Almost everything was down double digits today but climbing back up.
I picked up some more Waves, DGB, XEM, SIA
What you all grabbing?
I picked up some doge and steem. I'm staying clear on all ICO coins till it's clear what their status is. |
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The period at the start of this year when the Chinese exchanges put an end to zero fee trading and closed withdrawals, should have put paid to the idea that China controls bitcoin. All their volume was fake - and what is more, during the period when their "volume" collapsed is when bitcoin went from $1000 to over $4000.
The bitcoin price is driven by western investors and people should stop panicking about what is happening in China, they are very small players in this.
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Where does the SEC confirm this?
They're not going to confirm anything. The SEC is American. They have nothing whatsoever to do with China. What is more the Americans have taken several steps to legalise bitcoin. |
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It isn't really pegged to the dollar. It's a token that's issued by a company, to help Bitfinex get round it's dollar banking problems.
Because they can't bank in dollars and have no licence to do any trades involving dollars, they allow people to trade against USDT "as if it were dollars".
But they're not real dollars and if you tried to redeem them for dollars you'd struggle (in fact teh conpany issuing them says explicitly on their website that they cannot be redeemed for dollars).
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Why don't we just ban China?
They're banning themselves. Apparently they are going to shut down all local exchanges "soon". Presumably that means the big ones like OKCoin etc. Once the exchanges are gone, there won't be any sharp falls on the Chinese exchanges to panic the investors on the western exchanges (who tend to sell immediately even though they don't know what it's about just in case something major is happening). |
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I am not sure why cryptocurrencies prices fall almost in the same time, mostly red in the market, but bitcoin price in my local exchange recover just in minutes, lol. Whales in act to dump (maybe) but people already prepared to buy whenever dips occurs  . Yes, it is discount time, I'm glad to buy more cheaper bitcoins. Just waiting until the time comes and I will sell it again, get extra profit. Friday discount What basically happened is that the Chinese markets fell sharply. The western markets didn't know what was going on, and fell in sympathy "just in case there was a real reason for the fall". Then the news reports came in about what it was about and the western markets recovered a little. If China is really serious about closing their local exchanges, then these shenannigans will end finally. |
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There will be a mining difficulty retarget around about Sept 11th/12th, and I'm pretty sure we'll see a pump to coincide with it. Target price $1000. Just my opinion of course.
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https://cointelegraph.com/news/japans-internet-giant-could-control-six-percent-of-bitcoin-mining-plans-next-generation-centerJapanese Internet giant GMO has announced it will launch a Bitcoin mining business to corner around six percent of the market by 2018.
A disclosure which surfaced Thursday revealed plans to mine with 50,000 seven nm chips generating around 500 petahashes per second.
The initial cost to set up the project is “will be more than 10 percent of the consolidated noncurrent assets as of Dec. 31, 2016” of ¥3.489 bln ($32 mln).
“We will operate a next-generation mining center utilizing renewable energy and cutting-edge semiconductor chips in Northern Europe,” a translated copy of the disclosure reads.
“We will use cutting-edge seven nm process technology for chips to be used in the mining process, and jointly work on its research and development and manufacturing with our alliance partner having semiconductor design technology.”
GMO has operated since 1995 but only this year became involved in cryptocurrency, opening an exchange under Japan’s new licensing scheme.
As part of the plans, GMO will use coins it mines to add liquidity to its exchange arm, as well as run a cloud mining business and sell “next-generation mining boards.”
According to data from Blockchain.info, GMO could control around five to six percent of Bitcoin mining when it launches in the first half of 2018. This is the first real big challenge to the Chinese miners.
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I have no idea about markets so I will answer as off-topic or whatever.
Ethereum has many practical uses while bitcoin cash is merely famous because of bitcoin. So I will go with eth.
Bitcoincash has one very big use - which is the big blocks allow them to absorb a lot of transactions. In May Ethereum got so congested that their wallets got suspended on all the exchanges, it can't scale. |
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I had maintained before that the earlier governments realise they cannot continue to ignore crypto currencies the better. Although, the bill might not eventually pass because of the perception and the argument against crypto currencies but it will set a path for other bills to follow and eventually it will come into fruition.
The Americans are quite positive towards bitcoin. The FBI testified to Congress that it makes it easier to track crime thanks to the blockchain (easier than cash). And Silicon Valley has piled into bitcoin in a big way. It's legal already, but they'll make it easier to use. It's only the authoritarian states (Russia, China) who fear bitcoin. |
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Hi guys! if you trade, how long do you hold your coins?. How would you know if you have to let go or sell you coins or still have to keep it?.
I set percentage targets, and start selling in stages once there is a 10% rise. So I'll sell a portion at a 10% rise, I'll sell another portion at a 15% rise and so on. Alts are very volatile and it's hard to know when a pump will end, so if you have profits, take some of them. |
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This news will make me hold my bitcoin core as I see that it keeps on increasing in value. If people are moving there wealth and mining tools from bitcoin core to bitcoin Cash and the core keep growing the way we are seeing it today it then mean bitcoin core in the long run will represent the idea of satoshi as something that will be valuable. Bitcoin Cash on the other hand has been trap between $500 and $600 and the only time will see serious changes is when is been pumped.
This idiot believes that people would transfer to a buggy and manipulated altcoin and he don't realize that when miners transfers to BCC its difficulty will rise. I think the difficulty is due to retarget on 11th September or thereabouts, and it will drop. Bitcoincash is a nice coin, it can eat up mempool backlogs very quickly. There is no evidence that many people are using segwit and it will likely not improve bitcoin's fee problems. |
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Whooa! That's a good news. If this becomes a law, it would provide a good boost to the crypto currency market overall as many people would be interested in transacting through crypto currency and they will start buying it for the sake of avoiding high taxes. So this method will give a boost to the crypto currency market worldwide.
However, I doubt that bill will be passed, because IRS would not want to loose their hand on the potential taxes. They are likely to strongly oppose this bill. But if it happens, that will be a good news to all crypto currency users worldwide, because this move, may hike the price further.
The Americans have decided they LIKE bitcoin, not least because they can track everything through the blockchain, and collect those pesky taxes. And the IRS doesn't get to decide law, Congress decides it and the IRS just obeys the law and collects what is due. I love how they have a "Congressional Blockchain Causus" to debate and push bitcoin-related things forward. |
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https://www.coindesk.com/us-lawmakers-seek-tax-exemption-bitcoin-transactions-600/Two members of the US House of Representatives have filed a bill seeking to create a tax exemption for purchases made with cryptocurrencies.
Back in 2014, the Internal Revenue Service declared that it would consider bitcoin (and other cryptocurrencies) as a kind of property for tax purposes. Any profits made when selling or exchanging a cryptocurrency triggers a capital gains requirement. Yet due to the wording of the IRS decision, that covers any transaction involving bitcoin, including an oft-mentioned purchase of a cup of coffee – essentially meaning that if you bought some bitcoin at $1, and spent it on a $2 cup of coffee, you would owe tax on the difference.
Reps. Jared Polis and David Schweikert, who co-lead the Congressional Blockchain Caucus, are hoping to alleviate some of the issues resulting from that ruling with the Cryptocurrency Tax Fairness Act.
Unveiled today, the measure, if passed, would create a de minimis exemption for cryptocurrency payments below $600 after December 31 of this year. Put more simply, transactions involving a cryptocurrency below that threshold wouldn't trigger a capital gains liability.
As the text of the bill states:
"Gross income shall not include gain from the sale or exchange of virtual currency for 5 other than cash or cash equivalents….[if the amount of gain excluded from gross income under subsection (a) with respect to a sale or exchange shall not exceed $600."
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Dear xxxxx,
Fiat deposits and withdrawals will not be processed until we change our bank requisites.
Please note that all services such as cryptocurrency deposits/withdrawals and trading are fully available.
Thank you,
HitBTC Support Team
So they're having problems with their bank. My advice - buy bitcoin (or bitcoin cash or litecoin or ether or whatever) and withdraw. |
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Holding alts is a very very risky business. I've seen loads pump up and then dump and die.
By all means buy alts for short term profit, but make sure you take those profits, don't be too greedy thinking the price will continue to go up, chances are it will fall back and never recover.
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price of BTC Core?
what the hell is BTC core?!! are you coming up with weird names yourself or is there some propaganda somewhere that you either fell for it or are a part of it? which one is it? it is called bitcoin and it has always been bitcoin and it will always be bitcoin. anything else other than bitcoin is an altcoin. Umm.. Have you seen the latest bitcoin qt wallet? When it loads up it says "Bitcoin Core" proudly before it opens. |
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What you write makes a lots of sense and sounds very reasonable. But markets tend to move more by emotions than by reason. I would not be surprised if it went down a lot, but neither if it raised much too.
There are lots of noobs coming in, convinced that bitcoin will make them millionaires. And towards the top of a bubble, you often get this emotional uninformed money pushing it up the final leg. |
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https://www.cnbc.com/2017/08/02/cboe-bitcoin-futures-winklevoss-brothers-digital-currency-exchange.htmlThe Chicago Board Options Exchange, the largest U.S. options exchange, is planning to launch its own bitcoin derivatives trading products by early next year.
Pending review from the U.S. Commodity Futures Trading Commission, the CBOE Futures Exchange (CFE) plans to offer cash-settled bitcoin futures in the fourth quarter of this year or sometime in early 2018, according to a Tuesday announcement.
The CFTC told CNBC in a statement that, "to date, the Commission has not received a filing for a bitcoin futures contract from the CFE."
Designated contract markets like CFE do not necessarily need prior approval from the CFTC in order to list a product for trading, according to the commission's website. Rather, those designated markets can list trading products by filing a self-certification with the commission one business day before the initial listing.
"We've really come to the conclusion recently that cryptocurrencies are here to stay," John Deters, chief strategy officer of CBOE parent CBOE Holdings, told CNBC in a phone interview.
Deters said the bitcoin futures, once reviewed, will be available to both institutional and retail investors. The Chicago Board Options Exchange does eye-watering amounts of business every day - so bitcoin futures on their exchange is a big deal. The more future options we have the better for sure. Only Barry Silbert has set up a bitcoin futures as far as I know. There's a prediction that says during 2017 we are going to see the first ETF. There's still some time for it to happen, but I think if it's not 2017, it will be next year. This will be a propulsion to $10,000++ easily, even if we are going to get there without an ETF, an ETF would cause an instamoon to $10,000+. But that's a double edged sword since it would mean a big correction would follow. In any case, these things are good if they happen. The more wall street money gets involved the better. The bitcoin protocol will remain the same, so let all that money in. I don't think we're going to get an ETF. The SEC declined it earlier in the year because most of the prices are set on shady unregulated exchanges. As long as Bitfinex and their Tether situation continue, and they continue to have a good chunk of bitcoin trading, the SEC will continue to say NO. IMO, only when the bulk of bitcoin trading is done on regulated exchanges like Gemini and GDAX will an ETF be allowed. |
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