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narco

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Everything posted by narco

  1. Look, I realise people are excited to get hold of some Bitcoin but let's have a dose of reality here.This monthly view of Bitcoin is NOT a bullish chart. The bubble is over. These type of moves on the monthly time frame can take years, if not decades to recover from. The only charts that come close are silver in 1980, the Nasdaq in 2000, followed but the dutch tulip bubble of 1636. The more I look on this chart it's very clear the top is in and it's going much lower, although I do have some light crypto exposure which is probably going to get toasted during this bear market.
  2. A scenario to consider on the Bitcoin weekly chart. It's a classic bubble no different to any of the Alts but more of a slow burner.
  3. There's some truth here but also a fair bit of complacency. Up until last year, Altcoins were mostly Bitcoin forks, replicas or completely worthless pre-mined ponzi shite. Bitcoin has had 10 years at the top and experienced a ton of mainstream media spanning 2 massive bubbles. So what's the realistic upside to Bitcoin from here? A coin that hasn't gained any real world adoption in 10 almost years? Bitcoin at $100k isn't nailed on and the chart right now looks just the same pump and dump as all the other Alt coins. It's current decline is just warming up. If there's a reasonable chance the lightning network fails to deliver and it still doesn't getting any traction in the economy, it's worth keeping an open mind on new developments, otherwise you may end up holding onto AOL, Yahoo or MySpace shares. The problem is, nobody wants to do their research or think ahead with an open mind. Just look around on the youtube and see all the complete crappy pointless tokens people are pumping. Most of these Alts are certainly going towards zero, but if people put in their homework then there's definitely still massive opportunity.
  4. Bitcoin is going to be the flagship of crypto for a long time to come. It will probably go to $100k, even if the lightning network is a bust (which I believe it is). Bitcoin wont gain any traction in the real economy for day to day use, but will do well purely as an investment vehicle and as the flag bearer for the crypto space. For those willing to dig deeper, there's far better potential elsewhere and the opportunity to be involved with a coin at inception. We will see a coin emerge that is decentralised, instant, free, scalable and private. It will be a DAG type coin with privacy and incentives for running nodes (light inflation). Right now, the best day to day payment coin is Nano, but it isn't perfect and more like a prototype. XLM is a decent coin but the fees (even though small) will prevent it becoming a top contender. Both lack privacy features. Or like the other guy says above, you can go with the cookie cutter approach and just buy Bitcoin.
  5. We've been told that XRP was 'designed' by Ripple for banks to make international payments. It is completely centralised with 60% of all tokens held back by Ripple Labs. You buy this token in the hope that Ripple somehow make deals with international banks to purchase XRP for their cross border liquidity requirements. It is the complete opposite of how a crypto currency is meant to function and a solution looking for a problem. XRP should not even exist within the public domain. Ripple clearly saw a smash and grab opportunity to allow the public to speculate on it's price, while raising brand awareness and lining their pockets. It's a very well dressed up ponzi using slick marketing. If Ripple fails to get traction with the international banks (which is clearly obvious they wont) then this token is going rapidly towards zero. The remaining 60 billion tokens will be removed from Escrow and dumped on the exchanges. You have heard of Stellar Lumens right? XLM?
  6. If you like XRP tech then why not buy XLM? It's effectively the same coin where the creators don't own 60% of the supply. So what exactly are these hoarded 60 Billion XRP tokens for? Do you really expect the banks to start buying these up and drive up the price? Why don't they use xCurrent or xVia tokens? Why can't these be bought on public exchanges? The reason for XRP is purely to rip off the general public and line Ripple's pockets.
  7. XRP is a centralised ponzi. The only reason these coins are circulating on public exchanges is to line Ripple Corp's pockets. No other reason.
  8. I think NANO is getting close to bottoming out against BTC. It's likely they'll both decline in fiat terms though so not a buy recommendation. I'm waiting to see what happens should BTC hit $5k to see what the price action looks like.
  9. Well , considering that 99% of all Alts are completely pointless Bitcoin forks, replicas or useless ERC20 tokens ,thats not really saying a lot.
  10. I see the opposite and we're on the brink of a massive waterfall event across the board with probably a 50% haircut from here. The weekly and monthly are rolling over and the daily is showing a bear flag. There's a potential for another run up towards $11,000 on the lower timeframes beforehand.
  11. A very interesting read on the history of the block size debate. https://hackernoon.com/the-great-bitcoin-scaling-debate-a-timeline-6108081dbada If I was a Bitcoin holder I would have some serious concerns about the Blockstream devs and their intentions.
  12. Lightning Network DDoS Sends 20% of Nodes Down https://www.trustnodes.com/2018/03/21/lightning-network-ddos-sends-20-nodes
  13. The lightning network brings a whole layer of complexity and potential problems to the table. It might even be detrimental to the brand if there are reports of people losing money when using it Bitcoin will most likely rise anyway due to it's name, the sheer weight of cheerleaders and vested interests behind it. Also, eventually funds will pile in via ETFs in the future and we'll get another bubble. It's acts as a flag bearer for the entire space and has the name that mum and dad investors have heard of. My suggestion to the devs would be to stop tinkering, raise the block size where necessary and just leave it be.
  14. Have you looked at the weekly / monthly charts? They look horrendous with a potential for a serious leg down. Look at the monthly MACD (rolling over an ready to cross) and RSI (still over 65). This to me suggest it will be more of a prolonged bleed out rather than sideways action. The only hope is that we we make a final bull run (but possibly not taking out all time highs) before the more extreme sell off occurs. My preference would be a rapid sell off following by a 2-3 year bottoming phase.
  15. Sent at 2:50pm with a fee of 0.00001349 BTC. Arrived completed with 2/2 confirmations on Binance at 3:27pm. I know I've bashed Bitcoin a bit on here, but this really isn't acceptable.. Bitcoin is fine for storage and security but it's a dreadful coin for smaller quick transactions. This is not a problem, since there's plenty of room for coins to specialise at certain tasks. I'm sure Litecoin isn't that much quicker either.
  16. Well I've just tried to send some Bitcoin to my Binance account. 23 minutes in and still 0/2 confirmations showing.. ..Now 31 minutes and 0 confirmations. Not sure if this is the coinbase auto fee that's messed up but this is ridiculous...
  17. Interesting to see Nadeem Walayat from marketoracle making price calls on Bitcoin. I remember back in the early HPC days he nailed some epic predictions on the UK house prices blip and recovery, the stock market rally from 2009 and some nice gold calls back in the day. All his old posts are still on there. He's currently forecasting a drop to at least $5k and ultimately $2k as a long term buy area. Also scrolled down and noticed he called the 2013 top in Bitcoin in advance. http://www.marketoracle.co.uk/Article61839.html The bloody website looks exactly the same as it did in 2006/2007 when i first read it. Really needs updating!
  18. There's a fork of Nano on the way which is being used as testnet with lowered POW. Seems like a bit of a joke coin (like Dogecoin) but looks like Nano holders will get some airdropped when it's launched. https://www.reddit.com/r/bananocoin/ As for Nano against other coins, I don't see anything that directly competes in the pure payment coin space yet. IOTA is offering fast and free transactions but it is trying to be more of an all singing all dancing, swiss army knife of crypto. I'm not interested based on all the crappy wallet sync and private key issues. Also this one is heavily centralised right now.
  19. You can also see better price discovery across exchanges as it would open up the ability to arbitrage. At the end of the day the market will decide what it wants to use for exchange transfers, so we'll see if I'm right over the next few years. For whatever purposes Bitcoin is good for, this isn't one of them.
  20. That's not the same as buying a few coins to speculate on exchanges. People want to see their money moved quickly and without 1.00 coin arriving as 0.9912457 or whatever .. The fees seem to change like the wind. It doesn't matter if it's BTC, LTC, ETH, BCH, they're all basically the same. Slow, clunky with fees. Please supply evidence of how zero fees will work with Bitcoin on the LN network.
  21. If you could buy a coin and transfer it instantly and without any cost to another exchange then why would anyone choose a plodder like Bitcoin? If you're lucky you might only have to suffer a 30 minute wait or an overnight stop in the case of December. So if Nano becomes the exchange medium of transfer, then it's only a matter of time before it becomes the primary trading coin against other Alts.
  22. I guess any solution to work around Bitcoin's sluggish Blockchain is a good thing.
  23. There's already no reason for anyone to even bother trying, but if it proves to be an issue the devs can escalate or tier the POW difficulty. The centralisation is bit of a concern but it's very early days. The developers are expecting that vendors and service providers will eventually run their own nodes in exchange for the cost savings of zero transactions. They need better incentives for people to run nodes. Nano will definitely be attacked over the coming years. The major Blockchain players, communities and organised mining pools are not going to give up dominance without a fight.
  24. We'll find out soon enough, but we've not seen any evidence of problems with the coin itself so far. The BitGrail shambles was either a fraud or a bug on the exchange. I don't see Nano as a competitor to Bitcoin as it is more of a "digital gold" coin which has been battle tested in terms of security. Nano is more for general day to day or micro payments coin currently. If Nano gets a fiat gateway, it will by default become the primary coin for all inter-exchange transfers. I can imagine it could even replace BTC as the primary Alt trading coin. My big wildcard play on Nano is if the lightning network fails, you could see a stampede out of traditional blockchain coins and Nano could do very well. There's not really much interest in it and so far as the market hasn't yet figured it out. This is a good thing.
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