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Can anyone in a nutshell exactly explain what Bitcoin is exactly all about?

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Legend
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Posted: #51

Crypto Currency is not for the weak at heart.

Today is a great example.

 

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Posted: #52
Bitcoin and the market overall is taking a beating with this BCH stuff. 

#HODL 
 
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Posted: #53
One thing I don’t like is it’s hard to move in with a good amount when it’s right. Transfers and wires take too long. 
 
Legend
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Posted: #54

Quote Originally Posted by I_Need_A_Detox:

One thing I don’t like is it’s hard to move in with a good amount when it’s right. Transfers and wires take too long.

Great comment.

Major issue.

 

peace_5

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Legend
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Posted: #55

And now is the start of the BCH dump.

 

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Prospect
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Posted: #56

Quote Originally Posted by Qwan61:

Correct on Bernie Madoff..What people buying into BC ponzi scheme seem oblivious to is that there are now at least 700 equivalent  cryptocurrencies available and at much cheaper prices than BC.It's called arbitrage. You dont want to be owning the more expensive equivalent product. BC's rise is fueled by cryptokiddies who got a smart phone and think they are purchasing something of value.

There may be a million cryptocurrencies but what is the point of buying them if you cant sell them for a huge a profit. You see the reason why people make huge money off BTC is the price went up so high so fast. Simple.

 
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Posted: #57
Crazy BCH dump. Everything else is roaring back now. 
 
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Posted: #58

what happens if bitcoin crashes you lose all your money?

 
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Posted: #59
Quote Originally Posted by I_Need_A_Detox:

One thing I don’t like is it’s hard to move in with a good amount when it’s right. Transfers and wires take too long. 
 

How long to process an order?
 
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Posted: #60

Quote Originally Posted by GarySanders:

what happens if bitcoin crashes you lose all your money?

 

You should move on.  Nothing to see here.

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Posted: #61
Quote Originally Posted by vanzack:

You sound like a typical sports gambling newbie.  Watch one game, and you are an expert.

Go read up on "difficulty adjustment" and look at what happened about 2 days ago, and then look back at previous difficulty adjustments and peg that to prices.

Then come back and tell me how this isnt cyclical.




What I do know is how CBOT and CME whipsaw kitchen table warriors and Joe Sixpack.A  2 week cycle? GMAFB!!
Go count your tulips  and double down on Hillary.
 
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Posted: #62

Quote Originally Posted by vanzack:

What is going on right now is very interesting. This happened also back in November.  It is an orchestrated attack on BTC. Look at this site:  https://bitcoinfees.earn.com/ Notice there are incredibly high fees and tons of transactions with very low fees.  These are what is called "spam transactions" as people who want to clog up BTC and drive fees up do a ton of no fee transactions that they know wont be picked up just to clog things up. At the same time as a difficulty adjustment. It is really cool to watch.

 

I think now with derivatives created off of BC, hackers will be shorting BC futures say and trying different attacks which will increase BC transaction times further. As the bitcoin.com guy did others will do as transaction times get ridiculous and they decide to bail on BC. The hackers cash out their futures contract with a profit.

Monero is somewhat unique against double-spending but their are attacks against that also.

 

 

 

 
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Posted: #63
HockeyTeeth, you can put up to $750 a week off of a debit or credit card and they’re instant but large sums you have to transfer or wire and they take like a week. 
 
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Posted: #64
You can buy a week long DDos attack for $150 on the darkweb.

https://bravenewcoin.com/news/stopping-ddos-attacks-with-blockchain/
 
Legend
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Posted: #65

https://www.youtube.com/watch?v=UG7zLhEWanc&feature=youtu.be

 

an_roll_laugh

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Posted: #66

Crypto is so manipulated it is funny.

Bcash almost right back to where it started a week ago.

BTC at 13k.

To the person who said this is not cyclical, wanna rethink that?

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Posted: #67
Running around to banks talking to managers trying to get transfers and lock in Ethereum and Bitcoin at current prices. 

Such a pain trying to move money around this market. 

And crypto is built on the idea of making it easy to move money around. 
 
Legend
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Posted: #68

Quote Originally Posted by I_Need_A_Detox:

Running around to banks talking to managers trying to get transfers and lock in Ethereum and Bitcoin at current prices. Such a pain trying to move money around this market. And crypto is built on the idea of making it easy to move money around.

The only answer to this is lots of bank accounts at different banks.

That being said - it is ridiculous that you have to jump through hoops to make an investment in something that is totally legal.  And one of the reasons it is crashing right now.  Crypto just cant be thought of as a mainstream investment yet - lack of regulation, total price manipulation, inside trading, security of the assets themselves (can get stolen), difficulty to understand - all lead to what we have today.

BUT....  This is the beginning of something great.

peace_5

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Posted: #69
I cant get my head around the processing times. Opened a coinbase last month havent loaded it. I am looking at long term investment in blockchain tech companies instead.

 Is there money to be made on blockchain domain names?

Absolute hysteria regarding anything bitcoin or blockchain related. Did you hear about long Island iced tea co. Changed their name to long island blockchain shares soared 500%, before settling at +290% ish. 
 
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Posted: #70
Quote Originally Posted by vanzack:

Crypto is so manipulated it is funny.


BTC at 13k.

To the person who said this is not cyclical, wanna rethink that?


Yeah,shut down the market for 2 hours and where are you?
Yeah,cyclical like bundles of sub-prime mortgages.
Yeah,cyclical like Bernie Madoff plying Baseball Cards.
Yeah,cyclical like the Final Table at the World Series Of Poker.
How much bounce in this Dead Cat ?
 
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Posted: #71

Quote Originally Posted by 666LES:

Yeah,shut down the market for 2 hours and where are you?Yeah,cyclical like bundles of sub-prime mortgages.Yeah,cyclical like Bernie Madoff plying Baseball Cards.Yeah,cyclical like the Final Table at the World Series Of Poker.How much bounce in this Dead Cat ?

I don't know what your nonsensical post means....

But - did you know that there have been 6 30% reductions in BTC in 2017?

The previous 5 have had triple digit percentage gains?  

Care to go out on a limb and say this one is any different?  In other words, this one wont reach 26k at some point in the next 3 months or so?

 

an_popcorn

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Captain
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Posted: #72

This has been a great ride for anybody that has bought Bitcoin early.   My recommendation would be tread carefully ; this is not a (crypto)currency or an investment, but a trade...

It is ironic, but the early adopters of this craze realized it for its value as a currency without any regulation.  Now, no one in his right mind would accept this as a currency with its wild price fluctuations.


Be careful with this.. and be prepared to lose it all (it has no underlying value).    No one should have more than 5% of their net worth in this stuff..


 
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Posted: #73
Plenty of people would accept crypto as a currency.

Eventually it will be easy to send from wallet to wallet and to convert from your wallet to cash. 
 
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Posted: #74

Up to 16k.

I love all of the articles all over the place about the BTC crash.

So funny.  By the time people read them, it is already bouncing back.

Can't wait to get to Christmas and have everybody tell me with a smile on their face that BTC crashed. 

 

Meanwhile, it is now at the price it was at 13 days ago!!

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Posted: #75
Quote Originally Posted by vanzack:

Up to 16k.

I love all of the articles all over the place about the BTC crash.

So funny.  By the time people read them, it is already bouncing back.

Can't wait to get to Christmas and have everybody tell me with a smile on their face that BTC crashed. 

 

Meanwhile, it is now at the price it was at 13 days ago!!



throughout the recent price turmoil, someone had a good comment yesterday on twitter. basically that BTC had crashed to levels not seen since three weeks ago. 
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