My point is:
It is way (probably multiple times?) easier for the exchanges to create fake BTC liquidity. Because of this their price pressure/manipulation capability is magnitudes higher on pushing BTC price down than on push it up.
Thanks for reading this far, what do you think?
Back in 2015 and 2016, the Chinese exchanges created fake volume because they were feeless exchanges. It's very hard for regulated exchanges in the west, which all have a fee-based model, to create fake volume. In other words, you won't see fake volume at Gemini, Coinbase, Kraken and other western exchanges. |
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I am getting worried because a lot of people are expecting the halving is going to solve all the problems that bitcoin has to maintain its price, and that to me seems to be a big mistake, because I cannot stop thinking about the consequences that will come to the market if that doesn't happen, what will happen if the price does not increase after the halving? And I keep thinking that people are going to be so disappointed that many are going to get out of the market and that could create another crash.
I'm worried as well. The Litecoin halving in August showed a surge prior to halving (thanks to speculators anticipating a halving effect) and then the price collapsed. I'm not sure at all that any rise in the bitcoin price will be sustained. And I'm not sure alts will surge either (last time people thought they were investing in the "next bitcoin" but by now they've wised up). |
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Privacy Coins: Are they the future?
Short answer is No. In the early days of bitcoin, the cryptocurrency space was dominated by liberatians who were obsessed with privacy. But the general public is not really interested - look at how much information is shared for free on Facebook! Developers are wasting their time trying to create more and more privacy coins - the market for those is already crowded (Monero, Zcash and so on) and the target audience is extremely small. |
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Yeah pretty sure it's a consequence of moving to this country. But well, the site is still not reliable to use at any cost. I hope people learned their lesson and after getting this update will move their coins outside their system asap (if they didn't verify their account). Anyone with a cell in the brain isn't going to stay on that platform.
So many alternatives around but please poloniex no thanks
This. Poloniex's move should be seen as a sign of desperation. They've probably lost so many users that they're trying to attract those people on the fringes who want to trade without a KYC. |
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If the stock market recession were about to repeat anytime soon, it means that there's a possibility about investors moving their funds from stocks to Bitcoin or any other cryptocurrencies.
What do you think guys? Do you think it's possible that these investors are going to move into Bitcoin when stock market is about to crash again? Hmmmm....
The stock market crash will be bad for bitcoin. First of all, those who are selling in a falling market get less for their stocks, and so have less to invest elsewhere. Secondly, a lot of the trades in the stock market are done on margin, and when investors get margin calls, the tendency is to sell bitcoin to meet those margin calls. If you look back to 2018, the stock market declined from June 2018 to Feb 2018 - and bitcoin's price dropped from $7,000 in June 2018 to $3,400 in Feb 2018. It was only when the stock market rose again, did the bitcoin price also rise. |
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To be honest, I don't see ETH doing that well lately. It had a big rally but that only acts as more resistance. Lately, when BTC price goes down a little, ETH traders seem to be much more bearish, exaggerating all negative moves with a greater margin. To me, this is a very bad sign. Maybe not 70$ in the immediate future, but we could see much lower prices than the ones in current levels not long from now.
The main use for ETH was the ability to build tokens on top of the chain, and then do ICOs for them. And in order to take part in the ICOs, you needed to buy ETH. Now that regulators have stomped on ICOs, there is no reason to buy ETH anymore, and the overcomplexity of it makes it unattractive for ecommerce (better to use LTC or Doge if you simply want to buy stuff or bet in an online gambling site). Basically ETH has lost it's main USP. |
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I think the main use of altcoins is going to be similar to what we see now, I do not expect them to actually be used as currencies they will be used as a way to speculate in an unregulated market, this may not seem like much but it has a great advantage over the rest of the markets that are full of regulations.
But when it comes to actually be used as currencies you can forget about that, people are not going to accept a bunch of useless altcoins when they will prefer to accept the only coin they know will have a value no matter what happens and that coin is bitcoin.
Good point. The focus on regulation appears to be only at the bitcoin-fiat interface. Whereas simply exchanging one alt to another is unregulated as they are just "tokens". Which means they're the only space for unregulated stuff like pumps and dumps and volatility trading. |
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https://www.coindesk.com/hanukkah-reflections-on-my-year-of-toying-with-bitcoinI spent 2019 trying a variety of products and services to test how easy it is to actually use cryptocurrency. I ran a Casa bitcoin-lightning node, used decentralized exchanges (DEXs), moved bitcoin from mobile apps to a hardware wallet (a Ledger) then transacted straight from the hardware wallet.
Beyond just running the node, I used the Casa device to send invoices for a small product (a poetry book) to learn more about the challenges independent merchants might face. Lastly, I set up a BTCPay store, which is the stage of this experiment I’ll end the year on.
And after a year of educational tinkering what is my takeaway?
It’s this: There’s no way this technology is ready for prime time. It's worth reading the entire article because they go into a lot of detail of exactly what goes wrong. IMO there is too much cheerleading in the bitcoin space, and not enough attention to sorting out the issues needed to make bitcoin succeed.
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What will happen if crypto vanishes overnight or due to some or the other reason if crypto becomes inaccessible to public? I know this does not make sense as crypto will not vanish but still what if it happens? What about those huge chunk of investments made by whales and other investors?
The only way it could "vanish" is if the entire global internet system went down, and thus miners and nodes could not connect. But of course the whole point of the internet is that it's designed to always stay up even if parts of it get destroyed (data is just routed through a different path). |
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Binance is decent for most of them. Fees and volume are sweet in there. Then you can go with bittrex or KuCoin or HitBTC for some more exotic stuff but I don't find them very satisfying for my personal use.
Be careful of HitBTC. It has very high withdrawal fees and doesn't have a good reputation. If you are trading one of the top ten coins, it's best to stick to Coinbase or Kraken. If you are trading other coins, then Binance is the place to go. |
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MoneyGram CEO Says Ripple and XRP Could truly transform Global Payments, what do you think? Do you agree or disagree? Personally i think centralized crypto is the answer, do you?
He would say that. Ripple bought a stake in Moneygram: https://www.finextra.com/newsarticle/34002/ripple-buys-stake-in-moneygram19 June 2019
Ripple has agreed to invest up to $50 million in MoneyGram as part of a two-year partnership that will see the old-school money transfer player tap the blockchain startup's XRP digital currency for cross-border payment and foreign exchange settlement.
Ripple is making an initial investment of $30 million to buy shares and a warrant to buy common stock at $4.10 a share - a big premium on MoneyGram's closing price on Monday of $1.45. MoneyGram can also choose to let Ripple invest another $20 million at a minimum price of $4.10 per share.
MoneyGram's share price more than doubled on Tuesday on the news.
The partnership, which will have an initial term of two years and builds on a pilot begun last year, will see MoneyGram use XRP in payment flows through Ripple's payment network xRapid in an effort to speed up and cut the cost of transferring money. He's just praising a major shareholder. |
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This looks terrible.
More centralization, more loss of privacy, more risk, and more letting Coinbase hold your coins for you - this is everything that bitcoin is against. Emails are poorly secure and people use terrible passwords.
This is also no different to how an exchange works or how "free transfers" between different users of the same web wallet platform work. All they are doing is updating an internal ledger as they move bitcoin around between email accounts. You still need to pay a withdrawal fee and wait for the usual confirmations if you want to actual take your bitcoin out of their system and use it for anything. No doubt it will be subject to the same ridiculous KYC, and also exposed to all the risks of letting someone else own your coins.
Agree. This is not revolutionary at all. Sending money with email addresses is what Paypal does. And email is such a 20th century thing. This is going backwards in my opinion. |
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- First halving, on November 2012 : Bitcoin increased from $11 to $1,100 in 2013 (one year later)
- Second halving, on July 2016 : Bitcoin increased from $600 to $20,000 in 2017 (one year later)
- Third halving, on May 2020 : Bitcoin increased from $6,000-$8,000 to $??? in 2021 (one year later)
I don't think the moves in 2013 and 2017 were anything to do with the halving at all. The key event of 2013 was the Cyprus crisis where they did bail-ins without warning people. Lots of people lost their savings and some businesses even lost their payroll money and couldn't pay their staff. That led to people saying, "be your own bank, and use bitcoin, at least the govt won't be able to seize it". And worldwide, this created interest in bitcoin. In 2017 it was China that was the reason. China has capital controls but people were able to get some money out to buy property abroad. (They'd usually buy a property in Vancouver or Sydney with a mortgage and then take money out of china each year to pay that mortgage. After 25 they'd have got their money out and hopefully made a capital gain as well). The crackdown on that kind of thing led to people trying to get their money out via bitcoin. Especially after Xi Jingping declared himself president for life. That initial rise in the bitcoin price then got publicised everywhere and millenials in the west started buying. In order for that sequence to repeat, we need a new story that will compel people to buy bitcoin - but I can't see where that story is going to come from. |
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The rebound was down to short positions closing (by buying bitcoin) as traders close their books prior to Christmas. Yesterday was Friday, for many the last working day before Christmas.
Nobody wants to be worrying about open positions while they are eating their Christmas dinner.
Normal trading will resume after the New Year!
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[
The price of dogecoin is decreasing anytime as the total circulating supply is getting a lot of increase anytime. It's not a good decision to take dogecoin as a long term investment. I also use doge as a short term speculation coin and that must not be more than 3 months. Doge has infinity supply that is the worst thing that will make those hodlers of dogecoin will be a party that will lose their money.
The price of doge in dollar terms ranges from $0.002 to $0.0027. Most of the supply has already mined, the additional coins mined increase supply by only a small percentage. I'm noticing more adoption for doge. Kraken now lets you trade it against euros and dollars. Binance is listing it. It's one of the few alts apart from litecoin or ethereum that you can exchange directly for fiat across the world. |
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In the next few years, centralised exchanges are going to be a thing of the past. Decentralised exchanges (DEXs) are the future.
I had to admit that KYC plays an important role today and in the future for AML purposes, but users like us don't have the control of our own funds as long it is stored in centralised exchanges.
If the customer or trader doesn't want to have withdrawal limits or control, they should go to decentralised exchanges.
What would be your reaction to this one guys? Looking forward to hear them out. Cheers!
I disagree. Centralised exchanges are here to stay. People moan about all the KYC requirements - and then continue to use them. Nobody uses the Dex's because they have no liquidity and no marketing. |
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I haven't heard any of the major exchanges, or anywhere really, mention this. Presumably that means they've taken it in their stride? If it's that onerous and that soon I expect to have heard a great deal more about it than I have.
Kraken used to allow you to just trade with a name, address and email, but about a year ago required uploading ID and proof of address and your occupation. So there has been a tightening of KYC requirements for anyone in the EU across all the exchanges. |
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It's good news, but soon the protester need to :
1. Buy/sell Bitcoin from exchange outside HK/China
2. Finding places which accept Bitcoin, if exchange Bitcoin and fiat become more difficult.
People in Hong Kong are still free to travel outside Hong Kong (unlike people in China). So they can easily make a trip to say Korea and exchange their bitcoins there. The issue is getting a dollar bank account outside of Hong Kong where you can then deposit the money. |
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It would be bad if all altcoins were delisted, but it would be better if only a few altcoins which according to them have no power to develop. As far as we know, there have been many new altcoins that have appeared in recent years, and on average altcoins become shitcoins, this should be delisted and let potential coins continue to be updated.
I too wish the exchanges just concentrated on a few altcoins. What ruined the altcoin space was the exchanges listing shitcoins because they were paid to. Once that happened, all sorts of dross got onto the exchanges, most of it designed for one pump and dump. The amount of money investors have lost on these is huge. |
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