Yes, no room for the poor here.

Ponder this: Lightning network requires you to open a channel (high fees) and close a channel ( high fees ). Bob and Alice are not going to be buying coffee. I am not going to be using Lightning. I am going to pay 100-500 dollar transaction fees and buy a boat or a house or just sit on Bitcoin.

A potential flaw in Lightning is the cost to open and close a channel. The fees are high enough that the average user might find it difficult to get onto payment channels. ALso the motivation to do so by the time they roll it out might not be there.

Fees are too expensive already.

Same as it ever was.

Bitcoin Dominance compared to all cryptos is in a bear market. There is a firm downtrend line.

I like to think of Bitcoin as the AOL of Blockchain tech. Wow, AOL was awesome in the 1990's when everyone logged in with a modem.(AOL was also a darling of the market for some time. )  I am just saying Bitcoin is not a religion for me. Bitcoin prices will continue higher and blow most peoples minds. As an investor I try to keep an open mind. As hard as AOL tried to maintain dominance it eventually became less relevant.

Don't get me wrong I am a HODLer 'for now'.

I am the furthest thing from a corporate shill. I am just saying everything has a life cycle.
Mick Jagger and AOL

I am the furthest thing from a corporate shill. I am just saying everything has a life cycle.
Mick Jagger and AOL

cmon
i want an answer

You guys know she is 51 right? You are drooling over grandma titties.

It's hilarious to see the panic and sabotage calls on reddit and in this forum.

Meanwhile, the fees continue to rise:

Do you think that halving the block size is a solution then?

Perhaps Utility trumps hubris?

Whatever your thoughts are... spam , attacks from Bitcoin Cash on core etc. Core brought this about on them selves. Let the market decide. The mere fact that core is vulnerable to these type of attacks tells you something!

One thing pointed out yesterday was the market for gold is 6-9 trillion . The market for cash is over 100 trillion.

920 stinking Satoshis per Byte for a transaction?

I have one wallet with €500 in it, my max spend is €240 with a €260 fee! This really is the future!  Bitcoin Cash isn't the answer, I know, but someone needs to come up with an answer, or people will dump this 'currency' hard soon.

I get the idea that the current crash doesn't have anything to do with the fees though, it's just a random correction.

so only "the rich" can cash-out if they want?

 My advice as a veteran since $49 is to take some profit if you're well into the green to soothe your nerves, and to make sure you hold at least 1 BCH for every 1 BTC you hold.

I paid 10 satoshis/byte ( .13cents)  for a largish transaction on the competing chain which shall remain nameless. (It was in the next block)

Hubris knows no bounds for you.

I paid 10 satoshis/byte ( .13cents)  for a largish transaction on the competing chain which shall remain nameless. (It was in the next block)

Breaking 24777$ prediction game


27/12/2017 bikerleszno
31/12/2017 Raja_MBZ
05/12/2017 BTCMILLIONAIRE
06/01/2018 HanvanBitcoin
07/01/2018 ghandi
08/01/2018 savetherainforrest
09/01/2018 explorer
10/01/2018 bicoinpsycho
11/01/2018 Bitcoinaire
12/01/2018 speedwheel
13/01/2018 undeadbitcoiner
14/01/2018 northypole
15/01/2018 ivomm
16/01/2018 maca068
17/01/2018 bitcoinvest
18/01/2018 last of the v8s
19/01/2018 mfort312
20/01/2018 1982dre
21/01/2018 flamast2
22/01/2018 RealMachasm
23/01/2018 willope
24/01/2018 kartala
25/01/2018 orpington
26/01/2018 rolling
27/01/2018 LFC_bitcoin
28/01/2018 jojo69
29/01/2018 CristiTCM
31/01/2018 realsteelboy
02/02/2018 mancroofer
03/02/2018 True Myth
07/02/2018 vapourminer
08/02/2018 alexeft
09/02/2018 siera
12/02/2018 yonton
13/02/2018 Wekkel
14/02/2018 Thekool1s
15/02/2018 starmman
16/02/2018 Globb0
17/02/2018 leveldkrypto
18/02/2018 olesh
19/02/2018 BitCoinBurger
20/02/2018 Paashaas
22/02/2018 icygreen
23/02/2018 erisdiscordia
24/02/2018 phil_s
26/02/2018 Arriemoller
01/03/2018 bones261
06/03/2018 sa_94
07/03/2018 NUFCrichard
08/03/2018 Imbatman
11/03/2018 badream
13/03/2018 erre
17/03/2018 fragout
18/03/2018 fabiorem
21/03/2018 dakustaking76
01/04/2018 somac.
02/04/2018 kurious
05/04/2018 bitcoinbunny
11/04/2018 hairymaclairy
02/06/2018 oblox
05/11/2018 mikenz
31/12/2018 melman2002
12/02/2019 FractalUniverse
18/12/2021 luckygenough56


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 25-12-2017  @ 22.00 cet

AFTER THIS POST NO MORE NEWBIES MINIMUM 50 Posts

SOME HAVE TAKEN A DATE THATS ALLREADY OCCUPIED      -fluidjax
                                                                                       -vito5
                                                                                       -wachtwoord
                                                                                       -twocorn
                                                                                       -realmachasm
                                                                                       -ludwigvon
                                                                                       -vroom
                                                                                       -dotto
              TAKE DIFFRENT DATE PLEASE GRTS

That's right, you still have to pay !

Agreed. However, I'm suspecting you're not married or have many close family relations in the US? The moment I brought up renouncing to my wife, and that she would need to apply for visas to visit family, friends, etc., well... you can imagine the response. Although she's warming up to it proportionally to crypto value.

Which begs the question, how much is US citizenship worth? A US passport gets you in a lot of places without visas or trouble. Attaining citizenship in another country takes time and often a good deal of (traceable, taxable) fiat. Although being stateless is an option, it's not recommended for long. You have no rights, anywhere.

Take a peek into the inner workings. Technical discussion on address format is strangely compelling.
https://bitcointalk.org/index.php?topic=2624630.0

If you are so content with bitcoin and you are putting your money into it, then why you whining so much like a little bitch?

Why don't you grow the fuck up and figure out ways that you can work around any issue that you might have than trying to act as if the whole fucking sky is falling.  Get a fucking grip on reality... yeah we all fucking know that fees are high right now, so if we are trying to be practical, then we are not sending a lot of small transaction on the bitcoin blockchain if we can avoid it. and we are attempting to figure out ways that we are not personally bearing those extra costs.

I still have three outstanding transactions from a week ago.. so I know.

Furthermore, yesterday, I sold about $6k bitcoin to someone who wanted to buy some bitcoin from me.  Actually he wanted to buy $13k, and I told him that I was only going to sell him $5k, but if he wanted to get $6k, I would agree to $6k rather than $5k if he paid me $50 extra for the transaction fee.  He said o.k..... no problem.  He wanted the extra $1k and he did not mind paying the high fee. 

A day or so earlier the fee was around $20, and a couple days earlier the fee was around $12.  So I am fucking well aware of the increases in the fees, which is frustrating for me, too, but you don't see me whining about it in the same nutjob way as you, because I am figuring out work arounds, and I also understand that there is a bit of a war going on right now and there are malicious players who are attacking the bitcoin network.  I am not sure if either the attacks are going to go away or if there are ways that such spam attacks can be fixed, but I am willing to accept that the new state of bitcoin could possibly be a state in which spam attacks continue to be ongoing which causes higher fees and also causes slower transaction times and also takes away some of the lower cost use cases of bitcoin because the bcash nutjobs and who ever else is engaging in such ongoing and persistent spam attacks continue to believe it is in their interests to continue to attack bitcoin.  So in the end, this spam attack dynamic becomes the new reality of bitcoin, at least for the time being and it could persist for a long time, so we have to figure out ways to deal with it and to prepare ourself for such new situation, and if we don't like it, then we sell our bitcoins, no?  If we think that there are better solutions, then we buy into them, right?  Oh no, instead you want to whine about it, rather than figuring out some work arounds, right?

Whining about somebody explaining why BTC is bad... and accusing them of whining....

All you seem to have done is prove his point. Hilarious.

New Zealand is a very nice place to live. Come on down.
https://www.newzealandnow.govt.nz/investing-in-nz/visas/investor-visa

Depends on where you  live. Wellington is windy and gets a lot of rain, although the city is beautiful. I spent many years working in Wellington and I prefer it over Auckland. Auckland is nice but it has gotten expensive and crowded. Wine country of Hawkes Bay is fantastic.( Napier and Hastings) Great weather, many wineries, great food, fantastic bike riding.

The south island is extremely beautiful. I will be spending some more time there next year. So many great places. I want to go to Lake Tekapo. It is one of our dark sky reserves for seeing the night sky.


 

This is actually a good point.  TX fees are extremely high right now because BS/Core has formed a cartel in order to limit the production of block space.  What is confusing (and ironic) is that the miners (those who one would naively suspect to attempt to form a cartel) want the production quota lifted!  So, yes, experience is showing that Bitcoin is somewhat susceptible to cartel formation (it's just surprising that it's cartels of developers rather than cartels of miners).    

Blablabla

Yeah, Trezor. My only question there is what happens if they get hacked, and is there a way to run your own trezor server on your own system (so you don't every have to depend on the Trezor company to be in business)?

Never got into the whole HW wallet thing. Are they worth it?

Is there any one big significant drawback?

https://mobile.twitter.com/iamjosephyoung/status/951300898571018241

Probable rubbish once again. But I'm past caring.

Telling people in crypto not to panic is like telling you’re wife to calm down when she’s angry.  It tends to fuel the fire. LOL.  I think this one might take some time to recover.  I hope I’m wrong.

thanks for link ... good services ;-)

I think we need to see some sort of capitulation before this bear is finished. Maybe we are getting close. I think we need some panic selling.
Prices are still up quite a bit from one year ago. ( to keep things in perspective )
On April 2, 2017
BTC = 1079.44
XMR = 21.22
etc..
I would prefer this bear does not drag on, so a panic flush, would set the stage for setting a base and a new bull. I hate the drip , drip , drip of down. It does feel a little like 2014.

It seems like so many bears where sleeping while the bottom was set in with huge volume of capitulation on February 5th.

Too depressing to post right now.

The last 8 hours have been SO FUCKING BORING OMG

Looking at the uptrend lines of the past few years, it looks to me strong support at 4-5k. If we hit that support the downtrend could be over soon. Anyways , I hope we do not go that low, but it appears possible. Maybe we go as high as 8k in the current rally and then back down?

Time to dump your rare earth metal stocks boys 

https://www.cnbc.com/2018/04/12/japan-rare-earths-huge-deposit-of-metals-found-in-pacific.html

I cash out at least 50% every rally which ensures both that I am able to enjoy life and that I have something to show if/when bitcoin finally crashes for good. It makes me much more confident about hodling the remaining portion.

My General strategy.

1) I try to keep my bitcoin and crypto to no more than 20-25% of my net worth.
Some may think this is low, others too high. This what I am comfortable with. This includes realestate etc.
2) With price appreciation in the crypto portfolio , I generally recycle out profits to three areas, stocks, Gold, and US dollars ( short term).
A) Stocks I use for income and capital appreciation.
B) Gold for long term stable holdings ( relatively speaking)
C) US dollars for buying more Bitcoin or to withstand bear markets.
3) Generally I am recycling some alt coin profits into BTC and Gold right now.
4) I got involved in Bitcoin in 2013 and have maintained my position. ( total number of coins ) While harvesting profits and recycling them into other assets.

Goals:
1) I want to maintain my total number of BTC
2) Recycle out some profits from trades for other assets or increased life style.

I am definitely not as big a holder in BTC as some of you, but is has been a great ride so far.

Buying a house in cash is a waste of equity. Think bigger!

Fun Graphic, I want to see what happens when the trains come.

https://bitcoinsubway.cash/

The Storm is upon us
https://www.youtube.com/watch?v=3vw9N96E-aQ

My bitcoins are worth significantly less than they were yesterday. Yours?

 Nope.  They're still my babies.

His primary rules were: never allow the public to cool off; never admit a fault or wrong; never concede that there may be some good in your enemy; never leave room for alternatives; never accept blame; concentrate on one enemy at a time and blame him for everything that goes wrong; people will believe a big lie sooner than a little one; and if you repeat it frequently enough people will sooner or later believe it.

WHEN looking into the future.......knowing my ledger sticks and growing fiat value 

better i buy this picture as well

And Boom Shorts getting rekt!

Bitfinex at 100$ BTC premium What is going on?

That's what JayJaunGee told me he does, and that's indeed a very powerful strategy. I got almost 7x, and if I had taken 10% out I would be much more relaxed now.

This strategy allows you to become rich and protect you from becoming poor lol

Yes, that is a good strategy. I also use this strategy and I have been relaxed about the decline. I have started to scale back in now. It has all been house money for years now as I took out my original investment many moons ago.

Whatever happened to rpietila ?? He had a castle and went insane...or kinda lost the plot? He had some game or virtual world going as well. He made some really good posts years ago.

This is great advice.

The bear market will be long and tough to endure, and this is just the sort of work that will be making progress, instead of anxiously watching falling or stagnant prices.

Verification can often be a long process. It is also useful to be familiar with the rules of the exchanges and businesses you deal with.

Yea, that is good advice for someone starting out. Bear markets are good for getting your infrastructure set up with exchanges etc. I sold some btc back in the first quarter and I had to go through a whole process explaining where it came from. Everything worked out fine , but definitely take advantage of this time to get set up.

But we have to keep in mind this is an overextended run without any significant pullback. Price doesn’t rise in straight lines
So we can expect some kind of reaction at around 4.4k
And if we get to those 5k levels I still expect us to see the yearly lows again

What I find amazing, is the sea levels rose so much before fossil fuels came into the picture. < (sarcasm!)

What I find amazing, is the sea levels rose so much before fossil fuels came into the picture. < (sarcasm!)

He makes a good point

Proof of keys? I control my own keys thank you.

Trusted third parties? Isn't that an oxymoron?

I haven't had any coins on an exchange since MtGox. Luckily that mistake only cost me 50BTC. Never again.

Closest thing I have to a trusted third party is my Trezor which I somehow got talked into using against my better judgment. Luckily I only have 5BTC on it. I stopped using it last year after having it for less than half a year.

Obviously cold ("paper" wallet) storage is much more secure. Only I have control over the keys and they're never exposed to the internet except when I sweep a wallet into Mycelium to transfer coins and that's only small amounts for short periods of time.  

This is why it's good to spread your stash between dozens or hundreds of small wallets. My biggest single wallet has a little over 30 coins in it (from pulling out what I had at Cavirtex after being Goxed) but I'm almost scared to sweep it to split it into smaller wallets because that would entail risking that many coins at once by exposing them to the internet.

I suppose I should empty my Trezor on Genesis Block Day as a way to assert ownership of my keys instead of trusting Trezor. Then again why wait until Jan. 3?

for the netherland WO's



https://twitter.com/CryptoCountant/status/1080083168919728128

I don't understand the fud, sure we went off a fucking cliff or two today but this doesn't mean we're going to have a new bottom.

I have thought about this, thats why I said I have orders to buy 3 more coins at 2k. Thats all I can afford to lose. It will bring my total investment to almost 40k. I will not invest another dollar after that. All ive known investing in Bitcoin is a terrible bear market and its hard not to worry as early adopters dump on my face , but thank you for the advice.

Im interested in hearing other Bitcoiners best argument(s) as to why the bottom is not in yet(i believe it isnt but hope im wrong). If you have one id love to hear it. If not thanks anyway.

you find a pool?

Yea, I am throwing a 1070 ti at F2Pool. What the hell. I mined Monero very early on under 50 cents. You never know.

Even a broken watch is right sometimes.  

tune in to Trump? https://www.youtube.com/watch?v=1AcY-9Hglzw

Unconfiscatable Conference

Pretty good panel if you are interested. 10 hours of discussion from yesterday.

https://www.youtube.com/watch?v=16T5CUNGX2Q

Trace Mayer was interesting.
The author of the Bitcoin Standard spoke.
Tyler Jenks a traditional money manager spoke about Hyper Wave. He is bearish for now but very bullish longer term.
Ugly Old Goat spoke and unmasked himself.
Another analyst spoke about why he thinks we have entered the accumulation phase.

Overall pretty good.

I lived in China for about six months.  In Shanghai, in the French concession.  I was working for a company in the Jing'an district.  This gave me the opportunity to experience first hand what it is like to live in a country with little to no environmental regulations.  It has been awhile since I have been there so things may have changed a bit since but I have my doubts.

• I went out to the bars on Bund one night and came home piss drunk.  Hopped in the shower and was thirsty and drunk so took a big mouthful of water.  I nearly vomited and was instantly sober.  Shanghai tap water is disgusting - no one drinks it except the very poor.  It tastes like liquid metal with god knows what mixed in
• I was driving home in a taxi one winter evening and looked out the window at the beautiful snow fall.  Then I realised it was still well above freezing.  The falling "snow" was just fly ash from the local coal fired power station
• A friend of mine landed at the airport.  I went to collect her.  On the taxi ride into the city she commented on the moon which was high in the sky.  I told her 'no' that's the sun and its just smog that make it look dim.  We then had an argument about whether it was the sun or the moon.  I was right and she was wrong.

Here is a picture of what Shanghai looks like on a typical day



Here is a photo of Beijing, which tends to be worse than Shanghai



A pic from Shijiazhuang which is further inland





You guys might think that environmental regulations are killing the USA and UK, but I suggest the opposite.  A lack of environmental regulations are killing China and places in Asia.  All the rich Chinese establish anchor homes in the West, in part just so they can get away from the pollution.  

Think twice before you advocate for getting rid of environmental protections.  You might think that the EPA is communist, but it is truly awful living somewhere without proper environmental controls.  I was offered a pay rise if I would stay for another six months after my contract was up, but I got the fuck out of China and have never been back.  Once I got off the plane in the West and walked into the airport parking lot, all I could smell was this wall of fresh air and flowers.  That memory is absolutely seared into my brain after six months of living in smog.  




Some more information just so you don't think I am making it up:

Source: https://www.travelchinaguide.com/essential/water.htm

 Source:  https://www.abc.net.au/news/2017-01-08/chinese-air-pollution-crisis-caused-by-ongoing-coal-use/8168702

The world gold council says this huh? No chance they could be bias now is there?

Update from Cryptopia Managing Director posted on Discord :

a new ATH would be nice before the halvening, between 30k and 70k after that a crash down and then a new rise after the halvening.
Adoption is rising and big players are getting into the game. Infrastructure is being buildt and me might get an ETF this year.
Things are set up for a new wave of adaption.
The price looks quite parabolic but yet not too steep, so things are looking quite good.
Nobody knows, i can just say it feels like it going to do something that nobody is expecting

More positive news

Yahoo!’s cryptocurrency exchange to go live on May 30

https://www.fxstreet.com/cryptocurrencies/news/yahoos-cryptocurrency-exchange-to-go-live-on-may-30-201905280742?utm_source=tradingview&utm_medium=rss&utm_campaign=254b9d70-7c4b-481b-a94e-aaac0c60ed14

10k Tonight? Go!

I am ashamed. I was not in fomo/pump/hodl mode enough to be anywhere near right.

playing my fomo song still

Brad

Here's the Puell Multiple Z-Score Chart against $btcusd prices based on @kenoshaking's multiple to spot market tops and bottoms. This tells me that the party has hardly started.

Ledger researchers discover seed exploit on Trezor.
FYI

https://beincrypto.com/ledger-researchers-uncover-seed-extraction-exploit-trezor-wallets/

Still in the triangle. If this breaks out upwards, this is going to play out exactly like anon predicted. $16k in October.

Big 200/350D MA Golden cross is supporting this too. You can't get more bullish than this.

Good news is, it looks like there will be another month (maybe 2 at best) to collect cheap coins. Possibly our last chance. Consolidation is happening around here. Anything you buy from here may return you x6-x10 profits in a year.

BAKKT will be the trigger probably.

I was also thinkin about Torque's post.


Either Anon knew BAKKT was going to launch on Sept 23 (less likely), or the BAKKT officers put the launch date on September, purposefully just to amplify the gains. Right before the big parabolic move.

It is more than just Lithium. According to the CEO of Sandfire Resources , we will need 12 times our current copper usage. The list goes on into other materials such as rare earths.

Don't get me wrong , I am for the green energy movement.

Ready for some weird stuff. Bitcoin Sci-Fi
Someone else posted this on F2Pool

Hyperbitcoinization on Earth BTC

What does a hyperbitcoinized future Earth settling nearby planets look like?

https://www.unchained-capital.com/blog/law-of-hash-horizons/

If someone else has posted this already ...my bad

Oh yes, he now says all the same things I do about Bitcoin, so that means because he's not attempting to promote the pump and dump scam for JayJuanGee to profit on from fraud, he must have zero credibility and be a complete nutjob:

That's an evasive response if I had ever seen one.  

Antidepressants are evil.

Hey Hairy. What is the feed in tariff rate where you are. I am .11cents AUD.

Oh no! Not Bakkt again! This is going to trigger V8!

I just woke up to some of my buy orders getting filled. Here is a fractal that may play out. I am not expected a V bottom in any case.