This is on a rip, feels like the matching alt crash makes this BTC run more sustainable.

CME allows big money as well at the idea of big money to bring little money in. This polishes Bitcoins' speculative shine in the face of obviously worthless alts (98%). Looks possible alts can continue to blow back to their pre Jul pump (every single shtcoin up 10-50x) while BTC keeps on going.

If so this takes the coming ICO failure off the table as a catalyst for an overall crash. People can say those were businesses which failed for business reasons, BTC is a commodity/currency and doesn't depend on 'making' money.

Fork scaling issue will probably leave room open for 1-2 real coins to go up vs BTC, BCH and LTC are the strongest candidates.

Yeah, it's a hugely bullish development on several levels.

So weird: https://www.reddit.com/r/BitcoinMark...tf&sh=91d1e89e

What is really going to happen? His statements aren't going to tell you.

Signalling, nodes, 'reddit politics', dev support doesn't mean anything. What counts is how the people (single digits) who control the POW are going to manage an economic scarcity (space on the chain).

GDAX and Coinbase both sent out emails saying they would honour(my spellchecker wants to write honour, after a Google search I see why) the new coin. I never received such an email from Mycellium. Will Mycellium honour the new coin for sure?

if you own the private keys to the wallet, you will be able to load that wallet into some software that gives you access to the split coins. mycelium software may or may not do that for you, but the keys are still there for you. For example, i took my mycelium seed words and entered them into coinomi wallet to recover my BCH from those addresses.

its obv good of coinbase to do that. just realize the difference - that they must say something because they own your coins, whereas mycelium does not.

ty, ty makes perfect sense. I will probably be back after the fork then to ask some questions

Do we know how much of the pooled hashpower is owned by operators?

Post-activation, individual miners (who currently do not get to vote on signaling) in the biggest pools will decide which chain to mine. The exception here is ViaBTC (~12% hashpower), who will not offer immediate mining on B2X.

You are so delusional its not even funny. I have a modest amount of btc but I don't get excited over it at all, short term sure its great. Long term it looks horrible, the main things that made btc so attractive early on are gone. Instant payments = gone. Low fees = gone. Anonymous = gone. There are so many better coins out there technology wise, the only reason bitcoins rising is the big cult mentality people like you have.

nope you're fine for now. the dip will come just as soon as i'm in possession of 1k+ worth of bitcoin.

I have tried to figure out why you and others talk like this and the only feasible hypothesis I have is that you actually don't have bitcoin and are mad about it and want to hate on people whose lives have been changed by their decision to invest in btc early on.

The long-term prospects of bitcoin are exactly what IS attractive to investors. The small problems with it that you bring up will be taken care of in the future or (more likely) bitcoin hits mainstream and we just don't GAF about the fees and time it takes for a transaction. I won't post anymore here but we are in the early stages and the party is just getting started. Funny how we get labeled as "delusional" and "zealots" when if you look at the facts our guesses have so far turned out to be correct. Watch and learn. and if you ever get another chance to actually research something & take a risk based on that info rather than play the role of nit/hater/naysayer, I hope that you learn from this mistake and do it! In the meantime none of us "zealots" will be surprised to see it at 500k a coin in 7 years

You'd have more credibility in this thread if you curbed your use of hyperboles. Calling Bitcoin a "pyramid scheme" is a huge stretch. There are many holders who believe in the importance of the technology who aren't in it just to sell higher later. I can very easily agree with you that the price might be inflated right now.

Having a decentralized censor-less ledger is important. There is value in this. You say it's worth $500, and that's fine. But it's certainly not a pyramid scheme. The fact that people are overvaluing it has no effect on the underlying technology of Bitcoin, which is very sound.

I hope there is people beliving that bitcoin is a pyramid scheme and bring down bitcoin to 500 USD ! I need some cheap coins! thats like a ticket to the moon in 95% discount !

Bitcoin is enormously flawed, most every coin that has come after has improved on it. Yet it is worth far more, it's not the technology.

1 BTC 8 years ago is 1 BTC today.

This, of course, is meaningless.

The value of Bitcoin against other alts comes from the resilience of its technology, not by its innovation against them.

I believe when it comes to currency, credibility >>>> innovation, until a certain point, and it takes a ****load of innovation before it overtakes the value of credibility, which is what Bitcoin did against fiat. For an altcoin to take over Bitcoin, it needs to be in orders magnitude more innovative than Bitcoin at this point.

Could you please name some of these coins that have improved on Bitcoin, and how they have improved on it? I hear this thrown around pretty often but I've never gotten a good response.

100%

You keep forgetting that fiat is actually the worlds biggest bubble. You think we have $10,000 BTC with a better monetary system? I doubt it.

I think someone should do an analysis of coin movements around different price drops/surges over time.

It would be interesting to create some kind of "true believer" index - figuring out the % of coins that have stayed put across various timeframes during big price ups and downs.

I think all the data is available for something like this? It might give an indicator of what sort of floor there is if/when the mania pops?

Not so sure.

One very big problem is coins on exchanges, which are invisible. Even some people with bigger balances never move their coins out. I suspect somebody holding their coins on an exchange is also a lot more likely to sell and less of a true believer (not only bc it's a click away, but also bc that person did not bother setting up longterm cold storage). I suspect the inverse to be true as well.

Bigger OTC trades might not be able to be identified as such.

A small percentage. How is this relevant? Venezuela is an example of citizens avoiding a corrupt government.

Every government is corrupt in the world, it is a question of what degree. Venezuela is let's say a 9 on a scale of 1-10, USA is a 5.

Virtually all of the trade volume comes from people who are thinking like the people of Venezuela that they don't necessarily trust their government and its central bank to oversee the money anymore. People are deciding and voting with their money. I know because I talk to a lot of people, and the people who are finally deciding to get in after sitting on the sidelines for so long are doing so for these reasons.

That's what you don't get. Everyone thinks all the trade volume is speculators. It's not. It's people buying to hold for a long time in case it becomes the money supply. In a sense, they're speculators because they do hope their BTC is worth more someday, but at the end of the day they're just saying a big FU to the federal reserve.

Look at the first block. There's a reminder in there in case you ever forget why it was created. Brackets added by me.

You're very delusional

Heh. This may be my favorite butthurt thread of all time. Why does everyone take any criticism about BTC so personal? It's an opinion, no one called your wives ugly.

I'm very happy for you guys. Just waiting for the pictures of your boats. Post them already, jeeze.