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bitcoin is not made to beat anything down, or replace anything. it is just there as the additional option for people who don't like the current available broken options that in most cases are in a corrupted economy controlled by the banks and the governments.
other than that, US dollar has been beating itself down without needing help from external sources.
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I think it would be hard to implement a ban on a thing that is hard to trace. Unless you're cashing bitcoins out via personal bank accounts.
it is near impossible to "prevent" people from owning or using bitcoin since it is decentralized and doesn't need any server or something that the government can target and close it down. but they don't have to do that. they just have to create the fear in people to stay away from bitcoin. and this new bill is doing exactly that with its ridiculous punishment of 10 year in prison!!! it simply scares people enough to not go near bitcoin. |
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the trick for timing the market is always to figure out the market trend itself. and then as soon as you figure that out, you have to go with that trend instead of against it. for example in 2018 the dominating trend was downwards and going against it would have meant a lot of losses. and now in 2019 the dominating trend is upwards and going against that will similarly be devastating.
of course that is the big longer term trend not the short term fluctuations which have their own micro trends. but I focus on the bigger picture because it is easier to grasp.
doing some TA is always good but you should never rely on it because it is unreliable as it is and it gets less reliable when you enter a small market like bitcoin.
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in the end it doesn't matter what people guess about bitcoin and the reason why its price is rising and falling at different times. the only thing that matters is that bitcoin is doing its own thing regardless of all this speculation. people can call the rise from $0 to $8000 a 10 year FOMO and it still wouldn't change the fact that price is rising and continues to rise. in other words the real reasons are there and are pulling the price upwards every day whether we hear about them from these speculators or not.
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I seriously doubt that it could ever happen in "every country" because there is just no way that we can see a unified world that everyone agrees on the same thing. you can take any other subject and see how everyone is disagreeing about and bitcoin should not be any different.
all we can say is that majority of countries will have been accepted bitcoin legally in 10 years and only a handful of countries would do otherwise. just as today there are countries that have accepted bitcoin as a legal way of payment, some others are accepting it as a commodity (!!!) and there are even cases of total ban.
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at this point it seems to me as if the Indian government is super scared of bitcoin and what it can do to their corrupted banking system that they control. that is why they are doing the exact opposite of the rest of the world and have been putting more and more restrictions for bitcoin adoption that has been growing at a phenomenal speed in India.
be careful not to fall for the FUD though, as this news (which as was mentioned is not the law yet) is being used as an FUD nowadays all over the internet just like how they said China banned bitcoin for many years.
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like any other digital system, bitcoin ATM machines are also having some flaws. and them being new and even sometimes coming from brand new companies, makes them more susceptible to these flaws. but we can't really consider then unreliable just because they have flaws otherwise we can't rely on anything else in the world either.
the important thing to know is to figure out risks and rewards of each tool that we use and try to use those tools in a way that reduces the risk for example you could use a small amount of money with ATMs instead of a big amount so that if something went wrong you don't get wrecked.
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i wonder if we'll ever find a solution to these problems because i absolutely love the idea.
I don't think there exists any solution to be found because it is going against the design of bitcoin which is secure with proof of work that translates into transactions being sent and included in a block to become irreversible and the owner be the only one having access to the private keys. |
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it is easier if you come from another market to cryptocurrency market as you have the trading experience and then only familiarize yourself with the cryptocurrency market and its manipulations. but if you do it in the other direction as you say, and you had no prior knowledge before starting to trade cryptocurrencies, going to any other market will be very hard because you won't have any real experience that could be used in those market.
is FOREX harder? any market will be hard to make profit from and it will be super hard in the beginning when you first enter it. basically in my experience you have to learn about that particular market first in order to be able to make any profit.
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automated trading should only be done when you have 100% control not give up your control to another "platform" that does it for you. which means in my opinion using the worst bot (that would be a desktop application you run on your computer) is so much better than using these websites not to mention safer.
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I think that Bitcoin (and alts) will see some heavy correction in the next week or so. This is based purely on a historic profile.
I wouldn't mind being wrong on this though :-)
The correction can happen but it will be not as great as before, in 2018. Moreover, after its end, Bitcoin will start running up again. And this time, its speed will be higher than this April and May. the 2018 drop was not exactly a correction. it was a market crash due to bubble burst and that kind of drop (a big 85% drop lasting over a year) only happens because of gigantic bubbles like $20k. right now you can't really expect anything remotely similar to that because we are not even close to be in a bubble. price has to reach something like $70k to $100k before we can call it next bubble and expect 2018 to be repeated. which would probably take until 2021. |
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Your predictions are so wrong,I can't stop laughing.  Bitcoin will never grow at such scale.You should be way more conservative. I expect bitcoin to reach 20K USD at 2020,not half a million. I think OP was too hyped up when he made those speculations. but at the same time I don't think $20k would take that long to be reached because as we move forward with the adoption it is becoming rather easier and also faster to rise as there would be more money flowing in due to increased adoption rate. that is why the adoption chart looks like an S curve with initial slow rate slowly rising until it reaches near vertical speed and plateau after reaching mass adoption. |
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If Satoshi is for real and if he is there, living; I don't think it's a big deal for him to break any kinda locks you're referring to. If he could login here, maybe he's having some extra proofs in his account itself which would immediately make him prove that it's him, the real Satoshi.
Satoshi, the super hacker  but on a serious note, the "owners of the forum" have locked that account and nobody else has access to the database to change it but them. I think it means theymos and possibly Cyrus (needs spellcheck!) have that kind of access. The word "profitable" seems to be a fit here because these guys are just attacking each other, trying to steal someone's identity and making a lot of money doing that which they don't deserve et al. I don't know why these entities are trying to get their shitcoins up while playing all that drama against the community, that too at a time when BTC is gaining back a lot of exposure, media and is now a part of mainstream. Are they trying stop something that they know and we don't?
I don't think they want to "stop" bitcoin. it is more like seeing an opportunity and wanting to grab at it while they still can and make as much money as the hype lets them to make before the market matures enough so that this type of shenanigans be ignored. |
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But a lot of these could be transaction spammers to increase fees for normal people and pump up the altcoin networks because they will look more enticing with lower fees instead of paying a few dollars on a small transaction.
At the end of 2017 there was spam. Then the fee didn't get the chance to drop. Now we drop back to under 10 sat/byte recommended fees basically every day. I find it different by a great deal. exactly. the difference between now and 2017 is that a big percentage of the transactions in 2017 were spam attack which were coming from multiple groups of spammers not just one group! each having different purpose from altcoin pumpers to big blockers forcing fork and lots more. now, the spam still exists but it is not the biggest percentage. the bigger part is from generic transactions from real users transferring value to traders becoming active since bitcoin is in a bull run. |
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Bitcoin was worth 8500 USD a few days ago, which has now fallen to a low of 7800 USD.
no you are wrong. bitcoin was worth $4000 a few weeks ago and now it has risen to $7800. it has little to nothing to do with mining and its cost because miners only shape up a very small percentage of the trading market which is where the price is determined. if you disagree with this and think miners shape up most of the trading market then you should admit that when halving happens price should go up at least 500% which is never going to happen. |
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it is simply because it is profitable to do so which is why everyone is trying to steal that identity, most of them don't go all the way though but all of them have the same goal. and as long as the community pays these scammers attention, they will continue doing what they do. "If he really is, he can go onto bitcointalk.org and make a post under Satoshi’s account saying who he is. Otherwise he’s a lier. Or what? Did he forget his password?! Lier lier. And a twat."
nobody can because the satoshi account is locked to prevent abuse in case it was hacked or something. |
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for example the recent trade war between US and China has been affecting the gold price to some extent while it has no effects whatsoever on bitcoin.
Discarding correlation between Bitcoin's increase and the trade war and other political events that played out in the more recent months isn't a good thing, because you can't know for sure if these events have had or haven't had an effect on Bitcoin. I doubt these events are the main reasons for the price action we have seen so far this year, but I'm quite sure that they contributed to where we are today. Bitcoin is the perfect tool to work around politically oriented banks looking to troll people. More and more people distance themselves from thinking that Bitcoin is a currency, while the believe that it functions as digital gold is increasing rapidly. It's nothing like gold yet, but everything looks bright for Bitcoin in that field. yeah, of course I can not be sure and this is obviously my speculation. any event in the world of this magnitude can affect the bitcoin price but as you said they are not the main reason and I think its effects were so small that we may not even be able to categorize it under reasons for the rise. |
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I think it's just a mere coincidence. Whenever there are huge transactions like this, people from everywhere are freaking out and that's the cause of the dump.
Everyone starts to sell and thinking that there will be a huge dump so they're doing it earlier before that transfer puts on sell order.
nah, because nobody is watching the blockchain ever to see these types of transactions so they don't even notice these types of movement. the only case when it comes to people's attention is when someone like OP finds a completely random big transaction and posts it on social media like this forum! and still that won't do anything to the price because it is not the first time something like this comes out. |
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you can't say "everyone" is like this because you don't know and you have not actually asked everyone! there are lots of people that are spending their bitcoins and if you look at some of the stats that these payment processors release you can see what I mean. for example Bitpay is always releasing a huge yearly growth in both the number of merchants they added to their network and also the amount of money they have processed which is exactly the money that people are "spending" through their services. and that is in the millions and only in Bitpay, there are other payment processors and also a lot of merchants directly accept bitcoin.
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another case of obvious altcoin advertisement that is going to possibly create some temporary hype in the market of that altcoin and get that coin pumped for a little while before they dump it again and enters its death phase.
I am surprised that people still have a hard time seeing the same repeated pattern!
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