All posts made by rolling in Bitcointalk.org's Wall Observer thread
1.
Post 3091555 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_11.15h):
SHA 256 was developed by the NSA and the article says they developed encryption they could break. Why would they develop encryption they couldn't break? So, if they can hack it or have a back-door, someone else may figure out a way.
http://en.wikipedia.org/wiki/Secure_Hash_Algorithmhttp://en.wikipedia.org/wiki/SHA-2http://en.wikipedia.org/wiki/National_Security_Agency
2.
Post 3102089 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_11.15h):
A new US-based exchange (CoinMKT.com) opened last night with Dwolla as a deposit option. It will be interesting to see if this has any affect going forward.
US-based, professional looking site, multiple currencies, founders show their face publicly (
https://coinmkt.com/#/about_us) and are not dodging AML&KYC compliance.
Interesting. Definitely keep an eye on this exchange.
Model turned MSB?
http://www.travisskweres.com/#/modeling
3.
Post 3133857 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_11.15h):
Could a whale buy 2-3000 BTC at once to push the price up and then sell them 1 at a time every few seconds to prevent the price from crashing. Rinse and repeat?
4.
Post 3134090 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_11.15h):
Damn, that is crazy. Its actually [At least, looks to me] every 5 to ?? seconds. [Originally saw max of 20, now 51. Hmm]
Ive only watched it for a short while, but it looks like an average is right around 10 seconds.
Now, as interesting as it is to consider its a bot trying to get top dollar for the asks.. wouldnt it really just make more sense to market sell into the 140 wall? Yes, yes, 66 cents less.. but.. no risk. And, chance of triggering more sells -> lower buy back price.
What if the "1 BTC Seller" is the same person as the 2400 BTC wall at 140? Wants to sell a bunch of BTC to load up for the next push without losing too much ground on the last push. I am thinking up from here once he has sold it all or he runs out of buyers above 140.
5.
Post 3153615 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_11.16h):
I really don't get all this talk about withdrawing dollars from Gox. I know my money has been in Gox for a long time and I have no intention of withdrawing it. I invested in Bitcoin with that money and that is where it will stay. I could move to Bitstamp but the green homepage is almost unbearable to look at and there is almost no action over there. I buy and sell on Gox because that's where the big price moves happen. I go back and forth between Dollars and BTC but why would I withdraw? I am guessing the whales are in the same situation. Its all about acquiring more Bitcoin and Gox is where the action is.
6.
Post 3154302 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_11.16h):
I really don't get all this talk about withdrawing dollars from Gox. I know my money has been in Gox for a long time and I have no intention of withdrawing it. I invested in Bitcoin with that money and that is where it will stay. I could move to Bitstamp but the green homepage is almost unbearable to look at and there is almost no action over there. I buy and sell on Gox because that's where the big price moves happen. I go back and forth between Dollars and BTC but why would I withdraw? I am guessing the whales are in the same situation. Its all about acquiring more Bitcoin and Gox is where the action is.
It takes a special kinda retard to invest like this. Whats the problem guys it is just and exchange that you cant use to exchange?.. nothing to see here folks move along. If people are stupid enough to use the strategy you deserve to lose your money.
bitstamp 43.40% 8454.90 124.89 USD
mtgox 37.02% 7211.98 138.22 USD
Retard? People sure get brave when they're sitting behind a computer. The exchange worked great. I exchanged my dollars for Bitcoin. If I wanted dollars, I would have just kept them in the first place.
7.
Post 3169308 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_11.16h):
what is up with the barrage of 1 btc sells every 5-10 seconds? its hypnotizing. good way to sell 1000s of coins without really moving/scaring the market. good way to induce movements but costly if wrong. maybe not too costly.
Its been going on for days now. Looks like the same person is buying 1 BTC every 5-10 seconds on Bitstamp.
8.
Post 3240814 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_11.16h):
Anyone who sells a single Bitcoin right now is a complete moron. There is a truly limited supply which doesn't exist anywhere else in the investment world. When the institutional investors get their hands on them, (which they have been unable to do until today) they won't be selling them back to you or putting them on these amateur exchanges. They could easily buy every Bitcoin on all of the exchanges in a couple of days. When the price goes to $1000, it could happen overnight and your tiny $200 ask price will be eaten on the way up. You haven't seen a real whale yet.
9.
Post 3243173 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_11.16h):
10.
Post 10086417 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_13.45h):
Oh my, these posts are going to be so funny to read when Bitcoin is $100k. People arguing over 10's of dollars lol !!!!
11.
Post 10145131 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_13.47h):
¿Do you think that we're going to touch sub-200 prices?
Let's hope it doesn't. We've been in the black tuesday, lol.
The chances that a bottom is above 200$ are slim to none in my opinion.
Still no interest at all at these prices, and not enough panic. I would say 180$ is pretty much a given target, and most likely all the way to ~100$
well, I would say we had enough panic by now. People are overselling right now. This is going to bounce before we hit 200$ tonight. Everybody is expecting the price to hit 200 soonish once the first bigger buys start to take action, panic buys are going to happen and we will bounce up.
Who knows if the market will try to test even 100$ after it or close the shorts.
At this price USD/BTC the profit many miners are experiencing is negative. Even if hardware is paid off, once you factor in things such as employee wages, hardware cooling, and building rental.
As requested I updated the document with a $250 and $300 and $400 USD valuation.
Exactly, glad you said this, wish the spreadsheet included those numbers as well. $400-$500 is the breakeven for most miners with the latest hardware when you include a full profit/loss breakdown of a mining business. That's why Cointerra has stopped paying their bills on their hosting. No miner is profitable at this price. Whether they know it or not is another question.
12.
Post 10231428 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_13.51h):
Has anybody noticed that even at 200 nobody wants to buy Bitcoin.
And yet i see all these idiots here dreaming about how we will go up soon.
How far in the sand can your head be.
Has anybody noticed that even at 200 nobody wants to
buy sell Bitcoin.
13.
Post 10231893 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_13.51h):
In a couple of weeks, people are going to feel pretty dumb for selling at these prices.
14.
Post 10231931 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_13.51h):
In a couple of weeks, people are going to feel pretty dumb for selling at these prices.
They certainly are.
Fools.
I don't know if they're "fools". People make mistakes and this is a difficult market. I'm just saying they are going to feel bad about the decision to sell right now.
15.
Post 10258335 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_13.52h):
I see 300 USD by the end of the coming week.
Depends on the news and the associated newly incoming fiat. Given this un-usual "UP" weekend, I think the chance of seeing $300 by the end of next week is high.
Also depends on what is this
http://coinbase.com/lunarSource code shows:
<!-- The big reveal. Show at launch time. -->
<a href="/lunar/feature" style="display:none;">to the moon</a>
Which leads to this url:
https://www.coinbase.com/lunar/feature
16.
Post 10301000 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_13.54h):
Why does everyone keep quoting the troll?
17.
Post 10351285 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_13.56h):
Look, one thing is for sure. Anyone who is on a Bitcoin forum knows that Bitcoin is going to be huge. The only difference between Bears and Bulls at this point is short term or long term views. Bears are trying to get a substantial holding now and bulls likely already have one. Once a bear has enough coin in his wallet, he becomes a bull. The accumulators (bears) and the accumulated (bulls). Lets all just agree that this is going to be huge in the long term. Stop saying it's going to fail, that just makes you look stupid.
18.
Post 10464130 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_13.58h):
I think $260ish will be the top for now and we'll head back down on a big dump. Maybe that will be it for the bear?
If you really think that, you should be shorting. You'll stand to make a ton of profit and prove all these stupid perma bulls wrong.
You know what? Everyone moans and complains about the trolls, but once the price moves up like this, their absence makes this thread a little dull...
It doesn't make it dull, it makes it readable. When the price is falling, every page is 90% "This user is currently ignored".
19.
Post 10464149 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_13.58h):
I think $260ish will be the top for now and we'll head back down on a big dump. Maybe that will be it for the bear?
If you really think that, you should be shorting. You'll stand to make a ton of profit and prove all these stupid perma bulls wrong.
You know what? Everyone moans and complains about the trolls, but once the price moves up like this, their absence makes this thread a little dull...
It doesn't make it dull, it makes it readable. When the price is falling, every page is 90% "This user is currently ignored".
Seems to me some of them made some good points on the way down..
I wouldn't know. Anyone using the term "Bulltard" is ignored.
20.
Post 10464158 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_13.58h):
5th of Jameson in for the night
logged into bitfinex
taking votes on if I submit a margin short or long wall
If you drank a 5th, you will probably short.
21.
Post 10493864 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_13.59h):
nah... buying them back when you panic sell @ 120...
Won't happen. I'll panic buy maybe. You do realize I can keep buying indefinitely, right? My poor market timing just means that I trade a certain amount of fiat for bitcoin on a regular basis. The lower it goes, the MOAR I buy.
...and the MOAR you lose. Somehow I feel sorry for you, but I guess you don't want to hear that anyway.
It's called Dollar-Cost Averaging and it's a great way to invest for the long term. Not everyone is trading, some of us are accumulating.
22.
Post 10506536 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_13.59h):
a lot of shorts are starting to open up
Suckers.
23.
Post 10550966 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.00h):
If this bear market has been largely caused by Chinese miners that can do nothing with bitcoins except sell them, then it is likely to end when one of two things happen: Either they run out of stockpiled coins to sell over and above coins they are mining, or when the Chinese economy gets so bad that they realize that the killer app is to sneak out of the country with them.
Right now Bitcoins seems to be an answer in search of a problem: Most obviously capital controls in a world where capital is still largely mobile. When this situation changes, it is likely to be sudden and swift although the time frame is difficult to predict with any accuracy.
Miners aren't the ones selling in this market. It's pure speculative manipulation. A miner would never dump coins and cause the price to decline. They would sell the minimum number of coins necessary to cover costs at the best price possible and stock the rest for a much higher price.
Let's put this one to bed, miners are not dumping coins and they are certainly not dumping them as a market order.
24.
Post 10551079 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.00h):
If this bear market has been largely caused by Chinese miners that can do nothing with bitcoins except sell them, then it is likely to end when one of two things happen: Either they run out of stockpiled coins to sell over and above coins they are mining, or when the Chinese economy gets so bad that they realize that the killer app is to sneak out of the country with them.
Right now Bitcoins seems to be an answer in search of a problem: Most obviously capital controls in a world where capital is still largely mobile. When this situation changes, it is likely to be sudden and swift although the time frame is difficult to predict with any accuracy.
Miners aren't the ones selling in this market. It's pure speculative manipulation. A miner would never dump coins and cause the price to decline. They would sell the minimum number of coins necessary to cover costs at the best price possible and stock the rest for a much higher price.
Lets put this one to bed, miners are not dumping coins and they are certainly not doing them as a market order.
Best... Post... Recently.
Gotta agree with rolling. Miners are among the most optimistic of the bulls as a group.
It doesn't matter how optimistic miners are. Miners have to service their debt and to meet expenses just like everybody else. If you postpone selling because of a bear market, you can end up NEEDING to sell more rather than less because the price is lower, the loan payments are higher and all your other expenses remain the same. It doesn't matter one bit if it's market orders or limit orders creating more overhead resistance.
Partially true. Miners may have to start selling at some point if they are no longer able to service debt with other income streams but a market order has a huge difference in this market compared to a limit order. A miner would NEVER dump 5k coins in single market order. It causes too much slippage and the market seems to stabilize at a lower price after a big downward movement. It's not miners causing these major movements.
25.
Post 10551152 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.00h):
If this bear market has been largely caused by Chinese miners that can do nothing with bitcoins except sell them, then it is likely to end when one of two things happen: Either they run out of stockpiled coins to sell over and above coins they are mining, or when the Chinese economy gets so bad that they realize that the killer app is to sneak out of the country with them.
Right now Bitcoins seems to be an answer in search of a problem: Most obviously capital controls in a world where capital is still largely mobile. When this situation changes, it is likely to be sudden and swift although the time frame is difficult to predict with any accuracy.
Miners aren't the ones selling in this market. It's pure speculative manipulation. A miner would never dump coins and cause the price to decline. They would sell the minimum number of coins necessary to cover costs at the best price possible and stock the rest for a much higher price.
Lets put this one to bed, miners are not dumping coins and they are certainly not doing them as a market order.
Best... Post... Recently.
Gotta agree with rolling. Miners are among the most optimistic of the bulls as a group.
It doesn't matter how optimistic miners are. Miners have to service their debt and to meet expenses just like everybody else. If you postpone selling because of a bear market, you can end up NEEDING to sell more rather than less because the price is lower, the loan payments are higher and all your other expenses remain the same. It doesn't matter one bit if it's market orders or limit orders creating more overhead resistance.
Partially true. Miners may have to start selling at some point if they are no longer able to service debt with other income streams but a market order has a huge difference in this market compared to a limit order. A miner would NEVER dump 5k coins in single market order. It causes too much slippage and the market seems to stabilize at a lower price after a big downward movement. It's not miners causing these major movements.
If a miner has
BTC20k to push he'd prob put a sell wall and if no one is biting he has to dump. On a separate note oh look there are over
BTC2k on finex till 240, recall there were about that much till 250 a day ago. But at least looks like people are nibbling at 240
A miner isn't going to dump
BTC20k at a time, they are going to sell some fraction of
BTC3600 per day. Even the biggest miner out there isn't selling more than a couple hundred per day. The vast majority of miners are holding. The current price is laughable. I'll say it one more time and then I'm done. The miners aren't causing the decline in price.
26.
Post 10618079 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.01h):
March will be > $1000.
27.
Post 10618164 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.01h):
March will be > $1000.
maybe <200$ with a dip to <100$
0% chance of that happening. The current price of a bitcoin is $1000. Anyone selling for less than that is selling as a charity.
28.
Post 10618247 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.01h):
March will be > $1000.
any particular reason why bitcoin will shoot that high again?
It is already that high. It has been "shooting" low for a long time. It will go back to it's real price in March. There will be a correction back to $1000 once the manipulators are no longer able to force the price lower.
29.
Post 10618330 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.01h):
March will be > $1000.
any particular reason why bitcoin will shoot that high again?
It is already that high. It has been "shooting" low for a long time. It will go back to it's real price in March. There will be a correction back to $1000 once the manipulators are no longer able to force the price lower.
i would love to see the $1000 again, but with no reason i don't think so i'll rise again unless there's a pump lol
Lol, you guys are seriously talking like bulls and bears themselves and fighting to win the fight going on in the markets...
There are only a measly 30k-40k coins right now on the open market worth only $10 million at the current price. There are so many scenarios where entirely more than $10 million enters the market overnight. What happens to all the poor fools who wake up in the morning with their sell orders filled at $275 or even $500 and the current price at $1500?
30.
Post 10618384 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.01h):
There are so many scenarios where entirely more than $10 million enters the market overnight.
While nothing is a certainty in this world, I'd say the odds of someone dumping 10 million onto an exchange and slamming market buy with every last dime of it are slim to none. If someone had $10 million they wanted to put into bitcoin, they would probably be bidding in the upcoming auction, or buying off-exchange.
...and when they lose the auction, that is exactly what they will do. Maybe not a market order. But certainly a lot of buying pressure after the auction. There will be days in the near future where $10 million per day will be a drop in the bucket. Feel free to save this post and recirculate in the coming months.
31.
Post 10618467 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.01h):
There are so many scenarios where entirely more than $10 million enters the market overnight.
While nothing is a certainty in this world, I'd say the odds of someone dumping 10 million onto an exchange and slamming market buy with every last dime of it are slim to none. If someone had $10 million they wanted to put into bitcoin, they would probably be bidding in the upcoming auction, or buying off-exchange.
...and when they lose the auction, that is exactly what they will do. Maybe not a market order. But certainly a lot of buying pressure after the auction. There will be days in the near future where $10 million per day will be a drop in the bucket. Feel free to save this post and recirculate in the coming months.
One, thinking like yours is what makes people panic buy at the top of rallies. Two, you originally said "$10 million enters the market overnight," not "a lot of buying pressure after the auction."
We need to be shooting for 100% of m2 then. Fuck those other currencies.
Yeah good luck with that.
1. I am not advocating buying at the top of the rally, I am advocating buying right now. When it goes past $500, you are probably too late considering fiat deposit times.
2. $10 million is nothing to hedge funds, retirement funds, etc. There will be be buying pressure right after the auction and long after.
3. People are going to be sick that they missed out on buying bitcoin at these prices. My advice is to buy what you can afford or forever regret. You are lucky to even know what Bitcoin is at this point in its evolution.
32.
Post 10618556 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.01h):
1. I am not advocating buying at the top of the rally, I am advocating buying right now. When it goes past $500, you are probably too late.
2. $10 million is nothing to hedge funds, retirement funds, etc. There will be be buying pressure right after the auction and long after.
3. People are going to be sick that they missed out on buying bitcoin at these prices. My advice is to buy what you can afford or forever regret. You are lucky to even know what it is at this point.
Well, the price being 252$, it means that everybody who who owns bitcoin thinks that they are worth more than 245$; but, on the other hand, everybody in the world who has some money to spare thinks that 1 BTC is not worth 255$.
The latter think that the changces of it being worth more than 1300$ anytime in the next few years are much less than 20%.I don't know where you get the stat but I feel sorry for them.
33.
Post 10618591 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.01h):
i'll revisit this thread for lolz later, in the meantime keep up your enthusiasm because i'll need a hardworking porter like you when that imaginary rally comes.
There are so many scenarios where entirely more than $10 million enters the market overnight.
While nothing is a certainty in this world, I'd say the odds of someone dumping 10 million onto an exchange and slamming market buy with every last dime of it are slim to none. If someone had $10 million they wanted to put into bitcoin, they would probably be bidding in the upcoming auction, or buying off-exchange.
...and when they lose the auction, that is exactly what they will do. Maybe not a market order. But certainly a lot of buying pressure after the auction. There will be days in the near future where $10 million per day will be a drop in the bucket. Feel free to save this post and recirculate in the coming months.
One, thinking like yours is what makes people panic buy at the top of rallies. Two, you originally said "$10 million enters the market overnight," not "a lot of buying pressure after the auction."
We need to be shooting for 100% of m2 then. Fuck those other currencies.
Yeah good luck with that.
1. I am not advocating buying at the top of the rally, I am advocating buying right now. When it goes past $500, you are probably too late considering fiat deposit times.
2. $10 million is nothing to hedge funds, retirement funds, etc. There will be be buying pressure right after the auction and long after.
3. People are going to be sick that they missed out on buying bitcoin at these prices. My advice is to buy what you can afford or forever regret. You are lucky to even know what Bitcoin is at this point in its evolution.
First, replys go at the bottom of the previous post. Second, you won't revisit/repost this later because it will make you look like a fool.
34.
Post 10618708 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.01h):
1. I am not advocating buying at the top of the rally, I am advocating buying right now. When it goes past $500, you are probably too late considering fiat deposit times.
2. $10 million is nothing to hedge funds, retirement funds, etc. There will be be buying pressure right after the auction and long after.
3. People are going to be sick that they missed out on buying bitcoin at these prices. My advice is to buy what you can afford or forever regret. You are lucky to even know what Bitcoin is at this point in its evolution.
1. Didn't say you did. I said thinking like yours, and bear in mind I was talking about your "$1500 overnight" comments. Price is not at all likely to go to $1500 overnight.
2. "Right after the auction and long after" is not "overnight." Again, I was responding to "$1500 overnight" comments.
3. Eh, nothing really to say to that, other than time will tell.
Time will tell about everything. People are very short sighted. I'm trying to point out that leaving sell orders overnight is a bad idea and many were caught with their pants down in the last real rally. Selling any bitcoin in my opinion at these prices is just plain irresponsible.
35.
Post 10618723 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.01h):
Oh shit, is it really going to $1500 tonight? I have some stuff I could pawn off to buy in quick. Have your families do the same. Hell, you could even do a smash & grab on a store or just run around in the street with a gun stealing cars
It could very easily. I'm telling my family. I have a moral responsibility to do so.
36.
Post 10618757 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.01h):
Well, the price being 252$, it means that everybody who who owns bitcoin thinks that they are worth more than 245$; but, on the other hand, everybody in the world who has some money to spare thinks that 1 BTC is not worth 255$. The latter think that the chances of it being worth more than 1300$ anytime in the next few years are much less than 20%.
I don't know where you get the stat but I feel sorry for them.
It is not a survey, just math. If anyone with money to invest thought that the chances of BTC hitting 1300$ in the next 2 years were higher than 20%, they should buy it even for 300$. But they aren't, so...
Why not 19% or 21%?
37.
Post 10618770 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.01h):
If too many ppl end up running in the streets stealing cars to buy BTC, then it could create too much sell pressure on the used car industry and run the price down. So while I recommend that millions of you do it, I can't morally recommend tens of millions.
Now that's funny!!!
38.
Post 10618788 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.01h):
...and now back to your regularly scheduled program of lambchop (and his many many alts), nothatinjustrollin, yourmother, and the rest of the daily trolls.
39.
Post 10633859 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.01h):
Is that another lambchop alt. Wtf, give it up already. Ignored.
40.
Post 10634607 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.01h):
Still no squeeze. But it must start to hurt soon.
btc swaps still ~20K on finex, they still waiting to cover.
It's the perfect storm. They've been trained over the last year that the price must always go down. Many will not learn until they lose all of their profits from the last year.
41.
Post 10635021 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.01h):
If this gets to 350-400 quick enough there could be cascading margin calls and no liquidity in the market to cover them. Could get really interesting!
42.
Post 10638342 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.02h):
The money that sits on saving accounts are not real money, because they exist in two or more places simultaneously. A dollar that sits on your saving account is at the same time lended to somebody else and sits on their current account too.
I'm sorry, but I really have to disagree with your analysis. You are making a distincion between real and not real/duplicated money. But you are actually describing inflation/money printing. This process is not the same as the definition of M2. However, I agree that
fractional reserving can be done with bitcoin for companies like Coinbase / bitcoin banks.
That's not going to happen anytime soon. Even the NY Bit Licence requires 100% reserves in USD and BTC.
43.
Post 10638399 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.02h):
The money that sits on saving accounts are not real money, because they exist in two or more places simultaneously. A dollar that sits on your saving account is at the same time lended to somebody else and sits on their current account too.
I'm sorry, but I really have to disagree with your analysis. You are making a distincion between real and not real/duplicated money. But you are actually describing inflation/money printing. This process is not the same as the definition of M2. However, I agree that
fractional reserving can be done with bitcoin for companies like Coinbase / bitcoin banks.
That's not going to happen anytime soon. Even the NY Bit Licence requires 100% reserves in USD and BTC.
can be done outside the US ?
Can be done but I wouldn't trust them. I'm keeping my bitcoin in cold storage. Many more thefts to come before these companies get it right.
44.
Post 10638603 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.02h):
The money that sits on saving accounts are not real money, because they exist in two or more places simultaneously. A dollar that sits on your saving account is at the same time lended to somebody else and sits on their current account too.
I'm sorry, but I really have to disagree with your analysis. You are making a distincion between real and not real/duplicated money. But you are actually describing inflation/money printing. This process is not the same as the definition of M2. However, I agree that
fractional reserving can be done with bitcoin for companies like Coinbase / bitcoin banks.
That's not going to happen anytime soon. Even the NY Bit Licence requires 100% reserves in USD and BTC.
It have already happened. At Mt Gox.
Exactly...and we know how that turned out.
45.
Post 10647089 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.02h):
Meanwhile LTC creeps back toward $2. Seems that it will rally along with BTC this time.
LTC is losing value compared to BTC. The dollar value of LTC is irrelevant because you could hold BTC instead of LTC.
46.
Post 10647581 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.02h):
Hm... time to close the longs and take a really nice profit from 247$?
The only profit is more bitcoin. Taking more dollars is not profit. The profit taking takes place when you acquire more bitcoin.
47.
Post 10649883 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.02h):
You guys think $1000 by end if the year Is possible
Absolutely.
I would not be so sure about that. Considered that bitcoin price was that high only for once in its lifetime and for really short period of time. I would be amused if bitcoin will hit $500 mark this year.
Prepare to be amused.
48.
Post 10650298 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.02h):
You guys think $1000 by end if the year Is possible
Absolutely.
I would not be so sure about that. Considered that bitcoin price was that high only for once in its lifetime and for really short period of time. I would be amused if bitcoin will hit $500 mark this year.
Prepare to be amused.
How many bag holders were created in 2014? I think there will be a lot of sell pressure once we start moving back up through the 300's, 400's, 500's etc.
Your use of the term 'bag holders' explains exactly where you stand. If you have extra dollars in your bank account, you are the 'bag holder'.
49.
Post 10658709 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.02h):
I've been in to bitcoin for years, and only last year did I manage to get [a HODLING system] that didn't keep me awake at night.
And what was that? I still feel some discomfort.
laptop. battery powered. room with no windows. take out HD. boot up with tails. insert USB stick with bitaddress.org HTML on it. Open html in firefox. generate wallet. connect to dumb printer. print out wallet. LAMINATE KEYS (one story on here of a guy spilling whisky all over his paper wallet). put in fire proof safe. extra points if you destroy the laptop afterwards (totally unnecessary
).
I sleep fairly well now.
But something more secure still is on its way as I've told too many people that this is what I did.
Should make sure the private keys are BIP-38 encrypted too so if anyone does find the keys (by stealing your fire-proof box), they still need the password to use them which would give you enough time to move the bitcoin with your backup copy of the keys.
50.
Post 10660452 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.02h):
I hope this snaps right back and teaches these traders a lesson on dumping borrowed coins.
51.
Post 10660529 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.02h):
What a surprise, another fake pump to dump a little bit higher before sub 200 retesting, people never learn. There will be a real rebound but only after confirming of 160$ "bottom".
Lol, wishful thinking.
52.
Post 10753451 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.04h):
If devs decided to make this change, miners and nodes would then have the option to follow or not, essentially what you are suggesting would be a fork/ hard fork, saying it ain't so ^^ is semantics.
You can test your theory, create a hard fork of BTC now, increase the limit to 42 million and convince all of the nodes and miners to follow you.
I will give you my vote now.
NO
Its not a theory. Its there in the code....
May be you could show us the code? Find the line that says there will be 21 million. The code is on the net. Please give the link to the file and the line number. Thank you.
53.
Post 10879056 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.06h):
Can we hurry up and get this to $10k. Thanks.
54.
Post 10879494 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.06h):
13xx cny today?
Who cares about cny? Go to the chinese board with that shit.
55.
Post 10879534 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.06h):
wait till the middle of the night in the u.s , slam the market with 3000 coins in 5 minutes = guaranteed carnage ... sure is fun watching $$$ burn ... $850,000,000 worth of market cap devaluation in 5 days time ... if you all can destroy a billion $$$ in value in a week i think there's a trophy for that ...
Yeah, destroying wealth is hilarious.
56.
Post 10879537 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.06h):
13xx cny today?
Who cares about cny? Go to the chinese board with that shit.
haha angry bull?
China is 70%? of all volume, and 100% moves at usd exchanges and every non-cny ex are just a copy of chinese market.
Not true, its fake volume due to 0% fees.
57.
Post 10879614 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.06h):
wait till the middle of the night in the u.s , slam the market with 3000 coins in 5 minutes = guaranteed carnage ... sure is fun watching $$$ burn ... $850,000,000 worth of market cap devaluation in 5 days time ... if you all can destroy a billion $$$ in value in a week i think there's a trophy for that ...
Yeah, destroying wealth is hilarious.
Believing that market valuation is wealth is hilarious.
No bitcoins are actually being destroyed here, they are just changing owners.
I suppose you're right. If idiots want to sell their $100k coins for $200, that's on them. I'm just amazed at how many people are willing to sell at these prices. It's just a truly once in a lifetime epic opportunity for those with fiat to spare. Heck of a gamble selling right now though. I know I couldn't sleep with fiat in my account.
58.
Post 10896115 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.07h):
Holy crap $200 for 0.1 BTC... Buy they don't really mean anything without a seller.
It is gone, price crashed back to 500 $/BTC
From the 2014-09-30 financial statement on that page, I understand that now the fund is managed by Greyscale, and they no longer buy or sell bitcoins and no longer buy or sell shares for dollars (page 31+). Instead, there a 1st level broker and a few 2nd level brokers (including those 4 listed on the page). Those brokers can buy shares from Greyscale with bitcoins only, and will get bitcoins when they sell shares to Grayscale. In other words, it is now the brokers and the investors who must buy and sell the bitcoins on exchanges; Greyscale will just keep them safely until they are redeemed or stolen.
My guess is that those bids are just the 2nd level brokers testing the system, and the bids are not being filled because the only authorized sellers are the same 2nd level brokers, and they have no shares to sell. They must either buy some shares from Greyscale, or wait until some of the early BIT investors gives them their shares to sell.
I think you need to work on your reading comprehension.
59.
Post 10896511 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.07h):
From the 2014-09-30 financial statement on that page, I understand that now the fund is managed by Greyscale, and they no longer buy or sell bitcoins and no longer buy or sell shares for dollars (page 31+). Instead, there a 1st level broker and a few 2nd level brokers (including those 4 listed on the page). Those brokers can buy shares from Greyscale with bitcoins only, and will get bitcoins when they sell shares to Grayscale. In other words, it is now the brokers and the investors who must buy and sell the bitcoins on exchanges; Greyscale will just keep them safely until they are redeemed or stolen.
My guess is that those bids are just the 2nd level brokers testing the system, and the bids are not being filled because the only authorized sellers are the same 2nd level brokers, and they have no shares to sell. They must either buy some shares from Greyscale, or wait until some of the early BIT investors gives them their shares to sell.
I think you need to work on your reading comprehension.
What did you understand from that?
Just about everything you said is wrong. You are right that Greyscale is managing the fund. Everything else is wrong.
Greyscale doesn't keep the Bitcoin safe, they exchange baskets of shares from the Bitcoin Investment Trust (BIT).
Basically, shares of GBTC are created by exchanging BIT for GBTC and destroyed by redeeming GBTC for BIT.
I'm not going to explain the entire document.
but where teh bitcoins??!
this suonds worst than MtGox's fractional reserves.
BIT holds the bitcoin. There is no fractional reserve. Each share of BIT is backed by 1/10 of a Bitcoin and shares of BIT and GBTC are equal.
60.
Post 10896564 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.07h):
From the 2014-09-30 financial statement on that page, I understand that now the fund is managed by Greyscale, and they no longer buy or sell bitcoins and no longer buy or sell shares for dollars (page 31+). Instead, there a 1st level broker and a few 2nd level brokers (including those 4 listed on the page). Those brokers can buy shares from Greyscale with bitcoins only, and will get bitcoins when they sell shares to Grayscale. In other words, it is now the brokers and the investors who must buy and sell the bitcoins on exchanges; Greyscale will just keep them safely until they are redeemed or stolen.
My guess is that those bids are just the 2nd level brokers testing the system, and the bids are not being filled because the only authorized sellers are the same 2nd level brokers, and they have no shares to sell. They must either buy some shares from Greyscale, or wait until some of the early BIT investors gives them their shares to sell.
I think you need to work on your reading comprehension.
What did you understand from that?
Just about everything you said is wrong. You are right that Greyscale is managing the fund. Everything else is wrong.
Greyscale doesn't keep the Bitcoin safe, they exchange baskets of shares from the Bitcoin Investment Trust (BIT).
Basically, shares of GBTC are created by exchanging BIT for GBTC and destroyed by redeeming GBTC for BIT.
I'm not going to explain the entire document.
but where teh bitcoins??!
this suonds worst than MtGox's fractional reserves.
BIT holds the bitcoin. There is no fractional reserve. Each share of BIT is backed by 1/10 of a Bitcoin and shares of BIT and GBTC are equal.
how many coins does BIT hold then? any signed address known?
Their financial report says they held 1,382,400 shares or 138,240 BTC held by 184 entities as of Dec 31, 2014.
61.
Post 10896600 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.07h):
how many coins does BIT hold then? any signed address known?
Their financial report says they held 1,382,400 shares or 138,240 BTC as of Dec 31, 2014.
whoo i see.. USG 'licensed' stamp-approval magically legitimizing more
paperwork..
Are you seriously saying that Barry Silbert and the Bitcoin Investment Trust don't actually hold the bitcoin?
62.
Post 10896684 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.07h):
EDIT: and BIT is the acronym of the officilal name of the fund (Bitcoin Investment Trust), while GBTC is the ticker symbol assigned by OTCQX for the BIT shares. There are no "GBTC shares".
GBTC are shares of BIT that have been deposited for sale on OTC. Therefore, not every share of BIT is represented by a share of GBTC. It's not only an acronym. GBTC is a share of BIT that is for sale.
63.
Post 10896712 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.07h):
My reading still is that SecondMarket and other "Authorized Participants" have to buy bitcoins themselves in order to get shares from Greyscale. Isn t that so?
Only BIT buys and sells bitcoin. GBTC can only create shares when owners of BIT redeem their shares of BIT. You can't deposit bitcoin with GBTC.
GBTC is bought and sold using USD. BIT is bought and sold using USD. BIT has to buy and sell bitcoin to keep every share of BIT backed by BTC.
64.
Post 10896778 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.07h):
Because it is not only a ticker symbol. GBTC represents only those shares of BIT that are for sale. It does not represent every share of BIT.
65.
Post 10896817 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.07h):
My reading still is that SecondMarket and other "Authorized Participants" have to buy bitcoins themselves in order to get shares from Greyscale. Isn t that so?
Only BIT buys and sells bitcoin. GBTC can only create shares when owners of BIT redeem their shares of BIT. You can't deposit bitcoin with GBTC.
Is it true the first shareholders cannot sell their shares for twelve months and after that the shares can be freely traded?
What percentage of shares (representing bitcoins) can be sold now?
As I understand it, only shares of BIT that have been owned for 12 months can be transferred/deposited/redeemed/converted to shares of GBTC. Once they are GBTC, they can be freely traded on the open market without restriction.
66.
Post 10896865 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.07h):
My reading still is that SecondMarket and other "Authorized Participants" have to buy bitcoins themselves in order to get shares from Greyscale. Isn t that so?
Only BIT buys and sells bitcoin. GBTC can only create shares when owners of BIT redeem their shares of BIT. You can't deposit bitcoin with GBTC.
Is it true the first shareholders cannot sell their shares for twelve months and after that the shares can be freely traded?
What percentage of shares (representing bitcoins) can be sold now?
As I understand it, only shares of BIT that have been owned for 12 months can be transferred/deposited/redeemed/converted to shares of GBTC. Once they are GBTC, they can be freely traded on the open market without restriction.
Is there any estimate of how many that can be freely traded on the open market without restriction today? It's going to be a damp squib if hardly any can be traded until another year elapses.
BIT had 70,000 bitcoin at the end of 2013 so at least 700,000 shares could be put on the market right now but it seems unlikely that everyone would want to sell unless there is a hefty premium. Also, more will mature each month and by Dec 2015, 1,380,000 shares will eligible to be sold.
67.
Post 10897188 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.07h):
How cheap do these things have to get before all the miners find new jobs? This is taking forever
It will take until their building leases and data center leases expire. Even if they're losing money, it might still be better than the penalties of breaking a lease. Only people mining from home can afford to shut things off.
68.
Post 10925781 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.07h):
There is no place on earth beyond their reach except maybe bitcoin.
69.
Post 10926081 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.07h):
Can everyone that has bitcoins and doesn't believe in it, just sell right NOW so we can get this downtrend over with? What a waste of 2 1/2 months!
70.
Post 10926106 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.07h):
Can everyone that has bitcoins and doesn't believe in it, just sell right NOW so we can get this downtrend over with? What a waste of 2 1/2 months!
Are you sure some whales haven't just been methodically inching us down to
avoid panic? And that we may have many more months of same ahead?
No, I'm quite sure that's the case but can they hurry the f up?
71.
Post 10926236 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.07h):
Where did this bs pump come from? It's a waste. No matter how high the price goes, the non-believers/whales/manipulators/sadists are going to keep pushing it down. Why fight it, just let them get to double digits and then we can finally go up.
72.
Post 10926285 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.07h):
Where did this bs pump come from? It's a waste. No matter how high the price goes, the non-believers/whales/manipulators/sadists are going to keep pushing it down.
What if it came from the same non-believers/whales/manipulators/sadists?
Ah ha!
73.
Post 10926338 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.07h):
Where did this bs pump come from? It's a waste. No matter how high the price goes, the non-believers/whales/manipulators/sadists are going to keep pushing it down. Why fight it, just let them get to double digits and then we can finally go up.
It's an illusion to think that once we get to X we can all just happily buy again and go up. If we do get to double digits you will be very scared to buy and the single digit crew will be hard at work convincing you that the price can't go up until we hit $5 or whatever arbitrary number. There is no magical number where buying fills all of us with butterflies and rainbows, the doom is always palpable and looming above our heads. Only once you see through the psychology and can objectively look at it from the outside you can find good entry points to buy (or sell).
Well, that sucks. Do we really need Wall Street market makers before we have a stable market?
74.
Post 10926387 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.07h):
Stable is the one thing you definitely don't get in the bitcoin market, maybe some hours of flatlining. If it ever is stable, you wouldn't ask the question.
When I say stability, I mean a stable sustained uptrend that reflects all of the great things happening in Bitcoin.
75.
Post 10926409 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.07h):
I think it's risky to trade until GBTC trading begins. I do not know how or if it will affect the market.
Like risk ever stopped the degenerate gambler day-traders?
76.
Post 10926428 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.07h):
this is a clear sign to me that this market is over-leveraged.
that on ok coin was just a massive short position closing, then other panicked and closed their positions and you have this ridiculous situation that we are back from when we started this descent.
this fucker is going down again. just a matter of time.
Oh yeah, no doubt about it! Clear downtrend for the last 19 days.
77.
Post 10965776 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.08h):
^Lambchop
78.
Post 10972524 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.08h):
Shorts up to 24541.
Hmm.
Swap interest rate on shorts up to 0.07% per day, long swap interest down to 0.094%
Wait a minute, you telling me I could loan out a couple hundred coins and be making .14 per day?
That's more than I make from mining! What's the catch? Where's the risk?
You'd have to trust leaving those coins on an exchange.
79.
Post 10973610 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.08h):
(It is only recently that the top 51% became all-Chinese.)
how do you figure that the top 51% of hashing is Chinese?
I don't think he understands that miners can change pools. Pools do not equal miners.
80.
Post 11010421 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.09h):
The calm before the storm...
81.
Post 11012387 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.09h):
I don't see why GBTC isn't being priced in already. There is a very good possibility that institutional money that CANNOT buy on the open market will flood into GBTC. The price of GBTC may very well be 10-20% higher than the exchanges for a while but as early adopters of BIT arbitrage, exchange prices have to follow.
82.
Post 11013596 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.09h):
Sorry, I had to make one more comment on Leo
LeoCoin is a joke. I have to say I only spend a short time on reading about it, but everything smell about LeoCoin...
The 2 promoters, are former scammers in a pyramid-scheme... The website does not explain much about the improvements, its still not clear to me... and they reward people using the coin in an pyramid-like-scheme... Maybe they use an anonymity function that is 100%?? but still the coin smell of fraud! Sorry to say...
Thank you captain obvious.
83.
Post 11015172 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.09h):
No way to see 300$ coins next 2 weeks. Maybe next 2 months...
I agree. It will either stay under $300 or blow right past 300 on the way to $32,000.
84.
Post 11044407 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.10h):
i'm never buying a bitcoin again. this is clearly the end of bitcoin. its remarkable 230 is holding, but not for long, soon it will crash 30% in 1 hours time.
Clearly trolling but we said 250 was holding....240 was holding.....230 is holding but for how long?
Bitcoin is the worst investment possible in the last 12 months.
No more hope for Bitcoin. NO one's buying it anymore, figuratively and literally. DOOM! Single digits here we come...
This is not even a troll post, I am finally a believer. The bears win. I give up.
85.
Post 11090452 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.11h):
Does everyone realize that taxes are due tomorrow in the US (April 15th)? The recent sell off is obviously miners cashing out to pay taxes. Nothing to worry about.
86.
Post 11090568 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.11h):
Does everyone realize that taxes are due tomorrow in the US (April 15th)? The recent sell off is obviously miners cashing out to pay taxes. Nothing to worry about.
Do you think everyone lives in the US? I remember their population is less than 300 million. World is more than 7 billions.
True but those 300 million control the planet like it or not.
87.
Post 11090883 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.11h):
Does everyone realize that taxes are due tomorrow in the US (April 15th)? The recent sell off is obviously miners cashing out to pay taxes. Nothing to worry about.
Do you think everyone lives in the US? I remember their population is less than 300 million. World is more than 7 billions.
True but those 300 million control the planet like it or not.
hahaha........spastic!
consume perhaps, control - hardly!!
They cant even control themselves let alone the rest of us!
Poor sheep. Blind to reality.
88.
Post 11090941 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.11h):
Does everyone realize that taxes are due tomorrow in the US (April 15th)? The recent sell off is obviously miners cashing out to pay taxes. Nothing to worry about.
Do you think everyone lives in the US? I remember their population is less than 300 million. World is more than 7 billions.
True but those 300 million control the planet like it or not.
50 million of those are on food stamps, and working toward 100 million unemployed... Ahh, the American dream!
Sad indeed and yet still pulling the strings behind governments and corporations around the world.
89.
Post 11090973 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.11h):
Does everyone realize that taxes are due tomorrow in the US (April 15th)? The recent sell off is obviously miners cashing out to pay taxes. Nothing to worry about.
IIRC, the deadline for tax selling was Dec 31, 2014. April 15 is only the deadline for filing the 2014 tax statements. Isn't that so?
Nope, payments are due April 15th.
90.
Post 11100924 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.11h):
PARABOLIC!
91.
Post 11101218 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.11h):
i got 12 bears you and its only 9:30 you fucking retards
You got 12 beer for 5$? Where do you live? I want to be your neighbour.
He got a 12 pack of bears not beers for $5.
92.
Post 11101263 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.11h):
I think someone is fucking with us.
I think it is THEM!
I hate THEM!
93.
Post 11216227 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.13h):
This is as bad as it gets. Somebody is withdrawing from BTC-E in panic no matter how big his/their losses are. People are in piece with the major loss only when there is no other alternative. This means somebody knows something majority of us don't. My guess is that BTC-E is going down for one reason or another.
What if it's some other insider information not related to the collapse of BTC-e?
94.
Post 11216410 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.13h):
Disappointed that it seems to have stopped.
They are just waiting for sell orders to fill in so they can take another chomp.
95.
Post 11283413 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.14h):
I now hold Bitcoin in my Roth IRA, purchased from Ameritrade.
No different than buying any other stock. (OK, pink sheets, so you must use limit orders, but you get the idea.)
I've waited years for this day! Can't wait to see what happens next.
I miiiiight have a bit of a bullish bias here ;-)
Is this with or rather through a self-funded roth ira? Sorry, I'm not overly familiar and just wanted to pick your brains a bit. This seems, well frankly, like an amazing vehicle for preserving growth.
So, if I understand correctly, you would have deposited up to $5500 for the year of contributions or how ever little; then you just bought the individual shares.
The money you've spent on this has already been taxed. So, assuming it is a qualified withdrawal; if you bought basically a coin at $420, if at the time it is withdrawn, the coin/share is now worth $1,000; you do not pay taxes on that $580 increase in value? And likewise; if the coin is worth say $32,000... you wouldn't pay tax on that additionally $31,000 in appreciation assuming it's a valid withdrawal?
That seems almost to good to be true lol. How is this not amazing!? lol?
To my knowledge, that is correct. (Consult your own accountant, blahblahblah disclaimer).
It is why I have been waiting for this day for years.
Anyone with retirement funds can now buy Bitcoin.
The faucet JUST opened, and the supply is not yet even a dribble.
It is simply unbelievable that $133.7 could be used to set an all time high.
I so badly wish it was represented on the charts.
Maybe it will show on the charts once the other 93 shares sell (and they will).
96.
Post 11284684 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.14h):
I now hold Bitcoin in my Roth IRA, purchased from Ameritrade.
No different than buying any other stock. (OK, pink sheets, so you must use limit orders, but you get the idea.)
I've waited years for this day! Can't wait to see what happens next.
I miiiiight have a bit of a bullish bias here ;-)
Is this with or rather through a self-funded roth ira? Sorry, I'm not overly familiar and just wanted to pick your brains a bit. This seems, well frankly, like an amazing vehicle for preserving growth.
So, if I understand correctly, you would have deposited up to $5500 for the year of contributions or how ever little; then you just bought the individual shares.
The money you've spent on this has already been taxed. So, assuming it is a qualified withdrawal; if you bought basically a coin at $420, if at the time it is withdrawn, the coin/share is now worth $1,000; you do not pay taxes on that $580 increase in value? And likewise; if the coin is worth say $32,000... you wouldn't pay tax on that additionally $31,000 in appreciation assuming it's a valid withdrawal?
That seems almost to good to be true lol. How is this not amazing!? lol?
To my knowledge, that is correct. (Consult your own accountant, blahblahblah disclaimer).
It is why I have been waiting for this day for years.
Anyone with retirement funds can now buy Bitcoin.
The faucet JUST opened, and the supply is not yet even a dribble.
It is simply unbelievable that $133.7 could be used to set an all time high.
I so badly wish it was represented on the charts.
It's showing
133.70 now. EDIT: Make that $175.00.
http://www.otcmarkets.com/stock/GBTC/quote
97.
Post 11285099 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.14h):
What does that mean, "Volx100" and then "0.01"
I'm thinking it means Vol/100 (0.01*100 = 1), but it actually says 0.01/100 = 0.0001?
.01 * 100 = 1 share of GBTC which equals ~.1 BTC so currently the price of BTC on GBTC is $1750/BTC
98.
Post 11304480 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.14h):
[]
Whether it's Bitcoin or some other currency, there is always going to be people trying to take advantage of other people. As someone who ordered gear from both KnC and BFL, I can assure you there is a dark side to the "Bitcoin Community". But that been said, we're talking about digital money. So thinking of the entire Bitcoin ecosystem as a "Community" is a bit naive anyway.
The problem with BTC is it has no mechanisms in place to deal with bad actors. That's Y it fails - right on the conceptual level.
Real money has the might of the state to punish the con men, Bitcoin? Not so much.
Thus far, the only repercussions felt by thieves & conmen in Bitcoin Equestria came from the hand of the nanny-state Bitcoiners so love to whine about
The state has just as much power over bad actors who use bitcoin as they do over bad actors using cash.
Since when does money have to provide a method to deal with bad actors? That is not a function of money.
99.
Post 11304785 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.14h):
I'll gladly explain.
The state may have the power to go after the bad actors, but Bitcoin makes it far more difficult, because pseudonymity.
Unlike fiat, Bitcoin transactions are not linked to identities - only addys.
The state also has no real interest in maintaining a semblance of order & respectability in a pseudocurrency meant to unseat the state-backed money. It has great interest in maintaining the value of the currency it issues, but Bitcoin's value? Not so much
TL;DR: No mechanism for self-governance; no incentive for state to help; more difficult to enforce even if the incentive was there.
@Lardass: ur fat.
Law enforcement testified at the NYDFS hearings last year and they repeatedly said bitcoin did not make their job any harder in regards to catching criminals.
Fiat is not linked to identities. Credit cards might be, bank transfers might be, but fiat itself is not linked to identities.
100.
Post 11304864 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.14h):
I'll gladly explain.
The state may have the power to go after the bad actors, but Bitcoin makes it far more difficult, because pseudonymity.
Unlike fiat, Bitcoin transactions are not linked to identities - only addys.
The state also has no real interest in maintaining a semblance of order & respectability in a pseudocurrency meant to unseat the state-backed money. It has great interest in maintaining the value of the currency it issues, but Bitcoin's value? Not so much
TL;DR: No mechanism for self-governance; no incentive for state to help; more difficult to enforce even if the incentive was there.
@Lardass: ur fat.
Law enforcement testified at the NYDFS hearings last year and they repeatedly said bitcoin did not make their job any harder in regards to catching criminals.
Since when did Bitcoiners start trusting LEO?
Fiat is not linked to identities. Credit cards might be, bank transfers might be, but fiat itself is not linked to identities.
Semantics? Also, see edit:
And, of course cash transactions are, by their nature, done face-to-face, so identity is established in tried & true meatspace mode.
Trusting law enforcement is not required. Following the money is just one way to catch criminals and a relatively new one in the history of law enforcement.
101.
Post 11304930 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.14h):
Trusting law enforcement is not required. Following the money is just one way to catch criminals and a relatively new one in the history of law enforcement.
You've just pointed out that Bitcoin removes one of the recent additions to LEO's crime-fighting arsenal.
Now go ahead, keep believing their lies
I didn't say that and any criminal that thinks they can avoid being caught by using bitcoin should remember how that worked out for the silk road guy.
Who's lies?
102.
Post 11305054 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.14h):
Trusting law enforcement is not required. Following the money is just one way to catch criminals and a relatively new one in the history of law enforcement.
You've just pointed out that Bitcoin removes one of the recent additions to LEO's crime-fighting arsenal.
Now go ahead, keep believing their lies
I didn't say that and any criminal that thinks they can avoid being caught by using bitcoin should remember how that worked out for the silk road guy.
Who's lies?
The "silk road guy" was owned not to help Bitcoiners recover their money, but because the state didn't want him dealing dope & not even bothering to pay taxes. No one's coin was ever returned from SR, so not sure why you brought that up.
Yes, the state will punish you when you try to go against it, my point is it won't hold your hand when shit goes wrong. It might chase down a few Bitcoin criminals for lel, but don't bank on them helping you get your interweb money back.
Bitcoin's no CC - someone steals yours, it's gone. No chargeback, no fresh new plastic
Are we talking about consumer protection now? Yes, we agree. Bitcoin is just like cash and if you send somebody cash, you can't do a chargeback. If you want to have that protection, use your credit card. Nobody is saying Bitcoin has to replace credit cards or fiat.
103.
Post 11305332 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.14h):
[]
Are we talking about consumer protection now?
Well yeah, that's what we're talking about, assumed that was clear from my first post.
[]
The problem with BTC is it has no mechanisms in place to deal with bad actors. That's Y it fails - right on the conceptual level.
Real money has the might of the state to punish the con men, Bitcoin? Not so much.
Thus far, the only repercussions felt by thieves & conmen in Bitcoin Equestria came from the hand of the nanny-state Bitcoiners so love to whine about
Yes, we agree. Bitcoin is just like cash and if you send somebody cash, you can't do a chargeback. If you want to have that protection, use your credit card. Nobody is saying Bitcoin has to replace credit cards or fiat.
The thing is, no one needs to send cash (through the mails?!) anymore. That's the dumbest way I've ever heard of for sending money. Real money has CC & checks, so stupid shit like stuffing bills in an envelope don't need to be done.
And yeah, no one's saying BTC will replace CC - at least I'm not.
I think I see where you're confused. You're blaming Bitcoin for people getting scammed out of their money rather than blaming the stupid people for sending cash to the scammer. Bitcoin is digital cash, it is not a complete replacement for credit cards and all of the consumer protection that credit cards offer. If you send cash to someone, you are taking that risk.
If you think sending cash through the mail is a stupid way to send money then you should find comfort in Bitcoin since it is a much safer way to send cash to a person. If you have a problem transacting with cash in any form, that is a bigger issue that has nothing to do with Bitcoin.
104.
Post 11305613 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.14h):
I think I see where you're confused. You're blaming Bitcoin for people getting scammed out of their money rather than blaming the stupid people for sending cash to the scammer. Bitcoin is digital cash, it is not a complete replacement for credit cards and all of the consumer protection that credit cards offer. If you send cash to someone, you are taking that risk.
If you think sending cash through the mail is a stupid way to send money then you should find comfort in Bitcoin since it is a much safer way to send cash to a person. If you have a problem transacting with cash in any form, that is a bigger issue that has nothing to do with Bitcoin.
I'm blaming Bitcoin for lending itself so well to scamming, not sure how I can express it any simpler than I've already done. Your'e basically arguing that I shouldn't be blaming your rope ladder for people falling to their death. I should blame the people themselves for being clumsy. You'd have a point, if the skyscraper didn't already have excellent elevators that accomplish the same task you've built your flimsy rope ladder for. Only they do it faster & safer.
Get it?
People don't do major transactions in cash. They don't send crates of cash halfway around the world - not unless they're stupid. Bitcoin didn't invent sending money without putting it in a box - most financial transactions are done digitally, so comparing Bitcoin to putting cash in the mail is a bit forced. NO ONE MAILS CASH.
There are many use cases for Bitcoin that didn't exist prior to Bitcoin so yeah, one of them is you can now send a crate full of cash instantly around the globe with no risk of it being intercepted. There are plenty of non-criminal reasons that this is a great new improvement to money. With all new discoveries, there will be misuses and criminal activity. Should we just stop progress then because of a few petty criminals?
...and I would view Bitcoin more like being beamed up to the top floor instantly instead of riding your antiquated elevator.
105.
Post 11305755 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.14h):
Nice trolling. I thought this was a serious discussion. You got me.
106.
Post 11314310 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.14h):
This is really a big deal if institutional money was waiting for a regulated Bitcoin exchange in New York. They just opened to US customers today.
https://www.itbit.com/blog/breaking-ground-in-the-united-states
107.
Post 11314398 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.14h):
Indeed. And, for man-on-the-street traders, FDIC insurance is a pretty massive step forward for a Bitcoin exchange.
ItBit avoided the need for a BitLicense by instead applying for a trust company charter, which appears to come with even stricter regulations. It is the first trust company to be created in New York since the financial crisis.
108.
Post 11350328 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.14h):
If you're counting profits in fiat, you're not doing it right.
109.
Post 11435742 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.15h):
Bullish.
Finally going back to 240s
Wake me when we're in the 2400s. zzz.
110.
Post 11436042 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.15h):
Bullish.
Finally going back to 240s
Wake me when we're in the 2400s. zzz.
You wouldn't even have the slightest poo poo of excitement if the ATH was ever broken?
Nope. It will be broken easily. I don't understand why people give a shit about $10 moves or even $100 moves. When we hit the ATH, it will be for a few minutes on the way to much higher. Everyone knows it. The only difference between people at this point is how much fiat we have to spend on more coins. Some of us have loaded up heavily already so we are ready for launch. The "bears" are still loading up.
111.
Post 11593922 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.17h):
Now, if they would just use that $100 million to buy BTC on the open market, we would be at $32,000.
112.
Post 11612424 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.17h):
That looks bogus plus it's just one user.
113.
Post 11612801 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.17h):
Is this real or another pump and dump? Can't wait for a real spike to like $8000.
114.
Post 11635801 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.17h):
Yeah OKCoin is having trouble again.
It keeps having 522, 520 and 502 errors.
EDIT - It is back, but I am not convinced yet.
What does chartbuddy do when OKCoin keeps spitting out 522, 520 and 502 errors? Does he start showing error messages instead of charts, or is that one of the reasons we sometimes get an invalid image message instead of a chart?
Chartbuddy started including OKCoin? When?
I thought the chart on the far right hand side was OKcoin. I could be wrong but I can't think of any other exchange coin is an abbreviation for. It just says "coin" and I assumed chartbuddy hasn't got enough space to fit the full OKcoin in.
Coin is Coinbase.
115.
Post 11655516 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.18h):
http://www.reuters.com/article/2015/06/18/eurozone-greece-varoufakis-idUSL5N0Z44TN20150618"Greek savers have withdrawn about 2 billion euros from banks over the past three days, with outflows accelerating rapidly since talks between the government and its creditors collapsed at the weekend, three banking sources told Reuters on Thursday."
116.
Post 11657411 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.18h):
Its sad to see everyone so pumped for a 30$ spike.
I hope you get out before you catch a falling knife.
Short is what i would do.
- Mayer Amschel
So do it and stop talking about it.
117.
Post 11663255 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.18h):
1600 BTC sell and the walls are holding.
118.
Post 11688936 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.18h):
The stress was very weak, unfortunately. From
this plot:
Estimated network capacity: 85 kB/min
Typical input tx rate before test: 30--50 kB/min
Typical queue size before test: 300--600 kB
Peak input tx rate during test: 126 kB/min (~3x normal, ~50% over capacity)
Peak queue sizes during peak test: 12 MB (14:00), 14 MB (21:30)
Sustained input tx rate for several hours after peak: 70-100 kB/min
Methink the test was necessary for people to pay attention to the problem.
The test showed that even a small player can create a large backlog with modest expense.
It showed that when the input transaction rate is close to the network capacity, even a small increase in that rate can create a huge backlog. Between 18:00 and 21:30, when the input rate increased from ~75 kB/min to ~112 kB/min (a 50% increase), the queue grew from ~3 MB to ~14 MB (a 370% increase).
The previous stress test (on a late friday night) used only free transactions, so the fee-paying transactions were delayed only slightly. This one used fee-paying transactions: it will be interesting to see how it affected the ordinary fee-paying transactions.
Do you know if there's a way to see what fee they paid? Was it like normal fee of 0.0001 btc? (About 2 or 3 cents)
If so, wouldn't a move to a minimum fee of say ten cents largely fix the problem?
Also,
do you know why Satoshi decided to limit the block size in the first place? I mean, I've heard it was to prevent some kind of spam attack, but now people are saying that increasing block size will prevent spam attack... I've never seen a good description of the attack they were trying to mitigate by limiting block size in the first place. Best guess is simply to prevent bloat?
I'm pretty sure I read somewhere that there was no block size limit in Satoshi's software. They added it later. He believed in game theory where things sort themselves out through risk and reward.
119.
Post 11689045 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.18h):
I'm pretty sure I read somewhere that there was no block size limit in Satoshi's software. They added it later. He believed in game theory where things sort themselves out through risk and reward.
Not sure, but I found this?
"Andresen never mentions the actual reason that Satoshi imposed a block limit. Oleg Andreev, however, does:
Huge blocks could lead to excessive use of bandwidth which could lead to higher percentage of orphaned blocks due to higher synchronization delays."
From:
http://cascadianhacker.com/blog/2014/10/25_notes-on-increasing-the-maximum-bitcoin-block-size-or-why-it-aint-happenin.htmlIf bandwidth is really the only issue then you would think the 8mb compromise will likely gain enough traction to get implemented. After all, even with a 8mb limit, most miners will still be sticking to 750 k - until you provide sufficient incentive to change.
Yeah, exactly. You can have a higher limit or no limit at all and it's still a risk for a miner to build a block that big. It's going to take a longer time to propagate over the internet which means more time for another miner to find another (smaller/faster) block and possibly orphan yours. I'm sure the limit was created to prevent some kind of "large block attack" (to disrupt miners with slow internet?) but in reality, risk and reward will prevent most miners from increasing their block size very much even when the limit is officially increased.
120.
Post 11751097 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.19h):
Only 4k on Finex to $300.
121.
Post 11792649 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.19h):
Slow and steady up to $600 300 $3600 over the next 3 months.
Confirmed!
Fixed!
Fixed!
122.
Post 11801908 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.19h):
Wow, crazy action on Finex!
123.
Post 11806807 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.19h):
What the hell is going on at BTC-e?
LTC is more profitable (in the very short term) so people are selling BTC for LTC causing the BTC price to fall.
124.
Post 11808782 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.20h):
Something has got to be done about BTC-e
Yeah, it has always been a drag on rapid price increases.
125.
Post 11809435 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.20h):
What happens if Greek banks don't reopen tomorrow? I'm giving them only a 15% chance of opening.
Those banks can't handle even one full day of withdrawals. depositor's haircuts?
What happens after banks are closed for two weeks? Civil unrest? riots?
"OXI" on the referendum is not the end of the story. It's just getting started.
Greek banks will be closed tomorrow.
And in the mean time idiot dumpers keeps dumping.
Hello idiot dumpers buying back above.
Can you believe there are still people dumping?
, buddy.
There is no profit when selling bitcoin. You're looking at it backwards. The only profit is more bitcoin. If you keep selling and buying back in higher, you are losing money.
126.
Post 11810211 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.20h):
Anybody worried about this yet?
Thanks
flat earth 1MB maxblocksize aficionados!
Nah...
A Peer-to-Peer Electronic Cash System*
*
A limit of less than three transactions per second occurring on planet earth may apply.
It's about monetary freedom.
If three transactions per second is not enough, then there will grow an ecosystem of alt coins to pick up the slack. We will see exchanges grow that allow for easy transfer of value from one coin to the next and through this multi-coin environment, we can scale without limit.
There is no solution for one chain to hold all the transactions. Any proposal that suggests compromising the security, integrity, or distributed nature of bitcoin in order to gain some kind of imaginary "adoption" is an attack and should be treated as such.
Can someone please explain this to Gavin and the other "Scientists"?
127.
Post 11810360 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.20h):
Anybody worried about this yet?
Thanks
flat earth 1MB maxblocksize aficionados!
Nah...
A Peer-to-Peer Electronic Cash System*
*
A limit of less than three transactions per second occurring on planet earth may apply.
It's about monetary freedom.
If three transactions per second is not enough, then there will grow an ecosystem of alt coins to pick up the slack. We will see exchanges grow that allow for easy transfer of value from one coin to the next and through this multi-coin environment, we can scale without limit.
There is no solution for one chain to hold all the transactions. Any proposal that suggests compromising the security, integrity, or distributed nature of bitcoin in order to gain some kind of imaginary "adoption" is an attack and should be treated as such.
Can someone please explain this to Gavin and the other "Scientists"?
I have a sense that Gavin and some of the other like minded scientist are attempting to discuss bitcoin by use of less disruptive terms in order that BTC seems less threatening to the status quo.
Not the monetary freedom part but they have to realize that every cup of coffee and micro transaction on the planet can't possibly and shouldn't be kept in the blockchain.
128.
Post 11810576 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.20h):
Bitcoin is not here to compete with visa. It's not here to make banking better, it's not about buying coffee or micro payments or any of that crap. It's not about mass adoption.
It's about monetary freedom.
If three transactions per second is not enough, then there will grow an ecosystem of alt coins to pick up the slack. We will see exchanges grow that allow for easy transfer of value from one coin to the next and through this multi-coin environment, we can scale without limit.
There is no solution for one chain to hold all the transactions. Any proposal that suggests compromising the security, integrity, or distributed nature of bitcoin in order to gain some kind of imaginary "adoption" is an attack and should be treated as such.
Can someone please explain this to Gavin and the other "Scientists"?
I have a sense that Gavin and some of the other like minded scientist are attempting to discuss bitcoin by use of less disruptive terms in order that BTC seems less threatening to the status quo.
Not the monetary freedom part but they have to realize that every cup of coffee and micro transaction on the planet can't possibly and shouldn't be kept in the blockchain.
What about all other types of transactions and apps to be built on the blockchain? It can be used in many other ways; security and validity of transactions is a function of the network size. It would be better to have a larger consensus. At the other end of the spectrum, we could have a million different blockchains, each so weak that they could be subverted by a planned attack. Eventually there is a sweet spot we will find, but in the mean time scaling to accommodate higher TPS at an early stage helps.
No problem with the other types of transactions. Let the fees determine which make it on to the blockchain. If the fee for a transaction is $10 then you might use it for a 1 satoshi smart contract but not for a $3 cup of coffee.
129.
Post 11823813 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.20h):
Man, the global economic meltdown is happening too suddenly. I wasn't ready yet. Also.... what's taking so long for everyone to go all in bitcoin?
They still can't buy it in their brokerage accounts.
130.
Post 11823869 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.20h):
Man, the global economic meltdown is happening too suddenly. I wasn't ready yet. Also.... what's taking so long for everyone to go all in bitcoin?
They still can't buy it in their brokerage accounts.
Why ?
The ETF hasn't been approved.
131.
Post 11823942 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.20h):
Man, the global economic meltdown is happening too suddenly. I wasn't ready yet. Also.... what's taking so long for everyone to go all in bitcoin?
They still can't buy it in their brokerage accounts.
Why ?
The ETF hasn't been approved.
You have ETN on Nasdaq Stockholm...
Can someone with a US based brokerage account or Chinese brokerage account buy from Nasdaq Stockholm? Doesn't seem likely.
132.
Post 11824183 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.20h):
Can someone with a US based brokerage account or Chinese brokerage account buy from Nasdaq Stockholm? Doesn't seem likely.
As far as I know, they can.
I really don't think that's true. It would have been huge news. There is very little of the worlds wealth that can trade on Nasdaq Stockholm.
133.
Post 11825137 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.20h):
Looks like Interactive Brokers is one of the highest rated online brokers too. Time to move my IRA over there so I can buy the ETN. Perfect!
http://online.barrons.com/articles/SB51367578116875004693704580502703510707706
134.
Post 11828361 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.20h):
When do you think the transactions are going to clear up?
I think it would be great if they never clear up. Bigger fees only make sense.
The average fee for the 22800 pending transactions is .000128 BTC or 3.4 cents per transaction.
Anyone who wants to get a transaction processed in the next block or two only needs to have a $0.10 (.00037 BTC) fee and it should be just fine. The way I look at it, if you don't think it's worth it to pay 10 cents to process your transaction on the most secure network on the planet, then use a less secure alternative. The higher the average fee goes, the less chance of spam attacks and low value transactions bloating the Blockchain.
135.
Post 11828402 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.20h):
When do you think the transactions are going to clear up?
I think it would be great if they never clear up. Bigger fees only make sense.
The average fee for the 22800 pending transactions is .000128 BTC or 3.4 cents per transaction.
Anyone who wants to get a transaction processed in the next block or two only needs to have a $0.10 (.00037 BTC) fee and it should be just fine. The way I look at it, if you don't think it's worth it to pay 10 cents to process your transaction on the most secure network on the planet, then use a less secure alternative. The higher the average fee goes, the less chance of spam attacks and low value transactions bloating the Blockchain.
I haven't had much experience, so I ask: is it common for services to let you determine the transaction fee when withdrawing? Because I've only seen that option in one of the...
three bitcoin-related services I've used.
No, but they really should let users decide if they want to add an additional fee in case it is a high priority transaction. This is going to be a bigger and bigger issue as time goes by and the block halving occurs. The days of free (or nearly free) transactions are numbered.
136.
Post 11828446 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.20h):
When do you think the transactions are going to clear up?
I think it would be great if they never clear up. Bigger fees only make sense.
The average fee for the 22800 pending transactions is .000128 BTC or 3.4 cents per transaction.
Anyone who wants to get a transaction processed in the next block or two only needs to have a $0.10 (.00037 BTC) fee and it should be just fine. The way I look at it, if you don't think it's worth it to pay 10 cents to process your transaction on the most secure network on the planet, then use a less secure alternative. The higher the average fee goes, the less chance of spam attacks and low value transactions bloating the Blockchain.
Why can't we have both a fee market and higher throughput?
Seems a bit early to say 2.7 tx per second should be set in stone. Shouldn't it be allowed to grow in the early stages? Within reason, wrt current hardware and avg bandwidth capabilities. This still requires adequate time to be studied, and shouldn't be rushed, nor needlessly delayed. Even the bandwidth constrained majority of chinese hash power said they would be open to 8MB.
It seems like a somewhat artificial handicap when btc is competing with an entire universe of alts, many with much higher throughput.
The fee market should grow in proportion to the diminishing of the block reward over time. Early=big inflation/no or tiny fees, Later= exponentially smaller inflation/higher demand for limited blocksize (speed incentivized by non-trivial fees eventually).
I have no issue with the increase to the "maximum" block size as proposed by Gavin. It doesn't mean miners are going to utilize the extra capacity unless they are compensated for it.
137.
Post 11828522 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.20h):
I have no issue with the increase to the "maximum" block size as proposed by Gavin. It doesn't mean miners are going to utilize the extra capacity unless they are compensated for it.
Bigger blocks
do impact all mining pools (and full nodes in their own way), independent of whether they set their software to make smaller blocks. It comes in the form of validation and hashing the transactions, which takes time, in a game where seconds count. That's why this is important to get right, and I think something crucial in the growth of btc vs plenty of willing competitors.
True and some independent miner will no doubt build those huge blocks that everyone else has to deal with but the big boys aren't going to do it for free.
138.
Post 11839401 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.20h):
This pump has legs! $296 on OKCoin.
139.
Post 11839445 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.20h):
Nice to see BTC-e along for the ride. China still leading the way.
EDIT: Okcoin just passed $300.
140.
Post 11839506 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.20h):
$315 on Okcoin. Looks like a Willy Bot. Shorters getting rekt? Cascading margin calls on 20x leverage?
141.
Post 11839614 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.20h):
Where is the arbitrage? $60-$100 spread between exchanges!!!
142.
Post 11839654 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.20h):
The ETN is having its biggest day yet and the trading day is just beginning.
http://www.nasdaqomxnordic.com/etp/etn/etninfo?Instrument=SSE109538
143.
Post 11839700 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.20h):
Ok, everyone take a break and meet back in 10 minutes for round 2.
144.
Post 11852473 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.20h):
How do you buy from that stockholm exchange thingy?
145.
Post 11855491 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.20h):
Don't you remember the "general market behavior" of bitcoin from November 2013?
What if this time it's *not* different?
.
Were you watching OkCoin a couple days ago?
146.
Post 12250906 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.25h):
I don't understand all of this talk about two chains etc. There is no way that is going to happen. The miners won't mine on a shorter chain, they will follow the longest chain period. The whole system is controlled by miners regardless of what devs and investors think of themselves. The only power and the only votes that count are those of the miners.
147.
Post 12278822 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.25h):
I think there is some confusion on this board. A mining pool does not really control the hashing power on that pool. If they try to do something strange with the hashing power, the miners behind the pool move their miners to another pool. Antpool would probably be less than 5% of the network if they didn't allow outside miners. The only real exception (with more than about 5%) is Bitfury who does independently control 20% of the network right now and growing.
148.
Post 12890037 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.32h):
My guess is >$500 in the next 12 hours.
149.
Post 12976128 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.34h):
Whale fight?
150.
Post 12976205 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.34h):
Is $256 now too high a bid for me to go to bed on, I wonder.
You must be trading on Gemini. Even then, they'll just take it back.
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Post 13107944 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.35h):
This is going higher. BTCe is following along for once.
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Post 13189260 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.36h):
satoshi is some lone genius (albeit little-crazy eccentric (i mean he must have been)) versus he is NSA derp? I'd say crazy bullish.
I think this time, it really is him. I wonder what he has in store for us. He says he'll be releasing a paper next year. Exciting times ahead for sure.
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Post 13189572 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.36h):
Okay so
this guy is clearly not Satoshi but most certainly one hell of a sociopath
That'll get Bitcoin in the news though and a lot of people will notice the current price raise.
Bullish.
Saving this to quote later...
154.
Post 13189838 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.36h):
i am starting to take this SN talk serious.........
edit: if so....how the fuck did they find him?!
Someone sent Wired and Gizmodo a bunch of stolen documents. The source said they used to work for Wright.
155.
Post 13271437 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.38h):
836 coin market dump in one shot
fat finger?
Probably someone wanted to buy a house.
Damn that's a lot of coin's
I dunno, in the bigger picture, one would expect somebody somewhere to once and a while exchange coins for a down payment on a house, if this is indeed to be a new default global currency. If we can't use it, what good is it?
Exactly. To have real value for what it's best at (really secure transactions), the price is going to need to increase 100x-1000x so purchasing a couple million for a really secure exchange between businesses doesn't affect the market price. That's where this is headed. The only question is when.
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Post 13512627 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.40h):
nothing major.
would powerball jackpot fund affect bitcoin price if the funds were gone to buy bitcoin?
I was thinking I would buy ~200k bitcoin if I won so that would move the price a little.
157.
Post 13512669 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.40h):
nothing major.
would powerball jackpot fund affect bitcoin price if the funds were gone to buy bitcoin?
I was thinking I would buy ~200k bitcoin if I won so that would move the price a little.
Still only ~20% of the Powerball winnings to buy 1% of the coins there will ever be at bargain basement prices. Still plenty of money for hookers and cocaine.
158.
Post 13566483 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.40h):
Better dump everything now. This is going to negative digits!
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Post 13566581 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.40h):
Ok, new proposal on block size. 1mb max limit for transactions with no or micro-fee attached. No block size limit for transactions with a fee attached that is at least 90% of the average fee over the last 1440 blocks. Now go make it happen and stop dumping.
160.
Post 13567326 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.41h):
This block thing needs to be solved once and for all now and never addressed again. "The Last Hardfork".
Anything less than that and Bitcoin will fail.
161.
Post 13567404 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.41h):
This block thing needs to be solved once and for all now and never addressed again. "The Last Hardfork".
Anything less than that and Bitcoin will fail.
It's this kind of thinking of getting a silver bullet rather than an ongoing process that gets us in trouble
Bitcoin can't fundamentally change and shouldn't change. There is no real governance, nor should there be. It needs set rules and that's it. The idea that it can change is what's getting us in trouble. Sure, added features that conform to the set rules are fine but things that cause hard forks can't happen anymore. The bigger it gets, the harder its going to be for these changes. It has to be a silver bullet or nothing.
162.
Post 13567613 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.41h):
This block thing needs to be solved once and for all now and never addressed again. "The Last Hardfork".
Anything less than that and Bitcoin will fail.
It's this kind of thinking of getting a silver bullet rather than an ongoing process that gets us in trouble
Bitcoin can't fundamentally change and shouldn't change. There is no real governance, nor should there be. It needs set rules and that's it. The idea that it can change is what's getting us in trouble. Sure, added features that conform to the set rules are fine but things that cause hard forks can't happen anymore. The bigger it gets, the harder its going to be for these changes. It has to be a silver bullet or nothing.
I agree that the block size needs to be on a fixed increase schedule, not a one time jump. I also agree that changes will get more difficult over time, but the only way to get the Chinese miners on board is to crash the market. Their business model doesn't work and they can't hold the rest of the world hostage with their slow-ass internet connections (that goes for TOR miners too).
100% full blocks now. It this the beginning of THE
FULLBLOCALYPSE???Since we don't know what the future holds, the only logical way to increase block size over time is to re-target like we do with difficulty. Exclude no-fee or micro-fee transactions from the re-target calculation to filter out spam attacks. Done.
163.
Post 13567738 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.41h):
Stop defending him, he does not deserve it.
"Strong minds discuss ideas, average minds discuss events, weak minds discuss people."
Fascinating idea!
Nicked it from Lauda's profile page
Nice. Added to my signature.
164.
Post 13567856 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.41h):
Stop defending him, he does not deserve it.
"Strong minds discuss ideas, average minds discuss events, weak minds discuss people."
Fascinating idea!
Nicked it from Lauda's profile page
Nice. Added to my signature.
It's from Eleanor Roosevelt
It looks like it is widely attributed to both of them but the Eleanor Roosevelt quote uses "Great minds" instead of "Strong minds". I think Socrates has a few years on her though.
165.
Post 15245362 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.53h):
The bitcoin Bubble cycle 
I think we're in the relief stage.
166.
Post 15497354 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.54h):
Low volume bot trading in China manages to bring the price down with big volume on other exchanges. They don't even try to hide the manipulation, but I don't blame them, traders are blind anyways.
China, with Huobi, its "leading exchange because of volume" drops with around 500 BTC traded, while Bitfinex drops with around 6000 BTC traded. Whats even funnier is that Bitstamp had more volume on this dip than Huobi. The day these Chinese exchanges have fees is the day the whales lose their surefire way to eat up all you minnows.
Yea, was wondering if anyone else noticed this. Huobi rigged that drop to go as low as possible with 0 volume wash trading. Meanwhile, the entire sell side is 2-3 fake walls that will be pulled and the rest dust, so it could rise right back up to where it dropped from in seconds if "they" wanted to.
Next leg is DOWN.
No.
167.
Post 15526912 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.55h):
Um.... why is the reward on the last two blocks 16.66666666? Did someone forget how to divide by 2?
Blockchain.info screwup.
Blockr.io correctly displays it as 12.51263172
Same thing with btcc too
Relayed By BTCC Pool
Block Reward 16.66666666 BTC
is working.
168.
Post 15530066 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.55h):
So where's that drop in hashrate that was predicted by the doomsayers?
The miners are still holding out hope the price will at least double to cover their losses. It will take a while for the hashrate to drop and it will only happen if the price remains suppressed for an extended period.
169.
Post 15808696 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.56h):
https://bitfinex.statuspage.io/So, when Finex comes back online, anyone affected by the theft will see that their position has been closed.
"...we may need to settle open margin positions, associated financing, and/or collateral affected by the breach. Any settlements will be at the current market prices as of 18:00 UTC"This sounds like anyone who was margin long and lost the coins they were holding will have their long positions closed at the current market rate as of 1800 UTC.
What about margin shorts? They didn't own any coins so all of the shorts should be intact. Right?
What about someone who lent out their coins that were sold by a shorter? Those coins weren't stolen either.
So, every coin that was stolen must have belonged to someone in a long position.
What effect will this have on the market when they reopen?
If the shorters want out, they have to buy Bitcoin but there are 120k fewer coins on Finex to buy.
If the longs want out, their funds may be locked in USD or gone. If Finex eats the loss, the longs will have fresh USD to buy coin with if there are any for sale.
If the BTC lenders want out, they will no longer be lending coins to short.
This seems like it is going to cause prices at Finex to skyrocket when it opens.
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Post 15809103 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.56h):
171.
Post 16409162 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_14.57h):
There is really nothing useful in this thread anymore.
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Post 17397434 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.01h):
New ATH on BTCe
173.
Post 18140095 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.05h):
holy shit. so denied confirmed? it already touched 1000$.
I dont think that anything has been confirmed yet, right?
This is insider knowledge, perhaps?
Disapproved.
https://www.sec.gov/rules/sro/batsbzx/2017/34-80206.pdf
174.
Post 20994017 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.18h):
Has anyone considered the tax implications of now involuntarily owning BCH?
175.
Post 20994902 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.18h):
Has anyone considered the tax implications of now involuntarily owning BCH?
I'm trying to work that out with my accountant now. Wanted to dump all my BCH to pay off a mortgage and he's trying to wrap his head around the cost-basis and tax implications.
I'm thinking they will treat it as if you mined it on the day the chain split. In other words, you will owe capital gains on the value of BCH the day it was created whether you cash it out or not.
176.
Post 20995036 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.18h):
Has anyone considered the tax implications of now involuntarily owning BCH?
I'm trying to work that out with my accountant now. Wanted to dump all my BCH to pay off a mortgage and he's trying to wrap his head around the cost-basis and tax implications.
I'm thinking they will treat it as if you mined it on the day the chain split. In other words, you will owe capital gains on the value of BCH the day it was created whether you cash it out or not.
Pretty sure mined coins are taxed as regular income - not at the capital gains rate.
Good point, not like mining then but still capital gains.
177.
Post 20995252 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.18h):
Has anyone considered the tax implications of now involuntarily owning BCH?
None until you sell.
In the US, you owe taxes on the value when you receive it and then again if there are gains when you sell it.
178.
Post 20995698 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.18h):
In the US, you owe taxes on the value when you receive it and then again if there are gains when you sell it.
Are you really declaring your ownership of BTC? OMG.
I didn't say anything about what I am doing. Whether you declare it or not, you still owe it. Whether you want to evade paying taxes is up to you. I was just replying to the person who said you only owe when you spend it.
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Post 23546044 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.24h):
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Post 23734734 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.24h):
181.
Post 23987128 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.25h):
No problem here you go:
There's our $32k
182.
Post 24134287 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.25h):
The choice between the legacy bitcoin and 2x is a choice between a continuously proven and non-censorable store of value, and a provenly compromised store of value with temporarily lower transaction fees.
"#Bitcoin was created so you can buy a Lambo. Not a cup of coffee #No2x"
Quote of the day
Buying coffee with Bitcoin is like using an armored truck and armed guards to protect your $5 payment for your Starbucks coffee.
183.
Post 24242698 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.25h):
that is why they will provide the network with better features that make it more competitive in relation to its environment.
You achieve that with consensus and a smooth upgrade that carries everyone along with you. Not detonating a bomb which kills half the crowd you depend on to eat which is what 2X is.
Exactly, that's what people don't seem to understand. Bitcoin is going to get to 2x or some other increase in the future but not now and not like this.
184.
Post 24247133 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.25h):
One spit away from becoming parabolic on log... Amazing!
Maybe it can still happen, one week to go to the fork
There is no fork.
185.
Post 24248531 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.25h):
So now Bitcoin is stuck with 1mb forever.
The Lies and Censorship crew have won.
Meanwhile, Lightning Network is at-least "18 months" away from being deployed.
Are you guys ready for $100+ fees?
This is the "settlement layer" you wanted. Forget Satoshi's Bitcoin, now BTC is a store of value only coin. Who cares about commerce or competing with banks or actually trying to change the world, right?
Why forever? Who is saying that?
Hopefully now a permanent solution can be developed and tested over the next year or two to allow for growth in the block size over time. I've always thought the block size should adjust with the difficulty. Maybe a consensus will develop for such a change.
186.
Post 24249526 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.25h):
Looks like all the big blockers are rage quitting...
187.
Post 24249837 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.25h):
below 7000 soon
Amazing buying opportunity!
188.
Post 24316153 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.26h):
Bitcoin Gold Launch – 12th November 2017 (19:00 UTC)
https://bitcoingold.org/bitcoin-gold-launch/
189.
Post 24316563 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.26h):
Is it the same b2x or did they just steal the name recognition? Will exchanges support it? If they adjust the difficulty and add replay protection, maybe we can dump this new alt coin for another dividend!
190.
Post 24316900 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.26h):
191.
Post 24464810 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.26h):
How is 70% of the mining power directed at Bitch Coin? Did Bitmain hijack every Antminer on the planet? No miner in their right mind would voluntarily mine that crap. How did they get that much of the hash rate?
192.
Post 24465240 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.26h):
How is 70% of the mining power directed at Bitch Coin? Did Bitmain hijack every Antminer on the planet? No miner in their right mind would voluntarily mine that crap. How did they get that much of the hash rate?
Why would do you assume they will not voluntarily mine BCH? They see this as an opportunity to get much more money for electricity spent. It will be over in a few hours anyway:
Coin Date (UTC 24h) Remaining Change
BCH Nov 12th, 21:09 3 hours, 2 minutes (131 blk) +400.00%
No way miners are that stupid. Unless they can sell their Bitch within the next 12 hours, it will be nearly worthless again. I think the larger problem here is that the Bitmain mining cartel has revealed their hand on how much hash rate they actually control. The community used to get upset when a pool neared 50% of the hash rate. Now we see that someone actually controls nearly 70%.
193.
Post 24465332 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.26h):
How is 70% of the mining power directed at Bitch Coin? Did Bitmain hijack every Antminer on the planet? No miner in their right mind would voluntarily mine that crap. How did they get that much of the hash rate?
This was a well orchestrated plan by a few and the majority will follow IMHO
It's only the beginning...
Disclaimer:I'm only right 67% of the time
Even if the majority did follow, there would be a lag of a few days at least. The swap of mining BTC to Bitch was almost instant.
194.
Post 24465774 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.26h):
Even if the majority did follow, there would be a lag of a few days at least. The swap of mining BTC to Bitch was almost instant.
The pools will have programs that automatically switch to the most profit on a near instant basis. And you can bet the pools Bitmain controls offers the best iterations.
I don't mine anymore but there is no way I would point my miners at a pool that switched to Bitch. If anyone is still using any of the Chinese mining pools, this should be a wake up call. I think a lot of people have already realized this which is why Slush pool has been growing.
195.
Post 24466110 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.26h):
I don't mine anymore but there is no way I would point my miners at a pool that switched to Bitch. If anyone is still using any of the Chinese mining pools, this should be a wake up call. I think a lot of people have already realized this which is why Slush pool has been growing.
The only reason Slush is growing is because all the other miners have abandoned BTC for now.
Miners aren't loyal to anyone or anything. They want them bills paid and some profit. That's it. If that dimness kills BTC they'll probably grunt and find something else to mine, even if there's nothing left.
If you don't think 70% of the hashpower moving from bitcoin to an altcoin is a problem, I don't know what else to say.
196.
Post 24538160 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.27h):
If you have not sold your BCH, you are by definition supporting BCH. Anyone holding this shitcoin is a hypocrite if they then complain about it or any of it's negative effects on bitcoin.
Everyone should do their part to kill this thing by selling it. Not everyone will though because humans are ultimately greedy and self-serving. Very few are willing to sell today if they think there is a reasonable chance they can sell for more tomorrow, even though this behavior is the only thing giving BCH any value at all at the expense of BTC. The longer this thing survives, the more damage it does.
Being a holder of bitcoin helped bitcoin grow and survive. Holding BCH does the same for BCH.
Wait and see is not simply wait and see in this situation. Wait and see makes you a BCH supporter.
197.
Post 24598028 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.27h):
But I wonder, what do they exactly mean by Bitcoin? With all the forks and especially the VerWuCoin, being so vocal and omnipresent, would that not be a bit confusing for all these
VSP 's?
Nah, Mike N. said his group is getting bitcoin through the Gemini daily auctions. I'm sure that's where a lot of big players likely will go, and the WinkleVii are not auctioning any alts other than ETH.
I guess the question is then... Will they add to their hedge fund futures or actual bitcoins? :/
If the former, we actually do not care
We do care because there will be arbitrage between the derivative contracts and actual bitcoin which should keep the prices closely aligned.
198.
Post 24606230 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.27h):
slightly off ...topic... such as it is...
what's all this carolina meme business? i missed that one.
Carolina Country Music Festival = CCMF = Choo Choo Mother Fucker
199.
Post 24644564 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.27h):
More info on this Bitcore (BTX) coin...
It looks like they just paid out 8.3 million of these to existing bitcoin holders on the 6th of November. You automatically have .5 BTX for each bitcoin you owned based on a 2 Nov snapshot. You have to import your bitcoin private keys to get your bitcore coins. You already own them even if you don't claim them right now so hold on to the private keys you were using as of 2 Nov.
Holding bitcore and registering the bitcore address on their site gives you an Airdrop each week based on the balance you hold.
If you're moving your bitcoin to claim your bitcoin gold, might as well claim the bitcore coin at the same time even if you don't plan on selling it right now.
200.
Post 24647195 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.27h):
hold on to the private keys you were using as of 2 Nov.
Always a good idea. A wise man/woman/group once said:
Sigh... why delete a wallet instead of moving it aside and keeping the old copy just in case? You should never delete a wallet.
Perhaps a better way to phrase that would be "...keep track of which private keys held bitcoin as of 2 Nov."
201.
Post 24692649 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.27h):
202.
Post 24693366 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.27h):
https://www.cnbc.com/2017/11/15/thomas-peterffy-keep-bitcoin-away-from-the-real-economy.htmlThe chairman of Interactive Brokers is saying that futures trading of Bitcoin through CME could be the cause of the next financial collapse. He took out a full page ad in the Wall Street Journal to warn about it.
203.
Post 24694185 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.27h):
Hey guys, maybe someone can make me understand
Do you think we will be able to use BTC in a couple of years to buy for example coffee?
The real question is, the minimum fee we can pay is 1 sat, there is nothing less than 1 sat, right? but if in the next years 1 sat = $2/3, the fee will be as expensive as the thing you wanna buy (coffee). I don't like this BTC = Gold/store of value, I want to use BTC for my everyday expenses.
I love when someone fixes the problem that doesn't exist. Specially when solution to future problems are discussed and developed all over the place. Riddle me this, just for fun: If 0.00000001 BTC is worth $2/3 as you speculate, how much is 1 BTC worth?
When you realize how big that number is, you may google for lightning protocols which peg to BTC blockchain. You will find out that once 1 BTC is worth 200 million US$ you would have an option to open the lightning channel between you and Starbucks, and pay for the coffee for the rest of your life without ever having to pay the transaction fee on the main blockchain.
What is more likely to happen is that people keep using their VISA/Mastercard/PayPal for coffee and groceries and Bitcoin becomes the settlement layer between companies and countries. Even the lightning layer will be for businesses not for the average Joe.
204.
Post 24694666 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.27h):
Why would lightning layer not be for the average Joe? It could be literally without fees if he and Starbucks agree there should be no fees. What would be the incentive for any of sides, he and Starbucks, not to do it?
It is certainly possible and might even happen for a while but you don't need the worlds most secure network to secure coffee funds. Opening a lightning channel could still cost Starbucks or the customer $10-$100 in fees to open or close on the bitcoin network. More likely Starbucks would open a channel with your bank and it's suppliers and close the channel each day, week, month to settle the account.
205.
Post 24695582 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.27h):
I'm good mate, cheers!
I'm good either way lol, I just saw a future where BTC was in every Joe's "pocket", to replace Visa/Mastercard.
But LN should fix that.
The math just doesn't add up. There is no way the bitcoin network could ever scale (even with LN) to accommodate every person on the planet and it doesn't need to. It will disrupt the current system enough as it is and banks will have their role to play in the new system whether we like it or not.
206.
Post 24699724 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.27h):
Why would lightning layer not be for the average Joe? It could be literally without fees if he and Starbucks agree there should be no fees. What would be the incentive for any of sides, he and Starbucks, not to do it?
It is certainly possible and might even happen for a while but you don't need the worlds most secure network to secure coffee funds. Opening a lightning channel could still cost Starbucks or the customer $10-$100 in fees to open or close on the bitcoin network. More likely Starbucks would open a channel with your bank and it's suppliers and close the channel each day, week, month to settle the account.
I disagree. As far as i understood the Lightning protocol, although it's not easy and maybe I'm mistaken, if millions of customers open long lasting channel with Sturbucks there is no need to close all of them to bring funds back to fiat. Lighning channels can transfer the funds between each another, and in the end of the day Starbacks can transfer the funds from all daily transactions to "closing" channel (to call it that way) and confirm all of them from arbitrarily large number of customers with paying one single transaction fee for closing the "closing" channel. I believe they would gladly pay one opening/closing fee for each day, regarding the potential number of transactions.
I don't think opening a channel with Starbucks and every other company you deal with is going to be the most efficient use of LN. If the average Joe does use LN, he will open channels with a bank or service provider like Coinbase. That provider will have open channels with major companies like Starbucks and your employer so that there are payments being made in both directions. The companies are paying out to some people and being paid in by others but only the net difference is recorded to the blockchain periodically. However, most people will just leave their coins with the bank/provider to handle the details so I still don't think the average Joe will use LN. The average person reading this thread might though.
207.
Post 24716309 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.27h):
aaaand 3, 2, 1....
*bzzzzz* wrong!
any time now though.
so, wait, this cross chain thing, what the fuck? HOW? i mean, someone, somewhere, has to take he BTC amount and give out the LTC amount, but from what i saw in the demo video, neither of the two involved did that. one sent out btc and got ltc. the other sent out ltc and got btc. i'm very confused.
It was a demo/test of the lightning network. Both people would need an open channel on each blockchain.
208.
Post 24762539 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.27h):
someone should make a 16mb fork. 16mb scales so much better then 8mb bch, that's the future.
Somebody is probably rushing to register the domain segwit16x.com now that you said that.
209.
Post 24766269 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.27h):
Can someone tell Ver and Wu to pump another fork so I can cash them out too? Maybe a nice BTG or BTX pump? Thanks!
210.
Post 24800188 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.27h):
It is not useful to allow dishonest people to operate in a rules based environment where the ultimate foundation of the entire project is honesty.
Bitcoin is whatever the consensus mechanism decides it is. That was the original idea and one of the foundational pillars of what makes bitcoin as an idea able to function at all, and the result is in. Continuing to complain about it, and even going to far as to split the blockchain in two, is nothing short of an attempt to undermine bitcoin as a whole. They are enemies, not only of the personal wealth of many of us here, but far more importantly they are enemies of a lifeboat for countless millions of people when the economy collapses. They are, in a word, evil, right down to their core.
I agree. Consensus is very hard to achieve which guarantees very little change happens and change that is controversial never happens.
211.
Post 24861946 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.28h):
It should be over $9000
Give it a day or two! $16,000 by Feb. Doubling from 4000 to 8000 was ~90days
212.
Post 24864277 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.28h):
So far this year since July bitcoin price has stayed within the channels of this pitchfork drawn on a log scale chart:
The trend lines suggest a mid-term top around $9000 followed by a correction back to $7500. Price could also correct back the the mid-line at $6500. Where it gets interesting is if price breaks through the top trend line. Also something to keep in mind is January tends to be a down month, so I am expecting a rally into middle of December then some profit taking.
I cringe whenever someone talks about profit taking in regards to exchanging bitcoin for fiat. Bitcoin is not a stock. I don't know how people sleep at night with their money in fiat.
213.
Post 24871557 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.28h):
Congratulations I'm sure.
In other news, I think I'm gonna try to dump bgold tomorrow. I think it might be shit and dying. Thoughts?
Don’t. It’s too early. The next time Bitcoin has huge drop at least some people will run to Bgold. It will then start developing a following. I think we need to be patient and give it time. I sold my Bcash too early and could have earned more.
Once Coinmarketcap gets the market cap correct (not sure what's taking so long), I think it will help. It is really the number 10 coin right now but it isn't showing up.
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Post 24924990 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.28h):
It's probably a good idea to read about futures to understand how they can affect the underlying commodity. If there is a price difference, people can make a profit by arbitrage. Who knows what the volume will be on CME or whether that volume will be enough to move the bitcoin price though.
https://www.investopedia.com/university/futures/https://www.investopedia.com/terms/c/cash-and-carry-arbitrage.asp
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Post 24925443 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.28h):
Yes but this will still be people "buying" bitcoin without actually really having any coin, I don't like it
They have to buy or sell "actual" bitcoin for the arbitrage to work without risk exposure.
216.
Post 24925834 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.28h):
Yes but this will still be people "buying" bitcoin without actually really having any coin, I don't like it
They have to buy or sell "actual" bitcoin for the arbitrage to work without risk exposure.
If the future says “$20,000” and the current price is “10,000”, people will fall over themselves to sell the future and buy real bitcoins. And market participants are handicapped because they can only buy futures and not the underlying asset.
This is one of the few times in history where average speculators have a regulatory enforced edge on Wall Street. But the level of whale games is only going to blow out from here.
You can bet someone will be making that arbitrage trade even if it's not the regulated Walls Street money. You can also bet that Wall Street will be pressuring regulators to let them play.
217.
Post 24927155 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.28h):
BTG started trading on Bittrex a couple of hours ago and it is surging. Sure wish Coinmarketcap would get their shit together and add it to the first page. It is currently the number 5 coin by market cap.
218.
Post 24930642 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.28h):
BTG started trading on Bittrex a couple of hours ago and it is surging. Sure wish Coinmarketcap would get their shit together and add it to the first page. It is currently the number 5 coin by market cap.
I think the problem is CoinMarketCap doesn’t know how many are issued so can’t calculate the market cap.
That may be true but how could they not know that? The current block is known and it follows the exact same distribution as bitcoin. Seems like they would be able to figure it out since they figured out 1200+ shitcoins.
219.
Post 24932460 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.28h):
Just a $500 drop, nothing to see here...
220.
Post 25039583 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.28h):
Isn't good enough for the performance figure, if something claims is 30% better then anything else that exists it has to be independently verified, but is good enough that it is not a scam. Guy has no reason to risk his reputation for something like that.
Bitmain, Spondoolies, etc. sent out demo units that proved they were real with real specs. If Halong Mining won't do that, I'd consider that a deal-breaker red-flag.
Also, even if they have a working prototype, there is no guarantee that they deliver on time and within specs. They are funding the production run with the presale.
221.
Post 25170352 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.28h):
Jesus... So many ignored posts in the last page... Bullish?
222.
Post 25283328 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.29h):
Its definitely positive. It means everyone with a brokerage account suddenly has access to bitcoin without having to deposit onto a third party exchange they might not trust, and they can go in and out of bitcoin trades next to their stock trades. It means massive liquidity. Think billions of dollars suddenly added to the finex order book. Possibly with leverage too. I posted on here some time in 2013 or 2014 a prediction that if BTC were to be integrated with standard brokers, the price would immediately surge to $10K. This is what the rally has been all about.
I was under the impression that CME futures did not touch Bitcoin directly at any moment during the entire process. It's USD all the way. Am I wrong?
They are futures contracts which means eventually at some date on the contract, the exchange has to buy actual bitcoins and deliver them. In addition, the futures prices will move the bitcoin price by mere arbitrage.
Sorry but no. They are cash settled. It is a fiat bet on bitcoin price in $. Nothing more.
Other players will move BTC price by arb.
could you explain the arb angle though?Here is how I understand it:
Trade 1:
If the futures contract price is above the current BTC price (say future contract is $11000 vs actual BTC at $10000):
(1) Sell (short) the futures contract. $11000
(2) Buy actual BTC for a lower price than the futures contract settlement rate. $10000
(3) Wait until the futures contract settlement date to cash in the futures contract and sell the BTC you bought as part of this trade.
It's a risk free trade. No matter what happens, you have a $1000 USD profit minus trading fees and borrowing costs.
If BTC/USD drops to $9000, you will lose $1000 value on your BTC but your futures contract short will be worth $2000 so a net profit of $1000.
If BTC/USD stays at $10000, your BTC is worth what you bought it for but your futures contract short is worth $1000 so a net profit of $1000.
If BTC/USD goes to $11000 and the contract settlement rate is $11000, you make nothing on the contract but the BTC you bought for $10000 is worth $11000 so a net profit of $1000.
If BTC/USD goes up to $12000, your BTC will be worth $2000 more than you bought if for but you will lose $1000 on the futures contract short so a net profit of $1000.
Trade 2:
If the futures contract price is below the current BTC price (say future contract is $9000 vs actual BTC at $10000):
Reverse trade 1 above.
So, the prices should stay in sync assuming enough people arbitrage. Of course, traders know arbitrage will happen so prices should stay in sync even without it. The futures price will be an indicator traders will use.
The interesting part of either scenario is the limited supply of coins for sale and to borrow for shorting and the nearly unlimited supply of fiat in the world. Could get interesting.
223.
Post 25336438 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.29h):
You don't even need to check anything with sensationalist claims like that. Shit article by a shit author.
Light Pollution in the U.S. alone: 120 terawatt-hours/year
Bitcoin Network: 29.05 terrawatt-hours/year (
Confirmation? Some articles cite 11 Twh/yr ?)
CERN Hadron Collider: 1.3 terrawatt-hours/year
Yeah, let's get the global light pollution levels solved first before we start considering Bitcoin energy consumption a problem...
Assuming a network at 10 Exahash/10,000 Petahash/10 Million Terahash/10 Billion GH/s and an average miner efficiency of .3 Watts per GH then I come up with 26.28 terrawatt-hours/year. That is about the efficiency of an Antminer S7 but the majority of miners are probably S9s or equivalent so that seems really high. .2 Watts per GH/s would still be high but closer to reality considering other power costs such as cooling. That would bring us down to 17.52 terrawatt-hours/year.
10,000,000,000 GH/s X .2 Watts/GH/s X 24hours X 365days = 17,520,000,000 KW/h or 17,520,000 MW/h or 17.52 TW/h
It's all based on your assumptions and of course the article didn't say what assumptions it used.
224.
Post 25341938 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.29h):
At 43:06 of the video, does he say "
the owner of bitcoin cash doesn't like it being called bcash"?
https://www.youtube.com/watch?v=OJT2CbfHTpo&feature=youtu.be&t=43m06s
225.
Post 25403344 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.29h):
You seem to be missing the awareness that you are coming across like a dicknose.
Some people just pay too much attention to some of the less relevant words, and not enough to higher purposes ideas. Getting offended by a few words is pointless. And usually people don't like to hear truths about themselves that they have not reached themselves and the details of which they have not processed yet.
Jesus, fuck off already. Ignored!
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Post 25448539 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.29h):
BTFD
227.
Post 25521760 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.30h):
They obviously don't make any money from the site so they have abandoned it.
228.
Post 25583477 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.30h):
jesus...I still feel like ass
I'm not drinking again till 20K
So later this week?
229.
Post 25831830 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.31h):
How do you short IOTA? This shit is getting stupid. At this rate it will overtake bitcoin in about a week.
230.
Post 25832261 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.31h):
How do you short IOTA? This shit is getting stupid. At his rate it will overtake bitcoin in about a week.
I think it is only traded in Bitfinexed, but I would refrain to short anything crypto. I was seriously thinking about shorting IOTA when it first passed $1... Fortunately I didn't.
So much for a coin that doesn't even work... sigh.
I will repeat it again: Never, ever short anything crypto. (I am repeating it to never forget it myself).
Can bitcoin please double in a day like IOTA? Like $100k to $200k would be nice. Come on Wall Street. I start selling my coins when you pump us to $100k.
231.
Post 25832755 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.31h):
Can bitcoin please double in a day like IOTA?
We did that already, in 2013. Look where that led us.
This is why I prefer correcting as we go.
That's true, BTFD.
Looks like we are due for a dip down to at least $10k soon.
232.
Post 25833625 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.31h):
Korean exchanges just can't get enough. We are at an all time high and they are still leading by about $2000.
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Post 25880249 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.31h):
234.
Post 25882950 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.31h):
OK finally sweeping a small paper wallet, so gotta dump me some clone coins. I got BCH, BTG, and Bitcore. Using Coinomi. did I miss any? It's not old enough for clams...
Edit: You didn't miss any but here is what may be coming and you will need your old key for BCD:
11/23/2017 Bitcoin Diamond (BCD) - Already split but launching in Dec
12/12/2017 Bitcoin Platinum
12/17/2017 Super Bitcoin
Sometime in Dec Bitcoin Uranium
Sometime in Dec Bitcoin Silver
12/25/2017 Bitcoin God (GOD)?
1/2/2018 Bitcoin Cash Plus (BCP)
1/28/2018 Segwit 2x (B2X) retry?
235.
Post 25883378 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.31h):
Samsung, Kia, or Hyundai need to take some of their US profits and buy bitcoin then sell them in Korea. At this point, they might be the only ones big enough to arbitrage this. How long before a China Korea ban on Bitcoin?
236.
Post 25883687 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.31h):
snip...
Have they already had snapshots? 'cause there's nothing left on that address now. BCD I guess has... I can check later, if it hasn't been compromised by coinomi. Surprisingly easy to use coinomi. I just stuck the app on my old phone, set a password, and started scanning the QR code over and over again
I was expecting... more work.
Only BCD, who knows if the rest will even happen. Also, Coinomi is the only way to go for claiming shit forks!
237.
Post 25883904 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.31h):
AUD $22000 high
$3500 arbitrage on USD exchanges, rate 0.76
USD $14000 btc
AUD should be $18500 btc
insane
if only i could transfer AUD to USD
Too bad the Forex market isn't using bitcoin. Seems like maybe they should. I wonder what's driving the Australian demand.
238.
Post 25884999 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.31h):
The trillions better hurry, the South Koreans are buying all of the coins for sale under $100k.
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Post 26041893 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.31h):
Every time we have a huge spike in prices we pick up a whole new group of weak hands.
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Post 26111863 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.32h):
241.
Post 26229555 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.32h):
This is truly awesome. Very well written!
242.
Post 26231196 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.32h):
If it is true that only 0,01% of the population today uses bitcoin, and the price is almost 20000 USD, imagine the price when 50% of the population uses bitcoin. We are talking several hundred million dollars, maybe even in the range of a billion. One million will be reached within two years at this rate.
im a superbull - but thats even too much for me:
That's what some people said in here when I predicted 10000 by the end of this year and 80000 by the end of next year, and look where we are now.
Yeah, the human brain is not very good at understanding big numbers. $100-$10,000 seems doable but $10,000 to $1,000,000 seems impossible. That's why they created the stock split to keep people buying with astronomical stock prices.
243.
Post 26231995 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.32h):
I dont think you understand how much fiat money has to be put into btc for a 1 million valuation.
I think people overestimate how much fiat it will take to go up another 60x. Here is a thought experiment:
What if the decimal place was moved in bitcoin to give a 1:1000 split? If collectively everyone used the term bitcoin for the unit of value we currently call a millibit or mBTC making the total eventual supply 21 billion instead of 21 million, the price currently would be ~$16.70.
How hard would it be to pump it over $20? Would it be that hard to get to $100 again for an equivalent $100,000 value or $1000 for an equivalent $1,000,000 value?
2 years might be a little soon but who knows?
244.
Post 26348278 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.32h):
It looks like Korea is back to pushing us higher. Leading by $1000 again after being pretty much even for a while.
245.
Post 26348752 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.32h):
ATH on Stamp!!!!
246.
Post 26349002 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.32h):
Stamp ATH tied but not broken (yet)
Hey, it flashed on bitcoinity. It's a tie at least. its down to the cents.
247.
Post 26402555 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.32h):
I wish people would do some math and realize that a block size increase is a temporary solution. Bigger blocks don't come without an expense to the system. If blocks were a gigabyte, they wouldn't propagate efficiently through the network and the blockchain would be enormous and grow at a ridiculous rate.
As the block subsidy shrinks over time, miners are going to drive the fee market anyway to recover income even if the block size does increase. High fees calculated in USD are inevitable.
Bitcoin can't be all things to all people. It can't cover all use cases. There will be alts for most use cases. Bitcoin is more likely to be the tool for big transfers and high value smart contracts, even a $1000 fee for a billion dollar asset/transfer is a bargain.
I've said it before, you don't use the world's most secure network to buy coffee.
248.
Post 26403377 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.32h):
I wish people would do some math and realize that a block size increase is a temporary solution.
That's exactly what it's about, to gain time, not to lose network effect and market dominance while you find other solutions.
Bitcoin can't be all things to all people. It can't cover all use cases. There will be alts for most use cases. Bitcoin is more likely to be the tool for big transfers and high value smart contracts, even a $1000 fee for a billion dollar asset/transfer is a bargain.
So you are other of those who think that Satoshi was wrong? and that its system does not serve the purposes for which I believe it? And that you, like so many others, are the enlightened ones who came to save us from the stupid Satoshi and his faulty system, telling us what really works?
Satoshi is not a god. He had a good idea that a team of other people refined and perfected to make what it is.
I'm saying reality prevents bitcoin from becoming all things to all people. Every purchase, every stock trade, every asset, every device, every forum post, every medical record, etc can't be on the bitcoin blockchain. It can't cover all use cases. Do some math. Multiply people on the planet by each each use case times the number of occurrences per day. Add it up. Tell me how bitcoin can be all things to all people.
249.
Post 26403478 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.32h):
Ever-increasing fees with no end in sight is a crisis. I predict hundred dollar fees within a year if nothing is done to increase throughput. And nobody fucking uses segwit, that makes it a failure. IT SHOULD NEVER HAVE BEEN OPTIONAL.
If bitcoin is worth $100k each then I think $100 fees are reasonable. No crisis.
250.
Post 26514543 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.33h):
251.
Post 26702758 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.34h):
Actually a really civil debate. I need to start following Jameson on Twitter. Roger actually had a lot of good points but he turned into a babbling idiot at the end by promoting bcash as one of two versions of bitcoin which he admitted was an altcoin earlier in the conversation.
They are both really smart dudes but Roger has a streak of idiot that runs deep.
252.
Post 26747812 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.34h):
Indeed.
Roger Ver has done a huge amount to further Bitcoin adoption. Perhaps more than anyone else besides Satoshi Nakamoto. He truly loves Bitcoin and wants to see all of the world adopt it. That people now abuse him for trying to fix the problem of high fees and unreliable confirmations is heart-breaking for me.
You don't fix bitcoin by cloning it and trying to steal the brand.
253.
Post 26769760 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.34h):
Breaking 24777$ prediction game
09/01/2018 explorer
13/01/2018 undeadbitcoiner
14/01/2018 northypole
15/01/2018 ivomm
25/01/2018 orpington
27/01/2018 LFC_bitcoin
28/01/2018 jojo69
31/01/2018 realsteelboy
12/02/2018 yonton
13/02/2018 Wekkel
19/02/2018 BitCoinBurger
06/03/2018 sa_94
07/03/2018 NUFCrichard
05/11/2018 mikenz
Maybe because its This time of the year we make a small game Just to call 24777$ (CET) the one with the day of breaking This price wins .25 BTC
The list Will be Made after This post So When a date is taking iT cannot been taken again
When the winning date is exactly in the middle of 2 each Will get .25
Oterwhise closest to the winning date wins
LIST MAKING ENDS 25-12-2012 @ 22.00 cet
26/01/2018 rolling
254.
Post 26802315 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.34h):
All aboard!
255.
Post 26809171 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.34h):
Yeah, every trade is a taxable event to US persons. Whether that is buying coffee or litecoin. It is property according to the IRS.
Even if you thought you could get away with the like kind exchange rule, you still have to report every trade individually on the exemption form.
If it were classified as a stock, you could just report net gains and losses but not so with property.
They have made compliance nearly impossible so unless someone passes a law to exempt transactions prior to a certain date, a lot of people are going to owe back taxes and penalties if not jail time.
256.
Post 26809253 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.34h):
Yeah, every trade is a taxable event to US persons. Whether that is buying coffee or litecoin. It is property according to the IRS.
Even if you thought you could get away with the like kind exchange rule, you still have to report every trade individually on the exemption form.
If it were classified as a stock, you could just report net gains and losses but not so with property.
They have made compliance nearly impossible so unless someone passes a law to exempt transactions prior to a certain date, a lot of people are going to owe back taxes and penalties if not jail time.
Simple solution: Become an expat.
Does not apply to US citizens unless you give up your citizenship.
257.
Post 26809602 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.34h):
Yeah, every trade is a taxable event to US persons. Whether that is buying coffee or litecoin. It is property according to the IRS.
Even if you thought you could get away with the like kind exchange rule, you still have to report every trade individually on the exemption form.
If it were classified as a stock, you could just report net gains and losses but not so with property.
They have made compliance nearly impossible so unless someone passes a law to exempt transactions prior to a certain date, a lot of people are going to owe back taxes and penalties if not jail time.
Simple solution: Become an expat.
Does not apply to US citizens unless you give up your citizenship.
That's right, you still have to pay !
That's really just another reason to renounce citizenship.
Does the US not have double taxation treaties though? In some places you can just create an offshore company, tax your profits in a different legislation, and then be exempt from further taxes under your own legislation due to the treaty as you've "already paid them" (even if the taxes are as low as 2% or even 0%).
There is really no good loophole. They have locked it all down. What you describe would be a "Controlled Foreign Corporation" which has it's own issues. Giving up citizenship has an exit tax plus they will still come after you years later if they find out you didn't pay what you owed.
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Post 26812673 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.34h):
259.
Post 26913468 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.35h):
FACT CHECK
Ok, as of right now, the price to send a transaction in the next block is about 140 satoshis per byte and a typical 1 input/2 output transaction is about 225 bytes. At $14k per bitcoin, a satoshi is worth $0.00014. So, 140 X 225 X $0.00014 = $4.41 per transaction.
Value of a Satoshi = Bitcoin price divided by 100,000,000
Typical Transaction Size = 225 bytes
Current fee in Satoshis per byte for next block = 140
Satoshi Value x Typical Transaction Size x Satoshi fee per byte = Transaction Cost.
Currently:
$0.00014 X 225 X 140 = $4.41
At the peak:
$0.00020 x 225 x 1000 = $45.00
260.
Post 27249028 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.36h):
Remember everyone. The end game of all of this fud, shit coin pump and dump, mempool spam, forks, and now empty blocks, is to separate you from your bitcoin. It would take a team of full time employees to keep track of all the shit. If you don't have a team of full time employees, the only move here is to hodl. Don't let them have YOUR bitcoin. Make them pay for it at a premium. Stop thinking so small! Take a year off. This is a long game. 4 years is nothing in the grand scheme of things. Relax, forget about bitcoin, go back to work, come back in a year.
261.
Post 27372852 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.36h):
Silly poll doesn't have any choices over 22k???
262.
Post 28358377 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.39h):
Everyone is piling back in. Alts are going crazy again.
263.
Post 29130782 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.40h):
WTF happened to the mempool? This is not the bitcoin i know. (i kid, i still remember 0 fee tx's)
Fees are as low as 1-10sat/b right now. I mean. What the fuck?
https://bitcoinfees.earn.com/Could it be that those spamming fucktards finally realized if bitcoin goes down they do too?
Yep, 5 sats per byte will probably get you into the next block or two.
BTC/USD price/100 million = satoshi/USD price * satoshis per byte * bytes = USD transaction cost
$11,700 / 100,000,000 = $0.000117 * 5 * 225 = ~$0.13 cents for a standard 225 byte transaction
https://dedi.jochen-hoenicke.de/queue/#24h
264.
Post 29679220 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.42h):
Who sold at the bottom?
265.
Post 29980575 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.43h):
I think alts are a disease and we won't have another 10x or 100x increase until the alts largely die off. Every time bitcoin pumps and the alts pump even harder, it is like cancer overtaking the body every time it starts getting healthy. This sickness will have to run it's course and when the disease has been cured/eradicated, bitcoin can finally grow to it's true potential. This will probably take a few more years.
266.
Post 29982320 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.43h):
Doesn't matter what I think, and as you said "people who understand the value of bitcoin". Newbies don't understand shit, but, they do understand metrics like market cap, so it will hurt bitcoin. If bitcoin is not number one on the shitty marketcap metric that will hurt bitcoin adoption plain and simple.
What do the advertisers say? "you don't need a good product, just good marketing"
In that case, bitcoin was fucked from day one. 21 million coins for the entire world economy was never going to work. Most world citizens (>99%) have never had $8750 at one time in their lives. They will never buy bitcoin at that price. They will buy Ripple for $1 instead.
EDIT: Yes, I know they are divisible but the average idiot can't comprehend that.
267.
Post 29983188 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.43h):
Doesn't matter what I think, and as you said "people who understand the value of bitcoin". Newbies don't understand shit, but, they do understand metrics like market cap, so it will hurt bitcoin. If bitcoin is not number one on the shitty marketcap metric that will hurt bitcoin adoption plain and simple.
What do the advertisers say? "you don't need a good product, just good marketing"
In that case, bitcoin was fucked from day one. 21 million coins for the entire world economy was never going to work. Most world citizens (>99%) have never had $8750 at one time in their lives. They will never buy bitcoin at that price. They will buy Ripple for $1 instead.
EDIT: Yes, I know they are divisible but the average idiot can't comprehend that.
The real problem though is that the idiots don't understand the importance or decentralization, lack of a central authority, deflationary monetary system, developer talent, trustless, and so on. Bitcoin is the best coin without a doubt in my opinion. But, how in the fuck can we get mass adoption, when most people still think the media, and governments are the good guys. Crypto will get mass adoption, but, I fear that it will be a bullshit coin supported by the banks, media, and governments.
I agree, I think the coins that will do the best with the coming mass adoption will be the ones who have the largest number of coins in circulation so they seem cheap to the idiots. Why buy a bitcoin when you can buy 10 ETH or 8000 XRP for the same price? Luckily, big institutional money will still flow into bitcoin.
268.
Post 30043367 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.43h):
We have to shed the alts to go up. You will know we are going up for real when the alts don't follow. Otherwise, we will keep going back down each and every time.
269.
Post 30098572 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.43h):
this recent ETH/BTC peg at .1 is eerie...and boring AF
I agree, it needs to get back to 0.01 where it belongs.
270.
Post 30502840 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.44h):
Just find it funny that the American Revolution was sparked in part by a 5% tax. They would be burning everything in sight if they had to deal with today's taxes.
Calculated my effective tax was about 55% at one point. Income Fed/State Tax, SS, Medicare, Property, Sales taxes on everything you buy. It's getting out of control really.
Blame the current income tax situation on the prohibitionists. In order to get alcohol banned, the government needed to come up with an alternate source of revenue. Unfortunately, by the time prohibition got repealed, FDR came into power and the government wanted the extra money for the New Deal. Later they wanted to fund a war. Now the US federal government is bloated in social programs and "defense." Not sure why the US feels it needs to outspend the rest of the nations in defense. It's especially ridiculous since most of the wars the US have been involved in since WWII have resulted in stalemates or a loss. Only victory that I recall was Operation Desert Storm.
The US Defense Industrial complex is the biggest social program in the US. Some programs in development are not even wanted by the military itself. It is usually defense contractors lobbying their congressmen to get the contract included in the budget so there are more jobs in the congressman's district. It's all about the jobs.
271.
Post 30514064 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.44h):
Korea is leading this thing again as they did during the entire run up to 19666. That is a good sign. There are no trading games to be had when there is real demand for a finite resource.
272.
Post 30521495 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.44h):
It is a little mind boggling that anyone would sell during the weekend knowing they could sell for 10-20% more on Monday. Can a bear explain the mentality?
273.
Post 30588618 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.45h):
If history is a guide, we are due some pain.
Except, Korea doesn't care. Every time we go down, they just increase the gap. They will lead us higher. When they are even or less than western exchanges, then we might have to worry.
*Also, this website has an onkeyup function in this posting box which means they are capturing keystrokes. Be careful with what you type here.
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274.
Post 30588913 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.45h):
If history is a guide, we are due some pain.
Except, Korea doesn't care. Every time we go down, they just increase the gap. They will lead us higher. When they are even or less than western exchanges, then we might have to worry.
*Also, this website has an onkeyup function in this posting box which means they are capturing keystrokes. Be careful with what you type here.
<textarea class="editor" name="message" rows="12" cols="60" onselect="storeCaret(this);" onclick="storeCaret(this);" onkeyup="storeCaret(this);" onchange="storeCaret(this);" tabindex="2"></textarea>
Good point. Perhaps I should be mapping the arbitrage gap to Korea instead. But does Korea really lead or just follow at a higher price?
I don't know if they lead or lag but the gap seems to increase whenever we go lower. That seems to indicate they are willing pay an increasingly higher price. (real demand)
275.
Post 30648407 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.45h):
It seems like every time one of the US regulatory bodies gets an opportunity to talk about the crypto space, it is positive. It makes you wonder why they are so supportive?
Now, law enforcement is a different story. Individual officers are just trying to get awards and medals for arresting people. Whenever there is a gray area, there is an opportunity for an inventive law enforcement officer to make a move to better their career standing. That isn't necessarily in line with the government's desires.
Why is the US Government so supportive?
276.
Post 31216026 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.46h):
I find it interesting that the story about craig wright being satoshi has resurfaced again.
Not only in this thread, but I saw a few more topics on the forum today. I am not a veteran in the crypto space like most of you are, so I do not know if this has happened many times before. But I have noticed that certain news stories(if you can call them news) get recycled every once in a while. Which has an impact on newer people in crypto. Perhaps creating uncertainty or doubt?
https://en.wikipedia.org/wiki/Jumping_the_shark Billionaire philanthropist and Microsoft co-founder Bill Gates said no technology has "caused deaths in a fairly direct way" to the extent that cryptocurrencies have.
He said that the ease with which people can anonymously buy drugs is a major problem, and suggested that
cryptocurrencies are used to launder money and fund terrorist organizations.
Gates also added that "the speculative wave" around initial coin offerings and cryptocurrencies is "super risky."
Oh the horror! Law enforcement will actually have to do its job again rather than just choking off the money supply and/or convicting violent criminals of money laundering instead of their actual crimes.
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Post 31888419 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.47h):
What a fucking shit show. Looks like 2018 will be another 2014.
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Post 32719925 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.49h):
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Post 34170742 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.51h):
very quick short list for a small "game list" or how i have to call it..... only when breaking 12288 dollar price..... almost same rules as the list before just a winning date AND
.15 BTC for correct date
only accounts with minimum 5 Merit and 20 activity (last time to many new pop't up
)
LIST CLOSES tuesday 12 CET allways CET time no execptions
just for quick enjoyment
normal tommorrow i look @the dates.... firts one posted has the choosen date , some one with the same date have too take another one so look out a bit....
DATES sended in PERSONAL MESSAGE will NOT count
let us break back 5-digits
I'll take June 20th, 2018
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Post 34954426 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.52h):
Asshole spewing vulgar idiocy...
Wow, what vile nonsense. /Ignored
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Post 35438953 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.53h):
"the real bitcoin" will, unfortunately, always be a matter of opinion not fact.
Someone give this man a deMerit^
I am not defending Ver and his trash coin. I am as adamantly opposed to BCash as anyone here. All I'm saying is that any argument that you make that one bitcoin is objectively "the real bitcoin" breaks down.
You sir, need to lay off the crack pipe
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Post 35439059 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.53h):
"the real bitcoin" will, unfortunately, always be a matter of opinion not fact.
Someone give this man a deMerit^
He was going so well at not being a troll too.
No I am not trolling. I really do believe what I have said and it is a conclusion that I arrived at after significant contemplation.
Well, you really need to see a doctor and get medicated for your condition then.
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Post 35439110 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.53h):
"the real bitcoin" will, unfortunately, always be a matter of opinion not fact.
Someone give this man a deMerit^
I am not defending Ver and his trash coin. I am as adamantly opposed to BCash as anyone here. All I'm saying is that any argument that you make that one bitcoin is objectively "the real bitcoin" breaks down.
You sir, need to lay off the crack pipe
Well then make an argument for why your preferred fork is "the real bitcoin" that is not based in opinion or some sort of logical fallacy.
Some things are self-evident
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Post 35439900 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.53h):
Bcash is a fork. Bgold is a fork. These are forks of Bitcoin.
This is the least complicated thing ever.
Let me be clear guys. I share your opinion. It is my opinion as well that bitcoin core is the real bitcoin. All I am arguing is that that is my opinion and not a fact that is in some way objectively valid.
In what fundamental sense is bcash different from bitcoin core that makes it the fork and not bitcoin core the fork of it? Bitcoin core has changed the consensus algorithm too just like bcash. We used to not have segwit enabled and bcash used to not have massive blocks. One isn't "the fork" they are each forks of the other.
#1 Ok, here is an argument for you then. When bcash forked, the market made a choice and declared bitcoin, bitcoin when the value stayed in bitcoin and did not transfer to bcash
#2 Here is another one, bcash changed the difficulty adjustment mechanism (block #478559) before bitcoin activated segwit (block #481824) and was therefore a fork of bitcoin at that instant. Then, even if you want to say segwit is not bitcoin, bitcoin forked from itself at block #481824 and then won the fork with itself and became bitcoin
Did I dumb it down enough for you?
285.
Post 35440888 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.53h):
Bcash is a fork. Bgold is a fork. These are forks of Bitcoin.
This is the least complicated thing ever.
Let me be clear guys. I share your opinion. It is my opinion as well that bitcoin core is the real bitcoin. All I am arguing is that that is my opinion and not a fact that is in some way objectively valid.
In what fundamental sense is bcash different from bitcoin core that makes it the fork and not bitcoin core the fork of it? Bitcoin core has changed the consensus algorithm too just like bcash. We used to not have segwit enabled and bcash used to not have massive blocks. One isn't "the fork" they are each forks of the other.
#1 Ok, here is an argument for you then. When bcash forked, the market made a choice and declared bitcoin, bitcoin when the value stayed in bitcoin and did not transfer to bcash
#2 Here is another one, bcash changed the difficulty adjustment mechanism (block #478559) before bitcoin activated segwit (block #481824) and was therefore a fork of bitcoin at that instant. Then, even if you want to say segwit is not bitcoin, bitcoin forked from itself at block #481824 and then won the fork with itself and became bitcoin
Did I dumb it down enough for you?
I mean I hate doing this because it's getting really boring and I feel like everyone here should have just understood what I was saying by now but:
#1 So it's a democratic thing? Because I can tell you some of the value did go to bcash. So the fact that more went to core is what made it "the real bitcoin"? So if 51% had gone to bcash you would have reluctantly agreed that it was the real bitcoin? Even though ver's ideas are garbage? What if bcash slowly gains more and more and gets to over 50% in the future? Does it then become "the real bitcoin". If the value bounces back and forth back and forth between 49% and 51% relative to each other does the "real bitcoin" change every day as the value changes? Even if I don't go this route and accept your reason. Even if I allow that "the market decided" why does the market get to decide? You still have to say why. You can't just declare it. It just so happens that I agree with the markets decision however If ver's garbage vision for bitcoins future had won out in market capitalization after the fork I wouldn't have accepted it as "the real bitcoin" just because it had slightly more market cap. I would be here saying that core was the real bitcoin in my opinion even though it was slightly less capitalized.
#2 If that is a real reason, than you would have to say that you would call ver's version of bitcoin "the real bitcoin" if the roles had been reversed and core forked first instead of cash forking first. Are you really prepared to stand behind that?
Anyway I'm getting really tired of this and really annoyed that there isn't one single person to step forward to say that they understand what I mean. Even though I really do believe in what I am saying and I think that I have good arguments behind it even I am starting to feel like a troll at this point. So I think I am going to disengage from this pursuit.
#1. Your scenario doesn't matter because that isn't what happened and it doesn't matter anymore, also, see #2
#2. If bcash had forked at the same block as bitcoin, you may have an argument as to which is which but it didn't so bcash is the fork. You can't change how it happened.
286.
Post 35441204 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.53h):
#1. Your scenario doesn't matter because that isn't what happened and it doesn't matter anymore, also, see #2
#2. If bcash had forked at the same block as bitcoin, you may have an argument as to which is which but it didn't so bcash is the fork. You can't change how it happened.
Jesus christ man.
https://en.wikipedia.org/wiki/Socratic_methodYou're beat just stop already. You can't rewrite history to suit yourself. I understand that there are many scenarios in which bcash "could" have been declared bitcoin but those things didn't happen. We are not discussing what may or may not happen in a fork situation, we are talking about what actually happened which is bcash forked from bitcoin. End of discussion.
287.
Post 35497320 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.53h):
Who is manipulating the market? Where is all that money coming from? Big Whales? Wall Street? Fact for me is, it wont end well. If BCash could achive 4k before the Fork, I´ll sell mine.
I think all of the money is coming from all the people who sold on the way down. It isn't necessarily new money. There is still a lot more old money waiting on the sidelines or in alts too.
288.
Post 35497721 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.53h):
Who is manipulating the market? Where is all that money coming from? Big Whales? Wall Street? Fact for me is, it wont end well. If BCash could achive 4k before the Fork, I´ll sell mine.
I think all of the money is coming from all the people who sold on the way down. It isn't necessarily new money. There is still a lot more old money waiting on the sidelines or in alts too.
I thought that too. But it does not make much sense to me. Why not buy at the bottom at 6k? Instead wait and now buy at 9k.
Not everyone has perfect vision. It's rare that you make your moves at the exact bottom or top. Why did they sell on the way down anyway? A lot of that money thinks we are still going lower and so they will wait.
289.
Post 35594750 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.53h):
Just received this from Circle:
Our latest endeavor is here - meet Circle Invest. It's an app for investing in crypto, backed by years of experience. Instant purchases and zero commissions on BTC, BCH, ETH, ETC, LTC so you never miss a buy. Try Invest with your Circle Pay sign in today.
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Multiple coins and more on the way + ROI and performance tracking
Instant deposits from your bank so you never miss a buy
$1 minimums make it easy to learn as you go
Covering your assets with offline storage, two-step verification and privacy protection
https://www.circle.com/en/invest
290.
Post 36156103 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.54h):
I remember the first time I smoked crack.
I know right? Either BTC would have to be $250k or ETH would have to be $1200. One of the numbers must be a typo.
291.
Post 37495180 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.55h):
Won't work for most people though:
Are you an Eligible Contract Participant?
All LedgerX Participants must qualify as Eligible Contract Participants (ECP).
You must meet at least one condition in the column you're using in order to qualify as an ECP.
Select all that apply*
I am an individual who has amounts invested on a discretionary basis, the aggregate of which is in excess of $10,000,000 (an “Eligible Individual”).
I am an individual who has amounts invested on a discretionary basis, the aggregate of which is in excess of $5,000,000, and who enters into Swaps in order to manage the risk associated with an asset owned or liability incurred, or reasonably likely to be owned or incurred, by the individual (a “Hedging Individual ECP”).
292.
Post 39456513 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.57h):
bitcoin just had a 14.7% difficulty change upwards. that's the biggest since january. there sure is a lot of firepower out there somewhere.
The difficulty increased by 634 billion which is the largest increase in the history of bitcoin. The increase in this period alone is nearly equal to the entire network difficulty 1 year ago.
293.
Post 39518099 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.57h):
Blaming capitalism for the mess the governments have created.
top government people and top business people are... the same.
and the big corps are decidedly bad actors in the whole situation
Many feel, mistakenly in my opinion, that government needs to exist as a counter to corporate power. They tend to cling to the fiction that government is an actual civic authority and not already hopelessly captured by the very corporate entities they, rightly, fear.
Corporate power and government power both stem from unsound money. If the whole world used the same hard money (bitcoin), corporations and government worldwide would have to prove their worth to secure funding and live within their means to pay their debts.
In a world of easy money controlled by the government and corporations, human nature will always lead to corruption and greed.
The fix is coming and the fix is bitcoin as the world's single reserve currency. Any country not backing their money with bitcoin in 20 years will see their own currency hyper inflate.
It could very well be that the first countries to do so will end up being the worlds new superpowers just like the US became after the dollar became the world's reserve currency.
294.
Post 39520557 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.57h):
Blaming capitalism for the mess the governments have created.
top government people and top business people are... the same.
and the big corps are decidedly bad actors in the whole situation
Many feel, mistakenly in my opinion, that government needs to exist as a counter to corporate power. They tend to cling to the fiction that government is an actual civic authority and not already hopelessly captured by the very corporate entities they, rightly, fear.
Corporate power and government power both stem from unsound money. If the whole world used the same hard money (bitcoin), corporations and government worldwide would have to prove their worth to secure funding and live within their means to pay their debts.
In a world of easy money controlled by the government and corporations, human nature will always lead to corruption and greed.
The fix is coming and the fix is bitcoin as the world's single reserve currency. Any country not backing their money with bitcoin in 20 years will see their own currency hyper inflate.
It could very well be that the first countries to do so will end up being the worlds new superpowers just like the US became after the dollar became the world's reserve currency.
I see nothing to take issue with in that.
I was merely elucidating the "progressive" viewpoint. Many on the left are genuinely good people, fighting the great power as they understand it, with the tools they think they have. True lovers of liberty would do better to educate than to deride.
I understand. I'm just pointing out that the differences between left and right are only possible because of unsound money. The whole debate and the differing views can only be possible in a world of unchecked power made possible by unsound money. All of the fighting between left and right would likely be mute if the world used the same hard money.
The free market would decide the demand for government services and corporations. When everyone competes fairly for limited resources, the only way to survive as a government service or private service is to provide true value that people demand their money be used for.
295.
Post 39590421 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.57h):
Hashrate vs Price all time (log scale):
Interesting. Log scale shows an almost inverse correlation between hash rate and price.
I wonder if this holds true for more than just the past year (didn't realize graph was all time
). Did price dip with that big increase in hashpower recently?
Of course correlation =/= causation.
I am seeing a feedback loop. The price spikes lead to investment in mining gear and the resulting increase in hash power leads to the next spike in price which fuels the next round of investment in mining gear, etc., etc.
296.
Post 39689920 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.57h):
We'd be wise to remember that no exponential trend can continue indefinitely in a finite world.
We've had 8+ years of exp growth. I'd be fine with just 8 more years.
This would place the market cap of BTC at approx. 1 - 2 quadrillion USD (based on 175 day doubling).
Considering the USD won't be around in its current form by then, that sounds about right.
297.
Post 39757942 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.57h):
I hate to be a bear...I think we have a good chance of hitting 4900 -5200 in July to August. Hopefully that would form a bottom. Again it is anyone's guess.
real botom is 2-2.5. Even this forum "oracle" masterluc predicted that before. The sad thing is that this level can be for a long (2-3 years) period. Sad but true.
Hey, if there is someone left dumb enough to sell at that price, then we need to get there and get those coins bought so we can launch. I know mine aren't for sale until we are over 100k. That could take a few years but if someone wants to sell theirs for 2-2.5, then lets get there!
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Post 39817866 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.57h):
5920 and then hard rebound to 10k
299.
Post 40115268 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.58h):
How is producing 10 times the amount of money you have...not printing money out of thin air?
If not out of thin air, where does the new money come from?
It is underwritten by 3rd party debt - either sovereign, corporate or person debt.
A bank cannot simply create money "out of thin air".. They need to get an economically productive entity to underwrite it / "back" it with a promise of future productivity.
This makes no logical sense (although it is taught like this in universities). Money is supposed to represent production. It can only originate from production. Creating money to "represent" debt or future production is literally creating money "out of nothing". This is the problem with the current system, it is backwards and only exists because it allows governments and corporations unlimited power to steal from producers.
Real money can only be created out of production and only after this has happened, can it be borrowed to create debt, not the other way around. The current monetary system is not real money, it is a house of cards built on decades of mind-fucking the public. There will be an awakening.
300.
Post 40117399 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.58h):
How is producing 10 times the amount of money you have...not printing money out of thin air?
If not out of thin air, where does the new money come from?
It is underwritten by 3rd party debt - either sovereign, corporate or person debt.
A bank cannot simply create money "out of thin air".. They need to get an economically productive entity to underwrite it / "back" it with a promise of future productivity.
This makes no logical sense (although it is taught like this in universities). Money is supposed to represent production. It can only originate from production. Creating money to "represent" debt or future production is literally creating money "out of nothing". This is the problem with the current system, it is backwards and only exists because it allows governments and corporations unlimited power to steal from producers.
Real money can only be created out of production and only after this has happened, can it be borrowed to create debt, not the other way around. The current monetary system is not real money, it is a house of cards built on decades of mind-fucking the public. There will be an awakening.
You and many others in this thread are basically saying
"Fractional Reserve is shit"
Let's not forget it's backed by Proof of War.
Actually, it is backed by the trust in it by the public. Once that trust evaporates, it will be worth nothing and war will not be possible. War is only possible with the consent of the public, either through awareness or manipulation of awareness.
301.
Post 40690279 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.59h):
What a sad state of affairs
It's perfectly normal. Anyone shocked by this has not read their history.
The last epic crash was caused by the Gox ‘hack’.
In my opinion a crash of this % wasn’t expected, there’s nothing overly negative driving it. I don’t understand why people are selling now.
They all think they are genius traders who are going to buy back lower. That is all.
302.
Post 40838829 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.59h):
Holy Shit ... Bitcoin difficulty is projected to increase by ~24% in 6 days ...
OK, the culprit is the decrease of BCH because miners switched over to mine BTC instead.
But I believe that the point where mining costs are higher than the BTC value must be here (or nearly here)
I don't know where you are getting the ~24% projection but it isn't even close to accurate.
303.
Post 41154581 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_15.59h):
What if BTC reach 5k$ and stays like that for, idk, 15 years?
No whales bs, no trades speculation, no any no-sense
Could we start spend it like if it was a decentralized cryptocurrencies?
Is this a possible world?
I doubt it’s possible the price could stay at $5,000 for 15 years. Miners wouldn’t be able to turn a profit even after the next halving at $5,000. 15 years will see 4 block reward halvings (including the one in 2020).
Most miners would have to turn off their machines & stop business in 2024 at a rate of $5,000 per bitcoin.
What a bunch of BS. Break even for an S9 mine right now is around $5000/BTC. There is more to mining than electricity! By 2024, it will be closer to $500k/BTC break even.
304.
Post 41306714 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.00h):
Every single word to this supposed Segwit issue is FUD. There is no attack, even at 51%, if you don't have valid signature data for every transaction, mining nodes will invalidate your block/chain and all you have succeeded in doing is creating a fork of bitcoin with you as the only miner and a shitcoin with a value of $0.
305.
Post 41995644 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.01h):
ETF coming on 10th August. Very good for the price short term.
I predict a huge pump incoming and a dump on 10 Aug regardless of the decision
306.
Post 42128069 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.01h):
I read some posts about IQ earlier and responses. At the end of the day, high IQ doesn't protect you from trolls. High IQ people understand the value of listening to every opinion. Occasionally these trolls are able to sway a person of high intelligence to part with a portion of their stack through social engineering and manipulation of the narrative on this forum and others. I know how hard it is, and my only advice is to leave the space all together and come back in a few years. Pursue other interests, get drunk, do something else, but for god's and for the betterment of mankind's sake, do not sell your precious few bitcoin to these manipulative, low intelligence, low moral character, low social character, lowlifes!!!! You will be rewarded for your intelligence and your fortitude but the time is not now, it is in 2020 or beyond...
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Post 42380038 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.01h):
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Post 42666230 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.02h):
Check out this asshole
How can someone with so many degrees be so bad at math? There can only be one coin for the whole world and it's used like cash? How, 10 terabyte blocks? Asshat!
309.
Post 42816905 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.02h):
$500 million long leveraged in one single exchange? That's simply mindblowing.
What could be his exit plan?
People with that kind of money to throw around don't get that rich or risk that kind of money without some sort of edge. I would say he has inside information. In fact, I would say a lot of people have the information and that's why we are going to continue vertical until the news breaks.
310.
Post 42819042 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.02h):
$500 million long leveraged in one single exchange? That's simply mindblowing.
What could be his exit plan?
People with that kind of money to throw around don't get that rich or risk that kind of money without some sort of edge. I would say he has inside information. In fact, I would say a lot of people have the information and that's why we are going to continue vertical until the news breaks.
That may be true, but notice how these types of bonkers positions never happen on legit exchanges like Coinbase Pro or Gemini. It's always on the fucking shady Chinese exchanges, where there is no transparency and nobody can really verify anything. The order books could be completed faked or trumped up.
I think it just further supports the idea that it's insider trading. You don't do that kind of thing on a regulated exchange unless you want to go to jail.
311.
Post 42828970 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.02h):
The poll is looking much more bullish this week - good to hear
BTC dominance is approaching 50% and the highest its been this year - you think it will hit 50% or will we see an alt surge?
The whole reason alts exploded goes back to the first LTC pump. People got it in their head that when bitcoin pumps, alts pump harder. But, just like any "known" trend, once it is known, it doesn't work anymore. Alts need to beat bitcoin on pumps consistently to make up for the risk of holding the shit. It isn't really happening on this pump and that may very well spell the end for 90% of the alts when all the dust settles.
312.
Post 43427742 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.03h):
313.
Post 44308015 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.05h):
I remember in btc-e's trollbox people were saying $40k next year when the price was $1000 in 2014. After 4 years we reached $20k.
Now people are saying $100k in 2020. That means we'll see $50k in 2023 or 2022.
Unless it doesn't
314.
Post 44382471 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.05h):
Sounds like nothing new. It appears to be the same ETN that KNC helped launch in 2015, just quoted in USD. I think it will have no effect.
315.
Post 46245827 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.08h):
Just another Bart formation coming, nothing to see here.
316.
Post 46284339 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.08h):
annnnnnd
the inevitable debart
...and rebart
317.
Post 47531973 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.11h):
^
PLeaseeeee no BULLRUN after a stationary "countdown clock"
NO, the BIG GREEN DILDO after that event could be
HUGE$50,000 per coin a short time after the next halving.
It will have to be a nice size crash to get it down that low
318.
Post 48026649 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.13h):
ya its true the government can dump unlimited fiat, but the US government isn't just going to implode the economy and create another Venezuela. The elites would never let this happen.
...or would they?
319.
Post 48048024 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.13h):
I think this is the whales fighting over BCASHBCHABCBCHSV. When they have the amount of disgusting fiat they need to prop up their respective forks, it will stop.
This is good for bitcoin. It redistributes coins from idiots and hopefully puts them in the hands of better stewards.
It will go as low as the whales are willing to part with their stash for and until they reach their target. CSW is a big baby and he has no problem destroying everything to be right in his twisted mind.
320.
Post 48049688 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.13h):
This is hurting badly already.
I’ve watched my bitcoin stash worth go from close to 1 million GBP to well, you can figure it out from that.
Of course it hurts.....badly.
I feel stupid for not selling at the ATH but we’ve all been through this before & we rocketed from $160 to $20,000.
It will happen again?
If it doesn’t RIP to me.
Then you had some more than me, but it's basically the same.... hundreds of thousands of euros of paper profit vanishing in front of my eyes.
In comparison to what has already vanished the remaining feels so small....
OTOH, I wasn't expecting to to sell in this decade. I will stick to my plan.
Hurts badly thou.
It hurts a lot. I must admit I am worrying if I’ve literally fucked my entire life up.
I always said I’d wait until about a year after the halving so that’s what I’m going to stick to.
Keep calm. In my opinion, don't worry about the past. The previous ATH is a fading memory. Your coin is only worth what it is worth right now. Get used to it. There is no option to sell right now and what if you did? Can you imagine selling now and sitting on the sidelines if it does go to 100k? To me, not having any BTC is a MUCH worse prospect than losing any amount of paper profits.
321.
Post 48055442 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.13h):
One question. What is must be bitcoin value to bring bitcoin miners any profit? Now I feel they are loosing right?
Someone posted a chart yesterday where
average mining cost was ~$3200, so I guess they're still profiting. Depends where you mine and buy your electricity of course.
That is the electricity only cost of producing a bitcoin if you are paying ~$0.05 per kWh and doesn't include the cost of air conditioning, facilities, employees, or return on capital. Electricity is probably only 50% of the true cost of running a profitable mining business.
322.
Post 48081554 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.14h):
Don't tell Bitcoin price
No way Google or Apple is around by 2100 let alone tablets
323.
Post 48105609 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.14h):
The fact is, the 1% will always be the same people. There is a reason they are the 1% after all. The 99% are always destined to make the same mistakes over and over again. Winning the lottery, lucking into bitcoin, or any other windfall will always be wasted by most of the 99% and given back to the 1% over time. The market structure is built specifically for this.
This absurd pricing right now is a perfect example of 99% giving their wealth to the 1%
324.
Post 48109232 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.14h):
This just goes to show how electricity is only one of many costs associated with mining. Don't believe the FUD about the electricity only cost of mining a bitcoin (~$3000). The real cost of mining is double that at least. The electricity in Douglas County Washington is less than $0.03 per kWh and they still couldn't stay in business. Every miner in the world is mining at a loss at these prices.
325.
Post 48194870 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.15h):
Come on whales! Dump like you have a pair! I need to buy some of those $3k BTC everyone is talking about
326.
Post 48195435 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.15h):
Come on whales! Dump like you have a pair! I need to buy some of those $3k BTC everyone is talking about
Looks like you got your wish bud
We're getting there, just need a lot more volume, come on pussies, ramp it up!
327.
Post 48198502 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.15h):
All of these new fake account are roach. Look how they always post near each other. Just ignore him/it please!
328.
Post 48225915 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.15h):
Just so you guys know:
Ledger Nano S Blackfriday offer for 50€ including VAT and DHL shipping.
https://www.ledger.com/I have bought another one.
Would like to know what the price is if you connect from USA, anyone?
US$49.99
329.
Post 48478740 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.18h):
ETH now manfully engaged in the fight to become a double digit shitcoin.
Will it pull it off?
With aplomb.
I don't understand all this hate for ETH... It supports this gigantic, flourishing ecosystem of projects -- yes, many of them are shit but some of them are pretty interesting and legitimate. I think things like Maker, Augur and 0x are at the very least entertaining experiments that push the bounds of what can be done with the blockchain. Decentraland is also interesting as well.
Then you have stuff like Cryptokitties which is pretty effing pointless. I dunno, I just think even if the price sinks to $50 a coin it will never go away completely as too many other projects are dependent on it.
I also don't know how they can shift the whole thing to PoS...
PoW is probably also the biggest downfall of BTC. The amount of energy that goes into mining is simply retarded.
What a retarded statement.
330.
Post 48504159 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.19h):
Orders slowly getting filled.
Where are those fomo'ers when BTC is going up? Now is the best time to buy.
I don't really get it. This is the perfect opportunity.
There is no FOMO on the way down or at the bottom...kind of by definition.
331.
Post 48506396 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.19h):
Requesting whales to please buy Worked in 2013.
Requesting whales to please buy
Requesting whales to please buy again. Whale call of 2018.
Whales are buying everything thrown at them but there's no point paying more than necessary if CSW, Ver, and Jihan are going to sell for cheaper. Nobody else is really selling at these prices except maybe day traders.
Miners are going bankrupt left and right, they aren't going to flush 4 years worth of BTC profits down the drain now to save their businesses.
The weak hands sold a long time ago and hodlers don't give a fuck.
Once the egomaniacs run out of ammo the price will steadily rise each day. Who knows how much ammo they have though or how much damage they are willing to do to crypto to satisfy their egos.
332.
Post 48506942 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.19h):
Im smelling some panic
I think there has been a fair share of depression too, we'll see...
333.
Post 48507186 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.19h):
[imghttps://i2.wp.com/fifthperson.com/wp-content/uploads/2016/01/Psychology-of-Market-Cycles.jpg[/img]
Im smelling some panic
I think there has been a fair share of
depression too, we'll see...
I believe that was denial in disguise.
Yup, it clearly was just denial.
I deny that it was denial
334.
Post 48507424 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.19h):
...and Bitcoin SV is pumping, it remembers me the game between BTC and BCH when big players were shorting and pumping money shaking the market.
Kind of silly to call it Bitcoin SV when it is a fork of BCash. It should more accurately be called BCash SV or at least BCHSV. Not sure what the idiots at Coinmarketcap are thinking. Another one of their questionable decisions.
335.
Post 48516919 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.19h):
Buy every BTC in sight and thank that mentally disturbed creature Craig Wright for making this discount happen
Notice how BTC started dumping like a rock without any bounce right after this tweet and the creation of Shitcoin SV
It's Craig Wright who's been selling all this BTC on the market and pumping his Shitcoin SV in a pathetic second attempt at flippening BTC after failing with Shitcoin Cash back in 2017
If you still don't believe that it's that mentally disturbed loser behind it, then check how correlated the two markets BTC/BTC SV are
BUY THE FUCKING DIP
I agree with you 100%. I am suprised more are not talking about it. I think he is not the only whale to be doing this as well.
The only part that bugs me is why would you say shit like that... hurt the price... then sell?
The only reason to do this is to get maximum effect. His goal is probably to overtake BTC in price, believe it or not. He can't do this alone so he needs to trick as many people as possible to come along for the ride. I bet he has a bunch of FUD lined up over the next year. More fake proof of being satoshi, more claimed flaws with BTC, more claims of Bitcoin not being the real Bitcoin, etc.
336.
Post 48525871 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.19h):
A thought experiment
........ It rallies to $5350
Then it drops , and smashes through all support to $1150
Then the unthinkable happens... and it drops again
to $530.....
Markets are haywire, trading platforms freezing up, going off line, metric sites are spewing out jibberish
On Finex it flashcrashes to $75
Coinbase flashcrashes to $50 and goes offline
The price rises to $750 and stabilises for 6 hours
It drops to $350 and becomes stable for a day...........
What are you guys doing at this point and up to this point? what is your next move? are you rekt? are you happy, are you trading hand over fist? are you drinking? are you jumping out of a window?(Bonus question- Bitcoin SV OR Bcash or Ripple or Doge or ETH or some other shitcoin is simultaneously going parabolic and either Craig or Rog or Vitalik are on youtube shit talking about how they are now number one, what are you doing? did you FOMO SV or Bcash, Doge or ETH or rando shitcoin? or no because rekt, rage quit, drunk etc)
(EDIT for arguments sake lets say that the coin that has gone parabolic has already hit $5000)Sorry I know its sordid and dark.... but I am curious to your answers
especially if they are amusing
I just hodl. I wouldn't buy anything else, regardless if it was number one. If BTC goes below 1000, crypto is done anyway, I would just forget about it and live my life.
337.
Post 48545566 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.19h):
Anyone have a chart comparing 2014 bear market difficulty to present day?
That's a hard chart to make meaningful. Different hardware availability, different hardware profitability, and different scales of mining companies. Too many variables really.
Anecdotally though, as a former miner from back then, I think this crash is a little bit deeper for miners (evidenced by the decreasing hash rate). I was mining back then and I was profitable until the second half of 2015 at which point I was mining at about break even for "electricity only" with $250 BTC. I was losing money on the facility costs and made no money for my time invested.
The operations now days are much larger with much larger fixed costs for facilities, loans and employees. $6000 was probably break even for them with the difficulty of a month ago. Now, difficulty is down ~20% and prices are down ~40%.
Every miner in the world is likely losing money now if they sell mining proceeds daily. Very few miners do that though. As a miner, you are a trader by default. Just like a farmer, you store your crops if you can and wait for the best time to sell. The longer these prices remain, the more miners will file for bankruptcy or sell their stash to cover basic necessities such as electricity and payroll.
With enough bankrupt miners, the difficulty should theoretically drop another 20% while prices stay ~$3500 to balance things out.
EDIT: The point though is that we are in the second half of 2015 if you are using mining difficulty/profitability as an indicator and comparing the last bear market to this one.
338.
Post 48546462 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.19h):
Anyone have a chart comparing 2014 bear market difficulty to present day?
That's a hard chart to make meaningful. Different hardware availability, different hardware profitability, and different scales of mining companies. Too many variables really.
Anecdotally though, as a former miner from back then, I think this crash is a little bit deeper for miners (evidenced by the decreasing hash rate). I was mining back then and I was profitable until the second half of 2015 at which point I was mining at about break even for "electricity only" with $250 BTC. I was losing money on the facility costs and made no money for my time invested.
The operations now days are much larger with much larger fixed costs for facilities, loans and employees. $6000 was probably break even for them with the difficulty of a month ago. Now, difficulty is down ~20% and prices are down ~40%.
Every miner in the world is likely losing money now if they sell mining proceeds daily. Very few miners do that though. As a miner, you are a trader by default. Just like a farmer, you store your crops if you can and wait for the best time to sell. The longer these prices remain, the more miners will file for bankruptcy or sell their stash to cover basic necessities such as electricity and payroll.
With enough bankrupt miners, the difficulty should theoretically drop another 20% while prices stay ~$3500 to balance things out.
EDIT: The point though is that we are in the second half of 2015 if you are using mining difficulty/profitability as an indicator and comparing the last bear market to this one.
now the miners are shorting too.
https://news.bitcoin.com/chinese-miners-short-btc-markets-to-hedge-against-falling-prices/Last time i checked
even my parents were shorting BTC...
Shorts are big since the drop from 6k.
Edit.
There might be an inverted H&S forming on 1D.
Crossing fingers.
You know what do do when everybody and their dog is doing something? Do the opposite. I think we are very close to the next bull run. If granny is shorting bitcoin, it's time to buy.
339.
Post 48558460 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.19h):
Bitcoin needs to get above 10k fast. Irobot has a new model that empties its own bin, and I'm thinking "Man that can make me even MORE of a degenerate pig".....
Oh hell yeah, I could do with one of those myself. Hurry the fuck up
BTC , some of us have needs!
As if any of you Hodlers will sell any when we see $10K. Hodlers don't know how to sell.
Today's idiot is tomorrow's genius
340.
Post 48711151 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.21h):
Nouriel's been nourishing his love-in with crypto lately.
The thing he doesn't seem to understand though is the only profits are BTC profits. Taking profits would mean cashing out fiat or shitcoins to buy BTC. The BTC price is always 1:1. All that's happened this year is fiat has spiked in value which is a precursor to the next global meltdown.
If you're taking fiat profits, you are doing it backwards. Exchanging hard money for magical government money is not going to end well.
341.
Post 48751159 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.21h):
Former IMF Economist Finally Closes Year-Old Bitcoin Short
https://www.ccn.com/the-big-short-former-imf-economist-finally-closes-year-old-bitcoin-short/https://twitter.com/mark_dow/status/1075034409495982081"I’m done. I don’t want to try to ride this thing to zero. I don’t want to try to squeeze more out of the lemon. I don’t want to think about it. It seemed like the right time."
342.
Post 48751467 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.21h):
We didn’t break it until October 2015 (equivalent of October 2019) last time around. Breaking it marked the very start of the bull market.
I'm having a hard time believing the next bull run is going to follow the 2015-2017 cycle. The shorters and panic sellers did a good job of painting the charts to match the last draw down (human nature to find repeating patterns) but I don't think they're going to have as much control over the next rise. The dynamics are different now. When people see the price rise, they're going to think it's 2017 again, not 2015.
If the shorters think this will be the same as 2015, there's a good chance they give their BTC profits back and further fuel the price on the way up.
343.
Post 48751840 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.21h):
We didn’t break it until October 2015 (equivalent of October 2019) last time around. Breaking it marked the very start of the bull market.
I'm having a hard time believing the next bull run is going to follow the 2015-2017 cycle. The shorters and panic sellers did a good job of painting the charts to match the last draw down (human nature to find repeating patterns) but I don't think they're going to have as much control over the next rise. The dynamics are different now. When people see the price rise, they're going to think it's 2017 again, not 2015.
I also think the next bull run is going to be different, but in the opposite way. Too many old schoolers have been blind enough not to cash out at or near the last ATH. I think those guys will sell a pretty chunk between 10k and 20k, so a tentative parabolic rise could well stop short of breaking through the roof.
Really anything is possible but $100k is my target to sell a little bit and I have held that view since 2013. I think there are a lot more like me out there. $15k-$20k will free up some coins for sure but not as many as you might think.
344.
Post 48753218 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.21h):
The year is not yet over and Gox likely wants to sell the rest before Jan 1.
I will hold out all hope until 2019.
I will also pull my keys from the exchange.
I put my "boat money" on the exchange to cash out at a certain price but it never hit the target. It's still on the exchange waiting.
Will begin the process of taking them off before the 3rd because of how exchanges change things.
FUD. Even if they did, they will be absorbed. The support is following the price. Dummies keep moving their buy orders up hoping to catch a dip. No bounces on the way down might mean no dips on the way up. I would love that unlikely scenario very much.
345.
Post 48885043 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.22h):
1. Alts have no value of their own
2. The price of alts is a function of how much greed / fear is in the market.
3. Fear / greed is determined by Bitcoin price performance.
4. Alts are denominated in BTC.
5. When people are greedy they buy alts using BTC.
6. When people are fearful they sell alts using BTC.
ok, i understand most, but this would be true if actually people buy and sell.
When btc gets a dump, and the same microsecond the alts get a dump as well, it cannot be people being greedy/fearful, right? it must be a coupling in some form to the mastercoin, btc?
im not saying anything about the intrinsical value of an alt itself, nor if its a good or a bad alt, but just these fluctuations intrigue me and i dont really understand...
It's arbitrage bots.
When BTC dumps, there is an instant discrepancy in the alt trading pairs like BTC/ETH and then USD/ETH and in turn ETH/XRP etc, etc. The bots can scalp a nice profit by balancing out the ratios but there is not as much liquidity in the alt market so the moves are larger either up or down.
346.
Post 48921216 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.23h):
Old news. The obvious conclusion is:
- Order your hardware wallets directly from the manufacturer.
- Try to avoid third parties from having unlimited physical access to your hardware wallets. <- This risk is only theoretical though... but a good security practice in any case.
...or don't use a hardware wallet in the first place and learn how to sign offline transactions without it. I'll never trust some device with my private keys, sorry. Might as well leave them on Coinbase if that was the case. At least I would have a legal claim if they lost them.
347.
Post 49006599 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.24h):
I think I haven't read anyone posting about the XMAS/NEW YEAR conversations about Bitcoin on the table.... Maybe the nocoiners were so disgusting you guys don't wanna talk about it? lol
In my case... no conversation about it. The only one at the table that knows I am into Bitcoin was my GF and she is a hodler since 2013 and has instructions to never talk about it with anyone else.
I tell them that if they dont own at least one Bitcoin then they may feel suicidal when it hits one million dollars bc they didnt make a small investment.
I also tell people to just get one. I think it is a good balance between having them invest too little and feeling guilty if they invest too much. I only tell this to people who can afford one easily but I just say, buy one and forget about it for 10 years. 3500 today and a million in 10 years. It really is a no-brainer for those that waste that much each month on stupid shit anyway...
348.
Post 49041199 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.24h):
Also, the one thing that really bothers me about Trilema is that it's clearly some deranged guy trying to engineer a cult of personality and have people worship him, much like how our favorite arsonist lunatic rpietila attempted to do the same thing before he went from moderately insane to completely insane. I'm not down for such primitive, Freudian, prison-homosexual style in nature, exert my will on others to prove I am powerful, games.
A deranged guy "really bothers" you?? Oh reallyyyyyyy??? Is he a Virgin who hasnt smiled or laughed in 6 years??? Does he live a completely unfulfilling life and blame Jews and blacks for not achieving anything in life except a "dumbest money" on this thread prize?? Does he frighten little children when he is in public once a month??? Does he sleep in your room and eat your mummy's estrogen cookies
Does he cry each day as Bitcoin heads to 100k?? Tell us more
Look slayer, we used to ignore anyone who quoted the roach but we have given you a pass because we hope you have a way of getting rid of him like RAID or something but percentage wise, it is becoming a large portion of the pages on the thread. I really like your other posts so I don't want to block you but I am getting tired of seeing the cesspool of roach posts in your posts so I am at a crossroads. What do you think?
349.
Post 49236237 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.26h):
https://www.telegraph.co.uk/technology/2019/01/14/russia-plans-tackle-us-sanctions-bitcoin-investment-says-kremlin/Russia is preparing an investment in Bitcoin to replace the US dollar as a reserve currency in a bid to tackle US sanctions, according to a Russian economist with close ties to the Kremlin.
Cryptocurrencies have seen a surge of interest in Russia, with President Vladimir Putin expressing interest in the digital assets in recent months. Mr Ginko believes Bitcoin and the wider cryptocurrency industry now account for 8pc of Russia’s GDP, and investment to bolster the country’s reserves with Bitcoin could start as soon as February.
“[The] Russian government is about to make a step to start diversifying financial reserves into Bitcoin since Russia [is] forced by US sanctions to dump US Treasury bonds and [take] back US dollars,” Mr Ginko said.
“These sanctions and the will to adopt modern financial technologies lead Russia to the way of investing its reserves into Bitcoin.”
Scary if true. I've thought about this quite a bit since reading "The Bitcoin Standard".
The countries who are first to adopt Bitcoin as their reserve currency or at least partially back their currencies with BTC are likely to be the most wealthy countries in 10-20 years. It could really shift the balance of power without a shot being fired.
350.
Post 50492680 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.40h):
... insults is all he's got.
I disagree with him on many (most) points but this...just ain't so.
For sure he's a smart guy and makes some good points.
"Smart" isn't in short supply. I grew up in a smart city, was surrounded by smart people, went to a smart university, got a smart degree. I'm just not impressed with "smart." Some people can be extremely intelligent by some measures and especially dumb in others. So what is "smart"?
In my experience, honesty and integrity are far more scarce and far more valuable attributes. I've watched "smart" people destroy the world around them, and themselves, during the course of my lifetime. I'm just not impressed by "smart."
"A hard cap on on-chain txs is a hard cap on on-chain txs, any way you try to spin it." <- then it doesn't matter what size you raise the blocks? how could you advocate larger/bigger blocks when you do not believe in it as a solution to deal with transaction congestion.
WTF are you babbling about? I advocate larger blocks, as I
do believe in it as a solution to deal with transaction congestion. Quite a splendid one, in fact.
Let's just babble about L1 as the only solution....
Any idea around how big should the blocksize be to support all VISA/Credit card tx's? How much would its blockchain grow for each year?
Now... Should crypto REALLY succeed (also) as a peer to peer cash system... How big should it be to even support 10% of current *CASH* payments/transactions worldwide?
...
There's no way crypto can *scale* MASSIVELY just on L1 alone.
P.S.: I do also advocate for "larger" blocks.... just not as large as you do. Just enough to support higher layers efficiently and maybe with some spare... and that whatever is implemented, it would be done with CONSENSUS to not harm the store of value proposition as a side effect.
Nothing has to scale. One Bitcoin is going to be worth more than most people make in a lifetime. It will be transacted between governments, multinational companies and banks. Even the lighting network will be for the big boys. Nobody pays for coffee with gold. Visa works just fine for buying coffee, PayPal works great for other things. Move on to your shitcoin of choice for payments. Bitcoin will be fine without you.
351.
Post 50618252 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.41h):
Looks like CSW is pissed and dumping everything in a fit of rage
352.
Post 50713721 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.42h):
I don't know about party affiliations but it seems to me that every citizen of a country should be given the exact same benefit of any social program. Managing any kind of rules requires an administrative burden. For each edge case or unique circumstance, there are 1000 administrative types in an office somewhere processing paperwork/requests/waivers. Make it universal or don't do it.
If we are giving welfare to one person, then we give it to every registered citizen. If that means everyone gets 500 a month, indexed for inflation, then that's what it means. Most of that monthly benefit would get pumped back into the economy and since fiat value is not based on anything really, the cost of the system could be calculated into the inflation of the USD and paid for by the FED rather than the US Government. The fed is going to stimulate the economy anyway, why not do it at the citizen level rather than the bank level? Call it the base cost of a having a population of citizens. Like oil revenues for Alaska residents. I mean, the country technically belongs to its citizens anyway, right?
A billionaire won't give a shit about that 500 a month and any soul who wants a better life for themselves is not going to settle for that either. The mentally ill will find someone to help them for that 500 and the people who refuse to work will have enough to deter them from committing petty crime for food (I mean they are too lazy to work and stealing takes work). People who are here illegally will not get it, so every citizen will have an immediate advantage over illegals.
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Post 51017200 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.45h):
$3 million Bitfinex wall chewed up and spat out. Any rational reason why Bitfinex led the charge and now is lagging behind?
I think this is an organic rally driven by small buyers. And they aren’t the sort of people who would wire their funds to Bitfinex to buy. Bitfinex is a whale playground.
Isn't Bitfinex still closed to U.S. residents? If this is driven by money from the U.S., it would make sense that Bitfinex was lagging.
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Post 51259044 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.48h):
Just saw this terrible quotes commercial on TV that mentioned cryptocurrencies.
https://youtu.be/aAlC0fwWM8Y
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Post 51647885 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.53h):
Is bitcoin dead?
It will be if CZ doesn't learn wtf it is.
.@binance will actively block any stolen funds coming our way. The key is fast reporting (victim) and real-time blocking (exchanges). To this end, we developed an anti-fraud system just for this. Will make it available to all real soon, free of charge. #SAFU
No blacklists, thanks all the same, CZ.
RIP Binance, it was good while it lasted.
356.
Post 51848719 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.56h):
The 2015 fractal that everyone loves to hate says we are on track.
The next 3 months are an excellent time to dollar cost average in. This should be our final round of consolidation at the “bottom” before we start the long slow climb over the next two years.
<img snip>
For the second time in one day...wishful thinking.
The old fractal is dead...long live the NEW fractal.
"You cannot step into the same river twice."
Heraclitus
What does the 2017 vs 2019 one look like now?
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Post 51848766 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_16.56h):
What does the 2017 vs 2019 one look like now?
Irrelevant.
It's normally a four year cycle, so we aren't in 2017, but we might be rhyming with 2015...
Not really, these idiot traders like to paint the chart for fun. It's not organic, it's manipulated up and down.
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Post 52609367 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.03h):
Asians don’t give a fuck about the environment, all they care about is money.
Solar is now cheaper than coal and getting ever cheaper fast (hint: the fuel is free).
China gets a fuck ton of sunlight - it’s just blocked by the Asian Brown Cloud which is a result of burning coal. Once they start to transition properly, they will get a positive feedback loop.
More solar panels = less coal = less pollution = more solar radiation = more cost effective solar panels = more solar panels ....
As an added bonus the US could stop sending its troops to die for Saudi Arabia once we break away from oil dependency.
Wow, pretty offensive and obtuse and coming from a liberal no less. Chinese does not equal Asian. Take a trip to Japan or at least do some research before spewing this garbage.
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Post 52707900 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.04h):
So, basically, 95% of the Bitcoin market is fake volume and/or unregulated and therefore it is not possible to monitor the market for manipulation. Also, that 95% can't be separated from the real 5% in a reliable way that prevents the fake/unregulated/manipulated exchanges from affecting the price of the real exchanges and therefore, the ETF is denied.
Based on that, i don't see how it will ever be approved.
360.
Post 52714823 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.04h):
They don't understand the difference between a fork and an airdrop so of course they screwed it up by combining them.
In either case, they treat forks like airdrops and they are clear that if it's technically possible to exercise control over the fork coins, then they are taxable on the date of creation at the market price regardless of whether you access them or not. The selling of the coins is a separate taxable event.
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Post 52714836 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.04h):
No you're right. But you don't have to worry about it. It's rather a good news in fact, I hope it will be enforced heavily.
The idea is that you can be taxed ONLY if you sell the result of the fork. If there is a fork and you don't do anything with the coins then nothing is taxable.
How is it a good news? Well it decreases the incentive of a fork. Because tons of people won't get the new coins, knowing they will be taxed.
Hence less shitcoins and less forks.
That isn't what it says at all.
362.
Post 52715763 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.04h):
If your BTC are in a personal wallet, and a hard fork/airdrop occurs.. If you are unaware of it, and never download the new wallet... It will prolly come down to how understanding the IRS auditor is.. either you owe it, cuz you *could* get control if you downloaded the new wallet, or you don't owe, cuz you obviously wouldn't download a wallet for something you were completely unaware of...
I think this makes sense. What if there was some Bitcoin Gold, Bitcoin Green, Bitcoin Purple, Bitcoin Silver, Bitcoin Platinum, Bitcoin Diamond, Bitcoin Whatever ...
And you never downloaded the wallet, so the fork coins actually never moved ... when they do decide to tax you, the value of the coins at today's rates should apply, otherwise you can just say, I'll pay you in the forked coins ... What is your Bitcoin Whatever address, I'll send the tax owed on it.
That would make more sense.
But then, I don't know if the IRS will interpret it that way.
They can't tax you what it was worth yesterday, when you are paying them today. As any gains or losses were unrealized.
Sure they can and they will. It doesn't matter if you sell them. When you sell them, that's a separate taxable event which would probably be a loss if the value dropped since the coin was created.
If you had access to those coins and were aware of those coins, that is 100% taxable based on the value when they were created or when you had access to them, whether you accessed them or not.
In an audit, it would be hard to argue you didn't know about it or didn't have access to the coins, if they can show you as a prominent member of the bitcoin community and you had the expertise to access the coins.
Selling them today or paying the IRS has nothing to do with the gain realized when the coins were created. If you do sell them at a later date, that is another taxable event.
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Post 52715945 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.04h):
No you're right. But you don't have to worry about it. It's rather a good news in fact, I hope it will be enforced heavily.
The idea is that you can be taxed ONLY if you sell the result of the fork. If there is a fork and you don't do anything with the coins then nothing is taxable.
How is it a good news? Well it decreases the incentive of a fork. Because tons of people won't get the new coins, knowing they will be taxed.
Hence less shitcoins and less forks.
That's incorrect. If you receive airdropped/forked coins, you're responsible for reporting that as income. Period.
The only loophole is that you're not responsible if you can't actually claim the coins, or have no control over them. An example of that would be if your exchange doesn't distribute the forked coins to you.
If that is true. Every Whale will dump (in the USA) rather than take a chance for another hostile fork of bitcoin and owing $50k to such or something because he did not dump.
I mean that means NO one could afford to HODL BTC in your own wallet due to malicious actors. Indeed north korea or Iran could 'fork' your coin for just that purpose. chaos.
It is true. This only applies to people subject to US taxation (citizens and residents) and it doesn't matter where they dump the coins.
Yes, you owe the tax whether you sell or not. It is the same for U.S. stocks when a company goes public, original employees of the company are often given stock in the public company and they owe tax on the value of the stock on the day the company goes public whether they sell or not. This normally means they have to sell some of the stock to pay the taxes due.
The good news is that losses offset gains so if a coin is worth $100 the day it was created but you sell at $1, you can claim a loss of $99 per coin when you sell as long as you claimed the gain when the coin was created as well.
Next time you vote, vote for someone who understands bitcoin or at least someone who wants to reform the IRS.
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Post 52716302 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.04h):
It is true. This only applies to people subject to US taxation (citizens and residents) and it doesn't matter where they dump the coins.
Yes, you owe the tax whether you sell or not. It is the same for U.S. stocks when a company goes public, original employees of the company are often given stock in the public company and they owe tax on the value of the stock on the day the company goes public whether they sell or not. This normally means they have to sell some of the stock to pay the taxes due.
What if a fork isn't on an exchange on the day it's created? Does that mean it is treated as zero value? Most Bitcoin forks struggle to get on an exchange within weeks of their creation. Some never even get on an exchange.
This is from their FAQ:
"When you receive cryptocurrency from an airdrop following a hard fork, you will have ordinary income equal to
the fair market value of the new cryptocurrency when it is received, which is when the transaction is recorded on the distributed ledger, provided you have dominion and control over the cryptocurrency so that you can transfer, sell, exchange, or otherwise dispose of the cryptocurrency."
https://www.irs.gov/individuals/international-taxpayers/frequently-asked-questions-on-virtual-currency-transactionsI guess you would have to have a good justification for showing what the fair market value was even if it wasn't on an exchange such as any trading activity you could find on this board or elsewhere.
365.
Post 52716475 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.04h):
It is true. This only applies to people subject to US taxation (citizens and residents) and it doesn't matter where they dump the coins.
Yes, you owe the tax whether you sell or not. It is the same for U.S. stocks when a company goes public, original employees of the company are often given stock in the public company and they owe tax on the value of the stock on the day the company goes public whether they sell or not. This normally means they have to sell some of the stock to pay the taxes due.
What if a fork isn't on an exchange on the day it's created? Does that mean it is treated as zero value? Most Bitcoin forks struggle to get on an exchange within weeks of their creation. Some never even get on an exchange.
This is from their FAQ:
"When you receive cryptocurrency from an airdrop following a hard fork, you will have ordinary income equal to
the fair market value of the new cryptocurrency when it is received, which is when the transaction is recorded on the distributed ledger, provided you have dominion and control over the cryptocurrency so that you can transfer, sell, exchange, or otherwise dispose of the cryptocurrency."
https://www.irs.gov/individuals/international-taxpayers/frequently-asked-questions-on-virtual-currency-transactionsI guess you would have to have a good justification for showing what the fair market value was even if it wasn't on an exchange such as any trading activity you could find on this board or elsewhere.
Again, I'm not a tax lawyer.. but in relation to coins on an exchange, I take "when it is received" to mean that you gain control at the time the coins are credited to your account on the exchange, and you should pay income for fair market value at that time.... At least to me that would be a good faith effort that would prolly be kosher with the IRS. The "provided you have dominion yada yada yada" part kind or precludes getting taxed at the moment of creation if the exchange drags its feet by a couple weeks.. as you specifically DO NOT have dominion over the new coins till the exchange posts them to your account.
You're right. They specifically address if the fork coins are on an exchange, then it is taxable when the exchange distributes them. The problem is only if you hold the keys to the forked coins.
366.
Post 52716699 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.04h):
"When you receive cryptocurrency from an airdrop following a hard fork, you will have ordinary income equal to the fair market value of the new cryptocurrency when it is received, which is when the transaction is recorded on the distributed ledger, provided you have dominion and control over the cryptocurrency so that you can transfer, sell, exchange, or otherwise dispose of the cryptocurrency."
So, the value would be zero, if it's not listed on any exchange at the time of a fork, and it's not even listed on sites like coinmarketcap. No value = zero.
I mean, maybe 10,000 of that fork can buy a pizza, but if no merchant accepts it as payment, on the day of the fork, then it's not even worth a pizza.
I think it would be harder to prove the value was zero than to prove it was something greater than zero. It can't default to zero. Zero is a number that must be supported as well. There is always someone doing OTC trades or an exchange somewhere doing futures.
If it turns out the coin can't be sold or transferred when you get around to it, or if you transfer to someone else for a few pennies, that could be a loss to offset the gain as long as you can justify the value. If you give them to someone though, that could be considered a gift and you couldn't claim a loss.
367.
Post 52718237 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.04h):
Trezor (security by open-source) or Ledger (security by obscurity)?
which do you prefer?
I don't trust anything connected to the internet. The next generation of hardware wallets use QR codes instead like the Ellipal Titan.
368.
Post 52718398 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.04h):
That Ellipal Titan looks interesting. Yeah, I figure the next bunch of hardware wallets would just use scanners and stuff. Those can't be easily hacked unless they were altered before you got it to misread QR codes.
Even if there is something wrong with it, or it was intercepted before you received it, it seems like you would be able to verify what the QR code says before you broadcast the transaction so it shouldn't be an issue. Similar to an Electrum air-gapped setup, you always verify what you signed before broadcasting the transaction.
I also wouldn't trust any hardware wallet to generate my Mnemonic in case it was tampered with or the manufacturer is doing something sketchy.
I don't know if I'd want to be one of the first to buy one from a new company but maybe Trezor and Ledger will take the hint and do something similar.
369.
Post 52804713 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.05h):
I sure hope Satoshi didn't blow it with the curve he chose.
Fees are going to have to, umm, increase, to incentivize miners.
No need to incetivize miners. It's a self-regulating system. If they can't make enough money, they will drop out which makes the remaining miners more profitable.
Also, fees may increase as well and small transactions will be squeezed out. This is ok. There is no reason to use the worlds most secure transaction network to buy a cup of coffee.
370.
Post 52804777 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.05h):
I sure hope Satoshi didn't blow it with the curve he chose.
Fees are going to have to, umm, increase, to incentivize miners.
No need to incetivize miners. It's a self-regulating system. If they can't make enough money, they will drop out which makes the remaining miners more profitable.
Also, fees may increase as well and small transactions will be squeezed out. This is ok. There is no reason to use the worlds most secure transaction network to buy a cup of coffee.
It remains to be seen that this would work long term, although so far the adjustment of hashing to price fluctuation was impressive.
I worry a bit about mining concentration in the hands of the vertically integrated entities, like the recent P. Thiel venture.
It might cause further centralization and such centralization might cause undue re-consideration of bitcoin's rules (in time).
If bitcoin is still mined worldwide by then, I doubt any changes to the rules would be possible. It would require consensus and the world I know can't get consensus on any topic. Therefore, the only way to change the rules is to fork off. That could happen many more times and the value will follow if there is a market for it.
I think big daddy Bitcoin will be just fine though.
371.
Post 53180320 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.08h):
The worldwide average "Electricity Only" cost of mining is likely around $7500/BTC. Maybe some miners are shutting down temporarily? Probably just variance though.
372.
Post 53906995 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.16h):
Man loses $60M in Bitcoin when landlord cleaned the house and sent everything to the dump by mistakeClifton Collins, a former security guard and a beekeeper turned weed grower/dealer, lost $60 million when his landlord cleaned out the house he’d been renting and sent everything to the dump — including Collin’s fishing rod case that hid his Bitcoin codes. Without the codes, the accounts can’t be accessed.
He had both
BTCitcoin and Drugs. All wasted now
Lesson learned: Own a f**king room atleast when you have shit load of money and keep your codes safely.
I bet he has another backup somewhere. Better wait until bitcoin transactions have better privacy before moving them though.
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Post 53923442 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.16h):
seems Wall Street is in complete panic mode now.
The dream scenario would be 1% of the money being taken out of equities finding it's way to bitcoin. Bonds are at record levels. Gold is a joke to most investors, commodities are falling, most will just hold cash but what if bitcoin starts rising at the same time the stock market crashes? That reverse correlation could make for an epic spike.
I think we saw a decline in the last few days because traders are trying to make it look like bitcoin is correlated to the stock market. I hope they run out of ammo while the stock market keeps declining. Wishful thinking perhaps.
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Post 53946574 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.17h):
100k=minimum. 400k=aspiration.
Aspiration is Bitcoin becoming the one and only world currency. This will create a truly free market that will push humanity into the future without corrupt governments being able to push the people down into the ground with overblown taxes and fake inflations. It is about time for people to take the power back from dictators and incompetent rulers of their countries.
And Blockchain will make everything nice and transparent. Proof>Trust.
Yes agree that we will eventually become the Global Reserve Currency. Im referring to the top of the next bubble as 100k-400k. We will have more Bull and Bear markets before we become the reserve currency.
One big thing will need to change before it becomes the global reserve currency though. It will have to be declared a currency by most of the world. There is no way it grows to that level as a taxable commodity.
Edit: Other currencies could be backed by bitcoin though.
375.
Post 53954905 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.17h):
Never seen so much panic about most likely nothing too horrific
Now extrapolate to the entire world being infected. Cause that's the most likely scenario. Show us the numbers.
I would say the Korean numbers are probably the most accurate in the world because they are testing everyone. The US charges for everything so most sick people are not going to go to the hospital for a slight sickness. China and Iran are outright lying.
Based on the Korean numbers, the death rate is 0.5% but likely higher because of the lag between getting sick and dying, but let's say it's 0.5%. If the whole world gets it, that's 35 million people dead. Granted, a lot of these people would have died from the flu or some other disease anyway but still, that is a lot of people.
Interestingly though, if the Korean numbers are correct, there should be over 600,000 infected in China based on 3000 deaths, rather than the 80,000 they are reporting.
376.
Post 53955018 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.17h):
Never seen so much panic about most likely nothing too horrific
Now extrapolate to the entire world being infected. Cause that's the most likely scenario. Show us the numbers.
I would say the Korean numbers are probably the most accurate in the world because they are testing everyone. The US charges for everything so most sick people are not going to go to the hospital for a slight sickness. China and Iran are outright lying.
Based on the Korean numbers, the death rate is 0.5% but likely higher because of the lag between getting sick and dying, but let's say it's 0.5%. If the whole world gets it, that's 35 million people dead. Granted, a lot of these people would have died from the flu or some other disease anyway but still, that is a lot of people.
Interestingly though, if the Korean numbers are correct, there should be over 600,000 infected in China based on 3000 deaths, rather than the 80,000 they are reporting.
Gentle reminder that the death rate continues to be calculated wrong. It's dead/(dead+cured). Which is closer to 10%, especially as the world gets overwhelmed. Supposedly all of England only has 15 beds for serious cases.
And yeah china is lying. Not only are they commies and thus prone to lying in the first place, but they also have glass hearts. They can't tolerate looking bad. Just assume it's at least ten times as bad as what they are saying.
Yeah, the normally quoted death rate is likely only considering people who were admitted to the hospital. We were talking about if everyone in the world caught it, where 90% of people won't even seek medical care.
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Post 53956404 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.17h):
*FED CUTS BENCHMARK RATE 50 BPS, SAYS VIRUS POSES EVOLVING RISKS
wow!
Must be what the rally was about yesterday. Some peeps got wind of the cut early.
378.
Post 53963987 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.17h):
no fucking way creepy uncle Joe beats Trump
this whole election thing just became decidedly less entertaining
of course, Joe has a pretty high probability of blowing his own foot off in time for a Sanders nomination
Sanders v Trump is the TV show we all deserve
Trump vs Sanders would be the largest landslide victory in the history of presidential elections. No one over 40 is voting for a communist in America. No way he gets even 30% of the vote on a national level. Sanders might have done ok if he didn't refer to himself as a socialist. People still remember the USSR (Union of Soviet
Socialist Republics). In America, socialist means communism.
379.
Post 53966437 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.17h):
Ok - according to your link the test is free. But it costs $3200 to visit a doctor to get the free test. Am I reading that correctly?
The test (as of now) is free. I am pretty sure $3200 is not representative of what a US citizen typically pays for a doctor visit.
One anecdotal instance of how much someone spent on emergency care really should not be misrepresented as 'the cost of a Coronavirus test [in the US]', especially since it may discourage those who think they may need to be tested from doing so.
The first thing you have to know about the US is that a large portion of the population has no health insurance, does not go to the doctor, and has probably only seen a doctor a few times in their lifetime.
They don't have a doctor, don't really know where to find one on short notice, and aren't going to wait for an appointment if there is something so extreme as to get them to see a doctor. They only use emergency rooms for care, and some never intend to pay. Hospitals know this, which is why they charge $3000 for a visit to the emergency room (this is a real number btw from personal experience taking an ex girlfriend). Their collection department is hoping to get a 10% return on the amount they bill through collection agencies.
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Post 53968996 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.17h):
If you're not on the verge of death, there's no need to go to a hospital.
Fix a broken bone or whatever...
Most of the time going to the hospital is worse for you than staying home and taking care of yourself.
wait till youre a boomer with a 15 page med list, 14 specialist MDs, a list of conditions and operations, some so cutting edge that they have been published.
without regular labs and MD visits.. well thats life support for some of us.
@Ibian, youre welcome. well no, thats a lie.
No way I would burden myself, my insurance company, and by proxy, every other person's premiums, or society in general if I had those kind of problems. I'll just have to let life (or death) run it's course when I get that far gone. You know, take it like a man, instead of living on life support.
381.
Post 53973022 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.17h):
Enough with the generation wars. They are not even a real thing, they were created by marketing firms to generalize groups of people.
The children born after WWII were numerous, which allowed for a lot of productivity gains around the world. They built the nuts and bolts of the world we live in.
Their children expanded on the nuts and bolts and made them more useful in day to day life.
Their grandchildren use the devices and technology that their parents and grandparents created and we've yet to see what their impact will be.
382.
Post 53973979 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.17h):
Hate to break it to you but Jeff (Big Lebowski) Bridges was born in 1949, totally Boomer.
Perhaps you should replace him with a picture of Kim Kardashian, born in 1980, totally Generation X.
I don't know if this is the exact definition but I consider Gen X to be people born to parents before the boomers. If someone is the child of a boomer, they are technically a Millenial.
Generation X (or Gen X for short) is the demographic cohort following the baby boomers and preceding the Millennials. Researchers and popular media typically use birth years around 1965 to 1980 to define Generation Xers, although some sources use birth years beginning as early as 1960 and ending somewhere from 1977 to 1984.
https://en.wikipedia.org/wiki/Generation_XReading that quote, how do you get that a child of a baby boomer is a millennial? It specifically says gen x is the generation between baby boomers and millennials.
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Post 53974320 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.17h):
That is mind-bogglingly stupefying.
Why? He could have given everyone a dollar. How is that mind-bogglingly stupefying or are you saying the person who posted that on twitter is mind-bogglingly stupefying?
384.
Post 53985601 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.17h):
I'm not a specialist in discussing US politics, but someone from the US please correct me if I'm getting it wrong:
Will the spreading of the coronavirus in the US benefit Sanders against Biden? Sanders is (arguably) the politician from whom I've heard about healthcare improvement the most; IMO, the failure of the healthcare system in the USA at this point will give the old man some extra advantage in his campaign.
I don't think so. Americans are funny that way. We generally don't want the government telling us we have to do anything and we don't want them involved in our personal business. The younger people may have a different view on this but their numbers are just too small to matter in a national election.
When you see statistics and polls showing differently, you have to understand, most hard working American's aren't going to speak to some asshole calling you after dinner to answer stupid survey questions. This is how Trump won in surprise fashion. The pissed off people will show up and vote but aren't going to speak to polsters about it.
Government controlled healthcare is not a reasonable solution. You would lose all the innovation America creates and the whole world benefits from. They could regulate insurance companies and healthcare providers though to eliminate some of the most heinous activities (such as drug and ER pricing) but taking over would set the world back decades in my opinion.
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Post 53986845 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.17h):
The government should not be responsible for anything of substance. A government is a costly, slow, and bureaucratic way to organize anything. It has it's place only in regulating, auditing and prosecuting.
Everything else should be handled by the free market. A free market is not what we have, and we can't have a free-market as long as the economy runs on monopoly money.
A truly competitive free market would work itself out as long as the government sets clear boundaries and is there to prosecute cartels, monopolies, collusion, price setting, and other anti-competitive practices.
Of course this can't happen either as long a bribery is legal in the form of lobbyists. Any candidate taking anything, even a free meal, should be prosecuted. The US government already has conflict of interest rules that conveniently don't extend to politicians.
386.
Post 53986895 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.17h):
The government should not be responsible for anything of substance.
A truly competitive free market would work itself out as long as the government sets clear boundaries and is there to prosecute cartels, monopolies, collusion, price setting, and other anti-competitive practices.
Uh
Substance meaning actual productivity. Like treating patients, managing companies, making economic/business decisions.
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Post 53986994 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.17h):
prosecute cartels, monopolies, collusion, price setting, and other anti-competitive practices.
making economic/business decisions.
Uh
You're an idiot
388.
Post 54012611 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.18h):
You can keep coiling the spring but eventually it will let loose. Stock to flow implied value is currently $10k and will be $100k in less than two months! Crazy to be selling now, everyone thinks they can pile back in but there will be no time.
389.
Post 54012840 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.18h):
You can keep coiling the spring but eventually it will let loose. Stock to flow implied value is currently $10k and will be $100k in less than two months! Crazy to be selling now, everyone thinks they can pile back in but there will be no time.
I am sure nobody here is considering selling from these low ass prices.
It is all about buying from which price point and how much.
Of course hodlers are fine either way. I set my personal price at $100k+ years ago.
I guess this selloff is good, it lets us shed more weak hands before the halving.
390.
Post 54018527 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.19h):
This is really shitty. There should be some consolation prize at least, like if most of the alts died right here and for good.
391.
Post 54040065 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.20h):
All technical analysis is out the window in a "black swan" event like this. The bears were and still are wrong. They just got lucky there was a global event that helped them out.
Bitcoin crashed because the wall street types dumped it to cover margin calls on their other crap. They are dumping everything to prop up their leveraged garbage. Bitcoin held up pretty well given the payouts it had to make.
There is still ongoing daily demand for bitcoin and the daily supply is still getting cut in half very shortly. Everyone who dumped will still have to buy back in once they get their shit together. Don't give it back to them so easily!
392.
Post 54051707 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.20h):
the Pound is tanking.
GBP/USD ATL from 2016 is broken.
Pretty much all currencies are going down against the dollar. Weird how that works, isn't it.
RUB down 5%.
Chinese yuan is one of the best performing at -0.25% to USD...
Yet the U.S. are the ones doing the money printing... My only guess is other countries are printing even more?
Weird AF, even if this is exactly what happened in 2008/09.
It has little to do with printing and more to do with confidence. No fiat is really backed by anything so it all comes down to confidence. Since most currencies are at least partially "backed" by the USD, it gains value through confidence in times of crisis regardless of how much the Fed prints as long as it seems generally within reason (to bankers, not the general public).
In reality, the whole world subsidizes the actions of the fed because everything is based on/backed by the USD and the fed's actions create liquidity that helps every country maintain their own house of cards.
393.
Post 54052313 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.20h):
Unrelated but wtf did the SpaceX booster pass on its way back to earth after the launch today? Alien ship?
http://anilyzer.com/?page_id=7&vId=I4sMhHbHYXM&type=youtube#playbackRate=0.25&seekTo=1291
394.
Post 54054858 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.20h):
Anybody has an explanation of btc flatlining?
It's weird, but i take it in lieu of declining.
just a guess but it came in my mind today:
cash is king in these times and therefore a lot of speculation on the price of
BTC is missing. what we see at the moment is maybe nearly the real value of
BTC without the whole amount of speculation which is responsible for all the noise in other times. look how stable
BTC can be without speculation. impressive!
No way this is even close to the real value of btc!
The price is stable because we have market makers involved in the system. They make their money by keeping the price stable. We had a massive dump the other day and then the market makers stepped in and are keeping the price stable at it's current level. If we have a massive pump, the market makers will stabilize the price at whatever it ends up at.
The price only moves up or down when the action is too much for the market makers to control.
395.
Post 54055031 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.20h):
Anybody has an explanation of btc flatlining?
It's weird, but i take it in lieu of declining.
just a guess but it came in my mind today:
cash is king in these times and therefore a lot of speculation on the price of
BTC is missing. what we see at the moment is maybe nearly the real value of
BTC without the whole amount of speculation which is responsible for all the noise in other times. look how stable
BTC can be without speculation. impressive!
No way this is even close to the real value of btc!
The price is stable because we have market makers involved in the system. They make their money by keeping the price stable. We had a massive dump the other day and then the market makers stepped in and are keeping the price stable at it's current level. If we have a massive pump, the market makers will stabilize the price at whatever it ends up at.
The price only moves up or down when the action is too much for the market makers to control.
That's a really strange explanation.
If market makers were buying (from sellers) on the way down, THEN they have to entice a pump (during which they can sell the inventory and stay neutral), otherwise they would be loaded with btc that they (market makers) don't need on a permanent basis.
They don't buy on the way down or the way up when there is a big move. They get out when there is too much price movement. They are mostly present when the action dies down. Look up market making bot.
I'm sure the pros at the big firms have more complex strategies than you can get with a crypto bot but it's the same concept.
396.
Post 54063376 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.21h):
Welcome US to the Negative Interest Rate World.
Negative interest rates have arrived in the US! 6mo t-bill at -2bps. Means you need to PAY US govt for 6mo cash deposit. Rates to go much more negative to weaken dollar. This is confiscation and it is bad but it needed for now to stabilize system. Mega bullish for #Bitcoin
https://twitter.com/dtapcap/status/1240700538825494532?s=21Guess who bought those:
FED BALANCE SHEET: (shiiiiiit!)
And every penny of the fed balance sheet was literally created with a phony ledger entry. Created out of thin air to buy real debt. The US government can spend as much as it wants when a phony ledger entry can instantly absorb it.
There are so few bitcoin that even a minuscule amount of that money would launch us to 100k+. What is the total number of bitcoin currently for sale on order books around the world and how many more would be moved to the exchanges even if we got to $100k? I know most hodlers aren't cashing everything out, even at those levels.
397.
Post 54063528 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.21h):
The fed is vacuuming up $107 billion more in debt today alone, not including the repo market. They say it's a record for a single day.
It's all government debt and mortgages. How convenient that the fed will own all the bad mortgages right before the collapse of the housing market.
https://www.youtube.com/watch?v=aaLuF40xMAk
398.
Post 54064650 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.21h):
Coronavirus appears to be more fatal in men than women.
Seventy percent of coronavirus deaths in Italy have been men.
Data from China shows about 64 percent of deaths in tens of thousands of cases were male, compared to 36 percent female.
Fifty-four percent of fatalities were men in South Korea.
https://thehill.com/changing-america/well-being/prevention-cures/488507-coronavirus-appears-to-be-more-fatal-in-men-than
399.
Post 54087000 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.21h):
This is a bigger deal than anyone realizes. This is not a liability for the federal government. They are saying it's a liability for the Federal Reserve (not the government). This is creating money out of thin air and distributing it to people. It is not backed by anything.
Unlike QE, where they are buying assets and putting them on the fed balance sheet, you can't sell this to anyone in the future. Unlike anything else the fed has ever done, this is purely inflationary. This is the beginning of the hyperinflation of the USD. The birth of the Fed Coin.
Not to be outdone, look for this from every central bank in the near future. Fed coins airdropped around the world hyper-inflating everything into oblivion. Trillions of debt won't seem so bad when a loaf of bread is $1000.
400.
Post 54118837 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.21h):
You know you're on the wrong side of any argument when you find yourself agreeing with Roger Ver or CSW.
401.
Post 54118886 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.21h):
You know you're on the wrong side of any argument when you find yourself agreeing with Roger Ver or CSW.
I know you're on the wrong side of an argument when you're in league with a clamoring majority.
Roger?
402.
Post 54119468 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.21h):
The real question is, what would the numbers be if there were no lock downs, no quarantines and no changes in anyone's daily life. Maybe we'll have a country in Africa or somewhere that doesn't do anything and we'll be able to see if all of the "panic" was worth it.
403.
Post 54119524 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.21h):
The real question is, what would the numbers be if there were no lock downs, no quarantines and no changes in anyone's daily life. Maybe we'll have a country in Africa or somewhere that doesn't do anything and we'll be able to see if all of the "panic" was worth it.
Sweden has no lock down, most African countries
Belarus's authoritarian leader Lukashenko tells everyone go to sauna, no lockdown here.
It isn't over yet lol
Also, even if there is no lock down, they are still changing the activity of people in their day to day lives which helps prevent the spread.
Sweden:
On March 11th, the government announced that it would ban all large events, defined as those for more than 500 people, following a request from the Public Health Agency in a bid to delay the spread of the virus.
404.
Post 54119719 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.21h):
Curious how much of the recent price action has been due to a miner "war" (speculating)? The hash-rate has dropped 45% since the ATH - any thoughts on why?
It's simple, the average cost to mine a bitcoin is higher than the current price so miners with a higher cost shut down.
405.
Post 54126741 (copy this link) (by rolling) (scraped on 2020-04-04_Sat_17.22h):
While everyone is focused on the virus, the destruction of the world economy is slowly happening in the background. This is the start of another great depression. Regardless of what happens with the virus, the depression is already here.
Housing market collapse, commercial real estate collapse, depression level unemployment, mass bankruptcies, mass small business destruction, hyperinflation of the USD. This is game over for the current system. Things will never be the same again.
Start making plans, get yourself positioned.
