If people have tokens on the Hong Kong exchanges, I'd move them now.
Just selling them is enough and is the only smart thing to do, and sell Ethereum as well before authorities start taking over this approach globally. Ethereum thrives on ICO's, and when you see authorities take away a major chunk of the demand resulting in Ethereum to be where it is right now, then it's safe to say that people are an utter idiot for holding Ethereum at current levels. Yes. Most of what is coming out of the regulators hurts Ethereum more than Bitcoin or other cryptos. Same goes for the ban on ads on Facebook - pretty much all of them were for ICOs. |
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My strategy is not to be greedy. When I already profits, I do my exit plan. Just take profits and buy again on dips. Every trader should know that, specially when you doing day trading. My target profits is around 10% to 20%, and after that I can exit, and re entry to other coin again.
Spot on. Nobody can time the exact high, so when you are in profit and hit your target, cash in. |
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Noone could ever take bitcoin's crown,noone could ever replace bitcoin on its position. If bitcoin was not born,would you think that too many altcoins would appear? Bitcoin has already make a history in cryptoworld,Btc will always be the king of all coin.
Just because you were the first doesn't mean you will remain #1. MySpace got defeated by Facebook. Do you remember which company invented the smartphone? Motorola, which doesn't even exist anymore (they were taken over by Lenovo). Nothing is guaranteed, and the biggest danger to bitcoin is the complacency of the Core team. |
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Once again, I am obviously not talking about the recovery of altcoins till before the level they have dropped. That isn't relevant here at all.
My point was that since entering the market when it was it its lowest (I bought in at 6.1k USD) with my original funds that I had extracted at between 17-16k during the crash, the %gain made from my selected AltCoins on average are generally higher (note: vs. BTC, not vs. Fiat -- i.e. I have gained more BTC than I would have if I left them all as BTC). I can convert them back into BTC or ETH at anytime too.
It's because alts have a smaller market cap. It's easier to move the price when the sell orders are just a few thousand dollars, a whale could eat that quickly. Whereas if the sell orders are several hundred million dollars, you need much more firepower (or co-ordinated buying) to move the price upwards. When bitcoin was in it's early days, it swung by big percentages too, because it was easy for some whale to do a pump. |
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For Bithumb, what to do with old accounts with non-Korean subscribers?
It's not clear what they are going to do. I think accounts will have to be closed because last year the Korean govt banned non-Koreans from the exchanges: http://koreajoongangdaily.joins.com/news/article/article.aspx?aid=3042036The Korean government will prohibit minors and foreigners from trading cryptocurrencies in Korea and restrict financial institutions from trading and investing in the relatively new form of asset as scams mushroom and rumors fuel wild price gyrations. |
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We still don't know what tokens they are talking about here, though.
Pretty much every single ICO token can be classified as a "security", if it represents a share of a network.
I'd assume all ICO tokens are banned, and only open source cryptocurrencies that can be mined are eligible to be traded. If people have tokens on the Hong Kong exchanges, I'd move them now. |
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https://www.coindesk.com/korean-exchange-bithumb-is-accepting-new-users-again/South Korean cryptocurrency exchange Bithumb is now accepting new investor registrations following integration of new regulator-mandated "know-your-customer" (KYC) procedures.
In an announcement on its homepage, Bithumb said that, starting from Feb.9, investors on the platform will be able to confirm their real identity through accounts at Nonghyup Bank. The firm further detailed that KYC integration with Shinhan Bank is also being pursued.
The integration arrives just 10 days after a formal ban on anonymous virtual trading accounts in South Korea. As reported by CoinDesk, the country's Financial Services Commission (FSC) had mandated that all cryptocurrency exchanges in the country must introduce real-name verification procedures for all customers via domestic banks by Jan. 30. It looks like you need to have an account at an approved bank before you can open an account at Bithumb, and they are using the bank's verification process to identify the bithumb account holder.
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Just to update on this story. The bill has passed the state senate, it now needs to pass the state house: https://www.azcentral.com/story/money/business/tech/2018/02/09/bitcoin-tax-payments-arizona-could-become-first-state-u-s-allow/324424002/The implementation date is not until 2020, which would give the Department of Revenue time to determine which currencies it will accept and how it will make the exchange to U.S. dollars.
Petersen said because the Revenue Department will only credit taxpayers the value of the Bitcoin after it's converted to dollars, there is no risk to the state. It looks like it's not just bitcoin they are approving - Ethereum, Litecoin and Bitcoincash could be accepted too, if they are still strong in 2020. |
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I hate to break it to you but we have ALREADY had our crash from $19,400 to $5,800.
It's only the fifth crash bitcoin has seen, and I expect we will see many more. It's entirely normal for these types of pullbacks to occur. Nothing goes up in a straight line.
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I find it hard to believe that China's central bank was hacked.
I mean, they are the central bank, they probably have the best hacking protection.
I think the story of "Oh noes, they're not banning bitcoin, they were hacked" is the fake one... They've banned it, and we really should stop talking about China, they are no longer part of the crypto world.
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Obviously do your own research, but I would look for coins that are gaining real-world merchant adoption. That means mainly Litecoin, Ethereum, Bitcoincash, Monero and Dash, but I've also seen adoption of Zcash and even Doge. |
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I heard the US authorities recognized bitcoin as a useful technological tool
for the development of the financial system.
It's just them more or less softly admitting that crypto has potential, but that's really it. These words are positive regardless of how you look at them, but remember, words are just words and can change later on. The most interesting part will be what level of regulations they will be coming up with. They have been hinting at more regulations, but haven't gone in depth about how this will impact the market and our freedom as user. As long as the regulations are fair, they will stimulate further growth of our crypto industry. Just think about it, without the regulations we have experienced already, we wouldn't be where we are right now. They'll simply extend the existing regulations they have for online stock brokers, to cryptocurrency exchanges. I doubt the USA wants Japan and Switzerland to become the leading players in this brave new world, so they won't ban it. |
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While there are big similarities to other financial markets the cryptocurrency market still performs highly differently and many experienced traders will get burned. They're not prepared for the volatility of the market and they haven't had the experience that many long term bitcoiners have had. They've seen all the dips and falls many times over.
Agree. Also - most of the people in the financial markets have only experienced the bull run since 2009, with central banks intervening in the market (the Swiss National Bank actually owns 9% of Apple shares for example). None of them have experienced anything like bitcoin where there is no central bank intervention, and where you can therefore lose all your money if you get it wrong. |
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I wander if in the near future some tokens or coins can fusion together...like for example in the stock markets or acquisitions, when big holdings buy other companies or when there's a fusion of 2 companies into a bigger one...
Do you think it is going to happen also in the crypto ecosystem?
It's unlikely because there is no way to fuse blockchains. You can do forks (creating two new chains) but as far as I know, you can't merge two chains into one. you can create a new blockchain and swap coins to the new blockchain ...or just invent a new technology How would two chains fork to a new chain? Both protocols change to the same? How would wallets deal with the historical chains? You would need a wallet that recognised coins sent on both the previous chains. In order words a wallet that recognised historical coins on two separate distributed ledgers. |
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I bought some Dogecoin, but I regret it, because I discovered a few days ago Dogecoin code is no one to update, I want to sell it, I do not believe it has a lot of price changes.  It doesn't really matter if development is not happening on Doge. All that matters is that the coin works perfectly and the wallet works perfectly. It's a sweet little coin that is used much more than other more hyped coins. |
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I still don't understand how these tokens are being claimed, because the process is usually to sign a message, It doesn't make much sense to make it with TXID as everyone could claim it. With that being sad, this issue is known within the community whenever an airdrop/hardfork occurs. I can't tell you for sure but logically, It's from their right to take these tokens as they control the private keys are theirs and not yours (another reason on why you should control PK at all times). If they ever decide to support an airdrop, It becomes your right to receive tokens otherwise, It's theirs. As for the second questions, as a business, these tokens are not taken by a single individual, It belongs to the exchange site and then It's up to them on how they deal with these things.
And for the 2nd. question: If taken IGNIS as the son of NXT, then these IGNIS were borned by the NXT tokens that now already proved to be mine - so these "sons" should also belonging to the original owner of these NXT tokens. It is now Bittrex refused to give back by judging its originations, but only keeping by themselves. If Bittrex does not give back to me, I would rather these IGNIS to be contributed to the NXT community for R&D works, but not keeping to themselves - it's just like giving themselves free money. In which I felt at least I won't wish to do that since they caused the sufferings to me for over 2 months by always keeping silence to make you wait all-the-time. The only recourse for you to get your coins is to contact one of the American regulators (Bittrex is located in the USA). I think it's FINCEN (Financial Crimes Enforcement Network)you need. You should be able to find their details online. |
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Also, would be good to have the list of the tokens that SFC requested to remove from exchanges. Anyone knows something?
Here is the original SFC statement: http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=18PR13It doesn't say which tokens it wants delisting. But it does say this: ICOs are essentially crowdfunding by blockchain start-ups. ICO issuers are typically assisted by market professionals such as lawyers, accountants and consultants for advice to structure the offering as utility tokens to fall outside the purview of the SFO and to circumvent the scrutiny of the SFC.
"We will continue to police the market and enforce when necessary," said Mr Ashley Alder, the SFC's Chief Executive Officer. "But we are also urging market professionals to do proper gatekeeping to prevent frauds or dubious fundraising and to assist us in ensuring compliance with the law."
Investors have complained to the SFC that they were unable to withdraw fiat currencies or cryptocurrencies from their accounts opened with cryptocurrency exchanges. Some complainants claimed that cryptocurrency exchanges had misappropriated their assets or manipulated the market, or that technical breakdowns of the exchanges' platforms caused them significant losses. Several complaints against ICO issuers alleged unlicensed or fraudulent activities. The bit about being unable to withdraw fiat currencies surely applies to Bitfinex. And the bit about technical breakdowns on the exchanges causing losses is interesting. And it's also interesting that the SFC thought to make that point explicit in their statement. I guess exchanges in Hong Kong are on notice that they might be liable if their "technical breakdowns" are timed badly. |
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I wish they wouldn't do lists like this. They're just putting a target on the backs of those who own cryptocurrency. We're going to see a re-enactment of what happened in Italy in the 1970's where children of rich people were kidnapped for ransoms.
People - if you have crypto, don't boast about it. And split your coins across many addresses in your wallet - that way journalists looking through block explorers won't realise just how much you have.
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Virginia Senator Mark Warner also predicted that the total cryptocurrencies market cap will reache 20 trillion dollar.
It means that the market cap should be rise 50 times. If it happens bitcoin price will rise 50 times too.
I think the total market cap of cryptocurrencies will be huge. But am not sure bitcoin will rise by 50 times. It is losing merchant adoption, other coins are catching up to it. I think the flippening with Ethereum will happen. I think litecoin, BCH and monero will be used as currencies. Am not sure where bitcoin is going - it might get to $30k, but beyond that.... |
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