Latest posts of: jertsy

The 30 % of the premine for developing masternodes plus the 43 % for staff equals 73 %. That seems like too much of the premine going to the developers. Pawcoin might be more successful if the developers reduced the percentage of the premine they get.

Quote from: topper26 on February 05, 2018, 07:51:52 PM

many folk predicted this, one even said bitcoin will trade at both 6k and 60k this year. well we are at 6.8 now! lol

shit this sucks no doubt about it but i am buying and holding, not even thinking about selling, i'll go down with this ship but then rejoice when this rocket blasts off

It's better to buy now than when it was an the ATH. Keep buying each time it goes down and hodl. Don't think about selling until it goes back up to a new ATH.

Quote from: Febo on February 05, 2018, 07:44:40 PM

Quote from: zarados on January 31, 2018, 03:55:32 AM

let me remind you of this, that this is not the first time bitcoin has crashed very significantly and its not the worst of all crash. (correct me if i'm wrong) Based on bitcoin history, crashes occur on:

2011 jun- Nov: -97%---> From $ 32 to $ 2
2012 jan - Aug: -36%---> From from $ 7 to $ 4
2013 Mar 6 -11: -25%---> From $ 49 to $ 36
2013 Apr 10: -79%---> From $ 266 to $ 54
2014 Feb 24: -49%---> From $ 867 to $ 439
2017 jun 11-16: -36%---> From $ 3,000 to $ 1.869
2017 Sept 2-15: -40%---> From $ 5,000 to $ 2,972
2018 Jan 17: -63%---> From $ 19,783 to $ 7,324

If viewed from history, crashes often happen every year since 2011 and proved that this year is not the worst year of the year - the year before. What do you think, whether this crash will continue or not?

I edited your data a bit to most recent. It seems we were part of quite a big crash that took so far 6 weeks. Only two was bigger and both were because of some exchanges malfunction. We are definitely writing the history right now. But on other hand this was expected from the unstoppable and unbelievable growth at last 3 months of 2017.

It's still worth more than three times what it was in December. Imagine what the 2011 crash felt like when it ended being worth sixteen times less than the ATH. That was the main historic crash. Compared to that this is a correction.

Quote from: martinlivet on February 05, 2018, 06:48:10 PM

What kind of fool is actually prepared to sell at these prices? I know I'm not Wink

Anyone new to Bitcoin might sell when they see their investment has lost half its value. Old timers used to years of dramatic price movements know it will recover eventually, newbies don't. The whales make their money from the fear that makes newbies sell when the price crashes.

Quote from: alyssa85 on January 20, 2018, 01:46:40 PM

I don't think so. The Americans have had these budget disputes for what seems like forever, and the public just rolls their eyes each time, they've got so used to it.

In 2013, the govt was shut down for two weeks, and the country still managed to function (because the states and cities run so much of it).

Its happened before, and this shut down was anticipated. Any effect on Bitcoin would already have been priced in before it happened. Bitcoin's price recovery is nothing to do with the shut down.

Quote from: 1Referee on October 27, 2016, 11:44:16 AM

Quote from: bamboylee on October 27, 2016, 10:36:04 AM

Why does bitcoin price seems to pump around this time of the year?

Probably because it happened last year, and the year before it as well. And in that regard people will just assume it will happen again, which you seem to think as well. As result you will see people anticipating on a likely break-out in the price by starting with buying up some "last minute" coins, in order to be ready to sell when the price really rockets up.

<snip>

That's probably why, I was reading a post in a thread about the Kraken in service discussion in which someone said he tried to deposit £9K in September to get in early because he anticipated the price going above £500. There are also other people in that thread who deposited in anticipation of a pump. This time last year the price doubled and people are buying because they anticipate another pump.

Quote from: DaddyH on October 26, 2016, 09:02:24 AM

<snip>

I'm trying to deposit £9K and have supplied proof of earnings for way over £25k.
I made this deposit back in September when BTC was < £500 in an attempt to get in early. I've missed that boat.
<snip>

There's no need for a third way, Satoshi's coins are already safe from quantum computer attacks.

Quantum computers can't calculate a Bitcoin private key from an unspent bitcoin wallet, so Satoshi's coins are safe from quantum computer attacks. He never moved any of his coins. If he had moved some he would have revealed a public key which a quantum computer needs to calculate the private key.

https://bitcoinmagazine.com/articles/satoshis-genius-unexpected-ways-in-which-bitcoin-dodged-some-cryptographic-bullet-1382996984

Quote

Quantum computers are capable of breaking elliptic curve DSA (ie. given a public key, a quantum computer can very quickly find the private key), but they cannot similarly reverse hash algorithms (or rather, they can, but it would take one 280 computational steps to crack a Bitcoin address, which is still very much impractical). Thus, if your Bitcoin funds are stored in an address that you have not spent from (so the public key is unknown), they are safe against a quantum computer - at least until you try to spend them. There are theoretical ways to make Bitcoin fully quantum-safe, but the fact that an address is simply a hash of a public key does mean that once quantum computers do come out attackers will be able to do much less damage before we fully switch over.

Quote from: JimboToronto on October 04, 2016, 05:05:01 PM

Good AM BTCland. Slept in a little today. Normally I'm up by the crack of noon.

Still no change... $612 on Bitcoinaverage.

Not a lot to talk about in this thread (except the ongoing block size debate, in which I refuse to become involved) until we see some real movement.
___________

In the meantime Adam is conspicuous by his absence. He seems to be around the other forum (the one with Chartbuddy) so I gather he's avoiding/boycotting this one.

Anyone know why, except for his obvious disagreement in the aforementioned block size issue? He came back quickly after his mini-ban a few months ago. Any reason why it's different this time?

The price has been going sideways for two months and there's absolutely nothing happening. He's probably too bored to post here. He'll start posting here if there is a major event like an exchange hack, or Bitcoin doubling in price.

There are other crypto websites advertising cloud mining. Coinmarketcap was advertising one five minutes ago.

They probably get paid by Google ads or similar, and don't know what will be in their banner. I don't know if you can pick and choose what Google ads your site shows. It might be a case of let them show anything or you can't use Google ads.

Quote from: Carlton Banks on August 22, 2016, 09:03:45 AM

1st rule of market predictions: only ever predict the "what", "how much" and "when" separately. This prediction appears to be predicting all 3 together. Tempting to bet against it (although I don't partake in that kind of gambling)

Professor Bitcorn made that mistake by predicting Bitcoin would crash to less than $10 in 2014. He might not be a laughing stock if he had only predicted a price without a date.

If the dollar really collapses soon it's affect on Bitcoin would depend on if all the other major currencies also collapsed. If they all simultaneously collapsed Bitcoin would become a safe haven for investors like gold. If only the dollar collapsed investors would move their money into other strong currencies, and Bitcoin wouldn't become a major safe haven.

Quote from: adamstgBit on August 03, 2016, 09:39:51 PM

Quote from: jertsy on August 03, 2016, 09:16:26 PM

Quote from: adamstgBit on August 03, 2016, 08:31:29 PM

thanks jertsy.

now i just need the time of the p2sha address got moved

edit

I just checked and for me i see 14:00 bitfinex goes offline ( i zoomed into the 5Min candles ) 14:00 stamps crashes below 600

I guess i'm not set to UTC time, but still from my view i see that stamps started its nose dive mins if not secs after bitfinex going offline

I think you're right, I checked again on bitcoincharts where you can view the raw data from Bitstamp trades, and it shows the nose dive starting straight after Bitfinex going offline.

Sorry about my earlier guesses from 30 minute time interval charts. I should have viewed the raw data.

http://bitcoincharts.com/charts/bitstampUSD#rg2zig5-minztgSzm1g10zm2g25zv

confirmed!

also ... https://www.reddit.com/r/Bitcoin/comments/4vuliy/bitfinex_users_fund_moving_on_20160802_8am11am/

8am UTC time the funds moved

Elwar posted a link to an address (probably belonging to the hacker) that received Bitcoins from his Bitfinex address. I traced the coins back to this address which is probably Elwar's. It shows the only movement of coins out of it was on 2016-08-02 at 09:45:42.

If blockchain.info is using UTC there must have been hours between the hacker moving the coins and Bitfinex shutting the site down. Why the giant delay, did it take them hours to realise they'd been hacked?

https://blockchain.info/address/3HQm8EnB1txS3nNhNdvTNY3AQj6aDPi7Vs

Quote from: Elwar on August 03, 2016, 06:05:17 PM

Quote from: Karartma1 on August 03, 2016, 06:01:32 PM

Hi Elwar,
can you post the compromised finex addresses please?
Want to have a look at them
Thanks

I tracked mine here:
https://blockchain.info/address/1JZrner13nGZZvnvbY2BtR4AkUv3byVJte

They did not verify that my account was hacked but because it is no longer in a multisig wallet they said it is likely.

Quote from: adamstgBit on August 03, 2016, 08:31:29 PM

thanks jertsy.

now i just need the time of the p2sha address got moved

edit

I think you're right, I checked again on bitcoincharts where you can view the raw data from Bitstamp trades. It shows the nose dive starting straight after Bitfinex going offline.

Sorry about my earlier guesses from 30 minute time interval charts. I should have viewed the raw data, but I couldn't until I found the "Load raw data" link at the bottom of this page.

http://bitcoincharts.com/charts/bitstampUSD#rg2zig5-minztgSzm1g10zm2g25zv

Quote from: adamstgBit on August 03, 2016, 06:22:45 PM

I want to write a bitmovements update later, but i would like have some info before i do.

I want to find 3 timestamps

1) the time at which the p2sha address was moved.
2) the time at which bitfinex went offline
3) the time at which the market broke below 600 and started its nose dive.

I'll go look this up later, but if someone could help me out that would be cool.

According to the Bitcoinwisdom Bitstamp 30 minute time interval chart the price decisively crashed below $600 between 19:00 UTC and 19:30 UTC. There was probably a gap of about an hour between Bitfinex going offline and the crash below $600, although the price had been wavering between $595 and $605 for an hour or two beforehand.

Quote from: adamstgBit on August 03, 2016, 06:22:45 PM

I want to write a bitmovements update later, but i would like have some info before i do.

I want to find 3 timestamps

1) the time at which the p2sha address was moved.
2) the time at which bitfinex went offline
3) the time at which the market broke below 600 and started its nose dive.

I'll go look this up later, but if someone could help me out that would be cool.

Bitcoinwisdom shows the last trades as between 18:00 UTC and 18:30 UTC, based on its 30 minute time interval chart. However, the Bitfinex status page has a timestamp of 18:06 UTC on the notice of the hack. Based on those bits of information Bitfinex must have gone offline between 18:00 UTC and 18:06 UTC.

Quote from: gentlemand on July 19, 2016, 03:03:35 PM

Quote from: jertsy on July 19, 2016, 03:01:07 PM

That test might result in a price jump despite whether anyone supports the lightning network or fights it. A jump might go above $700 once and for all. There's been a few weeks of calm but some news like that might start the high volume violent price moves again.

Since when did your average trader react to news other than the bad? I can't really think of anything. The unfortunate thing about bad news is that it's usually instant whereas good news always adds to a future just beyond reach.

Was news of the Brexit bad news? It depends on your point of view, but Bitcoin soared back up to $700 as soon as the news was out. I'm certain the fiat market traders who lost a fortune betting on no Brexit viewed it as bad news, and I'm also certain many Bitcoin holders viewed it as good news.

Quote from: Torque on July 19, 2016, 02:44:23 PM

Quote from: hmmkay on July 19, 2016, 01:47:50 PM

https://twitter.com/bencxr/status/755241138756448256
LN test: 20 payments in 100ms > 17+million per day, per channel.

This is getting interesting.

Indeed. You know, there are prominent people in the Bitcoin community that I admire and still support, but I'm baffled by their opposition to LN being a separate thing from the core Bitcoin network.

Anyone who knows anything about technology, networks, and programming knows the valid reason why databases are completely separate from the transactional layers of any application. Or how bank clearing houses work. It's really the only way to scale it properly.

Quote from: kobilica on July 13, 2016, 07:37:11 PM

Quote from: JayJuanGee on July 13, 2016, 06:44:39 PM

Quote from: kobilica on July 13, 2016, 01:30:25 PM

Why is price falling down now, anyone know what happened? Bad news again?

It's called normal oscillations in the price... remember yesterday? The price went to $678.. about 24 hours ago?

It doesn't make much sense that you want to call this current situation "down" movement, when prices are kind of in a range... and bitcoin price is a kind of moving dynamic, but it seems that at this time, our range is approximately $540 to $778...

We are currently kind of in the middle of that range, no? Or at least reasonably moving around in that range towards the middle...

Within our current $540 to $778 range we can have normal or extreme upwards and downward corrections.. We have been here for about a month... and if we break into the lower end of the current range, then maybe we could concede.. "prices seem to be going down"

On the other hand, if we start to move into the upper end of our current price range, we may conclude the opposite...

Right now, we just have seemingly normal price movements on fairly low volume and from time to time testing within our current price range (which is still quite big range to be in), but the current price range generally seems to be upwardly projected from the last price range that we were in (which was largely between $360 and $460 for a large number of months)

TLDR: you seem to be getting too anxious in looking at short term charts because BTC prices are more trending upwards rather than downwards at the moment. Roll Eyes

True, it's just oscillation. And yes, true, we are in middle range now... halving has not even started yet!

Second, also true, getting too worked up about those oscillations. Thanks for clarity, friend.

The last two weeks the price oscillations were between $600 to $700, and next week the price oscillations will probably be between $625 to $675. After the price oscillations are in a $10 range for a week or more Bitcoin might break the $700 barrier. Until then its price will probably get more and more boringly stable.

Quote from: Kprawn on July 02, 2016, 04:58:57 PM

Quote from: OmegaStarScream on July 02, 2016, 12:44:42 PM

Quote from: foxxcom on July 02, 2016, 12:34:39 PM

How bitcoin maintain its network when bitcoin no longer mineable?

Miners will continue to work and secure the network , instead of getting block rewards they will gain the transaction fees instead.

Who cares really ? None of us will be alive at that point.

This is usually my answer to this question too, because it has been asked many time on this forum before, but I want to throw a spanner into the works... Let's say the volume of the transactions do not

increase? Would people be willing to make a donation to a central pool for miners to continue mining if it comes down to that? I do not think they will ..... Will they pay larger fees than the current

industry standard to get their tx's mined? I guess not..... How will we fund this experiment, if tx volumes decrease and nobody wants to pay extra large fees to feed these hungry miners?

In that case the miners with the most hash power would switch off because it would be unprofitable. There would always be smaller miners willing to carry on mining with cheaper equipment, and at a lower hash rate. The difficulty would drop and the little miners would keep the network going.

What I hate about the "blockchain" ideology is that Bitcoiners call it "the blockchain", but the new ideology calls it "blockchain". It's like by missing out "the" in front of "blockchain" they want to steal the blockchain from Bitcoin by separating the two.

Quote from: Wendigo on May 26, 2016, 07:21:58 PM

Okay so I have gathered from all the information posted here that PayPal wants to create a hardware wallet and a debit card that connect to a virtual currency wallet. I guess PayPal being in control of the accounts will make this whole system strongly centralized and on top of that the PayPal alt coin if I can call it that will be reversible and disputes will actually be permitted. I don't think the Bitcoin community would be happy with these circumstances as this goes against the Bitcoin motto of freedom and decentralization. But I guess this new coin would appeal to merchants and service providers for doing business online. I think the chances of PayPal accepting Bitcoin directly in their system are slim, it's more likely that they are banking on the Blockchain technology itself.

All the giant companies in America have Blockchain tech patents. Blockchain tech is the latest buzz for them and they will patent the crap out of it. A Paypal crypto patent doesn't imply they will or won't implement it soon, but it is a way of protecting themselves in the patent wars.