Bitcoin / Cryptocurrency Discussion (And Predictions)

[Kevin88660]

They are likely just warming up:

"Assistant Attorney General Kenneth Polite of the Department of Justice's criminal division suggested U.S. authorities were “just getting started” in cracking down on similar firms involved in facilitating money laundering. Though no official directly commented on the ongoing case against crypto exchange FTX and its former CEO Sam Bankman-Fried, Monaco warned against those committing crimes against the U.S. financial system “from a tropical island"

Bitzlato and its founder face enforcement actions from US authorities

The U.S. Justice Department and Treasury Department jointly announced the major international cryptocurrency enforcement action.

cointelegraph.com

Crypto could be used to bypass sanctions. Since department of treasury controls ofac, and now they are getting department of justice together, my guess is they are hammering any entity that is doing business with Iran or Russia using crypto.

Could be laying a stage to hammer Binance next too.

 

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[Roli]

Lolz, so many people dying for crypto to fail. Same things being said when BTC was $500.

Sorry to disappoint you, doom mongers!

 

[Xeon]

Lolz, so many people dying for crypto to fail. Same things being said when BTC was $500.

Sorry to disappoint you, doom mongers!

Crypto is a scam!

 

[Antifragile]

LUKSO Mainnet Timeline and Process

LUKSO Landing: Part 2 of a 3 Article Series

medium.com

FYI
Supply will be 42MM, not initial 100MM

Price roller coaster here:

LUKSO (Old) price today, LYXe to USD live price, marketcap and chart | CoinMarketCap

The live LUKSO (Old) price today is $7.13 USD with a 24-hour trading volume of $82,520.42 USD. We update our LYXe to USD price in real-time.

coinmarketcap.com

Pump and dump and …

 

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[Practic]

Hey Fastlaners,
As Bitcoin is slowly becoming the real deal. I wanted to give Bitcoin it's own thread containing just long-term & short-term predictions & any big crypto news to help any others who's trading, hodling, etc. a place to throw in your predictions & any actions you plan on taking.

I see the current stage of Bitcoin & crypto as the new Napster & Limewire. Industry bigs (middle-men) will do all they can to fight it & shut it down, but they will soon find out - You can't beat the under-lying ideals & world-changing tech. It will carry on & win out in other forms because the market has experienced the benefits and the market always wins (it will even beat out government regulations).

Bitcoin is in the experienced the benefits stage. As more and more adopt to use Bitcoin as a form of payment (even if the sellers offering to take Btc as payment are valuing on speculative price/trading); the fact remains: They are still using Bitcoin as currency. It is being used as the real deal of exchange between goods & money.

Predictions Nov 8, 2017:
A fork titled B2X was recently cancelled (or "suspended") by their own backers & creators. This is going to give Btc a big bull-run for the next week or so to ~$9,000.

Once it hits this; if the bull-run slows down; a market correction drop of ~20-30% will hit around early or mid December. This will be a short-lived correction though as many are waiting on the sideline (who haven't jumped in the game) for this drop to happen and ready to buy into Bitcoin.

With or without this market correction happening; I strongly believe Btc will at least flirt with $10k before the year is over with.

My actions: I am going to Hodl until I see about a ~15% drop then going to sell half of my coins to later re-buy in once it begins climbing back from the drop. Then Hodl, Hodl, Hodl.

For several years researchers warned public that about 600 qubit quantum computers with modern algorithms can break encryption. See Shor's algorithm - Wikipedia

In these years some researchers claimed that they can break encryption with 372 qubit quantum computers. See China's new quantum code-breaking algorithm raises concerns in the US

IBM currently has 433 qubit quantum computer. See IBM launches its most powerful quantum computer with 433 qubits

In 2023 IBM will have 1000 qubit quantum computer. See Science | AAAS

In 2025 IBM will have 4000 qubit quantum computer. See IBM promises a 4,000 qubit quantum computer by 2025: Here's what it means

D-Wave’s next big quantum annealing computer – Advantage2 – is on schedule for launch in the 2023/24 timeframe. Advantage2 will feature 7000-plus qubits Qubits23 – D-Wave Asserts the Quantum Wait Is Over

In 2030 IBM will have 1,000,000 qubit quantum computer. IBM plans a huge leap in superfast quantum computing by 2023

Even so experts disagree on ability of 372 qubit quantum computers to break encryption, they all agree that 1,000,000 qubit quantum computers can do it.

This rise a question: how crypto can be good investment if in 2030 it will have zero value?

 

[GPM]

For several years researchers warned public that about 600 qubit quantum computers with modern algorithms can break encryption. See Shor's algorithm - Wikipedia

In these years some researchers claimed that they can break encryption with 372 qubit quantum computers. See China's new quantum code-breaking algorithm raises concerns in the US

IBM currently has 433 qubit quantum computer. See IBM launches its most powerful quantum computer with 433 qubits

In 2023 IBM will have 1000 qubit quantum computer. See Science | AAAS

In 2025 IBM will have 4000 qubit quantum computer. See IBM promises a 4,000 qubit quantum computer by 2025: Here's what it means

D-Wave’s next big quantum annealing computer – Advantage2 – is on schedule for launch in the 2023/24 timeframe. Advantage2 will feature 7000-plus qubits Qubits23 – D-Wave Asserts the Quantum Wait Is Over

In 2030 IBM will have 1,000,000 qubit quantum computer. IBM plans a huge leap in superfast quantum computing by 2023

Even so experts disagree on ability of 372 qubit quantum computers to break encryption, they all agree that 1,000,000 qubit quantum computers can do it.

This rise a question: how crypto can be good investment if in 2030 it will have zero value?

And how about everything that uses anything digital and encryption? Such as literally every single modern banking institute on the planet, the entire stock market, the whole commodities and futures markets, all medical records and data, probably tons of deeds and records, top secret government records and military technologies, the freaking launch codes of nuclear missiles and ICBMs...

WE ARE ALL DOOMED!!!!!!!!

 

[Practic]

And how about everything that uses anything digital and encryption? Such as literally every single modern banking institute on the planet, the entire stock market, the whole commodities and futures markets, all medical records and data, probably tons of deeds and records, top secret government records and military technologies, the freaking launch codes of nuclear missiles and ICBMs...

WE ARE ALL DOOMED!!!!!!!!

Governments, military, big corporations and banks have been preparing for quantum computers era for several decades, contrary to crypto industry where there is no a single expert who is working on such transition.

 

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[Kevin88660]

For several years researchers warned public that about 600 qubit quantum computers with modern algorithms can break encryption. See Shor's algorithm - Wikipedia

In these years some researchers claimed that they can break encryption with 372 qubit quantum computers. See China's new quantum code-breaking algorithm raises concerns in the US

IBM currently has 433 qubit quantum computer. See IBM launches its most powerful quantum computer with 433 qubits

In 2023 IBM will have 1000 qubit quantum computer. See Science | AAAS

In 2025 IBM will have 4000 qubit quantum computer. See IBM promises a 4,000 qubit quantum computer by 2025: Here's what it means

D-Wave’s next big quantum annealing computer – Advantage2 – is on schedule for launch in the 2023/24 timeframe. Advantage2 will feature 7000-plus qubits Qubits23 – D-Wave Asserts the Quantum Wait Is Over

In 2030 IBM will have 1,000,000 qubit quantum computer. IBM plans a huge leap in superfast quantum computing by 2023

Even so experts disagree on ability of 372 qubit quantum computers to break encryption, they all agree that 1,000,000 qubit quantum computers can do it.

This rise a question: how crypto can be good investment if in 2030 it will have zero value?

There is some development on quantum resistant crypto.

It also involves the practical question on cost versus reward. When you have powerful tools that run for years and break a coin, it cost you a lot of money, you could destroy a lot of value owned by others but there is very little value you could hack and extract over to you. The coin could be worthless after the security exploit.

In other words these tools should been seen as equivalent of missiles weapons. Just because they could destroy the world it does not mean they will be deployed.

 

[Practic]

There is some development on quantum resistant crypto.

It also involves the practical question on cost versus reward. When you have powerful tools that run for years and break a coin, it cost you a lot of money, you could destroy a lot of value owned by others but there is very little value you could hack and extract over to you. The coin could be worthless after the security exploit.

In other words these tools should been seen as equivalent of missiles weapons. Just because they could destroy the world it does not mean they will be deployed.

"There is some development on quantum resistant crypto."

Current cryptos are hard wired to the current cryptographic algorithms. To make quantum resistant crypto requires creation of new quantum resistant crypto coins, ledgers, technology. No single crypto projects has such.

 

[Antifragile]

Singularity is near folks. We’ll all live forever as machines. I am Bitcoins!


Here’s my prediction, take it to the bank:

By 2030 we’ll still be wearing shoes.

What worked for humans for 1,000 years, will likely work for another 100.

 

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[Kevin88660]

"There is some development on quantum resistant crypto."

Current cryptos are hard wired to the current cryptographic algorithms. To make quantum resistant crypto requires creation of new quantum resistant crypto coins, ledgers, technology. No single crypto projects has such.

Not an expert or developer with tech background but supposed when quantum resistant cryptography emerges you can migrate or fork over as long there is strong community support.

Bitcoin transaction records Or account balances are just open data that could be copied pasted over.

So instead of starting genesis block for new coin you can use the new cryptography/code to continue on existing transaction history of btc. Theoretically I don’t see why it could not be done.

 

[Ing]

Vitalic said, that they are to ad some encrypt difficulty to eth the next time because of the quantum progress. So you can absolutely adjust.

BUT only at the adjustable and so centralized cryptos. I m not sure (or I fear I am), what happens with Bitcoin. I don’t think, it is in any way adjustable in that hinsight.
So maybe there will be a significant change in the crypto world.

 

[Kevin88660]

Vitalic said, that they are to ad some encrypt difficulty to eth the next time because of the quantum progress. So you can absolutely adjust.

BUT only at the adjustable and so centralized cryptos. I m not sure (or I fear I am), what happens with Bitcoin. I don’t think, it is in any way adjustable in that hinsight.
So maybe there will be a significant change in the crypto world.

Biggest risk to crypto is that information, education and community communication of cryptocurrency runs on centralised platform.

Most of the platforms are controlled by U.S. entity.

Because crypto aren’t really gold bars that can sit at home and passed to your kid 20 years later. They require constant community participation, communication and involvement to sustain the value, mainly through social platforms.

 

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[Practic]

Not an expert or developer with tech background but supposed when quantum resistant cryptography emerges you can migrate or fork over as long there is strong community support.

Bitcoin transaction records Or account balances are just open data that could be copied pasted over.

So instead of starting genesis block for new coin you can use the new cryptography/code to continue on existing transaction history of btc. Theoretically I don’t see why it could not be done.

"Not an expert or developer"

Cryptographic algorithms connect private keys with public keys (address on a blockchain). That is why forking or other methods are not helpful. If you introduce a new cryptographic algorithm it means you are creating new blockchain, coins, etc.

 

[Roli]

Looks like my predictions are coming true. Mass protests in Wuhan over China's Covid lies. Mortgage crisis next.

Bitcoin up almost 50% since I made the forecast.

I'm guessing it will be at or near that $60k mark by late spring/early summer.

 

[Kevin88660]

"Not an expert or developer"

Cryptographic algorithms connect private keys with public keys (address on a blockchain). That is why forking or other methods are not helpful. If you introduce a new cryptographic algorithm it means you are creating new blockchain, coins, etc.

Does it mean that it is technically impossible to fork into a new cryptographic algorithm?

 

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[Roli]

Does it mean that it is technically impossible to fork into a new cryptographic algorithm?

A fork is simply a snapshot of the blockchain at a given moment, afterwards that copy is used to create a new protocol. This is why holders are offered airdrops of the new coin because it's essentially the same thing.

So if one day someone works out how to integrate quantum cryptography with web 3 blockchain tech, then the answer is, it's possible.

Or if integration is not completely possible, then a new quantum blockchain might run an emulation of an old chain, rather like you can run emulations of old Super Nintendo games on a modern PC.

 

[Practic]

Does it mean that it is technically impossible to fork into a new cryptographic algorithm?

New cryptographic algorithm means that you need a new standard for public keys (addresses) and private keys and their connections (which means a new blockchain)

 

[Practic]

A fork is simply a snapshot of the blockchain at a given moment, afterwards that copy is used to create a new protocol. This is why holders are offered airdrops of the new coin because it's essentially the same thing.

So if one day someone works out how to integrate quantum cryptography with web 3 blockchain tech, then the answer is, it's possible.

Or if integration is not completely possible, then a new quantum blockchain might run an emulation of an old chain, rather like you can run emulations of old Super Nintendo games on a modern PC.

No, you can not integrate an old blockchain into new post quantum computers security requirements. Your old blockchain has public to private keys connection secured by old cryptographic alghorithm, which can be easy broken in the quantum computer era. In this era you need a new blockchain, where private to public key connections are secured by new cryptographic algorithms.

 

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[EmotionEngine]

I can't believe that's an actual billboard.

 

[Antifragile]

LUKSO Mainnet Timeline and Process

LUKSO Landing: Part 2 of a 3 Article Series

medium.com

FYI
Supply will be 42MM, not initial 100MM

Price roller coaster here:

LUKSO (Old) price today, LYXe to USD live price, marketcap and chart | CoinMarketCap

The live LUKSO (Old) price today is $7.13 USD with a 24-hour trading volume of $82,520.42 USD. We update our LYXe to USD price in real-time.

coinmarketcap.com

Pump and dump and …

More pump here. Getting closer to that mainnet.

 

[MitchC]

STX with a massive pump @Timmy C if you’re still around? Haven’t seen you post

 

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[Timmy C]

STX with a massive pump @Timmy C if you’re still around? Haven’t seen you post

Hey mate. Yeh I seen that, spewing i missed that one. I only hold Bitcoin now.
I sold shitcoins as I am buying a house so I needed it haha.

 

[MitchC]

Hey mate. Yeh I seen that, spewing i missed that one. I only hold Bitcoin now.
I sold shitcoins as I am buying a house so I needed it haha.

I wouldn’t feel too bad that sounds like a pretty good financial decision to me lol

 

[Subsonic]

I recently started investing a small small ammount each month and I choose crypto as my investment. A big reason for choosing crypto for me was the volatile nature of the market. This should bring me experience much quicker about thing like handling low periods and losses and also about avoiding greed.
Otherwise I don't know too much about crypto but I do know that there was a huge crash last year and that the market will recover in the next few years. Well I don't know that but I predict that it will happen.
I decided to slowly build myself a diverse portfolio of non meme coins with a majority of the weight being in btc and eth.

So the question is what advice and you give me (a crypto noob) on things to learn/avoid to make money in the long run.
Down here is my current "portfolio". (Yeah ik it's not that much, I don't want to invest money I can't loose.)

 

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[Antifragile]

I recently started investing a small small ammount each month and I choose crypto as my investment. A big reason for choosing crypto for me was the volatile nature of the market. This should bring me experience much quicker about thing like handling low periods and losses and also about avoiding greed.
Otherwise I don't know too much about crypto but I do know that there was a huge crash last year and that the market will recover in the next few years. Well I don't know that but I predict that it will happen.
I decided to slowly build myself a diverse portfolio of non meme coins with a majority of the weight being in btc and eth.

So the question is what advice and you give me (a crypto noob) on things to learn/avoid to make money in the long run.
Down here is my current "portfolio". (Yeah ik it's not that much, I don't want to invest money I can't loose.)
View attachment 47313

Financial advice: #1 stop looking for financial advice from internet strangers on how to make money in the long run.

After you are done with #1, it’ll take a long while, I know…

#2 Invest in yourself: read books, research papers, become a better version of yourself to make more money. To save me time, read all 3 of MJ’s books.

#3 repeat

 

[Subsonic]

Financial advice: #1 stop looking for financial advice from internet strangers on how to make money in the long run.

After you are done with #1, it’ll take a long while, I know…

#2 Invest in yourself: read books, research papers, become a better version of yourself to make more money. To save me time, read all 3 of MJ’s books.

#3 repeat

I guess I came across wrong.
No I don't plan to get rich and retire off crypto. I want to learn investing and gain experience with it and I think crypto is the best place to start when I have nothing to loose.
Crypto is mb 10min of my day and I invest 50% of my allowance.
I also did read all 3 books several times and live by the principles from there. I had the idea to make a binance account from tmf where mj wrote to start purposefully saving and raising a army of freedom fighter dollars.

I spent most of my time building up my window cleaning business since that has turned out to be my best option right now.

I appreciate the advice and I know how you meant it. Ty

 

[Ing]

I recently started investing a small small ammount each month and I choose crypto as my investment. A big reason for choosing crypto for me was the volatile nature of the market. This should bring me experience much quicker about thing like handling low periods and losses and also about avoiding greed.
Otherwise I don't know too much about crypto but I do know that there was a huge crash last year and that the market will recover in the next few years. Well I don't know that but I predict that it will happen.
I decided to slowly build myself a diverse portfolio of non meme coins with a majority of the weight being in btc and eth.

So the question is what advice and you give me (a crypto noob) on things to learn/avoid to make money in the long run.
Down here is my current "portfolio". (Yeah ik it's not that much, I don't want to invest money I can't loose.

Look at charts, learn technical chart analysis, watch yt chanels, don’t tell anybody, dyor, read, what others think(Reddit, yt, twitter) don’t take it too seriously!
Invest in your business.

 

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[AceVentures]

Prominent thought leader Balaji predicting $1M/BTC over the next 90 days as the USD apparently loses hegemony and spirals into hyperinflation (lol?)

BTC up 36% over the last week.

Is BTC fulfilling it's prophecy as the debt bubble collapses? Or does this recent pump serve as exit liquidity before an impending deflationary cycle with the US weaponizing the USD?

Topics to explore:
- BTC as a hedge against hyperinflation
- Multi-polar world, USD hegemony, and the role of BTC
- The nature of risk assets vs BTC
- Inflation vs Deflation
- Federal Reserve saving financial institutions vs saving USD hegemon status
- The fate of altcoins vs the rise of BTC

Discuss...

 

[Subsonic]

Prominent thought leader Balaji predicting $1M/BTC over the next 90 days as the USD apparently loses hegemony and spirals into hyperinflation (lol?)

BTC up 36% over the last week.

Is BTC fulfilling it's prophecy as the debt bubble collapses? Or does this recent pump serve as exit liquidity before an impending deflationary cycle with the US weaponizing the USD?

Topics to explore:
- BTC as a hedge against hyperinflation
- Multi-polar world, USD hegemony, and the role of BTC
- The nature of risk assets vs BTC
- Inflation vs Deflation
- Federal Reserve saving financial institutions vs saving USD hegemon status
- The fate of altcoins vs the rise of BTC

Discuss...

I personally look at it in a overly simple way: Bitcoin used to be 60k and that was not ridiculus so its gonna go there again. Its also a asset that here to stay, whatever its value will be.
People said btc is overpriced when it was 700. In the end its a complex adaptive system and there is no real way to accuratly predict what will happen. My guess is related to basic economic theory - a economy will generally grow over a long enough time horizon and after a crash usually comes a rise sooner or later.

Again this is coming from a 18 year old with 400€ in crypto so please dont take this for anything else than a display of my thoughts on the matter.