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1001  Bitcoin / Bitcoin Discussion / Re: Elon Musk calls crypto “quite energy intensive” on: February 23, 2019, 05:57:26 AM
Quote
If bitcoin technology were to mature by more than 100 times its current market size, it would still equal only 2 percent of all energy consumption.
2% Of World Electric Consumption Is Huge
2% World Electric Consumption Can Power Indonesia,Bangladesh,Philliphines[1](More Than 500 Million People) Simultaneously

you forgot that there is an "IF" behind that sentence and that means it first has to satisfy a certain condition and then consume that much energy. that "condition" is maturity and mass adoption in which case it means a unique decentralized system that is processing monetary transactions of the whole world for hundreds of millions of people every day. as a result of that, the power consumption would be negligible.

you see it is never about how much power is consumed, it is mostly about why it was consumed and what was offered in return.
1002  Bitcoin / Bitcoin Discussion / Re: Hold on to your hats: We’re moving up yet another Bitcoin flagpole on: February 23, 2019, 05:47:37 AM
Oh boy. I wouldn't celebrate just yet. This just might be a dead cat bounce. It's really just too early to say where the prices is going. The sudden bullishness of everyone actually concerns me. Feels the same when we rose from $6000+ to $7000+ in August-September but immediately just dropped back down.
Don't get me wrong but it feels like another bull-trap is building up again in here. Shocked There are a lot of people saying that Bitcoin already hits its bottom and they are hyping on social media and other forums related to Bitcoin/Crypto Currency, but just like what you have said it is too early to celebrate at this moment because it could go sideways anytime. But I do hope that we already reached the bottom because the bear market is quite too long for now. Cheesy

actually there is no way you could tell what this is. it may very well be a "bear trap" in a different sense as with a little up and down to get people to start shorting and then shoot up to crush them all.

although what i think is going to happens is that we will start seeing price slowly creep up and then see a sudden drop to flush out some bot orders and then reverse back up and shoot above $4k resistance.
1003  Alternate cryptocurrencies / Altcoin Discussion / Re: Can you Please Guide me Which is the Right age to start Crypto Exchange Business on: February 21, 2019, 08:38:16 AM
starting any kind of business is not something that is restricted by your age. you can start it at any age but it depends mainly on your skills, experience and willingness to fight for your business and endure all the ups and downs of staring a new business with lots of money involved and lots of losses initially and a lot of costs. it is not for everyone which is why not everyone is a successful business owner.

so if you see it in yourself to start a business in a market that already has similar businesses run by bigger players then go for it otherwise think about something else and save yourself the headache and money loss.
1004  Alternate cryptocurrencies / Altcoin Discussion / Re: Altcoins With Low Trading Volume? on: February 21, 2019, 08:26:17 AM
If a coin has low trading volume, is that very bad?

bad for what?

you first need to decide what you are looking for and then try analyzing. if you are looking for an altcoin to give you profit then yes if it has a low trading volume then it shows its current death state and it can't give you any profit. but having high volume is not guaranteeing profit either.

but if you are looking for technology,... then volume is meaningless you have to check elsewhere.
1005  Economy / Speculation / Re: bitcoin price increase on: February 21, 2019, 08:16:53 AM
will the price be as soon as possible to recover at $ 20,000?

haha, no it won't happen "as soon as possible". if you wanted to become rich overnight then you came to the wrong place.

what will happen is an initial slow rise with a lot of corrections that will look like bull traps and shake a lot of newbie traders and weak hands out while whales become bigger and then slow rise continues for a while, possibly even until the end of the year and then after all these steps were over we start seeing the newbies come back after about 2x-3x rise and then we see the shoot up start.
1006  Bitcoin / Bitcoin Discussion / Re: How much Bitcoin will be circulated within 2030? on: February 21, 2019, 08:00:45 AM
How can I calculate the possible circulation within 2030?

there are calculators online and websites that track halving and stuff like that and i am sure you will find them if you do a google search.

as for the mathematics behind it, things work this way:
- difficulty is set in a way that on average we see 1 block every 10 minutes on average. and when you calculate in long term you can use that approximation because the error in that is small.
- supply is distributed in form of block rewards and that is set in a way that it started from 50 btc/block and halves every 210000 block.

so you first calculate how many blocks are going to be found until a desired year (like 2030) starting from 2009 then break it into 210000 blocks and start multiplying each portion with appropriate reward:
- first 210000 * 50
- second 210000 * 25
...
- remainder (smaller than 210000) * respective reward
then add all of them together.
1007  Bitcoin / Bitcoin Discussion / Re: How do you think of this bitcoin halving chart? on: February 21, 2019, 07:55:57 AM
it is way too soon to start talking about halving and its effect on bitcoin price. for the time being we have other rallies and resistances to break and reach a much higher price before the halving even begins. and then like always we will see a lot of hype about 2 month prior to the actual halving date and by then price will shoot up and enter a small short term bubble which will burst after the halving and then we will be back on track with rises.
1008  Alternate cryptocurrencies / Altcoin Discussion / Re: How do I find new cryptocurrencies on Github directly? on: February 20, 2019, 08:01:19 AM
GitHub is just a place where people share the source code. you can't make money from source code of an altcoin and nobody can "earn crypto" by visiting github until the coin is actually released and they wouldn't release it without making some announcements in multiple social media platforms starting with bitcointalk!
so if you saw someone with a large amount of some coin while it was not even announced on bitcointalk then be sure that the coins were premine and your awareness of the code on github is not going to change that because they aren't going to give you any of the premine!
1009  Alternate cryptocurrencies / Altcoin Discussion / Re: Somebody paid $310,000 in transaction fee to send 0.1eth on: February 20, 2019, 07:48:39 AM
I still don't understand why it might happen, Maybe this is an ETH error or some other reason. I have never seen such a strange thing since I joined this market and know ETH

this is simply what happens when people decide to use applications that are not safe and are not reviewed. sometimes it is due to their own messing up with the code where they unknowingly introduce bugs trying to do strange stuff and as a result end up losing a lot of money.

since this has happened more than once, it is definitely a broken wallet/application that is sending these transactions like this because it has a bug.
1010  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Dead cat bounce or the start of bull market? on: February 20, 2019, 07:28:08 AM
whatever this was, the only thing important is that it was a short term opportunity for traders to make a nice amount of profit in a couple of days and then for bag holders to also dump their bags at a moderately higher prices compared to the bottom of the dumps so that they could get their bitcoins out of the shitcoins they were holding and be able to resume their trading and make profit instead of holding on to some bags while seeing them lose value.
1011  Alternate cryptocurrencies / Altcoin Discussion / Re: REVERSE ICOs? on: February 20, 2019, 07:14:57 AM
I'm thinking because they are Reverse ICO (like they did not host any ICOs until now but already have a business that's running) they should be less risky.
What do you guys think??

correct, they are less risky but not safe. in other words these ICOs are still very very risky and it doesn't matter if there is some real business behind them. if their business was so successful then they wouldn't be needing to raise funds like this through an ICO.
you should ask yourself this: what does this new token offer the world that they couldn't do it without it?!! the answer is nothing in all ICO token cases that have been created so far in the past couple of years.
1012  Economy / Speculation / Re: Bitcoin is currently in an uptrend reversal. on: February 20, 2019, 07:02:42 AM
OP, be careful. The whalecumulators are scanning these topics daily, and will unleash the FUD, followed by crashing the price once they smell some bullishness from the plebs. Cool
I'm no conspiracy theorist, but this post made me chuckle a bit--and it's also nice to see bitcoin up around $3800 too.  Seems like the price has been very flat for way too long, though I'm far from certain this isn't just random fluctuation.

Whales don't read this forum unless they're the old guard who were here in the beginning.  The newer money folks couldn't care less about a discussion forum; they want a quick profit and likely don't care about the bitcoin community.  They'd probably find it extremely caustic if they ever did visit bitcointalk and would run screaming, never to return.


I would chuckle when the next fabricated FUD is spread all over Bitcoin land, then followed by a crash back to $3,200. The first word in my mind will be "whalecumulators". Cool

i hate to admit it but i am also expecting this to happen! although i don't think there is much FUD and push down left in the market to be able to "crash" the price anymore but i think we can very well see it happen again and again until price breaks out above $4000-$4500 and by that time the rise can be out of control and unpreventable.
1013  Bitcoin / Bitcoin Discussion / Re: Facts about the next bitcoin halving (cool infographic) on: February 20, 2019, 06:55:06 AM
~snip~

ps. i still don't get why people are focusing so much on halving instead of focusing on a dozen other more important matters that have been helping the adoption and consequently increasing the price!
Because everyone is waiting to empty their bag when it hits the new ATH then the price drops again and buy again hehe

Really, it is not making sense to me. People are too much hyping the halving event. We really need to focus on other things, may be LN.

i think it is more like halving being the new ETF thing.
it is not about them wanting to sell their bags, it is about these people (who focus only on halving for the rise) think there is no other way for bitcoin to rise so they constantly seek some reason to justify the rises for themselves. they did the same with ETF, 90% of them didn't even know what ETF is but they all insisted on it being approved because they thought if it did then rises would follow!

what they miss is that bitcoin isn't rising because of some arbitrary event. bitcoin is rising because the demand for it is increasing (the adoption is growing) since it is useful and is offering unique utilities.
1014  Bitcoin / Bitcoin Discussion / Re: Don't fell for FUD. Stand your ground bitcoiners! on: February 20, 2019, 06:48:59 AM
You got a point here . strategy of others wont always work on some people . thats why it is much better to foccus on your own strategy , not only it is beneficial for you . it can also teach you a valueable lesson if ever you fall from your own mistake .

When it comes to fuds, we must not believe on them instantly because fuds are only the same as speculation and prediction . they are all unreal or no evidence to back thier statements .  fuds only causes users to panic  and fudsters only take the benefits at most .
Those that like to spread FUD most of the time appear when the market is not doing well, after all if the market is skyrocketing you have no reason to beleive anyone that is warning that the market cannot sustain such growth, but when they spread their FUD when the market is like this many people will believe them because deep down they are thinking something similar even if they do not want to admit it.

it has nothing to do with the market and whether or not it is doing well.
it is all about the market going in the opposite direction of what these people hoped for. so they want to pull it back to their own desired direction. for example someone who has been shorting bitcoin or had the wish to buy bitcoin below $3400 is now desperately spreading FUD about bitcoin because he thinks he can get back the opportunities he missed so that he can right his  wrongs!
1015  Alternate cryptocurrencies / Altcoin Discussion / Re: JPM coin is a threat to the Ripple's XRP? What will be the fate of XLM? on: February 18, 2019, 06:47:41 AM
Why is ripple and stellar drag into this ? I thought JMP coin is a stable coin ? You can't compare them at all, JPM coin is backed by USD and ripple is based on the power of demand and supply

because all these coins are considered centralized shitcoins that only focus on being used by the banks in a centralized manner. so while the other two coins are created by small unknown groups of people who made some money from their shitcoin's premine, the JPM coin is coming from a gigantic bank with a strong roots so it basically can make those other centralized shitcoins obsolete.
not to mention that it is showing other banks how to make their own coin so they will dump any relationship they had with these coins and do exactly that.
1016  Alternate cryptocurrencies / Altcoin Discussion / Re: Upcoming Constantinople will not have negative security implications. on: February 18, 2019, 06:34:32 AM
that is pure bullshit.

in a cryptocurrency whenever there is a fork (without any exception) it will always be considered high risk. and this risk is hundreds of times higher when it is a hard fork compared to when it is a soft fork. in case of Etherum this IS  a hard fork introducing fundamental changes in the network hence it is considered a high risk fork.

additionally when you consider that this fork is going to turn thousands of mining rigs to brick because of the change to POS you can see how unhappy miners are and how they might decide to stick to previous chain and not fork to the new one.
of course ethereum is fully centralized and they will face a lot of problem because they will be going against millions of dollars of centralized power that can dump their coin the same way they tried dumping the original  chain which is not called ETC.
1017  Economy / Trading Discussion / Re: Confused about Trading, Holding, Buying or Selling in this market? on: February 18, 2019, 06:22:42 AM
There is talk about bitcoin falling back to around $1000 and there was a mini frenzy last week when the markets rose with calls for the Bulls!

literary at any time you will see some people talk about how bitcoin is going to fall down to a drastically low price. for example all through 2016 and 2017 there were people who were strongly arguing that bitcoin is going to fall to $200 just because that was the bottom of the previous level where the rise began and mainly because most of them didn't buy there and missed their chance. now $1000 has replaced the $200.

with that said, you shouldn't even read these  things! random people on the internet always become experts while spreading bullshit and losing money themselves and all those they mislead.
1018  Bitcoin / Bitcoin Discussion / Re: Don't fell for FUD. Stand your ground bitcoiners! on: February 18, 2019, 06:15:41 AM
So theoretically you could expect a lot of interest in these exchanges. But somehow there's not much. And I think it will be the same with atomic swaps (either through smart contracts or in some other way), i.e. people won't be interested in these. And that's the reason we are not going to see a lot of development here either

the biggest problem in that front is that centralized exchanges are making money so they keep staying ahead of the game while decentralized exchanges won't make money. and everyone nowadays wants to make money that is why they develop in first place. the days of Satoshi are over where the developers created things to change the world not for financial gains.
and the worst part is that even if they are paid, they create some sort of shittoken in the name of decentralized exchange with ICO or something like that and don't deliver anything because they made the money they were looking for

Merited your post as this is what I've been telling folks for years

I had even created a topic here after Bitfinex got hacked in August 2016 when over 120k bitcoins were stolen. People were nodding their heads in agreement and nothing has changed since then. A truly decentralized exchange is only possible on the blockchain level when your desktop wallet functions as that exchange. But no one is financially interested in this kind of thing since there is no way you could profit off it, apart from running an ICO fraudulent scheme as you correctly note

in a way i still believe that this can change in the near future though.
the decentralized and open source community is much bigger and better than what we have been seeing so far which has been mostly greed. things like bitcoin which are created to change the world not the creators pocket size, happen rarely but they do happen. that is why i believe eventually this tide will turn and we start seeing some better developers enter the space with motivations to improve the system not just make money from it.
...and then we will see stronger decentralized exchanges, much better alternative cryptocurrencies and lots of innovation.
1019  Bitcoin / Bitcoin Discussion / Re: Facts about the next bitcoin halving (cool infographic) on: February 18, 2019, 06:06:17 AM
This data is not accurate, in year 2020 93.73% of all bitcoins will be mined, and by the year 2032 more then 99% will be mined (99.21%) so that less then 1% will be left for next 120 years, really a very small and insignificant amount. You do not have to worry about so long period of time, in less then 10 years there will be very low production of new mined bitcoins.

by 2020 if we take the day of halving then there will have been 3x 210000 blocks or 630000 blocks.
21000*50 + 21000*25 * 210000*12.5 =  18,375,000BTC / 21000000 = 87.5%

ps. i still don't get why people are focusing so much on halving instead of focusing on a dozen other more important matters that have been helping the adoption and consequently increasing the price!
1020  Bitcoin / Bitcoin Discussion / Re: The used of Bitcoin in Africa on: February 18, 2019, 05:53:40 AM
I think the most usage of bitcoin is for trading, include in Africa. No wonder if bitcoin volume is big in coinmarketcap.
And peoples are using it as payment instrument too, mainly from underground world i guess.
So, no matter how bitcoin used anywhere, it is good to hear that many peoples still using bitcoin and cryptocurrency.

your guesses here have no value specially since you are making random wrong guesses. it is obvious that one of the biggest usages of bitcoin because of its volatility is for trading and investment but that doesn't mean the usage of bitcoin as a currency is small or limited to illegal activities.
in fact Africans are using bitcoin as a means of payment more than anybody else in any other country. there are people who have been mining bitcoin and using it to buy food and have it delivered to their country for over a year now.
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