Binky The Doormat
Footballguy
Let me know when you find a good place again for real boner pills - tired of paying these ridiculous prices.
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Bitcoin-Explain to me how to buy these things (4 Viewers)
- Thread starter Sheriff Bart
- Start date
Mario Kart
Footballguy
Who's mining? I should have looked into it and started it way back when. 2017 has been terrific for Bitcoin holders. $3,000 per coin... geez.
ILUVBEER99
Footballguy
ren hoek
Footballguy
I was into this stuff back in 2013 but didn't really have the disposable income til late last year. I traded a guy $200 for .825 btc at the time. In practical terms this was like investing 40% of your life savings in a bunch of 1's and 0's. I sold a little later on when it hit like $850 or so.
If I had the dollar amount invested then that I do now and stuck with it I'd probably have an easy $50k to show for it. Sigh
LAUNCH
Footballguy
https://motherboard.vice.com/en_us/article/heres-how-traders-lost-millions-in-the-first-ethereum-flash-crash?utm_source=mbtwitter
Here’s How Traders Lost Millions in the First Ethereum Flash Crash
https://ethereumprice.org/
If you blinked yesterday, you may have missed something that sent some investors – briefly – into panic. The price of Ether experienced a flash crash on the GDAX exchange, falling from $328 to a temporary trading price of as low as $0.10. A “multi-million dollar” amount of Ether was dumped on the market, buying up orders between $317.81 to $224.48 and triggering a cascade of liquidations that sent the price plummeting. Despite quickly recovering, the event (which has happened before and will happen again) highlighted how much the market can be moved by a single whale – of which there are now many.
The timing wasn’t ideal, as the price of Ether had already been experiencing significant volatility following the Status.im token sale. Status, which was raising funds to develop its mobile “gateway to the decentralized world of Ethereum” had raised so much money (exact amount to be confirmed) in such a short period of time that the Ethereum network ground to a near-halt. At the time of writing, nearly 100,000 transactions have been sent to the Status.im token sale contract which opened 48 hours ago – this does not take into account the many tens of thousands of transactions that were not even broadcast through 3rd party services like MyEtherWallet. To put that figure into perspective, the entire network averaged only 50,000 transactions per day this time last year.
The falling price may well have been a wake up call to those unaware of just how challenging Ethereum’s scaling problem is. With a maximum network throughput of roughly 15 transactions per second, there is desperate need for a scaling solution if Ethereum is to become the “world computer”. However, unlike Bitcoin’s scaling debate which has lasted a number of years, the solutions to scaling the Ethereum blockchain are generally agreed and may be realized in the coming months. These solutions include “offchain” payment channels like Raiden and the shift to a Proof of Stake consensus mechanism and “sharding“. A proposal by the Ethereum Foundation’s, Nick Johnson also highlighted the potential for running token sales through an “offchain auction-based smart contract” which could dramatically reduce the pressure on the network.
The honeymoon period of 1000% returns for Ethereum investors may be showing signs of fading. And with a very possible split in the Bitcoin blockchain in August, there is plenty of uncertainty ahead.
Here’s How Traders Lost Millions in the First Ethereum Flash Crash
https://ethereumprice.org/
If you blinked yesterday, you may have missed something that sent some investors – briefly – into panic. The price of Ether experienced a flash crash on the GDAX exchange, falling from $328 to a temporary trading price of as low as $0.10. A “multi-million dollar” amount of Ether was dumped on the market, buying up orders between $317.81 to $224.48 and triggering a cascade of liquidations that sent the price plummeting. Despite quickly recovering, the event (which has happened before and will happen again) highlighted how much the market can be moved by a single whale – of which there are now many.
The timing wasn’t ideal, as the price of Ether had already been experiencing significant volatility following the Status.im token sale. Status, which was raising funds to develop its mobile “gateway to the decentralized world of Ethereum” had raised so much money (exact amount to be confirmed) in such a short period of time that the Ethereum network ground to a near-halt. At the time of writing, nearly 100,000 transactions have been sent to the Status.im token sale contract which opened 48 hours ago – this does not take into account the many tens of thousands of transactions that were not even broadcast through 3rd party services like MyEtherWallet. To put that figure into perspective, the entire network averaged only 50,000 transactions per day this time last year.
The falling price may well have been a wake up call to those unaware of just how challenging Ethereum’s scaling problem is. With a maximum network throughput of roughly 15 transactions per second, there is desperate need for a scaling solution if Ethereum is to become the “world computer”. However, unlike Bitcoin’s scaling debate which has lasted a number of years, the solutions to scaling the Ethereum blockchain are generally agreed and may be realized in the coming months. These solutions include “offchain” payment channels like Raiden and the shift to a Proof of Stake consensus mechanism and “sharding“. A proposal by the Ethereum Foundation’s, Nick Johnson also highlighted the potential for running token sales through an “offchain auction-based smart contract” which could dramatically reduce the pressure on the network.
The honeymoon period of 1000% returns for Ethereum investors may be showing signs of fading. And with a very possible split in the Bitcoin blockchain in August, there is plenty of uncertainty ahead.
LAUNCH
Footballguy
https://www.cyberscoop.com/ether-hack-32-million-cryptocurrency/
Hackers have stolen $32 million worth of Ether, a popular and increasingly valuable cryptocurrency, by exploiting a critical security vulnerability in wallet software that allowed an attacker to steal over 153,000 Ether.
The theft is visible on Ether’s blockchain here, according to Gavin Wood, a co-founder of Ethereum, the software behind the currency.
The attack began late on Tuesday and continued on Wednesday in a total of three transactions.
When the attack was finally noticed, a group of white hat hackers used the same exploit to drain money from other vulnerable wallets in order to protect them from the theft. The money saved totaled 377,000 ETH worth over $75 million.
“The white hat group were made aware of a vulnerability in a specific version of a commonly used multisig contract,” the group wrote. “This vulnerability was trivial to execute, so they took the necessary action to drain every vulnerable multisig they could find as quickly as possible.”
The ethical hackers promised to return the funds to their rightful owners once the security threat passed.
The cryptocurrency appears to have been stolen from the online gambling website Edgeless Casino, the smart-contract platform Aeternity and the commerce platform Swarm City, according to a blog post from Swarm City.
Today’s incident quickly follows the theft of around $7.4 million dollars worth of Ether reported earlier this week.
Unspecified efforts are underway by Ethereum developers to secure the funds, Wood wrote in a chatroom on Wednesday following the theft’s disclosure. The vulnerability is found in Parity Wallet, software described as “the fastest and most secure way of interacting with the Ethereum network.”
The problem specifically impacts multi-signature wallets created in Parity meant to require electronic signatures from multiple parties in order to move money. Normal wallets are not at risk, according to developers.
An updated version of the software fixing the vulnerabilities will be released as soon as possible, according to Wood.
Hackers have stolen $32 million worth of Ether, a popular and increasingly valuable cryptocurrency, by exploiting a critical security vulnerability in wallet software that allowed an attacker to steal over 153,000 Ether.
The theft is visible on Ether’s blockchain here, according to Gavin Wood, a co-founder of Ethereum, the software behind the currency.
The attack began late on Tuesday and continued on Wednesday in a total of three transactions.
When the attack was finally noticed, a group of white hat hackers used the same exploit to drain money from other vulnerable wallets in order to protect them from the theft. The money saved totaled 377,000 ETH worth over $75 million.
“The white hat group were made aware of a vulnerability in a specific version of a commonly used multisig contract,” the group wrote. “This vulnerability was trivial to execute, so they took the necessary action to drain every vulnerable multisig they could find as quickly as possible.”
The ethical hackers promised to return the funds to their rightful owners once the security threat passed.
The cryptocurrency appears to have been stolen from the online gambling website Edgeless Casino, the smart-contract platform Aeternity and the commerce platform Swarm City, according to a blog post from Swarm City.
Today’s incident quickly follows the theft of around $7.4 million dollars worth of Ether reported earlier this week.
Unspecified efforts are underway by Ethereum developers to secure the funds, Wood wrote in a chatroom on Wednesday following the theft’s disclosure. The vulnerability is found in Parity Wallet, software described as “the fastest and most secure way of interacting with the Ethereum network.”
The problem specifically impacts multi-signature wallets created in Parity meant to require electronic signatures from multiple parties in order to move money. Normal wallets are not at risk, according to developers.
An updated version of the software fixing the vulnerabilities will be released as soon as possible, according to Wood.
ren hoek
Footballguy
ren hoek
Footballguy
So the Bitcoin blockchain is set to change around August 1st. There's going to be a fork (or change in how the blockchain operates) forthcoming. The question is whether they will update the software on the old blockchain or or setup an entirely new one altogether.
https://support.coinbase.com/customer/portal/articles/2844217-uahf-uasf-faq
$2,757.00
BITCOIN PRICE
https://support.coinbase.com/customer/portal/articles/2844217-uahf-uasf-faq
I'm not real clear on what it means going forward. Probably just gonna keep holdin as per usual, but this is likely as good a time as ever to get in if you've been on the fence.
$2,757.00
BITCOIN PRICE
E-Z Glider
Footballguy
I dont pretend to understand any of this, but we just sold our bitcoin. We purchased it a couple years ago for like $200 when we thought we were going to need it to pay ransomware. Just cashed it in for $2400. Seems pretty ridiculous to me. 
ren hoek
Footballguy
There's generally a bottoming out in price during periods of uncertainty. It dropped to 950 during the scaling debate. I don't understand the particulars of the blockchain fork but I figure there'll be a big drop from 2700.
I don't think it's done going up yet though. Long term it'll probably hit its apex once it reaches the 21 million unit cap. Projections have that occurring around 2032. There's also the doomsday scenario that quantum computing will break bitcoin's underlying protocol and encryption. So who knows what will happen
So if you figure there will be a big drop from 2700, why would now be as good of a time as any to get in? Did you mean get out in your OP?There's generally a bottoming out in price during periods of uncertainty. It dropped to 950 during the scaling debate. I don't understand the particulars of the blockchain fork but I figure there'll be a big drop from 2700.
I don't think it's done going up yet though. Long term it'll probably hit its apex once it reaches the 21 million unit cap. Projections have that occurring around 2032. There's also the doomsday scenario that quantum computing will break bitcoin's underlying protocol and encryption. So who knows what will happen
ren hoek
Footballguy
I meant around the 1st when the forks are supposedly incoming. That's when I'm guessing there is a drop in price. Conversely 2700 is probably a good time to sell in the short term. Historically speaking 2,700 is almost as high as it's ever been, twice the amount of an ounce of gold I believe.
No one knows for sure what will happen but it seems reasonable to expect big changes around Aug 1
Peyton Marino
Footballguy
so should I sell before the end of the month and get back in after the dip?
LAUNCH
Footballguy
A soft fork is a change to the software protocol where only previously valid blocks/transactions are made invalid. Since old nodes will recognize the new blocks as valid, a soft fork is backward-compatible.
A hard fork is a radical change to the protocol that makes previously invalid blocks/transactions valid, or vice-versa, and as such requires all nodes or users to upgrade to the latest version of the protocol software. A hard fork is a permanent divergence from the previous version of the Blockchain, and the newest version will no longer accept nodes running on previous versions.
How will the implementation of UASF or UAHF change Bitcoin?
There is an enormous number of possible scenarios.
If one of these plans is accepted, the next developments depend on the actions of users and miners. According to the proportion of the categories given above, the main possible scenarios are:
Most users and miners accept the plan. This situation is good, there is no fork, and there is only one branch.
Most users accept the plan; miners do nothing. If the number of users is rather large (more than 51 percent), then there will be one branch. If the number of users is less than 51 percent, then there will be two branches, Users fork and Miners fork. If the number of users grows and achieves more than 51 percent, blocks in the Miners fork will be substituted with blocks in the Users one. Miners are wiped out.
Users and miners cannot reach arrangement. In this case, the larger group can make an attack to the smaller one. The transactions made in the smaller group are dangerous since they can be wiped out.
These scenarios have different consequences, i.e., the smaller group can defend and make some changes in protocols and algorithms.
http://www.bitsonline.com/viabtc-bitcoin-cash-token-uahf/
The UAHF proposal is now officially called Bitcoin ABC. Introduced by a group including the worlds largest mining company Bitmain, its aim is to prevent the user-activated soft fork (UASF) proposal from taking hold on 1st August.
BitcoinABC logoAs of now, the three main proposals vying for support are: the New York Agreement (SegWit2x), UASF (BIP148 SegWit), and Bitcoin ABC. Each either promises, or carries the potential, to fork Bitcoin into two or more active blockchains.
ViaBTC officially supports the New York Agreement. This implements SegWit immediately on 1st August (if enough nodes support it) and includes a built-in hard fork further down the road. Therefore, ViaBTC would consider any chain running Bitcoin ABC to not be true Bitcoin.
However the tokens on such a blockchain may still have value, so ViaBTCs clients would like to have some. To do this, The company will launch a BCC mining pool and lock the activation time at 08:00 UTC on 1st August 2017.
Miners who choose that option will still be mining BTC right up to that point, and then switch.
At press time, ViaBTC is the worlds eighth largest bitcoin mining pool with around 5.9 percent of the total hashrate. It also has litecoin pools.
So it looks like August 1st in the go live date for both of these. I don't own any, but my guess would be that selling now would be a good idea. It seems like there is going to be a war going on.
https://blog.gdax.com/uahf-a703b6a13115
Should UAHF activate on August 1, GDAX will not support the new blockchain or its associated coin. Customers that desire access to UAHF coins should withdraw their bitcoin from GDAX by July 31
A hard fork is a radical change to the protocol that makes previously invalid blocks/transactions valid, or vice-versa, and as such requires all nodes or users to upgrade to the latest version of the protocol software. A hard fork is a permanent divergence from the previous version of the Blockchain, and the newest version will no longer accept nodes running on previous versions.
How will the implementation of UASF or UAHF change Bitcoin?
There is an enormous number of possible scenarios.
If one of these plans is accepted, the next developments depend on the actions of users and miners. According to the proportion of the categories given above, the main possible scenarios are:
Most users and miners accept the plan. This situation is good, there is no fork, and there is only one branch.
Most users accept the plan; miners do nothing. If the number of users is rather large (more than 51 percent), then there will be one branch. If the number of users is less than 51 percent, then there will be two branches, Users fork and Miners fork. If the number of users grows and achieves more than 51 percent, blocks in the Miners fork will be substituted with blocks in the Users one. Miners are wiped out.
Users and miners cannot reach arrangement. In this case, the larger group can make an attack to the smaller one. The transactions made in the smaller group are dangerous since they can be wiped out.
These scenarios have different consequences, i.e., the smaller group can defend and make some changes in protocols and algorithms.
http://www.bitsonline.com/viabtc-bitcoin-cash-token-uahf/
The UAHF proposal is now officially called Bitcoin ABC. Introduced by a group including the worlds largest mining company Bitmain, its aim is to prevent the user-activated soft fork (UASF) proposal from taking hold on 1st August.
BitcoinABC logoAs of now, the three main proposals vying for support are: the New York Agreement (SegWit2x), UASF (BIP148 SegWit), and Bitcoin ABC. Each either promises, or carries the potential, to fork Bitcoin into two or more active blockchains.
ViaBTC officially supports the New York Agreement. This implements SegWit immediately on 1st August (if enough nodes support it) and includes a built-in hard fork further down the road. Therefore, ViaBTC would consider any chain running Bitcoin ABC to not be true Bitcoin.
However the tokens on such a blockchain may still have value, so ViaBTCs clients would like to have some. To do this, The company will launch a BCC mining pool and lock the activation time at 08:00 UTC on 1st August 2017.
Miners who choose that option will still be mining BTC right up to that point, and then switch.
At press time, ViaBTC is the worlds eighth largest bitcoin mining pool with around 5.9 percent of the total hashrate. It also has litecoin pools.
So it looks like August 1st in the go live date for both of these. I don't own any, but my guess would be that selling now would be a good idea. It seems like there is going to be a war going on.
https://blog.gdax.com/uahf-a703b6a13115
Should UAHF activate on August 1, GDAX will not support the new blockchain or its associated coin. Customers that desire access to UAHF coins should withdraw their bitcoin from GDAX by July 31
ren hoek
Footballguy
Think I'm gonna pull the trigger when I get home. Hopefully it doesn't fall 1400 dollars
ILUVBEER99
Footballguy
I don't see if falling drastically. The huge dip already happened late last week and it rebounded already. Now that the fork stuff seems to be getting resolved in a positive way just don't see another major dip in the short term.
ren hoek
Footballguy
ILUVBEER99
Footballguy
ren hoek
Footballguy
I plan on putting it all back in, but probably 60/20/20 Btc/Eth/Litecoin. If/when it falls below 2000 I'll buy back in
hbu @ILUVBEER99 ?
Last edited by a moderator:
ILUVBEER99
Footballguy
I haven't sold any, added more when it went under 2,000 last week. Also moved all my LTC into BTC last week as well.ren hoek said:
I'm basically holding for next 5 years and letting the chips fall where they may.
Nathan R. Jessep
Footballguy
ragincajun
Footballguy
.
ILUVBEER99
Footballguy
The split BCC coin is showing a value of $400 or so. Hard to know its actual value at this point since it's not really trading anywhere yet.
with BTC at $2,750 and BCC around $400 the combined value is over 3k. Not bad, not bad at all.
with BTC at $2,750 and BCC around $400 the combined value is over 3k. Not bad, not bad at all.
ren hoek
Footballguy
ILUVBEER99
Footballguy
Yes. for example if you had 10 BTC before the split you will get an additional 10 BCC coins.
ren hoek
Footballguy
ILUVBEER99
Footballguy
not yet. i don't think they are trading yet. Some exchanges are allowing futures trading on BCC though.
Coinbase doesn't have plans to support the BCC coin.
Dan Lambskin
Footballguy
So if I had BTC sitting in coinbase and a 3rd party wallet like blockchain does that mean no free BCC for me? Only if I had BTC on some other exchange?
ILUVBEER99
Footballguy
BTC on coinbase won't be given the BCC coins. It's kind of shady, but they announced their decision a week ago.
I think if you had BTC in blockchain wallet you will get the BCC coins.
ren hoek
Footballguy
I was looking on Cryptopia and they exchange quite a number of coins, though I'm not sure what their draw is on trading.
Don't sleep on Tittiecoin.
https://www.cryptopia.co.nz/Exchange?market=TTC_BTC
Don't sleep on Tittiecoin.
https://www.cryptopia.co.nz/Exchange?market=TTC_BTC
ILUVBEER99
Footballguy
Also, i'd wait to claim the BCC coins until things settle down. A lot of people are trying to get things done right away and making mistakes.
In a couple days things will be more stable and better info will be out on how to claim them.
In a couple days things will be more stable and better info will be out on how to claim them.
Peyton Marino
Footballguy
Man I have no idea what is going on at this point
Osaurus
Footballguy
ren hoek
Footballguy
You fooled with mining at all? I'm thinking about just using part of the withdrawal for a 6-card mining computer setup and putting the rest back in. I really don't know of a good direction to take it from here
ILUVBEER99
Footballguy
from what i've read i don't think mining is profitable anymore for individuals in the USA. Almost all the big miners are in China with cheap electricity.
ren hoek
Footballguy
Yeah, you're probably right. This thread makes a little more sense out of it for me too.
Probably just say eff it and get a nice graphics card for video games and then put the remainder into alt.
Dan Lambskin
Footballguy
So I'm pretty sure I missed out on getting free BCC by having my coins on blockchain and not some other wallet or exchange but if there is some way to do it still somebody let me know how
@hooter311 ?
@hooter311 ?
Nathan R. Jessep
Footballguy
anyone picked up BCC futures? if so, what exchange? I've only used coinbase to this point, to make some mini-transactions, so not sure what other reliable exchanges are out there.ILUVBEER99 said:
Dan Lambskin
Footballguy
ren hoek
Footballguy
lumpy19
Footballguy
ILUVBEER99
Footballguy
https://coinmarketcap.com/currencies/bitcoin-cash/#markets
Those are the exchanges it is currently trading on. Bittrex and Kraken are the most well known of them. Unfortunately, none are accepting external deposits of BCC tokens yet.
