(04-21-2017 12:17 AM)Armogan Wrote:  

(04-20-2017 11:56 PM)JayJuanGee Wrote:  Difficult to consider you as a possible objective source of information when you are referring to "bitfagnex."

In the latest post from Bitfinex


https://www.bitfinex.com/posts

they assert: "We want to be absolutely clear here that Bitfinex is solvent. "

It was a typo. Good catch.

I wouldn't believe anything from the person in the hot seat. Does a murderer get acquitted when he says "I didn't kill my wife" on the stand? No.

https://m.youtube.com/watch?v=-dY77j6uBHI

Just curious did anyone vote for Hillary?

I just gotta say "typo" hahahahahahaha.. fair enough.

(04-21-2017 12:17 AM)Armogan Wrote:  $80+ spreads speak for themselves.

They don't really speak for themselves. I mean, first we had the chinese exchanges that tended to be a few percentage points higher than the western exchanges and then we had the chinese exchanges more than 10% lower than the western exchanges. After the disparities exist for a considerable time, they receive various plausible explanations.

This Bitfinex disparity is only about a week long phenomenon, and sure in the very beginning there was quite a bit more uncertainty about the cause and even difficulties identifying the existence of such. With the passage of time, the explanations converge and also the evidence of the actual disparity becomes more clear as to when it started and whether it is growing or shrinking.

Most of these kinds of situations are obvious, even though now it is becoming more clear that the freezing of fiat deposits was an initial start of the perception of a "problem" yet there still seems to be disagreement regarding the severity of the ability to withdraw fiat and what kinds of fiat. The information continues to be mixed and the conclusions about whether there is maliciousness is not a static set of facts.. and even we can witness variance in perception of these fact (or the importance of the facts that are known and not controverted - to the extent there ever is such a thing within a moving target).

A bit more than 6 hours before today's daily candle closes, and I continue to be AMAZED.

The last three days of daily price averages have fallen in the top 20 category, and yesterday was at 10, coming in at $1,222.57...

And, with 6 hours to go, we cannot count today as any kind of "done deal" because anything could happen...

biting nails.

decent ongoing buying support seems to be the current punchline.

As I keep saying (maybe broken record meme here could be good... hahahaha), I would really not mind getting some kind of meaningful correction, even to $1,000 or so..... in order that I could stock up some more - even though I have enough BTC, but currently, it does not seem to be looking like any of us should reasonably be relying on anything below $1,200 because it is possible that any of us could get left behind at the train station, if we have our hopes up too much and if we do not take some kind of stake in the game...

Ever since about $600 (which would have been around August 2016), I have been keeping on thinking that this thing cannot keep going up and up and up and without any kind of meaningful correction, and despite my ongoing anticipations that we are going to have a correction, the price keeps going up and up and up...

Furthermore, since $600 we have experienced a couple pretty decent corrections (the first down to $750 and the second down to $890 - and then the bitcoin is deaders came in to tell us to sell.. ), so we do not necessarily need more significant corrections in order for prices to continue to go UP and UP and UP....

Like they say, when we are in a bull market, buy the dips... and it seems that we have been in this bull market since about late 2015 (with prices then in the mid-$200s) and there is no real indication that such bull market is either stopping or reversing.. in spite of various whiners, various bitcoin is deaders, various alt coin pumpers and various other bitcoin nay sayers.

Surely, I am making a current observation (with prices currently bouncing in the $1235 to $1250 territory) and there are no guarantees, but continuing to look decent in spite of some lopsidedness including the possible shenanigans with the Bitfinex situation and the bitcoin is forking FUDsters.

(04-20-2017 02:58 PM)JayJuanGee Wrote:  The linked article has a decent discussion of the Litecoin segwit activation situation - kind of bordering on the 75% activation threshold and considerations in the article that intentional sabotage may be taking place... which partially explains the recent litecoin hashrate increase.


https://www.reddit.com/r/Bitcoin/comment...reventing/

In bitcoin, segwit signaling seems to be maintaining the low 30% arena... so seems quite a ways from activation in the bitcoin scene.


The more interesting phenomenon in the bitcoin space seems to be the considerably great spread between prices on different exchanges.. and not going away and continuing upwards buying pressure... which seems to provide a suggestion that some kind of price correction must be on its way (whether that price correction is up or down, is still unclear - though I am kind of becoming more receptive to down - even though it is no where close to any kind of done deal).

This below linked article is a kind of status update to my earlier above post (and supplemental).


http://www.coindesk.com/litecoin-miners-...n-upgrade/

This may explain litecoin's additional upsurge from yesterday, about 15%..... and yeah of course these segwit developments in litecoin could affect seg wit consideration matters on bitcoin... litecoin as a testing station?

By the way, yesterday, I did decide to withdraw about 70% of my bitcoins from Bitfinex, which is about 40% of the value of all of my funds on that account..

There after, my Bitfinex crypto related holdings are now about 9% of my total crypto related holdings. but still more than 1/3 of my total USD...

My dollar situation on Bitfinex is a bit strange, and I guess my dollar situation contributes to some of my worry and some of my concerns about how this whole Bitfinex situation is playing out and even the current Bitfinex situation might be somehow related to their August 2016 "hack" and how they chose to deal with the payouts and the claims to "solvency."

In August 2016, about 36% of my value on Bitfinex was socialized into BFX tokens, and over about 7 months those BFX tokens were slowly reimbursed.. maybe around 10% of them were reimbursed into dollars, even though bitcoin prices doubled. So, yeah there ended up being opportunity costs to have value tied up in BFX tokens, but then April 3, Bitfinex reimbursed 100% of all the outstanding BFX tokens, which caused my account to have a larger percentage of dollars on the account.

Thereafter, when the bank account drama developed and therefore BTC price disparities, it became less feasible to buy bitcoins with dollars on Bitfinex because the price of bitcoins on Bitfinex turned into about a 5-8% premium.

so yeah, there could be some personal motivations in terms of my concerns about the disparities that are ongoing in regards to bitfinex, and even my assessment about the extent to which there are possible Bitfinex shenanigans, which seems more plausible the longer the price disparity continues.

By the way, my yesterday withdraw of BTC went through pretty quickly (like 24 minutes).. .. but the fee that I paid was not customizable and it was much higher than what I am used to paying. These days, I usually customize my transaction fees to pay around $.15 to $.25 per transaction, and the Bitfinex fee was a bit over $1... I don't know if they skim some of the fee or if that higher quantity of fee causes the transaction to be guaranteed to go through more quickly.

(04-21-2017 12:48 PM)JayJuanGee Wrote:  A bit more than 6 hours before today's daily candle closes, and I continue to be AMAZED.

The last three days of daily price averages have fallen in the top 20 category, and yesterday was at 10, coming in at $1,222.57...

And, with 6 hours to go, we cannot count today as any kind of "done deal" because anything could happen...

biting nails.

decent ongoing buying support seems to be the current punchline.

As I keep saying (maybe broken record meme here could be good... hahahaha), I would really not mind getting some kind of meaningful correction, even to $1,000 or so..... in order that I could stock up some more - even though I have enough BTC, but currently, it does not seem to be looking like any of us should reasonably be relying on anything below $1,200 because it is possible that any of us could get left behind at the train station, if we have our hopes up too much and if we do not take some kind of stake in the game...

Ever since about $600 (which would have been around August 2016), I have been keeping on thinking that this thing cannot keep going up and up and up and without any kind of meaningful correction, and despite my ongoing anticipations that we are going to have a correction, the price keeps going up and up and up...

Furthermore, since $600 we have experienced a couple pretty decent corrections (the first down to $750 and the second down to $890 - and then the bitcoin is deaders came in to tell us to sell.. ), so we do not necessarily need more significant corrections in order for prices to continue to go UP and UP and UP....

Like they say, when we are in a bull market, buy the dips... and it seems that we have been in this bull market since about late 2015 (with prices then in the mid-$200s) and there is no real indication that such bull market is either stopping or reversing.. in spite of various whiners, various bitcoin is deaders, various alt coin pumpers and various other bitcoin nay sayers.

Surely, I am making a current observation (with prices currently bouncing in the $1235 to $1250 territory) and there are no guarantees, but continuing to look decent in spite of some lopsidedness including the possible shenanigans with the Bitfinex situation and the bitcoin is forking FUDsters.

Today closed at # 8 - that is $1,241.65 - my gosh...

https://bitcointalk.org/index.php?topic=...sg18689717

Sure, daily weighted average prices are not as exciting as a spike or a pump, but seems to me that some kind of slow motion rocket is happening.

Maybe we call it a train rather than a rocket - a slow moving and progressive upwards movement.. ?

What do we call it, I don't know - but I don't think that we should be quibbling about the fact that we are UP and we are really UP.. and this is as close to UP as we can reasonably expect, no? 8th place ATH at today's closing candle.. that is UP, and.....

What is the appropriate image for such a situation?

I would also consider ethereum as well. The price for 1 ether is around 50 US Dollars. Potentially that could be a much better investment than Bitcoin since it has interest from a lot of parties. Furthermore, it would not hurt for people to consider building mining rigs to obtain ethereum.

(04-22-2017 11:44 AM)PharaohRa Wrote:  I would also consider ethereum as well. The price for 1 ether is around 50 US Dollars. Potentially that could be a much better investment than Bitcoin since it has interest from a lot of parties. Furthermore, it would not hurt for people to consider building mining rigs to obtain ethereum.

Since this is the bitcoin thread, what are you suggesting in regards to bitcoin investing? Are you saying don't buy any bitcoin, or buy a small percentage in bitcoin or what kind of allocation in regards to bitcoin and ethereum? How about other cryptos?

Are you suggesting the same for guys that are new to crypto, or something different if a guy already has some cryptos? I understand that question may be a bit argumentative - because any of us know that if you have built some equity in one or more coins, your thought process about risk and allocation may play out a bit differently from someone who is in the early stages of building coins.

Further, isn't mining a bit complicated? How much processing power do you need to mine Ethereum? wouldn't it be better just to buy some at $50 rather than setting up a whole complicated mining apparatus?

Have you done some of these things, yourself? or are you in the consideration stages - and just getting started?

What did your personal bitfx withdrawal story have to do with the larger group and BTC overall?

ETH is solid and will continue to rise, it's about to pop off, calling it now.

I wouldn't buy a mining rig for ETH as they are moving to proof of stake, essentially eliminating mining altogether. When that happens it will be over $100 easy.

(04-22-2017 12:36 PM)Armogan Wrote:  What did your personal bitfx withdrawal story have to do with the larger group and BTC overall?

Well, it is a story that kind of reflects some of my personal choices in terms of changing some of my risk allocations in regards to Bitfinex and some of my thinking about Bitfinex. It surely is a bitcoin related story and application of relevant current events in bitcoin.

Are you thinking that my story is too anecdotal? or that it does not have some bitcoin component?

I'm having a little bit of trouble understanding what kind of issue or concern you may have with the substance of such a post?

(04-22-2017 12:36 PM)Armogan Wrote:  ETH is solid and will continue to rise, it's about to pop off, calling it now.

I don't know how you could have much of any clue about these kinds of matters... but you could be correct.

So, if you are more inclined to think that there is going to be a certain amount of upwards price movement, how are you suppose to prepare for such?

Are you recommending that guys take a decent stake in ETH at these price poinst in order to prepare?

Let's say for example, I don't own any crypto and I have $3.2k that I have that I can invest in crypto, and I have already dedicated those funds towards crypto. I have $2k available now and the other $1.2k will come available to me through my cash flow in the coming 6 months (about $200 per month). How would you suggest that I invest that money starting today and what would be my tentative plan for the next 6 months?

(04-22-2017 12:36 PM)Armogan Wrote:  I wouldn't buy a mining rig for ETH as they are moving to proof of stake, essentially eliminating mining altogether. When that happens it will be over $100 easy.

I think I understand your point. Currently ETH is proof of work, maybe in the next year (or less) they are supposedly going to switch to proof of stake, which eliminates mining. Even if we do not know any kind of exact timing for switch from POW to POS, that could be enough of a disincentive to invest in ETH mining....

JayJuanGee, the reason why I brought up ethereum is that I see it as a good alternative to Bitcoin (and potentially better). Bitcoin right now is around 1200 and it's appeal to many is that it is deflationary due to the limited supply that will ever exist. With how cryptocurrency is evolving, Bitcoin itself may be viewed as a mature product with little room to grow. Ethereum is still in the early stages and has room to grow since the big boys (i.e. the bankers) have started to embrace the technology behind it.

Now with respect to mining,
1) For the supposed PoW to PoS move, they have mentioned that event ever since 2016. The planned move from Proof of Work to Proof of Service was the talk around the circut but to my knowledge, it has not been done yet and should be viewed as mere speculation until there is definitive proof of a timetable.
2) With respect to mining, I have recently started on a project to determine the profitability of mining. Right now, I have 2 rigs and plan to move to 4 in the next few weeks. My cost per rig is around 2200 to 2300 and even with potentially paying 500 dollars a year for electricity, I can expect to make some profit with ETH at 50 (at least 50 to 100% return in the 1st year). Also, you have to account for the lifespan of the rig and the frequency of replacing some of the parts. However, mining may not be for everyone since it requires some technical knowledge in computers and computing systems (ethos is recommended for mining as well as joining a pool to get your feet wet).

Overall, any decision should be based on your risk tolerance, time commitment and opportunity cost. If you have spare time and are willing to get your hands dirty, take a shot at building a few rigs and mine ethereum. I recommend the site http://www.cryptocompare.com or the ethereum forums on reddit and the ethereum website as a springboard. However, if the costs are not worth it due to the commitment required, you are better off getting an ethereum wallet at MyEtherWallet.com, opening an account at Kraken or Poloniex or Coinbase if you live in an area where you cannot speculate on cryptocurrency and buy coins the same way you buy stocks via an online exchange.

My 2 cents.

(04-22-2017 07:55 PM)PharaohRa Wrote:  JayJuanGee, the reason why I brought up ethereum is that I see it as a good alternative to Bitcoin (and potentially better).

Which rationale that you are describing seems to fall almost exactly into the theme of the alternative to bitcoin thread, no?

https://www.rooshvforum.com/thread-32992.html

(04-22-2017 07:55 PM)PharaohRa Wrote:  Bitcoin right now is around 1200 and it's appeal to many is that it is deflationary due to the limited supply that will ever exist. With how cryptocurrency is evolving, Bitcoin itself may be viewed as a mature product with little room to grow.

Yep. These seem to be the frequent talking points of various alt coin pumpers (including the ethereum pumpers for more than a year now) to suggest that bitcoin is mature and you may have better opportunities with some other alt coins, like ethereum.

I doubt that such premise of "bitcoin is mature" is very well founded, but I do understand that some folks may want to hedge their bets, whether that is ethereum or some other coins.

To me, it does not sound like you are hedging your bets, but instead you are going bigger or "all in" to ethereum, but you did not say anything about the extent to which you are investing in bitcoin, if at all, except to describe bitcoin as arguably "mature."

Same question. What kind of position are you suggesting in regards to bitcoin? hold it, sell it, short it, hold only a small part? how much if any should you hold, sell or short?

Remember what thread we are in?

This is not the "just happens to be almost like bitcoin, let's pump another coin thread." Is it?

(04-22-2017 07:55 PM)PharaohRa Wrote:  Ethereum is still in the early stages and has room to grow since the big boys (i.e. the bankers) have started to embrace the technology behind it.

I'll admit that there is quite a bit of press about some of this supposed mainstream adoption of ethereum.. yes those are talking points of ethereum, which surely could cause some continued and ongoing pumping of Ethereum... and ethereum could 10x or 20x... And it could also go to zero. There are also some incentives for various mainstream institutions to attempt to prop up ethereum and some of the other crap coins in order to engage in various kinds of passive aggressive attacks on bitcoin.. Yep... sad but a seemingly ongoing theme...

(04-22-2017 07:55 PM)PharaohRa Wrote:  Now with respect to mining,
1) For the supposed PoW to PoS move, they have mentioned that event ever since 2016. The planned move from Proof of Work to Proof of Service was the talk around the circut but to my knowledge, it has not been done yet and should be viewed as mere speculation until there is definitive proof of a timetable.
2) With respect to mining, I have recently started on a project to determine the profitability of mining. Right now, I have 2 rigs and plan to move to 4 in the next few weeks. My cost per rig is around 2200 to 2300 and even with potentially paying 500 dollars a year for electricity, I can expect to make some profit with ETH at 50 (at least 50 to 100% return in the 1st year). Also, you have to account for the lifespan of the rig and the frequency of replacing some of the parts. However, mining may not be for everyone since it requires some technical knowledge in computers and computing systems (ethos is recommended for mining as well as joining a pool to get your feet wet).

This mining of ethereum topic seems to have almost no connection to bitcoin except to maybe suggest that mining in Ethereum might have some more potential for profiting as compared with the mining of bitcoin because you can probably get into it with less hashing power than you would need for bitcoin... therefore there are arguably more potential for profits in mining ethereum if Ethereum can either hold it's price within 50% of current prices... which any of these would be gambles, and surely some guys (not me) may consider getting into mining to be decent gambles (as you are describing in weighing costs and benefits and risks)

(04-22-2017 07:55 PM)PharaohRa Wrote:  Overall, any decision should be based on your risk tolerance, time commitment and opportunity cost. If you have spare time and are willing to get your hands dirty, take a shot at building a few rigs and mine ethereum. I recommend the site http://www.cryptocompare.com or the ethereum forums on reddit and the ethereum website as a springboard.

sure. yep some of those concepts can be applied in any investment, whether bitcoin or some other coin or some other investment... and yep you seem to have given some discussion of some of your considerations, but it does sound as if you are kind of in the earlier phases of setting up ethereum mining, so some of your discussion of ethereum mining seems somewhat preliminary projections based on what you are considering doing... which I am not sure why you want other guys to jump in to compete with you, if you do happen to invest in mining and begin to mine ethereum.

(04-22-2017 07:55 PM)PharaohRa Wrote:  However, if the costs are not worth it due to the commitment required, you are better off getting an ethereum wallet at MyEtherWallet.com, opening an account at Kraken or Poloniex or Coinbase if you live in an area where you cannot speculate on cryptocurrency and buy coins the same way you buy stocks via an online exchange.

My 2 cents.

You still have not discussed any ratios of allocation of cryptos. Are you suggesting 100% ethereum or do you have any other considerations of other possible coins - even some coins that might be related to the topic of this thread... ?

JayJuanGee

So, sticking to the topic of the thread, I will cover anything Bitcoin related:

Quote:Yep. These seem to be the talking points of various alt coin pumpers (including the ethereum pumper for more than a year now) to suggest that Bitcoin is mature and you may have better opportunities with some other alt coins like ethereum.

I doubt that such premise of "bitcoin is mature" is very well founded, but I do understand that some folks may want to hedge their bets, whether that is ethereum or some other coins.

To me, it does not sound like you are hedging your bets, but instead you are going bigger or "all in" to ethereum, but you did not say anything about the extent to which you are investing in bitcoin, if at all, except to describe bitcoin as arguably "mature"

Same question. What position are you suggesting in regards to bitcoin? hold it, sell it, short ot, hold only a small part? how much if any should you hold, sell, or short?

Remember what thread we are in?

This is not the "just happens to be almost like bitcoin, let's pump another coin thread." Is it?

I will clarify this point. I would hold bitcoin, only because in my opinion, it is viewed as a useful store of value from an electronic POV for the time being, akin to gold. As to how much you should hold, treat bitcoin as you would treat any reserve source, hold enough where if you had to treat it as an emergency reserve you could live off of it for a defined time period (months to a year)

Quote:You still have not discussed any ratios of allocation of cryptos. Are you suggesting 100% ethereum or do you have any other consideration of other possible coins - even some coins that might be related to the topic of this thread... ?

Viewing this from a speculative point of view, and given a position (and my bias towards ethereum) I would allocate at least 50% Ethereum, with the remainder of equal allocation (12.5% allocation) towards ZCash, Dash, Monero and yes, even some Bitcoin. My reasoning for the heavy ethereum allocation is linked to what I stated in prior posts and shown in links below. As for my other selections, ZCash, Dash and Monero have received some attention in the crypto world due to their blockchain concepts being given further scrutiny. As for bitcoin, I stated my view above, it is seen as a good store of value and even though I think it has "matured" where you have a different view.

Some of my ethereum views are obtained from the links below:
http://www.zerohedge.com/news/2017-02-27...n-alliance
https://www.ethnews.com/the-banking-indu...blockchain
http://fortune.com/2017/02/28/ethereum-j...-alliance/

Also, the opinion above is my opinion and of course, DD is always needed before engaging in any action.

Furthermore, let me clarify why I think bitcoin is "mature":
1) From a mining POV, only major miners can mine it making a profit
2) Alot of people have heard about bitcoin already and it is somewhat mainstream. There are a lot of apps out there that can use bitcoin for payment
3) It is too recognizable to too many people
4) It is viewed as a good store of electronic value

Also, I noticed that you have a bias towards bitcoin when you mentioned about the release of alt coins as a "passive-aggressive" attack over bitcoin. Why is that?

(04-23-2017 08:56 AM)PharaohRa Wrote:  JayJuanGee

So, sticking to the topic of the thread, I will cover anything Bitcoin related:

I, personally, think that it would be great if you could attempt to stick to the topic of the thread - as a kind of courtesy to everyone - although some guys think that the title of the thread should be changed to involve all cryptos... in the meantime, the title of thread has not yet been changed.

(04-23-2017 08:56 AM)PharaohRa Wrote:  I will clarify this point. I would hold bitcoin, only because in my opinion, it is viewed as a useful store of value from an electronic POV for the time being, akin to gold. As to how much you should hold, treat bitcoin as you would treat any reserve source, hold enough where if you had to treat it as an emergency reserve you could live off of it for a defined time period (months to a year)

I think that if you are talking about various use cases for bitcoin and what bitcoin is, those may well be different things because different people are going to find different values for bitcoin in part based on their own circumstances and what financial options they have available.

I certainly don't feel knowelgeable enough to attempt to really capture bitcoin in a slogan or even to know all of its present or future use cases, yet I do frequently attempt to describe bitcoin as a secure decentralized and immutable way to store and transfer value, and currently there are no other coins that are really at its level, even though some are attempting to imitate bitcoin, compete with bitcoin or to attempt to provide use cases outside of bitcoin... and there is nothing wrong with having a world with these kinds of multi-faceted activities going on.

(04-23-2017 08:56 AM)PharaohRa Wrote:  Viewing this from a speculative point of view, and given a position (and my bias towards ethereum) I would allocate at least 50% Ethereum, with the remainder of equal allocation (12.5% allocation) towards ZCash, Dash, Monero and yes, even some Bitcoin. My reasoning for the heavy ethereum allocation is linked to what I stated in prior posts and shown in links below. As for my other selections, ZCash, Dash and Monero have received some attention in the crypto world due to their blockchain concepts being given further scrutiny. As for bitcoin, I stated my view above, it is seen as a good store of value and even though I think it has "matured" where you have a different view.

Fair enough and thanks for some specifics. Surely, I would not expect every guy to agree about specific allocations; however, sometimes we can discuss our allocations and get some ideas about the other guy's perspective - which I would also expect to change over time since both the bitcoin space and the crypto space is quite dynamic and I would argue that the alt cryptos add a considerable dimension in complexity of things to keep track off. Bitcoin is complex enough in itself, but the more investments that you have in various alts, the more you are likely going to need to monitor your allocations and make sure that you are staying on top of them...

(04-23-2017 08:56 AM)PharaohRa Wrote:  Some of my ethereum views are obtained from the links below:
http://www.zerohedge.com/news/2017-02-27...n-alliance
https://www.ethnews.com/the-banking-indu...blockchain
http://fortune.com/2017/02/28/ethereum-j...-alliance/

Also, the opinion above is my opinion and of course, DD is always needed before engaging in any action.

What's DD?

(04-23-2017 08:56 AM)PharaohRa Wrote:  Furthermore, let me clarify why I think bitcoin is "mature":
1) From a mining POV, only major miners can mine it making a profit

True. A lot of dollars have been put into bitcoin mining in the past 8+ years, so that is part of the explanation why regular joe blow has likely been priced out of bitcoin mining. But that still does not make bitcoin mature... because there is a whole hell of a lot development going on in bitcoin and even controversy in mining circles... which causes me to think that the more decentralized a platform, the longer it is going to take to mature.

(04-23-2017 08:56 AM)PharaohRa Wrote:  2) Alot of people have heard about bitcoin already and it is somewhat mainstream.

You really think so? There is probably less than .1% of the world who have actually bought any bitcoin, and some locations have more awareness.

Sure some folks have heard of bitcoin, but they might not have bought any. There is a long way to go before there is any kind of meaningful level of mass adoption.

(04-23-2017 08:56 AM)PharaohRa Wrote:  There are a lot of apps out there that can use bitcoin for payment

bitcoin still looking for a lot of "killer apps" and a major complaint remains about some of the complications of the space, including the complications of figuring out how to use bitcoin, especially the more that you might rely on a more personalized banking. Different people use different systems that seem to be constantly evolving and filled with complications and confusions (even for experienced users who try different things and do not attempt to oversimplify the various situations that exist).

(04-23-2017 08:56 AM)PharaohRa Wrote:  3) It is too recognizable to too many people

This point makes little sense because even if people recognize bitcoin, that does not really mean that they know what it does or what it can do. I been into bitcoin for more than 3 years, and I still struggle on a regular basis about bitcoin's capabilities, use cases, branding etc.

Maybe some of this recognition can be something that new coins try to exploit in order to spin bullshit about their supposed new and improved coin.. ? Bitcoin 2.0.. blah blah blah.

(04-23-2017 08:56 AM)PharaohRa Wrote:  4) It is viewed as a good store of electronic value

decent store of value as long as it keeps its price and you don't get hacked. Still pretty new in the storage of value space.

(04-23-2017 08:56 AM)PharaohRa Wrote:  Also, I noticed that you have a bias towards bitcoin when you mentioned about the release of alt coins as a "passive-aggressive" attack over bitcoin. Why is that?

It is not a bias. I am making observations about things that are going on in the world in relation to bitcoin. The level of the importance of the observation and the level of the actual activity is going to vary. Of course there is decent evidence that some of the involvement that traditional financial institutions or traditional companies in some alt or some private blockchain is a means to undermine bitcoin. All of this can be going on in varying degrees, and in the long run, it may not matter too much because all of these spaces are going to evolve with the passage of time, ongoing development, ongoing awareness, the discovery of some scams, the making and losing of money, and even changes in prices and market caps over time.

On a completely unrelated not, Aspergers is a terrible tragedy of a disease that strikes down our young men.

I say that in the Bitcoin thread, since it's a very Sperg friendly thing.

Apparently, Roosh only taking bitcoin at this time for payment methods.

Bullish?


1) OP to Gold membership thread.


2) Roosh clarification of current payment status.

(04-23-2017 03:18 PM)Malone Wrote:  On a completely unrelated not, Aspergers is a terrible tragedy of a disease that strikes down our young men.

I say that in the Bitcoin thread, since it's a very Sperg friendly thing.

Maybe your post, here, says more about you than about any other factual matter?

Further about a month ago, you posted in this thread, a question kind of related to bitcoin. I responded to your post.. but apparently, you were not able to muster up any further bitcoin related content?

(04-22-2017 10:18 PM)JayJuanGee Wrote:  

(04-22-2017 07:55 PM)PharaohRa Wrote:  Bitcoin right now is around 1200 and it's appeal to many is that it is deflationary due to the limited supply that will ever exist. With how cryptocurrency is evolving, Bitcoin itself may be viewed as a mature product with little room to grow.

Yep. These seem to be the frequent talking points of various alt coin pumpers (including the ethereum pumpers for more than a year now) to suggest that bitcoin is mature and you may have better opportunities with some other alt coins, like ethereum.

I was debating about whether to put the below-linked video in the alt coins thread or this thread.

It's only a 7-minute video; however, it's framing attempts to talk about crypto-currencies generally, and to assert that times have changed - bitcoin is not as dominant - and various other crypto currencies are significant contributors to our current all time high crypto market cap and implying that bitcoin's "problems" are contributing to it's losing space.

https://www.reddit.com/r/Bitcoin/comment...rong_bull/

Even though I consider these as non-sense points regarding the denigration of bitcoin, I still think that it is good to show how discussion is taking place in the space and the overall facts may be in agreement, yet some of the conclusions drawn from the facts in agreement can have a considerable amount of variance.

Note the kind of contradiction in the point about bitcoin being in such "problematic" space right now because of it's internal controversies and battles - yet bitcoin continues to have top 50 price performances and really top 10 performances in the past several days.

With such "problems" how the fuck is it's price performance remaining so high?

Anyhow, we are certainly in interesting times with a lot of money coming into crypto including other cryptos and there seem to be real desires to pump the various other cryptos - and like others say in this thread, let's see where we are at in 6 months to a year or even 2 years.

The below video interview with Eric Lombrozo is about 1 hour.


https://www.reddit.com/r/Bitcoin/comment...n_youtube/

Eric tends to have good ways of expressing bitcoin processes, tradeoffs, risks, clarifying myths, including having good technical understandings of scaling, segregated witness, soft forks versus hardforks including user activated softfork (UASF), actual testing of bitcoin and the coding involved with such.

Towards the end of the video, Eric also discusses how bitcoin's design may not have been very well accounted for politics, and therefore, some of the current bitcoin software developments try to consider political dynamics and in order to possibly figure out ways that bitcoin could better account for politics while still being able to upgrade bitcoin's protocols.

Overall, Eric expresses that political battles are likely more intense and more present as a system gains value (especially an open source system), and in the end, he anticipates a real world phenomenon that bitcoin's value is going to continue to increase, and therefore it seems quite likely that political battles are going to get stronger in their intensity rather than going away or diminishing.

So, it seems that those people who want to invest in something that is without political intensity and battles (maybe some centralized systems), for their own sanity, they likely need to stay away from bitcoin.

There's been a lot of discussion around whether alt-coins should or should not be discussed in this thread independent of Bitcoin, to the point that it's derailing the thread.

So, shall we put it to a vote?

If I read prior posts in this thread accurately, we currently stand at 6-2 in favor of alt-coin discussion taking place independent of bitcoin: Yea (6) - Satoshi, SunW, Armogan, Skank Hunt, Stun, Issac Jordan, and Nay (2) JJG and zoom. Would anyone like to add their tally to the vote, and do we need to open a separate 'vote' thread?

(04-21-2017 01:02 PM)JayJuanGee Wrote:  

(04-20-2017 02:58 PM)JayJuanGee Wrote:  The linked article has a decent discussion of the Litecoin segwit activation situation - kind of bordering on the 75% activation threshold and considerations in the article that intentional sabotage may be taking place... which partially explains the recent litecoin hashrate increase.


https://www.reddit.com/r/Bitcoin/comment...reventing/

In bitcoin, segwit signaling seems to be maintaining the low 30% arena... so seems quite a ways from activation in the bitcoin scene.


The more interesting phenomenon in the bitcoin space seems to be the considerably great spread between prices on different exchanges.. and not going away and continuing upwards buying pressure... which seems to provide a suggestion that some kind of price correction must be on its way (whether that price correction is up or down, is still unclear - though I am kind of becoming more receptive to down - even though it is no where close to any kind of done deal).

This below linked article is a kind of status update to my earlier above post (and supplemental).


http://www.coindesk.com/litecoin-miners-...n-upgrade/

This may explain litecoin's additional upsurge from yesterday, about 15%..... and yeah of course these segwit developments in litecoin could affect seg wit consideration matters on bitcoin... litecoin as a testing station?

Here's a link to another thread to supplement my earlier posts regarding the seg wit activation on litecoin and how that activation relates to seg wit possibilities on bitcoin.

https://bitcointalk.org/index.php?topic=1885038.0

To offset some of my more recent neutral postings, I thought that maybe I could post a more bullish price analysis - especially since we have been experiencing onward, ongoing and upwards price pressures - in that regard, just broke through $1,252.50, which would be about a 6 week highpoint.

https://www.reddit.com/r/Bitcoin/comment...realistic/

Vote Yes for Alt-coins. Crypto is still such a narrow subject compared to the size of this forum. that it suits to keep it in one thread.

(04-24-2017 02:54 PM)Stun Wrote:  There's been a lot of discussion around whether alt-coins should or should not be discussed in this thread independent of Bitcoin, to the point that it's derailing the thread.

So, shall we put it to a vote?

If I read prior posts in this thread accurately, we currently stand at 6-2 in favor of alt-coin discussion taking place independent of bitcoin: Yea (6) - Satoshi, SunW, Armogan, Skank Hunt, Stun, Issac Jordan, and Nay (2) JJG and zoom. Would anyone like to add their tally to the vote, and do we need to open a separate 'vote' thread?

I'm a nay. I'd rather see separate threads dedicated to BTC and alt-coins (or maybe, at this point at least, BTC, Ethereum, other).

We should vote on how long we need to keep the replies.

I'd say folks should use twice as many words as the person they are replying to use.

So if Timmy posted 50 words, Jimmy can use 100 max.

(04-24-2017 03:48 PM)Cattle Rustler Wrote:  We should vote on how long we need to keep the replies.

I'd say folks should use twice as many words as the person they are replying to use.

So if Timmy posted 50 words, Jimmy can use 100 max.

Genuine LOL worthy comment.

I'm all for voting yes to talking about other cryptocurrencies especially since the OP weighed in with a yes as well.