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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 595083 times)
RealBitcoin
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December 16, 2015, 07:45:52 PM
 #3121


You do realize btc is denominated in fiat and the number of businesses where you can spend them directly or trade them for fiat worldwide is infinitesimally small, right?

It will grow.


Are you high?

No.


Bitcoin is secured by nothing.

It's secured by demand, just like anything else.



 Historically, the favorite assets for hedging against inflation have been gold, property and recently Inflation-indexed securities. These assets increase in value in very close correlation to the value of money.

Gold is heavily manipulated. Estate will probably crash with the bond trash, since it has been pumped up massively. I would not invest alot in those, unless you are in an undeveloped country.


Bitcoin does not. Bitcoin increases in value when some fat latte drinking French bastard cheats his exchange with custom written bots. In fact, I've never seen any proof that shows all the exchanges aren't doing the same thing. The ground underneath Bitcoin is like walking on jello. I love Bitcoin but ones survival requires living in the land of reality.

That was 2013, you missed out 2 years. In the last 2 years bitcoin grow alot and became more serious than just a few scammers make you believe.

Most current exchanges are somewhat regulated, but for what it's worth, they are more decentralized, so they cant cause that much hard again as gox did.

The ground under bitcoin is just now developing, give more 3-4 years and you will see serious breakthroughts.

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December 16, 2015, 08:05:18 PM
 #3122

2013? Yeah, ok. Whatever makes you sleep at night.

http://www.bitcoinfuturesguide.com/bitcoin-blog/is-there-fake-trading-volume-on-bitstamp

http://www.coindesk.com/huobi-ceo-addresses-fake-trading-volume-rumours/

http://www.coindesk.com/chinese-bitcoin-exchange-okcoin-accused-faking-trading-data/


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December 16, 2015, 08:10:26 PM
 #3123


Well there are already works on that bip 65 or whatever, that will integrate a new feature that will allow decentralized exchanges.

Your username is questioning authority, but then you are submitting yourself to corrupt exchanges. The free market is better than that. The ultimate decentralization, is automation via blockchain.

So to completely avoid human risk and wrongdoing, a decentralized exchange is needed, which will be out by next year. I`m looking forward to it.

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December 17, 2015, 04:28:53 AM
 #3124


Well there are already works on that bip 65 or whatever, that will integrate a new feature that will allow decentralized exchanges.

Your username is questioning authority, but then you are submitting yourself to corrupt exchanges. The free market is better than that. The ultimate decentralization, is automation via blockchain.

So to completely avoid human risk and wrongdoing, a decentralized exchange is needed, which will be out by next year. I`m looking forward to it.

I question how viable decentralized ones are, though, due to the slower trading and such. It's going to be interesting to see...

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December 17, 2015, 08:58:49 AM
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I question how viable decentralized ones are, though, due to the slower trading and such. It's going to be interesting to see...

Well they can easily find a solution. NXT has already built an exchange on itself, both currency and asset. It should be no harder than that.

1 problem though is that bitcoin takes 10 min to mine, I think a 5 min target would be better, because Even DOGE with 1 min time is not having any problems, so BTC should be at least 5 min, but otherwise it will take longer to confirm.


So a BTC -> NXT transaction might take 11 minutes, which is slow.

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December 18, 2015, 05:47:03 AM
 #3126


I question how viable decentralized ones are, though, due to the slower trading and such. It's going to be interesting to see...

Well they can easily find a solution. NXT has already built an exchange on itself, both currency and asset. It should be no harder than that.

1 problem though is that bitcoin takes 10 min to mine, I think a 5 min target would be better, because Even DOGE with 1 min time is not having any problems, so BTC should be at least 5 min, but otherwise it will take longer to confirm.


So a BTC -> NXT transaction might take 11 minutes, which is slow.

While I think NXT is good for some things, it is ridiculously slow due to how it works. Plus you're paying to list your coins for sale (or assets), which makes you be much more cautious since you can't keep re-listing to keep up with the market without losing a lot of money/time.

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December 18, 2015, 06:27:46 PM
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I question how viable decentralized ones are, though, due to the slower trading and such. It's going to be interesting to see...

Well they can easily find a solution. NXT has already built an exchange on itself, both currency and asset. It should be no harder than that.

1 problem though is that bitcoin takes 10 min to mine, I think a 5 min target would be better, because Even DOGE with 1 min time is not having any problems, so BTC should be at least 5 min, but otherwise it will take longer to confirm.


So a BTC -> NXT transaction might take 11 minutes, which is slow.
I'm curious how NXT will react to the development of bitcoin's Lightning Network.
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December 18, 2015, 10:19:48 PM
 #3128


While I think NXT is good for some things, it is ridiculously slow due to how it works. Plus you're paying to list your coins for sale (or assets), which makes you be much more cautious since you can't keep re-listing to keep up with the market without losing a lot of money/time.

I dont know but NXT is pretty fast, it has 1 min block time, compared to 10min in btc, so i dont know what your talking about.

I think if bitcoin block time gets faster, then NXT will also benefit from that.

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December 19, 2015, 12:20:19 AM
 #3129

NXT is pretty fast, it has 1 min block time, compared to 10min in btc, so i dont know what your talking about.

If the use case is an exchange that enables day trading, 1 minute is an eternity to some.

Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.
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December 19, 2015, 12:20:49 AM
 #3130

Yup I still hate this thread. And still believe it should be locked down for eternity. Circle-jerking is not most becoming of a real gentleman.


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December 19, 2015, 12:29:05 AM
 #3131


While I think NXT is good for some things, it is ridiculously slow due to how it works. Plus you're paying to list your coins for sale (or assets), which makes you be much more cautious since you can't keep re-listing to keep up with the market without losing a lot of money/time.

I dont know but NXT is pretty fast, it has 1 min block time, compared to 10min in btc, so i dont know what your talking about.

I think if bitcoin block time gets faster, then NXT will also benefit from that.

Faster block time doesn't solve anything, it only makes it less secure. Which means you need more blocks for the same security and there is much more risk of orphaned blocks or conflicting chains.
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December 19, 2015, 12:51:20 AM
 #3132

NXT is pretty fast, it has 1 min block time, compared to 10min in btc, so i dont know what your talking about.


Think about the stress testes with 1 min block time, the hell it would be.

Faster blocks mean less resistance to spam attacks too

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December 19, 2015, 06:02:10 AM
 #3133

http://astrohacker.com/ahc/bitcoin-is-the-economic-singularity/

After reading this, the scale of black market and digital economies and the effect Bitcoin will have on them I am pretty certain we are going to be very wealthy men -- even with a sum as small as 10 Bitcoins. It's just so hard to believe. We are only in the beginning storms with these significant rallies from 10 to 20 dollars. I will not be surprised to see prices from hundreds to thousands in the coming months.

The world just isn't going to be the same and we have been blessed as the pioneers.

What are you going to do with your Bitcoin wealth once your coins hit upwards of $10,000 a pop?
i really agree with that tittle,"bitcoin is the economic singularity"
yes because bitcoin have special place on world economic,bitcoin is different,and i'm also agree if we are the next wealth gentelman,and its just how we can use this chance to be real wealth man. i wish i can use this chance to safe some money for future.

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December 19, 2015, 06:11:22 AM
 #3134

There is a great possibility it reaches 17000 per BTC, however no one knows.... I personally would be happy to see BTC stay low around the 300 - 400 USD mark so i could aim to buy around 10 for next year.

But that is very unlikely to happen. What you're wishing is that Bitcoin should stay stagnant for the next 10 years regarding the price.
Bitcoin will be either value way higher as now or it will be zero.
Just buy everytime you have some money left.

I think BTC has a lot of growth (keep in mind inflation is ridiculous and WILL absolutely impact BTC), but it will take a long time. We are hitting strong downward pressure after every $10. If we even get to 600, it's going to be a huge wall. Then 650, 700, 750... -> ATH. And after the ATH it's going to be one wall after another.

ATH  coming Jan 2016. And it wont be hard to get there.

Not even close. I think we *might* hit 700 in 2016 sometime, but that's a big if. 1250+ wouldn't be for at least another year (though with the way economies are going... this could be wrong).

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December 19, 2015, 08:29:02 AM
 #3135

NXT is pretty fast, it has 1 min block time, compared to 10min in btc, so i dont know what your talking about.

If the use case is an exchange that enables day trading, 1 minute is an eternity to some.

besides fastcoin, there were not other altcoin with a faster block time, 1 min is considered the best for altcoin already lowering even more is only asking for a better orphan rate
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December 19, 2015, 12:05:16 PM
 #3136

NXT is pretty fast, it has 1 min block time, compared to 10min in btc, so i dont know what your talking about.

If the use case is an exchange that enables day trading, 1 minute is an eternity to some.

besides fastcoin, there were not other altcoin with a faster block time, 1 min is considered the best for altcoin already lowering even more is only asking for a better orphan rate

Yea 1 min is pretty solid, i would even go as far as 3 min.   But 10 min seems too slow for me.

I have to wait usually 20-30 min for a TX to complete, it's ridiculous.


How spoiled we became, for bank transfer we wait 4 days, and we are angry to wait 30 min for bitcoin transfer Cheesy

But still, if its possible, why not make it 2-3 min long?

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December 19, 2015, 01:10:46 PM
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NXT is pretty fast, it has 1 min block time, compared to 10min in btc, so i dont know what your talking about.

If the use case is an exchange that enables day trading, 1 minute is an eternity to some.

besides fastcoin, there were not other altcoin with a faster block time, 1 min is considered the best for altcoin already lowering even more is only asking for a better orphan rate

Yea 1 min is pretty solid, i would even go as far as 3 min.   But 10 min seems too slow for me.

I have to wait usually 20-30 min for a TX to complete, it's ridiculous.


How spoiled we became, for bank transfer we wait 4 days, and we are angry to wait 30 min for bitcoin transfer Cheesy

But still, if its possible, why not make it 2-3 min long?

The transaction time 10n times is faster, but is it as secure  Huh
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December 20, 2015, 06:20:11 AM
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While I think NXT is good for some things, it is ridiculously slow due to how it works. Plus you're paying to list your coins for sale (or assets), which makes you be much more cautious since you can't keep re-listing to keep up with the market without losing a lot of money/time.

I dont know but NXT is pretty fast, it has 1 min block time, compared to 10min in btc, so i dont know what your talking about.

I think if bitcoin block time gets faster, then NXT will also benefit from that.

Scenarios:

I want to sell 10 assets/coins on NXT
I create a new sell order (1 NXT fee). I wait for the blockchain to confirm it
30 minutes later I realize the price is going down and I want to jump on it
I cancel the order. Wait 1m for it to finish
I set up a new order. Wait 1m and pay 1 NXT fee

(Total time to do this? 3m on average)

On an exchange:

I want to list 10 assets/coins. I input the amount/value and click "Sell"
It's instantly added to the list free of charge
I see the price going down and want to jump on it
I hit cancel. It's instantly returned to me. I re-list at the new price free of charge, instantly

Total time? As little as half a second all-in.

For someone who day-trades a lot, NXT simply isn't feasible for non-stop trading.

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December 20, 2015, 08:08:34 AM
 #3139

I am pretty excited about where btc's are going, it's crazy how fast it was fluctuated over the years. Just a few years ago when the silk road was around they were worth 1 usd. Then when that crashed it soared up to 1200$, but quickly went back down to 300$. I wonder if people sold off there btc's when they reached there peak and actually found buyers, because for a buyer that seems like a bad investment considering how fast it lost that high value. It's not like gold where the price just goes up and stays up. It's still an amazing currency that can't be effected by government inflation, it's a currency for the people, so i would gladly turn my usd into btc because it feels safer then usd which is always printing new money via the federal reserve. Evil bank cartels can't be in control of it, the control is spread out amongst all of us. Pretty awesome.
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December 20, 2015, 08:55:10 AM
 #3140

I am pretty excited about where btc's are going, it's crazy how fast it was fluctuated over the years. Just a few years ago when the silk road was around they were worth 1 usd. Then when that crashed it soared up to 1200$, but quickly went back down to 300$. I wonder if people sold off there btc's when they reached there peak and actually found buyers, because for a buyer that seems like a bad investment considering how fast it lost that high value. It's not like gold where the price just goes up and stays up. It's still an amazing currency that can't be effected by government inflation, it's a currency for the people, so i would gladly turn my usd into btc because it feels safer then usd which is always printing new money via the federal reserve. Evil bank cartels can't be in control of it, the control is spread out amongst all of us. Pretty awesome.

Gold did what? Smiley
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