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2601  Economy / Trading Discussion / Re: 2% trading strategy, can this be applied for crypto trading? on: September 27, 2018, 06:57:51 PM
Well it depends on yourself, it can be a good strategy to put a 2% stop lost, for me it's not too suitable,the reason is because crypto got a high volatility the 2% of lost can be easily happen and the bounce back again,it maybe a good strategy for stock but for crypto maybe the stop lost is too near
It does depend on the type of coin you plan to trade as well, but why not just have a more flexible range that you adjust based on the coin and the market situation? It grants you way more freedom to ride out waves.

Crypto forces you to be flexible, otherwise you'll be working against the market, and believe me, people burn themselves doing that. That being said, pot stocks are just as volatile in the more recent months.

It's insane how even the security triggers halting trading can't prevent the market to adjust itself to the craze happening there, which clearly points out that there is a lot hype related retail money involved there.

Imagine how many shorters have rekt themselves by shorting pot stocks during their prime days.
2602  Bitcoin / Press / Re: [2018-09-26] The Current State of the Bitcoin Network and Its Biggest Block on: September 27, 2018, 03:13:49 PM
Currently on the Bitcoin network, the average block size is 0.804MB and there are an average of 1609 transactions per block — that is why a block like 540107, which is 2.26MB big but only has 230 transactions included in it, is such an anomaly.
Anomaly? It's pretty clear that the one who wrote this is just cherry picking. Block 540107 was found ~1 minute after block 540106 which consisted of 2328 transactions. Both blocks were mined by BTC pool.

It's just Bitmain not picking up more transactions to allow nodes more time to validate the previous block properly. Don't forget that it takes extra time for Chinese miners to push blocks through the great firewall.
2603  Bitcoin / Press / Re: [2018-09-25] Financial Expert Pinpoints Signs Confirming Bullish Bitcoin Sentime on: September 27, 2018, 02:20:37 PM
I thought Andreas Antonopoulos was totally against ETF as this will give the custodian so much power?
He is against ETFs, but he also said that there is no way to avoid them as it is only a matter of time before one will be approved, which seems to be a more than realistic perspective from his side.

Regarding the custodian power, I'm not so sure how much that matters. Why isn't he worried about Xapo's custodian power with how they stated that they hold like $10 billion worth of Bitcoin somewhere in a bunker?

the split was just one catalyst of the massive bull run we witnessed last year. I believed that Japan entering the picture started it and then followed up by several events like the fork, and completed by the CBoE and CME bitcoin future contract offerings.
Don't forget South Korea's entrance. It was truly a perfect bull run year in each and every way. Don't think there has ever been a time where we had so many bullish triggers as in 2017. No wonder the price went to the moon.
2604  Bitcoin / Press / Re: [2018-09-26]Bitcoin Mining Giant Bitmain Just Officially Filed for an IPO on: September 27, 2018, 01:56:47 PM
How sweet, a calculated BCash pump yesterday following the news of their IPO application, and as happened with other calculated pumps, yet again a 20% increase. They aren't doing much to cover how Bitmain tied that coin is. It's pretty much a stock or security, just like how XRP moves up and down based on Ripple's performance.
It's up even more as we speak. It really looks like they want to bump their Bcash holdings in an attempt to tease everyone reviewing their position. My guess is that they will try to reach 0.1BTC as benchmark value.

This pump will more likely signal that they are trying to manipulate the value of an asset they are so deeply invested in. Seriously, what business does something like that? It only makes an actual listing less likely.

XRP went up significantly after the announcement that xRapid is very close to becoming operational, so it's more than similar how news concerning the main company affects its underlying asset.
2605  Economy / Speculation / Re: Why do people keep saying bitcoin is disappearing? on: September 26, 2018, 11:18:48 PM
I laugh at all that nonsense. Seriously, the amount of crap we have to dig through due to all the newbies that entered last year and haven't seen anything of the crypto world, are a total disgrace to everything crypto stands for.

I'm afraid that this is only a glimpse of what we will be going through in the next couple of years. Mainstream adoption has different layers and as time goes by, we'll get to a point at which grandma and grandpa are hooked as well.

While it's difficult to ignore all the nonsense that we are exposed to, it's worth at least trying. It's an utter waste of time digging through all that in an attempt to find worthwhile content and discussions.
2606  Bitcoin / Legal / Re: Some countries where Bitcoin is legal, illegal or neutral! on: September 26, 2018, 10:07:19 PM
I've used bitcoin in some of the countries listed as places you can't use bitcoin.   Cheesy
Literally nothing prevents others from doing the same. I'm glad that people value their rights over that what the government thinks is "better" for people to follow. It's about time for sheeples to un-sheeple.

China's measures to combat crypto versus fiat trades has done nothing other than driving people to go local, and let that be where governments can't do shit about people. They shot themselves in the foot by doing that.

It's funny how governments fail to learn from other countries who "banned" crypto. Maybe there is some form or arrogance that makes them believe that their word is enough for people to stop dealing with crypto.....
2607  Economy / Exchanges / Re: Why withdrawal of BTC in Exrates exchange takes longer? on: September 26, 2018, 08:14:58 PM
So I think it is better to wait for maintenance on Cryptopia because Cryptopia gives me less fee than Exrates exchange.
Cryptopia might charge lower fees, but over a longer period of time they will give you more problems and headache. Browse through the internet to see how many complaints and scam accusations against them are open.

That being said, by dealing with utter shitcoins you will always subject yourself to shitcoin exchanges and their problems, so it has to be calculated in. Everything has a price, and that applies to these coins as well.

Some exchanges process the withdraws in batch 3-4 times per days. For example, payments are sent ay 6.00 am 10.00 am 2.00 pm 6.00 pm.
On their side, I don't what benefits they get from it, but users can save the fees, as with this method the fee charged is 0
Most obvious benefit aside from cutting on fee costs is the fact that by manually processing withdrawals, you don't have to use hot wallets, which means that in case of a hack there won't be any coins stolen.
2608  Economy / Exchanges / Re: The coinbase bundle & new alt listings on: September 26, 2018, 07:36:32 PM
It wouldn't really surprise me that the current process is more hype based than actual utility based. I doubt we'll see Coinbase list a shit ton of coins just because people ask for it. They'll stick to tier 1 coins and that's it.

If they end up listing more than 3 new coins before the end of this year they have beaten my expectations. It's in their nature to act high class because that's what they are known for.

These developments make sure that the altcoin part of the market becomes more independent overall, and within 5 years the demand to trade Bitcoin versus an altcoin will be close to its lowest ever point.
2609  Economy / Economics / Re: Taxes on Crypto Currencies and Mining! on: September 26, 2018, 09:41:15 AM
BTC > TrueUSD
Problem solved.
You wish. If you cash out profits, whether it's to fiat or another crypto currency, you have to pay due taxes. If it was that easy to game the system governments would have changed everything by now already.

It still seems that people don't know how taxation works, likely because many of them haven't ever paid a penny in tax or they just blindly assume that you can work your way around the system.

Trading on centralized exchanges is a direct gateway to governments, especially when it comes to Coinbase and Poloniex with how regulated they are. The rest of the exchanges will follow in the coming months/years.
2610  Economy / Economics / Re: Why Malta is the most favored Location for Crypto Exchanges? on: September 26, 2018, 08:26:47 AM
Why would I select to open a company in USA, UK, France, Germany or similar and be strictly followed and pay insane amount of taxes when I can bring my business to Malta and make boatloads of cash right on day 1 without worrying about government putting its nose in my business ?
It still isn't a guarantee that the government won't do anything to you as exchange or service when you have settled yourself in Malta. If they really want something from you, they'll get it regardless of where you are.

Historically speaking, governments have done it numerous times already with other businesses in Malta, so why would it be different when it comes to crypto? Doesn't make much sense to me.

The US government has its roots pretty much in every country and they are called the world police for a reason. Malta offers more freedom for businesses overall, but definitely isn't the safe haven people think it is.
2611  Economy / Service Discussion / Re: Top of the best platforms for cloud mining on: September 25, 2018, 10:56:55 PM
Protip for newcomers: Stay away from cloud mining. Worst case you're getting scammed, best case you're getting hashing power for a price that will never turn a profit. Don't underestimate difficulty increases, my friends.
It's incredibly difficult to make people actually listen to what we are saying here. In most cases they jump into cloud mining after having watched paid shills on YouTube praise generating passive income through cloud mining.

Maybe it's time to start reporting these YouTubers on a large scale, because these YouTubers are one of the main reasons newbies still think cloud mining is profitable enough to invest in.

Most people search for cloud mining reviews and demonstrations on Google and then mostly end up on YouTube. YouTube was also a major factor with how paid shills there made BitConnect look like a solid investment.
2612  Economy / Service Discussion / Re: Cloud mining true or false? my experience on: September 25, 2018, 10:33:58 PM
I read more than 10 times the OP Post because I refuse to think that's what I'm thinking, I'll summarize what I thought:

OP has an account at blockchain.com and someone tells OP to create another account at blockchain.com and deposited ETH and give the login details for that person to configure the pool. Is this what I'm thinking happened? Because if it is, I wonder how OP that uses blockchain.com did not see that it is only a wallet and that there is nothing of mining?
You got it right. It may have been that the scammer was so convincing, that OP just took it for granted that there may have been an advanced user panel that allowed the scammer to unlock special mining features.

It's horrible that people are stupid enough to fall for this, and the worst thing is that this is a growing problem. Even if you're a complete noob in the crypto world, common sense should be enough to not fall for these silly scams.

You can read more about these scams here: https://blog.blockchain.com/2018/04/11/addressing-watch-only-scams/
2613  Economy / Speculation / Re: Topped out at another 0.618 Fib Retracement. on: September 25, 2018, 05:25:46 PM
This is just another ETF decline
I'm pretty sure that all the ETF speculation is no longer affecting the market, and if you think logically, the price is already at a point at which every possible negative event is calculated in.

Another thing is that when speculation around a certain event becomes predictable, which it has been recently, it won't work anymore because people will try to time it, and when that happens, say goodbye to price action.

I'm happy actually that this happened, especially with how the market has long enough been affected by the SEC, which is ridiculous. I hope they enjoyed playing the market, but it's over.
2614  Bitcoin / Press / Re: [2018-09-23] In Argentina, Investors Flock to Safe-Haven Bitcoin on: September 25, 2018, 12:08:01 PM
Yeah the only reason Argentina's financial crisis isn't making bigger news is because it's being overshadowed by the financial crisis in Venezuela...but the inflation in Argentina is getting to the point where they're basically a lighter version of Venezuela right now.
Argentina needs to turn into Venezuela 2.0 in order to become more news worthy. I haven't seen one bit of coverage on Argentina's financial problems locally, but almost daily plenty of Venezuela and its refugees.

You really have to dig into everything yourself if you want to know what's going on in the world, because news outlets only show you what they think is relevant for their income, which is somewhat retarded but also understandable.

It's a business and as long as that is the case, we'll have to accept that these things happen. I'm glad that everything is just a couple of clicks away on the internet, so we don't depend on them to feed us news.
2615  Economy / Speculation / Re: Save the date! May 2020 - Bitcoin price will explode ? on: September 24, 2018, 11:10:54 PM
And even if it does, bitcoin might never go back to 20k$,let alone 100,000$ and I million. Because the global economy won't be able to survive a currency that is so volatile,and is widely spent, other currencies or even economies might collapse to it.
Bitcoin won't remain volatile for ever if it actually becomes a widely used medium of exchange and store of value. I can totally see a point at which Bitcoin will end up following gold in terms if stability.

I don't think we'll ever be able to expect anything more than that. Bitcoin currently is too speculative, too small, too thinly supported with liquidity, and so forth. All factors contributing to insane levels of volatility.

Once all these factors are dealt with, which might take 5-10 years, we'll be looking at a whole different asset. Some people might not think Bitcoin is capable of reaching that state, but that's their problem.

It requires an open mind to allow potential scenarios to develop. Saying no to everything is a guaranteed way to not book any progress in life.
2616  Bitcoin / Bitcoin Discussion / Re: MT-Gox CASE on: September 24, 2018, 03:06:17 PM
If so, then you're not going to get any news until it actually takes place.
I wonder how this will impact the market, because in every possible scenario it's more than likely that a very large number of coins will flow back into circulation, and that while there is very little demand right now already.

Without being selfish and looking at its potential impact on the market, I sincerely hope that all the coins will be given back to the people, because it's their money at the end of the day.

I still cringe when thinking about how one fatty pig has inflicted so much damage on people financially and mentally. He deserves to rot in jail for ever, but unfortunately he's still being the free jerk he always was.
2617  Economy / Speculation / Re: Save the date! May 2020 - Bitcoin price will explode ? on: September 24, 2018, 01:24:05 PM
Let's pretend the price explodes on the date you think it will, you sell and then what? You have wasted so much time waiting for something just to lock in some profits. Try to see why Bitcoin is useful and use it.

Bitcoin's biggest gift to the world is that we have a way to hedge failing governments and the financial system. Don't always focus on fiat gains, but try to increase your BTC stack instead.

It's not for nothing that BitMEX has gained a tremendous amount of popularity. People can bet on Bitcoin and altcoins while using BTC to settle all trades, meaning, you'll get your profits paid out in Bitcoin as well.
2618  Economy / Trading Discussion / Re: Descending Triangle or Falling Wedge? on: September 24, 2018, 12:04:18 PM
Bitcoin is useless to analyze.
All forecasts are correct only in the past.
That's certainly true, but the only thing traders can do is to increase the odds of their trades being potentially profitable by analyzing the data that's presented to them in the here and now.

It's safe to say that while technical analysis isn't going to help you consistently during your trading journey, it's still much better than blindly opening and closing positions from where you solely depend on hope.

It grants you better odds to some degree, but that's directly it. The majority of the analysis I have seen pop up here from people thinking to know what they are talking about have been wrong 9 out of 10 times.
2619  Economy / Trading Discussion / Re: Fighting your own FOMO on: September 24, 2018, 11:35:41 AM
I completely got rid of fomo by simply dollar cost averaging my entry points. If the price happens to go up, I'm automatically in the winning position. It's a simple yet very effective way to prepare for what has to come.

People getting triggered by fomo haven't bought in, and for that reason will always be subject to that specific aspect of the market. There is nothing that you can do against it other than making sure you're in before a rally starts.

If you think a certain coin has the potential to grow out to become a fundamental pillar of the crypto industry, keep buying whenever you have free to invest capital. That's what Warren Buffett does as well.
2620  Economy / Service Discussion / Re: Coins.ph Suspended Accounts? on: September 24, 2018, 09:51:56 AM
As I understand, online betting in Philippines become illegal only in 2018. But you used online gambling websites in 2015, when it still wasn't against the laws. So, why did their banned your if you received BTC from betting platform before release of law? And they even didn't gave chance to withdraw money before closure of account? It's unfair!
It's definitely unfair, but the problem is that authorities are so strict on their policies, that some exchanges go straight into paranoid mode and 'eliminate' what they think is a risk for them personally as business.

Coinbase has been making some headlines about the same subject as well not that long ago. Out of nothing people were literally forced to leave that exchange, but at least they were given the option to withdraw their funds.

I think overall, people have to be prepared for centralized exchanges and services to do something that might and likely will work against you. They poop their pants as soon as regulators come up with new policies.
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