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No, it was "not" always a scam. Bitcoin is in every way legit. It was the people who created altcoin that also turns to be the one who destroyed it. And bitcoin reputation suffers because of that.
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crypto value is measured basically by acceptance and how big the community is. Having said that, btc being the first generally commands more followers and since it is the first, we have been using it as a benchmark to measure value of other cryptocurrencies against bitcoin. Also most of the cryptos technology are based on the bitcoin protocol and even though there has been some change or enhancement to make it better like the anonymous feature, somehow people still go back and stick to bitcoin. Exception there is of course like for instance monero but somehow people still regard bitcoin as being more important.
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I always believe volatility is the main reason on why it hinders widespread business and mass retail adoption. However, having said that, I don't think the current price drop is well-connected to the volatility issue. I mean volatility has been there all these while and why is it that suddenly you can see the price tanking so fast. Although I can't find a valid reason to justify what we see, there must be a very huge whale bending on seeing bitcoin fails. I don't know. I could be wrong. Could be other reasons that miners have maybe found a place where electricity is so cheap that they can churn daily bitcoin stock with almost close to zero cost input. Like I said, I don't know the main reason, but there must be an external factor and something big going on.
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Well, I read the whole article. Basically what it says is true. We need to give people a good and valid reason to use bitcoin. If you can buy everything you need with fiat then why bother to change to bitcoin to make the same purchase. In fact, when I tried to promote bitcoin with the decentralized concept and how governments have little control over it, people would just stare at me. I changed my approach to store of value but the price thing hasn't been supportive of my statement. Later I come to terms to sell the idea that says... hey it looks cool to have this currency that you can store anywhere, low fee cross border transaction and these start to make sense.
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Looks like the price is on the downtrend. I expected it to breach 300 usd towards the weekend and then progress upwards further but instead have made a u-turn. Who knows what is going to happen next. Would rather wait for now.
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Look for bitcoin price alert which I find very useful. There are quite a number of apps for this.
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In order to make it happen, you need to convince the big whales. A group of small fish won't be able to make any difference. Hardly that will make any dent on the price market. And who knows what the whales are thinking at the moment. I believe there are far bigger conspiracy like fiat financial institutions banding together to make that happen.
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Wow, let's see what comes out of this. Since he intends to survive a week solely on bitcoin, hopefully he won't find any trouble on spending and getting supply. In the end, I believe a good review is very important to reach mainstream.
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The problem here is we want anonymity and at the same time apply regulations and control to it. However, both of it doesn't mix together and we have to choose either one. If one needs to apply regulations and some form of control to at least catch the culprit when stealing occurs, then we just have to do away with anonymity. I could be wrong here. Let's hear from some others.
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No way I'm going to provide my details for any bitcoin related transactions. If I'm required to do that, what makes the difference between using fiat anyway.
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Most of you know that I am an unashamed Bitcoin bull and have been so for a while now, but I think we are on the verge of some exciting times. This Bitstamp issue might actually be a huge blessing in disguise. It comes on the cusp of some major advertising for Bitcoin with the widely viewed Bitcoin Bowl and a good presence at CES this week just to name a couple things. Roger Ver is bringing some press on the main page of Yahoo today (and on Business Insider) indirectly for not being allowed in the US, but it is press nonetheless. And these are just a few small things on the top of my head. With the price undervalued right now (which I believe firmly that it is) It won't take much for the price to rebound. That said, I feel strongly it is "when" and not "if" Bitstamp resumes operations, the price will jump and it will surprise all these newbies on the sidelines. When they see the price move as quickly as some of us know the Bitcoin price can move, they will decide to throw some money in because they don't want to miss out. That is how these bubbles begin. It will just build from there. People throw in a little money, they see how much they earn in a week and they throw in more and so it goes. How high will the price reach this time? Well that is debatable of course, but easily back to the ATH we achieved before. So I feel like I am watching a storm in the distance and waiting for it to approach.  Hopefully it is a tsunami and not just a few rain drops. Not this time tough, been monitoring the price since the bitstamp hack occurs and the highest it ever gets in the past week was like probably close to 300 but not even there. It's now slowly retracing back the previous low. I can see it will be moving lower this time round if it drops. |
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Why the rush? Just sit tight and watch. Even if misses the boom, there will be another one coming up. The most important thing is finding the right signal to enter trade, when you have most confidence it's the right decision.
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To newbies, once you realize that you can earn much more from other means with the same amount of time, eventually you will give up faucet. I started everything from faucet, people that I personally know also begin their journey from there but one advice is that once you get the hang out of it, think of other more productive methods to make bitcoin. There are a lot more that you will ever find out.
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Nice concept and idea. If it can work something like an escrow service without requiring 3rd party involvement and additional fees, then it should be fine.
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You can try to trade active pair of cryptos like for instance btc-xrp, btc-doge. Buy low, sell high, but make sure you know what you are doing. Probably safer than with other investment because basically the worst is you will just end up with the other cryptos.
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The one I use (for notifying change in address balance) is bitcoinmonitor.net. I don't know if it may work for you, but if you know the address the transaction was sent to, I figure you can set it that way.
thanks! that is really useful for me does anyone know something like this but as an android app? I don't remember coming across an app just like that before but usually what I did was that when I hear the ka-ching sound on my wallet, I'll just refer the transaction id on blockchain to find out how many confirmation it already has. |
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The problem with hacking is that people leave vulnerabilities around for hackers to exploit. passwords kept in email or left in simple place, computers connected to network all the time with trial applications installed all the time, people leaving their money in online wallet which they don't have private keys to it and the list goes on and on. Bitcoin is safe and It is close to impossible to hack.. Period.
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No doubt it's btc here as it is virtually the first crypto which everyone knows about and it becomes the standard benchmark when comparing among cryptocurrencies. Also look and compare on the size of community. It's the number of support from the community that makes it strong.
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What makes ponzi schemes connected solely to bitcoin? It seems to taint btc reputation and in fact, there are even more ponzi based on fiat. If it is too good to be true, avoid it.
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I waiting to see what would be the impact on the price when the 100 billion mark has been reached. Surely this would be something positive.
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