MinermanNC
Legendary
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Activity: 2198
Merit: 1000
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March 19, 2017, 12:45:57 AM |
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Bitcoin and crypto is one big gambling event anyways... for the most part' generally speaking, so hey why not have a split token, keeps it interesting lol
--and I bet they will be getting bought up too
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bitserve
Legendary
 Online
Activity: 1820
Merit: 1464
Self made HODLER ✓
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March 19, 2017, 12:47:41 AM |
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so right now core tokens are $800, unlimited tokens are $190. gotta admit i don't really understand it but hey core is a larger amount. What does it mean? What are tokens? I dont get it. Anyone can exlain what is going on ? It's a funny thing Bitfinex has created to cash on the Bitcoin vs Buttcoin debate. Now people can place their bets even BEFORE a hardfork happens. If it does, those tokens will be exchanged for the corresponding coins on each fork (BCC for Bitcoin and BCU for Buttcoin). Funny and interesting to watch. |
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Pruden
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March 19, 2017, 12:48:29 AM |
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So anyone care to explain why this whole BU fork FUD just happens to come up immediately after the ETF disapproval? Hmmm? You guys are getting played. The pumpers ALWAYS come up with a reason to DUMP following an ATH. If they can't exploit a hole, hack an exchange, or DDoS the shit out of one, they'll find another way. The new way is pretty simple: social engineering based on emotion. Make something trivial about Bitcoin into a big deal, create troll/shill accounts to divide the community, push $$$ towards alts and tout them as 'Bitcoin 2.0', and get everyone whipped up in a frenzy. And short-dump on the way down. Apparently, 90% of the time it's gonna work every time. Because bitcoiners are a bunch of overgrown whiny babies that can be easily manipulated.  Yet you didn't see it coming. Hmmmm? Maybe it was because you have been expecting a bounce since $1125? What exactly puts you above the overgrown whiny babies? Get ready for dat bounce
Now stop misleading newcomers before, god forbid, you make someone buy all the way down to $400 on your advice instead of waiting for a medium-term bottom. |
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European Central Bank
Legendary
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Activity: 1288
Merit: 1087
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March 19, 2017, 12:50:06 AM |
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It's a funny thing Bitfinex has created to cash on the Bitcoin vs Buttcoin debate. Now people can place their bets even BEFORE a hardfork happens. If it does, those tokens will be exchanged for the corresponding coins on each fork (BCC for Bitcoin and BCU for Buttcoin).
Funny and interesting to watch.
i don't understand how any of it works either. so you're burning existing coins to get in? do you get BTC coins back if nothing happens? |
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becoin
Legendary
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Activity: 3431
Merit: 1233
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March 19, 2017, 12:50:15 AM |
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so right now core tokens are $800, unlimited tokens are $190. gotta admit i don't really understand it but hey core is a larger amount. What does it mean? What are tokens? I dont get it. Anyone can exlain what is going on ? Nothing special really. They'll do everything for money. A bankrupted exchange is offering tools for manipulation and social engineering to whoever is willing to pay most. |
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Killerpotleaf
Sr. Member
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Activity: 812
Merit: 250
A Blockchain Mobile Operator With Token Rewards
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March 19, 2017, 12:51:14 AM |
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so right now core tokens are $800, unlimited tokens are $190. gotta admit i don't really understand it but hey core is a larger amount. What does it mean? What are tokens? I dont get it. Anyone can exlain what is going on ? the market data right now is crazy thin so i wouldnt pay much attion but this was a very smart move from bitfinex ( smart move for them to get more users ) |
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Killerpotleaf
Sr. Member
Offline
Activity: 812
Merit: 250
A Blockchain Mobile Operator With Token Rewards
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March 19, 2017, 01:00:13 AM |
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March 18, 2017 Today, Bitfinex proudly introduces trading on Chain Split Tokens (CST). The first such product of its kind, CSTs will allow Bitfinex customers to speculate on future fork events of the Bitcoin blockchain, specifically, the potential fork between Bitcoin Core and Bitcoin Unlimited. We are designating these CSTs as BCC (Bitcoin Core) and BCU (Bitcoin Unlimited).
CSTs will trade as BTC and USD pairs, initially without margin, and as will any other product with list, we will reevaluate that decision if there is sufficient liquidity.
Users will be able to create CSTs by “splitting” a bitcoin through the Token Manager (located in the Order Type drop down menu of the sidebar order ticket). Once split, the BTC will be removed from your account for each BCC and BCU added. Through the same Token Manager, you will be able to reverse this process at anytime, trading in equal numbers of BCC and BCU to extract BTC.
If no fork occurs by December 31, 2017, then BCU will expire worthless and BTC will be given in exchange for each BCC holder. If, however, there is a fork, specifically Bitcoin Unlimited, then, as soon as we list Bitcoin Unlimited, we will exchange BCU tokens for Bitcoin Unlimited tokens as well as retiring BCC tokens in favor of Bitcoin Core tokens. More detailed information can be found in the Chains Split Token Terms and Conditions.
We are planning a few additional enhancements including a realtime display of total CSTs as well as segregated cold storage for the bitcoins that have been split, which we will periodically settle to and from our hot wallet. |
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bitserve
Legendary
Online
Activity: 1820
Merit: 1464
Self made HODLER ✓
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March 19, 2017, 01:00:32 AM |
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It's a funny thing Bitfinex has created to cash on the Bitcoin vs Buttcoin debate. Now people can place their bets even BEFORE a hardfork happens. If it does, those tokens will be exchanged for the corresponding coins on each fork (BCC for Bitcoin and BCU for Buttcoin).
Funny and interesting to watch.
i don't understand how any of it works either. so you're burning existing coins to get in? do you get BTC coins back if nothing happens? Easy, an example: You take one real BTC and you place your bet: You can either buy (at present rate) 1.2 BCC or 5 BCU (aprox), or a combination of both. Then, if the hardfork happens, before 31 dec 2017, your BCC or BCU's will be trade for real Bitcoins or Buttcoins. In the meantime, you can always exchange your BCC or BCU's for real Bitcoins at whatever the rate is at that moment. It's similar to what Josh Jones did with bitcoinbuilder with GOX coins. |
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r0ach
Legendary
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Activity: 1260
Merit: 1000
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March 19, 2017, 01:03:01 AM |
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This event was foreseeable from a mile away. Me + Adam were both bearish while MatTheCat was bullish. There has never been a better indicator of where the market is headed than that. This market is trading like the DOW right now, artificially levitated.
Price has absolutely no short term upside at all
I'm out again at $1168 (no idea why the price is that high right now) and will let this market marinate.
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Biro Bob
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March 19, 2017, 01:04:41 AM |
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Who sold at the bottom?
And bought alts at the top?
lol ya really, but not me!  I am only guilty of selling ZEC to low early in the day... but still came out nicely for a day, and I'm not done yet lol And have not sold any BTC... I'm guilty of not buying DASH..... but I also have no plans to. I just feel butthurt that it rose that much. |
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Killerpotleaf
Sr. Member
Offline
Activity: 812
Merit: 250
A Blockchain Mobile Operator With Token Rewards
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March 19, 2017, 01:06:46 AM |
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we'll be back over 1000$ in no time.
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MinermanNC
Legendary
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Activity: 2198
Merit: 1000
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March 19, 2017, 01:08:19 AM |
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Who sold at the bottom?
And bought alts at the top?
lol ya really, but not me! I am only guilty of selling ZEC to low early in the day... but still came out nicely for a day, and I'm not done yet lol And have not sold any BTC... I'm guilty of not buying DASH..... but I also have no plans to. I just feel butthurt that it rose that much. Don't feel bad most of us didn't see that one coming... I mean really Dash? who would of thunk?  |
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MinermanNC
Legendary
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Activity: 2198
Merit: 1000
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March 19, 2017, 01:10:25 AM |
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we'll be back over 1000$ in no time.
Yep! 1k incoming,,,, maybe people are giving up the debate or just willing to get back to normal and let the chips fall where they may with BU... who knows lol |
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leowonderful
Legendary
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Activity: 1624
Merit: 1129
Bitcoin FTW!
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March 19, 2017, 01:12:39 AM |
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we'll be back over 1000$ in no time.
Yep! 1k incoming,,,, maybe people are giving up the debate or just willing to get back to normal and let the chips fall where they may with BU... who knows lol Especially now that the coins are all out of the weak-handed guys and people that fell for FUD and panicked about the drop and BTU we'll face pretty low resistance up to 1000 and beyond (hopefully). Been a long downward trend recently but looks like that will now be reversed. Still HODLing as usual  |
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Biro Bob
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March 19, 2017, 01:19:47 AM |
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we'll be back over 1000$ in no time.
Yep! 1k incoming,,,, maybe people are giving up the debate or just willing to get back to normal and let the chips fall where they may with BU... who knows lol Someone made the analogy of increasing the blocksize of going from 1MB to 2MB to 4MB etc.. as the equivalent of going from 2400 to 14.4k, 28.8k, 33.6 modems etc... Whats the problem with that? My 28.8 was awesome compared to my 14.4. You're not going to have rapid VISA scale transactions on a blockchain. Bitcoin works as it is... not necessarily for buying coffee... but in terms of 'adoption' it has a much wider circulation than any alt coin and can shift large chunks of money around relatively quickly. |
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MinermanNC
Legendary
Offline
Activity: 2198
Merit: 1000
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March 19, 2017, 01:27:27 AM |
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We'll watch that chain split coin token on Bitfinex, but I would dare say other exchanges will be offering up split coin tokens as well, should there be an interest. Some may even get clever and find a way to split against an Alt lol What a perfect wagering game.. BU This could get interesting... |
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bitserve
Legendary
Online
Activity: 1820
Merit: 1464
Self made HODLER ✓
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March 19, 2017, 01:35:15 AM |
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we'll be back over 1000$ in no time.
Yep! 1k incoming,,,, maybe people are giving up the debate or just willing to get back to normal and let the chips fall where they may with BU... who knows lol Someone made the analogy of increasing the blocksize of going from 1MB to 2MB to 4MB etc.. as the equivalent of going from 2400 to 14.4k, 28.8k, 33.6 modems etc... Whats the problem with that? My 28.8 was awesome compared to my 14.4. You're not going to have rapid VISA scale transactions on a blockchain. Bitcoin works as it is... not necessarily for buying coffee... but in terms of 'adoption' it has a much wider circulation than any alt coin and can shift large chunks of money around relatively quickly. The problem is that blockchain is suppossed to be a decentralised network. And for each doubling in block size you are wasting double reasource multiplied for each bitcoin node. Also, at present time, the resources needed in bandwidth and storage are so heavy that the number of nodes has remain almost constant for past years while the price and hashrate has been rising and rising. At this time, you either have to choose between a (sorta) decentralised blockchain with small blocks or a more centralised blockchain with bigger blocks. A compromise is segwit+LN which is the only really scalable solution. Some miners don't like segwit+LN because that means many transactions would be done at LN layer and they wouldn't get a fee of that transactions. Maybe they could grow their current business by setting LN hubs themselves to get a piece of that cake... But I guess they are too obtuse to realise that posibility. |
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bones261
Legendary
Offline
Activity: 1806
Merit: 1826
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March 19, 2017, 01:35:44 AM |
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We'll watch that chain split coin token on Bitfinex, but I would dare say other exchanges will be offering up split coin tokens as well, should there be an interest. Some may even get clever and find a way to split against an Alt lol What a perfect wagering game.. BU This could get interesting... What are they backing up these scam tokens with? Why would I want to buy scam tokens on finex when I can just buy BTC, and I'll have both BTC and BTU when and if the fork happens. I took a haircut, due to their "hack" and haven't been back since. I still have $.14 there. They can keep it. |
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marcus_of_augustus
Legendary
Offline
Activity: 3920
Merit: 2348
Eadem mutata resurgo
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March 19, 2017, 01:36:44 AM |
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The Jihadi Woo malicious miner problem is something of nightmares for bitcoin but maybe the final test before mainstream adoption nirvana.
One thing Woo (and idiot Ver) may not have accounted for is by centralising so much power around themselves they are now major targets for any variant of the $5 wrench attack motivated by an incentive for control over a $20 billion monetary security system (or its demise) .... not smart guys by any stretch of the imagination. They might want to start spending that "$100 millions" they budgeted on attacking core (100's of decentralised developers) on some high class personal security.
You would think Ver knows enough of the cypherpunk history to know what happened to e-Gold, Liberty Reserve, e-Bullion, etc central actors. If you want to go centralised with your digital money expect to become the prime target for some major league criminals.
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Biro Bob
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March 19, 2017, 01:38:55 AM |
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we'll be back over 1000$ in no time.
Yep! 1k incoming,,,, maybe people are giving up the debate or just willing to get back to normal and let the chips fall where they may with BU... who knows lol Someone made the analogy of increasing the blocksize of going from 1MB to 2MB to 4MB etc.. as the equivalent of going from 2400 to 14.4k, 28.8k, 33.6 modems etc... Whats the problem with that? My 28.8 was awesome compared to my 14.4. You're not going to have rapid VISA scale transactions on a blockchain. Bitcoin works as it is... not necessarily for buying coffee... but in terms of 'adoption' it has a much wider circulation than any alt coin and can shift large chunks of money around relatively quickly. The problem is that blockchain is suppossed to be a decentralised network. And for each doubling in block size you are wasting double reasource multiplied for each bitcoin node. Also, at present time, the resources needed in bandwidth and storage are so heavy that the number of nodes has remain almost constant for past years while the price and hashrate has been rising and rising. At this time, you either have to choose between a (sorta) decentralised blockchain with small blocks or a more centralised blockchain with bigger blocks. A compromise is segwit+LN which is the only really scalable solution. Some miners don't like segwit+LN because that means many transactions would be done at LN layer and they wouldn't get a fee of that transactions. Maybe they could grow their current business by setting LN hubs themselves to get a piece of that cake... But I guess they are too obtuse to realise that posibility. Sorry. I didn't mean 2MB, 4MB etc.. i was thinking more in terms of scaling upto < 2MB. So that could be 1.1MB or 1.2MB blocks. |
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