Quote: (10-31-2017 02:14 PM)jamaicabound Wrote:
Quote: (10-31-2017 01:39 PM)JayJuanGee Wrote:
Yes, each of these exchanges that you mention as listing BCG (Bitcoin Gold) are issuing fictional BCG upon the belief that BCG will become a real thing based on the terms that the BCG dev team has communicated, and include Bitfinex in that round up, too - that is of exchanges issuing fictional BCG....
I did not personally benefit from Bitfinex's issuance of BCG - because I withdrew all of my BTC from Bitfinex before the recognition fork, which was block 491407 on October 23.
Only exchanges seem to be able to get away with issuing fictional BCG, and some of them are just not going to do it.. and the hardware wallets are taking the same stance, as I posted above. They don't want to get into any kind of fictional issuance or BCG recognition situation that could either jeopardize the security of their platform or jeopardize their user's confidence in their platform.
Thanks for posting that, it's funny I never really thought into where this BTG was comming from, so the exchanges technically don't even have it they are basically fronting those buying and selling, that's interesting but makes sense. I know this idea is kind of controversial since most people are very against keeping money on exchanges but for Bitcoin Cash and even Gold looks like those who did faired better than the rest of us. I may empty out my Trezor onto a couple exchanges leading into segwit just to keep my options open and potentially be able to be an early seller.
I think that you are correct that there was some potential financial benefit in the some of the last forkenings in leaving some or even all of your BTC on exchanges - but I don't think that we can necessarily count on that, and we have to consider the risk, too.
Personally, I have already been in the habit of rolling the dice, somewhat, when it comes to my personal coins and my use of exchanges.
Currently, I have about 20% of my coins distributed on 4 exchanges (that is about 5% on each of the ones that I am using).
Personally, I am not so motivated by profit, even though there frequently can be ways to profit; however, I do feel that I am more actively involved in the bitcoin community, and I am able to grasp more of the dynamics when I am trying to spread out some of my BTC participation, which includes my ongoing useage of various exchanges, even during periods in which the legitimacy and/or solvency of the exchange(s) is(are) questioned.
Quote: (10-31-2017 02:14 PM)jamaicabound Wrote:
Quote: (10-31-2017 11:28 AM)jamaicabound Wrote:
You may want to consider taking less than a 100% stance on this situation, unless you really have something approaching that level of confidence.
As we already know, sometimes bitcoin gets pumped at unexpected times in order to shake weak hands, and there remains a non-trivial possibility that this segwit2x situation could be one of those times.
Quote: (10-31-2017 11:28 AM)jamaicabound Wrote:
Are you suggesting that price may actually fall after segwit? That's interesting I hadn't thought about it that way but makes sense. I guess either the uncertainty ends and we go up in value or maybe were sitting high now and we pull back to 5k or so.
You seem to be talking about a scenario that is possible, but is likely below 5% of actually having some kind of switch like what you are suggesting to be possible.
I get kind of confused by these forks. I don't really understand the politics behind them. With the first fork I was under the impression it was a Jihan BitcoinABC or Unlimited going up against Bitcoin Core and maybe my understanding of it is wrong but seemed like Bitcoin Cash totally came out of left field.
I think that you have the general idea, but I would frame these forkenings a little different.
A lot of these forks are coming from the same nutjob BIG blocker, destroy or undermine bitcoin, place.
Sure the specifics may evolve and even the subgroups might evolve, but several of the BIG blocker groups have similar supporters (that also grow and evolve over time), and even though they frequently frame the "brokenness" of bitcoin in terms of technical issues, such as scaling, one of their core objectives remains to change the ease which bitcoin can be changed to make bitcoin more moldable. The other aspect is to undermine bitcoin in some ways, which they perceive to be in their interest whether it is pumping other coins or pumping traditional fiat systems.
So, yeah, even though Bcash may have seemed somewhat spontaneous, it largely was an attempted faking out and playing around with the same kinds of goals - and some of the same folks, whether those folks were renegade subgroups or not, they are similarly hostile and without any meaningful agenda beyond disruption, undermining and maybe hoping to make a little money along the way. By the way, it seems fairly clear that Bcash was spontaneously conceived because their whole segwit2x (NYAgreement) did not seem to go as planned and instead resulted in the locking in and activation of segwit through a kind of creative BIP91 (which was contrary to their original goals to accomplish the opposite of what they wanted.. hahahaha.. what a fuck up!)
Quote: (10-31-2017 02:14 PM)jamaicabound Wrote:
With this current thing I hear people talk about a corporate takeover of Bitcoin, I'm assuming that's Segwit and not core? When you read reddit and stuff you hear segwit is 95% supported then the next day someone is saying its only 5% supported.
I am unclear about what nonsense you are reading, but sometimes there is mixing of discussion that is water under the bridge... so questioning of segwit when it already has been locked in, activated and in the process of implementation.. so who fucking cares how much support that it has because it is already in.
There is some other discussion regarding the extent to which segwit2x is supported and those are fucking misleading indicators because these folks (miners largely) are signaling segwit2x ---
here's a link to the signalling... currently at about 84% as I type
https://coin.dance/blocks
Anyhow, a lot of folks are arguing that the signaling of intent has some kind of meaning, when there is no actual software that is actually being run - or at least if there is some software being run, it is by a pretty small number of miners because time and time again, the programers of segwit2x and some of the other bigblocker software has resulted in unreliability and loss of money - mostly to miners - because of stupid-ass software fuck-ups.
Quote: (10-31-2017 02:14 PM)jamaicabound Wrote:
That stuff is way over my head but I'm concerned enough about this one with the little I know that to me on the offchance there is a flippening I'd rather hold both and see what happens than try to make a few bucks and potentially sell off the coin that doesn't maintain the highest value.
Sure there is nothing wrong with hedging to some extent. If the fork actually occurs, then you are going to have coins on both chains, so there may not be a need to rush a decision, and you actually might not want to rush a decision if it is unclear about whether replay protection is there - and there are not other tricks in the software or the claiming and/or transferring of coins processes.
Quote: (10-31-2017 02:14 PM)jamaicabound Wrote:
So is your thinking this Segwit2X will be a flop? Do you think it will die or do you think they will cave and employ replay protection to at least keep an altcoin alive
I doubt that it is going to be a complete flop, and it is possible that it could be a greater threat than bcash ended up being... I do think that the odds are against segwit2x being successful and flippening... but I am doubting that there is going to be a need to take any rash actions because sometimes the market could move contrary to expectations in either direction.
At this point, I do not plan to take any drastic measures that depart from they system that I already employ... which is buying on the way down and selling on the way up.. but there could be some exchange disruptions and there could also be some period of time that it would not be safe to perform blockchain transactions, either. We have a bit more than two weeks before this forkening of segwit2x actually occurs - oh, and by the way, there is likely going to be a forkening of Bcash a couple days before the segwit2x fork... just to make matters a bit more confusing.