Bitcoin Thread

Status
Not open for further replies.
balrog said:
Who are these "many here" you are referring to? Can they raise their hands, please? If they believe so, then investing in crypto is definitely not for them.

Anyway - here is some good reading. Once this is over and there is clarity from the SEC, and large institutional investors and ETF's get the go-ahead for trading BTC, expect BTC price to go up quick and hard:

https://seekingcryptos.com/2018/02/...itcoin-cryptocurrencies-tuesday-february-6th/
Click to expand...

Good article - it's written by my favourite tradingview analyst, aka goldbug1
 
Have you guys watched this video? What do you think about it?

https://youtu.be/UYHFrf5ci_g

It's a 9 minute video talking about how the lightning network will eventually lead to centralization and censorship, because of state channels and hubs. Basically, central banking 2.0.

Apparently, blockstream hijacked Bitcoin, kicked out Gavin Andreson and took over Bitcoin core development.
 
digitalis said:
Straight up Bcash propaganda.
Click to expand...
But what if it's true? What if blockstream is using our rage against Roger Ver & Jihan Wu to dismiss anything that criticizes blockstream/Bitcoin core? In other words, what if we're all being played?

I became suspicious of blockstream's Bitcoin after I was banned from the r/Bitcoin Reddit group for posting a topic ASKING if blockstream is controlled by banks after reading this https://www.reddit.com/r/btc/commen...nkers_that_bitcoin/?utm_source=reddit-android

I used to follow Roger Ver on Twitter, until he said Andreas Antonopoulos would have been rich if he bought at $100. He infuriated me and I unfollowed him. I don't like Roger, but I also don't like how this lightning network might (in future) result in us having to register before before using the lightning network.
 
Sly21C said:
But what if it's true? What if blockstream is using our rage against Roger Ver & Jihan Wu to dismiss anything that criticizes blockstream/Bitcoin core? In other words, what if we're all being played?

I became suspicious of blockstream's Bitcoin after I was banned from the r/Bitcoin Reddit group for posting a topic ASKING if blockstream is controlled by banks after reading this https://www.reddit.com/r/btc/commen...nkers_that_bitcoin/?utm_source=reddit-android

I used to follow Roger Ver on Twitter, until he said Andreas Antonopoulos would have been rich if he bought at $100. He infuriated me and I unfollowed him. I don't like Roger, but I also don't like how this lightning network might (in future) result in us having to register before before using the lightning network.
Click to expand...

https://threadreaderapp.com/thread/956627164362928130.html
https://blog.bitmex.com/the-lightning-network/

for a balanced view on LN
 
Shelley cKay said:
https://threadreaderapp.com/thread/956627164362928130.html
https://blog.bitmex.com/the-lightning-network/

for a balanced view on LN
Click to expand...

I read the article, and on the face of it, it makes sense to use the lightning network. LN will result in lower fees, quicker transactions which are more secure (well, the security part seems to be the only issue or the only uncertainty).

I'm no programmer and I don't know how to even code one line. My issue is why are these companies invested in blockstream? What will they get out of this?
AME Cloud Ventures
AXA Strategic Ventures
Blockchain Capital
Digital Currency Group
Digital Garage
FuturePerfect Ventures
Horizons Ventures
Innovation Endeavors
Khosla Ventures
Mosaic Ventures
Real Ventures
Reid Hoffman, and
Seven Seas Venture Partners.

Do they want to free all of us from the even banks?

The resulting Lightning Network and its advantages

The Lightning Network should then, in theory, allow all participants in the network to make near instant and cheap transactions in all directions by finding a path among the nodes. This therefore avoids broadcasts to the Bitcoin network, as long as there are no problems, and results in a scalable network. The architecture even allows microtransactions and improves the privacy of payments.

Channels can stay open indefinitely due to the relative-locktime feature and there should be no counterparty risk; if anyone tries to steal funds through a hostile channel closure, the other participants to the transaction will have a significant time window in which to issue their own redemption transaction and get their money back.
Click to expand...

I don't know, but doesn't this sound like the current banking system? Meaning a hub can easily be a bank such as ABSA? And then ABSA has a channel with you, and another channel with me, meaning you and me can make a transaction quickly and securely? So, in other words, it would be like me and you will have a cheque account with ABSA (the LN hub)?

They always say that anyone can form a LN hub, which is true. But this will be centralized at the end of the day. People are like water, and will flock to a hub with a lot of channels because transactions can be done quickly. Look at how people are using Facebook. It's not that facebook has a better design or whatever, it's because facebook is used by a majority of people meaning it's easier for us to connect with whomever, using the FB platform. Look how a lot of people are gravitating towards Binance. It's because Binance has a lot of volume and is easier to use compared to decentralized exchanges.

Please correct me if I'm not getting it.
 
On a new network with a new PC and getting this weird order book the whole day. Any Ideas?
Order Book Issue.jpg
 
TqOsApE.jpg
 
Luno is holding strong. Deciding moment coming at $7k soon. I would prefer we break through and whales eat up the volumes leaving everyone wondering why they sold.
 
SaiyanZ said:
Luno is holding strong. Deciding moment coming at $7k soon. I would prefer we break through and whales eat up the volumes leaving everyone wondering why they sold.
Click to expand...


luno only reacts at 8:30am....:D
 
https://www.forbes.com/sites/naeema...-cryptocurrency-purchase-on-credit-cards-why/

This probably explains the ongoing bloodbath.

forbes said:
Another blow for the crypto-traders: A sizable number of banks are not allowing their customers to use their credit cards to buy cryptocurrencies. This had been triggered over the weekend when U.S. banks Bank Of America, Citigroup, JP Morgan, Capital One and Discover banned their customers from purchasing cryptocurrencies. But take this declaration with a pinch of salt. Could there be something bigger coming? We know that JP Morgan, Berkshire Hathaway and Amazon teamed up to form an independent health care company. Nothing can be factored out, but let’s stay with the subject on hand.
Click to expand...
 
Last edited:
Status
Not open for further replies.
Back
Top
Sign up to the MyBroadband newsletter
X