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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread
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on: August 07, 2017, 06:49:20 AM
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I've held XCP on and off since the beginning although have rarely used it.
Burned some BTC and then sold for a good profit and have been in and out of it ever since and it has been good to me.
It's fair to say that it's underperformed most other alts with it only sitting at currently about 3 x the original burn price.
I just wonder what the future holds for it once BTC has Rootstock/side chains implemented. Will it still be relevant?
I guess I am looking for reasons to buy back in again.
I think there's almost no user and no dev now. I am surprised that it can keep its current price. |
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: July 28, 2017, 08:06:04 AM
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Bitcoin, like any so-called crypto currency, is the old like world scheme of Ponzi. Only in the new high-tech pack. Want an example? You are welcome: 1. Assume that all people in the world convert half of their savings from ordinary national currencies to crypto-currencies. What does it mean? This means that the producers of crypto-currency, received half of the world's volume of national currencies - half of the total world currency bascet. 2. After a while, the fictitious value of investments in crypto-currencies increased 4-fold (as we see in the case of Bitcoin and the mass of other crypto-currencies). What does it mean? This means that now, every person in the world, reasonably expects to receive in exchange for his crypto currency (as a return on his genius) in 4 times more volume of the national currency. 3. Let's assume that all these people, at the same time, decide to fixed their investment profit-to exchange their crypto-currencies that went up four times, (if they take profit in the form ordinary national currencies). All of them expect to receive now 4 times more national currency than they used to, they spent on buying crypto-currencies. QUESTION: Where does this whole currency come from? From producers or producers of crypto-currency? But they simply do not have such volumes of ordinary currency, and never were. Because, previously selling the Crypto currency, in exchange for the usual currency, the organizers and the receivers only received the initial value of the crypto currency in the usual currency. Which was at the time of the transaction only - 1/4 of the amount of currency, which is now payable to all owners of the crypto currency. CONCLUSION: Bitcoin, like any so-called crypto currency, is the old world scheme of Ponzi. Where each participant can receive a gain of the investments only one way - due to those new participants who have entered this pyramid later.   If half the world is using cryptocurrency, is there any possibility that people still need to convert their cryptocurrency to fiat before they can use it? |
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: July 21, 2017, 10:20:34 AM
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The bip91 has been locked in. However, miners still need to come to a concensus on the HF part. After SW is activated, there's nothing to prevent the miners switching back to core version with signal 1. Only around 80% signed NYA and nobody knows whether anyone will quit.
Keep monitoring signal 4 may help to check who switched back to core version, but after SW is activated false signal 4 needs only a trivial patch on core version.
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread
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on: June 19, 2016, 04:12:50 PM
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The idea of running Ethereum smart contracts on the bitcoin blockchain sounds problematic now. I know that smart contracts can be killed. But Ethereum needs to be forked to bailout smart contract holders. Smart contracts seem to be inherently insecure. Is it possible to fork Counterparty in this way on the bitcoin blockchain?
well written and tested code is not inherently insecure.  the only problem here is people releasing untested code (apparently even aware of some issues) and not being patient. No code can be proved to be bug free no matter how well tested. |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning
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on: March 14, 2016, 11:34:14 AM
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Panic buy now. Last time to buy ETH below 13$. Countdown to lift off. 2 bil market cap in next month. 0.2 BTC per ETH it's the real value.
ETH was not actually ever designed to be a store of value, they even say so in the whitepaper. This is an obvious pump by some mega whales, and a lot of people are going to get burned. It is such a classic bubble. What is value of cryptocoins? IMO we're going to new definition. This and next years value of cryptocurrency will be amount of services hosted on it. Internet of things is the near future. Microsoft investing a lot of $ in ethereum and they knowing what they doing. ETH isnt't another litecoin, dogecon... It's new technology like web 2.0. In terms of the technology I agree. In terms of the price I don't believe it can stay at these levels sustainably. It is a classic bubble, it will pop, and I believe it will stabilize again around 0.01 BTC. Of course I could be wrong. There are already threads on the ETH forums where people are saying it is now too expensive to develop the dapps they were planning on the ETH network due to the current price. Yes, you could be right. But if you correctly predicted BTC price will be stabilized at $2xx in 2013, you would miss a big opportunity to double or triple your wealth. That said, you will have less chance to lose half of your wealth. So, who knows. The only real question is if the bubble will go higher (like BTC in 2013) before it pops or not. Now that it's over 1 billion market cap in my opinion it is much harder to go from 1 Billion to 2 Billion than from the previous value increases we have seen over the last few weeks. Yes, that's true. However considering the fund to double the ETH price now can only increase the price of BTC by 17% ( a very rough estimation since no one knows the ratio of tradable cap. The only thing we know is market cap). It's not a surprise that we see BTC increase 17% in one day. |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning
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on: March 14, 2016, 11:23:39 AM
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Panic buy now. Last time to buy ETH below 13$. Countdown to lift off. 2 bil market cap in next month. 0.2 BTC per ETH it's the real value.
ETH was not actually ever designed to be a store of value, they even say so in the whitepaper. This is an obvious pump by some mega whales, and a lot of people are going to get burned. It is such a classic bubble. What is value of cryptocoins? IMO we're going to new definition. This and next years value of cryptocurrency will be amount of services hosted on it. Internet of things is the near future. Microsoft investing a lot of $ in ethereum and they knowing what they doing. ETH isnt't another litecoin, dogecon... It's new technology like web 2.0. In terms of the technology I agree. In terms of the price I don't believe it can stay at these levels sustainably. It is a classic bubble, it will pop, and I believe it will stabilize again around 0.01 BTC. Of course I could be wrong. There are already threads on the ETH forums where people are saying it is now too expensive to develop the dapps they were planning on the ETH network due to the current price. Yes, you could be right. But if you correctly predicted BTC price will be stabilized at $2xx in 2013, you would miss a big opportunity to double or triple your wealth. That said, you will have less chance to lose half of your wealth. So, who knows. |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning
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on: March 14, 2016, 11:16:00 AM
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Bitcoin has reached these levels because mtgox inflated the market, the big miners, in the market and extraction feet, because they would lose too much money leave btc
eth who supports it? only the market?
To me, I don't think any coin had a daily volume more than half of BTC volume before. Therefore, either Poloniex fakes the volume, or something does happen on ETH. |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning
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on: March 14, 2016, 11:08:39 AM
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Panic buy now. Last time to buy ETH below 13$. Countdown to lift off. 2 bil market cap in next month. 0.2 BTC per ETH it's the real value.
ETH was not actually ever designed to be a store of value, they even say so in the whitepaper. This is an obvious pump by some mega whales, and a lot of people are going to get burned. It is such a classic bubble. Unless that whale cooperates with poloniex, otherwise to create a such huge volumn is not an easy task. |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread
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on: March 01, 2016, 05:30:42 AM
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3 days and no posts. This is not confidence inspiring for new investors.
You'll find that our slack chat is more active than this thread. Several more days of nothing. I was on slack and it was much much worse then I thought. Current discussion is about abandoning and making a counterparty 2. There needs to be regular updates and they need to be posted here. Right now I feel like I wasted several thousand dollars. Price dropped with a reason. It's better always buy something with rising price, rather than the opposite, unless you believe everyone else is wrong. |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread
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on: March 01, 2016, 05:26:35 AM
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3 days and no posts. This is not confidence inspiring for new investors.
You'll find that our slack chat is more active than this thread. Several more days of nothing. I was on slack and it was much much worse then I thought. Current discussion is about abandoning and making a counterparty 2. There needs to be regular updates and they need to be posted here. Right now I feel like I wasted several thousand dollars. The state of this project is not good. The effective strategy seems to be "wait and see what happens no matter how long it takes". Meanwhile competing projects press forward and gain mindshare even if their implementations are not perfect. Counterparty needs to implement Ethereum smart contracts in testnet ASAP or risk "too little too late" syndrome. I think it is on the testnet already for almost 1 year. It's just no one uses testnet. |
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 25, 2016, 05:54:28 AM
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Aaaand... the debate has risen to the tenor of "accusations of cockgobbling"  Way to go Samson Mow, CTO of BTCC Bobby Lee must be proud. LN promises to take away >90% of the fees generated per block, of course Samson Mow hates it... i agree with the other guy yes, we need R&D on LN and sidechains just don't force me to buy it. pre-order I think you make a mistake of Mow's position. He's supporting LN. you sure? well in that case i'll just say that, i'll take Gavin's thing over Mow's thing... Look at the debating. Mow is saying the other guy oppose LN but cannot point out its drawbacks. Then the other guy say although it's good, does not like to be forced, then Mow said those dirty words. Hope this clarifies his position on LN. |
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 25, 2016, 04:58:59 AM
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Aaaand... the debate has risen to the tenor of "accusations of cockgobbling" Way to go Samson Mow, CTO of BTCC Bobby Lee must be proud. LN promises to take away >90% of the fees generated per block, of course Samson Mow hates it... i agree with the other guy yes, we need R&D on LN and sidechains just don't force me to buy it. pre-order I think you make a mistake of Mow's position. He's supporting LN. |
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 25, 2016, 04:50:15 AM
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I've said that all along. It's the people who could point guns at the miners any time they want. That's what censorship is ... and then what, they shoot the blockchain into pieces?! omg bitcoin doomed Shut them down if they are stupid, but they aren't stupid. The Chinese have a higher average IQ than Europeans and Americans. They would do what the Chinese do: they would manipulate the currency. 51% attacks, double spends or merely threaten to do so. This is the part where we change the PoW… just like some are threatening to do if 75% of the blocks start voting for 2MB. The important difference… it would be unanimous in the case of chinese govt takeover of mines, far from it with a simple upgrade to 2MB max blocks with miners using soft limits along their supply curve. 15000, and a big delete buffer  How long would that take? How soon could we agree on a different hashing algorithm? How much hashpower would secure the new fork? Face it, the ChiComs could damage Bitcoin beyond repair, or at least destroy our firstmover advantage and crash the price to pennies. It'd be a nightmare for sure, but not insurmountable I think. As gmax likes to say, the candidate code is ready. The chances of you seeing it are probably much higher than a hostile takeover by the PRC. The probability of a hostile takeover by the PRC goes up as $/BTC goes up. So if we continue on our upward trajectory, the only question is what's gonna kill us first, the commies or fullblocalypse? I feel in your imagination, China is a city and all miners are inside one room, and the government is a man with a gun who can shoot anyone he want at anytime. |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning
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on: February 15, 2016, 11:39:36 AM
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Etherium seems really interesting and useful, but regards the price of ETH, my main concern is as following. ETH, as we know, is the fuel of smart contracts. Suppose the cost of creating a contract is 0.01 ETH, then if ETH becomes 100 USD each, the cost will be $1, appreantly too much. We can certainly reduce the cost to 0.0001 or lower, but then it reduce the demand and effectively creates an inflation.
Meanwhile, Etherium is an open source project; after changing to PoS, nothing stops others to create a clone with much lower fuel price. All users can easily switch as long as the VM is compatible. Therefore, we can expect the fuel will always be low, and so is the ETH price in long term, for etherium to be successful.
Any thoughts? I wish someone could prove I am wrong and then I could spend more on ETH investing.
Hi, from what I have gathered from the official Ethereum blog posts is that once Ethereum have been scaled to capeable of handling 100000 transactions per second as opposed to now 10-20 transactions per second the "gas price" or simply in other words the ETH you pay for block space will go down of equal proportion. That is what my logic tells it should be since then there will be so much more block space so transactions should be cheaper, but I am not 100% sure this is how the Ethereum protocol will work it could be wrong assumption or can someone confirm this? Shards implementation will be very interesting if Vitaliks theory works. This is a good news, but 100K transactions per second seems really unrealistic for a distributed system. Really need to check their papers carefully for me to believe this number. It's here: (look at the paragraph named scalability) https://blog.ethereum.org/2015/10/18/vitaliks-research-and-ecosystem-update/Whether or not they deliver remains to be seen. Thanks a lot. Will read it carefully. |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning
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on: February 15, 2016, 11:03:50 AM
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Etherium seems really interesting and useful, but regards the price of ETH, my main concern is as following. ETH, as we know, is the fuel of smart contracts. Suppose the cost of creating a contract is 0.01 ETH, then if ETH becomes 100 USD each, the cost will be $1, appreantly too much. We can certainly reduce the cost to 0.0001 or lower, but then it reduce the demand and effectively creates an inflation.
Meanwhile, Etherium is an open source project; after changing to PoS, nothing stops others to create a clone with much lower fuel price. All users can easily switch as long as the VM is compatible. Therefore, we can expect the fuel will always be low, and so is the ETH price in long term, for etherium to be successful.
Any thoughts? I wish someone could prove I am wrong and then I could spend more on ETH investing.
Alright sure, but 72 million of ETH is not really a massive number. I understand your concern if there would be 10 billion in the market. But as it divisible as Bitcoins, it would be the same scenario. If tomorrow Bitcoin becomes massively adopted then 100 bits would be a lot when now it's nothing, same concept here. BTC is different. 1, the main usage of BTC is payment and store of value, not fuel of smart contract. only transferring costs money. While ETH is need to do everything related in smart contracts, much more than transferring. 2, more importantly, as a PoW coin, there's no possibility to clone a BTC due to its huge hashing rate. While Etherium can be easily copied after it changed to PoS. You could be right... or you could be the next Kodak... I don't think ETH is competing with BTC. I think they are different things. BTC is coin, Etherium is like iOS, an operating system. ETH is just like the charge on usage on all iOS programmer and users. Now my question is, how to prevent someone creates an iOS clone? it's even not like Android, which cannot run iOS apps. It is a real clone and can run all Apps with much lower fees. There's no law can protect Etherium in this case. That's my biggest concern. I think, that Bitcoin has currently more clones, than Ethereum. The point is that you cannot use any BTC clone as BTC, but you can run any script or contract on an Etherium clone. But that still doesn't make it Ethereum, just like LTC or NMC isn't Bitcoin. It's all about the size of the userbase and development. Clones will always be a step behind on ETH development. Unless you close the source, otherwise others just use "git pull" to catch up with all the updates you make. The only thing left to protect Etherium is just user base, just like any open source project. I don't think this protection alone can protect ETH to rise to $100. |
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