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What happens to Bitcoin if the Sun goes Supernovae?
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This is a Rule of Thirds dump. The bottom will be 560 in a flash crash. Then back to 600. Unless this is an insider trade on very bad news. Then it may drop to 550 and bounce down and up around 530. I doubt it.
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I'm in my fifties. I have no retirement. I am not an heir. I have gone all in with other industries and lost everything. I recovered, but I have never seen anything like Bitcoin. I fell in love immediately in March 2011. All of my savings have gone into Bitcoin since 2011 and I am "letting it ride". I'm selling my house and buying more bitcoins. You would be crazy not to. This isn't the 1929 stock market. This isn't MySpace. Bitcoin is a fundamentally new technology that was twenty years in development and has network effect. You can have your altcoins, but you trade them with Bitcoins, Baby!
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I've only been away 4 months and so much has happened. I can't wait to get back. I will not be starting an exchange. I'm really not even planning a big business. My goals are to educate people about Bitcoin and facilitate getting businesses to accept it. I will work on a donation basis, but will likely get an SEC license to cover myself. I have ideas in how to expand into a business, but at this point I'll play it safe.
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You would need to find people in the Philippines to buy your bitcoins with php also. I'm hoping that bitcoin microloans will replace the 5/6 system for poor people that have OFW friends and family. With an SEC license, you could work with money exchanges to set up online accounts for such loans and cover whole cities. Mobile apps would be safer than ATMs or brick and mortar businesses, but keep the amounts small so they don't need to handle a lot of money and require extra security. Really something like localbitcoins or mycelium would work great. It would just take someone to teach people how.
you addressing me? you wouldn't need people in the philippines to buy your bitcoins.. you'd need for philippino people to buy bitcoins from the US or wherever they are, and then send it to the philippines. then you have an exchanger to give the recipient fiat. the exchanger, if they want, can turn the bitcoins into currency. Right. That's what I said. OFWs send bitcoins. But exchangers don't want bitcoins. They don't have anyone to sell them to. You would need to set up an exchange for them and find Filipinos that want to invest in bitcoins. not necessarily though. you don't necessarily need to liquidify your bitcoins in the philippines. why not cash out in another country? i wonder if it's possible to set up a bitpay account to become an exchanger where you liquidify your bitcoins for USD. btw, aren't remittance fees to the philippines ridiculously expensive.. something like 12%? It depends on how much and how you are sending remittance. I pay close to 10%. I tried to get coinbase to work with PNB. They say they are considering it, but that was almost two years ago. If you try to do all the money clearing yourself, I think you will have troubles with banks. There are exchanges starting in PH. Things are moving fast there! are you sending it to family? why can't they accept bitcoin if there are exchanges there? it's kind of a hassle, i'm assuming. I've only been helping friends. It's not much, but with all the storm devastation in the last few years I would rather help people directly so they can help others in turn. I will be back permanently soon when I am done with the family business here in the states. |
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The dotcom bubble is tons and tons of shitty altcoins with no original innovation that prey on the foolishness of the general masses (since only the elite can comprehend the genius behind BTC).
All those altcoins trade against Big Daddy Bitcoin. |
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You would need to find people in the Philippines to buy your bitcoins with php also. I'm hoping that bitcoin microloans will replace the 5/6 system for poor people that have OFW friends and family. With an SEC license, you could work with money exchanges to set up online accounts for such loans and cover whole cities. Mobile apps would be safer than ATMs or brick and mortar businesses, but keep the amounts small so they don't need to handle a lot of money and require extra security. Really something like localbitcoins or mycelium would work great. It would just take someone to teach people how.
you addressing me? you wouldn't need people in the philippines to buy your bitcoins.. you'd need for philippino people to buy bitcoins from the US or wherever they are, and then send it to the philippines. then you have an exchanger to give the recipient fiat. the exchanger, if they want, can turn the bitcoins into currency. Right. That's what I said. OFWs send bitcoins. But exchangers don't want bitcoins. They don't have anyone to sell them to. You would need to set up an exchange for them and find Filipinos that want to invest in bitcoins. not necessarily though. you don't necessarily need to liquidify your bitcoins in the philippines. why not cash out in another country? i wonder if it's possible to set up a bitpay account to become an exchanger where you liquidify your bitcoins for USD. btw, aren't remittance fees to the philippines ridiculously expensive.. something like 12%? It depends on how much and how you are sending remittance. I pay close to 10%. I tried to get coinbase to work with PNB. They say they are considering it, but that was almost two years ago. If you try to do all the money clearing yourself, I think you will have troubles with banks. There are exchanges starting in PH. Things are moving fast there! |
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You would need to find people in the Philippines to buy your bitcoins with php also. I'm hoping that bitcoin microloans will replace the 5/6 system for poor people that have OFW friends and family. With an SEC license, you could work with money exchanges to set up online accounts for such loans and cover whole cities. Mobile apps would be safer than ATMs or brick and mortar businesses, but keep the amounts small so they don't need to handle a lot of money and require extra security. Really something like localbitcoins or mycelium would work great. It would just take someone to teach people how.
you addressing me? you wouldn't need people in the philippines to buy your bitcoins.. you'd need for philippino people to buy bitcoins from the US or wherever they are, and then send it to the philippines. then you have an exchanger to give the recipient fiat. the exchanger, if they want, can turn the bitcoins into currency. Right. That's what I said. OFWs send bitcoins. But exchangers don't want bitcoins. They don't have anyone to sell them to. You would need to set up an exchange for them and find Filipinos that want to invest in bitcoins. |
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You would need to find people in the Philippines to buy your bitcoins with php also. I'm hoping that bitcoin microloans will replace the 5/6 system for poor people that have OFW friends and family. With an SEC license, you could work with money exchanges to set up online accounts for such loans and cover whole cities. Mobile apps would be safer than ATMs or brick and mortar businesses, but keep the amounts small so they don't need to handle a lot of money and require extra security. Really something like localbitcoins or mycelium would work great. It would just take someone to teach people how.
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I'm back in the states taking care of family business but will be returning soon.
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Even if your prediction comes exactly true you still get absolutely no credit for being right. If you provide no source and give no reason whatsoever for your prediction, then it's a random guess. If you randomly guess correctly then it is blind luck and you didn't actually predict anything.
That's probably why it's a newbie account. He may have a bunch of predictions out there and one of them is bound to be correct. |
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Wouldn't we get better advice off a hero member rather than a newbie?
I don't think it's a newbie. I've come to the exact same conclusion. There is always a squeeze before a jump. I've been caught by it twice. Never again. How low do you think a squeeze could push the price down to? We may be at the bottom, but if a catastrophic event happens (which Murphy's Law says it will) then I'm guessing 580 and then the Rule of Thirds spike down to 560 if it is a long downturn. Something bad is going to happen because I don't see anything really good happening until Fall. That would really be a very small drop when compared to the price swings that bitcoin has seen in the past (in terms of percentages) as you are predicting a max 10% drop from the current ~$600 levels that we are at now. The discussion is not about mere accounting compliance, but now with business regulation. We're about to enter a whole new level of trade. We've already seen a 40% drop from 900+. The next time we see a large percentage drop it will be from an order of magnitude higher from this level. |
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Wouldn't we get better advice off a hero member rather than a newbie?
I don't think it's a newbie. I've come to the exact same conclusion. There is always a squeeze before a jump. I've been caught by it twice. Never again. How low do you think a squeeze could push the price down to? We may be at the bottom, but if a catastrophic event happens (which Murphy's Law says it will) then I'm guessing 580 and then the Rule of Thirds spike down to 560 if it is a long downturn. Something bad is going to happen because I don't see anything really good happening until Fall. |
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Most people look at a log scale of price over time. Does anyone have log scale charts of volume over price or time over volume, etc.?
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All new coins these days are POS. It really is the way of the future. All the best to btc though  There are a thousand altcoins. Some of them are PoS. Some are hybrid. Some are PoW. They all trade against Bitcoin. |
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Wouldn't we get better advice off a hero member rather than a newbie?
I don't think it's a newbie. I've come to the exact same conclusion. There is always a squeeze before a jump. I've been caught by it twice. Never again. |
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2 months for a coder at lets say 700$/month
Where could you find coders to work this cheap? I cannot even in the Philippines! |
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Up to a point. Nothing at Stake is a two stage thing. In the first stage, selfish forgers forge on every chain they see, to avoid losing fees from picking the wrong chain. In the second stage, someone mounts an attack; one which would have failed if forgers only forged on one chain, but succeeds because of the selfish multi-chain forging. Currently we aren't yet at stage one. Stage two, an actual attack, is therefore currently not possible. With Bitcoin 51% attacks, there are also two stages. The first stage is to acquire 51% of the hashing power. The second stage is to use that power to attack. The difference is that Bitcoin has actually reached the first stage: there have been entities that could have attacked if they wanted to. You're right in that the reason GHash.io didn't attack is that doing so would have destroyed their own business, and that's also the reason Nxt forgers don't forge on multiple chains. How would an attack destroy an NXT business if they are anonymous? How would you even know they are attacking? Any attack that reduces the value of NXT reduces the value of the attacker's NXT holdings. If you own 51% of NXT, you are primarily attacking yourself. Even if you only own 1%, you are still devaluing your own holdings.
Aside from that, I don't really understand your question. What does anonymity have to do with it? Is an attack that no-one is aware of even an attack? Did something get garbled when you applied GHash.io's mining business to Nxt forging? A 51% attack is against a specific pseudonymous target. The only sane reason to waste a lot of money attacking a target is to reverse its transactions. That's one reason why nobody in Bitcoin bothers to do a 51% attack, because it costs money even though there are plenty of potential targets that get mentioned frequently, i.e. Satoshi Nakamoto, Mark karpeles, the FBI's SR stash, etc. They are known addresses in the blockchain. If that happened, it would not kill Bitcoin, but would make people realize how powerful mining pools are and that they should be avoided. Once they had the power to do that, they could target anyone, so it must not happen again. This is similar to nuclear war. It happened once and hasn't happened since. In NXT, there is little cost if everyone wanted to attack a specific person, it would be quite easy. Mob rules. There would be no mining pools to blame. Nobody would know who is innocent and who is guilty because it only takes 51%. This is why anonymity is crucial. Nobody can be targeted if they can't be traced. The same thing goes for attackers, they are also anonymous. If an attack happens, good luck, they are behind 7 proxies. If a target was found out, and a lynch mob of at least 51% was convinced to attack the target, how would anyone know who to blame? If it was a business that managed to aggregate 51%, how would you even know it was an attack and not a normal orphaning since there are no IPs to compare blocks like GHash.io. There is no electricity cost to bring a bunch of miners in, just get a bunch of coin and attack your enemy. Then sell the coin anonymously. Your enemy is defeated and it cost very little compared to the same attack in Bitcoin. |
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Hyperbitcoinization - the idea that the end game is not the flattening out like the top of an S, but rather a final explotion that finishes off all fiat at once, due to a speculative attack on the part of investors. http://nakamotoinstitute.org/mempool/speculative-attack/Nice writing. Good site. They mischaracterized Thier's Law. And Greshams Law is the generally accept principle "bad money drives out good". There are exceptions however in extreme cases Gresham's law sees to situations where bad money "must" be accepted, not in voluntary situations. Otherwise, the recipient would just refuse bad money. Bad money drives out bad means people hoard good money and spend bad money Now I am confused. |
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