The Bitcoin Thread

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etienne_marais said:
Can anybody try to predict the next BTC FUD ? Perhaps a renewed interest in Segwit2 or media onslaught ? As it stands now, BTC is a problem due to continued long transaction times, high energy costs, and in the eye of some (including me) centralized decision making by majority holders and mining pools / miners in contrast to the original vision.
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This is the biggest problem imo. Scaling etc can all be sorted relatively quickly if the aholes make decision based on whats best for btc and its future, instead of whats best for themselves today.
 
World Gold Council Head: “Nothing to Suggest Gold is Suffering From the Popularity of Crypto”

Neil Hume, Mining and Commodities Editor for Financial Times, was quick to have World Gold Council Head of Market Intelligence, Alistair Hewitt, dismiss bitcoin’s ascendancy as a reason for gold’s third quarter (Q3) performance woes. He paraphrases Mr. Hewitt as having said, “there was nothing to suggest gold was suffering from the popularity of cryptocurrencies such as bitcoin, which have experienced explosive gains this year.” There is reason to be skeptical of that claim.

Also read: Gold Versus Bitcoin, Goldman Sachs Prefers Metal to Crypto

Gold Currents Might Turn Trends
Fortune’s David Meyer writes, “More people are now searching online for how to buy bitcoin than they are searching for how to buy hold,” according to Google Trends. Gold is the classic hedge against stock market volatility, especially during downturns.

That might be changing if Q3 figures are to be extrapolated into a full-fledged movement or current.

It certainly doesn’t help to have a booming stock market at the moment along with a new commodity asset in cryptocurrencies. Leaving out the entirety of the legacy markets, bitcoin alone has appreciated many hundreds of percentages in just 2017.

“Demand for gold slumped to an eight-year low in the third quarter,” Mr. Hume reports, attributing the record fall to “the prospect of higher US interest rates and tighter monetary policy” which “resulted in less [gold] buying from institutional investors.”
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https://news.bitcoin.com/world-gold...=notification&utm_campaign=Push Notifications
 
Temujin said:
This is the biggest problem imo. Scaling etc can all be sorted relatively quickly if the aholes make decision based on whats best for btc and its future, instead of whats best for themselves today.
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I think the main issue is that Bitcoin is becoming popular faster than PC hardware tech improvements. As time goes, miners will be able to process more transactions because of new hardware tech coming out every year.
 
SaiyanZ said:
I think the main issue is that Bitcoin is becoming popular faster than PC hardware tech improvements. As time goes, miners will be able to process more transactions because of new hardware tech coming out every year.
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Unfortunately that's not how mining works. The difficultly scales with the hash rate, to keep an average block time of 10mins.
Hardware has no effect on the number of transactions that are able to be processed.
 
R118k barrier broken through. There's not much resistance all the way to R120k. Should get there if the US price goes back to $8k again.
 
Darn nicehash payments will be so slow that btc would have tanked by the time it arrives, hopefully I can cash out at around 118k.
 
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