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The Bubbly Bitcoin Thread -- Merged Threads

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1 hour ago, GreenDevil said:

Pity you guys withough any eos. I did tell you... smashed all time highs. How high can it go?

It's made a good recovery, but then its only just above all time highs as it was $18 in mid January, but then crashed to $5 in line with other Alts, it's not like it was $1 just 1 month ago.

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39 minutes ago, longgone said:

i signed up to coinbase i hope this goes well.

Make sure you buy the correct Bitcoin.

hint: Bitcoin Cash is Bitcoin now.

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3 hours ago, doomed said:

Make sure you buy the correct Bitcoin.

hint: Bitcoin Cash is Bitcoin now.

buy everything in sight, puit the farm on it, you cant lose at these levels.

Remember, 6 hours to lose 98% then 2 months to get back to 80% of what you bought at then 4 hours to lose 75% of that -- ad infinatum,

until the magical zero or near zero is reached/breached.

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10 hours ago, markyh said:

It's made a good recovery, but then its only just above all time highs as it was $18 in mid January, but then crashed to $5 in line with other Alts, it's not like it was $1 just 1 month ago.

Looks like my post marked the exact top.

4 hours ago, doomed said:

Make sure you buy the correct Bitcoin.

hint: Bitcoin Cash is Bitcoin now.

Btrash is btrash, always will be btrash.

I do admit the Cup and handle looks nice on the b-trash chart.

Eos is the new ethereum. Lets hope new fortunes will be made on eos as were on ethereum.

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4 minutes ago, GreenDevil said:

Looks like my post marked the exact top.

Btrash is btrash, always will be btrash.

I do admit the Cup and handle looks nice on the b-trash chart.

Eos is the new ethereum. Lets hope new fortunes will be made on eos as were on ethereum.

 

18005764-22A8-4576-8A57-17422F27EE7A.jpeg

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If you look at the Bitcoin weekly chart on logarithmic scale, we have been on a bull run above the 25 WMA (weekly moving average) since October 2015. You can clearly see the BTC slowly dropping to touch the 25 WMA level 4 week ago (@ $6.5k) and then bounce off. 

It's beautiful, and I don't remember anyone on YouTube or here mentioning this before. Look for yourself, pull up any BTC chart (Bitstamp, Bitfinex etc, put it on logarithmic, and add the 25 simple moving average. You can see we got close to it in early Jan 2016, but never reached it and carried on up. Then in the last bear run (which I am saying is now over) we actually touched it but it held and bounced straight off it. 

This week is the 2nd week to close above the bearish trendline that started 3rd week of December 2017. It is also the first week in 2018 to open and close outside (above) this trendline. So for me now April futures shorts (27th) are settled and done with, the bear run is over and $6k-$6.5k was the bottom.

I hope everyone who got out got in again lower and I hope those who wanted in (even secretly) took a position and bought in at least below $8k.

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19 hours ago, GreenDevil said:

Looks like my post marked the exact top.

Btrash is btrash, always will be btrash.

I do admit the Cup and handle looks nice on the b-trash chart.

Eos is the new ethereum. Lets hope new fortunes will be made on eos as were on ethereum.

lets hope so.FWIW I think it's going to be NEO that usurps ethereum.

...got the basic bells and whistles....similar(slightly better IMHO platform, lots of new projects using their tech(red-pulse and i think ICON..both very good projects in their own right with working beta versions)...and limited circulating  supply of 65million(100 million total)..so with a fair wind behind the sector it it's got the potential to do a 4 figure.

EOS chart looks quite nice, but there's lots of charts out there now that look like they are priming for quite a large ramp up.

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This guy understands. :

Saifedean Ammous: The real importance of bitcoin(on-chain) is not making cheap, easy payments. It’s not a way of making fast payments. It’s not going to allow for microtransactions or all these other use cases that we’ve heard are important for bitcoin.

The most important thing that bitcoin offers is a new form of sound money outside the control of any authority or government in the world. And that is something very, very important for the world economy. Bitcoin is hard money as opposed to easy money.

Easy money refers to money whose quantity is easy to increase, in case there is an increase in demand for it.

(edit: if you cannot yourself run a blockchain node to verify that the miners are not inflating the supply of coins, like on Btrash, then you are no better off than on the fiat paper "standard". That is the true meaning of crypto-currency as worked towards for 20+ years by the guys who eventually invented Bitcoin. The Btrash( "centralized sockpuppets"-Satoshi) clowns don't understand sound money. They missed the crypto-currency intention by a country mile).

https://youtu.be/ukjDCeuNK3Y

 

 

Edited by evetsm

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Satoshi says that you can never scale the onchain, distributed, trustless currency to everyday coffee purchases without using second layers. In order to achieve distributed, trustlessness you require massive redundancy via broadcast/flood to many nodes, the more the better. This is incompatible with onchain , distributed, trustless instantaneous micropayments.

1:34:00 in this interview :

https://tim.blog/2017/06/04/nick-szabo/

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On 30/04/2018 at 18:01, oracle said:

lets hope so.FWIW I think it's going to be NEO that usurps ethereum.

...got the basic bells and whistles...

EOS chart looks quite nice, but there's lots of charts out there now that look like they are priming for quite a large ramp up.

Etherium is vulnerable in theory to a technically superior replacement in a way that bitcoin isn't because its about functionality not just security and established value. 

Its also possible that a DApps platform like EoS and smart contract platform like Etherium will happily coexist because smart contracts and DApps are not the same thing (although there is some overlap).

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10 hours ago, evetsm said:

Satoshi says that you can never scale the onchain, distributed, trustless currency to everyday coffee purchases without using second layers. In order to achieve distributed, trustlessness you require massive redundancy via broadcast/flood to many nodes, the more the better. This is incompatible with onchain , distributed, trustless instantaneous micropayments.

 1:34:00 in this interview :

https://tim.blog/2017/06/04/nick-szabo/

You can  buy coffee instantly with Bitcoin Cash, 0-conf and blocks that aren't constantly full.. Plus far cheaper transactions. 

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On 30/04/2018 at 18:01, oracle said:

lets hope so.FWIW I think it's going to be NEO that usurps ethereum.

...got the basic bells and whistles....similar(slightly better IMHO platform, lots of new projects using their tech(red-pulse and i think ICON..both very good projects in their own right with working beta versions)...and limited circulating  supply of 65million(100 million total)..so with a fair wind behind the sector it it's got the potential to do a 4 figure.

EOS chart looks quite nice, but there's lots of charts out there now that look like they are priming for quite a large ramp up.

EOS is junk. Seriously it is a ETH Token pretending it ca usurp Amazon, Google and Microsoft on cloud services.

I do agree on Neo, which is also why I like SwiftDemand, which will be Beo based, but with proof of Identity, this supporting Basic Income, But Also KYC and AML.

 

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4 hours ago, Mikhail Liebenstein said:

I like SwiftDemand, which will be Beo based, but with proof of Identity, this supporting Basic Income, But Also KYC and AML.

Right so its got massive built in inflation and can be censored (and for bonus -ve points Neo is centralised as hell). Congrats on finding something even more lame with less actual crypto properties than XRP though, GG.

Honestly I dunno why you bother with crypto at all, fiat does everything you want already. 

Edited by goldbug9999

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2 hours ago, goldbug9999 said:

Right so its got massive built in inflation and can be censored (and for bonus -ve points Neo is centralised as hell). Congrats on finding something even more lame with less actual crypto properties than XRP though, GG.

Honestly I dunno why you bother with crypto at all, fiat does everything you want already. 

Yeah surely if you sign up for swift, the first thing you do when you get then is trade them for a non inflationary coin.

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1 hour ago, leonardratso said:

what happened to XVG? down 90%, i havent got any but wasnt someone pumping that junk on here not so long back?

Christmas coin (peaked on 25th December) after that it was on the "Verge" of collapse! 😁

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11 hours ago, Mikhail Liebenstein said:

EOS is junk. Seriously it is a ETH Token pretending it ca usurp Amazon, Google and Microsoft on cloud services.

I do agree on Neo, which is also why I like SwiftDemand, which will be Beo based, but with proof of Identity, this supporting Basic Income, But Also KYC and AML.

 

Seems to me EOS just recovered quickly to go past its previous January high. Litecoin is still 50% from Peak price. If Litecoin recovers back to 10% over peak it will regain it's no. 5 spot by Market value. 

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13 hours ago, narco said:

You can  buy coffee instantly with Bitcoin Cash, 0-conf and blocks that aren't constantly full.. Plus far cheaper transactions. 

0-conf is not trustless. Period. Why bother with mining and node verification if you can have trustless 0-conf ? It makes no sense. If it were that easy then why did it take 20 years and a system  of massive mining and node verification effort to get to the point of trustless decentralization ? They could have just made a central database and called it PayPal 2.0. Until your transaction is confirmed ie. included in a block, and preferably at least 6 blocks,  it is not immune from double spend ie. inflation of the coins.  Only the brain dead  Btrash dev(singular) and his co-hort of felons could make the leap that 0-conf is secure. It's a fraud and you'd have to be a dupe to believe it's not.

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Do you think monetary policy is really the most important government power that needs checking? For me I'm not even sure it's in the top 5.

"Cultists of "Great Genius Vitalik" are up for a rude awakening one day when they finally realize he's just a kid with a pronounced Dunning–Kruger syndrome. "

https://mobile.twitter.com/VitalikButerin/status/991095496520318976

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There is an air of desperation at Btrash.

They have always spoken about the flippening, that  is ,when it becomes more profitable to mine than bitcoin and then the hash power(miners) defects en-mass to Btrash leaving Bitcoin high and dry. For that to happen the price of Btrash tokens had to reach a certain premium and/or the total value of the transaction fees per block had to reach a certain premium.   

In a fee market the demand  for  blockspace, for a fixed blocksize,  is rationed by transaction fees/price that varies with demand. To cap(fix) the fees you have to continually increase the blocksize , the supply, as demand increases. To get your total value of the fees large enough to attract miners you need to have enough transactions. Problem is that Btrash is woefully short of users and  txns.

https://fork.lol/tx/txs

So absent the necessary criteria above to generate enough value, and in an act of desperation to kickstart the flippening , what they are now doing is :

1. Pumping the price of the tokens by miners buying them up themselves and removing them from the market (burning the tokens , to use their term). Increasing demand, while simultaneously limiting supply.

https://web.facebook.com/AntPoolBITMAIN/posts/1836430923324473

This is a bit like a spaceship using up its life supporting oxygen for thrust instead, as one commenter observed. 

2. Increase the number of transactions, by increasing the scope of the script opcodes  and thus allowing more esoteric transactions,  in this case allowing them to  be filled with spam. Using the Btrash blockchain to support a twitter type messaging system called memo.cash. ie. Spamming message transactions into the blockchain.

This is the exact opposite of what Satoshi proposed. In fact he reduced the blocksize from 32mb to 1mb and restricted the opcodes in the script in order to specifically restrict the possibility of spam. He wanted to make the blockchain dedicated to bitcoin as money to enable it to mimic gold as closely as possible.

These desperate measures of Btrash are  like a politburo frantically  trying to kick-start an economy by rigging economic  supply and demand  from some  underground bunker.

Pass the popcorn........

 

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5 hours ago, longgone said:

on another forum someone bought 1.5m xlm (stellar) and sold at the most recent the top. 2600% profit was mentioned 

 

As a crypto optimist, corrected that. If they spend that FIAT and don't buy back in lower, how will they feel when in a few years XLM is ten times what he sold for? I would be sick as a dog.

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