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ghandi
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October 24, 2017, 12:11:34 PM |
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So, the previous correction was around 12% (~$5800 to ~$5100). The recent low at ~$5300 was ~12% of the last ATH (~$6100). Time to go up again. Plz!  |
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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fragout
Legendary
 Offline
Activity: 1279
Merit: 1018
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October 24, 2017, 12:29:02 PM |
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All this talk about people & Bitcoin...
Over the years I have dealt with so many people asking about Bitcoin. It's uncanny how exactly alike all their thought processes are:
2013: wtf is this shit, it's a bubble, nerd money, governments will destroy it, it doesn't have any value because it's not regulated/controlled. It's too late to buy now anyway.
2014: told you it was crap nobody cares
2015: *crickets*
2016: I wish I bought Bitcoin a year ago. You are so lucky!! Now it's too late for me.
2017: I wish I bought Bitcoin a year ago. You are so lucky. Now it's too expensive for me. I realize I can buy just a fraction but my ego doesn't allow me to be content with just a fraction of an arbitrary numerical division of the thing. But have you heard about Ethereum? Or Shitcoin xyz? Someone said it's the next Bitcoin and it has been going up and I can actually afford to buy one! *proceeds to not buy anything*
2018: I wish I bought Bitcoin a year ago...
I don't care. I don't preach. All I do is explain the technology and its implications for society to those who show genuine interest. Why should I wish unjust rewards on those who clearly don't deserve them? Bitcoin is a revolutionary technology with a promise of changing society to the better. Because it is a monetary technology, those of us with enough vision to see the potential, risk our own money and enough nerve to hold through the FUD, haters, bear markets, hacks and laughter get rewarded. Simple as that. The guy who laughed it off in 2014 and felt he "missed the boat" in 2017 will end up buying some in 2023 together with his gradma.
This sums it up perfectly. I have a good friend that i introduced to bitcoin in 2013 when it was around $100. He was more or less convinced and pledged to buy 1 (both he and I were pretty broke at the time). Alas he didn't and bitcoin went on its first big pump to $1200. He was not pleased. As btc crashed though, he became more confident that he made the right choice. Today we are still good friends but i dare not bring up the subject of bitcoin |
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Torque
Legendary
Offline
Activity: 3542
Merit: 5039
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October 24, 2017, 12:36:28 PM
Last edit: October 24, 2017, 12:59:33 PM by Torque |
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Today we are still good friends but i dare not bring up the subject of bitcoin
The same type of people who cannot see or grasp how high yearly inflation is making them poorer and poorer even if their yearly wage doesn't change or even goes up a little bit every couple of years. If your net worth is not rising at least 8-10%/per year on average and EVERY year, you are really falling behind and don't realize it. You need that just to have your purchasing power stay even. |
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600watt
Legendary
Offline
Activity: 2338
Merit: 2106
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October 24, 2017, 01:10:31 PM |
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great article. I was hooked. But I still couldn't bring myself to talk about Bitcoin publicly.
Blockchain was easier to talk about – it made me appear to be on the cutting edge and allowed me to avoid the dirty looks and the hushed whispers that followed any mention of Bitcoin. When I talked about blockchain, friends and colleagues would listen intently and engage me with questions about this wondrous new technology. However, once I mentioned Bitcoin they would pull me aside and ask how I was feeling, not so subtly questioning my mental clarity.
Blockchain made me feel good, but there was something missing; there was something hollow about blockchain without Bitcoin. I went back and re-examined my first encounter with Bitcoin in an attempt to discover where we had gone wrong. https://www.forbes.com/sites/briankelly/2017/10/24/why-bitcoin-matters-more-than-blockchain/#778f65a437ac |
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Dakustaking76
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October 24, 2017, 01:23:32 PM |
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So Whats up with bitcoin gold?
The fork happend ore still gonne happen?
Witch Exchange site's are supporting btcgold??
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Torque
Legendary
Offline
Activity: 3542
Merit: 5039
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October 24, 2017, 01:32:12 PM |
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great article. I was hooked. But I still couldn't bring myself to talk about Bitcoin publicly.
Blockchain was easier to talk about – it made me appear to be on the cutting edge and allowed me to avoid the dirty looks and the hushed whispers that followed any mention of Bitcoin. When I talked about blockchain, friends and colleagues would listen intently and engage me with questions about this wondrous new technology. However, once I mentioned Bitcoin they would pull me aside and ask how I was feeling, not so subtly questioning my mental clarity.
Blockchain made me feel good, but there was something missing; there was something hollow about blockchain without Bitcoin. I went back and re-examined my first encounter with Bitcoin in an attempt to discover where we had gone wrong. https://www.forbes.com/sites/briankelly/2017/10/24/why-bitcoin-matters-more-than-blockchain/#778f65a437acYep, that guy gets it. Here's another good quote: Without the currency, there would be no incentive for people to spend money on the computers needed to run the Bitcoin software. Blockchain without Bitcoin replicates the same financial system already in existence. There may be some efficiency gains through sharing private distributed ledgers, but blockchain without Bitcoin is not one of the most important innovations in the history of finance.
This finance guy grasps it, but for some reason Jamie Dimon cannot? Or does but won't cop to it... |
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ghandi
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October 24, 2017, 01:57:35 PM |
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So Whats up with bitcoin gold?
The fork happend ore still gonne happen?
Witch Exchange site's are supporting btcgold??
CoinMarketCap lists it in "pre-launch" mode. The fork already happened at block 491407. |
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vroom
Legendary
Offline
Activity: 1302
Merit: 1681
a Cray can run an endless loop in under 4 hours
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October 24, 2017, 01:59:40 PM |
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So Whats up with bitcoin gold?
The fork happend ore still gonne happen?
Witch Exchange site's are supporting btcgold??
CoinMarketCap lists it in "pre-launch" mode. on bitfinex it's already active: https://cryptowat.ch/bitfinex/btgbtc/15m |
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Torque
Legendary
Offline
Activity: 3542
Merit: 5039
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October 24, 2017, 02:06:59 PM |
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Dakustaking76
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October 24, 2017, 02:34:38 PM |
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Kraken isnt supporting? So can i move my coins to bitfinex to get my free coins? |
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samsonn25
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October 24, 2017, 02:38:42 PM |
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Kraken is the worse broker exchange i have ever traded with. 90% of my orders get cancelled because their trading platform is too slow or not synced correctly. I expect to get an order confirmation in less than 1 sec. Not 30-45 sec then a timeout or crash.
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ghandi
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October 24, 2017, 02:52:27 PM |
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Kraken once was a nice place to trade. But indeed, the recents month it was mostly unusable.
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cAPSLOCK
Legendary
Offline
Activity: 3738
Merit: 5127
Whimsical Pants
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October 24, 2017, 03:26:59 PM |
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great article. I was hooked. But I still couldn't bring myself to talk about Bitcoin publicly.
Blockchain was easier to talk about – it made me appear to be on the cutting edge and allowed me to avoid the dirty looks and the hushed whispers that followed any mention of Bitcoin. When I talked about blockchain, friends and colleagues would listen intently and engage me with questions about this wondrous new technology. However, once I mentioned Bitcoin they would pull me aside and ask how I was feeling, not so subtly questioning my mental clarity.
Blockchain made me feel good, but there was something missing; there was something hollow about blockchain without Bitcoin. I went back and re-examined my first encounter with Bitcoin in an attempt to discover where we had gone wrong. https://www.forbes.com/sites/briankelly/2017/10/24/why-bitcoin-matters-more-than-blockchain/#778f65a437acYep, that guy gets it. Here's another good quote: Without the currency, there would be no incentive for people to spend money on the computers needed to run the Bitcoin software. Blockchain without Bitcoin replicates the same financial system already in existence. There may be some efficiency gains through sharing private distributed ledgers, but blockchain without Bitcoin is not one of the most important innovations in the history of finance.
This finance guy grasps it, but for some reason Jamie Dimon cannot? Or does but won't cop to it... The whole "blockchain is the real game changer, bitcoin will fade" argument shows such a misunderstanding of what blockchain and bitcoin is and how it works. You cannot have an immutable distributed ledger without the token. The good news is those of us who are beginning to grasp the novel situation we have been in for 8 years still have time to exploit those who do not, or choose not to open their eyes. I used to feel sorry for them. But I don't anymore. Everyone makes their choices. |
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JimboToronto
Legendary
Offline
Activity: 3990
Merit: 4461
You're never too old to think young.
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October 24, 2017, 03:35:51 PM
Last edit: October 24, 2017, 03:47:04 PM by JimboToronto |
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Good morning Bitcoinland. So they took their AltcoinGold "snapshot" of the Bitcoin blockchain last night, I see. As anticipated, many trading enthusiasts immediately dumped the bitcoins they had bought just to get their addresses in the picture, despite the fact that they'll still have to wait until the weasels pre-mine their ripoff "development" coins and deal with a lack of replay protection. I'm glad most of my coins are safe and sound in ancient paper wallets. They're not getting my keys. The result is a dip down to yesterday's early levels... currently $5656USD/$7155CAD (Bitcoinaverage). Most altcoins are up, including AltCash at $337USD/$426CAD (Coinmarketcap). Decent dip in the last 24 or so hours. Large enough to make even Jimbo happy, probably. We'll know soon enough! As I said yesterday, a dip down to a price $500 higher than I paid less than a week ago isn't a deep enough dip for me to buy... yet. Maybe if we drop below $5.3k. In the past week we've seen it go from $5101 to $6180 and back down to $5534 (Stamp). This time last year we were dreaming of quadruple digits. Now it bounces up and down by more than a grand in a few days. |
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ghandi
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October 24, 2017, 03:46:29 PM |
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How is this possible? BTG lacks a replay protection, so no sane man would currently transfer it's BTG to Bitfinix, because their BTC would be at stake... Did BFX already credit BTG to BTC holders? |
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Torque
Legendary
Offline
Activity: 3542
Merit: 5039
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October 24, 2017, 03:49:00 PM |
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How is this possible? BTG lacks a replay protection, so no sane man would currently transfer it's BTG to Bitfinix, because their BTC would be at stake... Did BFX already credit BTG to BTC holders? People need to be very careful, they may unwittingly be trading something that is NOT even their BTG. Any fork of Bitcoin could be used at this point, with no way to confirm what it even is... a name means nothing. Don't just blindly trust exchanges. |
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marcus_of_augustus
Legendary
Offline
Activity: 3920
Merit: 2348
Eadem mutata resurgo
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October 24, 2017, 04:00:51 PM |
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Lost all respect for the guy ... maybe he was made an offer he couldn't refuse, ".... front up this S2X fork shitshow and we'll shower you with ICO ethereum cash ... or else" OR ... Psychopaths are good ...?? |
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JimboToronto
Legendary
Offline
Activity: 3990
Merit: 4461
You're never too old to think young.
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October 24, 2017, 04:09:41 PM |
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People need to be very careful, they may unwittingly be trading something that is NOT even their BTG. Any fork of Bitcoin could be used at this point, with no way to confirm what it even is... a name means nothing. Don't just blindly trust exchanges.
You're probably wasting your breath. It doesn't matter how often you tell trading addicts to keep their coins safely away from exchanges. That's one of the basic differences between Bitcoiners and traders. The very first paragraph of Satoshi's white paper points to trustlessness as the raison d'etre for Bitcoin. Traders are more than willing to trust exchanges and online wallet services. Wasn't MtGox enough of a lesson of what can happen when you give up your private keys? |
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