|
I can't believe John McAfee is on that list. He's a nutjob who spends most of his time trying to pump nearly dead coins. I shudder to think how many guillible people have followed his tips and lost loads of money as a result. People like him are a cancer in the crypto space.
|
|
|
|
25k in march, 50k in july, 100k around november and december.
It will happen. 635% is nothing compared to 1600% in 2017.
Do you know how much money will have to pour into bitcoin to achieve that? It is easy to go from $1000 to $10,000. But it takes more and more money to move the market even by a few hundred dollars after that. |
|
|
|
It entirely depends on whether the privacy of these coins can be cracked. See https://themerkle.com/blocksci-succesfully-traces-transactions-performed-with-dash-zcash-and-other-currencies/Many cryptocurrency enthusiasts are not big fans of blockchain analysis firms. This additional scrutiny of cryptocurrency transactions could have major repercussions in the long run. It would not be a bad thing if the illegal activity associated with currencies such as Bitcoin were finally put to an end. Everyone knows Bitcoin provides no privacy or anonymity whatsoever, yet criminals still think they can get away with using this currency.
Blockchain analysis firms can easily track these suspicious transactions in real time. These efforts have been successful in aiding both law enforcement agencies and the IRS detect illicit activity involving Bitcoin. Whether we talk about crime proceeds or tax evasion, Bitcoin is not the tool for those things whatsoever. In fact, it only makes it easier for specialized firms to deanonymize users over time.
Criminals flocking to other cryptocurrencies may want to think twice about those as well. As BlockSci’s whitepaper explains, there are very few cryptocurrencies which have eluded their scrutiny. One of those currencies is Monero, as it provides a degree of anonymity and obfuscation the group has not been able to crack just yet. Monero is officially labeled an “unsupported blockchain due to it not following the one-input one-output paradigm.” That is an interesting point which shows how Monero may be the only cryptocurrency providing full privacy and anonymity right now.
BlockSci describes how they successfully traced both ZCash and Dash transactions from beginning to end, regardless of features like PrivateSend. This is anything but good news for people who value these currencies for their privacy or anonymity features.
If there is one big lesson to take away from BlockSci, it is how blockchain analysis will become more prominent in the years to come. Anyone who demands more privacy and/or anonymity in cryptocurrency will have to carefully read this paper and draw their own conclusions. The team has made a lot of progress pointing to how privacy is not necessarily present in the currencies people may like. While the main focus is on Bitcoin, Litecoin, Namecoin, and Dash, the team is also looking into Dash, Bitcoin Cash, and a few other cryptocurrencies right now. Basically they have cracked them all apart from Monero. |
|
|
|
Although Litecoin has a lot of room to grow, it is not impossible to call it king of all coins. I think bitcoin is the king of all coins, and of course you can buy Litecoin at a low price, although some people do not Optimistic about it, but who can predict the future?
Bitcoin is being dropped by merchants because it is unusable. If Litecoin can take over as the main payment processor, it will overtake bitcoin. https://www.financemagnates.com/cryptocurrency/news/litepay-litepal-two-new-litecoin-payment-processing-services-way/LitePay is to launch this week, and LitePal later this year.
LitePal is expected to be released later this year. According to the official website, users will be able to use the service with PayPal, Western Union, Bitcoin and Litecoin, and the fees will be “bone chillingly low”. |
|
|
|
For bitcoin to rally again it would take more than people knowing about bitcoin. It would take people USING bitcoin. It would also happen if people could buy bitcoins through the stock market (not futures).
This. The press is starting to pick up on the fact that merchants are abandoning bitcoin: https://www.forbes.com/sites/kenrapoza/2018/02/02/heres-one-reason-why-bitcoin-is-in-freefall/#5866497067c8Bitcoin may be in a freefall because demand for the cryptocurrency as a usable form of payment is slipping, if not dying altogether.
At least four companies have given up on Bitcoin transactions.
...The futures market is struggling to nail a price on Bitcoin.
The normal state of the futures market is backwardation. The opposite of backwardation is called contango, meaning the nearby futures price is higher than the spot price. Supply and demand are out of sync. You see contango in markets of scarcity. Bitcoins are finite. Demand for them as a transactional currency is eroding. Basically what he is saying is that even though bitcoin's supply is scarce, if demand is even more scarce because no-one is using it, the price drops. |
|
|
|
|
Alts tend to pump and then dump. So holders tend to end up as bagholders.
It's hard to say whether your coins are good or not, because we don't know what price you paid. My advice is that if they are in profit by at least 30%, sell and take that profit. You can always buy back later when the pump is over.
|
|
|
|
According to Engadget, the Adyen integration may occur as soon as Q2 or Q3 of this year. This means that time is ticking for PayPal, even though it will not be removed from eBay altogether. Instead, it will simply cease to be the default option for users of the auction website. Whether or not this will diminish PayPal’s appeal in any way remains to be seen. The company doesn’t have the best of reputations due to its strict regulation of accounts and random security checks which prevent people from accessing funds for up to 180 days.
It is also worth noting that Adyen supports a lot of interesting payment methods including cryptocurrency, although it’s unclear if the latter will ever be a part of the eBay platform. It makes sense for eBay to not disclose too much information until the new payment system is built and tested thoroughly. All sellers on the platform will be introduced to this new payment system between late 2018 and early 2021. Moreover, PayPal payments will remain available until July of 2023.
The whole article is based on Adyen supporting cryptocurrencies. I googled Adyen, and their payment page lists Apple pay, Google pay, paypal, but no bitcoin: https://www.adyen.com/payment-methodsCan someone look at the above page and see whether I've missed it? |
|
|
|
|
It's good advice. Coinbase in particular is pretty poor at managing it's wallets - they don't even batch transactions. They must have been bleeding money in December when the mempool was full.
People who have lots of inputs in their wallets might want to consolidate their coins too. That way, when fees rise again (and they will), they won't be sending too many bytes.
|
|
|
|
What happened to Bitcoin this month?
Anyone has a really good explanation about why is so down.
They say it would go to 50,000 this year..
I think is not going at all!!!!
It's just normal profit taking. And bitcoin was never going to go to $50,000. That would require billions to flood into bitcoin - not likely to happen. Bitcoin is still within it's rising channel that started last year, but it will take until December 2018 for it to finally hit the ATH of Dec 2017. |
|
|
|
|
In my opinion, the exchanges with a good banking relationship are the ones which will survive.
Most exchanges go wrong when their bank cuts them off for some reason. That's what happened to MtGox. And lately, Bitfinex.
At the moment Coinbase is under some pressure as various credit card companies say they arn't going to allow bitcoin purchases. Coinbase is pretty reputable, it is FDIC insured for fiat and has LLoyds insurance for coins in their hot wallet. But if VISA ban all credit card purchases, that's their business model gone. Coinbase did have the foresight to open GDAX which is a standard exchange that accepts wires. But Coinbase might have to switch to a cash wire business from a "buy with credit card" business to survive.
|
|
|
|
|
Here is my take:
1. Facebook ads - not important. Most ads are for ICOs which are held on top of the Ethereum platform. Therefore the Facebook ad ban doesn't affect bitcoin, litecoin, bitcoincash, monero, doge etc.
2. India isn't a large player in crypto. They don't have that many users. From what I can tell the Indian population is content with the rupee.
3. Bitfinex and Tether. This is potentially big. But it mainly affects Bitfinex, Bittrex and Poloniex. The latter two are alt exchanges, so this affects alts more than anything.
4. Crypto hack of Coincheck. This is a non-event because Coincheck are compensating people who lost their NEM (which isn't a huge alt in the first place).
5. Inherant volatility. This ladies and gentlemen, is your answer. All cryptos are volatile and people frequently take profits because of the volatility. Bitcoin is merely back at it's November 2017 levels as a result.
|
|
|
|
I don't agree. Sure lots of people have now heard of Bitcoin but very few have actually bought. Once the average person starts to buy Bitcoin - and there being so few of them - the price will start to rocket.
What would be the incentive for them to buy? Merchant adoption is going into reverse and there are a lot of more attractive alts out there that have the potential to make it as the #1 coin. |
|
|
|
Bitfinex registration is open again, but you need to deposit 10,000 USD of bitcoins before you can start trading. This is from the registration page. Thank you for your interest in opening a Bitfinex account.
Before continuing, please read, understand, and acknowledge the following important notices:
PROFESSIONAL PLATFORM
Bitfinex is a platform for professional traders. If you are new to cryptocurrency trading, please consider another, more straightforward platform first and return to Bitfinex later.
MINIMUM ACCOUNT EQUITY
New accounts will not be able to trade or perform any platform function until they reach a minimum account equity of 10,000 USD, achieved by bank wire or by depositing cryptocurrency.
VERIFICATION TIMELINE
If you wish to complete the verification process to gain access to additional features such as fiat deposits and withdrawals, please understand that the verification process is significantly backlogged. New verification requests are taking 6-8 weeks to complete.
INACTIVITY FEE
Bitfinex is not a wallet service. If you are not participating in Bitfinex markets, please withdraw your funds from the platform. In the future, users who hold balances in their Bitfinex account but do not participate in markets may be charged a small inactivity fee.
Thank you for taking a moment to understand more about Bitfinex.
If you have read, understood, and acknowledged each of the items above we invite you to proceed.
Welcome to Bitfinex.
Bitfinex Management 10,000 dollars is hefty. I wonder how many people will bother? |
|
|
|
The biggest problem I have with this theory is that - currently bitcoin price is showing very positive correlation with VIX. meaning when stock goes down, bitcoin goes down. not sure the correlation could be reversed anytime soon.
This. Part of the reason the US stock market blew up is because interest rates are so low, and people are desperate for yield. But this is the same thing making Wall Street types look at bitcoin. They look at the returns and their eyes get googly (or they get upset because they missed THE trade of 2017). If interest rates rise, people can get returns without taking mad risks, so both stocks and bitcoin should drop. |
|
|
|
People’s Bank of China, Shanghai. “One day you’ll see bitcoin’s dead body float away in front of you.”
Over the weekend, it was China’s central bank. Then, on Tuesday (Dec. 05), the Reserve Bank of India (RBI) warned investors against betting on bitcoin and other cryptocurrencies.
Governments that have capital controls (China, India) hate bitcoin. Govts with freely trading currencies (Japan, Switzerland) have legalised bitcoin because they think they gain more from it than they lose. Basically the future leaders of fintech and cryptocurrency will get decided this year. The countries that ban it will end up losing badly. |
|
|
|
I'm looking to store my cryptos at the moment and I need somewhere to put them.
Any suggestions?
Some ICO's are backed by actual businesses. You'll need to do due diligence yourself to find out which though. Some of these busineses are fake. Others are real, you'll need to go through profit and loss accounts to work out which one is which. |
|
|
|
You are not even worth my efforts. I am feeling sorry for your innocence at the same time feeling for your false belief. Anyways I am fighting for innocent people and I hope those people can understand my words.
Everyone knows who was right. The people who were following my posts know very well how I broke the info before it came out.
Out of interest - have you sold all your coins? Are you out of crypto completely? |
|
|
|
Never.
For 1 sat to equal 1 dollar, the total market cap of bitcoin alone (never mind the rest of the market) would be 2,100 trillion dollars, which is more than 20x the GDP of the entire world.
Agree. We're not going to see the same percentage gains as we've had in the past, because it would take collosal amounts of new money coming in to achieve it. Not to mention that last year bitcoin started to destroy it's network effect due to high fees. Merchants are abandoning bitcoin, but adopting alts. We are already at the stage where there are over a million transactions being done on the ethereum network alone. The money will move to an alt. Might be ether, might be ether + another alt. |
|
|
|
This is horrible advice. What logic suggests that bitcoin will ever set a new all time high again? Why do you think it's not a problem that bitcoin is not scalable and therefore can never become a universal currency? Why is it not a problem that transaction fees are absurdly high and take a long time? What about the fact that governments are cracking down and companies are banning crypto-related services and ads?
And most of all, what about the fact that there is now much greater competition among alt coins than there ever was in the past, making the crypto space infinitely inflationary? Why are none of these things an issue? Any one of these is enough reason for bitcoin to never reach its previous highs again. Honestly this decline is more than warranted. It should continue for quite a while and I don't see any reason to think it will ever recover. This is very different from in the past for all of the reasons I mentioned above.
For the record, I owned bitcoin for years and sold my last remaining btc at $17,700.
Agree. First of all bitcoin simply can't replicate the 9000% gains it's had in the past. It would require billions entering bitcoin to achieve that. Secondly, it's a red flag that merchants are dumping bitcoin, but enabling alts. It means that the network effect is switching from bitcoin towards alts. |
|
|
|
|
Show Posts
