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2761  Economy / Trading Discussion / Re: Stock market vs cryptocurrencies. What are the main differences? on: September 06, 2017, 04:59:54 AM
There are several differences.

1. Crypto is much more volatile, the S&P annualized long term volatility is 15% whereas BTC is 100%+. A 20% to 30% move n crypto is nothing.

2. Crypto is more difficult to short, the shorting functionality is less mature than in teh stock market where you. Bitfinex is one o thefew  providers where you can do margin trading and shorting.

3. Crypto has less anchors for valuation unlike stocks which the valuation may be tethered on estimates of sales, earnings, EBITDA, book value, etc. Crypto has Metcalfe's law which says the network value is proportional to the square of the number of users.

4. Metrics are very different, crypto has development strength (e.g. # of github code commits), # of users, management/development team depth. Two factors they share in common are market cap and age of the business.

This.

Also, because cryptocurrency trading is unregulated you see practices that got outlawed in the stock market back in the 1930's - insider trading, pumper-dumper groups, fake news designed to panic people, even people DDOSing exchanges to take them off line at crucial moments and make investors panic.
2762  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: Cannot connect with Bittrex Support on: September 06, 2017, 04:56:05 AM
Try contacting Bittrex through their slack channel, and hopefully someone will talk through your difficulties:

http://slack.bittrex.com/
2763  Bitcoin / Bitcoin Discussion / Re: And We Are Back! on: September 06, 2017, 04:42:00 AM
i don't know why you are calling it a "bloodbath", it was less than a 20% drop and that because of a lot of FUD and a lot of corrections during multiple steps, not just at once. and we have had huge drops like 35% in the past that make this one look ridiculously small. Wink

in any case i agree that we are back. i was expecting a little more time before we get back so close to $4500 but the market has changed a lot. i think more people are starting to realize the FUD and buy as fast as possible. before it took a longer time before they realize and start buying, now they all know!

He's a noob  Grin

A bloodbath was what we experienced in 2014 when bitcoin went from $1000 to $200 and then traded in the $200 - $400 range for another two years.
2764  Economy / Service Discussion / Re: BTC-e's Big Claim: Bitcoin Withdrawals to Begin Tomorrow on: September 06, 2017, 04:23:18 AM
Looks like the refund site is up:

https://twitter.com/btcecom/status/904064838619373568

https://btc-e.nz/refund

You have to log in with your old password, they will make you reset it (and re-verify your email)
Yeah, the refund system is up, but if one request for refund now they would have to forget about the 45% of their money. better wait till september 15, then request for the refund/withdrawal. then you'd be getting 55% refund/withdrawal and 45% IOU tokens.

I guess it depends on whether you believe the IOU tokens will be worth anything.
2765  Economy / Speculation / Re: I always feel relieved when you have a good fall....how about you? on: September 06, 2017, 04:21:15 AM
It sort of gets rid of all the tension and makes it look more realistic, and wipes out a lot of the irrational actors...

I still don't know if the is a bump on the way to the ATH though.....

Well they do say that Markets "climb a wall of worry".

The bitcoin price rose too fast - from $300 to $4900 in just a month. So if it consolidates for a while at the current price, it will allow it to form a new base price on which to build further rises later in the year.
2766  Bitcoin / Bitcoin Discussion / Re: Suddenly, Bitcoin Breaks into UK Housing Market as Down Payment on: September 05, 2017, 04:22:31 PM
I'd be very worried that I would not get that deposit back after I'd finished the tenancy, especially if during that time Bitcoins' value has risen significantly.
Landlords always seem to find a few issues to prevent you from getting your deposit back, not evryone ofc, but it has happened to me before.

I'd only do it if escrow was available, afaik some landlords do work with escrow for deposits.

The thing is - if you can prove that the address you sent your coins to belongs to the landlord, then the blockchain is a rock solid evidence that you sent the coins.
2767  Bitcoin / Bitcoin Discussion / Suddenly, Bitcoin Breaks into UK Housing Market as Down Payment on: September 05, 2017, 02:51:53 PM
https://cointelegraph.com/news/suddenly-bitcoin-breaks-into-uk-housing-market-as-down-payment

Quote
It is a first for the UK that Bitcoin can now be used as a down payment in the property market. Co-living pioneer The Collective have announced that they will be accepting the digital currency as a deposit from prospective tenants.

They are also eyeing out rental payments in Bitcoin, but that will only be implemented later in the year.

It is the first time a UK property developer has opened its doors on the famous digital currency, stating that the demand actually came mostly from international customers.
The Old Oak

The Collective's online booking form for its Old Oak living scheme, an ambitious co-living development with 550 rooms, will be accepting Bitcoin as a deposit on the flats.

The standard deposit is £500, which equates to about 0.148 at time of publishing. Additionally, with the volatile nature of Bitcoin seemingly holding back its ability to be utilized as a currency, The Collective has pledged “spot conversion,” which means it will bear any financial risk while holding the deposit, returning it at the original value when the tenancy finishes.
2768  Economy / Speculation / Re: Big Governments Are Crushing Cryptocurrencies -- Bitcoin Down 10 Percent on: September 05, 2017, 02:33:10 PM
Hong Kong regulators have now issued a warning about ICO's:

http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=17PR117

Quote
As digital tokens involved in ICOs are transacted or held on an anonymous basis, by their nature they pose inherent and significant money laundering and terrorist financing risks. The SFC reminded licensed corporations and associated entities in its 16 Jan 2014 circular7 to take all reasonable measures to ensure that proper safeguards exist to mitigate these risks. Investors should also be mindful of the potential risks involved in ICOs and investment arrangements involving digital tokens. As these arrangements and the parties involved operate online and may not be regulated, investors may be exposed to heightened risks of fraud.

This feels co-ordinated. First China bans them. Then South Korea says it is thinking of banning them. Now Hong Kong issues a warning about them.

I wonder if Hong Kong is taking a pot shot at bitfinex?
2769  Alternate cryptocurrencies / Altcoin Discussion / Re: is it advisable to invest in cryptocurrencies under 1 $(dollar) on: September 05, 2017, 02:29:21 PM
If you've got money to spare, there is no harm doing an experiment and seeing what happens.

P.S. There is another experiment going on on reddit, where someone has bought the top 31 alts and is going to hold for a year and see where that gets him:

https://www.reddit.com/r/BitcoinMarkets/comments/6y0cnw/buy_and_hold_31_cryptocurrencies_for_365_days/
2770  Alternate cryptocurrencies / Speculation (Altcoins) / Re: To Buy BCH or not to Buy BCH? on: September 05, 2017, 02:08:23 PM
Has anyone else heard of this conspiracy regarding BCH?  It makes me wonder if I should have kept my BCH after all!

https://amp.reddit.com/r/conspiracy/comments/6ulaq8/bitcoin_bitcoin_cash_a_conspiracy_theory/

Ha-Ha, nice find!

Here's my twist: I think AXA and other finance and banking organisations want to operate lightning hubs on the lightning network. And that way, instead of bitcoin replacing them, they carry on as normal as middlemen taking fees.
2771  Alternate cryptocurrencies / Altcoin Discussion / Re: What coins can you claim for free as BTC owners? on: September 05, 2017, 01:57:50 PM
If you had bitcoin (and litecoin and doge) in your own wallet prior to May 2014, you can still dig up clams.

Here's the thread explaining how to do it:

https://bitcointalk.org/index.php?topic=623147.0
2772  Bitcoin / Bitcoin Discussion / Re: I am an Chinese, and I know what happened, and I will buy more crypto assets. on: September 05, 2017, 01:36:51 PM
I am one of Chinese.
I am not afraid of govment's order. And I am not afraid of market price down.
I will have more crypto coins later. I promise.

This time I have 40BTCs, 30BCHs, 50ETHs, 105ZECs, 55XMRs, and 36000XRPs,
What ever the gov said, I will going on my road,
I'm sure that The block chain will win at the end.
I will have 50-100BTCs, 100ETHs, 200ZECs, at 2018. if the market give me a chance.

In China, there are many many people knows the evolution of the block chain technology that brings to us,
They have the same choice just like me.
The world are huge, and we are not along.
I am being here just to say that.

A word of advice: don't go boasting about how many coins you have - it just invites thieves to try to dox you in order to steal them.
2773  Economy / Service Discussion / Re: Coinbase sees complaints grow on: September 05, 2017, 01:34:19 PM


Are you sure about that they block the accounts without passing any reasons to us! I have 2 accounts with my two email address registered with them. Two days I noticed their site was under maintenance and unable to access my wallet at that time. Should I need to change the wallet if I am security concerned.

They block accounts that send coins to addresses they associate with gambling (they're pretty puritan when it comes to that). Have you sent coins to any gambling sites?
2774  Alternate cryptocurrencies / Altcoin Discussion / Re: First China, what are your thoughts on Korea and Japan? on: September 05, 2017, 11:37:36 AM
Korea is definitely tightening their rules:

https://www.cryptocoinsnews.com/south-korea-tightens-bitcoin-regulations-will-punish-icos-report/

Quote
Notably, the report also suggests that authorities will “punish” initial coin offering (ICO) fundraising platforms for violating the capital market act by raising funds through stock issuance using digital currencies.

An FSC official added:

    We will clearly state the foundations of the Act on the Regulation of Conducting Fund-Raising Business Without Permission for illegal fund-raising impersonating digital currency investment and strengthen levels of punishment.

So anyone relying on Korean money to pump their ICO should think again.
2775  Alternate cryptocurrencies / Speculation (Altcoins) / Re: CHINA CAN'T STOP US on: September 05, 2017, 11:12:25 AM
I think China is just a top of iceberg.
There is very strong lobby of bankers and brokers. In most countries below articles about bitcoin you can read super long list of comments that bitcoin is not real, it is bubble, it is worthless. If you will ask your advisor - he will tell you not to invest in cryptocurriences, banks are forcing banning of cryptocurriencies. They will loose huge amounts of money.
Simple example: what would you choose: 2 days upto 2 weeks expensive unconfirmed (you dont know if someone didnt sent or bank is playing with your money) international money transfer, or super fast, cheap and confirmed crypto transfer?

So last week we have seen:
1. Putin forced by lobby trying to ban people from crypto trading, only professional brokers will be able to do that.
2. China in panic bans ICO's, now they are realising this decision was too fast and too stupid
3. Many articles, written even by noble prize winners, that it is huge bubble and worthless
4. A lot of articles about huge dumps of BTC, generating panic

We are at the edge of economic war.

Countries like China and Russia fear capital flight, that's why they're cracking down.

Regarding the articles about bitcoin falling - a week ago they were writing excitedly about bitcoin rising - it's just journalists doing what journalists do. Nothing to worry about.
2776  Economy / Speculation / Re: How far is this drop going? Sort of regretting buying. on: September 05, 2017, 10:34:27 AM
Don't watch the daily price movements, it will drive you nuts.

In the meanwhile, you can lend out your bitcoin on places like Poloniex, and earn a bit of interest. It won't be much, but at least you'll be increasing your stash of bitcoins in the process.
2777  Economy / Speculation / Re: So where exactly are we in the bubble? on: September 05, 2017, 10:22:49 AM
Regarding Bubbles, here is an interesting article:

https://qz.com/1067557/robert-shiller-wrote-the-book-on-bubbles-he-says-the-best-example-right-now-is-bitcoin/

Quote
Yale economics professor Robert Shiller won the Nobel prize for his work on bubbles. He wrote a seminal book on speculative manias, Irrational Exuberance, a deep analysis of the dramas over the centuries when otherwise sane people drove prices for tulips, stocks, and houses to inexplicable heights.

Shiller developed some of the tools that are considered vital for taking a sober look at markets. He helped create indexes for measuring real estate prices and his stock market valuation indicator, the cyclically adjusted price-earnings ratio, or CAPE ratio, is seen as one of the best forecasting models for stock returns.

As Shiller sees it, “big things happen if someone invents the right story and promulgates it.” Quartz spoke with him about some of the frothiest assets today, from bitcoin to tech stocks.

Quartz: What are the best examples now of irrational exuberance or speculative bubbles?

Shiller: The best example right now is bitcoin. And I think that has to do with the motivating quality of the bitcoin story. And I’ve seen it in my students at Yale. You start talking about bitcoin and they’re excited! And I think, what’s so exciting? You have to think like humanities people. What is this bitcoin story?

It starts with Satoshi Nakamoto—remember him? The mysterious figure who may or may not be real. He’s never been found. That has a nice mystery quality to it. And then he has this clever idea about encryption and blockchain and public ledgers, and somehow the idea is so powerful that governments can’t even stop it. You can’t regulate this. It kind of fits in with the angst of this time in history.

If you look at the third edition of Irrational Exuberance, I’m arguing that there’s a fundamental deep angst of our digitization and computers, that people wonder what their place is in this new world. What’s it going to be like in 10, 20, or 30 years, and will I have a job? Will I have anything?

Somehow bitcoin fits into that and it gives a sense of empowerment: I understand what’s happening! I can speculate and I can be rich from understanding this! That kind of is a solution to the fundamental angst.

So I’m trying to deconstruct the bitcoin story. Big things happen if someone invents the right story and promulgates it.
2778  Economy / Service Discussion / Re: BTC-e's Big Claim: Bitcoin Withdrawals to Begin Tomorrow on: September 05, 2017, 09:59:15 AM
Looks like the refund site is up:

https://twitter.com/btcecom/status/904064838619373568

https://btc-e.nz/refund

You have to log in with your old password, they will make you reset it (and re-verify your email)
2779  Economy / Speculation / Re: Is BTC 2014-2017 price trend a replay of November 2013? on: September 05, 2017, 09:54:07 AM
It appears to be closer to $1000 that $1500, but it is very possible. There are several parameters in this trend, it can be simply stretched out and onionskinned, but I could also distinguish bigger waves that would morph the totality of the shape (As Above, So Below), and there is also pretty big contrast change in waves' heights, the ups and downs match in their chronology, but not necessarily their heights.

If you are right, I wonder what that will do to bitcoin's mining - it surely won't be profitable, so will they start switching to other blockchains (like bitcoincash?)
2780  Bitcoin / Bitcoin Discussion / Re: Usability of Bitcoin and other cryptocurrencies. on: September 05, 2017, 09:01:59 AM
But what about traditional banking services for cryptocurrencies? Let's say you will have opportunity to get loans in BTC or ETH, or you will be able to deposit them earning an interest? Or, for example, if you have an application where you have access to both your wallets in BTC and ETH and additionally you have an access to your bank account and you can translate funds back and forth without any problems?

You can do that with Coinbase - your coinbase wallet is linked to your bank account, so you can move money back and forth quite easily. I believe they've enabled ethereum as well as bitcoin. Whether they add other cryptocurrencies depends very much on the demand for them.
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