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. |
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I was just surprised how we reacted to the whole China closing exchanges news.
They are just one country and like other say, they will be forgotten soon enough.
The momentum that Bitcoin will unleash soon enough will indeed make this moment insignificant.
China has do what it wants, the whole world can see that Bitcoin is needed and will adopt.
It's because investors had this narrative of "1 billion people adopting bitcoin", and were ignoring that China had banned merchants from accepting bitcoin as far back as 2014, so adoption was never going to happen there. Once the price rose and people started using it for capital flight, they were bound to crack down on the exchanges too. |
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It depends very much on how volatile the coin is. With coins that regularly move at least 10% a day up or down, you can have a high percentage for your ping-pong.
But with some coins, like litecoin, ether etc, which move only a few percentage points in a day, you'd need a low percentage. But those coins compensate with high volume, so you are likely to do more trades. So you need to calculate which is more profitable.
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https://news.bitcoin.com/korea-on-site-inspections-bitcoin-exchanges/The Korea Communications Commission and the Ministry of Science and ICT announced on Tuesday that they will cooperate to conduct on-site inspections of bitcoin exchanges, according to local publications. Zdnet Korea elaborated:
"The Korea Communications Commission (KCC) plans to conduct on-the-spot checks on the implementation of technical and administrative safeguards for personal information pursuant to the Act on the Promotion of Information and Communication Network Utilization and Information Protection, and to strictly rectify any violations."
In addition, “the KCC will provide information security consulting and technical support to service providers who handle digital currencies online, and will guide them to reduce their own security vulnerabilities,” the news outlet clarified.
“This check is due to the increase in user damages due to subsequent hacking accidents involving virtual wallet hacking and personal information leakage,” The Korea Herald wrote. “The government plans to prevent the occurrence of similar damages and to provide an environment for safe service utilization through inspection of companies handling virtual currencies.”
In July, the country’s largest bitcoin exchange, Bithumb, was hacked and the personal information of over 30,000 customers was leaked. In addition, US cybersecurity firm Fireeye revealed earlier this month that a cyber-espionage group called “Temp.Hermit” launched cyber attacks against Korean bitcoin exchanges between May and July. It looks like this was sparked by the Bithumb fiasco - they don't want it to happen again.
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That's because he invested just before the big bull market took off when every coin got pumped. If he had started his experiment in May, he'd be nursing losses on everything. |
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Back in 2014, some people did this - they put $100 into every alt that existed.
But they never came back to say whether this was a profitable strategy - I'm guessing that the long bear market of 2014 - 2016 destroyed all their profits.
It's not a bad strategy - it's similar to what venture capitalists do - scatter the money and hope that one investment makes it big enough to compensate for the rest. But you need nerves of steel and patience enough to wait out the bear markets.
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See this blogpost: https://blog.xapo.com/time-to-convert-your-bitcoin-cash-bch/They're giving people two options a) withdraw the bitcoincash and b) sell the BCH for bitcoin. But they're setting a deadline of December 14th 2017. If you haven't withdrawn or sold by then, you lose your bitcoincash coins. |
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Trading with not is a bad idea, it can make you to run into huge losses. I prefer trading manually
what if there was a bot with no losses? LOL. All the trading bots make losses - and they're responsible for the wild swings in bitcoin, because they can't handle unexpected events, so they often sell at the bottom, sending the markets further down. Think about it - if you had a bot that worked beautifully, would you licence it for $89 to others? Or use it yourself to make millions? |
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Paypal is under pressure from Western Union and Visa/Mastercard. It's not under pressure from Bitcoin because bitcoin fees are so large, hardly anyone uses it. Here are the number of transactions in the last 24 hours: https://bitinfocharts.com/comparison/bitcoin-transactions.html249.871 transactions. Paypal does that in about 20 minutes. |
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That's a long way off, and in the meanwhile fintech firms need a bank account so they can interface with merchants and other users. I think the lesson from this is that businesses need more than one bank account in more than one country, so that they can continue to function if any one bank plays dirty. |
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I've kept all my Bitcoincash coins, "just in case". I figure if the segwit2x split is nasty, then BCH might benefit. As long as I come out of it with my overall funds holding their value I'm not fussed.
Also, something that hasn't been touched on - a lot of Japanese miners are going to come onstream starting in October and no-one knows what they think about segwit2x at all, so the uncertainty is huge.
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https://www.bloomberg.com/news/articles/2017-09-26/singapore-cryptocurrency-firms-facing-bank-account-closuresSingapore banks have closed accounts of several companies which specialize in providing cryptocurrency and payments services, according to two local bodies which represent financial-technology firms.
Noting that cryptocurrency firms have had similar problems with their banks in other countries, the head of Singapore’s Cryptocurrency and Blockchain Industry Association, or Access, asked the government to step in.
“From our analysis, it appears to be common among leading FinTech hubs,” Access Chairman Anson Zeall said in an emailed statement. “If this is the case, we would urge Singapore to take a leadership role and demonstrate how to come to an effective resolution among all parties.”
Zeall said his organization had heard from 10 companies which had encountered problems with their banking relationships in Singapore. The banks didn’t give a reason for their action, Zeall added.
The Monetary Authority of Singapore, the country’s central bank, said in a statement that it doesn’t interfere with commercial decisions taken by banks “including those in relation to the establishment and termination of business relationships.” Banks are expected to establish suitable procedures and controls, including those governing customer transactions and relationships, and to comply with customer due diligence requirements of MAS rules on preventing money laundering and the financing of terrorism, the statement added.
Chia Hock Lai, president of the Singapore Fintech Association, which has broader membership than Access, said some of his organization’s members also experienced account closures, though he didn’t provide figures.
Neither organization named the banks which had closed their member firms’ accounts, but Access said the action had been taken by a “range of financial institutions.” Access has 106 members and the Fintech Association has 185, though the two organizations said some companies belong to both groups.
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The only thing that connects us from China is the bitcoin mining industry. If they choose to close it as well we can still survived but of course there will be a negative effect on the price. However, other countries like Japan and South Korea can still take over the mining business. I read that they are not going to shut it down though. Bitcoin is really unstoppable, perhaps temporary but it will still flourished even without the biggest backer eversince - China. Because others are just waiting and willing to fill the void that they have left.
The biggest internet provider in Japan GMO, has already announced that they are going to start mining from 2018. I think they were waiting for Japan to make bitcoin legal before making their move. Hopefully next year should see the China influence on mining diluted by quite a bit. |
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I don't believe it. I think China has lost so much money with various types of capital flight that they're clamping down on all of them.
In a way it will be good to get the whole China thing done and ended, and then we can grow with these "china is going to ban bitcoin" stories we've had consistently since 2014.
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if you read my post 4 days ago. surely you will profit 50% more. But on this day floor price DOGE is 19 Satoshi.
Maybe doge Will be back to 40-70 Satoshi but need long time ,.I'am guess 2-3 month or next year..
I Will get it on price 20 Satoshi , buy ASK on market .
experience is more valuable when determining when the right time to buy, of course with the right consideration there is also a supportive news. Good call. Doge is now at 30 satoshis - so that was a 57% gain. Nice. |
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See the following thread on reddit: https://www.reddit.com/r/Bitcoin/comments/72j7ur/kraken_no_longer_allowing_usd_withdraw_for_usa/Where the person having trouble withdrawing received the following message from Kraken: Thank you very much for reaching out to us. Unfortunately, due to a temporary technical difficulty with USD funding for US residents, we will be unable to address your issue for an undetermined period of time. All other site functions are working as intended. Please let me know if there is any other assistance you need. We will update you as soon as this current issue is resolved. That sounds like they are having problems with their American banks. Their euro withdrawals are working (they go through Fiidor bank). |
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It's an unverified rumour. Amazon is a control-freak company - so it's unlikely that they'll accept bitcoin for payments. Back in 2013, they launched their own cryptocurrency called Amazon Coins: https://www.theguardian.com/technology/2013/may/14/amazon-coins-virtual-currencyAnd they sell them on their website: https://www.amazon.com/gp/product/B0096E8CQA/It says: Save up to 25% when you buy Amazon Coins
100 Amazon Coins are worth $1.00 to spend on apps, games, and in-app items
Coins you buy never expire
Use Amazon Coins on Fire tablets, Fire TV, and on any Android device through the Amazon Appstore Unfortunately the feedback wasn't great - click the amazon link about to read the reviews! |
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https://www.theregister.co.uk/2017/09/25/showtime_hit_with_coinmining_script/The websites of US telly giant CBS's Showtime contained JavaScript that secretly commandeered viewers' web browsers over the weekend to mine cryptocurrency.
The flagship Showtime.com and its instant-access ShowtimeAnytime.com sibling silently pulled in code that caused browsers to blow spare processor time calculating new Monero coins – a privacy-focused alternative to the ever-popular Bitcoin. The hidden software typically consumed as much as 60 per cent of CPU capacity on computers visiting the sites.
The scripts were written by Code Hive, a legit outfit that provides JavaScript to website owners: webmasters add the code to their pages so that they can earn slivers of cash from each visitor as an alternative to serving adverts to generate revenue. Over time, money mined by the Code-Hive-hosted scripts adds up and is transferred from Coin Hive to the site's administrators. One Monero coin, 1 XMR, is worth about $92 right now.
However, it's extremely unlikely that a large corporation like CBS would smuggle such a piece of mining code onto its dot-coms – especially since it charges subscribers to watch the hit TV shows online – suggesting someone hacked the websites' source code to insert the mining JavaScript and make a quick buck.
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https://cointelegraph.com/news/bitcoin-trading-at-85-premium-in-zimbabwe-priced-at-7200The use of Bitcoin in Zimbabwe has grown exponentially as the government has begun to stop all credit card payments and has restricted the flow of cash into and out of the country. People wishing to make payments for vehicles have been forced to use Bitcoin and car lenders are happy to accept.
In all the chaos, the price of Bitcoin on the local exchange, BitcoinFundi, has soared to $7,200. This premium reflects a frantic desire to find ways to transact within an economy where government controls have made traditional means impossible.
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So what happens next in Japan, which explicitly legalized bitcoin in April, is important. Exchanges there have until the end of this month to register with the FSA, which has set up a team of 30 people to examine their security practices and the required separation of customer assets from their own. I know regulation is not very liked here on these boards, but I find it actually very positive that the Japanese Government is taking steps to protect its citizens from fraudulent exchanges. They probably took a lesson from the whole MtGox debacle. If you want to retain your privacy there's still p2p trading. But if you're just a regular Joe that simply wants to securely invest in Bitcoin without having to navigate around potential scams then that's a very reassuring move. I think what is worrying the Japanese regulators is the sudden influx of traders from China to the Japanese exchanges. They don't want to be party to any capital flight from China, they just want the Japanese exchanges to be doing legit trade for Japanese customers. |
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