Latest posts of: magneto

I'd say that despite the fact that I don't believe in XRP in the long run, it's going to be a good bet for 2020.

The fact that institutional investors are likely going to be the driving fundamentals that supports the bull run upcoming is a signal that tokens that involve themselves with financial intermediaries are likely going to prosper. And that includes XRP. Even though they are centralised, there will be still significant demand.

Also, I'm long on IOTA. I believe that they've done a lot in terms of evolving their product and partnerships, and time will show.

If you want to bet on a single stock doing much better above the rest of the market, that makes you a racist?

It's a completely invalid argument and comparison, and a desperate one in my opinion.

Besides, bitcoin dominance rising does not help his case. BTC is proven to be the favourite coin for institutional investors because of its relative stability and history compared to the rest, and that is a fact, not opinion.

If they actually fulfill some form of utility, then absolutely.

However, the point here is that the vast majority of coins that are dead in the first place do not have any utility to speak about. The only example that negate this phenomenon I can remember is probably Factom, and you can argue that coin was never dead in the first place.

From a short term trader's perspective, it doesn't even matter what coin you support or not, as long as you can profit off it.

Quote from: otto93 on October 29, 2019, 03:55:06 AM

As an investor or bounty hunter, you have dedicated either your funds or time for a pjoject and it turns out to be a fail project, what next?

Many at times we have come across this situations and I see a lot of negative posts from different bodies about this projects, y? Because people are hurt and have lost precious time and capital.

I suggest that whenever this situations arise, rather than telling the whole world how you messed up, tell yourself never again and pick up your pieces, go back to the drawing board and never repeat 🔂 that same action that lead you to following and supporting a failed / scam project in the first place.

Beware guys!

Do your due diligence before you do anything. That's my advice.

Remember that when you are doing bounties, what you are doing is essentially selling your labour in exchange for a reward. You obviously want to ensure that that reward is proportional to the effort that you put in - and to protect your own interests, you MUST do sufficient research before deciding to go with a bounty campaign.

I've seen too many people being asked KYC after their campaign ended, or end up with worthless tokens at the end of bounty campaigns.

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“Bitcoin will not help the people. It will help the politicians because they are the filthy rich ones who have access to money,” one anonymous bitcoin trader with family in Lebanon told CoinDesk. He uses a European bank account to buy bitcoin, then sends it to people on the ground in Lebanon.

“It [bitcoin] could help them, perhaps, if they were sitting at home with 24 hours worth of electricity and internet, and they could work online to get paid for their online work. That’s a utopian scenario,” he added. “In Lebanon, the internet is very expensive. Electricity doesn’t come often. We sometimes have electricity for just six hours a day.”

Sure, perhaps it will help the rich as well, even potentially to a greater extent than the unbanked.

However, does that mean that BTC has no use to the unbanked and underbanked internationally? I don't personally perceive that as a valid argument - just because it may benefit another group doesn't mean that the grassroot adopters can't be helped.

Besides, there are services that have started long ago that allow people to store BTC without any internet connection. It's a matter of adoption.

It's common for people to panic dump when the sentiment is bearish, and panic buy out of the fear of missing out when prices are going through the roof. That is the natural instinct of all traders, who are irrational by nature.

And don't think that this is just a newbie thing - it's not. Even seasoned traders can be affected by this.

Set yourself a clear target and try follow it - it won't work all the time but at least you are able to take profit when necessary.

Personally, I would not expect the magnitudes of rallies that we saw in 2017.

That was back when bitcoin market cap and total crypto market cap was still very low, so a small injection of funds into the market can essentially be leveraged into much higher percentage returns. Now that markets are more mature and market caps are significantly higher, I don't see this happening.

But the bearish sentiment should subside soon. We've seen a real bounce from the $7.5k level, which is a great sign.

I honestly don't know why people are getting excited over the Chinese news involving Xi's stance on progressing blockchain development. It is clear that they are trying to implement and develop their own set of protocols and potentially have a currency hosted on a blockchain, not to adopt bitcoin.

Otherwise, why would they still uphold the other restrictions on bitcoin exchanges and businesses?

Makes no sense. Markets are FOMOing on news that is irrelevant.

I personally don't see short term profits as a viable way of measuring the store of value aspects of a certain asset or currency.

You'd still have to analyse things from the long term, and from the fundamentals. It doesn't matter whether or not fluctuations in the short term affect bitcoin price positively or negatively.

At the end of the day, the reason why BTC has intrinsic value and will hold its value better than fiat is because of the fact that it has a capped supply and a controlled emission curve, something that fiats do not have by definition.

Satoshi has nothing to do with bitcoin now.

The bitcoin ecosystem has survived the better half of a decade without Satoshi's intervention, which is good in the way of decentralisation anyway. I don't know why you believe that somehow BTC will die after this.

Even with quantum computers, bitcoin can simply fork to adjust its algorithm to a quantum resistant one.

Sign a message from an address that holds 50 BTC, or no one will take you seriously.

And I don't get why you're saying 'once again'. Just checked your post history and there is nothing that would suggest you have offered these 1-50 BTC loans in the past or anything of that sort.

And why keep it private? As a lender you want negotiations to be public don't you?

Hey, I'd like to review your service if possible. Lmk if I'm in:

My BTC address: bc1q8krxuhjzd88kjg9uuq9urfzngemjfm6vzmny69

Thanks!

I'm just wondering whether or not you guys are actually firm on the anonymity.

Because we've seen what other instant exchangers have done. Exchanges like changenow have initially used their anonymity as a marketing point, but later on they started withholding transactions for the apparent purpose of KYC and started to identify users on a random basis.

So are you guys potentially going to go down to that path as well? If yes, then you should let everyone know, because stating that you are anonymous when you are not fully so can be construed as misleading advertising.

All I can say is lmfao.

This is one delusional man. Even with all of the institutional adoption that goes on, and in the best of the best scenarios, bitcoin will not hit the heights that he is predicting.

Only in the very, very long run will this even be a possibility, due to fiat depreciation. But even that would require a hyperinflationary scenario to come to fruition. He is clearly doing this for the media props.

Initially thought that this topic was pure BS based on the title alone, but I think your hypothesis might actually be true.

I've personally heard from multiple people who try to recoup their losses (some successful, some others not so much) on their long positions on BTC by trying to make it back via gambling. Especially when people trade on leverage, they are much more prone to that.

So yes, the risk is higher. However, from a casino standpoint, their net revenue might be lower in terms of USD nonetheless due to the bear market scenario that we are assuming to be true.

The title should be more accurately reflected as "don't overreact to fluctuations".

Why? Because reacting to market movements is good. It means that your position on BTC is not stagnant, but rather is dynamic as market developments comes into play.

Otherwise, you're essentially the same as the gold bugs that held gold without taking into account what period or what cycle they are a part of, which is completely irrational in itself.

Yeah, it's nothing new. But it's gotten more sophisticated from the last time I saw such a scam.

Every time there is a wallet maintenance, mass amounts of unconfirmed withdrawals/deposits, or any sort of bug on Yobit, there seems to be a host of these scammers that are just out there trying to target people. I've grown convinced that they may actually be doing this full time, as a job.

It also happens on other exchanges, but to a lesser extent since you can't send PMs on most exchanges.

I thought the clippers were gonig to be strong favourites... Somehow they lost to the worst team in the league with the Suns. Big Lol.

Congrats to all of the players who bet moneyline on the suns, I guess. Clippers are likely to going to have games like these without PG13, but Kawhi should have really done a better job today given the circumstances.

This also makes me think that Suns are going to be vastly improved, they're 2-1 now and I don't think that's by accident.

With yields so low it's clear as day that capital is going to be getting out of these traditional low risk asset classes once economic growth picks up.

Obviously with economic growth still low right now there isn't a lot of confidence within the marketplace, which I think is a primary reason why BTC right now isn't FOMOing as hard as it should be anyhow.

The Fed will likely continue to lower their funds rate to newer lows, which would stand to benefit any sort of speculative asset in the short term (not saying that BTC is one in the long run).

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“Maybe Bitcoin is a partial store of value but it’s not a unit of account, it’s not a means of payment, it’s not scalable [...] in spite of its rally earlier this year, it’s lost 60% in value since it’s peak, so I don’t see it going anywhere frankly.”

Sounds like a whole lot of BS to me.

Does he even know what a unit of account is? A unit of account can be anything, it can even be commodities. Are you saying that you can't account for liabilities and assets with BTC? It has nothing to do with even whether or not it can store value - it is a unit of account.

Also, why associate bitcoin's short term movements to something that is the fundamentals of BTC? The two should be separated given how volatile bitcoin can be, yet the fundamentals show that BTC should store its value better than fiats will in the long run.