Bitcoins - fad or trend?

Discussion of all things crypto and blockchain.
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tdtwedt
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Re: Bitcoins - fad or trend?

Postby tdtwedt » Sat Feb 17, 2018

Long John wrote:Earth cannot contact other civilizations in the cosmos because Bitcoin miners are hogging the best GPUs, an astronomer claims. I kid you not.

https://bitcoinschannel.com/astronomer- ... rial-life/

I just knew there was a reason the saucers stopped coming here.



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Brick's
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Re: Bitcoins - fad or trend?

Postby Brick's » Sat Feb 17, 2018

Going down the DASH rabbit hole today I found FanDuel (an online one-day fantasy sports for money company) was sponsoring the Crypto Cup to be launched on Feb. 22, and the prize money will be paid in the cryptocurrency DASH! Looks to be two NBA contests: one is a free contest, the other has a $3 entry fee. Users will have until the start of the first NBA game on Feb. 22 to enter their lineups.

Payouts are: 15 Dash to the winner; 10 Dash to 2nd place; 5 Dash to 3rd place; 4 Dash to 4th place; 3 Dash to 5th place; 2 Dash to 6th place; 1 Dash to 7th place. The free contest pays out 2 Dash to the winner, 1.5 Dash to 2nd place, 1 Dash to 3rd, and 0.5 Dash to 4th. Winners will need a valid Dash wallet address to receive the funds, and can use any exchange that supports Dash.

From: https://finance.yahoo.com/news/exclusiv ... 29753.html

DASH $744.20 +4.04%
“Rationality belongs to the cool observer, but because of the stupidity of the average man, he follows not reason, but faith, and the naive faith requires necessary illusion and emotionally potent oversimplifications which are provided by the myth-maker to keep ordinary person on course.”

― Reinhold Niebuhr, Moral Man and Immoral Society: Study in Ethics and Politics

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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Mon Feb 19, 2018

South Korean exchanges took $650 million in fees in 2017, an increase of 65X over the year before. That's $650 million for the South Korean economy. Think their government will try to get rid of crypto trading?

http://www.coinfox.info/news/8903-dokho ... v-85-raz-2

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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Tue Feb 20, 2018

Investopedia: Bitcoin's Biggest Unresolved Tax Question: Hard Forks

https://www.investopedia.com/news/bitcoins-biggest-unresolved-tax-question-hard-forks/?
Gentlemen prefer Engelhard.

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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Tue Feb 20, 2018

The Bitcoin Regret Club

https://bitcoinregret.club/
Gentlemen prefer Engelhard.

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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Tue Feb 20, 2018

Those who bought at the Feb. 6 low point have almost doubled their investment in 14 days. That's without any parabolic spike; it's been a slow and steady climb northward. :turtle: :turtle: :turtle:


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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Tue Feb 20, 2018

Long John wrote:Those who bought at the Feb. 6 low point have almost doubled their investment in 14 days.

True at the time I said it! It seems to have hit a rubber ceiling at $11,750.

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Re: Bitcoins - fad or trend?

Postby 300Braveheart » Wed Feb 21, 2018

Long John wrote:
Long John wrote:Those who bought at the Feb. 6 low point have almost doubled their investment in 14 days.

True at the time I said it! It seems to have hit a rubber ceiling at $11,750.

Surefire way to manipulate the crypto price is to make a comment online with either a tinge of optimism or pessimism. The crypto bot-gods quickly go to work to make the opposite happen. Always have a friend who doesn't post any price predictions online, waiting with cash to buy or cryptos to sell, who will do the opposite of what you do but twice as hard, and then you can split the proceeds of their monstrous winnings.
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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Wed Feb 21, 2018

300Braveheart wrote:Surefire way to manipulate the crypto price is to make a comment online with either a tinge of optimism or pessimism. The crypto bot-gods quickly go to work to make the opposite happen.

Somewhere, somebody made a gloomy comment about Bitcoin. How do the crypto-bot gods decide who to take their cue from? :lol:

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Re: Bitcoins - fad or trend?

Postby Fabio » Wed Feb 21, 2018

Bitcoin below $11k

:pop:



































just thought I'd post this, in case someone forgot to check btc/crypto prices.
"LiteCoin, the original shitcoin" - Fabio 2018

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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Wed Feb 21, 2018

Fabio wrote:Bitcoin below $11k
just thought I'd post this, in case someone forgot to check btc/crypto prices.

There was a time when a dip or surge of a few hundred dollars was a big deal. Only a few months ago. Those were the days. :lol:

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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Thu Feb 22, 2018

silverpv wrote:
Anton also avoids most of the legal/govt topic of the video by discussing how it hides transmission speculating, only by saying they can't. What did they say about china and mining? Look what's happening with regulators.

To get a closer look there's a demo that's out.

I saw the developer of lightningramp that uses lightning network. The legalities are still in the air, but you decide. This image was pulled directly from his demo.

The thing that catches my eye for lightning in particular not his implementation, though its likely many implementations will work like this. Is the records listed on the main channel as i said keeps tabs on your accounts, not the peers. To me its pretty clear, your info is logged and recorded by the payment channels you use.

In the other image, more particular to the integration itself. You give the authority to the lightning channel operator to access your funds and your account balances.


When I look at LN & Segwit, I am looking at what the smartest developers are saying. This interview is from July 2017 but is already talking the features we are seeing being implemented now. I am in agreement with guys like Trace & Andreas. The larger and more difficult it is to run a full node (assuming mass adoption in the future) the higher likelihood that the philosophies and principles behind bitcoin as a PoW consensus could be corrupted.


We now have Bitfinex & Coinbase both adopting SegWit in the near future as well. With the newest software update coming, SegWit will be the default: https://www.coindesk.com/bitcoins-new-code-will-finally-boast-full-segwit-support/

Bullish.
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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Thu Feb 22, 2018

I don't have much patience for people who only post bad news about Bitcoin, so I don't want to be the opposite. We were in a steadily rising bull trend... until suddenly early yesterday we weren't. Hopefully a deep breath before continuing, but certainly possible that $10K-$11K represents a ceiling at this time.

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Recluse
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Re: Bitcoins - fad or trend?

Postby Recluse » Thu Feb 22, 2018

And we have this:
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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Thu Feb 22, 2018

Recluse wrote:And we have this:

Ah. That might explain it. Shorters gotta short. But the price was already lower than Dec. 15?

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Re: Bitcoins - fad or trend?

Postby silverpv » Thu Feb 22, 2018

Recluse wrote:And we have this:


Have to look at the volume too.

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Re: Bitcoins - fad or trend?

Postby silverpv » Thu Feb 22, 2018

SilverDoge wrote:When I look at LN & Segwit, I am looking at what the smartest developers are saying. This interview is from July 2017 but is already talking the features we are seeing being implemented now. I am in agreement with guys like Trace & Andreas. The larger and more difficult it is to run a full node (assuming mass adoption in the future) the higher likelihood that the philosophies and principles behind bitcoin as a PoW consensus could be corrupted.

We now have Bitfinex & Coinbase both adopting SegWit in the near future as well. With the newest software update coming, SegWit will be the default: https://www.coindesk.com/bitcoins-new-code-will-finally-boast-full-segwit-support/

Bullish.


I got my latest power node up. Keep in mind the whole purpose of crypto is to be decentralized and put trust into the system. The motto is trust code, not people. People have agenda's and don't always say what their motives are or if they purposely omit things. Don't look at what they are saying, also look at the implementation, otherwise it falls into the same tribal camps which decentralization is supposed to avoid. The most common theme in crypto is "Trust by verifying"

Here's my latest pickup, changed from mining to lightning. I'm also creating LN nodes for pi 3's that use this node as the default node. Since LN nodes are required for users to use them and LN nodes are more technical. I created an image on an SD card that you can plug into a pi3 and be connected to lightning. People like things that work. My main node will be connected to all the main payment channels. Then client LN nodes will have availability to all my connections with the liquidity. Users can change or add to other payment channels, but like we see with BTC nodes, most people don't change the default.

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cmiller17363
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Re: Bitcoins - fad or trend?

Postby cmiller17363 » Thu Feb 22, 2018

silverpv wrote:Here's my latest pickup, changed from mining to lightning. I'm also creating LN nodes for pi 3's that use this node as the default node. Since LN nodes are required for users to use them and LN nodes are more technical. I created an image on an SD card that you can plug into a pi3 and be connected to lightning. People like things that work. My main node will be connected to all the main payment channels. Then client LN nodes will have availability to all my connections with the liquidity. Users can change or add to other payment channels, but like we see with BTC nodes, most people don't change the default.

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Plug and play you say? :pop:
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Brick's
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Re: Bitcoins - fad or trend?

Postby Brick's » Fri Feb 23, 2018

silverpv wrote:Here's my latest pickup, changed from mining to lightning. I'm also creating LN nodes for pi 3's that use this node as the default node. Since LN nodes are required for users to use them and LN nodes are more technical, I created an image on an SD card that you can plug into a pi3 and be connected to lightning. People like things that work. My main node will be connected to all the main payment channels. Then client LN nodes will have availability to all my connections with the liquidity. Users can change or add to other payment channels, but like we see with BTC nodes, most people don't change the default.

Image


So does this mean you will be doing more validating and verifying transactions and less actual mining of the Bitcoin?

Check my change in your punctuation. I think you meant to say this instead.
“Rationality belongs to the cool observer, but because of the stupidity of the average man, he follows not reason, but faith, and the naive faith requires necessary illusion and emotionally potent oversimplifications which are provided by the myth-maker to keep ordinary person on course.”

― Reinhold Niebuhr, Moral Man and Immoral Society: Study in Ethics and Politics


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