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2681  Alternate cryptocurrencies / Altcoin Discussion / Re: For people who are concerned with ICO (investors, and ICO developers) on: September 12, 2017, 10:17:03 AM
The only ICO that has really really paid of for investors is the ICO to start Ethereum itself. The others are nothing more than rehashed whitepapers seeking to get money and squander it.
2682  Economy / Speculation / Re: Bitcoin will be worth $20,000-55,000 by the year of 2022 on: September 12, 2017, 10:13:43 AM
In order for it to go that high, we need institutional money to come in (pension funds and the like). And they won't as long as we have shenannigans with shady exchanges and FUD from China.

When the SEC refused permission for the ETF, they cited the difficulty of fairly valuing bitcoin (the ETF price would be based on the BTC price) because of unregulated exchanges, pumps and dumps, insider trading, and generally shady stuff going on.

Untill the bulk of the trading happens on regulated exchanges like GDAX, Gemini and Bitstamp, institutional money won't come in, and the price will stay relatively modest.
2683  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: List of legit Crypto Airdrops on: September 11, 2017, 05:15:56 PM
Regarding all these wallets people are supposed to download to receive their airdrop - has any check been done to ensure there is no malware that will then proceed to steal coins from other wallets?
2684  Economy / Speculation / Re: malevolent whales intention to destroy bitcoin as store of value on: September 11, 2017, 05:08:01 PM
Central bankers in the western world have to publish their accounts, so we can see exactly what they are buying. And they haven't been buying bitcoin, they've been buying bonds (ECB and BoE), while the Fed hasn't been buying anything at all - they stopped QE in 2014.

The rise in bitcoin since August is more down to hedge funds moving into the space.
2685  Bitcoin / Bitcoin Discussion / Re: Largest ever in BTC history. 1.314MB block mined. Segwit is expanding. on: September 11, 2017, 04:28:36 PM
Can the segwit blocks get to over 2mg before november? If they can then segwit2x is unnecessary, isn't it?
2686  Economy / Trading Discussion / Re: Trading and security on: September 11, 2017, 04:16:15 PM
I have read dozens of threads saying you need to keep your BTC on a hardware wallet or paper. Anything online isn't safe they say. When trading that is not really feasible is it? I like to move in and out of positions several times a day and often at a moments notice. My trading account has a sizable balance (to me - 5 figures)  in it.

How risky is this and any additional things I could do?

You need to decide how much of your total bitcoin stash you are comfortable losing, and only send that amount to the exchanges, and keep the rest in your own hardwallet.

Also take profits regularly and withdraw profits. That way, the % at risk is lower.

Sadly exchange risk is real - as those who had money in MtGox, Mintpal, Cryptsy, Bitfinex and BTC-E can attest.

The only group that is insured against hacking is Coinbase/GDAX. (Though Gemini might also be insured, I know they are fully licenced by New York State and I think the licence requires reserves to be held).
2687  Bitcoin / Bitcoin Discussion / Re: btc-e email addresses just received a burst of spam on: September 11, 2017, 04:01:07 PM
Join ICO and buy tokens today!
Re:
ICO is Live Now! Token Sale in Progress. Join Today!

So the email address list has now be sold to spammers?

Or maybe they got hacked?

(P.S. Bitcointalk got hacked a while back too, so if you are using the same email address here, it might be spam due to that).
2688  Alternate cryptocurrencies / Altcoin Discussion / Re: XRP - Ripple Currently being sued for 1 BILLION? on: September 11, 2017, 03:33:25 PM

Ripple is currently being sued by R3, which is the creator of "Corda", because their contract has been wrongfully terminated.

"In September 2016, the two companies entered an agreement giving R3 the right to purchase up to 5 billion XRPs for $0.0085 per unit until September 2019, according to a lawsuit filed by R3 in the Delaware Chancery Court on Friday. "

Which is calculated,



0.20$ a share x 5 billion = 1Billion$, with a profit of 1B$ - 42.5Million$ (0.0085$ a share x 5 billion) = 957.5 million dollars pure profit.


How is this going to affect XRP?


https://www.reuters.com/article/us-r3-ripple-lawsuit/u-s-blockchain-startups-r3-and-ripple-in-legal-battle-idUSKCN1BJ27I?il=0


It's really simple:
5bil (owned to R3) / 38.34bil (total supply) = 13%
So in worst case, we can expect 13% price fall, or 0% if lawsuit fails.
If we assume chance of lawsuit succeeding is 75%, then we can expected (13% * 0.75 + 0% * 0.25) = 9.75% price fall.


Woah - R3 were entitled to 13% of the whole supply?!

I really really don't understand why anyone invests in Ripple - it's all concentrated, they keep promising real life uses but nobody ever uses Ripple. What is the point?
2689  Economy / Speculation / Re: China and bitcoin price ! on: September 11, 2017, 02:58:16 PM
Don't know. WSJ is reporting on it today, and they usually try to double check with their own independent sources. Here is the article:

https://www.wsj.com/articles/china-to-shut-bitcoin-exchanges-sources-1505100862

2690  Alternate cryptocurrencies / Altcoin Discussion / Re: Do you think DOGECOIN is the future of Altcoins ? on: September 11, 2017, 12:31:56 PM
As Dogecoin is a joke coin I hope you are joking as well. No future here.

For a joke coin, it has amazing longevity. In January it will be 5 years old...
2691  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: What is your favorite #AltcoinExchange? Looking for 4 nominations on: September 11, 2017, 12:00:14 PM
HitBTC is gaining ground (it's the most liquid platform for BCH trading), plus it features some interesting alts that you can't trade elsewhere.
2692  Alternate cryptocurrencies / Altcoin Discussion / Re: Do you think the IRMA Hurricane in US is affecting Trading Volumes in Altcoins?? on: September 11, 2017, 11:30:58 AM
Well Floridans won't be doing any trading, the ones who have evacuated will be glued to the weather channel, watching to see if their homes have survived. The ones who stayed put will be conserving their batteries, even if they have generators. 6 million have lost power.
2693  Economy / Service Discussion / Re: Thoughts on YoBit? on: September 11, 2017, 10:52:28 AM


I'm surprised more exchanges don't pay interest for our risk. It's because we haven't demanded that they do. If we all took our bitcoin off exchanges the exchanges would start paying interest.



The only exchanges that provide interest are the ones that have margin trading - where you are essentially lending coins to a margin trader who is borrowing them to trade.

I think you need a licence and a certain amount of reserves for margin trading as it is super risky to enable (because your trader can abscond without paying).
2694  Alternate cryptocurrencies / Altcoin Discussion / Altcoins Use Bitcoin Ecosystem to Leapfrog Forward, Grow Faster on: September 11, 2017, 10:46:33 AM
https://cointelegraph.com/news/altcoins-use-bitcoin-ecosystem-to-leapfrog-forward-grow-faster

Quote
Bitcoin’s very success has paved the way for challenges from would-be contenders.

These so-called “altcoins” find that there is no need to reinvent the wheel. It took years for Bitcoin to gain the kind of traction needed for people to build Coinbase, Bitpay, Blockcypher and others. Yet a promising altcoin can usually be integrated into any of these services within weeks or months.

There is no need for altcoin investors to wait years and hope that savvy businesspeople will come along and build a quality exchange, or payment processor, or API service. Altcoins are able to very quickly capitalize on the work Bitcoin has done.

Bitcoin businesses, for their part, would be foolish to ignore the money that holders of the top altcoins can bring to their platform. Since these digital currencies don’t have to wait years for new companies to be built to service them, they are able to grow and mature much more quickly than Bitcoin did.

Lawyers and accountants who specialize in Bitcoin don’t have to relearn everything in order to assist customers with other forms of digital currency. Their expertise applies to altcoins just as well as it applies to Bitcoin.

Dash doesn’t have to lobby Congress for friendlier regulation. Neither does Ethereum, or Litecoin, or Zcash, or any of the other hundreds of coins in existence. Bitcoin has already cleared the way, and continues to do so.

Many developing countries never bothered to build a wireline telephone network. There was no need. By the time they were able to fund such a project, mobile phone technology had already been invented. In this way, the developing world skipped decades of waiting for technological progress, instead advancing quickly to the present state-of-the-art.

The cryptocurrency world is advancing in much the same way. When Bitcoin developers create promising new code, it is quickly copied by eager altcoin developers.In the meantime, innovative altcoins continue to develop new features that Bitcoin can’t - or won’t - adopt for its own. Bitcoin is too big to take the risks that many altcoins can take. After all, it’s much easier to risk breaking a $100 million network than a $70 billion one.

Bitcoin’s biggest advantage is branding and network effects. There is no easy way to duplicate that. In every other way, expect altcoins to continue surging ahead as they take advantage of the smooth road Bitcoin has cleared.
2695  Alternate cryptocurrencies / Altcoin Discussion / Re: Buy alts now or wait for Bitcoin hard fork in November?! on: September 11, 2017, 05:47:10 AM
We don't know if the hard fork will go ahead. See this tweet for example:

https://twitter.com/slushcz/status/906887516892094467

It looks like Slush Pool is trying to back out of segwit2x. It really depends on whether the miners can find some consensus or not.
2696  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Should I convert my BCH to BTC? on: September 11, 2017, 05:35:35 AM
I've held both BTC and BCH because I'm not sure how this segwit2x thing will play out. If bitcoin forks again in November, it will become much weaker and we're back to the high fees/congestion problems.
2697  Economy / Speculation / Re: China banned bitcoin: 2013 VS 2017. market maturity? on: September 11, 2017, 05:32:05 AM
Volumes were much lower in 2013/14 so it was easier to move the market by just a few big sells.

Also, in early 2013, DDOSing exchanges was a thing to make the markets tank - lots of the bitcoiners at the time were nerds in their early 20's and had never traded anything and would sell in a panic.

Bitcoin still isn't mature enough - maturity is when rumours only make the price move by about 1%
2698  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Chart of the Day | Bears Taking on Litecoin? on: September 10, 2017, 04:48:31 PM
Bears are attacking all alts at the moment. Very few coins are green at the moment.

People got scared with the China FUD and are cashing out into bitcoin and then into fiat while the bitcoin price is over $4000.
2699  Economy / Speculation / Re: Russia’s Finance Ministry Drafts Law to Legalize Cryptocurrencies on: September 10, 2017, 04:42:17 PM
Russia has talked shit so many times that I don't think anyone involved in crypto will be inclined to believe anything they say any more. Let's see some actual legislation put in place and then judge. Russia has never had any Bitcoin significance anyway so this isn't the most staggering news imaginable.

Apart from hacking - Russians had a lot of effect hacking MtGox, and possily other hacking events. Russia's main contribution is crime.

2700  Economy / Speculation / Re: Russia’s Finance Ministry Drafts Law to Legalize Cryptocurrencies on: September 10, 2017, 02:46:41 PM
At the same time, Russia is arresting people who trade cryptocurrencies:

https://www.cryptocoinsnews.com/russia-makes-its-first-arrests-for-illegal-bitcoin-trading/

Quote
Police in Russia arrested three men last week, charging them with illegally trading 500 million rubles (around $9 million) worth of bitcoin, the first criminal case against bitcoin sales in the country, Vedomosti reported.

Nothing that happens in Russia makes any sense - they keep talking about legalising and then banning cryptocurrency over and over. And arresting people.
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