for the past eight years they have been trying to make bitcoin legal, many countries such as Japan recognized bitcoin as a legal "currency", in US bitcoin is a legal "commodity" and so many other countries. nothing is going to happen with this legal state of bitcoin, specially in countries like US that don't want to be behind of other countries in technology.
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I've been considering starting trading and I would like to know from more experienced traders what things they wish they knew back when they started, what tips or otherwise useful information can you share with me and the other beginners? thanks!
there aren't anything that can come to my mind that i wished i knew, and this is because i started very slowly. at first i learned many things about trading, the basics, ... and then i started doing it with small amounts trying to put those things i learned to test in real action. and for a while i just worked with that small amount and every profit that i made from that small amount i put back in trading again and in time i grew my investment, making more over time. you can do the similar thing and never regret a thing.
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i have always said that it is not easy to predict bitcoin price, and future is not clear. but some things are just dumb.
for example saying that price will go to $10,000 in a couple of months to a year just because there was a rise.
the same thing goes for saying price will fall down to $500 just because a price correction happened after a fast rise to $1160 now that a couple of weeks passed with price above $800 and entering $900 range now, all those users saying things like "Crash", "since there was a drop it will drop more", "$500, $400, back to $200" have disappeared, waiting for another tiny drop to come out and start saying the same stuff again!
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Bitcoin was the most lucrative investment in 2016, still we don't see the same hype in the media as in the 2013. Since the rule about when to get out is when the investment is hyped all about the media and everyone knows about it, then we probably still have much more room to grow and to rise the price.
Also Trump's economics probably will be favorable to Bitcoin if implemented, as I already said more than once
the reason for that is because back in 2013 the rise was ridiculously big and in a short time, so it was unique in the world. and when something is like that, we always see a lot of noise in the media. but these days the rise is mostly normal like any other market for investors. and also there are lots of news in the media about bitcoin these days but they are not always about price.
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please don't randomly vote. if you don't know what SegWit is or don't know whether you should want it or not, then Vote for 3rd option I don't know Vote Yes if you know what it is and want it to be activated. Vote No if you know what it is and don't want it Strictly speaking, I'm not very familiar with all the technical aspects and gory details of the SegWit update (apart from the increase in the block size if that could count as SegWit awareness), but I know that without SegWit there can't be the Lightning Network in the future since it seems to depend on this update (as far as I know). The latter should be a giant step ahead in the Bitcoin evolution (provided it delivers on its promises, of course)... Therefore I'm all in (for SegWit activation) actually you are wrong. i am not an expect in this matter but from what i have read from experts, Lightning Network uses payment channels with Hashed TimeLock Contracts. Both of those things are currently usable on Bitcoin mainnet without segwit, so LN is possible without segwit. what segwit does is (i think) making it easier and safer. you can also read this: http://achow101.com/2016/04/Segwit-FUD-Clearupedit: funny thing is when you search "lightning network without segwit" you see cryptocoinnews shitty article spreading false information once again!
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none of them are good. in my 2-3 years of experience seeing different articles from different news sites, i always see so many shitty news from all of them. sometimes they post click-baits, sometime they even post clear FUD, and sometimes they are paid to support a shitcoin before the whales pump it.
and if you search this board you can see at least a dozen topic complaining about how each of these news sites censored the comment section when people complained about what they posted.
the thing is, these aren't really "news" sites these are just a website created to make more money for the owner. and that is all their purpose.
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actually i can not choose any of your poll choices because it matters and doesn't matter at the same time! if the coin has a big amount of total supply doesn't mean it is bad. and if the coin has a small amount of total supply doesn't mean it is good, or it is going to succeed! for me, i care more about how it is distributed. for example if it has 10 million coins and 9 million is premine or with any other scam is in control of the dev and 1 mil is open to public, that coins is dead to me
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Because keeping private keys (by yourself) is troublesome, one of bank's services in the future will be keeping private keys for customers. They won't need to create their own currencies if they can convert enough of the population over using this system.
The customer visits bank and is provided a "bank account" which is a managed address on the bitcoin blockchain. The customer can still have personal addresses, but this address will be secured and guaranteed by the bank and have attached banking services.
i don't agree with this because first of all, keeping private keys by yourself is one of the main purposes of bitcoin! to be your own bank without any central place to rely on! so if you want to keep private keys at banks then just keep fiat in banks, why bother (and we are talking about future, and price won't be as volatile now) also keeping private keys safe on your own is easy as cake. either pay for hardware wallet and keep safe, or other many cold storage methods for advanced users. p.s. making a bitcoin bank account like what coinbase does and customers don't have private keys is different from holding private keys.
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bitcoin price rises only because of adoption and because of the big potential bitcoin has and wise investors see that clearly. all the side news like Trump victory, ... are side news that can temporarily change the price for the better or worse. but that last short term. the over all trend is rise and will remain that.
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so far there is no similarities between nowadays and 2014 days. starting from the rise, it was slow and strong unlike that rise which was fake and fast. and now, with passing of each day we can see that the drop was nothing more than a fake FUD dump for the whales to get more cheap coins in their pocket. i don't want to start another moon speculation but we will see $1000 again sooner than you may think.
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based on my experience, whatever you end up doing for your cold storage, one important thing to do is to keep multiple backups from it. because any method has some kind of risk of losing. you can lose it by misplacing the paper! but keeping 2 copies at least makes it twice safer in my opinion. although you should keep them seperate obviously
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from my experience with being in bitcoin community for a couple of years and trading both bitcoin and altcoins, and also seeing people talk about this topic i came to the conclusion that you need to do what you think is true. what i mean is that if you think trading is like gambling then treat it that way and if not then good for you. because in my experience we can't change the mindset of some people about some topics such as this one.
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from Trump's election until today we have seen many good news and rises, and i think it has been really effective in this rise. but i don't think he will drive the price up to $2000 alone ! unless he drives US economy to shit, which is unlikely, i don't see him being the only reason for bitcoin price rise.
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Ver wants Bitcoin to split by hardfork just like Etherium First I thought it was photoshopped, I had to personally see this on Twitter to know it's real. The fact is that Ethereum had chances of being in a much better position if developers decided not to fork it... and back to Bitcoin, it's hard to believe that this guy is playing in the community's favor with such statements. Nah, as you said this tweet is legit, here is the source for everyone interested to see the responses of people : https://twitter.com/rogerkver/status/761973787294330880?lang=enI was wondering about it, Roger is very rich bitcoiner, he owns shitload of coins, so do we really think he would want bitcoin to fail? It would destroy his own wealth in the process. just a thought: someone who calls a non-consensus, centralized fork which was more like a dictatorship from the devs "a good thing" is obviously benefiting from it
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In a price range such as this I was curious how most of you hold/trade your asset. Such as just hold and never sell, position trade based on price and or swap currencies through an exchange for another and or cash out.
This is something called investment strategy. Everyone has different from the other. It makes one a successful investor while other a not. Everyone will has different opinion towards this question. I believe there is no good to sell or exchange for other currencies seeing little increase in value. Such panic selling depreciate the value of Bitcoin again. Hold your investment as long as you can. "Warren Buffett is holding his shares from 1964, now he is 3rd most richest person on Earth, don't know about space". yep, have to say i haven't sold any although I used some to purchase collectibles here as it was the only acceptable currency. Been buying under 900 and will most likely continue up to $1,000 in 2017 Also bought in 2016 loaded physical coins when BTC was under $600 as a duel long term investment good points but selling is not a bad thing necessarily. why you sell/spend the coins is more important. for example selling when you feel like there is a bubble that is about to pop is a good idea, but as long as you are not doing it as a panic but as a well planned strategy. and then buy back when it is over and price is low enough. or for example if you need the money that you invested to buy something. for instance i bought many coins when price was $220 and then again when it was $430 and i sold a little bit around $1000 because i needed some money. but in general i am buying bitcoin every week that i have money lying around.
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Is bitcoin expected to rise immediately on the 20th?
no, because nothing magical is going to happen on that day. even if we assume that Trump is going to be a good force for bitcoin's future, there still has to be time and at least a year to see the positiveness of his possible actions towards bitcoin. and also even if it is a rise based on hype, it should happen today (so maybe this rise was because of that). every time there is such a rise it happens before the events.
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Do you trust the home of banking to be the new home of cryptocurrency?
Is this be a good thing for the future of cryptocurrency or will this just ensure that the banking system continues to control currency?
well i believe banking system will continue controlling currency for the foreseeable future and nothing can change that because people are quite happy with how things are and they are not seeking any change. but as cryptocurrencies go, i have seen some action in Switzerland that looked so promising for the future of them but i have seem much more in other countries.
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A lot of the issues bitcoin faces are like the y2k bug.
They're blown out of proportion.
Sometimes by those who want to takeover bitcoin or influence matters to suit their own agenda.
i wouldn't even call them "Issues" because what you are referring too are mostly FUD that some people with clear agenda spread everywhere. we are facing some issues with bitcoin, but there is nothing serious and nothing to worry about, but these certain people use it to their own advantage, and then take full advantage of lack of knowledge that some new users have and fulfill their agenda.
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i don't know with other people, but i choose bitcoin is because bitcoin can help me to make real money that i can use to buy something and i can make little saving in my bank account.
Great of course that Bitcoin allows you to earn a few extra bucks, but through what ways do you earn these coins? Would be interesting to know instead of only saying "I can make money with Bitcoin". Earning here is just part of the bonus for supporting bitcoin but it is not really the benefits, the big benefits here is that we were able to transact online very fast and cheap and we can consider what we are holding as our investment in the future. For me, earning is the best reason why i choose bitcoin than other digital currencies. With bitcoin, i can earn money without spend my money. Other digital currencies like paypal and perfect money also have, but the rates is really low. When you're offering service and someone is going to make a deal with you i think that your client will determine the amount of bitcoin equal to USD so they will know how much he'll spend for your service and it's no different when you're earning with paypal and perfect money, unless majority of your client is someone who don't care about spending and managing money. when it comes to earning through bitcoin, at least for me, it is not just about the amount you get. obviously when you offer a service you earn the USD equal value of it but it is mostly about a new additional way of making money. for example before i knew about bitcoin i never thought i could have a secondary earning option online! now i am trading mostly and making a decent amount of money at the end of the month in addition to my salary.
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the chances of a crash like 2013 is zero for sure and the chances of a crash is also nearly zero and i only say nearly because bitcoin is unpredictable but in fact that is also zero. people usually see only the change, they don't look at the bigger picture. they see $100 rise they think we are going to the moon but in fact it was a temporary tiny rise. and also when they see $100 drop after a $200 rise they panic and start saying bitcoin is dead. and that is just a correction if they use their brains.
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