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For discussion about Litecoin, the leading cryptocurrency derived from Bitcoin. Litecoin is developed with a focus on speed, efficiency, and wider initial coin distribution through the use of scrypt-based mining.
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Grayscale Crypto Investments Add Nearly $1 Billion in Q2 — Bitcoin Trust Posts Record Quarter (current BTC/USD price is $9,141.30)

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Grayscale Crypto Investments Add Nearly $1 Billion in Q2 — Bitcoin Trust Posts Record Quarter
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The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
submitted by coinsaladcom to CoinSalad [link] [comments]

$1.4M in Bitcoin Transactions: New High for Argentina as Confidence in the Peso Tanks (current BTC/USD price is $9,394.44)

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$1.4M in Bitcoin Transactions: New High for Argentina as Confidence in the Peso Tanks
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Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
submitted by coinsaladcom to CoinSalad [link] [comments]

So the highest price in USD 1 bitcoin could ever reach is 100mill?

1 satoshi is $1 so bitcoin could never be worth more than.... I'm confused what would that look like?
submitted by imjustguessingright to Bitcoin [link] [comments]

Cost to mine 1 Bitcoin is now $14,000 USD. "Bitcoin Price Chart Fractal Seen in 2019 Hints at $14K Within Months". I bet BTC price ascends to $14,000 in next 30 days! NewYorkCoin (NYC) is a faster, no fee version of Litecoin since 2014! Official New York Coin nycoin.net | newyorkcoin.net

Cost to mine 1 Bitcoin is now $14,000 USD. submitted by hivewalletvictim to NewYorkCoin [link] [comments]

Bitcoin price NOW is likely the lowest it will ever be in our lifetime. Cost to BUY 1 BTC is now LESS THAN cost to mine 1 BTC. Approx $7,000 USD. In 2 short months, the cost to mine 1 Bitcoin will DOUBLE. ❤️ BUY BTC TODAY ❤️ New York Coin (NYC) is a faster, free version of Bitcoin and Litecoin.

Bitcoin price NOW is likely the lowest it will ever be in our lifetime. Cost to BUY 1 BTC is now LESS THAN cost to mine 1 BTC. Approx $7,000 USD. In 2 short months, the cost to mine 1 Bitcoin will DOUBLE. ❤️ BUY BTC TODAY ❤️ New York Coin (NYC) is a faster, free version of Bitcoin and Litecoin. submitted by hivewalletvictim to NewYorkCoin [link] [comments]

Bitcoin in Zimbabwe – Part 1 of a New Documentary Podcast Series (current BTC/USD price is $5,949.87)

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Bitcoin in Zimbabwe – Part 1 of a New Documentary Podcast Series
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The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools. Follow us on Twitter @CoinSalad.
submitted by coinsaladcom to CoinSalad [link] [comments]

A Treatise on Bitcoin and Privacy Part 1: A Match Made in the Whitepaper (current BTC/USD price is $5,348.52)

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A Treatise on Bitcoin and Privacy Part 1: A Match Made in the Whitepaper
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Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools. Follow us on Twitter @CoinSalad.
submitted by coinsaladcom to CoinSalad [link] [comments]

How Much Bitcoin You Need to Be in the Richest 1% of BTC Holders (current BTC/USD price is $10,125.11)

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How Much Bitcoin You Need to Be in the Richest 1% of BTC Holders
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools. Follow us on Twitter @CoinSalad.
submitted by coinsaladcom to CoinSalad [link] [comments]

General question: At what point does comparing Bitcoin price to fiat (USD) value become meaningless? If Bitcoin reaches 1 million, or more, doesn’t that means the trust in fiat has fallen considerably?

submitted by Mendrinkbeer to Bitcoin [link] [comments]

Bitcoin is now 1.2 cents usd per bit. Time to start pricing in bits.

Bits makes sense as they will grow up to be $1.00 (at the McCafee level)
Sats will be equivalent to 1 cent usd at that time. So makes perfect CENTS to me!
What do you guys think?

Bitcoin BITS are cheap at 1.2 cents!
submitted by vroomDotClub to Bitcoin [link] [comments]

Bitcoin whale moves $1.1 billion in bitcoins for an $80 fee (current BTC/USD price is $8,778.62)

Latest Bitcoin News:
Bitcoin whale moves $1.1 billion in bitcoins for an $80 fee
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools. Follow us on Twitter @CoinSalad.
submitted by coinsaladcom to CoinSalad [link] [comments]

French entrepreneur steals €1.1 million worth of bitcoin from former firm in revenge for being sacked (current BTC/USD price is $7,483.09)

Latest Bitcoin News:
French entrepreneur steals €1.1 million worth of bitcoin from former firm in revenge for being sacked
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools. Follow us on Twitter @CoinSalad.
submitted by coinsaladcom to CoinSalad [link] [comments]

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submitted by IQstockbroker to u/IQstockbroker [link] [comments]

Getting Bitcoin price in CAD into excel?

If you could help that would be great.
I have managed to get live Bitcoin price in USD into my sheet. Then I am manually setting the exchange rate to 1.33.
Is there a relatively simple way to either import the CAD price from a site such as cbix.ca or import the live exchange rate and I can just apply that tot he btc usd rate I have.
I've been googling for hours and everything either gives me usd or is broken.

I can't even get the exchange rate to import :(

Thank you
submitted by NearnorthOnline to excel [link] [comments]

Some developer-related thoughts... 1) Every time BABcoin loses value, USD raised to pay devs in the BABcoin socialist scheme drops and becomes even less appealing. 2) Dev who won 200 BitCoin© at the CG conference be lovin' it as BitCoin© price rises.

submitted by jim-btc to bitcoincashSV [link] [comments]

Bitcoin Malaysia Evening Bitcoin price update: $10190 = 1 BTC | How to exchange cryptocurrency bitcoin to real money in MYR, SGD, INR, IDR, VND, RMB, HKD or Perfect Money USD (PM)?

Bitcoin Malaysia Evening Bitcoin price update: $10190 = 1 BTC | How to exchange cryptocurrency bitcoin to real money in MYR, SGD, INR, IDR, VND, RMB, HKD or Perfect Money USD (PM)? submitted by diubtc to u/diubtc [link] [comments]

Bitcoin Original: Reinstate Satoshi's original 32MB max blocksize. If actual blocks grow 54% per year (and price grows 1.54^2 = 2.37x per year - Metcalfe's Law), then in 8 years we'd have 32MB blocks, 100 txns/sec, 1 BTC = 1 million USD - 100% on-chain P2P cash, without SegWit/Lightning or Unlimited

TL;DR
Details
(1) The current observed rates of increase in available network bandwidth (which went up 70% last year) should easily be able to support actual blocksizes increasing at the modest, slightly lower rate of only 54% per year.
Recent data shows that the "provisioned bandwidth" actually available on the Bitcoin network increased 70% in the past year.
If this 70% yearly increase in available bandwidth continues for the next 8 years, then actual blocksizes could easily increase at the slightly lower rate of 54% per year.
This would mean that in 8 years, actual blocksizes would be quite reasonable at about 1.548 = 32MB:
Hacking, Distributed/State of the Bitcoin Network: "In other words, the provisioned bandwidth of a typical full node is now 1.7X of what it was in 2016. The network overall is 70% faster compared to last year."
https://np.reddit.com/btc/comments/5u85im/hacking_distributedstate_of_the_bitcoin_network/
http://hackingdistributed.com/2017/02/15/state-of-the-bitcoin-network/
Reinstating Satoshi's original 32MB "max blocksize" for the next 8 years or so would effectively be similar to the 1MB "max blocksize" which Bitcoin used for the previous 8 years: simply a "ceiling" which doesn't really get in the way, while preventing any "unreasonably" large blocks from being produced.
As we know, for most of the past 8 years, actual blocksizes have always been far below the "max blocksize" of 1MB. This is because miners have always set their own blocksize (below the official "max blocksize") - in order to maximize their profits, while avoiding "orphan" blocks.
This setting of blocksizes on the part of miners would simply continue "as-is" if we reinstated Satoshi's original 32MB "max blocksize" - with actual blocksizes continuing to grow gradually (still far below the 32MB "max blocksize" ceilng), and without introducing any new (risky, untested) "game theory" or economics - avoiding lots of worries and controversies, and bringing the community together around "Bitcoin Original".
So, simply reinstating Satoshi's original 32MB "max blocksize" would have many advantages:
  • It would keep fees low (so users would be happy);
  • It would support much higher prices (so miners would be happy) - as explained in section (2) below;
  • It would avoid the need for any any possibly controversial changes such as:
    • SegWit/Lightning (the hack of making all UTXOs "anyone-can-spend" necessitated by Blockstream's insistence on using a selfish and dangerous "soft fork", the centrally planned and questionable, arbitrary discount of 1-versus-4 for certain transactions); and
    • Bitcon Unlimited (the newly introduced parameters for Excessive Block "EB" / Acceptance Depth "AD").
(2) Bitcoin blocksize growth of 54% per year would correlate (under Metcalfe's Law) to Bitcoin price growth of around 1.542 = 2.37x per year - or 2.378 = 1000x higher price - ie 1 BTC = 1 million USDollars after 8 years.
The observed, empirical data suggests that Bitcoin does indeed obey "Metcalfe's Law" - which states that the value of a network is roughly proportional to the square of the number of transactions.
In other words, Bitcoin price has corresponded to the square of Bitcoin transactions (which is basically the same thing as the blocksize) for most of the past 8 years.
Historical footnote:
Bitcoin price started to dip slightly below Metcalfe's Law since late 2014 - when the privately held, central-banker-funded off-chain scaling company Blockstream was founded by (now) CEO Adam Back u/adam3us and CTO Greg Maxwell - two people who have historically demonstrated an extremely poor understanding of the economics of Bitcoin, leading to a very polarizing effect on the community.
Since that time, Blockstream launched a massive propaganda campaign, funded by $76 million in fiat from central bankers who would go bankrupt if Bitcoin succeeded, and exploiting censorship on r\bitcoin, attacking the on-chain scaling which Satoshi originally planned for Bitcoin.
Legend states that Einstein once said that the tragedy of humanity is that we don't understand exponential growth.
A lot of people might think that it's crazy to claim that 1 bitcoin could actually be worth 1 million dollars in just 8 years.
But a Bitcoin price of 1 million dollars would actually require "only" a 1000x increase in 8 years. Of course, that still might sound crazy to some people.
But let's break it down by year.
What we want to calculate is the "8th root" of 1000 - or 10001/8. That will give us the desired "annual growth rate" that we need, in order for the price to increase by 1000x after a total of 8 years.
If "you do the math" - which you can easily perform with a calculator or with Excel - you'll see that:
  • 54% annual actual blocksize growth for 8 years would give 1.548 = 1.54 * 1.54 * 1.54 * 1.54 * 1.54 * 1.54 * 1.54 * 1.54 = 32MB blocksize after 8 years
  • Metcalfe's Law (where Bitcoin price corresponds to the square of Bitcoin transactions or volume / blocksize) would give 1.542 = 2.37 - ie, 54% bigger blocks (higher volume or more transaction) each year could support about 2.37 higher price each year.
  • 2.37x annual price growth for 8 years would be 2.378 = 2.37 * 2.37 * 2.37 * 2.37 * 2.37 * 2.37 * 2.37 * 2.37 = 1000 - giving a price of 1 BTC = 1 million USDollars if the price increases an average of 2.37x per year for 8 years, starting from 1 BTC = 1000 USD now.
So, even though initially it might seem crazy to think that we could get to 1 BTC = 1 million USDollars in 8 years, it's actually not that far-fetched at all - based on:
  • some simple math,
  • the observed available bandwidth (already increasing at 70% per year), and
  • the increasing fragility and failures of many "legacy" debt-backed national fiat currencies and payment systems.
Does Metcalfe's Law hold for Bitcoin?
The past 8 years of data suggest that Metcalfe's Law really does hold for Bitcoin - you can check out some of the graphs here:
https://imgur.com/jLnrOuK
https://i.redd.it/kvjwzcuce3ay.png
https://cdn-images-1.medium.com/max/800/1*22ix0l4oBDJ3agoLzVtUgQ.gif
(3) Satoshi's original 32MB "max blocksize" would provide an ultra-simple, ultra-safe, non-controversial approach which perhaps everyone could agree on: Bitcoin's original promise of "p2p electronic cash", 100% on-chain, eventually worth 1 BTC = 1 million dollars.
This could all be done using only the whitepaper - eg, no need for possibly "controversial" changes like SegWit/Lightning, Bitcoin Unlimited, etc.
As we know, the Bitcoin community has been fighting a lot lately - mainly about various controversial scaling proposals.
Some people are worried about SegWit, because:
  • It's actually not much of a scaling proposal - it would only give 1.7MB blocks, and only if everyone adopts it, and based on some fancy, questionable blocksize or new "block weight" accounting;
  • It would be implemented as an overly complicated and anti-democratic "soft" fork - depriving people of their right to vote via a much simpler and safer "hard" fork, and adding massive and unnecessary "technical debt" to Bitcoin's codebase (for example, dangerously making all UTXOs "anyone-can-spend", making future upgrades much more difficult - but giving long-term "job security" to Core/Blockstream devs);
  • It would require rewriting (and testing!) thousands of lines of code for existing wallets, exchanges and businesses;
  • It would introduce an arbitrary 1-to-4 "discount" favoring some kinds of transactions over others.
And some people are worried about Lightning, because:
  • There is no decentralized (p2p) routing in Lightning, so Lightning would be a terrible step backwards to the "bad old days" of centralized, censorable hubs or "crypto banks";
  • Your funds "locked" in a Lightning channel could be stolen if you don't constantly monitor them;
  • Lighting would steal fees from miners, and make on-chain p2p transactions prohibitively expensive, basically destroying Satoshi's p2p network, and turning it into SWIFT.
And some people are worried about Bitcoin Unlimited, because:
  • Bitcoin Unlimited extends the notion of Nakamoto Consensus to the blocksize itself, introducing the new parameters EB (Excess Blocksize) and AD (Acceptance Depth);
  • Bitcoin Unlimited has a new, smaller dev team.
(Note: Out of all the current scaling proposals available, I support Bitcoin Unlimited - because its extension of Nakamoto Consensus to include the blocksize has been shown to work, and because Bitcoin Unlimited is actually already coded and running on about 25% of the network.)
It is normal for reasonable people to have the above "concerns"!
But what if we could get to 1 BTC = 1 million USDollars - without introducing any controversial new changes or discounts or consensus rules or game theory?
What if we could get to 1 BTC = 1 million USDollars using just the whitepaper itself - by simply reinstating Satoshi's original 32MB "max blocksize"?
(4) We can easily reach "million-dollar bitcoin" by gradually and safely growing blocks to 32MB - Satoshi's original "max blocksize" - without changing anything else in the system!
If we simply reinstate "Bitcoin Original" (Satoshi's original 32MB blocksize), then we could avoid all the above "controversial" changes to Bitcoin - and the following 8-year scenario would be quite realistic:
  • Actual blocksizes growing modestly at 54% per year - well within the 70% increase in available "provisioned bandwidth" which we actually happened last year
  • This would give us a reasonable, totally feasible blocksize of 1.548 = 32MB ... after 8 years.
  • Bitcoin price growing at 2.37x per year, or a total increase of 2.378 = 1000x over the next 8 years - which is similar to what happened during the previous 8 years, when the price went from under 1 USDollars to over 1000 USDollars.
  • This would give us a possible Bitcoin price of 1 BTC = 1 million USDollars after 8 years.
  • There would still be plenty of decentralization - plenty of fully-validating nodes and mining nodes), because:
    • The Cornell study showed that 90% of nodes could already handle 4MB blocks - and that was several years ago (so we could already handle blocks even bigger than 4MB now).
    • 70% yearly increase in available bandwidth, combined with a mere 54% yearly increase in used bandwidth (plus new "block compression" technologies such as XThin and Compact Blocks) mean that nearly all existing nodes could easily handle 32MB blocks after 8 years; and
    • The "economic incentives" to run a node would be strong if the price were steadily rising to 1 BTC = 1 million USDollars
    • This would give a total market cap of 20 trillion USDollars after about 8 years - comparable to the total "money" in the world which some estimates put at around 82 trillion USDollars.
So maybe we should consider the idea of reinstating Satoshi's Original Bitcoin with its 32MB blocksize - using just the whitepaper and avoiding controversial changes - so we could re-unite the community to get to "million-dollar bitcoin" (and 20 trillion dollar market cap) in as little as 8 years.
submitted by ydtm to btc [link] [comments]

1 BTC = 64 000 USD would be > $1 trillion market cap - versus $7 trillion market cap for gold, and $82 trillion of "money" in the world. Could "pure" Bitcoin get there without SegWit, Lightning, or Bitcoin Unlimited? Metcalfe's Law suggests that 8MB blocks could support a price of 1 BTC = 64 000 USD

Graph - Visualizing Metcalfe's Law: The relationship between Bitcoin's market cap and the square of the number of transactions
https://np.reddit.com/btc/comments/574l2q/graph_visualizing_metcalfes_law_the_relationship/
Bitcoin has its own E = mc2 law: Market capitalization is proportional to the square of the number of transactions. But, since the number of transactions is proportional to the (actual) blocksize, then Blockstream's artificial blocksize limit is creating an artificial market capitalization limit!
https://np.reddit.com/btc/comments/4dfb3bitcoin_has_its_own_e_mc2_law_market/
Bitcoin's market price is trying to rally, but it is currently constrained by Core/Blockstream's artificial blocksize limit. Chinese miners can only win big by following the market - not by following Core/Blockstream. The market will always win - either with or without the Chinese miners.
https://np.reddit.com/btc/comments/4ipb4q/bitcoins_market_price_is_trying_to_rally_but_it/
Getting the maximum "bang" from minimal changes
Maybe we don't need to "change" Bitcoin very much at all in order to reach $1 trillion market capitalization.
  • Some people are worried that SegWit would over-complicate the code, and Lightning will create centralized, censorable hubs
  • Other people are worried that Bitcoin Unlimited would give too much control to miners.
Maybe both groups of people could agree on a "minimal change" approach.
What if we simply change the "max blocksize" from 1 MB to 8 MB - and leave everything else unchanged?
Then...
  • Nobody would have to worry about "unknown game theory" involving Bitcoin Unlimited
  • And nobody would have to worry about "technical debt" involving SegWit, or "centralized hubs" with Lightning.
It be great if we could get to $1 trillion market cap the simple and safe way - just by following Satoshi's vision.
You Do The Math - u/ydtm !
Just for the fun of it, we can estimate some rough projections for the next four years - up until the time of the next "halving":
  • 1.68 * 1.68 * 1.68 * 1.68 = 8, so let's say that blocksize goes up 1.68x (ie 68%) per year, or 8x over four years.
  • 2.83 * 2.83 * 2.83 * 2.83 = 64, so let's say that price goes up 2.83x (ie 183%) per year, or 64x over four years.
These certainly aren't "outrageous" estimates - in fact, they're fairly conservative and realistic - especially given the ongoing problems in the "legacy" system of "fiat" currencies (devaluation, war on cash, hyperinflation, bank bail-ins, gold confiscation, etc.)
So, with minimal alterations (simply changing a "1" to an "8" in the code, and making any other associated changes), after 4 years of this kind of realistic projected growth, Bitcoin could be in a very, very good place.
By 2020-2021, Bitcoin price could be on the moon - and Bitcoin "full nodes" could be decentralized all over the face of the Earth
  • Bitcoin price over 60 000 USD
  • Bitcoin market cap over $1 trillion USD
  • Bitcoin blocksize around 8 MB - which the vast majority of users would easily be able to download every 10 minutes (even behind Tor)
This might be the simplest and safest path to success for Bitcoin right now.
Money Bandwidth makes the world go around
Installing broadband is not "rocket science". It's just laying some "dumb" cables.
The farmer who built her own broadband
https://np.reddit.com/technology/comments/5khs33/the_farmer_who_built_her_own_broadband/
http://www.bbc.com/news/technology-37974267
If Bitcoin-over-broadband turns out to be the "gateway" to financial freedom (allowing people to run their own full / validating / non-mining Bitcoin nodes)...
...then Bitcoin itself could end up being the "great motivator" that unleashes a mad race where communities all around the world lay cables in the ground - due to pressure from people who need Bitcoin in order to ensure their financial freedom for themselves and their families.
"What if every bank and accounting firm needed to start running a Bitcoin node?" – bdarmstrong (Brian Armstrong, founder & CEO of Coinbase)
https://np.reddit.com/btc/comments/3zaony/what_if_every_bank_and_accounting_firm_needed_to/
Note: The estimate of $82 trillion of "money" in the world came from a recent article in the Financial Times of London, quoting a study done by the CIA in 2014.
TL;DR: I am one of the biggest pessimists about most things in the world. But I'm a big optimist about Satoshi's Bitcoin - and about its ability to the moon while staying decentralized - with almost no changes to the existing code.
UPDATE:
WARNING: A certain well-known person, who always gets massively downvoted on this more-free sub, is commenting below (and getting massively downvoted as usual), trying to deploy the "scare tactic" of "OMG DATACENTERS!!!1!" - which is actually a straw man (ie, it's a non-issue).
Please remember that the OP is based specifically on a 8 MB blocksize - which would not need the dreaded DATACENTERS!!!1!" - because a sufficient number of people in the world can already download 8 MB in 10 minutes (even behind Tor) on their home Internet connections.
So beware of trolls / disruptors who trot out this straw man / scare tactic of "DATACENTERS!!!1!".
This is tired piece of propaganda on their part - which has been debunked repeatedly - but they still keep trying to scare people with this non-issue.
The whole idea of this OP is to argue that we can potentially get to around 50 000 - 60 000 USD per coin, and $1 trillion market cap - merely by allowing the blocksize to grow from 1 MB to 8 MB - and not changing anything else in the code - no SegWit (although solving transaction malleability and quadratic time could certainly be added at some point), no Lightning - no Bitcoin Unlimited - and... no datacenters.
Satoshi's Bitcoin is a really massive success after just 8 years - and the ballpark figures in this OP suggest that it can be a really, really, really, really massive success in something like 4 more years - by making only a tiny, Satoshi-approved change to the code (changing the "max blocksize" from 1 MB to 8 MB), and doing no "weird stuff" - no SegWit-as-a-spaghetti-code-Soft-Fork, no Lightning-centralized-hubs, and no Dreaded Datacenters!
Don't mess with success!
And don't listen to trolls lying and saying that 8 MB blocks would need DATACENTERS!!!1!
Remember: If you can download 8 MB in 10 minutes at home - preferably behind Tor - then you can run a full node - potentially supporting numbers in the ballpark of USD 50 000 - 60 000 per coin, $1 trillion market cap - with lots of other users like you running nodes around the world - and no major changes to today's code (just changing 1 MB to 8 MB) - and no DATACENTERS!!!1!
submitted by ydtm to btc [link] [comments]

Bitcoin SV Price Prediction $714.30 - Bitcoin SV Price in 1 Years Time - Future Bitcoin SV (BSV) Price Predictions - BSV/USD Forecast - Coinliker.com

Bitcoin SV Price Prediction $714.30 - Bitcoin SV Price in 1 Years Time - Future Bitcoin SV (BSV) Price Predictions - BSV/USD Forecast - Coinliker.com submitted by CoinLiker to bitcoinsv [link] [comments]

AXA/Blockstream are suppressing Bitcoin price at 1000 bits = 1 USD. If 1 bit = 1 USD, then Bitcoin's market cap would be 15 trillion USD - close to the 82 trillion USD of "money" in the world. With Bitcoin Unlimited, we can get to 1 bit = 1 USD on-chain with 32MB blocksize ("Million-Dollar Bitcoin")

TL;DR:
~ YouDoTheMath u/ydtm
Details:
(1) Who is AXA? Why and how would they want to suppress the Bitcoin price?
Blockstream is now controlled by the Bilderberg Group - seriously! AXA Strategic Ventures, co-lead investor for Blockstream's $55 million financing round, is the investment arm of French insurance giant AXA Group - whose CEO Henri de Castries has been chairman of the Bilderberg Group since 2012.
https://np.reddit.com/btc/comments/47zfzt/blockstream_is_now_controlled_by_the_bilderberg/
If Bitcoin becomes a major currency, then tens of trillions of dollars on the "legacy ledger of fantasy fiat" will evaporate, destroying AXA, whose CEO is head of the Bilderbergers. This is the real reason why AXA bought Blockstream: to artificially suppress Bitcoin volume and price with 1MB blocks.
https://np.reddit.com/btc/comments/4r2pw5/if_bitcoin_becomes_a_major_currency_then_tens_of/
The insurance company with the biggest exposure to the 1.2 quadrillion dollar (ie, 1200 TRILLION dollar) derivatives casino is AXA. Yeah, that AXA, the company whose CEO is head of the Bilderberg Group, and whose "venture capital" arm bought out Bitcoin development by "investing" in Blockstream.
https://np.reddit.com/btc/comments/4k1r7v/the_insurance_company_with_the_biggest_exposure/
Greg Maxwell used to have intelligent, nuanced opinions about "max blocksize", until he started getting paid by AXA, whose CEO is head of the Bilderberg Group - the legacy financial elite which Bitcoin aims to disintermediate. Greg always refuses to address this massive conflict of interest. Why?
https://np.reddit.com/btc/comments/4mlo0z/greg_maxwell_used_to_have_intelligent_nuanced/
Who owns the world? (1) Barclays, (2) AXA, (3) State Street Bank. (Infographic in German - but you can understand it without knowing much German: "Wem gehört die Welt?" = "Who owns the world?") AXA is the #2 company with the most economic poweconnections in the world. And AXA owns Blockstream.
https://np.reddit.com/btc/comments/5btu02/who_owns_the_world_1_barclays_2_axa_3_state/
(2) What evidence do we have that Core and AXA-owned Blockstream are actually impacting (suppressing) the Bitcoin price?
This trader's price & volume graph / model predicted that we should be over $10,000 USD/BTC by now. The model broke in late 2014 - when AXA-funded Blockstream was founded, and started spreading propaganda and crippleware, centrally imposing artificially tiny blocksize to suppress the volume & price.
https://np.reddit.com/btc/comments/5obe2m/this_traders_price_volume_graph_model_predicted/
This graph shows Bitcoin price and volume (ie, blocksize of transactions on the blockchain) rising hand-in-hand in 2011-2014. In 2015, Core/Blockstream tried to artificially freeze the blocksize - and artificially froze the price. Bitcoin Classic will allow volume - and price - to freely rise again.
https://np.reddit.com/btc/comments/44xrw4/this_graph_shows_bitcoin_price_and_volume_ie/
Also see a similar graph in u/Peter__R's recent article on Medium - where the graph clearly shows the same Bitcoin price suppression - ie price uncoupling from adoption and dipping below the previous tightly correlated trend - starting right at that fateful moment when Blockstream came on the scene and told Bitcoiners that we can't have nice things anymore like on-chain scaling and increasing adoption and price: late 2014.
Graph - Visualizing Metcalfe's Law: The relationship between Bitcoin's market cap and the square of the number of transactions
https://np.reddit.com/btc/comments/574l2q/graph_visualizing_metcalfes_law_the_relationship/
Bitcoin has its own E = mc2 law: Market capitalization is proportional to the square of the number of transactions. But, since the number of transactions is proportional to the (actual) blocksize, then Blockstream's artificial blocksize limit is creating an artificial market capitalization limit!
https://np.reddit.com/btc/comments/4dfb3bitcoin_has_its_own_e_mc2_law_market/
1 BTC = 64 000 USD would be > $1 trillion market cap - versus $7 trillion market cap for gold, and $82 trillion of "money" in the world. Could "pure" Bitcoin get there without SegWit, Lightning, or Bitcoin Unlimited? Metcalfe's Law suggests that 8MB blocks could support a price of 1 BTC = 64 000 USD
https://np.reddit.com/btc/comments/5lzez2/1_btc_64_000_usd_would_be_1_trillion_market_cap/
(3) "But no - they'd never do that!"
Actually - yes, they would. And "they" already are. For years, governments and central bankers have been spending trillions in fiat on wars - and eg suppressing precious metals prices by flooding the market with "fake (paper) gold" and "fake (paper) silver" - to prevent the debt- & war-backed PetroDollar from collapsing.
The owners of Blockstream are spending $76 million to do a "controlled demolition" of Bitcoin by manipulating the Core devs & the Chinese miners. This is cheap compared to the $ trillions spent on the wars on Iraq & Libya - who also defied the Fed / PetroDollar / BIS private central banking cartel.
https://np.reddit.com/btc/comments/5q6kjo/the_owners_of_blockstream_are_spending_76_million/
JPMorgan suppresses gold & silver prices to prop up the USDollar - via "naked short selling" of GLD & SLV ETFs. Now AXA (which owns $94 million of JPMorgan stock) may be trying to suppress Bitcoin price - via tiny blocks. But AXA will fail - because the market will always "maximize coinholder value"
https://np.reddit.com/btc/comments/4vjne5/jpmorgan_suppresses_gold_silver_prices_to_prop_up/
Why did Blockstream CTO u/nullc Greg Maxwell risk being exposed as a fraud, by lying about basic math? He tried to convince people that Bitcoin does not obey Metcalfe's Law (claiming that Bitcoin price & volume are not correlated, when they obviously are). Why is this lie so precious to him?
https://np.reddit.com/btc/comments/57dsgz/why_did_blockstream_cto_unullc_greg_maxwell_risk/
If you had $75 million invested in Blockstream, and you saw that stubbornly freezing the blocksize at 1 MB for the next year was clogging up the network and could kill the currency before LN even had a chance to roll out, wouldn't you support an immediate increase to 2 MB to protect your investment?
https://np.reddit.com/btc/comments/48xm28/if_you_had_75_million_invested_in_blockstream_and/
[Tinfoil] What do these seven countries have in common? (Iraq, Syria, Lebanon, Libya, Somalia, Sudan, and Iran) In the context of banking, one that sticks out is that none of them is listed among the 56 member banks of the Bank for International Settlements (BIS).
https://np.reddit.com/bitcoin_uncensored/comments/3yits0/tinfoil_what_do_these_seven_countries_have_in/
(4) What can we do to fight back and let Bitcoin's price continue to rise again?
  • Reject the Central Blocksize Planners at Core/Blockstream - and the censors at r\bitcoin.
  • Install Bitcoin Unlimited, which supports market-based blocksize in accordance with Satoshi's original vision.
  • Be patient - and persistent - and decentralized - and Bitcoin will inevitably win.
The moderators of r\bitcoin have now removed a post which was just quotes by Satoshi Nakamoto.
https://np.reddit.com/btc/comments/49l4uh/the_moderators_of_rbitcoin_have_now_removed_a/
"Notice how anyone who has even remotely supported on-chain scaling has been censored, hounded, DDoS'd, attacked, slandered & removed from any area of Core influence. Community, business, Hearn, Gavin, Jeff, XT, Classic, Coinbase, Unlimited, ViaBTC, Ver, Jihan, Bitcoin.com, btc" ~ u/randy-lawnmole
https://np.reddit.com/btc/comments/5omufj/notice_how_anyone_who_has_even_remotely_supported/
"I was initially in the small block camp. My worry was decentralization & node count going down as a result. But when Core refused to increase the limit to 4MB, which at the time no Core developer thought would have a negative effect, except Luke-Jr, I began to see ulterior motives." u/majorpaynei86
https://np.reddit.com/btc/comments/5748kb/i_was_initially_in_the_small_block_camp_my_worry/
Satoshi Nakamoto, October 04, 2010, 07:48:40 PM "It can be phased in, like: if (blocknumber > 115000) maxblocksize = largerlimit / It can start being in versions way ahead, so by the time it reaches that block number and goes into effect, the older versions that don't have it are already obsolete."
https://np.reddit.com/btc/comments/3wo9pb/satoshi_nakamoto_october_04_2010_074840_pm_it_can/
The debate is not "SHOULD THE BLOCKSIZE BE 1MB VERSUS 1.7MB?". The debate is: "WHO SHOULD DECIDE THE BLOCKSIZE?" (1) Should an obsolete temporary anti-spam hack freeze blocks at 1MB? (2) Should a centralized dev team soft-fork the blocksize to 1.7MB? (3) OR SHOULD THE MARKET DECIDE THE BLOCKSIZE?
https://np.reddit.com/btc/comments/5pcpec/the_debate_is_not_should_the_blocksize_be_1mb/
"Bitcoin Unlimited ... makes it more convenient for miners and nodes to adjust the blocksize cap settings through a GUI menu, so users don't have to mod the Core code themselves (like some do now). There would be no reliance on Core (or XT) to determine 'from on high' what the options are." - ZB
https://np.reddit.com/btc/comments/3zki3h/bitcoin_unlimited_makes_it_more_convenient_fo
Bitcoin Unlimited is the real Bitcoin, in line with Satoshi's vision. Meanwhile, BlockstreamCoin+RBF+SegWitAsASoftFork+LightningCentralizedHub-OfflineIOUCoin is some kind of weird unrecognizable double-spendable non-consensus-driven fiat-financed offline centralized settlement-only non-P2P "altcoin"
https://np.reddit.com/btc/comments/57brcb/bitcoin_unlimited_is_the_real_bitcoin_in_line/
The Nine Miners of China: "Core is a red herring. Miners have alternative code they can run today that will solve the problem. Choosing not to run it is their fault, and could leave them with warehouses full of expensive heating units and income paid in worthless coins." – tsontar
https://np.reddit.com/btc/comments/3xhejm/the_nine_miners_of_china_core_is_a_red_herring/?st=iz7029hc&sh=c6063b52
ViABTC: "Why I support BU: We should give the question of block size to the free market to decide. It will naturally adjust to ever-improving network & technological constraints. Bitcoin Unlimited guarantees that block size will follow what the Bitcoin network is capable of handling safely."
https://np.reddit.com/btc/comments/574g5l/viabtc_why_i_support_bu_we_should_give_the/
Fun facts about ViaBTC: Founded by expert in distributed, highly concurrent networking from "China's Google". Inspired by Viaweb (first online store, from LISP guru / YCombinator founder Paul Graham). Uses a customized Bitcoin client on high-speed network of clusters in US, Japan, Europe, Hong Kong.
https://np.reddit.com/btc/comments/57e0t8/fun_facts_about_viabtc_founded_by_expert_in/
Bitcoin's specification (eg: Excess Blocksize (EB) & Acceptance Depth (AD), configurable via Bitcoin Unlimited) can, should & always WILL be decided by ALL the miners & users - not by a single FIAT-FUNDED, CENSORSHIP-SUPPORTED dev team (Core/Blockstream) & miner (BitFury) pushing SegWit 1.7MB blocks
https://np.reddit.com/btc/comments/5u1r2d/bitcoins_specification_eg_excess_blocksize_eb/
The number of blocks being mined by Bitcoin Unlimited is now getting very close to surpassing the number of blocks being mined by SegWit! More and more people are supporting BU's MARKET-BASED BLOCKSIZE - because BU avoids needless transaction delays and ultimately increases Bitcoin adoption & price!
https://np.reddit.com/btc/comments/5rdhzh/the_number_of_blocks_being_mined_by_bitcoin/
I think the Berlin Wall Principle will end up applying to Blockstream as well: (1) The Berlin Wall took longer than everyone expected to come tumbling down. (2) When it did finally come tumbling down, it happened faster than anyone expected (ie, in a matter of days) - and everyone was shocked.
https://np.reddit.com/btc/comments/4kxtq4/i_think_the_berlin_wall_principle_will_end_up/
submitted by ydtm to btc [link] [comments]

Greg Maxwell has now publicly confessed that he is engaging in deliberate market manipulation to artificially suppress Bitcoin adoption and price. He could be doing this so that he and his associates can continue to accumulate while the price is still low (1 BTC = $570, ie 1 USD can buy 1750 "bits")

https://archive.is/55VtA#selection-301.128-301.394
Greg Maxwell: If you imagine that everyone in the world would wake up tomorrow and know in their heart of hearts that bitcoin would be the true reserve currency of the world, then this would not be good news. The result would be war. People would fight over the supply of bitcoin.
The above statement is a surprisingly revealing admission by Gregory Maxwell (self-appointed dictator of Bitcoin monetary policy CTO of Blockstream, and architect of the Core stalling scaling road-map signed by 57 devs and wannabe devs).
It is quoted from the transcript of the invite-only, semi-transparent (manually transcribed, not recorded) Fed meeting private meeting between Core/Blockstream devs and Chinese miners, held in Silicon Valley on July 30-31, 2016.
There is only one way that a trader (or a regulator!) would interpret the above statement by Gregory Maxwell nullc, where he (perhaps inadvertently but) openly admits that he is trying to prevent a free market where "people would fight over the supply of bitcoin".
Greg's statement constitutes a clear and damning admission of attempted market manipulation, as typically used for activities such as insider trading, and front-running - which are illegal in regulated markets.
Greg Maxwell has now publicly admitted that he is attempting to artificially suppress Bitcoin adoption and price, in the short term.
Maybe he is doing this so that he and his associates can continue to accumulate while the price is still low (1 BTC = $570, ie 1 USD can buy 1750 "bits" - where 1 BTC = 1'000'000 "bits").
Or maybe Greg - and his buddy Adam Back, President of Blockstream - could simply be doing this for any number of reasons related to their ignorance of how economics and politics actually work with open-source currencies.
Either way, this kind of centralized market manipulation is outrageous.
It should not be tolerated in any market in a publicly traded asset - whether regulated or unregulated.
By the way, as we all know, the total supply of Bitcoin is 21 million BTC, or 21 trillion "bits" - which is similar to total money supply for many other measures of currency or wealth (ie, in the tens of trillions of units).
And as we also know, many measures of total world currency or wealth are also in this same range: around 10s of trillions of units (ie: dollars, etc.).
This suggests that (for people who, in Greg's words, already "know in their heart of hearts that bitcoin would be the true reserve currency of the world"), the current price of 1 USD = 1750 "bits" (market-manipulated by Greg Maxwell) is ridiculously low - ie, it's a "steal".
So, people who are currently "short" on bitcoin (ie, they want to buy more), might be thankful for Greg Maxwell's market manipulation - where he is exploiting his position as self-appointed dictator of Bitcoin Blockstream CTO, to engage in central planning in order to manipulate the market, by artificially suppressing Bitcoin adoption and price a while longer (by forcing his "tiny-blocks" approach on everyone: the notorious 1 MB "max blocksize") - simply because he can and he wants to.
Meanwhile, in a regulated market, this sort of blatant centralized "insider influence" on a publicly traded asset class or currency would be illegal.
The only reason Blockstream is able to get away with this kind of crime bullshit is because Bitcoin is unregulated - and the only people who can stop them at this point is us: the Bitcoin community.
For the record, I believe the following:
  • Government interference with Bitcoin would be wrong.
  • Market manipulation of Bitcoin, by artificially suppressing adoption and price, as practiced by Greg Maxwell, is also wrong.
  • The Bitcoin community can and should regulate itself - by letting the free market determine things like what code to run, what "max blocksize" (if any) to adopt - which will in turn naturally determine Bitcoin adoption and price.
So, this public admission of market manipulation by Greg Maxwell constitutes yet another reason why the community should reject his attempt to become some kind of self-appointed dictator for Bitcoin.
Specifically, we can and should use other code (not developed by Greg Maxwell and his minions at Core/Blockstream) which does not impose an artificial 1 MB "max blocksize" - which repeated studies have shown is far below the blocksize supported by our current technology (which would be up to up to 4 MB according to the Cornell study - or even 20 MB, using u/Peter__R's proposed "Xthin" approach).
For additional background, below are 3 previous posts from last week, regarding Core/Blockstream's centralized, behind-the-scenes manipulation of Bitcoin adoption and price:
https://np.reddit.com/btc/comments/4vfkpthe_fedfomc_holds_meetings_to_decide_on_money/
The Fed/FOMC holds meetings to decide on money supply. Core/Blockstream & Chinese miners now hold meetings to decide on money velocity. Both are centralized decision-making. Both are the wrong approach.
Having a "max blocksize" effectively imposes a "maximum money velocity" for Bitcoin - needless central economic planning at its worst.
We should not be waiting for insider information from Ben Bernanke or Janet Yellen or some creepy scammer named u/btcdrak or some economically clueless kid like u/maaku7 in order to determine how our financial system operates.
https://np.reddit.com/btc/comments/4vgwe7/so_on_the_expiration_date_of_the_hk_stalling/
So, on the expiration date of the HK stalling / non-scaling non-agreement, Viacoin scammer u/btcdrak calls a meeting with no customer-facing businesses invited (just Chinese miners & Core/Blockstream), and no solutions/agreements allowed, and no transparency (just a transcript from u/kanzure). WTF!?
Bitcoin's so-called "governance" is being hijacked by some anonymous scammer named u/btcdrak who created a shitcoin called Viacoin and who's a subcontractor for Blockstream - calling yet another last-minute stalling / non-scaling meeting on the expiration date of Core/Blockstream's previous last-minute stalling / non-scaling non-agreement - and this non-scaling meeting is invite-only for Chinese miners and Core/Blockstream (with no actual Bitcoin businesses invited) - and economic idiot u/maaku7 who also brought us yet another shitcoin called Freicoin is now telling us that no actual solutions will be provided because no actual agreements will be allowed - and this invite-only no-industry no-solutions / no-agreements non-event will be manually transcribed by some guy named u/kanzure who hates u/Peter__R (note: u/Peter__R gave us actual solutions like Bitcoin Unlimited and massive on-chain scaling via XThin) - and as usual this invite-only non-scaling no-solutions / no-agreements no-industry invite-only non-event is being paid for by some fantasy fiat finance firm AXA whose CEO is head of the Bilderberg Group which will go bankrupt if Bitcoin succeeds. What the fuck?!?
https://np.reddit.com/btc/comments/4vl65n/remember_when_bitcoin_was_to_be_ruled_by_math_not/
Remember when Bitcoin was to be ruled by "math not men"? Whether you support bigger or smaller blocks, and whether you're "short" Bitcoin (you want the price to go down, so you can buy), or "long" (you want the price to go up, so you can sell) - you should still support decentralized governance.
...
The potential for manipulation
In the past, I've communicated with several experienced old-time traders and consultants from Wall Street regarding Bitcoin.
And many of them say they won't touch Bitcoin with a ten-foot pole because it's quite obvious to them that (in the absence of regulation), a new asset class like Bitcoin is horribly vulnerable to all sorts of behind-the-scenes manipulation.
They've seen it all before. They know all the ins and outs of how people with "insider information" can rig the market - and they can already see plenty of warning signs and alarm bells showing how easy it would be to pull off this kind of market manipulation in Bitcoin.
...
A handful of insiders can easily manipulate this "max blocksize" number - deciding whether and when and how it will get changed, and how much, and how often - so they could potentially manipulate the price - depending on their own personal preferences.
...
Is there a solution?
As you can see from all of the above, the main problem facing Bitcoin right now is centralized governance.
Of course, code inevitably does have to be (centrally) written by someone.
But there are things we can do right now to minimize the amount of centralized intervention in Bitcoin's code and governance.
Whenever possible, we can and should favor code which requires a minimum of centralized interference.
Core/Blockstream have basically spent the past year or two tying themselves up in knots, and disrupting the community and the market - and maybe even suppressing the price - due to their stubborn, selfish, destructive refusal to provide parameterized code where the market can set certain values on its own - most notably, the "maximum blocksize".
Meanwhile, code such as Bitcoin Unlimited (and also Bitcoin Classic, once it adopts BitPay's Adaptive Blocksize Limit) puts the "governance" for things like "max blocksize" back where it belongs - in the hands of the users, in the marketplace.
Using more-parameterized code is an obvious technique known by anyone who has taken a "Programming 101" course.
Everyone knows that parameterized code is the easiest way to let the market set some parameters - avoiding the dangers of having these parameters set behind closed doors by a centralized cartel of powerful people.
We can and should all work together to make this a reality again - by adopting more-parameterized code such as Bitcoin Unlimited or Bitcoin Classic.
This will allow us to realize the original promise of Bitcoin - where "The Users and the Market Decide - Not Central Planners."
submitted by ydtm to btc [link] [comments]

(Venezuela) Last week volume traded in Localbitcoin was 1,309 BTC (ATH is 1,974) . One BTC is around 9,100,000 BsS (ATH). Monthly minimum is 4,500 Bs or 1.8 USD. Two weeks ago BTC price was 3,300,000 Bs.S and minimum wage was 4.6 USD. 2018 inflation was 1,700,000% /r/Bitcoin

(Venezuela) Last week volume traded in Localbitcoin was 1,309 BTC (ATH is 1,974) . One BTC is around 9,100,000 BsS (ATH). Monthly minimum is 4,500 Bs or 1.8 USD. Two weeks ago BTC price was 3,300,000 Bs.S and minimum wage was 4.6 USD. 2018 inflation was 1,700,000% /Bitcoin submitted by cryptoanalyticabot to cryptoall [link] [comments]

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