So my plan is to get started without a license and apply for it asap. It looks like starting a crypto business is not for everyone. At least not anymore.
That's what Binance has been doing for quite some time now. Dig in, take over, apply for a license, get the heck out in case it's not granted to you. It worked well for them, but I wonder how long they can continue doing this, especially with how regulators start to become more motivated than ever before to finally do what they are supposed to do. I'm looking for legal solutions of course.
There aren't any in your situation, and you seem to be aware of it with how you plan to start without a license anyway. I don't recommend anyone to replicate this because you don't know how regulators are going to respond to you. Some might just order you to shut down, where others will fine you on top of it because you violated their laws. Don't try them.
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I don't see strong support at any lever to be honest but some have been saying prices will be jumping above $4000 and say this is upward pressure. Anyway, I don't thinnk it's a great period to earn. Sell of what you can at profit if you bought lower, I would say.
Of course there is no strong support at any level, people expect it to go lower so they hold most of their fiat to buy at these lower levels. I remember back in 2015 that people were similarly skeptical about the market, especially with how the price after the ~$150 bottom just wouldn't break through $300 for quite a long period of time. I don't expect people to go nuts on the price until they strongly believe the bottom is in, and that's when we're due for some form of a fomo run. It makes zero sense to sell now, so don't do it, even if you're still in the green at current levels. If you didn't sell above $6000 then definitely don't sell right now.
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If we keep holding there is no way bitcoin will keep falling.
Easier said than done for most people. As long as the price goes up or remains relatively stable people have tons of confidence, but as soon as the price starts dropping they snap. It means they are gambling, have invested more money than they should have invested, or they invested with borrowed money. These are flyby "investors" who don't contribute to anything, let them exit. The big buyers and bank wish we should keep selling so their can control the market. I think we should not feed the whales but nature bitcoin until it grows to the level we wish it should be.
You'll likely feed the whales anyway, whether you're losing or making money, so there isn't much difference here. Let's be honest, most people are here to make profit and to sell at some point. You even pointed it out yourself by stating that it's better to hold out till the price reaches a level you're happy selling at. Whales are everywhere, you can't avoid them. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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Look for those new entrants, old ones probably have longstanding deals they aren't likely to disband. Trust in this business not easily gained.
It depends on how competitive OP can be, because miners only care about the money, which we have clearly seen in the last couple of weeks. In no shape or form did miners bother to look at the economical damage they may have inflicted by allowing nChain and CoinGeek rent their hashrate, which potentially could have been used to 51% attack the ABC chain. Offer them a better deal and miners will come to you, that's how it works when money talks.
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I don't blame merchants and exchanges for not yet looking into LN, because there isn't much to gain yet, especially with how the main-net is doing a pretty decent job keeping the fees low.
I expect Schnorr to free up even more block space, and I expect this upgrade to be taking over rapidly with how beneficial it is to any sort of service receiving tons and tons of smaller inputs from users/customers. It would even say that I consider Schnorr to be one of the best on-chain upgrades to the network ever, especially with how its impact will be felt immediately.
Innovation right there. No bullshit gimmick features, just what you really need and benefit from.
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This is what I hate in the bitcoin network, I did help someone buy bitcoin yesterday from a local vendor, even though the transaction was okay, it was over delayed and the buyer loss control over the trade. Something must be done to making faster, otherwise, in the coming days, this is going to pose problem.
It sounds more like the person you helped buying Bitcoin wasn't well informed, which was your job to begin with if you acted as a guide. Don't blame Bitcoin's network for that. If it concerns a trade (which generally is considered a priority transaction), include an above average fee to make sure it's almost "guaranteed" to be put in the next block. I do so too and it works like a charm. 9 out of 10 transactions that I send are included in the next block. Something must be done to inform people on how to use a decentralized ledger, because it works perfect for me.
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I like these forms of speculation, because it's just that, speculation. We can see the movements, but only guess who they belong to, and what the intentions are. That's the true power of Bitcoin. It seems that the coins have been transferred to Segwit addresses for the sole reason of enjoying lower fees, because moving coins back and forth that often is quite a costly practice. It's probably an exchange or OTC desk creating smaller blocks of coins to be sold. What if this turns out to be Bakkt setting up their shit? Bakkt won't wait till the last moment to accumulate coins, they do it well before they actually launch, and the market is well positioned at current levels to allow further accumulation at lower levels. No shortage of theories. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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Even if I were a newcomer to the scene, not knowing anything about cryptocurrencies, and saw the all time charts, I wouldn't dare to predict a 10k BTC next month. We are in a bear market going lower and lower, even if it bounces back it will have a hard time going over 7k, the price it couldn't breach for months when we were much more positive than we are now.
That's a bit too easy. Most of the people who entered did it on the way up last year, or on the way down this year, and that without any experience with markets. Basic noob "understanding" is chart from high to low means it's a good buying opportunity, not knowing that crypto prices can tank far below that what people consider to be low already. I'm bullish, but some people like Mcafee, Lee, Novogratz, and a few others don't make sense.
It's actually a good thing. It shows that these hillbillies people think are experts aren't more expert than most of the countless noobs we have in the market here.
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but only a few are online around 8k
Doesn't matter since most people with an account are lurkers in the dark not wanting anyone to know they are actually browsing. r/ethereum has just 417k users which I expected to be way more, especially after the ICO boom. Interesting for sure. Too bad the r/btc page is in control of dirtbags. Not sure what the exact reason is that both pages haven't been created at the same time or owned by the same entities, but it's a shame. At least good to see that the right page is getting most of the growth. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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I know it's good to having decentralized but we have tules to be followed as a citizen of out nation. Whether we like it or not, it's the government who has the power to change what is the most convenient to their people.
Governments have the power because you gave it to them. I'm not at all against governments and every law, but in some cases you have to follow your own path instead of blindly following that what a bunch of people you never met think is good for you to follow. Bitcoin is a tool allowing you to choose for yourself, because nothing can be done against your wealth in Bitcoin. That's what I consider to be power. Wish more people appreciated this revolution more than their silly gains.
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Do you really think that their will be buyers. As per my guess even if Bitcoin price goes below $1000 , their will be huge selling and within minutes the bitcoin can even touch $10 also as 99% of them will try to sell it on any price.
It's quite fascinating to see how the price is messing with people's mood. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) Sellers aren't equipped with infinite ammo; this isn't some sort of a game where you can cheat to produce trillions of coins to keep selling. I'm pretty certain that most of the selling is over anyway, so whatever happens from this point, is very likely the last ever shakoff below $10,000 becomes a reasonable target in 2019. Buy support becomes stronger the lower we go, because sellers need to add more coins to end up with the same fiat amount they plan to cash out. At $1000 per coin I will dump 90% of what I hold in fiat in Bitcoin. I will also sell all redundant shit I own to buy Bitcoin.
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It's possible since anything could happen but that's too high to reach. I guess it will take time before we get there. A person who predicted such price seems invested a lot to have such trust. What's good for now is reading predictions like this makes me think seems the fall is over for now.
Similar predictions were up well before we started to tank below the $6000 level, which basically means that it's useless in the very short term. What's happening right now is that those who are here for the fundamentals are just as bullish as they were last year, while people only here for gains comfort themselves with "expert" predictions that we eventually will reach this or that level. It doesn't work like that. People have to figure why they are here, aside from the gains. If you don't understand what you're investing in, you are a gambler. Warren Buffett is spot on. Most people here are empty headed gamblers.
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I'm no longer trading at this point whether short or long, would just wait 2019 and see what it brings.
If we're going to see an even lower bottom, it will very likely be somewhere in Q1 of 2019 which I stated even before we dropped below the $6000 level, and that more than once. Look up the all time charts and look at Bitcoin's performance in Q1 of each year so far, it's nothing but sharp decreases; https://bitcoinwisdom.com/markets/bitstamp/btcusdIt's smart to start buying small fractions at current levels and leave some for the first couple months of 2019 to go long in a more serious manner. No one knows where the bottom is, so don't expect anyone here or whatever news outlet to be right on that. It could be in already, or we have another 20-30% to drop.
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BITMEX is good for daytrade, no good for swingtrade or longertrades.
Bitmex is perfectly suitable for longer term trades, especially if you don't force yourself to be active when you shouldn't be. Day trading is more like gambling, regardless of where you place your stop loss. It's just you speculating on a positive outcome and swallow the loss in case there is no positive outcome. Everyone can do that. It involves no skill at all. If you stick to lower leverage counts, you don't have to choke the crap out of your positions by placing tight stop losses. The crypto market organically bounces up and down 2-3-5%, which means that there is high probability that you lose more than you make if you work against the market. 2-3x leverage is quite high already, but still allow your trades stay up longer and let the market do its thing.
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Although we all know it is from a hacked account it is good to know that whoever it is, is simply telling us that there is light at the end of the tunnel. After this bear market is over there will be an exponential rise in crypto values.
What if I took over that account and wrote that I'll exploit a bug so severe, that the whole network will crash? What would that do with you? It wouldn't even surprise me if news outlets are doing this themselves, all to have something different to write about than usual price up or price down articles. It's something non crypto news outlets have been doing for years, so why wouldn't it be happening here as well? Contact me when someone (whoever it may be) signs from the genesis block. All other shit is, well, shit, nonsense.
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How can we trust this, really? His top is at 19,500, Bitstamp's top is at 19,666, Bitfinex's top is at 19,891. My question is, where is the bottom of this 85% correction? 2800? 2900? 2850? It all depends on what chart are you looking at. We don't even know if it will correct 85%. There's nothing significant in 85% that would make the price stop exactly at that point. We could as well go to 90 and 90 at Bitfinex would still be higher than 90 on Bitstamp We can't trust any of this. People talk crap all day long about bottoms and the bear market to last possibly years, but they are just guessing at the end of the day. In South Korea they were well past the western market and peaked somewhere between $23,000-$24,000 which people seem to discard completely. Most of the demand comes from the Asian market anyway, so we might very well be subject to their definition of what a bottom could be looking like.
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While the world states take a more wait and see attitude. Most likely, they still do not know what to do with it, since it is no secret that the state as a whole is not interested in circulation of cryptocurrency.
I don't think it's fair to expect governments to totally understand what crypto is about, especially because of how the far majority of the people here aren't even sure of what they are dealing with. If people "using" and trading crypto don't know what they are here for or what they pump their money in, how can we expect governments to know? In the end, it's an advantage that governments don't consider Bitcoin to be a currency, because the less their own currencies are at risk of being challenged, the less incentive there is for them to take action against Bitcoin.
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That time will come. Gold has very little utility in current times, yet a gigantic market cap. Bitcoin has plenty of utility, yet a joke of a market cap. Bitcoin picks up where Gold just couldn't serve up to its promise, and here we are. People talk down on Bitcoin for being a horrible store of value because of this year's correction, but in the same way that applies to Gold. Gold in 2011 peaked at $1900 and is currently hovering around $1220 which means that it's not a good store of value at all by that logic, but yet people think it is. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) We'll know when governments start to stack up their coins once they stop auctioning off their seized Bitcoins. It didn't work out well with the SilkRoad coins looking back now, I'm sure they realize that.
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Anyway to me it's very clear. When BTC got popular people quickly saw that it could never work as a global payment system since it didn't scale. People sometimes say "yeah but LN is going to solve that", well LN is a joke like I've pointed out several times and will never work.
You didn't point out anything other than your own flawed narrative that's heavily centered against Bitcoin and its second layer. Bitcoin payments keep going down, nobody pays with bitcoin anymore. In fact, sure, you can pay at some online stores like newegg.com with bitcoin but you should see the exchange rate, it's actually several percent more expensive to pay with BTC than with dollars so why the hell would that ever become popular?
How do you know Bitcoin payments are going down other than the obvious assumption that the bear market is heavily pressing down anything related to crypto? Bitcoin's on-chain transactions are going up despite services heavily batching transactions, meaning, we're going through a healthy dose of growth. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Purse.IO offers people discounts up to 30% when they use Bitcoin. Not bad ha? Bitcoin is dead, smart people like me saw that and have been shorting btc the past year. And I'm still short, this thing will go below $1000 pretty soon. Big money is shorting/selling all upticks like we've seen, it keeps below $4400 and every hope will get sold again. The SEC will shoot down those crazy ETF plans soon, that will be the first big tank and then it will continue its slow death again.
You sure you aren't a sore altcoin loser? Bitcoin down means altcoins down as well, must be hard for you. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif)
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A great example is Japan's Nikkei. It still is unable to break its ath made on 1990. That's like almost 30 years ago and backed by one of the best economies in the world. It could happen to BTC too. IMHO. Maybe not that long... But long. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) It could. It could not. This market is just one spark away from bubbling up again. The sentiment is what people pay attention to. Last year people were convinced of $50,000-$100,000 and now we're going down people expect $1500 to be the next bottom, and have the bear market last years and years. Everything should be taken with a truckload of salt. In the end, we don't need the price to keep breaking one insane level after the other. The hypes we're going through never last long and the correction that follows makes people's stomach turn badly. The best thing is that markets don't do what we think they will do, and if enough people are convinced that we'll keep falling, we might be up for what people refer to as a recovery. People were overly bullish above $6000 and seem to be overly bearish right now. It's going to be interesting to see what happens from here.
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