Bitcoin mining and cryptocurrency thread

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buksida
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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Thu Nov 09, 2017 8:45 am

Fork off! Bitcoin hard fork cancelled, altcoins surging ...

https://www.coindesk.com/relief-disbeli ... uspension/
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Re: Bitcoin mining and cryptocurrency thread

Post by Vital Spark » Thu Nov 09, 2017 11:02 am

Aha! That explains the craziness that happened with BTC early this morning - it shot up dramatically to 7888 USD. Nice to see my altcoins moving up - they've been sleeping for a while.

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Re: Bitcoin mining and cryptocurrency thread

Post by STEVE G » Thu Nov 09, 2017 2:21 pm

buksida wrote:
Thu Nov 09, 2017 8:45 am
Fork off! Bitcoin hard fork cancelled, altcoins surging ...

https://www.coindesk.com/relief-disbeli ... uspension/
Just out of curiosity, seeing as how these markets are basically unregulated, what is to stop the people who make these decisions from making huge sums of money in what would normally be considered to be insider trading?

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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Thu Nov 09, 2017 2:40 pm

Nothing - they do, just as they do with pretty much everything else traded on this planet.
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Re: Bitcoin mining and cryptocurrency thread

Post by STEVE G » Thu Nov 09, 2017 6:06 pm

buksida wrote:
Thu Nov 09, 2017 2:40 pm
Nothing - they do, just as they do with pretty much everything else traded on this planet.
OK, you can get over ten years in jail for insider trading on the NYSE.

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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Thu Nov 09, 2017 9:22 pm

This isnt the NYSE or any bank or government controlled entity. And that is the appeal for early adopters.
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Re: Bitcoin mining and cryptocurrency thread

Post by Bluesky » Sat Nov 11, 2017 12:00 am

For anyone following bitcoin trading I have posted two links that may be of interest.
The first link is 'real time'(GMT) of market trades.
The second link is long margin/short margin BTC/USD

https://www.bfxdata.com/orderbooks/btcusd
https://www.bfxdata.com/positions/btcusd

It is interesting to note the building of short positions at the moment.
make of it what you will

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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Sat Nov 11, 2017 8:40 am

Good resources, this one does something similar: https://www.tradingview.com/symbols/BTCUSD/

There is a big sell off at the moment as the Bitcoin market corrects after unprecedented highs.

Strangely though another fork, Bitcoin Cash seems to be where all the money is going, it is trading at just under $1,000, up from $600 four days ago.
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Re: Bitcoin mining and cryptocurrency thread

Post by hhinner » Sat Nov 11, 2017 11:16 am

I'm surprised no one has mentioned the recent planned Ethereum fork (1st in a series) and the possibility of another unplanned one after the problem with the Parity wallet. https://www.investopedia.com/news/150- ... hard-fork/.

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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Sat Nov 11, 2017 1:52 pm

I really don't think they should fork the chain because the wallet company screwed up their coding. It isn't a problem with Ethereum as such.
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Re: Bitcoin mining and cryptocurrency thread

Post by hhinner » Sat Nov 11, 2017 6:10 pm

I tend to agree. Some reports put the locked away Ether at 360 million usd. So, on the one hand, if that amount eventually turns out to be irrecoverable would that tend to increase the value of available and mineable new tokens in the market? On the other hand, how would we feel if it happened to us? ETHUSD has been pretty static the last couple of months despite the Byzantium hard fork and this wallet problem, so I'll just stick with it and look to the long term.

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Re: Bitcoin mining and cryptocurrency thread

Post by Vital Spark » Wed Nov 15, 2017 11:22 pm

It's quite interesting that we can read all the projected ups and downs of cryptos from experts, and all the ins and outs of what the various currencies are planning, but an unexpected African military coup or round-up of rich Arabs has quite an effect on the price of cryptos - especially Bitcoin.

Bitcoin is now doing very nicely thank you. :D

VS

Edit: I've just had a look at Bitcointicker and the amount of coins being bought by single buyers is staggering. It's going into double and triple figures.
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Re: Bitcoin mining and cryptocurrency thread

Post by Nereus » Mon Nov 20, 2017 11:09 pm

Bitcoin hurtles past $8,000

https://www.bangkokpost.com/business/wo ... recent_box

SYDNEY/MOSCOW: Bitcoin’s relentless and volatile rally shows no sign of abating, with the world’s largest cryptocurrency defying growing bubble fears to hit yet another milestone.

Bitcoin rose as much as 6.7% to a record $8,224 as of 9.27am in New York. It’s been a tumultuous year for the virtual currency, with three separate slumps of more than 25% all giving way to subsequent rallies.

"The inflation in this thing is massive," Luke Hickmore, a senior investment manager at Aberdeen Standard Investments in London, said in an interview with Bloomberg TV. "When will it collapse? Who knows. It will cause a lot of pain."

Even as many sceptics call the asset a bubble waiting to pop, it’s becoming too big for many on Wall Street to ignore. CME Group Inc, the world’s biggest exchange, will start offering futures trading on bitcoin next month, while senior executives at Goldman Sachs Group Inc and Citigroup Inc have said they are researching cryptocurrencies and the blockchain technology that underlies them.

Recent volatility has stemmed from a pickup in people switching to alternative virtual currencies, notably bitcoin cash. That’s gaining popularity due to lower transaction costs and faster speed. New cryptocurrency iterations are springing up as disagreements over bitcoin’s design persist and opportunities for making a quick buck prove hard to pass up.

Bitcoin cash dropped 0.6% on Monday to trade at $1,184, down from a high of $1, 388 on Nov 12, Coinmarketcap.com prices show. Bitcoin has advanced more than 700% this year and now boasts a market value of more than $130 billion.
"I find it remarkable and somewhat frightening how, no matter how much bitcoin is pummelled by sellers, it simply bounces back even stronger," said Lukman Otunuga, an analyst at currency brokerage ForexTime Ltd. "Will bitcoin hit $10,000 before year end? This is the question every investor is asking."
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Re: Bitcoin mining and cryptocurrency thread

Post by Vital Spark » Tue Nov 21, 2017 12:13 am

Nereus wrote:
Mon Nov 20, 2017 11:09 pm
Bitcoin hurtles past $8,000 "Will bitcoin hit $10,000 before year end? This is the question every investor is asking."
I personally think it will, but I may be proven wrong. :|

I liken investing into crypto currencies to those sensibly advising people whether or not to buy a house in Thailand, i.e. don't gamble more than you're prepared to lose. The slight difference is that it's too big now to go down to zero. It just won't happen. So, even if you lose some money, you will walk away with a few baht in your pocket.

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Re: Bitcoin mining and cryptocurrency thread

Post by STEVE G » Tue Nov 21, 2017 12:57 pm

Bitcoin's High Transaction Fees Show Its Limits
https://www.bloomberg.com/view/articles ... its-limits

"At the time of this writing, the median fee paid to process the median transaction -- 226 bytes of information -- was 171,760 satoshis, or 0.0017176 Bitcoin, or $11.38. If you just want to pay for a cup of coffee or order something relatively inexpensive on an e-commerce site without waiting many hours for the transaction to clear, this is uneconomical."

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