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Bitcoin price discussion and analysis

Discussion in 'Forex and Cryptocurrencies' started by greggles, Nov 28, 2017.

  1. Ownthebitcoin

    Ownthebitcoin

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    Of course governments wont allow it.
    But you just cant remove bitcoin unless every single country in the world all agree to close exchanges (or the internet). Which wont happen.

    The US fear it because they will lose control of the money and in return they then cant control YOU.
     
    LinRong likes this.
  2. wayneL

    wayneL Rotaredom

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    That was my point about divisibililty.

    But just a small point that might be worthy of everyone's consideration here, the US dollar is not controlled by the US government but by the privately-owned Federal Reserve. I don't really know what that means in total but you can bet your bottom dollar that they will protect their interests.
     
    sptrawler, cynic and StockyGuy like this.
  3. StockyGuy

    StockyGuy Observe, Discuss, Apply

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    You can get the smaller gold and silver rounds. Maybe have to buy the bakery, though. I suspect even in an apocalyptic scenario the appeal of gold to humans will remain. It's pretty. I get the point about divisibility but in fact it actually is divisible in a RELATIVELY low-tech manner - very malleable.

    If we were truly at the end of civilisation though, frankly weapons of any sort might be the only thing that matters. Weapons of all sorts might BE the currency.

    If it gets utterly medieval, weapons can purchase anything, at a cost of zero. Hopefully we never go back to such times.
     
  4. moXJO

    moXJO menace to society

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    Actually many countries experience this now.

    As for the internet going down, Russian subs have already been mapping deep sea cables. No doubt China would do the same.
     
  5. qldfrog

    qldfrog

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    I wish to move my BTC from the exchange into a "paper form" idealy these lists of key words
    Anyone with recommendations
     
  6. moXJO

    moXJO menace to society

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    There are hard wallets you can use.
     
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  7. qldfrog

    qldfrog

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    Out of the usb sticks i use, i would say 20pc are dead after 3y or so
    So you can understand my reluctance i to putting a bitcoin with a full loss in 20pc of cases within 3years
    But keen to know about people own experience
     
  8. kid hustlr

    kid hustlr

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    I bought a nano s. Cost me 100 bucks but it does the job and satisfies all the tin foil hat theories in protecting ones crypto.

    I own btc only
     
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  9. qldfrog

    qldfrog

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    @kid hustlr : how long have you had it, and are you not scared of the risk of hardware failure?
    I am also only considering BTC here
     
  10. Value Collector

    Value Collector Have courage, and be kind.

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    I totally agree.

    And so do bitcoin owners even if they don’t realize it, in reality the only reason most of them are even trading bitcoin is because they want to get more US Dollars.

    The real value that exists in society comes from the products and services our economy generates, and the USA generates its fair share of desirable products and services.

    Sure it consumes a lot of low value goods and services from overseas, but it is exporting a lot of high value goods and services also.

    There is a good reason I have a statue of Walt Disney as my avatar.
     
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  11. Value Collector

    Value Collector Have courage, and be kind.

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    You are delusional.

    Forget about bitcoin, and focus on owning assets and companies that generate real products and services that can be sold into the market, and use the profits to generate compounded growth.

    Everything else is fake, including bitcoin.
     
    Skate likes this.
  12. qldfrog

    qldfrog

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    Reading a bit more reassured me, so order sent
    Thanks
     
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  13. moXJO

    moXJO menace to society

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    Bitcoin is all bluesky.The profits are real enough for me though.
    I say milk what you can.
     
    LinRong likes this.
  14. qldfrog

    qldfrog

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    Exactly, the profit ate in real dollars
     
  15. Value Collector

    Value Collector Have courage, and be kind.

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    Sure trade anything you can to make a profit, but don’t fall into the trap of believing the snake oil actually has value.
     
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  16. moXJO

    moXJO menace to society

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    Absolutely.

    But look for those zealot type true believers. They're your pathway to profits.
     
    Value Collector likes this.
  17. DB008

    DB008

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    Just over a month ago (Nov 24 2019), new Bitcoin Core protocol was released

    Bitcoin Core 0.19.0


    This one stands out for me...

    Bech32 Addresses by Default in the GUI

    The “bech32” address format (BIP 173) had already been introduced in Bitcoin Core 0.16.0, released in early 2018, but is now for the first time set as the default option in the Bitcoin Core wallet Graphical User Interface (GUI).

    Bech32 addresses are the addresses starting with “bc1” (as opposed to addresses starting with a 1 or a 3.) These addresses are also a bit longer, but use fewer different characters than the current address format, as there is no longer a distinction between lowercase and capital letters. (This reduces the potential for human mistakes, for example, when an address is read out loud.) Bech32 addresses are also designed to limit mistakes caused by typos.

    Additionally, bech32 offers benefits in the context of SegWit. Some wallets that offer SegWit — including the Bitcoin Core wallet by default up until now — do so by “wrapping” it into P2SH outputs (with addresses starting with a “3”). To spend bitcoin from such an address, users must reveal a piece of code — the “redeem script” — to show that the bitcoin were really locked up in a SegWit output. With the new bech32 addresses, this step can be skipped, which means that spending from a SegWit output will require a little less data to be transmitted over the Bitcoin network and included in the blockchain. This makes transactions from a bech32 output even cheaper than SegWit transactions from a P2SH output.

    Since not all bitcoin wallets support sending to bech32 addresses yet, Bitcoin Core 0.19.0 users will still be able to optionally generate a PS2H receiving address instead, through a toggle in the GUI.​
     
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