like that.I partially agree that the active user vs. hodler ratio is somewhere around 17:83 or maybe 20:80.This explains why the bitcoin price isn't growing rapidly.

The author cited numbers from Chainanalysis, which seem to be generally trustworthy as far as their statistics go. Either way, due to the nature of Bitcoin, this is probably as close as we can get to accurate .
479  Bitcoin / Bitcoin Discussion / Re: Well-researched bitcoin article by SeekingAlpha pointing out interesting data on: February 21, 2019, 08:34:02 AM
Woah, pretty extensive read. One thing I noticed though, is the author seems to assume that blockchain.com wallets is the only one available for Bitcoin users:

Therefore, if 3 million active Bitcoin users represent about 17% of all Bitcoin owners, then the total number of Bitcoin owners around the world is only around 17.6 million.

(This suggests that nearly 50% of all blockchain wallets (accounts) are either “lost” due to lost keys, abandoned/unused, or can be attributed to multiple account holders).

Other than that, it does cite its (many) sources and should be a good read for people who want to know more about Bitcoin as an investment.
480  Bitcoin / Bitcoin Discussion / Re: How do you think of this bitcoin halving chart? on: February 21, 2019, 07:39:46 AM
From the current tendency, the color starts to go out of the yellow and ready to go to the light green, does this mean the price of bitcoin will go down again?

Possibly, but it would probably be best to ignore it. We don't have enough of a sample size to safely conclude anything.

As far as halving goes, it increases scarcity, but that doesn't mean anything if demand doesn't keep up. The halving won't be a bull run catalyst by itself, and has never been one.
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