Altcoins & Bitcoins Update

in #bitcoin7 years ago


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EOS Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36

Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

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Iam torn over your new video format. I love the videos but I used to read and comment on my way to/ from work and the signal is not good enough to support streaming. Any chance of a few words with each post? Sorry I know it's extra work.

Good Idea. I'll put a written summary in with the videos.

Thanks bro. Upvoted. Yea I agree. I love the vidoes but sometimes I am in a place where I can't have audio or don't have headsets. I enjoyed the reading in that regard.

I agree. I like the video because it's more precise but it would be perfect to have a short description because I can't watch videos every time.

Same here. I liked seeing more explanations in the video. But some simple text with a chart would do nice. Thanks @haejin for your hard work.

I would love for him to do one or two in depth clips a day where he can talk freely about possible price movements and what not.
And then supplement that with the usual nice and short blog posts.

That's pretty much what I'd like to see too.

Please don't read and write while driving.

I think you rely on too much technical analysis Haejin but you have more trading experience than I do. The fundamentals are still solid, there's nothing i can think of to truly be worried about other than quantum computing.

This price drop is great for the cryptospace, i hope it continues to sub 3000, this will allow more normal folk to get in and have a chance of accumulating at least a bitcoin.

Yes, this correction is very healthy.

BTW am I seeing what's in my head or is BCH itching on that inverse corelation?

Did you somehow mean BTC has solid fundamentals??? If you did mean that, I'll give you the benefit of the doubt and tell you that you are uninformed because the alternative scenario is you being a plain retard.

BTC has the weakest fundamentals in all of top 50 (maybe even top 100) cryptos. It's a piece of junk running on first mover advantage. Finally the age of BTC dominance is coming to an end and I'm really happy. I'm not a TA guy. I'm a fundamentals guy. Saying BTC has fundamentals is like saying JC Penny has solid fundamentals.

Hilarious how you're turning this into a personal attack. Talk about biased. I'm coin agnostic and diversified idgaf.

Wish you would have elaborated on the fundamentals more. Bitcoin does have the "first mover advantage" and it being the "netscape" of cryptos is most definitely plausible. We all measure things differently, don't be butthurt others don't see it your way. I certainly don't and am always learning.

I was pointing out your uninformed and incorrect assumption about BTC having solid fundamentals. I do have to assume that either you haven't done enough research or just plain dumb. I gave you the benefit of the doubt.

I'm not butthurt. I simply see the facts. You can't flex the facts. BTC has higher than VISA Tx fees. Transaction times can even take days while Dash (and PIVX) offer 1.3 second transactions for almost 1/100th the cost. BTC has ZERO governance while many coins have built in governance structure. BTC community is toxic, full of censorship and doesn't even stick to its promises. BTC has no privacy functions. SegWit can compromise security and has done little to solve the scaling issue. Year 2017 had negative BTC merchant adoption which had NEVER occurred in any popular crypto.

BTC has no solid future roadmap. It has no Ease of use features such as user names. All these problems have already been solved by other coins and anything BTC can do, Alt can do better.

This is the objective reality of BTC. Either you weren't aware of the facts or you are just a retard. I'm just stating the facts.

You're looking at the protocol layer of BTC there will be layers built on top of it like lightning network that will scale to insanely low fees and instant transactions.

Segwit was an implementation to easily add in Lightning networks along with its benefits of reducing the amount of data signatures take on each block. Go into Vertcoin slack channel and talk to their dev if you don't believe me. He constantly is testing lightning networks.

The governance issue is a real issue. Which is why I diversify into others like Tezos. But is there a governance system for Dash and Pivx? Also how does it work because just voting isn't enough of it requires a hardfork still.

You seem to really like dash and pivx which leads me to believe your tribalism mentality has caught you. I like them as well but dash is already having issues with their privacy features and if that's what you care about then Monero has already proven to be the best privacy coin (it was the only untraceable coin during many raids on the darknet)

Also if bitcoin has no privacy feature then why are the hackers of the Equifax hack Asking for BTC rather than Dash/PIVX??? It's because the best way to privacy is offchain. It's better for these hackers to hop on a foreign exchange and mix their coins through it.

Wish you gave me a better argument to change my mind. Will still upvote you for your engagement

There are coins that are working on/already completed working on many improvements on the protocol level. That's an edge over BTC.

https://steemit.com/bitcoin/@modprobe/i-looked-into-segwit-and-here-s-what-i-saw
Above is a very informative post that received many upvotes. Please read it. SegWit won't do anything significant for scaling. Lightning networks are not a protocol level developments.

Dash was created for the sake of governance, privacy and mass adoption and PIVX went don't fix it if isn't broke path. Dash has perfect governance. Bitcoin had years of conflicts and still couldn't properly solve scaling problem. There are 1MB,2MB,8MB block groups while Dash solved the entire issue in matter of hours and already on the way to 400MB blocks. That is efficiency and competence which is why I love Dash (and PIVX copied it so.... love them too.)

XMR transaction upto 2016 was broken. It was an unintended scam till 2016.
https://www.dashforcenews.com/blocksci-paper-highlights-blockchain-traceability-issues-potential-future-risks-dash/

https://www.dashforcenews.com/bitcoin-abc-lead-dev-2017-is-the-first-year-with-negative-bitcoin-merchant-adoption/

https://www.dashforcenews.com/5-things-casual-investors-missed-dash/

https://www.dashforcenews.com/why-the-crypto-world-is-a-loud-hostile-place/

In the case of hackers: https://www.dashforcenews.com/imbeciles-guide-ransomware-attack/

BTC is easier to acquire with Fiat.It's name is known by a wider audience. Dash has never had its privacy broken. It will never require a BCH,ETC style Hard Fork because Dash was built from the protocol level to prevent that.

Also BTC has unpaid nodes while Dash pays the masternodes which is a model copied by so many other coins. BTC is simply a terrible long term investment. Dash isn't the only coin I'm a fan of. I love NEM, NEO, Factom,Bytom and many more. I look for the tech instead of sentiment behind the project.

Fair enough, it seems you have a philosophical disagreement with how things are implemented. You would prefer things changed from the bottom up(at protocol level) rather than built on top of.

I wonder if trusting only whales with masternodes to govern for the rest of us is the best solution over say, electing witnesses/representatives like steem/ark etc. But incentive wise it could be better. Thanks for the info will continue to look into Dash more.

I'm kind of obsessive with fundamentals.

Quoting The Revenant - Movie: When there is a storm, and you stand in front of a tree, if you look at it's branches, you swear it will fall, But if you watch the trunk, you will see it's stability.

I'm a fan of efficiency and I consider 3 factors that should decide who gets a say:
#1 Technocracy - Who are already good at their game. Eg: @haejin

#2 Meritocracy - Growth potential/self-development/learning and proving themselves capable Eg: The Big Short guys from the movie

#3 Skin in the game.

I don't give a damn about decentralization. I want the highest level of performance. If decision makers fulfill above criteria they will produce results. Results is what I care about.

You need 1000 Dash or 10,000 PIVX for a masternode. There is incentive for them to be good decision makers. So they either already good or they learn or they burn. Plus the community will keep a keener eye since the masternodes have their perks.

Dash and similar systems has no risk of growing into a tragedy of the commons. Please read the following article: https://www.dashforcenews.com/bitcoin-disincentivizes-community-harmony/

Very ominous. I have a couple of theories, now that it looks like BCH has breached the lower limit of its cup formation against BTC.

  1. A big exchange is hacked or the Bitfinex banking and tether problems go beyond mere conspiracy theory and are found out to be true. This would destroy all crypto prices, but particularly altcoins, of which many more are stored on exchanges than BTC, with its plethora of wallets and community that have seen multiple exchange collapses. 2014 all over again.

  2. The newly announced ERC-20 tether gains official banking recognition for dollar conversion and quickly becomes the defacto fiat of the crypto world.

  3. The segwit2x fork cleaves BTC almost exactly in half, making each half almost worthless overnight. Who knows what becomes the reference after that.

I'm leaning on a whimper; not a bang.
BTC will go on the path of British Empire. It'll slowly loose dominance and end up being a"meh" currency. I've been repeatedly calling for under $5billion dollar market cap for BTC by 2020 and BCH price stabilizing over $1000 by next January.

Too bad we'll have a massive uptrend before the end of BTC. But in the end we'll eventually be free from Buttcoin's influence. Then the real coins will have a real chance to shine.

Dash is the most likely to be the super coin that replace BTC. But what would really happen is what happened with USSR. It broke into few countries. The place of BTC will be spread among several coins with a massive share taken by Dash and also BCH, ETH, NEO and several more.

@haejin You may think of things as ominous but to me, all of this is mostly a blessing. Finally we have a chance to be free from the Buttcoin curse.

How about Ethereum fork to Metropolis? Or the mysterious possibility of Bitcoin smart contracts?

Metropolis is a good bet. That's why I mentioned ETH. But Dash is aiming to be the Digital cash with stability. ETH will be more volatile than Dash which already has 1/3 of its supply locked in masternodes. ETH will definitely be the short term BTC replacement. Long term, I'm not 100% sure.

On BTC smart contracts: Where have you been living all this time. BTC took years to (sort of) solve the scaling issue while Dash took only hours. BTC community acts like a bunch of commies with censorship, name calling, coin dumping, FUD, more FUD, blind following etc. It's more likely for Venezuela to get their shit together than BTC to get smart contracts.

Hahaha....the BTC contracts comment was in jest.

WOW WOW WOW. I guess I have to sit on my hands, not press SUBMIT button and have patience, something I am learning to learn to have. I have gotten out of all and am eagerly awaiting your further posts and possible recommendations. I guess I do nothing.....

Yes, I am being patient for the Bitcoin Wave IV bottom.

Agree
Further sub waves happen too quickly and profit small vs. larger waves - where can make proper money and easier to ladder - reducing liquidity issues.

is there anything you are currently seeing in the bitcoin cash pattern that shows the same kind of theory support? i shorted my positions, but now i'm second guessing that I should just be holding in case the sky falls. ha.

No sign of inverse relationship, yet. Bear in mind that a superior coin replacement is only a theory and it could be anything or another unthought of event.

I also follow the infrequent blog of a technician who uses Gann methods. Interestingly, he recently posted a very similar theory, although it was based on what he thought Goldmann was taking as the EW count: http://www.geometricthinking.com/bearish-and-bullish-at-the-same-time/#more-3364. He also advanced BCH as the alternate reference coin. I personally prefer Dash or Decred.

Anyway, Haejin, I would be interested in your take on the so-called Goldmann wave count, and also in what you know about Gann analysis.

Thanks!

upvoted, either great but love both videos as provides better simulation of possibilities

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