Show Posts

This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.


Messages - speedy

Pages: 1 ... 13 14 15 16 17 18 19 [20] 21 22 23 24 25 26 27 ... 78
286
Markets have already discounted the halfing... Price won't double because of the halfing, i will guarantee that

If existing traders think that the halving is already priced in and therefore think that the current price is fair value, they think that because the halving will increase the price later and therefore Bitcoin is worth holding onto now for future returns.

Litecoin more than doubled because of its halving. You cant guarantee anything.

287
Bumping this very interesting topic, which Ive been thinking about a lot recently. My prediction:

The halving in 12 months will halve downward pressure (obviously) resulting in a probable doubling of the price to ~$500, meaning that mining will be just as profitable as it is now. The predictions of mining chaos are unfounded.

The halving will be great for Bitcoin because just 1.25 new coins every minute at a price of $500 is not a lot of downward pressure - Bitcoin's network effect means that users will be happy to keep buying in at that rate.

$500 / minute is a tiny cost to pay relative to a network with so much attention and demand.

Now that the halving is getting pretty soon, what do we think?


288
General Discussion / Re: Dan is doing the right thing .. again!
« on: June 30, 2015, 09:13:08 pm »
Except that you are double, no, quintuple dipping. Owning a BTS was what was to produce a profit and still is for everyone not I3 related. Now I3/Cryptonomex/Larimers/Devs get to profit off the code by selling it and "plug ins" to the highest bidder for extra dough in your pocket plus keeping your BTS. It's a win win for Cryptonomex and a win lose for everyone else.

Its a win win for a Cryptonomex and BTS holders. Why would you not want the core developers to have multiple revenue streams? The more money they can get, the more motivated developers can be hired and the less dilution is needed.

Newmine have you ever said anything positive here? Youre a waste of oxygen.

289
General Discussion / Re: BitLicense
« on: June 27, 2015, 10:46:16 am »
Quote
Virtual Currency Business Activity means the conduct of any one of the following types
of activities:
5. controlling, administering, or issuing a virtual currency.

If CMX does anything remotely like this, then it needs a bitlicense.

They dont control any virtual currency, just write open source software - its a fair argument. If they attempted to do something to BTS like enforce ID checks for everyone, the community would fork the software. Therefore they are not in control.

290
General Discussion / Re: BitLicense
« on: June 27, 2015, 09:52:16 am »
31 pages including:

Quote
Applicants must also provide an investigative background report prepared by an independent investigatory agency for each individual applicant, including information such as credit history, employment history, and motor vehicle ownership history. Three personal references from non-relatives are required for all applicants.
http://cointelegraph.com/news/114681/new-york-releases-31-page-bitlicense-application-form

What a total waste of time. They want to know what your old cars were? Why not ex-girlfriends too?

291
General Discussion / Re: BitLicense
« on: June 24, 2015, 09:50:09 pm »
Here is my reasoning at why you might be classed as a financial intermediary:

Ripple was fined because they were directly selling XRP, which they acknowledge is their only revenue source. XRP is clearly a financial product so the SEC made the argument they were an unlicensed financial intermediary.

Cryptonomex revenue stream is also largely made by selling BTS, which the community have voted all the delegate staff of Cryptonomex be able to do.

Whether the financial tokens are generated in one go and sold as with XRP, or the financial tokens are generated over time through some vote process as with BTS, I think the SEC wouldnt be interested in the semantics/technicals and see the 2 processes as equivalent.

Btw I dont neccessarily agree with this - just brainstorming but the parallels with XRP are there.

292
So IIUC BANX issue a UIA on the BTS blockchain and share drop on all existing BANX holders. Im wondering how a big a transaction fee do they pay to do that? Is it proportional to the number of bytes to store all those BANX addresses on the BTS chain?

293
General Discussion / Re: Dan's Interview is on 'Let's Talk Bitcoin'
« on: June 21, 2015, 05:30:58 pm »
Im listening through it now. Great interview!

Im at the point where Dan is talking about monetizing the software by licensing it for private blockchains. Next time Dan is on the show, how about inviting Andreas as well? I would love to hear him debate with Dan on this subject since Andreas has openly said stupid generalizations about how other blockchains are guaranteed to be less secure and pointless etc.

294
So does this mean I can trade (from my wallet of course) BTS for CCEDK.USD, even if I havent sent them my ID first? Or will their fiat IOUs take advantage of the whitelisting features?

295
Technical Support / Re: SmartAssets <- BitAssets
« on: June 13, 2015, 11:20:45 pm »
On the subject of BitAssets, when the 2.0 genesis block launches, will it include all balances of all BitAssets currently in existence, or will they be closed at current fair market value and all 2.0 BTS balances adjusted accordingly? That seems like the simplest way to do it.

296
Someone else will make a bitcoin collateralised BitUSD if bitshares doesn't.
That will be the one people use.

So you are saying that everything this community has been trying to do since day 1 is pointless, because bitcoin is the one true chain and its useless to make any other cryptocurrency.  Everyone should do everything with bitcoin instead because it was first.

Its not pointless to make another cryptocurrency, only because the BTC core developers are too comfortable with being the incumbent. As soon as the core developers realise how tying up BTC collateral in BitAssets could be huge for Bitcoin, they will rush to implement BitAssets into the BTC protocol too (I would).

I personally hope they do, because Bitcoin is not going away - check out its growth in transactions: https://blockchain.info/charts/n-transactions?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

297
Account names will be transferrable, so isnt name squatting a good idea, economically speaking?

298
Random Discussion / Re: Charles Hoskinson
« on: June 07, 2015, 08:48:42 pm »
...
Charles Hoskinson (9:02 PM - 28 Mar 2015): "let me be clear, bitshares does not work as executed."
https://twitter.com/IOHK_Charles/status/581909208435556352

He wasnt saying that here when his forum account was still active. I used to think he tries to be constructive, now I just think he likes to make noise. BitShares works at what it was intended to do, as anyone can clearly see if they look at the block explorer.

299
General Discussion / Re: Non-fungible BitUSD (i.e. just a CFD)
« on: June 04, 2015, 09:33:39 pm »
bitAssets 2.0 will lower the collateral to 100% to each side...check!

- for the daily cover process, i personal think it is not needed, but i would love to cover with the collateral

I should have read that massive thread, but how does only 100% from shorters make a blackswan unlikely? There were times when the BitUSD collateral went down to 183% (down from 300 obviously).

And having to cover means that shorters are still guaranteed to be at a disadvantage, no? Short term CFDs would still be desirable.

300
General Discussion / Non-fungible BitUSD (i.e. just a CFD)
« on: June 04, 2015, 09:13:05 pm »
I havent been keeping up with all the latest revisions (too much day-job) so sorry if this idea has been discussed before, but...

At the moment no one is shorting BitUSD, IMO because shorting requires too much commitment.

Shorters have to:
-Put down twice as much collateral as the longs
-Are not guaranteed that they can easily/quickly get any BitUSD to cover
-Their collateral cant even be used to cover, they have to buy more BitUSD to cover (is that still the case?)

The result is that shorting is just waaay too stressful (I have never shorted BitUSD).

So how about reusing the price feeds to allow very short term CFD bets that are totally symmetrical to both sides? Both sides put in 100% worth of collateral, and the CFD is closed after 24 hours. The CFD is not tradeable so no covering is required, and you dont have to constantly monitor your position because you know that it will be fairly settled after 24 hours anyway.

You could possibly mix the markets together for extra liquidity: some BitUSD longs might not care about fungibility or not, so they could either get matched by a 200% BitUSD shorter for a long term BitUSD, or just a 100% shorter for a short term CFD.

Good idea? I personally would love to take short term bets on BTS/BTC - there's just no way in hell I am willing to go through the stress of putting down twice as much collateral and then desperately looking around to find BitBTC to cover afterwards.

Pages: 1 ... 13 14 15 16 17 18 19 [20] 21 22 23 24 25 26 27 ... 78