I am planning to sell all of my bitcoin and segwit following the upcoming fork. Judging by the last fork, bitcoin lost 200 dollars within 9 minutes and then carried on going down before rising again.
With regards to selling, GDAX have stated that all transactions will be frozen until they are certain that it is safe. This means that we don't know if we will be able to sell within those 9 minutes right? Considering that segwit will more than likely fall too, what is the best option?
Is it worth the risk just to get free segwit or should I just take my bitcoin out now and wait for the fork to happen before buying bitcoin when it is cheaper? The other issue is that making a 'limit sell' (to avoid fees) will surely be virtually impossible during the minutes following the fork considering the huge price fluctuation? So would a market sell be better (paying the fee)?
What are your thoughts?
There is risk for every hard fork. Just like Aug. 1 fork, those who are in the rush of claiming free Bitcoin Cash instead lost their bitcoin because a lot them didn't know how to claim it and scammers take advantage of them. So better not to rush to get this free coins but instead wait till everything is clear before claiming it. Although the price will have significantly decrease then, but its better to be safe than sorry. So just hold your coins and wait how everything pans out. |
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What is this Hardfork? Why is everyone afraid of it? Why do I hear people saying that we should sell out btc before fork?
Hard fork is a upgrade to the current bitcoin protocol. Some says to improved its capacity from 1 MB to 2 MB if I'm not mistaken. Everyone is afraid because we don't know if this implementation will be successful because of changes to the bitcoin network. So there will be 2 bitcoin blockchains, one that uses 1 MB and the other one the new 2 MB. I don't think we need to sell out our btc because you will get free coins once the segwit2x is activation. If you have 1 btc then you will also have 1 bt2x or whatever they call it. |
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Recently there is no supermarket that accepts bitcoin.But if you want to buy any product with bitcoin it is possible.Because some product only using the bitcoin and most of the people what he need that product only purchasing. But in future it will be use the bitcoin in all product and bitcoin become growth in future. As it prices is increases in all time it give more opportunistic for growth your future life and if accept the bitcoin in super market it will use full to the purchase the product.
As of this days, many country didn't yet implemented the bitcoin transaction as a way of paying like in the supermarket. Using bitcoin can buy what we want but we have to convert it to fiats as our own currency since it never been implemented here in my country . I believed someday that bitcoin will be used to make each and everyone of us comfortable. Also by having a bitcoin, is more advantage due to its value is increasing and a good profit in the future. Yes, bitcoin as payment method has not been universally recognized, so I don't see any supermarkets accepting it as of now. But I'm not that sad, because we really need one to set precedence. Maybe in the future, when bitcoin is already mainstream and adopted globally we may see that supermarket will begin to accept bitcoin as payments. |
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My own strategy was simple. And i believe most of trader use the same. While Bitcoin was in peak price and seems to get dump, Convert your Bitcoin to altcoin with a good marketcap like Ethereum, Litecoin, Dash, Ethereum classic. I wouldn't suggest to convert your bitcoin into bitcoin cash, cause it seem follow the bitcoin price movements. After the bitcoin seems to rise again, you should convert your altcoin aset, back to bitcoin, and sure you'll see that your bitcoin amount was increase. If You success with this, it will be better than just hold it long term.
Yes it's better to trade altcoins now than to hold it because there are many times that Bitcoin pumps that encourage the investors from the other altcoins to move their funds into Bitcoin because Bitcoin become profitable now than altcoins and it is good to join the flow of the market. Investing and trading into altcoin is very risky because there are not that much people who are known of altcoin the only know coin is bitcoin so go for it, it gives you surety of profit and it will never let down its investor whereas market of altcoin is down and it will take a lot of time to rise whereas bitcoin is moving toward its peak so go for it and earn a lot and don’t invest into altcoin because their popularity is null. On the contrary, there are lot of altcoin traders here so I don't know where you get the idea that there are not much people who are trading altcoins. But I have to agree with you saying that bitcoin is a better investment as compare to altcoins because the price of bitcoin is exponentially growing but some altcoins just died naturally. And most altcoins except for the top 5-10 are just purely for Pump and Dump. |
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I'm afraid not for bitcoin but for them rather because they see things differently as we sees them. They say there is a risk, but does they think that there is no things existing without a risk. Risks are nothing compared to success. And if bitcoin can bring success to their community then why would you think for risks. I guess they are really against on bitcoin and they're just making some excuses. Indonesian are doing wrong to themselves they are only seeing toward negativity but not toward the brighter side still improvements are under process and their concern will be sorted out but it will be late at that time, bitcoin is the leading way toward the development and progress and this coin has capability to give boost to the economy as well and banning it means saying goodbye to development and progress. In our own perspective, Indonesian ban is very wrong and they have stated the obvious that many Indonesians now are into bitcoin and the government are really fell threaten by it. If the government will just look at the bright side let say for remittance purpose, we all know that they are a lot of Indonesians working abroad, whether in shipping or factory worker or even domestic helpers, bitcoin being use as remittance will bring millions of dollars in the Indonesian economy. Unfortunately they didn't see this kind of help to them. They only see the other side, which is the negative impact of bitcoin. |
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You could wait a little bit that ETH falls down. I would then buy some eth because we know that eth has the potenital to go over 1k dollars. Most of the people are already thinking like this.
It also got very good support for a altcoin. Blockchain have added this coin to their wallet so it will for sure not fall down easily.
I agree, just wait till it goes to like $250-$280. The price today is above $300 so it looks like those who have cash out or sold bitcoin last 24 hours is getting back to altcoins specially ETH. This coin has a really good support from all of us because the price didn't go down to sub $100 specially during the Chinese banning of ICO. I really think that ETH will go down hard but it didn't, and now the price is stable around $300. |
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Now a days all alt coin markets has been dumping and dumping without any simple pump for the btc price increasing.So just i want to know that can bitcoin destroy the maximum type of alt coins market?
It won't destroy altcoins. The bleeding that we are seeing in altcoin is due to the fact the altcoin traders are going into bitcoin scene because of the anticipation of segwit2x which they can get free money out of it. But once the looming fork is completed, there no way that they will stay on bitcoin. They will of course goes back to altcoin and the market will see all green again. So bitcoin won't kill altcoin, this is just a temporary hiccups for the altcoin ecosystem. |
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I have joined some Telegram before but sadly I can't say because most of them just died down after several months. But it looks like you are very enthusiast putting one so I think I will join that group later. But I'm still checking other groups as well and see how the feedback goes. Goodluck to your new group and hope you can have many more members to come. |
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How do you measure altcoin value? Do you measure it in terms of bitcoin, or in terms of USD? Which is more important to you?
Asking this because, one can have huge profit in terms of USD in alts and at the same time, a huge loss in terms of bitcoin.
So which one is it for you? Especially in trading of course.
Personally, I measure it in terms of bitcoins. I don't know I guess I can easily convert it to USD in my mind if I want to. Its gonna its gonna be easy for me to just used bitcoin. And of course we are trading bitcoin and altcoins so it is much better if we just do it on crypto currency conversion and not to fiat such as USD and EURO. |
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That's insane. But yeah, that just means demand is especially high there. It's really no surprise that the price is surging. What is actually surprising, is their citizens are using Bitcoin as a storage of value. Let's face it, USD and gold are much safer, and much more stable options. It's interesting how a large number of them are flocking to Bitcoins when they have other options.
People have always said that Bitcoins are an excellent storage of value, and we're currently seeing it in action. There's no way the FUD people can put a negative spin on this. It's clear that Bitcoin is serving as a lifeline for these people who are being failed by their government.
I think the demand was due to its economic crisis and it really looks like they are using bitcoin as store of value. And its only like they are using it as kind of hedge, just like storing oil and water during time of crisis. But I really find it surprising the price go up that high in Zimbabwe trading platform. It is possible to do arbitrage though? Anyways, just like the crisis in Venezuela, bitcoin has become there lifeline and go because of the total breakdown in their nation. |
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https://coinmarketcap.com/currencies/internxt/This seems like the perfect project, highly qualified team, great concept, tiny marketcap. But so far it's got very little attention. The ICO got peanuts and the thread is very quiet. I'm wondering if there is something I'm missing or it's a solid gold opportunity? Thank you for bringing this up. I have also this coins in the back of my mind for several days and I want to buy it because its really quite cheap and I checked the project, looks solid and lot of promise. But I have doubts because just like you it didn't get any attention from our community. I'm thinking because all of them are currently on bitcoin that's why this coin doesn't get enough traction for now. |
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This is what I posted in the other Technical Discussion forum - the "Bitcoin Scalability" thread. 1) Bitcoin will never and can never replace fiat.Hosts of problems: the 21 million limit means super scarcity as compared to national fiat. Singapore's M2 2017 at SGD 600,000 million; means rate of 600,000/20 = SGD 30,000 per 1 BTC. What about with USD. BTC may at most be IMF "reserve currency" as clearance currency between central banks; how does such a status be consistent with a medium of exchange. 2) Bitcoin may only be a medium of speculation.Bitcoin has no practical use. Even if the proposed off-chain Lightning Network works, the natural volatility of bitcoin will never make any system of bitcoin payment feasible. Bitcoin will ensure more wealth transfer from the bottom 99% to the top 1% By definition, the world of speculation means the bottom 95% of small investor will always suffer lost. In the current rally to above USD7500, these 95% will never ultimately be sitting happily with their "profits" riding the wave upwards. By definition, the correction would be a bloody for the 95%. One of the quality needed for a token to be money is that the total supply is evenly distributed among the population. Even though Bill Gates's wealth is into the billions, his personal holding of the cash USD is only an miniscule part of the total US money supply. But Bitcoin is not distributed throughout the world's population and so can never serve as money.
It is a myth that Bitcoin is anyway near being "money". Most bitcoin enthusiasts believe fervently that we have found "the money that...bankers cannot touch" and which is the very answer and antidote for fiat money - it is not. Bitcoin for buy and hold is only self-delusion. The 21 millions of BTC can never be evenly distributed among the 7.6 billion of the worlds population Just this alone will ensure that Bitcoin will never be able to contribute any benefit to the economies of the world. 1) Bitcoin will never and can never replace fiat.
Hosts of problems: the 21 million limit means super scarcity as compared to national fiat. Singapore's M2 2017 at SGD 600,000 million; means rate of 600,000/20 = SGD 30,000 per 1 BTC. What about with USD. BTC may at most be IMF "reserve currency" as clearance currency between central banks; how does such a status be consistent with a medium of exchange.
Gold never be able to be money if that is what used to determine what money is, yet it is kept by central banker all over the world, with such small amount of gold in the world, gold still dictate global economy and central bankers fiat currency dictate economic nightmare, just look at how easy south east asian and south america country attacked economically because of their use of debt based currency, how is that help grow their economy when other country can easily attack and cripple their economy, you are judging bitcoin ability as medium of exchange from fiat currency perspective which is a failed system and should not be considered Gold, silver as well as basket of commodities as rice, wheat, oil, soybean, etc CAN be money as a universal fiat may be issued fully backed by commodity money. But those holding the powers will never allow that. Bitcoin too may be the one-world-money if all the IMF members decide so - replacing all fiats. Will that happen? So in the mean time Bitcoin is only speculation. It is very, very good "buy and hold" provided it is bought AT_THE_RIGHT_PRICE. All here assume Bitcoin price from this USD 7000+ range can only go higher - never lower. Who knows? It is not certain that Bitcoin cannot be replaced; there are many unknows considerations about the blockchain technology. 15 Nov may be a great unexpected surprise. No one can really see what is going to happen in November 15. No one has the crystal ball to predict the exact scenario after the fork. All is assumptions here, because bitcoin is based on pure speculation. But historical data shows that bitcoin can go higher in the future as evident of the price starting this year at less than $1000 and now its $7000. So more people are now believing that bitcoin can really bring good wealth if you are just going to 'buy and hold'. |
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Ethereum is a very decent crypto with strong and active team, outstanding tech and really wide usage. But currently it is affected by scammers in the same proportion as Bitcoin by speculators. Next trend is unclear yet, will their count reduce or just grow and that can change everything. On the other hand I think ETH is undervalued against BTC anyway, their caps should be comparable, so 3x grow looks reasonable and even can occur till the end of year.
I think this is the main issue with ETH, the number of scams involving ETH has gone up a lot and it makes sense since many projects are based on the ETH platform but lately things have gotten out of control, which is not surprising taking into account all the icos we have at the moment, but I think this is one of the biggest things that is holding back ETH at the moment, besides the price is already very high and it is going to be more difficult that the price goes any higher with bitcoin as strong as it is right now. Yes, this may have contribute or somewhat pulling back some investors to pour cash on ETH. Many ICO are scams anyways and they are using ETH for their fund contributions. And when they run off with millions of ETH, they lost traction from the community. And there are numerous hacks involving ETH in the past. I know that this coins has really a good future and some of you guys have pointed out its strength, however when being used in a scam, people think twice in investing on it. |
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I'm using myetherwallet and and Jaxx wallet in combination to store my various altcoins. As advised, just be careful of myetherwallet so that you don't lose your tokens in there. I think you need what to do to make your altcoins safe in there. So far I'm don't have any issues with Jaxx, so I will continue to used it for now.
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The site is legit, not a scam. The main problem is you ll waste days to make anything worth mentioning. Their top payment, if you claim every hour, 24 hours, is something like 3 cents. Are you really ready to work that hard for 3 cents? It s simply not worth of your time.
Agree with you mate that this site is legit but it is not worth it if you only claimjng in their fucet they only gove small amount every roll and little percentage could win their jackpot. But i used their site to play dice game and i am happy playing in that site this is one of my past time but i have a limitation playing in this site because i do not want to be addicted in gambling. Over all review this site is legit and i do not have any problem with this site. I used to claim from that site before I realized that is not worth it anymore. Faucets are good when you are a newbie in the world of bitcoin and you think that you are getting free bitcoin but later you will get the idea that is no longer worth it. So its not really scam its paying ever since its inception. Yes, the dice game is addicting as well, but just like you I don't want to be addicted so I have go on and stop using it long time ago. |
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What about Japanese? someone know the situation in Japan?
No need to question Japan as they have already filled the void that China left. I have friends in Japan and all that they can say is that a lot of store has been accepting bitcoin as payment option so they are moving a step forward but countries like China is taking a step back. If there are big news coming from China I think it will really bring good impact to the ecosystem. However, we still didn't forget what they did earlier. So I guess its gonna be a mix emotions once they go and enter bitcoin market again. |
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many people saying that is not too late for us to buy bitcoin for now and we can buy at any of price without having trouble and i think they are right because if our reason to buy bitcoin is for investment then we don't have to be worried if the price is down. but if we want to search profit by trading bitcoin then i think we need to analyze the price and the trend so we can buy bitcoin in lower price that we want.
What even bothers me is when some people are complaining about bitcoin being too expensive when they could just buy the same amount they could have been able to afford some years ago and then watch it grow. It is not about the quantity of the bitcoin you buy but the value of the quantity you buy increasing in the coming future. Correct. However, casual traders are afraid to lose their money. That's why we always says that we should only invest what you can afford to lose. But it you look closely to those who are complaining months ago that bitcoin is too expensive this and that, they should be earning and watching their investment grow today. But sadly, they have this mental barrier that made them not to buy earlier, now the price is too high and I see that they will have the same excuse once more. |
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I don't have the feeling altcoins are dying at all.
Off course they was impacted in the last few days by bitcoin but they are still there, probably for a long time.
If its dying, but only temporarily because bitcoin market is surging because of the anticipation of segwit2x. In about 2 weeks, altcoin will see a green light. But not right now because all traders are going all in with bitcoin because of the free coins that they will be getting during the segwit2x. After that it will be back to normal to altcoin so no need to worries. On the other hand, its a good buying point because the price of almost all altcoin is cheap. |
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I had been moving mine to a wallet for the fork. But then I'd have to deal with how wallets are going to recognize the forked coins and have to worry about figuring out how to split the coins and whatnot. Saw Coinbase said they are planning to have the B2X coins available 24 hours after the fork, so now I'm just holding all my coins on Coinbase for the fork as that just seems like the easiest solution. Once the dust has settled and the danger has passed and we know which chain is the main chain I'll sell the minority chain and throw all my Bitcoin in a paper wallet.
How about you guys? Coinbase? Exchanges? Wallet?
I'd prefer my wallet over any exchange, its just a lot safer. Even though there will be a task to do when trying to get the forked coin from the wallet, but I feel it is worth the effort as at least you keep your coins to yourself. I know many people do keep their assets on exchanges, but I just do not feel comfortable with it. Electrum wallet it is for me. Same here. I'm holding my coins in my Electrum wallet because I feel safe with it. I only have a few amounts of an exchange and I don't intend to put my bitcoin in there just to get those airdrops coins during the fork. Would rather wait for a better wallet on how to claim those free coins. I'm not in the rush to get them. Its better to be safe than sorry. This is evident of Aug. 1 when people try to rush only to be scam by those websites or instructions claiming to help them get free money. |
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No investment is small investment, remember? bitcoin was $0.7 cents, if someone bought $10 bitcoin in 2010, now how much it worth? So invest now, and make profit after 5 years  Exactly, it is right thinking, but in that time, when bitcoin was $0.7 cents then people had fear to invest on bitcoin, that's why we missed that chance, even 4 years ago, when i know about bitcoin then also i have fear to invest on bitcoin, but i took risk and invest a little money on it. then my trust build up and then i was ready to take a risk in investment. We can say it today because bitcoin price has really multiplied over the years. But before we didn't know that it is possible. So bitcoin is a good example of how a small investment can really turn out to be profitable later. I think we can said the same with gambling sites investment. You can just invest small in them and just wait for a couple of years and the return should be good, in my opinion. |
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