sirazimuth
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born once atheist
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November 11, 2017, 01:17:12 PM |
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good opportunity to buy more. i dont know where the bottom will be so i'm buying 0.05 at every $300 drop  JJ will be proud of you... |
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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d_eddie
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November 11, 2017, 01:24:31 PM |
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Your posts are always well reasoned, tought-provoking and informative, LewisPirenne. I am interested in your opinion. People are spamming the mempool with 1300 satoshi/byte tx, i.e. paying 3~5 mbtc per 225 byte standard tx, and most go to fee with only dust remaining, to lock up the tx in mempool during this BCH pump. But BTC+BCH is actually getting lower and lower in total, meaning someone is killing that golden goose that had just kept on giving so far.
Maybe the cartel will do a flippening on ETH just for lolz. But if some insiders can flippen ETH in marketcap just like this, then it's actually really bearish for the entire crypto world. Because imagine what would happen when the real professional pumpers, i.e. Wall Street banksters, come on the scene.
I don't understand very well. In your opinion, does this bearish outlook get triggered only if there is an ETH flippening during the BCH fork scope? My gut feeling (not well thought out) is that of a simple cartel maneuver to pump BCH. The S2X might or might not have been just a diversion - I haven't figured out yet. Also, the nonzero value of S2X futures isn't clear to me. An explanation in this thread (Marcus or Torque? Can't remember) said it's the premium for early redemption of... of what? How does that fact fill in your understanding of the current situation? |
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CristiTCM
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November 11, 2017, 01:27:37 PM |
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Do you guys see BCH a treat for BTC? BCH is now $1200+, BTC took years to reach that kind of level
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FractalUniverse
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November 11, 2017, 01:30:32 PM |
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i dont see threat from BCH at all. This is just huge pump to lure sheep money into it
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sirazimuth
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born once atheist
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November 11, 2017, 01:31:09 PM |
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Bitcoin Crash fast becoming Bitcoin Smash!...
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kurious
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November 11, 2017, 01:32:00 PM |
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Do you guys see BCH a treat for BTC? BCH is now $1200+, BTC took years to reach that kind of level
Ahem.. Just sayin' - but BTC was less than that a year ago. Don't get me wrong, I am BTC through and through, but.... |
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ivomm
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All good things to those who wait
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November 11, 2017, 01:33:07 PM |
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This reminds me when Ver pumped Zcash in Poloniex to 3 200 BTC and then booom!!! Back to 0.5 BTC. So many people lost their money, never to get them back! Now the same is going to happen with BCH. The bigger the pump, the deeper the dump  |
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LewisPirenne
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November 11, 2017, 01:34:57 PM
Last edit: November 11, 2017, 02:00:34 PM by LewisPirenne |
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Your posts are always well reasoned, tought-provoking and informative, LewisPirenne. I am interested in your opinion.
I don't understand very well. In your opinion, does this bearish outlook get triggered only if there is an ETH flippening during the BCH fork scope?
My gut feeling (not well thought out) is that of a simple cartel maneuver to pump BCH. The S2X might or might not have been just a diversion - I haven't figured out yet. Also, the nonzero value of S2X futures isn't clear to me. An explanation in this thread (Marcus or Torque? Can't remember) said it's the premium for early redemption of... of what? How does that fact fill in your understanding of the current situation?
Sorry, I should have been more clear about what I am saying. There is a joke from yesterday that the cartel is going to do a marketcap flippening of BCH to replace ETH as the 2nd largest coin in marketcap, i.e. around $25~30 billion. But of course, it all depends on the cross rate and BTC market cap. So if BTC keeps going down and dragging down ETH too, the flippening of BCH against ETH is made easier. But naturally, that would be bearish as heck, since the coins that are doing all the real work and innovation, i.e. BTC and ETH, actually get over taken by some cartel of pumpers and miners. That would disillusion a lot of people in the crypto space. |
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Torque
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November 11, 2017, 01:37:20 PM |
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So to all you guys peeing your wittle panties:
When Btrash price is going down or not moving, you are convinced that it is total garbage.
But when Btrash price is rising, suddenly you guys think that it's the greatest thing ever, and now you are "worried" about Bitcoin?
Lizard brains are lizarding hard. There's likely a good reason your wives/girlfriends think you are utterly stupid.
Buy more bitcoin. That's all you have to do. The market will take care of the rest.
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DeathAngel
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#1 VIP Crypto Casino
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November 11, 2017, 01:39:49 PM |
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Significant dump this is, it’s not going to get much worse though, surely. I hope 6k stays strong.
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BitcoinBunny
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November 11, 2017, 01:40:49 PM
Last edit: November 11, 2017, 01:58:57 PM by BitcoinBunny |
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Bitcoin Cash going towards $1500. Kraken won't even load.
There is a huge lure here to transfer BTC to BCH quickly to try to make some more BTC if you sell before the dump.
Problem is when the ATH of BCH is reached is anyone's guess. I was considering doing this yesterday and sell before midday tomorrow (BST). But it is very risky. Transfer services such as Kraken will most likely not be online when you want to switch.
But a BCH dump will definitely come. There is totally no infrastructure to back this bump. Bitcoin has payment gateways all over the world. BCH is a joke. Most of its value was held probably because many don't even know or some don't even dare to cash out with potential risk that was involved.
Wouldn't surprise me BCH reaches $2500. BTC $5400. And then BHC smashes down to $350 Monday morning. BTC back up to $7500.
BTC could have FOMO momentum to push it beyond 8K early this week.
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CristiTCM
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November 11, 2017, 01:42:24 PM |
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Significant dump this is, it’s not going to get much worse though, surely. I hope 6k stays strong.
Set up my last buying order at 6k. Hope you are right. |
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fabiorem
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November 11, 2017, 01:42:39 PM |
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Why BTC devs dont change the PoW so that BTC depend less from miners than now?
Why do we run BTC nodes? If we depend on miners to confirm transactions, what is the use in downloading the entire blockchain to your computer? Should not the nodes confirm those transactions too?
The impression I have is that bitcoin is being kept hostage from miners.
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sirazimuth
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born once atheist
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November 11, 2017, 01:42:57 PM |
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As most in here know, in crypto, epic pumps are always followed
by spectacular crashes. Will this be any different?
I suppose one's prediction depends on whose camp one is in....
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LewisPirenne
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November 11, 2017, 01:51:10 PM
Last edit: November 11, 2017, 04:00:34 PM by LewisPirenne |
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As to why S2X future even has values, it's the reason that people have stated before. That is, in order to sell your S2X future when it goes live a month ago, you need to split your coins into BT1 and BT2. Now when that BT2 is worthless at 5 mbtc as news came out, people buy back (short cover) BT2 to re-combine with BT1 so that they can get back their original BTC and tx out of Bitfinex. Because seriously, who would want hold BTC a minute longer than needed on Bitfinex? Thus there is more people who want to buy back their BT2 to tx out than the losers who got rekted, but refused to realize loss, and hoped that some S2X dev will copy-paste BCH's EDA and replay-protection, so that they can at least hope for a pump later.
When S2X future is almost worthless, you are taking counterparty risk by holding that contract and keeping your BTC on Bitfinex.
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fragout
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November 11, 2017, 01:55:51 PM |
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Its so obvious to all here that BCH pump is Ver/Wu but probably not to the average investor. Im really disillusioned atmo that a very small group can manipulate an entire market in this way.
He even announced it on twitter before the pump. "#BitcoinCash will win wider adoption than 1MB Segwit Bitoin shortly." 19 hours ago.
Possible with fake money too such as the 30 million tether that was issued a few days ago.
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BitcoinBunny
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November 11, 2017, 01:58:09 PM |
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BCH already dumping back to BTC.
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sirazimuth
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born once atheist
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November 11, 2017, 02:01:06 PM |
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This is all a huge conspiracy to detract from the epic Bitcoin Gold launch!... the one and only true bitcoin!! (That was a joke BTW.... ) |
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Torque
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November 11, 2017, 02:04:39 PM |
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Its so obvious to all here that BCH pump is Ver/Wu but probably not to the average investor. Im really disillusioned atmo that a very small group can manipulate an entire market in this way.
He even announced it on twitter before the pump. "#BitcoinCash will win wider adoption than 1MB Segwit Bitoin shortly." 19 hours ago.
Possible with fake money too such as the 30 million tether that was issued a few days ago.
The true irony is that the BCH supporters demand lower transaction fees, but they can't spend BCH at any merchants other than maybe a few obscure ones. Lol. That reality seems to be completely lost on them. Just like the ETH camp, they literally could give two shits that they can't spend ETH anywhere and probably never will be able to. |
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Gab0
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November 11, 2017, 02:05:55 PM |
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I think that the competition between BTC and BCH is totally legitimate and can even benefit both chains. The two chains will be forced to offer greater utility and benefits to users, investors and miners. BTC on the one hand is currently under pressure to keep fees low and launch LN, and BCH correct malleability problems to make way for second layer solutions and decentralize mining. The strongest and fittest chain will survive. The true irony is that the BCH supporters demand lower transaction fees, but they can't spend BCH at any merchants other than maybe a few obscure ones. Lol. That reality seems to be completely lost on them.
That would change if Bitpay decides to accept BCH Why BTC devs dont change the PoW so that BTC depend less from miners than now?
Because it's a much more controversial change than an x2 increase in block size? |
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