Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 19559. (Read 26609705 times)

Ah, AlexGR's FUD sidekick...

That's fine. Online wallets and exchanges are not supposed to do fractional reserve banking. So there need not be a run, since all the deposited coins are available (you don't need to run faster than your fellow account holder, because the coins may run out). And if there is one who cheats -- al the better if that one is singled out as a cheater.

You're not going to stop spreading FUD, right?

I might steal this one. 

Here's mine from another thread:

Actually, I am on the same page as you too, regarding the mostly accumulating and holding, and strategically and intermittently cashing out as the price is likely to increase.

I read the SSS plan, and I have created my own variation of that involving both cashing out and trading... the trading part I began in October 2015, and it is intended for me to continue to accumulate BTC and to bring down my average cost per BTC.  In essence, as these aspects of my holdings adjust, then my modified variation of the SSS plan adapts as well in my own formulaic ways that works for me to create a plan ahead of time but to tweak it in logical ways that works for me and is not emotionally driven.. and includes a long term expectation that BTC prices are going to continue to appreciate in ways that provide larger overall returns than other assets.

Regarding my points about regulation and liquidation, I am describing dynamics that influenced my decision in the beginning about whether and how to get in, and even though there seemed to be various challenges in these liquidation and regulation regards, those challenges have largely disappeared and have become less prominent in the bitcoin space.

lol, this is the best!

it is after school here, after taking a look on this chart, I got that US matter: the bucks are going up and starting to break the record; leading the bitcoin price being pulled down.

FYI this kind of attitude seems not to be acceptable, this isn't a constructive method to say.

He was proposing Classic to go with CPU mining and leave the 1000 PH/s mining industry to Core.  At this point, I don't know whether he was trolling, making some statement, hoping to trick the Classic devs, calling bluff on their commitment to open governance -- or genuinely believing that they would like and accept the idea.


Was it you that I debated with, 1-2 years ago, about the power of miners to change the rules?

Anyway, I know that this move ("red button"? "poison pill"? "hash seppuku"?) was the official defense against an "abusive" mining majority.  Of course it can be done: anyone can create a modified version of Core and make suitable incompatible changes to it, thus causing a hard fork and a coin split.  And -- funny thing -- it would create a "bitcoin" that I could like, with tens of thousands of independent miners, with not too different hash power.

What is delusional is the belief that the community would follow them, consider their altcoin to be "the" bitcoin, and discard the coins that they have in the miners' branch -- so that their altcoin will retain the pre-fork price of bitcoin, while the miners' coins will become worthless.

It is like the Captain planning to "defeat" a sailors mutiny by rowing out with the First Mate in a small lifeboat, and declaring it to be the real ship.

For one thing, some of the largest mining pools are closely connected to the largest bitcoin exchanges in the world; so, if a majority mining cartel decides to force a fork, these exchanges (and their customers) will use and service the miners' branch.

If that is a serious option, why don't they do it now, and remove the risk of miner concentration?

The delusion is in thinking "bitcoin is where we, the Core devs" are. 

I could do that myself now: make a copy of core, change the PoW formula, and presto: a hard fork happened, and the coin has split.  If the 1000 PH/s is not important, what is the difference between my bitcoin and their bitcoin?

It's the same faggots dribbling the same nonsense in this thread.

some Juan Juan faggot, some billyjean faggot, i can't even remember your stupid names.

I can't even be bothered ignoring you retards, I just scroll down past whatever you idiots say.

Why don't you faggots get a hobby or something, you're the kings of the special olympics, absolute fucking retards.

Sell your coins or don't i dont give a fuck, i'll be the one having the last laugh when Bitcoin goes through the roof.

Coin



Explanation

I don't think in terms of liquidation or exit. In my planning, I have built a number of laddered 'diversification points', none of which, itself, divests a large percentage of my stash. Risto codified this as his 'SSS' strategy, though the concept is obvious in and of itself. The basics being 'every time BTC value increases by N*, sell M%', where N and M are constants of your choosing. In my case, each diversification point is enough to make a significant upgrade in lifestyle, without depleting principal.

Either this thing goes where there is no reason to exit, or it crashes to nothing. For me, there is no in between.

Stolfi doesn't really like to account for actual material and relevant facts, he would just prefer to select his own spin on minute and unimportant facts and then give grand eloquence to some trivial matters attempting to make those trivialities appear to be more centrally important than they are.  It's his MO.

Actually, I think I agree with your every sentiment in this post.... and the longterm odds seem to be pretty good for bitcoin, whether it is 80% or some other number in that ball park.

Surely, bitcoin could regress in various ways, but I did get involved on the cusp of considerable worry about government regulation being a potential death knell or at least something that could really and meaningfully stifle expansion.

These days, the regulatory threat, to the extent it exists, seems to be a lot more indirect than what had been previously considered.


Furthermore, initially, I had been thinking that if I get into this thing (bitcoin), what are my liquidation possibilities and potential exit strategies.

Even though liquidation avenues may not have been good for bitcoin in the short term, over 2014 and 2015, these building of liquidation avenues are likely very valuable for bitcoin's long term prospects and just its becoming known and useful in a variety of ways for a large number of people in all corners of the world.  Yep, probably, we are going to see a lot more liquidation options and even abilities to use cell phone interface in poor countries, which will bring additional liquidation and utility to bitcoin.

It isn't accurate because JorgeStolfi was either trolling or stubbornly ignoring facts. I already explained to him a few days ago, complete with numerous quotes (though I missed that one -- thanks for finding it), that satoshi was well aware that Bitcoin not only would be a speculative asset but that it was absolutely expected and even required that it would function that way.

Yeah, and I was aware of (and even following) Bitcoin for something like a year before I bought in too. And today, some other person is just becoming aware of Bitcoin - and they'll buy some months down the road at a large increment in price. And _they'll_ score a hundred-bagger. If this thing goes where I'm 80% convinced it is headed, we have several orders of magnitude to go. Still opportunity for riches for everyone.

If _we_ don't F it up.

And if we are capable of F-ing it up, it wasn't the right solution anyhow.

Hey faggots you done selling? You waiting for the next faggot-in-bed-with-the-kike-banksters to declare bitcoin dead before you sell the rest of your coins?

Grow a spine you fucking faggots.

Apparently the only one who got trolled by Luke-Jr was you because he wasn't trolling. He has been proposing this for some time and it has always been on the table.

I know it doesn't fit your narrative about how miners control everything, but it has always been, and always will be, the option of users to opt for a PoW-reset if miners are viewed by the consensus of economic majority as misbehaving. (I don't know that there is any such consensus and probably Luke-Jr does not either, but who knows, maybe there is or will be.)

Just read that thread for amusement. Saw this post


This isn't really accurate. Satoshi knew exactly where it would go and he never dismissed Hal's outlandish predictions about the value of Bitcoin's either during the conversation in the cryptography mailing list.

Coin



Explanation

Yeah... about that post... sorry... I didn't realize I was doubling (long boring story).

But I still think you put too much faith in the purchaser.

There is no indirection here, unless customers decide they don't care about BTC and will happily accept jbrehercoin channel payments instead. A LN channel is a claim on BTC, which can be reassigned to another chain endpoint. You literally can not construct that transaction on a different chain.

You can construct cross chain channels but the customer would have to want that service. I can't ask for BTC as a payment and you send me LTC and expect my endpoint to accept it. It won't.