(06-15-2017 07:11 PM)Satoshi Wrote:  


this poster on bitcointalk couldn't take the pressure. poor kid.

Does your post signify that you have some kind of specific BTC price prediction?

There is one thing to actually invest and have some kind of stake, whether buying, holding or shorting, versus looking at what others are doing, no?

By now, many of us should realize that there is not any one good strategy, but some strategies might be better than others - however, the best strategies can be devised if you make them after the fact... hahahaha.

Where we going from here? in the next few days? In the coming six weeks? In the coming 6 months? Actually there are some folks who consider the matter in longer time frames, too 1 year to 5 years or even longer..

I'd agree with your post from yesterday that we probably are going to $1500. And I'd say that $1200 is likely too.

Perhaps up to test $3000 again. $3200 is possible but not likely and not more than that.

I like this chart: https://www.tradingview.com/chart/BTCUSD...O-BITCOIN/

Just speculating though don't take my thoughts too seriously. But I think this is way overbought right now. And some cheap coins would be nice.

(06-15-2017 07:32 PM)Satoshi Wrote:  I'd agree with your post from yesterday that we probably are going to $1500. And I'd say that $1200 is likely too.

Perhaps up to test $3000 again. $3200 is possible but not likely and not more than that.

I like this chart: https://www.tradingview.com/chart/BTCUSD...O-BITCOIN/

Just speculating though don't take my thoughts too seriously. But I think this is way overbought right now. And some cheap coins would be nice.

So, perhaps you are a bit more bullish than I had expected.. hm, and maybe coming out of "fud dud" status. GREAT!! I won't count such blessing too soon, merely based on one post. hahaha

So, o.k. we likely agree that there are decent possibilities of another leg down, and I am not ruling out $1200 or below, but I am thinking that there would be pretty decent buying support between $1200 and $1800, so $1500 would be a fair and reasonable bottom.. .. and I would not even rule out some possibility of triple digits - even though I am thinking that there is pretty decent chances that bears would run out of ammunition far before that point, absent some devastating news or extraordinarily persuasive and effective FUD spreading.

I come to my conclusions based on normal correction and momentum changes, but I don't think that BTC is overbought, especially given continued adoption and developments.. but surely we can differ about those kinds of characterizations.

Yes, agreed decent chances of another test of $3k that goes as far as $3200. Sure, there could be some decent difficulties in surpassing $3200, but surely I am giving greater odds to the likelihood of up to $3600 and even into the $4k to $6k range - but maybe we can kind of be in agreement that based on uncertainties of August 1 and a variety of related issues around the August 1 questions, we could have several months of uncertainty and even lack of resolution that causes additional bear movements - yet still unclear whether such difficulties would lead to non-resolution or even knock bitcoin into a bear market...

So, maybe we are kind of agreeing on some of these matters, and really to me it becomes a bit too tangential to predict too far beyond the resolution of some matters and even accounting for some additional unknowns... so seeing how some of the matters play out - whether that is issues with bitcoin itself or watching how other coins might play out to further occupy some of the space could cause additional tweaking of longer term predictions...

(06-15-2017 04:42 PM)JayJuanGee Wrote:  There's gotta be some "holy fuck" about the BTC trade volume of the past 4 days, and with all of that dump, so far, the BTC price got only a bit more than 25% of a correction from top to bottom $2980 to $2135, approximately?

Sure, the dump might NOT be finished yet, but I am kind of getting the sense that the bears might be running out of coins to dump....

So? At least the second leg of a dump seems to be finished, and whether there is going to be a third dump leg is still to be determined.. 50/50?

The next ~48 hours are critical.

I am back to the oh gosh and the holy fuck feelings.

So I don't know what to say in terms of our current range.. maybe we are in the $2150 to $2450 territory - but we seem to be breaking up.. and the more we break up, the less likely that we are going to have the anticipated third leg of the down.

Actually, I am not going to call it, yet. I am too afraid.

I am going to assert that we have to break upwards through $2600 in order to be "safe" from the third downward leg of the correction... but I must say that even the current upwards is bringing me doubts about the possibility of another downward leg. There have been so fucking many coins dumped in the past four days, and this current upwards is trickling back up on relatively low volume which is causing me to tentatively speculate that bears might be running out of coins to dump, momentum to play upon, and people who are willing to follow them in dumping.

At the moment, as I type, it could be that we are kind of floating in a teeter totter place? "$2500, the current teeter totter"?

Looks like a microsoft employee chiming in to rebutt some decentralization Bitmain claims

https://twitter.com/csuwildcat/status/87...4626565120

I get the sense that Bitmain is going to come out of this as "foolish"

Here's an interesting article that discusses the top 5 languages in which bitcoin searches are accomplished through google.

https://themerkle.com/top-5-languages-dr...n-results/

Two bullish and informative articles:

1) Apparently HYCM is a pretty major player in the FOREX arena, and recently, it added BTC/USD pair, based on popular demand.

https://www.financemagnates.com/forex/br...nstrument/


2) India seems to be advancing in the bitcoin space with a certain amount of vigor,

https://cointelegraph.com/news/cointeleg...d2db95fjpg

(06-15-2017 04:20 PM)JayJuanGee Wrote:  There are so many confusing discussion out there about conflicting proposals and various scenarios that can play out in regards to UASF and segwit2x and even the bitmain hardfork.

This thread attempts to clarify possible compatibility between UASF and segwit2x - and to suggest that a hardfork would be down the road, and possibly not even triggered..

Who knows? Spinned optimism or what?

https://www.reddit.com/r/Bitcoin/comment...8/dixr59j/

Here's another thread on the segwit2x - and bip148 - combination issue.

Even though there are attempts to describe likely paths forward - and even to suggest ways that this matter could be resolved with a kind of activation of segwit first and than perhaps a hardfork down the road. Even with this explanation of possible paths forward, it does not really provide too much additional certainty regarding how this matter is likely to unfold.

https://www.reddit.com/r/Bitcoin/comment...d_bip_148/

So even though a segwit first seems to be acceptable by a large majority of users, there remains ongoing obstructionists that continue to attempt to derail any kind of possible progress in that direction.

Just saying hi since there are six posts all in a row from you. Now you're quoting yourself.

Up? Down? Where we going?

(06-16-2017 05:38 PM)Armogan Wrote:  Just saying hi since there are six posts all in a row from you. Now you're quoting yourself.

Up? Down? Where we going?

Just saying hi back.


A few days ago, when we started getting the correction, I thought that it was pretty likely to get three legs of a correction, especially after seeing how intense the correction was unfolding.

So, yeah, we seem to have gone through the first two legs, but then the recovery from the second leg has been a bit stronger than expected, so I am kind of teetering on whether there is going to be a third correction leg. If there is a third correction leg, then it could go down into the $1500 territory or lower, possibly short-lived spikes as low as sub $1k....

Maybe the current price range is somewhere between $2,300 and $2,600. If we break below $2,300 then we are likely going down, and I expect considerable buying support at various levels before reaching $1,500 - so getting to that kind of low price level in a third leg is no where near certain.

On tyhe other hand, if we break uppity (as they say... hahahahaha... I mean me), that is breaking above $2600, then there is going to be another test of $3k, and breaking through $3k should bring us into the $3,300 to $3,600 territory.

Of course, we are in a kind of moving dynamic situation, so at the moment, difficult to place any kind of exact numbers on these estimates, and within the price range, and am personally still teetering.. maybe just slightly starting to lean more towards the upside - even though yesterday, I was leaning more towards the downside (meaning one more correction leg).

I know that the formula in attempting to predict bitcoin becomes a bit more complex when we account for the price movements of ETH and some of the various alts, so on the margins, price movements in the various alts could affect my consideration regarding what is possible or probable in terms of BTC.

You got something that you want to add or correct me on? And, hi again.

(06-16-2017 06:13 PM)JayJuanGee Wrote:  

(06-16-2017 05:38 PM)Armogan Wrote:  Just saying hi since there are six posts all in a row from you. Now you're quoting yourself.

Up? Down? Where we going?

Just saying hi back.


A few days ago, when we started getting the correction, I thought that it was pretty likely to get three legs of a correction, especially after seeing how intense the correction was unfolding.

So, yeah, we seem to have gone through the first two legs, but then the recovery from the second leg has been a bit stronger than expected, so I am kind of teetering on whether there is going to be a third correction leg. If there is a third correction leg, then it could go down into the $1500 territory or lower, possibly short-lived spikes as low as sub $1k....

Maybe the current price range is somewhere between $2,300 and $2,600. If we break below $2,300 then we are likely going down, and I expect considerable buying support at various levels before reaching $1,500 - so getting to that kind of low price level in a third leg is no where near certain.

On tyhe other hand, if we break uppity (as they say... hahahahaha... I mean me), that is breaking above $2600, then there is going to be another test of $3k, and breaking through $3k should bring us into the $3,300 to $3,600 territory.

Of course, we are in a kind of moving dynamic situation, so at the moment, difficult to place any kind of exact numbers on these estimates, and within the price range, and am personally still teetering.. maybe just slightly starting to lean more towards the upside - even though yesterday, I was leaning more towards the downside (meaning one more correction leg).

I know that the formula in attempting to predict bitcoin becomes a bit more complex when we account for the price movements of ETH and some of the various alts, so on the margins, price movements in the various alts could affect my consideration regarding what is possible or probable in terms of BTC.

You got something that you want to add or correct me on? And, hi again.

You have already posted these predictions several times, both in this thread and in the ethereum thread. Basically you are just repeating yourself.
Are you spamming to keep the bitcoin thread at the top? No one has reacted to any of your latest post and you are even quoting yourself. Perhaps no one finds your links interesting? Perhaps you could start a blog or something?

No. I think sub 1000 would be the most epic drop ever. I don't see it going down there for any extended period of time. I also see 3600 as an insane bull-run, again don't see that either.

Where do you get these arbitrary numbers from? Are you doing some technical analysis with support and resistance that could substantiate these? Or just a whim?

These parts are a bit lonely since everyone got relocated to the Cryptocurrency Ethereum thread.

(06-16-2017 06:33 PM)Satoshi Wrote:  

(06-16-2017 06:13 PM)JayJuanGee Wrote:  [edited out]

You have already posted these predictions several times, both in this thread and in the ethereum thread. Basically you are just repeating yourself.
Are you spamming to keep the bitcoin thread at the top? No one has reacted to any of your latest post and you are even quoting yourself. Perhaps no one finds your links interesting? Perhaps you could start a blog or something?

It seems that I was asked for a prediction in regards to BTC prices.

Whether that was meant as a serious presentation of questions, I gave an update to my earlier thinking, which is not exactly the same, but instead a bit of a tweak of my earlier thinking...

Wow!

I just found an old wallet with a few bitcoin on it i didnt knew i had.
Quite excited

trying to transfer they now, but it takes quite a long time compared to last time i did this.
Lets hope they arrive soon!

Edit: This does not go in this thread. Whoops.

(06-16-2017 06:48 PM)Armogan Wrote:  No. I think sub 1000 would be the most epic drop ever. I don't see it going down there for any extended period of time. I also see 3600 as an insane bull-run, again don't see that either.

Well, maybe we have similar thoughts, because I think that sub $1k would be a bit extreme, too, but I don't think that it would be the death of bitcoin, so it certainly is within the realm of reasonable but seemingly unlikely scenarios.

Think about it, we were at sub $1k just 10 weeks ago.. Sub-$1k is not that big of a stretch, even if it seems a bit less probable of a scenario.

Regarding $3,600 that is kind of the high end of the first resistance point if prices were to break above $3k. Whether it is easy or not could be a matter of giving varying weight to possible scenarios that could play out.

In that regard, it appears that I give a bit more weight to possible scenarios that could cause such a scenario to play out than you do.

(06-16-2017 06:48 PM)Armogan Wrote:  Where do you get these arbitrary numbers from?

Seems like we discussed this before, but what the heck? Maybe the numbers seem arbitrary to you, but they are attempts to give my best estimations of various scenarios, depending on whether I am responding to a question, responding to some article or just discussing what seems to be possible or probable.

(06-16-2017 06:48 PM)Armogan Wrote:  Are you doing some technical analysis with support and resistance that could substantiate these? Or just a whim?

Again, not really whim. Sometimes I look at some technical analysis or attempt to do some of my own, but my discussion of support and resistance is based on a variety of matters including previous price points, momentum, volume, news in the bitcoin space, news in the crypto space and varying overarching theories and views that I have developed in life and in bitcoin... In other words, I am just guessing.

(06-16-2017 06:48 PM)Armogan Wrote:  These parts are a bit lonely since everyone got relocated to the Cryptocurrency Ethereum thread.

Largely, this thread was pretty lonely between about late 2014 and late 2016, so relatively speaking, seems about average - and seemingly a bit more participation as compared with much of the time in 2015.

I understand that RVF guys have interest in making money, so that is one part of current crypto, including the ETH discussion and the discussion of alts and bitcoin. I actually thought that RVF guys would have been more drawn to bitcoin for other reasons, including that bitcoin seems to be more of a challenge to mainstream financial institutions and governments as compared with various alts that seem to have some quasi-centralized areas of failure, which could make them vulnerable to attack, manipulation and control by governments and financial institutions.

On the other hand, no matter the ideology or the fundamentals, I do understand and accept that there can be a decent amount of justifiable interest in attempting to figure out ways to get in and out of various assets (including what is going on in the ICO and alt crypto space) in order to make money off of that. Certainly I cannot fault guys for that, especially if they can figure out ways to brainstorm about such strategies, whether that is sharing in the public thread or even sometimes discussing some of their thinking in PMs - which several of us engage in both means of sharing our crypto thoughts, whether they have solid evidentiary and/or logical support or if they are merely hunches based on incomplete information and/or logic.

(06-16-2017 07:12 PM)pants Wrote:  Wow!

I just found an old wallet with a few bitcoin on it i didnt knew i had.
Quite excited

trying to transfer they now, but it takes quite a long time compared to last time i did this.
Lets hope they arrive soon!

I had this happen to me a few weeks ago, but I just found about .5BTC.. Congrats.

Bitcoin seems overvalued. There is no arguing this is it's third wave of mass popularity. Prices will go up an down for awhile. But after each wave there is a slow decline in value. It won't go down to what is was. But it won't stay in the thousands forever.

The problem is there still hasn't been much adoption. I know I know. Some more retailers are adding it, Japan, etc. Still there isn't much actual user adoption. How many of you have paid for anything in Bitcoin. We're all just speculating.

This is what causes each wave. We get some positive trends but in the end still no one using bitcoin as a currency = slow decline in value.

Maybe this will change after the August fork. The current rise back up is supposedly related to a fork compromise being reached. This eliminates some of the uncertainty over the future of bitcoin. But it's still far from being an actual means of exchange for the populace.

In some ways the current alt coins boost the value of Bitcoin. Most people have to buy into BTC, ETH, or LTC to get other tokens. So these are now the USD and Swiss Franc. BTC is becoming the crypto reserve currency.

But at the same time the new tokens undermine the hegemony of bitcoin. They offer more faster, more secure, private transactions. Look at what happened with Monero when the drug dealers decided it's secrecy was worth the risk. Prices soared. Meanwhile it's still being valued in BTC (not USD). So both good and bad for Bitcoin.

What concerns me is all these new ICOs. They are happening with little to no oversight nor regulation. It's way too similar to the dot com bubble. Small companies promising new things. Raising huge initial investments based on a new technological infrastructure (blockchain) that ma and pa kettle don't trust and understand. They all claim to be doing different things and having a niche.

I'm guessing we end up with most alt coins going bust. Then a few google amazon and facebook titans ruling the roost.

(06-18-2017 11:03 AM)Travel Museums Wrote:  Then a few google amazon and facebook titans ruling the roost.

The million dollar question is which ones are going to rule the roost.

That's the whole point of our crypto threads here. We're trying to figure out who's going boom and who's going bust.

(06-18-2017 11:03 AM)Travel Museums Wrote:  Bitcoin seems overvalued. There is no arguing this is it's third wave of mass popularity. Prices will go up an down for awhile. But after each wave there is a slow decline in value. It won't go down to what is was. But it won't stay in the thousands forever.

When you say third wave of popularity are you referring to 2013? I don't understand how your arrive at 3rd wave? Maybe you are describing two price uprises in 2013 and then this most recent one in 2017, but even that kind of characterization of three waves does not seem to describe very well about what is going on in bitcoin in regards to price or dynamics, so maybe if you explain a bit more, then at least can better understand what you are talking about.

(06-18-2017 11:03 AM)Travel Museums Wrote:  The problem is there still hasn't been much adoption. I know I know. Some more retailers are adding it, Japan, etc. Still there isn't much actual user adoption. How many of you have paid for anything in Bitcoin. We're all just speculating.

Where is your data coming regarding this supposed adoption problem? Are you getting it from an alt coin pumping site?

There is all kinds of actual and legitimate charts showing considerable increases in adoption that include trade volume, new users, new wallets, higher amount of fees paid, new liquidation avenues including both merchants and exchanges, average fee per transaction increases, and especially in recent months there are a lot of services that are having a lot of difficulties keeping up with increasing demand.

i understand that there are some quasi-logical claims that bitcoin is not being used as it was touted - such as a mass consumption tool and or for micropayments - but those kinds of arguments really do not matter that much in the short run because even though such consumer payment growth has been quite low in bitcoin, there remains all kinds of value propositions in bitcoin, including value storage, remittances and even controlling the movements of your money and avoiding capital controls, while being secure, decentralized and immutable.

In other words, bitcoin is used for much more than just speculation, and it is backed up by exponential and ongoing growth in computing power that would allow its value to rise an additional 100x and still be able to confidently secure such increased value.

(06-18-2017 11:03 AM)Travel Museums Wrote:  This is what causes each wave. We get some positive trends but in the end still no one using bitcoin as a currency = slow decline in value.

Again I don't see how you arriving at such conclusion of a supposed decline in value. Maybe you need to zoom out a bit. yeah, if we start from the top of $2980 of just last week, then we try to describe some macro trend from there..

what the fuck? that makes little sense. You cannot just look at one week and expect an immediate rebound, and even accepting various downwards price corrections should be within the realm of expectations

The daily weighted average chart for the past 50 days put bitcoin's dollar value at 11 all time high for yesterday at $2,564, so your description of a downtrend seems to defy recent facts, unless you are looking at some kind of micro an arguably less logical selection.

https://bitcointalk.org/index.php?topic=138109.580

We have a hovering of prices in the top 50 for nearly 6 months and each month seems to be staggering up to a higher level.. even though there could be another downward correction, there could also be another upwards correction. There is no real sign that buying support is waning, as you seem to want to assert.

(06-18-2017 11:03 AM)Travel Museums Wrote:  Maybe this will change after the August fork. The current rise back up is supposedly related to a fork compromise being reached. This eliminates some of the uncertainty over the future of bitcoin. But it's still far from being an actual means of exchange for the populace.

The August fork (UASF) is not the only thing that is going on in bitcoin, even though it appears that such August 1 fork had caused for increased intensity in some oft he resoultion attempt discussions. Currently there seems to be about 3 balls in the air including the UASF, the segwit2x and the jihan wu miner activated hard fork that has been announced.

Yep they have had moments of creating uncertainty, but there also seem to be fairly decent and active discussions and proposals that seem to allow going forward, certainty and even more likelihood that we are going to get a bullish resolution out of this whole matter.. seg wit activation and delay of any hardfork (or some dumb ass minority hardfork.. hahahaha).

So in the short term, while these matters are being proposed and worked out, there could be up and down spikes, and it is still not impossible that we might not have a third downward leg of the most recent correction (2 legs so far), but it seems that as I type, we are still within the middle of consolidation arena of the second leg of the current correction which price arena seems to be about $2300 to $2600, more or less.

(06-18-2017 11:03 AM)Travel Museums Wrote:  In some ways the current alt coins boost the value of Bitcoin. Most people have to buy into BTC, ETH, or LTC to get other tokens. So these are now the USD and Swiss Franc. BTC is becoming the crypto reserve currency.

Yes, it is a factor. If I were you, I would not over argue this point because it is a dynamic, but I concede that entry and exit is a factor that affects current bitcoin circulating volume, liquidity and usage.

(06-18-2017 11:03 AM)Travel Museums Wrote:  But at the same time the new tokens undermine the hegemony of bitcoin. They offer more faster, more secure, private transactions. Look at what happened with Monero when the drug dealers decided it's secrecy was worth the risk. Prices soared. Meanwhile it's still being valued in BTC (not USD). So both good and bad for Bitcoin.

You are speculating a lot here. Yeah, sure some of these coins can take away some of bitcoin's use cases, but bitcoin still has strong use cases, and may be able to absorb some of these features at a later date, if they seem to be feasible. At this point, bitcoin is valuable because it is less flexible and a lot of the other coins can experiment with various features.

Again lots of going on and lots of cross learning, so problematic to attempt to conclude too much from the various give and take and symbiosism going on in the crypto space.

(06-18-2017 11:03 AM)Travel Museums Wrote:  What concerns me is all these new ICOs. They are happening with little to no oversight nor regulation. It's way too similar to the dot com bubble. Small companies promising new things. Raising huge initial investments based on a new technological infrastructure (blockchain) that ma and pa kettle don't trust and understand. They all claim to be doing different things and having a niche.

O.k. sure. It brings a lot of money and a lot of scams and a lot of pump and dump into the space, and people are going to get burnt and also make a lot of money. Might also draw government attention to some of the matters and negative public impressions and negative credibility, but so what? We may get price movements and price adjustments both up and down and maybe even a drying up of money coming into the space, but again so what? As individuals we try to play these matters to the best of our ability, and there is no real way to predict with any kind of precision how it is going to play out - even though it seems likely that there is going to be a crash at some point... but we could get 1 more week of upwards or we could get 2 more years of upwards before such crash comes. And even if we have a bubble and vapor ware and scams, there is also innovation and learning going on too, that is a result of money coming into the space.

(06-18-2017 11:03 AM)Travel Museums Wrote:  I'm guessing we end up with most alt coins going bust. Then a few google amazon and facebook titans ruling the roost.

Could take years for all of this to evolve. It is good that you have some vision about a possible direction, but it seems problematic to get too far ahead of ourselves to predict the outcome and to attempt to pidgeonhole too much about who will be the winners or losers when the dynamics are still playing out. There are a lot of opportunities to get involved but also if we analyze too much then possibly miss a large number of ways to learn and to profit from these dynamic times, especially if we already have some tentative visions and theories about its direction.

Yeah there were two smaller spikes in 2013 2014 followed by slow decline and relatively flat prices. I don't see what changed all of a sudden to justify a rapid increase in May 2017. Did everyone on earth start using bitcoin to pay their cellphone bill?

Stocks don't just doubles and triple overnight. They can grow that high over a few years given massive investment, innovation, market share, shift in consumer habits. But in a month or two? And massive unexplained volatility? Something is not right. Fundamentals are not solid.

Usually the only time things move that quickly is on their way down. Like when a company reveals cooked books. Oddly with bitcoin the slow decline is after these spikes. It's like looking at a normal growth chart backwards.

How is the blockchain immune to all known economic logic? Such that we see 5000% increases in months? With huge up/down fluctuations along the way? It's mostly speculation.

A good example is Ripple. This is essentially a private cryptocurrency actual being used by banks to settle accounts. It's value is a few cents to a quarter. If every bank starting using it that value could rise to a dollar or so. Giving a market cap of trillions to settle daily accounts the world over.

Until the other alt coins grow that high I don't understand how slow by comparison bitcoin can be valued so high unless its merely as the buy in. In which case it should drop in value as other coins grow and eat away at its dominance of all things blockchain.

(06-18-2017 08:15 PM)Travel Museums Wrote:  Yeah there were two smaller spikes in 2013 2014 followed by slow decline and relatively flat prices. I don't see what changed all of a sudden to justify a rapid increase in May 2017. Did everyone on earth start using bitcoin to pay their cellphone bill?

Again, you seem to be missing some ideas about bitcoin.

A frequent mistake that people do is to attempt to compare bitcoin to some kind of mature industry, and it is not.

Bitcoin has had exponential growth through its history, and 2014 was the only year that it actually lost value (on a calendar year basis).

2014 / 15 was not a "slow decline".

It was a correction followed by a concerted effort to attempt to keep prices down for as long as possible.

Prices began to go up in late 2015 from $250 and by May $2016, the bears kind of lost control of it when it shot past $500 and they were not able to bring prices back down.

So your characterization seems way off, and I don't understand whether you are just reading the wrong materials or if you just don't recognize dynamics.

I know that there are a lot of people attempting to spin bitcoin as a mature industry and to suggest that it is a bygone, but there is either purposeful spinning or misunderstanding going on with those kinds of frames.

(06-18-2017 08:15 PM)Travel Museums Wrote:  Stocks don't just doubles and triple overnight. They can grow that high over a few years given massive investment, innovation, market share, shift in consumer habits. But in a month or two? And massive unexplained volatility? Something is not right. Fundamentals are not solid.

Stocks are all over the place. Bitcoin is not stock, but sure you can make some analogies to stocks, and there are some stocks that experience outrageously stupendous performance.

Ultimately, it is up to you whether you recognize value or whether you believe that fundamentals are solid or not.

(06-18-2017 08:15 PM)Travel Museums Wrote:  Usually the only time things move that quickly is on their way down. Like when a company reveals cooked books. Oddly with bitcoin the slow decline is after these spikes. It's like looking at a normal growth chart backwards.

Are you shorting bitcoin, then? or planning to short? Will be interesting if you actually are taking such a position or if you really are going to put your money where your mouth is.

(06-18-2017 08:15 PM)Travel Museums Wrote:  How is the blockchain immune to all known economic logic? Such that we see 5000% increases in months? With huge up/down fluctuations along the way? It's mostly speculation.

Are you talking about bitcoin or something else? Bitcoin's growth has been more modest in recent months. - maybe more like 500% rather than 5000%.. at least for now.

(06-18-2017 08:15 PM)Travel Museums Wrote:  A good example is Ripple.

I thought that we were talking about bitcoin. Ripple is different from bitcoin, and there are issues with premining and supply restriction and of course manipulation of ripple.

(06-18-2017 08:15 PM)Travel Museums Wrote:  This is essentially a private cryptocurrency actual being used by banks to settle accounts. It's value is a few cents to a quarter. If every bank starting using it that value could rise to a dollar or so. Giving a market cap of trillions to settle daily accounts the world over.

Again, you are talking about ripple.

(06-18-2017 08:15 PM)Travel Museums Wrote:  Until the other alt coins grow that high I don't understand how slow by comparison bitcoin can be valued so high unless its merely as the buy in. In which case it should drop in value as other coins grow and eat away at its dominance of all things blockchain.

The relationship between bitcoin and other coins is much more complicated than that. Each of them have ways of attempting to distinguish themselves, yet bitcoin remains unique in various aspects as well, so it may not necessarily lose market share merely because others are growing. Yeah, relatively speaking we have seen bitcoin occupying a smaller relative space, and we see a decent possibility of a flippening with ETH... and even though those matters are touted as zero sum game prospects, they do not necessarily negate unique aspects being offered by bitcoin in the arena of decentralized immutable secure storage and transfer of value.

Here's an interesting article that describes a new bill that would require the declaration of crypto currencies at the border.

http://www.investopedia.com/news/congres...-security/

Such a law seems quite speculative, and it seems a bit unclear how it would be enforced - for example are you carrying a device that allows you access to private keys, or do you have coins stored in some location that you can access from anywhere in the world... seems a bit invasive because there does not currently seem to be any requirement to declare all the assets that you own in various bank accounts, only to declare what you are actually carrying. Furthermore it could be argued that you are never carrying crypto currencies - you are only carrying the private keys, because the actual crypto currencies are "in the cloud" and not on the device - even though the device may hold the private keys that allow you to access the actual coins. It may be a few years before something like this has some meaningful way of enforcing?

(06-20-2017 12:22 AM)JayJuanGee Wrote:  Here's an interesting article that describes a new bill that would require the declaration of crypto currencies at the border.

http://www.investopedia.com/news/congres...-security/

Such a law seems quite speculative, and it seems a bit unclear how it would be enforced - for example are you carrying a device that allows you access to private keys, or do you have coins stored in some location that you can access from anywhere in the world... seems a bit invasive because there does not currently seem to be any requirement to declare all the assets that you own in various bank accounts, only to declare what you are actually carrying. Furthermore it could be argued that you are never carrying crypto currencies - you are only carrying the private keys, because the actual crypto currencies are "in the cloud" and not on the device - even though the device may hold the private keys that allow you to access the actual coins. It may be a few years before something like this has some meaningful way of enforcing?

The key line is this:

"Because digital currencies technically accompany a holder anywhere that he or she goes"

This is 100% wrong.

This article seems to describe the latest of a kind of segwit2x that causes segwit to be first and then a 2x hardfork would only happen upon testing 2mb increase and 95% consensus regarding that portion.

https://www.cryptocoinsnews.com/chinese-...-segwit2x/

I am little bit unclear if this proposed way forward, meaning the seg wit portion of it, only requires 80% or would also require 95% support?

Seems that folks are excited about this potential resoltion that allows seg wit first.