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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21451632 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (135 posts by 29 users deleted.)
DharmaBum
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June 14, 2017, 02:27:12 PM


What are your thoughts on possible FRS interest rate decision influence on BTC?
All markets are inevitably interdependent despite our eager willingness to distance from the conventional financial system. Hence the question arises concerning the scale of such impact. Maybe there is some retrospective statistics or other data which could shed some light on this issue?
 
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June 14, 2017, 02:38:38 PM

Is Bitstamp referring to lightning network transactions.

I was going to say Huobi looked quite stable going sideways.   However Kraken lost its channel, the recent recovery then at top marked the underside of that trend finding it as a ceiling.  We then went sideways and now down.  
The low being seen now is prices that match end of May, with a trend drawn then as a ceiling (before started a 2nd leg down).   So its reasonable previous price action in effect.

It looks quite 'droopy' overall, however Im seeing previous trends that bears will need to climb over to continue down.    I'll say negative short term till we challenge 2700, which is not soon is my guess.   I'm looking support, confirmation around 2275 if the 2414 may end ceiling marker doesnt hold the rough trend in play from April is far more substantial.   Basically looking at retrace of the last recovery and market requires more confirmation to continue any uptrend.
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June 14, 2017, 02:40:25 PM

Is Bitstamp referring to lightning network transactions.


Yes. Because the're adding Litecoin this week.
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June 14, 2017, 02:42:02 PM

Thanks for your reply, bitserve.

I recently made myself a new account on Bitmex, mainly I'd like to lend crypto for interest. I have a couple questions.

1. What do you think of that exchange? Is it fair, honest etc? As a non-US citizen, it is one of the few exchanges that will let you trade and withdraw BTC without too much ID hassle.

2. Do you think it is possible to lend out a small part of my btc? I'm talking 0.5-1 btc.

3. Is this the right forum for such questions? If it isn't, please point me to a more appropriate discussion on bitcointalk, and I will delete this post from here.

If your stash is smaller than it could be because of mtgox or any other exchange issues and your are now thinking about lending in bitmex, then your learnt nothing.
I actually learnt my first and only lesson about exchanges before the Gox affair. I lost about 12 btc (roughly 600$ at the time). I did get 300$ compensation 6 months later. A cheap lesson, in my opinion.

Now I"m just trying to learn about trading small amounts. Mostly I'm interested in lending, which appears to be as low risk as it comes. What I specially like about this kind of trading is that all profits and losses are denominated in btc and fiat never enters the equation.

Any advice about where to go study, where to discuss etc. will be most welcome.
Thanks again!
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June 14, 2017, 02:48:49 PM

- Don't you think miners have already enough power with their hashrate ...

Yes.

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... that if they "win" this game they will be too much powerful...?

No.

Allow me to explain. The miners have exactly as much power as they have (is that a tautology?). The outcome of this will not change the balance of power. The fact of the matter is that in the system that Satoshi designed, the only power that stands against the miners making any changes they so desire is the power of the users to abandon the chain, making it worthless.

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...than desirable?

Kind of. Not exactly. I regret that I did not fully understand Satoshi's design back in the early days of ASICs / late days of FPGAs. I -- along with the vast majority of the community -- abdicated my role within the power structure of Bitcoin. All the more regrettable, as I once participated as a (not insignificant) miner. But the simple fact is that we collectively ceded our power to a small collection of specialists.

But just as DiscusFish once had the clout to 51% the network on their own (which, BTW, they chose not to do), this too shall pass. As Bitcoin continues to grow in world monetary scale, it will eventually attract a new class of silicon vendors. Ones that exist already to sell silicon in general terms - not to specialize in the arcane details of the merchant Bitcoin mining business. With their own leading-capability fabs, they will be able to outcompete BitMain's model of outsourcing their fab production. And these high-volume silicon vendors will sell their wares to manufacturing powerhouses, who will in turn sell their mining systems to the populace at large on open terms. And we will all be able to get back into small-scale mining. Harvesting the waste heat to useful ends (residential water heaters being an obvious first target of opportunity?). Collectively outweighing the centralized mining houses. Likely still dependent upon pools, but not captive to the whims of the mining company CEOs.

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- From what you have just said, I think you are not against Segwit/LN, are you?

Not really. There are some aspects of The SegWit Omnibus Changeset that I like, others that I think would be better solved in other ways, and others that I dislike. But I'm not against it just for the sake of being against it.

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I "think" you are much more invested in Bitcoin than I am,

No idea. Other than pretty much everyone that I know would be downright astonished to learn the value of my Bitcoin holdings. Read into that what you will.

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so I supposse whatever you support you do it in your belief that it will be a price boost instead of the oppossite.

Absolutely.

Quote
Also you seem to be "tech inclined" so that's why I want to understand your position.

While not particularly literate in Bitcoin tech (i.e., I've not studied to the point where I would be a competent Bitcoin dev, though with study it is certainly not beyond my capabilities), I am indeed tech inclined. My day gig is in a significant tech position with a significant tech company.

Thanks for considering my position on its merits.
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June 14, 2017, 02:49:34 PM

Is Bitstamp referring to lightning network transactions.


Yes. Because the're adding Litecoin this week.

ImI
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June 14, 2017, 02:52:20 PM

Is Bitstamp referring to lightning network transactions.


Yes. Because the're adding Litecoin this week.



Nope, i expect they will go one step beyond and will add IOTA.
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June 14, 2017, 02:54:12 PM

Guys dont you think ETH or ZEC gonna take BTC positions in the future Huh
So BTC will be much cheaper and ETH with ZEC about 1000 $
 Huh Huh Huh
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June 14, 2017, 02:56:58 PM

Nope, i expect they will go one step beyond and will add IOTA.

They're a considerably classier operation than Bitfinex and would give a decent amount of signalling before doing that.
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June 14, 2017, 02:58:24 PM

Nope, i expect they will go one step beyond and will add IOTA.

They're a considerably classier operation than Bitfinex and would give a decent amount of signalling before doing that.

Let's see.
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June 14, 2017, 03:15:48 PM

Is Bitstamp referring to lightning network transactions.


Yes. Because the're adding Litecoin this week.



Nope, i expect they will go one step beyond and will add IOTA.

LTC will probably launch tomorrow on Bitstamp.... wondering if there will be a LN releated announcment to go with it...... also I wonder if another exchange may join in too... i.e say Coinbase

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June 14, 2017, 03:18:06 PM

Is Bitstamp referring to lightning network transactions.


Yes. Because the're adding Litecoin this week.



Nope, i expect they will go one step beyond and will add IOTA.

LTC will probably launch tomorrow on Bitstamp.... wondering if there will be a LN releated announcment to go with it...... also I wonder if another exchange may join in too... i.e say Coinbase



Bitstamp will be a good option - I can see coinbase dragging their heels - but will probably add if every other exchange does
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June 14, 2017, 03:37:54 PM

Moving to AMP now:


Just sick and tired of all this drama that comes with bitcoin.
Ala miners fees going thru the roof, with even casinos asking for triple the amount needed to be able to withdraw from you own wallet.
And the wait for transactions going on and on and on.

Just to hell with it! Angry
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June 14, 2017, 03:56:44 PM

also I wonder if another exchange may join in too... i.e say Coinbase

FWIW, Litecoin is already available on Coinbase.
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June 14, 2017, 03:58:55 PM

The most realistic near future scenario I've seen was in an anime called Gundam Zero, where 300 years into the future, the planet is powered by solar energy harvested from panels in low earth orbit, connected to three orbital elevators. Poor countries had to buy power by setting up microwave antennas. The robots (or mobile suits) were just for fun I guess, hehehe.

That's kinda still ... 300 years from now. I imagine just a few decades to maybe a couple hundred years, someone will just make giant floating solar panel arrays in the equator (in international waters)

Kardashev scale https://en.m.wikipedia.org/wiki/Kardashev_scale

Yeah, and I think we won't even be a full Type 1 civilization in the anime. Maybe Type Half or something. We'd have to completely blanket our planet with solar panels and that's just crazy. 10% of the surface ought to do the trick, then humans would start thinking about going farther out, to the moon, to mars, or whatever.

I don't see how we can turn Earth into Trantor or Coruscant; but we'd all be long dead by that time.


Power production would be decentralized among different private entities or ultra rich individuals, and if any of them mine bitcoins directly, no one would fork it still. Most probably the energy providers will just want to make money selling electricity and could care less what you do with it as long as you paid first. Go make weed, or go make bitcoins, I don't care, here's how much you owe me per kilowatt hour.
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June 14, 2017, 04:20:26 PM

also I wonder if another exchange may join in too... i.e say Coinbase

FWIW, Litecoin is already available on Coinbase.

Yeah I was referring to Lightning Network
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June 14, 2017, 04:32:40 PM

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June 14, 2017, 04:56:07 PM

Another dump.

Will the price test $2000 again or are we going to see higher lows?

Will the price test $3000 again until august?
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June 14, 2017, 04:59:01 PM

Another dump.

Will the price test $2000 again or are we going to see higher lows?

Will the price test $3000 again until august?

3000*0.35=1050USD
3000-1050USD=1950USD/BTC and then clear road to 4000USD Cool
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June 14, 2017, 05:04:48 PM



Great.

https://en.wikipedia.org/wiki/The_Hitchhiker%27s_Guide_to_the_Galaxy_(film)
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