Thread: RIP Bitcoin

if Ant's a downunderer he should be buying a Mad Max car....that's not a Charger anyway...not sure what it s

Aye, this is a Charger:



Mine’s a Pacer, basically the four door version of the Charger (which I’d prefer but don’t have a spare $300,000 to buy because I lost all my money on alts )

stick a fork in Monero , it is done

One hard fork later, there are four new Monero projects.
Monero hard forked to version 12 of its protocol yesterday. But not everyone is on board. Following the example once set by Ethereum Classic , some users are continuing on the pre-hard fork Monero blockchain… though in this case not as a single project. Now there is Monero Classic , Monero 0 (XMZ), Monero Original (XMO) and a second project by the name Monero Classic (XMC) (which in this article we will refer to as Monero-Classic); these are all continuing on version 11 of the Monero protocol. Of course, this means they are all still compatible on a single network, using the same asset (coin) - just with different names.

Here's the story of the pre-hard fork Monero blockchain and the four different projects keeping it alive.

The Hard Fork
As an ongoing protocol upgrade process, Monero has made a habit of hard forking once every six months. The latest hard fork introduced several new features, including an increased ring-size for more private but also bigger (thus more resource-intensive) transactions, multi-signature transactions, initial Ledger Nano S hardware wallet support, and more.

The latest hard fork also introduced a tweak to Monero's CryptoNight proof-of-work hashing algorithm. This backwards-incompatible change makes all existing ASIC (application-specific integrated circuit) mining hardware useless. Such specialized hardware is a bigger concern on the CryptoNight hashing algorithm than most other hashing algorithms, as it could let ASIC miners launch denial-of-service (DoS) attacks on non-ASIC miners and non-mining nodes on the network.

The risks presented by ASIC-mining hardware appeared to be reason why at least most of Monero's development and user community agreed on the change. However, not all parties were equally happy with the hard fork, presumably. Most notably, major hardware manufacturer Bitmain , as well as smaller manufacturers Halong Mining and PinIdea , recently all announced that they had developed ASIC machines for the CryptoNight hashing algorithm. All this hardware would be rendered mostly useless after Monero's hard fork.

Now, over the past couple of days and weeks, four projects have announced that they will continue to use the pre-hard fork Monero protocol. Since all four are using the same protocol, they are (at least as far as we can tell) really all the same network and coin, albeit with different names and logos.

https://www.nasdaq.com/article/moner...jects-cm945010

Originally Posted by AntRobertson

Mine’s a Pacer,

Ausssie Mopar?

Yep... Made by Chrysler Australia.

Can get a little confusing because the Pacer looks more similar to the US Charger it’s based on than the actual AU Charger does.

did you lose your verginity in one ?? - and was it your dads

the irony of posting about it on a thread where you were alt deflowered

Originally Posted by baldrick

did you lose your verginity in one ??

Ye... oh wait, I thought you said ‘to one’!

No. The answer’s no.

Originally Posted by baldrick

stick a fork in Monero , it is done



https://www.nasdaq.com/article/moner...jects-cm945010

Good info.

Doesn't seem to have effected the price any.
Far too early to call it as dead. XMR does have the popularity value.

ok, from boys and their muscle cars back to btc:

Originally Posted by baldrick

^ this seems to be the common consensus across the board

if it breaks below 6k , then it will head to 3k - but all expect a rapid climb once it finds its bombatta whether that is the big black bombatta at 6k or the svelte bombatta of the north eastern matteress warrior at 3k

i like the comparison (previously posted on this thread) to the dotcoms and nasdaq in the late 90s.

btc still has a way to fall, if it follows the nasdaq path:




and, it took nasdaq 15 years to reach it's previous high.

NASDAQ chart:

Originally Posted by Farangrakthai

i like the comparison (previously posted on this thread) to the dotcoms and nasdaq in the late 90s.

you will love this chart then

Bitcoin's rough patch looks like the Nasdaq during the tech bubble — except it's moving 15 times faster

https://www.businessinsider.com/bitc...-faster-2018-3

Originally Posted by baldrick

you will love this chart then

you still planning to buy more crypto (like decred) when btc finds a bottom?

how will you decide when you think btc has found a bottom (genuine question)?

decred 90 day chart:

Originally Posted by Farangrakthai

how will you decide when you think btc has found a bottom (genuine question)?

nothing scientific - will look to see what happens over the weekend and on monday

if it starts to look like it will continue to trend down , then I will wait - but if it starts to look like it is heading up I will spend the money I have assigned and buy

Originally Posted by baldrick

nothing scientific - will look to see what happens over the weekend and on monday

if it starts to look like it will continue to trend down , then I will wait - but if it starts to look like it is heading up I will spend the money I have assigned and buy

fair enough.

look at a basic btc chart?

A reminder of what you could have instead of indigestion. The dealer threw in the number plate for free!

^coulda had 3 if he hodled

Originally Posted by baldrick

if it starts to look like it will continue to trend down , then I will wait - but if it starts to look like it is heading up I will spend the money I have assigned and buy

typical amateur MO

you should buy when it's down and there is blood in the streets, not when everyone is jumping back on the bandwaggon

small player, so much for striking it rich with all those ASIC mobos

butterfluffer - I do wonder why you bother

you make it obvious that you do not understand one whit of all this and then spout things you hear while you are fluffling your boiler room bosses

and also boast on here about how much money you have made

to make it succinct - no body believes you - you have a reputation as a notorious liar and general all round scumbag

I well know that the successful are not stupid enough to boast and I will follow their lead when it comes to my crypto holdings and investments

Originally Posted by Dragonfly

typical amateur MO

not talking about rick in particular,

though, i don't get this putting your finger in the air to decide whether a crypto has ended a down trend.

rather than analyzing charts.

or just being a passive trader: "cryptos could be in a down trend or an up trend, no way to know".

Originally Posted by baldrick

if you are going to have a go at some one , make it good and make it funny to the rest of us - otherwise you just look like a dick

when I pummel the butter fluffer I do try and make if humourous for the rest of you

this is you being funny?

Originally Posted by baldrick

you do not understand one whit of all this

Originally Posted by baldrick

no body believes you

Originally Posted by baldrick

you have a reputation as a notorious liar

Originally Posted by baldrick

scumbag

Anyone seen the bitcoin thread?

I want Dilly to tell me how little my portfolio is as it saves me totalling it up.

Originally Posted by Luigi

Anyone seen the bitcoin thread?

No.







Wanna come for a cruise in my new car??

Originally Posted by Luigi

Anyone seen the bitcoin thread?

i know that haven't seen much of albert's cyrpto/alt-coin fantasy thread.

oh, is that all.

thought it might be one of these.

Originally Posted by Farangrakthai

this is you being funny?

Originally Posted by baldrick

to make it succinct - no body believes you - you have a reputation as a notorious liar and general all round scumbag

I was not being funny there , except in an ironic way , as the belgian butter fluffer does not really have a grasp of the subtleties and intricacies of the english language

fair enough, rick.

back to btc, here's an article that looks at the bullish and bearish cases for btc:

https://www.forbes.com/sites/panosmo.../#1db7dbbe2a19

Where's Bitcoin Price Heading Next -- $1K Or $30K?

and this was quoted in the article, regarding estimating the fundamental value of btc:

https://www.marketwatch.com/story/wh...lue-2017-09-15

Viewing bitcoin as a currency makes it possible, at least in theory, to come up with a long-term exchange rate by using the quantity theory of money. The formula is: MV = PT, where money supply multiplied by its velocity equals the price level multiplied by the transaction volume.


Since both price and transaction volume is expressed in U.S. dollars, the price of bitcoin would be 1/BTCUSD, Davies said.


In this case, bitcoin’s supply is fixed at 21 million and money velocity for normal currencies is usually at around 10, according to Davies. So, the long-term fundamental value of bitcoin equals the long-term value of transactions that will be carried out in bitcoin divided by 210 million (21 million bitcoins multiplied by velocity).


The hardest value to plug into this formula is the transaction volume. If, for example, bitcoin was used primarily for global trade in illicit drugs, the figure would be around $120 billion, which is an estimate the U.N. used in 2014.


“I used that number a few years ago, but we would have to come up with a different estimate, as bitcoin is clearly used for things other than illicit drugs now,” Davies said.


Davies declined to offer an updated number, saying he needed to do more research.


But doubling that transaction volume number to $240 billion, for example, and dividing by 210 million produces a value of $1,142.