Bitcoin is death threads coming up, good sign.
Indeed. Anyone remembers the PhD economist Nobel Prize super expert calling an under $10 bitcoin back in 2013?  He failed so much that he became a meme, now know as "professor bitcorn." This is what happens when you call bottoms, you can be wrong and then miss having a position for the next bull run. If the bottom was $7500, the people expecting way cheaper prices will be left out for the next bull run which could peak anywhere from $50k to $100k as people realize that the bottom was a long time ago and they FOMO back in. This is how bitcoin grows, I've been seeing it since day 1. |
|
|
|
Lightning network addresses transaction/scalability issues to an extent, but still has many open questions.
Of course, but it's looking good, the mainnet is working fine, we are on the early days, if you want to get rich you can't get in when everything is clear, no risk no reward. Why on earth would any portion of gold investment go into bitcoin to have it as a store of value when its value can drop by 20% or more in just a day? How is that storing value? Ask the people who bought at $15k+ how that is working out for them as a store of value. For something to be a store of value it should have a very long history of doing so, being physical is a big plus, it should have intrinsic value, and it should be very non-volatile. Bitcoin has none of these properties. Ehh, because gold is a failure as a store of wealth, as it can be confiscated with a simple law, namely:  All the government needs to do is to pass this law once again, then you are stuck with an useless piece of metal, which you will never be able to move across borders, and believe me, the government will find your gold if you attempt to hide in your backyard. With bitcoin, you can store it and move it around seamlessly, this makes it worth $trillions alone, the world just has to catch up to this fact. Altcoins give bitcoin competition and inflate the entire crypto space, thus pushing down the price of all cryptocurrencies, bitcoin most of all (since it is the current market leader). The more alt coins that get created, the more competition there is and the more spread out crypto investments become. Altcoins are scams, the market has yet to realize this, once it realizes this, all the money in scams will go to bitcoin. Until then and while it's profitable, speculating with altcoins (to sell them for more bitcoins) will continue. Bitcoin does not keep people's wealth safe. It puts it in extreme danger by exposing it to insane volatility, and potential inability to liquidate. If exchanges were banned, even if you had offline coins you could never liquidate them. Yes it does. Nobody can steal your bitcoins, nobody can counterfeit it, gold can. Volatility against fiat is irrelevant, in the long term you are only going up. All big trades happen OTC, no need for exchanges which are all scams. Also it's impossible to ban all exchanges since there are tons and sitting on different jurisdictions. Yes please let's revisit this post.
Indeed we will. |
|
|
|
This is horrible advice. What logic suggests that bitcoin will ever set a new all time high again? Why do you think it's not a problem that bitcoin is not scalable and therefore can never become a universal currency? Why is it not a problem that transaction fees are absurdly high and take a long time? What about the fact that governments are cracking down and companies are banning crypto-related services and ads?
And most of all, what about the fact that there is now much greater competition among alt coins than there ever was in the past, making the crypto space infinitely inflationary? Why are none of these things an issue? Any one of these is enough reason for bitcoin to never reach its previous highs again. Honestly this decline is more than warranted. It should continue for quite a while and I don't see any reason to think it will ever recover. This is very different from in the past for all of the reasons I mentioned above.
For the record, I owned bitcoin for years and sold my last remaining btc at $17,700.
Agree. First of all bitcoin simply can't replicate the 9000% gains it's had in the past. It would require billions entering bitcoin to achieve that.Secondly, it's a red flag that merchants are dumping bitcoin, but enabling alts. It means that the network effect is switching from bitcoin towards alts. It wouldn't be that hard and far fetched for billions to enter bitcoin in the future if you consider the insane amount of money out there: https://money.visualcapitalist.com/worlds-money-markets-one-visualization-2017/Considering the huge capital sitting on completely nonsensical assets like most bonds which will not make it long term, many companies which will stop giving out dividends, or who knows if the S&P500 will get an huge correction in the coming 2 years, plus the always underperforming gold lately... there's many, many billions that are going to end up in Bitcoin eventually, and when that happens the gains we will see will make it go parabolic dwarfing previous events. |
|
|
|
This is looking great. Looks like the classic recovery pattern, bounced right at the 200 day moving average and it's looking healthy. Im looking forward to see a battle for the $10k+ again. These type of corrections are very healthy, because when we go further, we will not be paranoid about never having re-touched former support lines, in this case we confirmed the long term line that touched $7500 which coincided with the 200 day moving average, which is why im very bullish now (and will be even more once we can stay above $10k for a while), coupled with the good fundamentals: lightning network has now more than 400 nodes on mainnet, and 1000+ channels: https://lnmainnet.gaben.win/Things are moving in a positive direction, don't get confused by the FUDed price. |
|
|
|
In general, I empty the disk, then fill it with random data. That makes any restore virtually impossible. It could be some re-mapped sectors still contain data, but I'm not sure (and don't worry about it). True, worrying about your private keys being recoverable after fully wiping an SSD is probably too much paranoia... but then again, is there such a thing anymore? there are exploits and bad people everywhere trying to ruin your life. Maybe there is an expert here in this field that could calculate what are the chances that sensitive data is left inside an SSD after fully wiping it.
If at all possible, put the chainstate-directory on a small SSD (you can symlink it). That made it much faster on my desktop.
I think I talked to achow101 once about symlinks and the idea of separate chainstate folder in an SSD to make it go faster. The general consensus was that this is not a good idea at all, and you must have all of your Bitcoin Core files within the same folder (therefore same HDD). |
|
|
|
|
Looks like there's a lot of hardware wallet users that still haven't realized you don't need your vendor to update their firmware into supporting shitcoins.
If you get a hardware wallet and the developers of the product actually care about getting your coins safe, they would have a platform that's as minimalist as possible, ideally supporting only bitcoin. Having multiple coins in there, specially multiple forks, only raises the possibility of exploits.
If you want to access the forks which is understandable since it's free money, you can just move your coins into other BTC addresses, then import the now empty private keys in the fork's wallet and there you go. Just don't ask hardware wallet developers to add endless forks because it defeats the purpose.
|
|
|
|
It's stupid to use Bitcoin related stuff in Windows, or any other closed source OS period. You are basically trusting that there's not spying code in the closed source code, which defeats the purpose of crypto (don't trust, verify). Also forget about Ubuntu in old machines, try Xubuntu or Lubuntu if your computer is really old (Lubuntu uses considerably less memory usage). You can even run it in old Pentium machines just fine. It's simple and slick looking: https://www.youtube.com/watch?v=tn9PnOuwrnA |
|
|
|
Trying to recover BCH sent to BTC segwit. Being asked for Xpub for a specific address. I exported the Xpub per instructions, but the response is that the xpub is wrong.
I suspect i am exporting the Xpub for the wrong address since they change.
Is there a way to find the Xpub for a specific address on Ledger nano?
Feeling stupid!
Find the HD Public key for your wallets: Open the Ledger Wallet Chrome bitcoin app Click your account in the overview, it’s called “My account” by default Click “Account Settings” in the top right corner, under the balance Click “Export” next to “Extended public key” And when you see the QR code pop, you’re ready to begin the next part. You can test the address by going to: https://blockchain.info/xpub/123XYZ where 123XYZ is your public key. You should see your transactions and balance. source: https://keepingstock.net/storing-your-cryptocoins-in-a-bank-with-a-ledger-wallet-52d7895b9ddFrom what wallet did you send BCH to a segwit address? it is a nested or bech32 address? I find it weird that a BCH wallet would allow you to send coins to a segwit format address, unless I misunderstood your post. |
|
|
|
The documentation in the bitcoin.org site only talks about Ubuntu but no other distros.
It's all Ubuntu-based, so it shouldn't be a problem. I would like to start a new node in some old computer I got, but the problem is, Ubuntu uses GNOME which is too much of a bloatware for my taste and specially for my older computer. Can I go off-topic and think out of the box? I prefer Linux Mint over Lubunu and Xubuntu. I've tried them all many times. I use Linux Mint on an old netbook with 1 GB RAM. it's still running Mint 17.3 (supported until April next year), and it works fine. I've used Bitcoin Core (pruned) on it for a long time, but stopped using it because it syncs too slow. If you keep it on continuously as a node, that shouldn't be a problem. I did install a SSD, but RAM and CPU are quite limited. I just tested it: Progress syncing Bitcoin Core: 0.09% per hour. You say Gnome is too bloated, but have you tried Clearlooks? I once again have a blue bar on top of my active Window (like Windows 95), my Window Manager is Makro + Compositing (instead of the bloated Compiz), I disabled all animations and 3D effects, and it feels less bloated. Mint looks nice but I like the minimalist approach of Xubuntu, Lubuntu is probably overkill (too minimalist). I plan on running a full node (non pruned) so im going to go for high capacity HDD because SSD's of 2TB+ are still too expensive. Also im paranoid that if I ever need to sell an SSD, I don't manage to fully wipe it and some Bitcoin stuff would remain, I heard SSD is harder to wipe than HDD and I want to sell them eventually. How long did it took to verify the blockchain when you opened Core? I will be using 8 GB of RAM, the CPU is pretty old tho, around 2008 but should do. It will need to verify the full blockchain as it's not pruned and it's HDD.. might take a while but I guess no longer than 5 minutes. The modern Core versions verify really fast. Clearlooks looks nice but I think GNOME will still be more resource consuming even if you make it look simpler, Xfce and specially LXDE are lighter. |
|
|
|
in my experience of past 4 years the "pessimistic bottom callers" are bulls who want to buy at a little lower price to make profit from the rise. almost everyone of these bullshitters who has said for example "price will fall to $6000" had their buy orders placed at $9999 and wanted to make profit from the rise back to $11k-14k. those "pessimistic bottom callers" are now fucked  which is why we don't see any of them making any noise right now. Yes, typically people that call bottoms have their orders set higher than what they are calling. We now saw the "bottom is $7500" prediction come true, but of course, it didn't go as low as $7500, it went at $7650 Bitstamp, and $7960 Bitfinex. Notice how it QUICKLY pumped the closer we went to $7500, since the closer we got, the higher chances of missing buying that ideal entry point. Now FOMO is going to kick in and we are going to be at $10k within hours. $7500 was a way stronger support than $10k. So out of any unlucky news with further FOMOing, we are going higher from now on. We need to break $10k once again and sustain it for a while to regain confidence If $7500 falls it's going to be a big fail for a lot of reputed traders like Vays. Im going to give them a chance and I personally always bet at $7500 as the strongest recovery point and so far the market has panicked upwards. |
|
|
|
$10,000 is the ultimate bottom.
..... price tanks below that level.
$9500 seem to be a level with major market support.
..... price tanks below that level.
$9000 is the real bottom, analysis shows.
..... price tanks below that level.
$8000 is going to be it for real, because this or that line has not been broken before.
..... price tanks below that level.
$7500 is the next support level.
..... people, just give it up already, there is no support and analysis proves to be worthless time on time again. The market stops when it wants to stop.
Where I more or less agree with your analysis... for what is worth, Tone Vays has been calling a $7500 bottom for a while, and looks like it bounced back from almost $7500 ($7653, Bitstamp prices). As we know, predictions aren't exact, but I would say that was pretty spot on, of course, assuming it stops there. The $7500 prediction follows a very long trend line:  If we lose this... get ready for further crashing. But look at the positive side: at this point it's getting irrational on the bear side, there are no real reason to be panic selling past $7500, which means it's time to get some cheap coins. |
|
|
|
Not work on me, and its said if the website is down. Already try on different browser but still has same problem (already try use opera and chrome). Or its really just a maintenance or something?
-snip-
Not sure what you're doing wrong but it is displaying bech32 addresses perfectly fine for me on Chrome: LINKI just try it on phone and it work normally and showing the address. Idk looks like is down before but now i can access it and show the bech32 address Edit : now its normal on my laptop Looks like right when I found this trick, they added official support now, or at least im showing the bech32 addresses and im not enabling the advanced view mode thing next to the txid. Well at least I discovered it shows spents and unspent outputs if you enable that, which is useful. But notice that if you try to click on the addresses, they will not show up. If you want to do that, you'll have to use another explorer, for example: btc.com/92785a57f6e9e9eb9d37a00e6e8be7f888376f65fa2b8f868db261cbf6cca7b0 |
|
|
|
This is horrible advice. What logic suggests that bitcoin will ever set a new all time high again? Why do you think it's not a problem that bitcoin is not scalable and therefore can never become a universal currency? Why is it not a problem that transaction fees are absurdly high and take a long time? What about the fact that governments are cracking down and companies are banning crypto-related services and ads?
And most of all, what about the fact that there is now much greater competition among alt coins than there ever was in the past, making the crypto space infinitely inflationary? Why are none of these things an issue? Any one of these is enough reason for bitcoin to never reach its previous highs again. Honestly this decline is more than warranted. It should continue for quite a while and I don't see any reason to think it will ever recover. This is very different from in the past for all of the reasons I mentioned above.
For the record, I owned bitcoin for years and sold my last remaining btc at $17,700.
The scaling problems are being addressed with new research on signature formats and second layer solutions, not to mention that for BTC to reach $100,000+ it would only require a small % of capital allocated in gold to get into bitcoin, so solely as a store of value, ignoring the fee problems, BTC has a potential of 6 figures. Anyone that got into Bitcoin thinking that governments wouldn't attack it is delusional, crypto-related services and ICO scams being advertised are irrelevant for Bitcoin's rise. Altcoins do not inflate Bitcoin, Bitcoin still has a 21 million coin limit supply. Bitcoin will reach a new all time high, either as an underground stoppable store of value alone keeping people's wealth safe from corrupt governments, or as a successful currency via second layers as well. We will revisit your post once we reach ATH. |
|
|
|
|
Very common in speculative volatile markets like crypto, is to see how people become overly pessimistic once certain resistances are broken.
We have broken the January 17th bottom of low $9000, so people expect further crashing due the double bottom+recovery scenario being ruled out... now this is when people start calling wild lower bottoms, and now it's also when Bitcoin crushes the overly pessimistic shorts by deciding to start crawling back up at least expect price.
If you have held this long all the way down $20,000, just keep holding. For anyone that held from $1200 to $150 in the MtGox crash the current crash is another day in the office. So don't make the mistake of being overly pessimistic or you'll end up selling at the bottom. It's the same as being overly optimistic and buying at the peak. Keep a hold head and a strong hand, the fundamentals are good. Lightning is here. I claim we'll see Steam accepting Bitcoin payments again through LN and this will mark the start of mainstream LN adoption. Give it a few months and buy while the noobs start thinking once again that Bitcoin is dead.
|
|
|
|
I want to transfer my BTC from one address to another (both are mine), how do I avoid paying the transaction fee?
You can move your private key from one wallet into a different wallet by exporting and importing it, but what you want is to move funds from two different private keys. Even if you own both private keys, as far as I know this is impossible outside of a transaction (with it's required fee), otherwise it would break bitcoin, as people would be able to move funds around without paying the miners. It is impossible to transfer BTC from one address to another without paying fees, that too now the fees being too high even if you need to transfer small amounts you need to pay high fees larger than amount you are transferring. If you have two of the accounts in coinbase exchange you can do it literally for free by just inserting the mail id. If there was no fees, people would just spam bitcoin transaction  I think lightning network will help us out by minimizing the fees to large extent and making it free of cost for paying only once in the beginning and in the end while withdrawing funds by setting up a payment channel. Hope LN strikes soon.  Even with LN you will still need to pay a fee to fill the channel with coins, and the LN fee which is minimal. Actually I learned that it can be negative and you can make some money while sending an LN transaction. Theoretically, there IS a way to avoid paying fees. This is achieved simply by not including a miner's fee in your transaction. You'd be extremely unlikely to ever get it confirmed though, unless you intervene by somehow getting it submitted to a miner to include it. Deliberately sending low or zero fees is not good behaviour though. Just learn to pay what you need to.
I wonder when was the last time that a 0 fee transaction was ever mined successfully? This would be an interesting stat to know. I guess after 2012 it was just impossible, probably earlier. |
|
|
|
|
I would like to start a new node in some old computer I got, but the problem is, Ubuntu uses GNOME which is too much of a bloatware for my taste and specially for my older computer.
The documentation in the bitcoin.org site only talks about Ubuntu but no other distros.
Can I assume that since Lubuntu and Xunbutu are Ubuntu based distros it will compile and run nicely? I would like confirmation from someone that has actually run it successfully in either distros before I bother installing either.
|
|
|
|
bitcoin is not creating money at home. money is FIAT (government legal tender)
bitcoin and crypto's are currency, which can be anything. yes even cigarettes/food in prisons are a currency. and yes so is wheat
wheat is a commodity currency (raw material used to create other products(bread))
bitcoin is an asset currency(property that holds value based on market supply demand)
money is a fiat/forex currency(legal tender controlled/regulated by governments/banks of the country laws are linked to that fiat)
bitcoin is like farmers growing wheat or making computers with a quota of only producing 12.6btc every ~10 minutes to a ultimate max production of 21million of them ever.
governments for decades, even before bitcoin have laws inplace with banks that banks should only offer services for fiat. and as such banks will not create a bitcoin ATM themselves or directly offer bitcoin purchases. but for moral/honest customers/partners banks dont care if those customers/partners offer bitcoin trades/services.
the issues many banks have is not the currency itself. but scammers.
facebook even stopped its 'suggested advert' of bitcoin/crypto schemes because of the amount of fake sites that dont actually offer customers real bitcoin holdings.
banks also have found scammers buying bitcoin and then FAKING that the scammer itself had been scammed to get a chargeback, so many honest exchanges and well known honest OTC traders have had red flags put on their accounts because of chargeback scammers. which is the real reason banks do not tolerate bitcoin trades, because they see the high risk of a chargeback/fund reversal due to scammers abusing the chargeback facility.
banks do not lose out on any economic impact of bitcoin. because bitcoin does not economically impact fiat.
when a bitcoin is bought. fiat is NOT burned/destroyed. instead fiat moves from the buyers account to the sellers account. which is the same as someone selling wheat or a computer. fiat just changes hands and makes no impact to the economy
moral/honest bitcoin trading does not affect peoples lives. but scammers/false investment schemes where banking customers lose out or where banks apply red flags to users because they dont realise/cant prove the scammer is not the victim but the perpetrator
I believe bitcoin has an impact on fiat. The more fiat that is allocated in bitcoin, the less fiat that's out there. Sure, governments can print more fiat, but this comes with a price: devaluation of the currency: angry people, riots etc. At some point it would be chaotic. I don't think you can't just claim fiat moving into bitcoin is irrelevant. It may be irrelevant at current valuations because it's tiny, but if trillions moved into BTC, it would have an impact on fiat, since fiat is tightly connected to government decisions and governments would take decisions therefore as a result BTC has impacted fiat's development. |
|
|
|
|
I got hyped out at this, turn out we aren't going to be seeing a clash of Bitmain vs Samsung anytime soon. I think if I understood the news correctly, that Samsung isn't going to be competing as a mining brand.
There are lot of clickbait articles out there that were misleading people making them thinking Samsung will not be manufacturing their own ASICS but it's something else.
|
|
|
|
The Tether FUD is very strong as we can see, and it's having an impact on the price. Even if we crossed the $10,000 psychological barrier, it refuses to dip further tho. Analysists such as Tone Vays claimed that if we got below the $10,000 price we would crash to $7,500 and then start rebounding, but he has been wrong a lot of times, and it wouldn't be the first time we see a double bottom with a price recovery in Bitcoin so I wouldn't be too sure to simply short it to $7,500.. just hodl.
We’re below $10k right now. it's at $10,019 right now in Bistamp prices. It just keeps going up and down on that $10,000 line: The market is still undecided, it doesn't know if this should be the bottom and therefore the recovery, or just the beginning of the download to lower resistance lances. And before I posted this, It went to $9999, and now at $10,000.43...  We will keep flirting on this line until it's decided. Anything can happen. Just because it was crossed, doesn't mean the dips is guaranteed. |
|
|
|
|
Show Posts
