Yes. Bitcoin Cash is about $450 so you should have some of that as well. It forked August 1.

Also Bitcoin Gold forked so starting tomorrow you should have BTG as well.

I don't the poker sites credit forks. They likely just keep the profit. Even Coinbase doesn't support forks.

Unless you have the coins yourself, or there is clear direction from the exchange you on, you likely won't receive forked coins.

Depends on your life situation, I only mentioned it because inheritance/life insurance payout are one of the only buckets of money I consider "different". Someone specifically left you that money, I would be conservative with it. Think about it this way - if someone told you they could see into the future and the 25k you left for your kid was invested in one stock and they lost it all, how would you react?

I would say either use it now for something specific to make your life better or put it in a 529 for your children or the vanguard 500 or total stock market index and leave it there for 15+ years. Of course, ultimately it's your choice. Just a suggestion.

i dont understand forks who wants to explain it to me.

even a link to a simple definition on why they exist would be cool

Its open source software, you can copy and modify it if you like. Satoshi said it would never work. toothsayer is a moron.

ToothSayer dont lie to yourself and buy a ticket to get a seat at the spaceship ! we are going to the moon baby!

To the moon!

Seriously can someone please get kazuya back posting about crypto

lol

Bitcoin has a predefined set of rules.

Imagine a fork on the table. Handle on the left side. Bitcoin moves from the handle to the right, in a chronological fashion.

Then someone wants to change those predefined rules. Rather than starting a brand new chain, they keep all the prior history of bitcoin, but make a rule change. Because the old unchanged rules remain in existence as well, there are now 2 sets of bitcoin. Original Coin and Forked Coin. So they verge off on separate paths.

Because they keep all the prior history, if you own bitcoin on OG chain, you now own the same amount of coin on the forked chain.

Wat? You are such a phony.

Is there any price that bitcoin could attain that people would have to believe in it? If not price some other measure of success?

Obv everything has someone hating on it but as of right now it feels like both sides have good arguments as to why or why not bitcoin is good.

I think it needs to be official govt currency for ppl like TS to believe in it. Even then, I'm sure there'd be some reason to hate on it.

As a person not involved with Bitcoin at all and sitting in mostly cash, my opinion is I missed the boat and that at this point I would never put my money in. I hope you guys all become millionaires, I really do, but count me out. No way.

I've never seen anything move like this in my entire life. It's really interesting to watch. I hope you guys crush it, but as to how this all shakes out, I'll just be watching.

love TS posts in general, but the are depressing in this thread, even if you aren't a bitcoin fan, the gold is shiny argument is just sad

Get a wallet, give me your address and I'll send you some. Get some skin in the game. It's also still so early.

Transaction volume sans illegality, gambling and speculation that is even a sliver of one Western country's trade

Trading volume that isn't a very tiny fraction of currency volume.

A few transactions a second is a joke. Illegal activity and speculation covers them all. If Bitcoin becomes half as used as PayPal for real world trade/transfers - which is itself a very tiny fraction of world trade - then it's a success.

You know, any tiny hint that it may become an actual store of wealth and a used transaction method apart from a speculation bubble/illegal activity.

Price is a pretty worthless measure in a pyramid scheme. Plenty of people have gotten rich off pyramids. This is the Internet + social media version of a pyramid, which reaches far more people and whips them into a bigger frenzy.
You pick the one thing I'm definitely correct on? Weird.

Can someone educate me about how much money it would take for someone (Jamie Dimon or similar?) to wreck the market by shorting?

There are a lot of people who are late to the party. Many of them are trying to get rich quick and probably have weak hands. I think it would be interesting to estimate how much money it would take to drop BTC by 20, 30, 40%+ which is probably going to cause a big chunk of people to panic sell.

Also, Is there a way to estimate the borrow costs before this goes live?

Thanks!

The last 40% drop was in September. Didn't see too much panic imo

Got bought pretty quickly. The last time the price touched the 200 day MA was August of 2016, when it touched $500 for less than a day.

I don't get how cash settled futures are suppose to track the price of BTC from exchanges. Won't the volume be way out of whack?

Like you could go long or short say 10,000 BTC at the current price of $6000 in the futures contract and then right before settlement the same dude puts a large market buy/sell order in of say 2000 BTC on the markets the CME uses to calculate the price. They will get paid 5x the amount on their large bet. What am I missing.

most futures contracts never result in delivery.


the whole custodial issue is solved for instituitions: they dont want to ever touch BTC, usually because it means massive redrawing of their charters and agreements as well as associated risks of storage of physical products. So they strictly deal in USD.

its win-win for them.

Most futures contracts never result in delivery because most futures are hard as **** and sometimes expensive to take delivery of. Kind of tough to store an oil tanker. Gold needs to be insured and delivered by armed vehicles. Bitcoin on the other hand has to be the single easiest thing to take delivery of.

It's fine if most don't end in delivery, the problem is that at least some should. This is what keeps the numbers "real". There should always be an option to take delivery if you meet the quantity threshold. If nobody has an option to ever take delivery then what the hell is to stop someone from shorting the **** out of it and at settlement time they just pay you the $1000 futures contract price all while it's trading at $6000 on other exchanges?

I know they say the contracts price will be decided by "exchanges" but how is that possible if the supply and demand of the futures is totally inconsistent with the exchanges? You might have Jamie Dimon shorting the farm.. who's going to buy up all his shorts to keep the price in line with exchanges, especially when they can't take delivery and arb it?

I remember reading an article on bitcoin, the general premise was because bitcoin can be traded 24/7 around the world it basically gets to be open to trades far more than a normal exchange.

Hell take the NYSE which is closed every day of the week at certain times and off whole days for weekends and holidays.

Effectively bitcoin can be traded all the time, so we get a market that matures way faster than a traditional one.


Also seems massively +ev to get at least one bitcoin, for the some of the time it goes to 50k a coin in like 3 or 4 years. Assuming ~6k currently is an amount you can afford to lose.

Fair enough, just trying to figure out the downside risk and what it would take.

Are there any estimates out there for how many of the coins are held by new money in the past few months compared to the past few years?

Perhaps it's more accurate to say those who got in recently will have weaker hands on average compared to those of us who have weathered the storms?

the number that interests me the most is what % of coins are currently held in storage by exchanges and miners.

could this recent huge price surge be caused by the supply of circulating coins becoming incredibly small?

since BTC is infinitely divisible, it doesn't really matter that the supply is limited, because everyone can just keep buying in. but if everyone is just buying the coins and saving them, the price swings are going to become absolutely insane