submitted by /u/MemoryDealers
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source https://www.reddit.com/r/btc/comments/fmbk6b/millions_of_dollars_worth_of_bitcoin_cash_has/
Saturday, 21 March 2020
I won't be able to do much [adding AVA on BCH] directly for the foreseeable future. If BCH gets serious about building out an Avalanche layer I think there could be a lot of opportunity for collaboration, but don't have high hopes. It's just been ABC and I working on it and I dont see that changing.
I bought $5,000 of bitcoin call options right before the Coronavirus outbreak in North America? Expiry Date is mid September, with a $20,000 target.
Was this a good move and is it still possible to reap the rewards?
Please let me know what you all think. (P.S. I have barely any investing experience and so this Coronavirus outbreak was a horrible first time experience for me)
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source https://www.reddit.com/r/btc/comments/fmasuk/i_bought_5000_of_bitcoin_call_options_right/
Energy Value of Bitcoin.
Some have been unsuccessful in determining if Bitcoin's price trails or leads hash power.
I actually cant believe its even being debated. Obviously there are outlying events or catalysts that will ALWAYS break a model, such as now, a market recession where many move to liquidate risky assets. E.g. Bitcoin.
Attached is the best current price discovery model for bitcoin. https://medium.com/capriole/bitcoin-value-energy-equivalence-6d00d1baa34a .
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source https://www.reddit.com/r/btc/comments/fm8sm2/energy_value_of_bitcoin/
Stock Buybacks implications for bitcoin
Lots of talk that government will restrict stock buybacks in the Coronavirus bailout bills. Just to briefly review, companies use their profits to buy back their own stock to reduce the number of shares outstanding. This results in their earnings going up without actually growing their profits. I call this the scam of the stock market.
This practice has greatly contributed to a rising stock market. Imagine this practice ending! The result would be a stock market that doesn’t rise as it has in the past. Companies who could actually grow their earnings would do fine but this is not most companies. This would further result in the stock market not making new highs for decades. Think Japan millennials! And forget a quick stock market bounce back.
Bitcoin’s big drop recently was because big players wanted to raise cash quickly. Bitcoin helped with this because it trades 24/7. Not closed on weekends. No emergency trading halts.
All the talk about bitcoin not being a safe haven is nonsense. In fact, bitcoin has risen 70% from its recent low. I think this will continue and bitcoin should pass its all time high probably this year. That’s not the case with the stock market. Consider the case of bitcoin hitting an all-time high and the stock market still way down. How do we say FOMO?
Even the Fed with their trillion dollar injections is not going to be able to save the stock market. Negative interest rates are just around the corner. This is another great thing for bitcoin.
All of these issues will help bitcoin as the only pure currency.
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Matthew Green on Twitter: I’m “old enough to remember when cypherpunks dreamed about usable worldwide electronic cash, and not the speculation price of USD/BTC” years old.
The time has come.
The first message Satoshi Nakamoto included included in the first Bitcoin block read “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.“ throughout the previous recession. Bitcoin was born out of a recession. It was created to become the “other” option during times like the one we are currently in.
The U.S. government is literally about to give dollars away to people, which in itself, is an act that devalues your currency. The more money is made readily available, the less value it may hold. The government has announced programs for printing incredible quantities of money and will likely be bailing out company after company in the near future. QE is not a joke. Inflation is not a joke.
Bitcoin has gone through many tests since its inception in 2009. But, this is the first time it will exist throughout an economical crisis, the type of event it was born to persist through. Unintended economical consequences are to be expected from these acts that the government is currently committing, all of which will present themselves throughout the next few years.
This is where the tough question comes to all of you, do you expect the US dollar to retain its purchasing power throughout the next few years compared to Bitcoin? I know I certainly do not and neither did the people of Venezuela throughout their inflationary crisis. It is important to remember that as more and more US dollars are created, Bitcoin becomes less and less available, especially after the halving that will occur in the near future.
I was recently temporarily laid off and made my first contribution to BTC in a very long time because all of what is currently occurring is exactly why BTC was created.
There is a lot to think about.
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Just because both bitcoin and the stock market crashed during a global pandemic that does not mean they are suddenly correlated.
Bitcoin is a non-correlating asset. It is NOT a negative correlating asset.
Negative correlation to the stock market would mean bitcoin goes up when the stock market goes down. That is not the case for bitcoin and the stock market, for the most part they make moves independently but sometimes have correlation during a major events like a global pandemic. In this case a global event has caused almost ALL markets to crash. The only safe havens would be negative correlating assets of which bitcoin is not.
More on non-correlating assets: https://www.thebalance.com/what-is-asset-correlation-2894312
Overall bitcoin fundamentals have not changed. Once the panic is over expect the fundamentals to be a driving factor of price. See this fundamental report on bitcoin: https://cryptoeq.io/coreReports/bitcoin-abridged
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Friday, 20 March 2020
Bitcoin Cash Node (BCHN) gathering feedback from all Bitcoin Cash users
It's never been easier to complete the survey we are running until end of March!
If you do not have a Gitlab account:
Grab a copy of the survey text file:
Copy the text into Notepad or some other text editor of your choice, edit in your responses, and paste it into the text box of one of these services
Save the text you entered, and copy the resulting "saved file" URL into a comment in this thread.
If you have a Gitlab account:
Simply go to
If you don't have a Gitlab account yet, consider signing up for one, it's free and quick to do, and you will be able to use it to submit any sort of issues to the BCHN project in future (bug reports, improvement suggestions, even your own code or documentation fixes).
I will collect the well formed feedback and the BCHN project will process it.
Thank you in advance!
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source https://www.reddit.com/r/btc/comments/fls630/bitcoin_cash_node_bchn_gathering_feedback_from/
My transactions took an average of 20 minutes on the BCH network
As the title says, if we want mass adoption we need this to be faster. It’s easier for me to fund my account using PayPal which takes seconds (but reveals my identity) than BCH which takes roughly around 20 minutes.
I’m a crypto supporter and I am willing to wait 20 minutes, but I have to say many people will not.
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source https://www.reddit.com/r/btc/comments/flrs35/my_transactions_took_an_average_of_20_minutes_on/
Todays bitcoin price gains.
- If you are smart, you will not say stuff like "bitcoin IS proving itself as a store of value" or "bitcoin IS winning against the stock market" until at least one year from now, where we can review the data.
- If you are dumb and can't see further than 1 day, you WILL post shit like that.
my 2 satoshis.
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Former Bakkt CEO Kelly Loeffler dumps millions in stock after learning about Coronavirus threat
https://www.huffpost.com/entry/stock-sales-gop-senators-coronavirus_n_5e741524c5b63c3b648d8374
Kelly Loeffler, former Bakkt CEO and wife of Jeffery Sprecher (CEO of ICE, owner of Wall St stock exchange) sold millions worth of stock after receiving a Senate report on COVID-19, in a blatant demonstration of insider trading on confidential information.
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source https://www.reddit.com/r/btc/comments/flqsm5/former_bakkt_ceo_kelly_loeffler_dumps_millions_in/
⚡️FLASH SALE⚡️to All Bitcoin Mining Contracts is on Now!
Dear Valued Users,
Since last week's catastrophic 50% correction, #Bitcoin price has recovered by 40% off its low at $3,775. We would like to offer FLASH SALE on all BTC mining contracts, seize the opportunity before BTC price surging.
S17 now at USD1299, U.P. USD1699, get 10 Lucky coins FREE
S15 now at USD399, U.P. USD699, get 2TH S15 FREE
BTC55W now at USD19.99, U.P. USD26.99, buy 10 get 10 Lucky coins FREE
MOREOVER, you will get BTC55W hashrate in 3 days. Act up and grab yours now by visiting www.hashnest.com
[link] [comments]
source https://www.reddit.com/r/btc/comments/flqubv/flash_saleto_all_bitcoin_mining_contracts_is_on/
"BTC proponents like to say "hurr durr the average TX value on BTC is so much higher than BCH" as though this is a good thing. Really it's a testament to how useless BTC is for small, casual transactions."
Will the world suddenly realize fiat is a shitcoin?
With all the brrrr money machine, some people could start buying crypto...and then that would draw even more attention to crypto. Virtuous cycle. hmmm
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source https://www.reddit.com/r/btc/comments/flojzp/will_the_world_suddenly_realize_fiat_is_a_shitcoin/
A pound of feathers and a pound of bricks weigh the exact same, but $1 of BTC and $1 of BCH are not worth the same.
I've been hosting some pretty popular freeroll BCH tournaments on https://blockchain.poker this week. Yesterday, the winner of the tournament asked about trading his "useless" BCH winnings for BTC. I posted this comment explaining why it makes absolutely no sense to use BTC for a tournament:
Someone asked in the site chat if they could "flip these useless BCH sats for bitcoin" (of course you can), but I'd like to explain with some simple math why BCH is ideal for running these tournaments.
The median fee to send a BCH transaction is $0.0005, while the median fee to send a BTC transaction is $0.74, according to https://bitcoinfees.cash. The evening tournament had 217 players and paid out the top 59 finishers. Of these 59 people ITM, only the top 16 paid out more than $0.74. If I was running the same tournament with BTC, that means that 33 people who were ITM and had "winnings" would have nothing at all, as the fee to send the BTC off-site would be greater than the total amount won.
It's actually worse than that, though. Suppose I finished in 7th place and won $1.50. I withdraw the BTC to my own wallet and the site has to pay a $0.74 fee to send it to me, so I'm only getting paid $0.76. BUT I STILL HAVE NO MONEY. Because I'll have to pay another $0.74 fee to send that BTC anywhere, I effectively only have $0.02 of spending power, and no one will accept 2 cents of BTC because they will be facing the same conundrum.
Maybe you're a whale and a $0.74 fee doesn't mean anything to you, but most people aren't depositing $1000 at a time to poker sites for that fee to be negligible. And even if you are a whale, it's still -EV to pay a $0.74 fee when you could pay a $0.0005 fee for the exact same service.
If anyone is interested, these tournaments have been pretty popular with the /r/poker community, averaging around 190 players in each one (and the tournaments have been password protected). I think blockchain.poker has seen hundreds of new users this week as a result. Unfortunately I can't afford to keep paying 0.25 BCH per day out of pocket to keep them going, but as long as casinos are closed and everyone is quarantined at home, I would like to keep them going, so I'm looking for sponsors for these tournaments. If you're a business and would like to sponsor, your logo will be displayed on the table felt to 200 users for ~2 hours straight, and the link of your choosing will be listed on both the tournament information page and on the dialogue that pops up when a player busts out of the tournament. DM me if you're interested.
If you want to help keep these tournaments going but don't care about promoting a specific logo/link, all chaintips/tippr tips sent to me in this thread will be used for funding more freeroll tournament prize pools.
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source https://www.reddit.com/r/btc/comments/flnz01/a_pound_of_feathers_and_a_pound_of_bricks_weigh/
Governments will be ordering crypto exchanges to shut down as the fiat Ponzi collapses; get your coins out
Governments will use whatever excuse they want - 'national security, financial stability, good of the people, etc...' but at the end they want to prevent people from getting off their sinking fiat ship.
It's not if, but when, they order exchanges shut down - that includes Coinbase. And Coinbase is already slow-walking withdrawals and requiring new and laborious and tedious enhanced KYC procedures.
Good luck out there and remember: not your keys...
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Thursday, 19 March 2020
In reference to my recent post about BTC block 672250, I found the same numbered block on Dogechain and the findings are suspicious. The block was generated at 4:19 on 4/19 bicycle day.
The world didn't switch to Netflix because it had an ideological boner for streaming video. It switched to Netflix, because Netflix saved people time and money. Bitcoin will win when it does the same. No one cares about sound money. They care about saving money. Build use cases that save Alice money
Based upon the inter connectivity of block number and future value it is important to keep an eye out for block 672250 in about 50000 blocks or we may never achieve block 1000000.
Gap between BTC & BCH transaction count dropped over past few days
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Every week or so I look at Bit Info Charts BTC vs BCH transaction count graph. Just to see periodically how things are progressing. I was quite surprised today when I saw over the past few days the BTC transaction count has been dropping while the BCH count has been increasing. Of course BTC fees get in the way, but will be curious if trends like this continue over the coming months. Any other theories why this is happening? [link] [comments] |
source https://www.reddit.com/r/btc/comments/fl2rso/gap_between_btc_bch_transaction_count_dropped/
The whole world has forgotten (or never realized) what Bitcoin was supposed to be.
A new kind of money. Permissionless, unstoppable peer to peer electronic cash. Instant and nearly free. This is by far the most important use case for blockchain technology, and Bitcoin Cash (BCH) is the project with the highest chance of success for this.
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source https://www.reddit.com/r/btc/comments/fl2ise/the_whole_world_has_forgotten_or_never_realized/
Armour Coatings Painting (Melbourne Australia) now accepting Bitcoin Cash. Daniel did an amazing job on our apartment and I would highly recommend him to anyone who is after high quality painting, plaster repairs, home maintenance & decoration
Any BCH merchants confirmed in the Philippines?
Well, I'm getting a little pumped up since BCH to PHP trading is currently floating around ~PHP9,817, any BCH merchants around the Pampanga area?
EDIT: Also, thanks for the first tip u/ErdoganTalk, thanks!
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source https://www.reddit.com/r/btc/comments/fl2dvr/any_bch_merchants_confirmed_in_the_philippines/
Now that sht is hitting the fan I think I’ll be buying back into bch
Also if you don’t think corona isn’t a cover for a collapse lol just lol.
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source https://www.reddit.com/r/btc/comments/fl0lcy/now_that_sht_is_hitting_the_fan_i_think_ill_be/
Wednesday, 18 March 2020
BCH listing event on crypto.com exchange
For those who don't know crypto.com they're the company behind awesome MCO VISA cards (formerly known as Monaco) and those cards have shipped in the US and just recently started shipping in the UK with EU to follow.
Apart from that, they launched an exchange few months ago, and have their CRO token to fuel that so naturally these events are to popularize the CRO token and incentivize holders of other tokens to come to their exchange so check it out!
There were other events with other coins, too, maybe they'll announce a BCH trading battle or something else soon.
This syndicate is a sweet deal for those holding CRO anyway, as it enables us to hold CRO and grab some "free" coins as an added bonus.
Check out the terms here: https://blog.crypto.com/the-syndicate-to-list-bch/
HONG KONG, March 18, 2020 – Crypto.com is pleased to announce the listing of Bitcoin Cash (BCH) on The Syndicate platform. All Crypto.com token (CRO) token stakers will be able to participate in a discounted sale event for 500,000 USD worth of BCH at 50% off. The listing event will commence on Tuesday, 31 March 2020 on the Crypto.com Exchange.
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source https://www.reddit.com/r/btc/comments/fklu68/bch_listing_event_on_cryptocom_exchange/
Time to buy?
So I’m now 45% (ish) down in btc... The way I see it, that just means this is a good time to buy more. What are your thoughts? Ty in advance
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