Crackdowns are coming eventually. China just the first salvo of what is coming from regulators in major nations. Steem started dropping when the Poloniex wallet got disabled for "maintenance". That was 2 months ago, and I think when a lot of people realised they couldn't withdraw their Steem from Poloniex, they sold it for bitcoin, which they could withdraw. And the Steem price hasn't really recovered, because the wallet on Poloniex hasn't been re-opened.
It's a shame when exchanges mess with coins like that.
That’s an example of what is going to happen to all ICO issued tokens when the delistings come forth. And STEEM is still trading on Blocktrades and Bittrex, so imagine the utter collapse towards 0 of the STEEM price if it had been delisted from every significant exchange. Everybody going to get plenty of warnings but they will ignore the warnings of course. China is an authoritarian communist state - they arrest people just for criticising the govt. Why on earth would foreign govts copy them? Most western govts are proud that they're not authoritarian, and in any case have legalised cryptocurrency. Both Blocktrades and Bittrex are american and are not going to copy what some crazy communist exchanges are doing. |
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I think it's consolidating between $4000 and $4200. If it dips it will go to about $3500, but no lower.
We're out of nerd stage and into in adoption stage, where many wealthy people now feel they "must" have some bitcoin in their portfolio, just in case. And there are a LOT of wealthy people around...
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Well, better late than never I guess. Interesting that they chose to postpone BCH trading. But I guess since they are late to the party anyway they might as well just wait and see how China plays out.
I thought China was an odd excuse for not enabling BCH trading - especially as most of the BCH trading is done on western exchanges (HitBTC and Poloniex) or on Bitthumb (Korea). |
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I think it's mostly priced in. The Chinese exchanges stopped taking deposits last week, and they're encouraging people to transfer out their coins.
It's possible that those transferring out will then sell - but this is hard for them to do because they can't access the western exchanges thanks to the great firewall. So I think the sales will come in dribs and drabs via trips to HongKong to sell via localbitcoins.
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Bitcoin cash dropping more and more. I sold already before it becomes worthless.
There is a lot of new supply of BCH hitting the markets as Xapo and Bitstamp make their bch available to their custmers. The market should be able to absorb it though. |
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India has captial controls, which means the price can't be arbitraged downwards. Therefore if demand for bitcoin is high in India, there is going to be a premium paid.
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https://www.bitstamp.net/article/bitcoin-cash-withdrawals-now-available/27 SEP 2017
We are happy to inform you that we have now distributed corresponding Bitcoin Cash (BCH) balances to those of our customers who chose to leave their BTC on our platform at the time of the fork. An equal quantity of BCH is now available for withdrawal. To withdraw your BCH funds, click here now.
As previously advised, Bitstamp used the timestamp of the last common block (block 478558), which is 1 August 2017, 13:16:14 UTC, to determine our customers' BCH balances.
In light of recent events in China, we are postponing the launch of BCH trading until further notice. We will constantly review our position on this issue as events unfold, and will inform our customers of any new developments as they emerge.
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I got rid of mine there. Wish I'd gotten rid of the rest I have. The only news on the horizon is staggering increases in supply. Coin base will be the big one but xapo is over half a million on its own.
Well yes, there will be a dip in BCH prices as the Xapo coins hit the market, and then again in Jan with Coinbase. But after that it's over. BCH is a good hedge just in case the next fork in Nov damages bitcoin. |
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In theory, as solar panels get more and more efficient, you could have a mining farm linked to a solar farm and mine completely energy efficiently.
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Well the thing that made bitcoin mainstream in 2013 was the Cyprus crisis, where the EU forced a bail-in where customers savings were seized to bail out teh banks. Even businesses which had their payroll money in their current account to do their monthly salary run, found their money being confiscated.
The EU has now made bail-in rules the norm, and the customers of an Italian bank were also wiped out. Naturally that makes people want to hold their money in a form the govt can't steal.
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What decision are you referring to?
China already made their position clear with regards to where they stand in relation to BTC.
BTCC said following the announcement that they would be ceasing operations come Sept 30th. Is that what you're referring to? If so, then the price my take a small blip but other than that nothing significant should happen...
I think people are wondering what happens to the coins on those exchanges. Lets suppose all those users had to sell their coins for yuan in order to withdraw. That means the exchanges now own a lot of bitcoin - and we don't know what they're going to do with them. |
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Volume has started to pick up though. There is sufficient demand for bitcoin from those who think "this is our last chance of buying".
In particular, this year has seen big legit investors expressing an interest in bitcoin, people who would normally be buying Apple shares, but now think they need a bit of bitcoin in their portfolio.
That said, the drama that will come in Nov with the next hard fork might derail things.
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In Britain it's classed as an asset - so you pay capital gains tax when you sell. And teh capital gain is the amount you sell it at less the amount you paid for it.
The first £11,300 of the capital gain each year is tax free. Then you pay tax at your marginal rate - so 20% if you are a basic rate taxpayer.
So as long as you don't sell all at once, and cash out slowly year by year, you don't really pay much tax.
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If you look at the order book at the bottom of your chart, there is quite a substantial sell wall at $4200. I wonder if we will see trading within a range of $4000 - $4200 till the end of the month. |
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Which one is going to be Bitcoin Gold - the one with segwit2x or the one with just segwit? (It's hard to tell from the name!)
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I believe you can still buy/sell during maintenance but just can't deposit and withdraw. What were you trying to do that you need access to those coins suddenly? Also, wallet maintenance isn't unique to Bittrex. I have an account on Poloniex and see the same message... at least Bittrex responds to support tickets.
This. You can still trade your NEO on Bittrex. They're usually pretty good at getting wallets back online too - just wait a few hours if you want to withdraw. |
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It was time that they finally made a stance on Bitcoin Cash and the best part is that everyone who had coins can make a choice to instantly get some quick cash by selling the BCH or holding onto them. Took them long enough to push this move but I'm happy more exchanges are not turning out to eat the BCH they acquired during the hard fork.
I bet you anything most of their users don't see the blogpost though (they tend to just use the XAPO card and not go to the website much), and don't realise they have just 2 and a half months to get their BCH coins out. It's a smart move from them. Most people won't see it and then they "forfeit" their right to those coins which XAPO then gets to sell. I hope people on this forum at least see the news - though most don't bother to look in this particular sub-section. Oh well. |
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Nope. It's all priced in,
We haven't heard much from users of the Chinese exchanges about whether they have been able to withdraw all their coins safely - but no news is probably good news. I'm sure that if there were problems it would be all over the forums.
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