Personally I don't understand the thesis of acknowledging the price can drop 25%+ to $6k area but not 50%+ to $4k level if there is natural bearish correction.
you don't understand it because you are calling it a "correction" and your percentages are way off the mark. a drop down to $4k is not only not a correction but also it is a gigantic crash. the size of it is going to be a little less than 70%. so in other words if you even consider $4k you are considering the market to crash (for no reason i should add) hard! |
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i could have gotten excited if the list of those appearing in the video didn't contain Roger Ver and Vitalik Buterin. i really don't think these people understand or even care what bitcoin is all about. they have proven that they only care about their own power in the scene and the money they can make from the "hype".
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even if we ignored what people pointed out and assumed OP were correct then it still wouldn't be a bullish sign. it would only be a sign that the adoption is growing. we already knew that!
when it comes to price (being bullish or not) the market works a bit differently from how adoption works. surely adoption is the only reason it rises but it won't affect the price right away as the market still could be affected by more short term more powerful forces such as the fear that we see nowadays keeping the price below $10k.
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Can this be an indication of the end of the Cryptocurrency trade?
do a quick google search of this keyword: "SEC rejects bitcoin ETF" you will find news articles dating as old as 2017 (there may be some in 2016 too). that should answer your question. |
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well the real "goal" is to create a decentralized system not just have some decentralized aspects and other centralized aspects all around it.
so in this case the goal should still be to stick to that decentralization. what this means is that in your example (the scams) we should try and come up with decentralized ways. one way that comes to mind is usage of multi signature schemes with (2 of 3) or without (2 of 2) escrows.
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to get out of this dip we only need the money that went out to come back in and they usually come back with a FOMO and they do that as soon as they see a major rise so that it could act as their strong signal to buy. sometimes it happens when some moving average is broken, sometimes it is triggered by a big news and sometimes it is just the buying power pushing the price upwards enough to break that resistance.
in any case it won't happen with $8600 if you ask me.
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Small question for other members, or the entree and close clear to understand? Or did I do it wrong and have to change things for probably the HALVING game after Q4??
nah, it was all clear and thanks for these games you keep putting up every quarter. i personally was trying to join near the end of the date but i got busy and didn't visit bitcointalk and when i did near the end, i forgot to join the game  |
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Considering that their currency is basically unusable,
a currency is only unusable if they went to grocery store and couldn't pay for groceries with their fiat. are you trying to say that there is a country (Zimbabwe?) that people can't do what i just said? So far the use of cryptocurrencies there is rising and it probably won’t stop until they fix their economy. This shows that cryptocurrencies can help countries that have problems with their currency.
do you have any actual proof for this? specially since you are using the term "cryptocurrency" not bitcoin! |
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From a TA standpoint (i'm a noob with a background in music but i've been studying and doing paper trades for years now). Bitcoin has been consolidating for a few months after a pullback from a 1 year high.
the high that the real pull back started from was in 2017 and the high was at $20k which was a bubble. so the bubble burst and the consolidation occurred for the following months and lasted upto 12 months (until 2019) and this year there was no consolidation anymore. it was just accumulation, then a big 250% rise and now the correction of it with some panic is what we have. |
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There's no such thing about safest and best way to profit with this very speculative market.Ofcourse there would be still a risk
because we cant even point out on which price would be considered to be the bottom.BTC and other alts do always been good on breaking
investors expectations yet it can breakout nor slump its price unexpectedly.Buy low sell high sounds pretty basic but can you actually
apply it out on this very bearish market? Im sure you would be still hesitant.
This advice of buying low and selling high is really not applicable to all coins and it would be very difficult to apply such rule in this bearish market because we have some coins now, that looks like they have already bottomed and would also look like it is the best time to purchase them, but before you really know it, it keeps going down in price. For those coins, the best time to actually trade them is during the bullish market, but exceptional of Bitcoin, Bitcoin can be bought at any time because no matter the drop in price it may have, there is always going to be a short period of time for it to recovery which whoever is able to buy at dip price them would be able to make money within the shortest possible time, which I think maximum would be 4 weeks. we aren't in a bear market because a single drop doesn't suddenly change the overall trend to cause a bear market! but even if we were, the strategy still works because the "buy low, sell high" strategy is a very short term strategy that works based on fluctuations of the market and market always goes up and down even during the drops. for example it goes from $10k to $9k then to $9.5k then $8k. in there there is a rise. |
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it is not possible to see the competitors get involved with each other and start cooperating to manipulate the market which is something illegal by the way. the more the number of exchanges the harder it is. right now as we have a dozen big bitcoin exchanges each of which having less than 8% of the volume there simply is no way any of them cooperates with others and individually they have no power.
remember than last time an exchange manipulated the market it was 2013 and it controlled more than 90% of the volume alone.
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I think Bitcoin's price is the most redundant topic here in Bitcointalk.
it is not redundant at all. certain market movements that are insignificant are redundant and are not worth starting a whole discussion about. for example a while back when the price actually dropped was the time to discuss about it but not yesterday when it was just staying where it was considering 1-2% changes are insignificant. |
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So transactions from Lightning Network which I believe are non-standard cannot be signed or relayed by standard nodes is it?
there is a difference between signing and relaying. to relay a transaction all you have to do is to verify it which includes verifying the signature (running that script). so in your example all they have to do is to know what OP_2SWAP and others do. and nodes do know it so they can verify and relay the transaction. but to sign it, they have to know how. even a human can not always know how to produce a signature for all scripts so it can not be turned into pre-defined code. |
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when you have a compressed public key you have one starting byte (0x02 or 0x03) followed by x. compute y2 first from x like this:
y2 = x3 + 7 (mod p)
then compute y by an square root algorithm, since p for bitcoin is like (p%4 = 3) you can simplify it as:
y = (y2)(p+1)/4 (mod p)
the acceptable y is:
if y is odd & first byte was 2 => -y
if y is even & first byte was 3 => -y
otherwise y
for examples, go to bitaddress.org generate private keys and look at the compressed and uncompressed public key results.
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The elite are always trying to redistribute assets into their portfolios. Privatisation of national assets is one way that they do this. Now that they have come to realise that Bitcoin is a store of wealth, and may be better than gold or silver, then they will attempt to soak up as much as they can, and they will use all of their established tricks and machinations to do this. The obvious result of this is that there will be a substantial increase in value over a period of time. The big advantage of Bitcoin is that it allows small investors to take advantage of this wealth preservation opportunity. It is possible to purchase a few pounds ( Sterling ) of Bitcoin, and this is not a possibility for gold investors.
Wait until they come to realize that Bitcoin's proof of work is a form of energy to "wealth" transformation, that can be subsidized by their tax payers.  right now (that price is not on the rise) all of these things that are said will fall on deaf ears because those ears are currently filled with FUD and their eyes are only seeing that drop. otherwise those who know bitcoin besides the "magic money macking machine" already know the potential of it and what it really does! which is why these people are buying it while others are running around scared. |
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there is always some people who are expecting bitcoin price to drop for a lot of different reasons (missing the boat, wanting to short,...) and when there is any drop their activity grows! as to what i think, i think the price will keep going sideways for at least a couple of weeks (maybe until end of Oct.) and then slowly rises back up. if we see it go above $9k and get closer to $10k i expect another big FOMO to take place and take the price up above $14k super fast. |
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for the time being this seems more like the squeeze that is put on the market during the drops like what we had recently to try and see if it can be pushed any lower.
i would say the results have been encouraging because for starters the weak hands are too weak that they may as well not even be in the market anymore with the last cleanup! and with this bounce back we can see the market is still filled with more buyers
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the way i understand it, the code first checks the type of your script so that it can decide how it should sign your transaction. so there are only a handful of things it can sign and everything else should fail for automatic detection and signing.
in this case it may be failing because your redeem script is a strange one starting with "0 OP_2SWAP 3 OP_ROLL" so core has no idea how to sign this.
have you tested your code with a normal (standard) checkmultisig redeem script? i think you should start there and move to non-standard.
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it probably is price and the related dramas that it brings. otherwise every other aspect of bitcoin that you think about is very strong. it is decentralized, boarderless and it has been resisting all kinds of attacks for 10 yeasr without faulter.
but when it comes to price we see a lot of drama mainly because the market is small and filled with a lot of newbies weak hands that could easily be manipulated to make irrational moves.
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-snipped-
that doesn't require breaking backward compatibility with legacy nodes. the fork just needs to add new rules to lock or destroy ECDSA-secured coins. of course, that would make legacy nodes useless---but not incompatible---so it would still be a soft fork. (not that it matters)
it is not about backward compatibility, it is about old nodes not being forward compatible and addition of new rules. we first have to add a new OP code for the new signatures. and we have to use the new signature scheme that everyone accepts (reaching consensus) and since both of these are new rules that we would be adding they require hard fork. |
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