it's nothing more than a secure loan, that exchange give to you, then you use it to make more profit, but if the price don't move you simply give back that loan, so with a 200 deposit and x10 leverage, if the price remain 200, you will end with zero profit
but if the price will raise to 210 you will get +100 usd(10 x 10) plus another $10 from your 200 deposit, so 300 in the end
essentially a thing like this aims to encourage trading
So if the price drops 10 with 10x leverage you got 90 of your deposit left and lost 110. The profits are bigger and so are the loses. If the value of bitcoin carries on like this +5-10 till -5-10 this is going to be an awesome way to make a bit more with day trading. yeah there big gain but also big loss, but if you're a good traders and really confidant with your moves on the market, you should definitely go for it also something like this comes in handy when the stability is greatly increased like now, where the price fluctuate between two close numbers and you need big money to gain something weighty |
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Are you still living 100% on Bitcoin? I remember the thread and it was pretty important. Are you avoiding 100% of taxes? how are you dealing with the taxes? I don't know how to do it because I have lost all of my information on how I made my Bitcoins, most of the Bitcoins I made were on now defunct exchanges, so who the hell knows now how many trades I did? If a person wants to have their Bitcoins taxed it is honestly a nightmare because I lost most of the information to back it up.
well if you bought thing wi those, bitcoin you should remember at least that, you should still have the receipt at least, or you can in the worst case just remember the price of those thing, then declares an estimateand add a bit more to it the real obstacle is providing the source of those money, you need to give the proof that those money come actually, from bitcoin |
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I have never taken a loan since I have never needed it, but I was considering giving out loans to other people myself using some of my BTC. They usually recommend BTCJam but im not sure if I can trust it, since it seems the number of scammers is high and they don't seem to be doing anything about it for you to recover the lost money. It just feels like a gamble.
same, i would only provide it, but only if it is for a short time, let's say 1 week loan and 5% interest the issue is that they ask for loan but in most cases no collateral is provided, at least here on the forum(btcjam isn't that better from what i've heard) |
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another method, is by having a good escrow service, and help people who need someone to trust, you can begin to charge something very small to encourage new adopters, something like 0.1 at launch would suffice
Have you been able to successfully serve as a escrow? I'm trying to think about ways to make some more BTC and being a escrow sounds good, it should be easy as long as you stay consistent and trusted, but I wonder if there is a possibility to become a escrow or is already monopolized by a couple Legendary posters with tons of trust or something. no, i'm not really interested in forcing a trust rise, i let it go naturally, i'm already trusted enough i think, i've done some trading and some selling, i don't need other trust if you want to stay competitive as a escrow, you should offer a full service that includes every aspect, and not only for selling or buying bitcoin, but maybe altcoin too, or for selling/buying items on the market ecc.., few(if none) are offering this kind of service, so i think that you can emerge quietly, if you start with a wide acceptance of your operate |
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bollywood i guess
i think (but i could be wrong) that there is too much religion going on, there
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It's better to make a move when we don't have to than to make the move when we need to. Imagine having these debates when blocks are already pushing their max size? Nothing would actually get done. There'd be too much fear and debate about how to do it.
only a moron would act when the shit hits the fan. so i agree 100% here. You are so right about that. And yet, as a species, we tend to react when the shit hits the fan. lol because there is always the possibility to find a better alternative, this is one of the reason why ,many do not prevent things, before they happen, even if they know they will happen soon i hope that there is also an automatic increase over time.
this is a good thing that could actually make the block size scale with the demand, instead of throwing unneeded space... |
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-snip-
When block reward halve, we can expect big increase of price
You can also expect some of miners just shut down their miners due to high electricity cost. At first halving , there was another expectation. ASICS race. Since there were more energy efficient miners came to the market , BTC price just went crazy due to this. However this time it will be a mistery. I still think there will be some increase at price but not too much. But still, we have an opportunity about this halving by watching LTC first halving. or you can expect the miners to remain the same and the price too, because the first will have a better technology that can sustain the price halving, because their electricity will halve too, so instead of having 80%(100-20 form electricity) they will have 40% (50-10) |
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Once you sell the BTC (or at some defined time after you've taken the loan) you have to pay it back. So the principal of your original trade (minus what you deposited) goes back to the bank/firm. You pay a small fee and then keep the gains off all that you borrowed + deposited. You're getting most of the return off someone elses money. Physical delivery or not is dependent on how you or the firm you work with structures the trade, but it could be either. It's great when the trade goes in your favor. If the trade doesn't go in your favor you can blow yourself up pretty quickly. But if I have deposited €200 and withdrew 10 bitcoin, I might never come back to this exchange, so I guess they have to limit the amount of withdraw to be less than my deposit, e.g. I could withdraw maximum 1 bitcoin in this case, the rest 9 stays in their database, waiting to be wiped out by a margin call I would be weird if you could withdraw more then you actually funded your account for, so should be somewhere like the way you explained. I quess you cannot withdraw untill you paid of your margin part, so you might not even be able to withdraw the one bitcoin you funded untill your margin call is wiped out and youre back to zero on that. So it is only a number game in the platform to wipe out users more quickly, like those Forex bucket shop. Gamblers like it it's nothing more than a secure loan, that exchange give to you, then you use it to make more profit, but if the price don't move you simply give back that loan, so with a 200 deposit and x10 leverage, if the price remain 200, you will end with zero profit but if the price will raise to 210 you will get +100 usd(10 x 10) plus another $10 from your 200 deposit, so 310(200 from your deposit with a net profit of 110) in the end essentially a thing like this aims to encourage trading |
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they destroyed their own ecosystem with their printing non stop, i hope they will all fail like this and people will be forced to embrace Bitcoin apparently they did not even understand what they've done "We recognize that the world has changed and we need to change with it," , the world didn't changed, you changed it with your iperinflation Nothing unexpected, since everything is going virtual, and there is no need for large number of personnel. Even the credit loan request is evaluated mostly by a program.
But i for one am glad they're letting go of people, since it makes they show that they care for nothing but profits, maybe now more people will realize that and try to fight them.
cheers
the future is well painted, with everything done by machine, human labor will be obsolete sooner or later, but if you think about it, going with bitcoin, while being virtual, is a thing that promote the human work and less automatization, unless everyone run a bot to spend his bitcoin instead of him.. |
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i don't agree on the part where they say that put on the same table, the suffix like "bit", "coin", "dark", and saying that they could have a bad impact, while it can be true for the latter, certainly isn't for the former
names that start like "bit" and "coin" are just abused too much and oversaturated, but has nothing to do with having a bad light for your service
exmo remind me of emo, not that great of a name, and gem is even more abused than bit...
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this is the same with any other type of money, why it should be different with bitcoin? they are just spreading fud again?
don't meet with strangesr when there is another stranger with him, or in a non public place, or if he look like a criminal(some times you can tell this clearly)
bring a friend with you, or bring your own weapon at least, this is a bit excessive but critical situations call for drastic measures, especially if you are trading with a big amount....
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Thanks, but aren't developments like this going to stop people wanting to use bitcoin?
If its no cheaper to use bitcoin why will they bother.
don't forget that euro and other fiat, to be send may be free of charge, but there are always other cost involved, for your credit and debit card, instead with bitcoin besides the lowercase fee, there are no other type of fee also there is always the decentralized aspect, and the store of value that bitcoin offer over fiat, it's not only about fees Hi all, I was just reading this article about LHV bank building an app using blockchain technology which "enables users to send and receive euros instantly and free of charge". If banks start to do this then doesn't it mean that there is less of a reason for bitcoin? I thought that one of the main reasons why bitcoin will take off in the future is that it reduces costs for people. As an investor in bitcoin, is this kind of development worrying? http://www.coindesk.com/lhv-bank-backs-wallet-app-built-on-bitcoins-blockchain/They cant use bit coin block chain if Bitcoin dont exist. This is adoption. Adopton is not only that you go buy Kabab with bitcoins. To do that you dont realy need Bitcoin. Bitcoin gives you much more. Yes this is future of Bitcoin. People will not even know they are using Bitcoin. but they will daily. Now we mainly get lost explaining people what Bitcoin is. That is just a waste of time. People are not interested how and out of what their car was made. They are just interested how fast and comfortable they will travel from home to their job with it. something along the line, of "they will use euro, the system convert those in bitcoin, without telling you, those bitcoin will be send to the recipient, and then converted again, without you know nothing about it"? it could work, but not without fees |
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It is absolutely clear that mining cost follows price. Higher price -> more mining -> higher difficulty -> higher cost.
Currently, it looks like miners are investing to position themselves before an expected price hike.
Thanka, n fact I was thinking that bitcoin price is a function of mining cost which is opposit of what you are saying Most of the people buying and selling bitcoins are not miners so there is no reason why mining cost would affect bitcoin price. There is no reason why miners would buy bitcoins. actually there is, but only in the case the price fall too low, and their whole mining activity become unprofitable, the first thing they will try is to support buyers, to raise the confidence in the future price and starting a small pump that should bring the price to the profitable level, the second , well.... they will begin to sell their hwdware |
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so this has nothing to do with the current crisis, they have just internal problems and can't handle it apparently expect another form of scam then, with their bank, especially now, that the economic system is more fragile and everything is more exposed to general fraud of any sort... it could explain why they are so focused on the colored coin tech... |
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the problem with trading bitcoin now, is that the swings are so slim that you need to invests a big amount, you need to move large volume to do anything, or you are making pennies only
it's just a whales feast now, casual traders can't really enter the market in this condition
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Litecoin? WTF..
if there will be sometimes some successful altcoin, it will be dash or dogecoin. sorry to say, but litecoin is just crap:(
i can't see how dash is better , when it is still a clone of another coin, like litecoin is too, they are all trash to me a good coin, should be one that incorporate every good aspect about some altcoin, like ring/signature/mini-blockchain/energy efficient/and energy useful(curecoin) You forgot about the name of the coin.. name does also have an impact to the community.. "curecoin" rofl i can agree on this, but curecoin is also not that good, because it was a clone of gridcoin(notice the better name), i should have said that instead Litecoin? WTF..
if there will be sometimes some successful altcoin, it will be dash or dogecoin. sorry to say, but litecoin is just crap:(
dogecoin? dogecoin is only alive it bcuz merged mining with litecoin. without litecoin dogecoin is already dead. wait for litecoin blockhalving. you'll remember this post and regret. "only" bitcoin supporters are salty as always. there is a chance that bitcoin halving will not bring any raise, and you're still thinking that litecoin halving will something to its price? litecoin is even mor ein the grave then bitcoin(no comparison) you can at best expect only a small pump like one of those that happen each week on a random altcoin, then a even bigger crash, litecoin is doomed the halving won't save it... |
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The reason its not happening is because there's nothing to buy with cryptocurrencies that leverages their unique properties.
baleted.
probably it really is the reason they(some shops) should force to buy in bitcoin, by removing other payments, or should provide a high bonus to cover the possibility of a dump while someone buy with bitcoin(this is an nother reason why many are not buying with it) they still have that fear aboout bitcoin volatility despite the current stable situation Mass Adoption is Impossible, since only 7 transactions per seconds.
the block isn't saturated yet, it will be increase slowly, so we can accomodate a slowly adoption |
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well bitcoin will achieve the wall street officially on the next years when they find that btc will stand for years and all comunity will keep growing year by year soo bitcoin can reach it i dont get why didnt had reached yet...
Because bitcoin is new invention and the adoptiong rate is still far low to get wall street guys involved in early! they should start now to get involved, and not waiting for someone else to raise the price, they are the one that could rise this baby to the sky, then the others will just follow |
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It will be a bumpy ride, next confirmation will be testing of $290 by mid-june and staying above $225 until then.
One month later, the $225 is being aggressively tested. On the one hand, this is the predicted line and it's somewhat ok, we did dip below but not much by looking at the big picture. On the other hand, it's really aggressively tested. Fasten your seat-belts. How do you think the current value was effected by the fork bullshit that is going on? Would be we be closer to the 290 USD target you predicted without this news? it's obvious that the fork did something to the price, caused that little drop of 20 usd, but without that, it would not have reached 290 for sure, we were still too far away from that point the increases , marching slowly, the falls happen almost instantly |
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the one that say this is because
they got burned at 1200k
they can't understand bitcoin
they still think that it it a scam
just another bullshit excuse to dismiss bitcoin
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