I hope that happens right now, then I will buy their stupid shitcoin for ZERO and they can fuck off
Well, based on what I've read so far, I don't even care about BTG's value. I don't think it's worth messing with my private keys and moving coins around, just to get this crapcoin. I never liked BCH, but at least that coin was better designed than this BTG crap. Hell, they couldn't even get their website done right in the early stages. It looked like the output of an alpha version of Google Translate... Just imagine the quality of the actual coding! |
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I'd prefer another 12-18months a steady rise as we've seen the last 2 years.Don't know if Bitcoin will be that nice to us.  However this would push up easily to $15k imo without having to worry of another mega crash and bear market imo. Then 1 year consolidation and taking a bit of breath before going with recharged batteries into 2020 for the next halving and going full parabolic!  Yep. I prefer a slow and steady rise than a rapid, massive rise followed by a huge drop afterwards. In any case, the trend is expected to be positive, given sufficient time. About 2020, we should not forget the halving that occurs then... There will be good times to come to this space, and the winners (as always) will be the HoDLers. Conclusion: HoDL, sit back and enjoy! |
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Although you guys can do what you want, I would really encourage you to think differently. First, selling even a half million $$ worth of bitcoin would incur a HUGE tax penalty right off the top.
Secondly, yearly inflation is way higher than most govt's published figures. In the U.S. the actually yearly inflation rate is probably between 6-7%, with spikes in certain goods and services upwards of 9-10%/year. And inflation is rising globally and will continue to get worse and worse. And citizens' wages will continue to stay flat or even go down in the coming decades.
Bottom line, $500K in 2020 will be only worth about $250K of purchasing power in 2035. So holding large amounts of fiat is ill advised. You want your purchasing power to stay flat or increase over time, not decrease. Holding bitcoin long term will beat the snot out of future inflation. Personally for me there is no "exit strategy", I will continue to buy and hold as long as Bitcoin is around, and only spend what I need to live day-to-day, month-to-month, etc.
And if you want to own a house or land, it would be smarter to only liquidate enough bitcoin for a sizable down payment, and then get a really good low fixed rate 30yr loan for the rest. Bitcoin's yearly returns would handily beat, actually crush any 3-4% yearly interest on the loan.
Exactly this! Just spend as much as you need for your living expenses. I do not have a desire for super-expensive purchases. I already have a decent house and car. I was never interested in luxurious stuff. Not my style. I just want financial freedom and the ability to do what I want, not what others want me to do (day job). Once this is achieved, I'm happy. |
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Just thought I'd tell you this one. I'm sure you all have similar stories.
A friend of mine back in 2013 laughed and joked about Bitcoin and I was laughed too for buying it and preaching to everyone that this will be big. This friend then joined forces with other friends and we all went snowboarding in Feb 2014 and once again Bitcoin was mentioned (not by me this time) and once again it was all a big joke.
This friend asked me around 6 weeks ago how to buy bitcoin so I sent him all the information he needed but without the preaching. In my mind preaching about bitcoin is a bit 2013 for me and not something I do anymore, in fact I try not to talk about it at all. This friend said he has money saved up and was going to buy some btc (at least 1 coin, maybe more).
My reply was that's great news, someone I can chat btc with and I wished him luck.
Today he send me messages saying he didn't buy and now wants to buy some.
Do I bother to help? I feel like he is wasting my time. He's asking me when is the right time to buy and what would be a good dip to buy?
Personally I think he likes the idea of owning btc but doesn't have the balls to push the buy button.
Another issue is I don't think he has done any research of his own at all.
Who else has a similar story?
I first talked to my colleagues about Bitcoin back in 2015. I was laughed at, ridiculed, called a fool, and even accused of supporting drug dealers and pedophiles... I stopped talking about it until early 2017, when our team leader at work asked about it. This time my colleagues were not so eager to joke and laugh about it, but still didn't accept it. After explaining to him about how it works and how to get it, he thought about it, told me something about Ethereum and whether he should get that instead, and eventually chickened out and didn't buy anything. He considered 1 BTC to be too expensive for him at that time (it was around 800 €/coin then). I explained that he could buy a fraction of it, but he never did. He was then transferred to another department and I never saw him again. At that time, early 2017, when Bitcoin was mentioned again, I had an idea, which I heard in one of Andreas Antonopoulos's talks. I decided to offer the equivalent of 1 € worth of BTC to each person I discuss Bitcoin with. I remember installing wallets on their smartphones and doing the transfers. They all gathered around me screaming "I want it too!" like crazy. I remember the amount I gave them was something like 0.0012 BTC each (which was 1 € at the time). Guess what? Now, after 10 months, that amount of 0.0012 BTC has a value of 6 €, and I'm sure they've been watching it rise to that value and realizing what they've missed! Many of them have already asked me how to get more and even apologized for being so harsh and dismissive. Well, now I just say "just Google it, mate." Can't be bothered. I do help in many cases when I see genuine interest, but to those that joked and laughed, I let them learn their lesson. |
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All this fork-mania does, is strengthen the one and only true Bitcoin. Just HoDL. Good things come to those who wait.
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Kraken has gone haywire...  |
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How do you guys know these trezors and ledgers aren't getting intercepted in the mail and their guts stuffed with something else?
I believe that the latest TREZOR devices are shipped empty (without f/w). You then go to SatoshiLabs's site and download it yourself. When you install it, a special "fingerprint" (a long alphanumeric string) appears on the computer's screen, which you must compare with the one that appears on TREZOR's screen. If they match, the f/w is not tampered with. |
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Thinking about getting a trezor, given recent gains. Put half my cold stash on it. Worth it?
Absolutely. Do it. You won't ever go back to anything else. |
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Thanks for the warning. I've just sold everything. I'm now searching for Jamie Dimon's daughter -- I heard she's super hot! |
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Both of them are excellent choices. Both have comparable (and excellent) security. They are also compatible with each other, in the sense that a recovery seed of a Ledger can be used on a TREZOR and vice versa. TREZOR is the first and most mature product of the two. I have one and I'm extremely satisfied with it. I highly recommend a TREZOR. |
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I need your help or advice, bittrex is blocking members account I immediately removed all my funds from bittrex, but what other exchange can I use?
I need some exchange that is not equal to poloniex, bittrex or yobit.
I need a professional exchange, that answer support tickets.
Kraken has been good to me since 2015. No problems, apart from the slow servers on peak days. Makes fast trading difficult, if not impossible sometimes. Well, I'm not a trader but a HoDLer, so that doesn't bother me much. Other than that, they are OK, they promptly answer questions and support tickets. I had an issue with a fiat deposit once and they sorted it out immediately. |
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Dont worry, we have Segwit  Unconfirmed transactions are just spam, produced by malicious agents with evil intentions in search of power. No real adoption. Anyway, soon we will have Lightning Network, and Joe will only have to buy Lightning Coins to participate in the "great revolution". The great revolution of the fractional reserve banking 2.0. And if you think it is not enough, all this with the sponsorship of blocks of 1MB FOREVER! We will have the most decentralized network and nodes in raspberry pi. So, leave your stupidities and think big! PS: Seriously, I love the 5000s Congratulations to all! Why do you bother, just repeating all the lies. There is lots of spam in the mempool you can see the transactions, look at what they contain. There is no such thing as lightning coins, and it won't support fractional reservere. Most Core Devs believe that the block size will increase when its actually necessary. The more people who run a node the better, strength of the network comes from everyone having a stake and not just relying on miners to protect us. These are not even points for debate, your statements are just lies. This! Many of us may think we know what's best for Bitcoin, but that doesn't mean we're right... Bitcoin has proved itself over the years, its heart beating steadily every 10 minutes since it was born. That's not an easy thing to achieve when you are being attacked constantly 24/7. We must put our trust on experienced coders that have a history of successes in this field, and not some guys like Jihan Wu, Roger Ver, and the likes of them. Any change in code, even a single line or a character, can cause a collapse if the coders don't deeply understand what they're doing. About the block size, yes, it will increase. Yes, as technology improves, and network speed and storage space increase, it may eventually become much larger than 1 MB. But it should happen in a well planned, carefully controlled and surgically precise manner. Bitcoin has given us so much over the years, and it appears the train is advancing at full speed. Let's keep it that way... |
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Those memes and the excitement are all nice and good, but the big question is this:
-- When do we sell?
-- Do we sell?
Well, that's two questions. I've always been a HoDLer and I suck at trading, but I recently bought 1.4 BTC at under $5000 per coin, for the sole purpose of trading it. I've already made about $1.5k which feels really good. What now?
My plan is to keep the coins until 25 October, then sell it soon after, and wait for the supposedly massive pre-SegWit2x drop to buy again. But will it happen?
Damn, trading's a tough business...
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I’ve already bought plenty during the previous dip so I don’t lose anything, plus most of my coins were bought below $500-700. Haven’t lost any since last year And to think that this is only the beginning is the best part of the whole thing. Same here, I haven't lost a single cent in more than 2 years I'm in the game. As for gains... It's (always been) a wonderful day/week/month/year... |
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Congrats to harrymmmm, what a nice present for you... 0.5 BTC sounds sooo fat these days...
And many thx to micgoossens, really enjoyed the game, and don't worry about being hated, this often means you're doing something right...
Kraken ATH: 4315 EUR <-- Already broken! LOL!
THIS IS GENTLEMEN!
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Monday may be gentlemen!
Get ready....
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My advice:
1. Buy as many BTC as you can afford to lose and be OK about it if it drops to zero.
2. Any time is a good time to buy BTC (see 1. above).
3. HoDL and wait patiently.
No one knows the "final" BTC price, but history has shown that following the above will give you good profit.
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True, 2X is insufficient. As is 8X. But they are steps in the right direction. The only direction that will get us to our goal. Larger blocks are a requirement for Bitcoin to be meaningful to humanity as a whole.
"The payment network Visa achieved 47,000 peak transactions per second (tps) on its network during the 2013 holidays, and currently averages hundreds of millions per day. Currently, Bitcoin supports less than 7 transactions per second with a 1 megabyte block limit. If we use an average of 300 bytes per bitcoin transaction and assumed unlimited block sizes, an equivalent capacity to peak Visa transaction volume of 47,000/tps would be nearly 8 gigabytes per Bitcoin block, every ten minutes on average. Continuously, that would be over 400 terabytes of data per year." Over the long term, not a problem. How big was your disk a decade ago? Note also that this is peak. We can tolerate transaction backlog, as long as it clears without too much time passing. Average is much lower. Note that the published paper makes a fundamental logic error. Using a peak figure as an input to an average calculation is either gross stupidity or simple fearmongering. Now lets actually discuss how we get Bitcoin into the hands of each and every person. What's your solution for that? Hmm? What I'm trying to say is that we can't solve the throughput problem in the long term by simply increasing block size. It will let us breathe for a while and then choke us again. Other, smarter methods should be employed for solving this problem. One proposal is the Lightning Network. There will be better ones to come, and we should embrace them. I've been around the incessant march of technology long enough to know the it will indeed solve the issue in the long term. There may be some points where demand outstrips technical limits. But now is not such a time, and neither is the long term. LN may be am important component of the ultimate solution set. But it is in no way sufficient. There is no technology proposed that eliminates this fundamental bottleneck. Block size needs to be increased. Period. Regarding your 30-year calculation, it is indeed correct, and is an interesting result. SegWit gets this reduced to 15 years.
No. It absolutely does not. You are not yet processing what I wrote. For a person who does not yet have Bitcoin, at least two on-chain transactions are required. One to get Bitcoin into his possession, and another to make his one and only lifetime channel funding (how likely is this limit?). Now, it is possible -- however implausible -- that the initial purchase of Bitcoin might be combined with others in a single transaction that can take advantage of Segwit. However, it is impossible for his channel funding transaction to be reduced in block consumption via segwit. The smallest it can be is one input and one output. So that latter set of transactions (the channel fundings) is a minimum of 30 years at 1MB. Plus whatever it takes to get the Bitcoin into peoples hands to begin with (another 30 years in the natural transaction/person case). Well, for the calculation I assumed the goal was for everyone to simply own Bitcoin (hence one transaction per person)... Perhaps this reveals the limits of the design as it currently stands. Technological advances may not always follow a predictable and foreseeable path. Technology may take a long time to be able to accommodate the technical requirements for a truly global Bitcoin network (in the sense that everyone on Earth actively transacts in it). Another coin may be able to achieve it, but maybe not Bitcoin as it is currently designed. It may take a long time for us to get there... I also trust the developers. Especially Core. I trust their cautionary/conservative approach. The "bigger is better" approach that many are eager to take may have unforeseeable side-effects on the Bitcoin system. Sure, technology will provide new capabilities and we should use them. But we should do so extremely carefully. |
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True, 2X is insufficient. As is 8X. But they are steps in the right direction. The only direction that will get us to our goal. Larger blocks are a requirement for Bitcoin to be meaningful to humanity as a whole.
"The payment network Visa achieved 47,000 peak transactions per second (tps) on its network during the 2013 holidays, and currently averages hundreds of millions per day. Currently, Bitcoin supports less than 7 transactions per second with a 1 megabyte block limit. If we use an average of 300 bytes per bitcoin transaction and assumed unlimited block sizes, an equivalent capacity to peak Visa transaction volume of 47,000/tps would be nearly 8 gigabytes per Bitcoin block, every ten minutes on average. Continuously, that would be over 400 terabytes of data per year." Over the long term, not a problem. How big was your disk a decade ago? Note also that this is peak. We can tolerate transaction backlog, as long as it clears without too much time passing. Average is much lower. Note that the published paper makes a fundamental logic error. Using a peak figure as an input to an average calculation is either gross stupidity or simple fearmongering. Now lets actually discuss how we get Bitcoin into the hands of each and every person. What's your solution for that? Hmm? What I'm trying to say is that we can't solve the throughput problem in the long term by simply increasing block size. It will let us breathe for a while and then choke us again. Other, smarter methods should be employed for solving this problem. One proposal is the Lightning Network. There will be better ones to come, and we should embrace them. Regarding your 30-year calculation, it is indeed correct, and is an interesting result. SegWit gets this reduced to 15 years. This duration will be decreased further by increasing the block size. But it still won't solve the throughput problem. Perhaps a combination of gradual block size increases, as permitted by h/w capabilities, and good off-chain solutions are actually needed. |
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