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Old Yesterday, 02:56 PM   #20951
NuklearWinter
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Re: Bitcoins - digital currency

Quote:
Originally Posted by _dave_ View Post
If you're a BTC true believer, you'll prob sell your BCC asap and buy more BTC with it.
This sounds like the most likely scenario and thus the BCC price will quickly tank to ~10% of BTC within 48 hours, and ~1-3% of BTC within a week. BTC's price will likely go up over 3k with the demand to convert BCC to BTC.
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Old Yesterday, 03:35 PM   #20952
Mat Cauthon
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Re: Bitcoins - digital currency

Ignore BCC. The potential split that actually matters is if the miners decide to abandon BIP91 and start producing blocks that don't signal BIP141. That would create a chain split because of BIP148 enforcing nodes ignoring any chain that include such blocks.
It probably won't happen, but if it does there will be actual money willing to commit long term to the different chains.
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Old Yesterday, 03:54 PM   #20953
ThinkItThrough
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Re: Bitcoins - digital currency

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Originally Posted by NuklearWinter View Post
This sounds like the most likely scenario and thus the BCC price will quickly tank to ~10% of BTC within 48 hours, and ~1-3% of BTC within a week. BTC's price will likely go up over 3k with the demand to convert BCC to BTC.
That's what I thought on the Ethereum split. I was right in terms of ETH growing stronger, I was totally wrong about ETC going nowhere.

The fact Bitcoin works for so long is in itself a bit absurd, but we have gotten used to it. As absurd as BCC might sound, I'd not dismiss it right away, likely there are tons of traders who will outplay you.

Generally speaking, as a complete noob, do yourself a favor and LEARN more. Don't be lazy, BTC is not as safe as banking or email where you can simply lose your password and everything is fine. Laziness gets punished.

Having that said, your best action is to put your money on a big exchange that you trust (make sure you have "clean" non-gambling coins). I know everybody says to not trust exchanges, but for a noob who hasn't learned much yet, it's by far the most sensible choice.
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Old Yesterday, 06:35 PM   #20954
aggo
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Re: Bitcoins - digital currency

http://www.cftc.gov/PressRoom/PressReleases/pr7592-17
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Old Yesterday, 08:44 PM   #20955
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Re: Bitcoins - digital currency

https://www.bloomberg.com/news/artic...-cftc-approval
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Old Yesterday, 09:55 PM   #20956
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Re: Bitcoins - digital currency

Seems like huge news.

Not as good as an ETF but still rly good.
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Old Yesterday, 10:23 PM   #20957
tdoggtizzle
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Re: Bitcoins - digital currency

Could someone please confirm for me that BTC on electrum will be fine in the event of a fork on August 1?
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Old Yesterday, 10:43 PM   #20958
aggo
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Re: Bitcoins - digital currency

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Originally Posted by tdoggtizzle View Post
Could someone please confirm for me that BTC on electrum will be fine in the event of a fork on August 1?
yes.

you will have bitcoin on both chains if it occurs.

you may not be able to safely split the coins for a few weeks in electrum.
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Old Yesterday, 11:04 PM   #20959
onemoretimes
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Re: Bitcoins - digital currency

Guessing insiders took action on this a couple/few days ago when BTC ripped harder then I've seen it rip in a long time out of no where. Does anyone know what these derivatives would actually do? I've never understood them much, but in general I believe they are kind of scammy. Maybe BTC will be more legit because things are easily audited.

My initial impression is that they said they approved fully backed trades. So essentially someone with 1000BTC, who wants to hedge, instead of sell, can sell to someone via a contract, and still hold on to their btc?

That sounds decent and all, but I have a feeling how this game is going to end, with a hack. Honestly, bitcoin doesn't need derivatives or a ****ing ETF. Don't get me wrong, I'd love an ETF just for price appreciation, but all they do is help speculators speculate, and they don't use it for one bit of it's technological use. People that buy bitcoin should be storing it themselves or using it. Otherwise stay the **** out of the game.


Also how big is this news. It seems like it could actually be pretty damn big and the market hasn't reacted all that much. Wondering if there is some cash to be made by upping my position.

Last edited by onemoretimes; Yesterday at 11:18 PM.
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Old Yesterday, 11:10 PM   #20960
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Re: Bitcoins - digital currency

Quote:
Originally Posted by tdoggtizzle View Post
Could someone please confirm for me that BTC on electrum will be fine in the event of a fork on August 1?
+1 to aggo.

I have all my BTC on electrum currently fwiw.
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Old Today, 12:58 AM   #20961
aggo
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Re: Bitcoins - digital currency

no....

You will be able to buy/sell bitcoin options through your brokerage before the year ends (if you believe the CEO). So anyone can buy puts/calls officially, soon.

I am hopeful that those whove posted about believing that bitcoin is way undervalued or overvalued and looking to long/short it will look at LedgerX's product as something worthwhile to use. You wont need to own any bitcoin soon to make a bet on it, and it potentially could help provide liquidity to the market.

A lot of wall street $ that is already in Bitcoin have traditionally used mETH as a hedge against a HF or massive zero day. Being able to possess options trading lets them de risk their exposure to bitcoin by owning options. So now they can directly hedge, instead of just owning another altcoin which may or may not be correlated to Bitcoin's success/failure/price/etc.

Last edited by aggo; Today at 01:04 AM.
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Old Today, 01:05 AM   #20962
heltok
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Re: Bitcoins - digital currency

Having BTC in Electrum is ok. Just export wallet to BCC client if you need to transact until Electrum support BCC if BCC chain survives...
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Old Today, 01:06 AM   #20963
aggo
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Re: Bitcoins - digital currency

Quote:
Originally Posted by heltok View Post
Having BTC in Electrum is ok. Just export wallet to BCC client if you need to transact until Electrum support BCC if BCC chain survives...
you are literally becoming worse than Kazuya and two shae.


If you guys think its safe to send bitcoin over to a site (a country, really) that just went through massive AML/KYC restrictions where even non-chinese customers couldnt withdraw bitcoin for over 6 months because the exchanges were scared ****less of the pboc, then sure, promote BCC and send your coins away!
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