All of the traders that are joining in right now are here for the short term, they want to see VERY big gains in a very short amount of time. That's me saying that I doubt they care for the long term, that means that they're going to sell once Bitcoin hits a certain price point for them (be it to capitalize on their gains, or to limit their losses)
I know how some can see the 21m volume point as something to look forward to, but I highly doubt it's going to help. Think about it. All of the fees are going to be created from the people and that's going to be a pretty penny if the miners get their way. With that said, I can't see people wanting to get into using Bitcoin if the FEES are insanely high.
We'll see I guess.
Fees are high, that's for sure now. But if we compare it to the situtation was a few years ago, when bitcoin was below $1,000, the fees are nearly the same, if you nominate them in bitcoin. You can say that nowdays you have to pay over 100 sat/B fee (well, over 400 sat/B for priority) which is a really huge sum of money in USD, depending on a transaction, it can reach $20 or so. Let's say we are at $10,000 (just to calculate a bit easier). This fee is the same in bitcoin, but when bitcoin price was at $1,000 the same fee was just $2 in USD. So if you want to compare it, don't forget about the effect of the price of bitcoin. |
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Love it. All the FUD before the future trading started. BTC will drop in price etc etc blah blah.
What happened. The trading platforms website crashed in minutes and Bitcoin rose 10% in five minutes.
Go home Wall Street boys. You can`t tame Mr Bitcoin.
Many, myself included, were warning that now the whales have the ability to hedge their coins and lock in their sale price if they try to dump enormous numbers on the exchanges. It would likely cause the prices on the exchanges to crash but they wouldn't lose anything if they sold enough short futures contracts. As said above, people weren't saying that these events would happen on the 1st or 2nd day...but they probably will happen sooner or later. Why to crash the price in a bloody day, why to pour all their coins on the market, why not just sell it in some little fractions and keep the average sell price higher rather than selling a huge pile at higher price in the beginning but after a surge in the price they won't be able to sell their remaining coins on a good price... also, to short someting is risky enough especially in bull trend... I know that the trend won't last forever but why to start shorting from a lower price instead of letting the price gain more and start it from a higher level? I will be really corious in the coming days |
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This is not FUD...it's FACT.
Err, you seem to be getting some terms confused here. Fact: the cost of getting BTC transactions confirmed quickly has risen dramatically since two years ago. Subjective: this will result in a drop in the BTC/fiat exchange rate.
Speculators can be extremely irrational. A lot of the time, the price doesn't follow any kind of meaningful events like that. Err..I'm actually just paraphrasing what he said. Make a phone call to MIT and complain to him if you think he's full of crap. What will happen is common sense....if you want to call it subjective, it doesn't bother me one bit. Fact: the forum has been flooded with complaints and threads on this issue over the past few days as people are making transactions at these price levels...and are extremely disturbed at their experience. Is there any chance that the implementation if the Lightning Network will resolve this whole fee issue (and also the time requirement of the small transactions)? I understand that the LN will not fundamentally lower the on chain transactions' fee level (just a bit) but if you have the possibility to use the LN transactions to spend (or transfer) your bitcoins, and it confirms in some seconds, people will be OK with bitcoin and they won't search for any other alts to use for daily purposes. It just needs some luck to have LN in the house before your above metioned concerns becomes real. I hope that LN will lower the fees of the micro transactions and we could buy coffee with bitcoin in the near future |
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Why do you trade and calculate your profit in dollars?? You can also trade with the purpose of getting a profit in Bitcoin instead of fiat currency.
Try and focus on increasing the amount of Bitcoin you have by trading if you're good at it.
You should have no problem increasing your Bitcoin principal at the current volatility.
Anyone who is not good at trading should just hold, maybe do some trades at large price movements.
What is the difference between trading in fiat or bitcoin? I mean I know if you trade for fiat you wath the crypto/fiat exchange rate instead of the alt/BTC exchange rate. When you trade fiat, you can also increase your bitcoin when you buy back at cheaper price at the end. If you trade the alt/BTC pair, you can increase your bitcoin when the alt's price raise and at the end you exchange it back to bitcoin. What is the difference between the two method? (I'm not a trader, but I was thinking about this for some time now). |
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I thought it will be the opposite, because they will manipulate the Bitcoin price to gain from the Bitcoin Futures, but it was structured in such a way to prevent that. They work within different margins and they also built safeguards into the system to shutdown trades, once these thresholds are reached. No amount of price manipulation can benefit them.  I also think that they will increase the volatility, just for fun... This is a non-regulated playground for them, so they can do anything they want in this sandbox... Nobody will stop them, so the price will go even higher or lower than before... At first, they can win on price increase, because now the average joes will also buy a portion of bitcoin, and after the price has raised really high, they can start to short it and the newcomers and the weak hands will sell out and they can buy again after the shorting period... I hope it won't happen... |
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Amazon is a major globlist organisation, and they want to create their own world currency. In my opinion, the only reason that Amazon would accept Bitcoin is to suck the coins out of the market.
In order to just gather the coins, they would need too much money and if they just store the bitcoins after, they will have that money out of their cash-flow, so if they are liquid enough, that will not be a problem, but I doubt it... It's an understandable idea that they want their own currency and in order to support it they will accept bitcoin in order to make bitcoin's situation harder but it's not realistic. It's more possible that they will try to minimize the risk of the volatile price, but I haven't read anywhere that they're just thinking about bitcoin as an acceptable payment type. |
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What is an accelerator and can I put my other transactions there too?
Secondly, is it just me or is everyones transactions getting 4-5 days late? This never happened to me.
79 sat/B is not a decent fee these days... so you can expext some more time to wait. Or, you can try to accelerate the transaction yourself, try the viabtc accelerator: https://pool.viabtc.com/tools/txaccelerator/Make sure that you try it at full hours (like 10:00 or 17:00) because they accelerate only the first 100 transactions sent to them in every hour, it usually takes 1-2 seconds to fill the free spots. So be lucky and try it every hour unless you have your transaction included in the acceleration pool. If you are lucky your transaction will be confirmed in an hour maximum (usually) after the acceleration. |
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I think I didn't make it clear. I'm talking about actual US Dollars withdraw.
So was I. Let me try and make it clearer. An exchange has a lovely platform. Two traders go on the website. Trader A deposits $1000 in fiat money to the exchange, and the exchange credits this money to their account. Trader B deposits $1000 worth of Bitcoin to the exchange. Now, Person B decides to sell this $1000 in Bitcoin. At the same time, Trader A wants to buy $1000 in Bitcoin. So they click on a button on the exchange, and the exchange changes the numbers on the account - now Trader A has $1000 in Bitcoin and Trader B has $1000 in fiat money. So the exchange is taking absolutely no risk by providing this service. They had $1000 in fiat money and $1000 in Bitcoin - all they had to do was change who had the right to withdraw that money from their exchange. This is absolutely clear. In order to simplify a bit more: An exchange is a website with a database and a connected UI. (really simplified). Let's say this is a little exchange and it offers only USD and BTC to trade. It means that the exchange has to have an USD checking account at any bank that offers account keeping in USD. Besides the USD bank account, the exchange needs to have at least a bitcoin wallet to store the bitcoins. Users deposits their USD and BTC to the account and to the wallet. Exchange needs only a very good UI and a backend that manages the trades and updates the database. In the database the exchange stores the USD amounts per person based on the trade history, also the same stands for the BTC amount for the people. They have a large sum of USD on that checking account and if someone wants to withdraw, they just start a wire transfer. Also, if someone wants to withdraw bitcoin, they start a transaction on the blockchain from their wallet and send the bitcoins to the person's wallet. |
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With exchange-traded bitcoin futures almost here, cryptocurrencies are becoming popular mainstream investment instruments in the eyes of many. As such, every trading and investing service must give its clients exposure to bitcoin in order to stay relevant. The latest company to jump on the bandwagon is Yahoo, offering its users new ways to track their cryptfolios.
Good idea to have a place where you can have an overview about your invesment in cryptos. There are already some apps and websites where you can track it, but if it's integrated into a well known service provider's toolpack, it can be comfortable for the average users. On the other hand, this has only one advantage compared to an excel sheet, that it can update the exhange rates on demand and automatically. If you can manage to code into your excel sheet to grab the exchange rate from any of the popular exhanges, this above mentioned advantage vanishes |
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The rate at which bitcoin is surging high is alarming, each day there is a thousand increase.Am not sure if bitcoin has any regulation.If anything can make it take a step back a little, it will most likely be a fundamental analysis. Although i started crypto late but i dont think its too late to reap benefit from it.
what are your thought about the bitcoin on the long run?
It is not possible for anyone to regulate Bitcoin when there is a large amount of people using the coin. There's no need to regulate Bitcoin itself or the blockchain system itself. It's enough now to regulate the end points of the bitcoin ecosystem where the bitcoins are exhanged into fiat money (e.g. exhanges, merchants, bitcoin payment processors, bitcoin debit card issuers etc...) For now, you can hardly use your bitcoins when you don't want to get fiat involved in the transaction. Of course, you can buy some things, usually online stuff or some kind of electronic devices (PCs, phones, etc...) but you can't use your bitcoins at the groceries shops. So if you want to use your bitcoins for everyday stuff, you will fall for the regulation sooner or later. On the long run, there's a chance that people will use bitcoin for everyday intrapersonal transactions, and in that case regulations will not necessarily apply. |
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Hi Guys!
I am looking for a tool, lets call it "dead-man-switch".
Lets say I die, all my funds would be gone. 🤔
=> everyones dead persons wallet would be gone forever.
Is there a tool to store the private keys (or other credentials), which get released to predefined persons after you die?
You have to login to this tool once a week to signal you are alive.
If its a 3rd-party tool, then there would be a trust issue if they just store the keys in a database.
Have you heard about something like this?
Don't use a 3rd party to store your private keys for you or for anyone you want to have it after. Simplest thing is really that you have to rent a safe box at a bank and put the private key and some detailed instructions in a closed envelope into it. Lock it, and in your will mention something about the safe box and your family will have a look surely. I won't recommend a hardware wallet for this long period of time, becase who knows that after several years or decades what kind of PCs or any other system will we use, so the easiest is paper and printer... |
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Everyone has a different limit that makes it uncomfortable to lose the coins. $500 is way too much e.g. for me to risk. Hardware wallets are mainly for security purposes. If you want to spend as well, not only hold, paper wallet is less comfortable and less easy to use compared to hardware wallet. Also, paper wallet needs a clean PC (free from viruses and malware) but hardware wallet deals with this as well, becasue you don't have to reveal your private key any time.
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I have the following situation : I use a Ledger Nano s. Today I purchased bitcoin and the nano S displayed my account number that I used to receive my bitcoin. I just now looked backed into my wallet and I notice that the address is different. It does mention my same balance though. How is this possible ?
This is something for a little bit of better privacy. If you use every receiving address just once, it's harder to find the links between accounts and account holders (harder but not impossible). A lot of wallet has implemented this kind of thing, they use an address just once and next time they will give you a brand new address, which is also connected to the same wallet, so they show exactly the same balance. |
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I'm new to all this.
Purchased a fraction of a bitcoin a couple of weeks ago through bittylicious
I have it stored in a wallet at anybits.com
Now I understand that when a fork comes along you usually automatically get some of the new currency.
However, anybits have not yet decided if they will support the new currencies.
So presumably that means I wouldn't get the new coins?
If that's the case should I move my coins to a different wallet?
Choose a wallet that provides you the private key and don't use an online wallet (only if they offer the support for the new coins). Web wallets don't let you know the private key, so if anything unexpected happens you will be without your coins. Web wallets are a bit like exhcanges, if the sitution goes wrong, they just close and you will have to say goodbye to your coins. |
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Should I be happy for loosing my BTCs for hackers or should I be happy that I dont own anything now or should I be happy for getting enough sleep? END of the day what matters is timely sleep,happy talks,dont stress out guys  Happy to see the BTC soaring,but are you getting enough sleep since a week ?If you are putting a limit order fine,if you are not how many times do you run to your computer to check on the rates Chill guys,I know its Human tendency to give a try and earn but take care of yourselves GoodLuck to all Bitcoiners I'm not trading so I have a good sleep I'm checking the price twice a day, in the morning and in the evening, and I realize that in most cases it goes up, so why to worry My only problem is the mempool, but Lightning Network is on it's way now, so we just need to stand still and it will be OK as well... So good night to everyone (if you don't live in a different time zone and if it's not 08:00 AM yet at your place ) |
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The lightning fork I'm most interested in so far. The others I just see as free cash to change in
Don't confuse the Bitcoin lightning fork with the lightning network solution on the original bitcoin blockchain. These forks will produce alts and they will slowly fade away. Other stronger alts are on the way down because now everybody buys bitcoin and if needed sells the alts to jump on this train. The price is rising sharply so these forks are not timed very well... but we'll see in mid Dec. |
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Hi,
I am afraid I know relatively little about Bitcoin, but it is something that I would like to know more about. While I appreciate that I have largely "missed the bus", I feel it is something still worth learning about and possibly investing in for the long term.
Could anyone kindly give me any advice on how to get started with learning about Bitcoin please?
Thank you.
I guess you just need to spend some time reading reading in this bitcointalk forum. much knowledge you can get. and I think knowledge is something very important in the crypto world. I agreed with you. Every one of us here starts by reading, researching and exploring bitcoin. You need to have a sufficient knowledge about bitcoin first before you start investing bitcoins. For now, just explore this thread, read some topics that you think may help you and ask some members for help. Thats the first thing I did when I was a newbie in bitcoin. Try bitcoin as well. Open a wallet buy a little bit of bitcoin (for $15-$20) and try to send it to another wallet. That will teach you how to use wallets, how to transfer, what are the important things that you need to know if you want to do a successful transaction (especially in situations like this one today, when the mempool is full again and you have to use 400 sat/B fees to create a transaction if you want a confirmation in an hour time...) So don't worry about it, you will learn from your own experience, but that's better than 2-3 days of reading... |
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Many have long raised the question about the technological aging of the original bitcoin. One of his serious shortcomings was always called slow transactions. If now the number of suspended transactions is 200,000, this is already a serious problem. Bitcoin is programmed to conduct no more than seven transactions per second around the world. With the increase in demand for it, the number of transactions is constantly increasing, but the capacity of bitkoyn remains too small. Apparently, people in the future will switch to cashmoney and other clones that have separated from him recently, which do not have such problems. If the original bitcoin does not solve these problems in the near future, he will slowly lose his place as the leader of the crypto currency.
Guess what? Bitcoin is meant for the smarter people, a majority of bitcoin users are well educated about bitcoin, it structure and it's function with how it works. I feel sorry for those who don't realize the changing financial trends of the world even now. Bitcoin is not an ordinary currency but it is the precious one and precious things need a little patience to be achieved. The segwit2X and hardfork were for the purpose to make the block size bigger so, to speed up transactions. Sooner or later it will be functional to resolve the transaction confirmation issue. So, don't worry and just be happy  My fear is always the uneducated user... I remember when I have started to read about bitcoin and started to do my first transactions, I was a total noob... So as long as the newcomers are just want to use bitcoin like the other everyday things in life (they don't read the user manual, they don't ask other how to do things, just start to do and complain about the problems) there will be a lot of topic like this. Mempool started to gather yesterday evening, now it looks really bad but it's just the current situation, it will be OK a bit later. Solutions: Patience or high fees. In the end, the transactions will be confirmed, anyway, it's just a question of time. |
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Hi! I am coming back to this silly topic again, though there are many instructions out there. I just want to get some clarity. I have some fraction of btc on exchanges. I am not paranoid about printer being hacked while printing or printer paper being lost. All I need to know is:- What and how (exactly? which reliable software?) can I print all needed data, which will correspond to my bitcoins, so that I can permanently put the paper in my drawer. From what I understood, I only need to create two set of keys (private and public) and a transaction id (?) where I will transfer all my existing bitcoins from exchanges. So does it mean, that I only need to print these three set of (strings) data ? Thanks. Cheers ) Just a word of advice for a paper wallet: After you have printed your wallet, laminate the paper. It will be sunproof, dustproof, waterproof, etc... It's a little extra cost to rent a tool to laminate (or you can buy it, and use it afterwards), or ask someone to laminate it, in that case don't print a header that it's a bitcoin private key... Always print several (at least 2) copies of the private key and store it in different locations in safe places. Transaction ID is totally different from the keys, you don't have to bother with it, it's just an unique identifier of each transaction, so it's not really important as soon as the transaction itself has been confirmed. |
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What wallets can I use to store bitcoin on ledger Nano except the ledger app one?
Like ethereum can be stored using myetherwallet.
You can use the ledger chrome extension wallet, that's the usual way. You can use your ledger nano S with your mycelium android wallet with a micro USB - micro USB OTG cable but be aware: Mycelium only can handle the Legacy address of Ledger Nano S bitcoin wallet, so if you send your coins to your Segwit address, you will see an empty wallet on Mycelium... There are some other mobile wallets that can be used with Ledger, but the above mentioned two are the most common. |
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