Just because there has been a slight correction doesn't mean that it is a pump and dump. Of course, there will be profit booking at different levels. You can't expect anything else from financial investors. We will just consolidated before moving the next move upwards.
But actually in that particular case it is a pump and dump. The price raised so much, because everyone wants to acquire as many bitcoins as possible to get "free money" after the fork. That's the pump phase. And when the fork happens, they will sell most of their excess bitcoins that they had bought only for that one moment, and it will be the dump phase. Probably will end at something like $4300 and then it will again raise naturally, because many people will want to take the opportunity of bitcoin at $4300 so they will start buying it again. Yes. Don't forget good old fashioned profit taking as well. When something goes up this fast, it makes people nervous (they "climb a wall of worry") and often sell just to crystallise the gains. |
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Bittrex has decided to support bitcoin gold: https://support.bittrex.com/hc/en-us/articles/115002320451-Statement-on-Bitcoin-Gold-BTG-If you have a Bitcoin (BTC) balance on Bittrex during the BTG snapshot block 491,407 occurring approximately on October 24, 3am PT (10am UTC), you will be additionally credited the equivalent amount of Bitcoin Gold (BTG) on a 1:1 basis. i.e. 1 BTC on Bittrex held during the on-exchange snapshot will get you 1 BTG. BTC held on orders will also be credited. Only the BTC held on your account is eligible for BTG.
Bittrex will close deposits and withdrawals of Bitcoin (including 2nd layer protocol XCP/OMNI and associated assets) 24 hours prior to the BTG snapshot block 491,407 occurring approximately on October 24, 3am PT (10am UTC). The wallet will remain closed until the on-exchange snapshot is complete. Trading will remain active during this time.
Bittrex will make all reasonable attempts to credit our users BTG but until we have a fully supported wallet, we can neither guarantee tokens or consider creating a market. We will continue to monitor the state of the codebase and network. We'd also like to encourage the BTG development team to reach out to us. |
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Swiss government seems a little too friendly with blockchain, bitcoin and cryptos, example, Swiss City Authority of Zug Plans to Verify IDs Using Ethereum, Swiss Bank Introduces Bitcoin Asset Management Service, Bitcoin Certificate Has Become the Most Traded Structured Product on Traditional Swiss Stock Exchange and a lot like this, you might find these interesting https://www.bitcoinmarketinsider.com/?s=SwissWell both Switzerland and Japan have decided they want to be at the head of the fintech revolution - and you can't have proper fintech without legalising bitcoin. |
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Yes,most of the people have just sold their altcoins to buy bitcoins since a hard fork is upcoming and people expect air drop to happen and they could get free bitcoin gold coins as per the number of bitcoins they hold.Its mainly due to this reason bitcoin's price has surged from the range of $5,000 to $6,000.
Just immediately after the hard fork,they would rush to sell their BTG coins first and then their bitcoins.Luckily,Bittrex has announced its support for BTG and so they would not find any issue in dumping it.next,when most of them start dumping bitcoins at once,definitely it would create a decline in bitcoin price.But ,it would only remain for a short period.Since bitcoin has a huge buy wall,soon its price would recover.This is because bitcoin already has huge demand and it is not in need of any pumping factor for its price increase.
The dumping of alts has already happened. I think some people will be disappointed because it's not clear many exchanges are enabling bitcoingold for trading (because it doesn't have replay protection). To sell your bitcoingold you will need to go to Yobit. |
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Hey guys im thinking about creating a bittrex account. So if i do not have a verified account, how many bitcoin or altcoins can i send to my account to switch for bitcoin or another altcoin like ETH? I assume back then you could do up to 3btc in trades per day whether btc to ETH or vice versa? But now its max 0.025 btc? Can someone confirm this is what is meant by it?
Maybe the minimum amount to deposit won't matter on that since I try to create new and deposit a lot of alts there and they receive my deposits and the only problem I face is when I try to withdraw my BTC and it limit me for 0.02+ a day since my account is not been verified. But when I do little verification on it my limit has been increase and people should do some verification on bittrex to rise their withdrawal limit a day. That scenario sounds odd. They will take all the money you can send them (deposits), but will not allow you to take it back (withdraw) unless you do in ,025 BTC fractions?  Something smells fishy. Hope they didnt get hacked and are buying time. Thats the behavior banks do before customers want out of the collapsing bank in 3rd world countries It is fishy. Especially as their withdrawal fees are so high. So instead being able to withdraw 1btc with one withdrawal fee of 0.001 btc ($5.85 at a bitcoin price of $5850), you need 40 transactions of 0.025, and the fees add up to 0.04btc which is $234 I suppose you could convert to something like doge to avoid the high fees. But it's not ideal. I'd advise legacy unverified accounts to withdraw their coins before they get limited. |
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https://www.forbes.com/sites/petertchir/2017/10/22/is-bitcoin-a-giffen-good/#5aff32b5fc4eAs Bitcoin streaks towards $6,000 I continue to think about what will drive it higher. In the near term, it struck me that Bitcoin is behaving as a Giffen good.
Giffen goods are defined as 'those goods whose demand rises as their price rises'. This is the opposite of how most goods behave - as prices rise, demand falls off. In the case of Bitcoin, it seems clear to me that we are in a stage where rising prices fuels further demand - like a Giffen good.
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The entire market is in the red. Everyone has lost money. What do you think?
This is due to FORK and announcement of allotment of free bitcoingold allotment to the holders of bitcoin. every one is selling his altcoins and buying BTC so all coins are red and BTC is green. After fork the scenario will change and all altcoin will green and BTC in red. It's certainly the reason for the sales of alts on bittrex - they've promised to give bitcoingold to bitcoin holders, triggering sales of the alts. |
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Those who received this e-mail, did you reach out to police via your e-mail address before? I am trying to understand why I have not received this e-mail, while I have received print letters from liquidation lawyers.
Anyone with Mintpal account here who has NOT received this e-mail yet as of October 21st?
I've received it. I actually took a screenshot of my mintpal wallet - only it's on my old dead computer, and I now have to figure out how to retrieve it from the hard drive. |
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Bitcoin has already changed. The segwit thing that was activated this summer wasn't in satoshi's whitepaper - which means the current bitcoin is very different from the one that was launched in 2009.
Bitcoincash is similar to the bitcoin of 2009, except it has 8 mg blocks.
I think you will find that there is NO coin in the cryptocurrency space that is identical to what was launched in 2009 by satoshi.
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Bittrex is now supporting the fork and will credit equivalent amount of BTG to our wallets. Finally a good news for us. Link to statement : https://support.bittrex.com/hc/en-us/articles/115002320451I guess its time to move the BTC to Bittrex and wait for the fork to finish. Many people will hold their Bitcoins in Bittrex wallets as they are safer than other exchanges. They provided the BCH very quickly during Bitcoin Cash hard fork and similarly they will be giving Bitcoin Gold now. So how many of you are moving your coins to Bittrex ? I think that's what they want people to do, but it's a dodgy exchange (they've been disabling accounts, jacking up withdrawal fees and so on). Transfer coins there at your own risk. Work out whether what you get with bitcoingold is really worth the risk of maybe losing everything. |
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Do you think the value of Bitcoin gold is priced into the price of BTC, thus we will see a drop similar to the value of Bitcoin Gold after the fork?
The price of bitcoin gold is depending on how many people will be doing transactions with it by the time of hard fork. But what's going to happen is the same like bitcoin cash, at the first moment of it the price can possibly pump but later on it will decrease because of sell orders and it will make everyone to sell their bitcoin gold. I don't have hope with this coin anymore, their website isn't even strong in terms of security, they've got an attacked DDOS. I don't think there will be a bitcoingold pump at all. Bitcoincash had some heavy duty supporters (like Jihan of Bitmain), but bitcoingold looks to be a bit shady with a premine. So I doubt it will get pumped. |
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The thing about Dogecoin is that I can sync to its network in less than 1 minute. It took around an hour to 2 hours to sync from beginning to present (nearly 4 years!) and then I was ready to transact. Compare that to other coins like Ethereum, it takes me around 5 hours to connect just from a few days ago.... WTF?
Part of the reason it works so well is that the developers don't mess with it. They have a product where the network and the wallets all work seamlessly, and they leave it alone. No need to keep downloading new wallets, no bloat, no changes. It just works. The more expensive bitcoin gets (and the more reluctant people are to spend it), the more I'm convinced that a coin like doge will be used as an actually currency, for daily use. |
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Coinbase has decided NOT to support bitcoingold: https://support.coinbase.com/customer/portal/articles/2892196-bitcoin-gold-faqIs Coinbase going to support Bitcoin Gold?
We operate by the principle that our customers should benefit to the greatest extent possible from hard forks or other unexpected events. However, safety and security are also important considerations for any asset supported by Coinbase.
At this time, Coinbase cannot support Bitcoin Gold because its developers have not made the code available to the public for review. This is a major security risk.
Coinbase's current priority is to add support for Segwit2x, followed by Bitcoin Cash. We will continue to monitor the development of Bitcoin Gold, and if its network proves to be both secure and valuable, Coinbase may decide to support it at a later date.
Coinbase/GDAX will not sell or keep Bitcoin Gold associated with customer Bitcoin for itself. Any Bitcoin Gold will remain securely stored on Coinbase. If Coinbase were to enable support for Bitcoin Gold at a future date, customers would be able to withdraw Bitcoin Gold associated with their Coinbase/GDAX Bitcoin balances at the time of the Bitcoin Gold fork. |
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The thing is, who is buying at these prices? I'm not sure I would - if I was new to cryptocurrency I'd think BTC was overvalued and would look to alts to see if there was a better profit to be made there.
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Can anyone explain this sentence "BTC deposits / withdrawals will be disabled in 67 hrs (24 oct)"?
I see it as that yobit will not accept the deposit and withdraw bitcoin in that time? it should be possible because the explanation will surely have a major impact on the state of the current bitcoin. I am so surprised if what I think is the true intent of the statement given by yobit.
Yobit is a small exchange - it won't have a major impact on the state of bitcoin. Most of the big exchanges arn't bothering with gold because of the lack of replay protection. |
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I currently have about four hundred pounds worth in a Bit Coin tracker through Hargreaves Landsdown. Everything was easy and that is why I did it that way.
I know that this is not a lot but my concerns are that when this fork happens I will not benefit from any Bitcoin Gold and that the value of my shares will fall if Bit Coin falls.
Should I cash in as I've made almost double my money and buy through Coindesk or similar or should I just leave things alone and buy some extra and store in an offline wallet.
Any Ideas?
Thanks.
You can cash out an amount equivalent to your initial investment, and leave the rest - that way you know you haven't lost any money. |
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Yobit are CREDITING BTG to BTC holders on the 23rd ...
Not the time frame I was expecting 25th through 1st Nov
They were super quick getting wallets and deposits up for BCH-BCC so perhaps they know something I don't ?
they are locking both wallets while the sparks fly
That's interesting. I wonder how much the bitcoingold people paid them to list the coin. |
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#2 No Legal precedent for trading data Is there any law compelling them to require verification for cryptocurrency withdrawal limits when not dealing with fiat? If there is, then shouldn't there be a law to download a cryptocurrency wallet? Where does this end? Cryptocurrency is just data. Should I need to verify my ID when downloading a file or an image? Equally ridiculous - should I be required to have verify the same information when trading MMO items on some MMO exchange? If you think thats ridiculous, some items in these MMOs are worth more than a Bitcoin: http://www.therichest.com/rich-list/most-popular/10-of-the-most-expensive-virtual-items-in-video-games/ There isn't any at all. And what's more American rules for withdrawing fiat only need verification if you are withdrawing more than $2000 a day. The regulation is about looking for money laundering, so people constantly withdrawing large amounts. It most certainly is not about saying you have a grand total of $1000 in your account, you need to verify. It's ridiculous. When an exchange is doing something no govt requires, you have to ask why. |
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There's a strong chance you're going to end up really, really, really hating altcoins when Bitcoin shakes off all the doubt they fed so successfully on and slaughters all but the worthiest of them.
Depends on the alts. Bitcoin's adoption has stalled in the last there years while people argue about blocksize etc. Most of the action is taking place in the alt space - see ethereum for example, plus a bunch of other innovative coins. People keep thinking first mover advantage means bitcoin will always be ahead. But that's not the case. |
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In dollar terms it has stayed roughly constant. Don't forget that bitcoin has increased from about $3000 to $6000 - a 100% rise.
Also, look at the long term graphs. When it was at 50 satoshis it was coming down from a pump earlier in the year. It normally averages between 20-30 satoshis.
I still use doge to move money. It's quick, the fees are lower, even after buying on one exchange and selling on another. I expect it will survive because of that.
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