I don't get it. china declared that they're going to banned exchanges of coins from their country that's why people do panic selling that's why bitcoin had a big dump this past few days. and now they're buying ? hmm. I smell something from this scenario. im lucky because i didn't sell out my coins when bitcoin had a big dump under $3000.
The initial reaction was of course panic selling, but if you give people one they will reflect on their positions. While exchanges may be shut, buying and selling Bitcoin over the counter is allowed. If I was in China, this might be an opportunity to build a nice crypto portfolio. But what would you do with the portfolio you built up? The Chinese can't access the western exchanges thanks to the Great Firewall. So to sell they'd need to travel in person to Macau or Hong Kong and find a local bitcoin dealer to sell to. And all that travelling, hotel costs etc adds cost to the sale. I think they'll get out of crypto and find something else to put their money in. |
|
|
|
JP Morgan has long been planning to crash the market in order to buy cheap bitcoins. They spread negative FUD and everybody panic and started selling Bitcoin, so the price went down as they plan, and then they buy bitcoin more cheaper.  The market didn't crash because of JP Morgan, it crashed because of China. I'd be surprised if JP Morgan knew China was going to close the exchanges - they have good connections, but even they don't have connections in the PBOC. |
|
|
|
I owe about $50K on my mortgage. Should I throw 15BTC at it and be done, or keep paying the minimum and HODL the coin as an investment? 15BTC is <20% of my holdings that I purchased at $250/coin back in 2015, by the way. Thanks in advance!
Pay the mortgage off and be done - that way you never have to worry about your shelter again. The peace of mind is literally priceless. With the money you free up from no longer making monthly payments - reinvest that into bitcoin. That way, you'll rebuild your stash AND have a home free and clear. |
|
|
|
|
Sounds like a great plan. The real pain people feel when investing is losing their initial investment. So cashing that out and taking profits regularly means you are always in profit and ahead of the game. And you can always use some of your profits to buy the dips so that you always hold the same amount of coins.
|
|
|
|
Here's the REAL question - if the Chinese government DOES try to ban Bitcoin (which has been rumored by a few places over "capitol flight" and "funding illegal activity" worries), what happens to Bitmain BW.com and the other miner manufacturers in China?
Innosilicon can just revert to their pre-mining semiconductor house status, but most of the rest don't HAVE a fallback position....
They are businesses, so they can easily just set up operations abroad - Chinese businesses are allowed to have overseas subsidiaries. |
|
|
|
China is buying hell out of the market on okcoin. Almost 10k already.
Something's brewing...
It might be just short-covering, rather than anything real. |
|
|
|
Back in February 2017, a Chinese bitcoin mining company opened a branch in Sweden: https://www.cryptocoinsnews.com/chinese-bitcoin-mining-firm-canaan-to-open-10-mw-facility-at-node-pole-sweden/China-based Canaan Creative, a bitcoin mining firm commonly known by Avalon, its bitcoin mining chip brand, will open a data center powered by hydroelectric power at the ‘Node Pole’. Owned by power companies, the technology infrastructure hub is situated in the Boden region near the Arctic Circle n in Sweden.
Canaan, which manufacturers ASIC microprocessors, claims to be the first Chinese bitcoin company to open a data center in Europe. The facility will operate at 10 MW at its initial stage, leaving room for expansion in the future. So they at least are preparing for the possibility that China will ban bitcoin mining and are setting up operations abroad. If it is true then nothing can be better for the future of bitcoins. China cannot be trusted anymore definitely. They keep on making bad announcements about bitcoins which affect the newbies very hard. People have sold out bitcoins in last few days. However, if I am not wrong, China banned bitcoin trading in December 2013 also. And don't forget that Japan's biggest internet provider GMO intends to enter the bitcoin mining space as well. Because anyone can mine, if the Chinese drop out, some other entrepreneurs from other countries will take over the mining and bitcoin will march on regardless. That's the beauty of a decentralised system. |
|
|
|
I like the following site: https://coinalyze.net/You can see live prices in real time across a bunch of exchanges for BTC, LTC, Eth, monero, dash and a bunch of others. It also shows changes over 24 hours, 7 days and 30 days. If you day trade, it's really useful. |
|
|
|
I would love to see doge coin make new heights in 2018 and in the coming years, but because of its unlimited and huge supply, I don't expect it to rise significantly. But you can never say what will happen in the world of cryptos and since doge has a vibrant community, it is good to add to the portfolio.
Doge gets pumped roughly once a year, sometimes once every 9 months. See the following chart: https://coinmarketcap.com/currencies/dogecoin/That's why it's always worth accumulating some cheap doge and holding them ready in case of a pump. You can then make several hundred percent profit once the pump gets going |
|
|
|
https://cointelegraph.com/news/how-bitcoin-could-free-catalonia-from-spains-dictateOn October 1st, Catalan nationalists plan to hold a referendum on leaving Spain, and to declare independence if they win. However, a recent article from BBC indicates that the “Gobierno de España” will seize Catalan finances in the next 48 hours if the ‘illegal’ referendum vote is not brought to a halt immediately. This situation has brought Bitcoin into the spotlight as a potential solution to the conflict. In this brief article, CoinTelegraph will attempt to analyze how Bitcoin could free Catalonia from Spain’s mandate.
Cristóbal Montoro, Spain’s finance minister, said that a mechanism had been approved for the state to take control of Catalonia’s finances. The Spanish intend to take this step to prevent any public money being spent on the independence referendum.
The ministers also delivered an ultimatum for Mr Puigdemont - sign an agreement within 48 hours that public funds will not be redirected for the referendum. If the deadline is not met, then the Spanish government will seize control of the part of the Catalonian budget destined for public services and salaries.
Satoshi Nakamoto created Bitcoin right after central banks tanked the world economy and induced a year-long economic depression. The purpose of cryptocurrency is to serve as a tool for freedom, which is exactly what Catalonia is looking for right now.
In a decentralized financial system where every State/Autonomous community has full control over its finances through the use of cryptography and Blockchain, the central government wouldn’t be able to seize any funds. Catalonia‘s current situation is an interesting case study for how countries could adopt decentralized cryptocurrencies on a large scale.
According to Blockchain.info, there are currently 16.8 mln Bitcoin wallets in use. However, this number should be taken with a pinch of salt since a user can have as many wallets as he wants. Therefore, the actual number of people using Bitcoin is probably significantly lower than the total number of active wallets.
The autonomous region of Catalonia currently has around 7.5 mln inhabitants. In the unlikely event that Bitcoin was implemented as an immediate method of payment, the Bitcoin Blockchain would probably suffer from significant congestion and elevated transaction fees. This could complicate the transition for Catalonia to a decentralized financial system. Potential solutions to Bitcoin’s scalability issues, like Lightning Network, would help Bitcoin to take on such a large influx of users. The alternative of course is for the Catalans to create their own cryptocurrency that doesn't have blockchain congestion. The opinion polls are showing that the independence movement is leading 54% - 46%, so watch this space.
|
|
|
|
https://www.coindesk.com/bitcoin-browser-google-apple-move-adopt-crypto-compatible-api/Developers at some of the top tech companies have created a browser API that could soon make it easier to buy goods and services online with cryptocurrency.
The work, started by the World Wide Web Consortium (W3C) with the help of Microsoft, Google, Facebook, Apple and Mozilla, is a tangible step forward for a currency-agnostic web payment standard first conceived in 2013. Equally, as bitcoin and other cryptocurrencies gain more momentum, the launch signifies the growing recognition of cryptocurrency as a payments technology.
Indeed, the W3C has gotten more interested in blockchain technologies over the years, hosting its first ever blockchain workshop in June last year. But while participants were left with interest in standardizing and democratizing the technology's use, no formal work was decided upon then. That, however, has changed.
Announced on Thursday, the API is currently being implemented in browsers including Google's Chrome, Microsoft's Edge, Apple’s Webkit, Mozilla’s Firefox, the Samsung Internet Browser and Facebook's in-app browser. When activated, the Payment Request API will allow new payment types, including bitcoin, ether any any other available cryptocurrency (as well as more traditional online payment methods) to be stored directly in the browser.
Consumers will then be able to choose from a drop-down menu of available payment methods supported, a kind of expansion on the auto-fill feature already widely enabled at checkout.
And with that, Ian Jacobs, head of the W3C's payments activity, said now's a good time for developers to start writing code for payment methods they'd like to see available.
|
|
|
|
With real projects coming out, I have to feel dogecoin's time has come to an end. We won't be seeing big pumps again.
The market isn't really interested in "projects", haven't you worked that out yet? The key to coins that are pumped is whether they are easy for the pumpers to accumulate in advance, and doge fits that bill. |
|
|
|
if it is true,bitcoin will die soon
Not really - there are miners outside of China you know, and the difficulty will drop if the Chinese miners bow out. Japan's GMO internet group has already said it wants to do mining: https://www.bitsonline.com/japan-gmo-bitcoin-mining/Japan’s GMO Internet Group is going into Bitcoin mining, starting 2018. The online services conglomerate announced today it would look to develop and produce 7nm chip technology, and set up a “next generation mining center” in northern Europe.
GMO believes Bitcoin can usher in a “new borderless economic zone”, by sending value anywhere instantly and reducing remittance costs. To enable Bitcoin to develop and spread, the company would contribute by mining to help secure a reliable network.
The firm also said it would launch a cloud mining business, sell theGMO internet Japan hardware it develops, and supply bitcoins to its digital currency subsidiary GMO Coin Co., Ltd. However it hasn’t yet decided when these commercial operations would start.
It revealed the approximate design concept for the mining operation is a 10 TH/s chip consuming 500W or less. The aim is to produce 50,000 chips for a total hashing power of 500 PH/s.
The northern European facility would run on renewable geothermal and hydroelectric energy. Although GMO didn’t specify which country would host the equipment, places like Sweden and Iceland have been popular bitcoin mining locations in the past. This is due mainly to naturally cold temperatures above the Arctic Circle, and ready availability of the power sources GMO described. |
|
|
|
|
Probably another wave of selling. There is a new rumour going round that China might ban the bitcoin protocol itself, which would halt mining.
Who knows if it is true? The problem the markets have is that earlier rumous about China were dismissed and then turned out to be true, so now they're paying attention to every single rumour going, "just in case".
|
|
|
|
So, I'm loving that Bitcoin and other cryptocurrencies are crashing. It's been giving me plenty of opportunities to buy in on the markets. However, the markets are so low that I've bought ALL IN with my funds.
Here's the problem...
So many cryptocurrency markets are tanking... which means there are SO many opportunties to make money. But I can't buy anymore, because I'm all bought in.
Do I now wait until we go to the moon (or at least another high)? Do I try to day trade this?
How would you approach this?
The waiting is killing me and I want to play in the markets more!
If you are all in and have run out of money, you are all in. Nothing you can do about it. Just console yourself that there will be other crashes in the future you can take advantage of (bitcoin has them practically every six months!) |
|
|
|
|
The answer is Yes - the closing of the dodgy Chinese exchanges makes it more likely that an ETF is approved for example, which would bring in a huge amount of institutional money from pension funds and the like.
When the SEC ruled on the ETF at the start of the year, they specifically mentioned price manipulation in unregulated exchanges for their reason for denying the ETF. They were referring to the Chinese exchanges which had fake volume, probably fractional reserves and all sorts of dodgy practices.
|
|
|
|
While eating breakfast, I was watching GDAX this morning and saw several trades at 2,800 level...I almost dove in myself but reading the charts...it looks like it hasn't bottomed out yet. As tempted as I am, I will continue and patiently wait......  You should have dived in. It's about $3600 now - you would have netted a nice 28% profit! |
|
|
|
Actually the way china has been acting for these past months has been annoying, they have been interfering with the affairs of the market and causing lot of issues for everyone. I need to know why they are acting like this
They have to improve their monetary policy. 75% of their wealth left the country in only a few years. To that effect, China implemented strict capital controls. A lot of rich Chinese are buying real estate in North America. With their government's tight currency control policy, they are not able to move enough money abroad to purchase those real estate. Bitcoin exchanges made it possible for them. It made those currency control policy useless. China doesn't dislike bitcoin, it's because this was one easy way for people to get money out of their country and into a mansion in Usa, Canada, Australia etc. Many Chinese here in Cyprus getting Cyprus Citizenship and buying houses to become EU citizens. There are millions of rich Chinese who want to have more ways to spend their money and want to live outside of China. They are trying to stop the flow of capital going outside China. As long as Chinese arr mining bitcoin and dumping on the rest of the world they do not mind that but if Chinese are spending money in foreign ICOS they do not like that. Also within China many scams are coming so they have to stop that. I think once the PBOC can regulate Cryptos then we may see the exchanges come back. The current Chinese president is very authoritarian (more so than the last president). He's been cracking down on corruption, though strangely it seems to affect mainly his opponents, and I think a bunch of rich Chinese are just trying to get out. The Chinese govt is responding by trying to close off all their avenues. |
|
|
|
Jamie Dimon might not believe in bitcoin, but his customers do and are instructing them to buy on their behalf. Also, JP Morgan have been trying to get an alt off the ground - https://www.jpmorgan.com/global/Quorum which is based on the Ethereum platform, and I guess they're miffed that their customers arn't interested and want to buy bitcoin instead! |
|
|
|
|
Show Posts
