Is anyone else starting to become a bit worried? mod note in first post

Dohnjoe

makeorbrake wrote: »

It may have found the bottom and we are in an accumulation phase of sorts. However, I expect several 'shakeouts' over the duration before we break the ATH again....but that will be well beyond the halving. In for the long haul. Strap in, there will be a rollercoaster to be negotiated between times.

I can't shake the feeling that this will be a 2015/2016 type year, or possibly 2 year period mirroring that

Again, total speculation. Also a proper FOMO bull run needs mainstream headlines, e.g. BTC hitting 1K, then 10k, then 20k did that. Not sure what it will take this time around to generate the headlines (and obviously don't expect anything of the sort yet)

JJJJNR

"Is BAT entering a bull run"? "Should we hodl or continue to trade"? "Is the macd our best indicator"? Tune in next week, same BAT time same BAT channel.

stockshares

Its difficult to know how to understand Alts movement in relation to Btc.

Is this correct:
If Btc price goes up Alts go down.
If Btc price goes down Alts go down.
If Btc price Stabilises Alts go up.

Therefore only buy Alts when Btc rises except if willing to take the hit in order to Accumulate and Hold Alts long term since the price is low.

sexmag

https://twitter.com/cz_binance/status/1116563034476957699?s=19

Do it, do it, do it, do it!

Dohnjoe

stockshares wrote: »

Its difficult to know how to understand Alts movement in relation to Btc.

Is this correct:
If Btc price goes up Alts go down.
If Btc price goes down Alts go down.
If Btc price Stabilises Alts go up.

Therefore only buy Alts when Btc rises except if willing to take the hit in order to Accumulate and Hold Alts long term since the price is low.

It's a complex relationship now. Previously BTC led the way, however in late 2017, after the 20k ATH for BTC, money left BTC and flooded into alts

Alts are basically considered more "elastic" than BTC

smacl

JJJJNR wrote: »

"Is BAT entering a bull run"? "Should we hodl or continue to trade"? "Is the macd our best indicator"? Tune in next week, same BAT time same BAT channel.

JJJJNR by day, BATman by night.

smacl

Dohnjoe wrote: »

I can't shake the feeling that this will be a 2015/2016 type year, or possibly 2 year period mirroring that

Again, total speculation. Also a proper FOMO bull run needs mainstream headlines, e.g. BTC hitting 1K, then 10k, then 20k did that. Not sure what it will take this time around to generate the headlines (and obviously don't expect anything of the sort yet)

I don't think it will happen like it did previously with BTC again, in terms of hype driven hyperinflation. I think a big jump is going to have to have very strong real world applications that demonstrate the value of cryptocurrency and blockchain over existing transaction systems. Could be transacting energy, network bandwidth, cloud services or anyone of a multitude of other applications, but don't see BTC ever being used for these things. While I don't see anyone buying their groceries or paying their utility bills with BTC any time soon (ever), I could easily see it happening with other cryptos.

Dohnjoe

smacl wrote: »

I don't think it will happen like it did previously with BTC again, in terms of hype driven hyperinflation. I think a big jump is going to have to have very strong real world applications that demonstrate the value of cryptocurrency and blockchain over existing transaction systems. Could be transacting energy, network bandwidth, cloud services or anyone of a multitude of other applications, but don't see BTC ever being used for these things. While I don't see anyone buying their groceries or paying their utility bills with BTC any time soon (ever), I could easily see it happening with other cryptos.

I don't think there's enough logic in the market for those kind of rationalisations, it goes up purely because other people think its going to go up, that's 90% of this market (or more)

Doesn't need any actual use cases

JJJJNR

smacl wrote: »

JJJJNR by day, BATman by night.

Night time spent checking the BAT phone.

smacl

Dohnjoe wrote: »

I don't think there's enough logic in the market for those kind of rationalisations, it goes up purely because other people think its going to go up, that's 90% of this market (or more)

Doesn't need any actual use cases

Problem is though, there are very real use cases for blockchain and those applications are starting to happen in a separate space from the crypto marketplace. These are a mix of private and federated blockchain and may well lead to broadly adopted public blockchain which may well never have any trading pairs in current market coins. This in turn could be the writing on the wall for the current market. Put another way, the irrational and chaotic nature of the current market doesn't invalidate the efficacy of the underlying technology, which in my opinion will get adopted with or without that market. I'm beginning to think, more likely the latter.

grindle

smacl wrote: »

the irrational and chaotic nature of the current market doesn't invalidate the efficacy of the underlying technology, which in my opinion will get adopted with or without that market. I'm beginning to think, more likely the latter.

smacl

Meh, once there's enough left in the kitty for a few beers and a kebab on the walk home, it don't matter a shiny shíte

https://www.youtube.com/watch?v=d-diB65scQU

stockshares

smacl wrote: »

Problem is though, there are very real use cases for blockchain and those applications are starting to happen in a separate space from the crypto marketplace. These are a mix of private and federated blockchain and may well lead to broadly adopted public blockchain which may well never have any trading pairs in current market coins. This in turn could be the writing on the wall for the current market. Put another way, the irrational and chaotic nature of the current market doesn't invalidate the efficacy of the underlying technology, which in my opinion will get adopted with or without that market. I'm beginning to think, more likely the latter.

You could be right. The Blockchains will be used but there might not be a need for the Currencies.

If by buying Cryptocurrency we were also buying shares in the Projects we would be fine but the Currencies are not shares but a Gamble.

We are gambling that they will be necessary for the Projects to work. Ripple is an example.

smacl

stockshares wrote: »

You could be right. The Blockchains will be used but there might not be a need for the Currencies.
If by buying Cryptocurrency we were also buying shares in the Projects we would be fine but the Currencies are not shares but a Gamble that they will be necessary for the Projects to work.

There's a clear need for trustless data, given the predominance of lies over truth. Private blockchain can't provide that and it is highly doubtful that federated can either. This might be overcome with technology, but (shuffles the tea leaves around in the bottom of the cup) in my opinion public blockchain is considerably more robust. Huge token mining farms however are no better than federated blockchain. There's still a bit of work to do here methinks....

JJJJNR

Pow! kazzzap! crunch!

stockshares

JJJJNR wrote: »

Pow! kazzzap! crunch!

Keep this thread for the bad news. We need this thread getting smaller and the other one increasing

stockshares

Ripples Xrp coin was dropped by Resona Bank.

https://u.today/bitcoin-btc-recovers-from-correction-ripples-xrp-not-affected-by-resona-bank-snub-top-altcoins-in

Bob24

stockshares wrote: »

Ripples Xrp coin was dropped by Resona Bank.

https://u.today/bitcoin-btc-recovers-from-correction-ripples-xrp-not-affected-by-resona-bank-snub-top-altcoins-in

I saw that the other day. It’s not great but i don’t think it’s a huge deal as the service had three banks and only the smallest one has left. So for now it is more a bank which is stopping a partnership with a service provider which itself happens to use Ripple technology.

If another one is following suite, I’ll start wondering what’s going on though.

Also for reference as far as I understand that service uses Ripple technology, but not XRP.

stockshares

Bob24 wrote: »

I saw that the other day. It’s not great but i don’t think it’s a huge deal as the service had three banks and only the smallest one has left. So for now it is more a bank which is stopping a partnership with a service provider which itself happens to use Ripple technology.

If another one is following suite, I’ll start wondering what’s going on though.

Also for reference as far as I understand that service uses Ripple technology, but not XRP.

Im not sure myself whether Ripple Tech or Xrp was used, Im just posting the article. It would be a worry if another one goes alright. I know some people dont like the Ripple/ Bank projects but they do raise awareness of the potential of Crypto/Blockchains which benefits everybody.

Bob24

stockshares wrote: »

Im not sure myself whether Ripple Tech or Xrp was used, Im just posting the article. It would be a worry if another one goes alright. I know some people dont like the Ripple/ Bank projects but they do raise awareness of the potential of Crypto/Blockchains which benefits everybody.

The service which the bank is moving away from is MoneyTap which is provided by SBI and based on xCurrent (the Ripple transfer technology which works *without* XRP). So unless there is anything else I missed out, XRP is not at play here.

But obviously XRP and Ripple are interrelated and when one goes wrong there is a potential ripple effect on the other one (yes I know, trivial joke, I couldn’t help :-)).

stockshares

Bob24 wrote: »

The service which the bank is moving away from is MoneyTap which is provided by SBI and based on xCurrent (the Ripple transfer technology which works *without* XRP). So unless there is anything else I missed out, XRP is not at play here.

But obviously XRP and Ripple are interrelated and when one goes wrong there is a potential ripple effect on the other one (yes I know, trivial joke, I couldn’t help :-)).

Thanks for clarifying. Im not sure about Xrp, its hard to know what Ripples intention is with it

stockshares

Bsv looking very dodgy

https://cryptoslate.com/bitmex-research-bitcoin-sv-miners-have-lost-more-than-2-2-million-since-fork/

Since Bitcoin Cash ABC (BCH) and Bitcoin SV (BSV) split in November 2018, miners supporting BSV have endured estimated losses of over $2.2 million to ensure that the fork’s network is secure. A large part of this mining is conducted by an operation owned by Calvin Ayre.

Forking the Bitcoin Fork
Much like how Bitcoin Cash (BCH) was forked from Bitcoin, in November 2018, the leaders behind BCH had a dispute over the technical direction of the project during a scheduled update.

Explained: Bitcoin Cash Hash Wars, Where the Factions Stand on the Issues
Related: Explained: Bitcoin Cash Hash Wars, Where the Factions Stand on the Issues
Roger Ver, an early Bitcoin investor and promoter—and Craig Wright, a computer scientist who claims to be Satoshi Nakamoto—disagreed on the block size for Bitcoin Cash. Wright wanted to increase the block size limit, among other changes. As a result, Wright and his allies forked BCH to create Bitcoin SV (BSV).

The fork resulted in the stakeholders in the community picking sides. Major miners, including Bitmain, sided with BCH while CoinGeek’s mining operation, owned by Calvin Ayre—a Canadian-Antiguan entrepreneur and billionaire—sided with BSV. These mining operations spent millions mining at a loss to undermine the security of the opposing fork.

Mining at a Loss
Because of how proof-of-work consensus operates, it’s necessary that people continue to mine at a loss to support the Bitcoin SV network to maintain its security against 51% attacks and chain re-organizations. Should these miners stop then BSV would likely lose much of its value, and it is likely that Wright and Ayre have large holdings of Bitcoin SV incentivizing them to continue supporting the network.

On Apr. 12th, 2019, BitMEX Research released estimates on how much miners have lost supporting Bitcoin SV. BSV miners have accumulated gross losses of $2.2 million for electricity alone. These losses are even larger once hardware depreciation, overhead, and labor are accounted for.


Source: BitMEX Research
Meanwhile, those supporting Bitcoin Cash ABC (which is widely referred to as Bitcoin Cash) made a gross profit of $42.4 million.


Profitability of 100x S9 Antminers at $0.08 per kWh on WhatToMine
There is strong evidence suggesting that a large part of the mining conducted for BSV comes from an operation owned by Calvin Ayre. According to data from crypto-statistics platform Coin Dance, CoinGeek controlled 28 percent of the network’s mining power. It’s unclear why other miners are mining the coin instead of more profitable BTC or BCH.

The research suggests that it doesn’t make financial sense to support the BSV network. Thus, Ayre’s motives for supporting BSV could range from clout in the crypto-sphere to potential upside on coin appreciation should the project gain momentum.

stockshares

Binance delists Bsv

https://u.today/binance-delists-bitcoin-sv-over-teams-unethicalfraudulent-conduct?utm_source=tel&utm_medium=tel

JohnnyFlash

The BSV story is good. The owner of a bucket shop delists a coin promoted by a nonce who pretends he’s a billionaire (Ayre) and a conman who pretends he’s satoshi and a billionaire (Craig Wright)

SteelyDanJalapeno

JohnnyFlash wrote: »

The BSV story is good. The owner of a bucket shop delists a coin promoted by a nonce who pretends he’s a billionaire (Ayre) and a conman who pretends he’s satoshi and a billionaire (Craig Wright)

A Bucket shop?

JohnnyFlash

SteelyDanJalapeno wrote: »

A Bucket shop?

Sorry, Binance.

stockshares

Delisting Wars

https://t.me/iv?url=https://u.today/sbi-virtual-currencies-boots-bitcoin-cash&rhash=a523a59c412fdc?utm_source=tel&utm_medium=tel

SteelyDanJalapeno

JohnnyFlash wrote: »

Sorry, Binance.

Ah right, auto correct?

Surely you wouldn't be insulting a bucket shop by comparing to a crypto exchange?

stockshares

SteelyDanJalapeno wrote: »

Ah right, auto correct?

Surely you wouldn't be insulting a bucket shop by comparing to a crypto exchange?

Good one

SteelyDanJalapeno

ALT/BTC pairs getting pounded right now, LTC RSI % less than 5