He is American. Kraken is not for Americans. It has bad juju there.

Let us wait until this potential four year cycle is complete? It's beyond pointless calling it now. There's a lot of weirdness that could happen between now and the end of 2021 both good and bad.

This is revealing - https://blog.coinbase.com/on-crypto-markets-and-bitcoins-value-proposition-2fbbca5349dd

"In the 48 hours during and immediately following the drop, we saw record-breaking numbers compared to our last 12-month averages:
5x increase in cash and crypto deposits, totalling $1.3B
2x increase in new-user signups
3x increase in trading users
6x increase in total traded volume
But beyond just a rush, two things are clear: customers of our retail brokerage were buyers during the drop, and Bitcoin was the clear favorite. Our customers typically buy 60% more than they sell but during the crash this jumped to 67%, taking advantage of market troughs and representing strong demand for crypto assets even during extreme volatility."

Those numbers are outrageous and it points to that plunge being a once every few years occurrence. It could of course get back there again after months of boring falls which would be a lot less fun but the prospect of falling through the floor that way again looks remote.

I would be wary of buying big ticket items in this way because of problems like that, especially if I'm abroad. It's also a potential ball ache for OP. He might be contacted a couple of years from now as he might be the only way of getting a warranty claim sorted.

The idea of inserting or extracting GBP from Bitfinex makes me want to cry. I have genuinely never seen anyone on any forum say they've used that pairing on Bitfinex, let alone how they funded it or took their gains.

You are aware there's a handy algorithm that always makes sure mining adjusts to costs, right? That forever deals with profitability. There will never be a scenario where it's not profitable for anyone.

I wish that were the case but I don't think it is. CMC can make or break a project. It doesn't matter if you yourself are objective, the majority aren't. I was hoping that by now people would be using other options but people are lazy so stick to what they know.

Miners don't set the price. They follow it. They're slaves, not masters. They don't control a 'base price', the market does. The miners have to suck up what the market forces on them and adapt accordingly.

The market doesn't give a shit about mining cost, or whether miners go out of business. It's not its problem. It's theirs. No one else needs to care. There'll always be someone out there willing to mine and who can do it for a profit.

The only area where miners have any influence over price is the coins they mine and own and what they do with them which makes them just another market participant.

He's not a miner or a developer. He has no power to do that. Absolutely everyone other than him would reject any attempt. He got laughed at and torn a new one for even thinking out loud about it.

It is something that people should remember though. It demonstrates major hubris and stupidity. So far he has not demonstrated the qualities that someone with that much potential power could do with.

Ultimately he's just another service provider that leeches off the real system underneath. He'll be forgotten dust eventually just like most others.

As in the buyers pays you BTC and you send the item? There's loads of that going on here already. It's usually nothing accounts who offer it so you'll have a lengthy head start there.

I presume many people will demand escrows so perhaps that's worth bearing in mind. You might have to front money initially.

Agreed. They should officially shape up or piss right off. It shows CZ to be seriously tone deaf to steer it in the way he does. For better or worse cryptoland is only heading in one direction. Anyone who doesn't make an effort to accommodate that is going to wind up damaging it.

CMC's power was already a big problem. It had way, way too much and I'll guess it didn't expect to end up with so much. It wasn't run in a particularly responsible manner. I can't see Binance doing a worse job and people should already have been aware of its malignance.

It's natural for money to make money and drive towards consolidation. It's the way of the world. It's up to us to vote with our money and spread it around where possible.

CMC was already a poo with far too much power that it didn't deserve or earn. Nothing much will change. Perhaps Binance will be a bit more rapid to respond to the blatant piss taking.

And some say CMC was owned by the Bytecoin/HitBTC/Freewallet/Changelly/Cointelegraph mafia so it didn't have the most fragrant ownership to start with.

As for decentralisation, wut?

Binance always seems to choose the path of least resistance hence the constant jurisdiction hopping. Launching a card makes them look cool even if it doesn't end up in the type of places where it'll get the most use.

Still, if I was Malaysian I'd be pretty pleased. I can't say I've heard of many exchanges there.

We have two scenarios that are most likely - brief seizure and then back to relative normal or a flat out depression. If it's the former then this is a great moment to load up. If it's the latter then we've only just got started with the pain.

For a halving to have an effect you need ongoing demand. It certainly didn't do LTC many favours. I expect the same for that piece of excrement. Since BSV only has one miner at least its hash rate won't collapse like LTC because they don't care about the block reward anyway. The miner will keep it alive no matter what.

He's not a no coiner. He has three magic letters in his corner.

B

S

and V.

As with every other shitcoin it has convinced its advocates that it will somehow be immune to all the things they hope strike down everything else. Weirdly enough that's not how it works.

You're right of course. But the great unknown is how long this whole thing will take and what state the world will be in when it's over. That's the hard part to guess. This is uncharted waters for everyone.

If you can outlast any problems then you'll do great. It's the time frames that are the tough part. Maybe they've only just truly begun.

But there is, so what's the point in predicting a scenario that doesn't exist?

I don't believe there'll be any returns of note this year. I didn't expect any for 2020 anyway and that was before all of this happened. My guess was 2021 was when we'd see some action but that could be out the window too.

This could be a time where fortunes are bought in advance. Or you get your final raping. Only you can decide. No one else can tell you squat.

And shitcoins are another leg down. Who is going to put a significant amount of their ever diminishing capital into Tron? Things like that are a luxury item, as is Bitcoin but at least that's a solid one.

I've no idea what Canadian tax rules are but most places other than America should give you a tax free allowance.

And only this year and only in America have they made you admit to crypto involvement on your tax return.

My name amongst a load of mumbo jumbo that's several years old wouldn't make me sweat but I would've coughed up some tax if need be anyway.