ETH is an actual ponzi. That's why it's so funny that people accuse BTC of it.

ETH and ICOs are the biggest scam out there right now.

No its not. A significant portion of the debt is owned by foreign countries, namely china, and they are losing reasons to hold it. And when you function as the reserve currency there is restriction on how you can play with your monetary policy. The states bailed themselves out of multiple crashes and their is great incentive to not prop them up as an economic superpower.

If foreign debt and domestic confidence moved to something like bitcoin, the usd could capitulate overnight.

Its not the likely scenario imo, or in other words it wouldn't be the end of the world but you are repeating what gold bugs say and not looking at the entire scope of the world and the world's history.

Name a a more stable and reliable one.

That's news to me. What is?

God damn there's more newbs in these crypto threads in the last few months then I've seen ever. It's turned to ****.

I need to be more disciplined and just be done with this. Might as well go hang out at bitcointalk.org.

What the **** are you ****ing newbs blabbing about? GTFO.

Better yet.. I'm out.. peace folks.

It used to be like an "upperclass" forum where your average ****** wasn't posting. Those days appear to be gone, and my time is more valuable.

GL to all

BT2 futures trading very low, 85% of miners are signalling for 2. What is happening here?

-Miners playing a feint to support another agenda (BCH)?
-Low vol market being manipulated
-Belief in a minority hash rate chain staying more valuable
-Whales come in and prop up seg1
-Both forks will survive and increase in value

goodnight, sweet prince

According to my sources, 2x is only ~50% to be successful. This would seem to be priced into the futures market.

Furthermore, signaling as a miner means nothing. Miners are in competition with each other, therefore signaling false intentions is in the game theory.



Here's an example of a *real* ponzi. Catchy melody though!

https://www.youtube.com/watch?v=IVoM_E5cZoE

It depends on how long they will keep mining it. Trezor has said that they will implement a splitting tool, but haven't made any promises as to when it will be available. It's more complicated than Bitcoin Cash but they have had more time to prepare. That took a few days, so I would guess this would be about the same. The likelier it is that there will be a permanent split, the more resource they will dedicate to it.

Bitfinex will also have to implement splitting, but they will make use of it internally as opposed to providing a tool for users to split their coins on their own. Whether they will allow trading of the B2X coins prior to having the splitting tool implemented in their production code or not, I don't know, but at least they have more of an incentive to have it up and running as fast as possible, as compared to a wallet like Trezor.

It's a bit of a risk to have your coins on an exchange, especially during a fork and in times of high volatility. Bitfinex I would be extra careful with, as they have screwed over user before in these types of scenarios, and they also use (and issue) tether instead of dollars. Having the coins there to get early access after the fork would have to be a calculated gamble, that I wouldn't make with any sizable amount. It is also a gamble on the price of B2X increasing immediately after the fork, because if you trust Bitfinex enough to have your coins there during the fork, then why don't you trust their futures? And if you think the price will still be high some time after the fork, then why not split them and send to an exchange when the tools are available?

link?

There are lots of articles about how some are mining bitcoin in Venezuela to make money because electricity is cheap but no real evidence that bitcoin is being used as currency in Venezuela at anything other than a tiny rate.

Also, all the comments about 'Well when we have hyperinflation in the USA'... are hilarious... they make it sound like that is an actual realistic possibility.

Bitcoin can't be used as a currency in Ven. It's too costly and you wouldn't want to part with a deflationary money when your fiat is inflating dramatically. That is not to say that its not a significant movement in V. The price of bitcoin increases faster in relation to the bolivar.

Didn't realize that coin market cap had the 2x futures and they are trading at ~1500 a coin.

despite venezuela being a crumbling hell hole, there are still wealthy people in Caracas. the ones rioting and standing in bread lines aren't the ones buying bitcoin.

Nooseknot,

You missed this.

I didn't miss it, you keep making snappy comments but not engaging in dialogue so its not interesting to me. I was more pointing to the future expectation, that we are headed for a world where the usd is not the reserve currency and the other fiats increase to par value at an equilibrium with the usd

tuned into the Bad Crypto podcast today(could have been an older one) and there is some sick number's being thrown out; 27k by Feb, a million within 3 to 4 years, etc. Stocks never get these kinds of appraisals, got the dollar signs in my eyes again, might make a big purchase.

it has no volume. dont read into it

all the fiat in the world / all the BTC in the world = target price

So that'd be the global money supply, which is
21 trillion

And the global BTC supply once all coins are mined, which is
21 million

Wow, what a strange "coincidence"...it's almost like it was intended to happen.

Anyways, that'd be 1million a coin, but there's always a little noise, you need noise for people to get a little weird, so that's why I say 800k per coin.

Hard to argue with logic like that. I guess I don't need to buy any more.

80 bucks?

Really?

this is so funny to read.

Crypto in most cases is not about changing the current but its about making FIAT money.

The market is no longer dedicated to innovation and change, its about making as much as quickly as possible.

Here are some cool stats:

There is $75 trillion in total supply.
There is 21 million BTC.
Only 16,665,498 bitcoins in circulation.
There are 21,915,936 bitcoin addresses
There are 21,915,936 bitcoin users at most (certainly it is much lower than this)
That is 0.7604 bitcoin per address on average.
There are 7.6 billion people in the world.
There are 0.2884% people in the world at most (certainly it is much lower than this) that have used bitcoin.

If the world was to completely adopt bitcoin as the new currency as it is today the value would be: 75,000,000,000,000 / 21,000,000 = $3,571,428.57 per bitcoin.

If only 1 percent of people use bitcoin the value would be: 3,571,428.57 * 0.01 = $35,714.29

7,204.33 (price of bitcoin) / 3,571,428.57 = 0.2017% more accurate measure of actual users in the world? This would also have to assume no correlation with current wealth and likelihood of getting bitcoin.


Sources:
https://www.quora.com/How-much-money-is-in-the-world
https://www.statista.com/statistics/...y-bitcoin-usa/
https://bitinfocharts.com/top-100-ri...addresses.html
https://en.wikipedia.org/wiki/World_population


Perhaps it is the case that bitcoin will reach $35,714.29 at a state of equilibrium. If we factor in inflation of 2% over the next 3 years. In 2020 Bitcoin could be worth $37,900.29 in true value.

1% of the world has to support bitcoin in order for this to happen.

I hope you all enjoy this as much as I did making it.


Edit:
Since all the coins haven't been mined yet the true value might actually be around 45k with 1% support in 3 years.

Damn. Maybe that 80 bucks will go further than I thought.