Whenever a coin has a fork, it seems like yobit is always slow to update their wallets.

I think that's the reason why you are having witdrawals issues right now.

There honestly isn't a whole lot you can do in this situation. Yobit is known for its horrible support and it's not going to get any better just for your case. You should definitely still raise the issue with support, otherwise they may think that it's actually a completed transfer like the status says. Other than that, you just need to wait for yobit to update their Gamecredits wallet and for everything to return to normal.

I'm sorry that you've landed yourself in such a bad situation, but that's yobit for you.

Long term this current price at 4 digits is a pretty good entry point for sure. If you are wanting to distribute some funds from your portfolio to BTC, right now at under $10k is honestly a steal, considering the sheer amount of upsides and benefits that bitcoin has that still haven't been fully realized. Buy 3-5% each day until you reach your target of 100%(your entire buying fund), that way the chances of entering at a bad price is reduced.

Although that is the case for the long term, if you're just wanting to flip some coins for a profit, right now is not a good time to so.

I still think that the dips are not over at this point. They will probably keep coming until at least end of Q2 this year. If you're buying now, you have to be prepared to hold for at the very least 1-2 years.

Will bitcoin die this time? That's the question that's been asked hundreds of times whenever a crash happens in the market. No, bitcoin will not die. Just because price is falling, doesn't mean that it's "dying".

I don't think that a lot of bitcoin investors knew that bitcoin isn't just something that will continue to go up and produce returns like in 2017. Instead, it's going to adjust and correct just like what's happening right now.

I think that after this recovery, the markets will probably continue dipping. When it'll stop, I'm not sure. But it should be around $3k. Once that level is reached, and support is built, then there is potential for a new bull market to happen probably in a couple of years time.

From what I've heard and what I've read about the HYIP industry, since Payza is indeed somewhat reversible, the admins of HYIP sites will often continue to pay out for payza even after the money flow dries out(and when other payment processor deposits aren't getting paid out anymore) due to the fear of charge backs.

Anyways, regardless of whether it's a favorite of the HYIP industry or not, there is no denying that it is definitely involved in these illegal ponzi investment schemes.

I don't think that the Egopay scam connection is yet confirmed, but it is probably highly likely. BTW have US users gotten a way to get their money back yet?


Yeah. You missed out on e-gold as well.

It may be broken but I think that it's confirmed that bitcoin isn't going to go above $10k again this year. We are still in a bear market, this is just a rebound from the low prices we saw in the few days of full on dumps we saw.

If we can break the $8k resistance, then it would probably just delay the bear market. But I don't believe we have yet reached the bottom.

I absolutely agree with the analysis, the volume is quite small and it is just extremely unlikely that the rally will turn out to be anything significant due to the fact that it's overwhelmingly bearish still. I expect it to top out at a maximum of $8.5k before another major pullback.

It's not the end for bitcoin, however it is probably the end of the rally that took bitcoin to where it is right now.

It's important to note that bitcoin can exist without any government support, which means that even in the worst case scenario, as long as there are people using bitcoin software, there will still be a functional bitcoin network.

$3000 could be possible, perhaps it could go even lower. Nobody knows what will go on in the market when everyone is panicking about the bear market.

Although if bitcoin does go to $3000 it's a great price to buy at in my opinion, and if you are interested in investing bitcoin for the long run you should stock up around that level. It may go lower, but not much more. A major rebound should happen at that sort of price as well.

I'm not sure if that screenshot of the email is legit or not, but it is then it proves that they have been underpaying you and have later fixed the issue, which essentially means that they admit there is indeed an issue with their affiliate system.

Could you provide a screenshot for the ETH referral earnings page? According to their own affiliate rules, they ould only credit referral earnings on deposited funds. But if this is true, again it just proves that their system is not designed to run this way.

I just feel like it's unfair even if it's stated in the terms and conditions for a user not to get compensated for their referral's bets just because it's from streaming bonuses, especially when he can freely do whatever he wants with the BTC(though again, unconfirmed).

You skipped 2014 entirely, in March that year bitcoin was actually at $600.

Bitcoin is not going to $35k this year.

Your trend doesn't work at all because in reality, bitcoin will experience bull markets and bear markets driving price above or beneath the mean. Price growth is not always linear in reality, which means that even though the trend may seem to be like that, in reality, it's not. Just like the 2013 bubble, this one may take 1-2 years for bitcoin to actually recover from.

So no, $35k in 2018 or any all time highs would not be possible. We'd be lucky if we're not going down further at this point. However, it could happen in 2-3 years time.

Most people who tell you that cloud mining is profitable are just out there trying to get some referral commision off you.

I would strongly discourage you from investing in any form of cloud mining whatsoever. The fact is that over the long run you shouldn't expect to make any profit at all from cloud mining. In fact, you would be lucky to make your capital back.

The two categories of cloud mining sites out there currently are either scams, or unprofitable investments that will result in a terminated contract within a few months due to soaring difficulty and/or decreasing BTC, even though they are advertised as "lifetime" contracts.

Do not invest in cloud mining, that's the best advice I could give.

There is a difference between the centralized cryptocurrencies that are issued by governments, such as the Petro issued by the Venezuelan government, and the decentralized cryptocurrencies such as bitcoin which are not controlled by any single entity.

Governments obviously are interested in the centralized version, because it actually gives them more control. They are only using the blockchain for their own benefits whilst retaining all control that they have gotten.

In that case, it doesn't really make a difference whether governments choose to issue these cryptos or not. They are not relevant to the decentralized crypto market. Only thing though is that the general public will be misled into investing in these national cryptos instead of actual decentralized ones. IMO, they're not even worth looking at since they are simply fiat or government issued bonds in a different form.

God, I wish that all newbies that invest in bitcoin can read this before actually making their decision to trade BTC.

1-9 are all extremely important points.

I think that the 2017 pump served a lesson for a lot of traders. It was all good and jolly until the big crash came in January, and then they started panicking. Clearly, they have not been prepared for a bear market, and every good trader should be able to profit from bear markets by buying in at a lower rate.

Also, number 9:


Gosh, I wish that people actually take this advice. Day trading relies on mostly luck and the movements of a coin during the day doesn't really correlate to anything that is rational. But if you hold onto an investment and it's something intrinsically valuable, it will be proven by you simply holding onto that investment for the long term.

I honestly just would like to see bitcoin treated the same way as foreign currencies are, or even gold/silver.

Simply doing bitcoin transactions should not incur any taxes. Makes no sense to do so, it's like saying you're going to be taxed every single time you give someone else money regardless of the reason.

What I see with a some countries though is that VAT is added to bitcoin purchases, and CGT is applied when you cash out your bitcoin. Make up your mind, governments. You can't say that bitcoin is both a consumer good and an investment asset. This kind of double taxing shouldn't be happening. Also, apparently in Australia they are also planning on adding a tax for crypto to crypto trades. I get that there may be a tax for crypto to fiat trades, but crypto to crypto, you serious? That's like saying swapping collectibles with someone will incur a tax. Makes no sense to me.

That just confirms it. Thanks for the link.

Apparently if you sign up you get 100 GH/s for free straightaway and that makes you 0.00003 BTC per day. If they are really legit then this is going to be abused big time and they've got to pay out all the people who make money farming this bonus.

Their price for 1000 GH/s is 0.005 BTC, or around $40 at current prices. Hashflare and Genesis all sell 1000GH/s for more than $100. You really think that a legitimate business would do this? There is absolutely no explanation of how they even make their money either. Furthermore, you've got your profits predetermined for you every single day. That's just not possible, and not how mining works.

Use your common sense in these cases. If it's promising stable returns at all, then it's a ponzi scheme or a scam.

As long as exchanges are still making money, they won't change anything.

Plus, it'll be hard for them to do so because it's completely unexpected when a bull market suddenly comes and there is a load of new users. There is no warning before that happens, and the volume is way too much for their support or their trading engines to handle in the back end.

When the bull market stops, they don't have any use for the excess support staff anymore. I assume they get rid of some. Even if they don't that amount of support staff could be too little for the next bull run. It's a sticky situation.

They should really learn a lesson or two, make their capacity much bigger than the current averages so that if there was an unexpected surge in volume or users, they are prepared. But as I said, as long as they are making money off their existing customers I don't think they'll give two damns about any of this.

I think it's safe to say that bitcoin isn't going down to 3 digits. There's going to be a ton of buyers at the low to mid 4 digit range that I doubt we're going to see any prices below $2000 consistently as we try to find a bottom at this bear market.

I wouldn't say that bitcoin was defeated as a currency. It just means that adoption has not ripened.

Also, with or without Mt Gox coins being dumped, would you agree that bitcoin's pump had to come to an end one way or another and enter a bearish phase exactly like what we're experiencing now? There had to be profit takers at some point.

Anyways, instead of buying when price is above $10k and calling it safe or buying when price is in 3 digits(which probably will never happen), a more logical thing to do would be buy your way down, split up your capital to buy coins regularly, starting now seeing prices are already decently low.

You're not even providing the site's name or any screenshots. How do you expect anyone to accurate help you?

But to be honest, your case is kind of obvious anyways. Let's see, if someone asked you to send them money so that they can produce you a profit in given amount of time without any proof that they actually have a business model, would you do it?

That is exactly what the telegram cloud mining bot is. It's a stranger asking you for money promising high returns, without any proof. I wouldn't even trust the big names such as Hashflare, considered to be trustworthy to some, let alone a little bot on telegram with no background info whatsoever. As far as I know, there are no legitimate company hosting any sort of investment scheme on telegram. Wouldn't make sense for this to be legit.

One thing is for sure. It's not going to "nothing". Bitcoin prices is falling alot, that is true. However, it will find a bottom somewhere, maybe at $2k as you said, move sideways for a bit(most likely when most people in the market start saying that there's going to be more dumps coming), then start its first real rally upwards to establish the bullish trend.

This will happen at some stage, but nobody knows when it's going to happen. For now, we're still bearish.

I don't think that it's risky at all to buy in right now if you do have the patience to hold your coins. Instead of a 50/50 chance of making a profit if you're willing to just hold that coin for 2-3 years, I think you'll have a 80/20 chance to be able to pull off some respectable profits. However, if you're looking to trade for a short term profit, that's when the risk start piling up since it's still pretty bearish right now.

The reason why bitcoin is going down doesn't always have to be a definitive answer. One way or another this bear market had to happen before the next bull market, there is no way that bitcoin can sustain its growth from 2017.

BTC is now above $7k once again. Next week could potentially start with a pretty sizeable pump, before further bearish movements.

For now, $6k seems to be the bottom.

If we take 2013-14 as an example, prices went as low as $200 and bottomed out there after the big pump. Of course it's not fully the same as 2017's pump since we now see a lot more long term holders that won't sell out easily, but it should be around the same for every bubble.

It took just over 1 year for BTC to go from its then ATH of around $1200, to under $200. So I think it's safe to say that most of this year will be bearish for sure. The exact bottom can't be predicted, but probably is going to be around 20% of the ATH, so I'd say around $4000 will be the bottom. Anything below $5k is going to really be seen as a steal for BTC investors when the bull market comes around again.

What I see from this situation is that although the prices are probably not going to go up on a grand scale. There may be small rebounds after dumps, but they don't really matter or change the bearish trend anyways.

However, I think that we may have saw the temporary end to this dump. The entire week has been bearish, and the bottom was near. It could be possible that the $6k bottom held its ground, and BTC is now on its way up for a rebound temporarily.

If you're looking to sell, wait for price to recover to around $7.7-7.8k in the short term before selling. If you're a long term holder, investing now wouldn't be a bad idea since you're literally getting a discount of 60-70% from last December when everyone was saying to invest in BTC for the long term.

What else would you expect during a bear market?

Yes, the market cap for all crypto is now below $300 billion. But really most of it is still led by bitcoin's crash. So I think analysing bitcoin's price is much more helpful than analysing all of crypto's market cap, which can fluctuate due to new coins entering the space.

We're currently seeing some support at $7k, in the most optimistic scenario we will see this dump slowly come to an end and the $6k bottom will hold up. But just as likely it could go in the opposite direction and continue its downward spiral. And of course if the $6k support doesn't hold up either that is going to be a huge blow to traders that will probably panic even more and dump further.

Anyways, we're not going to see any major bullish activity any time soon. There may be a small recovery, but that's not enough to reverse this bear market.