The Bitcoin Thread

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Sensorei said:
Ok. Different strokes, different folks. You are doing well for a non-believer haha. Cryptocurrency is too big a groundbreaking tech marvel to do anything but grow. BTC will probably be dethroned by another. That could be in a few months or 5 years, but it most certainly can not drop to $1000 overnight without fair warning. Yes, the growth does seem completely irrational to most people, and I can understand why those who just got into it recently are expecting a crash around the corner.
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People also act very irrationally and people control the price. Even in times of relative calmness we have people panic selling. Eg. Last week Sunday morning when the price dropped from R225k to R186k and now again there are a lot of people selling, seems to be because others are selling.

Imagine what will happen when the **** really hits the fan.
 
SaiyanZ said:
People also act very irrationally and people control the price. Even in times of relative calmness we have people panic selling. Eg. Last week Sunday morning when the price dropped from R225k to R186k and now again there are a lot of people selling, seems to be because others are selling.

Imagine what will happen when the **** really hits the fan.
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When what **** hits the fan?

What kind of event would it take to make the innovation of cryptocurrency go to nothing? BTC isn't going to be replaced by another crypto in the next month. That's the only thing that might hit the fan that is worth worrying about short to medium term.

Every commodity market has panic sellers and whales who influence the market. BTC just on a more volatile scale. There are way too many smart people who understand and know the power of crypto to let governments and Wall Street big shots make it go away. We need to pay a lot of attention to alt coins so we can spot the next cryptoking currency and time the move right.
 
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People who are actively trading control the price. Holders who know the value have little to no control over what happens to their BTC when the traders and all the mos/pops start selling.

Edit: another selloff proves my point. There are loads of highly unpredictable people who don't really know what they're doing, but they are actively trading.
 
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SaiyanZ said:
People who are actively trading control the price. Holders who know the value have little to no control over what happens to their BTC when the traders and all the mos/pops start selling.
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This is not your average commodity, so there's not much in that statement that really applies seeing that cryptocurrency has the ability to change the world more than anything since the internet.
 
Sensorei said:
This is not your average commodity, so there's not much in that statement that really applies seeing that cryptocurrency has the ability to change the world more than anything since the internet.
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What is the reason for the increase in price this year? The millions being held offline in wallets or the 10000 BTC being traded every day?
 
SaiyanZ said:
So would it go up on it's own if there was no trading?
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Obviously not. I'm not into an argumentative type of debate, which is where it's headed when you break it down into a pointless question like the one you asked and don't answer my questions. I see you are in the group that don't believe Bitcoin actually might have real value in real world application on a level we haven't seen before. That's completely fine. At least we're both making money. Happy trading.
 
Question for miners: I started mining part time a while back. Nothing to write home about, but would like to generate a bit of BTC while I'm asleep/at work. Previously used NiceHash, but looking for a similar mining software (ease of use, etc) since NH got hacked. Any suggestions?
 
The Voice said:
Question for miners: I started mining part time a while back. Nothing to write home about, but would like to generate a bit of BTC while I'm asleep/at work. Previously used NiceHash, but looking for a similar mining software (ease of use, etc) since NH got hacked. Any suggestions?
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All remaining one click miners are super sketch. If you have to use one Minergate is the least worst one
 
WTF, head out for the afternoon, get back and everythings gone to hell... I take it Voicy bought again?
 
The price of bitcoin is so volatile, but its still on an upward trajectory, with the trend going up. Trying to call tops and bottoms to make a profit trading is tricky....what has worked best for me so far is to just hold.
 
Looks like the last 4 hours or so was a pretty well orchestrated dump and pump on Bitfinex. Every half an hour or so there was a dump which induced others to sell because of the steady decline. Now there is a massive buy-in after the price dropped by $1000.
 
The Voice said:
Tried winminer but when running it a message came up saying that it's not accepting anymore into it's alpha program?

I'll give minergate a go and see how I get on, thanks guys
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Anybody knows where these two are situated? Are they also Russian miners, like Nicehash?
 
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