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401
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Economy / Speculation / Re: What is the future of bitcoin in 2025?
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on: April 27, 2018, 05:17:50 PM
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Well, between now and 2025 there will be two block halvings. Assuming Bitcoin still has the most hasrate by then, adoption doesn't decline, and no governments create fedcoin, than we should be in good shape. If the lightning network works out, 2025 we could easily see a $250k price point. Possibly more.
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402
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Other / Beginners & Help / Re: How stable mining is?
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on: April 27, 2018, 04:52:07 PM
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There are lots of mining sites which gives free coins but you cannot withdraw. How true is this one? I cannot even withdraw what I mined. How to learn more from mining?
Mining sites that give free coins? Like cloud miners? Whatever is it, it is probably a scam or Ponzi. It's never a good sign if you can't withdraw your earnings. That would only make sense if your earnings/holdings are less than 10k satoshi. |
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403
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Bitcoin / Bitcoin Discussion / Re: Will banks ever offer bitcoin deposits?
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on: April 26, 2018, 03:54:32 PM
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We all know how risky bitcoin is. Let's imagine the most riskiest money deposit situation.
What do you think guys, will this moment ever come and banks decide to offer us Bitcoin deposits (e.g. fixed profit on 1 year deposit and etc).
This can be very, very profitable for banks if they make correct decisions.
P.S I don't mean freebitco.in's offer of holds on their wallet. I mean if official banks ever offer us this service.
I would argue depositing funds in a bank is even riskier. Why have everyone's private key stored centrally? Also Freebitco.ins 4% interest rate offer is very interesting, but seems a little Ponzi-ish to me. I really don't know too much about their site. |
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404
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Bitcoin / Bitcoin Discussion / Re: I realized that I won't see the moment when the last satoshi will be extracted
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on: April 26, 2018, 03:01:54 AM
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That's very interesting. In this website you can see the bitcoin inflation rate Btc still has about 4% inflation rate per year., Which is a high inflation, above the average in the world. https://charts.bitcoin.com/chart/inflationSoon btc will have almost zero inflation. By that time it's gonna be valuable, more and more each year. Exactly. There are many miners out there that sell their BTC when they get it, instead of hodling it. After the next block halving in 2020, the amount of bitcoins the miners sell each day will be cut in half. Causing a much smaller influx of coins new coins on the market. By 2020 the demand and userbase of BTC should be much larger as well, so that means the price can only go one way... |
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405
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Bitcoin / Bitcoin Discussion / Re: BITCOIN TREASURE’s
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on: April 26, 2018, 01:27:22 AM
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Because if no one can take that bitcoin treasure and put it back to the market bitcoin cerculation suppy will slowly lose forever.
While I thought this would be true as well, its not really the case. As time goes on, people are more careful with the way they store Bitcoins, so they won't lose them as often as people have in the past. So theoretically, fewer and fewer coins should be lost as time goes on. Even then, each bitcoin is worth 100 million satoshis. Even if more coins get lost, you can just divide whats left. 21 million coins are actually 21 quadrillion units of value. |
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406
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Bitcoin / Bitcoin Discussion / Re: Bigger Than the Internet
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on: April 24, 2018, 03:57:15 PM
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While I love Tim Draper and the Bitcoin ties he wears, I don't think that will realistically happen in five years. I do think this is possible though if Bitcoin pops all the other financial bubbles (Stocks, bonds, real estate, credit, etc) and causes a massive influx of capital into the network, causing Fiat to become worthless in the process. What would this event be called? Global hyperbitcoinization? If that happens, Bitcoin would definitely become bigger than the internet. Wait... Is it even possible for Bitcoin to become bigger than the internet when it is on the internet itself? This is getting too inceptiony... nope
physics
bitcoin needs the internet. if bitcoin was to become bigger than the internet then it would end up utilising every website, every IP and a new international communications platform would be needed to cope with bitcoins communication overflow.
also not everyone with the internet will have bitcoins.
bitcoin can become bigger than many services that utilise the internet.
analogy
you cannot have a bedroom thats bigger then the house its built within.. however it can be the biggest bedroom in the house
I don't think OP is asking if Bitcoin can physically and technically be bigger than the internet, he's asking if Bitcoin will have a larger, more profound effect on society like the internet did. |
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407
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Economy / Speculation / Re: Why bitcoin price getting low?
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on: April 24, 2018, 02:14:48 AM
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And now bitcoin has started to rise again after a long fall in low prices, and I believe bitcoin will return beyond last year.
Let's be hopeful that it would actually regain its highest peak, we've been wanting to see it growing specially we have invested good amount when the price is still high. I believe the red days is over yet its not yet late to buy more volume of bitcoin. Last years track was almost likely the same as todays track. So buy now before its too late, we can still afford to buy now dont wait until tommorow. yes, a red day is over, but I think, bitcoin condition is still not safe, and still can fall again. worries still stay in my heart because the correction is not over. but by looking at the green market a little cure my worries. I also do not just invest in bitcoin but I invest in some altcoins that have good growth. and I hope the bullish market will bring it up and high. I have the same sentiment as you. This to me seems like a bull trap, over the next few months I do think we will sink lower. I want the opposite to happen, like everyone else, but it is far to soon to see a reversal and continuation of the bull run. Eventually, a bull market will return, and Bitcoin will come back higher than ever, media interest in Bitcoin seems to wax and wane every few years. |
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408
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Bitcoin / Bitcoin Discussion / Re: Bitcoin Update April 24
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on: April 24, 2018, 02:11:07 AM
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Unfortunately, bitcoin's movement is very unpredictable. Analysis could be done, however the results could always go otherwise. The best thing to do (well at least, in my opinion) is not to buy when the price is starting to go bullish because you might end up being trapped soon. Always buy low. Thanks for this update anyway.
Your opinion is great advice. It is almost always a bad idea to buy when the price is already in green for the day. Wait for a pullback, even if its a small one in a bull market. Analysis is hardly ever right, and the times analysis is correct could very well just be luck of the draw. Its not usually a good idea to follow TA unless its someone who is usually correct (Chessnut appears to be correct often). |
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409
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Bitcoin / Bitcoin Discussion / Re: Bitcoin failed as a currency
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on: April 24, 2018, 02:04:40 AM
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Bitcoin is still being used as currency because you can pay in millions of merchants with bitcoin and its still dominant whole cryptocurrency space.
Therefore bitcoin is both investment and currency, in next few years we will have lightening network which will make bitcoin ultimate payment gateway.
Bitcoin might keep on holding speculative value in future too but volatility might get lower down with increasing marketcap.
Yes! Once the market gets larger (much larger) volatility should decrease significantly. The plus the lightning network will set Bitcoin up for use as a currency. Currently right now with its volatility, people view it as a speculative investment. I do think Max Keiser is correct in stating the price will stabilize at around $100,000 USD. |
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410
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Economy / Speculation / Re: BTC Struggling to Reach Over 9K
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on: April 23, 2018, 04:34:55 PM
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https://www.coindesk.com/bitcoin-struggles-above-9k-as-bull-breakout-stalls/It seems as though the bull market everyone is hoping for and expecting is on pause at the moment. BTC has hit a point where every time it touches 9k, many sell orders go through and push it back down just below this mark. There will be a time when buys will overtake these momentary road blocks. Until then its just a waiting game. Good Luck Traders, The Elysian Team Funny market... BTC price is just dancing between 8.8k+ to 8.9k it doesn't want to above over 9k, but it definitely will. Yeah there is a lot of resistance up to $9.1k, seems like the price wants to go up but is being held down by that resistance. Im certain it will go over $9k eventually, it definitely is close now, but I think we may continue the bear market very soon here. It is too early for another bull run. |
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411
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Economy / Exchanges / Re: How long does it take Poloniex to complete Open Orders?
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on: April 23, 2018, 04:28:07 PM
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Ok that makes more sense, placed order to sell at the current price at the time of $8979 this morning and price has dropped a good bit since then
So I'm going to guess you didn't use a market order, as that would have made the trade go through instantly. You most likely went to trying to use some sort of limit order ( or something of that nature) and your trade didn't go through as the market moved around. Could we see exactly what your order looks like in order to further help ya out with this problem. Wouldn't want someone trying to buy / sell 13 btc and it not work for them! All i did was wait until the price hit a certain amount then manually place the sell but looks like the time it took me to login and make the sell the price dropped and left my order open until the price goes back up. In gonna start using the limits to automatically trigger the sells and buys so i dont have to deal with this sort of stuff. Im still new and didnt want to do that but if it means missing out on my profits if i dont then i will of course Using limits is a great strategy when it comes to trading. That is how I exclusively trade, just by placing the buy and sell limits. It can seem a little overwhelming when you are new at first, but you will get the hang of it very quickly! |
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413
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Economy / Exchanges / Re: How long does it take Poloniex to complete Open Orders?
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on: April 23, 2018, 12:21:20 AM
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Placed an order to sell 12 BTC this morning about 10 hours ago and its still in the Open Order section. How long to actually complete the sell? Thanks
It depends on when someone is willing to buy your coins at that price. Basically, your order is in the market providing liquidity for buyers. They need to buy all the sell orders in front of yours before they start buying yours. First come first serve basis. There is no way of telling when the order will get filled, the price could crash and it could be years before it gets hit. Or it could skyrocket and hit your order instantly, it always depends on the volatility of Bitcoin. |
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414
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Economy / Speculation / Re: Your experience with FOMO (fear of missing out)
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on: April 22, 2018, 08:58:01 PM
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Fear of missing out is familiar to many.
It is known from psychology that fear-based factors also affect people in the crypto market, emotions drive their choices more than intellect.
How have you dealt with FOMO?
Interesting thread. It's very easy to get caught up in hype and FOMO. In regards to dealing with it, I heard some good advice last year about altcoins which has saved me from alot of headache: If the coin has already done a huge exponential rise recently, you're already too late. Summary: Never jump on after you see a big move. This would be based on emotion instead of strategy. Train yourself to not follow these urges. This is the best advice. If the coin is up 10% - 20% don't buy. It has already risen, you are too late at this point. I have made many bad trades due to fomo, and have learned from them since. And I've done better because I have avoided it. Nearly every time i've fomo'd in, it would rise another 1% then drop at least 10%. Risk v Reward is not worth it. |
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415
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Other / Beginners & Help / Re: my brief summary on Proof of Work
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on: April 22, 2018, 08:50:38 PM
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The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. So basically, the longest chain is whatever Jihan is pointing his machines at? this is how I see it at the moment, unfortunately. We need more competition in mining, im looking forward to the next decade to see what others have to offer. Right now im with Luke when it comes to paying attention to hashrate distribution, it's a problem... but changing the PoW would be a disaster and kicking the can down the road. We either need proper game changing approach to PoW or simply we need more competition for Jihan's monopoly. Again, I think things will look different during the next decade, im not too pessimistic. Cobra has the same concerns. I believe some "Bitcoin oracles" were overreacting when they said that he was compromised when he tweeted about buying some Bitcoin Cash. I personally believe that Bitcoin Cash is good for those people who want to have bigger blocks. But what they should not be doing is claiming that it's the real Bitcoin. Plus there are some interesting proposals in Bitcoin Cash that should be considered by Bitcoin Core in my opinion, like implementing more Opcodes to add more functionality. Cobra made 0 sense. One thing is to point at possible centralization of mining on Bitcoin, then a very different thing is saying "im going to buy some Bitcoin Cash" as if BCash wasn't even more centralized. It's sane to think that he was compromised or bribed in some way to shill BCash, it solves none of the fundamental Bitcoin problems. Sorry if this is a very dumb question, but can you help me understand the "longest chain" is the valid chain concept? This is something I'm confused about when it comes to bcash, as it is currently the longer chain. Is it because these are two separate coins at this point? Or does the "Longest chain" refer to mined blocks that become orphaned? |
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416
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Bitcoin / Development & Technical Discussion / Re: How the genesis block triggered
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on: April 22, 2018, 08:42:40 PM
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Besides the answers, you can actually mine your own genesis block, by the same way you mine non-genesis blocks, when you mined your own genesis block, you are essentially creating a new coin and blockchain. You can refer to https://bitcointalk.org/index.php?topic=181981.0 for a simple program on how to mine genesis blocks. Interesting. I'm trying to learn more about the technical side of Bitcoin. So does this mean Satoshi mined the Genesis block? Meaning, did he actually use computing power to mine the Block? Or was the genesis block instamined when the network went live? |
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417
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Bitcoin / Bitcoin Discussion / Re: The primary idea of bitcoin
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on: April 22, 2018, 06:13:47 PM
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Just imagining that satoshi may be too upset by the world paper money policy dominated only by the superpower, satoshi wants all the same as its currency to be no different between countries, and Bitcoin can do it ease transactions between countries without any currency bonds.
This is what leads me to believe that Satoshi will never touch his Bitcoins. He appeared to be totally against the financial regime and capitalism. Bitcoin is very Libertarian, and Satoshi himself owning such a large amount of the supply caused him himself to become what he is against. I do believe he has the private keys still, but I don't believe he will ever move his coins. |
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418
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Bitcoin / Bitcoin Discussion / Re: Bitcoin fees
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on: April 22, 2018, 06:11:07 PM
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If your investment is small then the charge is also a problem. The current fee is $ 34.
Let's me show you an important thing: The hero do not mind a small fee!
$34 is not the current fee anymore. The current Bitcoin fee is closer to .80 cents due to decreased transaction volume and segwit. Segwit adoption is still pretty low too, about 33% on average. As time goes on, the fees and network throughput will continue to improve as segwit adoption continues as well as Schnorr signatures hopefully being implemented in the coming years. |
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419
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Bitcoin / Bitcoin Discussion / Re: Let's face it: The most powerful CryptoCapitalists are the Tether founders
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on: April 22, 2018, 05:47:09 PM
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no one has such a huge influence over the value of cryptocurrencies like the tether founders, people still trust tethercoins like they are actual us dollars.
and tether has bought many altcoins as with tethercoins into their secret reserve portfolio, in order to hedge their postion
if someone truly can upvalue your beloved bitcoin then its the tether founders/owners.
you want to pump bitcoin go to them
they are currently the worlds most powerful cryptocapitalists.
they are even more powerful than so called "institutional" investors like the rockefellers, rothshilds, or soros as they have an image to defend, tether can obviously act as it wants.
this will continue till the us dollar loses trust of its main creditors
-> germany,japan,china the worlds biggest exporters, neglecting the us dollar trade deficit.
when the banks there change mood, things will change for tether
Thank you for the Merit.
This is a very interesting perspective which I haven't put much thought into until now; I would Merit this post if I had any. The tether crew has an undeniable hold on the cryptocurrency space. Just look at the Bitcoin price history and the tether printing history. I do see the U.S Shutting down tether in some way. Tether in a sense has become a secondary federal reserve. Able to print money whenever they please and as many as they would like, should be interesting to see how that CFTC probe turns out. |
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420
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Economy / Speculation / Re: Bitcoin dominance
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on: April 22, 2018, 05:28:26 PM
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Bitcoin dominance has been dropped to 39.2% from 45%, market cap is $382 billion now, are we moving towards another bull run like Dec?
Not surprised to see the BTC dominance decreasing. The current alt market is enterering a bullish and optimistic trend since the BTC price has started an upward movement. Traders are most likely shifting to the altcoin market looking to make some profits given how alts have started their usual pump in their prices and circulating supply, two factors that are currently making the altcoin market cap go up. About the bull run, it's too early to draw any conclusions, but I can tell you this: the rise in the market cap isn't the sign of an another bull run. Yeah, I'd argue its too early to already start another bull run, although it would be nice. I wouldn't be too concerned about Bitcoin losing its dominance, as you said, people are just looking to make a quick buck and pump some alts. Even though Bitcoins dominance is dropping, it still will be number 1. Also, when it comes to Bitcoins dominance, keep in mind there are 1000+ trash coins that are being counted. People in the crypto community always will have faith in Bitcoin as a reserve currency, so it will always remain dominant. Eventually, it will likely get to a point where the world will view it as a reserve currency. |
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