It's down .2%?  ?? Fuck, time to look at Trabants.  Humm, a slightly romanticized post era version... . (As the owner too) :-) Maybe we should change the poll to "how many Trabis are you gonna buy". |
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Isn't this all going to sh* when the fork is over ? The only reason people are buying is to be on the right side of the fork. 2X hasn't a hope in hell by the way. Not one investor is remotely interested in blocksize, capacity or any other monetary vehicular niceties any more.
The only thing they're worried about is that the name of their investment doesn't have anything other than a full stop after the word "Bitcoin".
Also price. Which, yeah. I think bitcoin is becoming a store of value only, no one uses it for payment anymore. The only time we sell is when we cash out. Those of us that have bitcoin in the future are the new nobility, the rest will use other cryptocurrencies. |
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I wrote to Coinomi and asked how they will handle the upcoming fork.
This is the answer.
"Hi Ulf,
you are very welcome. During a fork, a separate chain is created but the original chain (Bitcoin) will not disappear. We will support Bitcoin and Bitcoin 2X after the fork.
We will also have replay protection for Bitcoin 2X built into our wallet. Please let us know if you have any other questions.
Kind Regards,
Coinomi Support"
If this is true, and why should they lie, than having your coins in the Coinomi wallet seems like a good choice. I will definitely consider it.
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My take on these different fork coins is as follows: Although 2 MB blocks is not bad, BCH is dysfunctional and since it does not work properly, it's useless.
BTG really has no future, the idea of going back to using GPU:s for mining is a nice idea and full of bitcoin nostalgia. But there is already a bunch of coins that you can mine using your GPU, and BTG has no upside in relation to those coins.
SW2X on the other hand has both big blocks and Seg Wit, and that is in my opinion better than BTC:s SW1X. However, their attempt to kidnap the bitcoin name with a hardfork with no replay protection and their poor dev team makes the majority of users dislike them. That and the fact that people because of the high BTC price likes status quo will probably make them fail.
Spot on with every point made here, couldn’t have put it any better myself. except the 2MB typo for BCH, 8, but otherwise spot on Eh, you know what I mean. |
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My take on these different fork coins is as follows: Although 2 MB blocks is not bad, BCH is dysfunctional and since it does not work properly, it's useless.
BTG really has no future, the idea of going back to using GPU:s for mining is a nice idea and full of bitcoin nostalgia. But there is already a bunch of coins that you can mine using your GPU, and BTG has no upside in relation to those coins.
SW2X on the other hand has both big blocks and Seg Wit, and that is in my opinion better than BTC:s SW1X. However, their attempt to kidnap the bitcoin name with a hardfork with no replay protection and their poor dev team makes the majority of users dislike them. That and the fact that people because of the high BTC price likes status quo will probably make them fail.
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I like your VHS vs. Betamax example, but in our case I believe BTC (the original coin) is better than BCH for many reasons, so the analogy would be that Betamax had ended up being the dominant one, due to its quality as well as its widespread usage.
But since it didn't, I cant use that as an analogy. I can only use the user support as an analogy. You're right, of course, I just wanted to point out the difference. In fact, being the better coin, there's even more incentive for BTC to win over BCH. Agreed. |
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One of the key securities of Bitcoin is that it will not be successfully forked. If such an event were to occur it would mean it cannot be trusted and therefore die and become mutable. On principle alone we must go forward only with consensus to changes from the majority of users not hash power manipulation and FUD.
This will come down to what we believe in.
Lets talk about Lightning Network. Is it a patented solution that has the ability to shut down miners?
I don't know, but if it does make mining unprofitable it might actually crash bitcoin, we need the miners. |
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I just finished reading the open letter, and, I must admit, it scared the hell out of me. I have already sold all my Bitcoin Cash. I really wish things will not turn out the way the letter describes! Wondering if we all should have kept our BCH...  Jimbo and jbreher may well turn out to be the smartest guys among us. Don't worry, it's not the miners that decide, it's the users. VHS was big because everybody used it, not because it was the best system, Betamax was a lot better, but it died all the same. EDIT: It's video tape systems, for all you young ones. I like your VHS vs. Betamax example, but in our case I believe BTC (the original coin) is better than BCH for many reasons, so the analogy would be that Betamax had ended up being the dominant one, due to its quality as well as its widespread usage. But since it didn't, I cant use that as an analogy. I can only use the user support as an analogy. |
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I just finished reading the open letter, and, I must admit, it scared the hell out of me. I have already sold all my Bitcoin Cash. I really wish things will not turn out the way the letter describes! Wondering if we all should have kept our BCH... Jimbo and jbreher may well turn out to be the smartest guys among us. Don't worry, it's not the miners that decide, it's the users. VHS was big because everybody used it, not because it was the best system, Betamax was a lot better, but it died all the same. EDIT: It's video tape systems, for all you young ones. |
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So, did you guys already dumped the "gold" coin? Is there any exchange that accept it? Since the BCH I like these airdrops, lol
I just wrote, literally two posts up, that Coinomi will exchange BTG. EDIT: four posts, it's moving too fast for me. |
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So we can expect a minimum of 12K by May?
Not bad
*insert Obama meme*
Unless everything goes pear shaped in the upcoming SW2X fork. I'm still pondering what to do with my coins during the fork. Me too. But first see where it goes now, eventually convert a large part in fiat just before or after Nov. 15 fork? And meanwhile, what happened to the "Gold" boys and their fork? Straight evaporated? The BTG guys have just implemented replay protection, and Coinomi have announced that they will support BTG and conversion of BTG to BTC on their platform. As far as I know it's going ahead more or less as planned. https://coinomi.freshdesk.com/support/solutions/articles/29000016909-i-didn-t-have-btc-in-coinomi-at-the-time-of-the-snapshot-how-do-i-claim-btg- |
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So we can expect a minimum of 12K by May?
Not bad
*insert Obama meme*
Unless everything goes pear shaped in the upcoming SW2X fork. I'm still pondering what to do with my coins during the fork. |
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Sometimes it helps to look at a log scale chart. Here is Bitstamp daily bitcoin log scale with a reasonable pitchfork drawn:  The pitchfork suggests we may reach roughly $8000 before a sharp correction down to about $5000 before new all time highs greater than $10,000 by year end. The sell off might occur during the fork drama and rather than the end of the world present just another buying opportunity. Any chance we can see that chart extended to 2018? No problem here you go:  Pretty much fits my earlier prediction about a doubling every four months. Good to know I'm not alone. |
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Thank you very much, very kind of you.
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Sometimes it helps to look at a log scale chart. Here is Bitstamp daily bitcoin log scale with a reasonable pitchfork drawn: The pitchfork suggests we may reach roughly $8000 before a sharp correction down to about $5000 before new all time highs greater than $10,000 by year end. The sell off might occur during the fork drama and rather than the end of the world present just another buying opportunity. Any chance we can see that chart extended to 2018? |
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Actually most of people on this planet are broke and just worry about daily sustenance. So even if they knew something about bitcoin, they probably would buy very little, if at all, and had get out as soon as they need the money for something else.
So even if Mircea Popescu type of elitism is repugnant, he is right in that Bitcoin does NOT give a fook whether it sees widespread use as payment or the masses adopt it. It's going to go up if enough elites see it as a hedge against central bank experimentalism or as a new method of exerting controls. As I stated before, I got in in late 2012 mostly as a hyperdeflationary experiment, i.e. I want to see whether we can trigger the first recorded case of hyperdeflation in human history.
Since bitcoin is highly deflationary by design, it is irrational to spend it when you have fiat alternatives readily available, e.g. Visa/Master/Paypal/Alipay/Debit-card/Fiat-Cash. If any kind of S curve adoption occurs, then BTC would be hoarded to oblivion. Gresham's law would tell you that people always want to spend the "bad money", e.g. fiat, before spending "good money" like gold or BTC. So eventually just as in hyperinflation, people try to spend the toilet paper confetti before it becomes worthless, people would hoard BTC before it becomes even more valuable. The end game would be the same, they lose their function as a medium of exchange, because one has zero function as storage of value, and the other because it is just too valuable to be spent.
If one just look at BTC in fiat term, going from sub $1 to $7000+ in 7+ years is pretty hyperdeflationary. It's even worse if one looks at it in "purchasing power parity" terms, i.e. Laszlo's pizza, 2 pizza for USD$70 million, an increase of at least 7,000,000 times. Naturally the implication would be that if BTC undergoes hyperdeflation, any charting/wave-theory/fibonacci/TA would be meaningless. That's like applying TA to Weimar stock market or the IBVC (Venezuela stock index), which is up like 20x in 2017 alone and 50x in 1 year.
^^ This. |
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guys?
where the actual fuck is Torque?
Why don't you send him a PM and ask? And then tell the rest of us, I wonder too. EDIT: Oh, he's back now, good. I |
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So I was thinking this morning. And I realized one way to boost the price of bitcoin is to increase overall demand in the general populace. Then it hit me:
How about offering a service where when a loved one dies you can buy a bitcoin for the ferryman across the river Styx? The bitcoin is purchased, then on the day of the funeral the key for the bitcoin is burned, thus sending it to the afterlife.
Hey, it's like being buried with your grave goods and it increases the value of remaining bitcoins.
What if Kharon doesn't accept bitcoin? |
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The only question is: will it peak at $25k, $35k or above $50k  You mean after the resolution of the next forking shenanigans, right? Right now we are getting preforking pumps, and then we will likely get post forking pumps... gosh? I am thinking more on the lower end of your three scenarios.. but maybe I am just not bullish enough.. ? I need to up my game. I used to be one of the most bullish and I can't get my head around anything over 2k. My brain doesn't compute. 25k wtf?? I'm not sure if I am drinking too much coffee or whether I'll eventually find out that near miss I had 2 years ago knocking myself out wakeboarding wasn't a near miss at all and I've been in a coma. I'm sure I'll wake from it soon and see bitcoin at $300 again where I left it. Or is this real?? Or am I dead? I don't know anymore. You are looking at a commodity style market about to hit bottom in terms of available coins vs demand. That is what caused the big 2013 spike and what is about to cause the big 2017/2018 spike. Like the Hunt brothers cornering the silver market. Besides, think BIG or go home  The 2013 spikes were caused by a Mt Gox bot, it had nothing to do with supply and demand. |
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