It's not official statement but it's just the way representing price one the terms of USD. In the world if you look for other assets also then they will be traded or stated in terms of price unit, that's USD. It is used in general to represent every other currency also. GBP, EUR are also having top values in the world but we still calculate them in USD for our understanding. The conversions are also always made in USD currency. May it's just has the easy acceptance globally and everyone understand the USD term that's why it is used.
Actually, there are many liquid currencies in the world right now. So apart from USD, currencies like GBP, EUR and JPY are also well traded. So other countries' currencies get priced in multiple trading pairs. The same is true of Bitcoin as well. |
|
|
|
According to Bryce on Twitter. You will need $70billion new money while nobody sell for bitcoin to hit $10k this year
Nope. You just need one transaction at $10K for this to happen. Market capitalization by itself is a flawed concept because of this. It just looks at the price at which the last transaction took place. |
|
|
|
When countries talk about a national cryptocurrency, I doubt if they are talking about a decentralized, fixed supply one. They will be talking about a digital version of fiat. The Deputy Governor is talking about issuing currency in an open (Decentralized?) system. At least he is thinking on those lines.  |
|
|
|
People are getting info about November fork, we might see drop below 3600 in next 48 hours and before Nomber possibly to 3k or less, but 3k will probably be a huge support. Also 1/3 (33 %) of miners changed from btc mining to bitcoin cash mining. People will FUD, sell now, buy back later when bitcoin dips. Segwit 23 August was already priced in and we risk fiasco of unsuccessful segwit transactions and/or lost coins because of segwit security vulnerabilities. Even Slush pool CEO (inventor of bitcoin mining pools) said that he first needs to see segwit transactions, until then no one knows.
There is a sense of deja vu here. If you remember, all the doomsday predictions were going around even before the Bitcoin Cash split. And we all know what happened on August 1. So there is absolutely no reason to panic now, even if the price has gone down. |
|
|
|
There is one major downside I can think of it know - Bitcoin Cash was created out of thin air, it is nothing more than a copy of Bitcoin blockchain.
Apart from obvious confusion it created, this move also brings an interesting question.
If split happened once - then what will prevent bitcoin network to split again in the future, for example during another scaling upgrade?
You can decide to split the blockchain today. What matters is if there are enough people to support your move. Bitcoin Cash created a fork on the issue of scaling, and it had considerable support amongst the community. You cannot expect this to repeatedly happen. |
|
|
|
|
This could give a big boost to remittances as well. A lot of people who work outside the Philippines might now find it feasible to send bitcoins to Philippines. Their relatives could go ahead and change the bitcoins to fiat easily.
|
|
|
|
Anyone who has studied classic Economics will tell you that bitcoin is a bubble, but he can develop and become a full-fledged currency. Such an experiment has already been carried out on the scale of one country. It was a company of MMM in Russia. Now her head is on the loose and maybe Satoshi is a pseudonym Mavrodi.
The classic laws of Economics will tell you that Bitcoin was a bubble when it achieved parity with the dolllar, when it increased from $2 to $32. The laws of Economics wouldn't have told you that Bitoin will reach $4000. So it is up to you to see whether you go by the book or take additional risk. |
|
|
|
About 6 months ago, I sent 2 Bitcoins from a paper wallet to Coinbase and sold the two Bitcoins for $1000 a piece. I believe I discarded the paper wallet with the private keys on it because the wallet was spent.
If I had access to those private keys, would I have access to those Bitcoin Cash and all future forks?
Also...is this an argument to NEVER discard private keys even if the wallet is empty?
As people have said, you couldn't have got bitcoin cash for it because the addresses were empty at the time of the split. Only in case of a coin like Clam, which rewards you for having an used address, will it help. There is a danger of retaining the private key in an unsafe manner. In case of a wallet which is deterministic, people who have access to your private key might be able to get access to other addresses in certain cases. |
|
|
|
This is good thing that ICOs be regulated. Look at today, many newbies in the altcoin thread create ICOs, using almost every single hot keyword. They are 100% scams, otherwise they won't use newbie account to do it.
This won't change. The SEC's writ only applies to the United States of America. They can't regulate what happens in Dubai and China. ICOs will continue to happen, but they will require a declaration that you are not a US citizen before you invest in it. |
|
|
|
BitPay should be noticed when they have a say what 'users' want.
They stand for voice of a huge merchant community watching the usability and risks of bitcoin's protocol.
If they 'say' it will influence many other merchants accepting or thinking of bitcoin.
Their business suffers from too high fees and LN or other 2nd layer scalings are yet no or no quick, safe options.
What do you users really want? Alts taking over here?
High transaction fees are a problem. Is the developers don't listen to the voice of a majority of people, they run the risk of people switching to Bitcoin Cash. Now you don't need other alts to take over. |
|
|
|
Him being a billionaire doesn't change anything -- Mark Cuban is a complete idiot who's just trying to say or do things to gain himself some media attention. No one in his right mind takes anything coming from him seriously. I don't even understand why news sites are creating an entire article just for him -- are they that desperate to push articles online to generate some ad revenue pennies?
News articles are written on news which sells. Billionaires getting into cryptocurrencies is definitely news worthy, especially from a cryptocurrency website's point of view. It doesn't matter if Mark Cuban gets some free attention on the way. |
|
|
|
You are missing the fact that SegWit2x has no replay protection, it aims to take "Bitcoin" name from Core, and it's backed by more than 90% of miners and some big companies. This is much more serious than Bcash altcoin which had zero effect on Bitcoin's network. There are so many things that can go wrong with this kind of fork, so it's very reasonable that next version of Core client will be automatically banning SegWit2x peers. If this fork will happen, and it will get significant miner support, we will see serious dips in short term. But I believe that after some weeks or months of trading, everything will go back to normal.
So, yes, you are right - HODL on, gentlemen.
If there is no replay protection, there is going to be nothing but chaos. This will be much more messy than Bitcoin Cash. I think there will be just 1 bitcoin after the November fork. It will be the one with the 2 MB blocks. The other chain will just die a quick death. |
|
|
|
An analyst who predicted the rally told CNBC. Hey... they are just reporting the analyst's views, they aren't telling you to buy bitcoins. And just in case you get the wrong ideas, the article also says the following.
Bitcoin's bad reputation
The bitcoin industry has had its fair share of problems and reputational damage. The digital currency has often had an image of being used for illegal means such as buying drugs online. The collapse of Mt.Gox in 2014, once the world's largest bitcoin exchange, is still fresh in the minds of users. Some members of the exchange are still waiting for compensation. |
|
|
|
40% is quite high for a digital currency many despised in its early days, I guess all the negative hype was all in the bid to buy cheap bitcoin cash tokens ....well played now we wait and see how it will hold up or maybe its just another pump and dump crypto? Only time will tell.
The price is actually close to where it was when BCH debuted on the exchanges. It was trading around $600 to $700, before the bug dumps happened. Right now, the price just recovered to its early levels. It is too early to say whether it is a pump and dump. |
|
|
|
Rather then negativity, I would view it as a disclaimer. You don't want gullible readers suing you and telling that you misled them into investing in Bitcoin and losing a lot of money. Mainstream media are just playing it safe.
I strongly support this pov It is not just about bitcoin, average typical journalists (they are dominating the field in our era) do not take responsibility by any means. They always put an emergency exit door to be used in case. But OP's discovery is about this door being often placed in the last paragraph, specially when the article has an encouraging headline .... interesting  That is where all the disclaimers are usually placed. Right at the bottom where most people won't read it. The positive thing to take away from this is at least the headlines are a lot more bullish than they were a year back. |
|
|
|
is it true that bitcoincash found first 8mb block ? my friend is saying that this pump is because of that 8mb block found?
Bitcoin cash recently mined the 8 mb block and that is the reason for this price jump and the rally is going strong and this is the coin which is at the second spot when it comes to valuation and so it is never considered a joke and if they could run successfully mining with 8MB blocks and make things faster then what is the problem with it. thanks for explanation . i got some questions .is everything same except block size? i don't get it. if it is that simple then why they don't do this to bitcoin? If you don't know the answer to this question, you have missed everything that has been debated for the last 2 years. If I have to answer you in one word, it is decentralization. Bigger blocks --> Fewer people running full nodes. |
|
|
|
I think you got your answer. The price is now $4,350+ and increasing $100 every day. The market cap just passed PayPal, for crying out loud! I think it will pass Apple in a few years. Then it will be more than Gold. Apple's market cap is $850 Bn. So it is still some distance away. It might take more than a few years. But if I was asked to bet whether Apple will reacg $1 Tn first or cryptocurrencies, I would bet on cryptocurrencies. |
|
|
|
$5000 is not much of a special achievement anymore -- from current levels it 'only' requires a 16% increase to reach that level. The only thing worthy of pointing at is the massive growth that we have experienced since the first of January. Asia is definitely a big factor, but I personally find the looming SegWit activation to play an even bigger role. I seriously believe that because of that, we will experience a decent sized correction afterwards. Currently, we are exactly 7 days away from activation, and if we take into consideration that the price mostly increases in advance of the actual happening, I even wouldn't be surprised to see the price go down before activation.
A 16% increase on top of a 100% increase in the last 3 weeks? The price movements of Bitcoin are definitely not memory less. It might go above $5000 this month, but it won't be easy. |
|
|
|
Some people would say that BCH has a scaling problem. Even 8 MB blocks don't seem to be enough.  Where can you draw the line? Blocks of 8 are enough for a long time but Bitcoin Cash recived a spam attack from some Segwitt supporters Found the limit is like try to predict how many bytes will have a pendrive in the future. Technology is every year better and Satoshi said once that this will not a big problem. Spam attack? That is funny. I thought that this was the reason given by small block supporters whenever blocks ran full. And why would Segwit supporters need to attack Bitcoin cash by spamming (and thereby proving that higher transaction throughput is required)? |
|
|
|
Some people would say that BCH has a scaling problem. Even 8 MB blocks don't seem to be enough. Where can you draw the line? |
|
|
|
|
Show Posts
