I'm thinking this whole Bitmain IPO document is a complete fabrication. Why? Because if they really did make that much net revenue in half a year's time, then they'd never have a need to take the company public. Period. |
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The free creation of any shitcoin is the power of cryptocurrencies. No one holds a monopoly.
Embrace it (not shitcoins, but this concept of freedom).
I don't dispute that. I dispute that a crypto is seen as having any monetary or value storage just because someone clicks a button and creates a blockchain. |
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Funny, I remember looking at CMC in January and there were ~1770 total cryptos listed including Bitcoin. Two weeks ago, there were ~1950. Today, there are 2003. Fucking hilarious that shitcoins are being created daily, weekly, monthly, by the hundreds at light speed. At this rate there will be >10K shitcoins listed on CMC in 10 years. So you can completely ignore the "BTC Dominance" metric, it's totally bogus and worthless when CMC just continues to update and list every fucking shitcoin ever made.  |
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November the 5th is when they start trading. Get ready for the new bull run.  I think this could be a game changer. But I pray that they don't down the road change the rules and corrupt this. In theory, by holding clients' bitcoin accounts for them directly, they can fractional reserve the bitcoin they hold, have re-hypothecation, etc. Even phantom shares of bitcoin. So hoping it doesn't go that way. |
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OT: The lies we are being told about the U.S. economy are unbelievable Step 1: Read article https://www.cnbc.com/2018/09/24/the-us-economy-is-doing-so-well-it-could-be-the-feds-next-problem.htmlStep 2: Analyze quote "The economy is doing really well, and I'm worried that could we get to the point … where the concern is going to be more about the economy overheating than recession," Doll told CNBC's "Trading Nation" on Friday. "I'm not suggesting that's where we are, but I think we need to ask the question."
U.S. economic conditions have steadily improved this year as the labor market has tightened, wage growth has picked up speed and tax cuts have boosted profits. Growth in the GDP has reflected those improvements.
"Second-quarter nominal GDP was well into the 5s. Could it be over 6 percent nominal in the third quarter when it gets reported?" Doll asked. "All of that, we'd say 'Oh my goodness, are we beginning to have an economy that's too strong?'"
Step 3: Look at M2 Money Velocity Chart https://fred.stlouisfed.org/series/M2VStep 4: Laugh my fkn ass off  |
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Wow that guy is straight up Alpha --- he grew a beard, shaved it off, and grew it back all in the span of about 5 minutes, lol.  |
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Bitmain and Bitfury are most likely to deploy many of their new ASICs on their own farms, and I believe their cost to produce is way less than the price they give to the public. I suspect that most large mining farms in China will be able to recoup their equipment cost in a few months, if that long.
Hmmm. And here I thought that the WO consensus was that Bitmain was circling the drain, and were destined to kill BCH in the process. Guess that must have been a premature call. BCH is a dead zombie coin, only you haven't realized it yet. |
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6920 then 5200 then 6500 then capitulation around 3K in january 2019
With this difficulty there's close to 0% chance for ever getting back to $3000. Yes, electricity prices * difficulty are not directly correlated to BTC price, obviously, but no miner can afford to subsidize electricity costs to BTC network. You can not operate with a long terms loss, they will simply: a) turn off the machines, or b) stop dumping immediately what has being mined, making permanent bottom on break-even price level. Guess which one is more likely to happen. And they can't even do that, because they renew their electrical contracts 6-12 months in advance. |
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so we have a small small dip now let us continue the other direction
Yeah but you could be saying this for another year or three. That's the mentally draining part for some people. |
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I don't see any special rally in altcoins.
I was referring to the massive shitcoin pump that occurred around March of last year. Massive amounts of Bitcoin got traded for shitcoins. They all got pumped almost in the same week, most over several weeks simultaneously. I see some serious altcoins at 10%-15% ....and some shitcoins at 5%-10%.
There is no distinction. Altcoin == shitcoin. |
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But yeah XRP is basically the definitive shitcoin. And its hard to say what role XRP played in the current altcoin rally, with BTC rallying at the same time.
Because they *all* got pumped. Like literally every single shitcoin. On zero news or improvements to any of them. Which means their role was simply to participate in a massive coordinated PnD scam. If they're all equally special, then that means none of them are. |
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People should stop hating on XRP
 GET. OUT. |
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OT : Biggest pump and dump in American history - Heather coin   |
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https://www.ccn.com/bitcoin-still-in-the-middle-of-a-bear-market-analyst/Woo continued by supporting his claim using the Bitcoin NVT Ratio, which he terms as his favorite indicator. He explained that the NVT peaks during bear markets, although it has been criticised for being laggy in detecting bears, it is a leading indicator to signal the end of the bear. According to him, NVT returns to it’s normal range before the next accumulation phase, a condition that is yet to be fulfilled. How seriously is he/this article to be taken? My guess is we still are bearish. Willy Woo really knows his stuff. So do his other expert friends Billy Boo, Tinker Bell, and Bam Bam. |
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So MANY AMATUERS in crypto. Jihan despite building a billion dollar company is an amateur. You do not get political when you sell shovels. You just shut up and sell shovels. Idiot.
Or another analogy, when you are successfully mining Gold (something that people are actually buying and holding because they value it) you don't go on a political campaign to switch gears and mine something else that no one is asking for. Makes no fkn sense. |
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 watch out where you start with and buy some BTC with what you can afford to lose it might be the thing to save youHow is it a business failure when you're the one wageslaving? If anything the business is doing great after chewing you and spitting you out. "Thanks for the hard work, go away." I never understand these kinds of people...Is it the stuck mentality of the 1950s? Back when jobs actually paid money that was worth something? Yep, they chew you up and spit you out. Only to replace you with someone younger (*cough* cheaper *cough*) to do the same job. It's because companies don't want to pay the middle layers anymore. In fact, if they could automate and eliminate all the expensive middle and upper middle management, they would do so in a heart beat. If anyone wants to know if they have a long future with the company they work with, all they have to do is to look around. See many colleagues still there in their 50s and 60s? Or even 40s? No? Then you won't last there long either. This is the case with many companies now, especially tech companies. |
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At least Jihan Wu pretends to be on the right side of the argument. What good is a BCash hard fork to increase block size when no one is even buying and using that shit? No merchants, no investors, nothing. Sure it'll allow CSW et. al. to centralize and control a BCash clone, but he'll end up the King of a complete wasteland kingdom. Another dead zombie coin with no future. So what's the fkn point? |
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With public-private key cryptology, a cryptographic asset can be allowed to sit "out there" while retaining mobility, resistance to counterfeit and still be under the control of the owner. Public and private keys are decoupled. That is the huge advantage in value that Bitcoin has as a monetary asset over precious metals. It's also the property that gives it far greater resistance to the kind of manipulation from derivatives markets that we see in PM'S.
Agreed, and I think this feature of Bitcoin is why it is both admired and loathed by Wall Street. 1. Admired for precisely the reason that you described, as some welcome such an asset to be non-gamable or game-resistant unlike the derivatives markets (e.g., fake futures contracts, wash trades with non-existent shares, phantom "shares", rehypothecation of shares, HFT, etc.) 2. Loathed for all the same reasons. The SEC can't control all of the crypto exchanges and their behavior. Wall Street cannot game the system like they have with equities and commodities. I believe that this is precisely the reason that the SEC is dragging their feet on approving Bitcoin ETFs. It has nothing to do with "protecting the public", and everything to do with protecting Wall Street from itself. Under the table Wall Street is expecting the SEC to bend the rules of Bitcoin to benefit them, but the rules are unbendable... and I think the SEC realizes this. So it's just easier for them to shoot down all ETF approvals, at least for now. |
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