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October 17, 2019, 06:55:36 AM *
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781  Economy / Economics / Re: Listing of coins before ICO ends- "The implications " on: August 07, 2018, 03:35:40 PM
It doesn't really matter. If the fundamentals aren't good (and chances are, they aren't, just like most ICOs) then the exit scam is pretty much guaranteed. And if it's not a proper exit scam, it will just organically dump to the ground.

Just look at things like Bancor. One of the biggest ICOs in history. Would it have been any different had they released the token to be traded in a decentralized exchange? I don't think so. Or in fact it could have gone even better due not a massive bear pressure from all the ICO investors dumping on the market at once. Maybe it's actually a good idea to have ICO prices competing with the market to balance things out, so people can choose to either buy at market prices or ICO prices.
782  Economy / Economics / Re: USA/China Trade War and Crypto on: August 07, 2018, 03:25:58 PM
If by cryptocurrencies you mean altcoins then yes, they are not safe havens and are high risk, but with Bitcoin eventually it will not be that much of an high risk, and more of a safe haven. These things take time, to flip the switch on people's mind and realize this is a fact because Bitcoin is the only neutral asset to nation state's conflicts.
Yeah but these normal measly people(non bitcoiners Tongue) don't know that. US people are afraid of bitcoin, and why you ask? Its because they think bitcoin will take over the dollar.  Roll Eyes


Most people have literally no money. So we just need to convince the big whales that diversifying their portfolio on Bitcoin, even with 1%, will be a good idea. With just 1 to 5% of the top 1000 fortunes on Bitcoin, the price would be really high, I haven't done the math but I think it's all it takes to go $500,000 to $1,000,000:



If you sum the top 2 tiers you get 220 trillion USD (the purple top) so we need that this top goes 10% on BTC and we would get a 20 trillion marketcap in other words $1,000,000 per coin. I think this is doable in the next decade or so.

Also if you keep track of these charts you'll see that the rich just keep getting richer so the incentive for them to diversify in Bitcoin will grow too.
783  Economy / Economics / Re: USA/China Trade War and Crypto on: August 06, 2018, 06:50:08 PM
I do not expect it to be a trade war between the United States and China, but a power struggle to prove who stands up for the last moment.

If we assume that it is a trade war, the direct impact will be on the stock markets: starting with technology companies, the automobile sector and other related economies between the two countries.

The impact on digital currencies will be indirect because people are afraid of economic shocks, so they will resort to other means to save the capital from gold, silver, and cryptos.

cryptocurrencies are not a safe haven but high-risk investments, so I do not expect many investors to resort to it.


If by cryptocurrencies you mean altcoins then yes, they are not safe havens and are high risk, but with Bitcoin eventually it will not be that much of an high risk, and more of a safe haven. These things take time, to flip the switch on people's mind and realize this is a fact because Bitcoin is the only neutral asset to nation state's conflicts.

The ones that realize this first are the ones taking the highest risk and will naturally reap the biggest rewards long term.

If an US/China conflict doesn't make BTC shine now, it eventually will. Again it's just a matter of time.

As far as the trade war goes, Trump's massive ego guarantees that it's going to remain a tense situation.
784  Economy / Speculation / Re: BAKKT: Road to $100,000+ starts in november? on: August 06, 2018, 06:38:30 PM
Nope. We'll remain below $10,000 for the rest of the year. We are dealing with plenty of bagholders and floating coins that need to be bought up. In other words, there is too much selling pressure, and more selling pressure will pop up once bagholders are tempted to sell.

On paper everything around BAKKT sounds great, but we can't just assume that it will even remotely dent the market without seeing them put their words to work.

We have been bombarded with good news that theoretically could do this or that to Bitcoin's price in a positive manner, but everything the mainstream media hypes up is doomed to fail. Interesting counter point is that the mainstream media isn't at all convinced of an ETF approval, which gives me a little bit more believe in a positive outcome.

Not all bagholders are stupid enough to sell. A lot of people that got in at the peak of MtGox got in for the long term, they understood they were potentially buying the peak, but at the same time, when Bitcoin goes parabolic sky is the limit and nobody knows if you are buying at a good time or not. Sometimes it's good to take a chance because maybe it crashes above your entry point.

So all these people that bought at the $1300 peak in 2013 and held for a couple of years are obviously very well off these days and happy to keep holding.

I certainly believe we have a ton of short term speculators that still need to sell because they have no idea about what Bitcoin is and aren't going to hold long term but I don't believe in this notion of having a massive amount of bagholders vs long term holders. Anyone that bought at the 2013 peak is now going to continue holding because they know they are safe and their entry points will not be challenged. Eventually buyers in 2017 peak will be one of these too. On a long enough timeline holders will defeat sellers as it becomes obvious the only asset you can claim to own is Bitcoin and everything else is subject to risk of counterfeit.
785  Economy / Gambling discussion / Re: UFC 227: Dillashaw vs Garbrandt 2 Info and Prediction Thread on: August 06, 2018, 03:56:12 PM
Wtf was that?  I was expecting more from Garbrandt.  He was just a sitting duck out there.  It was almost like he just gave up at the last minute and just went with it win or lose.  He wasn't really there...

He did exactly the same mistake as he did against Dillashaw on the first fight... you could tell his emotions got him carried away when he didn't touch gloves. He wasn't thinking straight. He failed to capitalize on the damage he did to Dillasaw with a couple of good shots.

I can't believe this guy slapped around none other than Dominic Cruz, he did great there, but he is just unable to deal with TJ. There will be no rematch anymore after two losses, it must suck as a fighter to know that you can't have another shot at the guy that beat you twice. It's a long steep road now for Garbrandt if he wants to be a main card fighter again.
786  Economy / Speculation / BAKKT: Road to $100,000+ starts in november? on: August 06, 2018, 03:40:36 PM








This is big, very big, similar to an ETF approved. You will be able to buy Bitcoin easily, all the computer illiterate boomers that just can't get their heads around downloading a wallet and securing the coins, will be able to get Bitcoin exposure. And they seem to be serious: No shitcoins, only Bitcoin.

While the fact that Bitcoin is owning your private keys and nothing else, I don't mind if computer illiterates with a ton of money to spend use these other ways to get exposure to Bitcoin on their portfolios since we will benefit from it price wise.

I believe we will finally start seeing solid upwards traction after the summer or a bit earlier.
787  Alternate cryptocurrencies / Altcoin Discussion / Re: What is your strategy for hodling or selling? on: August 06, 2018, 03:35:46 PM
I wonít really say Iím an investor but my strategy is very simple and plain

I sell the huge pumps and buy te dumps
In other words, but the rumour and when the news comes around. Do ensure to sell the news and take in your profit


The problem is you may be thinking an huge pump is over, then you sell, and it goes %100 from there. This happened to many people that sold at around $7500, which was the expect best possible scenario in 2017 by some traders with big followings like Tone Vays. Needless to say these people now hate themselves since they missed the peak to $20k.

Of course this is all very difficult to time. You just can't know where the limit of a bubble is, it is a gamble, so I don't see why you necessarily have to sell, just sit through it, and you will also save a ton fo tax-related headaches.

If with Bitcoin timing peaks is a bubble, imagine with altcoins, it is a total casino. So stick to Bitcoin and buy the dips. Even if it goes lower that where you buy at, you know you will not be holding a deprecating bag, contrary to what happens with 99% of altcoins.
788  Bitcoin / Bitcoin Discussion / Re: Alt-coins, Bitcoins clever way of confusing the government. on: August 05, 2018, 04:35:13 PM
I do not think that Satoshi used altcoins like Namecoin to draw attention away from Bitcoin. The CIA knew about Bitcoin in early 2011 and wanted Gavin to give them further inside on the topic. So, even if it was his purpose which I highly doubt then it failed. But remarkable is that Satoshi left the whole Bitcoin scene including this forum close after he heard about the meeting with Gavin and the CIA.

I doubt if Gavin Andresen was ever a legitimate Bitcoin developer or he was an insider CIA agent since day 1... at the beginning he was really collaborative and looks like he wanted the best for Bitcoin. He would often be in relevant debates trying to help, coding etc. He even was considering flaws in Bitcoin which he later on put into practice himself:


I don't believe a second, compatible implementation of Bitcoin will ever be a good idea.  So much of the design depends on all nodes getting exactly identical results in lockstep that a second implementation would be a menace to the network.  The MIT license is compatible with all other licenses and commercial uses, so there is no need to rewrite it from a licensing standpoint.
Good idea or not, SOMEBODY will try to mess up the network (or co-opt it for their own use) sooner or later.  They'll either hack the existing code or write their own version, and will be a menace to the network.

I admire the flexibility of the scripts-in-a-transaction scheme, but my evil little mind immediately starts to think of ways I might abuse it.
I could encode all sorts of interesting information in the TxOut script, and if non-hacked clients validated-and-then-ignored those transactions it would be a useful covert broadcast communication channel.

That's a cool feature until it gets popular and somebody decides it would be fun to flood the payment network with millions of transactions to transfer the latest Lady Gaga video to all their friends...


See this. Very telling. He is pointing to hard forks with alternative clients, spamming the network with useless crap... interesting in retrospect.
789  Bitcoin / Legal / Re: 27% of Englandís Male Millennials Say Bitcoin Better Investment Than Property on: August 05, 2018, 03:50:17 PM
But still the other 73% chose property investments rather than Bitcoin as an investment, the article just made the poll look positive with how they presented the news. Yet I have to say that 27% is really a big fraction of todays millenials and with its price being more attainable compared to expensive and limited real property I think that the millenoals will lean on cryptocurrency investing to get rich. Yes Bitcoin is also limited but it can still be purchase on its decimal value which I think is more preferable for millenials as they can have Bitcoin at a much cheaper price compared to buying a piece of land.

It's very positive to me... 27% is a pretty high percentage all things considered. You have to take some perspective and realize how Bitcoin is still only 10 years old, and you are putting it to compete against the concept of private property which is I don't even know how many years old, probably thousands? so 27% 10 years later after it exists it's pretty huge. What will it be in 10 years? again have some perspective.

Most smart people want Bitcoin because they realized it's the only thing they can ever claim to truly own, given the fact that everything else is subjected to the constant risk of confiscation by the State, may they screw up on their operation, and on a long enough timeline all governments screw up and you don't want to be holding things that can be confiscated when things go south.

We can just hold Bitcoin and pick up some cheap houses when the housing bubbling and bursts with just fractions of a BTC.
790  Bitcoin / Bitcoin Discussion / Re: Will Bitcoin become the reserve currency of the world? on: August 05, 2018, 03:22:19 PM
Given past precedents, the USD should collapse in our lifetime (unless you are like 70 years old I guess) and we should see it within a decade or two.



The USD has already had a good long run and it's now on discount time. I don't believe the USD is any different from former attempts, it will not magically last another 100 years... it must burst and it will burst one way or another. It is then that the elites will have to decide if they want to enter another fiat clusterfuck or they want a neutral global asset class like BTC, and I believe BTC will be it, which will make BTC worth $1,000,000 each if you still want to value it in USD (due the debt default which is funnily enough around $21 trillion just like the total amount of 21 million BTC.

It's gonna stay marginal (at some level). At worst it could be used as virtual money for a video game (I don't remember the name: second life ?) At best it will remain a virtual currency used by geeks or by those looking to hide their funds (taxes evasion or other reasons) or on the darknet. that said, (besides that bitcoin needs to have a minimum value of $213,000 to hit to replace the US money supply)


Bitcoin is global. It could be worth $213,000 without necessarily replacing the US money supply, so no problem about that.
791  Bitcoin / Bitcoin Discussion / Re: Bitcoin Must Hit $213,000 to Replace US Money Supply! on: August 05, 2018, 03:05:35 PM
Why would we want Bitcoin to replace the US fiat currency? All this would do is keep it under extreme regulation, constatn government interference and third parties trying to devalue it for their own business needs.


The point of Bitcoin is that they cannot do any of the above. How are they going to "extremely regulate bitcoin"? and what constant government interference are you talking about?

Again, why people seem to be mistaking exchanges like Coinbase and other things that aren't bitcoin as something that is part of Bitcoin?

As long as you can send money from A to B without asking anyone about it, Bitcoin is working regardless of what your favorite jurisdiction had to say about the fact. As long as this is the case, Bitcoin is undervalued compared to your favorite fiat currency.
792  Economy / Speculation / Re: When is CBOE ETF? on: August 05, 2018, 02:43:21 PM
When is the CBOE ETF decision by SEC? I think it was supposed to be in August.
I think good news regarding CBOE will come out, and it will continue the bull market.

You are Full Member in this forum but you still have not learned how to use forum "search option" or maybe how to use search engine with desired keywords? There is dozen of threads with info on this forum, and even more outside the forum...

The best thing that can happen to Bitcoin is that we lose all the noobs that think things like Futures and ETFs matter, no matter if they are from Winklevii or CBOE or anyone else. As long as we have these people on board we'll have these very sharp speculative moments of people looking at whatever news to make a move. In the long term all of these will not make it because they will be holding 0 BTC by the time Bitcoin resets the clock. Meanwhile let them have fun with the pump and dumps, just focus on increasing your BTC holdings and not your USD, or long term you will pay for not doing so.
As far as this ETF goes, it will not pass, there's like a 10% chance, so we will have another dump. Once the "bitcoin is dead" comments begin, smart money will start coming through and we'll continue the rise to ATH.

I see you changed your mind regarding ETF from last few weeks, you even post thread in which you making comparisons between ETF gold&possible ETF BTC, and you made some positive posts in other threads regarding BTC ETF. Now you change your mind because price is drop some 1000$, it is not because of ETF but just because big players decide it is good time to take some profits.

I do not agree that CBOE/VanEck SolidX Bitcoin Trust have only 10% of chance for success, even before some analyzes say that it was around 25% for postive decision - now some things are much better prepared and SEC is consider BTC as currency and not security.

However maybe you will change your opinion next week or at some time ETF get approved and price is go up. In the meantime you can express your thoughts direct to SEC ( although I'm not sure that anyone is really reading this comments ).

Comments on Cboe BZX Rulemaking

Please read my posts again. I've always said ETF and Futures and other government-related trickery it's not really relevant for Bitcoin's fundamentals on the long term, but it would obviously helping with the price pumping.

The ETF approval is something we essentially need. ETF is like a security and a system like Bitcoin or any other altcoins really need ETF. So, in one word it's actually like Bitcoin and Altcoins are nothing without ETF , the community badly needs the ETF approval.

More dumb claims from clueless noobs. How in the fuck is the ETF giving any security to Bitcoin? how is Bitcoin nothing ETF?

The ETF is just a way for investors to filter in more USD into Bitcoin. It raises the price, but it's completely irrelevant for it's security, system, or anything technical. The people that use the ETF aren't even relevant, they don't hold BTC which is all that matters.

Would it be nice to pump the USD price? I guess so, there is always a nice dopamine rush when it pumps, but fundamentals wise it is pretty irrelevant as far as Bitcoin is concerned. All that matters is the asset being held or moved itself, not government issued options.

I have many posts like this.

The fundamentals of Bitcoin will make it go to $millions due basically fiat collapsing in another 2008-like event irrespective of ETF approved or not. But like I said, if the ETF passes we'll pump heavily, even tho I just doubt it will happen because it goes against all logic... they said they wold only approve it if they can "regulate" (manipulate) it.

Im just not sure anymore the ETF will pass anytime soon. We may go through more months of inaction before they have approved it. Q1 2019 and we'll know if it's time or not.
793  Economy / Speculation / Re: When is CBOE ETF? on: August 04, 2018, 05:35:57 PM
According to the document:

Quote
ď[The ETF], under normal market conditions, will use available offering proceeds to purchase bitcoin primarily in the OTC markets, without being leveraged or exceeding relevant position limits.Ē

So it's not like they are going to start buying chunks of 25 BTC in exchanges driving the price up (25 BTC is the minimum amount you can get per share with this ETF so it's aimed at well off investors). The speculation will be what drives on-exchange price due the fact the ETF passed.

Other than that, it's just irrelevant for Bitcoin. You aren't holding Bitcoin unless you are holding the keys yourself in cold storage. But whatever helps pump the price I guess.
794  Economy / Speculation / Re: Bitcoin slips below $8,000 as investors step away from risk on: August 04, 2018, 04:56:00 PM
The recent rejects from the ETF could be the major reason of the investors to pull out and has caused the price to fall. But the users should remain calm and should be optimistic because the price will rise.
I think the reasons for the investors to to pull their hands out could be some other.
Lets not talk about the price, we should better talk about the technology to get a good picture of the bitcoin performance. Technologically it seems like bitcoin isn't working proper for the purpose it was introduced.
We had forks in the past which failed then we were expecting the lightning network to bring positive changes to bitcoin to ease the users, which failed as well. Now what are the developers doing to make Bitcoin perform better.
In my opinion until the technological issues are not resolved Bitcoin price may not progress or even if it's price go high it will not be capable to maintain that level of price and growth.
There are some other reasons as well that affect the prices but pressure from those could be reduced if Bitcoin get of technological crises.
We should demand for a better technology and not for the price, price will be automatically increase when we will be offered efficient transaction system with low fees.


These are not "investors" but speculators.

If you are pulling your money in and out out of an asset given X news, you aren't a damn investor, you are just hoping to make a quick buck.

To qualify as an investor you have to study the fundamentals and have a long term view. Obviously anyone that thinks the SEC decision on this or that ETF or future matters for Bitcoin is clearly not understanding the fundamentals of Bitcoin and not an investor by any means. They are just trying to profit from the ups and downs, that's a trader/speculator.

None of these clickbait articles go beyond the latest USD price.
795  Economy / Speculation / Re: Why again the prices were falling? on: August 04, 2018, 04:07:18 PM
There are going to be up to 4 more ETF's that the SEC will be reviewed through august 16th and march 4th 2019. This means that we are going to keep having these up and downs that easily trigger noobs and speculators into juggling with the Bitcoin price. Of course 90% of them will lose money long term compared to just holding the BTC and not caring about these pump and dumps.

Eventually one of the ETFs will pass against all odds and then everyone that sold will not be able to sleep at night for years because they will miss on a massive pump. So just ignore the government scams and hold your damn BTC, it's all that matters. Think about the long term and understand futures and ETFs are not a fundamental part of Bitcoin.
796  Economy / Economics / Re: The asteroid trillionaires on: August 04, 2018, 03:48:36 PM
Oh wow I never knew you could mine water from asteroids! Thanks for sharing this fascinating article, I actually read the whole thing. Looks like water in space could end up being more expensive than gold. If water can really be used to create rocket fuel that means whoever owns the asteroid can build something like a rocket fuel station and sell water and fuel to commercial spacecrafts passing by like these emerging space tourism companies. It would be so rad if this happened in our lifetime though. I think there is still quite some time before we will be able to witness something like this. And these space flights are certainly going to be so expensive that only the elite could afford going to space on a casual trip haha.

I don't see it worth the trouble of having to land in some small moving rock when we have discovered Mars may have huge supplies of water:

https://www.nytimes.com/2018/07/25/science/mars-liquid-alien-life.html

Im pretty damn sure there is life on mars, at least at the microscopic level, but it is known that we've seen some really strange things going on there, including a crab-like creature:



How is it far fetched that in such conditions insects and arthropods haven't resisted for years? some can be really resilient. And we also now know there are big places with water there... it's a matter of time the news are hit on mainstream media, then the race for resource extraction in mars will begin. Hopefully we don't destroy the planet in the process as we did with earth.
797  Economy / Speculation / Re: Does McDonald coin have the power to cause dip in bitcoin market on: August 03, 2018, 07:16:53 PM
Quote from: stompix link=topic=4800658.msg43397441#msg43397441

cough cough....bitcoincash....cough ver puppets

None of which are bitcoin devs anymore in any capacity. They aren't in Bitcoin Core and they aren't Bitcoin devs in general as they are working in an altcoin. Therefore Bitcoin devs cannot be bought, you just end up kicked out one way our another.

Gavin and Mike sold off to US government way before BTC went up to $1000+ anyway, so they never had as much money as current devs. The longer the time goes on the richer devs (which are holders) become, so the less incentive to sell off. Also given past precedents, they don't want to ruin their reputation just like the aforementioned.
798  Economy / Speculation / Re: Nobody is using crypto's to pay anymore on: August 03, 2018, 04:23:01 PM
The majority of people that can have access to common goods and services through fiat are going to continue using fiat for obvious reasons that if the people doing these studies thought about it would realize.

Fiat is known to only go down in value long term. People get paid in fiat. These 2 premises already make it obvious: Spend the fiat on common things and use Bitcoin as a store of value and to buy things that aren't easily purchased with fiat, to move wealth across borders in an easy way etc etc.

Until physical cash is removed, economic activity on Bitcoin will be rather low. And when that happens, everyone using cash will start using Bitcoin as an alternative, you will see more jobs being offered in exchange of Bitcoin etc, that is how an economy starts, out of necessity, and the average Joe couldn't care less to pay with fiat or Bitcoin for now. But when all these people doing jobs under the table out of necessity (because if they paid 100% of taxes they would basically not be able to sustain their basic necessities) are forced to declare everything, they will obviously look for alternatives and Bitcoin is it.
799  Economy / Economics / Re: The asteroid trillionaires on: August 03, 2018, 04:08:48 PM
The irony is that if additional huge mines of gold are found in asteroids, the gold price will collapse and this will only benefit Bitcoin, as it will showcase why it's universal scarcity makes it the best store of value among other reasons such as not having to carry it physically and whatnot. You just can sleep well at night knowing no "additional mines of Bitcoin" are going to be found so to speak.

Any minerals or materials that are found will only increase the supply and plummet existing markets. Only rare materials not ever found on earth would have value.

Of course the stock of the companies doing the mining itself is where the main market will be.
800  Economy / Economics / Re: Does the bitcoin dev. team had bull preparation on 2018? on: August 03, 2018, 02:54:44 PM
If by "bitcoin dev team" you mean the Core developers.. and if you mean that they are manipulating the market... then no, I doubt that they have enought bitcoins to manipulate the market. I mean all of them are pretty much rich at this point, but I doubt they have 100k+ BTC which is what you would need to have enough power to attempt to manipulate the market in a long lasting and meaningful way.

I think the Core developers are just coding and aren't really doing much in the market.

For 0.17 there are some big updates I've heard, we'll see if that has an impact on the market at all, but right now the speculation is in the ETF.
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