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2661  Bitcoin / Press / Re: [2018-12-02]Crypto Custody? State Street Is Waiting on a Client Shift, Exec Says on: December 07, 2018, 11:46:06 PM
State Street, one the largest institutional custodians on the planet, said there is no sense of urgency – at the moment, at least – from clients for the firm to move into safeguarding crypto assets. Speaking at the American Banker BlockFS conference in New York on Thursday, Jay Biancamano, State Street’s managing director for digital product development and innovation, acknowledged there is “a high level of interest”, however.
https://www.coindesk.com/crypto-custody-state-street-is-waiting-on-a-client-shift-exec-says

I think that for individuals that are holding bitcoin, custodial services simply don't make any sense. Even for long term institutional investors, it is much better to hold the private key to the bitcoins instead of trusting someone to safeguard it.

Obviously, though, they are targeting the institutional investors who need to trade bitcoin and derivatives on the short term.

In that case, I don't really see any reason for there to be any demand yet, given that the bear market is still going and that institutions are only looking into bitcoin and taking it as a serious investment possibility over the last year or so. In the future, there could definitely be more demand for these services.
2662  Economy / Scam Accusations / Re: KeepStake - SCAM ! Fake Myetherwallet site to steal your privatekeys ! on: December 07, 2018, 11:15:11 PM
What happened: Got an email from KeepStake claiming that I need to "Verify Ownership" of my ETH address to start getting their tokens/dividens. The link in email led to https://keepstake.io/ownership-verification/, which then leds to https://msg.mỵethėrwạllet.com/sign-message.html , which is clearly a fake one, as you can see that the main domain of theirs is not even configured https://mỵethėrwạllet.com/ (the e is ė)   

Scammers Profile Link: None

Reference Link: Another thread about Keepstake https://bitcointalk.org/index.php?topic=5074500.0

Amount Scammed: Not Known

Payment Method: ETH

Proof of Payment: NONE

PM/Chat Logs:None

Additional Notes: Please be cautious about those "ownership verifications" sites

Yep. It seems blatant enough that their entire site is made to lure people into visiting this phishing site, and hand over their private keys unsuspectingly. It essentially also renders their entire project a scam.

These types of phishing sites, especially for MEW is actually quite common. I've probably seen at least 10 of these scattered around different scam accusation threads.

Whenever you are told by a site that you do not fully trust, or don't know of to go to an external financial site, make sure you verify that the site you are visiting is legitimate, and not an impersonator. Especially when the site you're told to go to is asking for private keys, passwords, etc. Never hand it over.
2663  Economy / Economics / Re: Transactional Utility. What it is and why it counts on: December 07, 2018, 11:09:56 PM
As they say, everything counts in large amounts

But before I proceed, I want to make it clear from the beginning that I fully embrace and endorse the tenets and notions of the subjective theory of value which basically claims that there is no intrinsic or inherent value in anything as all value comes from utility, i.e. a capacity of being useful for satisfying certain needs or attaining certain ends. The amount of this capacity obviously depends on how we use or think we can use something to our advantage. In simple terms, all value exists purely subjectively in our heads and comes about through our assessment of something and its usefulness to us (so-called marginal utility)

With that said, this notion of all value being entirely subjective is often sort of overkill for most practical intents and purposes, and we can safely go along with an assumption that there is a certain intrinsic value in things. In case of money, conceptually, it is transactional utility which can be defined as a capacity for transferring value, conveniently and reliably. In essence, this is what makes money into money. From this point of view, Bitcoin can do the job pretty damn well as it is state-agnostic and trustless. Given the nascent technologies like Lightning Network, Bitcoin has a lot of potential and plenty of space for gaining more transactional utility just around the corner

They also say that Bitcoin is a survivor and this post explains why exactly. No matter how low the price can go and for how long, it won't lose its capacity for transferring value, i.e. its transactional utility, as it is built in and will remain there unless Bitcoin is destroyed completely or its network compromised beyond repair. Ultimately, it doesn't depend on market price and speculation as it is rather a matter of how fast, cheap and reliable you can transact with Bitcoin. All in all, its price has little to do or interfere with this capacity. That's the reason why Bitcoin is here to stay and why it may in fact be a good day to buy hard these days

Feel free to share your opinion below if you have any comments, ideas, maybe even a few satoshis of criticism (in a constructive and helpful way)

You're absolutely right.

There is a reason why we hold bitcoin. It's not just because we expect the prices to go up because others will buy it. While that is true, but that is because we think that more people in the future will appreciate this transactional utility of BTC and adopt its technology, pushing demand up.

And as you said, this utility doesn't just dissipate when prices drop like it is right now. Bitcoin performs the same functions now as it did in the bull market last year, there is no difference. And it will continue to have transactional utility in the future. That, combined with the trust that people has got in bitcoin in its decentralisation and legitimacy due to a decade of track record, and it being the first cryptocoin, is what gives BTC its "intrinsic value" (if there is such thing in the world).
2664  Economy / Scam Accusations / Re: Ramcoin mining - SCAM - FAKE TEAM on: December 07, 2018, 11:01:10 PM
If you take a look at their home page you will quickly find that this is pretty much nothing special as a project. The idea of a scrypt algorithm based coin has been repeated hundreds of times already, this is just another incarnation of the same thing. They even say it themselves:

Quote
Scrypt as a proof-of-work algorithm | The rest is the same as Bitcoin.

We didn't ask for any money

Even if you didn't ask for money, it's unprofessional and untruthful to just fabricate a team, isn't it? You could say that you didn't mean to, but the truth is that you got all the names and titles for your supposed "team members" ready as well.

Also, it's foreseeable that establishing fake trust would still yield you money, as you will likely be selling off any premined/early mined coins from your project to make profits.

Besides, you still haven't removed anything from your site.
2665  Economy / Economics / Re: Taxes from the crypto industry will go to combat pollution. on: December 07, 2018, 10:57:48 PM
Every day our planet becomes more and more polluted by human activity. And what if the advanced blockchein technology is focused on pollution control. All governments and international financial institutions that are willing to accept cryptocurrency will tax all cryptoexchanges, ICO projects, and other areas that use cryptography. These taxes are used with blockhein in projects to clean and protect the environment. Share ideas. How can this be done?

It's not really up to the crypto industry, or exchanges to enforce this though.

Most regulated crypto businesses already do pay tax, whether it is income tax, or corporate tax. But combating certain problems in the economy or the environment isn't as simple as paying taxes. Who is actually going to take the money, and spend it responsibly?

That's where the government's role come in, and unfortunately, there is absolutely no guarantee that taxes collected by the crypto industry is going to combating pollution, building new schools, or whatnot, especially in third world, corrupt countries. That's just the reality, unfortunately.
2666  Economy / Speculation / Re: To newbies: why BTC is different and you must expect the price to rise again on: December 07, 2018, 10:47:51 PM
So with the bubble burst there are of course tons of people crying about the death of btc and why it's going to 0 and your either out NOW or you've lost it all.

It was a bubble. No doubt about it. And quite frankly lots of people here warned new investors about it. You don't go +500% in a couple of months without a good reason.

But it doesn't matter, on the long run BTC will always be better and more solid than fiat. You're a newbie who entered at 10k$ and are shaking about the price going down and down again? Here, let an old bitcoiner explain you why you don't have to worry:


1/ Contrary to what tons of people say, BTC has an actual value and an actual use. Transfering money to anyone anywhere anonymously. Of course there are all the illegal trades like drugs or firearms but don't forget all the perfectly legal people who want to pay for something or send money far away, well if you go with wire transfer expect a 5 to 15% fee. Or use BTC.

2/ More than 80% of btc has already been mined!!! It means contrary to $, there can't be deflation by too much money printing. If tomorrow all the futur BTC to be mined was created, price would mechanically go down by 20% and that's all. To give you an example, 7 billions dollars are printed every year... You think it's safer to own $ that can be printed without any control or logic at any time by any government in need of cash? Think again.

3/ A useless bubble only appear once. When someone gives you the example of Tulipes or Massachussets company as bubble that went +20520125% then down to 0, tell them such assets go to zero then disappear. Btc already had a bubble, it exploded, then went back up. Because it's useful.

4/ Every 4 years the rythm of BTC printing is halved. The "halving" makes the reward of miners divided by 2 so that means less and less btc comes in the market. It means less adoption is needed to make the price up.

In short, remember that BTC is useful and that the worst has already happened! So keep your btc guys Wink

I absolutely agree with all of the statements that OP made in his post.

There is no denying the fact that the markets were overhyped, and BTC was overvalued in proportion to the long term prices that it should be at last year. That's why we are experiencing this bear market as correction from that high.

There is honestly no reason to panic. The fundamentals and utility of bitcoin has not changed, and I still believe in the potential of bitcoin given the fact that it is the first, and most trusted and decentralised cryptocurrency which is able to provide users a store of value for the long term (not necessarily the short term), and facilitate instant transfer of wealth worldwide.

That imo will bring adoption and thus demand in the future, which will push prices up in the long run. That's why I'm buying this bear market, and not panic dumping like a lot of others.
2667  Economy / Service Discussion / Re: Is webmoney secure? on: December 07, 2018, 10:36:25 PM
Hello people.

I know PP is a bit the shit when it comes to crypto.

Is Webmoney better or it's the same "whatever you do or say client is right" shit?

From my experience, if you are talking about crypto related transaction, Webmoney is generally more accepted than Paypal as a form of payment.

The reason behind that is the fact that Webmoney is irreversible in most cases, compared to the constant chargebacks that are dealt by paypal users. I've used them in the past, and it seems like that they are fairly secure with 2FA and all that enforced onto users.

But, there is still a risk that they may freeze your funds for no reason, or suspend your account. In that case there is very little recourse available due to the fact that they are located overseas, but I don't think I've heard any cases of that happening yet.
2668  Economy / Speculation / Re: miss out on bitcoin past low price? it's fine, if you miss out now you to blame on: December 06, 2018, 07:13:26 AM
 Don't get me wrong am not a fortune teller nor am I a future predictor. Am just an investor that believes in long term investment. I did get to miss out on the suppose glory days of bitcoin using last year as example when the price started the year at around $700 and by November reach a height of $20,000 I am not blaming my self or am I regretting it

  A lot of factors prevented me from investing as at that time and I don't believe that there is a wrong time to invest except possibly when the price reaches above $50,000.
    the price of late are dropping are again at the close of the year 2018 and this is causing panic amongst investors and possible future investors critics has even predicted the drop trend to go on for a while and bitcoin will not recover soon.

    But I see this situation as an opportunity to purchase extra bitcoin. Business is all about calculated risk you don't just move with news alone the could be sponsored shilling or FUD bitcoin is over nine years now and has created a good level of establishment.

If you had missed out on bitcoin previously it's fine.  If you miss out now then blame yourself

I think that your analysis is pretty much spot on.

Prices are extremely low in the BTC markets at the moment, yet it seems like that institutional interest is not waning. As a result, I believe that there is a real long term accumulation opportunity, if you do believe in bitcoin's adoption going up in the future which I believe is highly likely.

It's however completely possible, if not likely that prices in the short term continues to dip and drop below support levels, as investor sentiment right now is still negative overall. If you do decide to accumulate right now, make sure that you are able to be comfortably be holding BTC for at least another few years. Don't view this as short term gains, but rather an entry point that is sufficiently low in the long term scheme of things that it is worth buying up on.
2669  Economy / Service Discussion / Re: bitgoldenfx.com - Legit or scam ? on: December 05, 2018, 08:14:21 PM
I was searching on google and came against this website- https://bitgoldenfx.com/page/home. This is a social trading platform which includes cryptocurrencies, stocks, commodities, ETFs and more to invest in. Has anyone encountered with this platform? I want to know if this is a legit platform or not.

So whoever used this, could please advice me and let the community know how legit this website is  Smiley

As others said, there are virtually no reviews that are available of this company.

Even though they state that they are 'professional' and 'regulated' on their front page, you simply cannot take their word for it. As for as we know, they are operating in Cyprus, which if you are not in that country, even if they are regulated, it is difficult to get ahold of them if they an issue do arises.

There are tons of other FX options, ETF trading sites out there that are more legit than this one. Although I'm not saying that this is a scam for sure, I believe that there is a high likelihood that it is given their generic website design and lack of reviews and proof that they hold a physical office, and that it's simply not worth it to even attempt to use them.
2670  Bitcoin / Press / Re: [2018-12-01] Bitcoin Price Nearing ‘Capitulation Moment’: IG Market Analyst on: December 05, 2018, 07:57:41 PM
Bitcoin is not far from a critical loss of investor confidence that will lead to the market hemorrhaging vast amounts of value as nervous investors dump their holdings.

This is the opinion of Chris Beauchamp, an analyst at the online trading platform IG. Speaking to the Financial Times, Beauchamp stated that the crypto market leader is heading for a “capitulation moment” when a critical mass of investors begin bailing out of the market, fueling a vicious cycle of price falls and further selloffs.

Unhappy Long Term Holders?
CCN recently reported that Genesis Trading CEO Michael Moro stated that the bitcoin price is likely headed for a $3,000 support level after breaking $4,000 last week. This, he said, was caused by a selloff among older bitcoin holders who bought in before the 2017 bull run. According to him, in the aftermath of the destructive Bitcoin Cash community split which had a negative impact on the bitcoin price, they started selling their holdings either to realize gains or cut their losses in case the market dips further.


CCN | https://www.ccn.com/bitcoin-price-nearing-capitulation-moment-ig-market-analyst/

I agree with the article in saying that bitcoin is nearing the capitulation phase, if not already in the "despair" phase.



One of the most accurate indicators in my opinion for this, is the fact that mainstream media isn't showing interest in positive bitcoin coverage anymore. The articles that are coming out right now targeting mainstream readers are all saying that bitcoin is a scam, bitcoin is a ponzi, bitcoin is dead, etc. which is indicative of how bearish the sentiment is right now and the extraordinary amount of fear in the market.

And based off the amount of time previous bear market lasted, that's why I believe we're nearing the floor for this bear market. Potentially prices could go down further, but not much further imho. Accumulation is what the smart money is doing right now.
2671  Economy / Speculation / Re: Walll Street dumping to buy cheap on: December 05, 2018, 07:49:26 PM
https://www.youtube.com/watch?v=KcgA-hMAozI

Nice vid that explains the obvious but what most newbies don't seem to be realizing: The same people that are saying "bitcoin is dead", "bitcoin is a scam", "bitcoin is a ponzi" and whatnot, are buying when you are sleeping after you panic sell. And this doesn't count all the OTC volume we don't know. The lower the price is the higher OTC volume must be as these big entities keep buying. They KNOW they cannot kill BTC, only become bigger players than the rest, so the plan is obvious: Demoralization to trigger panic selling of everyone, then buy the cheap coins off you.

Exactly. It seems as if institutions are still coming into a market, perhaps at an accelerated pace even, despite this bear market.

This is what people don't understand. Bitcoin's price is seriously cheap right now due to the bearish sentiment within the market and the fact that everyone is panic dumping, that it has become a great buying opportunity.

While it is unclear whether or not actual manipulation of the market is taking place in terms of these same investors spreading negative articles about bitcoin, it is clear that there is institutional demand for bitcoin as an investment vehicle. Even though I wouldn't say that constitutes as actual adoption, it would still be able to push prices up quite a bit in the next bull market.
2672  Economy / Exchanges / Re: Beware of the Bitmart KYC trap on: December 05, 2018, 07:29:52 PM
Quote
However, when you have exchanged your crypto and you want to withdraw it, then the ask you to identify yourself! If you do not participate in their KYC, they do not allow you to withdraw it! So you either participate in their KYC, or your crypto remains trapped...

They claim that their:
"KYC regulations are intended to ensure that exchange platforms are aware of the identities of their customers to ensure that unauthorized individuals (such as minors or criminals) don’t have access to certain services. That means without knowing customers' identity, there is no way to proof the source of fund is legitimate or not."

The problems with the way they implement KYC are the following:
1) Bitmart is giving all their customers access to their services without previously enforcing KYC. They only go into enforcing KYC when their customers have already had access to the services they provide.
2) They have already collected fees from the use of the exchanges before enforcing KYC. So they have already worked with and have been in business with potential "unauthorized individuals (such as minors or criminals)" as they call their customers, before asking them to participate in their KYC process. This means that they are already collaborators of potential "unauthorized individuals (such as minors or criminals)", before they try to enforce KYC.
3) The way that they implement KYC leads to most users being surprised by the fact that KYC is required in order to withdraw their crypto. So it is a kind of entrapment.
4) There is also the issue of them not setting different withdrawal limits, with different identification levels, as most exchanges do. Asking for KYC in order to be able to withdraw half an ETH is insane.
5) As I value my privacy very much and I do not wish to participate in their KYC, I also suggested that they manually return my ETH to my MEW wallet and then close my Bitmart account after that. They never responded to this request either...

To make a long story short. I am not sure if Bitmart are just trying to entrap their customers, or if they do not have the ability to understand how wrong the way is they are trying to implement KYC.

It's definitely the wrong way to implement any form of KYC policy, in my opinion.

If you are trying to get customer identification for legal purposes, then state so while they sign up or before they deposit like what poloniex does (and poloniex is a terrible exchange). It's simply unfair to not give the user sufficient notice about KYC and do so after they have deposited, and wanting to withdraw.

That's no different from holding user funds without their consent, in my opinion. It could be even possible that Bitmart and other exchanges are using this as a tactic to do exactly that.

But it's honestly a very prevalent issue in all exchanges. Not just Bitmart, but even exchangers that previously claimed that they were "anonymous" such as changenow has held customer funds on the grounds of KYC, which imo is just pure selective exploitation.
2673  Economy / Service Discussion / Re: CryptominingFarm.io is SCAM DEFINITLY on: December 05, 2018, 07:23:39 PM
CryptominingFarm.io no longer pays.
40 days retaining my BTC funds.
Your customer service does not respond to user complaints.
For that reason today I have started a lawsuit according to the terms and conditions of the site:

"Any dispute, controversy or claim arising out of or related to this contract or the breach, termination or invalidity thereof, shall be referred to and finally resolved by arbitration in accordance with the Arbitration Rules of the Thailand Arbitration Center in force at the time, and shall be under the administration of THAC Thailand Arbitration Center. "

There I started an arbitration in www.talkDD.com where there are already many complaints of users and is not responsible for the site. Apart from that I have started a lawsuit in the Administrative Court of Chian Mai (Thailand) both to CryptominingFarm and LifeTime Technologies which is the mother company of this SCAM.

As you have news about this demand I will continue uploading information.

They will learn to stop cheating people. Anyone who wants to join the demand can go to the TalkDD page and start there, then if they want to join a joint demand they can write me here and inform them how to continue.

regards

It's another one of the cloud mining sites which are simply not mining, it seems.

Definitely not a rare occurcence whatsoever. In fact, most of these no name cloud mining sites that aren't officially partnered with any big mining rig manufacturers or pools are most likely running a ponzi, even if they are paying right now.

Just go to their profit calculator and see the absurd payouts that are being promised. They are also offering free hashrate for new signups, which is a warning sign since legitimate businesses simply cannot afford to do this, if they are planning to pay out the profits. I honestly think that the chances of you resolving this withdrawal issue is slim, even if you go through the legal channel.
2674  Economy / Scam Accusations / Re: Tawagar Exchange - SCAM - Blatant Plagiarism on: December 04, 2018, 12:15:29 AM
Jeez, they really put a lot of effort into building plagiarising their entire project and site.

They're not only a scam exchange, but also a scam project trying to raise funds, it seems. Essentially, a site with likely scams both the investors and users of their exchange (that is, if it ever gets launched). The poorly designed site, the fact that they have no team, and no proof of registration of their company and even their location should have been a dead giveaway.

This is why you always research projects thoroughly before investing, because there are just so many plagiarised whitepapers and fabricated teams out there.

Deex seems to be owned by the same person, or at least affiliated with Tawagar, which is confirmed to be a scam. Do not invest in that. Good job OP on archiving the ANN thread before they edited it.
2675  Bitcoin / Press / Re: [2018-12-03] Brad Garlinghouse, Ripple’s CEO, Predicts Banks to Become Crypto Cu on: December 04, 2018, 12:09:32 AM
I agree. Some people think that cryptocurrency would completely get rid of banks, but I think that once bitcoin other cryptocurrencies go mainstream, they will actually be integrated into the banking system.

Traditional investment instruments that banks offer would simply be redenominated in bitcoin or whatnot. They may offer loans in BTC, deposits in BTC, or even use bitcoin as an asset that they hold in reserves in the future.

We're still quite far away from this phase though, but institutions are already catching up.

Though, I feel like in the future decentralised cryptos will be embraced by the community more than the centralised counterparts, which I feel like is the opposite of what Garlinghouse is trying to push.
2676  Economy / Scam Accusations / Re: Scammer need red trust tiamilos90 on: December 03, 2018, 10:11:20 PM
What happened: This guy "selling" phones but once you send him money he block you off telegram Cheesy

Scammers Profile Link: https://bitcointalk.org/index.php?action=profile;u=2405455
Reference Link: https://bitcointalk.org/index.php?topic=5063951.0
Amount Scammed: 29$
Payment Method: BTC
Proof of Payment: https://www.blockchain.com/btc/tx/c9edf27c553744036c4afb614a720f49d86c60403c5e8931af39f0d9608599ab
PM/Chat Logs:
http://prntscr.com/lmwdk0
http://prntscr.com/lmwdq7


Additional Notes: On their bitcointalk.org thread you can find their telegram group (freeaccountsforall) -> https://bitcointalk.org/index.php?topic=5063951.0
On this telegram group you can see they selling phones ->
http://prntscr.com/lmwe0s
http://prntscr.com/lmwe3o

Proof that's the guy who stole 29$ and blocked me off telegram Cheesy -> http://prntscr.com/lmweat

Well he choose to lose his account for 29$... Stupid scammers...

Whenever you buy something without escrow protection you are taking on a huge risk.

Especially with discounted goods like this, you are likely to encounter scammers who will try to get you to send money to them first in an irreversible payment method (BTC) and then just leaving.

Usually, you can tell with the amount of discount that is offered by the seller. If they are selling for way too cheap, usually it's an indicator that either the goods/services they are selling is fraudulent, or that they are attempting to scam you. In the future, stick with escrow whenever purchasing goods on this forum.

Still waiting this scammer to be tagged.
What is going on guys ? All the proofs are above ?
Don't let this 3rd worlder scam more people.

DT2 isn't always instant. Be patient.
2677  Economy / Speculation / Re: Guys calm down and relax. Its going to be fine. on: December 03, 2018, 08:08:31 PM
I just want to say a few things about what i see happening.
I have been a trader a holder a price watcher for 5+ years.  Bitcoin is not dying it is not going to zero etc etc. This isnt even a retail shake out. This is a game of chicken between the whales and large traders on the exchanges. My one btc sell or yours doesnt matter. Just like on the nyse. My 10 share sell of walmart is norhing. Bitcoin is a confidence game. Its a game that tests your psychological fortitude. Traders want your money(coins) and will do anything to pry it away from you. Btc is all about rumors and fud because that is the only thing that stimulates buying and selling. There are no earnings reports or sales figures to base price on like stocks. It is a pure psychology and emotional driven machine. You have to take emotions out of it people. Does it suck that we are going down? Hell yes but if you sit back and read between the lines there is an obvious reason for this dump. No one in the media or no one big heavy hitter in btc will come out and say it but whales are taking the price low on purpose. Its not one person selling 1000 coins each day and exiting. Smart money would put in a limit price and let it be filled not market sell and lose thousands of $$$ on every trade.

The bottom line is if there are no sellers of coins and the whales are runn8ng low on supply they drop the price to get sellers. They cant raise it looking for people to cash out because they hodl even more during a pump.

Bitcoin is getting so spread out amoungst hodlers and users in the world that its getting harder and harder to find coins.
So with that said. You have baakt opening in about 2 months and fidelity on the horizon. Think about it if you were a whale and had 2 months to stock up on something that is going to fly off the shelves you would do whatever you had to do to fills your bags and when the doors open make bank big time.

Guys do you realize how deeply ingrained crypto is? The Nyse is going to be selling bitcoin!!! They probably did years of research crossing their t's and dotting their i's on this jump. There is no going back. Same with the futures and etf etc. Mahor major financial institutions are putting their reputations on the line fir crypto. Its not going to fail.

Nothing has changed there is no bad news. Bch fork is a smokescreen. Prepare yourselves for next year and look at this as a buying op. Be greedy. I hope this helps calm some nerves. We are all going to be fine.

Buying opportunity for sure.

I'm not sure why all of a sudden people are turning and saying that bitcoin's future is now no more, and stuff like that. It's just absurd how market sentiment is able to affect people's long term perspective of something.

To me, nothing has changed. The technology remains the same, and if anything, within this bear market we saw even more adoption, especially institutions.

With prices this low, I don't think that there is much further to go in terms of dips until the bottom is found. And even though the recovery might still be far away at this point, I believe that accumulating right now if you're a long term investor is worth it.
2678  Bitcoin / Bitcoin Discussion / Re: Money Laundering started with banks not bitcoins. on: November 30, 2018, 11:34:23 PM
The people in Banking industry have long associated Bitcoins with money laundering, from calling it a bubble to linking it to terrorists money they did everything in their power to destroy bitcoins. Today it's been proved that money laundering happens due to banks, was happening before bitcoins came. Deutsche Bank has been raided for money laundering, and it's pertinent to note bankers from this bank had said bitcoins is used for money laundering. It proves that fiat money is and always will be used for money laundering, it's time to stop the witch hunt against bitcoins. #ItrustBitcoinsoverBank.

Link: https://www.newsbtc.com/2018/11/29/bitcoin-is-criminal-money-says-the-media-while-deutsche-bank-gets-raided-for-laundering/

I think that money laundering, and other criminal activities, simply can't be attributed to the currency that it is conducted on.

It's almost like blaming the US dollar, because it facilitates criminal activities. Obviously, that's true, but in no way is it the currency's fault that this is happening. Money laundering will happen regardless of what payment processor or mechanism is in place, and that's just the truth.

Thus, it's not fair to attribute money laundering to bitcoin. In fact, there are so many stringent regulations now surrounding bitcoin exchanges etc., yet people still talk about bitcoin being an underworld currency for some reason. It's an image that the media has painted, and is simply not true.
2679  Economy / Speculation / Re: When are you buying? on: November 30, 2018, 11:20:44 PM
So at what price are you or have you been loading up on Bitcoin?

I don't have much money now, I'm planning on buying a ton of Bitcoin in late January when I get a bunch of money from the sale of the startup I work at (hoping price is still at least below $6k!!), but today I decided if this thing hits $3800 I'm picking up half a bitcoin, and if it drops significantly below that I'll try to pick up maybe as much as another half a bitcoin. For anyone with plenty of money on the side right now I hope you all are feasting on all this panic selling! This is how you get rich! Too bad I have $8k on exchanges that I bought up coins with a few months ago, I'd pick up 2 Bitcoin right now if I had that in fiat Sad

I do think that if you are investing in bitcoin for the long run, i.e. not looking to trade short term movements, but rather betting on bitcoin's adoption rate to continue to go up and its utility as an asset increases, then I honestly think that dollar cost averaging makes the most sense.

Because you're not going to be perfectly timing the bottom, and in a bear market like this it's impossible to tell where exactly the floor is and when the final rebound is coming.

Buying in regular intervals makes the most sense, instead of trying to predict the bottom. Even if prices drop, your entry price will be evened out essentially by your newly bought positions at lower prices, which is great if you are speculating in the long term. That's the primary strategy I'm going with at the moment.
2680  Bitcoin / Press / Re: [2018-11-26] Bitcoin ETF ‘Definitely Possible,’ SEC Commissioner Confirms on: November 30, 2018, 11:09:05 PM
The most notably pro-bitcoin SEC commissioner, Hester Peirce, appeared on the ‘What Bitcoin Did’ podcast at the weekend. Whilst unwilling to describe a future Bitcoin ETF as inevitable, she did confirm it was definitely possible.
Peirce first won the hearts of the crypto-community with her ‘statement of dissent’, following yet another denied Winklevoss ETF application.
https://bitcoinist.com/sec-peirce-bitcoin-etf-possible/

All that she is saying is that such ETF is possible.

I still find it hard to believe that it would be approved any time soon, to be honest. And it's obviously not up to her alone to decide whether or not a bitcoin ETF is able to be released into the market.

Personally, I couldn't care less about an ETF approval, because honestly it won't affect any actual bitcoin users in a positive way. It's going to be targeting institutional investors who have large sums of money that they want to trade with, potentially even leading to manipulation. But as to on-chain activity, there won't be any effects resulting from ETFs, even if they were approved.
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