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21  Economy / Speculation / Re: Has the correction ended? on: February 13, 2018, 02:14:35 AM
Let us try and understand what a ‘Correction’ is, and how we differentiate between a ‘Correction’ and a ‘Speculation’. According to experts say ‘A correction is a reverse movement, usually negative, of at least 10% in the price of a currency or index to adjust for an overvaluation’. So, we have witnessed multiple occasions in the past for corrections to happen. It's also equally important to understand the difference between “Speculation and Usage Demand”. Under normal circumstances, Bitcoin price rises simply due to “usage demand”. Since supply is limited, and people use Bitcoin as a store of long-term value, the price rises. And, as Bitcoin becomes a better means of transaction, the price rises. These are healthy, normal rises in value simply due to the fact that Bitcoin is precious and rare. However, there are less healthy rises where Bitcoin simply goes up because people think it is going up. This is “speculation”. The problem with speculative bubbles is that they are not backed by real usage, other than people's emotions, hunches, and gut-feelings. And so, eventually the tide changes - which usually happens when the rise starts to stall, and fear takes over. And as fear creates more fear, money starts to leave -- and the price is corrected back to the normal level. Usually it corrects back to a level below the normal level. Hence, it swings which can happen frequently within a given period of time.
22  Economy / Trading Discussion / Re: How long before decentralized exchanges become maintream? on: February 12, 2018, 11:58:36 PM
According to my instincts in the long run decentralized exchanges will rule the economy of the word as against their going to mainstream. Historically, crypto currency has paved the way for a true, decentralized network experience. But the way we buy our cryptos is almost as centralized as the way we buy and trade stocks. In a decentralized exchange, there is no third party that holds your money. You own your Ethereum or token until the moment you trade it. Centralized exchanges not only bring in institutions, but they bring in everyday people to the scene. They are very easy to use; one of the hardest things about Bitcoin to a new user is getting started. To the contrary, centralized exchanges function as a bank would. They are a third-party middleman that holds your funds within their own network. As the crypto-trading world matures many experienced users are turning to decentralized exchanges. Decentralized exchanges, however, are a bit more difficult to use. Most people who use them are experienced in the world of buying and selling . These exchanges are becoming more popular and stay true to the concept of Bitcoin and blockchain: Bitcoin, and many cryptokens, are decentralized currencies. So, it would make the most sense to use a decentralized exchange. In this kind of trade, the user owns his/her tokens in a digital wallet on their computer, and the money only leaves the user’s wallet when the trade commences. There is no need for a third party to hold the money for you, because the trade happens from user-to-user. Ethereum smart contracts and the blockchain create a “trustless escrow service,” making it the safest possible way to trade.
23  Bitcoin / Bitcoin Discussion / Re: What are ur btc tax plans on: February 12, 2018, 11:22:30 PM
Though Bitcoin is yet to be officially recognized in the country, the Reserve Bank of India has on three separate occasions put out risk warnings against investing in virtual currencies. In simple terms, there is no regulator when it comes to the status of cryptocurrencies in India. Even though Bitcoins are not specifically mentioned in the income tax act, Bitcoins are assets which are usually owned so holder can gain from an increase in its value. In that sense, they acquire the definition of capital gains. Which is a wide definition as per the Income Tax Act. One needs to pay tax on profits made from investing in Bitcoin. One should declare the income while filing taxes. Hence, my tax plans are to declare all that I earn from the world cryptocurrency while filing taxes for the current financial year.
24  Bitcoin / Bitcoin Discussion / Re: Japanese Crypto Investors To Pay Tax Of Up To 55 Percent On Profits 😱 on: February 12, 2018, 11:37:59 AM
This is the first year for Japan to earn on crypto taxes. based on the collection and the feedback from the investors, they may alter the tax rate in future or even change the framework. No reason to panic just as now because Japan is the first country to legalize crypto so we better have some patience before shouting anything false. However, There are tax slabs. Not everyone will have to pay 55% tax. Also the percentage of tax is on the profit amount and not on the entire holding. Only people with annual earnings of 40 million yen ($365,000) will have to pay this staggering amount. Otherwise the tax slab starts from 15% which is pretty manageable and lower than many other Asian countries. I feel sad for the rich investors though because 55% tax amount is just too high. But considering Japan is one of the most progressive nations of the world, will keep the door open for further discussion.
25  Bitcoin / Bitcoin Discussion / Re: US Gov gives cryptocurrency the green light - markets respond with an $83 billio on: February 12, 2018, 11:35:16 AM
According to my opinion the US government took a lot of significant steps to trigger the drop in last one month. However, the dip was triggered by false news spread by an organized power. But the current issue is that, neither US nor India said that they are going to ban the crypto currency completely nor they have said that they are legalizing it. Both countries represent a significant market share in crypto economy. It seems like both of them are taking middle lane as of now. On the same note as Chris Giancarlo of CFTC, the Finance Minister of India said on 1 February 2018, that bitcoin is not a legal tender in India and we don't encourage our citizens to use it. No one of them bluntly said that, they are banning crypto currency completely. Probably they want to judge the market and the technology completely before taking any certain decision, but it gives us a window of opportunity.
26  Bitcoin / Legal / Re: Demand for a legal investment fund? on: February 12, 2018, 11:30:16 AM
What I feel is until the law is loud and clear about crypto currency, I doubt anything of that sort will be coming to our way soon. I don't know about any other legal bitcoin investment fund apart from the CME group's future contract. I don't believe there are any other company is doing the same or have floated any investment fund based on crypto currency due to the complex or absent legislation. So if any company can start a legal investment fund that is fully managed in EU, it will fetch a billion dollar investment within the shortest period of time. Crypto currency market is very much un-regularized and a lot of scammers are trying get their hands wet here. So an EU based investment fund in crypto market which can accept international investment, can be a big success within the shortest possible time.
27  Bitcoin / Bitcoin Discussion / Re: What is the possibility happen to us when the bitcoin is gone on: February 12, 2018, 11:27:12 AM
According to me since no one knows what future holds for us. So open up your mind and invest in different assets. If not bitcoin, there will be other coins to make us rich and to make our dreams come true. Lets talk about blockchain here and not just about the bitcoin only. There are 1000s of crypto currency available nowadays. It's not just about bitcoin. It is just the pioneer on blockchain and hence most popular among others. So even if bitcoin is gone, another new currency will pop up quickly to take its place. That can be anything like Ripple or ETH or may be some other coin. So if you are an investor of crypto currency, I would suggest you to start diversifying into other coins as well. Remember, a magazine like Forbes recently listed out the top billionaires of crypto currency (not only bitcoin) and the top position has been awarded to Mr. Chris Larsen, the former CMD and co-founder of Ripple. Even the second place has been awarded to Mr. Joseph Lubin who is the co-founder of ETH. Bitcoin couldn't make to the top position.
28  Bitcoin / Bitcoin Discussion / Re: Is PoS what Bitcoin needs? Is Smart Contract ability what it needs? on: February 12, 2018, 11:22:24 AM
According to me if a change/addition of technology in bitcoin can help it survive and thrive, I will welcome it! However, it is an well known fact that "change is the only constant" and no new technology can survive without continuous augmentation and innovation. It's true that now we have so many advanced altcoins in the market, but being a pioneer, bitcoin is most popular coin. Again, bitcoin needs is stability and less strife if we want to see price over $500 this year. Arguing for a change to PoS was a tactic luke-jr used to scare miners from changing from Core to Classic. Changing to PoS or hybrid would require a hard fork. All proposing a change to PoW or the 21 million total cap would do is piss off holders. Investors have been upset enough with the hard fork wars.
29  Bitcoin / Bitcoin Discussion / Re: If you have to accept one, what will it be? on: February 12, 2018, 11:19:28 AM
I think, if government starts regulating bitcoin, I personally would prefer using some other coins like Litecoin or Dash. However, the greatest advantage of Bitcoin is its anonymity. due to this reason, many people prefer it. Now if government starts regulating Bitcoin, then I guess, many people will stop using it and the demand will decrease. If this happens, the it will have an adverse effect on its price. Now, if bitcoin become cheaper, many other people will loose interest in bitcoin too. The chain effect will start and will result a huge crash in price.
30  Bitcoin / Bitcoin Discussion / Re: Are so many cryptos good for the world? Or is it better to have only a few? on: February 12, 2018, 11:17:53 AM
I think around 10-12 currencies are better that having 674 different currencies and it will not threaten the existence of crypto currency world. Since the day I have entered in to the world of crypto currencies, I was shocked to see the numbers of available currencies. According to Coinmarketcap website, we now have 674 crypto currencies of various types which is more than the numbers of fiat. Every now and then I am seeing a new currency is being introduced. I think this way we are harming the security of crypto currency sector. If this continues, government will have to intervene someday just to stop the free distribution of money (power) in to the society. Also I see that the total crypto currency market size is 6,823,585,068 usd as per the above mentioned website and this huge amount of money is getting divided among these 674 currencies. The more people are moving to newer currencies, the lesser amount of money is getting circulated in to the established crypto currency trading, which in turn is decreasing the price of those currencies.
31  Bitcoin / Bitcoin Discussion / Re: Bitcoin ETF within the next 4 weeks on: February 12, 2018, 11:16:06 AM
The First Trust Bitcoin Strategy ETF, the First Trust Inverse Bitcoin Strategy ETF, the GraniteShares Bitcoin ETF, the GraniteShares Short Bitcoin ETF, the REX Bitcoin Strategy ETF and the REX Short Bitcoin Strategy ETF. The proposed rule changes were filed with the SEC between Dec. 15 and Dec. 19. The pace of the filings is notable given that Cboe launched its first bitcoin futures contracts 11 days ago, with the first of the ETF filing coming just days after the product first went live. Compared to past bitcoin-related ETF efforts, the six in question would track the performance of futures rather than the digital asset itself. That latter approach, seen in submissions like the long-running one from investors Cameron and Tyler Winklevoss, has run into repeated opposition from the SEC. The agency had cast a critical eye on the state of the cryptocurrency market when it rejected the Winklevoss ETF last spring, though the SEC has since moved to review of that decision.
32  Bitcoin / Bitcoin Discussion / Re: Would my bitcoins be worthless if miners would switch to bitcoin classic? on: February 12, 2018, 11:10:41 AM
I can say with total confidence, Bitcoin will never be worthless. I hope you know Angelina Jolie. Now whose movie you will prefer?? Original Jolie's or her look alike's? I have a very simple answer to your question. This way, Bitcoin can have many alternatives, but nothing can replace it really.  I can understand that the difficulty is increasing and solo miners and out of profit from some time now. But it has paved ways for new type of improvements and innovations. Instead of applying rocket science complexity to softfork bitcoin, core needs a simple 2MB hard fork. The bitcoins you have now on the blockchain would be secure. But the overall value of bitcoin will decline massively if the Classic coup is successful.
33  Bitcoin / Bitcoin Discussion / Re: bitcoin invest on: February 12, 2018, 11:06:27 AM
You may try and use website like BTCPOP or BTCJAM. They are basically p2p lending website where you give loan to someone who needs it. it's a crowd funding loan idea and worked well for me. I have using btcjam since last 4 months and earned quite a few bucks from here. in my opinion best way of investing bitcoin and making good profit from it is trading. especially trading altcoins. there are sometimes very good options in altcoin market where you can easily triple your investment in a short time. Remember, all investments have risk so invest what you can afford to lose. Also, stay away from ponzi schemes who tell you we will multiply your coin in some hours.
34  Bitcoin / Bitcoin Discussion / Re: Bitcoin-Credit Card on: February 12, 2018, 11:03:54 AM
You will have reason only the day when in the market there will be no more bitcoin debit card. Until that day, repeat that your's are only words. There is no any other third party in the case of Bitcoin credit card. I am not talking about bitcoin debit card (which even those exist, so are a fact, independently what must or can tell you and me about the trust). The bitcoin credit card (must do) work very differently compared to bitcoin debit card. See my previous post to see how work the bitcoin credit card, in which are used the bitcoins and you will see that the only person which have command on the bitcoin used by this credit card is only the owner of the credit card (and the bitcoins). No one other. No any kind of third party. But even without the above explanation the fact about the existence of bitcoin debit card mean that your word about the trust and the other things are only word. The reality is another. And the reality is over all the parties.
35  Bitcoin / Bitcoin Discussion / Re: $55 Million for Blockstream to build out Bitcoin! on: February 12, 2018, 11:00:33 AM
Great news!! $55 Million is not a joke and it's huge amount to invest in a technology. That shows the trust of the loyal fans of bitcoin and also shows the future potential is huge. Good news indeed! Before we get too excited about this, let's first find out who these venture capital firms are.... Anyone have more details on  AXA Group; Digital Garage and Horizons Ventures? I tried to Google them and find very little information. I like the roadmap for the Blockstream development more than the Bitcoin Classic proposal, but I would like to know a bit more about the people pushing for the Blockstream and their motives behind that... You do not invest that kind of money, if you not expecting some kind of return on it. Congratz Blockstream.
36  Bitcoin / Bitcoin Discussion / Re: Bitcoin transaction fees over the last 2 years on: February 12, 2018, 10:57:40 AM
It has been an excellent resource! Will help a lot of people looking for answers about the fees. When the hash rate is increasing between difficulty retargets we see blocks being solved more quickly. Instead of, say, 10 minutes on average we see blocks taking 9 minutes, so this means there's more capacity available to handle transactions. This reduces the pressure on transactions and therefore means that it's much more likely that low or zero fee transactions will get included in blocks by block makers (because they don't have anything better to do with the block space). Keep up the good work!
37  Economy / Exchanges / Re: Shift Payments Bitcoin Debit Card, my experince on: February 12, 2018, 10:55:49 AM
Sorry to hear that. However, I do not reside in USA. Make a video for youtube. Got things to know. Can you please let us know the website link from where we can also take the card? Is there any country restrictions? Please share the youtube link so that we can also check. So $10 USD for the card. The card came yesterday in the mail  Grin. Today went into Wal-Mart and got 2 cans of chicken noodle soup and some Pepsi. Now the test it this card going to really work. I slide the card and 5 sec. later it worked. So for the first time use was great. Great Knowing i was able to get the card and stuff at the store from a home mining. Something I wanted st share.
38  Bitcoin / Bitcoin Discussion / Re: Use cases. What do you actually use Bitcoin for? on: February 12, 2018, 10:52:23 AM
Practically speaking I am earning bitcoin for the need of savings. Bitcoin is pioneer in the Crypto Currency world and having an enormous value for the future. So I am just gathering the BTC now and I have no intention to sell it anytime soon. Also, there is whole lot of knowledge to be gathered along with making money. Thing knowledge will be cultivable in moments of crisis in Bitcoin.
39  Bitcoin / Bitcoin Discussion / Re: 3 years i accumulated 10 btc, but now, i not have idea...suggestion? on: February 12, 2018, 10:49:15 AM
Try and store your bitcoins in a safe place and use it for your future savings. Considering the difficulty, the solo mining is not anymore profitable. I don't know how much you have spent to gather 10 BTC..but holding is the best investment as of now. Don''t go for "get rich quick" schemes and you may end up loosing it all. Bitcoin price will definitely get doubled within some years. At that point of time, the more the merrier rule will apply.
40  Bitcoin / Bitcoin Discussion / Re: Breaking: CNBC - Banking syndicate has been organized to TAKE OVER Bitcoin! on: February 11, 2018, 10:59:37 PM
Experts call for caution about digital currencies, such as bitcoin and Ethereum, but financial firms are considering adopting them or even establishing their own. News of the 23-year-old, Russian-born programmer’s demise was soon proved false – but not before 20%, or roughly $4bn, had been wiped from Ethereum’s soaring market value. That's certainly worrying..But they will have many disadvantages as well.Banks are regulated entity. so they can't create a decentralized currency. They will have to employ proper accounting system for that. They will have to keep track of every single transaction. So they will never have the anonymity what bitcoin enjoys. So a lot of people will simple not indulge in to this.
But the most worrying part is that, if the banks are started using blockchain technology to create their own currency...we will soon see an influx of fiat currency in to the organized and regulated market which will decrease the value of traditional currency which will in turn make the people poorer, especially those who have never experienced the crypto world.
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