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The Bitcoin Thread (price and other bitcoin related topics) - Printable Version

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RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-01-2019

Below is a link to an interesting article from today describing a recent change to bitcoin's code and asserting that bitcoin's code has just become more trustless.  I don't claim to know whether the assertions are true, but I do still believe that it is worth sharing here.

https://www.coindesk.com/building-bitcoins-software-just-got-a-bit-more-trustless

And, another article talking about how lightning wallets are becoming more and more popular this year.

https://www.coindesk.com/bitcoin-lightning-wallets-are-gaining-traction-in-2019?utm_source=twitter&utm_medium=coindesk&utm_term=&utm_content=&utm_campaign=Organic%20


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-05-2019

hahahahahaha

I wonder what motivated the fed to make such an announcement of faster abilities to process payments?  We have various crypto currencies (and stable coins) coming into fulfill those needs including that bitcoin and other cryptos are traded 24/7, and if some fiat is not really available for extended periods of time, there has been decently sized motives to substitute with other currencies. See hyperlinked announcement, below:

Federal Reserve announces plan to develop a new round-the-clock real-time payment and settlement service to support faster payments


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-05-2019

Here's an interesting tweet that shows really enormous increases in the number of lightning nodes and also similar levels of increases in the quantity of coins that are held on the lightning network, which tends to suggest that Lightning network is being used more and more.  Of course, these matters take a while to evolve, and to me it still remains unclear regarding how user-friendly (lack of) Lightning network is.

https://twitter.com/RedditBTC/status/1158335119133986822?s=20 

[Image: RnSODi5u?format=png&name=small]

By the way, even though I did not post any kind of bitcoin related information over the weekend, it should be noted that the weekend has been bery bery good for bitcoin... whether the upwards BTC price move is temporary or not, whether we don't see 4 digits again or not.  In any event, these kinds of upwards price moves that are well over $2,500 in value over a few days, does push the BTC price further from the $9,049 local low of this particular correction, so even if there is not any high degree of certainty that the bottom is in for this particular BTC price correction, it is going to be much more difficult to get back  down to $9,049 than it was just a few days ago when the BTC price was continuing to bounce in the $10k zone, and we  were not really sure whether BTC was going to stay above $10k.. for any sustainable amount of time..


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-05-2019

Nick Szabo's below-captioned tweet from a couple of days ago seems to capture a certain likelihood of the bitcoin non-believers who continue to see BTC's price continue to go up, even though so many smart people have been proclaiming over and over and over that bitcoin is a bubble.. but nonetheless the BTC price continues to go up, in spite of crashing expectations.

https://twitter.com/NickSzabo4/status/1157693376898064384?s=20

>>>>>[url=https://twitter.com/NickSzabo4][/url]Nick Szabo     @NickSzabo4
The ones who miss out will become even more hostile.  We know about FOMO, but we may have only experienced the start of HFMO (hatred from missing out).<<<<<<<


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-06-2019

Here's a tweet of a BTC price prediction that is less bullish than John McAfee's, but still very damned bullish, and likely has a decently low chance of happening, even though it is in the realm of possibilities, just like McAfee's prediction.

Remember McAfee prediction 1:  BTC to $500k by end of 2020.   McAfee prediction 2:  BTC to $1 million by end of 2020.

https://twitter.com/Crypto_Tone1/status/1158361271022030848?s=20

[Image: zPLsFrL.png]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-07-2019

Below is linked an article that discusses some possible vaulting features to be proposed to be added to bitcoin's code.  Perhaps in the near future... but it is in the pre-proposal stages, currently.

https://www.coindesk.com/the-vault-is-back-bitcoin-coder-to-revive-plan-to-shield-wallets-from-theft


Also, guys may have noticed that in recent days, I have been posting some anti-shitcoin responses in the Crypto thread - mostly in regards to ethereum; however, I just want to cross link my post over there from today, which involves an interesting/helpful overview of Guy Swann reading an article on his podcast of Ben Perrin's entitled "My path to bitcoin  maximalism"


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-08-2019

Here's an interesting update in a cointelegraph article from a few hours ago that describes that the binance hackers from about a month ago are using Chipmixer to launder more than half of the coins that they allegedly took from Binance.  Could cause some scrutiny on Chipmixer and/or other coin mixing services.

https://cointelegraph.com/news/binance-hackers-bombard-chipmixer-to-launder-at-least-4-836-btc


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-08-2019

(08-05-2019, 08:01 PM)JayJuanGee Wrote: hahahahahaha

I wonder what motivated the fed to make such an announcement of faster abilities to process payments?  We have various crypto currencies (and stable coins) coming into fulfill those needs including that bitcoin and other cryptos are traded 24/7, and if some fiat is not really available for extended periods of time, there has been decently sized motives to substitute with other currencies.  See hyperlinked announcement, below:

Federal Reserve announces plan to develop a new round-the-clock real-time payment and settlement service to support faster payments

Here's an article that came out earlier today that seems to be a follow-up update to the earlier article that I had linked a few days ago in the above-linked post.  

https://cointelegraph.com/news/fednow-us-federal-reserve-payment-tool-a-threat-to-banks-not-crypto


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-09-2019

A year or two ago or maybe longer, I recall reading some articles that described bitcoin as a living organism.  The below linked article seems to be a contemporary reassertion of those kinds of ideas.

https://medium.com/@dergigi/proof-of-life-fa28fdc002fe


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-10-2019

Below is an article about some new discussion in a bitcoin speeding-up design change proposal called Erlay that is currently at the stage of commentaries in the community and BIP drafting in the near future - so surely could take a decent amount of time if such proposed changes were to end up getting included into the bitcoin software at some point down the road.


https://bitcoinmagazine.com/articles/how-the-new-erlay-protocol-could-speed-up-the-bitcoin-network


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-13-2019

Here's a nice little article describing how to set up a bitcoin ATM and suggesting that they are expanding around the world, since 2013.. up to 5k BATMs currently.

https://cryptonews.com/exclusives/how-to-launch-a-bitcoin-atm-business-4421.htm



The below chart sh0ow the net number of BATM increases per month.

[Image: fb73e1a8d6.png]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-14-2019

Here's  a nice little article from a couple of days ago describing the current status of bitcoin mining, including the fact that bitcoin mining continues to grow exponentially.

https://news.bitcoin.com/bitcoin-mining-industrys-exponential-growth-just-wont-stop/


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-14-2019

Here's a nice little website with the current number of satoshis per dollar.    The lower the number the higher the BTC price.

Currently, with our recent price drop, as I type it is 9,484 satoshi's per dollar

https://usdsat.com/

A couple of days ago it  was:  8,778 satoshis per dollar.  
 

[Image: ?u=https%3A%2F%2Fi.imgur.com%2FFv646ph.p..._7R1fnS-TA]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-14-2019

Here's a nice lil tweet of a price projection channel, for those who like visuals.

https://twitter.com/gravitywave2/status/1161270170003955712
 

>>>>>>>>Prediction based on past performance gets harder with this new front-running paradigm we're seeing in bitcoin. Here demonstrated by how the present bull market won't let price act within a nice channel at a less steep slope than the previous (yet at least).<<<<<<<<

There's a suggestion that not only is the future price becoming more and more difficult to predict, but that the channel slop is becoming less and less steep.

Looking like this:

 [Image: EB2pA4KWkAMar_m?format=jpg&name=small]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-14-2019

Here's a nice little tweet of a visual regarding bitcoin's recent price performance as compared with the top 200 altcoins.

https://twitter.com/woonomic/status/1161320822344179720

[Image: EB3XIFMW4AE6KxY?format=jpg&name=small]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-14-2019

Here's an interesting article from yesterday describing how 60 banks are going to be enabled to use bitcoin for cross border payments.

https://www.coindesk.com/60-latin-american-banks-can-now-use-bitcoin-for-cross-border-payments


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-16-2019

Surely there are a decent number of times in which I don't really understand Bitcoin technical details, but it seems that there was a bitcoin update in July that has allowed more trustlessness in bitcoin, as described in the below-linked article.

https://bitcoinmagazine.com/articles/guix-makes-bitcoin-core-development-trustless


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-17-2019

Believe it or not, BAKKT is saying that this time is for real.  In other words, according to the below-linked article, this time BAKKT is going to launch their BTC futures exchange,  on September 23.


https://www.coindesk.com/bakkt-says-its-cleared-to-launch-bitcoin-futures-next-month?utm_source=twitter&utm_medium=coindesk&utm_term=&utm_content=&utm_campaign=Organic%20

I will believe it when I see it, yet I admit this is a good progress sign.


RE: The Bitcoin Thread (price and other bitcoin related topics) - Visigoth - 08-20-2019

Great thread, thanks for the intel


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 08-21-2019

(08-20-2019, 09:40 PM)Visigoth Wrote: Great thread, thanks for the intel

I am glad that you appreciate such information.  Hopefully, you are either considering your own bitcoin plan or have already begun to implement such a plan.

Here's an interesting tweet from Peter Wuille from a couple of days ago regarding improvements in bitcoin scripting and discussion channels on the bitcoin dev mailing list regarding some of the recent scripting changes (and discussions) in bitcoin.


https://twitter.com/pwuille/status/1163592166062473217


http://bitcoin.sipa.be/miniscript/


Edit:

Below is linked an article to supplement the above links:

https://www.coindesk.com/pieter-wuille-unveils-miniscript-a-new-smart-contract-language-for-bitcoin