Discussion
I'm sticking with Ethereum.
It is moving to proof of work, and I see the market wanted to build collateral until mining is stopped. I foresee a price around 100 dollars by the end of year.
it will become more stable, has a great platform and some legitimate backers behind it.
Bitcoin will still be there as the king of crypto.
It is moving to proof of work, and I see the market wanted to build collateral until mining is stopped. I foresee a price around 100 dollars by the end of year.
it will become more stable, has a great platform and some legitimate backers behind it.
Bitcoin will still be there as the king of crypto.
The Spruce goose said:
he pre-mined 3 million, but I see no difference to Satoshi Nakamoto mining 1 million straight away.
Satoshi mined that 1 million, though I suspect there were other early miners who've never reared their heads who own plenty of that figure too, when few others paying attention over several months. If you read into the histories of the time, he was desperately trying to get anyone interested. Anyone else was more than welcome to mine. The software was out there from minute one available to all. It was only his mining keeping the network afloat.
There were no secrets, no pre mines. It was in total obscurity. That makes Bitcoin unrepeatable. Every subsequent coin carries the possibility of its creation being tainted by dishonesty.
Edited by bloomen on Thursday 2nd March 15:46
The Spruce goose said:
Well one big one, no one knows who they are.
I was looking at DASH transaction over the last 6 month, no increase or decreased of norm, the price is increasing either due to be undervalued or pure speculation.
That shouldn't really matter in theory, but of course it does if it turns out to be the NSA. I was looking at DASH transaction over the last 6 month, no increase or decreased of norm, the price is increasing either due to be undervalued or pure speculation.
Dash'll be pure speculation. Every single alt is pure speculation. Bitcoin is probably 95-98% pure speculation with a little sprinkle of utility on the side.
None of these coins ever leave the exchanges. And groups move from coin to coin not knowing or caring anything about their details.
Every few weeks we have a new 'Bitcoin killer'. The last one was Zcash, then Pascalcoin, then Steemit beforehand etc etc. Funnily enough they droop rather radically and no longer threaten to kill Bitcoin when the pumpers move on.
The Spruce goose said:
Wonder if anyone is investing in Bitcoin and Crypto Coins, there are quite a few hedge funds invested. it does seem like the beginnings of nearly mainstream acceptability and the tech is starting to filter into mainstream companies.
http://www.pistonheads.com/gassing/topic.asp?h=0&f=206&t=1121559&nmt=I just wish I'd bought more
Somewhatfoolish said:
That's impressively early adoption all the same. I paid a computer repair guy in Bitcoin a while back. He revealed that his average buy in was 10p. I assume he repairs computers for fun only. [quote=_MIKE_] Have you read this? http://www.coindesk.com/reuters-self-proclaimed-sa...
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Imo, It's quite likely Craig Wright is the inventor of Bitcoin. He claimed, then denied it & for good reasons.
He's a flawed individual & any revelation that he thought it all up doesn't sit well with the move to public acceptance. He will sit on his coins for as long as it takes.
Meantime, he's a prolific thinker & good luck to him.
[/quote]
Imo, It's quite likely Craig Wright is the inventor of Bitcoin. He claimed, then denied it & for good reasons.
He's a flawed individual & any revelation that he thought it all up doesn't sit well with the move to public acceptance. He will sit on his coins for as long as it takes.
Meantime, he's a prolific thinker & good luck to him.
there are still ways to make money. the biggest problem Bitcoin may have is the announcement expected before the 11th march for ETF. I think a lot have bought expecting a positive outcome.
For example even thou all the news is about DASH, Ethereum has increased by 47.99% in the last 7 days. Unfortunately I bought at the wrong time, anything over 21 dollars I am making money.
For example even thou all the news is about DASH, Ethereum has increased by 47.99% in the last 7 days. Unfortunately I bought at the wrong time, anything over 21 dollars I am making money.
The Spruce goose said:
there are still ways to make money. the biggest problem Bitcoin may have is the announcement expected before the 11th march for ETF. I think a lot have bought expecting a positive outcome.
For example even thou all the news is about DASH, Ethereum has increased by 47.99% in the last 7 days. Unfortunately I bought at the wrong time, anything over 21 dollars I am making money.
I think your post here about Dash was a clear sell signal For example even thou all the news is about DASH, Ethereum has increased by 47.99% in the last 7 days. Unfortunately I bought at the wrong time, anything over 21 dollars I am making money.
I'm not too optimistic the ETF will happen (30:70 in my mind). If it is rejected, I predict a 15-20% drop which will recover after 9-12 months. BTC will be traded through ETFs eventually, of that I am certain. The problem is in getting your head around an underlying digital asset rather than an underlying physical asset. I'm not sure the SEC is ready for such a dramatic change in thinking. Mind you, they said Hillary would win
The Spruce goose said:
there are still ways to make money. the biggest problem Bitcoin may have is the announcement expected before the 11th march for ETF. I think a lot have bought expecting a positive outcome.
For example even thou all the news is about DASH, Ethereum has increased by 47.99% in the last 7 days. Unfortunately I bought at the wrong time, anything over 21 dollars I am making money.
This.For example even thou all the news is about DASH, Ethereum has increased by 47.99% in the last 7 days. Unfortunately I bought at the wrong time, anything over 21 dollars I am making money.
Currently trhe market is being predominately retail investor driven, who imo have some serious fomo action going on due to the run up of the ETF decision (or lack there of).
I would buy with caution right now. It's far safer to wait for an outcome, if its a no expect a the elevator cord to be cut, if its a yes $2k per coin could be on the cards in a short space if time.
I run a bitcoin firm, we have halved all our BTC positions until we get confirmation of the ETF.
Irrespective of the decison, the economic and political climate will keep a spotlight on btc for years to come.
Can't believe the value of these now... remember friends of mine using them obtain various substances for 20 coins a bag... some dealer types out there must be utterly rolling in it now?? My brother use to have a 100 coins which went down with mtgox....quite sickening really that amount.
The Spruce goose said:
well a 20% drop on price in 5 seconds, a lot of people lost money and SEC have blocked this bid due to being unregulated. crazy time it is a bit like a gold rush.
7 hours ahead of the SEC announcement the price spiked up by 11% in a matter of minutes. The next few minutes saw the price fall by a similar amount. I'm sure there's a rational/legal/honest explanation....Whilst crypto-currencies may well have a long term future, price action like this shows that BTC is still miles away from being a properly tradeable asset for anyone other than insiders. It is a blind punt, interesting only as a result of the volatility it exhibits. As such, entirely unsuited to being packaged for retail investment. Pretty much what the SEC said.
IMHO of course....
WindyCommon said:
7 hours ahead of the SEC announcement the price spiked up by 11% in a matter of minutes. The next few minutes saw the price fall by a similar amount. I'm sure there's a rational/legal/honest explanation....
Whilst crypto-currencies may well have a long term future, price action like this shows that BTC is still miles away from being a properly tradeable asset for anyone other than insiders. It is a blind punt, interesting only as a result of the volatility it exhibits. As such, entirely unsuited to being packaged for retail investment. Pretty much what the SEC said.
IMHO of course....
I totally agree. Moreover, that holds true for day trading generally, particularly forex. You can't hope to beat high frequency trading bots exploiting volatility and the markets are dominated by them. Add in highly leveraged market manipulation attempts like that monumental spike and you've a recipe for disaster if you think you can punt this up & down for a few extra quid. BTC is a long term hold.Whilst crypto-currencies may well have a long term future, price action like this shows that BTC is still miles away from being a properly tradeable asset for anyone other than insiders. It is a blind punt, interesting only as a result of the volatility it exhibits. As such, entirely unsuited to being packaged for retail investment. Pretty much what the SEC said.
IMHO of course....
Mousem40 said:
That's great, just be careful. If you start making profits and gain confidence it's easy to up the stakes and get smoked.
I used to be an FX options trader/sales in investment banks, I know how the money is made. I used to laugh reading the FT the following day seeing their rationale behind the previous day's forex moves 'GDP in France up 0.1 Eur catches a bid as a result' utter tosh. We had a big Black box hedge fund step in an buy a load and moved the markets, the fund couldn't care less about French GDP figures. I never read the FT or the Economist, they were a joke. Banks have ways of telling each other what's going on, see the money flow, teams of economists and technical analysts and derivatives desks next to them being paid millions to help you.
The whole market moves up and down due to flows, options, technicals, economics, algos etc a lot of which your average Joe has no clue about. You may think you do, but you don't. I'd never chance trading outside of being on the 'inside'
From the next door thread about forex trading. Entirely applicable here. Similar black box hedge funds are rife in the BTC world.I used to be an FX options trader/sales in investment banks, I know how the money is made. I used to laugh reading the FT the following day seeing their rationale behind the previous day's forex moves 'GDP in France up 0.1 Eur catches a bid as a result' utter tosh. We had a big Black box hedge fund step in an buy a load and moved the markets, the fund couldn't care less about French GDP figures. I never read the FT or the Economist, they were a joke. Banks have ways of telling each other what's going on, see the money flow, teams of economists and technical analysts and derivatives desks next to them being paid millions to help you.
The whole market moves up and down due to flows, options, technicals, economics, algos etc a lot of which your average Joe has no clue about. You may think you do, but you don't. I'd never chance trading outside of being on the 'inside'
A key message from the SEC denial is that exchanges need to be more regulated. The infrastructure is too green & weak. I agree.
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