Thread: RIP Bitcoin

Originally Posted by baldrick

yes - on par with butterfluffer

though in his defence , I would also like to point out that Earls level of knowledge about blockchanins and crypto is not much higher

all his posts are - evil banksters , distributed , BTC moooooonnnn

furry muff.

GXShares looks good for long run hold

thecryptodivision has an article from a couple of weeks ago with an in depth look at ripple

Interesting penultimate paragraph.

LONDON — Bank of England Governor Mark Carney tore into bitcoin in a stinging speech and interview on Friday, warning the digital currency could be heading for a "pretty brutal reckoning."
Speaking to Sky News, the Governor said cryptocurrencies have "all the hallmarks of a bubble. And normally they end with a pretty brutal reckoning."
Bitcoin rose almost 1,500% against the dollar last year and its rapid rise attracted large numbers of retail investors to space. But the digital asset has halved in value since the start of the year and many commentators suggest the entire space is unsustainable. ECB board member Yves Mersch said last month that the market is held up by investors who "believe they will find a greater fool to sell to before the inevitable crash."
Carney said that bitcoin and other cryptocurrencies are "failing" in their key objectives and called for regulation of the space.


Addressing whether cryptocurrencies are actually money, Carney said in his speech on Friday: "The long, charitable answer is that cryptocurrencies act as money, at best, only for some people and to a limited extent, and even then only in parallel with the traditional currencies of the users.
"The short answer is they are failing."
Carney said bitcoin fails to pass several key tests of what a currency should be able to do. Citing the work of Scottish economist Adam Smith, Carney noted that currencies should be a store of value, a medium of exchange, and a unit of account. Bitcoin and other cryptocurrencies fail at least two of these tests, he said.
"Cryptocurrencies are proving poor short-term stores of value. Over the past five years, the daily standard deviation of Bitcoin was ten times that of sterling.
"Consider that if you had taken out a £1,000 student loan in Bitcoin in last December to pay your sterling living costs for next year, you’d be short about £500 right now. If you’d done the same last September, you’d be ahead by £2,000. That’s quite a lottery. And Bitcoin is one of the more stable cryptocurrencies."
Cryptocurrencies also fail as a medium of exchange, Carney said.
"The most fundamental reason to be sceptical about the longer term value of cryptocurrencies is that it is not clear the extent to which they will ever become effective media of exchange," he said.
"Currently, no major high street or online retailer accepts Bitcoin as payment in the UK, and only a handful of the top 500 US online retailers do. For those who can find someone willing to accept payment for goods and services in cryptocurrencies, the speed and cost of the transaction varies but it is generally slower and more expensive than payments in sterling."
Carney made a similar assertion that bitcoin is "failing" in another speech last month. S&P Global Ratings argued in a recent note that cryptocurrencies are "a speculative instrument" rather than a cryptocurrency.
'They will be regulated'

Carney called for greater regulation of cryptocurrencies in an interview with Sky News at the venue of Friday's speech.
"There are issues for authorities who deal with money laundering, terrorist financing, and price fixing. There have been a number of incidents of theft — not just big crimes but also steady thefts from people's wallets."
"The operational standards of these currencies are nowhere near where they need to be," he said. "They will be regulated in my view."
Earlier this week it emerged that the US Securities and Exchange Commission has sent out a flurry of subpoenas to cryptocurrency companies asking for information. The move has been seen by most as a precursor to regulating the sector.
Initially slated to appear at the inaugural Scottish Economics Conference in Edinburgh, Carney was forced to deliver his speech remotely thanks to the severe weather which has hit the UK in recent days.

Bank of England Governor Mark Carney questions bitcoin's role - Business Insider

Holding these from here on;

NEO
Decred
GXS
BlockMason
Icon

Kept a few hundred bucks in BTC for playing with, in case i get a itchy trigger finger.

Originally Posted by Mr Earl

Because Bitcoin is the network, all the others are along for the ride.

It ain't rocket science..Just simple high military grade un-hackable cryptography

Sorry but nothing is unhackable, could be today but tomorrow is a long time. Fex ETH, great smart contract as a platform for all sorts of wizardry, but immutability may be its weakness because if/when it is hacked every ETH and token becomes vulnerable. Same goes for BTC and all the alts, nobody knows how far or fast or which direction it takes once the box is opened.

Originally Posted by jabir

Sorry but nothing is unhackable, could be today but tomorrow is a long time. Fex ETH, great smart contract as a platform for all sorts of wizardry, but immutability may be its weakness because if/when it is hacked every ETH and token becomes vulnerable. Same goes for BTC and all the alts, nobody knows how far or fast or which direction it takes once the box is opened.

I reckon it is possible to hack Bitcoin, it would be very expensive and time consuming, and if successful it would last only a few minutes due to the decentralized global ledger. The security of Bitcoin is very strong...

.............

Originally Posted by Mr Earl

I reckon it is possible to hack Bitcoin, it would be very expensive and time consuming, and if successful it would last only a few minutes due to the decentralized global ledger. The security of Bitcoin is very strong...

Sure BTC has great security, but counter tech is rarely more than a few key strokes behind the best tech of the day, and all future crypto improvements and generations and tangents to other as if not more brilliant concepts are and will always be on offer to counter ingenuity, forever.

Ripple CEO & CoinBase COO will be appearing on CNBC Fast Money show on Tuesday.

Fuel to rumours that CB is about to list XRP with fiat pairing.
Or maybe just it's just two blokes being interviewed on the state of the industry. JIC anyone wants to play catch the falling knife based on what they think might be said. Looks like most posters here have gone into HODL mode.

Originally Posted by Plan B

Ripple CEO & CoinBase COO will be appearing on CNBC Fast Money show on Tuesday.

Fuel to rumours that CB is about to list XRP with fiat pairing.
Or maybe just it's just two blokes being interviewed on the state of the industry. JIC anyone wants to play catch the falling knife based on what they think might be said. Looks like most posters here have gone into HODL mode.

I wouldn't get too exited about XRP, it is a centralized fiat style currency for the big institutions, not a secure store of value for the small investors.
XRP will get widespread adoption but never gold standard status like BTC.
Also Coinbase is in doodoo for some insider trading shenanigans. Screw those greedy BCH scammer pricks!
I went into HODL mode back in October when I got my last BTC, and sat back and watched that crazy rocket ride to 20k.

Btc is forming a double top on the 1 month chart.

could be heading way down, if double top pattern holds (falls below neckline):

:

https://www.dailyforex.com/forex-tec...h-7-2018/93419

BTC/USD Forex Signal

Wednesday, 7 March 2018 10:22

I wrote yesterday that despite the drop, I maintained my bullish bias – as there was clearly a bullish structure of higher lows and highs which had remained intact. This was not a good approach, as the price has moved down steadily and quite strongly over the past 24 hours, invalidating former support levels and printing new lower resistance levels. It now looks as if the price is most likely to continue downwards to an area below $10,000 although there may be minor support at about $10,200 which could at least temporarily halt the fall. I have a bearish bias now.

......

^ so basically this is just guesswork cloaked in jargon and waffle...was it from reddit?

You don't think btc (ripple and others follow) is moving on technicals?

wow!

just look what btc and ripple did after btc formed a double top:


Btc down from 11000 yesterday to below 10000 this morning.

Ripple down from 9300 yesterday to 8300 (this morning), breaking strong support at 9000.

anyways: if hodl is working for you, no need to look at technicals, of course.

Originally Posted by Ukan Kizmiaz

so basically this is just guesswork cloaked in jargon and waffle

Yep, and a lot of after-the-fact wisdom in hindsight.

Originally Posted by AntRobertson

Yep, and a lot of after-the-fact wisdom in hindsight.

was my double top call "after the fact"?

the same kind of technical analysis with "jargon" is done for currencies/stocks, of course.


Anyways, ant when are you going to do a deep dive (like other posters have done on this thread) into learning about cryptos/blockchain?

you don't seem any more knowledgeable than you were 3-4 weeks ago when you started.

too busy fighting with smeg over on tc?

Mmmmmm waffles

Originally Posted by Farangrakthai

Anyways, ant when are you going to do a deep dive (like other posters have done on this thread) into learning about cryptos/blockchain?

What, like you did and then boasted to me how long you'd spent researching it?

So you could come out with pearls of wisdom like: 'BTC might go up... or it might go down'?

Nah. Can't be arsed.







By the way FaRT,

my post wasn't even directed at you. I know you like to think you're important and my enemy and stuff but you aren't. You're a bit thick and tedious.

Get over yourself and stop trying to make this thread about me and your butthurt.

Originally Posted by AntRobertson

Nah. Can't be arsed.

yep, no intellectual curiosity.

better to to spend your time throwing mud at smeg.

Annnnnnnnnnnnnnnnd it's off again...

Flame wars are all you're good at.

let's see if you are capable of not having the last word.

Thread Topic: Bit/alt-coins
FaRT: "ant...ant...(ant)...ant...ant...(ant)..."



Starts flaming another posters. Complains about flaming.

*DERP!*