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1881  Bitcoin / Press / Re: [2019-03-28] The Economist: Bitcoin revival unlikely.... on: April 01, 2019, 12:03:48 AM
A cap on supply encourages hoarding, it also opens bitcoin to the problem of sustainability of security on fees alone. I predict that this might become another major crisis in bitcoin.

I don't see that as a problem at all. Miners will become way more efficient with how technology continues to improve, and they will eventually generate their own energy, which decreases operational cost even further.

Side chains aren't of much importance right now, but they will be as time goes by. Miners can merge mine side chains and scoop up the fees of these side chains too, so that's one more income stream for them. I strongly believe that side chain fees due to their volumes may potentially be way more rewarding than the main chain fees in the future.

As for the hoarding part; hoarding makes Bitcoin more valuable and makes satoshi fees become more valuable too, so more income for the miners.
1882  Bitcoin / Press / Re: [2019-03-29] Canadian Municipality Set to Accept Bitcoin for Property Tax Paymen on: March 31, 2019, 11:19:21 PM
Paying your taxes with Bitcoin is a convenient way for the ignorant Bitcoin enthusiasts to expose their coin holdings, because Bitcoin is super anonymous, right? Roll Eyes

What people consider a positive development is a gold mine for governments to figure out who owns crypto, and whether or not you have been declaring your profits and holdings in all honesty. I always pay my taxes in fiat and will continue doing so.
1883  Economy / Trading Discussion / Re: 95% fake volume :) on: March 31, 2019, 10:52:13 PM
It more of shows and confirms the real colors of those exchanges that fake their trading volume just to show up higher on the Coinmarketcap trading pairs and to show up higher on exchange rankings by trading volume.
This is saddening to say the least if these alleged manipulations are true. But what do you mean by the words I bolded and underlined in your sentence by the double use, almost conflicting in meaning. Could you throw more light on that?

What he is referring to is how exchanges are artificially inflating their volumes to gain a higher rank on CMC, which is by far the most popular market cap/exchange data site. Higher rank on CMC means you're more likely to attract new users, and with your (fake) high volumes you can demand a premium for coin listings on your exchange.

The same applies to coins listed on the first page (which consists of 100 coins) of CMC, because being listed on the first page means more exposure for you as coin. Search engines also work like that. How often do people click on the second and third page? Most people focus just on what they see on the first page.

People made CMC super popular to beging with, and now they complain about their way of displaying data? They have always been like this. Don't use something you don't like, it's that simple.
1884  Economy / Trading Discussion / Re: Here we are! lovers' of bullish trend. on: March 31, 2019, 10:31:33 PM
Remember that dude from early 2017 who lost a pile of cash trying to short Bitcoin? This was a wake-up call for all the shorters out there (read, the price can in fact explode to insane levels in less than no time as it did in the past many times). Everyone and his grandma should stay away from naked shorts at all costs at all times

I don't know what dude you're referring to who lost big time shorting Bitcoin in 2017, but it was a year completely different from where we are today. One doesn't short against a bullish trend and hold that position open for so long, because you're basically wrecking yourself here, just like those who were long in 2018 believing a recovery to $20,000 was due.

Every trend has its so called confirmations of market behavior, either bullish or bearish, and when you ignore these confirmations, you're asking for problems, it's that simple.
1885  Bitcoin / Bitcoin Discussion / Re: STOP FOLLOWING BITCOIN WITH SENTIMENTS! on: March 31, 2019, 12:25:47 PM
They are rich which means they can buy more coins therfor following what they say is a good idea because if they say that the price will going to pump , they also do something to make it happen  . while other regular individuals that loves to speculate and make predictions are likely going to fail because they cannot back their claims   .  bitcoin is about sentiments so why stop follwing sentiments when sentiments is the main reason about the price change ?

Being rich is meaningless unless you're a market mover on one or more Bitcoin exchanges.

Mike Novogratz is the perfect example of how being rich doesn't yield you anything when you have no clue about how irrational this space really is. He is a perma bull who got rekt hard, personally and professionally. Imagine how many institutions invested just because this fly-by guru told them that this market would explode in 2018.

Tom Lee is also a multi millionaire, yet his predictions were all shit. I'm not sure if he actually invests in Bitcoin, but if he did, he is rekt too.

One thing these so called experts and gurus have in common is that they only speculate and not build to make this space a better and more useful place. Parasites they are. Fuck them. Enjoy your expensive bags.
1886  Bitcoin / Press / Re: [2019-03-30] Bithumb, leading Korean exchange, hacked again?! on: March 31, 2019, 12:09:54 PM
I remember an interview with CEO Brian Armstrong where he said that he doesn't have access to any of Coinbase's cold wallets. In order to gain access to these funds, different members within Coinbase have to sign.

It's cool and all that cold wallets are being secured properly, but hacks and insider thefts most of the times concern hot wallets, and these hot wallets can be emptied by every employee who knows where to dig.

In most cases when it concerns insider thefts, you see that before the actual theft the hot wallet has been topped up (in some cases topped up beyond their regular top up amount) and then emptied.

The far majority of the exchanges turning shit are from Asia, and that doesn't surprise me at all with how they continuously cheat and lie to attract users. Seriously, the only legitimate exchange within Asia is BitFlyer, where the rest is utter garbage, so we should expect more of the same in the forthcoming years.
1887  Bitcoin / Press / Re: [2019-03-29] Canadian Oil Companies are [Somehow] Mining Bitcoin on: March 31, 2019, 11:40:51 AM
I'm not sure to what extent these alternative mining solutions are being utilized, but it could makes sense if we look at how Bitcoin's hashrate fluctuates with a massive 10-15eh/s, and that consistently for months straight.

Right now we're on the lower side of 40eh/s as total network hashrate, where in a day or two we'll be seeing it jump back up to over 50eh/s to then fall back to 40eh/s. At this scale it isn't normal mining behavior, but very likely points at different uses for the power that's being utilized.

It's impossible to figure out who does what, but it's certainly an interesting topic to follow.
1888  Economy / Speculation / Re: Is there any TA guys you trust? on: March 30, 2019, 11:29:45 PM
I heard someone recently state a win ratio of 60% but thats something exceptional I guess, most are probably much closer to 50% if not below.

It all depends on how that person trades. If we look back at Bitcoin's history or any other market in general, certain patterns tend to have a higher percentage potential to break out to the up or down side, and these type of break outs are what traders are waiting for.

Last year's descending triangle statistically had a higher percentage potential to break out to the down side, and it did. People shorting it just based on that did extremely well.

Currently we're doing the exact opposite with an ascending triangle, which statistically has a higher percentage potential to break out to the up side. I am already accumulating, but I'll try to put in a long just before it breaks out, and that's a trade based on a better overall probability.
1889  Economy / Speculation / Re: Bitcoin in the Event of a Global Economic Crisis on: March 30, 2019, 10:40:43 PM
When it comes, I'd rather have Bitcoin than not.

Same here. I am honestly not sure what will happen with Bitcoin when a crisis hits the world in terms of value, but there just isn't a way to hedge against it when you know there is a possibility that everything will go down hard.

I can only try to hedge against my government and its shitty fiat currency that keeps going down in value, and that for me is more than enough protection. Bitcoin is a must have in your portfolio nowadays, but not everyone understands that yet. If people did, Bitcoin would be trading closer to $100,000 by now, so we have more time to accumulate at fair prices. Smiley
1890  Economy / Trading Discussion / Re: minimise possible losses in trading on: March 30, 2019, 03:49:07 PM
You can definitely make constant daily profits in a bear market situation. If you have got in-depth knowledge about the market and the price movements then you can make some profits even in difficult market situation.

Constant daily profits? The best legacy traders in the world with the best sources of information acknowledge that they some times lose for weeks straight, and you think it's possible to profit every single day in a market that's super shaky? Right. Roll Eyes

I have seen so many people claim that trading is such a fun thing to do and that it allows them to make x % per day, yet they continue to complain about prices going down. Every semi ok trader doesn't care about the direction; volatility is all that matters for them.

In the end, traders don't even care about what coin or asset they trade. As long as there is a decent level of liquidity available, they are ready to go.
1891  Economy / Trading Discussion / Re: Here we are! lovers' of bullish trend. on: March 30, 2019, 03:20:48 PM
However,  this is a personal views and not recommendation to invest.  I have been in this market for sometimes now and I hope we make more money by buying at the right time!

You can also make more money by shorting at the right time, which has been the most profitable thing to do for over a year. Sure, at one point the trend will reverse, but we need confirmations first, and when we finally have these confirmations, you can always go long after that.

If you think logically, we won't be seeing the price explode to insane levels. Just like how Bitcoin offered great shorting opportunities for such a long period of time, so will you have more than enough long opportunities when we're trending up.
1892  Economy / Exchanges / Re: Gemini is full on with native SegWit!!! (And uses Blockstream's block explorer on: March 30, 2019, 01:37:11 PM
I think if more exchanges would adopt it, growth will be in the 60% range.

I think that Binance on its own will be able to lift the rate of Segwit adoption with 5% due to how big and popular they are. If anyone has a Twitter account, ask CZ on Twitter @cz_binance when they plan to upgrade to Segwit. The more people do so, the more likely it is that he (the CEO) will pick it up.

Does anyone here who gambles from time to time know if the most popular gambling sites already utilize Segwit? With gambling being such a big industry (has always been so) they potentially could be pushing Segwit adoption past 75%.
1893  Economy / Exchanges / Re: Why Bitsane Exchange Is One Of The Top Exchange in Europe? on: March 30, 2019, 01:19:13 PM
very funny, you are asking your customers to make KYC, but you who are anonymous? how would your future client feel when sending a passport to a site where the owner of the site is someone anonymous?

KYC is a joke. I can set up an exchange right now and ask people to KYC verify themselves. It's not only a convenient attempt to satisfy regulators and keep them at distance, but also a way to sell this data to whoever wants to buy it (not implying Bitsane is doing the same). Verified user profiles in general could be worth $100-$200 depending on how much data they contain, so there is a lot to gain here if there are tens of thousands of users to virtually rob them off their privacy.

In the end, Binance seem to have a similar structure. They are hidden behind a whois privacy wall, yet we know who operates the exchange. As long as they continue to operate without too many complaints, it's fair to assume that they are an ok exchange to use. Their volumes aren't overly inflated like other shitcoin exchanges who want to score big very fast, which is a good thing too.
1894  Bitcoin / Press / Re: [2019-03-28] Bitcoin Exchange Coinbene Swears it Wasn’t Hacked: Traders Fear the on: March 30, 2019, 09:56:34 AM
The only way I think they get away with is that they have a real balance that is perfectly in order where the numbers are correct with only the real trades, and what we see happening on our screens are trades that are just for visitors, in their accounting, they aren't showing up anywhere.

No matter what jurisdiction they go they must present an income sheet at the end of the fiscal year, and when this is messed by 10x-20x you're in trouble.


The thing here is that their trading volume is public, and their fee structure is public. In other words, what you see is what you get, and in case Binance presents different numbers, I am quite certain that whoever is responsible for the legal actions in Malta, will dig into it because it's considered fraudulent activity.

On the other hand, it may be that in Malta you don't have to pay tax over that what is being generated in Bitcoin and other crypto currencies (assuming it's not converted to fiat afterwards). It's not for nothing that Binance, the crypto to crypto exchange, is different from Binance Jersey, the crypto to fiat exchange.

CZ (CEO of Binance) definitely knows how to play this game. Interesting is that he was CTO of OKCoin, now known as OKEx, an exchange known for very shady activity.
1895  Bitcoin / Press / Re: [2019-03-28] The Economist: Bitcoin revival unlikely.... on: March 30, 2019, 09:32:35 AM
One that limits bitcoin from mainstream adoption is the 21 million cap on supply.

It really doesn't. The more valuable Bitcoin becomes, the more people start paying attention to satoshi units, and there is plenty enough of that to serve people in every corner of the world. On top of that, Lightning makes even satoshi units divisible, so there is even less unit scarcity than people think.

I have been playing with Lightning for over a month now due to all the new features mobile wallets added, and it's way easier to work with satoshi units than with 0.0000 whatever part of a Bitcoin. By the time Bitcoin has risen so much in value, we won't be saying 1BTC is worth $1 million for example, but a penny per satoshi.
1896  Economy / Trading Discussion / Re: Crypto friendly Banks that wont still your money the complete list for 2019 on: March 29, 2019, 02:26:05 PM
Just another useless thread. I didn't even bother reading what you posted after reading the title of the thread. Why would someone want "banks" if they are using crypto currencies. Wasn't crypto currencies made to get rid of these disgusting banking system where they rip off people? You lose your financial freedom if financial institutions get involved.
Making a crypto currency banking system will just make the whole crypto currency thing centralized.

If crypto is made to get rid of banks, and you totally agree with that (which seems to be the case from what I read), then I assume that you stopped using centralized exchanges, centralized wallet services, etc. Is that right? There is no difference between a bank and something like Coinbase.

I see Bitcoin as freedom. It's up to the people themselves to decide what to do with it. If they want to use a centralized service, then so be it. It's their money and it's their risk at the end of the day. The last thing we need here is people telling others what crypto is made for and that they shouldn't use banks. Smh.
1897  Economy / Trading Discussion / Re: CloneStorm Trader - A platform that is different! on: March 29, 2019, 01:49:55 PM
I do appreciate the up front honesty, but the terms are super shitty. If we look around for other sites offering a similar service, they ask some times less some times more, but the difference is that you don't have to hand over a chunk of your profits.

Your site asks for 15-25% of people's profits (which I believe is super greedy), where on top of that, assuming people pay their taxes, they have to swallow a 25-50% hit on top of that, which makes your service even less attractive.
1898  Economy / Economics / Re: South Africa, leading world in crypto adoption, a high-potential crypto market? on: March 29, 2019, 12:48:00 PM
South Africa is a very unstable country, with a high probability of political instability. Also, the high crime rate means that a disproportionate amount of BTC may make its way to the dark market.

African countries with unstable governments is exactly why Bitcoin is such an amazing alternative. If these countries weren't unstable, the economies there were thriving, why would they need Bitcoin? Bitcoin is an answer to these and many more problems.

As for the dark markets, who cares? Criminals, regardless of where they are, use that whatever offers them the most privacy and convenience. Bitcoin certainly offers convenience, but it sucks hard in the privacy department. It's way more likely that criminals prefer coins like Monero for their illegal activities. Bitcoin's popularity amongst criminals is taking a dive in the deep, and this is just the beginning. Even mainstream media outlets start to figure that out.

Africa as continent offers a lot of potential with how certain countries within that continent made a major jump in terms of technology. People here tend to understimate them, but they just like we enjoy our daily use of our mobile phones, they have mobile phones they can use in combination with crypto too.
1899  Economy / Speculation / Re: BTC might do something nice soon. TA only ( No crystal Ball/s) on: March 29, 2019, 10:54:07 AM
The charts look similar because of how bots have nothing but the past to fall back on, so in that regard it makes sense that things rhyme, especially without anything in the near term to spark more spontaneous buying that lifts the price above crucial resistance levels.

For now I expect more boring market activity with how the strong support and resistance levels are coming closer to each other every day that goes by. It's waiting for a strong move either up or down, and I think that's a good thing because of how we get to know more about who is actually in charge in the very short term.

All I know is that my main target to short is somewhere between the $4500-$5000 zone with how sellers are lining up to unload some coins.
1900  Economy / Speculation / Re: This has happened in the past! on: March 29, 2019, 10:09:22 AM
It's not the difficulty, anyone can buy BTC at the current price.

I'm certain he refers to Bitcoin becoming harder to buy into as whole 1BTC unit for the average person, which is true. Sure, one could say that you don't have to buy a whole Bitcoin, but people will chase after the highest possible achievement, and that's to actually own that whole Bitcoin.

I usually don't recommend people to buy x amount worth of something, but that whole Bitcoin unit is super tempting for people, so go for it if you have the funds freely available and you for sure know that you won't be needing it in the forthcoming years. If you don't have a hardware wallet already, buy one and store it safely and be part of the elite one day.  Smiley
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