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April 11, 2021, 06:03:51 PM *
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1  Alternate cryptocurrencies / Altcoin Discussion / Re: Rise of the Altcoins! on: March 26, 2021, 09:32:06 PM
I disagree 100% with the OP, and with any speculation that Bitcoin is going to reach some ridiculous number like $50,000 each or something like that.

I think the vast array of altcoins coming out (practically daily now) is taking away from the value of all other coins.

Think of digital currencies like an economic industry, like automobiles or clothing or kitchen appliances.  Right now, the "digital currency" industry is worth about $8billion USD.  This number is not climbing steadily along with all the additional coins coming out, this value is remaining relatively static and is simply being distributed amongst all the digital currencies.

ALL COIN TRADING PATHS LEAD TO BITCOIN.  When a new coin comes out, it simply subtracts from the value of Bitcoin, because Bitcoin must be used to invest in that currency, or to convert it to $USD.  New currencies are not adding wealth to the digital coin industry, they are simply providing more places to move it around.

Something major is going to have to happen before this can change, I'm not sure what it is.  Maybe BTC needs to show up on the NYSE or NASDAQ so normal Joe's can invest in it instead of it being some "dark an mysterious" hacker-currency like the media has made it out to be.  Maybe some major retailers like Amazon need to start accepting it so it gets more public exposure.

As far as Bitcoin reaching $50,000 or some ridiculous number like that, this is simply nonsense.  Again, think of digital currency like any other economic industry.  With BTC at $50,000 that would make this industry worth well over half a TRILLION dollars - sorry but I just don't see that happening.  That's as large as the entire U.S. auto industry.
You're telling me bitcoin can't be worth half as much as the US auto industry? You've got to be kidding me. If bitcoin actually catches on, and I mean really catches on, bitcoin would go well over $50,000.

Of course, it's just as likely bitcoin will be nearly worthless years from now.

Was going through my old posts and found this discussion. The funny thing is people were always saying this about Bitcoin, yet nobody listened until now.
2  Alternate cryptocurrencies / Altcoin Discussion / Re: How long can this BULL run last?? on: March 26, 2021, 09:27:03 PM
At least few more months, then prices will fall. Better to liquidate the winnings before it is too late. Long story short: Don't get rekt, sell all asap.

Good news comes to Bitcoin one after another. Look at hedge funds that have been buying bitcoin over the years. The banks that accept Bitcoin and the latest cryptocurrency, Tesla, accept payments in Bitcoin.
I have confidence this bull run will last until the end of 2021. There are still many TOP altcoins that haven't passed their ATH yet so we can hope until they pass ATH for the bull run to the end.

Bull run for year? haven't witness that in my 5 years of stay in crypto, usually bull run does not even last for 6 months, it's just a short lived so we have to take it as an opportunity to sell our assets for instant profit, and try to accumulate once the correction starts or the bear market takes place.
I doubt the current bull market will continue for more than 2 months, correction has started to cause falling charts. The new market cycle will begin after August, IMHO.
It's tough because of the tax consequences of selling. Are you so sure that it will go down that it's worth handing over a large portion of your money to make that bet? Taxes create an incentive to hold investments for long periods of time. I find any external force that interferes with the free market to be problematic and is likely a contributing factor to the bubble cycle that a lot of assets experience.
3  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][HUC] Huntercoin - Worlds First Decentralized Game/World on the Blockchain on: March 15, 2021, 05:24:18 AM
Decentraland has been really blowing up lately. Reminded me of the old Huntercoin. Is the game even still active?
4  Alternate cryptocurrencies / Altcoin Discussion / Re: Binance as the third largest coin on: February 22, 2021, 04:01:40 PM
The pretty obvious reason in my opinion: Ethereum's fees have been quite high for a while, and Binance Smart Chain(BSC)'s fees are drastically lower. And yes, BSC is like magnitudes more centralized than Ethereum, but it comes to show how a lot of people don't care that much if a certain project is decentralization or not as long as they can make their bets on certain tokens.
I really don't think centralization is an issue with BSC compared to Ethereum. Ethereum literally rolled back hacks and gave people their money back. There is literally nothing worse you could do from that standpoint, so no matter what the powers that be at BSC do they still won't be as bad as the Ethereum leadership.
5  Economy / Economics / Re: Citi Canít Have Its $900 Million Back on: February 19, 2021, 05:47:54 AM
See, this is why we need the banking system to be run on Ethereum. It is crazy that the banks, out of all organizations, are using payment mechanisms without built-in bailout capabilities.
6  Economy / Economics / Re: Citi Canít Have Its $900 Million Back on: February 18, 2021, 07:52:16 AM
Perhaps someone can invent a new altcoin which addresses these concerns?   Smiley

Wouldn't be that the most useless altcoin ever?
Just imagine, I'd send coins to the exchange, withdraw Bitcoin then revert the altcoin transaction. It would allow you get anything for free. Do you expect anyone - from exchanges to merchants - would be stupid enough to accept such a coin?!
It already exists, it's called Ethereum. I prefer to call it SCTN though, Smart Contract Testnet. If you don't like the result of your smart contracts just request a bailout.
7  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] [ETC] Ethereum Classic: Immutable Smart Contracts on: February 18, 2021, 07:36:32 AM
As I saw, ETC hadn't such pumps like a lot of coin on market now. It's strange, because it's popular coin. So I think, maybe we can see ETC price growing in near future... Should we buy it now, untill to late?
It absolutely has some serious pump potential. It has good exposure to normal investors with Greyscale and Robinhood, it's unfortunately just stuck in that ever declining state (despite the recent increase) that all altcoins tend to be in when they're not going up. ETC just needs to become a hot investment again, if we see $50 we can see $500.
8  Other / Politics & Society / Re: Decentralised Government - DEGOV on: February 18, 2021, 07:32:33 AM

Is DEGOV a possibility?

No, it is not possible. At least not over the long term. Extremely weak governments such as what you describe will ultimately get overrun by stronger governments looking to expand. Look at what happened to the Indians in the early days of the United States.

Native Americans were centuries behind in technology and were outmatched by the settlers. The people absolutely would fight back against an attack. We don't need an organized military to do that, we just need some Americans that aren't braindead and still care about their freedom.
9  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] [ETC] Ethereum Classic: Immutable Smart Contracts on: February 16, 2021, 10:52:40 AM
why this is happening....1ETH = 200ETC?
why is the difference between the two currencies constantly increasing?
Can anyone explain ...? What has ETH and does not have ETC?

Not the same project!

Exactly, one of them seems to be successful  Roll Eyes
Successful, yet bereft of integrity. I have come to the conclusion that Ethereum is just like Ripple, a centralized token designed to enrich the founders and insiders. Imagine if Bitcoin had a bailout. Don't we remember when Bitcoin came into existence? Following the financial crisis and the bailouts! A bailout is the very antithesis to cryptocurrencies.

10  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] [ETC] Ethereum Classic: Immutable Smart Contracts on: February 13, 2021, 07:13:40 AM
why this is happening....1ETH = 200ETC?
why is the difference between the two currencies constantly increasing?
Can anyone explain ...? What has ETH and does not have ETC?
ETH has the can't lose money feature. If you don't like the outcome of your smart contract, just undo it! Duh!!
11  Alternate cryptocurrencies / Altcoin Discussion / When did the word "crypto" become so popular? on: February 10, 2021, 11:53:04 PM
Back in the day nobody ever referred to cryptocurrency as crypto. When did this term become so popular?
12  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] [ETC] Ethereum Classic: Immutable Smart Contracts on: January 09, 2021, 04:01:34 PM

ETC/ETC keeps dropping

1ETH = 125ETC

1ETH = 148ETC

This is sad, especially for us early backers of this project.

Has there been a technical analysis on ETC and why ETH is able to attract all the investment while ETC is still straddle shitting?

It's pretty simple. Most of the incoming investors do not know why ETC exists and even if they do they don't care. Cryptocurrencies have lost their way. An immutable blockchain is as intrinsic to cryptocurrencies as free speech is to a free country. What pains me about the growth of cryptocurrencies is not the new size of the community, but how the community has changed.
13  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] [ETC] Ethereum Classic: Immutable Smart Contracts on: January 09, 2021, 04:32:14 AM

ETC/ETC keeps dropping

1ETH = 125ETC

1ETH = 148ETC

This is sad, especially for us early backers of this project.

Has there been a technical analysis on ETC and why ETH is able to attract all the investment while ETC is still straddle shitting?

Most people getting into cryptocurrencies these days have zero clue what makes them special. ETH is a goddamn joke, what is the point of these smart contracts when you can undo them if you don't like the result?

deeeeeeeeeeeeaaaaaad
forever.

There will be a resurgence. May take a while though.
14  Other / Serious discussion / Re: California Court of Appeal / Coinbase: not your keys, not your (forked) coins? on: January 05, 2021, 09:10:20 AM
Forked coins are "third-party" coins even if they're forked from supported coins, and the exchange has no obligation to install its software or to provide services related to these third-party coins, if this is not marked in the User Agreement. The exchange has therefore no obligation to make forked coins available to its users.
Honestly, as much as I hate Coinbase, this makes sense. There are a sh*tton of forks (I believe the website isn't even up to date) and if I owned Coinbase, I'd do either the same or allow the customer to take the forks with a little premium for my company's efforts of retrieving them (unless I directly gave the customer their privkeys).


I don't like this slippery slope argument. Sure, there are a lot of forked coins, but we can be reasonable here. Some exchanges refused to credit their users with BSV. BSV is #14 in market cap. This is significant. Just because you allow a user to use their #14 ranked coin does not mean you need to give them access to #1,400. I am not opposed to a reasonable handling fee by the exchange that covers the costs associated with crediting their users the coins from the split.
15  Other / Serious discussion / Re: Is Coinbase a trustworthy company? on: January 05, 2021, 09:04:02 AM
Coinbase is the PayPal of the Bitcoin world. Ubiquitous, used by most newcomers, bans people all the time for no reason, acts all high and mighty while being responsible for more criminal activity than any other exchange, and their customer service is so terrible it feels like they hate their customers.
16  Other / Serious discussion / Re: is it ok to give out testnet loans for collateral on: January 05, 2021, 08:59:47 AM
Yes. It is okay to do whatever you want. What right does someone have to enforce their beliefs on you? The parameters are known - the testnet can be reset at any time. Take that into consideration when using testnet coins, otherwise have at it.
17  Economy / Speculation / Re: Could 1 Satoshi (SAT) be worth $1 one day? on: January 05, 2021, 08:53:00 AM
No, Bitcoin will never be worth one hundred million dollars. States will not allow such a reallocation of capital. They still allow the cryptocurrency to develop freely because they do not see a threat to the existence of their overall financial stability. We see how the position of the SEC, the body of only one state, really affects the ripple and coins with a high level of anonymity.
Already now I am wondering how the states will react to the fact that the price of bitcoin this year may rise within the range of 50,000 - 100,000 dollars.
If a bitcoin is worth a million dollars I think one hundred million is well within reach. Those prices would require the complete demise of the dollar.
18  Economy / Speculation / Re: Correction has started? on: January 05, 2021, 06:33:22 AM
If $30k doesn't hold, this run is over.  That's not to say there won't be bounces. 

But I've been watching transactions and seeing a lot of money moving from cold wallets to exchanges over the past few days.  There's also been articles about this.  People taking profits. 

I predict we'll settle in the mid-$20k range, then up again, then down again.  There's also regulations coming in the next few weeks.  UK buying ban in effect tomorrow, etc.

And the problem with institutional investors is - while buying is wonderful, selling is not.  MicroStrategy bought their $1.6B worth of coins at an average of $21k/bitcoin.  If the price drops below that, I'd imagine their investors would be clamoring for answers, and may force a large sale to cut losses.  That sort of event could be what sets of a bear market for sure.
Source on that price? I thought it was more like $10K.

And yeah, I don't like the way it looks right now. Running out of steam and unlike the past few days people actually have a reason to sell.
19  Economy / Exchanges / Re: MtGox withdrawal delays [Gathering] on: January 01, 2021, 06:58:54 AM
80k BTC of MtGox have been found to be controlled by CSW for a long time ??

https://twitter.com/MagicalTux/status/1271473195921465344

No. It's another of Craigy's lies. He just selected an address with a large balance and pretends it's his like all the other ones.

He was a Gox customer himself and moaned about losing in there. He probably had a grand total of 0.001 BTC. And it's ever so slightly doubtful that the actual Satoshi would be using a piece of shit exchange like that, or any exchange.

What makes you think Satoshi would never use an exchange? Satoshi is often treated as this godlike character, which is reasonable considering what has happened, but we don't know why Satoshi disappeared, hasn't sold any coins that we know of, etc.
20  Economy / Speculation / Re: The Big Short movie, BTC edition? on: December 15, 2020, 06:17:14 AM
Tether FUD? What is this, 2017? Roll Eyes

Until I see an FBI logo across Bitfinex and Tether's websites and a press release about billions of dollars seized from their bank accounts, I'm not concerned. I don't even care whether USDT is fully backed. The market doesn't care either as long as withdrawals are operational.

Someday I'm sure the music will stop but Bitfinex and Tether have been a "ticking timebomb" for several years already. Timing their downfall is impossible and to be frank, the US government looks powerless to stop them.

Timing their downfall is impossible, so you just don't care? Why would you hold something that eventually will go down in value (even moreso than the dollar itself) when it can never go up, especially when reliable stablecoin alternatives exist?
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