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OfflineBotanyChild
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Registered: 12/14/19
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: LogicaL Chaos]
    #26668311 - 05/13/20 09:38 AM (3 years, 10 months ago)

Sure is LC :rolleyes:

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Invisibledeadwk
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: BotanyChild] * 1
    #26669464 - 05/13/20 09:14 PM (3 years, 10 months ago)

What's everyones thoughts on the halvening? Personally I think its a little worrying. Right now BTC derives a lot of its security by paying miners from block rewards, as opposed to fees. The more halvenings that pass, the lower the block reward gets and as such miners need to be compensated by an increase in fees.



This diagram is pretty interesting. There needs to be a serious increase in BTC usage within the next 4 years, otherwise the next halvening will be a serious dent in BTC security.


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OfflineGrimsweeper
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Registered: 01/29/18
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: deadwk]
    #26669531 - 05/13/20 09:59 PM (3 years, 10 months ago)

I'm staying the course as if halving isn't occurring. A lot depends on whether miners have the bankroll to hold onto their btc or if they need to sell to upgrade their equipment. In the short term the market CAN be affected greatly if you want to gamble and make short term $. In the long term there's too many variables for me to gamble at this point, I'm sure there's many investors smarter and more willing to work the halving than I am though.


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When you clean a vacuum cleaner you are a vacuum cleaner
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OfflineLogicaL ChaosM
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: deadwk]
    #26669540 - 05/13/20 10:03 PM (3 years, 10 months ago)

It sounds like miners are about to go out of business. If this happens, what will happen to Bitcoin?

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Invisibledeadwk
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: LogicaL Chaos] * 1
    #26669560 - 05/13/20 10:13 PM (3 years, 10 months ago)

@Grimsweeper: very true

@LogicalChaos

It really depends. The immediate impact will likely be a lot of smaller time miners closing up shop. This will reduce security, concentrating hash production around larger miners. This will in turn make it so that larger miners will have slightly higher profits, as there's more chances for them to produce blocks.

It's hard to say what % of the miners are small enough that will have to close up shop. A really interesting thing I recently learned (can't remember where) is that a farm out in China is contributing roughly 33% of the network hash power. As long as the number of small miners that drop out is not enough to push that farms overall percentage from 33% up to 51%, I don't think there is any immediate cause for concern.

The real cause for concern will be the next halvening. If BTC doesn't experience a consistent surge in usage and transaction activity, I think the next halvening will be the final nail in the coffin as it will push block subsidy very, very low.

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Invisibledeadwk
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: deadwk] * 1
    #26673806 - 05/15/20 11:08 PM (3 years, 10 months ago)

Full disclosure this is my friend's service, however it's a pretty dope way of sending crypto to people via names instead of addresses. It's somewhat similar to ENS however the main difference is that it can be used for a fiat onboard to purchase a few different cryptocurrencies via debit cards. It also doesn't require any usage of a crypto wallet to signup with, just email validation. I just used it to purchase my monthly crypto buy via a debit card :awehigh:

https://handles.me/

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Invisiblepineninja
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: deadwk] * 1
    #26684341 - 05/20/20 09:23 PM (3 years, 10 months ago)

Just one guys opinion but id be moving out of BTC for a while.


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Just a fool on the hill.

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OfflineGrimsweeper
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: pineninja]
    #26684350 - 05/20/20 09:33 PM (3 years, 10 months ago)

I dunno its leveled and matching the market. I won't buy any now but probably if it dipped 15%. Not likely to buy crypto for a while anyway just glad to be earning doing nothing again.


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When you clean a vacuum cleaner you are a vacuum cleaner
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Invisiblepineninja
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Grimsweeper]
    #26684371 - 05/20/20 09:43 PM (3 years, 10 months ago)

It would take more time to explain than I can really type out.

But just for shits n giggles .

Sept14
$5472

For those who stay in I hope i'm wrong:)

Im out with set sells.


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Just a fool on the hill.

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Invisibledeadwk
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: pineninja]
    #26684452 - 05/20/20 10:36 PM (3 years, 10 months ago)

Old time BTC whale from 2010 moved some coin: https://twitter.com/econoar/status/1263140670409064449?s=19

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OfflineGrimsweeper
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: deadwk]
    #26684496 - 05/20/20 11:02 PM (3 years, 10 months ago)

Alright I just moved $500 in btc to my old fav xtz. Pretty nice to own over 700 xtz coins. Let's see those bitches hit 4 bucks.


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When you clean a vacuum cleaner you are a vacuum cleaner
Build yourself a Flow Hood in these 99 simple steps

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Invisibledeadwk
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Grimsweeper] * 1
    #26684503 - 05/20/20 11:05 PM (3 years, 10 months ago)

Tezos has a pretty cool staking system, definitely worth reading about for anyone interested in it https://medium.com/tezos/liquid-proof-of-stake-aec2f7ef1da7

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OfflineGrimsweeper
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: deadwk]
    #26684616 - 05/21/20 12:05 AM (3 years, 10 months ago)

I get 50c to a buck every few days depending on how much I have in. Supposed to be around 5% annually.


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When you clean a vacuum cleaner you are a vacuum cleaner
Build yourself a Flow Hood in these 99 simple steps

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Offlinechibiabos
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Registered: 03/16/17
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Grimsweeper]
    #26688228 - 05/22/20 01:34 PM (3 years, 10 months ago)

Interesting primer on the underlying math.


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Invisibledeadwk
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: chibiabos]
    #26712566 - 06/01/20 09:15 PM (3 years, 9 months ago)

Thoughts on the direction of the market right now? Not feeling confident with this 8% pump overnight. Gotta love "DeFi" apps like compound. Makes it possible to short BTC on ETH while hedging into a stablecoin like USDC. Only shitting thing with trading on-chain using ETH is that it can get unbelievably expensive to trade due to gas fees.

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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: deadwk]
    #26713852 - 06/02/20 11:39 AM (3 years, 9 months ago)

Bit of a rejection move this morning, however key assets such as BTC and ETH did nothing more but fall back into their recent trading ranges after an attempt to breakout overnight, with ETH in fact still in breakout territory as of this writing.  XTZ, a large personal holding, trades more thinly and suffered a deeper initial draw down, but has since (as of this writing) consolidated at the top of its recent trading range and appears stronger, on a relative basis, with respect to BTC, although ETH is the clear standout from a technical perspective.

I think we continue to go higher.  The stimulative actions taken by central banks worldwide can only help bolster one of the basic tenets of bitcoin specifically.  Namely that it is not beholden to any government and cannot be diluted beyond the formulaic schedule already written into the software that has a finite ending point.  However, because of increased institutional investment in the crypto space, I would still be mindful of potential weakness that could be catalyzed by broader news events related to the coronavirus and/or social unrest that could result in a risk off reaction generally, which as we saw in March, affected crypto just as violently as it affected traditional equity markets.


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OfflineGypsy Boy
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #26716586 - 06/03/20 11:43 AM (3 years, 9 months ago)

I think we not gonna see stable promised growth until covid pandemic is over.

Once it's over economy gonna shoot up, that's when we can expect 1000% profits


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OfflinePsilosopherr
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Gypsy Boy]
    #26716640 - 06/03/20 12:06 PM (3 years, 9 months ago)

Really? 1000%?

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OfflineGypsy Boy
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Psilosopherr]
    #26716930 - 06/03/20 02:08 PM (3 years, 9 months ago)

Yep within 3 ' 5 years


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OfflineGypsy Boy
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Gypsy Boy]
    #26719235 - 06/04/20 01:29 PM (3 years, 9 months ago)

Ive been watching Monero.. it had as shitty year but it became more popular than bitcoin in some places and might take off at some point


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