Gold collapsing. Bitcoin UP.

[albin]

I can't exactly explain why, but the cringe was so real on the phrase "technology expert". Like something in Adam's brain is just not connecting with the world that we all inhabit that he's apparently not in.

 

[molecular]

I watched this multiple times already.
After almost 9 years transacting on the blockchain we are back to keeping tabs.


I call them Lightning tabs.
The good news: they are ready now, not only in 18 months. ;-)

damnit, my irl layout guy is unavailable. Was planning to do a quick project for fun: layout that looks like dishwasher tabs box, akin to something like this

with content along the following lines:

Lightning Tabs - economy

* keeps your blockchain free of spam
* tracks Bitcoin spending off-chain through some app
* built-in social cohesion
* encourages transparency
* NEW: unique sharing feature "pooling tabs"
* enforces trust in valued customers

 

[Zolin]

Bitcoin can plummet just as fast as it has been growing. You should keep in mind that it can crash easily.

 

[albin]

Random thought --

(Every consensus /r/Buttcoin belief in 2013) - (Ponzi accusations and layer 2 skepticism) = (Current /r/Bitcoin consensus beliefs)

They literally have Buttcoined themselves into constructing a Ponzi, pending vaporware salvation, literally the exact thing they've become is the only part of Buttcoinery they've not embraced.

 

[NewLiberty]

Implications.:

CME and CBOE are issueing futures on BTC and BCH.

This means that these will become regulated by the CFTC.

The absence of a regulating body of US government was the primary reason for the Winklevoss ETF products denied by the SEC.

Now that CFTC is regulating, just as they do for Gold, the SEC has no good reason anymore to deny the Winklevoss.

Futures, ETF, and then ETF futures are all coming in 2018.

Buy now avoid the rush?

 

[79b79aa8]

where do you get the news there will be BCH derivatives?

the BTC ETF rush could well be dampened by the system's inoperability, which will be evident by the time the lawyers are ready.

 

[NewLiberty]

BCH Futures were suggested by CME's competition CBOE.
CME is doing Bitcoin, CBOE seems to be interested in Bitcoin Cash and Ethereum also.

http://www.businessinsider.com/cboes-president-hints-at-ether-and-bitcoin-cash-futures-2017-12

 

[AdrianX]

@AdrianX

whats the next BTC ATH?
i mean, whats the top before the next pit stop?

@adamstgbit My predictions are just guesses based on the probabilities of various scenarios.

I'm thinking bitcoin is going to escape wild estimations during this hype cycle. It's taken me time to come to terms with the results of exponential growth in adoption of an liquid asset, and I'm thinking neither the market or the media are prepared for what is about to happen. That said up to 20% dips along the way are inevitable.

I think we could be just entering the "Mania Phase" and the "Blow off" isn't going to take hold until the end of Q1 next year. I think we're going to experiences something unprecedented in global history but this wont be the final hype cycle. The currency that dominated after this hype cycle is the one that I think is going to cross Geoffrey Moore infamous "Chasm" in the global technology adoption cycle.

I'm imagining April 3rd 2018 will be known as Tulip Tuesday. I think BCH comes out of this the winner at a price around $10K when we "return to the mean". Then it's time to build new infrastructure before a rinse and repeat. To paraphrase an old adage "not everyone is going to make money investing in this space"

 

[adamstgbit]

we're past greed IMO but who knows.

 

[Zarathustra]

Back To Tabs - a first step of the North Corean road map.

Next steps:

 

[satoshis_sockpuppet]

So I haven't read Bitcoin "news" the last days and now I see the "tab answer" by Adam...

Can someone wake me up? How can anybody not see how crazy these people are? I feel like I'm taking crazy pills again and again in Bitcoin. Really, what the fucking hell.

btw, wasn't it the van weirdo guy asking the question (on behalf of some poor soul that apparently thinks Adam and his gang care about bitcoin users)?

Use Litecoin instead, use dash, use credit cards, use tabs... How the fuck can anybody think that these guys have any serious skin in the game??

 

[albin]

Hilariously not "use Bcash instead", because God forbid they use something they all have (except maybe Tone Vays!)

 

[79b79aa8]

@NewLiberty
maybe someone can convince business insider to grant access to their articles for 25c, payable in BCH.
the use case is there. the technology is there. the naysayers are busy deluding themselves somewhere else.

 

[Mengerian]

I found this to a fairly well-balanced mainstream article about the Bitcoin / Bitcoin Cash split:

https://www.bloomberg.com/news/articles/2017-12-04/battle-for-true-bitcoin-is-just-getting-started-quicktake-q-a

I have the feeling that as mainstream investors become more aware of Bitcoin Cash, and why it split, they will naturally see the "common sense" reasons why Bitcoin Cash should be more useful, and more valuable.

So an article like this strikes me as a very positive sign.

 

[torusJKL]

So I haven't read Bitcoin "news" the last days and now I see the "tab answer" by Adam...

Can someone wake me up? How can anybody not see how crazy these people are? I feel like I'm taking crazy pills again and again in Bitcoin. Really, what the fucking hell.

btw, wasn't it the van weirdo guy asking the question (on behalf of some poor soul that apparently thinks Adam and his gang care about bitcoin users)?

Use Litecoin instead, use dash, use credit cards, use tabs... How the fuck can anybody think that these guys have any serious skin in the game??

Yes, it was Aaron van Wirdum.

I asked BitKasse if they would support Bitcoin Cash but received no answer.

 

[awemany]

Hilariously not "use Bcash instead", because God forbid they use something they all have (except maybe Tone Vays!)

An absolutely glaring sign of misaligned incentives.

And still, BTC has ~8x the BCH price.

The amount of idiots that is piling money into crypto right now will cause one heck of a crash and bear market.

I suspect this will be when a concerted, very visible 'see, Bitcoin cannot work and isn't really worth anything' campaign will be run by the MSM. Together with levelling the market cap of the 10 largest cryptos or so, to demoralize and prevent a clear winner.

And maybe Greg and Adam will chime in then as well. They've been right all along. The guy in the street will also know - once more - that "Bitcoin was just this craze. Bitcoin cannot work".

How long will the next bear market be? Another couple years at least? I suspect so, as we have lost a lot of productivity and inertia due to the divide and conquer tactics.

In that sense, I have to say: Well played, banksters, well played.

 

[79b79aa8]

@Mengerian, thanks for the link. it's a clear-headed article. but the contorsions the author has to go through in the attempt to remain neutral are quite telling.

• "On-chain advocates . . say Lightning Network . . . can deliver faster and cheaper payment-handling than bitcoin -- or Visa and PayPal, for that matter -- and sidechains could be developed to expand use of bitcoin into smart contracts (as bitcoin rival ethereum does) or processing transactions more secretly (as rival monero does)."
• ". . . if off-chain solutions such as Lightning Network are successfully rolled out, bitcoin cash could become less relevant."

so let's see: *IF* LN is rolled out soon enough, and works as envisaged, it COULD deliver payment handling as fast and cheap as bitcoin cash already delivers. Sidechains also COULD (in some unspecified way) be used for smart contracts, and (rather improbably) deliver more privacy.

• "the rewards are high for the version that can claim to be No. 1 to the public, and the financial world: Nasdaq Inc., CME Group Inc. and Cboe Global Markets Inc. all plan to offer cryptocurrency futures on just bitcoin, and not other variations."

futures exchanges care about one thing: volume. if there is sufficient volume for money to be made, they will list a contract. this is not some kind of loyalty contest. see @NewLiberty 's post above.

i think the last point shows @awemany is being too pessimistic. the mainstream narrative already is, emphatically: crypto is a reality. this will not be undone at this stage by the missteps of bitcoin legacy. large scale investors and speculators are ready to join the bandwagon, and are only interested in that which makes them money.

meanwhile, bitcoin cash is ready, willing and able to be deployed for all those use-cases dreamed long ago.

 

[awemany]

If one thinks about the dynamic further, and to eradicate the potential of Bitcoin, the next step from the banksters is getting Bitcoin fully out of the hands of the miners by the only feasible route of going towards a POW change. But I suspect this step will fail and I also suspect this will be after a market crash.

So, with my arguably not very great predictive capability on this, I wonder whether these are the next steps:

1. Core announces something actually useful that they want to have on BTC and becomes seemingly very, very nice when proposing it (maybe Schnorr Sigs)
2. Miners are hesitant and play Core's game
3. Market crash
4. Core uses the market crash to 'put pressure on the miners to do the obviously right thing'
5. Core opens up to a blocksize increase and also pulls out the POW threat
6. Core starts to "rally" with all their grassroots (==astroturfing) for their combined Schnorr + blocksize proposal.

Alternative scenarios 7a, 7b:
7a) Core fails in getting it out of the miner's hands and BCH overtakes BTC, showing the world once and for all who wears the pants in this game
7b) The miners fall in line once again and give Core what they want, spelling doom for BCH

The scenario 7b keeps me from going all in BCH.

I think this is why we have already seen hints of a POW change plan even though the Core team got everything they wanted.

 

[Mengerian]

it's a clear-headed article. but the contorsions the author has to go through in the attempt to remain neutral are quite telling.

Yeah, the way I read it the contortions are pretty obvious, and make the choice seem clear.

It's written as a choice between going for scale and market share first, versus banking on unproven future technology. Framed that way, I think most investors will see the value of Bitcoin Cash.

 

[Justus Ranvier]

@awemany What you're describing is nothing new. It happens during every mania/crash cycle.