XRP army be like "yo we can do that for one tenth of a penny and in 3 seconds"  

In this specific case it helps that there is not much network congestion, otherwise the fee would have been higher, but it just shows that we don't need to pay financial institutions $50-$100 to move value from one account to another.

Maybe that these developments within crypto will reduce the cost of the legacy banking system, but I have my doubts. If there was an incentive for them to do so banks would have done it already, but they are fine letting people overpay big time.

Nothing to be shocked about nowadays. I was already wondering when the next exchange would be hacked this year and we have it now. It's super sad for those who are going to be victimized by the exchange.

The only way to prevent this from happening is to not use an exchange as wallet and whenever you are trading, only trade relatively small amounts. In my case I never have more than 1% of my total holding on an exchange.

I used to send like half of my total holdings to an exchange and trade, but these days are over and I'm glad that I didn't have to go through a hack to learn from that mistake.

New York is indeed one of the most regulated states in the US, but I'm sure that they have enough institutional clients there that justifies the license cost and the lengthy process it took to obtain it.

I do however not think that we will see many crypto exchanges do an effort to get that license. If there was much retail demand in New York it would have happened already but they can let it slide comfortably.

Not before they actually change, but when the market conditions do change, the trend generally changes as well, which you can use as an indicator to adjust your positions so that you don't hodl the market down for example.

I regret having ignored the changed trend when I noticed it like a month ago, but I can't go back in time, so I'll make sure to not make the same mistake during the next indication of a changed trend, which I am now patiently waiting for.

It depends on each person individually, but treating trading as a job isn't the right thing to do if you're sitting at home. It's great if you're a seasoned trader working for a firm where you have a fixed income with additional bonuses.

If you are trading from home it should be an additional income stream rather than your main income stream, especially with how you aren't guaranteed to make profit to begin with.

No way that pressure isn't going to affect your trades negatively. It also increases the probability of taking unnecessary risks to gain back what you lost, which is a common mistake traders make.

Not sure if this is real or fud, but I do not even care much to be honest. I do not believe it has any impact on the price whatsoever because we initiated a downtrend weeks before this and some other fud crap news came out.

We have to be patient and let the market bleed until there are more buyers than sellers and we go up. Take every news you read about these days with a massive load of salt because this bad news is timed perfectly now we are going down.

Maybe, but that will eventually change when we have another government or global banking fuckup. If banks are doing fairly well, governments in most financially strong countries too, people have no need for safe havens.

We will have to see whether the 'looming' recession really strikes one day, but that might be such a catalyst for people to finally start appreciating what Bitcoin brings to the table. People need to be uncomfortable first to explore new alternatives.

They have been for years. All that's left to do is create the infrastructure and short to mid term demand to sell the coins they accumulated throughout the years to a bunch of suckers buying into that demand.

Do they like Bitcoin? I think they do, but just from a volatility standpoint. IMHO, they don't see Bitcoin as a safe haven asset, neither a valid payment method. It's just one of the many risky assets they play around with and make money with.

I think that people should have acted sooner when it comes to hedging against the downside by selling to fiat. I kinda regret not having done it myself sooner but now it makes little sense for me to do it.

The thing with selling now is that you might regret it with how negative the current sentiment is, and whenever I see this negativity take over, we usually see the price bounce back up, and that seems to happen right now.

Overall, people are free to do what they want, so if any of you think the best option is to sell now, then that's what you should do. I will not sell a single Satoshi unless we bounce back to $9-$10k.

That's common sense stuff. If an exchange would allow that to happen even once, they will be flooded with fake hack reports from people (frauds is a better term for them) thinking they can make a quick buck. 

I don't think I have even heard of non crypto services to do that. It just doesn't make sense because of how much money there is to lose. In this case I'm happy with exchanges being neutral/conservative with such events.

Of course there is a lot of fear in the market, it has gone down like $3.7k after the spontaneous pump to $10.4k that shocked the entire market. No one expected that pump to happen and it made a lot of people very bullish.

The volume that was generated with that pump was ridiculously high, yet it turned out to be just a pump and dump. I should have sold but as a hodler you act irrationally and keep hodling unnecessarily, which sucks now.

It mainly depends on what your plan of investing is, but I'm not seeing much of a buy flag here. I stopped buying until I see the market show signs of reversal.... currently the market has signalled do not catch a falling knife.

For traders there is enough volatility to trade but I'm not a trader so I prefer to calmly wait for the market to look healthier and make some higher local highs. I'm not in a rush to buy because I already have a decent hodl position.

People who got screwed have only themselves to blame for. If you rely on someone else to tell you what to long and short you are not going to succeed in life. It's pure gambling that you do and nothing else.

Even those who sell signals are just guessing. Do you really think a trader with the right skill set will share his money making trades with others for a small amount? They don't need pocket change when they can make huge profits.

Also, one must love to lose money buying into something that has shot up vertically. That's never a sign of health in a market, especially when it comes to illiquid shitcoins that require little capital to pump hard.

The price gap between $6.5k and $4k is huge. I don't think we will see the price tank to $4k and if it did so anyway, I probably wouldn't buy because that to me doesn't look like there is much demand left.

$4k isn't even that important technically. It's a round psychological level, but other than that I don't see why we wouldn't retest the current low just above the $3k mark in that scenario.

People are getting more bearish as we speak, which generally means that they have sold and for that reason expect and hope that the price will go down, so don't be surprised to see a significant counter move soon.

Unfunded speculation. Similarly, there is a lot of unfunded speculation about Bakkt not having any coins in storage. I seriously wonder if anyone has tried to actually withdraw the "physically" delivered Bitcoins.

If Bakkt actually bought 100k BTC they wouldn't do that through exchanges but through private OTC deals (which they had a full year in time for), and these deals don't have an impact on the price. I'm still not impressed by Bakkt.

The government definitely isn't about free markets, because if that was the case they wouldn't kill off free market participation by overregulating every aspect of the markets within their borders.

When it comes to money, governments are ruthless, which we have seen with Facebook's Libra. If the government was about free markets they wouldn't have been so hostile against the issuance of their corporate form of money.

We haven't really seen a global meltdown yet. In the last couple of decades it has mainly been the USD that people used as hedge and store of value, and to some lower degree as means of exchange as well.

Currently we have Bitcoin but that doesn't mean it's going to benefit from economic turmoil, especially with how people still consider it a very risky and volatile asset class.... stability is key to gain people's confidence.

If the price pumps and dumps by 20-30% every so often that's not helping people. People looking for alternatives want stability and not constantly stress out about the price having gone up or down significantly.

I don't know anyone who is using the black market to buy Bitcoin. I think what you are referring to is the peer to peer OTC market, which has been gaining a whole lot of popularity in the last couple of years.

There is so much more liquidity in the OTC market that whales no longer have to lose a percentage by market selling due to slippage, and payment options can vary as transactions could be settled in cash or digitally.

It depends though. I have seen a lot people who call themselves a hodler and will hodl for ever.... that's not them being investors, but irrational noobs who think Bitcoin will replace all existing fiat currencies.

Investors don't refer to themselves as hodler, where I am sure that many of the so called hodlers dislike investors and speculators. Overall, everyone expecting gains is a speculator by definition.

I used to be a hodler who thought that Bitcoin would replace fiat, but I'm glad that I no longer think like that. It's not just unrealistic, but it doesn't even make sense. I have a target set and will sell whenever that target is met.

There is a big mining industry within China, but that doesn't mean they own it in whatever shape or form. They can subject mining to harsher regulations, but that still doesn't mean they own any of it. They never will.

Not really. I think one of the reasons they have been open to the blockchain space (not to be confused with the crypto space) is to understand the workings better so that they can implement these features themselves.

It's kinda interesting to see how this ends up working out because when China manages to get it working properly, other governments might follow because the one main similarity they share is total control of finances and so their people.