I was aware of that one, but the context of the newer statement is completely different. Saying that people will be laughed at for using fiat sounds like someone who's pretty damn bullish on Bitcoin as payment option.

Sure, he's maybe overly optimistic here, but saying that fiat will only be used by criminals has a more serious tint to it, and pretty much makes us all a criminal in his book, because no one here will stop using fiat because it works extremely well.

Overall, people use that what's convenient, and there just isn't a way that his most recent statement holds any value at all, very desperate and an attempt to get himself in the media again.

Most likely scenario is that a payment processor will be used for the conversion, so there isn't much for the seller(s) to lose here when it comes to depth or volatility. It has been done like this for quite a long period of time now.

Overall, if you have something for sale, and you just want to get fiat, you'll accept any crypto currency that your payment processor accepts. Can't blame people for trying to reach as many rich crypto fanboys at once.

That's definitely a good thing, and another advantage that comes with these pre-installed client applications is that the competition between clients will be upped a notch or two.

I am currently using the Electrum mobile client, but it should do something about its UI, and that also applies to most other reputable clients. I get it that security is the most important thing, but come on, UI is also important.

It may sound ridiculous, but people really choose clients based on how they look, and most of these pretty UI clients are simple to understand and use, which is another department where reputable clients lack.

It was a rejection, nothing more nothing less. I was expecting it to happen before it happened, and it did. Admittedly, it was a large red candle on the daily chart, but it found support at the exact level of the first pump.

What I will be paying attention to is how the Ethereum fork plays out. Bitcoin will definitely mirror Ethereum's move based on what's going to happen there. I would say $4000 test best case scenario for Bitcoin, and $3500 test worst case.

Unfortunately, that's not a good thing.

I think this is the first time he made a statement like that, which is likely why people went a bit too hard on him. It shows that even the wealthiest entities in this industry are pretty normal and some times overly anti state.

At least he has been very consistent with his price targets throughout the years, which can't be said about the far majority of the so called experts and multi millionaires constantly adjusting their target based on the flow of the market.

People will stop believing him the moment they start losing money, but the thing is that there are so many newbies entering crypto on a daily basis, that he always finds new people to trick.

I want social media platforms actively take down these shill accounts, because it's legit a problem, regardless of who the one shilling them is. I think with time we'll see it become reality. It just needs to become even more of a problem.

John McAfee once claimed that his Twitter account was hacked and that it were hackers shilling ICOs and not himself. It's so funny if you think about it, the security 'expert' got hacked (if true), that's pretty deep.

People mostly assume that there are like 2000 altcoins in existence based on what Coinmarketcap indicates, but that's not even half of what exits, and it might not even be a 10th in the grand scheme of things.

Binance once stated that they received listing applications of over 5000 projects, so imagine how many of these they had to reject and for that reason don't make it to Coinmarketcap.

That's also one of the reasons Bitcoin's market cap dominance isn't a helpful metric. In the coming years there will be so many coins and tokens added to Coinmarketcap that Bitcoin's market cap dominance will tank below 25%.

It's just a matter of time at the end of the day, and I'm pretty sure that we're very close to tighter regulations and insured platforms, but what we can't change is how people think about crypto in general.

If most people are still using it solely for speculative purposes, it's going to be difficult to expect anything to change in the coming 5 or so years. I hope it will, but what has changed in the previous 10 years in that field?

10 years further and the market is still as speculative as it has always been. To add, we'll be dealing with governmental competition as well, because they aren't going to let their fiat currencies stay as they are.

Stablecoins and tokenization of fiat currencies is what will provide that competition.

It's different for each person, but fundamentals matter when it comes to my hodl stack, which I won't be touching in the coming 5-10 years. I rather spend some of it where by that time I assume that the adoption has taken off significantly.

I'm not much of a trader myself, but when I do plan to go long or short it will be based on technical analysis, because there isn't much else to focus on. It's either that or blindly opening positions depending on luck alone.

On the other hand, fundamentals could matter in the near term if you know that there is an upgrade very near, which we can clearly see affect Ethereum's price positively. It also offers a good sell the news opportunity which I plan to utilize.

I think it's safe to say that the price hovering between $4000-$6000 is actually a solid range considering how we haven't anything going on right now, but even this "low" range is very hard to maintain.

Realistically speaking I don't think we're done with $3xxx levels yet. If you look back at past increases, there has always been some sort of a pullback, and I think that we're due for one after being rejected around the $4300 mark.

The only 'good' thing about the recent increase is that people wake up happy, the bad thing however is that it forms a solid counter opportunity when it comes to shorting people's excitement. We'll see what happens.

It's definitely not a recovery. I want to see the market test levels over $4300 before I can start to look at what might happen next. As long as we don't break that level, the rejection following will tank the price back to sub $4000 levels.

Overall, people should stop focusing on 2017s all time high because of the madness that was going on back then. We don't have that retarded level of demand emptying the spot market anymore.

Currently we're dealing with people selling to secure even the smallest profit percentages, and that's very difficult to buy through without something sparking a rally. Conservative is what we should be, because we've been fooled before....

I'm sure governments would love to ban it, but they understand that it's too late for that right now. It might have been successful back in 2010-2012 with how small this ecosystem was back then.

Right now governments have seen what the consequences for banning Bitcoin are--people stop using centralized services and start figuring out how the local market works and massively inflate the volumes there.

There is nothing worse for governments than seeing people go local with their business. From having control over the centralized ecosystem you go to no control at all. Governments won't make that mistake again.

I don't think the market is still valuing an ETF anymore, because if it did, it would have reacted to VanEck and SolidX withdrawing their proposal, and I'm actually happy with that.

The market has been played long enough based on empty ETF speculation. It worked at the very beginning, but when even average joes start to notice movements based on ETF news, you can be sure that it stops working.

Fundamental growth is what we should be paying attention to, and not something like an ETF that won't be approved in the coming two or so years. The SEC has been more than clear. Accept it....

I'm not so sure of that. The same applies to CSW where people assume that he holds a giant amount of Bitcoin, while no one here knows what his addresses are. It's all speculation at the end of the day.

Both CSW and John McAfee know how to trick social media thinking that they have skin in the game, but if you discard what they say and look at their actions, not much is left of them.

People with the lowest number of coins speculate about insane price levels to feel rich, while those who actually have a ton of coins mostly remain conservative. It makes sense as well if you think about it.

The job opportunities are fairly limited and heavily dependent on what market cycle we're going through since everything depends on what crypto does. Not much of a stable foundation for job creation.

Currently we're seeing a lot of start-ups lay off a large part of their developers and support because it's just not viable anymore at current prices. If this continues, we can expect things to get worse in this aspect, and that's obviously not a good thing.

I hope we can see more stability in this field, but that's difficult to imagine with how speculation is still the most important aspect of this market. Can't wait for use to pick up and gain an upper hand in the whole crypto space.

It is to a large extent, but no one is forcing people to buy signals or retarded courses that cost a few hundred dollars easily. Based on that I would say that people allow themselves to be manipulated.

It reminds me of how certain forex groups have tens of thousands of members all having bought a subscription. You can steer these people to a certain asset and long or short it based on your preferred levels.

People are too stupid to understand that these "gurus" selling information wouldn't need to sell anything if they were so good at trading. People need to lose money in order to figure that out I guess.

That might be true, but a lot gambling sites hire non professional people from forums or well known members of their own community. These people have more time to dedicate to support, and are much cheaper in general.

Exchanges look for professionals and they have to pay them based on their set of skills. It's rather difficult to employ a large enough support department with thousands of emails coming in on a daily basis.

I'm using a smaller local exchanging service for almost a year now intensively, and they are very swift with their support. Even account verification was completed within 1 business day. It would take several days with any of the current exchanges.

@proTECH77

LB volumes of Nigera are ok, but nothing like what news outlets wanted you believe. Locally it might be seen as a lot, but it's peanuts in the grand scheme of things, and I don't see this change any time soon.

https://coin.dance/volume/localbitcoins/NGN

If you look at their volumes, it peaked in 2017 during the mania, but has been seeing a steady decline to where we are today. Other shaky countries see increasing LB volumes, Nigeria's volumes go down....

My point basically is that what news outlets say are crypto hotspots, in reality are not that at all.

I hope so. Binance as far as I know still uses legacy addresses, and so do a few other large exchanges. If they finally hop on board, the rate of SegWit adoption will increase and the fees decrease.

If Coinbase can utilize SegWit swiftly, there is no reason other exchanges won't be able to do the same. Obviously, the services Roger and Bitmain are involved in won't be allowed to upgrade, but that's their loss at the end of the day.

I saw a review of the BlueWallet for LN and will give it a try this weekend. Hope that the current state of the network routes the payments more reliably than the last time I tried sending LN transactions.

It's more so that noobs are back thinking that the bear market is over and the price will reach $20k before the end of the year. Once you see this form of euphoria it's very likely that we're due to a leg down.

With the weekend coming up and the volumes going down it's going to be difficult maintaining the $3900 mark. My best 'educated' guess is that ~$3500 is going to be what we're looking for before the end of next week.