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2101  Economy / Speculation / Re: Calculate how much is Bitcoin? on: June 28, 2019, 05:15:34 PM
i don't think anybody in that topic thought $10k is a joke. but everyone had problem with the way you came up with $10k price.

basically for me, your method is severely flawed because you are trying to link bitcoin' value with the  cost of its mining. you are forgetting that the cost of mining bitcoin increases with its price! so if we assume cost of mining according to you is $10k and price reaches $100k by the end of the year, the cost of mining will also increase to $100k. and if it drops to $10 the cost of minng will drop to $10 too.
you can't use something that moves because of price as the reason for speculating the price.
2102  Bitcoin / Bitcoin Discussion / Re: Will cryptocurrency soon be an alternate payment option? on: June 28, 2019, 02:44:12 PM
why do you keep repeating "cryptocurrency"? as far as i remember those companies announced the possibility of them to start accepting "bitcoin" as payment in the near future not "cryptocurrency".

in any case bitcoin has been an alternative payment option for many years now. i think from the days that it was used to pay for Pizza it started being one and stopped just being virtual money. ever since then it has only grown.
2103  Bitcoin / Bitcoin Discussion / Re: How to understand risk in crypto on: June 28, 2019, 02:33:30 PM
i am wondering whether anybody is going to buy what you are selling them here which is your guesswork. specially now that in less than 2 weeks  you have a terrible track record of always predicting the wrong thing.
2104  Bitcoin / Bitcoin Discussion / Re: Blockchain average confirmation time on: June 28, 2019, 02:21:59 PM
you are asking the wrong question because that time is not a fixed time and it depends on a lot of factors.

for starters it depends on your transaction's fee per byte value. if you pay 0 for example then your "average confirmation time" is infinity. but if you paid 1 then it could be from 1 second to 1 day depending on the time you broadcast the transaction.

also although this has a low chance but it depends on whether you got unlucky and made a transaction during one of those gap times where it takes much longer than 10 minutes to find a block (like taking an hour).
2105  Bitcoin / Bitcoin Discussion / Re: How to know who is Satoshi Nakamoto or the Bitcoin Cinderella shoe. on: June 28, 2019, 02:17:55 PM
Think about it. The block #394 was mined 3,940 minutes after the genesis. That's only 65.67 hours after the genesis. Who was mining BTC at this time?. And do not tell me that Hal sent 2000 BTC to himself!

when you start a topic like this, you need to get into the habit of checking things you say so that they are factual. otherwise everything else will look like your own guesswork.
in this case you are simply multiplying number of blocks with number 10 but you are missing the fact that finding blocks is a luck based thing and also with difficulty 1 it can't go lower than that so sometimes it takes longer to find a block.
so the time (if you actually check the blocks) is >5 days or >120 hours
2106  Economy / Speculation / Re: Where will the price stop ? on: June 26, 2019, 05:42:40 PM
thats the thing why most people lose money in the end , they think one trend will last forever that something that goes up will keep going up, they need to learn that everything that goes up must come down, its how its always been both in life and in trading Smiley

no, there is no "must come down" here. not just bitcoin but price of anything, there is no obligation to come down just because it went up!

price goes up until it reaches a "balance" but will continue rising as long as it is below that balance which is the balance between supply and demand and so far for bitcoin the demand is continually rising.
the only time the rise has to be followed by a "come down" is when it is above that balance or market needs a correction.
2107  Economy / Speculation / Re: New High... For Everything. What'll happen next? on: June 26, 2019, 05:32:20 PM
we already had many nice corrections below $10k that helped with keeping the rise inline and healthy but because the price continued jumping more (which is most probably a new FOMO wave) ever since $10k and specially today we are again in need of a correction.
so that is what comes next.

but don't confuse correction with the big dumps that some people are expecting these days though! a correction is price going down from $13500 top down to $12150 (a 10% drop).
2108  Economy / Speculation / Re: Bitcoin Monthly Chart Shows Prices Will Jump Higher on: June 26, 2019, 05:17:52 PM
i sure hope not!
we are already in a mini-bubble because of the jump that we had in the past days. this current price needs a correction to go down about 5 to 15% before we can continue rising and remain in a healthy bull market. otherwise if there is more jump it will only add to the mini-bubble and we all know that bubbles burst and their burst can cause a downtrend for a longer period compared to a correction.
2109  Bitcoin / Bitcoin Discussion / Re: Youtube bitcoin advertisements everywhere. on: June 26, 2019, 05:03:46 PM
youtube is known to be filled with this type of crap. basically every time there is something new that people are attracted to, a bunch of video makers start a quick 5 minute google search about that thing and start creating dozens of videos about it.
obviously when bitcoin is gaining popularity and specially these days with the big price rise, a lot of them are becoming very active at creating their low quality content and posting them on youtube.
2110  Economy / Speculation / Re: Bitcoin's Bull-run fully explained on: June 25, 2019, 02:39:16 PM
    Most altcoins are underperforming.[/li][/list]
    i say they are over performing with all the pumps they had in the past month before the bitcoin rally began. and many of them still have leftover bubbles that has not yet completely burst.

    Quote
    Bitcoin's halving is happening very soon
    a year from can not be considered "very soon". and because of that i don't think we can talk about this bull run and associate it with the upcoming halving
    2111  Economy / Speculation / Re: $1,000,000 would kill bitcoin on: June 25, 2019, 02:16:31 PM
    As far as I know, with 2nd layer technologies, you can pretty much have lower denominations than a satoshi.
    Correct. The base unit in Lightning is already a millisatoshi (msat), or 0.001 of a satoshi. So even if one satoshi = $1 (which as pointed out above, would result in the marketcap of bitcoin being around 25 times higher than the amount of broad money in the entire world), you would still be able to divide down to the equivalent of 0.1 of a cent (which is obviously more divisible than fiat). And this is without even mentioning that fees on Lightning are generally a fraction of what they on chain.

    lets not get carried away though. we still have a very long way to go before we can even begin to think about splitting bitcoin into units smaller than 1 Satoshi.
    so far the smallest regular transaction paying the smallest fee is paying a total of a little less than 200 satoshi which is still 200 times more than the smallest unit which means we have 200 units to go before we reach the base unit.
    2112  Economy / Economics / Re: A Blockchain Project that cannnot be resisted on: June 25, 2019, 12:50:06 PM
    a project that relies on another platform to even exist can not be decentralized in other words no ICO token has ever been truly decentralized. the other problem is that when the underlying platform itself is centralized you can't build decentralized anything on top of it.

    Quote
    The idea is to supplement users income with native coins printed out of thin air.
    the question that should be asked is WHY!
    why would people want to get paid in a token as an "extra income". that would just add an extra step for them to then go and dump that token to get fiat back in order to use it because that token will never be used anywhere.
    2113  Economy / Speculation / Re: $1,000,000 would kill bitcoin on: June 25, 2019, 12:36:15 PM
    OP's statement is based on his assumption that bitcoin doesn't change at all. but the truth is that bitcoin of today is not like the bitcoin of early days and it won't be the same in a couple of years too. the fundamentals stay the same but the details change to match the need of that time and keep the network healthy.
    2114  Economy / Speculation / Re: Crypto Analyst Says Bitcoin (BTC) Price Could Hit $100,000 During Next Bull Run on: June 25, 2019, 12:20:43 PM
    100 grand is now seemingly the most commonly quoted figure across this forum which is pretty bonkers when you think about it.

    it is not that big a number if you think about it in comparison to number of people who want to have a share in it. we only have 17.7 million of it in circulation and the world population is 7.7 billion. even if only 1% of the world bought bitcoin that is 77 million investors each only getting 0.22BTC with current supply!

    i'd say even with 1% adoption $100k price is still too low.
    2115  Economy / Speculation / Re: Popular Crypto Trader says “Bitcoin is likely to hit $60k+ this coming uptrend”. on: June 24, 2019, 05:27:26 PM
    people who are making random guesses about bitcoin price are not considered "popular" and most of them aren't even bitcoin traders, they are instead content creators who are making money from their "content" like their youtube videos, the services they sell,...

    as for the "guess" itself, it have to say it looks more like attention grab guess which is a very common thing among this type of people. $60k price is on the horizon but not soon and certainly not with a "rapid rise" at this point since we are just starting to enter the bull market after a hanful of months.
    2116  Economy / Speculation / Re: Network fees as market indicator on: June 24, 2019, 05:16:12 PM
    this market is so much more unpredictable than that to be easily predicted only by using network fees. much better indicators that are a lot more logical have failed!
    not to mention that you are making a mistake by repeating "people send their coins to exchanges" while you have no way of actually knowing that. they may be cashing out from excahnges after their buys!
    2117  Alternate cryptocurrencies / Altcoin Discussion / Re: Russia, Philippines, Indonesia and India support crypto the most on: June 24, 2019, 04:26:00 PM
    first of all you should never waste your time reading stuff that these shitty news sites keep publishing, it only misleads you by giving you false information like this case. the article is basically seeing some newbies who have participated in some of the giveaways and ICO scams and based on that he is concluding that the mentioned countries have a higher "support" for cryptocurrency! which makes no sense. not to mention that there is no explanation of how he came up with the numbers either.
    2118  Alternate cryptocurrencies / Altcoin Discussion / Re: Governments decline libra but main payments accept it on: June 24, 2019, 04:22:50 PM
    you are asking something that can not happen!
    Libra is not some decentralized cryptocurrency that could be run by its peers. it is a company created centralized system that needs government approval to exist. it is like asking "can Microsoft exist if government FBI wants to close it down?!!"
    2119  Economy / Speculation / Re: Bitcoin price update reach 10,000$ on: June 22, 2019, 05:40:23 PM
    i think revisiting $6600 or $7500 is possible from here.
    way to kill the mood, bro :/ Everyone's bullish and stuff but you're here talking about a 30% crash  Huh

    actually a 30% drop has been a common thing during each bull run. you can check out 2017 to see many of them take place. but they always take place after a much bigger rise and after the market entered the bull mode properly.
    by the way dropping to $6600 is no longer 30% drop it is going to be a 41% crash which is highly unlikely right now but it can happen after a little more rise which means the bottom won't be there anymore.
    2120  Bitcoin / Bitcoin Discussion / Re: Is it possible to write a Bitcoin Public Key Generator software? on: June 22, 2019, 05:29:04 PM
    (my aim would be to select public keys includes btc and send them to my account and own them permanently).

    in other words your aim is to find someone else's money and steal it from them! so you want to be a thief.

    to answer your question in another way since it was answered a million times already, i have to say if it were possible someone would have done it in the past 10 years! everyone would have stolen other people's money and bitcoin value would have not been more than 0.
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