Bitcoin Reaches New All-Time High Hash Rate Just A Week Before Halving
Some Crypto Analysts Consider The Increased Hash Rate To Affect Bitcoin’s Price Positively, As “Price Follows Hashrate” The largest cryptocurrency to date, Bitcoin, is preparing for its third halving, scheduled at block 690,000, or around May 14. Meanwhile, Bitcoin miners are putting even greater push for validating transactions, which is often referred to as a bullish sign. The amount of computer power needed to validate a transaction on Bitcoin’s blockchain peaked with a new all-time high on May 3. Crypto speculators consider the halving event as a catalyst for Bitcoin’s price to explode in the months after the reward cut. Crypto analysis company Glassnode posted a chart on Twitter, marking the bullish exponential curve of hashrate activity. Traders and enthusiasts, who believe in the “price follows hashrate” maxima quickly showed their enthusiasm about the peak. Max Keiser, for example, shared a chart from Bitcoin.com, showing his bullish stance on the future price of Bitcoin. Source: Glassnode The correlation between Bitcoin’s price and the hashrate is still not confirmed, but there are some historical hints that such correlation may exist. However, if Bitcoin’s price increases, miners get a bigger reward for mining a block. The price increase leads to more miners joining the race, which increases hashrate as well. For instance, in September 2018, just moments before the crypto winter, Bitcoin’s network had 56 ExHash-per-second (EH/s) with price per one BTC roughly at $6,500. During the following three months, Bitcoin’s network hashrate fell to as low as 31 EH/s, with a price per BTC around the $4,000 mark. However, the thesis that more miners are entering the computing pool when Bitcoin is approaching its halving may not be entirely accurate. The halving procedure cuts down the reward per mined block in half. Small and mid-sized miners and mining farms may be forced to shut down operations, as they might not clear their costs for operating the rigs. Some experts believe the hashrate push could be a last “attack” towards making a profit before the reward cut. Meanwhile, other crypto experts consider the spike to be because of the possible price increase anticipation. The CFO of Boston Trading Co. Jeremy Britton explained that with the increasing scarcity for mining precious metals (like Gold, for example), its price increases. The same principle may be applied for Bitcoin, also. “When Bitcoin’s price crashed in 2019, its price did not drop below $3,000, because miners didn’t want to sell on loss. The expenses for mining a single block on Bitcoin’s network are around $3,000, without considering the costs for equipment and the Internet”, Britton stated. The next halving, scheduled for May 14, would further increase the costs per mining a BTC block. “The next possible floor for Bitcoin’s price is around $6,000 because miners won’t agree to sell on loss”, Britton concluded. Pricewise, Bitcoin failed to overcome and settle above $9,000, as the weekend rally broke above the psychological barrier, but was quickly corrected to trade at $8,719.97 currently. The hashrate peak, however, pushed trading volumes up from May 3 with over $8 billion.
Are Bitcoin fundamentals getting stronger or weaker?
Well, I follow Bitcoin only since early 2017 but fundamentals (in equity you use quantitative and qualitative metrics) which are (directly or indirectly impacting Bitcoin) in my opinion: Thanks to Jameson Lopp and Willy Woo 2018 commits & contributors : Bitcoin 3274 , LND 3050 Bitcoin Lightning evolution + Blockstream Satellite launch Google scholar articles mentioning bitcoin in 2018 : 14,400 (from 136 in 2010, 4'680 2015) Segwit adoption near 50%: https://transactionfee.info/charts/payments/segwit ( full SegWit adoption will bring blocks up to 2-4 mb range ?) Mining difficulty strongly trending upward + GEForce GTX 1080 out of stock Blockchain industry Venture capital funding in 2018: 3B USD from 0.8B in 2017 and 0.3B in 2014 Growth rate of Bitcoin reddit subscribers +61% in 2018. FIO Protocol evolution : https://fio.foundation/ for a killer app, user friendly/mass adoption? Guys like Spencer Bogart, Pantera Capital, Mike Novogratz, Tom Lee, Anthony Pompliano, Tim Draper putting huge ressources on it. (Yes they are speculators I know, but speculators also help providing blood to the bitcoin's heart. Tony Robbins also talking about it Crypo ATM market doubled in 2018. Can book 550K hotels in 210 countries in the world using Bitcoin : https://Travala.com Guys like Andreas Antonopoulos, Erik Voorhees, Max Keiser supporting and educating us about Bitcoin on a daily basis. Maybe the price overshooted fundamentals in december 2017 but they seem improving not deteriorating. Sure for now sentiment is a strong "fundamental". Well I could write a book with all the Bitcoin direct on indirect fundamentals, ho thanks to the The Bitcoin Standard: The Decentralized Alternative to Central Banking by Saifedean Ammou. Hope they are getting stronger. "Every year Bitcoin survives, it demonstrates the resilience and robustness of the protocol, market, and industry that supports it."
Bitcoin’s Record Hash Rate May Hint at Price Gains to Come
Article by Coindesk: Omkar Godbole Bitcoin’s latest bout of consolidation may end up with bullish breakout, as a key metric of miner confidence has hit all-time highs. The top cryptocurrency by market value has clocked lower daily highs and higher daily lows over the last three days and is currently trading at $10,300 on Bitstamp, little changed on a 24-hour basis. The cryptocurrency has charted the narrowing price range amid a surge in non-price metrics including a rise in the network’s hash rate — a measure of the computing power dedicated to mining bitcoin. The two-week average hash rate reached a record high of 85 exahashes per second (EH/s) around 19:00 UTC last Friday. Further, mining difficulty — a measure of how hard it is to create a block of transactions — also jumped to a new all-time of nearly 12 trillion. The hash rate could be considered a barometer of miner’s confidence in the bitcoin price rally. After all, the miners would be ready to dedicate more resources for mining if they are bullish on price and would want to scale back their operations if a price slide is expected. Hence, many observers, including the likes of Changpeng Zhao, Founder of Binance, and former Wall Street trader and journalist Max Keiser believe prices follow hash rate. https://preview.redd.it/vapgqlijqgn31.png?width=660&format=png&auto=webp&s=f7dbc990a6f6f57cbbf16ce2bbafa193e49a8acf Zhao tweeted on Friday that, “a rising hash rate means more miners are investing in BTC”, while few other observers stated that sellers should think twice before betting against the most secure blockchain — the higher the hash rate of a cryptocurrency network, the more expensive to 51 percent attack. Put simply, Zhao is expecting bitcoin’s price to track the hash rate higher. It is worth noting that the market stands divided on the relationship between bitcoin’s price and hash rate. Some observers believe the hash rate follows price and the metric’s outperformance represents overtly exuberant miners. Hence, reading the rising hash rate as a sign of an impending price rally may prove costly. That said, the price is likely to follow the hash rate this time, as overexuberance is typically observed at market tops or near record highs. As of now, BTC is down almost $10,000 from the record high of $20,000 reached in December. Also, the market sentiment is quite bullish with reward halving (supply cut) due in less than a year and the sustained uptick in miners’ confidence is more likely to draw fresh bids, possibly leading to a positive feedback loop. All-in-all, the narrowing price range established over the last few days is likely to pave the way for a bullish move.
Daily and 4-hour charts
Bitcoin has charted (above left) back-to-back inside bar candlestick pattern over the last three days. The first inside bar appeared on Friday as that day’s high and low fell within Thursday’s trading range. The second and the third inside bar candle was created on Saturday and Sunday, respectively. Inside bars indicate consolidation and lack of volatility and often end with an explosive move on either side. A break below the first inside bar’s (Friday) low of $10,154 would imply range breakdown and could yield a stronger sell-off to levels below $9,855 (Sept. 11 low). A break above Friday’s high of $10,458 would imply range breakout and open the doors to $10,956 (July 20 high). The falling wedge breakout confirmed on the 4-hour chart (above right) last week is still valid. So, the probability of range breakout is high. Disclosure:The author holds no cryptocurrency assets at the time of writing. Bitcoin image via Shutterstock; charts by Trading View
Bitcoin’s Record Hash Rate May Hint at Price Gains to Come
Bitcoin’s latest bout of consolidation may end up with bullish breakout, as a key metric of miner confidence has hit all-time highs. The top cryptocurrency by market value has clocked lower daily highs and higher daily lows over the last three days and is currently trading at $10,300 on Bitstamp, little changed on a 24-hour basis. The cryptocurrency has charted the narrowing price range amid a surge in non-price metrics including a rise in the network’s hash rate – a measure of the computing power dedicated to mining bitcoin. Notably, the two-week average hash rate reached a record high of 85 exahashes per second (EH/s) around 19:00 UTC on Friday. Further, mining difficulty – a measure of how hard it is to create a block of transactions – also jumped to a new all-time high of nearly 12 trillion. Hash rate can be considered a barometer of miners’ confidence in the bitcoin price rally. After all, they are more likely to dedicate more resources to the computer intensive process that secures the network and processes transactions if they are bullish on price. Miners would likely scale back operations if a price slide is expected. Hence, many observers, including the likes of Changpeng Zhao, CEO of Binance, and former Wall Street trader and journalist Max Keiser believe prices follow hash rate. https://www.coindesk.com/bitcoins-record-hash-rate-may-hint-at-price-gains-to-come
Triều Tiên bác bỏ cáo buộc hack 2 tỷ đô la từ các sàn giao dịch tiền điện tử và ngân hàng
📷 Triều Tiên đang bác bỏ cáo buộc có được 2 tỷ đô la thông qua việc hack các ngân hàng và sàn giao dịch tiền điện tử. Xem thêm: kyc la gi Triều Tiên cáo buộc Hoa Kỳ lan truyền tin đồn giả Vào ngày 1 tháng 9, Cơ quan Thông tấn Trung ương Triều Tiên (KCNA) đã bác bỏ cáo buộc hack của các đặc vụ Triều Tiên. Như Tạp Chí Bitcoin đã báo cáo trước đây, Ủy ban trừng phạt Triều Tiên của Hội đồng Bảo an Liên Hợp Quốc cho biết các hacker Triều Tiên đang quyên tiền cho các chương trình WMD (weapons of mass destruction- vũ khí hủy diệt hàng loạt), với tổng số tiền thu được ước tính lên tới 2 tỷ USD.” Đáp lại, KCNA đã trích dẫn một tuyên bố từ Ủy ban điều phối quốc gia của Triều Tiên về phòng chống rửa tiền và chống lại khủng bố tài chính, trong đó tuyên bố rằng Hoa Kỳ và các thế lực thù địch khác hiện đang lan truyền tin đồn vu khống. Họ nói rằng: Sự nói dối trắng trợn như vậy của các thế lực thù địch không gì khác hơn là một trò chơi khăm nhằm làm lu mờ hình ảnh tốt đẹp của Triều Tiên và biện minh cho các biện pháp trừng phạt và áp lực chống lại Triều Tiên. Tuyên bố nói thêm rằng LHQ là người tái hiện lại mánh khóe cũ giống như những kẻ tuyên truyền phát xít Hitler thường bám vào. Như Tạp Chí Bitcoin đã báo cáo trước đó, Liên Hợp Quốc đang điều tra 35 vụ tấn công mạng có chủ đích của Triều Tiên trên 17 quốc gia, trong đó có 10 mục tiêu trực tiếp nhắm vào Hàn Quốc, trong khi Ấn Độ là nạn nhân của ba vụ tấn công. Việt Nam không có vụ tấn công nào. Giá Bitcoin có thể sụp đổ tới 8.000 USD nếu phá vỡ thời khắc quan trọng Theo các nhà phân tích kỹ thuật và trader tiền điện tử, giá bitcoin đang ở thời khắc quan trọng sau khi đóng cửa hàng tuần thiếu quyết đoán và đang chờ xác nhận về sự phá vỡ xu hướng ngắn hạn hoặc đảo ngược hoàn toàn đối với BTC. Xem thêm: cash là gì Kể từ tháng 7, giá bitcoin đã thử nghiệm cái gọi là phạm vi đáy từ $ 9,400 đến $ 9,700 tổng cộng sáu lần, làm suy yếu sự hỗ trợ trong hai tháng qua. 📷 Biểu đồ giá BTC hiện tại Nguồn: Tradingview Do sự hỗ trợ suy yếu, các nhà phân tích như Nick Cote, DonAlt, Scott Melker và Josh Rager đã nói rằng nếu giá bitcoin không vượt qua ngưỡng kháng cự quan trọng trên 10.000 đô la trong thời gian tới, nó có thể có nguy cơ giảm xuống dưới mức 9.000 đô la. Có khả năng giá bitcoin giảm xuống mức hỗ trợ thấp hơn không? Trong 72 giờ qua, giá bitcoin đã dần hồi phục từ $ 9.300 đến $ 9.700 với dự đoán về việc đóng cửa hàng tuần, tương tự như cuối tháng Bảy. Tuy nhiên, không giống như lần trước, tiền điện tử chiếm ưu thế bật ra khỏi đáy phạm vi, nó đã phải vật lộn để phục hồi với sức mạnh có thể do khối lượng giao dịch giảm. Dữ liệu được cung cấp bởi OnChainFX cho thấy khối lượng BTC “Real 10”, nơi đo lường khối lượng giao dịch bitcoin hàng ngày được kiểm chứng được bởi Bitwise Asset Management, đã giảm xuống còn 350 triệu đô la vào tháng Chín. So sánh, khối lượng BTC “Real 10” đã đạt được 2 tỷ đô la trong tháng 7 và dao động ở mức khoảng 900 triệu đô la trong tháng 8. Nếu BTC không vượt qua được các ngưỡng kháng cự quan trọng do sự quan tâm của thị trường giảm, Côte nhấn mạnh rằng BTC có thể sẽ kiểm tra $ 9.100 như là mức hỗ trợ chính tiếp theo. Cote nói: Giá bitcoin đã chuyển sang mức quan trọng của đợt giảm giá. Một động thái vượt qua mức giảm giá này sẽ cho thấy sự đảo ngược xu hướng của những chú bò, với mục tiêu trước mắt là $ 10.300 nếu không vi phạm có thể sẽ đẩy BTC trở lại để kiểm tra mức hỗ trợ chính $ 9.100. 📷 Nick [email protected] The #Bitcoin price has moved into the critical level of the bearish throwback. A move above this throwback would indicate a trend reversal for the bulls, with the immediate target of $10,300 Failure to breach will likely send us back to to test the $9,100 major support level. 📷538:39 AM - Sep 2, 2019Twitter Ads info and privacySee Nick Cote's other Tweets Tương tự, vào cuối tháng 8, DonAlt nói: Tại thời điểm này, tôi sẽ rất ngạc nhiên bởi bất kỳ sự tăng giá đáng kể nào mà không có stop run (Sub $ 9000). Không có bất kỳ động lực nào về phía con bò tại các khu vực quan trọng trên biểu đồ. 📷 [email protected] · Aug 29, 2019Replying to @CryptoDonAlt $BTC daily update: Trouble in paradise. The ~9800 support area (green) unsurprisingly gave out today after 6 tests in short succession. That led to the range bottom getting hit once more, making this the 5th test this quarter. I bought 9.5k the last time, not doing it again. 📷 📷 [email protected] $BTC daily upd.: Consolidating where it shouldn't. At this point, I'd be very surprised by any significant upside without a stop run taking place (Sub $9000). There just isn't any momentum on the bull side at key areas on the chart. Monthly close tomorrow, expecting volatility. 📷2761:21 AM - Aug 31, 2019Twitter Ads info and privacy54 people are talking about this Trong ngắn hạn, các nhà phân tích kỹ thuật hy vọng bitcoin sẽ chứng minh sự biến động, phá vỡ trên 10.000 đô la hoặc phá vỡ dưới một đường xu hướng chính, có thể giảm xuống mức 8.000 đô la, mức tương đương với giá đang được giao dịch trên thị trường tương lai CME. Tuy nhiên, các nhà đầu tư như Max Keizer vẫn lạc quan về xu hướng dài hạn của bitcoin, dự kiến sẽ bắt đầu một đợt tăng mới mở rộng vào cuối năm. 📷 Max Keiser, tweet [email protected] #Bitcoin hash approaches 90 Quintillion. Per protocol’s hard-coded Game Theory, hash precedes price. $28,000 in play. 3524:06 PM - Sep 1, 2019Twitter Ads info and privacy93 people are talking about this
Dự đoán cho thấy BCH sẽ tăng trưởng 150% dù gặp nhiều bất ổn
Ở thời điểm hiện tại, Bitcoin được xem là nhân tố duy nhất khuynh đảo thị trường crypto. Trong khi các altcoin khác vẫn đang “ngủ đông” và thiếu sự cạnh tranh từ các coin giá trị thấp hơn, BTC đa thu hút tất cả sự chú ý của thế giới. Xem thêm: coin ada Tiềm năng lớn trên biểu đồ BCH Bitcoin Cash (BCH) hiện là một trong những tài sản điện tử hàng đầu về tốc độ tăng trưởng trong 24 giờ. Bắt đầu từ phiên cuối tuần với giá 308 đô la, BCH đã nhảy lên 10% để đạt mức giá 340 đô la trong phiên giao dịch Chủ Nhật vừa qua. Ngoài ra thị trường còn chứng kiến con số ấn tượng quanh mức 330 đô la vào thứ Hai kế tiếp, vượt trội so với các altcoin còn lại. BCH cũng giành lại vị trí thứ 4 trong thị trường vốn hóa, khi gần chạm mốc 6 tỷ đô la. Trader crypto ‘Don Alt’ đã thu thập biểu giá của các alcoin, đồng thời chỉ ra lý do vì sao BCH đang chiếm nhiều tiềm năng nhất trên thị trường. 📷 [email protected] $BCH This is one of the charts with the most potential out there right now. Looks as if it wants to pull a BTC like run soon. As long as it can close through resistance (0.035) I'll suspect BCH is going to retest blue (0.075) which would be + 150% from here. 📷4263:13 AM - Aug 12, 2019Twitter Ads info and privacy90 people are talking about this “Hãy nhìn vào biểu đồ, BCH có thể từ mức chạm ngưỡng kháng (0.035) đến việc quay lại mức retest xanh (0.075) như tôi dự đoán để tăng lên 150%.” Khi các altcoin khác vẫn đang cho thấy tiềm năng không rõ rệt, thì sự vượt trội của BTC luôn thu hút các trader. Điều cần thiết hiện nay của BTC là phải rơi vào khoảng giữa 60% hoặc thấp hơn bất kì alt nào, kể cả người em BCH. Việc retest vùng phá ngưỡng đã được trader ‘Big Cheds’ của CNBC ghi nhận. Xem thêm: các loại đồng tiền kỹ thuật số 📷 Big [email protected] $BCH #BitcoinCash - Testing key resistance 📷515:35 AM - Aug 12, 2019Twitter Ads info and privacySee Big Cheds's other Tweets BCH được ví như một “con thú đầy vết sẹo” BCH được xem là tài sản crypto mang đầy tính tranh cãi, thu hút nhiều sự chú ý trên các phương tiện truyền thông. Được xem như đối thủ cạnh tranh trực tiếp với BTC, cộng đồng crypto đã từng chia thành hai lập trường đối nghịch khi nói về BCH, và hiện tại đang có xu hướng tái diễn. RT neo Max Keizer, một trong những “cuồng tín” về BTC đã tweet về dự đoán về mức tăng chạm mốc 15,000 đô la vào tuần trước. Mới đây, anh đã chia sẽ về BCH qua dòng tweet mới nhất của mình. 📷 Max Keiser, tweet [email protected] BCH is a wounded, volatile animal. A year from now it will struggle to stay above $100. The project was DOA from day-1. 90% of it’s market cap is the product of manipulation that will be impossible to meaningfully sustain. 5017:38 AM - Aug 12, 2019Twitter Ads info and privacy119 people are talking about this “BCH giống như một con thú hoang đầy vết sẹo và khó kiểm soát. Tương lai của chúng sẽ rất chật vật để tránh bị rớt giá xuống mức 100 đô la. Khi DOA bắt đầu, 90% thị trường vốn hóa của BCH sẽ bị thao túng và khó cầm cự được lâu.” Chia sẽ của Keizer nhận được nhiều ý kiến ủng hộ lẫn phản bác trong cộng đồng crypto. Một tài khoản còn đặt nghi vấn về việc thêm FUD: “Câu hỏi được đặt ra là vì sao họ lại FUD #BCH khi có quá nhiều sự thao túng diễn ra trong thời điểm này.” Một số ý kiến đồng thuận với giả thiết trên, nhưng cũng chỉ ra một số động thái tích cực từ chiến dịch cho BCH; chẳng hạn như giao diện đẹp, ví điện tử thu hút, giao dịch tích hợp và không phải trả thêm phí. Đứng từ góc độ thị trường, BCH vẫn còn cách khá xa người anh BTC của mình. Minh chứng là khi ATH của BCH lao dốc đến hơn 90% so với mức 42% của BTC. Tuy nhiên như những gì mà trader ‘DonAlt’ đã chỉ ra, BCH vẫn có tiềm năng sinh lời riêng thu hút các trader.
Is there a media agenda to kill off altcoins so that Bitcoin can grow?
A couple of days ago on the Dash Nation Discord longtime community member toknormal shared some thoughts about Bitcoin and altcoins. It's shared below in its entirety in the hopes that it'll be thought-provoking to those on this subreddit and may spark some conversation. ------------------------------------------------------------ TL;DR: This post is about an emerging media agenda to "kill off" altcoins so that bitcoin can grow. The (faulty) perception by bitcoin maximalists that altcoins are a deadweight. How they are going to attack us. Why this is a crucial moment to try to kill off alts and how Dash as a community can constructively address it to its advantage. See also #markets [channel in the Dash Nation Discord linked above] where I've posted some observations about the very long range nature of the Dash market VS bitcoin and its prospects. I usually try not to write long posts anymore. But my nerves are getting the better of me and all charts are sending the same message so I decided make this a bit of a ramble. Lately I've been debating (on and off) with the maximalists in the BTC Wall Observer thread (who are very nice people and not trolls) but are convinced that alts are going to get wiped out. I've noticed a common theme in all the conversations that suddenly took me aback - along the lines of "ok - this is it, Bitcoin is now established, we don't need alts any more". Then I saw Max Keiser suddenly declare himself to be a "bitcoin maximalist" out of the blue. This made me think for a bit because whatever one thinks of Max Keiser, he's not a monopolist. I also noticed how consistent his arguments were with those that I'd encountered in the "Wall Observer" thread and other places such as various Twitter feeds. The common mantra was that "Bitcoin can do everything". I'd like to bring this agenda to the community's attention - i.e. that there's some kind of co-ordinated effort afoot to kill off alts going on (even from people who don't believe in monopolies) and offer some tips as to how to address it. Why now ? Without knowing much about the politics, it's easy to see why people like Max Keiser might be - albeit guardedly - positioning themselves as "maximalists" at this particular moment in time. Also why there might be a wider coercive effort to kill off altcoins. You only have to look at the Bitcoin dominance charts. (To find this, go to coinmarketcap.com and find the little "Dominance" link right at the top of the page - quite small). Alts have "eaten" bitcoin's lunch in 3 distinct phases, each of which lasted around 3 years. The first was the "dawn" of alt coins around 2013 when we saw Peercoin, Feathercoin et al emerging and that died off around halfway through the post 2013 bear market. The second was in 2015 when bitcoin was doing basically nothing but consolidating and Dash hit its second ATH on the ratio of 0.02+. The third was the "perfect storm" of ICOs and Bitcoin contentious hard forks when Bitcoin's very existence was in jeopardy. Now we're about to commence a new altcoin dominance rally. https://preview.redd.it/4smbtxd89d031.png?width=1360&format=png&auto=webp&s=583333624bc64cd72c93ca5fc90eeab13794ed97 The "maximalists" are aware of a potentially massive impending "Phase 4" altcoin capitalisation beyond anything that has been seen to date. If you look at that chart you can see we are on the cusp of completing a consolidation which - if sustained - will lead to a new influx of growth. You can also see that the growth profiles of altcoin dominance is asymmetrical - there are very long bear markets but right at the end there's an almost vertical, massively invasive bull market. That's what the monopolists are trying to mitigate. My contention is that this is good for bitcoin. It is natural because bitcoin is a reserve asset that can only capitalise from utility assets that lie above it in "Exter's Pyramid". There is no conflict between bitcoin and other crypto assets and Dash should easily have a 2x to 10x growth against BTC in front of it if BTC functions as a reserve asset in the crypto space. That growth will ultimately find its way into bitcoin, being the reserve. But many maximalists don't see it that way. They see competing assets as draining capital, brainpower and marketcap from bitcoin. This is ridiculous and not true, but it doesn't matter - they are going to start a media war (possibly worse) against alts. So we need to be aware of this and be able to field authentic challenges to their attacks. How to address institutional challenges ? There are 2 core themes IMO:
DIVERSITY (Is an essential component of any market)
ECONOMIC THEORY (Bitcoin is not a natural monopoly)
Most people can understand the idea of "trading pairs". If you don't have a trading pair in the same asset class then you ain't got no market. So from that perspective alone Bitcoin is not a go-er on its own. Side chains, Mimblewinble, whatever technology BTC comes up with, it can't be independently valued as long as it's all pegged to BTC. So that on its own is a dead duck. Then, economic theory has quite a lot to say about whether bitcoin can "kill of all alts" or not. It all depends on whether bitcoin is a natural monopoly:
A natural monopoly is a monopoly in an industry in which high infrastructural costs and other barriers to entry relative to the size of the market give the largest supplier in an industry, often the first supplier in a market, an overwhelming advantage over potential competitors.
Economics What is a "Bitcoin maximalist" ? It is someone who's advocating that cryptocurrencies are a natural monopoly. Natural monopolies are well known and researched phenomena in economics. We can test this thesis against the definition of natural monopolies and compare each aspect of the definition as to how it applies to cryptos. Intuitively, it seems ridiculous that there can only be one crypto but the media war will try to portay it as such. Dash has made huge advances and we must not take our eye off the ball at this crucial time when altcoins are at the cusp of a new growth phase. The monopolists have noticed this "end of phase" period and they think we haven't. Having been engaged in much of this debate lately I've been wondering if I should ditch Dash and go all in Bitcoin as I realised that altcoins in general are at a watershed phase. Is there going to be another bull market against BTC or isn't there ? I've spent a lot of time thinking about this, engaging bitcoin maximalists on other threads and so on. Disclosure - I'm holding BTC as well as Dash. But the truth is I'd rather Dash succeeded and grew against bitcoin. It would be better for bitcoin, better for crypto and better for the world because diversity is a measure of freedom and like it or not, Dash is now one of the significant digital assets. Regarding 1, I will link to one of my posts on the Wall Observer thread. Obviously it is a huge subject and many will have opinions but High Infrastructural Costs Dash has already overcome these as a "barrier to entry". The Dash network hashrate is huge in comparison to what's required to secure a viable cryptocurrency. It has also captured enough of a relative market size to be significantly traded, reviewed and invested in. Over Dash's lifetime, ROI is better then bitcoin. (See Dash/BTC). William Baumol Criteria According to this definition, "multi-firm" production would (and is) making cryptocurrency cheaper. If Bitcoin had been unique in the market it would not have had to compete with other blockchains for miners for example. We would not have had mining profitability ranking that tell miners which coin is most viable for them (almost never bitcoin). We would not have had proof of stake. Therefore Bitcoin does not meet the William Baumol criteria for a natural monopoly as "multi-firm" production has made the bitcoin network more efficient (by demonstrating competitively its inefficiencies) Cost of Production The original concept of a "natural monopoly" was made by John Stuart Mill according to the Wikipedia entry for "natural monopoly". His motivation was that in the absence of a natural monopoly, prices would reflect the cost of production.
Several people have started to agree with me recently that litecoins aren't dead yet. But I wasn't quite able to give a concrete answer as to why, until a comment reminded me that litecoins are the most widely traded of all the altcoins. BTC-e, for example, doesn't deal in phoenixcoins and ronpaulcoins. Being widely traded is a significant advantage, even if the coin doesn't itself have any advantages. I'm not sure why ASICs are relevant to the price of altcoins. ASICs are going to be distributed amongst miners just like they were with bitcoins; this just makes the miners fight a losing battle with each other, costing each other money. As long as one person doesn't get all the ASICs, it doesn't have any effect on network security. A while back, all the speculation was that litecoins would overtake bitcoins once Mt Gox accepted them for trading. In the interim, however, we have several major exchanges trading them. When an exchange wants to expand into altcoins, they don't look towards the trendiest new thing; the first mainstay they adopt is litecoins. The other advantage litecoins have is that there is a certain amount of "lock-in" with other coins. I've already commented about the concept of technological "lock-in." In this case, you have exchanges like Cryptsy that denominate some altcoins solely in litecoins. I found out that there is a class of altcoins that can only be traded Bitcoins -> Litecoins -> Altcoin. Even if you don't want litecoins, you still have to buy them if you want to play the game with these "penny stock" coins. That keeps their price high because even if merchants do not accept them, they still have utility and "acceptance" by exchanges. Also, a quick thought to ponder: a lot of the reason why people buy bitcoins is that bubbles crash, things change, and bitcoins are still around. Have litecoins reached the point where people expect them to die, they don't, and therefore they think there must be something to them?
Max Keiser recommends Darkcoins; I do not
Max Keiser put out a tweet trying to sell darkcoins to his followers, saying he thinks they will recover after their recent bug-fueled crash. Remember that Keiser was also the one who said to buy the essentially 98% premined Quarks too, and that failure alone might be reason enough to ignore whatever he says. I like the idea that when an altcoin has a lot of hype, it's not time to buy it. Darkcoins may have some benefits, but there is so much hype around them that there is almost certainly a bubble there. Don't confuse that with the idea that darkcoins won't have a niche in the future. However, just like bitcoins, there are times when hype gets out of proportion to the advantages the technology has.
Today's altcoin mining report
Altcoin mining profitability is all over the map today. If I had started testing this pool back during the last cycle, it would have been interesting to see if we could deduce any patterns from this data. As you can see in the charts at: http://shoemakervillage.org/temp/altcoins2014-06-07.jpg there are about 20 coins that are constantly switching as the most profitable. This may be partially a result of those new coins that have extremely fast difficulty adjustments. The chart isn't as useful without being able to mouse over the bars, but it gets the general point across just seeing all the colors. People obviously do not value most altcoins for their specific features anymore; most of them are just a game. There is one trend that is not all over the place: http://shoemakervillage.org/temp/altcoins2014-06-07-2.jpg The expected payout of scrypt coins is at $1.33/Mh/day now, which is completely opposite the trend of increasing bitcoin prices.
The effects of orphanage
Some altcoins reduce the block confirmation time by making the coin ridiculously easy to mine. There's no advantage to creating an altcoin that has huge numbers of blocks, because then all that happens is that your "confirmed' transaction is more likely to get orphaned. In testing, I was getting 30% orphanage rates on some of these fast coins. Look at what happened last night in the course of a few blocks: http://shoemakervillage.org/temp/altcoins2014-06-07-3.jpg However, I'm still trying to figure out whether orphanage actually reduces the pool's revenue or not. The conclusion I'm coming to is that it only cuts miners' revenue from the expected value if your orphan rate is higher than the average orphan rate of the network. If everyone has 30% of blocks rejected, then the blocks are still being created at the same rate and everyone gets the same amount of money. You only lose money if you have more orphans than everyone else does. Am I missing something here? If not, then orphanage is only an indicator of a bug or of monetary losses if I have orphaned blocks for long networks like bitcoin, where having another pool finding a block within a second or two is very unlikely.
None of the altcoins has the innovation that bitcoin needs
The only true innovation from any altcoin that would pose a threat to bitcoin is if someone came up with a yet-unknown solution to the 1MB transaction limit, that will be permanent for an indefinite period of time, and released a new coin with it. Some people mistakenly say that people will switch to altcoins to get around the block size limit, but that isn't the case because the most any altcoin has done to resolve it is to make blocks more frequent, which only raises the limit to some hardcoded value. Raising the limit to some hardcoded value isn't "solving" the problem, it's just putting it off into the future. Don't make a mistake and buy altcoins thinking that some altcoin is going to address that limit, because none has.
Altcoin code is a mess
Altcoins are a mess, when you are trying to compile their code. If you haven't done this with many coin daemons, which most probably haven't, then you probably don't know that almost all altcoins are just clones of bitcoin with some minor changes. This is one of the reasons why bitcoins have such an advantage, because you can't be innovative when you just copy stuff from the bitcoin developers. What some people don't know is that most altcoins aren't even doing that. There are a few altcoins that have changed little in many years, so instead of incorporating fixes that have been included in bitcoin since then, those coins never upgraded to newer block templates and they don't include the latest features. It also means that bugs that were later fixed are still present in those coins. Some coins, like namecoin, are in horrible shape and for many, it's a matter of time before this code aging causes some sort of security issue to be discovered.
Dogecoins are doomed?
Dogecoins are supposedly doomed. The idea is that the block reward is decreasing too rapidly, and the price of dogecoins needs to rise to avoid a 51% attack. I'm not so sure that the developers of dogecoins will just roll over and die, given how large that community is. More likely is that if the price stays stable and more block reward decreases occur, they will release a fork to stop the reward decline earlier than expected. That will devalue dogecoins significantly. If the hashrate of dogecoins starts to drop, I would get out. I don't think the network is "doomed," but I do think that the only solution to the problem is to devalue coins, and you obviously don't want to be holding when that is announced.
Negative "interest" rates
Apparently, the speculation now is that negative interest rates are going to spread to the rest of the world, and that banks will start charging an account maintenance fee, along with eliminating interest payments. In that case, what is the purpose of using a bank? I won't be keeping a checking account if that happens. Instead, I'll close my account, buy a safe and store cash in it, using banks only to trade stocks. I don't think I spent a single dollar in actual cash for the past year before this, so this is a technological regression. What kind of world is this where it is a better idea for me to store wads of cash in a safe instead of putting it in a bank, where they actually take money from me?
Max Keiser. Home. Blog; FAQ; Sign Up; Log in; Bitcoin Investing Made Easy. Buy automatically every week or month, starting with as little as $10. Max Keiser welcomes you to Swan! You will get $10 of Bitcoin thirty days after your first purchase clears on a Swan Bitcoin savings plan. Get Started. Must be 18 or over, resident of US with US bank account and photo ID. Build Your Stack. Timing the ... Max Keiser reviews Bitcoin prediction from $100,000 to $400,000 for the first time in eight years. Bitcoin has corrected massively from $6,500 in December 2019 to $10,500 (yearly high). Max Keiser – a bitcoin investor and host of the Keiser Report – believes that the number one digital currency by market cap will spike to $400,000 per unit in the coming years.. Max Keiser ... Max Keiser Predicts $28k Bitcoin as Price Surges to $13,860 Author: Martin Young Last Updated Oct 28, 2020 @ 07 ... The weekly chart looks extremely bullish with another large green candle forming so even if this level is not broken this week, the momentum is still there for next. The Path to $17,000 BTC . If the king of crypto is able to break through this psychological barrier, there is very ... Chart of the USD/BTC trading pair from EXANTE Meanwhile, bitcoin is trading at $9,645 (-1,89%). Back in 2018, Keiser said dash (DASH) is a cryptocurrency that "has big potential and isn’t getting enough attention from the community."
Max Keiser - Future of Money is Gold, Silver and Bitcoin ...
️ September 9th - Teeka Tiwari's 'Set For Life' Summit: Register here: http://teeka.cryptonewsalerts.net In a recent interview with Cointelegrpah, Max Keise... Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Max Keiser, the host of Keiser Report, discusses Warren Buffet’s latest investment into gold and how it is going to affect the price of Bitcoin. Get your Coi... Max Keiser host of RT’s Keiser Report gets candid when he talks about JPMorgan having to pay a record $920 million for the alleged manipulation of global mar... SBTV discussed the future of money with Max Keiser, host of the Keiser Report and the Orange Pill Podcast. As the fiat currencies crumble with extreme money ...