Lol comical.

Ruja filled your head with lies, I'm very sorry! I hope you did not lose too much.

Honestly I think that's a great idea and have often wondered why we haven't started yet. I think it's a much bigger barrier for the average joe to have to put up $2000 to get 1 btc (which in their head makes them feel like small fish, not worth the time, missed the boat, etc) than volatility will ever be.

If we can get fees sorted out, which it looks like we are finally closing in on a solution, I could see trading in smaller increments as a giant boon for Bitcoin. Think of it like when Google hit's $1000 bucks then they stock split 1:10 in order to make the share price $100 again. It makes Google once again more accessible to the average joe.

We all remember as kids preferring ten $1 bills as opposed to one $10 bill. More is always better (even if it isn't actually more lol).

Nice name btw, cheers.

I agree that volatility is bad for a currency used to transact. As Dinofelis said, cash with a finite supply is inheritly volatile. Fiat is able to control giant swings with policy changes & fresh currency, this is something that bitcoin seeks to avoid. We can't add mechanisms for price control and then in the same breath call Bitcoin a "freely traded market", which imo is one of the more appetizing features of BTC.

I think the adage applies here "don't invest what you aren't willing to lose".

That being said, I definitely think it's a mistake to dislike volatility (speaking being we are all here for profit). It's more the natural progression of a trend, look how slow price started rising from $200 and how volatility (ups & downs) progressively got bigger and bigger as price rises. This is something we see repeat in nearly every market. A good example is a 10 year graph of Amazon/Google, look how slow it started and how it's basically going straight up now.

It's more about people feeling they are on the "sidelines" and buying in so they don't "miss out". Little do they realize, they were buying at the top before a very large correction. There is a reason most profitable traders on Wallstreet are contrarians. The goal is to use human psychology against your peers.

Bitcoin to me is a vehicle for speculation now a days, nothing more. If we want to talk global currencies, we got to start USING them as global currencies. Right now it's just a hoarding game.

As most people say "smart money buys bitcoins, dumb money sells bitcoins". That's a self-fulfilling prophecy for continually rising prices. That's NOT how a currency is supposed to be used, if anything we use Bitcoin more like Gold than a currency. It's a really volatile store of value (oxymoron lol)

PS - as a trader, I love the volatility, as I'm sure many of my peers do. Bitcoin has made me some of the greatest pecentage gains over the years.

I've wondered this as well, from my understanding they did blacklist all of the well known exchange/ico addresses... I always wanted to ask what's stopping these people from movinvg their coins to different addresses? Of course, if people have a loophole to take advantage of, they will.

I suspect there is a lack of title/content pairing. X[)

Well things are starting to rebuild, I doubt you will be killed when it's such a small marketcap anyways. Lots of opportunity if things play out right. Keep holding with conviction man!

Idk whose the scammer, but you both are being pretty gay right now.

$1

There was an update with the Siacoin wallet, both Shapeshift & Polo were down for those reasons from my understanding.

After you buy bitcoin, send it to an exchange where the spread isn't 15% lol.

You can pretty much use any exchange to trade. (or better yet, store your coins offline and wait for them to rise)

Once you are ready to cash out back to fiat, move the bitcoins back to an exchange down under and use that to withdraw your AUD.

Also, profitable traders tend to trade less, not more. Buy it, hold it with conviction. Watch the price, you will notice when it's time to sell...

Use the 5 metrics of analysis to help you:
#1: Price: the first and foremost important. Price will flatten out, you will see basically a battle between buyers and sellers right before the initial crash like 70% of the time in my experience.

#2: Volume: You will see extremely heavy volume as buyers and sellers battle it out.

#3: Momentum: This is what shows you what direction the momentum is going. I like to use the indicator "MACD" for this, you can tell as price rises, the momentum behind the price starts to fade. When momentum starts to fade, it's time to start looking for other signs of trend change.

#4: Volatility: Volatility is an important metric to pay attention to. You will notice how prices started out slow and as we got higher and higher price starts to move quicker and quicker. After we broke new highs, Volatility has been extreme and we've seen extremely large movements both up and down. Volatility is not something to be afraid of, you just need to be aware that when all these signs align with eachother (price moves up, heavy volume with waining momentum, extreme volatility) that it's trying to tell you something.

#5: Sentiment: This one is important too. this is what I look on the forums for, we saw some great sentiment indicators last week when bitcoin was around 2500-2700, everyone was posting "Bitcoin will be 3k soon" "bitcoin to the moon" "it's unstoppable" "bitcoin should have a 1 trillion market cap if it's really a global reserve currency, that means 1 bitcoin could be worth more than 100k!!!".

When you see people talking like above, its a sign that enthusiasm has reached a irrational level of exhuberence and that is a sign that we are right on the edge of a correction. I use heavy sentiment (if 90% of a group agrees in one direction = heavy sentiment) in one direction as a contrarian indicator, if they are saying it's going to the moon, beware, if they are saying it's going to crash, be greedy. lol.

Feel free to pm me if you have questions. Best of luck with your trading bro

PS - I forgot to add, do your analysis on weekly & daily charts. Those are the ones that matter. As signs align and it becomes obvious we are getting closer to an exit, start using shorter term graphs to watch for the top. Think of it as periods of time, if your analysis doesn't cover the whole period you are interested in, you aren't getting the full picture.

Are you rich yet?

Live by the Golos, Die by the Golos!

Also look up "Virtapay" which was where this scam coin got started. The owner swapped everyone from Virtapay to a Cryptocurrency called Virtacoin (which has now been upgraded to the presitigious (sarcasm) VirtacoinPlus!!)

You can thank me later for avoiding this one

Google "Virtapay Scam" for more info

Welcome to the land of crypto, where penny stocks look boring. You come for profits and stay for the Pump & Dump shenanigans..

Don't worry, just forget about your btc for a few weeks, you can thank us later.

Even with the crashing, volume still is green on the weekly and even daily charts, we have rising momentum and zero catalyst for a crash. I do think people are slightly concerned about a hard fork (as am I). Looking at the sentiment on the forum, I only see noobs/jr's posting about the "impending doom" where as everyone else is just sitting back and watching the show. This is another good sign.

It was extremely unlikely for bitcoin to continue rising, it started at like $1900 and rose nearly $800 in a single week, much of the move was in 3 days, which is unsustainable.

You will learn to like corrections, corrections are a necessary evil. After corrections comes profits. The key is to know the difference between a correction and a trend reversal.

It's kind of weird to me the people saying if you lend on Poloniex you need 3x collatoral.

It doesn't work like that on Polo/bitfinex, you lend funds which people use to open margin trades (a trade that is separate from an exchange trade, it can only be opened or closed, you can't withdraw the funds involved in this trade until the trade is closed and the loaned btc for margin trading has moved back to the lender). Your trust is not in the actual trader/user but instead in the exchanges lending liquidation system & security practices.

I'm not going to lie, if I was going to lend I'd do it on an exchange. It's much different than loaning to rando's on the forum.

Loaning to randos on the forum = suicide

loaning to unregulated exchange users and trusting the exchange with your money = self mutilation (you must enjoy pain to proceed)

Either way you'll never see me participating I don't care how good the interest is. The risk to reward doesn't make sense...

Typical btc loan is about 0.05% to 0.1% a day, during bubbles like now it tends to go higher (currently @ 0.08%. Let's just make it simple and go with 0.1% a year annualized, which is around 36.5% profit a year if you don't miss a single day).

Is it worth it to you to risk 1 btc with a decent probability of losing it within 1 year to exchange risk (shuts down, exit scam, hack, personal account hacked etc etc) for 0.365 btc at the end?

For me, it's not. Everyone is different though.

PS - yes 36.5% is a dreamy return in the traditional market. You don't have to take insane amounts of risk to receive interest in a traditional market, in fact most bonds are federally insured meaning the risk is basically non-existant unless you feel the government is about to fail. So comparing  government/corporate issued bonds/stocks to a unregulated altcoin exchange is a mute point. Their profiles are completely different.

If your exchange fails, you will be stuck making claims in courts and by the time it all comes together the owner of said exchange will be livin the life sippin' martini's and snorting coke in Belize with 3 hookers around them, all on your dime.

The funny thing is, you didn't have to hold them & shill for years, all you had to do was buy nearly any coin on polo after Dash/ETH started rising and you would've made money.

It's hard to say I told you so when nearly every coin is up 500%, a monkey with a dart board would've made at least 400% this time around.

The thing is though difficulty is never "constant" and is always rising. Ethereum mining looks really juicey right now, but only at current valuations & current difficulty. Imagine hypothetically that in 6 months (180 days) when the difficulty is @ 50% higher than it is now and Eth is 50% lower in value, it's going to cut into the profits majorly.

http://www.coinwarz.com/difficulty-charts/ethereum-difficulty-chart

This reminds me of in 2013 when all the asic miners on ebay started doubling and tripling in price because BTC mining suddenly became profitable again. Alot of people seem to forget that there were periods in 2012 & 2014 where miners were mining speculatively, it was basically breakeven/small profit but most of them were mining coins to hold for the future.

The community always says you are much better just buying and holding if your plan is to hold the Ethereum you make. You will make much more profit from taking the cash you spend on contracts and buying Ethereum for the future, just preferrably don't buy in the middle of one of the largest crypto-bubbles in crypto's short history though, you should've been buying last year

You should definitely blur out the seed words, but looking at all the addresses provided in the screenies, all of the addys are empty. In the last screenshot, there is a message that says 'it has been over a month since I've heard from you dev", there has been alot of time with those seed words out there for someone to come along and swipe them.

I truly hope your loss wasn't too big op, I'm terribly sorry this happened! I'm still unsure what happened tbh. The only thing I can thik is the W3p address has blanks for balance, maybe it's in there?

But but, why bring your poor father down with you?

But how big is the bubble? - No one knows, though as they say "History doesn't repeat, but it does rhyme". I think that each bubble will get smaller and smaller than the last one, simply because it takes more money with each pump to get it to higher and higher highs. If I had to guess, I'd say we are targeting 5k / btc, but don't listen to that at all. Listen to price & volume. You will know when it's time to sell, btc will spike a kagillion dollars over night, everyone will be talking about "1m for 1 btc" and how it's "going to the moon", you will see price action flatten out as buyers & sellers fight for dominance as well as wild volume fluctuations as people buy and sell tons of coins due to being unsure of the next move. It's very true that the exit is way more important than the entry.

I'm seeing alot of these symptoms right now tbh, bitcoin has risen over $400 in 2 days, people are talking about 1m per bitcoin and how it's going to the moon, all that's left if the inevitable flat trade w/ heavy volume and then the next correction. This pattern repeats in both short term and long term (a bunch of small fractal patterns add up to 1 medium fractal pattern, etc). I do not believe this correction will be "the big one", I have confidence we are just getting started. Expect the next correction to move 50% though lol, it will be a doosey. I already am prepared and know I will be holding through it.

what will be the consequences after it pops? - Prices will go back down, settling more than likely (unless there's some catalyst) higher than it's previous bottom price of 250-300. Alts will follow the same path. (when prices do finally settle, that's the best time to buy and hold for the next rise)

Remember, in 2013, this exact same thing happened. First btc started rising, then ltc took off, then everyone got all excited and started buying EVERYTHING on btc-e lol. Novacoin was like $50 a piece and it's literally a scam coin. Alot of coins took off because of China, i distinctly remember a youtube video about a guy that went "all in on primecoin" right at the top and was saying on video "I'm going to be a primecoin millionaire", I then proceeded to watch primecoin crash for years after that haha. Don't get caught up in the exhuberence. Protect your profits, you'll thank us later.

Good coins/Bad coins all fell with eachother, much like how now the rising tide of Bitcoin has caused nearly every altcoin to rise in value. It rises with the rising tide, and falls with a falling tide, in unison.

You definitely don't want to hold through the crash lol, you'd be better off selling and buying back when it drops.