Message from @Perihelion - CA

Discord ID: 396364717301432321


2017-12-28 18:08:31 UTC  

Copying a great YouTube comment from a video discussing the SegWit 2x fork coming up:

SegWit never had consensus, it would never be activated if it wasn't put into a compromise of SegWit2x which was to add SegWit and then also 2MB blocks. The 2x never happened, and this new SegWit2x fork is NOT the same thing.

New SegWit2X on 28t Dec is completely different thing. it is 4MB blocks, different algorithm, 2.5min block times, replay protection and pre-mine of Satoshi's coins (which is equivalent to theft of Satoshi's coins). This fork is one big fat scam written all over it.

Now about Lightning, it is only P2P IF 2 persons create channel directly between one another, but in reality this will not be the case. LN will have users create channels to highly concentrated HUBs which will be acting as middle man in transactions. Miners are not middle men as miners do not send/recieve an funds while LN HUBs do. Also LN is a centralised system. Bitcoin is not. In order to create LN channel you must first open a channel which is written to Bitcoin blockchain, paying a fee as for any other transaction, then again pay fee for closing this channel. It is more expensive to create direct channel in LN then just use Bitcoin layer.

LN is not a solution to Bitcoin scaling, LN is not a Bitcoin system at all. Bitcoin is chain of digital signatures... SegWit broke that rule by taking out the signatures, SegWit is therefore an Alcoin fork of Bitcoin and not a Bitcoin system either.

Bitcoin Cash is the only working as intended, Bitcoin system. if you read the Bitcoin white paper you will see Bitcoin is meant to be used as digital money, not as store of value (also store of value alone does not exist, I have video on this topic also).

2017-12-28 18:11:31 UTC  

@this_that5553 you were asking about SegWit2x

2017-12-28 18:13:22 UTC  

Segwit2 seems to be taking the best ideas from BCH though

2017-12-28 21:29:35 UTC  

@this_that5553 that's what I figured would happen with BCH. BTC *can* be updated if enough big guys agree (I think I read it's really only 6 guys that have to agree)

2017-12-28 22:52:02 UTC  

@ThisIsChris BCH already has a ton of the biggest names with bitcoin.

2017-12-28 22:52:25 UTC  

Segwit 2 has some a negro woman and maybe an exchange backing them?

2017-12-28 23:00:53 UTC  

@this_that5553 Yeah Segwit2x seems like randos, I was just agreeing with you that BTC could incorporate the code changes of any of the various forks. But you said BCH has major backers? I haven't seen anything but admit I haven't looked either

2017-12-28 23:20:34 UTC  

Satoshi Dice uses BCH exclusively for one. overstock uses BCH and BTC both.

2017-12-28 23:20:53 UTC  

BCH website shows all the backers

2017-12-28 23:21:58 UTC  

No kidding, that's neat and news to me. For the record I fondly remember Satoshi dice as the place I lost all my doge coin in 2013

2017-12-29 15:32:36 UTC  

Check out this chart that shows median transaction fee for the major cryptos. BTC doesn't fare too well:
https://bitinfocharts.com/comparison/median_transaction_fee-btc-eth-bch-ltc.html#3m

2017-12-29 15:35:18 UTC  

https://cdn.discordapp.com/attachments/393499059752796160/396325314520809481/image.png

2017-12-29 15:46:47 UTC  

hahahahahahaha

https://cdn.discordapp.com/attachments/393499059752796160/396328205667139584/Screenshot_at_2017-12-29_07-46-39.png

2017-12-29 15:46:55 UTC  

ITS NOT THERE

2017-12-29 18:05:07 UTC  

My major stakes atm are ripple and bch.

2017-12-29 18:06:08 UTC  

I thought I'd write my thoughts on crypto trading for consideration and critique.
I call my trade approach Parity Plus Advantage

2017-12-29 18:08:42 UTC  

The basic idea of the Parity part is that all things being equal in long run all major cryptos should be roughly equal in market cap value. You can use this to evaluate a parity price of different currencies. For example ripple has 100 billion units. Bitcoin has 21 million. If bitcoin is worth 15k then ripple parity is 3.15.

2017-12-29 18:09:40 UTC  

The Advantage part is the idea that in long run cryptos with technical advantage in speed security and utility should steal market cap from other cryptos.

2017-12-29 18:10:19 UTC  

For example ethereum is faster and has more utility than bitcoin so we should expect ethereum to exceed bitcoin in parity price in long run. How much is a soft estimate.

2017-12-29 18:11:52 UTC  

Using these methods I've decided to hold bitcoin cash and ripple. But if these are priced past parity I may sell out.

2017-12-29 18:14:41 UTC  

>all major cryptos should be roughly equal in market cap value

What defines a "major" crypto?

2017-12-29 18:15:10 UTC  

I think a lot of cryptos are over-valued because they're full of people who just want to "catch the next bitcoin-like wave", not because they fundamentally offer value in usage.

2017-12-29 18:15:46 UTC  

And I don't think the major infrastructure companies like Coinbase and BitPay will support 100 currencies, they'll probably keep it to 5 max.

2017-12-29 18:17:58 UTC  

I think btc bcc eth ltc xrp are the majors

2017-12-29 18:18:08 UTC  

But that may change with new comers

2017-12-29 18:18:49 UTC  

I'd consider anything with over 10 billion to be major currency.

2017-12-29 18:45:56 UTC  

tbh. any investment into crypto right now is good. there really isnt a bad investment except for the bottom of the barrel shitcoins.

2017-12-29 18:46:09 UTC  

and even then you can make money on those

2017-12-29 19:02:30 UTC  

@Perihelion - CA so you're saying "if they're close in value, they'll get closer in value"?

2017-12-29 19:03:37 UTC  

I'm saying if they stay in use then they'll get closer in value in long run minus structural advantages

2017-12-29 19:05:57 UTC  

For example. Let's assume bitcoin and ripple are equally useful. Then ripple should be worth 3.15. It's priced at 1.6. That's a buy. Now let's consider structural advantages. Is ripple more or less useful than btc? I'd say more useful. So that's an added margin of comfort. End result: ripple is a buy, btc is a sell

2017-12-29 19:06:48 UTC  

Calculating parity gives you a baseline to start evaluating advantages or disadvantages

2017-12-29 19:29:01 UTC  

Venezuela is launching "petro" a crypto backed by $250 billion in oil

2017-12-29 19:29:30 UTC  

That's a major challenge to financial system. Something to watch carefully

2017-12-29 22:04:00 UTC  

Tether is pegged to the dollar, but fluctuates. What's stopping me from buying every time it goes below $1, selling every time it goes above, and making easy money?

2017-12-29 22:48:54 UTC  

Tether is a scam

2017-12-29 22:49:00 UTC  

It is not backed by USD

2017-12-29 22:49:06 UTC  

They print as much as they want

2017-12-29 23:05:55 UTC  

You think it will crash soon?