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Thread: RIP Bitcoin

  1. #101
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    ^
    A lot of companies and media using the term blockchain because it's a buzzword that people know. Distributed Ledger Technology would be a better term.


    I sold my Monero for BTC back when it was $922. Was gonna cash out but the price of BTC keeps rising. There's been no advances in the technology of BTC for a while. I can see no logical reason for it to continue appreciating except that speculators & stupid crypto-anarchists keep buying it. I feel like I'm making money out of the stupidity of otters. I'm sure something will be announced in the media re: regulation or restrictions or bans or something and it will crash spectacularly like it has before.

    Working on an exit plan.
    Ronald McDonald never sells to children. He informs and inspires through magic and fun.

  2. #102
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    Quote Originally Posted by Plan B
    I sold my Monero for BTC back when it was $922. Was gonna cash out but the price of BTC keeps rising. There's been no advances in the technology of BTC for a while. I can see no logical reason for it to continue appreciating except that speculators & stupid crypto-anarchists keep buying it. I feel like I'm making money out of the stupidity of otters. I'm sure something will be announced in the media re: regulation or restrictions or bans or something and it will crash spectacularly like it has before.
    That is similar to what I think about the USD.
    The nice thing with BTC though is that you can't just create an unlimited number of them overnight.

  3. #103
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    BTC continues to rise on possibility of an ETF submission going through on 11th March. If it's successful BTC will prolly go through the roof. There are many reasons why it won't pass but loadsa 'investors' buying into BTC now because of FOMO. I'm holding and selling out just before the submission date. Seems like easy money.

  4. #104
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    I've been really getting into crypto magic internet money recently. The market is going insane... A billion dollars entering every day. If you put money into anything in the last month you'd be looking at profit.

    I made 10k $US in the last two days. Corrections will wipe some of that profit but there will be another pump.

    Check the charts if you're interested in high risk/high reward

    https://coinmarketcap.com/

  5. #105
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    I play around with Ethereum. Buy low, wait a day or two, sell to make about 6% profit, repeat ad nauseum.

    .. although in the past week, the ETH price has increased substantially. I was waiting for a low to buy, so I'm not in with a profit

  6. #106
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    I bought Eth at $10, sold at $46 when it was on a down-buzz thinking I was making a nice profit.

    Lesson learnt... Buy and hold, ride the waves.
    It's now at $68

  7. #107
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    Sounds like a bubble

  8. #108
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    It's the new dotcom bubble.
    It's virtual tulip mania.

    It's the fintech version of the early internet struggles for browser and search engine dominance. One of these companies will be the new google of money transfer worldwide, the others will be famous for being the "Ask Jeeves/MSN/Yahoo" of the day.

  9. #109
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    Quote Originally Posted by Plan B View Post
    I bought Eth at $10, sold at $46 when it was on a down-buzz thinking I was making a nice profit.

    Lesson learnt... Buy and hold, ride the waves.
    It's now at $68
    Got to disagree about the lesson learned. You sold and made a huge profit, that's a win. The price could just as easily collapsed the next day.


    Buy and hold is for stuff with some intrinsic value.

  10. #110
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    ^

    Getting in only takes a small bit of effort, you KYC with a gateway and throw your loose change in when you can. Getting out is the difficult part. Where do you exit on a bull run?

    It's all about managing regrets. Regret not buying DASH at $10 (now $94) No regrets buying XRP at $0.006 (Now $0.05)

    Right now these markets are only known to the crypto-anarchists and the tech-savy. Forbes and WSJ are only starting to notice them. I think the bubble has still got a while to go till it pops.

  11. #111
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    I think playing blackjacks has better odds

  12. #112
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    What are the fundamental differences between bitcoin and ethereum?

  13. #113
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    As per May 6 2017

    1 Bitcoin equals 1418.45 Euro or $1,519.97

  14. #114
    disturbance in the Turnip baldrick's Avatar
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    ETH is very close to 100 USD
    ZEC has also passed 100 USD

    there is a bit of exuberance in most of the crypto markets - so there could be a pop

    but if you are mining coins with an underlying reason for existance yourself and plan to hold them for a while , it is not an issue

  15. #115
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    Quote Originally Posted by baldrick
    but if you are mining coins with an underlying reason for existance yourself and plan to hold them for a while , it is not an issue
    This is a huge understatement. You don't need to mine coins, you can buy direct and not need to bother with the hardware/power issues of mining.

    The market recently has increased by a billion dollars a day. If you put some money into one of the top coins a month ago you would be looking a 30% profit.

    Balders, what are you mining?

  16. #116
    disturbance in the Turnip baldrick's Avatar
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    ETH and ZEC on contract
    and ETH via pool

    might yet move to ZEC with a pool - ETH proof of stake cannot be too far off

    was going to sell my ETH at 3500 baht and buy ZEC

  17. #117
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    ^

    What happens when ETH goes POS? Do you hold and get interest?

    I'm back to mining XMR and selling it for XRP. XRP could change the banking world. I like their vision...

    "Before internet, every network had to worry about connecting to each and every partner networks. This also meant they have to worry about using same routers, same settings, same software, and one went wrong, it all fell apart. After internet ( network for information ) , one only have to worry about connecting to internet and having bandwidth to download or upload. All packets are IP Packets, and now no one worries about the burden of many separate partner networks

    Now if you think of the same way for "value" instead of "information", then currently every bank has to trust hundreds of other banks in many countries, and maintain accounts with foreign reserve (bandwidth), to be able to perform remittances. This also includes the risk of some remote foreign bank going belly up. Now with Ripple, all banks have to just worry about connecting to RCL and having enough bandwidth (XRP - universal bridge)

    Like internet, initially people will have hard time to catch on, but before you know there will be millions of websites serving different needs. Same way, before we know there will be many services on RCL, all consuming XRP"

  18. #118
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    the 2000 Euro mark is not far

    1 Bitcoin equals May 11 2017
    1863.94 US Dollar

    It will reach 2000 Euro, give it a few days...

  19. #119
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    jesus christ, no end in sight with silly money

    reminds me of Gold, but dumber

  20. #120
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    12 06 2017

    2595.96$ Usd
    2316.13 Eur
    17639.81 Cny
    2051.05 Gbp

  21. #121
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    what a bubble, hopefully only stupid chinese and drug dealers into that game

  22. #122
    disturbance in the Turnip baldrick's Avatar
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    Bitcoin had a large drop in the last month - from a high of 2900 USD on june 11-12 to a low of 1850 USD on Jul 16 - last nights peak was 2300 USD , now about 2250 USD

    the issue has been the proposed need to increase the block size and the deadline is basically the 1st of august , though as you can read and see from the graphic , July 17th was an important date

    it does look like segwit2 will happen , but this consensus / governance issue is going to hang over the coin - other coins like decred/DCR which is built on the BTC suite have voting coded into the coin so all holders of coin can vote

    a good visual of the current drama surrounding bitcoin

    What Could Happen to Bitcoin? A Visual Guide to Scaling Outcomes - CoinDesk


  23. #123
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    what a complete scam,

    make boiler room boys sales speech sound almost normal

  24. #124
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    Quote Originally Posted by baldrick View Post

    a good visual of the current drama surrounding bitcoin

    What Could Happen to Bitcoin? A Visual Guide to Scaling Outcomes - CoinDesk

    for those who find that a bit hard to follow, heres the simplified version.


  25. #125
    disturbance in the Turnip baldrick's Avatar
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    Quote Originally Posted by Dragonfly
    make boiler room boys sales speech sound almost normal
    sales speech ? " butters suck my cock now " is just an order from your superiors

    Quote Originally Posted by taxexile
    well that certainly makes it easy to understand.
    there are no diagrams to explain why the segwit2 proposal could be an absolute clusterfcuk even apart from a chain split

    the original thought behind BTC was brilliant , but its use has evolved in ways that were not forseen - one of the reasons for the hardfork of the blockchain being required ( though not everyone agrees )

    a blockchain is just bits which encode transactions that basically are immutable unless you can control over 51% of the computing power

    but as the BTC blockchain has been used to encode more and more information other than transaction records it has become a bloated beast of a thing which has slowed down transaction resolution times and the cost of the computing power to encode each time has been increasing which has increased the transaction costs

    litecoin / LTC was spun off using the BTC code to remove the ability to have all the cruft added ( don't quote me on this , I understand it only barely )

    but blockchains are here to stay - the ability to encode data , transactions , land deeds with timestamps and that information can not be changed - it exists for the life of the blockchain - this is why it is such an innovation

    the trial below would have produced efficiencies

    One of the largest-ever implementations of the ethereum blockchain for a charitable cause has just concluded a successful trial.

    Completed on 31st May, the project run by the United Nation's World Food Programme (WFP) was designed to direct resources to thousands of Syrian refugees by giving them cryptocurrency-based vouchers that could be redeemed in participating markets.

    As revealed exclusively to CoinDesk, the platform was successfully used to record and authenticate transfers for about 10,000 individuals. The platform was implemented by Parity Technologies, a startup led by ethereum co-founder Gavin Wood, and blockchain big data firm Datarella.

    Alexandra Alden, a WFP innovation accelerator consultant who helped oversee the implementation, told CoinDesk:

    "All funds received by the refuges from WFP were specifically used to purchase food items such as olive oil, pasta and lentils."

    The WFP is now in the process of gathering more detailed analytics, such as exactly how many transactions were conducted.
    Last edited by baldrick; 19-07-2017 at 03:22 PM.

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