Hopefully eth price does drop further and ETC goes up to where ETH is at at the moment. I think soon enough both are destined to fail but at least hopefully i can squeeze the last bit of profit out of it that i can.
Ethereum has got a life after hard fork, and I think now it does not have any chance to go to sub $1 , and ETC is copying ETH, I cannot say that it will have any future as it does not represent a unique image but just a copy of ETH and competing ETH. How is ETC copying ETH? ETC is the original, unaltered chain. ETH is the corrupted version of ETC after the special interests changed the rules to roll back the money they lost. ETC was ETH before ETH changed itself. |
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For the users whose claim rates have been reduced, are you using an app to access the website or accessing it directly from your mobile browser? Can you also pm me your user id's.
I'm using it in the mobile browser, and the rate suddenly halved a couple days ago. The listed payouts show this as well: 0-9885 = 166 sats currently, so it's not like it's advertising the old amounts and then paying out half that. I believe it was in the 360s previously. |
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So bitcoins to you are a fad  Highly unlikely as those other things mentioned were valuable to the "collectors" but bitcoin is of value to everybody as everybody I know "collects" money. It is the exact same value to everybody at that given time of the exchange. I totally agree.Bitcoin has value to everyone and given its high price it is more valuable than gold. You cant earn gold directly but you van earn,buy or mine bitcoin You sem to be unaware that gold is mined as well. Also, it's not an apple-to-apples comparison, but anyway you slice it, it doesn't seem Bitcoin is more valuable than gold. An ounce of gold is worth far more a Bitcoin, and the aggregate value of gold is immensely more than the market cap of Bitcoin. So not sure how you're making that judgment. |
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it allows smart traders to benefit from that situation and buy up at lower prices.
Exactly. If BTC fell to $600 I would be panic buying. Even if I lost money now, I look at is as a long-term investment. Every day we see a sharp drop of $10-15 and then it goes right back up. I guarantee there are some people buying a large amount of coins during those hours. Yes. Every 10 BTC traded would yield the trader USD 100 minimally. Has money evaporated from wall street? It is now in crypto? Hedge funds are undoubtedly dabbling in Bitcoin, but Wall Street deals in trillions of dollars in cumulative value, dropping a couple million into Bitcoin wouldn't be noticeable. |
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it allows smart traders to benefit from that situation and buy up at lower prices.
Exactly. If BTC fell to $600 I would be panic buying. Even if I lost money now, I look at is as a long-term investment. Every day we see a sharp drop of $10-15 and then it goes right back up. I guarantee there are some people buying a large amount of coins during those hours. Now that Bitcoin is approaching $600, the question is are you panic buying? If $600 is the point at which you should be furiously panic buying, surely $610 is low enough to be buying. |
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It's coming
EDIT: This topic is my proof. Everyone thinks that it's not possible but why not?
I call it a bubble.
Maybe you are not wrong, Ethereum recently is getting people's attention and people are investing there which is affecting the bitcoin market, we can see today the decline and I'm afraid that very soon the price of bitcoin will crash. Anything is possible with bitcoin, price has started to go down now so I think many people will prefer to sell their coins if it continues as I don't think that price will rise in coming days. The halving effect hasn't come yet and I think this is a hope(not the last hope) for bitcoin to increase its price, ethereum trading volume on poloniex is really high 34k BTC+ and I think people are focusing there leaving the bitcoin which I think is one of the reason why the price is falling down. That could be true. 10 months after the halving in 2012, the price rose 20 times. there was no immediate rise. At this moment we have the miners, who need a min. value to keep on mining. If I am not wrong that price would be around 450 dollar. Which means we can expect a minimum price of 450 dollar from now on. The cost of mining has no bearing on the price of Bitcoin. Just because the cost to mine a coin requires a $450 price for miners to break even in no way creates a price floor. |
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"A few years" might be optimistic. Iran's sanctions have been lifted, so that's a lot of new oil coming on the market. Saudi's are slashing prices to maintain market share, but I don't see any reason to believe this is just a temporary circumstance and not the new normal.
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Have the claim rates for mobile users been reduced again?
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Many have said that bitcoin will destroy and will bring an end to banking institutions but i read this article and find out that bitcoin will not destroy banks instead it will empower them. https://www.cryptocoinsnews.com/blockchain-empower-banks/I will qoute some "R3 has managed to organize every major western bank together on a project designed to imitate blockchain technology as it exists in Bitcoin. These firms are open-minded as to how this final form will take, even suggesting they could re-invent security altogether in pursuit of new banking systems. Financial institutions are not going to surrender their industry. And consumers will appreciate easy-to-use more efficient systems of the future in banking." So is it feasible or not? That's a good idea, merging Bitcoin with bank accounts. Instead of picking between them, why not both ? You have a bank account with bitcoin wallet on it. That's a good idea. But do bank still accept it ? They are still don't want to support Bitcoin even thou people are now accepting it as a transaction matter. But as we can see, we are still in this century. Maybe when the time comes, they will now accept it and these currency will be used internationally. Have you ever heard words: bank and bitcoin in one sentence? Because all we keep hearing about is blockchain and banks, not bitcoin. Banks don't want to focus on BTC because it is something too volatile and uncertain for them. People who are clients of banks expect one thing - stability. And bitcoin is far from it, and probably always will be. Furthermore questionable legal status, and lack of standardization is not helping as well. And also i dont think bank or either government would accept bitcoins really because for their eyes bitcoins are illegal to them and thats the reason why their are countries banned the usage of bitcoins so if the thoughs of OP will really a big question mark in this status, bitcoin and banks dont have legality binding to each other and i doubt it will happen or to be soon. yes it is a fact that still so many countries have not accpeted bitcoin and they are considering it as a illegal currency, but it does not mean that they will ever not accept bitcoin, i am hopeful that a time will come when these countries will compel com accept bitcoin and consider it as a legal currency. so banks will also accept bitcoin and people will use bank for exchange of bitcoin and for transaction and saving purposes also. Which country do you know that bitcoin is not accepted? and who tell you that bitcoin is illegal currency? I think many people are using bitcoin almost all country. and they have alternative to withdraw there bitcoins. we know that bitcoin its not accepting locally but brazil is one of them who accepting bitcoin as payment locally.. and bitcoin is growing. and more adoption will come in bitcoin.. For now we can not say that bitcoin is illegal because if bitcoin is illegal people who using bitcoin will be arrested.. There are more than a handful of countries that have banned bitcoin is some fashion: Russia, China, Bangladesh, and Bolivia have limitations on use or legality to some extent. Here's a better description, though perhaps a little outdated: https://www.cryptocoinsnews.com/top-10-countries-bitcoin-banned/ |
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Bitcoins and bank have one difference that we can never see we can merge it.
Banks are regulated while bitcoins are not, and banks are controlled by the government while bitcoins are controlled by the people. The aforementioned statement alone is already a big hindrance of not happening and we should only be happy with the current state of bitcoin.
Banks are regulated, and increasingly so are bitcoin businesses. Anyone dealing as an exchange in the US has to register with the proper regulators, and NY has it's own laws regarding dealing in bitcoin in any way. Saying "bitcoin" isn't regulated is like saying the dollar isn't regulated. It doesn't make any sense. The dollar isn't regulated, banking institutions are, and increasingly, so are the businesses that are sprouting up around cryptocurrencies. |
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Yes this is most likely how things will eventually play out. It's a little sad that so many here see in Bitcoin a means to stand against the government. How can Bitcoin fight the government when it's very existence depend on infrastructure/resources owned and maintained by the government? The government doesn't even need to acknowledge Bitcoin, it can simply turn around and absorb Bitcoin in its entirety and reconfigure it to its cause.
The government is but a reflection of the individual. The solution to government control lies not on the outside but rather on the inside.
And how would the government go about absorbing a decentralized project running simultaneously on millions of computers around the globe? Surely if the government had such an awesome ability, it would be able to "absorb" all torrenting programs to shut them down, rather than relying on seizing servers the old fashioned way: by physically removing them. |
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The bitcoin price is very cheap now. That is because some investors are more interested in the Ethereum now.
Very cheap? Based on what? It's a couple times higher where it was a year ago, where it trudged along for an extended period of time. How do you know it's not very expensive right now based on this? |
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http://www.msn.com/en-us/money/markets/saudis-lower-oil-price-to-asia-most-in-10-months-in-sign-of-glut/ar-BBv4hELSaudis Lower Oil Price to Asia Most in 10 Months in Sign of Glut- State-owned Saudi Arabian Oil Co. said Sunday it will sell cargoes of Arab Light in September at $1.10 a barrel below Asia’s regional benchmark.
- Aramco’s pricing cut is part of a “market share battle” for Asian customers, particularly with OPEC rival Iran which is ramping up crude exports after sanctions eased in January
- Pricing for Light and Extra Light grades for U.S. clients was cut, by 20 cents and 40 cents, respectively, while the Medium and Heavy grades were unchanged.
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Bitcoin has very low utility, and it's not a suitable replacement for money. If 25% of the world population has any bitcoin at all by 2022 I'd be surprised. As for using it in daily transactions, I'd put that at the slimmest of slim possibilities.
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Royal Bank of Scotland economists have urged investors to sell everything except high-quality bonds, warning of a “fairly cataclysmic year ahead.” Writing in a client note dated Jan. 8, the bank’s European rates research team said that clients should be concentrating on return of capital, not return on capital, and that an ominous outlook to the world economy “all looks similar to 2008.”
The Key Points- The note is particularly bearish on China and global commodities, and predicts that oil could fall as low as $16 a barrel.
- In a grim set of predictions, Andrew Roberts, head of European economics, rates & CEEMEA research said that the world has far too much debt to be able to grow well.
- He also warned that advances in technology and automation are set to wipe out up to half of all jobs in the developed world.
- The note says equities could fall 10% to 20%.
- It predicts the year will be spent focusing on how to exit positions that have benefited from long-running QE, including emerging markets, credit and equities.
Source: http://blogs.wsj.com/moneybeat/2016/01/12/rbs-warns-sell-everything/?mod=e2fbRBSA 10 to 20% fall in equities certainly isn't a long shot. QE has produced a long run-up in stock prices, and on average, we see a market correction of 10% every two years and a 20% correction every five years. Still, the advice to "sell everything" seems a bit much. What's interesting is that we did indeed have a fall in equities of 10%, as the analyst predicted, but we've since made it up and more. So if you sold everything in fear at the beginning of this year, you lost out. Equities are at or near an all time high. |
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Of course he will toss charges. Its hard to believe for me that a country which insists a lot in promoting itself as a Free Country like USA will want to put in jail some person just because he is selling some bitcoin. The agent may wanted to make this a case but Espinoza the guy who sold the coins to a agent undercover have not broke any law in USA. Its without a doubt a right decision from the judge although not an expert in economics. Lastly its funny how the agent wanted to make this a case of money laundering with only 3-4 bitcoin involved which is maximum amount of 3000 USD at the best. This sum is not considered a big one and is was the right decision from the judge to not charge guilty Espinoza for selling such low amount.
I would agree with you, but just because the amount is low ($3,000) doesn't mean the charge is not serious. Money laundering is a serious crime, and the important fact is that the judge ruled that selling Bitcoins was not money laundering in this case, even though he was not registered as an MSB. This also seemed to be a case of entrapment to me, in that the agent tried to get a charge of money laundering by telling the guy he was going to do something illegal with the Bitcoins before the sale took place, thereby trapping the man into a situation he did not try to enter willingly. He was just trying to sell his coins, he has no obligation once they are no longer in his control. |
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http://www.abajournal.com/news/article/judge_rules_bitcoin_isnt_money_tosses_money_laundering_charges/The Takeaways- Under cover feds buy Bitcoin from defendant, tell him it's so that they can purchase stolen credit cards
- Feds arrest him for operating an unlicensed Money Services Business (MSB) and money laundering
- Defense argues that Bitcoin is not money, so he cannot be operating an unlicensed MSB or money laundering
- Judge ruled Bitcoin is not money and also that the defendant selling his Bitcoin did not constitute money laundering because he had no intention to promote an illegal activity (purchase stolen credit cards)
- This case is believed to be the first money laundering prosecution involving Bitcoin
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It should 950 in august not 350!! The rally will start on the first week of august in my speculation. And it will last for 3 months.
it will be a party for everyone
At least you're honest about your statement being speculation. So many people who post here are convinced that their predictions are based on anything other than a wild guess, even though they post nothing to support their opinions. At least if you were posting a technical analysis based on trading volume, that would be one thing, but I've yet to see that. Everyone just spouts optimistic nonsense because they're praying for a higher price. Spewing optimism towards a product's rise usually makes it end up in the other way. We might hope for bitcoin to rise and start holding coins, but that also freezes up the markets and there will be less coins to sell and buy which would lower the price. People are too optimistic with their price predictions. Remember when everyone thought the halving day/week was going to double the price? Silly. People who expected the price to double after the halving don't understand how markets work, and people who expected it to rise before may very well have been right. The price doubled between last August and the halving. Whether that is directly attributable to the halving is debatable, but I'd guess it is. Not necessarily due to the fundamentals, but a self-fulfilling prophecy. |
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We need to achieve a huge adoption before we can be considered as a strong currency and when that happens the government cannot do any bad thing with a huge volume of supporters because we will beat them for sure.
As of jan 2016 there are 100m users of bitcoin and is already a strong crypto currency. i don't see any reason why gov. would do anything about bitcoin, and what do you mean we will beat them even with (lets say) 70% of population is using bitcoin fiat money will still win. bitcoin is better of being an alternate currency than being the main one. Where did you get this 100m statistic? It can't possibly be right. There's no way there is 100 million people using bitcoin. http://www.coindesk.com/2016-bitcoin-challenge-100-million-users/This article in no way supports the notion that bitcoin has 100 million users. It cites an estimate that there are only 10 million wallets. That's a 10:1 overestimation on number of users, and that's only if every user has only one wallet and every wallet created is actively used. Both of those are unlikely. Based on that, I'd put the estimation at 4-5 million people using bitcoin. |
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After the DAO exploit ethereum has ben losing grounds. Now I don't trust it and many others are now seeking to find another coin or project that can offer the same features but without the same flaws
It does seem to me that the people running Eth sold out and violated one of the core ideals of crypto, which is that you don't seek to undo transactions by rolling back the blockchain and forking it. But with that much money on the line for them, it's no wonder they sold out. All that idealism about what Eth was and could be was just a front. In the end, special interests ruled the day, and the only thing that can be guaranteed with Eth going forward is that if certain people lose money or it's politically expedient to do so, the directors of this currency will use consensus voting for their own gain. |
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