Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 18414. (Read 26711388 times)

I don't see why not. An ETF on different exchanges. That's why I think it'll go quicker. Each exchange won't want to be known as the losers that couldn't put together an ETF.

I think a bigger or at least equivalent concern is that a centralized mining cartel can simply veto or slow the progress of any new changes, no matter how beneficial or competitive they might be to other FinTech.  Or that Todd and company are only willing to push changes that the mining cartel signals that they agree with ahead of time.

I think that this could already be the case. I don't think that Satoshi ever envisioned core developers colluding with miners per se, correct me if I am wrong here.

We will only know if this arrangement truly exists or not, only if/when the core developers ever push a change that miners are not in complete agreement with.

Only time will tell I guess...

Pardon me, but what guess and what that $40 grand ?

I was asking about this market and any numbers you are aware of or even an estimate


And still you didn't answer my question, could we have 2 ETF's ?!

Thanks

Your guess is as good as mine. I like Cameron's guess of $40,000

As far as the Gibraltar ETI...I thought there was already something similar in Switzerland. I'm really not a big stock market guy, I just think it opens up to a lot of big investors. Plus I could invest my tax deducted retirement into bitcoins (if I paid taxes).

part of me feels all this, node count,  minning in china, bitcoin "centraliztion", is all completely over stated. sure its important to maintain a certain level of decentralization, but I dont think we are anywhere close to a dangerous situation.

but ya building in some incentives that promote decentralization can't hurt.

I would like to see full-nodes have more weight when it comes to choosing which new features get adopted

they did this thing which allows minning to express there willingness / readiness for any particular BIP.
they should allow full-nodes to do the same thing.

i guess its already like that, i could choose to run BitcoinUnlimited, and there by express my willingness to accept bigger blocks. but idk I just dont FEEL it would make any difference.

Thanks for the reply, Elwar.

1.
Any numbers about that numbers, even an estimate ?

2. Do you think we could have two Bitcoin ETF's in two different stock exchanges ? Probable ?

3. What do you think about this

https://www.gsx.gi/article/8292/gibraltar-stock-exchange-welcomes-bitcoineti

4. And this as well

https://www.reddit.com/r/Bitcoin/comments/4uiny2/vontobel_issues_first_bitcoin_certificate_on/

Thanks

You are not really going to get any argument from me that there is a need for a large number of miners and mining operations, and so there does likely need to be various kinds of protections regarding centralization.

My post was mostly responding to the assertion that the halvening had potentially caused some kind of meaningful drop in the hashpower, bitcoin's price and the implications that bitcoin was in a perilous state because of such supposed drop in mining power...

I will concede that due to risks of centralization there is a need for balancing and continuing an incentive for a relatively broad spread of miners..... yet I don't think that the halvening has had any meaningful impact yet on such centralization dynamics (if any exist).. and ultimately it seems pretty likely to me that BTC prices are going to go up because of the halvening - even though it could take a year or longer for such BTC supply cuts to become more painful in terms of availability of coins and causing BTC prices to increase more.

In the shorter term, it is much harder to really make meaningful assessments regarding which small changes here and there (including the halvening) are causing what, because there are a lot of changes going on all of the time in bitcoinlandia and BTC prices are continued to be pushed in both directions (with relatively low volume in recent weeks  - even around the time of the halvening).

I don't know. If they are required to fully back all investment euros with actual Bitcoin at 1:1 ratio, then it's bullish. If regs allow them to do partial reserve, not so much.

what if we have 9billion GH's all coming from 3 mining pools...

i agree with you 1,000,000 GHs is more then enough to secure the network from outside attacks

but the concern ( altho unjustified )  is that minning is becoming more centralized which will make it easyer to push new changes onto the network.


i think that the strong incentive miners have to keep users happy makes this concern of a mining cartel "taking over" a "Todd"

def.
Todd : (1) irrational fear base on the premise that miners might work together in an effort to undermine the very network that sustains them.

Ever since the Paris shootings there was talk about the guns coming from the "dark web" using bitcoins. Soon after the EU called for a response. A few weeks later they raided people all over the EU looking for "dark web" activity. They made this huge announcement about how they hit all of these "bad guys" listing such prizes as some drugs, some money and one guy had instructions on how to produce meth on his computer. They hailed this as a great victory. No weapons or anything related to "terrorism" but boy did they show those "dark web" users in Europe to stop using that evil "dark web".

yeah, let's get caught up on meaningless information and follow microchanges in the hashrate.

We are not really quibbling about the actual hashrate and its changes, but instead about the significance of such changes that we recognize to exist.

For ease of reference, here's the actual hashrate in the past year.


https://blockchain.info/charts/hash-rate


As we can see, the hashrate has been going up significantly, and we can zoom out, as well to see how exponential such growth has been.

Wake me up if the hashrate goes below 1,000,000 GHs, and even that level may not really be that significant, but at least there is some kind of potential meaningful change if the hashrate starts to go below that point.


You expect to continue to have ongoing exponential growth in the hashrate at all times, or otherwise bitcoin is broken?, which seems a bit ridiculous..

Even with a hashrate of 1,000,000 GHs is a very high and well able to secure a BTC market cap of 10x or 100x higher BTC prices.

lol right, and so the only names that will ever appear there will be legit users using bitcoin for legal things.

what do they hope to accomplish?

I'll be around a lot longer than the EU. No worries.

Yes, your mischief and foolishness. Monkey business, if you will.
EU authorities had just about enough of your crypto shenanigans, Elwar

That's why the EU needs disintegration.

We need more BRexits.

Tomfoolery? I am very open about my use of bitcoins and whom I am. As part of my clearance I never do anything illegal outside of a few traffic violations. The EU is free to watch how I spend my bitcoins, maybe they will learn something and adopt it themselves.

No idea. We've already got GBTC and the KNCminer ETN. It's hard to say whether they've done a great deal for Bitcoin as a market entity. It's positive stuff all the same and slowly adds up to some sexiness.

I hope you're all right. I was a small miner who can no longer afford to mine based on local electricity cost. Just believe there are a lot of others in the same boat who will stay shut down unless the BTC price raises significantly. Don't see lower difficulty having as much of an impact.

https://foundersgrid.com/bitcoin-price/

Looks like your tomfoolery is coming to an end, Elwar...

http://bitlegal.io/2016/07/24/eu-commission-to-propose-central-database-of-virtual-currency-users/
EU Commission to propose Central Database of Virtual Currency Users
July 24, 2016
520

The EU Commission in its latest proposal to regulate virtual currency exchanges and custodian wallets (Proposal) suggests a further amendment to the 4th Anti-Money Laundering Directive (4AMLD) which may result in the creation of a central database of virtual currency users (Central VC User Database).

Yes, I follow the green line as it is the smoothest.  That chart is only 2 months but the recent decline looks different.  There are many things that contribute to fluctuating hashrate and it would seem that the halving is a significant thing.  Yes it's a bit early to tell.