Lol.

Bitcoin up $400 in 30 minutes. How is this possible?

$3900 @bitfinex

Hint: The word I'm looking for rhymes with "trouble"

Why you have to take a piss in the punch bowl?

double?

Blockchain vs. Bull****: Thoughts on the Future of Money

Hey all i like feedback about hitbtc exchange website for those who have used it.


I use shapeshift to convert bitcoin to altcoins etc. Of course there is a huge fee with this when you count how much say LTH or other altcoins you get when converting btc. I believe i paid close to 250 dollars when converting 5000 dollars of another coin etc. I heard that is negative of shapeshift except there is no verification.


I read bittrex is good if you dont want to pay these ridiculous rates but they do require verification. I heard about hitbtc and they do not require verification. Is this true? If so i have few other questions.


So when converting btc to eth or ltc for example, so you are getting very close to the amount of eth or ltc with it? I read theres only a 0.1 percent fee? Thus if you convert 1000 worth of bitcoin ... you will get around 990 or so in eth or ltc? If you do this with shapeshift, you would get like 975 or so based on using shapeshift. I believe bittrex offers the lowest rates at 0.0025 percent. But 0.1 percent is still very low. So that mean one could do 5000 worth of bitcoin... and get back like 4950 worth of eth or ltc WITHOUT VERIFICATION?


I read you need to create an email address. So with that, thats all you need?


The other thing is do you need to use your real name in case something goes wrong? Or its no big deal using a real name since well there is many people in the world with same full name as you?


Im guessing the only time you need to do verification is when you do a bank wire or transfer and sell these coins or bitcoin for usd to your american bank account right? But if you only need to convert btc to eth or ltc or vice versa, this is probably the number 1 exchange to do it with where you do not need verification?


Also are there limits in total btc you can do without verification? So someone could transfer like 3k worth of btc for another altcoin or vice versa a day without any issue? Or there are limits? And if so, what are these limits? Because it seems like this would be the best exchange where you don't need to send in documents etc? Do i need to at least put a contact number on it? I heard bittrex allows you to do without verification as well but now the limits are like 0.0025 btc which is useless for most ppl.


Can someone who have a hitbtc account answer these questions? Im still surprised here because that would mean couldn't someone do lots of btc to eth or other altcoins and not get verified? Im just surprised an exchange would allow this. Shapeshift does allow it but of course there are huge fees for it so im curious about hitbtc.


Thanks.

Agree. I look forward to all the FUD slinging between now and November.

September-October may present the last great buy opportunity for a long time, then hope to sell before Tether goes tits-up. Ultimately, I think the exchanges and miners will back out at the last minute despite never having a legitimate intention to stick to the agreement. The Bitcoin name and ticker is too valuable to just hand away to Bitmain with its team of two inexperienced protocol developers.

Agree with all of this. It might be tough to time the tether crash though, I have a feeling it will strike unexpectedly, much like black friday did. It could also come coordinated with a crackdown on exchanges dealing with certain ICO coins.

4k boys.

They are trading at a ridiculous 4k USD which is hilarious for a currency that no one uses.

these tulips are expensive.

Strangely enough that statement is still true. Bitcoin is still hardly used outside of gambling and the black market. I would have thought that by now it would have gotten a lot bigger in remittance. You can buy with bitcoin in several places in Holland but when asked those vendors all say their bitcoin volume is not increasing.

let's wait until Lighting Network & RSK before we make any judgements.

we also just passed a huge bottleneck threshhold that's been artifically supressed for 2 years so adoption should increase significantly now.

What is Lightning Network and RSK? Why should we wait before we make judgments?

what threshold is that? why has it been artificially suppressed? How has it been artificially suppressed? Why should adoption now increase significantly?

http://lmgtfy.com/?q=lightning+network+bitcoin

http://lmgtfy.com/?q=rsk+bitcoin

With take down of alpha and hansa markets, Bitcoin is still processing 350k txns/day.


Keep up that wishful thinking that no one actually uses bitcoin

Lightning will be a networked layer of nodes that leverages the security of bitcoin's network and blockchain. It re-creates the incentive structure of bitcoin onto a sub network that is tied to bitcoin's blockchain. This will allow for trustless transactions to take place between people without the need to broadcast every transaction onto bitcoin's blockchain. If successful and distributed, it may be a tool that allows for instant and settled transactions with a very high throughput for transactions per second.

I would say your statement is likely true. Growth outside of core markets will take a lot of time, simply because there is no economic pressure or incentive. And at the end of the day, that is the biggest driver of adoption of any kind.

Anybody selling/buying "normal" things with BTC in a B&M is a true believer (or fool, often those two are close), not because it is cheaper.

Real use cases are not buying coffee. Real use cases means creating your own economy, ideally with closed loops (once fiat is converted to BTC, it stays btc, the whole chain uses btc).
The only people who do this are those who can afford variance, are optimistic on the price... OR they have no other choice (online drug dealers)

It's not really that complicated . Who cares about Alpha and Hansa, next generation will be better and bigger. And maybe somebody will not leak their email on some forum )).

This is a strawman. I probably have more BTC volume than almost everyone in this thread and none of it is explicitly legal. I asked several posters for legal use cases (that they are actively using) and wasn't presented with anything.

Sure you can use it to purchase things without fraud protection or a discount, but why?

Not to speak of holding period. If bitcoin is used by corporations to do quick transactions, they will likely buy bitcoin, and the receiver quickly sells it for their own currency to pay suppliers, wages etc.

So corporation 1 sends $1 billion into bitcoin exchange. Deal goes through, they buy bitcoin, send it to corporation 2's bitcoin account. Who quickly sells it for let's say Australian dollars. Hit's the cash out button to their bank, so they can pay suppliers etc, who likely don't want to hold some volatile impractical cryptocurrency.

So if that process only takes one day, $5 trillion of annual volume (more than a quarter of US GDP) supports only about a $15 billion market cap. If that process takes 8 hours on average (between buying btc of corporation 1, and selling of corporation 2), total justified market cap is only about $4 billion.

Same with remittance or online gambling.

So literally the only way bitcoin can go sustainably go to $10-20k or more, is if it replaces fiat currency. Now after 8 years, I barely see anybody use it instead of fiat. Even in countries with failing currencies. A lot of legitimate merchants who accept bitcoin report that barely anyone uses it. But it will happen any day now!

For some reason I am the only one talking about this, nobody seems to understand this basic concept. Even Damodaran failed to mention it.

My understanding about Rootstock is its a sidechain that distributes tokens (called RSK tokens) with a 1:1 peg to Bitcoin.

You "exchange" Bitcoin for RSK by sending Bitcoin to a RSK wallet (hosted by one of 20 RSK "federated" members which includes most big exchanges and companies). After around 12 hours your Bitcoin is locked and RSK released.

RSK transactions will be much faster, but in exchange for speed, you lose trustlessness.

What I am trying to determine is whether RSK tokens will be deposited and traded on the exchanges. I assume a substantial portion of Bitcoin transactions are to/from/between exchanges, and traders may prefer to balances on Rootstock instead of an individual exchange, so they can quickly move to/from/between exchanges.

Technically the fiat value of BTC/RSK ratio should always be 1:1, but I think its possible people would be willing to pay a small premium for RSK in order to circumvent the 12 hour "BTC <-> RSK" exchange period.

Although given the sheer amount of coins held on exchanges and webwallets, general users may not give a **** about trustlessness anyway. They might prefer to hold RSK to avoid long confirmation times. Sports bettors who need fast deposits to catch moving lines will certainly keep their gambling balances on RSK (if merchants accept RSK).

Should be interesting. I've probably got this all wrong though.

I currently use it as a liquid investment that protects against inflation and diversifies my investments.

As far as using it to purchase goods, services. I think I would use it a lot more if the barrier to and from usd was less. I used it a lot more to purchase goods and services when GYFT was offering 10% bonus. I still use it to trade for stars funds to get the best markup.

It is very useful to make and receive payments across boarders around the world without jumping through various hoops.

I agree but changing habits like this always takes a generation to adopt. People still use checks.