This concerns me about what will happen to bitcoin price after 2016 ? Will it crash after the block halving ? Is there any upcoming incident in 2017-18 that may push the price up again ?

may be easier to read web version: http://www.bitcoinfuturesguide.com/bitcoin-blog/reminder-chinese-bitcoin-spot-exchanges-okcoin-and-huobi-are-faking-a-majority-of-their-trading-volume



To most traders it is common knowledge that Chinese exchanges fake their volume, whether it's OkCoin and Huobi's spot or futures exchanges. Here's an example from Huobi to demonstate the absurdity of the fraud they are committing:



On the 1-day candles you see the volume at over 2.2 Million BTC being traded on Huobi.

And here's the same chart for OKCoin:



Oh no! Only 2 million BTC daily volume on OKCoin. They lose the fake volume competition with Huobi Shame to their family.

Raise your hand if you think OKcoin and Huobi are really trading 4.5 Million bitcoin per day, almost 1/3 of the current supply:



So we don't even need any more information than this to know that they are committing fraud in their trading volume. Taking 1,000 BTC and trading it between two exchange accounts at 0% fees and reporting it like it's a normal transaction would be a criminal offence in any regulated environment.

If that wasn't enough though, we have its own competitors blowing the whistle on them, in an ignored interview the CEO Bobby Lee did, he clearly calls them out for this practice:


The two largest exchanges in bitcoin, OKcoin and Huobi, are lying about how much trading volume they really do. This should be a scandal, but it's par for the course in bitcoinland. Pressure should always be put on exchanges to be honest and transprent, but people should focus on what the real problems are when our "market leaders" are up to no good like this.

OKCoin's ex CTO "CZ" also blew the whistle on their fraudulent trading volume data:


Take this as a public service announcement: do not trust OKCoin or Huobi Chinese bitcoin exchange volume, it's mostly fake and is not an indication of anything but how desperate they are to create an appearance of dominance in the market. This is beyond mere speculation, as it has been confirmed by C level executives and top players in the business.

wot do we do now?

with all this bickering like 1st graders how will anything get done?? i propose bigger blocks becoz u can add things like video, music, gifs etc to the blockchain and it makes it more fun...

the segwitted will not accomodate 7 billion people stop mucking around and fix this before i lose my investment

Yep I expect next month many new newbies will join us, bitcoin will grow pretty fast with this pace.

And newbies need good starting lessons before they start.

How to Disclose bank's private blockchain technology hoax ?

Dear banks, it's not about blockchain technology, it's about we don't want you controlling our money any more. ----- from reddit

 

I see that everyone sees Bitcoin as this magical money making thing so here is a great way to make some money:

1. Learn a skill that is in demand.

2. Use that skill to make money in your worthless inflationary local currency.

3. Convert that worthless currency into bitcoins.

Boom. Now you have real money!

Spend as desired.

Bonus points if you can use your skill that is in demand to directly make bitcoins.

In some countries you can direct deposit your paycheck into bitcoins.
In the US you can use http://www.bitwage.co or PEY in Germany.

I already have a lot of satoshis lost around several bitcoin exchanges. I can't withdraw those satoshis because they don't even worth the fees.
Like me there's thousands of others in the same situation which would make a lot of BTC. So I take it that exchanges keep these satoshis for them.

What do you think? Should exchanges be responsible for the fees and return every satoshi to their owners?

As the title say, what is the proper way to teach someone about what is Bitcoin?

Hello,

It is probably my first post here, but I've been lurking at several places and learning bitcoin for almost a year now.

I noticed that something is never mentionned in discussions, and it is the question of debt. In the real world, when a debt is created, the equivalent amount of money is created. Actually, there is even more debt than there is money supply at a given time.

However it is clear that this is not possible with bitcoin, since coins creation obey very specific rules, and the number of coins will never exceed 21 millions.

It is in my opinion the greatest entry barrier for a large adoption of bitcoin in any country. I am a Software Engineer too, and you know that when we design new products, it's rarely a good idea to say "anyway, this very used feature of the old system was rubbish". And I think it's especially the case here, because modern societies are all based on debt. I'm not saying debt is good or bad. I'm just saying, it is a used feature that should be taken into account in bitcoin. Because the objective of bitcoin wasn't to destroy debt, and trustless value transfer system is probably able to support debt too if we adapt its meaning.

Debt, is highly correlated with the ability to create money. I have an idea where debt would be a specific transaction type in the bitcoin protocol.

Basically, every node (even user only nodes) would be able to issue any debt they want, but the value of what they issue would be the value that the receiver attributes to the node. It's not a technical matter, I'm talking about the value they attribute to that person in the real world.

For example, if a perfect stranger tells  you you are a good person, you thanks him but it has little value for you. On the other hand, if your mother tells you the same thing it has a great value for you.

Similarly, if a country, who has obliged all merchants on its territory to accept its "bitcoin debt currency" as a payment mean, issue you some debt, it will have a great value for you. However, if I issue you 1 million units of my "personal debt currency", it would have little value for you, but I still can do it.

In practice, countries might have to make larger political agreements, to accept each others debt currencies - that we might preferably call : allowancies - but the idea is here. And the concept of allowance will also be useful for example for merchant who would issue them instead of fidelity cards, etc.

People might also use them for professional references. For example, as a professional I mention a bitcoin  adress on my website, and then when people go and check for transactions of type : "Allowance", they would see the one I've issued and the one I've received to and from people and companies along with a comment for example. And we can imagine that the higher the number is, the better they appreciated us.

It might sound odd because we  see the bitcoin currency as the only thing having value in the bitcoin network. But exchanging value doesn't mean that I want/need to exchange bitcoins, and as long as I do it in a decentralized way, with no indexation on fiat currencies etc... we're still along with Satoshi's vision.

But the point here is that by simply implementing this transaction type, countries will move from fearing bitcoin because it threatens their financial soveignty, to loving it because it would allow them to create money without cost, and without depending on any central bank, or foreign country.

Bitcoin would be as gold whose value is intrinsec and whose value is valued by everybody.

Finally, I think that is important that it  be supported by the official bitcoin network.

Before working our a proposal I'd like to know what are your views on that.

Thanks

I have never thought of platinum as an investment.
I have always invested in either bitcoin or share market or property or gold and sometimes in gold also.
But this platinum idea seems good to me. I will surely try.

Does someone has any suggestions how to make 17 BTC with 7 BTC starting capital in short period of time?

bitcoin does not ask you to believe it. but bitcoin has something that makes you always believe in the power of bitcoin.

If the Chinese currency devalue, it means the cost of manufacturing bitcoin will be lower there. So more mining will move to China.

Maybe they just want to buy some bitcoins then they want to dump the price somehow in order to buy at a cheaper rate

The answer is easy! Win the lottery! 

Whatever the price might be. Users should never get panic on buying bitcoin as it has gives you guaranteed return even if halving don't take place.

I think that bitcoin will be for many years the most widely used, I doubt that another currency could make him fall

You might want to edit your OP with more information because I think you will not be hired to write an article with such introduction. Have you ever write articles for someone before? If so, provide examples to your previous works. Good luck, though.

Thailand vs South Korea this match seems to be ended at victory of South Korea because it is much more better and can easily defeat it.I would be in supporting side of South Korea today in this match.

This is the reason why so many people have started reading this thread: