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261
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Economy / Speculation / Re: Falling under 300 again
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on: February 23, 2016, 11:06:09 PM
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That's impossible if it will fall to $300 miner's will be useless and they can't be profitable. So i think its impossible.. and it will not happen. unless bitmain will held a newborn asic miner or powerful miner.. that can mine times 3x o s7 miner..
BTC/USD was under $300 for most of last year, yet miners kept mining.Kwukduck was wrong, but I'm certain it had nothing to do with guesstimates for miners' break-even point. During that time, the difficulty is less than 50% of present value, so they made good profit then. During that time it didn't sit neatly at $300 - it cycled up from and down to around $200. And yet... still those pesky miners kept mining. My point is that miners are not one homogenous lump - if price reaches $300 there won't be a shutdown of the network. Some miners will stop, difficulty may even fall, Kwukduck will tell us the sky is falling, but life will go on. |
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262
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Economy / Speculation / Re: Bitcoin will be stable in 2020
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on: February 23, 2016, 06:31:08 PM
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Really Bitcoin market will stabilize in 2020 ?
Is it because the reward is only 6.25 BTC/block?
By 2020/6.25 BTC blocks? I don't know, I doubt it, and why are 6.25 BTC blocks significant to stability/volatility? My local fiat is GBP - historically, it's one of the most heavily traded currencies. GBP/USD is historically significant, as "cable", for being the first currency pair to be traded electronically (trans-Atlantic telegraph cables). Most foreign-exchange transactions go through London to this day. Despite that, GBP isn't immune to manipulation - George Soros famously shorted GBP, prompting the UK to exit the EU's exchange-rate mechanism. (Wall Street will not be Bitcoin's saviour). It's not all bad news, though. BTC/USD's volatility is trending down, and is currently ~3x that of USD/EUR. I somehow suspect that however low BTC/USD volatility gets, people will still complain about volatility. You never know what can happen in the future. Everyone hope that Bitcoin will be stable but you dont know what is going to happen. There is also a chance that Bitcoin can disappear or something you never know. That is a currency it is hard to predict. Everyone doesn't hope that prices are stable - naive people do, because they think it'll benefit "mass adoption", not realising that all currencies are subject to volatility (and businesses with interests in volatile currencies somehow manage to survive, using tools already available to BTC businesses). Traders want volatility, so they can trade the peaks and dips. In forex, where there's a lack of volatility there's usually some powerful interest (central bank, banking industry, government, etc) backing the currency for as long as it can - and even with a major currency like GBP that's not necessarily as long as they'd like. Bitcoin disappearing forever would be the ultimate form of stability, surely? 1 BTC = $0, forever and ever. |
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263
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Economy / Speculation / Re: Falling under 300 again
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on: February 23, 2016, 06:17:43 PM
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That's impossible if it will fall to $300 miner's will be useless and they can't be profitable. So i think its impossible.. and it will not happen. unless bitmain will held a newborn asic miner or powerful miner.. that can mine times 3x o s7 miner..
BTC/USD was under $300 for most of last year, yet miners kept mining.Kwukduck was wrong, but I'm certain it had nothing to do with guesstimates for miners' break-even point. |
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265
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Economy / Speculation / Re: Bitcoin will be stable in 2020
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on: February 22, 2016, 03:18:51 PM
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Really Bitcoin market will stabilize in 2020 ?
Is it because the reward is only 6.25 BTC/block?
By 2020/6.25 BTC blocks? I don't know, I doubt it, and why are 6.25 BTC blocks significant to stability/volatility? My local fiat is GBP - historically, it's one of the most heavily traded currencies. GBP/USD is historically significant, as "cable", for being the first currency pair to be traded electronically (trans-Atlantic telegraph cables). Most foreign-exchange transactions go through London to this day. Despite that, GBP isn't immune to manipulation - George Soros famously shorted GBP, prompting the UK to exit the EU's exchange-rate mechanism. (Wall Street will not be Bitcoin's saviour). It's not all bad news, though. BTC/USD's volatility is trending down, and is currently ~3x that of USD/EUR. I somehow suspect that however low BTC/USD volatility gets, people will still complain about volatility. |
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266
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 22, 2016, 02:36:58 PM
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The title is slightly misleading talking about miners, but the article is clear enough - developers and pools representing a majority of miners have agreed a roadmap. They've got consensus in as much as they've agreed the roadmap. But it's not until that roadmap is complete, and miners* can be seen to clearly support a hard-fork that consensus in the Bitcoin-protocol sense occurs. * and nodes? I used to be a miner, long ago, but never really paid much attention to nodes. |
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267
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Economy / Speculation / Re: Do you think bitcoin will used as National Currency on 2026?
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on: February 21, 2016, 05:23:44 PM
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Probably never. Bitcoin will remain the currency of choice for the libertarians, fringe elements around the world, wackos, drug dealders, pron peddlers, and, let's not forget, terrorists. Why would normal people associate themselves with these unsavory, unwashed, uncivilized elements of humanity???
Wait... are you saying BTC has ascended to the dizzying heights of being the currency of choice for the libertarians, fringe elements around the world, wackos, drug dealders, pron peddlers, and terrorists? Got any numbers for that, because I kind of feel that ISIS is financing itself with fiat (the people in the territories they've occupied have easier access to fiat than they do to BTC), that the Provisional IRA and their friends the UVF financed themselves with fiat, that the vast majority of drug dealers will insist on fiat, etc etc. But, I'd be happy to be proven wrong - that'd be really bullish. |
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268
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Economy / Speculation / Re: BITCOIN going up or down
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on: February 21, 2016, 12:22:13 PM
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it is going up now, +20$ in 2 days, and thing is, that i have no idea why it's rising now, but higher price, better for me, and i'm afraid that it might fall down soon
There was a sudden outbreak of consensus. Developers and pools representing a majority of miners have agreed a road-map towards increasing block size, subject to strong community support. |
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269
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Economy / Speculation / Re: Bitcoin value is 440+
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on: February 21, 2016, 11:18:17 AM
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But why is it rising? is it just because of the increased ask? I mean, it is not even near the time for the halving though.
Because the fundamentals changed (or, at least, we have a road-map for change): this price was kind of expected from yesterday when the news about consensus was released. although consensus is not yet completely reached the news is a good news anyways which obviously lead to price rise.
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270
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Economy / Speculation / Re: 400$ was the top
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on: February 20, 2016, 09:04:14 PM
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i think will rise until US$ 580 - 600 this year weekend..
We won't see anything near $500 this weekend. I think the price might go up to $450 at most. But if you do believe the price will go as high as you say, then buy right now! I do not see the $500 within a month at all. If there is no news about the block size increase, the price will be around $400. Developers and pools representing a majority of miners have released a statement proposing: - SegWit is expected to be released in April 2016.
- The code for the hard-fork will therefore be available by July 2016.
- If there is strong community support, the hard-fork activation will likely happen around July 2017.
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271
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Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: Scrypt.CC | Scrypt Cloud Mining
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on: February 20, 2016, 05:14:00 PM
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<snip>
Stop feeding the troll. He is either a sociopath, or the owner of that shit hole. Apologies. I think it's important, though, that pro-scrypt.cc apologism is challenged rather than allowing it to be normalised and become acceptable - and accepted as truth. I agree that his statements should not be left for potential victims to fall foul of, but trying to reason with him is pointless. He just wants the attention. Just post the PSA or insult him and post the PSA  Fair enough! (I like the second approach better!) |
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273
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Economy / Speculation / Re: CONSENSUS! ....... lol
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on: February 20, 2016, 04:54:22 PM
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Leaked draft:
On February 21st, 2016, in Hong Kong’s Cyberport, representatives from the bitcoin industry and members of the development community have agreed on the following points:
We understand that SegWit continues to be developed actively as a soft-fork and is likely to proceed towards release over the next two months, as originally scheduled.
We will continue to work with the entire Bitcoin protocol development community to develop, in public, a safe hard-fork based on the improvements in SegWit.
The Bitcoin Core contributors present at the Bitcoin Roundtable commit to make a good faith effort to have an implementation of such a hard-fork ready for merge within three months after the release of SegWit.
This hard-fork is expected to include features which are currently being discussed within technical communities, including an increase in the maximum effective block size, to more than 2 MB and less than 4 MB, and will only be adopted with a broad support across the entire Bitcoin community. -We will run a SegWit release in production by the time such a hard-fork is released in a version of Bitcoin Core.
We will not run Bitcoin Classic. We will only run Bitcoin Core-compatible consensus systems in production for the foreseeable future.
We are committed to scaling technologies which use block space more efficiently, such as Schnorr multisig.
Based on the above points, the timeline will likely follow the below dates.
SegWit is expected to be released in April 2016.
The code for the hard-fork will therefore be available by July 2016.
If there is strong community support, the hard-fork activation will likely happen around July 2017.
The undersigned support this roadmap.
So the Chinese ship-captains still have to rely on strong community support? Isn't that what Satoshi proposed in the original whitepaper? Honestly, I'm OK with this - I don't really care how candidates for community consideration are crafted*, so long as the community decision making process outlined by Satoshi in the whitepaper is maintained. * ... though next time, a little less acrimony would be nice. |
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274
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Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: Scrypt.CC | Scrypt Cloud Mining
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on: February 20, 2016, 04:32:27 PM
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winspiral it is impossible to recover the password... You bet. LGBT My point is that the withdrawal fees are fixed, while the amount you can withdrawal is declining. As it declines, the proportion of your money taken by scrypt.cc increases.
Not that long ago, people were able to withdraw 0.1 BTC and pay 0.001 BTC withdrawal fee - 1% of their money was being taken by scrypt.cc. Now 0.1 BTC is forbidden - you're not allowed to withdraw 0.1 BTC of your money unless you... wait for it!... jump through the hoops Dumbasef has just elaborated. Make smaller withdraws.
OK, lets consider withdrawing that 0.1 BTC in 10 amounts - 10 x 0.01 BTC, all subject to a 0.001 BTC charge by scrypt.cc. That's 10% of your money getting swallowed by scrypt.cc. Sure, make the amounts bigger and the percentage getting clawed away by scrypt.cc is smaller - but don't be too greedy! Your withdrawal request might be declined.
Unlimited opportunities every day to pay scrypt.cc 0.001 BTC. Amazing.
It's not all gloom, however. You could simply not withdraw, and re-invest your BTC in... whatever it is that scrypt.cc is pimping. Or claims to be pimping. But anyhoo... while you're doing that the amount you'll be allowed to withdraw (when you finally decide you'd like your own money returned to you) is steadily decreasing. So don't wait too long, or that percentage tax you pay to scrypt.cc for the privilege of having your money (partially) returned to you - that tax is steadily increasing!
That money you are talking about is your rewards from scryptcc, the interest of your money, it is not your money yet until it gets into your btc wallet outside scryptcc, at least that is how I view it. So it is being "Taxed" or nipped with .001 btc everytime you withdraw. But if you look at the brighter side of things, your investment gives you income despite all the halving which can be earned back by reinvesting, and the fees too. It is pointless to complain about it, I just do what works and what works is to play by the scryptcc rules.  Oh? Just the rewards? I assumed it also included money punters had deposited. How do you get that money back? Or is that completely forbidden? I have to admit I'm not seeing the bright side - "invest" at scrypt.cc and not only will you make money (maybe) but you'll actually make less money because you'll need to claw back ever-increasing withdrawal charges. Incidentally, I'm not complaining about it - I'm calling you out when you try and put a positive spin on this fiasco. |
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276
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Economy / Speculation / Re: BTC to 5000$ soon
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on: February 20, 2016, 02:56:00 PM
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The problem with Opening post is that it is pure speculation, not really backed by real life events and paradigms. So what if gold market cap is xxx and bitcoin is xx?
These two commodities are not related in direct way whatsoever and while I (as probably everyone here on bitcointalk) agree that bitcoin price is underwhelming atm.
There is NO real evidence that we will reach $5000 anytime soon, and certainly not before 2020. (I wish I was wrong on this...)
You must be kidding me. Seriously? That's your reply? "There is NO real evidence that we will reach $5000 anytime soon"  "not really backed by real life events and paradigms" You have to learn what the speculation subforum is in its essence, young padawan. To be fair, many newbies seem to erroneously believe that a sub-forum on Bitcointalk called "speculation" would be for discussing speculating with BTC. Fortunately most of them soon realise that "speculation" has further definitions beyond the narrow world of finance. |
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277
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Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: Scrypt.CC | Scrypt Cloud Mining
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on: February 20, 2016, 01:47:13 PM
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withdrawal fee is 0.01 BTC also correct? Lower, it's .001 they'll need to make another withdrawal Yes, and you can do unlimited withdrawals per day (although it shows only ten) My point is, if you can't withdraw big, then withdraw in small amounts. You are complaining about the fees. what the heck man, at least your investment is flowering in the scrptcc site. If you see that your earnings are diminishing, then reinvest! And no I think you are the stupid one wishing for things that won't happen LOl. My point is that the withdrawal fees are fixed, while the amount you can withdrawal is declining. As it declines, the proportion of your money taken by scrypt.cc increases. Not that long ago, people were able to withdraw 0.1 BTC and pay 0.001 BTC withdrawal fee - 1% of their money was being taken by scrypt.cc. Now 0.1 BTC is forbidden - you're not allowed to withdraw 0.1 BTC of your money unless you... wait for it!... jump through the hoops Dumbasef has just elaborated. Make smaller withdraws. OK, lets consider withdrawing that 0.1 BTC in 10 amounts - 10 x 0.01 BTC, all subject to a 0.001 BTC charge by scrypt.cc. That's 10% of your money getting swallowed by scrypt.cc. Sure, make the amounts bigger and the percentage getting clawed away by scrypt.cc is smaller - but don't be too greedy! Your withdrawal request might be declined. Unlimited opportunities every day to pay scrypt.cc 0.001 BTC. Amazing. It's not all gloom, however. You could simply not withdraw, and re-invest your BTC in... whatever it is that scrypt.cc is pimping. Or claims to be pimping. But anyhoo... while you're doing that the amount you'll be allowed to withdraw (when you finally decide you'd like your own money returned to you) is steadily decreasing. So don't wait too long, or that percentage tax you pay to scrypt.cc for the privilege of having your money (partially) returned to you - that tax is steadily increasing! |
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278
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Economy / Speculation / Re: BITCOIN going up or down
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on: February 20, 2016, 01:35:09 PM
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It's not going to drop to 200$, it's too popular now to drop so low, it will rise more
If the price will go back again in $200 price well that is really a R.I.P bitcoin and more developers and miners will stop their services. Halving + Cheap Price = Sh*t. That is right, miners invested a lot of money in their mining rig they will be the one that will be affected if the price drop that low...the operating cost might cripple their mining when they can't even pay their electric bill from mining... The most marginal miners will stop mining. Within 2016 blocks difficulty will fall to reflect this. Miners with spare capacity, or miners who have recently stopped mining, will consider the new difficulty and decide whether to start/re-start mining. Within 2016 blocks difficulty will change to reflect this new level of mining. Bitcoin will continue as normal. |
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279
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Economy / Speculation / Re: Finally bitcoin above 400 again
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on: February 20, 2016, 01:03:11 PM
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Is there some news which caused bitcoin price to go up again? Or it is just standard fluctuation of the bitcoin's price once again?
It looks like the block-size debate is nearing consensus: This seems to be related to some meeting in China regarding trying to reach consensus. https://twitter.com/cnLedgerLatest tweets: 52m ago [HKmtg]To Everyone reading this. The consensus is not yet an official announcement. You should wait and read the statement after the meeting 1 hours ago [HKmtg]To Everyone: We have CONSENSUS! In April we get SW, 3 months later, core HF code ready 1 hours ago [HKmtg]F2Pool CTO Wang: today, we agree here to end the debate politically, and sort out the tech details later. 4 hours ago [HKmtg]Core:A contentious HF, will cause price to drop. In 2013-03 a HF resulted in thousands of coins lost, and harmed a large pool. |
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280
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Economy / Speculation / Re: I'm dumping my bitcoins so you should
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on: February 20, 2016, 12:29:31 PM
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No, never do that, dumping your coins is not a good idea you might regret it if you see that bitcoin's price has improved... no matter what we advice people to do, they will not listen to our advice as they simply don't know what to do or what they want. most of the people yolo buy hoping the price will go up significantly so they can make a quick profit. people don't have the patience to wait till the block halving. To be fair, they have a better idea of what they want than we do. And without knowing what they want, any advice we give them is likely to be fairly meaningless. |
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