Bitcoin Price Tracking & Discussion -- 2017

[MeanPeopleSuck]

I dont know but reading some opinions explain it this way, Its going up last couple weeks, and days, its not up much but up some last days. Investors need to be on BITCOIN and own them to get this new coin in the chance that is a free 15-25% bonus or so at least for awhile. any who knows maybe the new coin turns really good. At least compared to other positive options anyway so its holding up for now. but right after the FORK that will be intersting.

I agree w/ ttt's reasoning entirely. Of course, crypto's impossible to guess, but since we all do anyway, here's mine: BTC goes up tonight and tomorrow AM, before the fork, as speculators and BCC believers buy more, to get more BCC tokens (bear in mind, ETC, which hard forked from ETH a year ago, is up 2300% since then).

But after the 7:20am est / 8:20am est fork -- FFS, can we at least pin down the EXACT time? -- I expect a selloff, in both BTC and, probably also, BCC, priced right now at about $300: https://www.viabtc.com/quot/realtime...c&chart=simple

My own current thinking -- absolutely subject to change if people smarter than me tell me it sucks -- is to sell my BTC the minute after the photo, possibly even going short, and keeping a close eye on the BCC market, as a potential buyer.

There's two good reasons to think BCC might crash: 1. squares who don't know and don't want to know anything about BCC will probably just sell. 2. The exchanges and sportsbooks who are keeping their clients' BCC, might just want to dump it and monetize their windfall.


But it's crypto, so everything's a crapshoot!

PS: trytrytry, are you at Bitfinex right now? If y, pm me.

[RoyBacon]

Why would BTC's price go up after the fork? I agree with you there might be speculation tonight and tomorrow morning (I've got sell orders in at 2990 and 3180), but it's my intention to sell my BTC immediately after the BCC photo's taken, as I expect BTC to be down on Tuesday:


1. BCC's value will no longer be a part of BTC, and


2. I'm thinking all the people currently buying more BTC than they usually hold just to get BCC tokens will probably immediately sell their "excess" BTC after the photo's taken.

But on crypto I've been wrong a zillion times, so I always keep an open mind on everything. What's your thinking that BTC may rise Tuesday?

Appreciate your perspective. Strong posts.

Many places and I assume many commercial users, investors are not even bothering with the BCC. Coinbase users along with Bitstamp and many wallets are not getting them unless I got this wrong.

But I can see the reasoning behind the price dropping after the photo. One very big logistical problem then is when do we actually have the BCC so we can lighten up on BTC?? I'm in Bitfinex. Not really into watching the price drop $200 to get a BCC coin that might be worth $150?

[trytrytry]

dramatic spike up BTC going on past 2 hours.

at least one exchange has granted cusotmer the BTC new coins and exchange is alive and well

anyone use this youbit site?

https://yobit.net/en/trade/BCC/BTC

[Optional]

Appreciate your perspective. Strong posts.

Many places and I assume many commercial users, investors are not even bothering with the BCC. Coinbase users along with Bitstamp and many wallets are not getting them unless I got this wrong.

But I can see the reasoning behind the price dropping after the photo. One very big logistical problem then is when do we actually have the BCC so we can lighten up on BTC?? I'm in Bitfinex. Not really into watching the price drop $200 to get a BCC coin that might be worth $150?

A big reason BTC may drop after the fork relates to the BitcoinABC miners attacking the BTC side of the chain with replay exploits to sabotage the original chain.

Personally I'd like to see everyone dump BCC as fast as possible and the backers of the group lose as much money as possible as quick as possible.

But the main people pushing this already know that, and will dump to take profit whilst they can too I suspect now.

[MeanPeopleSuck]

Appreciate your perspective. Strong posts.

Many places and I assume many commercial users, investors are not even bothering with the BCC. Coinbase users along with Bitstamp and many wallets are not getting them unless I got this wrong.

But I can see the reasoning behind the price dropping after the photo. One very big logistical problem then is when do we actually have the BCC so we can lighten up on BTC?? I'm in Bitfinex. Not really into watching the price drop $200 to get a BCC coin that might be worth $150?

Good points. And, believe me, it's not like Coinbase/GDAX, Bitstamp, and every BTC-only sportsbook won't be CLAIMING their BCC; it's just that they're going to keep it for themselves, rather than pass it along to their clients.

And I can even understand that, although I disagree with it. I mean, take Nitro as an example. How many BTC do you figure they've got on deposit? I dk, but it seems reasonable to me to guesstimate it's between 1,000 and 10,000. So if BCC really does turn out to be worth $300, as the current futures markets are predicting, that means the Nitro ownership group is about to be handed a briefcase with between $300,000 and $3,000,000, with no legal obligation to pass it on to anyone.

What would you do? I'd like to think I'd still do the right thing, but I can definitely see the temptation in stashing that briefcase away and then asking, "briefcase? what briefcase?"

[Sam Odom]

I fought with them for a year and a half, back when our movement was called Bitcoin Unlimited.

Running on Server right now

[MeanPeopleSuck]

dramatic spike up BTC going on past 2 hours.

at least one exchange has granted cusotmer the BTC new coins and exchange is alive and well

anyone use this youbit site?

https://yobit.net/en/trade/BCC/BTC

Yobit has a poor reputation in Bitcoin circles. I don't use them, so I can't speak to the complaints directly, but definitely do some due diligence on them before you send them any cash.

[MeanPeopleSuck]

Running on Server right now

Hey, Alright! It's nostalgia day!

The truth is, I guess a leopard really can't change its spots because no matter where my money is, my heart can't help but root for BCC to succeed.

[senseionline]

going for all nigher everyone is waiting for hard fork to be over Every coin is point sharply upward before main event

[ChuckyTheGoat]

Dumb question:

* Is anyone making serious $$ just by speculating on Bitcoin price?

...Would be very cool to wake up tomorrow and see that Bitcoin sky-rocketed overnite.

[RoyBacon]

Good points. And, believe me, it's not like Coinbase/GDAX, Bitstamp, and every BTC-only sportsbook won't be CLAIMING their BCC; it's just that they're going to keep it for themselves, rather than pass it along to their clients.

And I can even understand that, although I disagree with it. I mean, take Nitro as an example. How many BTC do you figure they've got on deposit? I dk, but it seems reasonable to me to guesstimate it's between 1,000 and 10,000. So if BCC really does turn out to be worth $300, as the current futures markets are predicting, that means the Nitro ownership group is about to be handed a briefcase with between $300,000 and $3,000,000, with no legal obligation to pass it on to anyone.

What would you do? I'd like to think I'd still do the right thing, but I can definitely see the temptation in stashing that briefcase away and then asking, "briefcase? what briefcase?"

Sounds like borderline fraud to me except they have made public statements saying BTC will not receive BCC.

The fraud element aside it's a terrible business decission. I moved a lot of BTC out of GDAX and Bitstamp to Bitfinex.

Also, Bitfinex seems to not be shorting BCC to BTC shorts. Here is from their announcement;
"Margin shorts in BTC/USD and margin longs in XXX/BTC will not pay BCH"
Unfortunately they don't allow US guys to short BTC but this is a strange rule. It's like being short a stock and not having to pay the dividend. Unless I'm missing something?

[raiders72001]

going for all nigher everyone is waiting for hard fork to be over Every coin is point sharply upward before main event

I may be up all night too.

[MeanPeopleSuck]

Sounds like borderline fraud to me except they have made public statements saying BTC will not receive BCC.

The fraud element aside it's a terrible business decission. I moved a lot of BTC out of GDAX and Bitstamp to Bitfinex.

Also, Bitfinex seems to not be shorting BCC to BTC shorts. Here is from their announcement;
"Margin shorts in BTC/USD and margin longs in XXX/BTC will not pay BCH"
Unfortunately they don't allow US guys to short BTC but this is a strange rule. It's like being short a stock and not having to pay the dividend. Unless I'm missing something?

Heh, heh, heh, you're very sharp eyed to notice that, Roy. Raiders and I have already discussed this by pm, but yes, you can multiply your BCC by up to 2.5 times, if you just take equal short positions in your margin wallet to your long positions in your exchange wallet.

I didn't know that about US residents. I was raised on the illegal internet -- first torrent sites, then some dark net stuff -- so for me, heading online without at least one VPN on makes me feel naked and exposed -- I never do it. Actually, SBR kept banning me when I first signed up due to my anonymizers. Pain in the butt, really.

But y, Bitfinex is totally privacy minded. They don't give a rat's a$$ if you're actually in the US or not, you just have to tell them you're not. I'm not even positive you need a VPN for that, but if you do, these guys are great, easy to install, and only cost $40 a year: https://www.privateinternetaccess.com/

[MeanPeopleSuck]

I may be up all night too.

Ditto, for sure. I just checked in and about half the associates in the firm are marked as "working from home" tomorrow.

[MeanPeopleSuck]

I'm told Bitfinex has disabled the trick from earlier by disallowing transfers of cash from the Margin Wallet to the Exchange Wallet (heh, well, a little late in my case, boys), but anyone at Bitfinex can still use this trick to their advantage by taking out a short position equal to their currently held long position in BTC.

What will that do? It's like selling your BTC at the current price level, but still getting your BCC.

[Sam Odom]

will be monitoring next 24 hrs

may not sleep

[MeanPeopleSuck]

Heh, the slimewads at Polo just changed their TOS at MIDNIGHT to make it clear they can hose their clients out of BCC. New Section 16:

"Poloniex may, in its sole discretion, (a) configure or reconfigure its systems or (b) decide not to support (or cease supporting) the Forked network entirely, provided, however, that you will have an opportunity to withdraw Tokens on at least one of still existant underlying networks. You acknowledge and agree that Poloniex assumes absolutely no responsibility whatsoever in respect of any underlying software protocols, whether Forked or not."

[Sam Odom]

Many are looking to exploit (fuk clients) the situation for personal gain

[Sam Odom]

FWIW from coindesk


Aug 1, 2017

...the success of Bitcoin Cash hinges on how much support it gets from users, businesses and miners. And, so far, it might not have much.

While it certainly has passionate supporters who disagree with bitcoin's technical direction, Bitcoin Cash is trading at about one-tenth of bitcoin's price on an available futures market.

And, so far, out of more than 20 mining pools, only one, ViaBTC, has said that it is giving miners that are a part of the pool the option of pointing their computing power toward the securing the cryptocurrency.

[MeanPeopleSuck]

Many are looking to exploit (fuk clients) the situation for personal gain

Hey, Sam, my man, good to see ya burning the midnight oil. What do you make of the selloff the last couple hours?

That's definitely not what I expected, but Bitcoin makes fools of us all, I guess...

[Sam Odom]

What do you make of the selloff the last couple hours?

Hard to say... could be the fork or could be bitcoin being bitcoin

[Sam Odom]

Coinbase in hot water ?


Snubbing Bitcoin Cash Against Common Law May Lead to Legal Troubles for Coinbase

[MeanPeopleSuck]

FWIW from coindesk


Aug 1, 2017

...the success of Bitcoin Cash hinges on how much support it gets from users, businesses and miners. And, so far, it might not have much.

While it certainly has passionate supporters who disagree with bitcoin's technical direction, Bitcoin Cash is trading at about one-tenth of bitcoin's price on an available futures market.

And, so far, out of more than 20 mining pools, only one, ViaBTC, has said that it is giving miners that are a part of the pool the option of pointing their computing power toward the securing the cryptocurrency.

True, but everyone knows Bitmain, who runs Antpool, has never liked SegWit, and just a couple months ago threatened a hard fork of its own in response to the User Activated Soft Fork idea that was eventually shelved: https://www.coindesk.com/game-of-blu...issile-crisis/

Bitmain hasn't said where it stands on BCC yet, but it would make a gigantic difference if it were to dedicate even a portion of its hash rate to the new coin: https://blockchain.info/pools

Despite that, I expect the price of BCC to tank today. I definitely won't sell, but I may buy.

[MeanPeopleSuck]

Hey Sam, what's keeping you up tonight? I've just been using caffeine, but I'm fading hard.

I think it's time to whip out the hard stuff, maybe some adderall XR or phentermine.

[Sam Odom]

Hey Sam, what's keeping you up tonight? I've just been using caffeine, but I'm fading hard.

I think it's time to whip out the hard stuff, maybe some adderall XR or phentermine.

Took a nap... 9pm-11:30

[MeanPeopleSuck]

Took a nap... 9pm-11:30

Smart. I shoulda planned better. My butt is draggin'.

[JAKEPEAVY21]

Smart. I shoulda planned better. My butt is draggin'.

up early ready for the action

[MeanPeopleSuck]

up early ready for the action

Cool, cool, cool. Because bitcoin folks are always as confusing as humanly possible, the split won't occur until the 7th block mined past 8:20am EST, assuming that block's larger than 1 mb. We're only on the 2nd block, so it could be a while.

BTC's price shockingly stable, so far.

[MeanPeopleSuck]

We still haven't split yet, but what odds would you have given that between 8:15am and 9am today BTC's price would be flat?!?

[trytrytry]

We still haven't split yet, but what odds would you have given that between 8:15am and 9am today BTC's price would be flat?!?

hmm that exchange bittrex just added a line of BCC and gave the equivalent amount as BTC

but you cant trade them at all. Perhaps they are just getting ready.

[trytrytry]

dont know but ETH and ALL other ALt coins are up lots some 10 - 20% last two hours !! ETH up 18% last 2 hours am I seeing that right . what does that mean

[trytrytry]

dont know but ETH and ALL other ALt coins are up lots some 10 - 20% last two hours !! ETH up 18% last 2 hours am I seeing that right . what does that mean

I think the chart im looking at is the increase versus BITCOINS past two hours. not the actual ETC hard price. BTC down some ETH up some makes it look large.

[trytrytry]

3 more blocks to go then the screen shot and official split.

live coverage on youtube. if you can put up with this host

https://www.youtube.com/watch?v=o6QJxMWngn4

[MeanPeopleSuck]

hmm that exchange bittrex just added a line of BCC and gave the equivalent amount as BTC

but you cant trade them at all. Perhaps they are just getting ready.

TTT, you are a f*cking genius. Not even Reddit knew Bittrex had credited BCC yet, so I was able to sell my BTC for 2830.

C'mere you three headed purple genius, you, gimme a damn hug!

[trytrytry]

2 More BLOCKS to gO!!