|
Another mistake of common phenomenon is greediness to turn $5 to $50 wthij a matter of days without any effort just to put it in a site then come in the next 5 days to see it has turned to their dream value which in most case not like that. Another is the ability to trust early this is something common in dealing with either individual or a site based on previous trust garnered without doing a further research whether the trust is still standing or crushed.
|
|
|
|
Before bitcoin will get to the point where the effect of its fall or rise will affect the economy in no small way, there would have been enough buffer to cushion the effect of volatility and that's where the importance of a regulatory body. It might not necessarily be central banks because that would negate on founding pricnple of bitcoin as it would mean retuning control to those who led us here at first. I feel the market itself would have been so spread to allow such to happen. It could lead to a very heavy financial instability!
Imagine within a certain country everyone had exchanged its fiat money to bitcoin and the price is for example $5,000 at that time. Now imagine the bitcoin price drops (for whatever reason) to $1,000 and the central bank of that country can not intervene. This would mean that all citizens lost 80% value of their money! A horror scenario!
I can not foresee such horror opportunities, but I would not introduce Bitcoin into people's daily lives. The fact is that the Crypto-currency is the finance for a certain Circle of people and a certain sphere of the life activity of mankind, since it can be either an investment or an opportunity to keep your money. But nothing more. |
|
|
|
Probably legal, I do not see anything strange that could make such a thing illegal. Most of the answers here are also legal, meaning many think that selling bitcoins with cash is legal. I do not know for sure, but it seems legal.
Like someone have rightly said, it depends majorly on the type of country over here, even though the country government have not made their position known, I have seen several entrepreneurs owning shops where they buy and sell e-currency and no one is disturbing them because even the law enforcements agencies probably don't have any idea about what they are doing and they are making their money without engaging in anything illegal. |
|
|
|
Which government from which country are you specifically point towards? I'm quite sure ultimately there will be government that can accept and advocate the concept of BTC and when the rest have seen what BTC could do, they might change their mind afterwards as well. Even China is not banning ICO outright (who doesn't love money?), ICO will still be back after they have sort out all the regulations and rule, to make ICO better eventually!
My point of thinking as well because from the look of things the "winning" that the government seems to have is being handed over to them by the players in the industry that tend to create panics and that winning will even be short lived the moment the market is back in place then they realise that their attack can only shake us but not drown us. |
|
|
|
|
Whether Satoshi is back or not, I don't think it matter any longer because this project has grown beyond an individual and whether Craig is Satoshi or not its left for the major stakeholders in the industry to be the deciding factor here and which they are not even ready to do which means he still has a lot of conviction to do for them to take him serious.
|
|
|
|
Bitcoin was sailing along nicely yesterday and apart from the usual technical issues that accompany Bitcoin and other alts there was generally a positive outlook for Bitcoin. Suddenly the markets went crazy when the rumors came out that China would ban Exchanges from trading in Bitcoin. Personally I am getting fed up with China news having such a big influence on Bitcoin. Nobody knows now for the next few days now what is likely to happen and whether Bitcoin will fall hard should this rumor turn out to be true. What will be the result? - a significant fall followed by longer term stability perhaps. Either way we can't keep having this uncertainty if Bitcoin is going to get acceptance in the general community.
I think I will agree that they should just leave bitcoin alone and everything that have to do with it but that will even come at a cost and aside the issue of exchanges that are dominated in China, another concern is the issue of mining activities becayse that alone if shut down by the Chinese government could mean an end to the whole process or even distort the chain by the time new bitcoins are not mined and transactions are not confirming as at when due. |
|
|
|
i see bitcoin cash price is growing so much after china ban.
is it because BCC still supported in China after ICO ban?
How much do you think BCC price will be within next week?
Whatever happen, we always try to give it a reason. Every coin will have its own up and down and if same thing is happening to BCH, I don't see the need for the attention of noise. The promoters whether Chinese or Americans have done their part to be left in the hands of the traders who are either pumping or dumping either way, I still agree to the earlier poster, that BTC is still the first option of them all. |
|
|
|
The question still remains; How do we really know the best time to "Enter" on certain coin and when to "Exit"? That is what really slowing us down because nobody wants to lose money on the market. We all want to play the ball with the big whales.  but the question is how? These questions separate an expert in pump and dump from someone who is following the tide in which majority of us belong to this class. It is a known fact that we all wished to buy low and sell high but knowing the right time or what will happen next is another issue of concern for a group of pumpers and dumpers, this is not the case as they know when to enter and exit the market no matter what will happen next after their decision, |
|
|
|
Maybe this is a bit phylosophical topic, but the other day I was wondering at which Bitcoin amount it doesn't matter anymore if you're getting more Bitcoin, since you can't exchange it to fiat.
Example:
At the current price of app. 4500 $ per BTC you can exchange to fiat:
100 BTC = 450.000 $ / no problem
1.000 BTC = 4.500.000 $ / a bit of problem
10.000 BTC = 45.000.000 $ / a problem
100.000 BTC = 450.000.000 $ / a big problem
...
See where I'm going? And that's at the current price. I could get even more interesting when the price will be 10.000 $ per Bitcoin or even more.
How do you exchange 45M$? or 450M? So does it make any difference if you hodl 10.000 BTC or 100.000 BTC, since you can't exchange it to fiat anyway without raising suspicion, even if you're very well connected?
What would be the breaking or maybe maximum point of Bitcoin still exhangeable to fiat?
What's your take on that?
Even using majorly fiat, there is a limit to the amount you can move at once without providing an explanation both as an individual or as an organisation and those that move huge amount, there are already laid down rules and regulations to achieve that. Even if government decides to legalize bitcoin, there would still be some level of restriction on the maximum that would be flagged. For now, I think the equivalent of $10000 maximum can be moved without any issue. |
|
|
|
Already looks like the price is recovering and this is only the proof that this wasn't some dramatic dump but correction that was usual for volatility process. There is big chance to get to the 5000$ soon and it seems that Bitcoin goes through various issues (like this one with China) faster and with less consequences than before.
For the fact that btc touched $5000 before is a confirmation that it can again and its one the surest thing anyone can ask me and even looking at price not too long ago it shows this is certain to happen anytime soon and even some exchanges are taking the lead to ensure it happens that way. Lets hope and this time, its not only going to reach $5000 but will surpass it with ease. |
|
|
|
In 2013, I wished I was an early bird who bought BTC in 2009. In 2017, nevermind. Thank God I bought 4 years ago Actually, same in 2020  There is no need over flogging the issue because even if you had bought then, you would have sold because of the difficulty bitcoin would have faced at the time before it became what it is today. A lot of people are having the same regret but it doesn't mean they would have taken a different decision to invest if we had to reverse time. What I see if of essence is moving forward from here into the future. |
|
|
|
Initially that would be a normal reaction. A country bans bitcoin, weak hands dump. Then they realize that bitcoin is unaffected by those bans, they buy back. Government can't control bitcoin and bitcoin will remain functioning even if more countries try to control or ban it.
I think there is a bigger force at play here because anytime there is a news around, it does not just start affecting the direction of price but all of a sudden, someone just dump and others starts following at the end of the day the ones who lost out will wished they never dumped in the first instance. The news in itself is not bad and I don't think government is winning at the moment. |
|
|
|
in this forum we have the same chance to be able to get bitcoin even with different background and skill.
which is my question is why at first when we first know our bitcoin eagerly surge, day and night are always online, but when it reaches the level of senior level member it is saggy, what tips do you use so we keep the spirit in collecting purse bitcoin purse?
What really happens is that, at that stage of getting to higher rank mostly Legendary, you have almost seen it all in my opinion and at that rank, you would have created a working mechanism for yourself maybe a blog, a site, graphics, trade, gambling, managing campaigns, escrows etc which makes you not to be always active unlike during the lower rank days. |
|
|
|
You're trying to act smart with your theories, OP, but you've failed to do your research. In just the last year Bitcoins value has increased from $500 to almost $5000. Wrong, the price has reached $1000 in 2013 and remained above $600 for at least 5 months in 2014, so it's not like it went from $500 to $5000 in a year. It actually took 14 months straight since the last ~$500 point in 2016, but it was obvious people oversold in 2015 when they allowed the price to go below $200. You had to be crazy to sell at those prices.Also, according to you early buyers like Andreas are the ponzi masterminds, convincing people to buy. So all those huge investors, companies, millionaires, they are all listening to Andreas, Roger and all the other geeky early adopters, right? They don't have their own brains and haven't done any research, they need to read nerd stories on reddit to know where to put their millions... I'm out. The bolded part is one important place that the media always shy away from by focusing on only the part of movement without considering the amount of time it took as well as crashes that happen along the way in other to get to the point they are focusing on the same thing Op is doing. I am sure you must be happy with your analogy based on the current price but unfortunately the reason why the price is showing a downward trend is not one the reasons you alluded and could be traced to something that holds tight. |
|
|
|
|
ICOs have been abused and thanks to developers who are only concerned by their pockets all they do is have a nice graphics then create a token or a coin based on the existing platforms and also investors too blinded by their own selfish interest of looking for when it will be listed so that they will make abnormal profit in as much as I am not happy about this, because it affects the entire crypto industry as well as the legitimate ICOs with plan to solve a problem, government of China have said its own and the rest is on us the active participants on how we react to it.
|
|
|
|
You can already see the effects of the ban in the price of bitcoin an Eth. I suspect a downward trend at least for the next week or two, I fear a lot for eth.
ETH will be the most hit because most ICOs relies on its token issusance and that makes it demand so high that even push the price beyond the static position it was several months ago. At the same time, its a blow on the whole crypto but some coins are holding forth than some others and the only thing we can hope is for things to stabilize so it wont affect other ICOs to the extent of crashing the entire market. |
|
|
|
Outirght banning will be wrong and its because they feel they cannot control it and even after reading the English version of the release from the Chinese authority, it connotes they are being handicapped in controlling the ways funds moved into ICOs and felt banning it will solve but I tell you, its a matter of days before all this will be put behind us and everything will be back to normal. |
|
|
|
we all know that the only reason why ETH went up in first place is a combination of pumping and ICOs.
now that China announced ICOs illegal and put and end to their existence a huge chunk of the investors in ICOs will go away and also people are going to be more afraid now that ICO is officially illegal. so they won't invest in any.
the ICOs so far will also probably cash out their ETH soon.
what will you think will be the future of Ethereum without ICOs to pump it?
how low will it crash?
Although the news came as a shock and the entire market reacted to it badly and even ongoing ICOs may even be hit badly and feel it much more than the already completed ones but I feel its just another attack that is bound to happen and if this is being recovered from, another one is around the corner that's how its going to be. But Chinese people reactions needs to be seen more than the way its being portrayed because when they found out that news from their end is not affecting bitcoin, they attack the next popular coin which is ETH and indirectly affects bitcoin. |
|
|
|
Hi all, I recently bought 0.933 BTC at $4,620 (had to pay $4,840/BTC off localbitcoin) and I thought I had made the right decision as the market seemed to have stabilised after the sell off at $5k. I'm just wondering, how far is this likely to go? I've seen the graph (linked below) that is projected $3,500 by tomorrow; which wouldn't surprise me at the moment, but projects that by the end of this year the price will hit $10k? I'm fully aware Bitcoin is far stronger than it ever was before the previous dips, but where do you guys see the price being in a month or so? I'm a HODLER so I'm not worried short term but long term is this likely to get back over $5k? The split in November, the recent fake news about the co founder of Ethereum's death and the lawsuit against empty blocks on Bitmain are making me worry somewhat. Any comments? Thanks If you are a holder, then you are an optimist and never backed down on that. Also, take your mind away from the charts because that could be source of discouragement by checking every now and then. Also, you should know by default the price could go sideways at any point in time and this is what you have signed up to but don't worry, its a set back but not a pushdown as the rising up is coming soon. |
|
|
|
The whole market needs to relax a bit. The response to this ICO stuff is ridiculously overblown. In the long run a bit of regulation will be good news for crypto. Scam ICOs will get weeded out and only genuine projects will be allowed. The current ban is just an initial response, it's not banning all new coins forever.
I really don't understand the news surrounding this ban of ICOs and even bitcoin is already feeling the cold of such as we can in its price taking a downward turn. What even surprises me was that when USA came with their own policy, the noise was not as much as this until this happen but at the same time I am optimistic that this will open another opportunity to identify a crypto friendly country. |
|
|
|
|
Show Posts
