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741  Alternate cryptocurrencies / Altcoin Discussion / Re: Jihan Wu in half a billion in losses after BCash trade on: August 13, 2018, 02:25:32 PM
I just found a very long article in medium:

https://medium.com/@btcWolves/a-bch-update-bitmain-bch-the-ipo-what-it-all-actually-means-354220b86ac3

A must read, very detailed, and has the Samsom Mow screenshot in chinese translated:





Bitmain is in very bad standing and their IPO is to try to dump bags on noobs. I suspect Roger Ver has fucked up big time too, and most people involved in BCash that claimed to sell big portions of his Bitcoin for BCash. The september stress test may be the final nail in the coffin for this altcoin.
742  Alternate cryptocurrencies / Altcoin Discussion / Jihan Wu in half a billion in losses after BCash trade on: August 13, 2018, 01:59:00 PM
Jihan Wu, Bitmain's CEO, known for his support for BCash aka Bitcoin Cash (BCH), in support with Roger Ver, Craig Wright and co, is now up to half a billion losses after his bet. He traded a ton of his BTC to BCash, mistake possibly made due his delusions of grandeur, thinking he had to power to move the market into his agenda's. A big mistake that is going to force him to decide, now that panic is hitting the markets after BCash broke 0.01, he has to either:

1) Dump his position to save whatever he has left: Which will crush BCash even more
2) Continue with the farce trying to prop a failed currency

The current IPO shows desperation mode kicked in.

Read these tweets:

https://twitter.com/real_vijay/status/1028881826331340800

Let this be a testament of what happens when you try to overtake Bitcoin with your forkcoins.
743  Bitcoin / Development & Technical Discussion / Any plans on improving watch only usage in Core? on: August 12, 2018, 07:40:53 PM
I have been testing out watch only addresses in the testnet. In one computer I had a full node synced, I got some testnet coins (because I was too paranoid to do it live) then I got in another computer a node I didn't bother syncing and put the coins there.

I monitored the coins in the synced node in watch only address. Seems to be working. Now im practicing to learn how to sign raw transactions.

We will ever have this nicely integrated in the GUI to minimize screwing up by manually having to input all that stuff? it would be awesome. I believe in the power of using cvars but I would prefer a GUI for this, just a small mistake and you can screw up bigly.

Or perhaps I can do it in the GUI normally (I use the coin control window to select inputs, so doing this manually is hell) and then once I have click "sent", I can get this raw transaction, copy the resulting text and broadcast it in the watch only hot node by pasting it in the console? any tutorials on this?
744  Alternate cryptocurrencies / Altcoin Discussion / 80% BTC dominance by 2022 on: August 12, 2018, 06:27:04 PM
I believe we'll go back to 2022 Bitcoin dominance by 2022.

The next halving should have put us past 6 figures, somewhere from $100,000 to $500,000 (to difficult to know where it will peak before the crash once we get past the 6 figure psychological barrier which is an huge accomplishment.. I predict tons of people getting rekt as they sell at $100,000 and open shorts expecting the price to crash right at $100,000)

By then the fact that most alts are scams should be obvious to even noobs and BTC will go back to the natural 80% balance as per pareto law distribution.

The alternative is there is a possibility we don't quite get past $100,000 and fall right before getting there, which would give us a a year or two of dipping before we actually get past $100,000 which will definitely crush altcoins.
745  Economy / Economics / Re: We Wanted Safer Banks. We Got More Inequality. on: August 12, 2018, 04:00:16 PM
It's unclear what would happen if we replace the current financial system with Bitcoin, because some researches suggest that Bitcoin's wealth distribution is also quite unequal. But I think equality itself is not the goal that society should pursue, instead we should focus on increasing everyone's well-being. If Bitcoin can help people to preserve and increase their wealth, offers better costs than banks for their transactions, offers new business opportunity thanks to being global, then it shouldn't matter if some people have huge amounts of coins.

I agree with the ones that said leftist politics don't really lead to more equality long term, it just becomes an elite extracting resources via taxes to citizens.

But I also agree with your point: I think it's delusional to present Bitcoin as some sort of cure for equality... it's pretty dumb actually. There are positives tho, I can think of two immediate ones:

1) The elites can no longer play around with the total monetary supply at will, we are all under the same rules of 21 million coins no matter if rich or poor.
2) It can bring economic activity in places were money is simply a massive dysfunctional disaster. Exchanging tokens fast and cheap with low risk for goods and services will be possible if LN is a success (even acknowledging limitations of decentralization with LN.. it's still better than some 3rd world nightmare currency, it can easily allow for an economic to grow under it)
3) For now it allows people to have a decentralized digital gold, but as fees go up it will be increasingly problematic for these that cannot afford it
746  Economy / Economics / Re: Silver is loosing ground due to rise of cryptocurrencies on: August 12, 2018, 02:59:24 PM
Please see this:




Silver is another victim of government phantom derivatives trickery. Please convince me that the powers that be aren't manipulating silver with their Futures Contracts and whatnot in order to scare holders and so on.

Do the same exercise of picking up a graph and looking at the peak price vs when the futures were added, you will see it's the same with gold, oil, uranium, and now bitcoin too.

The good news is bitcoin is different, they cannot sustain this forever, only a matter of time Bitcoin breaks the chains from the derivative government scams and we go to $100k+. It could take a couple of years, and this will be the test in which the people that understand the fundamentals get rich and the people that have no fucking clue get out and watch the ones that stay get rich.
747  Economy / Speculation / Re: Big pop up again on: August 12, 2018, 02:39:11 PM
As we approached sub $6k and actually hit $5.9k... we see another huge pump to $6400. Impressive, a $500 dollar move up just like that, on a single candle. Someone bought a pretty decent amount of coins.
the thing about "hitting" a price like this and then rising back up is that you shouldn't just focus on the numbers but also on the how tos.

market is still pretty small and on top of that people aren't trusting exchanges to leave their money there so despite the strong buy support there, a bigger sell can drop the price. which was $5995. it is hard to figure it out now but it was about 200BTC volume on that candle in a 14096BTC daily volume on bitstamp.

Quote
The theory of how that $5k-6k price range is the diamond solid ground in which miners will never let bitcoin go below is shaping up. Governments want to take the price down and tank it so they can buy it all but someone (maybe rich miners and other whales) keep using that range as the reverse point. Let's see if it holds. We have touched this same point so many times that the theory might be right.
maybe it is ALSO miners but i don't think that is all. it is a lot of traders who know $6k as the bottom and buy there.

But as a trader, you perform technical analysis, and if you apply TA, I don't really see $6k anymore as a bottom, unless you believe in what, a quintuple bottom at this point? I mean we were discussing a triple bottom a month ago, now it has bounced back, so quadruple bottom is at play if it keeps going up.

So out of any TA, there must be a fundamental reason for this. The only fundamental analysis I can do towards this solid $6k resistance is the cost-of-mining-1-bitcoin theory, which true or not, becomes a self fulfilling prophecy at this point.
748  Economy / Speculation / Re: I confirm my forecast - $100k by 2019 for 1 BTС on: August 12, 2018, 02:18:51 PM
$100k by 2019 for 1 BTС

Hey! Cheesy
 Now I will write for someone a shocking thought. Back in December 2017, I wrote that by 2019 the price of the first coin would be about 100,000 dollars.
However, at that time there was a "bullish" December.
However, and now I confirm my previous forecast - $ 100,000 (+/- 20,000) in 2019 for 1 BTС

On what month of 2019? I believe there are 12 months the last time I looked at the calendar. Cool

Quote
Now, let me remind you, the price of a Bitcoin equals "only" 6500

Let this message "stay" here. Only 4 months left.
And what do you think about it?
Thank you!
#Bitcoinprice2019

2019 is too early in my opinion. Bitcoin will reach 6 figures only after the halving on May, 2020 but not before. Although we might see a new all time high while approaching it.


I would also bet my money on the next halvening giving us new refined fuel for the rocket to finally reach 6 figures. But when it comes to 2019, we may still be struggling at current levels. We have many forces trying to keep the price down. A cartel of wall street crooks, government-"backed" derivatives and other weapons are being used to keep the price down. They are slowly accumulating as they have understood Bitcoin cannot be shut down, just like they understood they cannot shut down Bittorrent.

Once their tricks run out of steam, the bull pressure will be too big to contain. By the next halving they may have accumulated enough to let it fly plus their phantom derivative bullshit erodes in effect over time.

It is crucial that everyone owns at least 1 BTC for life (never selling) because peaks are impossible to predict, then if you must sell another percentage. Im sure that a lot of people will sell at $100,000 and get fucked because we'll keep going to $250,000 ish as predicted by Tim Drapper for instance.

We must lose a ton of noobs first so im ready for lower prices. I mean even big figures like Tim Drapper could give up, an that would mark the end of the bear market.
749  Economy / Speculation / Re: Does the 2017 crash “feel” different than the 2014 crash? on: August 12, 2018, 01:09:27 AM
If I remember correctly, MtGox was about 80% of the exchange market when the 2014 crash happened.

%87 drop to be precise:



So imagine a %87 drop within a totally clusterfucked fundamental analysis situation. I mean, the worst fundamentals you could come up with:

-Most coins concentrated into the hands of an amateur running an exchange
-Press left and right shitting on bitcoin
-People in power saying it's a scam daily and will die
-Fork wars already brewing in the horizon with gavin and co entering in conflict with the core roadmap
-Any hopes of scaling felt like vaporware (no LN etc)
-Halving years away so not even that bullish force happening anytime soon

It was really worst period on bitcoin by a long shot. Now everything feels way more solid. People panicking clearly don't understand how bad 2013 was, they lack proper perspective.
750  Economy / Speculation / Big pop up again on: August 11, 2018, 05:32:55 PM
As we approached sub $6k and actually hit $5.9k... we see another huge pump to $6400. Impressive, a $500 dollar move up just like that, on a single candle. Someone bought a pretty decent amount of coins.

The theory of how that $5k-6k price range is the diamond solid ground in which miners will never let bitcoin go below is shaping up. Governments want to take the price down and tank it so they can buy it all but someone (maybe rich miners and other whales) keep using that range as the reverse point. Let's see if it holds. We have touched this same point so many times that the theory might be right.
751  Economy / Economics / Re: Whether Getting Married At a Young Age Can Lead To Poverty And Make Poor Economy on: August 11, 2018, 05:13:02 PM
One of the most obvious use cases for Bitcoin already is saving many men from women that don't deserve getting half of their wealth, coupled with lifetime alimony and other inconveniences (see: golddiggers).

Having your money anywhere else but Bitcoin will result in a net loss, whereas Bitcoin will keep your ass safe from getting financially raped after being emotionally raped as well by a woman of low morale.

Just another reason to hold your coins and never sell.
752  Economy / Speculation / Re: GAME OVER Bitcoin on: August 11, 2018, 04:25:31 PM
Why is the ETFs the end game for Bitcoin? I don't think so there is still a lot of things to process on the legislation side, BTC up to know still needs a law outside from the regulations and permissions of the SEC. If you are thinking about it clearly we still have other news to think about and it is not all about the ETF hype. Remember a much more important news for Bitcoin is when it clearly has a law backing it and if all countries have one then institutional investors are the ones who will personally be buying them.

All the noobs that think ETFs and all these other phantom derivative scams that the governments use in order to suppress the price at their own gain (while they stockpile BTC from said noobs hands for the future) are essential for BTC's future need to be weeded out. Once they are all out and only the smart are holding BTC, we will not have these sell offs.

Im starting to believe we may be going back to $2500 ish, this will be a good support line from TA and also psychological perspective in which noobs and mainstream media will say "Bitcoin is dead" all over the place, we need another "Bitcoin is dead" cycle, until then we have a bunch of morons on our team that we do not want to be part for the long term victory.
753  Economy / Speculation / Re: BAKKT: Road to $100,000+ starts in november? on: August 11, 2018, 03:59:01 PM
We don't know how effective the futures are on this market. After the peak in 2013 there was a perfectly similar correction dragging the market down for quite a long period of time, especially for crypto standards, and that without futures. We need at least a year or two to see the real effect of these futures markets, and eventually I do believe that they will heavily weigh on Bitcoin's market with how institutions will gain an upper hand.

I think right now it's safe to say that those dealing with futures are just as afraid as most people here are. In other words, futures traders are afraid of Bitcoin manipulation, and Bitcoiners are afraid of futures traders manipulation.

It's all too much of a coincidence to me. I mean the price had to crash eventually, but it turns out it basically started around exactly when CME launched the futures... it could have been exactly the same without the futures launch and $20k was the legit, organic peak for that run, or perhaps it was just getting started and they cut it... who knows? we can never know since there is only one timeline that we can perceive at least.

I have no doubts that the theory weights at least some value. I mean look at the charts, how come these other assets also peaked right when the CME launched their futures? looks like manipulation to me. They keep these assets low while they keep fiat-friendly stocks and bonds up. Our job is to amass as much BTC as possible during this bear market as noobs get kicked out by them, we must be ready because next time it starts rising it will dwarf previous highs and they will not be able to control it anymore. Real money always win in the long term. Bitcoin, gold, silver, all good to go, but biggest massive gains on BTC obviously.
754  Economy / Speculation / Re: BTC Dominance on: August 11, 2018, 01:49:45 PM
In my opinion the only reason we saw such a massive divergence from the normal (normal being: 80% average Bitcoin dominance, naturally, as most alts are scams) was due the big ass Ethereum bubble. Just look at the chart in here:

https://coinmarketcap.com/charts/#dominance-percentage

So when Ethereum pumped hard and took a big chunk off Bitcoin's dominance, mostly noobs, thought: "Oh wow, the flippening might actually happen". Which lead some other noobs to believe "if Ethereum can do this then there must be other altcoins that will pump too and defeat Bitcoin". This started the infamous chain reaction which made BTC dominance go as low as %33.

I think people are slowly catching up to the fact altcoins are basically scams designed to steal them their Bitcoin. Of course I believe some altcoins have some value and are doing some interesting useful research, but there's a big difference from that to pitching it as "the next Bitcoin", screaming "flippening" and so on, that's just criminal.
755  Economy / Speculation / Re: BAKKT: Road to $100,000+ starts in november? on: August 11, 2018, 01:18:30 PM
It's known that the government-wall street faction has been doing good business (as in, manipulating the hell out of assets) for years now with massive shorts. Gold, uranium, silver.. you name it.







And of course, Bitcoin was no different:



However, if they are smart enough, they should know that this beast is only tameable in the short-medium term, and in the long term they'll fuck up badly if they haven't been hoarding as much BTC as possible. They can enjoy the manipulative techniques while they remain effective. It's up to people if they want to feed them their BTC or not.
756  Economy / Speculation / Re: BAKKT: Road to $100,000+ starts in november? on: August 10, 2018, 05:22:41 PM
Price of mining one BTC is different from country to country, of course it depends on the price of electricity. For example by research from Elitefixtures-Bitcoin Mining Costs Throughout the World it will cost you only 531$ to mine 1 BTC in Venezuela, but it will cost you over 26 000$ to do same thing in South Korea. Since most of big mining farms are in China, is a very important thing to say that cost of mining 1BTC there is only slightly higher then 3000$.

So by this data ( if they are accurate ), it would be profitable for miners even if price is drop under 4000$, what we hope will not happen.

In Venezuela the electricity might be dirt cheap, but there is no way you can have larger miners settle there as they would literally drain that country in a matter of days. To add; the electricity infrastructure there is horrible. In several parts of the country there are massive outages where it could take hours and hours before you see it come back, and then it's literally hoping that it won't disappear again, which it obviously will.

The thing with mining is that the more blocks you scoop up, the lower your cost per minted Bitcoin is. I wouldn't be surprised if Bitmain's pools can profitably mine even at $2000 because as always, the smaller miners will leave first and Bitmain's share will then only increase. More network share = more blocks for you.

China is most likely the place to pay attention to since most mining rewards to there anyway due the massive hashrate monopoly in there so I guess the global average must be around $4000.

But like you said Bitmain may find a deeper gap, however they cannot exploit this indefinitely... it may be a risk taking advantage of that. As smaller miners go, if Bitmain tries to get this gap that smaller mines leave, their dominance may be too high and 51% may kick in which means price dumping so it could end up in losses.

They have to leverage that. I think they will not try anything stupid. So most likely $4000 to $5000 should be the solid miner cost bottom taking as valid the data we have.
757  Bitcoin / Development & Technical Discussion / Re: Why can Core not Scale at a 0.X% for blocksize in the S-Curve f(X) on: August 10, 2018, 04:32:47 PM
Im up for discussing the game theory involved in the different proposals and im not discouraging you to continue working on it and hope we can finally see the code eventually.

But nonetheless we've discussed Richard Heart's claims on blocksize and blocktime. You said he was a "bitcoin as digital gold" charlatan and to be ignored.

I claim that this is a mistake. Most "bitcoin as digital gold" guys are the biggest whales in Bitcoin, in other words, these are the main guys you must convince since in any hardfork people vote with their coins at the end of the day.

My point is that the "bitcoin as digital gold" guys are not going to give you an inch of space for the tradeoffs involved in your proposal. They are usually extremely conservative and consider Bitcoin good enough for their needs and don't care if the rest cannot afford transactions or if it's too slow or whatnot.

So yeah, don't ignore their opinion or your hardfork will get dumped hard.
758  Other / Meta / Re: Is bitcointalk being flooded with bots? on: August 10, 2018, 04:20:36 PM
Thinks are much better now than in the past actually. If you have been here for a couple of years you should know about the infamous FUD bot in the speculation section, and im not talking about kwukduck and his alts, but an actual bot of sorts, which registered new accounts with random gibberish nicknames, and copy-pasted a FUD text and created new threads pretty much every 5 minutes or even less. All we could do is report it.

I think this incident is what finally led theymos to go as far as forcing us to enable javascript for the captcha... so you win some and lose something else.

My point is there is always a tradeoff and we cannot afford more tradeoffs since it would kill any hopes of privacy in here. Even if you added SMS verification, Tor and VPN banned etc, you would still get spammers, look at Twitter.
759  Other / Meta / Re: Suggestions to lessen spam accounts on: August 10, 2018, 02:53:09 PM
1. Closing registration is unfair for these that do want to post coherent stuff.

2. Limiting account registration per day will mean that the spammers take all the free daily spots before the normal guys.

3. Same, every spammer and their botnets will be lined up to get all the spots while the average normal poster will be left behind.

4. Look at 3)

So that's basically it. There is no easy way to stop spammers, that's the truth. Just look at the twitter case: It's getting filled with bots daily. They try to scam noobs into fake giveaways by posing as famous crypto-related people. I think they are even trying to fake Trump accounts to do it.

Even Elon Musk joined the discussion since they were faking his name too to do giveaways:

https://www.independent.co.uk/life-style/gadgets-and-tech/news/twitter-scam-elon-musk-cryptocurrency-ethereum-fake-accounts-latest-a8439176.html

Notice that creating accounts in twitter is MUCH harder than creating accounts in here. Twitter has 0 privacy: They have banned tor of course, they have banned every VPN under the sun, they will ALWAYS ask for an SMS verification these days. Yet, botnets with thousands of accounts are created daily. Scammers always find a way.
760  Bitcoin / Development & Technical Discussion / Re: Bitcoin ATM Malware Found For Sale In The Dark Web! on: August 10, 2018, 02:01:14 PM
What do you think about it? Everything can be hacked?

Everything can be hacked. It is just a matter of time and effort used to attack it.
As long as there vulnerabilities which can be found, there also will be black hats who are trying to find an exploit them.

ATM's (whether crypto or fiat) always has been a lucrative goal. These are basically money storing machines.



And is it only the matter of time when we see the news that XYZ hardware wallet has been hacked or sth like that?

Probably yes. I am sure that there are a lot of vulnerabilities in all wallets which just havn't been found yet.

The good thing about hardware wallets is that an attacker would need the device AND a vulnerability + exploit to steal funds.
Thats a big advantage compared to a desktop-/mobile- or web wallet, where a simple malware would be enough to steal your funds.

Is the software for these ATM machines open source and in github somewhere?

I wouldn't trust these machines at all, they are probably keeping a log of all the movements and handling them to authorities to get your ass in trouble. And even if im against anything morally wrong like using malware to steal people's funds, it would be pretty stupid to use this malware anyway. These ATM machines are usually in malls, airports and other places literally filled with hidden cameras everywhere. Chances are whoever goes there to install the malware will get caught (assuming this cannot be deployed online somehow).
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