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Discussion: Upcoming Bitcoin Fork and Effects on Crypto Landscape
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JayJuanGee Offline
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Post: #26
RE: Discussion: Upcoming Bitcoin Fork and Effects on Crypto Landscape
(10-31-2017 11:28 AM)jamaicabound Wrote:  Has anyone actually claimed their Bitcoin Gold outside of people who got it from HitBTC or YoBit? Bittrex supposedly is handing them out but hasn't, I think Yobit recently started or will be starting soon. My Trezor hasn't allowed me to do so.


Yes, each of these exchanges that you mention as listing BCG (Bitcoin Gold) are issuing fictional BCG upon the belief that BCG will become a real thing based on the terms that the BCG dev team has communicated, and include Bitfinex in that round up, too - that is of exchanges issuing fictional BCG....

I did not personally benefit from Bitfinex's issuance of BCG - because I withdrew all of my BTC from Bitfinex before the recognition fork, which was block 491407 on October 23.

Only exchanges seem to be able to get away with issuing fictional BCG, and some of them are just not going to do it.. and the hardware wallets are taking the same stance, as I posted above. They don't want to get into any kind of fictional issuance or BCG recognition situation that could either jeopardize the security of their platform or jeopardize their user's confidence in their platform.

(10-31-2017 11:28 AM)jamaicabound Wrote:  I knew Bitcoin Gold would be straight garbage,

There is certainly some lackings in terms of actual output.

About a week ago, I had seen some kind of advert on the github in which it appeared that they were still looking for assistance in writing their replay protection software, and I think that is part of the problem, in spite of their November 1 goal to have actual access to the real BCG, I am having some doubts about whether they are either going to meet their target or that there will be enough practical confidence that very many folks are going to attempt to move their BCG, even if they were to be able access them.


(10-31-2017 11:28 AM)jamaicabound Wrote:  I'm pretty sure Bitcoin as we know it today will win out over Segwit2 however I'm not certain enough that I'm going to sell early.

You may want to consider taking less than a 100% stance on this situation, unless you really have something approaching that level of confidence.

As we already know, sometimes bitcoin gets pumped at unexpected times in order to shake weak hands, and there remains a non-trivial possibility that this segwit2x situation could be one of those times.

(10-31-2017 11:28 AM)jamaicabound Wrote:  While I do think people who sell futures or sell asap get the highest value for their new split coins / altcoins, I think segwit 2 could be contentious enough that I'm willing to pass up a small bit of profit on dumping it to ensure the current Bitcoin wins out.

I'd hate to sell my Segwit2x for say a grand and then have current BTC and segwit2 swap values and I lose money.

You seem to be talking about a scenario that is possible, but is likely below 5% of actually having some kind of switch like what you are suggesting to be possible.
10-31-2017 01:39 PM
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jamaicabound Offline
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Post: #27
RE: Discussion: Upcoming Bitcoin Fork and Effects on Crypto Landscape
(10-31-2017 11:33 AM)Dvorak Wrote:  Seems like the BTC pump has already begun, 6,4k currently. A bit earlier than I expected even, I didn't get into the exact position I wanted to (taking some losses at the alt-side), but I can't complain.

I don't think this is part of the "fork pump" if that's what you were inferring. I havn't been following super closely but with the Chicago Futures exchange or whatever saying they will trade Bitcoin futures by the end of year I think that's what's causing the surge today.

Maybe someone else can chime in on this but I think yesterday was the end of the extension a couple Chinese exchanges had before they had to stop operating. Are they still going or are things stalled there now? That may affect price somewhat.

Oddly enough I expected a large runup to Bitcoin Cash and it for the most part traded sideways going into it and same for Bitcoin Gold. I'll be curious to see what happens this time around.
10-31-2017 01:54 PM
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Post: #28
RE: Discussion: Upcoming Bitcoin Fork and Effects on Crypto Landscape
(10-31-2017 01:39 PM)JayJuanGee Wrote:  Yes, each of these exchanges that you mention as listing BCG (Bitcoin Gold) are issuing fictional BCG upon the belief that BCG will become a real thing based on the terms that the BCG dev team has communicated, and include Bitfinex in that round up, too - that is of exchanges issuing fictional BCG....

I did not personally benefit from Bitfinex's issuance of BCG - because I withdrew all of my BTC from Bitfinex before the recognition fork, which was block 491407 on October 23.

Only exchanges seem to be able to get away with issuing fictional BCG, and some of them are just not going to do it.. and the hardware wallets are taking the same stance, as I posted above. They don't want to get into any kind of fictional issuance or BCG recognition situation that could either jeopardize the security of their platform or jeopardize their user's confidence in their platform.

Thanks for posting that, it's funny I never really thought into where this BTG was comming from, so the exchanges technically don't even have it they are basically fronting those buying and selling, that's interesting but makes sense. I know this idea is kind of controversial since most people are very against keeping money on exchanges but for Bitcoin Cash and even Gold looks like those who did faired better than the rest of us. I may empty out my Trezor onto a couple exchanges leading into segwit just to keep my options open and potentially be able to be an early seller.



(10-31-2017 11:28 AM)jamaicabound Wrote:  You may want to consider taking less than a 100% stance on this situation, unless you really have something approaching that level of confidence.

As we already know, sometimes bitcoin gets pumped at unexpected times in order to shake weak hands, and there remains a non-trivial possibility that this segwit2x situation could be one of those times.
(10-31-2017 11:28 AM)jamaicabound Wrote:  Are you suggesting that price may actually fall after segwit? That's interesting I hadn't thought about it that way but makes sense. I guess either the uncertainty ends and we go up in value or maybe were sitting high now and we pull back to 5k or so.
You seem to be talking about a scenario that is possible, but is likely below 5% of actually having some kind of switch like what you are suggesting to be possible.

I get kind of confused by these forks. I don't really understand the politics behind them. With the first fork I was under the impression it was a Jihan BitcoinABC or Unlimited going up against Bitcoin Core and maybe my understanding of it is wrong but seemed like Bitcoin Cash totally came out of left field.

With this current thing I hear people talk about a corporate takeover of Bitcoin, I'm assuming that's Segwit and not core? When you read reddit and stuff you hear segwit is 95% supported then the next day someone is saying its only 5% supported. That stuff is way over my head but I'm concerned enough about this one with the little I know that to me on the offchance there is a flippening I'd rather hold both and see what happens than try to make a few bucks and potentially sell off the coin that doesn't maintain the highest value.

So is your thinking this Segwit2X will be a flop? Do you think it will die or do you think they will cave and employ replay protection to at least keep an altcoin alive
10-31-2017 02:14 PM
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Post: #29
RE: Discussion: Upcoming Bitcoin Fork and Effects on Crypto Landscape
(10-31-2017 11:33 AM)Dvorak Wrote:  Seems like the BTC pump has already begun, 6,4k currently. A bit earlier than I expected even, I didn't get into the exact position I wanted to (taking some losses at the alt-side), but I can't complain.

Yes, well the pump characterization is kind of an unresolved empirical question, currently.

I personally think that pump in this context is a bit of a mischaracterization, but as you suggest, it may be a bit too early to determine what is going on, exactly.

I think that you are conceding that you expect that the price was going to likely rise before the segwit2x fork - and then a question remains about whether there has been "gradual" upwards BTC price movement throughout October with some kind of underlying anticipation that Segwit2x threats are going to be duddily.

Furthermore throughout October we have had some seemingly ongoing bleeding of alts, that likely partly comes from various governmental (including china) seeming extra hostilities towards ICOs - kinds of alts.



(10-31-2017 11:33 AM)Dvorak Wrote:  Let's hope there is some fuel in this rocket.

Fuel into bitcoin specifically seems to be coming from the overall money in the crypto market.. but then there seems to be some evidence of new money coming in, too... .... Yeah, it is difficult to determine exact specifics, but we can definitely proclaim hunches and theories regarding these fuel matters... By the way, there is still a lot of "crypto" and "blockchain" hype out there and seems that smarter money is going to have some sense that bitcoin is the dog in this matter and not the tail, as some propagandists like to suggest on an ongoing basis (and maybe even the public at large might begin to realize, too).. so yeah, there seems to be fuel, fuel, fuel that goes beyond a kind of manipulation that would be implied from the use of the term "pump" causing this ongoing upwards BTC price movement.


(10-31-2017 11:33 AM)Dvorak Wrote:  Remember that a rumor/news event (e.g. USA possibly banning BTC) might completely mess up any prediction/strategy.

What is the chances of this kind of news having any kind of meaningful resonance? less than 1% or you believe the odds of the happening and/or the resonance of such unlikely news to be higher?

(10-31-2017 11:33 AM)Dvorak Wrote:  
Quote:Even when I am playing so small with my bets, right now I have so much cash that I have no problem welcoming a crash, that seems on the less than likely to happen - at least not until after we have a bit of a more upwards movement, perhaps into the $6800 to $7800 territory, then we will reassess from there.
7,8k is quite optimistic. Let's see how far we'll go.

Well I am referring to $7.8k as the upper end of the next range of meaningful resistance. Of course, if BTC prices were to break above such resistance range, then the next area of meaningful resistance would be in the $9,400 to $13,700 arena.

I am not talking about hope or dreams or anything outrageous. I am merely referring to dynamics of price increase ranges that take place when there are breakouts above previous resistance levels.. and then where is the area that seems to be the next resistance level.. It does not even that we are going to arrive there, but that there is decent odds, momentum that is generated by breaking through previous areas of resistance and even considering the ways in which we had broken through such, the gradualness of the price slope and the corrections that have taken place along the way.

(10-31-2017 11:33 AM)Dvorak Wrote:  I've heard a possible fall to 5k with support level there a couple of times already. I might throw some extra cash at it if we have a good dip.

Of course, there are odds of both up and down, and perhaps those odds are always changing a little bit depending on ongoing market dynamics and momentum.

It just does not seem too likely to be waiting for a 20%-ish correction when we are breaking up and continuing to break up and we have recently had the 40% correction and even a certain amount of slowness in the ongoing upwards breaks that likely allows buying support to catch up to the current price... Accordingly, wishing for $5k or anywhere near that seems to be wishing against the odds to some extent (sure, of course, anything is possible in bitcoinlandia, but the odds still remain the odds, and we have to kind of go with the flow which continues to be ongoing up.. and if you are looking at any kind of chart of momentum and probability the odds still seem to be on the side of upwards breaks, even continuing to be slight, here and there).


(10-31-2017 11:33 AM)Dvorak Wrote:  But who knows, current price rise might just be a general bull-run building up (total market cap is rising as well). Let's hope the 2017 run (which I missed) repeats.

This bull run is more or less from November 2015 - and it was more or less confirmed in May 2016, with several reconfirmations along the way. Sure, of course the slope got a bit steeper in various parts of 2017 - but there is not really any sign that it is running out of steam, yet - but yeah, of course, it could reverse at any time, but we have decent ongoing and upwards price pressures that continue that cause odds a bit in favor of ongoing upwards...

Just to mention a couple other things: When we get slopes that contain built in corrections and ongoing price pressures, each time we break through resistance then we can look at the next level and each next level becomes more and more probable.. which also increases probabilities in terms of the possibility of BTC prices approaching $20k by the end of the year, and even possible irrational exuberance beyond those levels. Yeah, sure the probabilities of $20k-ish are still likely in the below 20% territory, but they are a hell-of-a lot greater than they were in May or so, when perhaps they were less than 1%... so anyhow, we have both upwards and downwards possibilities, and we cannot forget about extreme possibilities on each end as bringing the seemingly improbable into realms of probability.


(10-31-2017 11:33 AM)Dvorak Wrote:  
(10-29-2017 10:51 AM)Pinocchio Wrote:  Lets say this happens and there's a sell off. Which fork will you be buying back post fork or both?
The Segwit2x (B2X) bitcoin is seen as a hostile takeover from the miners. There are very few users/devs in favour of this, so I don't think it has that much long-term potential. I'm even surprised that the futures for them are currently trading at 1k: https://coinmarketcap.com/currencies/segwit2x/

The "Bitcoin Core" Bitcoin (BTC/XBT) seems to have overwhelming support, so I'll keep these long-term. Might keep a couple of B2X as a hedge (low chance bet).

But yeah, do your own research.


I think that you and I are largely on the same page regarding these above points - including that your suggestion that there ongoing and consistent support from core that is against the segwit2x efforts and that a vast and perhaps overwhelming part of the bitcoin community is siding with core on this issue - and this siding with core is likely to persist, even if they get a considerable amount of miners and even other BIG players that might be putting out ambiguous messages and even inclined to throw some of their economic power at the renegade segwit2x fork threat (either before it happens or after it happens, if it does).
10-31-2017 03:36 PM
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JayJuanGee Offline
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Post: #30
RE: Discussion: Upcoming Bitcoin Fork and Effects on Crypto Landscape
(10-31-2017 02:14 PM)jamaicabound Wrote:  
(10-31-2017 01:39 PM)JayJuanGee Wrote:  Yes, each of these exchanges that you mention as listing BCG (Bitcoin Gold) are issuing fictional BCG upon the belief that BCG will become a real thing based on the terms that the BCG dev team has communicated, and include Bitfinex in that round up, too - that is of exchanges issuing fictional BCG....

I did not personally benefit from Bitfinex's issuance of BCG - because I withdrew all of my BTC from Bitfinex before the recognition fork, which was block 491407 on October 23.

Only exchanges seem to be able to get away with issuing fictional BCG, and some of them are just not going to do it.. and the hardware wallets are taking the same stance, as I posted above. They don't want to get into any kind of fictional issuance or BCG recognition situation that could either jeopardize the security of their platform or jeopardize their user's confidence in their platform.

Thanks for posting that, it's funny I never really thought into where this BTG was comming from, so the exchanges technically don't even have it they are basically fronting those buying and selling, that's interesting but makes sense. I know this idea is kind of controversial since most people are very against keeping money on exchanges but for Bitcoin Cash and even Gold looks like those who did faired better than the rest of us. I may empty out my Trezor onto a couple exchanges leading into segwit just to keep my options open and potentially be able to be an early seller.

I think that you are correct that there was some potential financial benefit in the some of the last forkenings in leaving some or even all of your BTC on exchanges - but I don't think that we can necessarily count on that, and we have to consider the risk, too.

Personally, I have already been in the habit of rolling the dice, somewhat, when it comes to my personal coins and my use of exchanges.

Currently, I have about 20% of my coins distributed on 4 exchanges (that is about 5% on each of the ones that I am using).

Personally, I am not so motivated by profit, even though there frequently can be ways to profit; however, I do feel that I am more actively involved in the bitcoin community, and I am able to grasp more of the dynamics when I am trying to spread out some of my BTC participation, which includes my ongoing useage of various exchanges, even during periods in which the legitimacy and/or solvency of the exchange(s) is(are) questioned.




(10-31-2017 02:14 PM)jamaicabound Wrote:  
(10-31-2017 11:28 AM)jamaicabound Wrote:  You may want to consider taking less than a 100% stance on this situation, unless you really have something approaching that level of confidence.

As we already know, sometimes bitcoin gets pumped at unexpected times in order to shake weak hands, and there remains a non-trivial possibility that this segwit2x situation could be one of those times.
(10-31-2017 11:28 AM)jamaicabound Wrote:  Are you suggesting that price may actually fall after segwit? That's interesting I hadn't thought about it that way but makes sense. I guess either the uncertainty ends and we go up in value or maybe were sitting high now and we pull back to 5k or so.
You seem to be talking about a scenario that is possible, but is likely below 5% of actually having some kind of switch like what you are suggesting to be possible.

I get kind of confused by these forks. I don't really understand the politics behind them. With the first fork I was under the impression it was a Jihan BitcoinABC or Unlimited going up against Bitcoin Core and maybe my understanding of it is wrong but seemed like Bitcoin Cash totally came out of left field.

I think that you have the general idea, but I would frame these forkenings a little different.

A lot of these forks are coming from the same nutjob BIG blocker, destroy or undermine bitcoin, place.

Sure the specifics may evolve and even the subgroups might evolve, but several of the BIG blocker groups have similar supporters (that also grow and evolve over time), and even though they frequently frame the "brokenness" of bitcoin in terms of technical issues, such as scaling, one of their core objectives remains to change the ease which bitcoin can be changed to make bitcoin more moldable. The other aspect is to undermine bitcoin in some ways, which they perceive to be in their interest whether it is pumping other coins or pumping traditional fiat systems.

So, yeah, even though Bcash may have seemed somewhat spontaneous, it largely was an attempted faking out and playing around with the same kinds of goals - and some of the same folks, whether those folks were renegade subgroups or not, they are similarly hostile and without any meaningful agenda beyond disruption, undermining and maybe hoping to make a little money along the way. By the way, it seems fairly clear that Bcash was spontaneously conceived because their whole segwit2x (NYAgreement) did not seem to go as planned and instead resulted in the locking in and activation of segwit through a kind of creative BIP91 (which was contrary to their original goals to accomplish the opposite of what they wanted.. hahahaha.. what a fuck up!)



(10-31-2017 02:14 PM)jamaicabound Wrote:  With this current thing I hear people talk about a corporate takeover of Bitcoin, I'm assuming that's Segwit and not core? When you read reddit and stuff you hear segwit is 95% supported then the next day someone is saying its only 5% supported.

I am unclear about what nonsense you are reading, but sometimes there is mixing of discussion that is water under the bridge... so questioning of segwit when it already has been locked in, activated and in the process of implementation.. so who fucking cares how much support that it has because it is already in.

There is some other discussion regarding the extent to which segwit2x is supported and those are fucking misleading indicators because these folks (miners largely) are signaling segwit2x ---

here's a link to the signalling... currently at about 84% as I type

https://coin.dance/blocks

Anyhow, a lot of folks are arguing that the signaling of intent has some kind of meaning, when there is no actual software that is actually being run - or at least if there is some software being run, it is by a pretty small number of miners because time and time again, the programers of segwit2x and some of the other bigblocker software has resulted in unreliability and loss of money - mostly to miners - because of stupid-ass software fuck-ups.


(10-31-2017 02:14 PM)jamaicabound Wrote:  That stuff is way over my head but I'm concerned enough about this one with the little I know that to me on the offchance there is a flippening I'd rather hold both and see what happens than try to make a few bucks and potentially sell off the coin that doesn't maintain the highest value.

Sure there is nothing wrong with hedging to some extent. If the fork actually occurs, then you are going to have coins on both chains, so there may not be a need to rush a decision, and you actually might not want to rush a decision if it is unclear about whether replay protection is there - and there are not other tricks in the software or the claiming and/or transferring of coins processes.


(10-31-2017 02:14 PM)jamaicabound Wrote:  So is your thinking this Segwit2X will be a flop? Do you think it will die or do you think they will cave and employ replay protection to at least keep an altcoin alive

I doubt that it is going to be a complete flop, and it is possible that it could be a greater threat than bcash ended up being... I do think that the odds are against segwit2x being successful and flippening... but I am doubting that there is going to be a need to take any rash actions because sometimes the market could move contrary to expectations in either direction.

At this point, I do not plan to take any drastic measures that depart from they system that I already employ... which is buying on the way down and selling on the way up.. but there could be some exchange disruptions and there could also be some period of time that it would not be safe to perform blockchain transactions, either. We have a bit more than two weeks before this forkening of segwit2x actually occurs - oh, and by the way, there is likely going to be a forkening of Bcash a couple days before the segwit2x fork... just to make matters a bit more confusing.
10-31-2017 05:39 PM
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Post: #31
RE: Discussion: Upcoming Bitcoin Fork and Effects on Crypto Landscape
https://bitcointalk.org/index.php?topic=2311582.0

There's going to be another fork in December for bitcoin Silver. I can see this forking happening each month forever, maybe even weekly so as long as it increases the price of BTC. Would this kill off the altcoin market? I have no clue. Even some bitcoin maximalists are worried that continually forking is not a good thing.
11-01-2017 06:52 AM
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Post: #32
RE: Discussion: Upcoming Bitcoin Fork and Effects on Crypto Landscape
(11-01-2017 06:52 AM)[email protected] Wrote:  https://bitcointalk.org/index.php?topic=2311582.0

There's going to be another fork in December for bitcoin Silver. I can see this forking happening each month forever, maybe even weekly so as long as it increases the price of BTC. Would this kill off the altcoin market? I have no clue. Even some bitcoin maximalists are worried that continually forking is not a good thing.

If I didn't know any better, I would think this is a joke.

What's next? Bitcoin Platinum?
11-01-2017 07:07 AM
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RE: Discussion: Upcoming Bitcoin Fork and Effects on Crypto Landscape
I'm afraid it's very real. Others on YouTube are talking about it.
11-01-2017 11:40 AM
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Post: #34
RE: Discussion: Upcoming Bitcoin Fork and Effects on Crypto Landscape
Here a really good facts summary of the upcoming 2x fork.

https://www.reddit.com/r/CryptoCurrency/...the_facts/
11-05-2017 02:08 AM
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RE: Discussion: Upcoming Bitcoin Fork and Effects on Crypto Landscape
(11-05-2017 02:08 AM)semibaron Wrote:  Here a really good facts summary of the upcoming 2x fork.

https://www.reddit.com/r/CryptoCurrency/...the_facts/

I don't really understand a lot of what people are talking about in that thread. There's a lot of doom mongering though - is that normal before any forks?

At this stage, I'm unsure whether to just keep a hold of what bitcoin I have and ride through it, or take it all out a day before the fork and re-enter afterwards.

I'm leaning towards holding it and riding through. If the price drops significantly after the fork, I'll buy some more on top of what I already have.
11-05-2017 04:00 PM
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RE: Discussion: Upcoming Bitcoin Fork and Effects on Crypto Landscape
The upcoming fork is much more serious than BCH or BTG. That's why all the fear.
11-06-2017 05:32 AM
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Post: #37
RE: Discussion: Upcoming Bitcoin Fork and Effects on Crypto Landscape
(11-06-2017 05:32 AM)semibaron Wrote:  The upcoming fork is much more serious than BCH or BTG. That's why all the fear.

Here is a decent descriptive article from JimmySong in which he is outlining some various scenarios, and he states that he intends to put out a more descriptive article to follow this one.

https://medium.com/@jimmysong/segwit2x-g...f863904a72

I agree that the proposed segwit2x fork seems to be more serious, in some ways, than either the BCH or the BTG fork. In part segwit2x is threatening to take more of BTC's network effect, but they all threaten some of that, but it still remains to be seen how much network effect Segwit2x will actually be able to achieve in the real world application, rather than mere theories, threats and scares about it.

The BCH fork was serious in its time though because it happened so quick and it was the first time, so few people really knew what to expect, which is a kind of seriousness. BCH has remained somewhat serious and an attack vector on bitcoin, too, because it continues to retain value and mining power.

Sure the BTG fork was not serious because it was framed as not hostile - and even currently, it remains a bit unclear about whether there is going to be much if any follow-up to it in terms of actual people being able to use the chain (or to claim their coins for BTC holders - at the time of the fork)
11-07-2017 02:38 PM
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BlurredLines Offline
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Post: #38
RE: Discussion: Upcoming Bitcoin Fork and Effects on Crypto Landscape
https://www.coindesk.com/2x-called-off-b...consensus/

"The suspension was announced today in an email, written by Mike Belshe, CEO and co-founder of bitcoin wallet software provider BitGo. One of the leaders of the Segwit2x project, he argued that the scaling proposal is too controversial to move forward"

So much for the hard fork. For now.
11-08-2017 01:04 PM
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RE: Discussion: Upcoming Bitcoin Fork and Effects on Crypto Landscape
Would you look at that. The prospect of free coins goes away (for now) and the alt floodgates open once again. Everything is pumping right now. I wonder if this will signal the end of the BTC pump, or will it simply cool off and recharge before resuming the bull run in the near future.
11-08-2017 02:08 PM
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Post: #40
RE: Discussion: Upcoming Bitcoin Fork and Effects on Crypto Landscape
Bitcoin is literally Grandpa's coin. When peple realize it's unusable for real life payment, all that capitalization will flock to cryptos that are actually useable (such as XRP or DASH).

And watch out for the release of Dash Evolution in June 2018. That will be gme changer.
11-09-2017 06:02 AM
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RE: Discussion: Upcoming Bitcoin Fork and Effects on Crypto Landscape
Dash Evolution? Do tell, please.

By the way, your screenname got a good chuckle out of me...
11-09-2017 06:09 AM
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Post: #42
RE: Discussion: Upcoming Bitcoin Fork and Effects on Crypto Landscape
It's a wallet that will finally make crypto usable for the layman, enable merchants to accept payments anywhere and users to pay each other with Dash for micropayments. When this happens, lots of money will probably flow from Bitcoin (Grandpa's Coin) to Dash. Especially that Dash payments are instant, very low fees and there is a "Private Send" option which can make your payment anonymous if you wish so.

https://www.dash.org/evolution/

https://www.dashforcenews.com/5-reasons-...tors-away/
(This post was last modified: 11-09-2017 07:58 AM by HardcoreSexpatMotherfucker.)
11-09-2017 07:56 AM
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bojangles Offline
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Post: #43
RE: Discussion: Upcoming Bitcoin Fork and Effects on Crypto Landscape
There's lots of crypto beyond bitcoin that can be used for purchasing, there's even a few with cards out.

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11-09-2017 10:20 AM
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HardcoreSexpatMotherfucker Offline
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Post: #44
RE: Discussion: Upcoming Bitcoin Fork and Effects on Crypto Landscape
(This post was last modified: 11-09-2017 06:27 PM by HardcoreSexpatMotherfucker.)
11-09-2017 06:27 PM
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Transsimian Offline
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Post: #45
RE: Discussion: Upcoming Bitcoin Fork and Effects on Crypto Landscape
Six posts and hardcore shilling/fudding in 5 of them.

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11-09-2017 07:26 PM
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Kid Twist Offline
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Post: #46
RE: Discussion: Upcoming Bitcoin Fork and Effects on Crypto Landscape
(11-09-2017 06:02 AM)HardcoreSexpatMotherfucker Wrote:  Bitcoin is literally Grandpa's coin. When peple realize it's unusable for real life payment, all that capitalization will flock to cryptos that are actually useable (such as XRP or DASH).

And watch out for the release of Dash Evolution in June 2018. That will be gme changer.

I can see this, as it seems there are challenges to bitcoin on a technical level, but its cap is so far and away higher, and still it is seen as weird spec, how do the other ones even get on the radar?

What's your prediction, then, sexpat?

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11-09-2017 10:09 PM
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niledelta Away
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Post: #47
RE: Discussion: Upcoming Bitcoin Fork and Effects on Crypto Landscape
(11-09-2017 06:27 PM)HardcoreSexpatMotherfucker Wrote:  Check this out: Dash 12.2 Update Doubles Block Size, Lowers Fees, As Bitcoin’s Segwit2x Fails

Name checks out.

I think many miss the point with cryptos. "cash" or "buy your coffee with" cryptos will struggle with their direct substitutes, i.e. visa, master card, fiat.

It's more likely that visa and master card will launch their own crypto. Alt coins like bitcoin cash and dash won't beat these massive entrenched entities.

The reason why bitcoin will thrive is because its competition is gold and standard bank accounts. It beats gold because its scarcity is fixed forever, its transferable easily and its storage cost is negligible. It beats bank accounts because your money appreciates as you store it. Plus, it is not lent out by a bank, which is also at risk of collapse with its fractional reserve model.

The only things driving the alt coins is greed, hope and a long shot that one coin, some time, will do something valuable.

The comparisons of the crypto bubble to the dotcom bubble are not apt. There are similarities but we're dealing with another new paradigm here.

Of course, shills like you are free to pump your alt coins in the hope that you sell before they crash.

Why is bitcoin different in this sense? Well, one, it has a use case currently in action (storage), two, it has been through test after test, and challenge after challenge, and, three, it has nine years of confidence behind it.

Moaning about high fees and low transaction times is missing the point. Bitcoin has evolved beyond that. Like I said before, you don't use your gold to buy your coffee. You use your worthless, depreciating fiat for that.

If the alts crash, bitcoin will thrive. If bitcoin crashes, the alts will die.
11-10-2017 07:46 AM
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