There is definitely an accumulation phase that the pumpers go through, before they pump. See the following video: https://www.youtube.com/watch?v=EG8PU6_-734They do it by placing small buy orders at low prices (as a market maker), because they don't actually want to move the market while accumulating. Once they've got enough they start pumping by buying as a taker, to move it up. |
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I supposed BTC Gold would be a rocketing currency. But the drop by 70% showed all my predictions were nothing!! Why???
It's a rubbish pre-mined coin with no purpose and people are dumping their airdropped coins. |
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In the 2013 bubble we went from $200 to $1000.
This time we've gone from $1000 in january to $6000 - so a much BIGGER move. On that basis, yes it's a bit of a bubble, it's risen faster than adoption, and will fall back. Take some profits people.
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https://www.cnbc.com/2017/10/24/why-everyones-talking-about-bitcoin-and-zimbabwe.htmlA surge in demand for digital currency in Zimbabwe has highlighted an interesting quirk in the trading of bitcoin, as well as the current economic woes the African country is facing.
"Zimbabwe panic sends bitcoin soaring over $6,000?" asked a report on one cryptocurrency website over the weekend. While the answer is clearly no — there's not enough trade in Zimbabwe to impact the price — it does hint at two issues.
Firstly, Zimbabwe appears to be facing some serious currency concerns again.
After the hyperinflation of 2008, the country adopted the U.S. dollar as its own. But a scarcity of greenbacks means a crisp new $100 bill can reportedly trade at a premium and is worth more than the digital dollars that people have in their bank accounts. They're also trading at a higher price to the Zimbabwe "bond notes" that the government recently introduced. These are a domestic quasi-currency that looked to solve the lack of U.S. dollars in the country.
Now there's a "debilitating liquidity crunch and an acute cash shortage," according to the Zimbabwe Independent newspaper Friday, which has "severely crippled companies which need to import critical inputs for operations."
The Middle East's The National newspaper summed it up the other day: "This time (in Zimbabwe) the issue is not too much money — it is that there is too little. Because the reserve bank cannot print U.S. dollars itself — the U.S. alone can do that — it must rely on imported cash."
With concerns over currency, it's no surprise that the stock market is at record highs with people seeking any sort of haven. It's also no surprise that bitcoin is trading at a near $400 premium in the country. At local exchange Golix it was trading at $9,899 over the weekend. Golix has itself posted a blog on how capital controls and restrictions in the country are causing people to flock to bitcoin.
Nonetheless, this big price difference for bitcoin also highlights the second issue. Different jurisdictions having different currency rules will mean some price quirks. The knock-on effect? It will allow arbitrage trading — exploiting price differences between similar financial instruments. And with various countries around the world looking at state control for bitcoin, such as charging taxes on it, I'd expect more of these price peculiarities to appear.
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I was wrong about Altcoins. I was assuming great return after fork, but still they drop. A bit recovery occured after fork but this did not meet my expectation. I am still holding a lot alts hope they will survive and give me good returns in November
It's because there is another upcoming fork in November and people arn't sure how it will play out. (it might not end up with two chains but simply one bitcoin chain.) |
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Bitcoingold was a bit of a scam, taking advantage of people who wanted free coins and who imagined that it would be like bitcoincash.
The gold developers are so clueless, they are begging to hire people who can do replay protection - which goes to show that they're opportunistic marketers rather than genuine developers.
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Rather than selling on etsy, you could try selling on a platform like Peerhub: https://www.peerhub.com/It depends very much on who your customers are - if they are cryptocurrency nerds, peerhub might suit you better. |
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Today most alts are going sharply up, after this another BTC fork story. This will continue for some time, alts will go back to previus levels.
Alts got oversold, so it was inevitable that they would go back up again. |
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They're a good idea - but the problem is that not many people use them, and hence they have low liquidity. The main reason people use Poloniex and Bittrex is because of the high liquidity.
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I checked the price of several altcoins where value dropped 20-30x since June:
BTS, ZCL, LBC.
Perhaps these are the safest buys.
any ideas?
The main reason Bitshares dropped was because Bittrex delisted them. Poloniex still has them listed though. |
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Poloniex has decided not to support it: https://poloniex.com/press-releases/2017.10.24-Notice-About-Bitcoin-Gold/We have received inquiries about Bitcoin Gold and whether we intend to support it. Until the software is released for review, we cannot commit to distribution nor can we pledge to support it. The reason for this is that we cannot be certain about the security and stability of the software, nor the state or health of the network prior to launch. Further, regardless of what the project team behind the new token may assert to the exchanges prior to launch, we must be confident that a blockchain token does not require dangerous and questionable activities in order to support it.
We've stated in the past that the safety of our users' tokens is our chief concern. As such, we have refused to support a forked token unless it had implemented replay protection. We would like to further urge our users to be immensely cautious of any token that expects to be given private keys that control value on another blockchain. This is dangerous and unnecessary, even for an alt like BTG that seeks to distribute tokens using the state of an existing blockchain. Kraken and Coinbase have refused to support it for the same reason. |
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The only place where you can trade it is Yobit. The other exchanges are wary because it has no replay protection. |
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Saw those 200k+ pre-mined coins were supposed to sell into the ICO?
pre-mined seems like a scam to make the DEV fifty rich, and ICO? is this a double scam thing? is this even legal?
200k BTG is 20k BTC = 115,560,000 US Dollars at current market rate, for real?
The pre-mine is legal. What may be on the shady side is the developers calling it a fork. It is just an air drop with the developers having a pre-mine as interest. if the price goes to zero quickly, their coins will be worthless. They've called it a fork deliberately to confuse people into thinking this was the segwit2x fork. That's the reason for the timing of it. |
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Alts have already started to rise. The only flaw with your strategy is waiting till 21 hours before the fork. You need to do it earlier when prices really are at rock bottom.
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I agree. I think it's started - if you look at Poloniex, the lending rates for bitcoin have shot up, and people only borrow bitcoin when they want to buy alts on margin. |
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I'm not sure what the point of bitcoingold is.
Bitcoincash had the 8mg blocks without segwit (so satoshi's old code with added blocksize).
Bitcoin has segwit
Segwit2x will have segwit with bigger blocks
What's the point of bitcongold?
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Hello
so i am aware of the hard fork that generated BTC cash and the hard fork that will generate BTC gold, but what confuses me is the prices and market caps that these coins gains so fast !!
i was here when BTC cash is forked, in the first hours it reached 10B market cap !!
does that mean that the whole cryptocurrency market increased 10B ??
is it like 10B $ just transferred to the crypto world from fiat ??
Because it's a fork, there are a lot of existing coins in circulation. Whereas a brand new coin will only have a few coins in circulation, and hence their market cap will be lower, regardless of the price per coin. |
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Poloniex has a HUGE backlog of tickets they're working through. Someone of reddit finally got one resolved that he'd opened in June! If you arn't making any headway, make a reddit account and then send a private message with your ticket number to https://www.reddit.com/user/Mike-Poloniex |
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So the btc price has taken a bit of a dive on Yobit when the btg trading opened up. Does anythink that the prices will come down on other exchanges like this?
I honestly didn't think btg would move the price of btc at all.
The bitcoin price drop has nothing to do with bitcoingold. It's just people profit taking (and is happening on all the exchanges) |
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