Its probably not the best strategy to sell when everyone else is panicking and selling. You can read the memoirs and guide of any investor book, all successful investors buy when the price is low. WE cna speculate all we want about the Chinese intentions, including creating a low entry point for themselves as they felt that they missed the boat.

The reality is that if you believe in the fundamentals of bitcoin and crypto, now is a good discount on prices that we are having. Do note that short USD (expecting USD to fall) is also one of the most crowded bank trade at the moment. Any USD related invesment is probably not the wisesest either.

Thanks OK for a very educated approach to Dimon's comment. I would say that Dimon is being a contratian here due to the hype from the rising crypto prices, and you might dislike the man but he does have the guts.

I'm certainly a proponent for crypto and to me such open discussions created by Dimon is neccessary to strengthen crypto. It can't be just all hype and celebration, negative and sceptical views must and should be entertained.

To his comment, I'll do see the tulips mania being quite different from crypto, whoch actually has exchange value. But only time will tell whether Dimon os even partially right.

Haha hold does Charlie's tweet be attributed to a drop in bitcoin price? His tweet makes a satire of the recent China ICO debacle, and encourages people to keep the bitcoins and not sell.

Charlie started litecoin and was a cofounder of coinbase. Plus on the of greatest advocate of segwit and lightning network. He definitely is supportive of the potential of crypto, not the opposite.

It depends on where you have an edge above others. Stocks, crypto, currency, commodities trading are all hugely profitable if you have an edge.

So if you understand crypto markets better than the average chump on the street, and keep developing that edge with constant research and involvement in crypto, I would say u will have a fair standing in making a comfortable profit in crypto. Same applies to any other market.

Unlikely, though you did bring up a valid concern and its worth the possibility of extreme price volatility. The same concept as why a stock can be worthless would apply to bitcoin: when bitcoin has no further use and utility to anyone, and hence no value. I dont see that happening in the foreseeable future, through I do hope for the sake of the ecosystem that a crypto will progress and perhaps one day bitcoin will be obsolete. The good thing is that by then, most people would have seen the trend coming and it will be a gradual shift of wealth from one crypto to another, rather then a sudden plunge in bitcoin.

It could be true that China is manipulating the cryptomarkets but so what? There are many large states and corporations involved in manipulating financial markets, from forex (HSBC, BNP) to commodities (OPEC) to stocks. That unfortunately is the real world. It tis then up to the individual investor to choose whether or not to get involve, and understanding that while these markets could be manipulation, what opportunities could it offer? I'm sure many people are enjoying the dips as buying opportunities created by larger forces, and since we can't beat them, might as well join them in the game they have created.

To me the greatest advantage is that it is anonymous and can work across the world. Anonymity is not necessarily for illegal activity, it also helps with privacy concerns. Why should we be giving out our personal particulars to every single web merchant online? It is dangerous, data can be hacked and we do not know what our personal data will be used for.

Secondly, credit cards may not work across all online merchant, and some do not have payment facilities. This is where bitcoin is useful again, as there is little infrastructure setup cost to pay through bitcoin.

So there's certainly a utility for bitcoin in online payments.

Japan is really great with new technology. This is really healthy for the bitcoin ecosystem and to get an established player like DMM in the field speaks alot for the future of bitcoin.

I have no doubt that more companies will be jumping on the bandwagon soon.

Take the approach to price as any other stock investor: Do the due diligence, come to a firm conclusion on the value of your investment and then buy low, sell high. If you don't believe in the tech and value of bitcoin, then every price drop will scare the hell out of you.

This latest price drop was due to another "ban crypto" attempt from China. The question is, given the technology, can anyone truely control a distributed cryptocurrency? Then you will understand why each drop has been temporary and the bounce comes in really quick. Money is still coming in from fundamental investors who are buying low with a view of selling high.

So you will need to shape your persective of your own investing philospohy and then you will understand why these price drop scare you so much.

China's actions will definitely be seen as a watermark for more monetary policy conservative nation worried about capital controls and their foreign exchange reserves. However, China is also unique in that it in on the extreme end of policy conversativeness and will always err towards being heavy handed in their policy decisions. Even then, the current ban action is a temporary one while they analyse their next step towards regulating the ICO space. This makes for a very uncertain investment climate and no one, including the Chinese, will like that to continue for long.

Regarding the other more pro-investment and "westernised" nations, I do see a more calibrated approach to regulation. My take is that regulation will certainly occur, but to what extent and the severity of it will depend on individual countries. Bottomline is that all countries want investment dollar and in the end economics, including crytoeconomics, will still win in the long term.

That's not true, you probably need to understand how exchanges have price fluctuations, especially in low liquidity situations. A small seller or group of sellers can depress the price significantly, even if they represent a small portion of coin holders. Everyone else could just be holding on to their coins and there could also be few buyers in the market, resulting in a sudden drop cause by a small group of people in a short space of time.

This is probably what happened after the China gov annoucement, with people in asia and china panic selling their coins in small amounts but due to the short period of time, drying up existing liquidity and causing price to drop dramatically in the exchanges. Such activity will usually result in a hard bounce once normal trading activity resumes, which is exactly what happened after the panic - immediate price recovery.

Definitely a great idea to get crypto into gaming; its almost the same target audience. And there are so many icos in gaming: game credits, hash rush, mobilego...

The only question is then why hasn't it taken off in a big way? I can see two factora: transaction times and ease of use.

A gamer will not want to wait 15 minutes before getting his level 900 weapon, especially when a credit card transaction is processed mich faster. Unless the coin could do off blockchain condirmation, this will forever be a stumbling block. And secondly, established industry players already use credits like steam and Xbox there is just no impetus for change.

While I agree monetary policy is a problem, it's not a problem for bitcoin, it's a problem for the entire crypto-world. So what if bitcoin didn't fork, anyone could switch bitcoin into the next-big-fad altcoin and you will get another 10 million marketcap coin in an instant! Talk about hyperinflation. My own perspective, though I might be wrong, is that the crypto world will eventually equilibrate and that monetary policy might not be that big an issue moving forward. Altcoins still depend on fiat for conversion and goverments are doing the sensible thing of regulation to study the effects of crypto on the monetary system. It waits to be seen, but I do feel that the endgame might not result in a price crash but rather a survival-of-the-fittest kind of scenario where most altcoins just fade into history.

OP what kind if scam are u cautious of? If it's the simple sale of goods or servives, then use a trusted escrow ( transaction intermediary) and only release your funds when your receive what you pay for. There are tons of scams around, you can heads over to the goods and service section of the forum to get a feel. It also helps to hve a conversation with both the seller and buyers, just to find out what the experiences were like.

Back to OP's original question of how Bitcoin has performed in financial crisis, the exact terminology is "asset corelation", whereby there is an assessment of whether the fall or rise in one asset class (EG stocks) will be mirrored by another asset class (gold). Hence there are safehaven assets that are not correlated with traditional investment assets. An example will be gold, which isn't really affected by swings in the stock, currency or bond markets.

Bitcoin does exhibit behaviour similar to gold in that is does not correlate to the movements of stock, bond or currency marlet, hence it does have some merit as a safe haven asset. However unlike gold, there is still a large degree of inherent volatility in bitcoin and crypto in general and only when volatility has decreased, will fund managers truly see bitcoin as an investment safe haven.

Judging from the time you posted, you seemed to have intentionally or luckily entered at a significant dip in the markets due to the China ICO suspension. So you are in good standing, just continue dollar cost averaging in during dips and crashes and you'll be fine. Enjoy the time in the forum as well!

Let me help with the translation:

1. The previous translations are spot on. However, minor point is that it does not mention bitcoin or ethereum per say, but applies to all crytocurrencies or tokens.

2. Same. ICOs in progress/completed must refund investors.

3. Same.  Exchanges not allowed.

4. Same. Banks and financial institutions are not allowed to be involved in crypto.

5. ICO investors bear all losses in any event.

6. Warning to financial institutions not to get involved in cryptocurrency or else... (typical chinese paternalism)

Bitcoin really isn't an object of mystery, it has been around for so many years. From an investment persepective, we should focus less on the tech and more on the function/applicability of the technology, and that's where bitcoin is going strong. It has strong community backing, proven resilience to forks and continuous improvements, plus is it the defacto cryptocurrency backing most of the alts out there in the market. That probably wouldnt change in the next year or two.

I would credit the dark web for partially contributing to the rise of bitcoin. It was a hugely utilized decentralized currency then, evident by the fall in BTC price when silkroad got busted. Thankfully after that it went into mainstream and due to the momentum it already had with a strong community behind it, the rest was history. The community really made it into what it is today.

Yes just did a couple of segwit transactions with my ledger, had quite some apprehension doing the switch to a segwit address but all went well. And a similar good experience with lite-coin switching to segwit addresses but was dealing with larger sums in btc so had more fear in switching over to segwit