10 Reasons Bitcoin Is a Terrible Investment

Response to Steve Faktor's forbes post re: 10 reasons bitcoin is the myspace of money

Response to Steve Faktor's forbes post re: 10 reasons bitcoin is the myspace of money submitted by Drop5Stacks to Bitcoin [link] [comments]

10 Reasons Bitcoin Is The MySpace Of Money And What Might Save It

10 Reasons Bitcoin Is The MySpace Of Money And What Might Save It submitted by iWeyerd to Bitcoin [link] [comments]

Quit My Job...

I quit my job and today was my last day. This was made possible in part by Ethereum.
I first bought Ether at 10 dollars back in January after hearing an interview with Vitalik. It sounded like a neat techonlogy and I thought maybe in 5 years I would see some returns. I had no idea what was about to happen.
Fast forward 9 months and all I can say is it's been a hell of a ride.
For my fellow Ethtraders, here a few lessons I've learned - usually the hard way - along the ride so far...
1) You, me, Jamie Dimon, Mike Novogratz, ScienceGuy9489 and even Vitalik have no fricking idea what's gonna happen. He's said so himself.
Ethereum could shoot up to 750 tomorrow and then fall to 75 the next day. Or it could lurk around 300 for the next two years before exploding to 3000. Who knows! If you have conviction in the technology invest what you are willing to lose and don't get hung up on the day to day movement. It's just noise.
2) This has been said a million times, but for good reason: Don't invest more than you're willing to lose. For most people, this means no more than 10-20% of your money. This really goes for any asset class, even cash since there's inflation risk - but especially crypto. Ideally, in addition to crypto your money is diversified among a variety of asset classes like fiat, stocks, bonds, gold, etc.
3) Never, ever buy or sell on emotion. As a rule, if you feel like you have to buy or sell right away, then you don't. Sure, you might luck out once or twice doing so, but this is called gambling, not trading. Being impulsive will ultimately screw you over.
Our brains are running on millennia old legacy software designed to run away from threats e.g., panic sell, to follow the herd e.g., fomo buy, and in general to survive, not to be rational. When big dollar signs are flashing around, our lizard brains think it's life or death and all reason goes out the window. This is why the vast majority of traders, even professionals, lose money.
Of course in a bull market everyone is a genius. So it's easy to kid yourself, but you're probably not a great trader. I know I'm not. I've read books on trading, and I'm not a total idiot, but the fact is I would be sitting on a lot more Ether right now if I had just bought and held rather than getting all fancy.
There are a few folks who have zen-like discipline or years of experience, but for the rest of us, short-term trading is a losing game. That said, you can treat a small portion of your holdings as play money that you daytrade. Just don't be surprised if it's gone next week.
4) Don't be a maximalist. God knows I was when I first arrived here. I thought Bitcoin was Myspace and Ethereum was Facebook. I came to realize Bitcoin and Ethereum are not competitors; they are trying to do different things. The world needs both gold and oil.
5) This may sound blasphemous, but don't be absolutist about HODL-ing. For most, I think it's wise to take some profits as it goes up by selling a small to moderate portion of your holdings. Then, if/when it majorly corrects you won't freak out and panic sell. Instead, you can buy some back at a lower price. And if it doesn't correct, you'll still walk away with some profit and peace of mind.
Now, if you are very patient and don't need to take profits it's fine to 100% HODL if you are truly able to stick with it. Just be honest with yourself. There are a lot of fair-weather 'hodlers' here who hit the sell button whenever there's a major pullback. It's better, not to mention a hell of a lot easier to sell when it's pumping up than when it's plummeting.
6) It's human nature to never be satisfied. No matter how low you bought, you'll wish you had bought lower or bought more. Or you're gonna kick yourself for not selling at a peak. Remember, most people in this world still have no idea what Ethereum is and even if they do, they do not see its potential like you and me. We're early to the party.
7) Keep your life in balance. This is more important than all the above combined. Sure, it's fine to go through a phase where this consumes your life, but if you spend all day and night staring at red and green on GDAX your health and happiness will suffer. Trust me, I've been there.
Trading is already addictive but throw in a 24/7 market that never sleeps with bewildering volatility and you have the perfect recipe for sleep deprivation, anxiety, and manic ups and downs.
If you're overly obsessed with checking prices, try either setting ground rules (what I do is that I only check prices between 10am and 10pm) or step away completely for a few days or a week. I've done this a few times and I always return to the markets with renewed energy and perspective.
Money is important but once you have enough to get by, it's far less so than friends, family, health, and finding meaningful things to do in life. Remember guys, love over lambos, balance over Binance, and bros over blockfolios.. okay that last one was a stretch..
Finally, it's been said before, but that's because it's the truth: the joy is in the journey. Everything in this world is temporary. Whether Ethereum faces some existential threat and gets wiped out tomorrow or goes on to revolutionize human civilization for centuries to come, someday something else will come along and replace it.
Likewise, your stash may someday be worth zero or a million. But either way you will have won the bigger game in town if you enjoyed the ride and learned a few things along the way.
Stay safe, stay hungry, and enjoy the ride!
Note: Thank you guys for all the replies and encouragement, it means a lot. I had no idea this post would blow up like this. In hindsight, I wish I had titled this post something different and put less emphasis on the quitting job part because that's not what this post is really about. I realized from the responses that the post gives the impression that I am retiring for the rest of my life and intend to never work again. This is definitely not the case! Ethereum simply expedited me getting out of a job situation that I wanted out on anyway and has afforded me some more flexibility and freedom in the short to medium term. While I'm taking a bit of the break from the grind right now, I'll be pursuing work a bit down the line both for financial reasons and because it's part of a meaningful life
submitted by pacific_Oc3an to ethtrader [link] [comments]

I am stepping down as a moderator of r/btc and exiting the bitcoin community and entering the Ethereum community.

I am stepping down as a moderator of btc and exiting the bitcoin community. Thank you all for fighting until the end. I know I am going to get a lot of hate from pretty much everyone for this post, but I felt the need to post it anyway.

Why Give Up?

I think bitcoin is past the point of no return. There are a number of different routes that bitcoin could take this year, and as far as I can see, they all end up at the same destination; failure. I know I am going to get a lot of flack for this post, and I understand that. I have witnessed bitcoin being announced “dead” many many times throughout its history and I absolutely could be wrong, but almost every one of their predictions were based on a lack of understanding of bitcoin. I don’t feel my prediction is has a lack of understanding. If I am wrong, then I feel it will be through sheer luck that bitcoin survives. I was a bitcoin early adopter in 2011 and have invested far more time into bitcoin than is reasonable. I truly hope bitcoin does survive, but what I think will happen is not predicated on what I want to happen.

How might bitcoin fall?

The Past

I am not going to go through everything that has lead us up to this point. Many of your are well aware of what has brought us here. Bitcoin up until the beginning of 2014 was an unparalleled success. For those of you who weren’t around at the time, there was a huge amount of excitement in the community at all times. It felt like every month there was some announcement that had a positive impact on bitcoin. A new major company offering bitcoin payments, a bitcoin company offering a new service, a new piece of software being added to clients to make them more useful. Bitcoin was making continual progress and the community was unified. Compare the situation back then to day. We have now had 2 years of stagnation, and in many cases degradation of the network.

The Present

The network is now slow and expensive (and getting slower and more expensive), companies have been leaving bitcoin at an exponential rate. No new major companies have adopted bitcoin and there are no signs of this changing in the future. The community is irreparably divided and is at war with itself. Development has stalled.
Where bitcoin has stalled, other cryptocurrencies have been making enormous ground. Bitcoin does not exist in a vacuum. It has competition. Other cryptocurrencies already offer significantly more advance features than bitcoin. The only thing bitcoin has left over other cryptocurrencies is it’s network effect. The inertia of network effect is truly enormous. Bitcoin has been coasting on it for 2 years now. Technology develops rapidly though, and many people are always looking for the next big thing. Investors want to make money and developers want to work on the most advance and growing technology. There has been very little investment into new bitcoin specific companies over the past 2 years. The only new bitcoin company I know of that has received significant investment in the past two years is Blockstream. There has been a very large amount of investment into blockchain companies in general though. The money is there, it’s just not going into bitcoin.
Ethereum has now reached close to 1/3 of bitcoin’s market cap and there is no sign that it is going to let up any time soon. The ethereum community is a breath of fresh air compared to the current bitcoin community and it feels very nostalgic there. It feels very much like the bitcoin community did 3-4 years ago. They have showed that they are not afraid of using hard forks to upgrade the protocol. They have a leader who is intelligent, pragmatic and good at communicating and IMO who is likely to get the network through the early volatile years. The community showed that they value pragmatism and reality over ideology when they stopped a theft of a large percentage of the currency supply and did so without having any adverse affects on anyone other than the thief. They also achieved this while under attack from bitcoin. They have been working with major organisations and companies to promote and forward the use of the network and they listen to the users of the network to find out what problems they have and which features they want, and then work towards satisfying the needs of their users. The developers of the network have known large holdings of the currency, which means conflicts of interest are less likely to arise and protocol development can directly correlate increased returns for the developer’s investment.

The Future

There are a number of possibilities, but I believe all end with very similar outcomes.

Scenario 1 - BU/EC gains 75% of the network hash rate

If BU gains 75% of the network hash rate, a hard fork will become likely (although not certain). Core and their supporters will start to try and burn down the network. All communication channels will overflow with FUD (some real, some fake). Core supporters with large bitcoin holdings will start dumping them on the market in ways that will cause the most damage to price. Core will start recommending at the very minimum a difficulty readjustment and quite likely also a POW change. Price will fall extremely far as speculators adjust their risk exposure and wait out the storm, traders will short the market to make as much money as possible during the fall, and core supporters try to get the BTC price to go as low as possible on the BU/EC side of the fork and BU/EC supporters try to get the price to BCC price to go as low as possible. Whatever the price is before the fork is certain, I think it is likely to reach 50% of that between the time a fork becomes certain and when the fork actually happens. After the fork happens the price could go down to literally any level. While this is happening, the Ethereum market cap is going to overtake bitcoin even if the Ethereum price does not increase (which it will). Bitcoin will not survive this. The moment Ethereum overtakes bitcoin as the biggest cryptocurrency, everyone will find out. It will be posted in articles in every technology news website on the internet. Once the casual bitcoin holders/users find out (hint most do not even pay attention to what is going on in bitcoin) they will quickly panic and either sell to fiat, or sell into Ethereum to speculate. Mining will almost instantly become unprofitable at that point. Monumentally unprofitable in fact. The payout of 12.5 per block will not even slightly cover the cost of electricity and because miners have no direct control over the price of bitcoin they will be absolutely powerless to do anything other than mine at a loss for a very long period of time. If bitcoin price drops to $100, which IMO is very conservative, then it is likely that 90% of the miners will have to turn their hardware off. This means that the difficulty adjustment periods will increase by a factor of 10 to 20 weeks. These miners that are left will need to mine at a huge loss for up to 20 weeks, or hope that somehow the price recovers. I don’t think even the biggest miners could survive that. Further difficulty reset hard forks will be proposed and it will be chaos.
While all of this is happening, Ethereum is likely to be running fine and price will likely be rising significantly as money from bitcoin pours into it.

Scenario 2 - BU/EC never gains 75% of the network hash rate

In this scenario there will be absolutely stalemate. Core will not be able to implement Segwit and therefore will not be able to change bitcoin into a settlement network, but also the transaction throughput will not be increased through larger blocks. The debate will have become so vitriolic that no further progress can be made within bitcoin. Bitcoin simply will not scale on OR off-chain. In this scenario the end is not so violent like in scenario 1 but then end result is the same. Ethereum (and other cryptocurrencies in general) will continue to gain market share throughout the year as Bitcoin remains stuck in stalemate. The bitcoin price continues decreasing and the Ethereum price keeps on increasing until Ethereum overtakes bitcoin. Once the flip happens, it will accelerate significantly as people realise what is happening. The end result is the same as the later part of scenario 1.

Scenario 3 - BU/EC lose most/all of the network hash rate

In this scenario Core manages to get Segwit accepted by the network. Most people in btc simply leave bitcoin for good. Fees will remain high and transaction throughput low. Core will not increase the block size limit until after LN has been proven to work and users have been forced/coerced into using it. LN is not anywhere near ready for production and it is likely to take at least 2 more years until it is released and working and another year or two until it is fully implemented into wallets, and then another year until businesses are able to understand and use it in their backend. I.e. in an ideal world where everything works as intended in this theoretical system it will take 4-5 years until bitcoin has similar properties to what it had 2 years ago. This obviously ignores the fact that there has been no analysis on whether this would even work on an economic level, let alone a technological level.
As transaction fees rise users and business will be pushed into using other cryptocurrencies and fiat and at some point bitcoin’s network effect will be overcome by Ethereum’s. This scenario is essentially the same as scenario 3, but there maybe some initial price pump when Segwit activates and people enjoy and end to the debate. This will likely be short lived though.

What is most likely to happen (IMO)

If BU/EC is to continue to gain further market share of the hash rate and reach the 75% requirement that many parties have suggested. It is likely to take at least a couple more months of deliberations. For this to happen, a number of large pools will need to switch over. Bitfury has stated that they will not support BU and are mining Segwit and have even started mining UASF blocks. HaoBTC is still sticking to the HK agreement (which literally no one else is) and will not be running anything other than Core. This means it is really down to F2Pool and some of the smaller Pools. F2Pool has stated that it will stop signalling for classic and there is no indication that it will start signalling for anything other than Core (not segwit), and has stated that he thinks BU is dead.
This suggests that the most likely scenario is scenario 2. BU/EC will not activate, but nor will Segwit. There are some things that may or may not happen in this scenario. For example it seems that Core are willing to do a UASF to push Segwit through under the pretence that any of the miners that are not mining Segwit are illegitimate as they are against the “consensus”. This will force the miners into making some kind of decision either way. Many are likely to side with Core but I think a significant portion will side with BU initially. A number of different things could happen in this scenario depending on the ratio of hash power on each side of the split. If the split is mostly equal, I expect that two coins will survive for some amount of time. What happens with bitcoin from that point I have no idea. If BU/EC gains the most hash power then the debate will rage on as the BU/EC will refuse to attack the minority chain out of moral reasons. What happens with bitcoin from that point I have no idea. If Core gains the majority share then the BU minority chain will be attacked by some of the majority miners. Core and their supporters do not have any moral objections against this kind of attack. The minority BU miners will then switch back to Core and it will likely play out like in scenario 3.

So this is BU’s fault for forcing a hard fork?

No, this is Core’s fault by making a hard fork dangerous by telling everyone a hard fork is dangerous for the past two years and blocking every conceivable compromise. They have petrified the bitcoin community and convinced them that any kind of hard fork for any reason that does not come from them is dangerous. They have done this to hold onto the power they should not even have in the first place. They have become the self appointed kings of bitcoin. They have achieved this by threatening to burn down the network instead of making a compromise, and by attacking anyone who threatens to take this power away from them. Unfortunately, when Gavin stepped down, he handed to keys to the bitcoin house to the wolves and once they are inside, it seems it is not possible to get them out again. The only way to make them totally irrelevant is to exit and let them be kings of nothing.

Why did you even become a mod in the first place?

I have known bitcoin was on a negative trajectory for quite some time but I felt that one last push to save it was worth my effort. I wanted to help btc be the best bitcoin subreddit to overcome some of the damage that bitcoin has done to the community. IMO btc is the best bitcoin subreddit, but it is far from perfect. I feel very strongly that the moderation of btc is a microcosm of the situation in the bitcoin community in general. I feel there is far too much weight put on idealogical decision making rather pragmatism and realism. The moderation policies of btc are ‘hands-off’ to a point I think is actually detrimental to the sub and to bitcoin. The issue is that, trolls overwhelm the sub and cause constant controversy. They act like a fire under the community and purposely rile everyone up. There is a reason for this. bitcoin was controlled mostly through censorship. Censorship alone was enough to create an echo chamber. They do not have control of the btc moderation team (well actually they managed to get two mods on here who have since left/been removed) so they must turn it into an echo-chamber by other means. They have achieved this by making sure every single post has comments from trolls that try to rile up the community. This makes the btc community have more tunnel vision as they/we try to insulate ourselves from the trolls. The problem is that it means that the community becomes highly idealogical and focused on only one goal.
IMO it is a failure of this sub to not remove comments from trolls. This is pretty much a standard policy across the whole of reddit and the only reasons for not employing it are idealogical. Removing trolling is not the same as banning specific ideas or topics being genuinely discussed. Not doing so just makes btc a frustrating place to try and discuss things. It also means that any actual discussions outside the block size debate get very little traction as everyone gets dragged into the angry posts.
I should be clear though, the other mods of this sub are great and absolutely want what is best for bitcoin.

Isn’t this all just FUD

I am not writing this to sway anyone. This is what I genuinely think will happen, but of course I could be wrong about every single prediction. It saddens me enormously to write this. The current trajectory for Bitcoin is down and the the trajectory for Ethereum and other cryptocurrencies is up. There will likely be people who say “but Ethereum doesn’t have any uses cases”, my argument to that is; what use-cases does bitcoin have right now that could not immediately be adopted by Ethereum today? There will also be people who say “but if bitcoin dies then all other cryptocurrencies will die with it, because how could anyone trust their money if it might just disappear”? My argument to that is; all cryptocurrencies are still in their infancy, even bitcoin. The writing has been on the wall for Bitcoin for quite some time. I do think there will likely be one ‘great’ cryptocurrency, but until that cryptocurrency is adopted by the masses, that title is still available. If the title of ‘biggest cryptocurrency’ can be taken then it was likely never meant to have it very long anyway. If/When a cryptocurrency manages to achieve mass adoption then it will have hundreds of millions of people, companies, organisations and even countries defending it. At that point the entire system will be working towards it’s success. At that point, the current moral ambivalence towards attacking a minority chain will be seen as ridiculous. After mass adoption of a cryptocurrency (for example Ethereum) has occurred, grandma’s will be writing to their local MP in support of the cyberwar against the Ethereum competitor ‘Othereum’. That is decentralisation. Huge numbers of diverse entities working to defend it. This will never happen on a network as limited as bitcoin’s is. In fact bitcoin is actively losing allies.

TL/DR

I’m out. Ethereum is likely to take over this year as bitcoin becomes myspace. This may happen very rapidly. I hope I am wrong.

Disclosure:

I hold both Bitcoin and Ethereum. I have held a number of different cryptocurrencies over the years, but my holdings were almost always 90-100% bitcoin until recently.
submitted by singularity87 to btc [link] [comments]

Non Computer Science Layman's Argument for Ethereum > Bitcoin Maximalism

Section 1: Dumb Arguments For BTC
"Bitcoin is like gold. You mine it and it's scarce, so the lack of supply makes it valuable!" Gold was essentially valueless to the Aztecs. When an object lacks intrinsic fundamental utility (like food, water, conductive metals, etc) its only value is imbued by its culture. Both crypto and computer culture change in the time it takes to refresh Blockfolio so if this is your primary argument - things will stay as they are now, forever - I encourage you to read up on Richard Clarke.
"Currencies are collectively agreed upon placeholders of value so if enough of us say BTC it's BTC." Sure, but why would enough of us say BTC 5 years from now, especially as the community grows 1000x? First mover advantage didn't hold for MySpace or Napster or Netscape. Their value proposition changed from best in a sparsely populated emergent field to inferior in a moderately populated competitive one as other, superior offerings progressed down the paths they trailblazed.
"Bitcoin is already too far out ahead to lose their standing as the #1 digital currency." To crib from Netflix CEO Reed Hastings regarding HBO: "Ethereum can become bitcoin faster than Bitcoin can become Ethereum."
Section 2: Dumb arguments against Ethereum
"Ethereum is intended to be a world computer, not a digital currency." If a currency is a collective cultural agreement of value, and Ethereum truly becomes the world computer, I daresay we collectively will agree that what makes that world computer tick - ETH - is valuable. That's the whole point of modern cryptoeconomics - connecting groundbreaking computer value with market incentives.
Section 3: The 3 part current crypto landscape
1) An unregulated shitcoin tornado.
No need to break down fraud in granular detail. Only point worth making is that some crypto fraud is outright while most takes the form of idealistic founders launching precocious over-glorified PHD projects that won't have real world viability until computing makes a literal quantum leap... and they don't have the runway for their projects or their investors to reach that 5-10 year horizon.
2) Angry cypherpunk cats tied in a Bitcoin sack
The internecine squabbles of cutting edge blockchain computer scientists and devs seems largely (and mercifully) constrained to Bitcoin.
This isn't to say there isn't constructive heated debate amongst and between other crypto communities, but they don't experience biannual Mexican standoffs that threaten the entire enterprise at worst and slow down development at best.
3) The Ethereum dev army
Simply put, a critical mass of the best and brightest cutting edge computer scientists are flocking to General Vitalk the way the best and brightest engineers flock to Elon Musk.
Of course, the more entrepreneurial are launching their own blockchain offerings... mostly on the Ethereum network.
And for the NEO, Iota, Factom's of the world, they absolutely still have a chance to win a slice of the future... but it stands to reason that if the 800 pound Facebook can acquire or build the same offerings as their 100 pound competitors then the 100 pound Ethereum will do the same to their 10 pound ones.
Again, Ethereum has the mental, social, and monetary capital to win tomorrow if Vitalik plays it right today. And he hasn't made a misstep yet.
Section 4: Maximalist Scenario
If Ethereum becomes the world computer, as it is the leading candidate to pull off, ETH will have intrinsic value based on utility.
Bitcoin will not.
At some point, the current crypto bubble will burst, wiping out the ICO startups that are unsustainable.
This will paradoxically reduce the value of crypto overall while scared money shifts into Bitcoin and ETH - their slices will grow but the pie will shrink. In fact, short term Bitcoin will likely experience a rise over ETH.
However, in time there are two near certainties:
1) Ethereum will continue to increase its real-world utility, speeding up transactions, reducing costs, connecting computers, data and processing. A second wave of more moderately launched startups will be founded on its platform. This will coincide with the rise of quantum computing, kicking the processing into lightspeed and ultimately turning whatever blockchain platform wins into as much a part of everyday life as htttps is today. Currently, Ethereum is the leading candidate, although it could lose to some IBM or Google hatched platform - although this is highly unlikely as it is not their massive conglomerate's core competency.
2) The Bitcoin community will invariably engage in further internal brinksmanship. At some point when the value offering of a stable Ethereum with superior growth potential becomes intriguing, a Bitcoin whale will make the switch.
It only will take one or two to start a run on the Bitcoin bank so to speak, at which point it becomes a Zimbabwe dollar sooner rather than later. The value flowing into Ethereum will allow them to further grow their technical and mental advantages into dominance of the functional blockchain arena.
Section Five: tl;dr
Crypto bubble will burst. Value prop for crypto will collapse to the intrinsically, not culturally valuable. As a world computer and leading community of blockchain minds Ethereum/ETH has intrinsic utilitarian value. BTC does not. ETH wins the future.
submitted by azzabazazz to ethereum [link] [comments]

Future Outlook: Splitting (Forking) The Chain Is Not The Best, But The ONLY Possibility That Bitcoin Can Survive Long-Term - The Vision For The Inevitable Future

I am following Bitcoin since 2011 (although my personal "financial participation" started much later, if you know what I mean), and I have changed my mind twice during this time when it comes to the question of best scaling strategy, because I continuously gathered new information in the process and got new insights through discussions and deep self-reflection. Since I never identified my own personality with one way or the other, I could afford adapting my opinion to my own evolving convictions without losing my face in front of myself!
Today I think that the best way for Bitcoin would be a step-wise "scaling and use-case-enabling by feature-adding" strategy that comprises both on- and off-chain scaling as well as cautious protocol enhancements that enable proper use of layer 2 technologies, which serve different scaling uses-cases than the on-chain scaling, and neither on- nor off-chain scaling can do it alone.
At the same time, I observe the discussions in the community, and while there are many reasonable participants (maybe even the majority, if I assume that the silent majority is in "read-only" mode), I also see a lot of extreme views and fallacies on both sides of the discussion, which is not surprising, as everything in nature is a Gaussian curve, including the distribution of opinions. This includes the following (in my conviction wrong) views, for example:
List of a few wrong statements (I could write many more):
So given this natural Gaussian distribution of opinions, I consider it extremely unlikely (actually "completely impossible"!) that SegWit (or any other scaling solution or important protocol update) [of course I know that SegWit is more than just scaling] will EVER get a 95% majority for activation. Unfortunately, this is completely independent of how good that solution is. Every solution has trade-offs against any other alternative solution, and different people will weigh the pros and cons differently, due to individual judgement.
Just think of any question of human or political life: Think of some aspect that you, yourself, consider "completely and obviously true". And now think about how many percent of the population (which includes people in other parts of society outside your circle of friends) is of different opinion than you on this aspect! Probably more than 5%, unless you picked a VERY obvious example like "I should not push another person out of the window in the 10th floor".
Now, taking this Gaussian distribution problem (and the tails of this distribution), combined with the fact that many people are not able to compromise and some are too "proud" or too unflexible to admit own former mistakes, you have inevitably a deadlock in Bitcoin. In addition, bad actors may misuse these circumstances for their own purposes and create extra propaganda to divide the community even further - from the outside observer it is hard to tell who is the malicious actor and who is the "useful idiot" - after all you may be the useful idiot yourself and think the others are...
So, what I see is this:
In the meantime, certain altcoins do activate SegWit (maybe Litecoin first, or Vertcoin [a decentralized "honest" CPU mining bitcoin/litecoin-clone of small market cap]) and thereby enable L2 technologies. In the meantime, also global Bitcoin adoption and crypto adoption keeps on growing, TX fees keep on rising in Bitcoin, and as Bitcoin contains to stall, the ECO-SYSTEM will increasingly look for new opportunities to offer its services. As a first step, as Bitcoin transactions become as expensive as 1 or 2 USD and more, people may divert to Litecoin (whose blocks today are almost empty and whose capacity with SegWit is 8 times Bitcoin's capacity). In a next step (or in parallel), L2-solutions will evolve on top of Litecoin (Bitcoin leaves the eco-system no other choice) and/or others.
In the meantime, the scaling and feature debate in the Bitcoin community will intensify, but without coming any closer to a common consensus. On the contrary: The fronts will rather solidify on the b-core and the BU camp, and mutual accusations will intensify the more the situation degrades.
Later-on, the decentralized crypto-eco-system will move more and more to those solutions that do offer those scaling solutions, both on-chain and "semi-off-chain" (like LN), that Bitcoin does not offer. Bitcoin market cap share decreases dramatically as a result, maybe from 90% to 70% to 50% and below. But this will just lead to an even deeper divide in the toxic community, where each side will accuse the other side of blocking the "right" solution and thereby being responsible for Bitcoin's decay.
At this moment, at least everyone acknowledges and realizes that "doing nothing" is not the right solution, and Bitcoin will eventually split (fork) into two chains:
After this split, the Bitcoin eco-system may face particular problems (unless they haven't been sonsidered pre-fork):
If these problems have been sorted out (hopefully having been taken care of before the fork), both sub-Bitcoins can realize their vision.
Maybe both "sub-Bitcoins" will find their place and their justification and can peacefully coexist from that point onwards, because all the ideologists and pragmatists from both camps can now live their dreams according to their likings, and have no reason any more to fight the "other side" for standing in their way.
The later this split (=fork) happens, the more difficult it will be to gain back market share from other competing altcoins. At one point the point of no return might be reached and Bitcoin becomes obsolete.
Bottom Line:
submitted by Amichateur to btc [link] [comments]

Future Outlook: Splitting (Forking) The Chain Is Not The Best, But The ONLY Possibility That Bitcoin Can Survive Long-Term - The Vision For The Inevitable Future

I am following Bitcoin since 2011 (although my personal "financial participation" started much later, if you know what I mean), and I have changed my mind twice during this time when it comes to the question of best scaling strategy, because I continuously gathered new information in the process and got new insights through discussions and deep self-reflection. Since I never identified my own personality with one way or the other, I could afford adapting my opinion to my own evolving convictions without losing my face in front of myself!
Today I think that the best way for Bitcoin would be a step-wise "scaling and use-case-enabling by feature-adding" strategy that comprises both on- and off-chain scaling as well as cautious protocol enhancements that enable proper use of layer 2 technologies, which serve different scaling uses-cases than the on-chain scaling, and neither on- nor off-chain scaling can do it alone.
At the same time, I observe the discussions in the community, and while there are many reasonable participants (maybe even the majority, if I assume that the silent majority is in "read-only" mode), I also see a lot of extreme views and fallacies on both sides of the discussion, which is not surprising, as everything in nature is a Gaussian curve, including the distribution of opinions. This includes the following (in my conviction wrong) views, for example:
List of a few wrong statements (I could write many more):
So given this natural Gaussian distribution of opinions, I consider it extremely unlikely (actually "completely impossible"!) that SegWit (or any other scaling solution or important protocol update) [of course I know that SegWit is more than just scaling] will EVER get a 95% majority for activation. Unfortunately, this is completely independent of how good that solution is. Every solution has trade-offs against any other alternative solution, and different people will weigh the pros and cons differently, due to individual judgement.
Just think of any question of human or political life: Think of some aspect that you, yourself, consider "completely and obviously true". And now think about how many percent of the population (which includes people in other parts of society outside your circle of friends) is of different opinion than you on this aspect! Probably more than 5%, unless you picked a VERY obvious example like "I should not push another person out of the window in the 10th floor".
Now, taking this Gaussian distribution problem (and the tails of this distribution), combined with the fact that many people are not able to compromise and some are too "proud" or too unflexible to admit own former mistakes, you have inevitably a deadlock in Bitcoin. In addition, bad actors may misuse these circumstances for their own purposes and create extra propaganda to divide the community even further - from the outside observer it is hard to tell who is the malicious actor and who is the "useful idiot" - after all you may be the useful idiot yourself and think the others are...
So, what I see is this:
In the meantime, certain altcoins do activate SegWit (maybe Litecoin first, or Vertcoin [a decentralized "honest" CPU mining bitcoin/litecoin-clone of small market cap]) and thereby enable L2 technologies. In the meantime, also global Bitcoin adoption and crypto adoption keeps on growing, TX fees keep on rising in Bitcoin, and as Bitcoin contains to stall, the ECO-SYSTEM will increasingly look for new opportunities to offer its services. As a first step, as Bitcoin transactions become as expensive as 1 or 2 USD and more, people may divert to Litecoin (whose blocks today are almost empty and whose capacity with SegWit is 8 times Bitcoin's capacity). In a next step (or in parallel), L2-solutions will evolve on top of Litecoin (Bitcoin leaves the eco-system no other choice) and/or others.
In the meantime, the scaling and feature debate in the Bitcoin community will intensify, but without coming any closer to a common consensus. On the contrary: The fronts will rather solidify on the b-core and the BU camp, and mutual accusations will intensify the more the situation degrades.
Later-on, the decentralized crypto-eco-system will move more and more to those solutions that do offer those scaling solutions, both on-chain and "semi-off-chain" (like LN), that Bitcoin does not offer. Bitcoin market cap share decreases dramatically as a result, maybe from 90% to 70% to 50% and below. But this will just lead to an even deeper divide in the toxic community, where each side will accuse the other side of blocking the "right" solution and thereby being responsible for Bitcoin's decay.
At this moment, at least everyone acknowledges and realizes that "doing nothing" is not the right solution, and Bitcoin will eventually split (fork) into two chains:
After this split, the Bitcoin eco-system may face particular problems (unless they haven't been sonsidered pre-fork):
If these problems have been sorted out (hopefully having been taken care of before the fork), both sub-Bitcoins can realize their vision.
Maybe both "sub-Bitcoins" will find their place and their justification and can peacefully coexist from that point onwards, because all the ideologists and pragmatists from both camps can now live their dreams according to their likings, and have no reason any more to fight the "other side" for standing in their way.
The later this split (=fork) happens, the more difficult it will be to gain back market share from other competing altcoins. At one point the point of no return might be reached and Bitcoin becomes obsolete.
Bottom Line:
submitted by Amichateur to Bitcoin [link] [comments]

Non Computer Science Layman's Argument for ETH>BTC Maximalism

Section 1: Dumb Arguments For BTC
"Bitcoin is like gold. You mine it and it's scarce, so the lack of supply makes it valuable!" Gold was essentially valueless to the Aztecs. When an object lacks intrinsic fundamental utility (like food, water, conductive metals, etc) its only value is imbued by its culture. Both crypto and computer culture change in the time it takes to refresh Blockfolio so if this is your primary argument - things will stay as they are now, forever - I encourage you to read up on Richard Clarke.
"Currencies are collectively agreed upon placeholders of value so if enough of us say BTC it's BTC." Sure, but why would enough of us say BTC 5 years from now, especially as the community grows 1000x? First mover advantage didn't hold for MySpace or Napster or Netscape. Their value proposition changed from best in a sparsely populated emergent field to inferior in a moderately populated competitive one as other, superior offerings progressed down the paths they trailblazed.
"Bitcoin is already too far out ahead to lose their standing as the #1 digital currency." To crib from Netflix CEO Reed Hastings regarding HBO: "Ethereum can become bitcoin faster than Bitcoin can become Ethereum."
Section 2: Dumb arguments against Ethereum
"Ethereum is intended to be a world computer, not a digital currency." If a currency is a collective cultural agreement of value, and Ethereum truly becomes the world computer, I daresay we collectively will agree that what makes that world computer tick - ETH - is valuable. That's the whole point of modern cryptoeconomics - connecting groundbreaking computer value with market incentives.
Section 3: The 3 part current crypto landscape
1) An unregulated shitcoin tornado.
No need to break down fraud in granular detail. Only point worth making is that some crypto fraud is outright while most takes the form of idealistic founders launching precocious over-glorified PHD projects that won't have real world viability until computing makes a literal quantum leap... and they don't have the runway for their projects or their investors to reach that 5-10 year horizon.
2) Angry cypherpunk cats tied in a Bitcoin sack
The internecine squabbles of cutting edge blockchain computer scientists and devs seems largely (and mercifully) constrained to Bitcoin.
This isn't to say there isn't constructive heated debate amongst and between other crypto communities, but they don't experience biannual Mexican standoffs that threaten the entire enterprise at worst and slow down development at best.
3) The Ethereum dev army
Simply put, a critical mass of the best and brightest cutting edge computer scientists are flocking to General Vitalk the way the best and brightest engineers flock to Elon Musk.
Of course, the more entrepreneurial are launching their own blockchain offerings... mostly on the Ethereum network.
And for the NEO, Iota, Factom's of the world, they absolutely still have a chance to win a slice of the future... but it stands to reason that if the 800 pound Facebook can acquire or build the same offerings as their 100 pound competitors then the 100 pound Ethereum will do the same to their 10 pound ones.
Again, Ethereum has the mental, social, and monetary capital to win tomorrow if Vitalik plays it right today. And he hasn't made a misstep yet.
Section 4: Maximalist Scenario
If Ethereum becomes the world computer, as it is the leading candidate to pull off, ETH will have intrinsic value based on utility.
Bitcoin will not.
At some point, the current crypto bubble will burst, wiping out the ICO startups that are unsustainable.
This will paradoxically reduce the value of crypto overall while scared money shifts into Bitcoin and ETH - their slices will grow but the pie will shrink. In fact, short term Bitcoin will likely experience a rise over ETH.
However, in time there are two near certainties:
1) Ethereum will continue to increase its real-world utility, speeding up transactions, reducing costs, connecting computers, data and processing. A second wave of more moderately launched startups will be founded on its platform. This will coincide with the rise of quantum computing, kicking the processing into lightspeed and ultimately turning whatever blockchain platform wins into as much a part of everyday life as htttps is today. Currently, Ethereum is the leading candidate, although it could lose to some IBM or Google hatched platform - although this is highly unlikely as it is not their massive conglomerate's core competency.
2) The Bitcoin community will invariably engage in further internal brinksmanship. At some point when the value offering of a stable Ethereum with superior growth potential becomes intriguing, a Bitcoin whale will make the switch.
It only will take one or two to start a run on the Bitcoin bank so to speak, at which point it becomes a Zimbabwe dollar sooner rather than later. The value flowing into Ethereum will allow them to further grow their technical and mental advantages into dominance of the functional blockchain arena.
Section Five: tl;dr
Crypto bubble will burst. Value prop for crypto will collapse to the intrinsically, not culturally valuable. As a world computer and leading community of blockchain minds Ethereum/ETH has intrinsic utilitarian value. BTC does not. ETH wins the future.
submitted by azzabazazz to ethtrader [link] [comments]

The Death of Bitcoin Segwit

Multiple positive feedback loops are currently interacting to bring the Bitcoin Segwit network to its knees.
They are as following:
-The hashrate flips back and forth, generally following its own individual economic incentive. Right now you earn 71% more money by mining Bitcoin Cash over Bitcoin Segwit, so anyone who can mine Bitcoin Cash will tend to mine Bitcoin Cash. As a result, 40% less blocks are now being found on the Segwit network than regular. Thus there is now 40% less capacity, which allows the mempool to grow during the weekend, which is when the backlog is normally addressed. We recently had a new difficulty adjustment, so the old chain is now stuck on this difficulty for at least two weeks, probably longer than that if the hashrate sticks to Bitcoin Cash.
-As I explained here, simple math leads us to expect a bull market will require less space per transaction than a bear market would. The amount of bitcoins being moved can stay the same, while the size of the transactions would increase, as transactions will be dominated now by migration of coins towards exchanges, rather than from exchanges to personal wallets. The latter kind of transactions require less bits than the prior.
-The amount of bitcoins moving can be expected to increase, simply by virtue of the fact that early adapters will wish to hold onto their tremendous increase in net worth, rather than going down with the sinking ship. A transitioning in value away from Bitcoin Segwit towards Bitcoin Cash and other updated coins that don't suffer from space constraint problems inevitably increases transaction demand on the Bitcoin Segwit chain.
-During a price decline, new people move into the market, who imagine that the Bitcoin Segwit price will recover, just as it did during two previous attempts at correction. These people also contribute to increased demand placed on transaction capacity. The death of Bitcoin Segwit is not immediately recognized as its death by the newcomers who will be left holding the bag as this ship goes under.
And finally, a positive feedback loop that becomes relevant in the next stage of this collapse:
-Bitcoin Segwit derives most of its value from being the largest cryptocurrency, a position now threatened by at least two contenders. If imperfections in the protocol lead another coin to take over this status from the cryptocurrency, this leads Bitcoin Segwit to lose its main use rationale. This would lead Bitcoin Segwit to die out in the same manner as the floppy and social media sites like Myspace did: The fact that it's no longer used by people takes away its use incentive. Technologies that are used for communication are very fragile for exactly this reason. Friendster lost 99% of its users in three years. Bebo lost 98% in three years.
Understand the following principle: When the network runs into the block capacity limit, fees will perpetually increase, until the network no longer suffers under the capacity limit. Here is why: Imagine you make a transaction that gets stuck on the network without being confirmed. This has the consequence of prohibiting you from selling your coins before the price declines. You thus find yourself forced to err on the side of caution. As everyone errs on the side of caution, the average transaction fee merely increases.
During the last time the network hit its capacity, back in June, the price declined dramatically, until interest in Bitcoin faded away. Today this self-correcting mechanism no longer applies, as there is no promise for a near-term solution (2MB blocks/Segwit), while a viable alternative exists. In addition, the number of non-essential uses that can be purged from the network is continually declining, thus there seems to be no genuine corrective mechanism that can prevent the positive feedback loop of Bitcoin Segwit's complete disintegration.
If you bought Bitcoin Segwit, you're now witnessing a net closing in around you, as you find your money stuck on a network with average transaction fees of 10 dollar that are rapidly rising. If you have small amounts of Bitcoin you're looking to spend, you can cut your losses and get out now, or get out at a much higher price in the future.
submitted by moresourdough to btc [link] [comments]

As someone who owns/uses Bitcoin every week since 2013, here is my *opinion* on why it will remain the main cryptocurrency/blockchain

I appreciate you reading. This is a very interesting subject to me and I like reading/discussing it.
I believe, like there are today, there will be hundreds if not 1,000s of cryptocurrencies worldwide that make the rounds, however Bitcoin will remain the most populaused one.
-After many discussions I've had I believe that in the October-November timeframe Segwit will be deployed and many of the popular wallets will be using it's benefits. The "side effect" of this is being able to fit 5,000-6,000 transactions in each block, almost double what we have today. This event will bring the community even more together. There will be even more events like this in the future.
So all in all I believe there will be many uses for Ethereum in the future. However it is Bitcoin that will/is being shown as the "Money" of cryptocurrency, the tried and true one that started it all with the most perceived security, standing the tests of time. Please don't discredit these attributes, it can cloud one's judgement because fancier does not always equal the biggest or most widely used.
Disclosure: I own Bitcoin and use it weekly. I don't own any other cryptocurrencies. I didn't aim to, but I suppose I'm a "Lifer" Bitcoiner, meaning that I've put so much of my resources into it - if it were to ever "crash and burn" then I could never see myself really investing into another coin again. In this scenario I would use cryptocurrencies if and only if it directly made my life easier, not putting my time into cryptos. One significant reason is I'm getting older, aversion to risk.
Edit: for what it's worth, I made very similar postings on litecoin two years ago. It's the same discussion all over again. Litecoin has some advantages over Bitcoin, but Bitcoin is the one that is proving itself time and time again. It's not teams, it's just realities. If Ethereum was the first cryptocurrency without huge glaring flaws, and Bitcoin came along a few years later which several enhancements, it would be the same story. Ethereum would continue to be the dominant crypto
submitted by Logical007 to ethereum [link] [comments]

01-20 00:33 - 'I think its a risk worth taking, I myself will be putting up a node and funding it with maybe 0.001 btc which I would be prepared to lose. The reason we have to take the risk is that most new money coming into crypto is going...' by /u/bassman7755 removed from /r/Bitcoin within 0-6min

'''
I think its a risk worth taking, I myself will be putting up a node and funding it with maybe 0.001 btc which I would be prepared to lose. The reason we have to take the risk is that most new money coming into crypto is going in into alts - I've maybe spoken personally to a several dozen cypto nubes in the last month and maybe 1 in 10 is even remote interested in btc. We need to show the world that btc is the future of the internet of money and not the "myspace of crypto" (which is unfortunately the general perception out there in the real world). Yeah I'm sure bcash fanboys will make a big deal of any misshaps on LN but as far as I'm concerned thats manageable, what isnt manageable is for btc to lose market dominance an be seen as obsolete technology.
'''
Context Link
Go1dfish undelete link
unreddit undelete link
Author: bassman7755
submitted by removalbot to removalbot [link] [comments]

Subreddit Stats: btc posts from 2017-10-03 to 2017-10-09 13:22 PDT

Period: 6.50 days
Submissions Comments
Total 837 20193
Rate (per day) 128.85 2692.43
Unique Redditors 489 2132
Combined Score 26601 69285

Top Submitters' Top Submissions

  1. 1086 points, 17 submissions: increaseblocks
    1. Another all time low achieved - The Blockstream CSO just reported Coinbase to the NYDFS (on Twitter) claiming they are violating the Bitlicense (199 points, 91 comments)
    2. Craig Wright is NOT the face of or "CEO" Bitcoin Cash (181 points, 116 comments)
    3. Bitcoin Cash (BCH) Withdrawals now available on Gemini exchange (176 points, 39 comments)
    4. In just the month of September 2017 alone rBitcoin mods censored 5633 posts and comments! (115 points, 19 comments)
    5. Forget stealing data — these hackers broke into Amazon's cloud to mine bitcoin (91 points, 11 comments)
    6. Why Blockstream Is So Loudly Against Segwit2x (72 points, 52 comments)
    7. 10 reasons why Reddit admins should close down Bitcoin and not BTC (63 points, 62 comments)
    8. These are the real enemies of Bitcoin (43 points, 23 comments)
    9. Bitcoin Core developers along with Blockstream are destroying Bitcoin (36 points, 5 comments)
    10. Theory: Bitcoin Cash price is dropping as we get closer to SegWit2X hard fork. People are putting their money back into the SegWit1X chain for now so they can claim coins on both chains come November. (34 points, 43 comments)
  2. 970 points, 8 submissions: MemoryDealers
    1. Repost: "The notion of every #bitcoin user running their own node is as dumb as the notion of every email user running their own server.' (279 points, 233 comments)
    2. Just letting Bitcoin.org know that Bitcoin.com will list S2X as BTC (Just like 95% of the rest of the ecosystem will) (243 points, 146 comments)
    3. Censorship question (158 points, 164 comments)
    4. The newest Bitcoin CASH billboard is coming to Silicon Valley! ($1,000 in Bitcoin Cash giveaway contest) (90 points, 38 comments)
    5. Core supporter mentality: Why would anyone ever switch from Myspace to Facebook? Of course they won't, we are already #1 (73 points, 67 comments)
    6. Insights from "a professional capacity planner for one of the world’s busiest websites" on the block size issue. (59 points, 18 comments)
    7. South Korean Startups Are Preparing To Fight The Government's ICO Ban (48 points, 2 comments)
    8. Meanwhile in Japan: (20 points, 21 comments)
  3. 895 points, 7 submissions: poorbrokebastard
    1. Is segwit2x the REAL Banker takeover? (288 points, 400 comments)
    2. No supporter of Bitcoin Cash ever called it "Bcash." (207 points, 328 comments)
    3. The real upgrade happened on August 1st, 2017 (186 points, 206 comments)
    4. We are building a Big Blocker's Arsenal of Truth and we need your help! (143 points, 163 comments)
    5. Understanding the Implications of Restricting Capacity in a Peer to Peer Cash System. (53 points, 42 comments)
    6. Block space is a market-based, public good, NOT a centrally controlled, restricted commodity. (18 points, 48 comments)
    7. Crypt0 on youtube talks about the Segwit2x Banker Takeover (0 points, 3 comments)
  4. 866 points, 4 submissions: jessquit
    1. I think we need an EDA fix before the Nov hardfork (540 points, 352 comments)
    2. If you still think that SW2X is going to be a nice clean upgrade per the NYA you're smoking crack (136 points, 177 comments)
    3. Bitcoin Cash is the real Bitcoin, even if Segwit currently has greater market share due to its stronger shilling (104 points, 140 comments)
    4. "Firing Core" by running SW2X makes as much sense as firing the Linux kernel devs by running Ubuntu. (86 points, 69 comments)
  5. 785 points, 8 submissions: btcnewsupdates
    1. Overstock accepts Bitcoin Cash - BCH holders can now buy Home Goods, Bed & Bath Essentials, Jewellery & More! (586 points, 117 comments)
    2. Bitcoin Cash Gains More Infrastructure In the Midst of Segwit2x Drama - Bitcoin News (80 points, 35 comments)
    3. To commemorate its Bitcoin Cash addition, GMO has launched a cash-back campaign for bitcoin cash of up to 25,000 yen (40 points, 0 comments)
    4. India’s Koinex Exchange to Enable Bitcoin Cash Trading Soon (31 points, 13 comments)
    5. Unregulated Is Not Lawless - CFTC is investigating Coinbase’s Ethereum flash crash (23 points, 6 comments)
    6. SimpleFX, online Forex & Cryptocurrency broker recently introduced Bitcoin Cash as a deposit currency (22 points, 0 comments)
    7. Bitcoin Cash Popularity Allows ViaBTC Mining Pool to Surpass 1 Exahash (3 points, 0 comments)
    8. Trade Bitcoin Cash CFDs - The Rapidly Rising Crypto - plus500.co.uk‎ (0 points, 0 comments)
  6. 745 points, 18 submissions: cryptorebel
    1. Great analysis by singularity and jessquit on how anti-btc trolls shifted: "suddenly last year they all disappeared, and a new type of bitcoin user appeared who were fully in support of bitcoin but they just so happened to support every single thing Blockstream and its employees said and did." (102 points, 50 comments)
    2. Don't fall for EDA Dragons Den FUD. EDA is a powerful weapon that could kill off or cripple the segwit chain for good. Legacy coin has no EDA crash barrier as this article explains. This is why small blockers use FUD us to disarm the EDA (78 points, 118 comments)
    3. Roger Ver CEO of bitcoin.com says that from his point of view the segwit2x split just gives him more coins to sell for the Bitcoin Cash version which he thinks is the more useful Bitcoin @3min41s mark (71 points, 33 comments)
    4. Proof the new Dragons Den plan could be to try to split BCC with an EDA change. Mrhodl is confirmed Dragons Den, and Cobra Bitcoin is the leader of bitcoin.org which is making enemy lists for big block supporting businesses. (70 points, 47 comments)
    5. Right now segwit2x (BT2) is trading for $1143 and segwit1x (BT1) is $3070 on Bitfinex futures markets. Even with not the greatest terms, you would expect 2x to be much higher. I believe this bodes well for BCC. (61 points, 112 comments)
    6. The other day people were suggesting we do an EDA change before the November 2x fork. Here is why I think that is a terrible idea, and why we should only consider EDA change AFTER the 2x fork. (58 points, 40 comments)
    7. "Nick, Adam and others saw the flaw in the system being that they could not ensure one vote one person.. The flaw in that reasoning is assuming that one vote one person was ever a goal. Miners act economically not altruistically." (57 points, 14 comments)
    8. Original chain is now only 4.8% more profitable than Bitcoin Cash chain after the most recent EDA adjustment on BCC. Very normal blocktimes. Where is the EDA dragons den FUD now? (53 points, 33 comments)
    9. Great Explanation from Peter Rizun at 6min mark, on why Segregated Witness no longer fits the Definition of Bitcoin in the Whitepaper as a Chain of Signatures. (51 points, 19 comments)
    10. Right now segwit2x is $650 and segwit1x is $3906. Search for BT1 and BT2 on this page and you can see the futures prices. (51 points, 102 comments)
  7. 640 points, 3 submissions: BeijingBitcoins
    1. "Am I so out of touch?" (441 points, 163 comments)
    2. Bitcoin Cannot Be Only a Store of Value - excellent article by OpenBazaar dev Chris Pacia (189 points, 47 comments)
    3. Interesting research paper: Troops, Trolls and Troublemakers: A Global Inventory of Organized Social Media Manipulation (10 points, 2 comments)
  8. 622 points, 2 submissions: routefire
    1. "Everyone who supported UASF and now complains about S2X out of fear of confusion/lack of mandatory replay protection is a hypocrite. UASF did not have ANY replay protection, not even opt-in. UASF did not even have wipe-out protection!" (394 points, 133 comments)
    2. While /bitcoin was circle-jerking to the idea that no exchange would list the SW2x chain as BTC, Bitcoin Thailand's comment to the contrary was removed from the very same thread! (228 points, 70 comments)
  9. 510 points, 6 submissions: BitcoinIsTehFuture
    1. Bitfinex announcement about issuing BT1 & BT2 "Chain Split Tokens" to allow Futures trading. (BT1 = Segwit1x; BT2 = Segwit2x) (172 points, 173 comments)
    2. By proving that it can be done (getting rid of Core) this will set a HUUGE precedent and milestone that dev teams and even outright censorship cannot overtake Bitcoin. That will be an extremely bullish occasionfor all crypto. (149 points, 84 comments)
    3. Bitfinex is going to call Segwit2x coins "B2X" and let Core chain retain "BTC" ticker symbol. Bitfinex is therefore calling Segwit2x an altcoin and Core the "real chain". (138 points, 70 comments)
    4. The goal of all the forks appears to be to dilute investment in the true forks: Bitcoin Cash and Segwit2x. A sort of Scorched Earth approach by Blockstream. They are going to try to tear down Bitcoin as they get removed. (35 points, 11 comments)
    5. Blockstream be like (10 points, 11 comments)
    6. In light of all these upcoming forks, we need a site where you can put in a BTC address and it checks ALL the forks and says which chains still have a balance for that address. This way you can split your coins and send coins carefully. (6 points, 6 comments)
  10. 508 points, 3 submissions: xmrusher
    1. Can we take a moment to appreciate Jeff Garzik for how much bullshit he has to deal with while working to give BTC a long-needed upgrade that Core has been blocking for so long? (278 points, 193 comments)
    2. The very objective article "Bitcoin is not ruled by miners" on the "bitcoin wiki" was added by theymos on 8th of August this year. Nothing strange to see here, just an objective, encyclopedia-quality overview! (155 points, 58 comments)
    3. According to Crooked Greg, Jeff merging opt-in replay protection is "alarming", because it must mean Jeff wants to blacklist people's addresses too. Core devs keep lying and manipulating to stir more drama and further the split in the community. Disgusting! (75 points, 16 comments)
  11. 505 points, 4 submissions: WalterRothbard
    1. Sam Patterson on Twitter: Can anyone explain why miners and CEOs agreeing to a 2mb hard fork was no big deal with the HKA but is a "corporate takeover" with the NYA? (221 points, 85 comments)
    2. Apparently Bitcoin requires trust now - trusting Core. I didn't get that memo. I think I'll opt out. (169 points, 139 comments)
    3. Erik Voorhees on Twitter: Nothing about NYA was secret (106 points, 34 comments)
    4. How much BTC is in segwit addresses? (9 points, 25 comments)
  12. 480 points, 3 submissions: BitcoinXio
    1. Friendly reminder: if you haven't yet, watch this video which shows reddit is gamed and manipulated by professional shills paid by companies with huge million dollar budgets. It is up to our community to defend itself against these bad actors. (325 points, 99 comments)
    2. Blockchain CEO Peter Smith on Twitter: "We've dedicated our lives to building bitcoin products, introduced millions to bitcoin, evangelized, long before it was cool. Enemies?" (in response to Adam Back) (147 points, 47 comments)
    3. Liberty in North Korea: Reddit online community members join forces to assist in the placement of North Korea’s Hermit Kingdom refugees (8 points, 3 comments)
  13. 459 points, 4 submissions: singularity87
    1. The entire bitcoin economy is attacking bitcoin says bitcoin.org! You can't make this shit up. (435 points, 279 comments)
    2. Understanding Bitcoin - Incentives & The Power Dynamic (13 points, 1 comment)
    3. Understanding Bitcoin - What is 'Centralisation'? (9 points, 9 comments)
    4. Understanding Bitcoin - Validity is in the Eye of the Beholder (2 points, 25 comments)
  14. 434 points, 3 submissions: Gregory_Maxwell
    1. Wikipedia Admins: "[Gregory Maxwell of Blockstream Core] is a very dangerous individual" "has for some time been behaving very oddly and aggressively" (214 points, 79 comments)
    2. Gregory Maxwell: I didn't look to see how Bitcoin worked because I had already proven it (strong decentralized consensus) to be impossible. (122 points, 103 comments)
    3. LAST 1000 BLOCKS: Segwit2x-intent blocks: 922 (92.2%) (98 points, 99 comments)
  15. 419 points, 1 submission: Testwest78
    1. Making Gregory Maxwell a Bitcoin Core Committer Was a “Huge Mistake” Says Gavin Andresen (419 points, 231 comments)
  16. 412 points, 14 submissions: knight222
    1. Kudos to Theymos who wanted to clear things up... (311 points, 89 comments)
    2. COINFUCIUS on Twitter: We are working with the machine's manufacturer to incorporate Bitcoin Cash support. This is a priority for us. (76 points, 2 comments)
    3. Cash, credit ... or Bitcoin? St. John's gets 1st cybercurrency ATM - Newfoundland - Labrador (9 points, 1 comment)
    4. Banks like the potential of digital currencies but are cool on bitcoin, UBS says (3 points, 0 comments)
    5. The Feds Just Collected $48 Million from Seized Bitcoins (3 points, 1 comment)
    6. while Bitcoin users might get increasingly tyrannical about limiting the size of the chain so it's easy for lots of users and small devices. (3 points, 3 comments)
    7. ‘Fraud.’ ‘More than a fad.’ The words Wall Street CEOs are using to describe bitcoin (2 points, 0 comments)
    8. Bitcoin is creating stark divisions on Wall Street (1 point, 0 comments)
    9. Bitcoin: Bitcoin's rise happened in the shadows. Now banks want in (1 point, 0 comments)
    10. Japan’s Biggest Bank Plans to “Overcome” Bitcoin Volatility with 'MUFG Coin' (1 point, 0 comments)
  17. 406 points, 5 submissions: jonald_fyookball
    1. Normal, real twitter users don't add [UASF], [No2x] or any "causes" to their user handles. Obvious astroturfing is obvious. Do they really think they are fooling anyone? (175 points, 134 comments)
    2. Greg Maxwell (and others) may be engaging in the illegal harassment of Jeff Garzik. (92 points, 24 comments)
    3. Bitcoin Cash FAQ updated. Explains why Bitcoin Cash doesn't have SegWit and why it was not considered a capacity increase (87 points, 11 comments)
    4. Is it all a bait and switch campaign? (32 points, 14 comments)
    5. Possible EDA simulation algorithm sketch (20 points, 12 comments)
  18. 404 points, 3 submissions: Annapurna317
    1. Everyone should calm down. The upgrade to 2x has 95%+ miner support and will be as smooth as a hot knife through butter. Anyone that says otherwise is fear monguring or listening to bitcoin propaganda. (364 points, 292 comments)
    2. Notice: Redditor for 3-4 months accounts or accounts that do not have a history of Bitcoin posts are probably the same person or just a few people paid to manipulate discussion here. It's likely a paid astroturfing campaign. (38 points, 30 comments)
    3. The latest TED Radio Hour titled “Getting Organized” talks about the decentralized algorithms of ants and how centralization is not the most ideal state of an organization. (2 points, 0 comments)
  19. 385 points, 1 submission: squarepush3r
    1. Dangerous direction for /btc, possible jump the shark moment. Witch-hunting, paid troll and Dragon Den's accusation to justify censorship. (385 points, 201 comments)
  20. 381 points, 1 submission: hunk_quark
    1. Why is there so much debate on whether Bitcoin is store of value or digital currency? Satoshi's white paper was pretty clear it's a digital currency. (381 points, 182 comments)
  21. 369 points, 5 submissions: craftercrafter
    1. Gavin Andresen on Twitter: Early bitcoin devs luckily picked the right project at the right time. None are irreplaceable, bitcoin will succeed with or without us. (293 points, 57 comments)
    2. Antpool, BTC.TOP & Viabtc all said EDA is a temporary design for BCC. They are just waiting for the new algorithm. (34 points, 19 comments)
    3. SimpleFX, an Online Forex & Cryptocurrency Broker, Adds Bitcoin Cash Payments as well as Bitcoin Cash Trading Pairs! (27 points, 1 comment)
    4. BCC Miners, two EDAs have locked in. This will reduce mining difficulty to 64.00%. If you are aiming to achieve profit parity, you should start mining after the next EDA (in 2.5 hours), because then the difficulty will be at 51%, which gives profit parity on both chains and steady block rate. (9 points, 14 comments)
    5. Antpool, Viabtc, Bitcoin.com, BTC.com, we need to hear your voice. In the case of a scheduled hardfork for updating the EDA, will your pool follow? (6 points, 18 comments)
  22. 348 points, 6 submissions: specialenmity
    1. Fact: proof of work which is the foundation of bitcoin and not invented by Adam back was designed to counter attacks where one person falsely represents to be many(like spam). Subreddits and twitter dont form the foundation of bitcoin for a reason. (156 points, 27 comments)
    2. I'm a small blocker and I support the NYA (87 points, 46 comments)
    3. Devs find clever way to add replay protection that doesn't change transaction format which would break software compatibility and cause disruption. G. Max responds by saying that this blacklisting is a sign of things to come. (49 points, 57 comments)
    4. Five ways small blocks (AKA core1mb) hurt decentralization (36 points, 4 comments)
    5. Even if bitcoins only use to society was avoiding negative interest rates, bail-ins + bail-outs, that is incredibly useful to society. Of course a banker like Jamie Dimon would call something a fraud that removes a "bank tax" on society by allowing them to avoid these fraudulent charges. (18 points, 0 comments)
    6. There are different kinds of censorship. The core propagandists are unwittingly great advocates of economic censorship (2 points, 1 comment)
  23. 286 points, 2 submissions: coincrazyy
    1. Rick Falkvinge on Twitter - "Blockstream's modus operandi is not particularly hard to copy. It's just so cheap and shortsighted." -Gets 5000 ReTweets and 5000 likes in 30 mins. TO PROVE A POINT. ASTROTURFING DOES NOT MEAN CONSENSUS (164 points, 15 comments)
    2. Segwit was invented by "cypherpunks" THAT FAILED TO CREATE A VIABLE DIGITAL CURRENCY. Bitcoin was created by a cypherpunk that SUCCEEDED. (122 points, 118 comments)
  24. 257 points, 2 submissions: olivierjanss
    1. Why Bitfinex’s “Chain Split Tokens” are completely biased towards the small block side (again) (205 points, 165 comments)
    2. Reminder of what took place behind closed doors in 2016, revealing Blockstream & Core's quest for domination & lies. (52 points, 3 comments)
  25. 254 points, 9 submissions: SeppDepp2
    1. #SegWit2x is an upgrade to BTC and will use the BTC ticker. (103 points, 59 comments)
    2. Core rage quitting Swiss Bitcoin Association ? - Due to a CSW free speech ? - OMG - grow up little prejudges! (76 points, 141 comments)
    3. "Venezuela could soon decide to adopt the Bitcoin as its new currency" - Hope they'll use Satoshi's Bitcoin Cash - They cannot afford high fees like most No2X / NoCash puppets! (36 points, 6 comments)
    4. A short logical layman proof definition of Bitcoin: Look up, what Bitcoin really is: 1) Whitepaper 2) First code version Bitcoin is Bitcoin Cash and includes e.g. the witness. Segwit - Bitcoin is an alternative to this (ALT). (17 points, 3 comments)
    5. Core gets hyperallergic about a free speach of CSW in neutral Switzerland (6 points, 35 comments)
    6. Different Bitcoins: Value proposition, trust, reputation - confidence (6 points, 0 comments)
    7. Four Different November Scenarios (6 points, 24 comments)
    8. Swiss biggest FinTech launches BITCOIN Tracker (valid up to 2020) (2 points, 1 comment)
    9. Watch out for this kind of pattern! If it comes to such a segregation of good old members into good and enemy its gonna be dirty! (2 points, 0 comments)
  26. 230 points, 2 submissions: williaminlondon
    1. PSA: latest rbitcoin post "It's time to label (and remove from reddit.com) what is plainly obvious: btc is a monetized subreddit for bitcoin.com." (126 points, 57 comments)
    2. Did anyone notice how angry Blockstream / Core people are whenever good news are posted here? (104 points, 108 comments)
  27. 227 points, 1 submission: dskloet
    1. All the #no2x bullshit is the fault of the people who agreed to activeate SegWit before 2x. (227 points, 199 comments)
  28. 226 points, 5 submissions: opling
    1. Japan's Largest Bitcoin Exchange Bitflyer Launches Bitcoin Visa Prepaid Card (112 points, 1 comment)
    2. Large Japanese Energy Supplier Adds Bitcoin Payments With a Discount (44 points, 4 comments)
    3. Bitcoin ATMs On the Rise in Russia (40 points, 2 comments)
    4. Russia's Central Bank Instructs Clearinghouse Not to Settle Cryptocurrency Contracts (18 points, 1 comment)
    5. Government Head of IT Department Fired for Mining Bitcoin Using State-Owned Computers in Crimea (12 points, 2 comments)
  29. 222 points, 2 submissions: GrumpyAnarchist
    1. Xapo just sold off another 70,000 BCH today, that might explain the price. They're down to 176K in their main wallet now. (166 points, 132 comments)
    2. Roger, can you make Bitcoin Cash an option, with maybe a link to info, in the original wallet setup phase for the Bitcoin.com wallet? (56 points, 28 comments)
  30. 216 points, 7 submissions: uMCCCS
    1. TIL a BS employee, Chris Decker, and some other people released a study that says "4 MB blocks don't cause centralization" (128 points, 19 comments)
    2. Without ASICs, there would be large botnets that are more centralized (44 points, 43 comments)
    3. Bitcoin-ML Bucketed UTXO Commitment (a.k.a. Blockchain pruning!) (27 points, 6 comments)
    4. Bitcoin Cash is Satoshi's BitCoin, not altered Bitcoin (10 points, 10 comments)
    5. TIL BashCo has a website "2x Countdown" (5 points, 1 comment)
    6. How true is rBTC censorship? (2 points, 7 comments)
    7. If S1X lives and Core Never HardForks, BTC will die in year 2038 (0 points, 7 comments)

Top Commenters

  1. williaminlondon (3150 points, 739 comments)
  2. poorbrokebastard (2114 points, 518 comments)
  3. cryptorebel (1768 points, 257 comments)
  4. space58 (1313 points, 201 comments)
  5. Adrian-X (1109 points, 235 comments)
  6. knight222 (1037 points, 157 comments)
  7. bitcoincashuser (946 points, 188 comments)
  8. jessquit (901 points, 150 comments)
  9. ---Ed--- (758 points, 185 comments)
  10. LovelyDay (742 points, 125 comments)
  11. jonald_fyookball (720 points, 106 comments)
  12. Not_Pictured (701 points, 111 comments)
  13. awemany (675 points, 173 comments)
  14. BitcoinXio (611 points, 41 comments)
  15. Gregory_Maxwell (609 points, 90 comments)
  16. singularity87 (608 points, 44 comments)
  17. 2dsxc (587 points, 79 comments)
  18. BitcoinIsTehFuture (567 points, 79 comments)
  19. BTCrob (534 points, 214 comments)
  20. H0dl (531 points, 79 comments)
  21. dskloet (517 points, 94 comments)
  22. Ant-n (509 points, 132 comments)
  23. nullc (497 points, 66 comments)
  24. tippr (483 points, 284 comments)
  25. todu (476 points, 63 comments)
  26. GrumpyAnarchist (472 points, 127 comments)
  27. tophernator (462 points, 78 comments)
  28. livecatbounce (456 points, 61 comments)
  29. kenman345 (453 points, 49 comments)
  30. cryptonaut420 (403 points, 50 comments)

Top Submissions

  1. Overstock accepts Bitcoin Cash - BCH holders can now buy Home Goods, Bed & Bath Essentials, Jewellery & More! by btcnewsupdates (586 points, 117 comments)
  2. I think we need an EDA fix before the Nov hardfork by jessquit (540 points, 352 comments)
  3. "Am I so out of touch?" by BeijingBitcoins (441 points, 163 comments)
  4. The entire bitcoin economy is attacking bitcoin says bitcoin.org! You can't make this shit up. by singularity87 (435 points, 279 comments)
  5. Making Gregory Maxwell a Bitcoin Core Committer Was a “Huge Mistake” Says Gavin Andresen by Testwest78 (419 points, 231 comments)
  6. "Everyone who supported UASF and now complains about S2X out of fear of confusion/lack of mandatory replay protection is a hypocrite. UASF did not have ANY replay protection, not even opt-in. UASF did not even have wipe-out protection!" by routefire (394 points, 133 comments)
  7. Dangerous direction for /btc, possible jump the shark moment. Witch-hunting, paid troll and Dragon Den's accusation to justify censorship. by squarepush3r (385 points, 201 comments)
  8. Why is there so much debate on whether Bitcoin is store of value or digital currency? Satoshi's white paper was pretty clear it's a digital currency. by hunk_quark (381 points, 182 comments)
  9. Everyone should calm down. The upgrade to 2x has 95%+ miner support and will be as smooth as a hot knife through butter. Anyone that says otherwise is fear monguring or listening to bitcoin propaganda. by Annapurna317 (364 points, 292 comments)
  10. Friendly reminder: if you haven't yet, watch this video which shows reddit is gamed and manipulated by professional shills paid by companies with huge million dollar budgets. It is up to our community to defend itself against these bad actors. by BitcoinXio (325 points, 99 comments)

Top Comments

  1. 194 points: cryptorebel's comment in Dangerous direction for /btc, possible jump the shark moment. Witch-hunting, paid troll and Dragon Den's accusation to justify censorship.
  2. 167 points: EH74JP's comment in The entire bitcoin economy is attacking bitcoin says bitcoin.org! You can't make this shit up.
  3. 158 points: BobWalsch's comment in I think we need an EDA fix before the Nov hardfork
  4. 157 points: BitcoinXio's comment in Dangerous direction for /btc, possible jump the shark moment. Witch-hunting, paid troll and Dragon Den's accusation to justify censorship.
  5. 149 points: MemoryDealers's comment in All the #no2x bullshit is the fault of the people who agreed to activeate SegWit before 2x.
  6. 116 points: Testwest78's comment in Making Gregory Maxwell a Bitcoin Core Committer Was a “Huge Mistake” Says Gavin Andresen
  7. 115 points: 2dsxc's comment in I think we need an EDA fix before the Nov hardfork
  8. 106 points: Piper67's comment in jgarzik please do not add replay protection
  9. 106 points: singularity87's comment in The entire bitcoin economy is attacking bitcoin says bitcoin.org! You can't make this shit up.
  10. 99 points: zowki's comment in Bitcoin.com Pool stabilized the Bitcoin Cash blockchain (prevented excessive EDAs)
Generated with BBoe's Subreddit Stats (Donate)
submitted by subreddit_stats to subreddit_stats [link] [comments]

Don't fall for One Step Ahead scam review! Learn the TRUTH here

Is One Step Ahead a scam or real? Learn the TRUTH here
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Too many negative reviews of One Step Ahead bot to take One Step Ahead scam review seriously as a professional Binary Option software to sign up with
As of right now, there are more One Step Ahead scam reviews than positive reviews. That is a bad sign with a Binary Option software, and I highly recommend
Many people are complaining and are thoroughly not interested with One Step Ahead scam review. For that reason, with good conscience, I cannot recommend One Step Ahead scam review.
One Step Ahead scam review is run by paid actors to promote it
Finally, the people who present the One Step Ahead scam review are paid actors who push the product with a faulty algorithm and promise way too much money from it. These are all deceptive tactics of a Binary Option scam that I have seen countless times over the years to the point it makes me sick.
I would expect the actual creators to come forward and sell their product, instead they paid someone $5 on the internet to push their product for them, and act like it will make everyone SO Much money.
For this reason, I cannot in good conscience recommend One Step Ahead scam review, because it is another red flag of a Binary Option scam I always tell people to avoid in my Binary Option Review Panther reviews.
There are many Binary Option software out there that would be a better Binary Option software to sign up with than One Step Ahead review. For the points I covered above, there is no other reason why anyone should consider signing up with One Step Ahead scam review.
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submitted by sienna_calloway to binaryreviewpanther [link] [comments]

DigiByte - A professional & transparent decentralized cryptocurrency

DigiByte is a professional & transparent decentralized cryptocurrency that has been designed to address several of the weaknesses of Bitcoin & Litecoin.
As the Bitcoin & Litecoin marketcaps grow it is likely there will be even more price volatility and commodity speculation, resulting in fewer transactions for goods and services as was originally intended with crypto currencies. As such, we as the development team felt it was best to create Digibyte with a total coin supply of 21 Billion DGB. This will help reduce price volatility once DigiByte is tied directly to the USD and or Euro/Yuan while keeping in parity with the number 21 success of Bitcoin. This will help encourage DigiByte to be adopted as a transactional currency and not as a speculative commodity.
We are now seeing the death of the common home based Bitcoin miner, and the emergence of large ASIC mining companies. We as a development team feel this centralization of hash power goes against the main principles upon which Bitcoin was created. Given this reason and others we have decided to use Scrypt with Digibyte.
Scrypt is a tried and tested algorithm that has experienced much success in the crypto community. We feel there is no need to re-invent the wheel here. From our research we have concluded that even if ASIC scrypt miners are developed they will not give anywhere near the difficulty boost that was seen with Bitcoin and likely will not be cost effective to develop or purchase.
Just as Facebook overtook MySpace and Chrome over took Internet Explorer so too will a scrypt based coin over take Bitcoin. Bitcoin has done very well and paved the way but it will not be the king of crypto currencies forever. It is facing several issues right now including: slow transactions, limited coin supply and centralization of hash power. When studying new internet technologies the first to market ever stayed on top for long. Lycos was overtaken by Google; Napster has since been replaced by many others.
More importantly there is room for several cryptos just as there is for Visa, MasterCard, American Express and Discover. We have Wells Fargo, Bank of America, JP Morgan Chase and many more. We have PayPal, Western Union, OkPay and others. There is room for a professional crypto currency like DigiByte.
We feel DigiByte has a huge amount of potential. Our goal is for DigiByte to become a professional currency with a solid name and a bit of DigiMan marketing fun. Everyone knows what a megabyte or a gigabyte is, so why not use DigiBytes as a store of monetary value on your pc, tablet or smart phone? How many DigiBytes can your wallet hold?
Why use DigiByte?
1) Speed: DigiByte is Blazing fast! Much faster than Bitcoin & Litecoin, and fast enough to buy coffee from a merchant in just a few seconds with the press of a button on a smart phone!
2) Transactional Currency:With 21 billion coins, DigiByte will primarily become a worldwide currency traded for goods & services, and not a volatile speculative commodity like Bitcoin. DigiByte has a natural ratio of 1BTC:1000DGB to Bitcoin. This means that if Bitcoin is worth $1,000 DigiByte should be worth $1 -$10. A Perfect price for buying goods & services. No one likes to look in their wallet and see that they have 0.001 coins; 1,000 DigiBytes are much more appealing.
3) Community: DigiByte was planned and designed for over a month before launch. Since then, the community around DigiByte has continued to grow and contribute to its success.
4) Fair Launch: DigiByte was announced more than 3 days ahead of time. It was delivered at the exact minute advertised with a countdown timer for a fair launch. Over a half million dollars in hardware were thrown at the network in the first few minutes alone.
5) Transparency: The pre-mine of DigiByte is publicly posted and is used to further the long-term success of DigiByte.
6) DigiByte Name: You store data in megabytes & gigabytes. Why not store money in DigiBytes?
Source http://www.digibyte.co/about-digibyte
submitted by gaza1512 to CryptoCurrency [link] [comments]

Cryptocurrency: The Future of Money? 10 Reasons Bitcoin Price will Destroy All Time Highs in 2017 Why Bitcoin IS Money Is Bitcoin Money? Is Bitcoin the MySpace of Cryptocurrency?

Why buy Bitcoin, if not for those two reasons alone? Bitcoin’s transparency is in direct conflict with the Federal Reserve. Not only do we have no transparency into past transactions in the fiat currency system -- i.e., where our taxpayer dollars go -- but we don’t even know how much money is being printed. National regulators around the world are now much moreThe post Bitcoin is Myspace of the crypto world. Has its answer to Facebook finally arrived? appeared first on Coin Rivet. Since the inception ... But as good as bitcoin has been for investors in 2020, my blunt opinion is that it's a terrible investment. Here are 10 reasons you should avoid bitcoin like the plague. 1. Bitcoin isn't really scarce 3 Reasons Why Bitcoin Price May Slip Below $10K This Week. Yashu Gola Sep 07, 2020 05:15 . Share. Tweet. Send. Share. A potential catalyst for Bitcoin’s supersonic price rally in 2020 has been the combination of ultra-flexible monetary policies of central banks and massive spending by governments. The prospects of cheaper money have inspired many to seek hedge in what is now the world ... That being said, Bitcoin will move forward with or without an approval of miners when users decide so. Skin in the game. Now to the point of my post and the question whether Bitcoin is the MySpace of cryptocurrency. Security and decentralization over flexibility is a highly valuable feature among Bitcoin users (currently priced at around $1450 ...

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Cryptocurrency: The Future of Money?

The difference between Bitcoin, my SMP ledger, and other private-money ledgers, disappeared by the US Government, is that no single entity is entrusted to maintain the security and validity of the ... Money arose via market transactions, and precious metals have served as money for thousands of years. Then government, for its own reasons, monopolized the creation of money. I use Google Trends to analyze the chances that the "Facebook of Crypto" will dethrone bitcoin. Become an insider to my Bitcoin and crypto investing group here https://www.patreon.com/Crazy4Cryptos and learn how to on-board, cash out, what coins to inve... Analysis on all the fundamental and Technical reasons I personally believe will take the Bitcoin price well beyond its all time highs in 2017. My website - h...

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